Financial Performance - The company's operating revenue for 2022 was CNY 1,700,011,389.14, representing a 5.55% increase compared to CNY 1,610,663,736.51 in 2021[23]. - The net profit attributable to shareholders for 2022 was CNY 70,552,927.39, which is a 12.61% increase from CNY 62,653,682.11 in the previous year[23]. - The net profit after deducting non-recurring gains and losses surged by 175.56% to CNY 63,581,121.73 from CNY 23,073,280.27 in 2021[23]. - The cash flow from operating activities for 2022 was CNY 245,493,570.87, a significant recovery from a negative cash flow of CNY -31,766,344.26 in 2021[23]. - Total assets at the end of 2022 reached CNY 2,395,920,723.94, an 8.04% increase from CNY 2,217,558,867.31 at the end of 2021[23]. - The net assets attributable to shareholders increased by 5.39% to CNY 1,106,429,701.77 from CNY 1,049,847,161.57 in the previous year[23]. - Operating profit was CNY 79,654,500, a decrease of 0.89% compared to the previous year[61]. - The operating costs increased to CNY 1,338,775,988.77, up 5.30% year-on-year, primarily due to increased revenue[62]. - The basic earnings per share increased to 0.32 yuan, a rise of 14.29% from 0.28 yuan in 2021[24]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 1 per 10 shares, totaling CNY 22,250,100.30 based on the total share capital of 222,501,003 shares[5]. - The cash dividend distribution represents 31.54% of the net profit attributable to ordinary shareholders in the consolidated financial statements, which amounts to CNY 70,552,927.39[158]. - The company has established a cash dividend policy that requires a minimum of 45% of the average distributable profit over the last three years to be distributed in cash, provided conditions are met[154]. - The company plans to continue improving its corporate governance structure and internal control mechanisms to enhance risk awareness among management[123]. - The company plans to implement a shareholder return plan for the next three years (2022-2024), focusing on dividend distribution[136]. Research and Development - The company emphasizes R&D investment, maintaining a focus on traditional suspension systems while developing new products such as air suspension dampers and adjustable dampers, with some high-end products already on sale[40]. - The company invested CNY 75.8887 million in R&D, accounting for 4.46% of the annual revenue, focusing on projects like semi-active hydraulic mounts and adjustable dampers[78]. - The number of R&D personnel is 384, representing 12.53% of the total workforce[77]. - The company has 40 ongoing R&D projects, with most completed in 2022[78]. - The company plans to continue increasing R&D investment, focusing on high-tech and high-value-added products, particularly in intelligent electric control suspension systems[109]. Market and Industry Trends - The domestic automotive aftermarket is expected to grow rapidly due to increasing vehicle ownership and age, particularly with the rise of new energy vehicles, creating a new incremental market for high-end intelligent suspension systems[38]. - The global automotive aftermarket is projected to grow, supported by a stable increase in vehicle ownership, with over 1.5 billion vehicles worldwide by the end of 2022[44]. - The automotive parts industry accounts for approximately 50% of the total value of the automotive industry, with a significant portion of the market driven by the aftermarket[42]. - The company has established a stable customer base in the automotive aftermarket over 20 years, leveraging a global sales platform to penetrate the domestic market, aiming for a dual-engine growth model between domestic and international markets[38]. Production and Capacity Expansion - The company has expanded its production capacity for suspension system shock absorbers and is advancing the construction of its intelligent manufacturing park[36]. - The company established a production line for air spring airbags to ensure the production and sales of high-end air suspension systems[36]. - The company is enhancing its production clusters and upgrading existing facilities to improve efficiency and reduce costs[37]. - The company is shifting production focus towards high-margin, high-value products to enhance core competitiveness in the automotive sealing and damping segments[41]. Environmental and Social Responsibility - The company has invested CNY 2,427,600 in environmental protection during the reporting period[165]. - The company has implemented a comprehensive internal control system to enhance decision-making efficiency and safeguard shareholder interests[161]. - The company has completed the construction of pollution prevention facilities for waste gas, waste water, noise, and solid waste, all of which are in good condition and operating effectively[169]. - The company has adopted measures to reduce carbon emissions, such as phasing out old manufacturing equipment and using new energy-efficient manufacturing devices[176]. - The company has established a third-party certified environmental management system to ensure compliance with environmental management activities[175]. Governance and Compliance - The company has not reported any significant changes in competition or business operations that would impact its market position[123]. - The company has no major differences in governance compared to regulations set by the China Securities Regulatory Commission[123]. - The company has established a performance evaluation mechanism for its board members and senior management, contributing to improved corporate governance[160]. - The company has committed to enhancing the awareness of standardized operations and risk control among its board members and senior management[123]. - The company has seen changes in its board composition, with key personnel transitions impacting management structure[133]. Risks and Challenges - The company acknowledges risks from a prolonged global economic downturn, which could slow the growth of global vehicle ownership and impact sales[113]. - Currency fluctuations pose a risk to the company's profitability, as major sales are in USD and EUR, affecting exchange rate stability[114]. - Raw material price volatility is a significant risk, as direct material costs constitute a large portion of the company's expenses, potentially impacting gross margins[115]. - Trade barriers in importing countries could adversely affect the company's export business and competitiveness in overseas markets[116]. - The company faces risks in maintaining its product development and manufacturing capabilities, which are critical for meeting diverse customer demands in the aftermarket[117].

Financial Performance - The company's revenue for Q3 2022 was ¥476,949,080.06, representing a year-over-year increase of 12.18%[5] - Net profit attributable to shareholders for Q3 2022 was ¥41,391,162.32, a significant increase of 209.43% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2022 was ¥39,844,018.14, up 216.78% year-over-year[5] - Basic earnings per share for Q3 2022 were ¥0.19, an increase of 216.14% compared to the same period last year[6] - Net profit for the third quarter of 2022 was ¥80,015,040.54, compared to ¥68,805,648.76 in the same quarter of 2021, representing an increase of 16.0%[20] - Earnings per share for the third quarter of 2022 was ¥0.36, up from ¥0.27 in the same quarter of 2021, indicating a growth of 33.3%[20] - Total comprehensive income for the third quarter of 2022 was ¥90,820,300.80, compared to ¥68,789,437.26 in the same quarter of 2021, indicating an increase of 32.0%[20] Cash Flow - The operating cash flow for the year-to-date period was ¥83,966,408.65, reflecting a substantial increase of 506.98% due to increased sales collections[6][9] - Operating cash inflow for the first three quarters of 2022 reached ¥1,569,345,454.88, an increase of 27% compared to ¥1,237,909,757.98 in the same period of 2021[22] - Net cash flow from operating activities was ¥83,966,408.65, a significant recovery from a negative cash flow of ¥20,631,756.99 in the first three quarters of 2021[22] - Cash inflow from financing activities was ¥447,897,602.88, compared to ¥137,100,000.00 in the same period last year, leading to a net cash flow from financing activities of ¥265,832,678.63[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,465,906,586.32, marking an 11.20% increase from the previous year[6] - The company's total liabilities as of the third quarter of 2022 amounted to ¥1,188,030,549.36, an increase from ¥1,008,864,527.50 in the previous year[18] - The company's non-current liabilities totaled ¥299,466,256.58 as of the third quarter of 2022, up from ¥186,862,772.27 in the previous year, reflecting a growth of 60.0%[18] - The company reported a total equity attributable to shareholders of ¥1,118,922,386.17, which is a 6.58% increase from the previous year[6] - The total equity attributable to shareholders of the parent company was ¥1,118,922,386.17, up from ¥1,049,847,161.57 in the same period of 2021, reflecting a growth of 6.6%[18] Operational Metrics - Total operating revenue for the first three quarters of 2022 reached ¥1,316,293,448.11, an increase of 16.9% compared to ¥1,126,298,787.28 in the same period of 2021[19] - Total operating costs for the first three quarters of 2022 were ¥1,196,561,121.21, up from ¥1,070,777,819.76 in 2021, reflecting a growth of 11.7%[19] - Research and development expenses for the first three quarters of 2022 were ¥58,859,334.89, compared to ¥55,512,017.44 in 2021, showing an increase of 6.7%[19] Shareholder Information - Total number of common shareholders at the end of the reporting period was 12,689[12] - Zhejiang Zhengyu Investment Co., Ltd. holds 44.27% of shares, totaling 98,490,595 shares[12] Other Financial Information - Non-recurring gains and losses for the reporting period amounted to ¥1,547,144.18, with a total of ¥6,096,233.66 for the year-to-date period[8] - The company reported a financial expense of -¥21,616,592.67 for the first three quarters of 2022, a significant improvement compared to ¥13,792,311.65 in the same period of 2021[19] - Cash outflow from investment activities totaled ¥363,333,129.48, up from ¥230,589,206.99 in the previous year, resulting in a net cash flow from investment activities of -¥362,860,666.01[23] - The company received cash from sales of goods and services amounting to ¥1,369,255,438.60, a 24% increase from ¥1,101,897,381.98 in the first three quarters of 2021[22] - The company reported a cash return from tax refunds of ¥108,308,924.01, an increase of 34% compared to ¥80,663,995.17 in the previous year[22] - The company paid ¥265,946,915.33 in employee compensation, which is an increase from ¥227,258,239.37 in the same period of 2021[22] - The company’s cash outflow for taxes paid was ¥18,747,423.23, a decrease from ¥27,906,737.33 in the previous year[22] - The impact of exchange rate changes on cash and cash equivalents was positive at ¥4,495,421.38, compared to a negative impact of -¥1,276,151.84 in the same period last year[23]

Financial Performance - The company's operating revenue for the first half of 2022 was RMB 839,344,368.05, representing a 19.71% increase compared to RMB 701,120,227.90 in the same period last year[19]. - The net profit attributable to shareholders of the listed company decreased by 15.23% to RMB 39,117,405.67 from RMB 46,142,784.30 year-on-year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 138.38% to RMB 34,568,316.19, primarily due to capacity and revenue growth as well as exchange rate fluctuations[21]. - The net cash flow from operating activities was RMB 45,410,817.75, a significant improvement from a negative RMB 4,165,078.51 in the previous year[21]. - Basic earnings per share decreased by 14.29% to RMB 0.18 from RMB 0.21 in the same period last year[20]. - The weighted average return on net assets decreased to 3.67% from 4.43% year-on-year[20]. - The company achieved operating revenue of 839,344,368.05 RMB, a year-on-year increase of 19.71%[48]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was 34,568,300 RMB, up 138.38% year-on-year[42]. Assets and Liabilities - The total assets of the company increased by 12.62% to RMB 2,497,397,744.03 compared to RMB 2,217,558,867.31 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company rose by 1.83% to RMB 1,069,084,516.68 from RMB 1,049,847,161.57 at the end of the previous year[19]. - The company's total liabilities amounted to 1,269.03 million RMB, with a debt-to-asset ratio of 50.81%[124]. - Total liabilities rose to ¥802,390,753.30, compared to ¥575,510,188.84, indicating an increase of 39.3%[136]. - The company's non-current liabilities totaled 260.68 million RMB, while current liabilities were 1,008.36 million RMB[124]. Cash Flow - The net cash flow from operating activities increased due to higher sales collections[50]. - The company reported a significant increase in cash flow from operating activities, reaching 45,410,817.75 RMB, compared to a negative cash flow in the previous year[48]. - The net cash flow from investing activities was negative at -¥273,036,846.91 for the first half of 2022, worsening from -¥19,053,537.71 in the first half of 2021, indicating increased investment expenditures[140]. - Cash inflow from financing activities surged to ¥213,076,386.62 in the first half of 2022, compared to only ¥4,814,497.76 in the same period of 2021, showing a substantial increase in financing efforts[140]. Market Position and Strategy - The company primarily engages in the research, production, and sales of automotive suspension system shock absorbers, rubber damping products, and engine sealing components[30]. - The company serves major international clients such as Tenneco, ZF Group, and AutoZone, indicating a strong market position and influence[30]. - The aftermarket is the main target market for the company's products, with a focus on high-quality standards required by international clients[37]. - The company is adapting to trends in the automotive industry, including lightweight, electric, intelligent, and connected technologies, particularly in suspension systems[29]. - The company aims to enhance its production efficiency and scale benefits to meet the "one-stop" procurement needs of its clients[37]. Research and Development - Research and development expenses rose as the company increased investment in new product development to expand production and sales scale[50]. - The company has invested in R&D for high-end dampers, with new products like air suspension dampers already achieving sales[46]. - The company has established a comprehensive quality control system and obtained multiple certifications, including ISO/TS16949 and ISO14001, ensuring stable product quality[41]. Environmental Management - The company and Ningbo Hongyu strictly adhere to the Environmental Protection Law of the People's Republic of China, implementing effective environmental management practices[78]. - The company has established a self-monitoring quality assurance and control system for environmental monitoring, complying with the requirements of the pollution discharge permit[80]. - The company emphasizes the management of "three wastes" (wastewater, waste gas, and solid waste) and has implemented effective measures to control and reduce pollutant emissions[83]. - The company has adopted energy-saving measures and new technologies to reduce product energy consumption, promoting a culture of energy conservation[85]. Corporate Governance - The company has made commitments to avoid any non-operational fund occupation by controlling shareholders, ensuring financial integrity[93]. - The company has established a commitment to not engage in unfair transactions that could harm its interests, reinforcing corporate governance[92]. - The company has committed to linking executive compensation to the execution of return measures, aligning management incentives with shareholder interests[92]. - There were no major lawsuits or arbitration matters reported during the reporting period, indicating a stable legal environment for the company[94]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 10,040[105]. - The largest shareholder, Zhejiang Zhengyu Investment Co., Ltd., holds 44.27% of the shares, totaling 98,490,595 shares[107]. - The second-largest shareholder, Zheng Lianping, holds 7.59% of the shares, totaling 16,898,549 shares[107]. - The third-largest shareholder, Zheng Liansong, holds 7.42% of the shares, totaling 16,511,904 shares[107]. Financial Reporting and Compliance - The financial statements are prepared based on the assumption of going concern, indicating no significant doubts about the company's ability to continue operations[158]. - The company adheres to the accounting standards, ensuring that the financial statements reflect a true and complete picture of its financial status[160]. - The company has not reported any significant guarantees or contracts that are still in progress[99]. - The company has not reported any changes in its controlling shareholder or actual controller during the reporting period[111].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 359,483,113.40, representing a year-on-year increase of 9.34%[5] - The net profit attributable to shareholders decreased by 79.58% to CNY 10,372,057.41, primarily due to the sale of a wholly-owned subsidiary in the previous year and the impact of the pandemic on production[7] - The basic and diluted earnings per share both decreased by 78.26% to CNY 0.05[5] - In Q1 2022, the company reported a net profit of CNY 8,554,897.24, a decrease of 84.00% compared to CNY 53,609,507.84 in Q1 2021[18] - The company’s total comprehensive income for Q1 2022 was CNY 6,381,305.46, a decrease of 88.12% from CNY 53,669,160.42 in Q1 2021[19] - Operating profit for Q1 2022 was CNY 9,990,078.08, down 82.11% from CNY 55,904,546.89 in Q1 2021[18] Cash Flow and Liquidity - The net cash flow from operating activities increased by 127.46% to CNY 9,350,061.11, mainly due to an increase in cash received related to operating activities[7] - The cash flow from operating activities showed a net inflow of CNY 9,350,061.11, an increase of 127.00% compared to CNY 4,110,706.17 in the same quarter last year[20] - The company's cash and cash equivalents at the end of Q1 2022 were CNY 42,380,211.44, a decrease from CNY 89,023,548.87 at the end of Q1 2021[20] - The company's cash and cash equivalents decreased to ¥117,697,347.62 from ¥134,304,838.06, a decline of 12.3%[13] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,212,352,812.13, a slight decrease of 0.23% compared to the end of the previous year[6] - Total liabilities decreased to ¥997,277,166.86 from ¥1,008,864,527.50, a decline of 1.5%[15] - Total assets amounted to ¥2,212,352,812.13, slightly down from ¥2,217,558,867.31[14] Shareholder Information - The equity attributable to shareholders increased by 0.78% to CNY 1,058,045,627.20[6] - The total number of common shareholders at the end of the reporting period was 10,491[9] - Zhejiang Zhengyu Investment Co., Ltd. held 44.27% of the shares, with 35,942,796 shares pledged[9] Operating Costs and Expenses - Total operating costs for Q1 2022 were ¥340,859,598.80, up 13.1% from ¥301,244,490.16 in Q1 2021[17] - Research and development expenses increased to CNY 17,584,107.33, representing a 21.00% rise from CNY 14,525,702.39 in Q1 2021[18] Investment and Other Income - The company experienced a significant decline in investment income, reporting a loss of CNY 3,222,480.66 compared to a gain of CNY 36,587,714.57 in the previous year[18] - The company reported non-recurring gains and losses of CNY 4,333,404.90 from government subsidies related to normal business operations[6] - The company continues to invest in new technologies and product development, although specific figures are not provided in the report[16]

Financial Performance - The company's operating revenue for 2021 was CNY 1,610,663,736.51, representing a 41.57% increase compared to CNY 1,137,747,546.02 in 2020[23] - The net profit attributable to shareholders of the listed company decreased by 42.99% to CNY 62,653,682.11 from CNY 109,899,215.36 in the previous year[23] - The net profit after deducting non-recurring gains and losses increased significantly by 432.09% to CNY 23,073,280.27 from CNY 4,336,356.82 in 2020[23] - The cash flow from operating activities showed a negative net amount of CNY -31,766,344.26, a decrease of 136.81% compared to CNY 86,309,844.03 in 2020[23] - The total assets of the company increased by 22.96% to CNY 2,217,558,867.31 at the end of 2021, up from CNY 1,803,520,557.68 at the end of 2020[23] - The net assets attributable to shareholders of the listed company increased by 2.59% to CNY 1,049,847,161.57 from CNY 1,023,370,353.88 in the previous year[23] - Basic earnings per share were CNY 0.28, down 46.15% from CNY 0.52 in the previous year[25] - The weighted average return on equity was 6.06%, a decrease of 7.10 percentage points compared to the previous year[25] Revenue and Sales Growth - The company's operating revenue for the reporting period was CNY 1,610,663,736.51, an increase of 41.57% compared to the same period last year, driven by downstream market demand and gradual capacity release[25] - The company achieved a sales revenue of 30.71 million yuan from rubber shock absorber products in 2021, reflecting a continuous increase in sales as production capacity is released[37] - The company reported a quarterly revenue increase, with Q4 revenue reaching CNY 484,364,949.23, up from CNY 328,788,756.81 in Q1[28] - Revenue from other automotive parts surged by 158.26%, attributed to increased sales of rubber shock-absorbing products[67] Investment and Expansion - The company has invested 218 million yuan in the construction of a new project to produce 5 million rubber shock absorber products annually, enhancing its product variety to meet market demand[37] - The company is expanding its domestic market presence by collaborating with multiple automotive parts brand platform operators, leveraging the growing demand in the domestic aftermarket due to increasing vehicle ownership and age[35] - The company is establishing overseas logistics centers in North America to strengthen its global direct sales network and provide faster services to international customers[36] - The company has invested 227 million RMB in the construction of the Zhengyu Intelligent Manufacturing Park, which is currently in the infrastructure phase[92] Research and Development - Research and development expenses increased by 44.17% to 76,975,999.52 CNY, driven by new product development efforts[62] - The company has established a CNAS-certified R&D and testing center for shock absorbers, enhancing its product development capabilities and testing standards[38] - The company has a total of 360 R&D personnel, representing 10.91% of the total workforce, highlighting its commitment to research and development[78] - Total R&D investment accounted for 4.78% of operating revenue, indicating a strong focus on innovation[77] Market Strategy - The company aims to enhance its product structure and focus on high-end products like air suspension systems, which are gaining traction in the market[107] - The company plans to implement a "client-sharing development strategy" to expand its mid-to-high-end product offerings and focus on high-tech, high-value products[109] - The company plans to enhance its market share by focusing on a "dual circulation" strategy, emphasizing both domestic and international markets[112] - The international market strategy includes deepening customer service for three main categories: well-known auto parts importers, international auto parts groups, and industry peers in shock absorbers and seals[112] Risk Management - The company faces risks from a prolonged global economic downturn, which could slow the growth of global vehicle ownership and impact sales[114] - Currency fluctuation risks are present due to the company's reliance on exports, primarily denominated in USD and EUR, which could lead to significant exchange losses[115] - Raw material price volatility poses a risk, as the company relies on various materials, and failure to adjust product prices could negatively impact profitability[116] - Trade barriers in importing countries could adversely affect the company's export business and competitiveness in overseas markets[117] Corporate Governance - The company is committed to improving its corporate governance structure and internal control mechanisms to ensure compliance and protect shareholder interests[126] - The company has established a strategic committee to guide long-term planning and decision-making[143] - The company has independent directors serving in various capacities across multiple organizations, enhancing governance and oversight[134] - The company has implemented a performance evaluation mechanism for senior management, combining fixed and performance-based compensation to enhance accountability and operational stability[159] Environmental Responsibility - The company has established a comprehensive environmental management system certified by a third party, ensuring compliance with environmental laws and regulations[173] - Ningbo Hongyu has implemented measures to reduce carbon emissions, including the gradual elimination of high-energy-consuming equipment and the use of clean energy[174] - The company conducts annual inspections of wastewater, waste gas, and noise to ensure compliance with environmental standards[172] - Ningbo Hongyu was fined 200,000 yuan for exceeding air pollutant discharge standards and has since rectified the issue, ensuring compliance with environmental regulations[170] Employee Welfare and Training - Ningbo Hongyu emphasizes the importance of employee welfare, providing competitive salaries and various benefits, including social insurance and paid leave[176] - The company has implemented a training program tailored to different job categories and levels, enhancing employee skills and performance[152] - The total hours of outsourced labor amounted to 637,878, with total payments for outsourced labor reaching 1,608.17 million yuan[153] Shareholder Relations - The company plans to distribute cash dividends of 0.1 yuan per share for the 2021 fiscal year, totaling approximately 22,249,980.20 yuan, subject to shareholder approval[155] - The company has established a clear and transparent cash dividend policy, ensuring the protection of minority shareholders' rights[156] - The company reported a positive profit available for distribution to shareholders but did not propose a cash profit distribution plan, which is not applicable for this period[158]

Financial Performance - The company's operating revenue for Q3 2021 was ¥425,178,559.38, representing a year-on-year increase of 43.25%[5] - The net profit attributable to shareholders for Q3 2021 was ¥13,376,716.19, an increase of 3.46% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2021 was ¥12,577,857.33, a significant increase of 436.58% year-on-year[5] - Total operating revenue for the first three quarters of 2021 reached ¥1,126,298,787.28, a significant increase of 47% compared to ¥767,553,735.58 in the same period of 2020[16] - Operating profit for the first three quarters was ¥72,418,238.45, up from ¥55,382,173.49 in the previous year, reflecting a growth of 30%[17] - Net profit attributable to shareholders of the parent company was ¥59,519,500.49, representing a 64% increase from ¥36,299,252.50 in the same period last year[17] - The total comprehensive income for the first three quarters was ¥68,789,437.26, up from ¥46,950,280.65 in the previous year, indicating a growth of 46%[17] Earnings and Cash Flow - The basic earnings per share for Q3 2021 was ¥0.0601, a decrease of 2.91% compared to the previous quarter[6] - The company achieved a basic earnings per share of ¥0.2675, compared to ¥0.1738 in the same period last year, reflecting a 54% increase[17] - The company reported a net cash flow from operating activities of -¥20,631,756.99, a decline from ¥85,481,545.50 in the previous year, indicating cash flow challenges[19] - Cash inflow from operating activities totaled ¥1,237,909,757.98, compared to ¥877,938,799.48 in the previous year, showing an increase of 41%[19] - The company reported a decrease in other income, which fell to ¥6,469,318.51 from ¥15,587,626.34 in the previous year, a decline of 58%[16] Assets and Liabilities - The total assets at the end of Q3 2021 amounted to ¥2,057,494,930.69, reflecting a year-to-date increase of 14.08%[6] - The company's total assets as of September 30, 2021, amount to RMB 2,057,494,930.69, an increase from RMB 1,803,520,557.68 at the end of 2020[14] - Current assets total RMB 1,050,930,848.99, up from RMB 874,357,779.06 in the previous year[14] - Total liabilities are reported at RMB 850,055,529.37, compared to RMB 631,072,808.85 in the previous year[15] - Total assets amounted to $1.80 billion, a decrease from $1.83 billion at the beginning of the year[25] - Total liabilities increased to $631.07 million from $663.03 million[25] Shareholder Information - The equity attributable to shareholders at the end of Q3 2021 was ¥1,048,475,858.10, showing a slight increase of 2.45% from the end of the previous year[6] - The company's equity attributable to shareholders is RMB 1,048,475,858.10, up from RMB 1,023,370,353.88[15] - The total number of common shareholders at the end of the reporting period is 9,986[10] - Zhejiang Zhengyu Investment Co., Ltd. holds 44.27% of the shares, totaling 98,490,595 shares[10] Inventory and Receivables - Inventory has increased significantly to RMB 496,858,338.20 from RMB 341,803,655.25[14] - The accounts receivable increased to RMB 322,084,815.97 from RMB 300,331,500.30[13] - The company reported a significant increase in other receivables, totaling RMB 13,056,852.63, compared to RMB 9,753,199.39 in the previous year[13] Research and Development - Research and development expenses for the first three quarters amounted to ¥55,512,017.44, compared to ¥34,903,547.63 in the same period of 2020, marking an increase of 59%[16] Cash Flow from Financing Activities - The net cash flow from investing activities was -$74.25 million, a decrease from -$155.03 million in the previous period[20] - The total cash inflow from financing activities was $137.10 million, compared to $431.88 million last year[20] - The net cash flow from financing activities was $79.13 million, down from $142.61 million in the previous year[20] - The cash and cash equivalents at the end of the period totaled $62.61 million, a decrease from $154.52 million at the end of the previous year[20] - The company’s cash and cash equivalents decreased by $17.03 million during the quarter[20] Accounting Changes - The company implemented a new leasing standard starting January 1, 2021, affecting the financial statements[25]

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥701,120,227.90, representing a 48.94% increase compared to ¥470,750,385.76 in the same period last year[21]. - The net profit attributable to shareholders of the listed company was ¥46,142,784.30, a significant increase of 97.45% from ¥23,369,653.23 in the previous year[21]. - Basic earnings per share for the first half of 2021 were ¥0.21, up 90.91% from ¥0.11 in the same period last year[22]. - The company reported a decrease of 45.40% in net profit after deducting non-recurring gains and losses, with a figure of ¥14,501,527.01 compared to ¥26,558,675.54 in the previous year[21]. - The company achieved operating revenue of 701.12 million yuan, an increase of 48.94% year-on-year[58]. - Net profit attributable to shareholders reached 46.14 million yuan, up 97.45% year-on-year, while net profit excluding non-recurring gains and losses decreased by 45.40% to 14.50 million yuan[58]. Cash Flow and Assets - The net cash flow from operating activities was negative at -¥4,165,078.51, a decline of 128.27% compared to ¥14,730,696.06 in the same period last year[21]. - The total assets of the company at the end of the reporting period were ¥1,929,692,270.99, reflecting a 7.00% increase from ¥1,803,520,557.68 at the end of the previous year[21]. - The company reported a significant increase in inventory, which rose by 28.31% to 438.56 million yuan, indicating a buildup in production capacity[62]. - The company reported a total of restricted assets amounting to CNY 206,130,393.21, including cash of CNY 56,687,222.39, fixed assets of CNY 106,734,685.73, and intangible assets of CNY 42,708,485.09[67]. - The company's cash and cash equivalents decreased to CNY 114.33 million from CNY 124.44 million at the end of 2020, representing a decline of approximately 8.95%[145]. Market and Industry Insights - The automotive parts industry accounts for approximately 50% of the total automotive industry value, with a ratio of 1:1.7 between vehicle manufacturing and parts manufacturing in mature markets[26]. - The OEM market is expected to develop steadily alongside the overall automotive market, while the aftermarket is less affected by economic fluctuations[28]. - The global passenger car ownership is projected to reach 1.7 billion by 2035, driving growth in the aftermarket for automotive parts[29]. - The domestic automotive parts market is growing rapidly, with a significant increase in demand due to rising vehicle ownership and age[31]. Product Development and Innovation - The company has expanded its product offerings to include rubber damping products and engine sealing components through mergers and acquisitions[32]. - The company specializes in the manufacturing of automotive suspension system shock absorbers, which are critical for vehicle safety and comfort[33]. - The company has developed comprehensive service capabilities for suspension system shock absorbers since its establishment[32]. - The company has established a research and testing center for automotive shock absorbers, which has received CNAS certification, enhancing its product development capabilities[57]. - The company’s product offerings include nine series of shock absorbers, catering to a wide range of well-known automotive brands and models[48]. Environmental and Social Responsibility - The company emphasizes environmental protection and pollution prevention, adhering to national laws and regulations, and has implemented effective measures to control and reduce pollutant emissions[94]. - Ningbo Hongyu has established pollution prevention facilities that are fully operational and compliant with environmental standards[89]. - The company has developed an emergency response plan for environmental pollution incidents to minimize risks and damages[92]. - The company has a commitment to social responsibility and sustainable development, actively working to minimize environmental damage from its operations[96]. - The company has received recognition as a green enterprise in Zhejiang Province and Taizhou, and has been acknowledged as an advanced unit in energy conservation[94]. Financial Instruments and Risk Management - The company recognizes foreign currency transactions at the approximate exchange rate on the transaction date, with monetary items converted at the exchange rate on the balance sheet date, resulting in exchange differences recognized in current profit or loss[188]. - The company employs a simplified measurement approach for receivables and contract assets, estimating loss provisions equivalent to expected credit losses over the entire life[196]. - The company assesses credit risk for financial instruments at each reporting date, determining if there has been a significant increase in credit risk since initial recognition[197]. - The company is exposed to foreign exchange risks due to its export-oriented sales, primarily denominated in USD and EUR, which could lead to significant exchange losses[78]. - The company may face trade barriers in key markets, which could reduce its competitiveness and negatively impact export performance[80]. Corporate Governance and Shareholder Information - The company has committed to maintaining strong corporate governance and ethical standards, with no reported violations[106]. - The total amount of guarantees provided by the company, including those to subsidiaries, is RMB 115 million, which accounts for 9.67% of the company's net assets[112]. - The company has no overdue guarantees during the reporting period[112]. - The total number of ordinary shareholders at the end of the reporting period was 11,376[120]. - The largest shareholder, Zhejiang Zhengyu Investment Co., Ltd., holds 98,490,595 shares, accounting for 44.27% of the total shares, with 35,942,796 shares pledged[121].

Financial Performance - Net profit attributable to shareholders increased by 928.13% to CNY 50,796,859.16 compared to the same period last year[7]. - Operating revenue rose by 76.09% to CNY 328,788,756.81 compared to the same period last year[7]. - Basic earnings per share increased by 1,050.00% to CNY 0.23 compared to the same period last year[7]. - The weighted average return on equity increased by 4.25 percentage points to 4.84% compared to the same period last year[7]. - Total operating income for Q1 2021 was CNY 174,163,918.29, a 99.4% increase from CNY 87,544,894.14 in Q1 2020[36]. - Net profit attributable to shareholders of the parent company reached CNY 50,796,859.16, compared to CNY 4,940,717.13 in the same period last year, marking a significant increase[35]. - Total comprehensive income for Q1 2021 was CNY 53,669,160.42, significantly higher than CNY 10,712,514.51 in Q1 2020[35]. - The company reported an operating profit of CNY 55,904,546.89, compared to CNY 12,423,076.05 in Q1 2020, indicating improved operational efficiency[34]. Cash Flow - The net cash flow from operating activities decreased by 88.29% to CNY 4,110,706.17 compared to the same period last year[7]. - The net cash flow from operating activities for Q1 2021 was 4,110,706.17 RMB, a decrease of 88.3% compared to 35,101,551.48 RMB in Q1 2020[39]. - Total cash inflow from operating activities was 391,888,514.02 RMB, up 11.4% from 350,182,615.73 RMB in the previous year[39]. - Cash outflow from operating activities increased to 387,777,807.85 RMB, compared to 315,081,064.25 RMB in Q1 2020, reflecting a rise of 23.0%[39]. - The net cash flow from investing activities was 4,612,595.96 RMB, a significant improvement from a negative 186,321,670.13 RMB in the same period last year[39]. - Cash inflow from investing activities totaled 64,227,175.28 RMB, compared to a cash outflow of 1,147,441.10 RMB in Q1 2020[39]. - The net cash flow from financing activities was -64,890.78 RMB, a decrease from 211,165,630.95 RMB in Q1 2020, indicating a shift in financing strategy[40]. - The company reported a net cash outflow of 7,933,691.63 RMB in Q1 2021, contrasting with a net increase of 65,565,889.66 RMB in Q1 2020[42]. Assets and Liabilities - Total assets increased by 2.87% to CNY 1,855,246,010.95 compared to the end of the previous year[7]. - Total current assets as of March 31, 2021, were RMB 956.44 million, up 9.39% from RMB 874.36 million at the end of 2020[24]. - Non-current assets totaled CNY 898,806,966.66, down from CNY 929,162,778.62 in the previous quarter, reflecting a decrease of approximately 3.3%[26]. - Total liabilities decreased slightly to CNY 628,827,652.56 from CNY 631,072,808.85, a reduction of approximately 0.4%[26]. - The company’s total liabilities decreased by 37.04% in other payables, from RMB 12.96 million to RMB 8.16 million[14]. - Shareholders' equity rose to CNY 1,226,418,358.39, up from CNY 1,172,447,748.83, indicating an increase of about 4.6%[26]. - Cash and cash equivalents amounted to CNY 46,949,164.75, down from CNY 52,639,156.38, a decrease of approximately 10.5%[28]. - Inventory increased to CNY 63,379,634.50 from CNY 54,941,047.64, reflecting a growth of about 15.4%[29]. - Accounts payable decreased to CNY 245,628,078.90 from CNY 270,239,254.33, a decline of approximately 9.1%[26]. Investments and Expenses - R&D expenses rose by 70.52% to RMB 14.53 million in Q1 2021, attributed to higher investment in new product development[13][15]. - The company reported a significant investment income of RMB 36.59 million in Q1 2021, a substantial increase from a loss of RMB 1.88 million in Q1 2020, primarily from the sale of a subsidiary[13][20]. - The company incurred a financial expense of CNY 2,067,629.31, slightly down from CNY 2,174,957.29 in Q1 2020[36]. - The company reported an investment income of CNY 4,287,974.32, compared to CNY 1,214,377.72 in Q1 2020, reflecting better investment performance[36]. Market and Future Outlook - The company has not indicated any significant changes in net profit expectations for the year[21]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[33].

Financial Performance - The company's operating revenue for 2020 was CNY 1,137,747,546.02, representing a 2.60% increase compared to CNY 1,108,868,100.60 in 2019[21] - The net profit attributable to shareholders for 2020 was CNY 109,899,215.36, a significant increase of 47.55% from CNY 74,484,977.12 in the previous year[21] - The net profit after deducting non-recurring gains and losses was CNY 4,336,356.82, showing a decrease of 93.45% compared to CNY 66,188,785.91 in 2019[21] - The cash flow from operating activities for 2020 was CNY 86,309,844.03, down 34.00% from CNY 130,774,076.21 in 2019[21] - The total assets at the end of 2020 were CNY 1,803,520,557.68, an increase of 16.04% from CNY 1,554,222,222.46 at the end of 2019[21] - The net assets attributable to shareholders increased by 24.51% to CNY 1,023,370,353.88 at the end of 2020, compared to CNY 821,912,089.55 at the end of 2019[21] - The basic earnings per share for 2020 were CNY 0.52, up 44.44% from CNY 0.36 in 2019[23] - The weighted average return on net assets for 2020 was 13.16%, an increase of 3.79 percentage points from 9.37% in 2019[23] Dividend and Shareholder Returns - The company plans to distribute a cash dividend of CNY 1.5 per 10 shares, totaling CNY 33,374,598.75 based on the total share capital as of March 31, 2021[5] - The company has proposed a cash dividend of CNY 0.15 per share for the 2020 fiscal year, totaling approximately CNY 33.37 million[148] Market and Business Expansion - The company expanded its main business to include rubber damping products and engine sealing components through mergers and acquisitions, enhancing its product structure to better meet customer needs[34] - The company is committed to providing automotive parts and related services for the mid-to-high-end automotive aftermarket, focusing on the development and production of automotive suspension systems and shock absorbers[34] - The company aims to enhance product quality and efficiency through a strategy focused on "market-oriented synchronized R&D, flexible lean production, and large-scale intensive supply"[130] - The company plans to expand its market presence in the automotive aftermarket, which is expected to grow alongside the increasing vehicle ownership[105] - The company aims to deepen its international market development by strengthening services for three main customer categories, including international auto parts importers and manufacturers[136] Production and Operational Efficiency - The company adopts an "order-based" production model, optimizing production processes to meet the diverse and personalized needs of customers[51] - The company has developed a lean production management system to efficiently handle the complexities of small-batch, multi-variety production in the aftermarket[68] - The company has optimized its production layout and is investing in smart manufacturing to improve efficiency and reduce costs[75] Research and Development - The company has established a robust R&D management system, enhancing its ability to develop products in sync with market demands[65] - The company utilizes a customer-oriented R&D model to quickly provide multiple product development solutions based on client requirements[52] - The company’s total R&D expenditure accounted for 4.69% of its operating revenue[94] Risks and Challenges - The company has indicated potential risks in future plans and operations, advising investors to be cautious[6] - The company faces risks from a potential global economic downturn, which could slow the growth of global vehicle ownership and impact product sales[139] - Currency fluctuations, particularly in USD and EUR, pose a risk to the company's profitability due to its export-oriented business model[142] - Raw material price volatility could adversely affect the company's profitability if product prices are not adjusted accordingly[143] - Trade barriers in key markets like Europe and the US could negatively impact the company's export business and competitiveness[144] Environmental Compliance - The company ensures compliance with environmental regulations, with all major pollutants discharged within approved limits during the reporting period[195] - Wuhu Rongji has implemented pollution prevention facilities for wastewater, waste gas, noise, and solid waste, all in accordance with environmental impact assessment requirements[198] - Monitoring devices have been installed at major discharge points for wastewater and waste gas, connected to environmental protection departments for real-time monitoring[199] Corporate Governance and Compliance - The company has established a governance structure that includes a shareholders' meeting, board of directors, supervisory board, and management, ensuring effective decision-making and operational management[190] - The company has made commitments to ensure that its management does not engage in activities that could harm the company's interests[165] - The company has committed to ensuring that any related party transactions are conducted under fair and reasonable commercial terms[163] Financial Management - The company has a diversified investment strategy in cash asset management, utilizing idle fundraising[180] - The company has successfully managed its guarantees without incurring any overdue liabilities[178] - The company has projected a total of RMB 3,000,000 for borrowing from related parties, with no amounts borrowed during the reporting period[175]

Financial Performance - Net profit attributable to shareholders decreased by 52.34% to CNY 36,299,252.50 for the period from January to September[7] - Operating revenue declined by 6.68% to CNY 767,553,735.58 for the same period[7] - The weighted average return on net assets decreased by 5.11 percentage points to 4.37%[8] - Basic and diluted earnings per share fell by 52.78% to CNY 0.17[8] - The company reported a significant increase in construction in progress by 89.59%, rising to RMB 64,562,964.81 from RMB 34,053,101.03[14] - The company experienced a 43.51% decrease in income tax expenses, amounting to RMB 7,698,169.81 compared to RMB 13,627,707.02 in the previous year[18] - The total comprehensive income for the first three quarters of 2020 was ¥36,262,737.80, compared to ¥76,167,297.24 in the same period of 2019, reflecting a decrease of 52.4%[40] Assets and Liabilities - Total assets increased by 15.42% to CNY 1,793,826,231.95 compared to the end of the previous year[7] - Total liabilities amounted to CNY 701,538,170.30, compared to CNY 587,305,762.26, marking an increase of around 19.4%[30] - Current assets totaled CNY 846,690,362.27, up from CNY 721,785,704.27, indicating a growth of about 17.3% year-over-year[30] - The company's accounts receivable decreased by 43.85% to RMB 2,194,074.78 from RMB 3,907,210.04 in the previous year[14] - The total liabilities as of Q3 2020 amounted to ¥529,129,174.26, significantly higher than ¥271,641,946.84 in the same period last year, marking an increase of about 94.5%[33] - The total assets as of Q3 2020 were ¥1,378,107,019.27, compared to ¥1,036,744,053.08 in Q3 2019, reflecting an increase of about 32.9%[33] Cash Flow - Net cash flow from operating activities decreased by 12.08% to CNY 85,481,545.50[7] - The net cash flow from financing activities increased significantly by 1,803.52% to RMB 142,606,245.46 compared to a negative RMB 8,371,247.77 in the same period last year[25] - The net cash flow from operating activities for the first three quarters of 2020 was CNY 85,481,545.50, down from CNY 97,230,642.89 in 2019, reflecting a decline of 12.0%[44] - Cash inflow from financing activities increased to CNY 431,880,000.00 in 2020 from CNY 227,000,000.00 in 2019, representing an increase of 90.3%[47] - The total cash and cash equivalents at the end of the third quarter of 2020 amounted to CNY 154,519,053.28, up from CNY 95,966,339.04 at the end of the same period in 2019[47] Shareholder Information - The total number of shareholders reached 6,964 by the end of the reporting period[11] - The largest shareholder, Zhejiang Zhengyu Investment Co., Ltd., holds 44.54% of the shares[11] - Shareholders' equity reached CNY 1,092,288,061.65, up from CNY 966,916,460.20, which is an increase of about 12.9%[30] - Shareholders' equity totaled ¥848,977,845.01 in Q3 2020, compared to ¥765,102,106.24 in Q3 2019, which is an increase of approximately 10.9%[33] Strategic Initiatives - The company plans to continue exploring new strategies for market expansion and product development[6] - The company implemented a new revenue recognition standard, adjusting prepayments to contract liabilities, impacting financial reporting[56] - The company adopted new revenue recognition standards starting January 1, 2020, adjusting previously reported data from "prepayments" to "contract liabilities"[60]