Financial Performance - The company's operating revenue for the first half of 2022 was CNY 1,068,886,545.24, representing an increase of 8.18% compared to CNY 988,017,714.25 in the same period last year[18]. - The net profit attributable to shareholders of the listed company decreased by 26.08% to CNY 55,086,063.96 from CNY 74,520,479.43 in the previous year[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 47,730,306.68, down 30.53% from CNY 68,709,619.20 in the same period last year[18]. - The net cash flow from operating activities was CNY 101,633,059.40, a significant increase from a negative CNY 17,967,154.45 in the previous year, marking a 665.66% change[19]. - Basic earnings per share decreased by 38.89% to CNY 0.11 compared to the same period last year[20]. - Diluted earnings per share also decreased by 38.89% to CNY 0.11 compared to the same period last year[20]. - The company reported a total of CNY 6,305,525.43 in government subsidies recognized during the period[22]. - The total comprehensive income attributable to the parent company for the first half of 2022 was CNY 51,606,032.85, down from CNY 71,906,286.31 in the first half of 2021[95]. - The company reported a profit distribution of CNY 85,044,480 for the first half of 2022, with a significant loss of CNY 116,936,160 recorded[112]. Assets and Liabilities - The total assets of the company at the end of the reporting period were CNY 3,688,129,572.66, reflecting a 2.11% increase from CNY 3,612,053,904.99 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company increased by 1.53% to CNY 1,914,749,398.28 from CNY 1,885,813,952.77 at the end of the previous year[19]. - Total liabilities increased to CNY 1,592,799,572.66 from CNY 1,485,004,397.10, marking an increase of about 7.3%[87]. - The company's total assets included ¥166,428,347.04 in overseas assets, accounting for 4.51% of total assets[47]. - The total liabilities at the end of the reporting period were CNY 1,248,306,618.66, indicating a stable financial position[114]. Revenue and Sales - Sales of thermal management system products reached 635.67 million yuan, a year-on-year increase of 24.65%[33]. - EGR systems and sensors generated sales of 121.83 million yuan, up 17.58% year-on-year[33]. - Domestic sales accounted for 806.55 million yuan, a growth of 9.51%, while international sales were 227.00 million yuan, down 2.78%[33]. - The EGR business achieved sales revenue of 121 million yuan, reflecting a growth of 17.58%[37]. - The company reported a total of CNY 466,458,701.18 in sales revenue from goods and services received, an increase from CNY 332,504,649.27 in the first half of 2021, reflecting a growth of approximately 40%[104]. Research and Development - The company aims to enhance R&D capabilities and optimize customer and product structures to improve profitability[28]. - Research and development expenses increased by 6.87% to ¥51,536,611.22, reflecting the company's commitment to enhancing its R&D efforts[44]. - The company holds over 300 patents, including nearly 30 invention patents, demonstrating its technological and quality control capabilities[30]. - Research and development expenses for the first half of 2022 were ¥51,536,611.22, compared to ¥48,223,243.58 in the same period last year, marking a 4.3% increase[93]. Corporate Governance and Compliance - The company has implemented its first employee stock ownership plan to enhance governance and employee cohesion[36]. - The company has committed to not engage in competitive activities that threaten its main business during the tenure of its major shareholders and executives[63]. - The company has not faced any significant environmental penalties and adheres to strict environmental regulations[60]. - There were no significant lawsuits or arbitration matters during the reporting period[66]. - The company has not reported any violations or penalties against its directors, supervisors, senior management, or controlling shareholders during the reporting period[66]. Market and Industry Outlook - The automotive parts industry is expected to continue growing, driven by increasing demand for high-performance and low-emission vehicles[26]. - The company focuses on automotive thermal management systems, with key products including air conditioning pipelines and EGR systems[26]. - Major clients include Honda, Volvo, Ford, and several domestic and international automotive manufacturers[27]. - The company is actively expanding into the hydrogen fuel cell industry, holding a 27.84% stake in New Source Power, its largest shareholder[39]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 28,020[75]. - The top ten shareholders hold a total of 133,768,236 shares, representing 27.26% of the total shares[78]. - The largest shareholder, Tenglong Technology Group, holds 38,219,496 shares, with 97,748,000 shares pledged[78]. - The company has a share repurchase plan approved by the general meeting, with a repurchase price not lower than the issuance price plus bank interest during the relevant period[65]. Financial Policies and Accounting - The company’s financial statements are prepared on a going concern basis, indicating no significant doubts about its ability to continue operations for the next 12 months[123]. - The company adheres to accounting standards, ensuring that its financial reports accurately reflect its financial position, operating results, and cash flows[125]. - The company recognizes expected credit losses based on the risk of default, with the loss being the present value of the difference between all contractual cash flows and expected cash flows[140]. - The company measures financial liabilities at amortized cost using the effective interest method, recognizing gains or losses in the current period when financial assets are derecognized[137]. Taxation - The company benefits from a 15% corporate income tax rate due to high-tech enterprise certification valid from 2021 to 2023[185]. - Subsidiaries also enjoy a 15% corporate income tax rate under similar high-tech certifications and regional tax incentives[186]. - The company is subject to multiple tax rates, including a 13%, 9%, 6%, or 5% VAT depending on the goods or services provided[184].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 562,589,841.51, representing a year-on-year increase of 15.73%[5] - The net profit attributable to shareholders decreased by 38.35% to CNY 27,762,530.12 compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 43.97% to CNY 22,762,544.14[5] - The net profit for Q1 2022 was CNY 33,541,839.82, a decrease of 39.7% compared to CNY 55,751,674.57 in Q1 2021[22] - The total revenue from operating activities was CNY 518,602,467.35, slightly down from CNY 519,752,627.85 in the same period last year[25] - The company reported a net profit margin improvement, with operating income rising significantly while managing costs effectively[20] - The company’s total comprehensive income for Q1 2022 was CNY 31,048,836.54, down from CNY 53,576,030.70 in Q1 2021[22] Earnings and Shareholder Returns - Basic and diluted earnings per share were both CNY 0.08, down 61.90% year-on-year due to an increase in share capital[6] - Basic and diluted earnings per share were both CNY 0.08, compared to CNY 0.21 in the same quarter last year[22] - The weighted average return on equity decreased by 2.25 percentage points to 1.46%[6] Cash Flow and Liquidity - The net cash flow from operating activities increased significantly by 242.64% to CNY 23,319,475.58[5] - The company reported a net cash flow from operating activities of CNY 23,319,475.58, compared to a negative cash flow of CNY -16,348,186.32 in Q1 2021[25] - Cash and cash equivalents as of March 31, 2022, amounted to RMB 458,052,011.93, compared to RMB 342,618,618.18 at the end of 2021, representing a growth of 33.7%[17] - The cash and cash equivalents at the end of Q1 2022 were CNY 263,996,033.75, an increase from CNY 219,127,121.93 at the end of Q1 2021[26] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,704,305,111.21, an increase of 2.55% from the end of the previous year[6] - Total assets as of March 31, 2022, were RMB 3,704,305,111.21, up from RMB 3,612,053,904.99 at the end of 2021, reflecting a growth of 2.6%[18] - Total liabilities increased to RMB 1,546,206,766.78 as of March 31, 2022, compared to RMB 1,485,004,397.10 at the end of 2021, representing an increase of 4.1%[19] - The company’s total liabilities decreased to CNY 1,200,000,000.00 from CNY 1,300,000,000.00, indicating a reduction of approximately 7.7%[21] Equity and Investments - The total equity attributable to shareholders was CNY 1,911,083,479.61, up 1.34% from the previous year-end[6] - The company’s equity attributable to shareholders was RMB 1,911,083,479.61 as of March 31, 2022, compared to RMB 1,885,813,952.77 at the end of 2021, showing a growth of 1.3%[19] - Short-term borrowings as of March 31, 2022, were RMB 548,381,016.50, an increase from RMB 486,943,011.98 at the end of 2021, indicating a rise of 12.6%[19] - Investment activities resulted in a net cash outflow of CNY -52,228,037.31, a significant decrease from a net inflow of CNY 37,705,847.81 in the previous year[26] Costs and Expenses - Total operating costs for Q1 2022 were RMB 517,111,233.41, up from RMB 425,949,013.80 in Q1 2021, reflecting a year-over-year increase of 21.4%[20] - Research and development expenses increased to CNY 23,777,063.25, up from CNY 22,277,303.86, reflecting a growth of 6.7% year-over-year[21] - The company’s tax expenses for Q1 2022 were CNY 10,789,479.93, an increase of 28.9% from CNY 8,378,190.66 in Q1 2021[21] Non-Recurring Items - The company reported non-recurring gains of CNY 4,999,985.98 after tax, primarily from government subsidies and other non-operating income[9] - The decline in net profit was mainly attributed to the year-on-year increase in raw material prices[10]

Financial Performance - The company's operating revenue for 2021 was approximately ¥2.21 billion, representing a 24.53% increase compared to ¥1.77 billion in 2020[22]. - The net profit attributable to shareholders for 2021 decreased by 41.95% to approximately ¥90.46 million from ¥155.82 million in 2020[22]. - The basic earnings per share for 2021 was ¥0.29, down 44.23% from ¥0.52 in 2020[23]. - The total assets increased by 20.79% to approximately ¥3.61 billion in 2021, compared to ¥2.99 billion in 2020[22]. - The cash flow from operating activities for 2021 was approximately ¥81.71 million, a decrease of 50.53% from ¥165.16 million in 2020[22]. - The weighted average return on equity for 2021 was 6.05%, down from 13.88% in 2020, a decrease of 7.83 percentage points[23]. - The company's net profit for 2021 was CNY 113.00 million, a decrease of 40.05% from CNY 188.50 million in 2020[46]. - The total sales revenue increased by 24.53% compared to the previous year, driven primarily by growth in sales volume[49]. Shareholder Returns - The company plans to distribute 4 bonus shares for every 10 shares held and pay a cash dividend of 1 RMB (including tax), with a total cash dividend of approximately 35.06 million RMB, representing 38.75% of the net profit attributable to shareholders for the year[6]. - The company distributed a cash dividend of 1.5 per share (including tax) to shareholders, amounting to 31,891,680, which represents 20.47% of the net profit attributable to shareholders for the year[126]. - The company has a cash dividend policy that stipulates a minimum of 25% of the distributable profit will be distributed as cash dividends after covering losses and statutory reserves[122]. - The company plans to maintain a stable profit distribution policy, ensuring it aligns with operational conditions and long-term development needs[125]. Governance and Compliance - The company has received a standard unqualified audit report from Zhongtianyun Accounting Firm[5]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties[8]. - The company has not violated decision-making procedures for providing guarantees[8]. - The company has a comprehensive governance structure with all board members present at the board meeting[4]. - The company has established internal control systems to manage subsidiaries and ensure compliance with operational strategies and risk management[130]. - The company did not experience significant differences in governance compared to regulations set by the China Securities Regulatory Commission[91]. - The company has no penalties from securities regulatory agencies in the past three years[105]. Risk Factors - The company has detailed risk factors related to its future development in the report[8]. - The company faces risks from macroeconomic fluctuations, which could adversely affect production and profitability, particularly in the automotive sector[85]. - The company is exposed to risks related to the volatility of raw material prices, which could impact production costs[85]. - The company has a goodwill balance of 184.89 million yuan from acquisitions, which poses a risk of impairment if subsidiary performance does not meet expectations[86]. Research and Development - The company has increased R&D investment, expanding its product line to include wireless charging and heat pump systems for new energy vehicles, with successful customer validations[36]. - Research and development expenses rose to ¥102,402,264.88, an increase of 12.04% compared to the previous year, indicating a commitment to innovation[48]. - The company plans to enhance its research and development capabilities through the establishment of the Tenglong Research Institute, focusing on new product development and industry trend forecasting[79]. - The company is enhancing its management capabilities and risk resilience by increasing R&D investment and transitioning factories towards automation and intelligence[82]. Market Expansion - The company actively expanded into the new energy vehicle market, leveraging its early entry and technology accumulation, which is expected to drive profitability upward[33]. - The company aims to expand its market share in the new energy vehicle sector, leveraging existing partnerships with traditional automakers and new entrants like NIO, Xpeng, and Li Auto[80]. - The company is expanding its production capacity in response to order demands, including the construction of EGR production lines in Hubei[38]. - The company is positioned to capitalize on the opportunities arising from the implementation of the National VI emission standards, particularly in its EGR system and sensor businesses[78]. Employee and Training - The company completed 124 training projects in 2021, achieving a completion rate of 100%, with 2,358 participants in internal and external training sessions[118]. - The company’s training plan focuses on improving professional skills and management capabilities, with specific training in project management and quality management[119]. - The company has a structured salary policy that includes basic and performance-based wages, aimed at enhancing employee motivation[117]. Financial Management - The company has engaged Zhongtianyun Accounting Firm for auditing services with a fee of 900,000 yuan[147]. - The company has entrusted a total of ¥400,000,000 in capital management with a remaining balance of ¥210,000,000[152]. - The company has engaged in non-principal floating income investments totaling ¥50,000,000 with a projected annual return rate of 0%-3.3%[153]. - The company has a total of ¥30,000,000 in principal guaranteed investments with a return rate of 1% and has recovered ¥173,388.66[156]. Strategic Initiatives - The company has established long-term partnerships with major automotive manufacturers such as Honda, Volvo, and Ford, enhancing its customer resource advantage[43]. - The company has expanded its production bases globally, with facilities in Poland and Malaysia, supporting its international market expansion strategy[44]. - The company is considering mergers and acquisitions, including the absorption of wholly-owned subsidiaries[105]. - The company plans to implement a new digital sales strategy aimed at improving online sales by 40%[99].

2021 年第三季度报告 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）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 证券代码：603158 证券简称：腾龙股份 常州腾龙汽车零部件股份有限公司 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。 | 项目 | 本报告期 | 本报告期 | 年初至报告期末 | 年初至报告期 | | --- | --- | --- | --- | --- | | | | 比上年同 | | 末比上年同期 | | | | 期增减变 | | 增减变动幅度 | | | | 动幅度(%) | | (%) | | 营业收入 | 436,283,410.81 | 0.24 | 1,424,3 ...

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥988,017,714.25, representing a 45.14% increase compared to ¥680,723,100.39 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was ¥74,520,479.43, up 25.08% from ¥59,576,709.46 in the previous year[18]. - The basic earnings per share increased to ¥0.25, reflecting a growth of 25.00% compared to ¥0.20 in the same period last year[20]. - The weighted average return on net assets rose to 6.16%, an increase of 0.70 percentage points from 5.46% in the previous year[20]. - The company reported a 50.33% increase in operating costs, totaling 703.45 million RMB, primarily due to sales growth[38]. - The company reported a net profit for the first half of 2021 of 93.60 million RMB, up 27.26% from 73.55 million RMB year-on-year[32]. - The total comprehensive income for the first half of 2021 was ¥90,981,794.82, compared to ¥74,648,452.84 in the same period of 2020, reflecting a growth of 21.8%[91]. Cash Flow and Assets - The net cash flow from operating activities showed a significant decline, with a net outflow of ¥17,967,154.45 compared to a net inflow of ¥102,556,144.23 in the same period last year, marking a decrease of 117.52%[18]. - The company's cash and cash equivalents decreased by 47.98% to ¥148,139,059.91, down from ¥284,797,592.13 in the previous year[39]. - The company's total assets at the end of the reporting period were ¥2,985,652,275.69, a slight decrease of 0.15% from ¥2,990,237,680.85 at the end of the previous year[19]. - The company's cash and cash equivalents as of June 30, 2021, amount to ¥148,139,059.91, a decrease from ¥284,797,592.13 at the end of 2020[80]. - The company's total liabilities included bank loans secured by fixed and intangible assets, totaling ¥249,128,743.21[42]. Market and Industry Insights - In the first half of 2021, the automotive industry saw production and sales reach 12.569 million and 12.891 million vehicles, respectively, representing year-on-year growth of 24.2% and 25.6%[25]. - The production and sales of new energy vehicles reached 1.215 million and 1.206 million units, respectively, with a year-on-year growth of 100%[25]. - The automotive market is projected to continue its stable growth, driven by policies promoting energy-saving and environmentally friendly products[26]. Research and Development - R&D expenses increased by 44.14% to 48.22 million RMB, reflecting the company's commitment to innovation[38]. - The company has established 14 R&D, manufacturing, or service bases across China, enhancing its domestic industrial layout[29]. - The company is accelerating the construction of overseas expansion and R&D centers to enhance its service and solution offerings to clients[33]. Risks and Challenges - The company has outlined potential risks in the management discussion and analysis section, advising investors to be cautious[7]. - The company faces risks related to macroeconomic fluctuations affecting the automotive industry, which could impact production and profitability[48]. - The company is exposed to risks from price fluctuations of key raw materials such as aluminum, plastics, and rubber, which could affect production costs[48]. Corporate Governance and Compliance - The company has not disclosed any plans for profit distribution or capital reserve conversion during this reporting period[6]. - The company has not experienced significant product recalls due to quality issues, but potential recalls could lead to financial losses[49]. - The company has not received any penalties or corrective actions related to violations of laws or regulations during the reporting period[64]. Shareholder Information - The total number of unrestricted circulating shares increased from 216,971,200 to 302,015,680, reflecting an increase of 39.2%[69]. - The top shareholder, Tenglong Technology Group Co., Ltd., holds 95,548,740 shares, accounting for 31.64% of the total shares[72]. - The company guarantees that the cumulative net profit of Beijing Tianyuan from 2019 to 2021 will not be less than 180 million yuan[63]. Taxation and Financial Policies - The company enjoyed a preferential tax rate of 15% for high-tech enterprises in 2020, which may increase if tax policies change or if the company fails to pass future reviews[49]. - The company maintains a corporate income tax rate of 15% for most subsidiaries, with some subsidiaries subject to rates of 20% and 25%[196]. - The company benefits from tax incentives under the Western Development Policy, allowing a 15% corporate income tax rate for certain subsidiaries[199]. Accounting Policies - The company adheres to accounting standards, ensuring that the financial statements accurately reflect its financial position and operating results[126]. - The company recognizes revenue based on the progress of performance obligations, confirming revenue at the point when control of goods or services is transferred to the customer[173]. - The company has established specific accounting policies for bad debt provisions, depreciation, and revenue recognition based on its operational characteristics[125].

Financial Performance - The company's operating revenue for 2020 was CNY 1,771,918,363.05, representing a 71.44% increase compared to CNY 1,033,542,443.10 in 2019[25]. - Net profit attributable to shareholders for 2020 was CNY 155,824,034.98, a 27.77% increase from CNY 121,956,631.68 in 2019[25]. - The basic earnings per share for 2020 was CNY 0.73, up 28.07% from CNY 0.57 in 2019[26]. - The total assets at the end of 2020 reached CNY 2,990,237,680.85, a 21.89% increase from CNY 2,453,156,484.28 in 2019[25]. - The cash flow from operating activities for 2020 was CNY 165,161,129.58, reflecting a 54.44% increase compared to CNY 106,940,966.62 in 2019[25]. - The net profit after deducting non-recurring gains and losses for 2020 was CNY 140,753,062.70, a 21.21% increase from CNY 116,126,263.62 in 2019[25]. - The company achieved a quarterly revenue of CNY 655,967,462.46 in Q4 2020, contributing significantly to the annual growth[29]. - The company reported a total profit of 15,070,972.28 RMB for the year, with a significant increase from the previous year's profit of 5,830,368.06 RMB, marking a growth of approximately 157.5%[32]. Shareholder Returns - The company plans to distribute 4 additional shares for every 10 shares held and pay a cash dividend of 1.5 yuan (including tax), with a total of 31,891,680 yuan in cash dividends, accounting for 20.47% of the net profit attributable to shareholders for the year[5]. - The company’s cash dividend policy stipulates that at least 25% of the distributable profit should be distributed as cash dividends, subject to certain conditions[89]. - The company’s cash dividend distribution may be adjusted based on its development stage and significant capital expenditure plans, with minimum cash dividend ratios set at 20% to 80% depending on circumstances[90]. - In 2020, the company proposed a cash dividend of 0.12 RMB per share, maintaining a stable dividend policy with a payout ratio of 20.47% of net profit[93]. - The company plans to conduct annual cash dividends, with the possibility of mid-term dividends based on profitability and funding needs[92]. Risk Management - The company emphasizes that forward-looking statements in the report do not constitute substantive commitments to investors, highlighting investment risks[6]. - The company has detailed risk factors related to its future development in the report, urging stakeholders to review the relevant sections[10]. - The company faces risks from industry cycle fluctuations and the impact of the COVID-19 pandemic, which could adversely affect production and profitability[83]. - The company’s foreign sales accounted for 21.08% of its main business revenue in 2020, exposing it to risks from trade barriers and currency fluctuations[84]. Corporate Governance - The company’s board of directors and senior management guarantee the authenticity and completeness of the annual report, with no false records or misleading statements[10]. - The company has committed to fair and transparent transactions with related parties, ensuring compliance with legal and regulatory requirements[95]. - The company’s profit distribution plan is subject to independent directors' opinions and must facilitate public participation in the voting process[92]. - The company’s board approved the proposal for related party transactions, including the collection and payment of electricity fees for related parties[101]. Research and Development - The company focuses on the automotive energy-saving and environmental protection sector, particularly in automotive thermal management and engine energy-saving components, aiming for innovation and breakthroughs[79]. - The company has over 300 patents related to automotive thermal management systems, including nearly 30 invention patents[44]. - Research and development expenses rose to ¥91,400,706.16, a 42.09% increase year-over-year, primarily due to increased R&D investment[61]. - The company aims to enhance its hydrogen fuel cell business by deepening cooperation with New Source Power and increasing R&D investment in core components[80]. Market Position and Strategy - The company aims to expand its product applications in new energy vehicles, leveraging its advantages in automotive thermal management systems[37]. - The company is strategically positioned to benefit from the growing market for hydrogen fuel cells and their core components[37]. - The automotive thermal management system components industry is expected to experience a prosperous phase with both volume and price increases due to favorable policies for new energy vehicles[77]. - The company has established long-term partnerships with major automotive manufacturers, enhancing its competitive edge in the industry[43]. Financial Management - The company reported a significant increase in fair value of financial assets, with a change of 139,543,371.03 RMB during the reporting period[34]. - The company has engaged in entrusted financial management, with a total amount of CNY 471,960,000, including CNY 175,960,000 in principal-protected investments and CNY 296,000,000 in non-principal-protected investments[109]. - The annualized return rate for entrusted financial management ranges from 1.3% to 5.28%[112]. - The company has successfully recovered all entrusted financial management amounts, with no overdue amounts reported[112]. Environmental Responsibility - The company is not classified as a key pollutant discharge unit and has implemented environmentally friendly production processes to minimize pollution[129]. - The company obtained an environmental impact assessment approval on September 21, 2017, and a completion acceptance letter on May 3, 2018[129]. - The company conducts annual environmental monitoring through a qualified third party, with all results meeting standards[131]. - The company passed the ISO 14001:2015 environmental management system audit in December 2020[131]. Employee Management - The total number of employees in the parent company is 606, while the total number of employees in major subsidiaries is 2,776, resulting in a combined total of 3,382 employees[157]. - The company has implemented a salary policy that includes basic salary and performance-based pay, with different levels of salary standards set according to career paths[159]. - The company completed 124 training projects in 2020, achieving a completion rate of 100%[160]. - The company established a comprehensive evaluation and incentive mechanism for senior management, based on project completion and performance indicators[169].

Financial Performance - Total revenue for Q1 2021 reached CNY 486,111,765.74, an increase of 75.69% compared to the same period last year[5] - Net profit attributable to shareholders was CNY 40,625,518.86, reflecting a growth of 66.42% year-on-year[5] - Basic earnings per share increased to CNY 0.21, up 75.00% from CNY 0.12 in the previous year[5] - The company reported a total comprehensive income of ¥53,576,030.70 for Q1 2021, compared to ¥29,995,692.99 in Q1 2020[24] - Net profit for Q1 2021 was ¥55,751,674.57, representing a 84.6% increase from ¥30,157,465.07 in Q1 2020[24] - The net profit attributable to shareholders of the parent company was ¥45,033,297.27, up 75.0% from ¥25,733,096.22 in Q1 2020[24] - Operating profit for Q1 2021 reached ¥20,423,086, up from ¥1,605,397 in Q1 2020, marking a growth of 1,272.5%[27] - Net profit for Q1 2021 was ¥19,700,132, compared to ¥1,191,062 in Q1 2020, representing a year-over-year increase of 1,553.5%[27] Cash Flow - Net cash flow from operating activities was negative at CNY -16,348,186.32, a decline of 152.79% compared to the same period last year[5] - Cash flow from operating activities showed a net outflow of ¥16,348,186 in Q1 2021, a decline from a net inflow of ¥30,968,877 in Q1 2020[29] - The net cash flow from operating activities for Q1 2021 was ¥25,967,573.30, a decrease of 5.8% compared to ¥27,583,230.83 in Q1 2020[30] - The net cash flow from financing activities in Q1 2021 was a negative ¥53,747,014, compared to a negative ¥2,735,035 in Q1 2020[29] - The net cash flow from investing activities was -¥18,047,965.71, an improvement from -¥48,248,550.85 in Q1 2020[30] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,959,015,948.65, a decrease of 1.04% from the end of the previous year[5] - Total liabilities decreased to CNY 1,483,749,474.72, down 5.03% from CNY 1,562,547,237.62[17] - Current assets totaled CNY 1,665,173,863.39, down 2.83% from CNY 1,713,623,727.82 at the end of 2020[15] - Total liabilities amounted to ¥1,184,081,298.27, compared to ¥1,152,051,347.75 at the end of Q1 2020[23] - Total assets as of March 31, 2021, were ¥2,990,237,680.85, a slight decrease from ¥3,006,242,138.00 at the end of 2020[32] Shareholder Information - The number of shareholders at the end of the reporting period was 10,468[9] - The largest shareholder, Tenglong Technology Group Co., Ltd., held 31.46% of the shares, with 43,300,000 shares pledged[9] - Shareholders' equity increased to CNY 1,475,266,473.93, up 3.32% from CNY 1,427,690,443.23[17] - The company's total equity remained stable at ¥1,427,690,443.23 as of March 31, 2021[34] Operating Costs and Expenses - The gross profit margin decreased due to an increase in operating costs, with operating costs rising to RMB 338,734,513.86, an 83.11% increase from RMB 184,985,533.24 in the previous year[12] - Research and development expenses increased by 53.51% to RMB 22,277,303.86, up from RMB 14,512,004.17 in Q1 2020, indicating a focus on innovation[12] - The company’s management expenses increased by 31.15% to RMB 32,320,912.93, attributed to new leasing standards and increased employee compensation[12] - The company incurred financial expenses of ¥10,536,739 in Q1 2021, compared to ¥5,038,014 in Q1 2020, indicating a rise of 109.4%[27] Future Outlook - The company has not disclosed any new product developments or market expansion strategies in this report[5] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[23] - The company is in the process of a non-public offering of A-shares, which was approved by the board and is pending completion[13]

Financial Performance - The company's operating revenue for 2020 was CNY 1,771,918,363.05, representing a 71.44% increase compared to CNY 1,033,542,443.10 in 2019[22]. - The net profit attributable to shareholders for 2020 was CNY 155,824,034.98, which is a 27.77% increase from CNY 121,956,631.68 in 2019[22]. - The basic earnings per share for 2020 was CNY 0.73, reflecting a 28.07% increase from CNY 0.57 in 2019[23]. - The total assets at the end of 2020 amounted to CNY 2,990,237,680.85, a 21.89% increase from CNY 2,453,156,484.28 in 2019[22]. - The cash flow from operating activities for 2020 was CNY 165,161,129.58, which is a 54.44% increase compared to CNY 106,940,966.62 in 2019[22]. - The net profit after deducting non-recurring gains and losses for 2020 was CNY 140,753,062.70, a 21.21% increase from CNY 116,126,263.62 in 2019[22]. - The company reported a diluted earnings per share of CNY 0.73 for 2020, consistent with the basic earnings per share[23]. - The weighted average return on equity for 2020 was 13.88%, an increase of 1.73 percentage points from 12.15% in 2019[23]. - The company achieved a quarterly revenue of CNY 655,967,462.46 in Q4 2020, marking a significant contribution to the annual revenue[26]. - The company reported a net profit for 2020 of CNY 188,498,100, representing a 38.96% increase from CNY 135,650,700 in 2019[47]. Shareholder Returns - The company plans to distribute 4 bonus shares for every 10 shares held and pay a cash dividend of 1.5 RMB (including tax), with a total cash dividend of approximately 31,891,680 RMB, accounting for 20.47% of the net profit attributable to shareholders for the year[5]. - The company implemented a cash dividend policy, prioritizing cash distributions when conditions are met, with a minimum of 25% of distributable profits allocated for cash dividends after covering losses and reserves[86]. - In 2020, the company distributed a cash dividend of 0.12 yuan per share, totaling 25.51 million yuan, based on 212,611,200 shares[89]. - The company aims for a minimum cash dividend ratio of 80% for mature stages without significant capital expenditures, and 40% if there are major expenditures[87]. - The company has not proposed a cash dividend plan for the reporting period despite positive profits available for distribution, which requires detailed disclosure of reasons and plans for undistributed profits[91]. - The company’s cash dividend distribution is subject to the condition that the previous year's distributable profit is positive and the audit report is unqualified[85]. Investments and Acquisitions - The company invested 226.6 million to acquire 4.12 million shares of New Source Power, increasing its total holdings to 45.2 million shares[38]. - The company became the largest shareholder of New Source Power, enhancing its influence in the hydrogen fuel cell industry and contributing to revenue growth for New Source Power[45]. - The company completed a non-public stock issuance to fund projects including the expansion of automotive air conditioning pipelines in Poland and the establishment of a European R&D center[45]. - The acquisition of Beijing Tianyuan led to rapid revenue growth, with strategic integration improving operational efficiency and sales performance[46]. Research and Development - The company reported a significant increase in research and development expenses, totaling CNY 91,400,706.16, which is a 42.09% rise compared to the previous year[48]. - The company has over 300 patents related to automotive thermal management systems, demonstrating its technological and quality control advantages[41]. - The company has set up 14 R&D, manufacturing, or service bases across China, supporting its domestic and international market expansion[40]. - The company is committed to increasing R&D investment in new environmentally friendly refrigerants and improving production efficiency through automation[79]. Market Position and Strategy - The company aims to expand its product applications in new energy vehicles, leveraging its advantages in automotive thermal management systems[34]. - The company plans to capitalize on the opportunities presented by the implementation of the National VI emission standards, which will drive demand for energy-saving and environmentally friendly automotive components[37]. - The company has established long-term partnerships with major automotive manufacturers, including Honda, Volvo, and Ford, enhancing its customer resource advantage[40]. - The company is focusing on both organic growth and external expansion strategies to enhance its market position[34]. - The company is preparing for the market explosion following the implementation of National VI standards, focusing on expanding its EGR system and sensor product lines[78]. Financial Management and Risks - The company faces risks from macroeconomic fluctuations, resource and environmental policy changes, and raw material price volatility, which could impact production costs and profitability[80][81]. - The company benefits from a 15% preferential tax rate as a recognized high-tech enterprise, but future changes in tax policy or qualification reviews could affect its financial performance[81]. - The company has a goodwill balance of 188.16 million yuan due to equity acquisitions, which poses a risk of impairment if subsidiary performance does not meet expectations[82]. - The company plans to enhance post-merger management and control, track subsidiary performance, and strengthen internal management to mitigate the impact of goodwill on future performance[82]. Corporate Governance - The company has received a standard unqualified audit report from Zhongtianyun Accounting Firm[4]. - The company has not violated decision-making procedures for providing guarantees or faced issues with board members ensuring the accuracy of the annual report[9]. - The company has a structured approach to communicate with shareholders, especially minority shareholders, to gather feedback on dividend proposals[89]. - The governance structure includes a board of directors, supervisory board, and management team, with clear delineation of responsibilities and decision-making processes[162]. Environmental Responsibility - The company is not classified as a key pollutant discharge unit and has implemented environmentally friendly production processes to minimize pollution[128]. - The company obtained an environmental impact assessment approval on September 21, 2017, and a completion acceptance letter on May 3, 2018[128]. - The company conducts annual environmental monitoring through a qualified third party, with all results meeting standards[130]. - The company passed the ISO 14001:2015 environmental management system audit in December 2020[130]. Employee Management - The total number of employees in the parent company and major subsidiaries is 3,382, with 606 in the parent company and 2,776 in subsidiaries[156]. - The company has implemented a salary policy that includes basic salary and performance-based pay, aimed at enhancing employee motivation[158]. - The company completed 124 training projects in 2020, achieving a completion rate of 100%, with 12 onboarding sessions for 199 new employees and 112 internal and external training sessions for 2,158 participants[159].

Financial Performance - Net profit attributable to shareholders rose by 26.84% to CNY 99,980,599.01 for the first nine months of the year[6]. - Operating revenue for the first nine months reached CNY 1,115,950,900.59, marking a 65.34% increase year-on-year[6]. - Basic and diluted earnings per share increased by 30.56% to CNY 0.47[7]. - Total operating revenue for Q3 2020 reached ¥435.23 million, a significant increase of 81.67% compared to ¥239.66 million in Q3 2019[26]. - Net profit for Q3 2020 was ¥50.90 million, representing a 47.93% increase from ¥34.43 million in Q3 2019[27]. - The total profit for Q3 2020 was ¥55.38 million, up 46.66% from ¥37.78 million in Q3 2019[27]. - The total comprehensive income for Q3 2020 was ¥48.99 million, an increase of 41.57% from ¥34.63 million in Q3 2019[28]. Assets and Liabilities - Total assets increased by 18.92% to CNY 2,917,171,917.15 compared to the end of the previous year[6]. - The total amount of financial assets increased significantly to CNY 113,059,072.01, up 769.69% from CNY 13,000,000.00, due to an increase in wealth management products[14]. - Long-term equity investments amounted to CNY 245,324,546.13, reflecting the acquisition of a 40.36% stake in New Source Power[14]. - Total liabilities reached CNY 1,559,199,626.06, compared to CNY 1,187,940,946.48, indicating a rise of approximately 31.2%[20]. - Current liabilities rose to CNY 1,351,055,430.15 from CNY 1,100,170,257.73, reflecting a growth of approximately 22.8%[19]. - Owner's equity totaled CNY 1,357,972,291.09, up from CNY 1,265,215,537.80, representing an increase of about 7.3%[20]. Cash Flow - Net cash flow from operating activities for the first nine months was CNY 144,611,317.59, a slight increase of 0.54% compared to the same period last year[6]. - Cash flow from financing activities for the first three quarters of 2020 was CNY 261,486,270.55, a 149.14% increase from CNY 104,957,298.85 in the same period of 2019, mainly due to increased borrowings[14]. - The net cash flow from financing activities was ¥277,086,770.55, up from ¥99,307,298.85 in the previous year, showing an increase of approximately 178.5%[37]. - The ending cash and cash equivalents balance increased to ¥221,906,910.50 from ¥76,676,269.84 year-over-year, representing a growth of about 189.5%[38]. Shareholder Information - The total number of shareholders reached 10,684, with the top ten shareholders holding a combined 68.46% of shares[11]. - The largest shareholder, Tenglong Technology Group Co., Ltd., holds 31.46% of shares, with 43,300,000 shares pledged[11]. Expenses - The company reported a 102.34% increase in selling expenses, totaling CNY 53,119,768.81, primarily due to the consolidation of Beijing Tianyuan Company[14]. - The company’s financial expenses rose by 129.41% to CNY 21,166,652.80, driven by increased borrowings and interest expenses[14]. - Research and development expenses increased by 37.26% to CNY 57,382,804.25, reflecting ongoing investments in innovation and product development[14]. Regulatory and Accounting Changes - The company announced the approval of a non-public offering of A-shares by the China Securities Regulatory Commission on October 26, 2020[15]. - The company is implementing new revenue recognition standards effective January 1, 2020, impacting financial reporting[41]. - The company did not make any adjustments to prior period comparative data under the new accounting standards[47].

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 680,723,100.39, representing a 56.39% increase compared to CNY 435,285,467.03 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was CNY 59,576,709.46, up 25.16% from CNY 47,599,675.42 in the previous year[17]. - The net cash flow from operating activities reached CNY 102,556,144.23, a significant increase of 95.74% compared to CNY 52,394,574.76 in the same period last year[17]. - Basic earnings per share for the first half of 2020 were CNY 0.28, a 27.27% increase from CNY 0.22 in the same period last year[18]. - The company reported a net profit of CNY 55,468,473.91 after deducting non-recurring gains and losses, which is a 24.61% increase from CNY 44,515,421.00 in the previous year[17]. - The diluted earnings per share also stood at CNY 0.28, consistent with the basic earnings per share, indicating strong performance[18]. - The total profit for the first half of 2020 was CNY 85,475,339.31, representing a 50.8% increase from CNY 56,826,085.13 in the same period of 2019[86]. - The total comprehensive income for the first half of 2020 was CNY 74,648,452.84, up from CNY 51,940,457.90 in the same period of 2019, reflecting overall growth[86]. Assets and Liabilities - The total assets of the company at the end of the reporting period were CNY 2,665,091,566.94, an increase of 8.64% from CNY 2,453,156,484.28 at the end of the previous year[17]. - The company's total liabilities were CNY 1,346,914,013.12, which is an increase from CNY 1,187,940,946.48, showing a growth of around 13.4%[78]. - The company's total current assets reached CNY 1,493,818,922.04, up from CNY 1,407,196,062.66, indicating an increase of about 6.1%[76]. - The company's total non-current assets amounted to CNY 1,171,272,644.90, an increase from CNY 1,045,960,421.62, indicating a growth of about 12.0%[77]. - The company's total equity attributable to shareholders was CNY 1,095,787,909.12, up from CNY 1,060,616,546.59, indicating a growth of about 3.3%[78]. Market and Industry Trends - The automotive industry showed signs of recovery in Q2 2020, with domestic vehicle production and sales reaching 1,011.2 million and 1,025.7 million units respectively, marking a year-on-year increase of 22.5% and 11.6%[26]. - The global shift towards electric vehicles presents a significant market opportunity for the company's thermal management products, which are critical for new energy vehicles[27]. - The implementation of the National VI emission standards is expected to drive demand for energy-saving automotive components, such as EGR systems and temperature sensors[27]. - The company aims to expand its product applications in new energy vehicles, leveraging its advantages in automotive thermal management systems[24]. Research and Development - The company holds nearly 260 patents in automotive thermal management systems, including over 20 invention patents[30]. - Research and development expenses increased to CNY 33,455,333.60, compared to CNY 29,944,721.42 in the previous year, reflecting a growth of 11.8%[84]. - The company plans to increase investment in hydrogen fuel cell technology through its major shareholding in New Source Power, aiming for deeper collaboration[33]. Cash Flow and Financing - The company reported a significant increase in cash flow from operating activities, reaching CNY 102.56 million, a 95.74% rise compared to the previous year[37]. - Cash inflow from financing activities reached CNY 563,466,160.00, significantly higher than CNY 290,000,000.00 in the same period last year, representing an increase of approximately 94.2%[96]. - The net increase in cash and cash equivalents was CNY 65,319,820.61, a recovery from a slight decrease of CNY -182,040.24 in the same period last year[96]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 8,841[66]. - The largest shareholder, Tenglong Technology Group Co., Ltd., holds 83,520,840 shares, representing 38.49% of the total shares[67]. - Shareholder Jiang Yilin reduced her holdings by 2,770,000 shares, holding a total of 37,230,000 shares, which is 17.16% of the total[67]. Compliance and Governance - The company has not experienced any major litigation or arbitration matters during the reporting period[53]. - The company has renewed its appointment of Zhongtianyun Accounting Firm for the 2020 financial and internal control audit[53]. - The company has committed to not engaging in competitive activities that threaten its main business, ensuring compliance with industry regulations[50]. Environmental and Social Responsibility - The company has implemented a "rainwater and sewage diversion" system, ensuring that all production wastewater is treated before being discharged into the municipal sewage system[60]. - The company has established wastewater treatment facilities that are operating effectively, contributing to its compliance with environmental standards[61]. - The company plans to donate up to 300,000 yuan to various public welfare organizations by the end of the first half of 2020, but this plan has not yet been fulfilled[57].