2021 年第三季度报告 证券代码：603037 证券简称：凯众股份 上海凯众材料科技股份有限公司 2021 年第三季度报告 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： 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、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人杨建刚、主管会计工作负责人黄海及会计机构负责人（会计主管人员）朱晨怡保 证季度报告中财务报表信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比 上年同期增 | | 年初至报告期 末比上年同期 | | --- | --- | --- | --- | --- | | | | | 年初至报告期末 | | | | | 减变动幅度 | | 增减变动幅度 | | | | (%) | | (%) | | 营业收入 | 125,046,979.64 | -2.46 | ...

Financial Performance - The company's operating revenue for the first half of 2021 was approximately CNY 251.20 million, representing a 23.70% increase compared to CNY 203.07 million in the same period last year[18]. - The net profit attributable to shareholders for the first half of 2021 was approximately CNY 43.56 million, an increase of 68.09% from CNY 25.92 million in the previous year[18]. - The basic earnings per share for the first half of 2021 was CNY 0.42, reflecting a 75.00% increase compared to CNY 0.24 in the same period last year[18]. - The weighted average return on net assets increased to 4.89% from 3.13%, an increase of 1.76 percentage points[18]. - The net profit after deducting non-recurring gains and losses was approximately CNY 40.37 million, an increase of 86.13% from CNY 21.69 million in the same period last year[18]. - The company achieved a net cash flow from operating activities of approximately ¥27.07 million, a decrease of 50.39% from ¥54.56 million in the previous year[51]. - The company reported a significant increase in R&D expenses, totaling approximately ¥20.83 million, which is a 52.57% increase from ¥13.65 million in the previous year[51]. - The company reported a comprehensive income total of ¥44,339,432.00 for the first half of 2021, compared to ¥26,220,554.63 in the previous year, reflecting a growth of 68.9%[112]. Assets and Liabilities - The total assets at the end of the reporting period were approximately CNY 985.95 million, a 2.36% increase from CNY 963.25 million at the end of the previous year[18]. - The net assets attributable to shareholders increased by 5.00% to approximately CNY 912.34 million from CNY 868.86 million at the end of the previous year[18]. - The company's cash and cash equivalents decreased by 52% to approximately ¥161.04 million, down from ¥332.95 million in the previous year[53]. - Total liabilities decreased to RMB 72,062,581.06 from RMB 93,699,344.41, a reduction of about 23.2%[104]. - The total equity attributable to the parent company at the end of the reporting period was 913,887,034.87, an increase from 847,009,751.34 in the previous year, reflecting a growth of approximately 7.9%[126]. Market and Industry - The company operates in the automotive parts manufacturing industry, focusing on the development, production, and sales of chassis suspension system damping components and lightweight pedal assemblies for traditional, new energy, and intelligent driving vehicles[22]. - The company is a supplier to international automotive giants such as Porsche, Volkswagen, and Ford, indicating a strong presence in the global market[23]. - In the first half of 2021, domestic passenger car production and sales reached 9.653 million and 9.83 million units, respectively, representing year-on-year growth of 27.8% and 27.7%[34]. - The production of new energy passenger vehicles reached 1.08 million units in the first half of 2021, showing a significant year-on-year increase of 233.5% compared to 2020[34]. - The company’s damping components are widely used in both traditional and new energy vehicles, indicating a diverse product application[23]. Strategic Partnerships and Projects - The company has established strategic partnerships with major domestic automakers, including SAIC Volkswagen, FAW-Volkswagen, and Honda, covering a wide range of clients[22]. - The company’s lightweight pedal business gained significant projects from major automakers, including SAIC Motor and Geely, and achieved breakthroughs with Volkswagen and NIO[43]. - The company secured new projects valued at approximately 236 million yuan in the first half of 2021, with new products generating revenue of 19.3 million yuan[43]. Risks and Challenges - The company has indicated potential risks that may adversely affect future development and operational goals, as detailed in the management discussion and analysis section[7]. - The company is exposed to macroeconomic risks that may impact its operations[63]. - The company faces potential impacts on macroeconomic conditions and automotive consumption due to the ongoing risk of COVID-19 resurgence, which may affect expected sales volumes[64]. - The automotive industry is experiencing a downward trend with intensified market competition, which may lead to price reductions among vehicle manufacturers and significant losses for some, ultimately impacting component suppliers[64]. Environmental and Social Responsibility - The company has established a comprehensive environmental protection system to manage pollutants generated during production, including waste gas, noise, and solid waste[73]. - The company has implemented pollution prevention measures, including the construction of waste gas treatment facilities, effectively reducing VOC emissions[76]. - The company aims to enhance green energy usage and has initiated projects such as solar power generation and low-energy consumption equipment to meet carbon peak and carbon neutrality goals[76]. Shareholder Information - The company has implemented a long-term employee stock ownership plan, with a total of 255,000 shares purchased, representing approximately 0.24% of the total share capital, at an average price of 16.66 RMB per share[70]. - The company distributed CNY 57,695,742.50 to shareholders during the reporting period, indicating a focus on returning value to investors[130]. - The total number of ordinary shareholders at the end of the reporting period was 9,431[91]. Research and Development - The company’s R&D team consists of experienced experts and young talents, focusing on multiple areas including material development and engineering[35]. - The company has applied for and received acceptance for 5 patents during the reporting period, bringing the total number of accepted patents to 129, with 88 patents granted[45]. - The company is investing in new technology development to improve operational efficiency and product quality[126].

Financial Performance - Net profit attributable to shareholders increased by 123.85% to CNY 22,020,762.39 year-on-year[6] - Operating revenue rose by 48.55% to CNY 128,834,911.34 compared to the same period last year[6] - Basic earnings per share increased by 110.00% to CNY 0.21[6] - The company's revenue for Q1 2021 was ¥128,834,911.34, representing a 48.55% increase compared to ¥86,726,266.52 in Q1 2020, primarily due to the impact of the pandemic in the previous year[14] - The company's net profit for Q1 2021 is expected to show significant improvement compared to the same period last year, with no major losses anticipated[15] - Net profit for Q1 2021 was ¥22,261,612.34, representing a 131.1% increase compared to ¥9,631,707.40 in Q1 2020[24] - The total comprehensive income for Q1 2021 was ¥22,320,703.56, significantly higher than ¥9,676,600.21 in Q1 2020[25] Assets and Liabilities - Total assets increased by 1.60% to CNY 978,615,161.51 compared to the end of the previous year[6] - The total assets as of March 31, 2021, amounted to ¥978,615,161.51, up from ¥963,246,947.28 at the end of 2020[20] - The company's total assets as of March 31, 2021, amounted to ¥980,065,910.74, an increase from ¥944,967,191.33 at the end of 2020[22] - The total liabilities decreased to ¥86,746,855.08 from ¥93,699,344.41, indicating improved financial stability[19] - The company's total liabilities increased to ¥104,343,119.49 from ¥90,066,896.16 in the previous year[22] - Total liabilities increased to ¥93,699,344.41 in Q1 2021 from ¥96,370,813.00 in Q1 2020[38] Cash Flow - Net cash flow from operating activities decreased by 75.92% to CNY 8,760,081.75 compared to the previous year[6] - The company's cash flow from operating activities saw an increase in tax payments by 36.74% to ¥6,556,453.63 from ¥4,794,872.22 due to higher revenue[14] - The company reported a net cash flow from operating activities of ¥8,760,081.75, down 76.0% from ¥36,376,014.50 in Q1 2020[30] - In Q1 2021, the net cash flow from operating activities was ¥4,752,874.06, a decrease of 86.8% compared to ¥35,794,856.52 in Q1 2020[33] - Total cash inflow from operating activities was ¥99,786,421.43, down 26.7% from ¥136,275,800.84 in the same period last year[33] - The net cash flow from investing activities was -¥169,160,642.43, significantly worse than -¥6,824,210.32 in Q1 2020[34] Expenses - Operating costs for Q1 2021 were ¥103,869,075.41, up 33.9% from ¥77,514,954.55 in Q1 2020[23] - The company reported a significant increase in sales expenses by 91.41% to ¥2,876,573.68 from ¥1,502,833.36, reflecting increased marketing efforts[14] - R&D expenses rose by 50.27% to ¥9,119,591.91 from ¥6,068,898.80, reflecting increased investment in innovation[14] - Research and development expenses for Q1 2021 were ¥9,119,591.91, compared to ¥6,068,898.80 in Q1 2020, indicating a 50.4% increase[24] - The company incurred a total operating cost of ¥100,043,824.76 in Q1 2021, which is a 33.2% increase from ¥75,086,615.25 in Q1 2020[26] Equity - The total equity attributable to shareholders increased to ¥890,944,310.40 from ¥868,864,456.79, indicating a positive trend in shareholder value[19] - The total equity of the company as of March 31, 2021, was ¥875,722,791.25, up from ¥854,900,295.17 at the end of 2020[23] - The company's total equity was ¥869,547,602.87, remaining stable compared to ¥868,864,456.79 in the previous year[39] Cash Management - Cash and cash equivalents decreased by 48.17% to CNY 172,573,170.26 due to timing differences in cash management[13] - The company's cash and cash equivalents decreased to ¥153,706,086.83 from ¥317,924,566.78 at the end of 2020[22] - Cash and cash equivalents at the end of Q1 2021 were ¥153,706,086.83, down from ¥283,652,044.34 at the end of Q1 2020[34] - The cash flow impact from foreign exchange fluctuations was ¥189,288.42, down from ¥788,941.21 in Q1 2020[34] Accounting Standards - The company implemented a new lease accounting standard, resulting in an adjustment of $2,671,468.59 to both assets and liabilities[44] - The company remains focused on maintaining its asset base while adhering to new accounting standards to enhance transparency[44] General Observations - The first quarter report indicates a stable financial position, with no significant changes in operational strategy or market expansion plans disclosed[45] - The company reported a significant increase in cash reserves, indicating strong liquidity and financial health[41]

Financial Performance - The company achieved a net profit of ¥85,163,496.64 for the year 2020, before the allocation of the incentive fund, meeting the annual profit target set by the board[12]. - After allocating 5% of the net profit as an incentive fund, the adjusted net profit for 2020 was ¥81,544,196.64[12]. - The company's operating revenue for 2020 was approximately ¥494.40 million, a slight increase of 0.14% compared to ¥493.69 million in 2019[27]. - The net profit attributable to shareholders for 2020 was approximately ¥82.72 million, reflecting a growth of 2.08% from ¥81.03 million in 2019[27]. - The net profit after deducting non-recurring gains and losses decreased by 5.49% to approximately ¥67.63 million in 2020 from ¥71.55 million in 2019[27]. - The net cash flow from operating activities significantly increased by 79.16% to approximately ¥185.05 million in 2020, compared to ¥103.29 million in 2019[27]. - The total assets at the end of 2020 were approximately ¥963.25 million, representing a 2.38% increase from ¥940.83 million at the end of 2019[27]. - The basic earnings per share for 2020 was ¥0.78, a 1.30% increase from ¥0.77 in 2019[28]. - The weighted average return on equity for 2020 was 9.63%, a slight decrease of 0.02 percentage points from 9.65% in 2019[28]. Dividend and Share Capital - The company proposed a cash dividend of ¥6.0 per 10 shares, based on a total share capital of 104,901,350 shares, with undistributed profits amounting to ¥259,819,728.51 as of December 31, 2020[5]. - The company completed the cancellation of 922,350 restricted shares, reducing the total share capital from 105,823,700 shares to 104,901,350 shares[10]. - The company achieved a cash dividend of 62.94 million yuan for 2020, representing 76.09% of the net profit attributable to ordinary shareholders[136]. - The total number of ordinary shares decreased from 105,823,700 to 104,901,350 due to the repurchase and cancellation of 922,350 shares[144]. Operational Efficiency and Market Position - The company maintained a strong market position in the automotive parts manufacturing industry, particularly in the suspension system components for traditional and new energy vehicles[35]. - The company reported a significant increase in cash flow from operating activities, indicating improved operational efficiency and financial health[27]. - The company employs a "sales-driven production" model to minimize resource use and enhance inventory turnover, ensuring efficient production processes[45]. - The company maintains stable pricing for aftermarket customers, with price adjustments only occurring in response to significant changes in raw material costs or exchange rates[48]. Research and Development - The company is focused on the research and development of high-performance polyurethane products, enhancing its competitive advantage in both domestic and international markets[35]. - The company applied for and received acceptance for 32 patents during the reporting period, bringing the total number of accepted patents to 124, with 79 patents granted[51]. - The company’s R&D team focuses on material development, engineering, product design, and new technology development, maintaining a leading position in product performance and manufacturing technology[50]. - The company invested CNY 63.4 million in the R&D center, which is expected to enhance product design capabilities and accelerate product updates[66]. Strategic Partnerships and Market Expansion - The company has established strategic partnerships with major domestic automakers, covering a wide range of clients including SAIC Volkswagen, FAW Volkswagen, and Geely, among others[36]. - The company has developed a significant international market presence, supplying components to renowned global automakers such as Porsche, GM, and Ford[36]. - The company is actively engaging with major domestic OEMs for potential opportunities in electric control system products, anticipating more project approvals in 2021[62]. Risks and Compliance - The company has described significant risks that may adversely affect future development and operational goals in the report[7]. - The company faces macroeconomic risks due to potential COVID-19 outbreaks, which could impact automotive consumption and sales expectations[109]. - Exchange rate fluctuations may affect the company's export pricing and import costs, impacting overall sales revenue[109]. - The company has committed to not reducing shareholdings within a specified period, ensuring stability for shareholders[114]. Management and Governance - The company has established a mechanism to share interests between shareholders and core employees to ensure long-term development[127]. - The company has a three-year shareholder return plan (2020-2022) approved by the board, focusing on profit distribution[111]. - The company has seen changes in its senior management team, with new appointments and resignations impacting operations[162]. - The total remuneration for all directors, supervisors, and senior management during the reporting period amounted to 8.2254 million yuan[165]. Audit and Internal Control - The company’s financial report has been audited by Zhonghua Accounting Firm, which issued a standard unqualified audit opinion[4]. - The internal control audit report issued by Zhonghua Accounting Firm provided a standard unqualified opinion[179]. - The company has disclosed its internal control self-assessment report for the year 2020, indicating no significant deficiencies[178]. - The audit report confirms that the financial statements fairly present the company's financial position and operating results for the year ended December 31, 2020[182].

Financial Performance - Net profit attributable to shareholders was CNY 49,482,503.88, representing a decline of 33% year-on-year[7]. - Operating revenue for the period was CNY 331,267,891.02, down 11% from the same period last year[7]. - Basic earnings per share decreased by 33% to CNY 0.47[7]. - Total profit for the first three quarters of 2020 was ¥57,745,331.50, a decrease of 30.12% compared to ¥82,639,962.91 in the same period of 2019, mainly due to a decline in revenue[11]. - The company's net profit for the first three quarters is projected to show significant changes compared to the previous year, with potential losses indicated[12]. - Total comprehensive income for the first three quarters of 2020 reached CNY 51,371,181.09, compared to CNY 83,853,973.23 in the same period of 2019, indicating a decline[31]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 904,321,266.89, a decrease of 4% compared to the end of the previous year[7]. - The total assets as of September 30, 2020, were ¥904,321,266.89, down from ¥940,826,470.42 at the end of 2019[13]. - The company's total assets as of September 30, 2020, were CNY 910,278,682.09, down from CNY 995,807,168.85 at the end of 2019[20]. - Total liabilities decreased to ¥65,684,675.62 from ¥93,816,719.08, reflecting a reduction in current liabilities[16]. - Total liabilities decreased to CNY 79,667,851.50 from CNY 158,871,776.85 year-over-year[21]. - Shareholders' equity totaled CNY 830,610,830.59, a slight decrease from CNY 836,935,392.00 at the end of 2019[21]. Cash Flow - The net cash flow from operating activities increased by 39% to CNY 120,791,816.22 compared to the previous year[7]. - The company's cash flow from operating activities decreased by 30.85% to ¥9,356,969.24 from ¥13,532,354.13 year-on-year, mainly due to timing differences in subsidy income received[12]. - Cash flow from operating activities for the first three quarters of 2020 was CNY 125,882,513.88, an increase of 47.3% from CNY 85,383,591.50 in the same period of 2019[37]. - The company reported a decrease in cash received from sales of goods and services, totaling CNY 394,195,861.64 in the first three quarters of 2020, compared to CNY 430,291,568.24 in the same period of 2019[33]. - The company incurred a total of CNY 282,786,504.71 in cash outflows from operating activities in the first three quarters of 2020, a decrease from CNY 357,689,635.68 in the same period of 2019[33]. Revenue and Costs - Total revenue for the first three quarters of 2020 was CNY 331,267,891.02, a decrease of 11.2% from CNY 372,955,206.41 in the same period of 2019[23]. - Total operating costs for Q3 2020 were CNY 105,270,246.78, slightly up from CNY 104,071,470.08 in Q3 2019[23]. - Operating costs decreased to ¥90.61 million in Q3 2020 from ¥93.97 million in Q3 2019, a reduction of 3.0%[28]. Shareholder Information - The total number of shareholders at the end of the reporting period was 10,909[10]. - The largest shareholder, Yang Yingtao, holds 21.07% of the shares, totaling 22,097,891 shares[10]. Research and Development - R&D expenses for Q3 2020 were CNY 10,112,679.16, an increase of 37.3% compared to CNY 7,367,981.65 in Q3 2019[24]. - R&D expenses in Q3 2020 were ¥8.40 million, a 52.5% increase from ¥5.50 million in Q3 2019[28]. Government Support - The company received government subsidies amounting to CNY 4,032,008.00 during the reporting period[8]. Investment Activities - Cash inflow from investment activities in the first three quarters of 2020 was CNY 70,575,191.78, down from CNY 133,404,855.41 in the same period of 2019[37]. - The net cash flow from investment activities for the first three quarters of 2020 was CNY -169,073,812.24, compared to CNY 80,321,963.85 in the same period of 2019, indicating a significant decline[37]. Financial Expenses - The company reported a decrease in financial expenses, with a net financial cost of -¥117,573.28 in Q3 2020 compared to -¥1.80 million in Q3 2019[28]. Future Outlook - The company plans to continue expanding its market presence and investing in new technologies[27].

Financial Performance - The company's operating revenue for the first half of 2020 was ¥203,073,222.80, a decrease of 21.96% compared to ¥260,211,477.99 in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2020 was ¥25,915,599.71, down 57.05% from ¥60,342,243.42 in the previous year[20]. - The basic earnings per share for the first half of 2020 was ¥0.24, a decline of 57.89% compared to ¥0.57 in the same period last year[21]. - The weighted average return on net assets decreased to 3.13% from 6.98% in the previous year, a reduction of 3.85 percentage points[21]. - The total comprehensive income for the first half of 2020 was ¥26,220,554.63, a decline of 57% from ¥60,680,157.88 in the same period of 2019[127]. - The company reported a total profit of ¥30,509,317.96 for the first half of 2020, down 55% from ¥67,942,292.06 in the previous year[126]. - The company reported a net loss of CNY 79,921,467.02 in profit distribution, indicating a challenging financial environment[146]. Cash Flow and Assets - The net cash flow from operating activities for the first half of 2020 was ¥54,555,868.57, a slight decrease of 1.36% from ¥55,307,540.47 in the same period last year[20]. - Cash and cash equivalents decreased to ¥243,889,618.22 from ¥283,384,676.76[115]. - The total current assets as of June 30, 2020, amount to ¥647,151,659.42, a decrease from ¥662,353,525.85 at the end of 2019[115]. - The company reported a decrease in sales revenue from CNY 285,932,924.18 in the first half of 2019 to CNY 247,321,627.85 in the first half of 2020, reflecting a decline of approximately 13.5%[133]. - The total assets at the end of the reporting period were ¥946,849,241.87, an increase of 0.64% compared to ¥940,826,470.42 at the end of the previous year[20]. Market Position and Strategy - The company has established strategic partnerships with major domestic automotive manufacturers, including SAIC Volkswagen and Ford, enhancing its market presence[26]. - The company is actively expanding its international customer base, including partnerships with renowned automotive brands such as Porsche and GM[27]. - The company holds a second-place market share in the domestic market for polyurethane damping components, with significant brand recognition internationally[26]. - The company is focusing on developing high-performance polyurethane wheels for logistics and automation industries, indicating potential growth in non-automotive sectors[28]. - The company plans to establish a production base in Jiangsu Nantong Su Tong Technology Industrial Park with an investment of RMB 19.88 million for 51,776.49 square meters of land[68]. Research and Development - Research and development expenses increased by 5.28% to CNY 13.65 million compared to the previous year[65]. - The company has applied for and received acceptance for 8 patents during the reporting period, bringing the total number of accepted patents to 100, with 70 patents granted, including 18 invention patents related to material technology[42]. - The company invested CNY 50.37 million in the construction of its R&D center, which is expected to be completed by the end of 2020[58]. - The company completed various performance tests for its first electric control system project, with mass production expected in Q1 2021[52]. Risks and Challenges - The company faces macroeconomic risks due to the COVID-19 pandemic, which has disrupted normal operations and reduced consumer spending, potentially impacting global automotive sales[77]. - Exchange rate fluctuations pose a risk, as changes in the RMB, Euro, and USD could affect export prices and import costs, impacting sales and profit margins[77]. - The automotive industry is experiencing increased competition and downward pressure, which may lead to price reductions and significant losses for some manufacturers, affecting component suppliers[77]. - The company has described significant risks that may adversely affect its future development and operational goals in the report[6]. Compliance and Governance - The company continues to appoint Zhonghua Certified Public Accountants as the auditing firm for the 2020 fiscal year, with audit fees to be determined based on specific requirements and scope[86]. - There were no significant litigation or arbitration matters during the reporting period[87]. - The company has not faced any administrative penalties or other sanctions related to the securities market for its major shareholders and actual controllers during the reporting period[87]. - The company is focused on compliance with legal regulations and stock exchange rules regarding share transactions[83]. Future Outlook - The company provided a positive outlook for the second half of 2020, projecting a revenue growth of 10% to 15%[171]. - New product launches are expected to contribute an additional 200 million RMB in revenue by Q4 2020[171]. - The company is considering strategic acquisitions to bolster its technology capabilities, with potential targets identified in the fintech sector[171]. - The company plans to optimize its supply chain, which is expected to reduce operational costs by 5%[171].

Financial Performance - Operating revenue fell by 37.40% to CNY 86,726,266.52 year-on-year[5] - Net profit attributable to shareholders decreased by 75.58% to CNY 9,837,438.94 compared to the same period last year[5] - Basic earnings per share dropped by 73.68% to CNY 0.10[5] - The company's operating revenue for Q1 2020 was ¥86,726,266.52, a decrease of 37.4% compared to ¥138,538,479.29 in Q1 2019, primarily due to the impact of the pandemic[11] - Net profit attributable to shareholders for Q1 2020 was ¥9,837,438.94, down 75.6% from ¥40,284,484.32 in Q1 2019, reflecting the decline in revenue[11] - Operating profit for Q1 2020 was ¥10,429,311.97, down 76.4% from ¥44,069,514.25 in Q1 2019[22] - Net profit for Q1 2020 was ¥9,631,707.40, a decline of 76.2% compared to ¥40,457,816.66 in Q1 2019[22] - Total operating profit for Q1 2020 was CNY 17.51 million, a decrease of 38.8% from CNY 28.70 million in Q1 2019[25] Cash Flow and Liquidity - Net cash flow from operating activities increased by 97.84% to CNY 36,376,014.50 year-on-year[5] - Cash received from operating activities decreased by 44.4% to ¥2,208,771.61 in Q1 2020 from ¥3,975,744.07 in Q1 2019, attributed to a drop in subsidy income[11] - The company's cash and cash equivalents increased to ¥296,492,378.92 as of March 31, 2020, compared to ¥283,384,676.76 at the end of 2019[14] - Cash and cash equivalents increased to ¥283,652,044.34 in Q1 2020 from ¥253,892,456.93 at the end of 2019[19] - The net increase in cash and cash equivalents for the period was $29,759,587.41, bringing the ending balance to $283,652,044.34[32] - The beginning balance of cash and cash equivalents was $253,892,456.93, indicating a strong liquidity position[32] Assets and Liabilities - Total assets decreased by 0.84% to CNY 932,953,164.11 compared to the end of the previous year[5] - The total assets as of March 31, 2020, were ¥932,953,164.11, a slight decrease from ¥940,826,470.42 as of December 31, 2019[14] - Total liabilities decreased to ¥150,719,770.82 in Q1 2020 from ¥158,871,776.85 in Q4 2019[20] - Other non-current assets increased by 44.72% to CNY 70,782,969.59 due to increased investment in research and development projects[10] - Deferred income tax assets rose by 46.47% to CNY 4,012,734.39 due to timing differences in income tax[10] Shareholder Information - The total number of shareholders reached 10,319[9] - The largest shareholder, Yang Yingtao, holds 20.88% of the shares[9] - The company has no controlling shareholder or actual controller as of the report date, following the expiration of the concerted action agreement[12] Research and Development - Research and development expenses for Q1 2020 were ¥6,068,898.80, compared to ¥5,498,549.75 in Q1 2019, reflecting a 10.4% increase[21] - Research and development expenses increased to CNY 4.99 million, up 40.0% from CNY 3.56 million in Q1 2019[25] Other Financial Metrics - The company reported a total of CNY 1,035,305.26 in non-recurring gains and losses[8] - The company's financial expenses increased by 323.1% to -¥2,715,125.99 in Q1 2020, compared to -¥641,648.16 in Q1 2019, due to differences in cash management income and exchange rate fluctuations[11] - Other income for Q1 2020 was ¥1,218,000.00, down from ¥3,500,000.00 in Q1 2019[22] - Total cash inflow from operating activities was CNY 140.80 million, down 7.3% from CNY 151.92 million in Q1 2019[28] - Total cash outflow from operating activities was CNY 104.42 million, a decrease of 21.8% compared to CNY 133.53 million in Q1 2019[28] - Investment activities generated a net cash outflow of CNY 24.11 million in Q1 2020, compared to a net inflow of CNY 83.33 million in Q1 2019[29]

Financial Performance - The company's operating revenue for 2019 was CNY 493,692,451.63, a decrease of 10.07% compared to CNY 548,981,328.56 in 2018[20]. - The net profit attributable to shareholders for 2019 was CNY 81,033,061.74, down 36.18% from CNY 126,978,510.49 in 2018[20]. - The basic earnings per share for 2019 was CNY 0.77, a decline of 36.36% compared to CNY 1.21 in 2018[22]. - The cash flow from operating activities for 2019 was CNY 103,287,243.75, down 22.17% from CNY 132,714,626.04 in 2018[20]. - The weighted average return on equity for 2019 was 9.65%, a decrease of 6.19 percentage points from 15.84% in 2018[22]. - The company reported a net cash flow from investment activities of 70.86 million RMB, a significant improvement from a negative 214.45 million RMB in the previous year[66]. - The company reported a financial income of CNY 5,287,921.92 in 2019, compared to CNY 1,547,397.23 in 2018, marking a significant increase[196]. - The company reported a financial income of RMB 1,940,810.79 in 2019, down 51.3% from RMB 3,989,151.90 in 2018[199]. Assets and Liabilities - The total assets at the end of 2019 were CNY 940,826,470.42, a decrease of 2.31% from CNY 963,084,568.28 at the end of 2018[20]. - The company's net assets attributable to shareholders increased by 1.46% to CNY 845,152,266.59 at the end of 2019 from CNY 832,952,714.45 at the end of 2018[20]. - Total liabilities decreased to CNY 93,816,719.08 from CNY 128,006,739.42, a reduction of about 26.6%[191]. - The company's equity increased to CNY 847,009,751.34 from CNY 835,077,828.86, showing a growth of approximately 1.1%[191]. - The accounts receivable balance decreased from RMB 141,903,491.36 in 2018 to RMB 128,799,853.13 in 2019, reflecting a reduction of approximately 9.1%[188]. - The provision for bad debts on accounts receivable was assessed based on significant accounting estimates, highlighting the importance of credit risk evaluation[180]. Market and Sales - The company is a leading player in the domestic market for polyurethane components, holding the second-largest market share, and has a strong brand presence internationally[30]. - The company achieved a market share of approximately 31.7% in the domestic chassis suspension system special damping components sector[47]. - The sales of self-owned brand passenger cars fell by 14% to 7.843 million units, accounting for 37.89% of total passenger car sales, a decrease of 2.9 percentage points year-on-year[44]. - The company sold approximately 1.87 million special polyurethane damping components for new energy vehicles, capturing about 38.7% of the new energy passenger vehicle market[63]. - The company achieved sales of approximately 163,500 lightweight pedal assemblies for new energy vehicles, representing about 13.55% of the new energy passenger vehicle market[64]. Research and Development - Research and development expenses increased by 31.64% to 32.93 million RMB, accounting for 6.67% of total revenue[74]. - The company has applied for and received acceptance for 19 patents during the reporting period, bringing the total number of accepted patents to 92, with 53 patents granted[46]. - The company is actively participating in the research and development of core components for electric vehicles, aligning with the trend of electrification in automotive chassis systems[62]. - The company has successfully developed new electric control technology products and established production lines and experimental facilities, receiving customer recognition[9]. Strategic Initiatives - The company has established strategic partnerships with major domestic automotive manufacturers, including SAIC Volkswagen and Ford, enhancing its market presence and customer base[30]. - The company is focusing on expanding its non-automotive product line, particularly high-performance polyurethane wheels for logistics and automation industries, indicating diversification efforts[32]. - The company plans to develop new business areas, targeting a 20% revenue contribution from new businesses within five years and 50% within ten years[96]. - The company is investing in a new production base in Nantong, aiming to create a highly automated and intelligent benchmark factory[9]. Corporate Governance - The company has a history of maintaining a consistent cash dividend policy, with a payout ratio of 71.20% for 2019[104]. - The company has implemented a performance evaluation system for employees, promoting skill development and career growth[122]. - The company has maintained compliance with national laws and regulations, with no administrative penalties received[122]. - The company has not faced any major litigation or arbitration matters during the reporting period[112]. Risks and Challenges - The company has identified significant risks that may adversely affect its future development and operational goals, as detailed in the report[7]. - The automotive industry in China is expected to see a decline in vehicle sales by approximately 10% in 2020 due to various macroeconomic factors[95]. - Currency fluctuations may affect the company's export pricing and import costs, impacting sales and profitability[100]. - The company faces risks from macroeconomic factors, including the impact of the COVID-19 pandemic on consumer spending and potential trade tensions affecting overseas market expansion[100].

Financial Performance - Operating revenue for the first nine months was CNY 372,955,206.41, a decrease of 10.18% year-on-year[7] - Net profit attributable to shareholders decreased by 27.90% to CNY 74,089,254.46 for the first nine months[7] - The weighted average return on net assets dropped by 4.44 percentage points to 8.83%[8] - Basic and diluted earnings per share decreased by 27.8% to CNY 0.70[8] - Net profit for the first three quarters of 2019 was RMB 74,473,252.22, a decline of 27.5% from RMB 102,658,042.65 in the same period of 2018, primarily due to a decrease in sales revenue[13] - Total operating revenue for Q3 2019 was $112.74 million, a decrease of 9.6% compared to $124.05 million in Q3 2018[24] - Net profit for Q3 2019 was $13.81 million, down 39.5% from $22.83 million in Q3 2018[25] - Total profit for Q3 2019 was $14.70 million, down 42.1% from $25.31 million in Q3 2018[25] - Comprehensive income attributable to the parent company for Q3 2019 was $13.77 million, down from $22.75 million in Q3 2018[27] Cash Flow - Net cash flow from operating activities decreased by 15.11% to CNY 86,747,279.40[7] - The cash flow from operating activities for the first three quarters of 2019 was CNY 86.75 million, down 15.06% from CNY 102.19 million in the same period of 2018[32] - In Q3 2019, the net cash flow from operating activities was ¥85,383,591.50, a decrease of 16.67% compared to ¥102,489,629.53 in Q3 2018[36] - Total cash inflow from operating activities was ¥428,981,153.01, down 8.54% from ¥469,110,200.58 in the same period last year[36] - The company reported a net cash flow from investment activities of ¥80,321,963.85, a significant improvement from a net outflow of ¥62,500,330.96 in the previous year[36] - Cash and cash equivalents at the end of the period increased to ¥274,488,156.41, compared to ¥322,835,501.27 at the end of Q3 2018[33] - The company’s cash and cash equivalents net increase for the period was ¥84,739,557.05, compared to a net decrease of ¥34,494,035.80 in the same period last year[36] Assets and Liabilities - Total assets decreased by 2.94% to CNY 934,778,017.70 compared to the end of the previous year[7] - The total assets as of September 30, 2019, amounted to RMB 655,232,687.30, a decrease from RMB 716,694,399.60 at the end of 2018[16] - Total liabilities as of September 30, 2019, were CNY 98,138,657.56, down from CNY 128,006,739.42, indicating a decrease of approximately 23.4%[18] - Current liabilities decreased to CNY 94,782,241.93 from CNY 124,650,896.50, reflecting a reduction of about 24%[18] - Shareholders' equity increased slightly to CNY 836,639,360.14 from CNY 835,077,828.86, showing a marginal growth of about 0.2%[18] Shareholder Information - The total number of shareholders at the end of the reporting period was 7,521[10] - The largest shareholder, Yang Yingtao, holds 20.88% of the shares[10] Government Subsidies and Other Income - The company received government subsidies amounting to CNY 6,171,100.00 during the reporting period[8] - Other income increased by 45.6% to RMB 9,708,504.21 from RMB 6,666,406.17 year-on-year, attributed to timing differences in subsidy income[13] - The company reported other income of $6.17 million in Q3 2019, compared to $0.85 million in Q3 2018[24] - The company achieved other income of CNY 6.17 million in Q3 2019, significantly up from CNY 0.85 million in Q3 2018[28] Inventory and Prepayments - Prepayments rose by 66.0% to RMB 8,277,911.20 compared to RMB 4,987,450.76 at the end of 2018, indicating an increase in advance payments for materials[13] - Inventory decreased to CNY 89,840,770.93 from CNY 109,763,504.05, a decline of about 18.1%[21] Research and Development - R&D expenses for Q3 2019 amounted to $7.37 million, representing an increase of 20.9% compared to $6.10 million in Q3 2018[24] - The company's R&D expenses in Q3 2019 were CNY 5.50 million, an increase of 19.83% compared to CNY 4.59 million in Q3 2018[28]

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 260,211,477.99, a decrease of 10.64% compared to CNY 291,179,452.74 in the same period last year[17]. - The net profit attributable to shareholders for the first half of 2019 was CNY 60,342,243.42, down 24.58% from CNY 80,004,982.00 in the previous year[17]. - The net cash flow from operating activities was CNY 55,307,540.47, showing a slight decrease of 0.62% compared to CNY 55,654,306.61 in the same period last year[17]. - Basic earnings per share for the first half of 2019 were CNY 0.57, a decrease of 25.00% compared to CNY 0.76 in the same period last year[18]. - The weighted average return on net assets was 6.98%, down 3.45 percentage points from 10.43% in the previous year[18]. - The total comprehensive income for the first half of 2019 was CNY 60,680,157.88, down from CNY 79,832,681.58 in the same period of 2018[110]. - The net profit for the first half of 2019 was CNY 62,349,173.33, a decrease of 21.0% compared to CNY 79,025,157.86 in the same period of 2018[113]. - Operating profit for the first half of 2019 was CNY 69,691,688.32, down from CNY 92,266,069.62 in the first half of 2018, reflecting a decline of 24.5%[113]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,011,555,959.00, an increase of 5.03% from CNY 963,084,568.28 at the end of the previous year[17]. - The total liabilities increased to CNY 190,179,713.31 from CNY 128,006,739.42, representing a rise of about 48.7%[102]. - The company's equity attributable to shareholders was CNY 819,334,838.44, down from CNY 832,952,714.45, indicating a decrease of approximately 1.6%[102]. - Current assets totaled CNY 746,590,099.61, up from CNY 716,694,399.60, indicating an increase of about 4.0%[100]. - The company's cash and cash equivalents were CNY 345,376,525.71, compared to CNY 190,785,442.77 in the previous period, reflecting a significant increase of approximately 81.0%[100]. - Total liabilities increased to CNY 182,823,287.74 from CNY 129,563,262.00, indicating a significant rise in financial obligations[106]. - The total equity decreased to CNY 818,186,530.63 from CNY 829,819,098.35, showing a decline in shareholder equity[106]. Market Position and Operations - The company operates in the automotive parts manufacturing industry, focusing on the research, production, and sales of chassis suspension system components and lightweight pedal assemblies[23]. - The company holds a significant market position, ranking second in domestic market share for polyurethane buffer blocks and springs, with notable international brand recognition[23]. - The company achieved a market share of approximately 32% in the domestic market for special damping components, breaking the long-standing monopoly of foreign enterprises[37]. - The company has established a strong customer base, including renowned automotive manufacturers such as Porsche, Volkswagen, and GM, and is actively developing partnerships with emerging electric vehicle companies[24]. - The company employs a "sales-driven production" model, ensuring efficient resource use and rapid response to customer orders[27]. - The company has a diversified sales strategy, targeting both domestic and overseas markets, with direct sales to OEMs and through distributors for aftermarket customers[28]. Research and Development - The company applied for 11 patents and was granted 5 new patents during the reporting period, bringing the total number of patents received to 51[35]. - The company has invested approximately CNY 42.47 million in the construction of its R&D center, which is still in the construction phase[51]. - The company has made progress in the development of new products, including electronic throttle systems, with testing and production line installation ongoing[46]. - Research and development expenses rose to CNY 12,966,720.83, up from CNY 11,942,361.66, indicating an increase in investment in innovation[109]. Risks and Challenges - The company has identified significant risks that may adversely affect its future development and operational goals, as detailed in the report[5]. - The report includes a forward-looking statement risk declaration, indicating uncertainties in future plans and potential investment risks[4]. - The company faces macroeconomic risks, including potential declines in the domestic automotive industry and uncertainties from U.S.-China trade disputes[68]. - Currency fluctuation risks may impact sales revenue and procurement costs due to increased volatility in exchange rates[68]. - The company is exposed to industry competition risks, which may lead to price reductions by vehicle manufacturers affecting component suppliers[68]. - Raw material price fluctuations, particularly for polyurethane and engineering plastics, could significantly impact the company's profit margins[68]. Shareholder Information - The company plans to repurchase and cancel 99,000 restricted stocks due to the departure of certain employees, reducing the total share capital from 105,922,077 shares to 105,823,700 shares[6]. - As of the end of the reporting period, the total number of ordinary shareholders was 7,853[87]. - The top shareholder, Yang Yingtao, holds 22,097,891 shares, representing 20.86% of the total shares[89]. - The second largest shareholder, Liming Chemical Research Design Institute, holds 10,247,364 shares, accounting for 9.67%[89]. - The report indicates that all major shareholders are domestic individuals or state-owned entities, with no foreign shareholders listed[89]. Financial Management and Accounting - The financial statements prepared by the company comply with the requirements of the enterprise accounting standards, reflecting the company's financial position and operating results accurately[136]. - The company's accounting period runs from January 1 to December 31 each year[137]. - The company recognizes expected credit losses for financial assets measured at amortized cost and those measured at fair value through other comprehensive income[162]. - The company assesses credit risk on a portfolio basis when sufficient evidence cannot be obtained for individual financial instruments[164]. - The company recognizes impairment losses for investments classified as held for sale if the fair value less disposal costs is lower than the carrying amount[184].