Financial Performance - The company reported a total distributable profit of RMB 1,694,697,144.95 as of December 31, 2019, with a distributable profit for the year of RMB 282,354,070.35[6] - A cash dividend of RMB 5 per 10 shares (including tax) is proposed, amounting to a total of RMB 257,115,250.00, which represents 91.06% of the company's distributable profit for 2019[6] - The proposed cash dividend distribution accounts for 66.95% of the net profit attributable to shareholders in the consolidated financial statements for 2019[6] - The company's operating revenue for 2019 was approximately ¥9.14 billion, representing a 16.42% increase compared to ¥7.85 billion in 2018[24] - Net profit attributable to shareholders was approximately ¥384 million, an increase of 15.15% from ¥334 million in the previous year[24] - The net cash flow from operating activities reached approximately ¥811 million, marking a significant increase of 67.98% compared to ¥483 million in 2018[24] - Basic earnings per share for 2019 were ¥0.75, an increase of 8.70% from ¥0.69 in 2018[25] - The weighted average return on equity was 12.30%, a decrease of 0.41 percentage points from 12.71% in 2018[25] - The total assets of the company at the end of 2019 were approximately ¥6.81 billion, reflecting a 10.54% increase from ¥6.16 billion at the end of 2018[24] - The company's net assets attributable to shareholders increased by 6.88% to approximately ¥3.24 billion at the end of 2019, compared to ¥3.03 billion at the end of 2018[24] Business Operations - The company focuses on the research, development, manufacturing, and sales of automotive fuel systems and energy storage products, with no significant changes in its main business during the reporting period[36] - The company maintains a global operating model covering the entire industry chain from research and development to sales, with no changes in its operational model during the reporting period[37] - The company has established 26 production bases globally, including 8 overseas, enhancing its risk management capabilities through a global layout[49] - The company has made significant progress in international operations, with overseas subsidiaries like YAP Czech and YAP Russia showing good performance[58] - The company has launched a temperature control fuel system project to reduce the impact of external temperature changes on fuel systems, thereby minimizing fuel vapor pollutants[45] Market Trends - In 2019, China's GDP grew by 6.1%, maintaining its position as the world's second-largest economy with a GDP close to 100 trillion RMB[38] - In 2019, China's automobile production and sales were 25.72 million and 25.77 million units, respectively, representing a year-on-year decline of 7.5% and 8.2%[39] - Global automobile sales decreased to 90.3 million units in 2019, a year-on-year decline of 4.3%[42] - The global light vehicle production is expected to decline by around 8% in 2020 due to the impact of COVID-19 and other factors[42] - The company is positioned to benefit from the ongoing transition towards new energy and intelligent vehicles, aligning with industry trends towards energy efficiency and system integration[86] Research and Development - The company has developed a technology roadmap focusing on traditional fuel systems, alternative fuel storage systems, and plug-in hybrid fuel systems[42] - The company aims to enhance its global R&D capabilities and has established a comprehensive global R&D system[42] - The company is actively promoting plug-in hybrid fuel systems and developing new solutions to reduce costs and increase market share[42] - The company invested heavily in R&D, with expenses amounting to 286,234,830.11 CNY, a 17.13% increase from the previous year[60] - Research and development expenses totaled ¥286,234,830.11, accounting for 3.13% of total revenue, with a year-over-year increase of 17.13%[75] Corporate Governance - The company has established a governance structure with clear responsibilities, ensuring the protection of shareholder rights[152] - The company has implemented a transparent and internationalized management system, improving operational efficiency through digital management tools[52] - The company has maintained a good integrity status during the reporting period, with no significant lawsuits or arbitration matters reported[125] - The company has not faced any risks of suspension or termination of listing during the reporting period[125] - The company has not reported any significant changes in the integrity status of its controlling shareholders or actual controllers[125] Social Responsibility and Environmental Impact - The company emphasizes its commitment to social responsibility while pursuing profit and development, aiming for a harmonious relationship between employee and company growth[149] - The company has reduced hydrocarbon emissions from 1000 mg to 20 mg per day, meeting the highest international evaporation emission standards[150] - With the implementation of National VI standards, the company's products are expected to reduce approximately 500 tons of hydrocarbon pollutants annually[150] - The fuel tank system can recover no less than 96% of gasoline vapor during refueling, contributing to significant energy savings[150] - The company has complied with environmental regulations, with no pollution incidents reported during the reporting period[154] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 21,075, an increase from 19,850 at the end of the previous month[160] - The top ten shareholders held a total of 252,450,000 shares, representing 49.50% of the total shares, with no changes during the reporting period[163] - The largest shareholder, Guotou High-tech Investment Co., Ltd., holds 252,450,000 shares, with a lock-up period of 36 months[163] - The company does not have any changes in the number of ordinary shares or share capital structure during the reporting period[159] - The company has no strategic investors or general corporations becoming top ten shareholders during the reporting period[166] Future Outlook - The company aims to achieve consolidated revenue of 9 billion yuan in 2020, with a target to control operating costs within 7.8 billion yuan[103] - The company plans to enhance cost control mechanisms and improve operational efficiency to boost profitability[103] - The company anticipates significant market potential for fuel cell vehicles by 2035, driven by advancements in technology and decreasing manufacturing costs[102] - The company will continue to strengthen risk management for overseas operations to mitigate uncertainties related to international expansion[107] - The company is exploring partnerships with tech firms to integrate advanced technologies into its product offerings[183]

Financial Performance - Net profit attributable to shareholders rose by 24.26% to CNY 290,302,559.12 year-to-date[11] - Operating revenue for the first nine months reached CNY 6,169,975,679.61, a 9.69% increase year-on-year[11] - Basic earnings per share rose by 16.33% to CNY 0.57 compared to the same period last year[11] - Total operating revenue for Q3 2019 reached ¥2,335,636,725.53, a 26.1% increase from ¥1,851,730,291.28 in Q3 2018[48] - Net profit for Q3 2019 was ¥137,895,763.73, compared to ¥52,366,274.54 in Q3 2018, representing a 163.5% increase[50] - Operating profit for Q3 2019 was approximately ¥128.31 million, up 125.5% from ¥56.91 million in Q3 2018[59] - Net profit for Q3 2019 was approximately ¥108.78 million, compared to ¥48.92 million in Q3 2018, representing a 121.5% increase[59] - Total operating revenue for the first three quarters of 2019 was ¥6,169,975,679.61, a 9.7% increase from ¥5,625,038,884.27 in the same period of 2018[48] Assets and Liabilities - Total assets increased by 11.11% to CNY 6,844,413,937.47 compared to the end of the previous year[11] - Total current assets increased to RMB 4.18 billion from RMB 3.51 billion at the end of 2018, reflecting a significant growth in liquidity[33] - Current liabilities totaled approximately $2.85 billion, compared to $2.01 billion in the previous year, reflecting an increase of around 42%[39] - Total liabilities amounted to approximately $3.60 billion, compared to $3.04 billion, representing an increase of about 18.4%[39] - Total equity attributable to shareholders was CNY 3,034,436,212.63, with retained earnings of CNY 1,576,317,232.78[77] - The total liabilities increased to ¥1,903,385,644.52 from ¥1,569,728,830.76 year-over-year, reflecting a growth of 21.2%[45] - The total equity increased to ¥3,191,956,505.52 from ¥3,163,703,554.64, showing a growth of 0.9%[45] Cash Flow - Net cash flow from operating activities increased by 54.42% to CNY 615,846,237.26 year-to-date[11] - The net cash flow from operating activities for the first three quarters of 2019 was CNY 615,846,237.26, up from CNY 398,823,345.40 in 2018, indicating a significant increase of approximately 54.5%[64] - The cash inflow from sales of goods and services in Q3 2019 was CNY 2,667,292,568.03, a decrease from CNY 2,779,255,570.97 in Q3 2018, representing a decline of approximately 4%[69] - The net cash flow from operating activities in Q3 2019 was CNY 414,025,227.78, an increase from CNY 278,495,588.17 in Q3 2018, indicating a growth of approximately 48.7%[69] - The cash inflow from financing activities in Q3 2019 was CNY 475,000,000.00, compared to CNY 1,358,954,190.94 in Q3 2018, showing a decrease of approximately 65%[66] Shareholder Information - The total number of shareholders reached 21,999 by the end of the reporting period[17] - The largest shareholder, Guotou High-tech Investment Co., Ltd., holds 49.5% of the shares[17] Investments and Expenses - Research and development expenses for Q3 2019 amounted to ¥55,595,436.32, a decrease of 23.0% from ¥72,347,486.70 in Q3 2018[48] - Investment income decreased by 43.01% to RMB 5.75 million, mainly due to a decline in profits from joint ventures accounted for using the equity method[24] - Financial expenses decreased by 39.91% to RMB 36.88 million, primarily due to reduced interest expenses from decreased borrowings[24] Future Outlook - The company has not disclosed any new product developments or market expansion strategies in this report[11] - Future outlook includes continued investment in R&D and potential market expansion strategies, although specific figures were not provided in the call[58]

2019 年第一季度报告 公司代码：603013 公司简称：亚普股份 亚普汽车部件股份有限公司 2019 年第一季度报告 1 / 24 2019 年第一季度报告 í 二、 11Í 四、 目录 | --- | |----------------| | | | 重要提示 . | | 公司基本情况 . | | 重要事项 . | | 附录 . | 2 / 24 2019 年第一季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司董事长郝建、主管会计工作负责人王钦及会计机构负责人（会计主管人员）徐晨保证季 度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 单位：元 币种：人民币 | --- | --- | --- | --- | |-------------------------------------------------|----------------- ...

Financial Performance - The company's operating revenue for 2018 was approximately ¥7.85 billion, representing a year-over-year increase of 10.94% compared to ¥7.08 billion in 2017[23]. - The net profit attributable to shareholders for 2018 was approximately ¥333.52 million, a slight decrease of 0.37% from ¥334.77 million in 2017[23]. - The net profit after deducting non-recurring gains and losses was approximately ¥297.01 million, down 10.17% from ¥330.65 million in 2017[23]. - The net cash flow from operating activities decreased by 29.56% to approximately ¥482.63 million from ¥685.15 million in 2017[23]. - The company's total assets increased by 11.88% to approximately ¥6.16 billion at the end of 2018, compared to ¥5.51 billion at the end of 2017[23]. - The weighted average return on equity decreased by 3.83 percentage points to 12.71% in 2018 from 16.54% in 2017[23]. - The total profit reached RMB 387.25 million, reflecting a year-on-year growth of 3.16%[44]. - The company achieved fuel tank sales of 10.0531 million units, maintaining its position as the third largest in the global industry[133]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 4.00 per 10 shares, totaling RMB 204 million, which accounts for 61.16% of the net profit attributable to shareholders for 2018[6]. - In 2018, the company distributed cash dividends amounting to CNY 204 million, representing 61.16% of the net profit attributable to ordinary shareholders[95]. - The company is committed to maintaining a cash dividend policy of at least 10% of distributable profits in profitable years[93]. Risk Management - The company has detailed potential risk factors in the report, which investors should review[8]. - The company faces risks from the rapid development of electric vehicles, which may reduce the demand for traditional fuel tanks[87]. - The company will strengthen internal control and compliance management for overseas operations to mitigate risks from political and economic instability[87]. - The company is exposed to foreign exchange risks due to international procurement, which may impact financial performance[87]. - The company will monitor foreign currency transactions and may use financial instruments to manage exchange rate fluctuations[87]. Corporate Governance - The company has established a clear corporate governance structure, ensuring the protection of shareholder and creditor rights through a well-defined operational system[130]. - The company has committed to maintaining strict adherence to its promises, with penalties for any breaches that are not due to force majeure[101]. - The company has ensured that all major shareholders are bound by similar commitments to prevent conflicts of interest and maintain corporate governance[100]. - The company has a long-term commitment to maintain its shareholding structure without reduction intentions for two years post-lock-up expiration[102]. - The board of directors includes independent members, ensuring governance and oversight in decision-making processes[165]. Research and Development - The company focuses on the research, development, manufacturing, and sales of automotive fuel systems, serving major international and domestic automotive manufacturers[30]. - The company emphasizes continuous technological innovation and management improvement as key drivers for sustained profitability[32]. - New product developments include the YNTF® integrated fuel tank and plug-in hybrid fuel tank technology, which have gained international orders[44]. - The company is actively developing hydrogen fuel supply system technology, indicating a focus on alternative energy solutions[40]. - Research and development expenses amounted to ¥244,365,717.07, representing 3.11% of operating revenue, with a year-on-year increase of 14.84%[56]. Operational Efficiency - The company implemented various information management systems, including SAP and MES, to improve operational efficiency[44]. - The company aims to optimize supplier relationships and improve material utilization to reduce costs and enhance efficiency[90]. - The company plans to enhance its global market share and improve operational efficiency through smart manufacturing and lean management[86]. Market Presence - The company has established 26 production bases globally, including 8 overseas, enhancing its global presence[39]. - The company has a significant market share in the automotive fuel system industry, serving both major joint venture and independent passenger vehicle manufacturers[81]. - The automotive market is expected to face a slight decline in global sales in 2019, with projections indicating a decrease of 0.3% to 82.1 million units[36]. Financial Management - The company reported a net cash outflow from investing activities of ¥594,122,230.15, an increase of 43.29% compared to the previous year[59]. - Cash inflow from financing activities was ¥250,061,473.04, a significant increase of 198.22% compared to a net outflow of ¥254,595,054.41 in the previous year[59]. - The company has engaged in various entrusted financial management activities, with a total amount of RMB 1,000,000,000 across multiple transactions[126]. - The annualized return rates for entrusted financial management range from 3.25% to 4.90%, with actual returns reported for several transactions[126]. Employee Relations - The total number of employees in the parent company is 2,228, while the total number of employees in major subsidiaries is 2,191, resulting in a combined total of 4,419 employees[176]. - The employee contract signing rate reached 100%, and the insurance participation rate was also 100% during the reporting period[133]. - The company organized training for 2,829 participants in 2018, accumulating a total of 104,696 class hours[178]. - The company has established a comprehensive salary system that emphasizes performance orientation and adjusts salaries based on economic performance and CPI growth[177]. Compliance and Legal Matters - The company has not faced any risks of suspension or termination of its listing[108]. - There are no significant lawsuits or arbitration matters reported for the year[110]. - The company has not reported any entrusted loans or related impairment provisions during the reporting period[129]. - The company has not made any significant related party transactions during the reporting period[112].

Financial Performance - Operating revenue for the first nine months increased by 13.63% to CNY 5,625,038,884.27 compared to the same period last year[6]. - Net profit attributable to shareholders decreased by 3.95% to CNY 233,625,655.67 year-on-year[6]. - Basic earnings per share decreased by 9.26% to CNY 0.49[7]. - The weighted average return on equity decreased by 2.57 percentage points to 9.35%[6]. - Total revenue for the first nine months of 2018 reached ¥5,290,728,333.87, an increase from ¥4,788,833,589.91 in the same period last year, representing a growth of approximately 10.5%[39]. - Net profit for the third quarter was ¥48,917,202.08, compared to ¥71,868,463.88 in the previous year, indicating a decrease of about 32%[36]. - Total operating revenue for Q3 2018 was ¥1,116,343,297.40, a slight decrease of 0.1% compared to ¥1,123,395,107.56 in Q3 2017[35]. - Net profit for Q3 2018 reached ¥52,366,274.54, down 23.5% from ¥68,427,702.26 in the same period last year[30]. Assets and Liabilities - Total assets increased by 25.16% to CNY 6,890,553,161.22 compared to the end of the previous year[6]. - Total assets as of September 30, 2018, amounted to ¥5,147,145,060.80, up from ¥4,266,282,286.72 at the beginning of the year, reflecting a growth of 20.6%[27]. - The company's total liabilities increased to ¥2,078,940,212.22 from ¥1,976,170,994.17, representing a rise of 5.2%[27]. - Shareholders' equity rose to ¥3,068,204,848.58, compared to ¥2,290,111,292.55 at the beginning of the year, indicating an increase of 34.0%[27]. Cash Flow - Cash flow from operating activities decreased by 28.53% to CNY 398,823,345.40 compared to the same period last year[6]. - Cash inflow from operating activities for the first nine months of 2018 was CNY 398.82 million, a decrease of 28.53% compared to the same period last year[20]. - Operating cash flow for the first nine months was ¥398,823,345.40, down from ¥558,059,235.04 year-over-year, reflecting a decline of approximately 28.6%[39]. - The company reported a cash inflow from financing activities of CNY 968,245,350.94, compared to CNY 625,000,000.00 in the previous year, representing a growth of 55%[43]. - Cash inflow from financing activities for the first nine months of 2018 was CNY 705.42 million, an increase of 349.03% compared to the same period last year, primarily due to funds received from the IPO[19]. Expenses - Sales expenses increased by 32.51% year-on-year, amounting to CNY 110.63 million, primarily due to increased transportation costs from higher sales[18]. - Financial expenses increased by 42.60% year-on-year, amounting to CNY 61.39 million, mainly due to increased interest from additional borrowings[18]. - Research and development expenses for the third quarter were ¥72,347,486.70, slightly up from ¥70,385,377.49 year-over-year[29]. - Research and development expenses increased to ¥65,870,803.94 in Q3 2018, up 27.8% from ¥51,570,101.19 in Q3 2017[35]. Government Support - The company received government subsidies amounting to CNY 15,167,792.64 during the reporting period[8]. - Other income increased by 272.42% year-on-year, amounting to CNY 15.17 million, primarily due to increased government subsidies[18]. Shareholder Information - The number of shareholders reached 32,595 at the end of the reporting period[10].

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 3,773,308,592.99, representing a 15.21% increase compared to CNY 3,275,127,733.23 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was CNY 186,393,283.32, a 4.55% increase from CNY 178,284,276.16 in the previous year[18]. - The basic earnings per share for the first half of 2018 was CNY 0.41, a 2.50% increase from CNY 0.40 in the same period last year[19]. - The company reported a total of 113,460,000 CNY in expected related party transactions for the year, with 38,629,290 CNY realized in the first half of 2018[63]. - The company expects to sell goods worth 349,233,130 CNY to related parties in 2018, with 132,175,260 CNY realized in the first half[63]. Cash Flow and Assets - The net cash flow from operating activities increased by 59.16% to CNY 406,751,122.28, up from CNY 255,567,841.40 in the same period last year[18]. - Cash and cash equivalents at the end of the period amounted to ¥1,324,956,426.53, representing 20.07% of total assets, a 174.94% increase compared to the previous period[37]. - Accounts receivable decreased by 9.82% to ¥1,121,183,981.76, attributed to faster collection speed[37]. - Inventory increased by 16.85% to ¥1,314,482,535.81, mainly due to an increase in customer-supplied tooling[37]. - The total assets at the end of the reporting period were CNY 6,601,831,739.77, a 19.91% increase from CNY 5,505,597,094.96 at the end of the previous year[18]. Research and Development - The company’s R&D expenditure increased by 17.01% year-on-year, amounting to RMB 121.60 million[33]. - The company is actively developing a hydrogen fuel supply system to meet future market demands for fuel cell vehicles[25]. - The company successfully developed a steam management fuel system for plug-in hybrid electric vehicles, gaining recognition from major automakers[25]. Shareholder and Equity Information - The company has committed to a 36-month lock-up period for shares held by major shareholders, including Guotou Gaoke, Huayu Automotive, and Guotou Innovation, starting from the date of listing[50][51][52][53][54]. - Guotou Gaoke and Guotou Company have pledged to avoid engaging in any business activities that directly or indirectly compete with the company's main operations, ensuring long-term compliance[53][54]. - The total equity at the end of the current period increased to CNY 2,966,205,318.41, reflecting a significant growth from the previous balance[113]. Risks and Compliance - The company has outlined potential risks in its report, which investors should be aware of[5]. - The company faces risks from the rapid development of electric vehicles, which may reduce demand for plastic fuel tanks[44]. - The company has not reported any significant changes in the integrity status of its controlling shareholders during the reporting period[61]. Financial Management and Accounting - The company adheres to the Chinese Accounting Standards, ensuring that financial statements accurately reflect its financial position and operating results[126]. - The company recognizes joint ventures and jointly controlled operations, ensuring proper accounting treatment for shared assets and liabilities[133]. - The company employs a perpetual inventory system for its inventory management[147]. Market and Industry Outlook - The global automotive market is projected to reach 120 million units by 2025, with China accounting for 35 million units, or 29% of global sales[24]. - The company plans to continue focusing on market expansion and new product development to drive future growth[99]. Corporate Governance - The company appointed Jiang Lin as the new General Manager and Wang Qin as the new Financial Officer during the reporting period[86]. - The company has established measures to stabilize its stock price, including potential share buybacks and stock purchases by major shareholders[58].