2021 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 2021 年第一季度报告 1 / 23 2021 年第一季度报告 一、 二、 11Í 四、 目录 | --- | |----------------| | | | 重要提示 . | | 公司基本情况 . | | 重要事项 . | | 附录 . | 2 / 23 2021 年第一季度报告 单位：元 币种：人民币 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人郝建、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 | --- | --- | --- | --- | |------------------------------------------------|----------------- ...

Financial Performance - The company reported a total distributable profit of RMB 1,817,861,148.05 as of December 31, 2020, with a distributable profit for the year of RMB 380,279,253.11[6]. - Operating revenue for 2020 was CNY 8,859,295,780.46, a decrease of 3.05% compared to 2019[25]. - Net profit attributable to shareholders increased by 31.81% to CNY 506,196,183.14 in 2020[25]. - Net cash flow from operating activities rose significantly by 101.78% to CNY 1,635,921,152.19[25]. - Basic earnings per share increased by 32.00% to CNY 0.99 in 2020[27]. - The weighted average return on equity improved to 15.27%, an increase of 2.97 percentage points from 2019[27]. - The net profit attributable to shareholders after deducting non-recurring gains and losses grew by 39.86%[27]. - Total assets decreased by 7.39% to CNY 6,305,901,717.86 at the end of 2020[25]. - The company's net assets attributable to shareholders increased by 5.29% to CNY 3,414,972,406.06[25]. Dividend Distribution - A cash dividend of RMB 7 per 10 shares (including tax) is proposed, amounting to a total of RMB 359,957,150.00, which represents 94.66% of the distributable profit for 2020 and 71.11% of the net profit attributable to shareholders in the consolidated financial statements[6]. - The total share capital as of March 9, 2021, is 514,224,500 shares, which will be used as the basis for the dividend distribution[6]. - The company has maintained a consistent cash dividend policy over the past three years, with distributions increasing from 204,000,000.00 RMB in 2018 to 359,957,150.00 RMB in 2020[106]. - The company implemented a cash dividend distribution of 5.00 RMB per 10 shares for the 2019 fiscal year, totaling 257,115,250.00 RMB, which accounted for 66.95% of the net profit attributable to shareholders[105]. - The company has not made any adjustments to its cash dividend policy during the reporting period[107]. Audit and Compliance - The company has provided a standard unqualified audit report from the accounting firm Xin Yong Zhong He[5]. - The company maintains its commitment to ensuring the accuracy and completeness of the annual report, with all board members present at the meeting[5]. - The company has not faced any risks of suspension or termination of its listing during the reporting period[126]. - There were no significant lawsuits or arbitration matters reported during the year[126]. - The company has maintained good integrity, with no instances of failing to fulfill court judgments or significant debts that have not been repaid[126]. Strategic Development - The company focuses on the research, manufacturing, sales, and service of automotive energy storage systems, with key products including traditional and new energy vehicle storage systems and lightweight composite materials for electric vehicle battery packs[37]. - The company aims to expand new markets and develop new products, ensuring the timely production of new products that meet the "National VI" standards[39]. - The company is actively promoting the development of plug-in hybrid fuel systems and new generation battery pack shells to adapt to market trends[44]. - The company has established a global R&D system to enhance collaborative development capabilities and is focused on technological breakthroughs in fuel systems and alternative fuel storage systems[45]. - The company plans to strengthen its fuel business and optimize automotive functional system supply and service areas during the 14th Five-Year Plan period[98]. Environmental Commitment - The company emphasizes the importance of environmental protection and energy security in its strategic planning and technology development[153]. - The company's fuel tank products have contributed to reducing hydrocarbon emissions from 1000 mg to 300 mg under national standards, and further down to 20 mg under the latest standards[153]. - With the implementation of the National VI standard, the company's products are expected to reduce approximately 500 tons of hydrocarbon pollutants annually[153]. - The fuel tank system can recover no less than 96% of gasoline vapor during refueling, contributing to cleaner emissions[153]. - The contribution of the fuel tank to overall vehicle low emissions is reported to be 39%[153]. Operational Efficiency - The company is implementing refined management practices to enhance operational efficiency and control costs, focusing on intelligent manufacturing[39]. - The company achieved a cost reduction of 44.3 million yuan through various efficiency improvement initiatives, with a 20.4% year-on-year decrease in overdue accounts receivable[52]. - The company reported a significant reduction in sales expenses by 63.39% to CNY 67,282,985.49, primarily due to the reclassification of transportation costs[69]. - The company’s financial expenses decreased by 57.54% to CNY 22,571,660.42, attributed to reduced borrowing costs[71]. Research and Development - The company applied for 41 patents in 2020, with 34 being invention patents, and received various honors, including the "National Manufacturing Single Champion Product" title[52]. - The company’s R&D expenses totaled CNY 266,099,743.91, accounting for 3.00% of operating revenue, with 313 R&D personnel, representing 16.85% of the total workforce[72]. - The company is actively developing hydrogen fuel cell vehicle storage systems and lightweight materials, with ongoing experimental validations for new products[52]. Shareholder Relations - The company has established a robust investor relations management system to enhance communication and trust with investors[156]. - The company has fulfilled all commitments made by its actual controllers and shareholders during the reporting period[109]. - The company will take measures to stabilize its stock price if the closing price is below the latest audited net asset value for 20 consecutive trading days, including stock buybacks or increasing shareholdings by major shareholders[115].

Financial Performance - The company reported a total distributable profit of RMB 1,817,861,148.05 as of December 31, 2020, with a distributable profit for the year of RMB 380,279,253.11[6] - The company's operating revenue for 2020 was approximately ¥8.86 billion, a decrease of 3.05% compared to ¥9.14 billion in 2019[25] - Net profit attributable to shareholders increased by 31.81% to approximately ¥506.20 million from ¥384.04 million in 2019[25] - The net cash flow from operating activities surged by 101.78% to approximately ¥1.64 billion, up from ¥810.73 million in 2019[25] - Basic earnings per share rose by 32.00% to ¥0.99, compared to ¥0.75 in the previous year[27] - The weighted average return on equity increased by 2.97 percentage points to 15.27% from 12.30% in 2019[27] - The net profit after deducting non-recurring gains and losses grew by 39.86%, driven by product structure optimization and cost reduction measures[27] - Total assets decreased by 7.39% to approximately ¥6.31 billion from ¥6.81 billion in 2019[25] - The net assets attributable to shareholders increased by 5.29% to approximately ¥3.41 billion, up from ¥3.24 billion in 2019[25] Dividends and Shareholder Returns - A cash dividend of RMB 7 per 10 shares (including tax) is proposed, amounting to a total of RMB 359,957,150.00, which represents 94.66% of the distributable profit for 2020 and 71.11% of the net profit attributable to shareholders[6] - The total number of shares for the 2019 fiscal year was 514,230,500 shares, which served as the basis for the dividend distribution[105] - For the 2020 fiscal year, the company distributed a cash dividend of 7.00 RMB per 10 shares, amounting to 359,957,150.00 RMB, accounting for 77.11% of the net profit attributable to shareholders[106] - The company has maintained a consistent cash dividend policy over the past three years, with increasing amounts distributed each year[106] - The cash dividend distribution aligns with the company's commitment to return value to its shareholders[105] Risk Management and Compliance - The company has detailed potential risk factors in the report, which investors are encouraged to review[8] - The company has not faced any non-operating fund occupation by controlling shareholders or related parties[8] - The company has not violated any decision-making procedures regarding external guarantees[8] - The company emphasizes that future plans and strategic developments mentioned in the report do not constitute a substantive commitment to investors, highlighting investment risks[7] - The company is committed to reducing emissions and maintaining industry-leading emission standards as automotive emission regulations tighten[98] Research and Development - The company focuses on the research, manufacturing, sales, and service of automotive energy storage systems, with key products including traditional and new energy vehicle storage systems and lightweight composite materials for electric vehicle battery packs[37] - The company has developed lightweight battery pack shell products for pure electric vehicles (BEV) and has secured related mass production projects, marking a breakthrough in the composite materials field[39] - The company plans to establish a fuel tank production base in Uzbekistan, further expanding its production layout into "Belt and Road" countries[55] - The company’s R&D expenses amounted to CNY 266,099,743.91, representing 3.00% of operating revenue, with 313 R&D personnel accounting for 16.85% of total employees[72] Market and Industry Trends - In 2020, China's GDP reached RMB 101.60 trillion, marking a 2.3% year-on-year growth, making it the only major economy to achieve positive growth amid the pandemic[39] - The global electric vehicle sales grew by 40% in 2020, while hybrid vehicle sales increased by 74%, indicating a significant shift towards electric mobility[42] - The company is positioned to benefit from the optimistic outlook for the global automotive market, with a predicted growth of 5.5% in 2021[43] Corporate Governance and Integrity - The company has maintained a good integrity status, with no instances of failing to fulfill court judgments or significant debts that have not been repaid during the reporting period[126] - There were no significant lawsuits or arbitration matters during the reporting period, indicating a stable legal environment for the company[126] - The company has implemented a governance structure that includes a shareholders' meeting, board of directors, supervisory board, and management team to protect shareholder rights[156] Shareholder Structure and Management - The total number of ordinary shares increased from 510,000,000 to 514,224,500 shares due to the issuance of new shares and the repurchase of 6,000 shares[169] - The largest shareholder, Guotou High-Tech Investment Co., Ltd., holds 252,450,000 shares, which are subject to a 36-month lock-up period[181] - The company has no preferred shareholders with restored voting rights[175] - The company has implemented stock incentive plans, resulting in an increase of 470,000 shares for senior management[198] Environmental Impact and Sustainability - The company's fuel tank products have contributed to reducing hydrocarbon emissions from 1000 mg to 300 mg under the National V and Euro V standards, and further down to 20 mg under the National VI and LEV III standards[153] - With the implementation of National VI standards, the company's products are expected to reduce approximately 500 tons of hydrocarbon pollutants annually[153] - The fuel tank system can recover no less than 96% of gasoline vapor during refueling, contributing to cleaner emissions[153]

Financial Performance - Net profit attributable to shareholders was CNY 400,773,724.18, representing a year-on-year increase of 38.05%[18] - Basic earnings per share rose by 36.84% to CNY 0.78, driven by the increase in net profit attributable to shareholders[21] - Net profit excluding non-recurring gains and losses increased by 44.76% to CNY 405,513,379.50[18] - Total profit increased by RMB 132 million year-on-year, attributed to product structure optimization and a decrease in raw material costs[37] - Net profit for Q3 2020 reached approximately ¥206.44 million, compared to ¥137.90 million in Q3 2019, reflecting an increase of 49.73%[62] - The total comprehensive income for Q3 2020 was ¥157,231,686.00, compared to ¥145,302,863.22 in Q3 2019, reflecting an increase of 6.4%[66] - The total comprehensive income for the first nine months of 2020 was ¥341,488,483.49, compared to ¥310,617,714.89 in the same period of 2019, showing an increase of 9.9%[66] Revenue and Costs - Revenue for the first nine months was CNY 6,166,038,565.32, a slight decrease of 0.06% compared to the same period last year[18] - Total operating revenue for Q3 2020 was approximately ¥2.40 billion, a slight increase from ¥2.34 billion in Q3 2019, representing a growth of 2.67%[58] - Total operating costs for Q3 2020 were approximately ¥2.15 billion, down from ¥2.16 billion in Q3 2019, indicating a decrease of 0.40%[58] - The operating cost for Q3 2020 was ¥1,033,585,480.98, a decrease of 7.6% from ¥1,118,789,800.50 in Q3 2019[68] - The company’s sales expenses decreased by 66.34% year-on-year, mainly due to the reclassification of transportation costs to operating costs under new revenue standards[34] - The company reported a decrease in sales expenses from approximately ¥48.04 million in Q3 2019 to ¥13.51 million in Q3 2020, a significant reduction of 71.88%[58] Cash Flow and Liquidity - Operating cash flow for the period increased by 135.61% year-on-year, totaling CNY 1,450,982,760.60, primarily due to an increase in bank acceptance bills[21] - The cash flow from operating activities for the first nine months of 2020 was ¥6,030,527,375.97, an increase from ¥5,320,130,271.01 in the same period of 2019[73] - The net cash flow from operating activities was CNY 1,450,982,760.60, a significant increase from CNY 615,846,237.26 in the previous period, representing a growth of approximately 135.3%[77] - Total cash inflow from operating activities reached CNY 6,093,187,415.31, compared to CNY 5,340,996,753.57, indicating an increase of about 14.1%[77] - Cash outflow from operating activities decreased to CNY 4,642,204,654.71 from CNY 4,725,150,516.31, reflecting a reduction of approximately 1.8%[77] - The ending balance of cash and cash equivalents increased to CNY 1,226,421,472.93 from CNY 684,842,221.17, marking a growth of approximately 79.2%[79] Assets and Liabilities - Total assets at the end of the reporting period were CNY 6,394,392,434.53, a decrease of 6.09% compared to the end of the previous year[18] - The company’s total liabilities decreased by 56.12% for non-current liabilities due within one year[33] - Total liabilities decreased from ¥3,468,124,623.89 to ¥3,011,144,947.19, a reduction of about 13.2%[49] - Total assets decreased from ¥6,809,287,435.24 to ¥6,394,392,434.53, a decline of approximately 6.09%[49] - Non-current assets decreased from ¥2,584,335,317.45 to ¥2,324,386,221.81, a decline of about 10.05%[49] - Current liabilities decreased from ¥2,825,290,644.75 to ¥2,496,343,169.96, a reduction of approximately 11.63%[49] Shareholder Information - The total number of shareholders at the end of the reporting period was 18,317[25] - The largest shareholder, Guotou High-tech Investment Co., Ltd., held 49.09% of the shares[25] - Shareholders' equity increased from ¥3,341,162,811.35 to ¥3,383,247,487.34, an increase of approximately 1.25%[49] Investment Activities - The company reported a net cash outflow from investment activities of RMB 49.61 million, a decrease of 78.45% year-on-year[38] - The cash flow from investing activities showed a net outflow of CNY 49,611,615.48, an improvement from a net outflow of CNY 230,258,433.33 in the previous period[77] Financing Activities - Cash inflow from financing activities totaled CNY 307,064,543.21, down from CNY 475,000,000.00, representing a decline of about 35.4%[79] - The net cash flow from financing activities was negative at CNY -802,848,759.00, compared to CNY -297,718,319.36 in the previous period, indicating a worsening situation[79] - The total cash outflow for financing activities was CNY 1,109,913,302.21, compared to CNY 772,718,319.36, reflecting an increase of about 43.7%[79]

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 3,767,857,910.04, a decrease of 1.73% compared to the same period last year[26]. - The net profit attributable to shareholders of the listed company was CNY 205,576,007.96, an increase of 25.02% year-on-year[26]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 215,332,546.10, up 36.97% from the previous year[26]. - The net cash flow from operating activities reached CNY 797,428,028.72, representing a significant increase of 68.25% compared to the same period last year[26]. - Basic earnings per share for the first half of 2020 were CNY 0.40, reflecting a 25.00% increase year-on-year[26]. - The weighted average return on net assets was 6.20%, an increase of 0.94 percentage points compared to the same period last year[26]. - The company achieved operating revenue of RMB 3.768 billion, a year-on-year decrease of 1.73%, while total profit increased by 22.83% to RMB 258 million, and net profit attributable to shareholders rose by 25.02% to RMB 206 million[44]. - The company's net profit for the first half of 2020 was CNY 286,506,795.20, compared to CNY 201,984,612.12 in the same period of 2019, reflecting an increase of approximately 41.83%[133]. Cash Flow and Investments - The company reported a significant increase in net cash flow from operating activities, amounting to RMB 797 million, a year-on-year increase of 68.25%[48]. - Cash and cash equivalents at the end of the period increased by CNY 444 million compared to the same period last year, mainly due to the recovery of funds from bank acceptance bills[51]. - The company reported a decrease in investment cash flow outflow by 88.55% to RMB 20.59 million, mainly due to reduced fixed asset investments[48]. - The company reported a net increase in cash and cash equivalents of CNY 445,476,376.72, a substantial rise from CNY 66,795,736.42 in the first half of 2019[148]. - The company’s total cash inflow from investment activities was CNY 20,778,459.73, down from CNY 131,220,964.14 in the first half of 2019, indicating a decline of 84.2%[148]. Market and Industry Trends - The automotive market in China showed signs of recovery with a GDP growth of 3.2% in Q2 2020, following a significant decline in Q1 due to the pandemic[34]. - The domestic automotive market saw a total production and sales of over 10 million vehicles in the first half of 2020, despite a year-on-year decline of 16.8% and 16.9% respectively[35]. - The commercial vehicle market outperformed the passenger vehicle market, with commercial vehicle production and sales increasing by 9.5% and 8.6% year-on-year[35]. - In the first half of 2020, global automotive sales dropped to approximately 32.15 million units, a year-on-year decline of about 27.7%[38]. - China's automotive sales, despite a year-on-year decline, remained the highest globally, with a GDP growth of 3.2% in Q2 2020, making it the only major economy expected to achieve positive growth in 2020[38]. Research and Development - The company emphasized continuous investment in technology innovation, with new technologies like YNTF® and pressure fuel systems gradually entering the market[35]. - The company is actively developing new technologies, including hydrogen fuel supply systems and methanol fuel supply systems, to align with the trends of diversification and electrification in automotive power[44]. - The company has developed a technical roadmap focusing on traditional fuel systems, alternative fuel storage systems, and fuel cell hydrogen storage systems, ensuring continued innovation despite the pandemic[38]. - Research and development expenses decreased by 15.87% to RMB 102 million, primarily due to reduced project debugging costs amid the pandemic[48]. Risk Management - The company has detailed the potential risks it may face in the report[9]. - The company faced risks including global economic downturn, trade tensions, and increased competition, which may impact the automotive industry[57]. - The company is enhancing its supply chain resilience by strengthening cooperation with domestic strategic suppliers to mitigate risks associated with global supply chain disruptions[44]. Shareholder and Governance - The company did not formulate a profit distribution plan for the reporting period[7]. - The company did not propose a profit distribution or capital reserve increase plan during the reporting period[63]. - The company held two shareholder meetings in 2020, with resolutions passed on all agenda items[62]. - The company has a lock-up period of 36 months for shares held by major shareholders, including Guotou High-Tech and Huayu Automotive, starting from the date of listing[68]. - The company will take effective measures to prevent any competitive activities from its controlling shareholders and their invested enterprises[71]. Compliance and Regulations - The company has completed the application for pollution discharge permits and complies with environmental regulations, with no environmental pollution incidents reported[95]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring compliance and transparency in financial reporting[184]. - The company has not disclosed any significant changes in accounting policies or estimates during the reporting period[96]. Financial Position - The total assets at the end of the reporting period were CNY 6,503,295,922.03, a decrease of 4.49% from the end of the previous year[26]. - The net assets attributable to shareholders of the listed company were CNY 3,127,617,013.66, down 3.57% from the previous year[26]. - The total liabilities decreased to CNY 1,851,096,065.81 from CNY 1,851,781,362.36, showing a marginal reduction of approximately 0.04%[133]. - The company's equity attributable to shareholders was CNY 3,210,886,945.33, down from CNY 3,273,430,299.47, indicating a decrease of about 1.91%[133].

Financial Performance - Net profit attributable to shareholders increased by 25.62% to CNY 79,170,690.81 year-on-year[12] - Operating cash flow increased significantly by 349.61% to CNY 487,536,191.19 compared to the same period last year[12] - Basic earnings per share rose by 25.00% to CNY 0.15 compared to the same period last year[12] - The net profit after deducting non-recurring gains and losses increased by 27.69% to CNY 75,675,201.05 year-on-year[12] - Net profit for Q1 2020 reached CNY 84,953,575.63, an increase of 27.8% compared to CNY 66,488,187.12 in Q1 2019[51] - The total profit for Q1 2020 was approximately ¥35.92 million, a decrease of 12.9% compared to ¥41.27 million in Q1 2019[53] Revenue and Costs - Revenue for the quarter was CNY 1,693,006,221.29, a decrease of 3.45% year-on-year[12] - Total operating revenue for Q1 2020 was CNY 1,693,006,221.29, a decrease of 3.43% compared to CNY 1,753,424,508.41 in Q1 2019[49] - Total operating costs for Q1 2020 were CNY 1,593,904,194.43, down 5.27% from CNY 1,682,424,039.16 in Q1 2019[49] Assets and Liabilities - Total assets decreased by 9.00% to CNY 6,196,614,292.63 compared to the end of the previous year[12] - Total liabilities decreased from 3,468,124,623.89 to 2,866,721,289.20, a reduction of approximately 17.3%[39] - Current liabilities decreased from 2,825,290,644.75 to 2,356,637,325.08, a decrease of about 16.6%[39] - Non-current liabilities decreased from 642,833,979.14 to 510,083,964.12, a decline of approximately 20.6%[39] - Total equity attributable to shareholders decreased from 3,243,245,637.88 to 3,226,192,945.14, a slight decrease of about 0.5%[39] Cash Flow - Cash and cash equivalents increased by 213 million RMB, primarily due to the recovery of payments and the maturity of bank acceptance bills[22] - Net cash inflow from operating activities was 488 million RMB, an increase of 379 million RMB year-on-year, mainly due to the recovery of funds from matured bank acceptance bills[26] - Cash flow from operating activities for Q1 2020 was CNY 404,721,632.86, a significant increase from CNY 35,233,862.55 in Q1 2019, representing a growth of approximately 1,149%[61] - The net increase in cash and cash equivalents for Q1 2020 was CNY 187,354,365.67, contrasting with a decrease of CNY 97,703,549.49 in Q1 2019[63] Shareholder Information - The total number of shareholders at the end of the reporting period was 19,101[18] - The largest shareholder, Guotou High-tech Investment Co., Ltd., holds 49.09% of the shares[18] Government Support - The company received government subsidies amounting to CNY 6,034,464.82 during the quarter[15] - Other income increased by 1.7 million RMB year-on-year, primarily due to an increase in government subsidies received[26] Financial Management - Financial expenses decreased by 17.85 million RMB year-on-year, primarily due to exchange rate effects, with a net exchange gain of 15.31 million RMB this period[26] - The company reported a financial income of CNY -4,657,456.32 in Q1 2020, compared to CNY 13,193,710.01 in Q1 2019, indicating a significant improvement in financial management[49] Inventory and Receivables - Accounts receivable decreased from 810,127,653.09 to 508,699,543.28, a decrease of about 37.2%[42] - Inventory decreased from 593,117,735.14 to 501,668,246.07, a reduction of approximately 15.4%[42] Research and Development - Research and development expenses for Q1 2020 were CNY 40,415,010.01, down from CNY 52,548,966.08 in Q1 2019, reflecting a reduction of 23.06%[49] - R&D expenses in Q1 2020 were approximately ¥41.45 million, a decrease of 19.1% from ¥51.28 million in Q1 2019[53] Changes in Accounting Standards - The company has implemented new revenue recognition standards, impacting the reporting of contract liabilities[75]

Financial Performance - Net profit attributable to shareholders increased by 25.62% to CNY 79,170,690.81 compared to the same period last year[12] - Operating income decreased by 3.45% to CNY 1,693,006,221.29 compared to the same period last year[12] - Basic earnings per share rose by 25.00% to CNY 0.15 compared to the same period last year[12] - The weighted average return on net assets increased by 0.39 percentage points to 2.45% compared to the same period last year[12] - Net profit for Q1 2020 reached ¥84,953,575.63, an increase of 27.8% compared to ¥66,488,187.12 in Q1 2019[47] - The company reported a profit before tax of ¥95,154,622.09, up from ¥75,838,149.97 in Q1 2019[47] - The net profit for Q1 2020 was approximately ¥30.48 million, down from ¥34.92 million in Q1 2019, representing a decline of 12.5%[51] - The total comprehensive income for Q1 2020 was approximately ¥30.48 million, compared to ¥34.92 million in Q1 2019[51] Cash Flow - Net cash flow from operating activities increased significantly by 349.61% to CNY 487,536,191.19 compared to the same period last year[12] - Net cash inflow from operating activities was CNY 488 million, an increase of CNY 379 million year-on-year, mainly due to the recovery of funds from bank acceptance bills[27] - The cash inflow from operating activities totaled approximately ¥2.26 billion in Q1 2020, compared to ¥1.67 billion in Q1 2019, an increase of 35.2%[54] - Operating cash flow net amount for Q1 2020 was CNY 404,721,632.86, a significant increase from CNY 35,233,862.55 in Q1 2019, representing a growth of approximately 1,149%[56] - Cash inflow from operating activities totaled CNY 1,271,319,644.10 in Q1 2020, up from CNY 863,975,922.33 in Q1 2019, reflecting a growth of approximately 47%[56] Assets and Liabilities - Total assets decreased by 9.00% to CNY 6,196,614,292.63 compared to the end of the previous year[12] - Total liabilities decreased from 3,468,124,623.89 to 2,866,721,289.20, a reduction of approximately 17.3%[36] - Current liabilities decreased from 2,825,290,644.75 to 2,356,637,325.08, a decline of about 16.6%[36] - Long-term borrowings decreased from 516,238,800.00 to 375,510,300.00, representing a decrease of approximately 27.2%[36] - Total equity attributable to shareholders decreased from 3,243,245,637.88 to 3,226,192,945.14, a decline of approximately 0.5%[38] - The total assets as of Q1 2020 amounted to CNY 6,809,287,435.24, remaining stable compared to the previous year[60] - Total liabilities amounted to approximately $3.47 billion, with current liabilities at $2.83 billion and non-current liabilities at $642.83 million[64] Shareholder Information - The total number of shareholders reached 19,101 at the end of the reporting period[18] - The largest shareholder, Guotou High-tech Investment Co., Ltd., holds 49.09% of the shares[18] Expenses - Sales expenses decreased by CNY 20.16 million year-on-year, mainly due to the reclassification of product transportation costs to operating costs[22] - Financial expenses decreased by CNY 17.85 million year-on-year, primarily due to exchange rate effects, with a net exchange gain of CNY 15.31 million this period[22] - Research and development expenses for Q1 2020 were ¥40,415,010.01, a decrease of 23.06% from ¥52,548,966.08 in Q1 2019[47] - The company recorded a financial expense of approximately ¥3.91 million in Q1 2020, down from ¥5.21 million in Q1 2019, a decrease of 25.0%[49] Government Subsidies and Other Income - The company reported a government subsidy of CNY 6,034,464.82 recognized in the current period[14] - Other income increased by CNY 1.7 million year-on-year, primarily due to an increase in government subsidies received[22] Inventory and Receivables - Accounts receivable decreased by CNY 242 million, mainly due to the maturity of bank acceptance bills and endorsement transfers to suppliers[22] - Inventory decreased from 593,117,735.14 to 501,668,246.07, a reduction of about 15.4%[38]

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 | --- | --- | --- | --- | |-------------------------------------------------|----------------- ...