Financial Performance - The company's operating revenue for the first half of 2019 was approximately ¥14.71 billion, a decrease of 3.73% compared to ¥15.28 billion in the same period last year[20]. - Net profit attributable to shareholders of the listed company reached approximately ¥103.87 million, an increase of 27.11% from ¥81.72 million in the previous year[20]. - The net profit after deducting non-recurring gains and losses was approximately ¥95.26 million, reflecting a growth of 20.79% compared to ¥78.86 million in the same period last year[20]. - Basic and diluted earnings per share for the first half of 2019 were both ¥0.085, representing a 26.87% increase from ¥0.067 in the same period last year[20]. - The company reported a net profit margin of approximately 1.1% for the first half of 2019, compared to 1.09% in the same period of 2018[120]. - The company's net profit for the current period is 119,193,202.42, an increase of 48.5% compared to 80,231,034.59 in the previous period[124]. - The total profit for the current period is 155,604,541.74, which is a 46.0% increase from 106,689,007.59 in the previous period[124]. - Total comprehensive income reached ¥61,305,288.98, a significant increase from ¥8,093,751.72 in the previous period[133]. Cash Flow and Liquidity - The net cash flow from operating activities was approximately ¥536.69 million, a significant improvement from a negative cash flow of ¥155.92 million in the previous year[20]. - The company’s cash and cash equivalents increased by 34.06% to approximately 4.27 billion yuan, attributed to an increase in guarantees for bills and letters of credit[50]. - Cash inflow from operating activities totaled ¥20,574,363,048.96, slightly up from ¥20,073,314,329.83 year-over-year[136]. - Cash outflow for purchasing goods and services decreased to ¥18,358,913,028.64 from ¥19,492,008,940.08, indicating a reduction of approximately 5.8%[136]. - The cash and cash equivalents at the end of the period increased to ¥2,666,015,915.64, compared to ¥2,175,283,501.76 at the end of the previous period, marking a growth of 22.5%[138]. Assets and Liabilities - Total assets increased by 14.75% to approximately ¥19.12 billion, compared to ¥16.66 billion at the end of the previous year[20]. - The company's total current assets reached CNY 13.66 billion, an increase of 18.63% compared to CNY 11.52 billion at the end of 2018[108]. - Total liabilities rose to CNY 11,513,860,275.50, an increase of 19.3% from CNY 9,646,881,973.82 in 2018[118]. - Short-term borrowings increased significantly to CNY 10.58 billion, up 22.73% from CNY 8.62 billion[111]. - Total current liabilities amounted to CNY 12.81 billion, an increase of 20.51% compared to CNY 10.63 billion at the end of 2018[111]. Research and Development - The company has increased investment in R&D for new products and technologies, enhancing its R&D capabilities[28]. - The company received 265 technology project applications in the first half of the year, with 235 projects approved, including 152 new product R&D projects, 70 process improvement projects, and 13 equipment R&D projects, generating sales of 375 million yuan[40]. - Research and development expenses increased to 197,615,970.46, up from 194,736,541.65, indicating a growth of 1.5%[124]. Market and Competition - The company is implementing a "2236" marketing transformation strategy, shifting towards a dual-driven marketing model combining self-marketing and personnel marketing[28]. - Increased competition in the wire and cable market poses a risk, necessitating continuous R&D investment and product innovation[59]. - The company is focused on controlling copper price volatility risks through production strategies and hedging methods[28]. Corporate Governance and Compliance - The company has committed to avoiding competition with its listed subsidiary and will take necessary measures to prevent conflicts of interest, effective since January 13, 2014[69]. - The company will manage related party transactions in accordance with market principles and at fair market prices, ensuring compliance with legal and regulatory requirements since January 13, 2014[69]. - The company has retained Zhongshang Zhonghuan as its financial and internal control auditing firm for the 2019 fiscal year, ensuring continuity and stability in its audit processes[74]. - There are no significant litigation or arbitration matters reported during the reporting period, indicating a stable legal environment for the company[74]. Environmental and Social Responsibility - The company strictly adhered to environmental protection laws and regulations, ensuring no environmental pollution incidents occurred during the reporting period[88]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period was 35,787[94]. - The top ten shareholders held a total of 26.02% of the company's shares, with Baosheng Group Co., Ltd. being the largest shareholder at 318,003,448 shares[96]. - The company did not propose any profit distribution or capital reserve transfer for the half-year period[65].

2019 年第一季度报告 公司代码：600973 公司简称：宝胜股份 宝胜科技创新股份有限公司 2019 年第一季度报告 1 / 19 2019 年第一季度报告 í 二、 11Í 四、 目录 | --- | |----------------| | | | 重要提示 . | | 公司基本情况 . | | 重要事项 . | | 附录 . | 2 / 19 2019 年第一季度报告 单位：元币种：人民币 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人杨泽元、主管会计工作负责人夏成军及会计机构负责人（会计主管人员）夏成军 保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | --- | |-------------------------------------------------|--------- ...

Financial Performance - The company's operating revenue for 2018 was ¥32,184,404,083.45, representing a 55.55% increase compared to ¥20,691,164,048.09 in 2017[20]. - The net profit attributable to shareholders of the listed company was ¥117,694,027.30, a 36.48% increase from ¥86,237,388.92 in the previous year[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥95,324,533.17, showing a significant increase of 146.79% compared to ¥38,626,462.92 in 2017[20]. - The company's total assets at the end of 2018 were ¥16,660,110,325.42, which is a 13.21% increase from ¥14,715,780,956.86 at the end of 2017[20]. - Basic earnings per share increased by 35.21% to CNY 0.096 in 2018 compared to CNY 0.071 in 2017[23]. - The net profit attributable to shareholders for Q1 2018 was CNY 32,893,366.30, while Q2 and Q3 were CNY 48,823,385.04 and CNY 33,034,167.35 respectively[24]. - The weighted average return on equity rose to 3.24% in 2018, an increase of 0.84 percentage points from 2.40% in 2017[23]. - The company reported a total of CNY 22,369,494.13 in non-recurring gains and losses for 2018, compared to CNY 47,610,926.00 in 2017[28]. - The net cash flow from operating activities was negative at -¥831,229,312.99, an improvement from -¥1,571,162,967.43 in 2017[20]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of ¥0.29 per 10 shares, totaling ¥35,441,262.99, which accounts for 30.11% of the net profit attributable to shareholders for 2018[6]. - The cash dividend per 10 shares was CNY 0.29 (including tax) for the year 2018[98]. - The company distributed a total cash dividend of CNY 35,441,262.99, which accounts for 30.11% of the net profit attributable to shareholders for 2018[98]. Research and Development - The company achieved a significant increase in R&D investment for new products and technologies, enhancing its product development capabilities[30]. - Research and development expenses increased by 30.14% to 452.44 million RMB, reflecting the company's commitment to innovation[43]. - The company reported a total of 817 R&D personnel, which constitutes 13.47% of the total workforce[7]. - The company developed 25 new products, with 9 recognized as domestically advanced and 2 as internationally leading[39]. - The company is increasing R&D investment to improve its technological capabilities and meet the evolving demands of downstream industries[81]. Market Position and Strategy - The company maintained its leading position in the cable industry, with several products recognized as industry champions, particularly in fire-resistant cables and railway urban rail cables[34]. - The company implemented a "2236" marketing transformation strategy, shifting from a single marketing personnel model to a dual-driven model[30]. - The company adopted a production strategy based on sales demand and utilized hedging methods to manage copper price volatility risks[30]. - New contracts in the power energy and rail transit markets increased by 23.1% and 27.4% respectively, indicating strong market growth[39]. - The company successfully secured contracts for major projects, including the Qingdao SCO Summit and the Beijing New Airport, enhancing its market presence[40]. Risks and Challenges - The company has outlined potential industry and market risks in its report, emphasizing the importance of risk management strategies[7]. - The company faced challenges such as low industry concentration and increasing competition in mid-to-low-end products, indicating a need for transformation and innovation[32]. - The company recognizes the need for structural adjustment and industry consolidation to enhance competitiveness in a highly fragmented market[82]. - The company faces risks related to changes in electricity industry investment policies, which could impact market demand for its products[92]. - There is a risk of core technical personnel turnover or shortages, which could affect the company's competitive advantage and R&D capabilities[93]. Governance and Compliance - The company has received a standard unqualified audit report from Zhongshen Zhonghuan Accounting Firm[5]. - The company strictly adheres to information disclosure regulations, ensuring the accuracy and timeliness of its announcements[131]. - The company has implemented strict governance measures to prevent the controlling shareholder from exploiting its position for additional benefits[181]. - The board of directors consists of 8 members, including 3 independent directors, complying with legal requirements[182]. - The company actively engaged with investors through various channels, maintaining fairness and protecting investor rights[183]. Social Responsibility and Community Engagement - The company actively participated in social welfare initiatives, providing support to low-income families and engaging in community outreach[140]. - The company recognized the need for ongoing efforts in fulfilling social responsibilities, acknowledging gaps compared to stakeholder expectations[144]. - The company strictly complied with environmental regulations, ensuring no pollution incidents occurred during the reporting period[145]. Employee Management and Development - The company established a comprehensive employee management system, focusing on professional development and performance evaluation[137]. - The total number of employees in the parent company is 3,498, while the total number of employees in major subsidiaries is 2,569, resulting in a combined total of 6,067 employees[177]. - The company has 4,328 production personnel, 344 sales personnel, 503 technical personnel, 56 financial personnel, and 705 administrative personnel, totaling 5,936[177]. - The actual remuneration paid to directors, supervisors, and senior management during the reporting period amounted to 5.6866 million yuan[172]. Financial Management and Investments - The financing activities generated a net cash flow of ¥2,712,290,627.78, up from ¥1,837,636,127.70 in the previous year[5]. - The total investment during the reporting period was CNY 939,134,040.00, reflecting an increase of 11.46% compared to the previous year's investment of CNY 842,586,862.42[70]. - The company made significant equity investments, including CNY 470,000,000.00 in AVIC Baosheng Marine Engineering Cable Co., Ltd., acquiring a 70% stake[71]. - The total amount of guarantees provided by the company, including those to subsidiaries, is RMB 150.01 million, which accounts for 4.09% of the company's net assets[123]. - The company has not provided any guarantees to shareholders, actual controllers, or their related parties[123].

Financial Performance - Operating revenue for the first nine months reached CNY 24.06 billion, an increase of 86.56% year-on-year[6] - Net profit attributable to shareholders was CNY 114.75 million, up 14.26% from the same period last year[6] - The company reported a net profit excluding non-recurring gains and losses of CNY 109.51 million, representing a 21.00% increase year-on-year[6] - Total revenue for Q3 2018 reached ¥8,778,058,558.64, a significant increase from ¥4,992,415,723.61 in Q3 2017, representing a year-over-year growth of approximately 75.5%[24] - The net profit for the first nine months of 2018 was ¥8,733,684,603.16, compared to ¥4,955,634,101.16 for the same period in 2017, showing an increase of around 75.5%[24] - The total profit for the first nine months of 2018 was ¥154,885,336.23, compared to ¥132,061,277.39 in the same period last year, reflecting a growth of approximately 17.3%[26] - In Q3 2018, the company reported a net profit of CNY 52,332,548.79, an increase from CNY 24,547,775.78 in the same period last year, representing a growth of 113.5%[31] Assets and Liabilities - Total assets increased by 27.02% to CNY 18.69 billion compared to the end of the previous year[6] - The total assets of the company reached ¥18,692,618,598.99, up from ¥14,715,780,956.86, indicating strong growth[17] - The total liabilities increased to ¥14,006,957,142.13 from ¥10,330,399,446.51, showing a rise in financial obligations[17] - The company's total liabilities decreased to CNY 7,345,906,170.58 in the first nine months of 2018 from CNY 3,267,085,752.52 in the previous year, indicating a reduction of 124.5%[36] Cash Flow - Net cash flow from operating activities for the first nine months was CNY 1.92 billion, a significant recovery from a negative cash flow of CNY -4.02 billion in the previous year[6] - The net cash flow from operating activities for the first nine months of 2018 was CNY 1,916,492,042.58, a turnaround from a negative cash flow of CNY -4,023,935,847.62 in the same period last year[35] - The company reported a significant decrease in cash flow from financing activities, down 94.45% to ¥200,278,125.50, primarily due to repayment of previous borrowings[13] - The net cash flow from financing activities decreased to -$166,655,240.63 from a positive $3,905,832,201.58 year-over-year[39] Shareholder Information - The total number of shareholders reached 37,222 by the end of the reporting period[9] - The largest shareholder, Baosheng Group Co., Ltd., holds 26.02% of the shares[9] Inventory and Prepayments - Prepayments surged by 536.80% to ¥561,037,566.76, mainly due to increased procurement of raw materials[11] - Inventory rose by 72.74% to ¥2,656,922,826.23, attributed to higher raw material reserves and price increases[11] Research and Development - Research and development expenses for Q3 2018 amounted to ¥137,506,696.11, up from ¥79,013,311.97 in Q3 2017, indicating a significant increase of approximately 74%[30] Earnings Per Share - Basic earnings per share increased by 9.30% to CNY 0.094[7] - The basic earnings per share for Q3 2018 was ¥0.027, slightly down from ¥0.028 in Q3 2017[28] - The company achieved a basic earnings per share of CNY 0.043 in Q3 2018, up from CNY 0.020 in the same quarter last year, reflecting a growth of 115%[32]

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 15,276,979,180.05, representing a 93.33% increase compared to CNY 7,901,871,435.98 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was CNY 81,716,751.34, up 19.05% from CNY 68,638,239.22 in the previous year[17]. - The net profit after deducting non-recurring gains and losses was CNY 78,858,308.62, which is a 27.12% increase from CNY 62,036,633.96 in the same period last year[17]. - The company's total assets increased by 18.94% to CNY 17,502,293,611.16 from CNY 14,715,780,956.86 at the end of the previous year[17]. - The basic earnings per share for the first half of 2018 was CNY 0.067, a 15.52% increase from CNY 0.058 in the previous year[19]. - The diluted earnings per share also stood at CNY 0.067, reflecting the same growth rate of 15.52%[19]. - The weighted average return on net assets increased by 0.27 percentage points to 2.22% from 1.95% in the previous year[19]. - The company reported a slight increase of 0.52% in net assets attributable to shareholders, reaching CNY 3,661,794,885.70 compared to CNY 3,642,897,884.14 at the end of the previous year[17]. - The company's operating revenue increased by 93.33% to CNY 15,276,979,180.05 from CNY 7,901,871,435.98 in the previous year[36]. - Operating costs rose by 97.45% to CNY 14,521,883,628.61, primarily due to increased raw material purchases and higher copper prices[35]. - Financial expenses surged by 122.09% to CNY 227,765,624.45, mainly due to an increase in financing volume during the period[36]. Cash Flow and Investments - The net cash flow from operating activities was negative at CNY -155,921,681.93, compared to CNY -3,426,758,779.28 in the same period last year[17]. - The company invested a total of CNY 644,134,040.00 during the reporting period, representing a 92.45% increase compared to CNY 334,700,171.00 in the previous year[42]. - The cash and cash equivalents at the end of the period amounted to CNY 2,175,283,501.76, a 69.69% increase from CNY 1,281,885,173.12[38]. - The company's short-term borrowings increased by 36.18% to CNY 6,899,286,857.53, reflecting a rise in financing activities[38]. - The company's inventory rose by 62.16% to CNY 2,494,265,303.37, driven by increased raw material reserves and price hikes[38]. Business Strategy and Market Position - The company has adopted a "R&D + production + marketing + service" business model to enhance product and market structure, focusing on customer needs and increasing enterprise value[23]. - The company has increased investment in R&D for new products and technologies, optimizing existing products to enhance quality and market position[23]. - The company has implemented a "2236" marketing transformation strategy, transitioning to a dual-driven marketing model combining self-marketing and personnel marketing[23][31]. - The company aims to expand its market share by targeting high-end markets and strategic customers, particularly in aerospace, military, and specialized cable sectors[31]. - The company is focusing on technological innovation, collaborating with renowned universities and research institutions to enhance core technologies and practical new technologies[31]. - The company is committed to risk management and quality control, implementing strict oversight and accountability measures for project execution and operational efficiency[31]. Shareholder and Corporate Governance - The company has not disclosed any plans for profit distribution or capital reserve transfer to increase share capital during the reporting period[4]. - The company will not use its controlling position to limit the normal business opportunities of the listed company and will treat all subsidiaries fairly according to market principles[58]. - The company and its controlled enterprises will not provide financial assistance or compensation to other issuers in the non-public offering, ensuring no related party transactions exist[59]. - The company has no major litigation or arbitration matters during the reporting period[60]. - There are no significant changes in the company's stock incentive plan or employee stock ownership plan during the reporting period[61]. - The company has not disclosed any major related party transactions that have subsequent developments or changes[62]. - The company has no major contracts or leasing matters that require disclosure[70]. - The company has not experienced any bankruptcy reorganization matters during the reporting period[60]. - The company has not received any penalties or corrective actions related to its directors, supervisors, senior management, or controlling shareholders[60]. Risk Factors - The company faces risks from macroeconomic fluctuations leading to a decline in market demand and plans to actively explore new business areas to enhance risk resistance[50]. - The wire and cable market is facing intensified competition, with increased penetration of foreign enterprises in the mid-to-low-end market, requiring domestic companies to enhance service and innovation capabilities to cope with competition[51]. - The risk of raw material price fluctuations is significant, with the cost of major raw materials accounting for over 70% of production costs[51]. - The company will prudently select partners and customers to control accounts receivable and bad debt risks[50]. Accounting and Financial Reporting - The financial statements are prepared on a going concern basis, indicating the company's expectation of sufficient resources to continue operations for the next 12 months[141]. - The company adheres to the accounting standards for enterprises, ensuring that financial statements reflect a true and complete picture of its financial status and operating results[142]. - The company applies specific accounting treatments for mergers and acquisitions, distinguishing between same-control and non-same-control mergers[146][148]. - The company recognizes impairment losses for financial assets measured at cost or amortized cost when the present value of expected future cash flows is less than the carrying amount[164]. - The company recognizes significant receivables individually for impairment testing when the balance exceeds CNY 10 million for accounts receivable or CNY 3 million for other receivables[169].

2018 年第一季度报告 2018 年第一季度报告 公司代码：600973 公司简称：宝胜股份 宝胜科技创新股份有限公司 2018 年第一季度报告 1 / 18 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 5 | | 四、 | 附录 8 | 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人杨泽元、主管会计工作负责人夏成军及会计机构负责人（会计主管人员）夏成军 保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 非经常性损益项目和金额 √适用 □不适用 单位：元 币种：人民币 | 项目 | 本期金额 | 说明 | | --- | --- | --- | | 非流动资产处置损益 | -24,338.17 | | | 越权审批，或无正式批准文件，或偶发性的税收返还、减免 | | | ...

Financial Performance - The company's operating revenue for 2017 was ¥20,691,164,048.09, representing a 36.79% increase compared to ¥15,126,698,586.35 in 2016[22] - The net profit attributable to shareholders of the listed company decreased by 67.54% to ¥86,237,388.92 from ¥265,669,135.19 in the previous year[22] - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 82.51% to ¥38,626,462.92 compared to ¥220,813,103.52 in 2016[22] - The net cash flow from operating activities was negative at -¥1,571,162,967.43, a significant decline from ¥1,604,887,191.49 in 2016[22] - Basic earnings per share decreased by 76.17% to CNY 0.071 in 2017 compared to CNY 0.298 in 2016[23] - The weighted average return on equity fell by 8.63 percentage points to 2.40% in 2017 from 11.03% in 2016[23] - Total operating income for Q4 2017 reached CNY 7,796,876,888.5, while the net profit attributable to shareholders was a loss of CNY 14,188,002.8[24] - The company reported a cash flow from operating activities of -CNY 1,776,458,236.26 in 2017, compared to -CNY 1,650,300,543.02 in 2016[25] - Net profit decreased by 68.23% to ¥85,973,360.75, while net profit attributable to the parent company fell by 67.54% to ¥86,237,388.92[48] - Operating costs rose by 40.44% to ¥19,473,854,219.75, primarily due to increased raw material procurement and rising copper prices[50] Assets and Liabilities - Total assets increased by 32.14% to ¥14,715,780,956.86 from ¥11,136,093,576.53 in 2016[22] - The company's net assets attributable to shareholders increased by 1.14% to ¥3,642,897,884.14 compared to ¥3,601,819,443.14 in the previous year[22] - The company reported a net cash flow from operating activities of -1,571,162,967.43 CNY, a decline from 1,604,887,191.49 CNY in the previous year, primarily due to rising raw material prices and increased accounts receivable[65] - The company's financial expenses increased by 54.93% to 345,620,725.95 CNY, attributed to increased financing and new acquisitions[61] - The inventory level rose to 1,538,139,405.93 CNY, a 49.74% increase from the previous year, driven by rising raw material prices and stockpiling due to new acquisitions[67] - The company’s cash and cash equivalents decreased by 38.26% to 1,281,885,173.12 CNY, mainly due to expansion and acquisitions[66] Dividends and Shareholder Returns - The proposed cash dividend is ¥0.22 per 10 shares, totaling ¥26,886,475.35, which accounts for 31.18% of the net profit attributable to shareholders for 2017[5] - The cash dividend for 2017 is set at ¥0.22 per 10 shares, based on a total share capital of 1,222,112,516 shares[99] - The company distributed cash dividends totaling ¥81,474,167.79 for the 2016 fiscal year, with a proposed distribution of ¥26,886,475.35 for 2017, representing 31.18% of the net profit attributable to shareholders[99] Research and Development - Research and development expenses increased to ¥347,651,988.36, up from ¥258,217,085.19, indicating a focus on innovation[50] - The company completed 45 new product R&D projects in 2017, with 4 products rated as internationally advanced, and obtained 12 authorized patents, including 5 invention patents[44] - The company plans to develop over 10 invention patents and at least 20 star or super star products across all subsidiaries in 2018[88] - The company intends to establish strategic partnerships with at least 30 research institutions throughout the year to enhance technology innovation[88] - The company is focusing on high-end wire and cable research and development to meet the increasing demands of downstream industries[83] Market and Industry Position - The cable manufacturing industry remains highly fragmented with low market concentration, while the company ranks among the top in comprehensive strength within the industry[31] - The company has formed strategic partnerships with key clients and technology firms, including UL and China Nuclear, to enhance its market position and technological capabilities[44] - The company is actively expanding its market presence through major projects, including the "Belt and Road" initiative and significant infrastructure developments[44] - The company aims to enhance its competitive edge by focusing on innovation, brand development, and improving marketing quality in the highly competitive wire and cable industry[84] - The company is committed to transforming from a product manufacturer to a service-oriented manufacturer through systematic integration and innovation[85] Risk Management - The company has outlined potential risks in its future development, including industry and market risks[7] - The company faces risks related to the concentration of major raw material suppliers, particularly copper rods, which could impact production costs if suppliers fail to deliver on time[97] - The company is at risk of losing core technical personnel due to increasing market competition, which could affect its competitive advantage[95] - The company plans to strengthen risk management mechanisms to achieve zero operational risks across various categories[90] Corporate Governance - The report includes a standard unqualified audit opinion from the accounting firm Zhongshen Zhonghuan[4] - The company held 4 shareholder meetings and 12 board meetings in 2017, emphasizing its focus on corporate governance and shareholder rights[137] - The company has established a strong investor relations management system, enhancing communication through various channels including announcements and direct interactions[138] - The company has a diverse board with members holding various educational backgrounds, including master's degrees and engineering qualifications, enhancing its strategic capabilities[171] - The overall governance structure remains robust, with no reported conflicts of interest among board members and management[166] Employee and Talent Management - The company has optimized its talent structure, with the proportion of technical personnel increasing from 3.76% to 5.14%[44] - The company targets to recruit 20 high-level technical talents and 30 high-quality management talents in 2018[91] - The company has established a salary management system that links compensation to performance evaluations[177] - The company has implemented various training programs for employees, including onboarding and skills training[178] Social Responsibility and Sustainability - The company actively participated in social responsibility initiatives, including poverty alleviation efforts, visiting 44 low-income households and providing financial support[144] - Baosheng Co. has implemented green office practices and energy-saving technologies, significantly reducing resource consumption in its operations[142] Financial Instruments and Debt Management - The company issued a total of 600 million RMB in bonds, with an interest rate of 5.48%, and all funds were used to repay bank loans[192][193]. - The company received a credit rating of AA for its bonds, with a stable outlook as per the report from Pengyuan Credit Rating Co., Ltd.[194]. - The company has maintained effective internal financial controls, with no significant deficiencies reported[189]. - The company’s bond interest payments are scheduled annually on March 6, with the next payment due in 2018[192].

2017 年第三季度报告 公司代码：600973 公司简称：宝胜股份 宝胜科技创新股份有限公司 2017 年第三季度报告 1 / 20 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 8 | 2017 年第三季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人杨泽元、主管会计工作负责人夏成军及会计机构负责人（会计主管人员）夏成军 保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 3 / 20 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上 年度末增减(%) 总资产 14,049,513,169.82 11,136,093,576.53 26.16 归属于上市公司股东的净资产 ...

Financial Performance - The company's operating revenue for the first half of 2017 was approximately RMB 7.90 billion, representing a 9.35% increase compared to RMB 7.23 billion in the same period last year[16]. - The net profit attributable to shareholders for the first half of 2017 was approximately RMB 68.64 million, a decrease of 23.72% from RMB 89.98 million in the previous year[16]. - The net cash flow from operating activities was negative RMB 3.43 billion, a significant decline of 397.50% compared to negative RMB 688.79 million in the same period last year[16]. - The total assets at the end of the reporting period were approximately RMB 12.65 billion, an increase of 13.56% from RMB 11.14 billion at the end of the previous year[16]. - The net assets attributable to shareholders at the end of the reporting period were approximately RMB 3.59 billion, a slight decrease of 0.20% from RMB 3.60 billion at the end of the previous year[16]. - The basic earnings per share for the first half of 2017 were RMB 0.058, down 22.67% from RMB 0.075 in the same period last year[18]. - The diluted earnings per share were also RMB 0.058, reflecting the same percentage decrease of 22.67% compared to the previous year[18]. - The weighted average return on net assets was 1.95%, a decrease of 0.75 percentage points from 2.70% in the same period last year[18]. Operational Highlights - The company achieved a production and sales volume exceeding 140,000 tons in the first half of the year, with copper and aluminum consumption surpassing 71,000 tons and industrial electricity usage at 63.85 million kWh, including 5.24 million kWh from photovoltaic power generation[21]. - The company signed a strategic cooperation agreement with Evergrande Group in March, leading to a significant increase in orders for major projects and subway projects following the "Aokai Cable Incident"[22]. - The company has completed the construction of the factory for the aluminum alloy cable phase III project, with equipment installation expected to be completed soon, and the underwater cable project is currently under construction with an expected production start by the end of next year[23]. - A total of 85 new product R&D projects were initiated this year, with 4 projects completed ahead of schedule and 24 patents obtained, while collaborations with 34 leading industry research institutes have been established[24]. - The company has established a comprehensive marketing network with 11 major regions, 27 regional marketing companies, and 63 stationed marketing companies, employing over 500 sales personnel[28]. - The company has introduced over 200 sets of advanced production and testing equipment from Europe, the United States, and Japan, with 80% of its equipment being newly purchased, ensuring product quality control at a leading domestic level[30]. Financial Position and Liabilities - The company's short-term borrowings surged by 245.88% to CNY 5,156,089,068.80 from CNY 1,490,709,394.04, reflecting a strategic adjustment in financing structure[42]. - The inventory level increased by 56.74% to CNY 1,610,094,487.22, attributed to rising raw material prices and proactive stocking[42]. - The total liabilities increased to CNY 7,538,287,383.91 from CNY 6,401,275,737.95, reflecting a growth of 17.7%[111]. - The debt-to-asset ratio increased to 67.84% from 64.44%, an increase of 3.40 percentage points due to higher short-term borrowings[100]. Cash Flow and Financing Activities - The cash flow from financing activities saw a significant increase of 126.43%, reaching CNY 2,967,455,887.24 compared to CNY 1,310,534,510.69 in the previous year[38]. - The company incurred operating cash outflows totaling CNY 11,515,216,136.46, compared to CNY 8,742,276,221.82 in the previous year, reflecting an increase of 31.5%[121]. - The net cash flow from financing activities was ¥3,226,877,206.05, significantly higher than ¥1,280,589,383.41 in the previous period, showing strong financing support[125]. Risks and Challenges - The company is facing intensified competition in the wire and cable industry, with many small and medium enterprises experiencing operational difficulties, leading to industry consolidation trends[35]. - The company faces risks from macroeconomic fluctuations affecting market demand, particularly in traditional industries[52]. - The increasing competition in the wire and cable market necessitates continuous R&D investment and product innovation to maintain competitiveness[52]. - The company has seen a rise in accounts receivable, increasing the risk of bad debts, prompting careful selection of partners and credit control[53]. - The company relies heavily on copper, which constitutes approximately 80% of product costs, making it vulnerable to raw material price fluctuations[53]. Corporate Governance and Compliance - The company did not report any significant risks or non-operational fund occupation by controlling shareholders[3]. - The report did not include any forward-looking statements or commitments to investors, emphasizing the importance of recognizing investment risks[2]. - The company held its first extraordinary general meeting on January 16, 2017, to approve significant resolutions including the change of accounting firm[56]. - The company does not plan to distribute profits or increase capital reserves through stock conversion for the half-year period[57]. - The company has committed to avoiding competition with its listed subsidiary and will take necessary measures to prevent conflicts of interest during its control period[57]. Shareholder Information - The total number of ordinary shareholders reached 37,833 by the end of the reporting period[77]. - The top ten shareholders held a total of 1,223,000,000 shares, accounting for 100% of the total shares[78]. - Baoshan Group Limited Company is the largest shareholder, holding 318,003,448 shares, which is 26.02% of the total shares[78]. - The total number of restricted shares increased by 84,796,250 during the reporting period, bringing the total restricted shares to 327,071,250[76]. Investment and R&D - The company is actively promoting digital transformation initiatives, including the construction of a digital factory and electronic warehouse, to enhance its information management capabilities[25]. - Research and development expenses slightly increased by 0.83% to CNY 189,448,657.33, indicating a continued focus on innovation[38]. - The company is investing in new technology development, allocating $50 million for R&D in the upcoming year[174]. Accounting and Financial Reporting - The company’s financial statements comply with the requirements of the enterprise accounting standards, reflecting its financial position and operating results accurately[152]. - The company recognizes goodwill when the acquisition cost exceeds the fair value of identifiable net assets acquired[158]. - The company consolidates all subsidiaries based on control, reflecting the overall financial position, operating results, and cash flows of the group[160].

2017 年第一季度报告 公司代码：600973 公司简称：宝胜股份 宝胜科技创新股份有限公司 2017 年第一季度报告 1 / 19 | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 9 | 2017 年第一季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 3 / 19 非经常性损益项目和金额 √适用 □不适用 单位：元 币种：人民币 单位：股 | 股东总数（户） | | | | | | 44,848 | | --- | --- | --- | --- | --- | --- | --- | | 前十名股东持股情况 | | | | | | | | 股东名称（全称） | 期末持股 | 比例(%) | 持有有限售条 | 质押或冻结情况 | 股东性质 | | 4 / 19 项目 本期金额 说明 非流动资产处置损益 -49,551.45 越权审批，或无正式批准文件，或偶发性的税收返还、减免 计入当期损益的政府补助，但与公司正常经营业务密切相关，符 合国家政策规定、按照一定标 ...