Financial Performance - The company's operating revenue for 2022 was CNY 4,120,473,825.71, a decrease of 3.17% compared to CNY 4,255,523,700.47 in 2021[23] - The net profit attributable to shareholders of the listed company increased by 46.09% to CNY 16,962,045.90 from CNY 11,610,406.55 in the previous year[23] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -7,429,579.94, a significant improvement from CNY -49,379,528.42 in 2021, marking an 84.95% change[23] - The company reported a revenue from main business activities of CNY 4,060,665,232.03, down 3.49% from CNY 4,207,609,238.04 in 2021[23] - The company's cash flow from operating activities was 169.39 million RMB, a decrease of 62.13 million RMB compared to the previous year[24] - Total assets at the end of 2022 amounted to 9.19 billion RMB, reflecting a 3.20% increase from the previous year[24] - The weighted average return on equity rose to 0.40%, an increase of 0.11 percentage points from the previous year[25] - Basic earnings per share remained stable at 0.01 RMB, unchanged from 2021[25] - The company reported a net asset attributable to shareholders of 4.30 billion RMB, a slight increase of 0.50% year-on-year[24] - The cash flow from operating activities showed a significant decline of 372.63% compared to the previous year[24] - Non-recurring gains and losses for 2022 totaled 24.39 million RMB, down from 60.99 million RMB in 2021[29] Dividend and Share Capital - The company plans to distribute a cash dividend of CNY 0.3 per 10 shares, totaling CNY 47,433,694.05, based on the increased total share capital of 1,581,123,135 shares[6] - The total share capital increased from 1,288,594,400 shares to 1,581,123,135 shares following the issuance of 292,528,735 A-shares[6] - The cash dividend accounted for 279.65% of the net profit attributable to ordinary shareholders in the consolidated financial statements, which was 16,962,045.90 RMB[196] - The company has established a cash dividend policy that mandates a minimum distribution of 10% of the distributable profit each year[192] Risk Management and Governance - The company has not identified any major risks that could adversely affect its future development strategy or ongoing operations[11] - The company has taken measures to actively respond to operational risks faced during its development[11] - The company’s financial report received a standard unqualified audit opinion from the auditing firm[5] - The company has no instances of non-operating fund occupation by controlling shareholders or related parties[8] - The company maintains independence from its controlling shareholder in terms of personnel, assets, finance, and operations, with no asset encroachment or fund occupation[147] - The company has established a comprehensive internal control system in compliance with relevant laws and regulations, enhancing governance and protecting shareholder rights[151] International Expansion and Market Strategy - The company is focusing on internationalization, intelligence, and green upgrades in its industry strategy[33] - The company accelerated its internationalization process with the establishment of dual bases in Thailand and Cambodia, with the Thailand factory entering full production in 2022, becoming a new growth point for performance[34] - The Cambodia tire project, a significant investment exceeding $100 million, officially commenced production on March 18, 2023, aiming for full capacity by the end of 2024[34] - The company raised a total of ¥1.018 billion through a successful refinancing project in Cambodia, optimizing its industrial layout and shareholder structure[35] - The company expanded its international market channels, successfully developing partnerships with large importers and traders in North America and Europe, leading to sustained growth in overseas sales[39] - The company plans to deepen its international marketing network by establishing more overseas subsidiaries and offices, particularly in the U.S. and Europe, to tap into new markets and customers[134] Research and Development - The company has developed new materials and technologies, including the second-generation XR290Y tire series, which effectively addresses durability and heat generation issues, earning recognition as a "2022 National Market Quality Credit AA User Satisfaction Product"[36] - The company’s high-performance tires for commercial vehicles improved durability by over 20% and enhanced heat dissipation, solidifying its leadership in the mining tire market[37] - By the end of the reporting period, the company had obtained a total of 407 authorized patents, including 79 invention patents, ranking among the top in the Chinese tire industry[38] - The company is actively investing in R&D to enhance its innovation capabilities and increase the production capacity of high-end products[126] - The company is focusing on the development of high-quality, high-performance, and environmentally friendly tires, responding to the growing demand for electric vehicle tires[125] - The company is planning to explore potential mergers and acquisitions to strengthen its market position and diversify its portfolio[166] Production and Operational Efficiency - The company follows a lean production model and implements a centralized global procurement strategy for raw materials, ensuring quality and cost-effectiveness[59] - The company has established a "black light workshop" in its semi-steel radial tire factory, achieving goals of reduced labor, space, and energy consumption while increasing efficiency[76] - The company has achieved "dark factory" operations in its domestic semi-steel tire plant, leading in smart manufacturing capabilities within the tire industry[137] - The company is investing approximately RMB 1,906.58 million in Cambodia to build a project with an annual output of 5 million high-performance semi-steel tires and 900,000 high-performance all-steel tires[108] - The company plans to maximize production capacity and efficiency at its Thailand factory by optimizing the supply chain and increasing the proportion of high-margin products[131] Market Trends and Industry Insights - In 2022, the production of rubber tires in China decreased by 5% year-on-year, with a total output of 856 million units[48] - The export of new inflatable rubber tires fell by 6.6% in 2022, totaling 552.55 million units, with a notable decline starting in August due to rising shipping costs and the impact of the US dollar interest rate hikes[49] - The automotive industry in China saw a total production and sales volume of 27.02 million and 26.86 million vehicles respectively in 2022, with a year-on-year growth of 3.4% and 2.1%[51] - New energy vehicles maintained strong growth, with production and sales reaching 7.058 million and 6.887 million units respectively, marking year-on-year increases of 96.9% and 93.4%[51] - The company has identified the need for intelligent and green development as a long-term trend in the tire industry[124] Corporate Governance and Management - The company held 1 annual general meeting and 6 extraordinary general meetings in 2022, all witnessed by lawyers to ensure legality[146] - The board of directors consists of 7 members, including 3 independent directors, and held 14 meetings during the reporting period[148] - The supervisory board has 3 members, including 1 employee representative, and conducted 14 meetings to oversee compliance and management[149] - The company has established specialized committees within the board, with independent directors holding majority positions in audit, compensation, and nomination committees[148] - The company has a clear governance structure that complies with the Company Law and Securities Law, ensuring effective decision-making and accountability[150] Employee and Training Initiatives - The company has implemented a comprehensive training program, including an online learning platform and a points system for tracking employee training[191] - The company has established a complete training archive for employees, ensuring ongoing skill development and assessment[191] - The company has a policy to provide fair treatment and equal opportunities in its compensation system, aligning pay with job value and employee performance[189] Future Outlook - Future guidance indicates a positive outlook, with expectations for continued revenue growth and improved profitability metrics[164] - The management is committed to maintaining transparency and effective communication with stakeholders regarding financial performance and strategic initiatives[166]

Financial Performance - The company's operating revenue for Q3 2022 was ¥1,150,602,295.73, representing a year-on-year increase of 9.20%[7]. - The net profit attributable to shareholders for Q3 2022 was ¥4,644,857.40, showing a significant increase of 560.95% compared to the same period last year[7]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥1,193,781.59, reflecting a year-on-year increase of 115.17%[7]. - The basic earnings per share for Q3 2022 was ¥0.0039, an increase of 536.74% compared to the same period last year[10]. - The diluted earnings per share for Q3 2022 was also ¥0.0039, with the same percentage increase of 536.74%[10]. - The weighted average return on equity for Q3 2022 was 0.11%, an increase of 652.08 percentage points compared to the same period last year[10]. - Total operating revenue for the first three quarters of 2022 reached ¥3,273,976,991.98, an increase from ¥3,213,963,506.95 in the same period of 2021, reflecting a growth of approximately 1.87%[32]. - Operating profit for the third quarter of 2022 was ¥17,169,725.37, down from ¥29,729,805.51 in the same quarter of 2021, representing a decline of approximately 42.4%[35]. - The total profit for the current period is 18,806,457.04, compared to 30,304,798.28 in the previous period, indicating a decrease[39]. - The net profit attributable to shareholders of the parent company is 22,834,233.50, down from 31,720,028.37 in the previous period[39]. - The total comprehensive income for the current period is 4,409,531.39, compared to -115,153,735.65 in the previous period, showing a significant recovery[41]. Assets and Liabilities - The total assets at the end of Q3 2022 amounted to ¥9,016,692,006.22, representing a 1.21% increase from the end of the previous year[10]. - The company's total assets increased to ¥9,016,692,006.22 in the third quarter of 2022, up from ¥8,909,286,037.13 in the previous year, marking a growth of about 1.22%[32]. - Current liabilities totaled ¥3,951,662,432.85, an increase from ¥3,388,548,147.22 in the previous year, reflecting a rise of approximately 16.56%[32]. - Long-term borrowings decreased to ¥785,952,000.00 from ¥1,166,310,875.84, indicating a reduction of about 32.7%[32]. - The company's equity attributable to shareholders was ¥4,201,990,412.95, slightly down from ¥4,281,377,911.55, a decrease of approximately 1.85%[32]. Cash Flow - The net cash flow from operating activities for the year-to-date was -¥34,925,222.50, indicating a decrease compared to the previous year[10]. - Cash inflow from operating activities is 3,190,770,617.22, an increase from 2,940,780,580.96 in the previous period[41]. - The net cash flow from operating activities is -34,925,222.50, a decline from 1,116,357.53 in the previous period[45]. - The net cash flow from investing activities is -283,512,213.81, improving from -602,142,619.92 in the previous period[45]. - The net cash flow from financing activities is 405,462,154.09, down from 1,175,062,160.50 in the previous period[45]. - The cash and cash equivalents at the end of the period amount to 353,946,520.25, compared to 775,228,645.89 in the previous period[45]. - The company's cash and cash equivalents decreased to approximately ¥879.25 million from ¥1.02 billion, representing a decline of about 14% year-over-year[27]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 39,899[17]. - The company completed a capital increase of 214,959,333 shares, resulting in a total share capital of 1,289,756,000 shares as of July 14, 2022[23]. - The company repurchased and canceled 1,161,600 restricted stocks, reducing the total share capital to 1,288,594,400 shares[23]. - The top ten shareholders include Hongdou Group Co., Ltd. with 648,699,600 shares, accounting for a significant portion of the total shares[22]. Operational Metrics - Research and development expenses for the third quarter of 2022 were ¥67,908,862.41, compared to ¥82,387,895.64 in the same quarter of 2021, showing a decrease of about 17.6%[35]. - The net credit impairment loss for the third quarter of 2022 was ¥-14,615,286.97, compared to ¥-13,136,801.69 in the previous year, indicating a slight increase in losses[35]. - The company reported non-recurring gains of ¥2,634,256.84 in Q3 2022, contributing to the overall profit[10]. - The company's subsidiary in Cambodia was renamed to General Tire Technology (Cambodia) Co., Ltd. in August 2022[24]. - The company received approval from the China Securities Regulatory Commission for a non-public stock issuance in October 2022[24]. Accounts and Inventory - As of September 30, 2022, the company's total current assets amounted to approximately ¥3.75 billion, a decrease from ¥3.83 billion as of December 31, 2021, reflecting a decline of about 2%[27]. - Accounts receivable increased to approximately ¥962.85 million, up from ¥809.99 million, indicating a growth of approximately 19%[27]. - Inventory levels rose slightly to approximately ¥1.71 billion from ¥1.70 billion, showing an increase of about 0.5%[27]. - Total operating costs for the third quarter of 2022 were ¥3,260,962,336.71, compared to ¥3,217,239,786.44 in the previous year, indicating an increase of about 1.36%[35].

Financial Performance - The company's operating revenue for Q1 2022 was ¥1,135,059,141.53, representing a year-on-year increase of 4.83%[6] - Net profit attributable to shareholders was ¥7,417,906.42, a decrease of 57.49% compared to the same period last year[6] - The net profit after deducting non-recurring gains and losses was ¥355,074.77, down 91.99% year-on-year[6] - Basic earnings per share were ¥0.01, a decrease of 50.00% compared to the previous year[9] - Diluted earnings per share were also ¥0.01, down 50.00% year-on-year[9] - The weighted average return on equity was 0.17%, a decrease of 0.31 percentage points from the previous year[9] - Total operating revenue for Q1 2022 was CNY 1,135,059,141.53, an increase from CNY 1,082,777,645.45 in Q1 2021, representing a growth of approximately 4.83%[31] - Net profit for Q1 2022 was CNY 6,398,174.87, down from CNY 17,448,524.45 in Q1 2021, indicating a decline of approximately 63.39%[34] - Total comprehensive income attributable to the parent company was CNY 2,659,430.12, a decrease from the previous period[36] - Basic and diluted earnings per share were both CNY 0.01, down from CNY 0.02 in the previous period[36] Cash Flow and Liquidity - Net cash flow from operating activities was ¥3,969,255.63, reflecting a significant decline of 94.16%[6] - Cash inflow from operating activities totaled CNY 1,059,576,263.04, an increase of 17.2% compared to CNY 903,926,745.06 in the previous period[39] - Cash outflow from operating activities was CNY 1,055,607,007.41, up from CNY 836,008,785.77 in the previous period[39] - Cash and cash equivalents amounted to RMB 1,008,585,473.57, slightly down from RMB 1,022,640,961.85[22] - Cash and cash equivalents at the end of the period totaled CNY 304,728,272.70, compared to CNY 136,138,371.26 at the end of the previous period[39] Assets and Liabilities - Total assets at the end of the reporting period were ¥9,054,190,964.29, an increase of 1.63% from the end of the previous year[9] - The company's total liabilities as of the reporting date were CNY 4,769,150,621.01, an increase from CNY 4,627,954,292.41 in the previous period[31] - The equity attributable to shareholders was ¥4,284,636,241.66, a slight increase of 0.08% compared to the previous year[9] - The company's total assets reached RMB 9,054,190,964.29, up from RMB 8,909,286,037.13[26] Operational Costs and Expenses - Total operating costs for Q1 2022 were CNY 1,124,193,551.54, compared to CNY 1,079,984,034.35 in Q1 2021, reflecting an increase of about 4.10%[31] - Research and development expenses for Q1 2022 amounted to CNY 14,371,793.25, a decrease from CNY 24,847,158.19 in Q1 2021, representing a reduction of approximately 42.00%[31] - The company reported a decrease in tax expenses to CNY 2,966,751.41 from CNY 5,197,559.20 in the previous year, a decline of about 42.00%[31] Investments and Equity Changes - The company completed the transfer of 20% equity in Wuxi Hongdou Sportswear Co., Ltd. to Jiangsu Hongdou Industrial Co., Ltd. for a price of RMB 4.4362 million in March 2022[18] - The company established General Intelligent (Cambodia) Co., Ltd. in January 2022 with a registered capital of USD 8 million, focusing on the production and sales of rubber products and tires[21] - The company’s long-term equity investments slightly decreased to RMB 420,782,398.62 from RMB 424,559,650.95[26] Inventory and Working Capital - The company’s inventory increased to RMB 1,702,254,944.74 from RMB 1,698,248,699.53, indicating a slight growth in stock levels[26] - Short-term borrowings rose to RMB 1,692,137,297.31 from RMB 1,495,359,974.45, reflecting increased leverage[26] - The company’s accounts payable decreased to RMB 960,620,996.71 from RMB 1,065,178,805.65, indicating improved cash flow management[26] - The company plans to permanently supplement its working capital with surplus funds of RMB 89,188,800 from a completed fundraising project[21]

Financial Performance - The company's operating revenue for 2021 was CNY 4,255,523,700.47, representing a 23.43% increase compared to CNY 3,447,718,251.29 in 2020[19] - The net profit attributable to shareholders of the listed company was CNY 11,610,406.55, a decrease of 87.24% from CNY 91,013,083.77 in the previous year[19] - The net cash flow from operating activities was negative CNY 62,132,288.58, a decline of 139.57% compared to CNY 157,034,837.26 in 2020[19] - The company reported a decrease of 174.33% in net profit attributable to shareholders after deducting non-recurring gains and losses, resulting in a loss of CNY 49,379,528.42[19] - The basic earnings per share for 2021 was 0.01 RMB, a decrease of 90.00% compared to 2020[22] - The company reported a net profit attributable to shareholders of -20.11 million RMB in Q4 2021, indicating a decline from previous quarters[23] - The weighted average return on net assets for 2021 was 0.29%, a decrease of 2.19 percentage points from 2020[22] - The gross profit margin for tires decreased by 2.75 percentage points to 9.59%[80] - Operating costs amounted to 3.832 billion RMB, reflecting a year-on-year increase of 27.68%[77] - The company achieved an operating revenue of 4.26 billion RMB in 2021, representing a year-on-year growth of 23.43%[73] Dividends and Capital Reserves - The company plans to distribute a cash dividend of CNY 0.8 per 10 shares, totaling CNY 85,983,733.36 based on the total share capital of 1,074,796,667 shares as of December 31, 2021[5] - The company intends to increase its capital reserve by converting 2 shares for every 10 shares held[5] Assets and Liabilities - The net assets attributable to shareholders at the end of 2021 were approximately 4.28 billion RMB, reflecting a 16.58% increase from the end of 2020[22] - The total assets at the end of 2021 reached approximately 8.91 billion RMB, marking a 16.78% increase from the end of 2020[22] - Cash and cash equivalents increased to ¥1,022,640,961.85, representing 11.48% of total assets, up 107.22% from the previous period[92] - Accounts receivable rose to ¥809,988,005.52, accounting for 9.09% of total assets, reflecting a 45.88% increase due to growth in foreign trade business[92] - Fixed assets reached ¥3,798,240,985.14, making up 42.63% of total assets, with a 42.51% increase attributed to project completion transfers[92] - Long-term borrowings increased to ¥1,166,310,875.84, representing 13.11% of total assets, up 39.90% due to increased bank project loans[92] Market and Sales Performance - The company achieved a total sales volume of 9.07 million tires in 2021, representing a year-on-year growth of 13.95%[32] - The company’s overseas market sales doubled year-on-year, driven by the development of large importers and traders in North America and Europe[39] - The company achieved a 10.8% year-on-year increase in domestic rubber tire production, totaling 89.91 million units in 2021[44] - The company reported a 16.2% year-on-year increase in tire exports, totaling 7.3 million tons in 2021[46] - Domestic revenue was 2.409 billion RMB, down 3.99% year-on-year, while international revenue surged by 102.09% to 1.798 billion RMB[80] Strategic Initiatives - The company launched its "5X Strategy" in 2021 to enhance its international layout and capitalize on domestic and international dual circulation development opportunities[33] - The company is advancing its digital transformation and smart manufacturing, with a focus on achieving a fully automated production process[43] - The company is committed to building a "5G Carbon Cloud Smart Factory" to integrate advanced technologies like 5G and digitalization into tire manufacturing, promoting energy savings and resource efficiency[143] - The company plans to establish five production bases and five R&D centers within the next ten years, aiming for a production capacity of over 50 million tires[60] - The company is increasing its investment in R&D for low rolling resistance and low noise green tires, aiming to enhance its competitive edge in the market[137] Innovation and Product Development - The company has accumulated 394 authorized patents, ranking among the top in China's tire industry for invention patents[38] - The company launched new generation safety tires, improving wear and heat generation performance by over 20% compared to similar products[37] - The company has developed a new type of tire that improves wear resistance by over 30% and achieves dual A-level performance in noise and wet grip[64] - The company launched the "Qianlima GA5" comfort and quiet tire series and the "Chitu" off-road tire series, enhancing user experience and gaining positive market feedback[65] - The company launched its first green tire, the Qianlima EV1, targeting the new energy vehicle sector[53] Corporate Governance - The company held 1 annual and 7 temporary shareholder meetings in 2021, ensuring equal treatment of all shareholders and compliance with legal requirements[155] - The board of directors consists of 7 members, including 3 independent directors, and has established specialized committees to enhance governance and decision-making processes[156] - The company emphasizes communication with investors and has designated personnel to manage investor relations, ensuring the protection of minority shareholders' rights[160] - The company established a comprehensive corporate governance structure and internal control system in accordance with relevant laws and regulations, ensuring the protection of shareholders' rights[161] Management Changes - In September 2021, Ms. Yu Xiufeng resigned as Vice General Manager due to reaching retirement age, and Mr. Zhang Gaorong resigned as Chief Financial Officer due to work adjustments[185] - Mr. Zhang Gaorong was appointed as Vice General Manager, and Ms. Jiang Jiehua was appointed as Chief Financial Officer in September 2021[185] - The company has seen changes in its senior management team, with several appointments and resignations throughout 2021 and early 2022[192] - The company continues to focus on maintaining a stable management structure amid personnel changes[192] Risks and Challenges - The company faces risks from increased international trade barriers, with a 17.08% anti-dumping tax rate applicable to tires produced in Thailand, but this is not expected to significantly impact operations[145] - Fluctuations in raw material prices, particularly natural rubber, could adversely affect profitability; the company aims to mitigate this through long-term contracts and strategic supplier relationships[149] - Currency exchange rate fluctuations, especially with USD, pose a risk to export revenues and procurement costs; the company plans to implement hedging strategies to mitigate these risks[151] - Ongoing pandemic risks could impact operations, logistics, and market demand; the company is enhancing its emergency management mechanisms to minimize these effects[152]

Financial Performance - The company's operating revenue for Q3 2021 was ¥1,053,644,488.37, a decrease of 2.61% compared to the same period last year[6]. - The net profit attributable to shareholders was a loss of ¥1,007,676.17, representing a decline of 101.87% year-on-year[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥7,867,650.11, down 114.61% from the previous year[6]. - The basic and diluted earnings per share were both -¥0.0009, a decrease of 101.51% compared to the same period last year[8]. - The weighted average return on equity was -0.02%, a decrease of 101.57 percentage points year-on-year[8]. - Total operating revenue for the first three quarters of 2021 reached CNY 3,213,963,506.95, an increase from CNY 2,460,691,921.02 in the same period of 2020, representing a growth of approximately 30.5%[31]. - Total operating costs for the first three quarters of 2021 were CNY 3,217,239,786.44, compared to CNY 2,414,138,891.38 in 2020, indicating an increase of about 33.2%[34]. - Operating profit for the first three quarters of 2021 was CNY 29,729,805.51, a decrease from CNY 87,132,226.60 in the previous year[34]. - The total profit for the current period is 31,672,693.64, compared to 85,803,700.15 in the previous period, indicating a significant decrease[38]. - The net profit attributable to shareholders of the parent company is 31,720,028.37, down from 85,803,700.15 in the previous period[38]. - The total comprehensive income for the current period is -115,153,735.65, compared to 29,913,290.77 in the previous period, reflecting a substantial decline[40]. - Basic and diluted earnings per share are both 0.03, down from 0.10 in the previous period[40]. Assets and Liabilities - Total assets at the end of the reporting period were ¥8,542,926,380.21, an increase of 11.98% from the end of the previous year[8]. - The equity attributable to shareholders was ¥4,307,645,483.30, up 17.30% compared to the end of the previous year[8]. - Non-current assets totaled CNY 4,985,311,074.20, slightly up from CNY 4,946,571,923.34 year-over-year[31]. - Total assets increased to CNY 8,542,926,380.21 from CNY 7,628,969,634.33, reflecting a growth of approximately 11.9%[31]. - Current liabilities amounted to CNY 3,003,821,441.89, a slight decrease from CNY 3,051,233,333.13 in the previous year[31]. - Long-term borrowings rose to CNY 1,156,299,646.53 from CNY 833,691,594.12, marking an increase of about 38.8%[31]. - The company's total liabilities reached CNY 4,234,348,231.64, compared to CNY 3,956,634,048.09 in the previous year, indicating an increase of approximately 7.0%[31]. - The company's equity attributable to shareholders was CNY 4,307,645,483.30, up from CNY 3,672,335,586.24, representing a growth of about 17.3%[31]. Cash Flow - The cash flow from operating activities showed a significant decline of 99.25% year-on-year, totaling ¥1,116,357.53[6]. - Cash inflow from operating activities is 2,940,780,580.96, an increase from 2,304,643,267.00 in the previous period[40]. - Cash outflow from operating activities totals 2,939,664,223.43, compared to 2,156,470,256.34 in the previous period[43]. - The net cash flow from operating activities is 1,116,357.53, a decrease from 148,173,010.66 in the previous period[43]. - The net cash flow from investing activities is -602,142,619.92, worsening from -215,997,691.84 in the previous period[43]. - The net cash flow from financing activities is 1,175,062,160.50, compared to 243,464,127.85 in the previous period, indicating a positive trend[43]. - The ending cash and cash equivalents balance is 775,228,645.89, up from 333,875,879.24 in the previous period[43]. Operational Developments - The company attributed the decrease in net profit to rising production costs, freight charges, and taxes, as well as impacts from the global pandemic and supply chain issues[14]. - The company established a wholly-owned subsidiary, General Rubber (USA) Co., Ltd., in July 2021, with a registered capital of USD 1 million, focusing on the sales and trade of rubber and rubber products[22]. - In August 2021, the company renamed its wholly-owned subsidiary from Wuxi Qianlima Tire Sales Co., Ltd. to Wuxi Tongyun Tire Sales Co., Ltd., with no other changes reported[22]. - The company aims to complete the construction of a high-performance intelligent all-steel radial tire project, with an expected completion date around December 2021[22]. - The company is targeting full production capacity for its Thailand high-performance radial tire project by the fourth quarter of 2021[22]. Shareholder Information - The company reported a pledge of 428,900,000 shares by its major shareholder, Red Bean Group Co., Ltd., which holds 50.23% of the shares[19]. - The company’s major shareholders include Wuxi Red Bean International Investment Co., Ltd., holding 1.86% of the shares, and other significant investors with varying percentages[19]. Inventory and Receivables - Accounts receivable increased to RMB 825,720,456.82 from RMB 555,244,097.52 year-over-year, reflecting a growth of about 48.7%[26]. - Inventory levels rose to RMB 1,498,652,399.74 compared to RMB 1,453,148,989.32 at the end of 2020, indicating an increase of approximately 3.1%[26]. - The total current assets reached RMB 3,557,615,306.01, up from RMB 2,682,397,710.99, marking a growth of around 32.5%[26]. Research and Development - Research and development expenses for the first three quarters of 2021 were CNY 82,387,895.64, compared to CNY 64,976,718.43 in 2020, reflecting an increase of approximately 26.5%[34].

Financial Performance - The company's operating revenue for the first half of 2021 was ¥2,160,319,018.58, representing a 56.68% increase compared to ¥1,378,770,907.72 in the same period last year[19]. - The net profit attributable to shareholders was ¥32,727,704.54, a slight increase of 2.86% from ¥31,816,468.92 in the previous year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥11,204,716.15, which is a decrease of 37.16% compared to ¥17,831,136.57 in the same period last year[19]. - The net cash flow from operating activities was ¥6,412,490.47, down 89.55% from ¥61,348,018.52 in the previous year[21]. - The total assets at the end of the reporting period were ¥8,641,335,941.79, an increase of 13.27% from ¥7,628,969,634.33 at the end of the previous year[21]. - The net assets attributable to shareholders increased by 19.02% to ¥4,370,931,215.85 from ¥3,672,335,586.24 at the end of the previous year[21]. - Basic earnings per share for the reporting period were ¥0.03, a decrease of 25.00% from ¥0.04 in the same period last year[21]. - The weighted average return on net assets was 0.80%, a decrease of 0.07 percentage points from 0.87% in the previous year[21]. Production and Sales - The company achieved a production of 67.9681 million all-steel tires in the first half of 2021, representing a year-on-year increase of 29.01%[33]. - The production of semi-steel tires reached 247.4903 million units, up 34.54% year-on-year in the same period[35]. - In the first half of 2021, the company sold 4.6992 million tires, representing a year-on-year growth of 61.27%[48]. - The company’s revenue reached 2.16 billion yuan, an increase of 56.68% compared to the previous year[48]. Research and Development - The company holds over 390 authorized patents, with a strong emphasis on independent innovation capabilities[36]. - The company has established strategic partnerships with leading suppliers and research institutions to enhance R&D and technology advantages[36]. - The company is focusing on the development of new energy-saving and environmentally friendly tire products, which are included in key technology innovation directories[36]. - R&D expenses rose by 53.46% to ¥63,626,356.66, driven by increased investment in new product development[57]. Market and Competition - The domestic tire replacement rate is continuously rising, driven by the growth of the automotive industry[32]. - The company aims to stabilize and maintain growth in tire market demand, supported by national consumption promotion policies[35]. - The company has faced challenges due to fluctuating raw material prices and external uncertainties but remains optimistic about long-term market trends[35]. - The company is responding to intensified market competition by accelerating industrial transformation and upgrading, focusing on independent brand development and technological innovation[71]. Environmental and Compliance - The company is classified as a key pollutant discharge unit in Wuxi, primarily discharging waste gas and wastewater[86]. - The company has established a carbon neutrality promotion team to implement energy-saving and emission-reduction measures, including the use of energy-efficient lighting systems and technical upgrades for key energy-consuming equipment[98]. - The company has added three sets of "photocatalysis + activated carbon" treatment facilities for exhaust gas from extrusion and vulcanization processes, ensuring compliance with emission standards[97]. - The company’s wastewater treatment facilities have achieved compliance with industrial pollutant discharge standards, with total nitrogen levels recorded at 5.34-15.3 mg/m³, below the standard of 40 mg/m³[92]. Strategic Initiatives - The company aims to establish 5 major production bases and 5 major R&D centers within the next 10 years as part of its "5X strategic plan"[47]. - The company launched a new production base in Cambodia with a capacity of 6 million semi-steel radial tires, marking a significant milestone in its global expansion strategy[55]. - The company has established over 100 brand image stores and more than 10,000 signature stores nationwide[42]. Shareholder and Equity Information - The company issued 202,506,577 new shares, increasing the total shares to 1,074,796,667[133]. - The top ten shareholders held a combined 50.23% of the shares, with Hongdou Group Co., Ltd. holding 539,848,300 shares, representing 50.23% of the total[143]. - The company has implemented an equity incentive plan, granting stock options to several executives, enhancing retention and motivation[157]. - The controlling shareholder, Hongdou Group Co., Ltd., has increased its stake, with the director Gu Cui's shares rising from 3,121,100 to 5,239,800[154]. Financial Position and Liabilities - Total liabilities reached RMB 4,270,404,725.94, compared to RMB 3,956,634,048.09, which is an increase of approximately 7.9%[170]. - The company's equity attributable to shareholders increased to RMB 4,370,931,215.85 from RMB 3,672,335,586.24, representing a growth of approximately 19.0%[170]. - Long-term borrowings rose significantly to ¥407,603,937.50 from ¥75,106,562.50, reflecting an increase of approximately 442.5%[178]. Cash Flow and Investments - Operating cash inflow for the first half of 2021 was CNY 1,871,294,625.48, an increase from CNY 1,302,745,067.67 in the first half of 2020, representing a growth of approximately 43.7%[192]. - The net cash flow from financing activities for the first half of 2021 was CNY 1,267,138,433.73, compared to CNY 224,409,983.49 in the same period of 2020, marking an increase of approximately 465.5%[194]. - Cash inflow from investment activities was CNY 38,650,248.00, compared to CNY 123,090,081.26 in the first half of 2020, indicating a decline of approximately 68.7%[194].

Financial Performance - Operating revenue for the period was CNY 1,082,777,645.45, representing a significant increase of 91.89% year-on-year[18]. - Net profit attributable to shareholders was CNY 17,448,524.45, up 57.59% from the same period last year[18]. - Basic earnings per share doubled to CNY 0.02, reflecting a 100% increase year-on-year[18]. - The company's operating revenue for the first quarter of 2021 was CNY 1,082,777,645.45, representing a 91.89% increase compared to CNY 564,275,493.90 in the previous year[30]. - The net profit for the first quarter of 2021 was CNY 17,448,524.45, a 57.59% increase from CNY 11,072,435.46 in the same period last year[32]. - The company's total operating revenue for Q1 2021 reached ¥1,082,777,645.45, a significant increase from ¥564,275,493.90 in Q1 2020, representing a growth of approximately 92%[52]. - Net profit for Q1 2021 was ¥17,448,524.45, up from ¥11,072,435.46 in Q1 2020, reflecting a growth of approximately 57%[55]. Cash Flow - Net cash flow from operating activities surged to CNY 67,917,959.29, a remarkable increase of 763.02% compared to the previous year[18]. - The net cash flow from operating activities for Q1 2021 was approximately ¥67.92 million, compared to ¥7.87 million in Q1 2020[63]. - Cash inflow from operating activities totaled 745,494,968.84 RMB in Q1 2021, up from 598,978,591.28 RMB in Q1 2020, marking an increase of approximately 24.5%[65]. - The company reported a total cash outflow from operating activities of 658,274,436.99 RMB in Q1 2021, compared to 612,421,969.88 RMB in Q1 2020, indicating an increase of about 7.5%[65]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 7,724,958,093.80, an increase of 1.26% compared to the end of the previous year[18]. - Total liabilities increased to ¥4,074,867,403.22 from ¥3,956,634,048.09, marking an increase of approximately 2.97%[43]. - Current assets totaled ¥2,708,416,863.70, up from ¥2,682,397,710.99, indicating an increase of about 0.97%[41]. - Non-current assets rose to ¥5,016,541,230.10 from ¥4,946,571,923.34, reflecting a growth of around 1.41%[41]. - The company's equity attributable to shareholders decreased to ¥3,650,090,690.58 from ¥3,672,335,586.24, reflecting a decrease of approximately 0.61%[43]. Shareholder Information - The total number of shareholders at the end of the reporting period was 38,247[25]. - The largest shareholder, Hongdou Group Co., Ltd., held 539,848,300 shares, accounting for 61.89% of the total shares[25]. Expenses and Costs - The company reported a 100.75% increase in operating costs, totaling CNY 974,556,325.51, due to higher sales volume and reclassification of freight costs[30]. - Financial expenses increased by 128.66% to CNY 21,752,018.66, primarily due to increased bank borrowings[30]. - Research and development expenses for Q1 2021 were ¥24,847,158.19, compared to ¥21,352,613.57 in Q1 2020, representing an increase of approximately 16%[52]. Government Subsidies and Other Income - The company received government subsidies amounting to CNY 16,553,575.00, which are closely related to its normal business operations[20]. - The company reported other income of approximately ¥16.55 million in Q1 2021, compared to ¥6.55 million in Q1 2020[57]. Miscellaneous - The company has not reported any significant changes in its commitments or major events during the reporting period[36]. - The total comprehensive income for Q1 2021 was negatively impacted by other comprehensive losses amounting to ¥39,693,420.11, compared to losses of ¥53,480,242.26 in Q1 2020[55].

Financial Performance - The company's operating revenue for 2020 was CNY 3,447,718,251.29, representing a 3.36% increase compared to CNY 3,335,484,683.84 in 2019[23] - The net profit attributable to shareholders for 2020 was CNY 91,013,083.77, a decrease of 12.60% from CNY 104,132,874.73 in 2019[23] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 66,434,422.37, down 25.95% from CNY 89,713,151.88 in 2019[23] - The net cash flow from operating activities for 2020 was ¥157,034,837.26, a decrease of 208.21% compared to the previous year[26] - The net assets attributable to shareholders of the listed company increased to ¥3,672,335,586.24, reflecting a growth of 0.38% year-over-year[26] - Total assets reached ¥7,628,969,634.33, marking a 10.08% increase from the previous year[26] - Basic earnings per share for 2020 were ¥0.10, down 16.67% from ¥0.12 in 2019[26] - The weighted average return on net assets decreased to 2.48%, down 0.59 percentage points from 3.07% in 2019[26] - The gross profit margin for tire products decreased by 3.49 percentage points to 12.34%[75] - Operating costs rose to CNY 2,994,517,183.88, reflecting a year-on-year increase of 7.57%[71] - Sales expenses decreased by 52.71% to CNY 78,174,673.17, primarily due to the reclassification of freight costs to operating costs[71] - Financial expenses surged by 146.52% to CNY 69,280,021.54, mainly due to increased interest expenses from higher bank borrowings[72] Dividend Distribution - The company plans to distribute a cash dividend of CNY 1.40 per 10 shares (including tax) to all shareholders[6] - The company reported a cash dividend of 1.4 RMB per 10 shares for 2020, totaling 122,120,612.6 RMB, which represents 134.18% of the net profit attributable to ordinary shareholders[150] - In 2019, the company distributed a cash dividend of 0.5 RMB per 10 shares, amounting to 43,614,504.50 RMB, which was 41.88% of the net profit attributable to ordinary shareholders[150] Market and Industry Insights - In 2020, the global tire market sales reached 1.577 billion units, a year-on-year decline of 11.7%[40] - In China, the total production of rubber tires reached 834 million units in 2020, with a slight decrease of 2.8% year-on-year[41] - The global tire industry saw a total sales revenue of 157.523 billion USD in 2020, a decrease of 2.96 billion USD from 2019[128] - Asia has become the world's tire manufacturing center, with China accounting for 35% of global tire production capacity and approximately 40% of total output being exported[128] Research and Development - The company achieved a total of 382 authorized patents, ranking among the industry leaders in innovation capabilities[45] - Research and development expenses totaled CNY 108,401,406.13, accounting for 3.14% of operating revenue[85] - The company aims to enhance its R&D capabilities by upgrading its R&D center to a research institute and increasing investment in technology development[136] Production and Capacity - The company produced 839.31 million tires, with sales volume reaching 796 million tires, marking a production increase of 27.48%[76] - The company aims to establish five production bases and five R&D centers within the next ten years, targeting a production capacity of over 50 million units[56] - In 2021, the company plans to reach full production capacity of 1 million all-steel tires and 6 million semi-steel tires at its Thailand factory by Q3[135] - The Thailand production base achieved a capacity of 500,000 all-steel tires and 3 million semi-steel tires, reaching profitability in the same year of operation[66] Strategic Initiatives - The company is focused on digital marketing strategies, enhancing interaction with distributors and retail partners through online platforms[63] - The company aims to strengthen its governance and capital operations, seeking strategic mergers and acquisitions to enhance growth potential[141] - The company plans to enhance its green product offerings, focusing on low fuel consumption, low noise, and low rolling resistance tires to meet the high-end market demand for electric vehicles[140] Risk Management and Compliance - The company has detailed risk factors in the report, particularly in the section discussing future development[8] - The company has established an emergency management mechanism to mitigate risks associated with the ongoing COVID-19 pandemic and its impact on overseas markets[145] - The company has committed to providing financial services legally and compliantly, ensuring that deposits and loans comply with relevant laws and regulations[156] Corporate Governance - The audit report issued by the accounting firm was a standard unqualified opinion[5] - The company has confirmed that all board members attended the board meeting[5] - The company has a commitment to ensuring the accuracy and completeness of the financial report[4] - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[8] - The company has not violated decision-making procedures for providing guarantees[8] Social Responsibility - The company actively engaged in social responsibility during the pandemic, providing free tire replacement and maintenance services for emergency vehicles[68] Marketing and Sales Strategy - The company’s sales strategy includes direct sales to OEMs and a distribution model for replacement tires, expanding market share[39] - Over 60% of the marketing team has more than three years of experience in the tire industry, with 80% of sales revenue from distributors having a partnership of three years or more[52] - The company opened over 1,000 new stores and enhanced brand recognition through various marketing activities, including participation in well-known domestic events[60] Financial Management - The company has maintained a good financial and credit status, with no overdue loans or major litigation issues as of the date of the commitment letter[172] - The company has committed to linking its compensation system to the execution of return measures, ensuring accountability[165] - The company has not engaged in any behavior that would occupy or misappropriate the funds of Jiangsu General Technology Co., Ltd.[162]

Financial Performance - Net profit attributable to shareholders decreased by 8.63% to CNY 85,803,700.15 year-on-year[18] - Operating income for the first nine months decreased by 5.71% to CNY 2,460,691,921.02 compared to the same period last year[18] - Basic earnings per share decreased by 9.09% to CNY 0.10[21] - The company reported a net profit of ¥1,111,814,984.55, up from ¥1,069,625,788.90, reflecting an increase of about 3.9% in retained earnings[48] - Net profit attributable to shareholders for Q3 2020 was CNY 53,987,231.23, up from CNY 36,062,801.70 in Q3 2019, indicating a growth of approximately 49.5%[62] - The company’s total profit for Q3 2020 was CNY 54,047,063.00, compared to CNY 39,617,388.35 in Q3 2019, indicating an increase of about 36.4%[60] Assets and Liabilities - Total assets increased by 5.30% to CNY 7,297,497,456.41 compared to the end of the previous year[18] - Total liabilities increased to ¥3,652,767,651.86, up from ¥3,272,088,615.10, representing a growth of approximately 11.6%[46] - Current liabilities totaled ¥2,816,748,101.07, compared to ¥2,554,986,888.16, reflecting an increase of about 10.3%[46] - Long-term borrowings rose to ¥763,092,117.62 from ¥648,436,042.21, marking an increase of approximately 17.7%[46] - The total assets reached ¥6,264,103,061.63, compared to ¥6,096,977,474.84, indicating a growth of approximately 2.7%[52] - Total liabilities increased to CNY 2,634,909,495.60 from CNY 2,471,735,922.83, marking an increase of about 6.6%[54] Cash Flow - Net cash flow from operating activities improved significantly to CNY 148,173,010.66, a turnaround from a negative CNY 119,906,951.01 in the previous year[18] - Net cash flow from investing activities decreased by 85.52% to -¥215,997,691.84 from -¥1,491,740,527.61, due to reduced fixed asset investments[34] - Net cash flow from financing activities dropped by 88.36% to ¥243,464,127.85 from ¥2,090,968,081.23, primarily due to last year's fundraising through private placement[34] - Cash flow from operating activities for the first nine months of 2020 was approximately ¥2.30 billion, down from ¥2.70 billion in the same period of 2019[73] - The net cash flow from operating activities for Q3 2020 was ¥203,804,722.50, a significant improvement compared to a net outflow of ¥69,061,096.68 in Q3 2019[80] Shareholder Information - The total number of shareholders at the end of the reporting period was 37,188[22] - The largest shareholder, Hongdou Group Co., Ltd., holds 61.51% of the shares, with 378,900,000 shares pledged[22] - As of the report date, the controlling shareholder increased its stake by 8,020,007 shares, representing 0.92% of the total shares[37] Investments and Expenses - Research and development expenses decreased by 29.82% to ¥64,976,718.43 from ¥92,591,087.90, reflecting a focus on product strategy[30] - Financial expenses surged by 411.15% to ¥55,125,602.08 from ¥10,784,628.77, driven by increased bank borrowings[30] - Investment income increased by 803.20% to ¥30,792,632.42 from ¥3,409,273.67, mainly due to higher earnings from equity method investments[30] - Research and development expenses for Q3 2020 were CNY 23,514,386.54, compared to CNY 24,382,921.80 in Q3 2019, indicating a decrease of about 3.6%[58] - The company reported a financial expense of CNY 33,471,128.65 in Q3 2020, significantly higher than CNY 5,122,477.99 in Q3 2019, reflecting an increase of approximately 553.5%[58] Future Plans and Standards - The company plans to issue non-public A-shares, as approved in board meetings held on September 27 and October 14, 2020[35] - The company will implement the new leasing standard starting January 1, 2021, following the adoption of the new revenue standard on January 1, 2020[97]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥1,378,770,907.72, a decrease of 17.22% compared to ¥1,665,655,427.02 in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2020 was ¥31,816,468.92, down 45.00% from ¥57,842,539.86 in the previous year[20]. - The basic earnings per share for the first half of 2020 was ¥0.04, a decrease of 42.86% from ¥0.07 in the same period last year[22]. - The weighted average return on net assets was 0.87%, down from 1.85% in the previous year, reflecting a decrease of 0.98 percentage points[22]. - The company reported a forecasted amount of 296.7 million CNY for daily related transactions in 2020, with actual transactions amounting to 103.41 million CNY by the end of the reporting period, remaining within the expected limit[104]. - The company reported a comprehensive income total of 77,486,130.82 for the current period, reflecting a significant increase compared to the previous period[195]. Cash Flow and Investments - The net cash flow from operating activities was ¥61,348,018.52, a significant improvement from a negative cash flow of ¥129,931,665.30 in the same period last year[20]. - Investment activities generated a net cash outflow of ¥126,146,688.61, an improvement of 83.73% compared to a net outflow of ¥775,494,478.28 last year[50]. - The company reported a decrease in cash flow from operating activities to 1,267,015,554.70 RMB, down from 1,621,934,440.50 RMB in the same period last year, indicating a decrease of approximately 22%[175]. - The net cash outflow from investment activities was -182,725,868.27 RMB, an improvement from -579,492,787.77 RMB year-over-year[175]. Assets and Liabilities - The total assets increased by 3.77% to ¥7,191,541,774.96 compared to ¥6,930,519,633.38 at the end of the previous year[20]. - The company’s total assets included intangible assets of ¥476,741,954.12, which accounted for 6.63% of total assets, reflecting a 110.35% increase from the previous year[58]. - Current liabilities totaled ¥2,836,828,293.64, up from ¥2,554,986,888.16, which is an increase of approximately 11.0%[147]. - Total liabilities rose to ¥3,546,659,196.38 from ¥3,272,088,615.10, representing an increase of about 8.4%[149]. Research and Development - Research and development expenses were ¥41,462,331.89, down 39.21% from ¥68,208,166.10, as the company implemented a product focus strategy[54]. - The company has achieved a 30% increase in mileage for its self-developed 5X XR290 Du Zhong rubber tire, enhancing its durability and performance[36]. - The company holds 375 authorized patents, demonstrating strong independent innovation capabilities in tire manufacturing technology[34]. Market and Production - The company has established two production bases in Wuxi, China, and Rayong, Thailand, focusing on high-performance tire products under various well-known brands[25]. - The company is focusing on expanding its market share in the mid-to-long-distance transportation tire segment, leveraging technological advancements[36]. - The company has been recognized as a leading enterprise in the domestic all-steel radial tire replacement market, capitalizing on the rapid development of national highways[29]. Corporate Governance and Shareholder Relations - The company did not propose any profit distribution plan or capital reserve transfer to increase share capital during the reporting period[6]. - The controlling shareholder, Hongdou Group, has pledged to stabilize the stock price by purchasing shares in the secondary market, with a maximum annual investment of RMB 50 million[89]. - The company guarantees that all related party transactions will be conducted fairly and in accordance with normal commercial practices, ensuring prices do not deviate from market standards[89]. Environmental and Compliance - The company has completed environmental impact assessments for its 1.2 million full steel radial tire project and 6 million semi-steel radial tire project[118]. - All pollution control facilities, including VOCs treatment and bag dust collectors, are operating normally[116]. - The company has established an emergency response plan for environmental incidents, which has been filed with the local environmental protection bureau[119].