证券简称：星宇股份 证券代码：601799 编号：临 2023-014 常州星宇车灯股份有限公司 关于召开 2022 年年度业绩说明会的预告公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 会议召开时间：2023年4月7日（星期五）上午10:00-11:00 会议召开地点：上海证券报·中国证券网（https://roadshow.cnstock.com/） 会议召开方式：网络文字互动 投资者可以在2023年4月6日上午8:00至下午16:00通过公告后附的电话、邮件 等联系公司，提出所关注的问题，公司将在说明会上选择投资者普遍关注的问题 进行回答。 本次业绩说明会以网络方式召开，公司将针对2022年年度的经营成果及财务 指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的范围内就投资 者普遍关注的问题进行回答。 二、说明会召开的时间、地点 召开时间：2023年4月7日（星期五）上午10:00-11:00 公司已于2023年3月30日披露了《星宇股份2022年年度报告》，为便于广大 投资者更全面深 ...

Financial Performance - The company achieved a net profit of ¥992,076,084.04 for the year 2022, with a total distributable profit of ¥4,004,671,074.97 after deducting cash dividends of ¥314,247,360.90[3]. - The proposed cash dividend distribution for 2022 is ¥11 per 10 shares, totaling ¥314,247,360.90, with the remaining profit to be carried forward for future distribution[3]. - The company’s total unallocated profit at the end of the year stands at ¥3,690,423,714.07, which will be carried forward for future distribution[3]. - The company’s financial report has been audited by Tianheng Accounting Firm, which issued a standard unqualified audit opinion[2]. - The board of directors and senior management have confirmed the authenticity, accuracy, and completeness of the annual report[2]. - The company’s operating revenue for 2022 was CNY 8,247,994,585.86, representing a year-on-year increase of 4.28%[15]. - The net profit attributable to shareholders for 2022 was CNY 941,424,257.11, a decrease of 0.85% compared to the previous year[15]. - The net cash flow from operating activities increased significantly by 171.06% to CNY 1,408,357,235.08 in 2022[15]. - The company reported a basic earnings per share of CNY 3.2954 for 2022, down 3.32% from 2021[16]. - The weighted average return on equity decreased to 11.59% in 2022, down 3.05 percentage points from the previous year[16]. - The company achieved operating revenue of 8.248 billion RMB, an increase of 4.28% compared to the previous period[28]. - Main business revenue reached 7.546 billion RMB, growing by 6.45% year-on-year[28]. - The total assets at the end of 2022 were CNY 13,236,671,552.01, reflecting a growth of 10.92% from the previous year[15]. - Net assets attributable to shareholders rose to 8.522 billion RMB, reflecting an 8.43% increase[28]. - The total comprehensive income for the year was ¥976,865,374.48, which includes an increase in retained earnings of ¥627,176,896.21[153]. Research and Development - Research and development expenses increased by 34.65% to 522.09 million RMB, primarily due to higher employee compensation and R&D materials[29]. - The company launched 41 new vehicle lighting development projects and achieved mass production for 23 new models in 2022[23]. - The company is focusing on new technology development, including DLP smart headlights and Micro LED technology applications[23]. - The company is focused on continuous technological innovation and new product development to meet evolving market demands and maintain competitive advantage[61]. - The company aims to strengthen its core automotive lighting business and expand into automotive electronics, leveraging existing R&D capabilities to establish a comprehensive automotive electronics platform[59]. Operational Efficiency - The company initiated a digital transformation in 2022 to enhance core competitiveness and optimize business processes[23]. - The management team emphasized the importance of enhancing operational efficiency, aiming for a 5% reduction in operational costs[71]. - The company plans to enhance resource utilization efficiency and pursue digital transformation through a unified system and data approach, targeting a "three ones" digitalization goal[60]. Customer and Market Position - The company maintained a strong customer base, including major manufacturers like Volkswagen and BMW, enhancing its market competitiveness[26]. - The company is positioned as a leading manufacturer and solution provider in the automotive lighting industry in China[26]. - The company is focusing on market expansion, targeting an increase in market share by 10% in the next fiscal year[71]. Risk Management - The company has not identified any significant risks that could impact its operations or financial performance[4]. - The company faces risks from fluctuations in the automotive industry, which could adversely affect production and sales if the overall market declines[62]. - The company recognizes the risk of declining gross margins due to increasing competition and cost pressures from automakers[62]. - The company is committed to improving management processes and internal controls to mitigate operational risks associated with its expanding business[62]. Corporate Governance - The company held two extraordinary general meetings in 2022, one on May 13 and another on August 5, to discuss various proposals including compensation plans and project adjustments[68]. - The board of directors and supervisors were elected during the annual general meeting held on April 15, 2022[69]. - The company is focusing on enhancing its corporate governance by revising various internal rules and regulations[68]. - The company has not reported any changes in shareholdings for independent directors during the reporting period[70]. - The company has maintained a consistent shareholding structure with no new shares issued during the reporting period[70]. Environmental and Social Responsibility - The company invested 8.11 million yuan in environmental protection during the reporting period[98]. - The company made a total donation of 4.125 million yuan to various charitable organizations, including the Red Cross and local charity associations[103]. - The company has implemented carbon reduction measures, including promoting photovoltaic power generation and improving equipment energy efficiency[101]. - The company has maintained strict adherence to environmental laws and regulations without any violations[100]. Wealth Management and Investments - The company has entrusted a total of 7,832,000,000 RMB in bank wealth management, with an outstanding balance of 1,901,000,000 RMB[112]. - The company has invested 3,565,000,000 RMB from convertible bond issuance funds in bank wealth management, with an outstanding balance of 710,000,000 RMB[112]. - The company has engaged in multiple structured deposits, with amounts including 100,000,000 RMB and 200,000,000 RMB, yielding annualized returns of 3.2%[113]. - The company has successfully recovered all invested amounts from its wealth management products[113]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 10,173, an increase from 8,528 at the end of the previous month[121]. - The largest shareholder, Zhou Xiaoping, holds 102,520,320 shares, representing 35.89% of the total shares[122]. - The second-largest shareholder, Zhou Bajin, holds 34,915,307 shares, accounting for 12.22% of the total shares[122]. - The company has no changes in the total number of shares or share capital structure during the reporting period[119]. Audit and Compliance - The audit opinion confirms that the financial statements fairly reflect the company's financial position as of December 31, 2022[132]. - The company has not faced any penalties from securities regulatory agencies in the past three years[76]. - The company continues to engage Tianheng Accounting Firm for the 2022 financial report audit and internal control audit[76]. - The company has not reported any overdue amounts from its wealth management investments[112].

Financial Performance - The company's operating revenue for Q3 2022 was ¥2,245,567,181.07, representing a year-on-year increase of 31.55%[4] - The net profit attributable to shareholders for Q3 2022 was ¥296,445,411.87, reflecting a significant increase of 75.49% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥271,508,120.86, up 87.66% year-on-year[4] - The basic earnings per share for Q3 2022 was ¥1.0377, an increase of 74.67% compared to the same period last year[4] - Net profit for the first three quarters of 2022 reached ¥753,957,420.57, compared to ¥738,504,004.16 in the same period of 2021, reflecting an increase of about 2.5%[21] - Operating revenue for the first three quarters of 2022 was ¥5,964,238,674.51, up from ¥5,658,367,390.18, indicating a growth of approximately 5.4% year-over-year[19] - The total comprehensive income attributable to the parent company for Q3 2022 was CNY 755,045,704.07, compared to CNY 724,898,915.03 in Q3 2021, reflecting an increase of approximately 4.3%[22] Assets and Liabilities - The total assets at the end of the reporting period were ¥12,837,428,593.14, an increase of 7.58% from the end of the previous year[5] - Total assets increased to ¥12,837,428,593.14, up from ¥11,933,382,346.75, representing a growth of approximately 7.5% year-over-year[19] - Total liabilities increased to ¥4,537,600,516.48 from ¥4,074,352,613.26, showing a growth of approximately 11.4% year-over-year[19] - The total equity attributable to shareholders increased to ¥8,299,828,076.66 from ¥7,859,029,733.49, representing a growth of about 5.6%[19] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥1,364,471,739.28, showing a substantial increase of 190.84% compared to the same period last year[4] - Cash inflow from operating activities for the first three quarters of 2022 was CNY 6,902,923,517.41, up from CNY 6,000,209,794.14 in the same period of 2021, representing an increase of about 15%[24] - Net cash flow from operating activities for Q3 2022 was CNY 1,364,471,739.28, significantly higher than CNY 469,145,275.51 in Q3 2021[24] - The net increase in cash and cash equivalents for Q3 2022 was CNY 194,782,106.46, down from CNY 650,320,359.78 in Q3 2021[26] - The ending balance of cash and cash equivalents as of Q3 2022 was CNY 1,514,678,336.39, compared to CNY 2,774,629,050.32 at the end of Q3 2021[26] Financial Management - The company received government subsidies amounting to ¥12,594,734.86 during the reporting period, which are closely related to its normal business operations[6] - The company has engaged in multiple financial management strategies, including investments in money market instruments[12] - The company has a significant relationship with CITIC Bank, utilizing their structured deposit products extensively[12] - The company maintains a diversified portfolio of financial instruments to optimize returns while managing risks[12] - The company has not planned any future entrusted financial management projects as of the reporting date[12] Structured Deposits - The company has multiple structured deposits with a total amount of 1.5 billion yuan, with varying annualized return rates between 3.20% and 3.45%[12] - The total amount of structured deposits from CCB Changzhou New North Branch reached 1,000,000,000 CNY, with a recovery amount of 1,481,473 CNY for the first issuance[13] - CITIC Bank New North Branch reported a total of 400,000,000 CNY in structured deposits, with a recovery amount of 2,892,055 CNY for one of the issuances[13] - The structured deposits from CITIC Bank included a significant issuance of 200,000,000 CNY with a recovery amount of 1,430,137 CNY[13] - The structured deposits from CITIC Bank also included a 130,000,000 CNY issuance with a recovery amount of 1,104,822 CNY[13] - The total amount of structured deposits issued in the third quarter of 2022 was significant, with multiple issuances exceeding CNY 100 million each[14][15] Research and Development - Research and development expenses rose to ¥366,762,664.23, compared to ¥263,170,700.83 in the previous year, marking an increase of about 39.4%[21]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥3,718,671,493.44, a decrease of 5.89% compared to ¥3,951,351,888.78 in the same period last year[15]. - The net profit attributable to shareholders of the listed company was ¥457,512,008.70, down 19.68% from ¥569,580,323.66 in the previous year[15]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥407,825,981.62, a decrease of 21.75% compared to ¥521,214,202.02 in the same period last year[15]. - The company's basic earnings per share decreased by 22.32% to CNY 1.6015 compared to the same period last year[16]. - The net profit attributable to shareholders decreased by 19.68%, primarily due to a decline in sales and gross margin of the automotive lighting business[16]. - The weighted average return on equity dropped by 3.61 percentage points to 5.73%[16]. - The total revenue of Jilin Xingyu reached 236.36 million RMB, while Foshan Xingyu generated 384.44 million RMB in revenue, indicating strong performance in the manufacturing sector[33]. - The total profit for the first half of 2022 was approximately ¥537.79 million, a decrease of 18.6% from ¥661.11 million in the same period of 2021[78]. - The comprehensive income for the first half of 2022 amounts to RMB 454,556,634.78, which includes a net profit of RMB 457,512,008.70[85]. Cash Flow and Assets - The net cash flow from operating activities increased significantly to ¥898,227,119.48, up 437.83% from ¥167,010,723.23 in the previous year[15]. - The total assets at the end of the reporting period were ¥12,240,274,453.31, an increase of 2.57% from ¥11,933,382,346.75 at the end of the previous year[15]. - Total current assets amounted to CNY 8,179,708,119.56, slightly down from CNY 8,200,362,886.54 at the beginning of the period, reflecting a decrease of approximately 0.25%[70]. - Cash and cash equivalents decreased to CNY 1,374,108,821.03 from CNY 1,401,842,155.22, a decline of about 1.93%[70]. - Total non-current assets increased to CNY 4,060,566,333.75 from CNY 3,733,019,460.21, representing an increase of approximately 8.75%[71]. - The company reported a significant increase in inventory, which rose to CNY 2,035,410,594.24 from CNY 1,969,885,333.91, an increase of about 3.34%[70]. Research and Development - The company initiated a digital transformation in the first half of 2022 to enhance core competitiveness and optimize business processes[24]. - R&D expenses increased by 40.56% to 231.63 million RMB, driven by higher employee compensation and material costs[27]. - The company has a complete independent R&D system, enabling rapid response to customer needs[22]. - The company is investing in technology research and development to keep pace with industry trends and meet market demands[36]. Risks and Challenges - The company faces risks from the automotive industry's cyclical nature, which could negatively impact production and operations if economic conditions worsen[34]. - The automotive lighting business is experiencing pressure on gross margins due to rising raw material costs and increased competition in the domestic market[38]. - The company has a high customer concentration risk, as a loss of major clients could significantly impact revenue and profit levels[37]. - The ongoing COVID-19 pandemic continues to pose risks to the company's market expansion and supply chain operations[40]. Corporate Governance and Management - The company did not distribute profits or increase capital from reserves during the reporting period[2]. - The company has not violated any decision-making procedures for providing guarantees[3]. - The company elected Zhou Xiaoping, Gao Guohua, and Han Jian as members of the sixth board's strategy committee, with Zhou Xiaoping serving as the chairperson[47]. - The company appointed Li Shujun as the financial director and Zhou Yuheng, Liu Shuting, Lin Shudong, Chen Liujun, and Gao Peng as vice presidents, all with a term of three years[47]. Environmental and Social Responsibility - The company implemented energy-saving technology improvements, promoting the use of servo motors and variable frequency motors, and replaced old motors[51]. - The company achieved energy savings through variable frequency control in production workshops and cooling systems[51]. - The company promoted the use of electric forklifts to reduce fossil energy consumption[51]. - The company increased its green coverage area in the factory to enhance ecological responsibility[51]. Investment and Financial Strategy - The company has invested a total of 1,000,000,000 RMB in structured deposits with various banks, achieving an average annual return rate of 3.20% to 3.45%[59]. - The company plans to continue utilizing structured deposits as a financial strategy, indicating a stable approach to managing excess funds[60]. - The structured deposits have been primarily directed towards money market instruments, ensuring liquidity and safety of capital[59]. - The company has engaged with multiple banks, including CITIC Bank and China Construction Bank, to maximize investment opportunities[59]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period was 8,965[64]. - The largest shareholder, Zhou Xiaoping, held 102,520,320 shares, representing 35.89% of the total shares[65]. - The second-largest shareholder, Zhou Bajin, held 34,915,307 shares, accounting for 12.22%[65]. - The company did not experience any changes in its share capital structure during the reporting period[63].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 2,132,367,695.82, representing an increase of 11.60% compared to the same period last year[4]. - The net profit attributable to shareholders for Q1 2022 was CNY 269,565,296.19, showing a decrease of 5.61% year-on-year[4]. - The basic and diluted earnings per share for Q1 2022 were both CNY 0.9436, reflecting a decrease of 8.76% year-on-year[4]. - Total operating revenue for Q1 2022 was CNY 2,132,367,695.82, an increase of 11.6% compared to CNY 1,910,683,590.25 in Q1 2021[16]. - Net profit for Q1 2022 was CNY 269,565,296.19, a decrease of 5.6% from CNY 285,594,142.53 in Q1 2021[19]. - Research and development expenses for Q1 2022 amounted to CNY 109,445,335.68, representing a 45.3% increase from CNY 75,361,191.71 in Q1 2021[18]. - Other comprehensive income after tax for Q1 2022 was CNY -5,367,558.76, compared to CNY -4,931,823.97 in Q1 2021[19]. Cash Flow - The net cash flow from operating activities increased significantly by 174.44%, amounting to CNY 856,788,091.72, primarily due to reduced cash payments for goods and taxes compared to the previous year[4][6]. - Cash flow from operating activities in Q1 2022 was CNY 2,507,274,745.29, an increase from CNY 2,332,175,680.03 in Q1 2021[20]. - Operating cash flow outflow totaled CNY 1,650,486,653.57, a decrease of 18.2% compared to CNY 2,019,984,337.93 in the previous year[21]. - Cash inflow from investment activities amounted to CNY 3,290,960,086.91, down 10.7% from CNY 3,686,437,501.78 in the previous year[21]. - Cash outflow for investment activities was CNY 3,035,340,182.95, an increase of 6.9% compared to CNY 2,839,375,650.85[21]. - Net cash flow from investment activities was CNY 255,619,903.96, a decrease of 69.8% from CNY 847,061,850.93[21]. - Cash flow from financing activities resulted in a net outflow of CNY 1,113,244.23, compared to a net outflow of CNY 673,465.56 in the previous year[21]. - The impact of exchange rate changes on cash and cash equivalents was a decrease of CNY 2,251,704.94, compared to a decrease of CNY 5,269,961.16 last year[21]. - The ending balance of cash and cash equivalents was CNY 2,428,939,276.44, down from CNY 3,277,618,456.85 in the previous year[21]. - Total cash and cash equivalents increased by CNY 1,109,043,046.51, compared to an increase of CNY 1,153,309,766.31 in the previous year[21]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 12,264,780,093.47, an increase of 2.78% from the end of the previous year[4]. - The total liabilities decreased to CNY 3,516,577,581.21 from CNY 3,703,342,268.54, indicating a reduction of about 5.04%[15]. - The total liabilities as of Q1 2022 were CNY 4,141,552,622.55, compared to CNY 4,074,352,613.26 in the same period last year, indicating a growth of 1.7%[16]. - The company's inventory decreased to CNY 1,880,829,902.20 from CNY 1,969,885,333.91, reflecting a decline of approximately 4.52%[14]. - The accounts payable decreased to CNY 1,805,086,491.71 from CNY 2,047,483,999.00, a reduction of about 11.8%[15]. - The company's non-current assets totaled CNY 3,861,641,817.93, an increase from CNY 3,733,019,460.21, representing a growth of approximately 3.44%[15]. - The company is focusing on enhancing its financial position and operational efficiency as indicated by the changes in asset and liability management[15]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 10,239[7]. - The top shareholder, Zhou Xiaoping, held 35.89% of the shares, totaling 102,520,320 shares[7]. - The total equity attributable to shareholders increased to CNY 8,123,227,470.92, up by 3.36% compared to the end of the previous year[4]. - The total equity attributable to shareholders of the parent company was CNY 8,123,227,470.92, an increase from CNY 7,859,029,733.49 in the previous year[16]. Financial Investments - The company has invested a total of 1,000,000,000 CNY in structured deposits with an annualized return rate of 3.20% to 3.45%[10]. - The actual returns from structured deposits amounted to 1,396,164 CNY, 1,586,849 CNY, and 2,975,342 CNY for various investments[10]. - The company has a total of 320,000,000 CNY in structured deposits maturing on March 31, 2022, with an expected return of 2,406,575 CNY[11]. - The company has received a total of 750,411 CNY and 1,713,447 CNY from other structured deposits during the reporting period[11]. - The company has no plans for future entrusted financial management as of the reporting date[10]. - The company has utilized self-owned funds and convertible bond issuance funds for its financial investments[10]. - The company has successfully recovered all principal amounts from its structured deposit investments[10]. - The annualized return rates for the structured deposits range from 3.25% to 3.50%[11]. - The company has engaged in multiple structured deposit agreements with various banks, including CITIC Bank and China Construction Bank[10][11]. - The company has not made any provisions for impairment related to its financial investments during the reporting period[10].

Financial Performance - The net profit for the parent company in 2021 was ¥974,464,778.33, with retained earnings of ¥2,711,311,837.73 after deducting cash dividends of ¥359,007,929.80 for the previous year [2]. - The proposed cash dividend distribution for 2021 is ¥11 per 10 shares, totaling ¥314,247,360.90, with remaining undistributed profits of ¥3,012,521,325.36 to be carried forward [2]. - The company reported a total of 285,679,419 shares as the basis for the dividend distribution [2]. - The company's operating revenue for 2021 was CNY 7,909,449,648.26, an increase of 8.01% compared to CNY 7,322,715,089.72 in 2020 [13]. - Net profit attributable to shareholders for 2021 was CNY 949,442,102.18, a decrease of 18.12% from CNY 1,159,535,632.55 in 2020 [13]. - The net cash flow from operating activities decreased by 72.30% to CNY 519,575,257.74 in 2021 from CNY 1,875,437,867.28 in 2020 [13]. - The total assets at the end of 2021 were CNY 11,933,382,346.75, representing a 4.42% increase from CNY 11,428,014,684.96 at the end of 2020 [13]. - Basic earnings per share for 2021 were CNY 3.4087, down 18.82% from CNY 4.1989 in 2020 [14]. - The weighted average return on equity for 2021 was 14.64%, a decrease of 7.12 percentage points from 21.76% in 2020 [14]. - The net profit after deducting non-recurring gains and losses was CNY 846,769,895.16, down 21.77% from CNY 1,082,475,664.50 in 2020 [13]. Research and Development - R&D expenses increased by 25.65% to 387.75 million yuan, driven by higher employee compensation and research materials [25]. - The company undertook 62 vehicle lamp development projects and commenced mass production for 42 new models in 2021 [24]. - The company established R&D centers in Shanghai and Wuhan, focusing on automotive lighting and electronics [24]. - The number of R&D personnel is 1,493, accounting for 18.98% of the total workforce [35]. Market and Industry Trends - The automotive lighting industry is trending towards electronic and intelligent features, with significant growth in ambient lighting due to consumer demand [20]. - The automotive lighting industry in China is dominated by a few leading companies, with strict quality requirements from large vehicle manufacturers driving this concentration [49]. - In 2021, over 26 million vehicles were produced and sold in China, marking a recovery from three consecutive years of decline, with new energy vehicles exceeding 3.5 million units and capturing a market share of 13.4% [49]. Risks and Challenges - Risks include potential declines in the automotive industry due to global economic uncertainties and supply chain issues, which could adversely affect production and sales [52]. - The company faces risks related to high customer concentration, as losing major clients could significantly impact revenue and profit levels [53]. - Rising raw material costs and increased competition in the automotive manufacturing sector may lead to a decline in gross margins for the company's lighting business [54]. - The ongoing COVID-19 pandemic poses risks to market expansion, supply chain, and logistics, potentially affecting project timelines and operational performance [54]. Corporate Governance and Management - The company’s legal representative is Zhou Xiaoping, and the accounting work is overseen by Li Shujun [6]. - The company has not reported any significant changes in business, products, or services during the reporting period [30]. - The total pre-tax remuneration for the board of directors and senior management during the reporting period amounted to 579.46 million yuan [61]. - The company has not faced any penalties from securities regulatory authorities in the past three years [69]. - There were no changes in the company's directors, supervisors, and senior management during the reporting period [69]. Financial Position and Assets - The total assets at the end of 2021 were CNY 11,933,382,346.75, representing a 4.42% increase from CNY 11,428,014,684.96 at the end of 2020 [13]. - The total net assets attributable to shareholders increased by 32.77% to CNY 7,859,029,733.49 at the end of 2021 from CNY 5,919,415,876.11 at the end of 2020 [13]. - The company has overseas assets totaling ¥415,706,046.09, representing 3.48% of total assets [39]. - The total amount of financial assets measured at fair value decreased by ¥418,239,628.86 to ¥2,531,322,533.83 [46]. Cash Flow and Investments - The net cash flow from investment activities improved by 50.85%, amounting to -¥938,255,177.37 [36]. - The company has made significant investments in construction projects, with in-progress construction assets increasing by 76.31% to ¥73,642.92 million [37]. - The company has entrusted cash asset management with a total of 7,675,440,000 RMB in structured deposits from its own funds, with an outstanding balance of 1,290,000,000 RMB [105]. Shareholder Information - The largest shareholder, Zhou Xiaoping, holds 102,520,320 shares, representing 35.89% of the total shares [117]. - The second largest shareholder, Zhou Bajin, holds 34,915,307 shares, representing 12.22% of the total shares [117]. - The company has a total of 7,410 common stock shareholders as of the report date, down from 10,766 in the previous month [116]. Audit and Compliance - The company received a standard unqualified audit report from Tianheng Accounting Firm [2]. - The company retained Tianheng Accounting Firm for the audit of the 2021 financial report and internal control audit [57]. - The audit opinion confirmed that the financial statements fairly reflect the company's financial position as of December 31, 2021 [134]. Dividend Policy - The company maintains a cash dividend policy that requires at least 30% of the average distributable profit over the last three years to be distributed in cash [83]. - The company distributed a total cash dividend of CNY 359,001,801.60, with a payout of CNY 13.00 per 10 shares [84]. - The company plans to distribute a cash dividend of 11 CNY for every 10 shares in 2021, totaling 2.517 billion CNY in cumulative dividends over 11 years, which accounts for 46.02% of the net profit attributable to shareholders in the consolidated financial statements [94].

Group 1: Company Overview - The company reported a normal operating situation, with a strong production and sales performance in January and February 2022. In 2021, the company secured new project orders amounting to approximately 13.5 billion RMB, which are expected to enter mass production by the end of 2022 and in 2023, contributing to revenue and profit [3][4]. Group 2: Product Development and Technology Trends - The automotive lighting industry is moving towards electronic, intelligent, and digital upgrades, with future directions focusing on advanced driving assistance systems (ADB) and digital light processing (DLP) headlights. The company has already launched mass production projects for ADB headlights and secured a DLP headlight project by the end of 2021 [3][4]. - Ambient lighting is becoming a key aspect of consumer personalization in vehicle interiors, with significant market potential. The company has sufficient technical reserves for ambient lighting and has already initiated mass production projects in this area [4]. Group 3: Client and Market Strategy - The company has successfully entered the supplier system for new forces and leading domestic brands, securing relevant projects [4]. - The Serbian factory is progressing normally, with future capacity planning to be carried out in an orderly manner based on project acquisition [4]. - The company is exploring global expansion for additional production capacity based on business development plans [4]. Group 4: Research and Development - The company has established a technical research institute in Changzhou and set up R&D branches in multiple locations, including Shanghai and Wuhan, to enhance research on cutting-edge automotive lighting and electronics technologies [4]. - The company plans to continue advancing ADB headlights, DLP headlights, and ambient lighting projects, while increasing the proportion of high-tech and high-value-added products in its portfolio. It will also strengthen cooperation with leading domestic and international automotive manufacturers [4].

Financial Performance - The company's operating revenue for Q3 2021 was CNY 1,707,015,501.40, a decrease of 8.71% compared to the same period last year[4]. - The net profit attributable to shareholders was CNY 168,923,680.50, down 46.52% year-on-year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 144,677,993.53, a decrease of 51.91% compared to the previous year[4]. - The basic earnings per share for the quarter was CNY 0.5918, a decline of 48.26% year-on-year[4]. - Total operating costs for Q3 2021 were CNY 4,887,734,940.87, an increase from CNY 3,942,590,657.34 in Q3 2020, representing a growth of approximately 24%[21]. - Net profit for Q3 2021 reached CNY 738,504,004.16, compared to CNY 706,993,709.09 in Q3 2020, reflecting an increase of about 4.5%[21]. - The total comprehensive income for Q3 2021 was CNY 724,898,915.03, compared to CNY 707,044,162.00 in the same quarter last year, reflecting a growth of approximately 2.5%[22]. - The company incurred financial expenses of CNY 25,596,134.52, a notable increase from a financial income of CNY 15,463,520.93 in Q3 2020[21]. - Tax expenses for Q3 2021 were CNY 104,251,490.53, down from CNY 142,610,775.65 in Q3 2020, indicating a decrease of about 27%[21]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 11,369,691,586.85, a decrease of 0.51% from the end of the previous year[5]. - Total liabilities decreased to ¥3,708,485,352.15 from ¥5,508,598,808.85, a significant reduction of 32.6%[19]. - Non-current assets totaled ¥3,420,190,116.30, up from ¥2,809,423,439.26, marking an increase of 21.7%[18]. - The company reported a decrease in accounts payable to ¥1,688,652,427.22 from ¥2,071,637,233.44, a decline of 18.5%[18]. - The company reported a total asset value of approximately ¥11.43 billion as of Q3 2021, reflecting a slight increase of ¥7.61 million[29]. Shareholder Information - The equity attributable to shareholders increased by 29.43% to CNY 7,661,206,234.70 compared to the end of the previous year[5]. - The number of ordinary shareholders at the end of the reporting period was 9,291[9]. - The top shareholder, Zhou Xiaoping, holds 35.89% of the shares, totaling 102,520,320 shares[9]. - The total equity attributable to shareholders was approximately ¥5.92 billion, showing a decrease of ¥356.38 thousand from the previous reporting period[29]. Cash Flow and Investments - The net cash flow from operating activities decreased by 55.09% year-to-date, totaling CNY 469,145,275.51[4]. - The company reported a net cash flow from investment activities of CNY 566,678,418.15, a significant improvement from a negative CNY 201,873,593.10 in Q3 2020[25]. - Cash inflow from investment activities totaled CNY 10,710,143,905.32, compared to CNY 5,969,023,830.91 in the previous year, showing an increase of about 79%[25]. - The net increase in cash and cash equivalents for Q3 2021 was approximately ¥650.32 million, compared to ¥347.50 million in Q3 2020[26]. - The ending balance of cash and cash equivalents as of Q3 2021 was approximately ¥2.77 billion, up from ¥1.51 billion in the same period last year[26]. Financial Management and Strategy - The company has engaged in structured deposits totaling 150 million RMB with an annualized return of 3.20%, yielding actual returns of approximately 2.38 million RMB[13]. - The company has a significant investment in structured deposits, with amounts reaching up to 500 million RMB, showcasing its liquidity management approach[13]. - The company has utilized various banks for its financial management, including China Construction Bank and CITIC Bank, indicating a diversified financial strategy[13]. - The company has consistently achieved returns above 1 million RMB from its financial management activities, demonstrating effective investment performance[13]. - The company has plans for future entrusted financial management, indicating ongoing investment strategies[13]. Market Presence and Development - The company is focusing on expanding its market presence and developing new technologies to enhance product offerings[20]. - The company reported a significant increase in construction in progress by 60.29%, attributed to increased investment in infrastructure projects[7]. - Research and development expenses amounted to CNY 263,170,700.83, up from CNY 208,842,518.17 in the same quarter last year, indicating a rise of approximately 26%[21].

Financial Performance - The company's operating revenue for the first half of 2021 was ¥3,951,351,888.78, representing a 37.27% increase compared to ¥2,878,556,410.57 in the same period last year[16]. - The net profit attributable to shareholders of the listed company was ¥569,580,323.66, up 45.63% from ¥391,115,166.61 in the previous year[16]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥521,214,202.02, reflecting a 47.31% increase from ¥353,811,418.60 in the same period last year[16]. - The company's basic earnings per share for the first half of the year is 2.0617 RMB, a 45.57% increase compared to the same period last year[17]. - The net profit attributable to shareholders increased by 45.63% year-on-year, primarily due to the growth in the automotive lighting business[17]. - The company achieved a revenue of 3.951 billion RMB, representing a year-on-year growth of 37.27%[29]. - The company reported a net profit of 570 million RMB for the first half of the year, up 45.63% from the previous year[29]. - The total profit for the first half of 2021 was approximately ¥661.11 million, an increase of 42.8% from ¥463.04 million in the first half of 2020[88]. Cash Flow - The net cash flow from operating activities decreased by 73.98% to ¥167,010,723.23, down from ¥641,899,550.09 in the previous year[16]. - The net cash flow from investing activities increased by 61.66% to ¥651,144,460.76, compared to ¥402,789,959.65 in the same period last year[16]. - The net cash flow from financing activities improved by 6.88%, amounting to -¥364,527,239.49, compared to -¥391,457,843.11 in the previous year[16]. - Operating cash inflow for the first half of 2021 was CNY 3,929,602,959.36, an increase of 15.2% compared to CNY 3,409,687,790.03 in the same period of 2020[90]. - Cash outflow from operating activities totaled CNY 3,762,592,236.13, compared to CNY 2,767,788,239.94 in the previous year, reflecting a 36.0% increase[90]. - The net cash flow from operating activities was CNY 19,646,745.22, a decrease from CNY 632,379,428.36 year-on-year, indicating a decline of 96.9%[93]. Assets and Liabilities - The net assets attributable to shareholders of the listed company at the end of the reporting period were ¥6,215,622,453.63, a 5.00% increase from ¥5,919,415,876.11 at the end of the previous year[16]. - Total assets at the end of the reporting period were ¥11,354,541,071.04, showing a slight decrease of 0.64% from ¥11,428,014,684.96 at the end of the previous year[16]. - Total liabilities were reported at RMB 5,138,918,617.41, down from RMB 5,508,598,808.85, indicating a reduction of approximately 6.71%[82]. - Shareholders' equity increased to RMB 6,215,622,453.63 from RMB 5,919,415,876.11, marking an increase of about 5.02%[82]. - Current assets totaled RMB 8,158,566,955.08, down from RMB 8,618,591,245.70 at the end of 2020, indicating a decrease of approximately 5.34%[81]. - Total liabilities decreased to ¥4,993,117,653.69, down 8.3% from ¥5,449,734,156.98 in the previous year[84]. Research and Development - Research and development expenses increased by 22.67% to ¥134,328,353.95, driven by higher employee compensation and R&D materials[32]. - The company established a new R&D center in Shanghai to enhance its technological innovation and R&D capabilities[30]. - The company has successfully developed pixel-based headlights as part of its new technology initiatives[29]. - The company undertook 27 new automotive lighting development projects and commenced mass production for 31 new models in the first half of 2021[29]. - Research and development expenses increased to approximately ¥164.79 million, a rise of 22.7% compared to ¥134.33 million in the first half of 2020[88]. Market and Industry - The penetration rate of new energy vehicles in the market increased from 5.4% at the beginning of the year to 9.4% by mid-year[24]. - The company maintains strong partnerships with major automotive manufacturers, including Volkswagen and BMW, enhancing its market position[21]. - The company is experiencing pressure on gross margins due to rising raw material costs and increased competition in the automotive manufacturing sector, which could lead to further declines if not managed effectively[43]. Risks and Challenges - The company faces risks from fluctuations in the automotive industry, which is significantly influenced by macroeconomic cycles, potentially impacting production and operations if economic conditions worsen[40]. - There is a risk associated with technology research and product development, as the company must keep pace with automotive advancements to remain competitive; delays could lead to difficulties in recovering initial investments[41]. - High customer concentration poses a risk, as the company relies on a limited number of large automotive manufacturers; loss of major clients could significantly affect revenue and profit levels[42]. - The ongoing impact of the COVID-19 pandemic presents uncertainties that could disrupt market expansion, supply chains, and logistics, adversely affecting operational performance[46]. Corporate Governance and Compliance - The company has committed to not transferring more than 25% of its total shares held during its tenure as a senior management personnel and will not transfer shares within six months after leaving the position[52]. - There are no significant lawsuits or arbitration matters during the reporting period[54]. - The company has ensured compliance with social insurance and housing fund contributions for employees, committing to compensate for any penalties incurred[52]. - The company has retained Tianheng Accounting Firm for the 2021 financial report audit, with no changes in the auditing firm during the period[53]. Financial Management - The company reported a total of 1.8 billion RMB in actual returns from various entrusted financial management products, with an annualized yield ranging from 1.48% to 3.50%[57]. - The company has recovered 100% of the entrusted financial management funds, indicating effective management of investments[57]. - The company has diversified its financial management strategies by incorporating various banks, including China Construction Bank and CITIC Bank, to optimize returns[57]. - The company plans to continue utilizing self-owned funds and convertible bond issuance funds for future financial management strategies[57]. Shareholder Information - As of the end of the reporting period, the total number of ordinary shareholders was 8,507[63]. - The largest shareholder, Zhou Xiaoping, holds 102,520,320 shares, accounting for 37.04% of the total shares[64]. - The total number of shares after the conversion increased to 276,804,547 shares[60]. - The total number of convertible bondholders for Xingyu Convertible Bonds is 7,890[70]. Accounting Policies - The company adheres to the accounting standards and policies set forth by the Ministry of Finance, ensuring accurate financial reporting[112]. - The company’s accounting currency is Renminbi (RMB)[114]. - The company recognizes incremental costs incurred to obtain contracts as an asset, which is amortized based on the revenue recognition of related goods or services[167]. - The company assesses expected credit losses based on all reasonable and supportable information, including forward-looking information[126]. Inventory and Receivables Management - The company uses a perpetual inventory system for inventory management[132]. - The total accounts receivable amounted to CNY 1,017,814,374.83, with a bad debt provision of CNY 9,052,986.83, representing a provision rate of 0.88%[194]. - The aging analysis indicates that there are no receivables overdue beyond three years[199]. - The company continues to monitor and adjust its credit policies to mitigate potential risks associated with accounts receivable[200].

Financial Performance - The company achieved a net profit of ¥1,160,299,840.43 for the year 2020, with a total distributable profit of ¥2,711,731,111.17 after accounting for previous undistributed profits and cash dividends paid[3]. - A cash dividend of ¥13 per 10 shares (including tax) is proposed, totaling ¥359,001,801.60, with the remaining undistributed profit of ¥2,352,729,309.57 to be carried forward to future distributions[3]. - The company's operating revenue for 2020 was CNY 7,322,715,089.72, representing a 20.21% increase from CNY 6,091,798,416.53 in 2019[13]. - Net profit attributable to shareholders increased by 46.79% to CNY 1,159,535,632.55 from CNY 789,911,876.84 in the previous year[14]. - The basic earnings per share for 2020 was CNY 4.1989, up 46.79% from CNY 2.8604 in 2019[14]. - The company's net cash flow from operating activities reached CNY 1,082,475,664.50, a 47.22% increase compared to CNY 735,293,796.70 in 2019[13]. - Total assets at the end of 2020 were CNY 11,428,014,684.96, a 33.59% increase from CNY 8,554,244,575.27 in 2019[13]. - The company reported a weighted average return on equity of 21.76% for 2020, an increase of 4.60 percentage points from 17.16% in 2019[14]. Business Operations - The company focuses on the research, design, manufacturing, and sales of automotive lighting, primarily for passenger vehicles[22]. - The increase in sales volume of automotive lamps was a key driver for the growth in net profit attributable to shareholders[14]. - The company has maintained its business model centered around automotive lighting projects, requiring certification from vehicle manufacturers[22]. - The company benefited from a steady increase in new orders, contributing to its stable performance during the reporting period[22]. - The company undertook 62 vehicle lamp development projects and commenced mass production for 42 new models in 2020, ensuring strong future growth[25]. - The gross profit margin for automotive parts was 27.34%, an increase of 2.55 percentage points year-on-year[29]. - The domestic revenue from automotive parts was 6.76 billion RMB, a year-on-year increase of 21.58%[29]. - The company maintains a strong partnership with various automotive manufacturers, including European, Japanese, and domestic brands[24]. Research and Development - The company invested 308.58 million RMB in R&D, which is a 34.16% increase from the previous year[27]. - The company plans to enhance its automotive electronics and lighting R&D capabilities, focusing on high-quality development and technological breakthroughs[48]. - The company has a total of 1,065 R&D personnel, making up 15.68% of the total workforce[36]. Financial Position - The total assets of the company increased to 11.43 billion RMB, a growth of 33.59% from the beginning of the period[26]. - The total liabilities included ¥1,322,949,123.44 in bonds payable, attributed to the public issuance of convertible bonds[39]. - The total amount of entrusted wealth management is 9,313,440,000 RMB, with an outstanding balance of 2,949,562,162.69 RMB[62]. - The company reported a total asset of €110.78 million for its European subsidiary, with a revenue of €748.49 million[44]. Risks and Challenges - The company faces risks related to the automotive industry's downturn, which could adversely affect its production and operations if the vehicle manufacturing sector continues to decline[49]. - The company is at risk of declining gross margins due to increasing competition in the automotive manufacturing industry and rising costs of raw materials and labor[50]. - The company has ongoing projects, including a research center and a smart manufacturing industrial park, which are subject to risks from market environment changes and technological advancements[51]. - The company has a high customer concentration risk, as losing major clients could significantly impact its revenue and profit levels[49]. Corporate Governance - The company has not reported any non-operating fund occupation by controlling shareholders or related parties, nor any violations in decision-making procedures for external guarantees[4]. - The company has appointed Tianheng Accounting Firm (Special General Partnership) for auditing with a fee of 600,000 RMB and has maintained this auditor for 10 years[57]. - The independent directors did not raise any objections regarding company matters during the reporting period[99]. - The company adheres to governance standards set by the China Securities Regulatory Commission and the Shanghai Stock Exchange[95]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 7,718, down from 8,026 at the end of the previous month[77]. - The top five customers accounted for 77.58% of total sales, with no sales to related parties[34]. - The top ten shareholders hold a total of 37.12% of the shares, with the largest shareholder, Zhou Xiaoping, owning 102,520,320 shares[78]. Cash Flow and Investments - The net cash flow from operating activities was ¥1,875,437,867.28, a 73.65% increase from the previous year[37]. - The total cash inflow from operating activities for 2020 was CNY 8,155,909,010.43, an increase of 40.5% compared to CNY 5,815,575,226.72 in 2019[124]. - The net cash flow from investment activities was -CNY 1,909,137,790.61, a significant decline from -CNY 203,625,573.05 in 2019[124]. - The total cash and cash equivalents at the end of 2020 reached CNY 2,124,308,690.54, up from CNY 1,158,593,265.80 at the end of 2019, reflecting a growth of 83.5%[125]. Compliance and Regulations - The company has implemented new revenue recognition standards starting January 1, 2020, in compliance with regulatory requirements[56]. - The company confirms that there were no risks identified by the supervisory board during the reporting period[100]. - The company adheres to the accounting standards set forth by the Ministry of Finance, ensuring that its financial statements accurately reflect its financial position and results of operations[144]. Social Responsibility - The company has engaged in social responsibility initiatives, including blood donation activities and community support events, demonstrating its commitment to societal contributions[69]. - The company has not reported any environmental violations or penalties, adhering strictly to national environmental protection laws and regulations[70].