证券代码：601100 证券简称：恒立液压 公告编号：2023- 030 江苏恒立液压股份有限公司 会议召开时间：2023 年 09 月 27 日(星期三) 下午 16:00- 17:00 会议召开地点：上海证券交易所上证路演中心（网址： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2023 年 09 月 20 日(星期三) 至 09 月 26 日(星期 二)16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或 通过公司邮箱 hlzqb@hengli.net 进行提问。公司将在说明会上对投 资者普遍关注的问题进行回答。 江苏恒立液压股份有限公司（以下简称"公司"）已于 2023 年 8 月 29 日发布公司 2023 年半年度报告，为便于广大投资者更全面 深入地了解公司 2023 年半年度经营成果、财务状况，公司计划于 2023 年 09 月 27 日 下午 16:00-17:00 举行 2023 年半年度业绩说明 会，就投资者关心的问题进行交流。 一、 说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2023 年半 年度 ...

Financial Performance - The company achieved a net profit of ¥1,291,303,170.39 for the year 2022, with a statutory reserve of ¥77,015,000.18 and distributed dividends of ¥952,912,800.00 for the previous year[2]. - The proposed cash dividend for 2022 is ¥6.20 per 10 shares, totaling ¥831,309,015.04, with retained earnings of ¥2,607,059,817.46 to be carried forward[2]. - The total available profit for distribution to shareholders at the end of the reporting period was ¥3,438,368,832.50[2]. - The company's operating revenue for 2022 was ¥8,196,713,892.30, a decrease of 11.95% compared to ¥9,309,218,098.53 in 2021[15]. - The net profit attributable to shareholders for 2022 was ¥2,342,722,203.00, down 13.03% from ¥2,693,599,997.73 in the previous year[15]. - The net cash flow from operating activities decreased by 26.18% to ¥2,063,626,782.41 in 2022 from ¥2,795,650,375.60 in 2021[15]. - Basic earnings per share for 2022 were ¥1.79, a decline of 13.11% from ¥2.06 in 2021[16]. - The weighted average return on equity decreased to 22.60% in 2022 from 32.83% in 2021, a drop of 10.23 percentage points[16]. - The company reported a net profit of ¥692,106,722.94 in Q3 2022, with a total revenue of ¥2,033,133,653.67 for that quarter[19]. - Non-recurring gains and losses for 2022 amounted to ¥111,931,387.78, compared to ¥136,099,507.91 in 2021[20]. Market and Sales Performance - Revenue from hydraulic cylinder products fell by 12% year-on-year, while revenue from hydraulic pump and valve products decreased by 15% due to the downturn in the downstream industry[16]. - In 2022, excavator sales in China decreased by 44.6% year-on-year, totaling 151,889 units, while exports increased by 59.8%, reaching 109,457 units[25]. - The company achieved stable growth in non-standard hydraulic cylinder sales, particularly in emerging sectors, and increased its market share in overseas excavator cylinder sales[24]. - Domestic sales revenue was 6.414 billion RMB, a decrease of 20.43% year-on-year, while foreign sales revenue increased by 41.94% to 1.753 billion RMB[30]. Research and Development - The company has developed 538 new products in 2022, with 323 of them outside the construction machinery sector, maintaining a product quality rate above 98%[26]. - The company is focusing on electric control technology, with its electric control products gaining market share in the excavator sector[26]. - The company is committed to increasing R&D investment to drive future growth and profitability improvements[26]. - The company holds a total of 584 valid patents, including 13 foreign invention patents and 85 domestic invention patents[27]. - The company’s R&D expenses amounted to ¥649,953,443.75, representing 7.93% of total revenue, with no capitalized R&D expenses[40]. Strategic Development - The company plans to continue its strategic development and expansion in the hydraulic equipment market[2]. - The company plans to invest 25 million yuan in the Hengli Mexico project, which is currently under construction and expected to be operational by Q4 2023[24]. - The company is advancing its strategic projects, including the linear actuator project with an investment of 140 million yuan, expected to be operational by Q1 2024[24]. - The company aims for a 10% year-on-year growth in revenue for 2023[52]. - The company intends to accelerate its internationalization strategy, particularly in Europe, North America, and Southeast Asia[54]. Financial Position and Assets - The company's total assets increased by 31.37% to ¥16,201,076,162.33 at the end of 2022, compared to ¥12,332,043,327.93 at the end of 2021[15]. - Cash and cash equivalents at the end of the period reached ¥6,886,222,371.48, accounting for 42.50% of total assets, an increase of 89.04% compared to the previous period[43]. - The company's total equity rose to ¥12,677,936,185.41, which is 78.25% of total assets, reflecting a 37.22% increase due to funds raised from a private placement of shares[44]. - The company reported a significant increase in contract liabilities, which rose by 206.78% to ¥366,370,753.80, accounting for 2.26% of total assets, due to an increase in advance payments from signed sales contracts[43]. Governance and Compliance - The company’s financial report has been audited by Rongcheng Accounting Firm, which issued a standard unqualified audit opinion[2]. - The company’s board of directors and supervisory board members have all attended the board meeting, ensuring accountability for the report's accuracy[2]. - The company has established internal control systems and conducted audits, with no significant deficiencies reported during the period[90][92]. - The company has not faced any administrative penalties due to environmental issues during the reporting period[100]. - The company has not reported any changes in shareholding for its directors and senior management during the reporting period[62]. Environmental and Social Responsibility - The company has invested RMB 1,300,000 in environmental protection during the reporting period[94]. - The company plans to construct a grid-connected photovoltaic power generation system with a capacity of 5,245.9 kWp, expected to save 1,593.34 tons of standard coal and reduce carbon emissions by 9,120 tons per year[102]. - The company has allocated RMB 144,000 for social responsibility initiatives, including donations and public welfare projects[104]. - The company is focusing on sustainability initiatives, aiming to reduce operational carbon emissions by 25% over the next five years[65]. Shareholder Information - The company achieved a net profit of ¥1,291,303,170.39 in 2022, with a proposed cash dividend of ¥6.20 per 10 shares, totaling ¥831,309,015.04 to be distributed to shareholders[86]. - The total number of ordinary shareholders increased to 40,989 by the end of the reporting period, up from 39,119[122]. - The company declared a cash dividend of RMB 831,309,015.04, which accounts for 35.48% of the net profit attributable to ordinary shareholders in the consolidated financial statements[88]. Risk Management - The company faces risks related to policy changes, market fluctuations, exchange rate volatility, and raw material price fluctuations[54]. - The company has not reported any significant litigation or arbitration matters during the reporting period[111]. - The company will not engage in any competing business activities that may harm its interests, as per commitments from its controlling shareholders[107].

Financial Performance - The company's operating revenue for Q1 2023 was ¥2,427,015,613.46, representing a 10.30% increase compared to ¥2,200,388,645.04 in the same period last year[4]. - Net profit attributable to shareholders was ¥625,523,317.19, an 18.44% increase from ¥528,156,293.19 year-on-year[4]. - Basic earnings per share rose to ¥0.47, up 20.51% from ¥0.40 in the same period last year[5]. - Net profit for Q1 2023 was ¥626,522,607.07, compared to ¥529,018,257.66 in Q1 2022, representing a year-over-year increase of 18.5%[21]. - Earnings per share for Q1 2023 were ¥0.47, up from ¥0.39 in Q1 2022, indicating a growth of 20.5%[22]. - The company reported a total comprehensive income of ¥650,059,844.80 for Q1 2023, compared to ¥525,353,835.82 in Q1 2022, indicating an increase of 23.7%[22]. Cash Flow - The net cash flow from operating activities increased by 22.95% to ¥350,620,286.11 from ¥285,167,319.54 in the previous year[5]. - In Q1 2023, the net cash flow from operating activities was CNY 350,620,286.11, an increase of 23% compared to CNY 285,167,319.54 in Q1 2022[24]. - The total cash inflow from operating activities was CNY 1,956,119,496.78, slightly down from CNY 1,976,040,633.10 in the same period last year[24]. - The cash outflow for operating activities decreased to CNY 1,605,499,210.67 from CNY 1,690,873,313.56, reflecting improved operational efficiency[24]. - The cash flow from investing activities showed a net inflow of CNY 191,551,785.25, compared to CNY 142,797,219.23 in the previous year[24]. - The cash inflow from investment activities was CNY 455,445,964.30, significantly lower than CNY 1,283,157,067.15 in Q1 2022, indicating a reduction in investment recovery[24]. - The cash outflow for investment activities was CNY 263,894,179.05, down from CNY 1,140,359,847.92 in the same quarter last year[24]. - The net cash flow from financing activities was negative at CNY -24,472,377.61, an improvement from CNY -161,840,798.66 in Q1 2022[24]. Assets and Liabilities - The company's total assets at the end of the reporting period were ¥16,949,830,357.87, a 4.62% increase from ¥16,201,076,162.33 at the end of the previous year[5]. - Total current assets as of March 31, 2023, amounted to 12,933,491,386.75 RMB, an increase from 12,326,695,954.97 RMB in the previous year[17]. - Cash and cash equivalents increased to 7,397,731,657.22 RMB from 6,886,222,371.48 RMB year-over-year[17]. - Accounts receivable rose to 1,407,593,943.71 RMB, up from 1,111,907,680.73 RMB in the previous year, indicating a growth of approximately 26.6%[17]. - Inventory as of March 31, 2023, was 1,790,537,782.43 RMB, slightly up from 1,765,545,027.07 RMB year-over-year[17]. - Total non-current assets reached 4,016,338,971.12 RMB, compared to 3,874,380,207.36 RMB in the previous year[18]. - Total liabilities as of Q1 2023 amounted to ¥3,619,471,359.18, an increase from ¥3,523,139,976.92 in the previous year[19]. - Total equity attributable to shareholders reached ¥13,281,355,098.99 in Q1 2023, up from ¥12,629,977,725.49 in Q1 2022, reflecting a growth of 5.1%[19]. Shareholder Information - Total number of common shareholders at the end of the reporting period was 39,119[13]. - The largest shareholder, Changzhou Hengyi Intelligent Equipment Co., Ltd., holds 495,474,869 shares, accounting for 36.95% of total shares[13]. Research and Development - Research and development expenses increased to ¥141,424,687.70 in Q1 2023, compared to ¥113,529,375.51 in Q1 2022, marking a rise of 24.6%[20]. Taxation - The company reported a 1,422.85% increase in tax refunds received, primarily due to the return of excess value-added tax[10]. - The company received CNY 5,312,474.54 in tax refunds, a significant increase from CNY 348,850.28 in the previous year[24]. - The company reported a decrease in cash paid for taxes to CNY 155,760,100.80 from CNY 216,465,897.41 in Q1 2022, indicating a favorable tax environment[24]. Other Information - The company completed the registration of a non-public stock issuance, increasing the total share capital to 1,340,820,992 shares[6]. - The company has not disclosed any significant new strategies or product developments in the current report[16].

证券代码：601100 证券简称：恒立液压 公告编号： 临 2023-022 江苏恒立液压股份有限公司 关于召开 2022 年度暨 2023 年第一季度业绩说明会的 公告 重要内容提示： 会议召开时间：2023 年 05 月 22 日(星期一) 下午 16:00-17:00 会议召开地点：上海证券交易所上证路演中心（网址： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心视频直播和网络互动 投资者可于 2023 年 05 月 15 日(星期一) 至 05 月 19 日(星期 五)16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或 通过公司邮箱 hlzqb@hengli.net 进行提问。公司将在说明会上对投 资者普遍关注的问题进行回答。 江苏恒立液压股份有限公司（以下简称"公司"）已于 2023 年 4 月 25 日发布公司 2022 年度报告及 2023 年第一季度报告，为便于广 大投资者更全面深入地了解公司2022年度及2023 年第一季度经营成 果、财务状况，公司计划于 2023 年 05 月 22 日 下午 16:00-17:00 举行 2022 年度 ...

Financial Performance - The company's operating revenue for Q3 2022 was ¥2,033,133,653.67, representing a year-on-year increase of 3.96%[4] - The net profit attributable to shareholders for Q3 2022 was ¥692,106,722.94, an increase of 19.98% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥674,989,792.10, reflecting a 24.14% increase year-on-year[4] - Total revenue for the first three quarters of 2022 was CNY 5,919,577,855.73, a decrease of 17.6% compared to CNY 7,182,561,041.30 in the same period of 2021[17] - Net profit for Q3 2022 was CNY 1,752,603,492.72, a decrease of 12.0% from CNY 1,990,146,269.35 in Q3 2021[18] - Operating profit for Q3 2022 was CNY 1,961,412,241.31, down from CNY 2,259,089,036.37 in Q3 2021, a decline of 13.2%[18] - The total comprehensive income for the period was CNY 1,804,119,792.50, a decrease from CNY 1,970,117,327.34 in the previous year[19] - Basic earnings per share for the period was CNY 1.34, down from CNY 1.52 in the same period last year[19] Assets and Liabilities - The total assets at the end of the reporting period were ¥13,662,029,533.21, a 10.78% increase from the end of the previous year[5] - Total assets increased to CNY 13,662,029,533.21 in Q3 2022, compared to CNY 12,332,043,327.93 in Q3 2021, marking a growth of 10.8%[16] - Total liabilities rose to CNY 3,567,637,605.96 in Q3 2022, up from CNY 3,092,775,476.26 in Q3 2021, indicating an increase of 15.4%[16] - The company's total equity reached CNY 10,094,391,927.25 in Q3 2022, compared to CNY 9,239,267,851.67 in Q3 2021, reflecting a growth of 9.3%[16] Cash Flow - The cash flow from operating activities for the year-to-date was ¥1,419,728,736.46, down 32.62% year-on-year[5] - Cash flow from operating activities generated a net amount of CNY 1,419,728,736.46, compared to CNY 2,107,091,733.25 in the previous year[20] - Cash inflow from investment activities totaled CNY 2,702,798,807.77, while cash outflow was CNY 2,871,985,615.73, resulting in a net cash flow of -CNY 169,186,807.96[21] - Cash flow from financing activities resulted in a net cash outflow of -CNY 554,487,974.41, compared to -CNY 427,791,439.78 in the previous year[21] - The ending balance of cash and cash equivalents was CNY 4,656,496,264.11, an increase from CNY 3,362,673,257.68 in the previous year[21] Shareholder Information - Total number of common shareholders at the end of the reporting period is 52,871[10] - The largest shareholder, Changzhou Hengyi Intelligent Equipment Co., Ltd., holds 495,474,869 shares, accounting for 37.96% of total shares[10] - The company has a total of 221,170,269 shares held by Sinno Technology (Hong Kong) Limited, representing 16.94% of total shares[10] - The company has a total of 178,186,340 shares held by Ningbo Hengyi Investment Co., Ltd., accounting for 13.65% of total shares[10] Operational Highlights - The company's main product sales, particularly excavator cylinders and hydraulic pumps, saw a decline of 22% and 25% respectively due to the downturn in downstream industry demand[9] - The company reported a significant increase in goodwill of 132.75% due to the acquisition of Hengli Surface[8] - The company experienced a 50.94% decrease in advance receipts due to uncontracted sales at the end of the reporting period[8] Current Assets - Total current assets as of September 30, 2022, amount to ¥10,103,683,562.93, an increase from ¥9,146,046,320.11 at the end of 2021[14] - Cash and cash equivalents are reported at ¥4,711,806,398.54, up from ¥3,642,807,377.77 year-over-year[14] - Accounts receivable increased to ¥1,127,339,215.60 from ¥1,112,123,571.59 in the previous year[14] - Inventory has risen to ¥1,795,951,273.15 compared to ¥1,606,653,422.76 at the end of 2021[14] - Non-current assets include fixed assets valued at ¥2,546,916,885.37, slightly down from ¥2,579,905,097.22[14] - The company has invested in intangible assets totaling ¥434,761,194.93, an increase from ¥266,501,623.76[14] Expenses - Total operating costs for the first three quarters of 2022 were CNY 4,009,816,231.81, down from CNY 4,983,903,299.72 in 2021, reflecting a reduction of 19.5%[17] - Research and development expenses for Q3 2022 amounted to CNY 499,655,393.87, slightly up from CNY 483,144,815.58 in Q3 2021[18] - The company reported a decrease in sales expenses to CNY 74,207,286.71 in Q3 2022 from CNY 61,938,136.57 in Q3 2021, an increase of 19.5%[18] Tax and Refunds - The company reported a tax refund of CNY 11,131,115.32, compared to CNY 2,416,081.04 in the previous year[20]

Financial Performance - The company's operating revenue for Q3 2022 was ¥2,033,133,653.67, representing a year-on-year increase of 3.96%[4] - The net profit attributable to shareholders for Q3 2022 was ¥692,106,722.94, an increase of 19.98% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥674,989,792.10, reflecting a 24.14% increase year-on-year[4] - Total revenue for the first three quarters of 2022 was CNY 5,919,577,855.73, a decrease of 17.6% compared to CNY 7,182,561,041.30 in the same period of 2021[17] - Net profit for the first three quarters of 2022 was CNY 1,752,603,492.72, compared to CNY 1,990,146,269.35 in 2021, indicating a decline of 11.9%[18] - Total comprehensive income for the period was CNY 1,804,119,792.50, a decrease from CNY 1,970,117,327.34 in the previous year[19] - Basic earnings per share decreased to CNY 1.34 from CNY 1.52 year-over-year[19] Assets and Liabilities - The total assets at the end of the reporting period were ¥13,662,029,533.21, an increase of 10.78% compared to the end of the previous year[5] - Total assets increased to CNY 13,662,029,533.21 in Q3 2022, compared to CNY 12,332,043,327.93 in Q3 2021, representing a growth of 10.8%[16] - Total liabilities rose to CNY 3,567,637,605.96 in Q3 2022, up from CNY 3,092,775,476.26 in Q3 2021, marking an increase of 15.4%[16] - The company's equity attributable to shareholders reached CNY 10,049,231,532.06 in Q3 2022, compared to CNY 9,195,704,137.13 in Q3 2021, reflecting a growth of 9.3%[16] Cash Flow - The cash flow from operating activities for the year-to-date was ¥1,419,728,736.46, a decrease of 32.62% compared to the same period last year[5] - Net cash flow from operating activities was CNY 1,419,728,736.46, down from CNY 2,107,091,733.25 in the same period last year[20] - Cash inflow from operating activities totaled CNY 5,125,384,670.90, compared to CNY 6,602,722,127.32 in the previous year[20] - Cash outflow from operating activities was CNY 3,705,655,934.44, a decrease from CNY 4,495,630,394.07 year-over-year[20] - Net cash flow from investing activities was CNY -169,186,807.96, improving from CNY -856,255,844.24 in the previous year[21] - Cash inflow from investing activities was CNY 2,702,798,807.77, compared to CNY 2,926,368,813.35 in the previous year[21] - Cash flow from financing activities resulted in a net outflow of CNY -554,487,974.41, compared to CNY -427,791,439.78 in the previous year[21] - The ending cash and cash equivalents balance was CNY 4,656,496,264.11, up from CNY 3,362,673,257.68 year-over-year[21] Shareholder Information - Total number of common shareholders at the end of the reporting period is 52,871[10] - The largest shareholder, Changzhou Hengyi Intelligent Equipment Co., Ltd., holds 495,474,869 shares, accounting for 37.96% of total shares[10] - The top ten shareholders collectively hold a significant portion of the company's shares, indicating concentrated ownership[11] Operational Highlights - The company's excavator cylinder product revenue declined by 22% year-on-year, while hydraulic pump and valve product revenue decreased by 25%[9] - The company reported a significant increase in goodwill by 132.75% due to the acquisition of Hengli Surface[8] - The company experienced a 55.46% decrease in notes receivable at the end of the reporting period, attributed to improved customer payment structures[8] - The company received government subsidies amounting to ¥12,155,038.83 during the reporting period, which are closely related to its normal business operations[6] Expenses - Total operating costs for the first three quarters of 2022 were CNY 4,009,816,231.81, down from CNY 4,983,903,299.72 in 2021, reflecting a reduction of 19.5%[17] - Research and development expenses for the third quarter of 2022 amounted to CNY 499,655,393.87, slightly up from CNY 483,144,815.58 in the previous year[18] - The company reported a decrease in sales expenses to CNY 74,207,286.71 in 2022 from CNY 61,938,136.57 in 2021, indicating an increase of 19.5%[18]

Financial Performance - The company's operating revenue for the first half of 2022 was approximately ¥3.89 billion, a decrease of 25.65% compared to ¥5.23 billion in the same period last year[15]. - The net profit attributable to shareholders of the listed company was approximately ¥1.06 billion, down 24.97% from ¥1.41 billion in the previous year[15]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥1.01 billion, a decrease of 26.75% compared to ¥1.38 billion in the same period last year[15]. - The net cash flow from operating activities was approximately ¥1.04 billion, down 12.01% from ¥1.19 billion in the previous year[15]. - Basic earnings per share decreased by 25.00% to CNY 0.81 compared to the same period last year[17]. - Revenue for the reporting period was CNY 3.89 billion, a decline of 25.65% year-on-year[22]. - The total profit for the first half of 2022 was approximately ¥1.24 billion, a decrease of 26% from ¥1.68 billion in the same period of 2021[71]. - The company's operating profit for the first half of 2022 was approximately ¥1.23 billion, down from ¥1.67 billion in the same period of 2021[69]. - The company reported a total comprehensive income of approximately ¥1.06 billion for the first half of 2022, compared to ¥1.39 billion in the same period of 2021[70]. Assets and Liabilities - The total assets at the end of the reporting period were approximately ¥13.09 billion, an increase of 6.12% from ¥12.33 billion at the end of the previous year[16]. - The net assets attributable to shareholders of the listed company at the end of the reporting period were approximately ¥9.30 billion, an increase of 1.16% from ¥9.20 billion at the end of the previous year[16]. - Total liabilities reached ¥3,740,499,511.32, compared to ¥3,092,775,476.26, marking an increase of around 20.9%[62]. - Current liabilities rose to ¥3,326,491,312.09, up from ¥2,690,746,336.75, indicating a significant increase of approximately 23.6%[62]. - Total current assets increased to ¥9,739,290,600.82 from ¥9,146,046,320.11, representing a growth of approximately 6.5%[60]. - The total amount of other current assets at the end of the period is CNY 21,675,051.92, up from CNY 13,847,813.93 at the beginning of the period, which is an increase of about 56.4%[194]. Cash Flow - The company reported a net cash flow from operating activities of CNY 1,04 billion, a decrease of 12.01% year-on-year[22]. - Cash inflow from investment activities totaled CNY 1,968,177,311.48, a decrease of 25.0% from CNY 2,626,373,986.10 in the previous year[74]. - Net cash flow from investment activities was negative at CNY -181,827,066.26, compared to a positive CNY 136,185,038.62 in the first half of 2021[74]. - Cash inflow from financing activities was CNY 163,681,632.46, down 68.4% from CNY 517,569,815.72 in the same period last year[74]. - The ending balance of cash and cash equivalents increased to CNY 4,152,502,177.98, compared to CNY 3,629,447,429.44 at the end of the first half of 2021[75]. Research and Development - Research and development expenses increased by 23.25% to CNY 299.47 million, reflecting higher investment in new product development[22]. - The company's research and development expenses increased to approximately ¥187.45 million in the first half of 2022, up from ¥154.94 million in the same period of 2021[71]. - The company is focusing on market expansion and new product development, although specific figures or timelines were not provided in the report[68]. Environmental and Social Responsibility - The company reported a wastewater discharge of 4.3 tons with a COD concentration of 56 mg/L, well below the standard of 500 mg/L[34]. - The company has established a wastewater treatment station that operates continuously and meets discharge standards[35]. - The company invested over 3.9 million RMB in environmental protection measures in the first half of 2022, including the renovation of LED energy-saving lights[40]. - The company has implemented a carbon peak and carbon neutrality plan for 2021-2025, focusing on energy management and the adoption of energy-saving technologies[40]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period was 50,704[53]. - The largest shareholder, Changzhou Hengyi Intelligent Equipment Co., Ltd., holds 37.96% of the shares, totaling 495,474,869 shares[54]. - The second-largest shareholder, Shennuo Technology (Hong Kong) Co., Ltd., holds 16.94% of the shares, totaling 221,170,269 shares[54]. - The company has committed to distributing at least 10% of its distributable profits as cash dividends annually, with a cumulative distribution of at least 30% of the average annual distributable profits over the next three years[44]. Risk Factors - The company faces risks related to macroeconomic conditions, which could impact customer demand and product sales[29]. - The company has accelerated its international strategy, increasing investments in markets such as Europe, Japan, North America, and Southeast Asia[29]. Related Party Transactions - Total amount of related party transactions reached CNY 28,660,027.91, with specific transactions including CNY 24,828,504.54 for purchasing parts and equipment[48]. - The company has no significant related party transactions during the reporting period[47]. Accounting Policies - The financial statements are prepared based on the going concern principle, with no identified issues affecting the company's ability to continue operations[92]. - The company adheres to the accounting policies and estimates as per the enterprise accounting standards, ensuring the financial statements reflect a true and complete picture of its financial status[94]. - The company applies the acquisition accounting method for business combinations, measuring identifiable assets and liabilities at fair value on the acquisition date[96]. Inventory and Receivables - The total inventory at the end of the period was CNY 1,138,807,723.68, with raw materials accounting for CNY 897,699,823.16 and work in progress for CNY 241,107,900.52[188]. - The total accounts receivable amounted to CNY 290,812,944.35, with a bad debt provision of CNY 10,146,549.96, representing a provision rate of 3.49%[158]. - The accounts receivable financing balance increased by 29.09% compared to the previous period, primarily due to an increase in bank acceptance payments from customers[177].

Financial Performance - The company's operating revenue for Q1 2022 was ¥2,200,388,645.04, representing a decrease of 22.97% compared to the same period last year[4] - The net profit attributable to shareholders was ¥528,156,293.19, down 32.56% year-on-year[4] - The basic earnings per share were ¥0.40, reflecting a decline of 33.33% compared to the previous year[4] - Net profit for Q1 2022 was approximately 529.02 million, a decrease of 32.5% compared to 784.16 million in Q1 2021[21] - Total revenue from operating activities was approximately 1.98 billion, down from 2.16 billion in the same period last year, reflecting a decline of about 8.3%[23] - Operating profit for Q1 2022 was approximately 615.10 million, a decrease of 34.2% compared to 935.24 million in Q1 2021[21] - Total comprehensive income for Q1 2022 was approximately 525.35 million, down from 771.88 million in Q1 2021, reflecting a decline of about 31.9%[22] Assets and Liabilities - The total assets at the end of the reporting period were ¥12,767,001,897.74, an increase of 3.53% from the end of the previous year[5] - The total assets as of March 31, 2022, were RMB 12,767,001,897.74, compared to RMB 12,332,043,327.93 at the end of 2021, reflecting a growth of 3.5%[17] - The total liabilities as of March 31, 2022, were RMB 3,000,091,432.22, a decrease from RMB 3,092,775,476.26 at the end of 2021, indicating a reduction of 3.0%[18] - The company's total equity as of March 31, 2022, was RMB 9,766,910,465.52, an increase from RMB 9,239,267,851.67 at the end of 2021, reflecting a growth of 5.7%[18] Cash Flow - The net cash flow from operating activities was ¥285,167,319.54, down 8.07% year-on-year[4] - Cash flow from operating activities was approximately 285.17 million, a decrease of 8.1% compared to 310.21 million in Q1 2021[23] - Net cash flow from investing activities was $142.8 million, a decrease of 72.9% compared to $526.2 million in the previous period[24] - Total cash inflow from financing activities was $24.3 million, down 92% from $303.7 million in the previous period[24] - Net cash flow from financing activities was -$161.8 million, compared to a positive $40.7 million in the previous period[24] - Cash and cash equivalents at the end of the period totaled $3.84 billion, an increase from $3.47 billion in the previous period[24] - The net increase in cash and cash equivalents was $242.6 million, significantly lower than $890.9 million in the previous period[24] Operational Metrics - The company's hydraulic cylinder product revenue declined by 22% due to a downturn in the downstream industry[8] - The revenue from the subsidiary hydraulic technology decreased by 33% due to a drop in sales[8] - The cash and cash equivalents as of March 31, 2022, amounted to RMB 3,865,306,480.53, an increase from RMB 3,642,807,377.77 at the end of 2021[15] - The inventory as of March 31, 2022, was RMB 1,532,956,881.37, down from RMB 1,606,653,422.76 at the end of 2021, showing a decrease of 4.6%[15] - The accounts receivable as of March 31, 2022, were RMB 1,121,463,412.14, slightly up from RMB 1,112,123,571.59 at the end of 2021, indicating a growth of 0.3%[15] Government Support and Expenses - The company received government subsidies amounting to ¥12,172,753.07, which are closely related to normal business operations[6] - Research and development expenses for Q1 2022 were approximately 113.53 million, slightly down from 114.14 million in Q1 2021[21] - Tax expenses for Q1 2022 were approximately 89.99 million, a decrease of 41.5% compared to 153.38 million in Q1 2021[21] - Other comprehensive income after tax for Q1 2022 was approximately -3.66 million, compared to -12.28 million in Q1 2021[22] - Investment income for Q1 2022 was approximately 12.26 million, significantly up from 3.59 million in Q1 2021, marking an increase of about 241.5%[21]

Financial Performance - The company achieved a net profit of ¥1,238,534,456.27 for the fiscal year 2021, with a statutory reserve of ¥123,853,445.63 and a dividend distribution of ¥783,216,000.00 for the previous year[5]. - The proposed cash dividend for 2021 is ¥7.30 per 10 shares, totaling ¥952,912,800.00, with retained earnings of ¥2,224,080,662.29 to be carried forward[5]. - The total distributable profit available for shareholders at the end of the reporting period was ¥3,176,993,462.29[5]. - The company's operating revenue for 2021 was CNY 9,309,218,098.53, representing an 18.51% increase compared to CNY 7,855,038,369.93 in 2020[21]. - The net profit attributable to shareholders for 2021 was CNY 2,693,599,997.73, a 19.51% increase from CNY 2,253,874,553.32 in 2020[21]. - The net cash flow from operating activities increased by 41.15% to CNY 2,795,650,375.60 in 2021, compared to CNY 1,980,571,208.32 in 2020[21]. - The company's total assets reached CNY 12,332,043,327.93 at the end of 2021, up 16.12% from CNY 10,620,327,083.83 at the end of 2020[21]. - Basic earnings per share for 2021 were CNY 2.06, a 19.08% increase from CNY 1.73 in 2020[22]. - The weighted average return on equity decreased by 1.9 percentage points to 32.83% in 2021, down from 34.73% in 2020[22]. Research and Development - The company increased its R&D investment to enhance long-term competitiveness and improve internal management efficiency[29]. - The company invested 636 million yuan in R&D, a 106% increase compared to the previous year, and filed 72 patent applications, including 10 invention patents[32]. - The company plans to increase R&D investment to enhance product variety and maintain a technological and quality advantage in the hydraulic cylinder market[64]. - The company is focusing on expanding its market share in foreign brands of excavator hydraulic cylinders while continuing to strengthen its leading position in domestic brands[64]. Market Strategy and Expansion - The company plans to continue its strategic focus on market expansion and new product development in the upcoming years[6]. - The company plans to expand its market share in electric control and execution devices to align with the electrification trend in the construction machinery industry[29]. - The company is expanding its international presence with a new factory in Mexico, which is currently in the preparation stage[31]. - The company plans to maintain a borrowing limit of 150 million RMB from its controlling shareholder, with an interest rate of 3% for a term of 36 months[130]. Corporate Governance - The company is committed to ensuring the authenticity, accuracy, and completeness of the annual report[4]. - The audit report issued by the accounting firm is a standard unqualified opinion[4]. - The management team includes experienced professionals with backgrounds in engineering and finance, enhancing the company's strategic direction[77]. - The company has established a robust internal audit and compliance framework, ensuring financial integrity and operational efficiency[77]. - The performance evaluation for executives is based on KPI metrics, ensuring accountability and alignment with company goals[81]. Environmental Responsibility - The company reported a total pollutant discharge of 11.5 tons, with a permitted discharge limit of 30 tons, and no exceedance of standards noted[109]. - Environmental protection investments exceeded 6.6 million yuan in 2021, representing a 37% year-on-year increase[117]. - The company has implemented energy-saving measures, including the replacement of traditional lighting with LED lights, achieving significant energy savings[117]. - The company has established a wastewater treatment station that operates continuously and meets discharge standards[110]. Financial Management - The company has committed to not engaging in any competitive activities that conflict with its business interests, ensuring compliance with its commitments[120]. - The company commits to a stable cash dividend plan, distributing no less than 10% of the annual distributable profit in cash, and a cumulative distribution of at least 30% of the average annual distributable profit over the next three years[122]. - The company has no significant litigation or arbitration matters during the reporting period[126]. - The company has no significant related party transactions involving asset or equity acquisitions or sales during the reporting period[129]. Shareholder Information - The total number of employees in the parent company and major subsidiaries is 5,801, with 4,009 in production roles[95]. - The company reported a total of ¥3,176,993,462.29 available for distribution to shareholders at the end of the reporting period[100]. - The company has established a three-year shareholder return plan from 2021 to 2023[5]. - The company’s major customers accounted for 60.17% of total annual sales, indicating a strong reliance on a few key clients[47]. Risk Management - The company emphasizes the importance of risk awareness regarding future plans and development strategies[7]. - The company faces market risks in its international operations due to various factors such as political and cultural differences[67]. - The company is exposed to exchange rate risks, particularly with its growing North American business involving USD transactions[67]. - The company is vulnerable to fluctuations in raw material prices, including steel and castings, which could impact production costs[67].