2020 年第一季度报告 公司代码：603158 公司简称：腾龙股份 常州腾龙汽车零部件股份有限公司 2020 年第一季度报告 1 / 24 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 6 | | 四、 | 附录 8 | 2020 年第一季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 | | | | 单位：元 币种：人民币 | | | --- | --- | --- | --- | --- | | | 本报告期末 | 上年度末 | 本报告期末比上年度 | | | | | | 末增减(%) | | | 总资产 | 2,406,158,910.75 | 2,453,156,484.28 | | -1.92 | | 归属于上市公司股东的净 | 1,086,187,870.73 | 1,060,616,546.59 | | 2.41 | | 资产 | | | | | | | 年初至报告期末 | 上年初至上年报告期末 | 比上年同期增减(%) | | | 经营活动产生的现金流量 | 30,968,877.40 | 10,16 ...

Financial Performance - The company's operating revenue for 2019 was CNY 1,033,542,443.10, representing a 1.49% increase compared to CNY 1,018,362,309.13 in 2018[21] - The net profit attributable to shareholders of the listed company was CNY 121,956,631.68, reflecting a 4.28% increase from CNY 116,950,289.73 in the previous year[21] - The net profit after deducting non-recurring gains and losses was CNY 116,126,263.62, which is a significant increase of 31.43% compared to CNY 88,358,806.41 in 2018[21] - Basic earnings per share increased by 5.56% to CNY 0.57 compared to CNY 0.54 in the previous year[22] - The weighted average return on equity rose by 0.46 percentage points to 12.15% from 11.69% in the previous year[22] - The net profit attributable to shareholders for Q4 2019 was CNY 43,130,515.47, marking a significant increase from CNY 31,226,440.79 in Q3 2019[25] - Net profit for 2019 was CNY 135,650,700.00, an increase of 8.35% from CNY 125,192,300.00 in 2018[45] Assets and Liabilities - The total assets of the company reached CNY 2,453,156,484.28 at the end of 2019, marking a 52.00% increase from CNY 1,613,905,308.75 at the end of 2018[21] - The company's net assets attributable to shareholders increased to CNY 1,060,616,546.59 by the end of 2019, an 8.23% increase from CNY 980,005,413.93 at the end of 2018[21] - Total liabilities increased to CNY 1,187,940,946.48 in 2019, up from CNY 547,449,944.64 in 2018, representing a growth of 116.7%[179] - Current liabilities totaled CNY 1,100,170,257.73 in 2019, a significant rise from CNY 434,703,740.81 in 2018, reflecting a growth of 153.5%[179] - The company's total equity attributable to shareholders increased to CNY 1,060,616,546.59 in 2019, up from CNY 980,005,413.93 in 2018, reflecting an increase of 8.2%[180] Cash Flow - The company's cash flow from operating activities was CNY 106,940,966.62, showing a decrease of 16.86% from CNY 128,632,868.46 in 2018[21] - The net cash flow from operating activities for Q3 2019 was CNY 91,437,241.50, while Q4 2019 showed a negative cash flow of CNY -36,890,849.64[25] - Cash flow from operating activities decreased by 16.86% to CNY 106,940,966.62, mainly due to payments to suppliers[59] - Cash flow from investing activities worsened by 297.64% to -CNY 292,071,372.03, primarily due to the acquisition of Beijing Tianyuan[59] - Cash flow from financing activities increased significantly by 1,168.81% to CNY 174,112,462.57, mainly due to increased borrowings[59] Research and Development - Research and development expenses rose by 7.04% to CNY 64,326,779.81[47] - The company has nearly 250 patents in automotive thermal management systems, including over 20 invention patents[38] - The company aims to enhance its technical capabilities in the energy-saving and environmental protection sector through increased R&D investment and talent development[42] Market Strategy and Expansion - The company aims to expand its product applications in new energy vehicles, leveraging its existing advantages in automotive thermal management systems[31] - The company plans to actively explore future development opportunities in automotive engine energy-saving and environmental protection products following the implementation of the National VI emission standards[31] - The company is focusing on the hydrogen fuel cell market and its core components, utilizing synergies from its hydrogen energy and new power sources[31] - The company has established overseas marketing centers and production bases to enhance its international market expansion efforts[31] - The company continues to implement a strategy of both organic growth and external expansion[31] Dividend Policy - The proposed cash dividend is CNY 1.2 per 10 shares, amounting to an estimated total of CNY 25,513,344 (including tax) based on the total share capital of 216,971,200 shares[5] - For the fiscal year 2019, the company reported a net profit attributable to ordinary shareholders of RMB 121,956,631.68, with a cash dividend payout ratio of 20.92%[89] - The company aims to maintain a minimum cash dividend ratio of 80% for mature companies without significant capital expenditure plans[85] Corporate Governance - The financial report has been audited and received a standard unqualified opinion from the accounting firm[4] - The company has established a sound internal control system to protect the rights of shareholders and stakeholders[115] - The board of directors held 11 meetings during the reporting period, with all directors present at each meeting[154] - Independent directors actively participated in decision-making and provided independent opinions on profit distribution and changes in accounting firms[156] Social Responsibility - The company maintained a good operating performance while fulfilling social responsibilities, aiming to be a respected benchmark enterprise in the industry[115] - The company made a donation of 150,000 yuan to the Wujin Guangcai Charity Promotion Association in 2019[111] - The total amount donated for poverty alleviation efforts was 190,000 yuan in 2019[113] Risks and Challenges - The company faces risks from industry cycle fluctuations and the impact of the COVID-19 pandemic on automotive consumption[77] - The company’s overseas sales accounted for approximately 23.83% of its main business revenue in 2019, exposing it to trade barriers and exchange rate fluctuations[78] - The goodwill from acquisitions amounted to 188.16 million yuan, posing a risk of impairment if subsidiary performance does not meet expectations[79]

Financial Performance - Net profit attributable to shareholders decreased by 4.28% to CNY 78,826,116.21 for the first nine months of the year[6]. - Operating revenue for the first nine months decreased by 8.51% to CNY 674,945,677.34 compared to the same period last year[6]. - Basic earnings per share decreased by 5.26% to CNY 0.36[7]. - Total revenue for Q3 2019 was CNY 239,660,210.31, an increase from CNY 221,973,391.02 in Q3 2018, representing a growth of approximately 8.0%[28]. - The net profit attributable to the parent company for Q3 2019 was CNY 31,226,440.79, up from CNY 27,249,088.75 in Q3 2018, reflecting a year-over-year increase of about 10.9%[31]. - The total profit for Q3 2019 was CNY 37,781,377.88, compared to CNY 34,369,153.96 in Q3 2018, indicating a growth of approximately 11.1%[30]. - The company's total comprehensive income for Q3 2019 was CNY 34,634,560.86, compared to CNY 29,563,588.95 in Q3 2018, reflecting a growth of about 17.2%[30]. - The company's total liabilities increased to CNY 679,623,467.69 from CNY 547,449,944.64 in the previous year, indicating a rise of approximately 24%[22]. Cash Flow - Net cash flow from operating activities decreased by 9.78% to CNY 143,831,816.26 for the first nine months[6]. - Cash flow from investment activities showed a net outflow of RMB 254,658,069.29, a decrease of 200.11% compared to the previous year[14]. - Cash flow from financing activities increased by 261.32% to RMB 104,957,298.85, primarily due to increased borrowings[14]. - Cash inflow from financing activities rose sharply to CNY 507,815,300.00, a 434.5% increase from CNY 95,000,000.00 in the previous year[38]. - Net cash flow from financing activities was CNY 99,307,298.85, recovering from a negative CNY -76,859,673.90 in the same period of 2018[38]. - Cash outflow from investment activities significantly increased to CNY 261,786,197.91, up 96.7% from CNY 132,866,450.74 in the previous year[37]. Assets and Liabilities - Total assets increased by 11.40% to CNY 1,797,867,274.01 compared to the end of the previous year[6]. - Current assets totaled CNY 883,177,087.62, down from CNY 922,728,134.96 at the end of 2018, reflecting a decrease of about 4.3%[20]. - The company's equity attributable to shareholders reached CNY 1,017,573,223.03, up from CNY 980,005,413.93, indicating a growth of about 3.8%[22]. - The non-current assets totaled CNY 914,690,186.39, an increase from CNY 691,177,173.79, reflecting a growth of approximately 32.4%[21]. - Total liabilities rose to CNY 565,466,073.40 from CNY 377,193,287.48, indicating an increase of approximately 50.0%[26]. - The company's total liabilities to equity ratio increased, indicating a higher leverage position for the company compared to the previous year[22]. Shareholder Information - The total number of shareholders reached 8,162 as of the report date[11]. - The largest shareholder, Tenglong Technology Group Co., Ltd., holds 46.36% of the shares[11]. Investment Activities - The company plans to acquire 76% of Tianyuan Aote for RMB 39.68 million to enhance its industry chain[14]. - The company signed a letter of intent to acquire 17.86% of New Source Power for a maximum of RMB 110 million, aiming to strengthen its business layout[15]. - The company reported a foreign exchange gain of CNY 205,888.63 in Q3 2019, compared to a gain of CNY 878,269.44 in Q3 2018, indicating a decrease in foreign exchange earnings[30]. Research and Development - Research and development expenses for Q3 2019 were CNY 11,860,935.44, compared to CNY 14,710,398.48 in Q3 2018, showing a decrease of about 19.0%[28]. - Research and development expenses for Q3 2019 amounted to CNY 5,947,654.19, compared to CNY 5,535,143.27 in Q3 2018, which is an increase of approximately 7.5%[31]. Tax and Financial Adjustments - The company’s income tax expense decreased by 57.61% to RMB 8,910,713.69, attributed to a lower tax rate from obtaining high-tech enterprise status[14]. - The company executed a reclassification of financial assets under new financial standards, impacting retained earnings and other comprehensive income without restating prior periods[42]. - The company’s retained earnings were adjusted in accordance with the new financial instrument accounting standards, affecting the financial reporting from Q1 2019 onwards[46].

Financial Performance - The company's operating revenue for the first half of 2019 was ¥435,285,467.03, a decrease of 15.61% compared to ¥515,780,468.91 in the same period last year[19] - The net profit attributable to shareholders for the first half of 2019 was ¥47,599,675.42, down 13.62% from ¥55,103,979.23 in the previous year[19] - Basic earnings per share for the first half of 2019 were ¥0.22, a decrease of 15.38% compared to ¥0.26 in the same period last year[20] - The weighted average return on net assets was 4.82%, down 0.59 percentage points from 5.41% in the previous year[20] - The company achieved operating revenue of 435.29 million yuan, a decrease of 15.61% compared to the same period last year[34] - The net profit attributable to shareholders of the listed company was approximately 67.32 million yuan, reflecting a significant decline due to various factors[34] - Net profit for the second quarter remained flat compared to the same period last year, indicating a significant improvement in profitability[35] - The company reported a total profit for the first half of 2019 of CNY 18,025,287.01, down from CNY 29,232,326.37 in the same period of 2018[106] Cash Flow and Liquidity - The net cash flow from operating activities increased by 1.45% to ¥52,394,574.76 compared to ¥51,647,852.50 in the same period last year[19] - The company reported a decrease in cash and cash equivalents, reflecting a reduction in liquidity[99] - Cash flow from operating activities generated CNY 52,394,574.76, slightly up from CNY 51,647,852.50 in the first half of 2018[108] - The ending balance of cash and cash equivalents was 145,522,935.06 RMB, compared to 73,123,082.81 RMB at the end of the first half of 2018, reflecting an increase of 99%[112] - The company experienced a significant increase in financial expenses, which rose to CNY 5,369,711.95 from CNY 3,734,458.17, marking a 43.8% increase[105] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,682,245,200.12, reflecting a 4.23% increase from ¥1,613,905,308.75 at the end of the previous year[19] - The company's retained earnings reached ¥506,112,189.04, up from ¥488,288,273.62, showing an increase of about 3.4%[94] - Total liabilities increased to ¥603,706,320.80, compared to ¥547,449,944.64, indicating a rise of approximately 10.3%[93] - The company's total assets as of June 30, 2019, amounted to CNY 1,294,394,196.87, an increase from CNY 1,243,005,284.75 at the end of 2018[99] Research and Development - The company has increased its R&D expenses by 11.89% to ¥29.94 million, focusing on thermal management products for new energy vehicles[40] - The company maintains a strong focus on R&D in automotive air conditioning and heat exchange systems, with a well-established production management system[24] - Research and development expenses increased to CNY 29,944,721.42, up 11.5% from CNY 26,763,369.31 year-on-year[101] Market and Industry Trends - The automotive industry in China saw a decline in production and sales, with total vehicle production and sales down 13.7% and 12.4% year-on-year, respectively[26] - New energy vehicle sales grew significantly, with production and sales increasing by 48.5% and 49.6% year-on-year, highlighting a shift in market demand[26] - The company anticipates stable growth in the automotive industry, particularly in the new energy vehicle sector, which will drive future product development and technological advancements[27] Strategic Initiatives - The company established a pipeline factory in Malaysia through its wholly-owned subsidiary, indicating a strategic move for market expansion[28] - The company has made strategic investments in the new energy sector, including a 3.57% stake in New Source Power for ¥22 million[46] - The company has expanded its market presence by targeting high-end and overseas customers despite an overall decline in automotive sales[36] Environmental and Social Responsibility - The company has implemented a wastewater treatment facility that operates effectively, ensuring compliance with environmental standards[70] - The company plans to continue its social responsibility efforts by supporting impoverished students and considering the establishment of production bases in underdeveloped regions[68] - In the first half of 2019, the company donated a total of 150,000 RMB to local charitable organizations and educational funds[64] Governance and Compliance - The company has not disclosed any plans for new products or technologies in this report[5] - There are no significant risks or non-operational fund occupation issues reported by the controlling shareholders[5] - The company has committed to not engaging in competitive activities that threaten its main business during the reporting period[55] Shareholder Information - The largest shareholder, Tenglong Technology Group Co., Ltd., holds 100,585,300 shares, representing 46.36% of total shares[83] - The total number of common stock shareholders reached 8,517 by the end of the reporting period[81] - The company reported a total of 162.88 million shares under restricted stock incentive plans, with no shares released during the reporting period[83] Accounting and Financial Reporting - The company has made adjustments to its financial reporting in accordance with new financial instrument standards effective January 1, 2019, impacting various financial statement items[72] - The financial statements are prepared on a going concern basis, with no significant doubts regarding the company's ability to continue operations for the next 12 months[130] - The company adheres to accounting policies for bad debt provisions, fixed asset depreciation, intangible asset amortization, and revenue recognition[131]

Financial Performance - Operating revenue fell by 16.80% to CNY 214,766,647.97 year-on-year[6] - Net profit attributable to shareholders decreased by 29.49% to CNY 16,966,685.96 compared to the same period last year[6] - Basic and diluted earnings per share decreased by 33.33% to CNY 0.08[6] - The company reported a significant decline in both revenue and profit, indicating challenges in the current market environment[6] - Total operating revenue for Q1 2019 was CNY 214,766,647.97, a decrease of 16.8% compared to CNY 258,128,066.27 in Q1 2018[26] - The net profit for Q1 2019 was CNY 4,873,676.24, down 44.5% from CNY 8,714,063.35 in Q1 2018[31] - The company's operating revenue for Q1 2019 was CNY 116,921,836.53, a decrease of 9.2% compared to CNY 128,809,964.83 in Q1 2018[30] - The total comprehensive income for Q1 2019 was CNY 4,873,676.24, compared to CNY 8,714,063.35 in Q1 2018, indicating a decline of 44.5%[31] Cash Flow - Cash flow from operating activities dropped by 61.63% to CNY 10,165,173.12 year-on-year[6] - Net cash flow from operating activities decreased by 61.63% from CNY 26,491,245.08 to CNY 10,165,173.12 due to a decrease in received payments[14] - The net cash flow from operating activities was negative at -¥7,888,397.33, compared to a positive flow of ¥8,146,420.76 in the same quarter last year[37] - The company reported a net cash outflow of ¥42,029,762.78 for the quarter, worsening from a net outflow of ¥35,554,069.42 in Q1 2018[37] - Cash inflows from financing activities totaled ¥32,400,000.00, significantly higher than ¥12,880,000.00 in Q1 2018[35] - The net cash flow from financing activities was negative at -¥33,891,398.46, compared to a positive flow of ¥9,992,707.77 in the previous year[35] Assets and Liabilities - Total assets decreased by 3.08% to CNY 1,564,217,996.04 compared to the end of the previous year[6] - The company's current assets totaled CNY 874,672,318.98, down from CNY 922,728,134.96 in the previous period, indicating a decline of approximately 5.2%[19] - The total liabilities decreased to CNY 484,385,378.70 from CNY 547,449,944.64, showing a reduction of approximately 11.5%[20] - The company's equity attributable to shareholders rose to CNY 991,058,294.04 from CNY 980,005,413.93, an increase of about 1.1%[21] - Total liabilities decreased to CNY 319,427,642.43 from CNY 377,193,287.48, representing a decline of 15.3%[24] - Shareholders' equity totaled CNY 863,991,977.48, a slight decrease from CNY 865,811,997.27[24] Shareholder Information - The total number of shareholders reached 7,455 at the end of the reporting period[10] - The largest shareholder, Tenglong Technology Group Co., Ltd., holds 46.01% of the shares[11] Expenses and Costs - Total operating costs for Q1 2019 were CNY 192,240,170.76, down 15.0% from CNY 226,163,265.17 in Q1 2018[26] - Operating costs specifically decreased from CNY 182,558,953.88 in Q1 2018 to CNY 146,785,840.01 in Q1 2019, reflecting a reduction of 19.6%[26] - Financial expenses increased by 134.63% from CNY 2,571,428.56 to CNY 6,033,469.42 due to increased loan interest and exchange rate fluctuations[14] - Research and development expenses increased to CNY 4,970,782.52, up from CNY 4,630,513.21 in the previous year, reflecting a growth of 7.4%[30] - Financial expenses rose significantly to CNY 4,900,369.44, compared to CNY 2,509,732.84 in Q1 2018, marking an increase of 95.2%[30] Other Financial Metrics - The weighted average return on equity decreased by 0.65 percentage points to 1.82%[6] - Non-recurring gains and losses totaled CNY 974,797.34 for the period[9] - Other income increased by 35.54% from CNY 695,595.73 to CNY 942,790.25 due to an increase in government subsidies received[14] - The company's gross profit margin decreased to 23.5% in Q1 2019 from 23.8% in Q1 2018[30] - Earnings per share (EPS) for Q1 2019 was CNY 0.08, down from CNY 0.12 in Q1 2018[28]

Financial Performance - The company's operating revenue for 2018 was CNY 1,018,362,309.13, representing a year-on-year increase of 12.65% compared to CNY 904,007,078.27 in 2017[19]. - The net profit attributable to shareholders of the listed company decreased by 10.60% to CNY 116,950,289.73 in 2018 from CNY 130,817,720.32 in 2017[19]. - The basic earnings per share for 2018 was CNY 0.54, down 11.48% from CNY 0.61 in 2017[20]. - The weighted average return on equity decreased to 11.69% in 2018, down 2.31 percentage points from 14.00% in 2017[20]. - The net cash flow from operating activities was CNY 128,632,868.46, a decrease of 14.60% compared to CNY 150,630,350.58 in 2017[19]. - The total assets at the end of 2018 were CNY 1,613,905,308.75, reflecting a year-on-year increase of 5.95% from CNY 1,523,258,222.70 in 2017[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 88,358,806.41, a decrease of 29.82% from CNY 125,906,848.75 in 2017[19]. - The company reported a net cash outflow from investing activities of CNY -73,450,737.47, an improvement of 63.84% compared to CNY -203,145,030.94 in 2017[19]. - The fourth quarter revenue was CNY 280,608,449.20, with a net profit of CNY 34,597,221.75 attributable to shareholders[23]. Dividend Policy - The profit distribution plan for 2018 proposes a cash dividend of 1.4 RMB per 10 shares (including tax) to all shareholders, pending approval at the annual general meeting[5]. - The company distributed cash dividends totaling RMB 29,813,560 in 2018, representing 25.49% of the net profit attributable to ordinary shareholders[88]. - In the first half of 2018, the company paid cash dividends of RMB 50,278,000, which accounted for 42.99% of the net profit attributable to ordinary shareholders[88]. - The company reported a cash dividend of RMB 39,348,000 in 2017, which was 30.08% of the net profit attributable to ordinary shareholders[88]. - The company has established a cash dividend policy that prioritizes cash distributions, aiming for a minimum of 25% of distributable profits to be paid out annually[84]. - The company is committed to maintaining a stable profit distribution policy, with adjustments requiring approval from the board and shareholders[86]. Risk Management - The company has outlined potential risks in its future development, which are detailed in the discussion and analysis section of the report[7]. - The report emphasizes that forward-looking statements regarding future plans and strategies do not constitute a commitment to investors, highlighting the importance of investment risk awareness[6]. - The automotive industry faced risks from macroeconomic fluctuations, with a notable decline in domestic automotive market production and sales in 2018, which could adversely affect the company's operations and profitability[78]. - The company acknowledges risks associated with potential litigation and product recalls, although it has not experienced significant quality issues to date[79]. - The company faces risks related to raw material price fluctuations, particularly for aluminum and plastic, which could impact production costs[79]. Corporate Governance - The company has committed to ensuring the authenticity and completeness of the annual report, with all board members present at the board meeting[8]. - The company has established a robust internal control system to protect the rights of shareholders and ensure compliance with legal requirements[110]. - The company has not reported any instances of fund occupation or overdue receivables during the reporting period[93]. - The company has not identified any major deficiencies in internal control during the reporting period, ensuring compliance with regulations[156]. - The company has set up four specialized committees within the board, enhancing the efficiency and scientific nature of decision-making[150]. Research and Development - Research and development expenses increased by 13.88% to CNY 60,098,807.70, focusing on new energy vehicle thermal management products and technologies[46]. - The company obtained 48 authorized patents during the year, including 2 invention patents, enhancing its technological capabilities[6]. - The number of R&D personnel is 231, accounting for 11.48% of the total workforce[59]. - The company is focused on enhancing its research and development capabilities, particularly in energy-saving and environmentally friendly automotive components, to capitalize on market trends[77]. Market Position and Strategy - The company operates multiple subsidiaries, including Changzhou Tenglong Auto Parts Co., Ltd., and has a diverse product range in the automotive parts sector[11]. - The company has successfully expanded its market presence, particularly in the new energy vehicle sector, with projects in Europe and Malaysia[40]. - The company aims to enhance production efficiency through automation and smart factory upgrades, leading to increased per capita output[40]. - The company is positioned to benefit from the ongoing transition in the automotive industry towards electrification and smart technologies, which is expected to drive future growth[69]. - The company plans to maintain its competitive edge in traditional heat exchange systems while optimizing product structure and expanding high-end customer relationships[74]. Social Responsibility - The company donated a total of 640,000 RMB to various charitable organizations in 2018, including 100,000 RMB to the Wujin Charity Association and 50,000 RMB to the Jiangsu Charity Association[105]. - The company plans to continue its social responsibility initiatives by supporting local charities and educational foundations, with a focus on poverty alleviation[108]. - The company has implemented environmental protection measures, including a wastewater treatment facility that operates effectively, ensuring compliance with local regulations[112]. - The company has successfully passed the ISO 14001 environmental management system certification, ensuring its commitment to environmental sustainability[113]. Shareholder Structure - The total number of ordinary shares decreased by 21.1 million shares, resulting in a total of 21,860 million shares outstanding[117]. - The company’s major shareholders did not increase their holdings during the reporting period, maintaining their positions[120]. - The largest shareholder, Tenglong Technology Group Co., Ltd., holds 100,585,300 shares, accounting for 46.01% of total shares[124]. - The company has no strategic investors or general legal entities among the top ten shareholders due to new share placements[125]. - The total number of unrestricted circulating shares increased to 21,697.12 million shares, accounting for 99.25% of the total shares[118]. Employee Management - The company employed a total of 2,012 staff, with 1,432 in production, 61 in sales, 231 in technical roles, 33 in finance, and 255 in administration[141]. - The company has established a salary management system that combines basic salary and performance rewards[143]. - The company completed 155 training projects in 2018, achieving a 100% completion rate[144]. - The total number of employees with a bachelor's degree or above is 148, while those with a college degree or below total 1,864[141].

2018 年第三季度报告 公司代码：603158 公司简称：腾龙股份 常州腾龙汽车零部件股份有限公司 2018 年第三季度报告 1 / 25 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 7 | | 四、 | 附录 | 13 | 2018 年第三季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人蒋学真、主管会计工作负责人徐亚明及会计机构负责人（会计主管人员）徐亚明 保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 单位：元 币种：人民币 | | 本报告期末 | 上年度末 | 本报告期末比上年度末增 | | | --- | --- | --- | --- | --- | | | | | 减(%) | | | 总资产 ...

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 515,780,468.91, representing a 17.45% increase compared to CNY 439,130,704.14 in the same period last year[20]. - The net profit attributable to shareholders of the listed company decreased by 16.56% to CNY 55,103,979.23 from CNY 66,042,040.87 year-on-year[20]. - The basic earnings per share for the first half of 2018 was CNY 0.26, down 13.33% from CNY 0.30 in the same period last year[22]. - The company reported a decrease in net profit after deducting non-recurring gains and losses by 19.68% to CNY 51,120,831.58 compared to CNY 63,643,465.77 in the previous year[20]. - The company reported a net loss of RMB 993,564 for the first half of 2018, with total revenue of RMB 6,195,934[75]. - Net profit for the first half of 2018 was ¥57,845,745.06, a decrease of 17.3% from ¥69,896,512.18 in the previous year[93]. Cash Flow and Assets - The net cash flow from operating activities was CNY 51,647,852.50, showing a slight increase of 3.45% compared to CNY 49,925,787.80 in the previous year[21]. - The total assets of the company at the end of the reporting period were CNY 1,569,397,915.04, which is a 3.03% increase from CNY 1,523,258,222.70 at the end of the previous year[21]. - The total assets at the end of the reporting period were significantly impacted by an increase in prepaid expenses, which rose by 58.47% to ¥15,113,945.33[42]. - The ending balance of cash and cash equivalents was CNY 135,097,494.52, down from CNY 179,088,622.59 at the end of the previous year[99]. - The total accounts receivable at the end of the period was ¥265,397.70 million, with a bad debt provision of ¥15,318.14 million, resulting in a provision ratio of 5.77%[186]. Dividends and Shareholder Information - The company plans to distribute a cash dividend of CNY 2.30 per 10 shares, amounting to a total cash dividend distribution of CNY 50,278,000[5]. - The largest shareholder, Tenglong Technology Group Co., Ltd., holds 108.8 million shares, representing 49.77% of the total shares[74]. - The company reported a profit distribution of -¥32,751,900.00 to shareholders, indicating a focus on reinvestment rather than immediate returns[110]. Market and Industry Insights - In the first half of 2018, the automotive production and sales reached 14.06 million vehicles, with a year-on-year growth of 5.6%[29]. - New energy vehicle production and sales reached 412,000 units, representing a year-on-year increase of 94.9% and 111.5% respectively[29]. - The company expects the automotive market to maintain a growth rate of around 5% for the full year[29]. Operational Strategies - The company focuses on automotive air conditioning pipelines, heat exchange systems, and components for new energy vehicles, serving major clients like Peugeot Citroën and BYD[27]. - The company maintains a "make-to-order" production model, ensuring quality and quantity meet customer requirements[27]. - The company emphasizes independent mold development, significantly reducing product development cycles and improving quality control[34]. Risks and Challenges - The company faces risks from industry cycle fluctuations, which could significantly impact production and profitability if the global or domestic economy deteriorates[47]. - The company is exposed to raw material price volatility, particularly for aluminum products, which could directly affect production costs[47]. - The company has a goodwill balance of 114.57 million RMB from acquisitions, which may lead to impairment risks if subsidiary performance does not meet expectations[48]. Environmental and Social Responsibility - The company has implemented a rainwater and wastewater separation system, ensuring that all production wastewater is treated before entering the municipal sewage system[65]. - The company's wastewater treatment facilities are operating well, with annual environmental monitoring conducted by a qualified third party showing compliance[66]. - The company has committed to social responsibility by supporting impoverished students and local charities[64]. Corporate Governance and Management - The company successfully unlocked its second stock incentive plan, enhancing the governance structure and motivation for management and core team members[41]. - The company appointed Xu Yaming as the new Chief Financial Officer, replacing Zhang Zhengming who resigned due to work changes[80]. - The company has implemented a stock incentive plan approved in April 2016, which includes adjustments to the number of restricted stocks granted to incentivized individuals[56]. Accounting and Financial Reporting - The financial statements are prepared based on the assumption of going concern, with no significant doubts regarding the company's ability to continue operations for the next 12 months[119]. - The company adheres to specific accounting policies for bad debt provisions, fixed asset depreciation, and revenue recognition, ensuring compliance with accounting standards[120]. - The company recognizes deferred tax assets and liabilities based on the difference between the book value of assets and liabilities and their tax bases[171].

Financial Performance - Operating revenue rose by 15.63% to CNY 258,128,066.27 year-on-year[6] - Net profit attributable to shareholders decreased by 21.19% to CNY 24,064,095.20 compared to the same period last year[6] - Basic earnings per share fell by 20.00% to CNY 0.12[6] - The diluted earnings per share also decreased by 20.00% to CNY 0.12[6] - The net profit for Q1 2018 was CNY 26,593,523.79, a decrease of 21.5% from CNY 33,849,160.47 in the previous year[33] - Net profit for Q1 2018 was CNY 8,714,063.35, down 50.2% from CNY 17,484,215.96 in Q1 2017[38] - Total comprehensive income for Q1 2018 was CNY 8,714,063.35, a decrease of 50.2% from CNY 17,484,215.96 in Q1 2017[38] - The company reported a total profit of CNY 10,710,242.00 for Q1 2018, down 50.1% from CNY 21,446,147.90 in Q1 2017[38] Cash Flow - Cash flow from operating activities decreased by 10.37% to CNY 26,491,245.08[6] - Cash flow from operating activities for Q1 2018 was CNY 26,491,245.08, down 10.5% from CNY 29,554,935.65 in Q1 2017[41] - Net cash flow from investing activities decreased by 79.25% from CNY -25,060,828.12 to CNY -44,921,998.10 due to a reduction in the amount recovered from financial assets[14] - Financing activities generated a net cash inflow of CNY 9,992,707.77 in Q1 2018, compared to a net outflow of CNY -32,733.76 in Q1 2017[42] - The company reported a total cash outflow from operating activities of ¥103,195,685.58, compared to ¥115,929,324.69 in the previous year, indicating a reduction of 11.0%[43] - The net cash flow from operating activities for the first quarter of 2018 was ¥8,146,420.76, a decrease of 51.7% compared to ¥16,886,104.83 in the same period last year[43] Assets and Liabilities - Total assets increased by 3.25% to CNY 1,572,751,472.55 compared to the end of the previous year[6] - Total assets increased from CNY 1,523,258,222.70 to CNY 1,572,751,472.55, marking a growth of about 3.2%[26] - The company's fixed assets increased from CNY 336,891,911.12 to CNY 372,204,810.90, which is an increase of about 10.5%[26] - Current liabilities decreased from CNY 399,850,338.16 to CNY 379,379,744.99, showing a reduction of approximately 5.1%[26] - The total liabilities decreased to CNY 316,385,399.38 from CNY 337,081,340.77, indicating a reduction of 6.5%[31] Shareholder Information - The number of shareholders reached 8,142 at the end of the reporting period[11] - The largest shareholder, Tenglong Technology Group Co., Ltd., holds 49.76% of the shares[11] Expenses - Sales expenses rose by 30.91% from CNY 7,252,755.74 to CNY 9,494,275.47 mainly due to consulting fees, transportation costs, and the addition of Zhejiang Lichileiao Company[14] - Financial expenses surged by 603.66% from a negative CNY 510,549.48 to CNY 2,571,428.56 due to increased borrowing interest and foreign exchange losses[14] - Employee compensation payable decreased by 46.74% from CNY 16,249,163.47 to CNY 8,654,162.81 primarily due to the payment of last year's year-end bonuses[13] Inventory and Receivables - Accounts receivable increased from CNY 239,429,643.03 to CNY 252,595,839.92, indicating a growth of about 5.5%[25] - Inventory rose from CNY 228,044,251.11 to CNY 231,779,379.36, reflecting an increase of approximately 1.6%[25] - The inventory decreased to CNY 80,717,518.73 from CNY 91,608,632.93, reflecting a decline of 11.9%[30] - The accounts receivable increased to CNY 124,506,008.80 from CNY 116,786,669.66, showing an increase of 6.0%[29] Corporate Governance and Commitments - The company confirmed no misuse of funds from its subsidiary, ensuring financial integrity[20] - The company has committed to not transferring or managing its shares for 12 months post-IPO, ensuring stability in shareholding[20] - The company has a plan to repurchase shares if any misleading information is found in its prospectus, ensuring investor protection[20] - The company has pledged to cover any losses incurred by its subsidiary due to social insurance and housing fund issues, demonstrating commitment to its subsidiaries[20]

Financial Performance - The company's operating revenue for 2017 was ¥904,007,078.27, representing a 16.68% increase compared to ¥774,758,708.72 in 2016[21] - The net profit attributable to shareholders for 2017 was ¥130,817,720.32, which is a 10.53% increase from ¥118,352,573.08 in 2016[21] - The total assets of the company reached ¥1,523,258,222.70 at the end of 2017, marking a 22.96% increase from ¥1,238,788,387.65 at the end of 2016[21] - The cash flow from operating activities for 2017 was ¥147,647,250.58, a significant increase of 199.76% compared to ¥49,254,952.03 in 2016[21] - Basic earnings per share increased by 10.91% to CNY 0.61 in 2017 compared to CNY 0.55 in 2016[22] - Diluted earnings per share rose by 9.09% to CNY 0.60 in 2017 from CNY 0.55 in 2016[22] - The net profit attributable to shareholders for Q4 2017 was CNY 38,331,278.40, showing a significant increase compared to CNY 26,444,401.05 in Q3 2017[24] - The company reported a total revenue of CNY 265,887,952.89 in Q4 2017, compared to CNY 198,988,421.24 in Q3 2017[24] Assets and Liabilities - The net assets attributable to shareholders at the end of 2017 were ¥996,834,370.43, reflecting a 13.63% increase from ¥877,250,112.88 at the end of 2016[21] - The company's total liabilities increased significantly, with short-term loans rising to 70,000,000.00 CNY, a 2,233.33% increase from the previous year[61] - Total liabilities increased to CNY 472,458,926.61 from CNY 329,996,852.62, marking a growth of around 43%[194] - Owner's equity reached CNY 1,050,799,296.09, up from CNY 908,791,535.03, which is an increase of about 15.6%[194] Cash Dividends - The company plans to distribute cash dividends of ¥1.8 per 10 shares, totaling an estimated cash dividend distribution of ¥39,348,000[6] - The cash dividend distribution policy states that at least 25% of the distributable profits should be distributed as cash dividends after covering losses and allocating statutory reserves[84] - The company aims to maintain a stable and continuous profit distribution policy, adjusting it only when necessary based on operational conditions and long-term development needs[86] Research and Development - R&D expenditure increased by 50.79% to CNY 52.78 million, supporting the company's technological advancements in heat exchange systems[45] - The company is focusing on enhancing R&D and technology innovation to cope with industry competition and cost pressures[64] - The company is investing in R&D for new technologies, with a budget allocation of 2 million for innovative projects[151] Market and Sales - The company focuses on automotive air conditioning pipelines and thermal management systems for new energy vehicles, with major clients including Peugeot Citroën and BYD[30] - Domestic sales amounted to CNY 716.63 million, up 17.45% year-on-year, while export sales increased by 14.41% to CNY 169.84 million[43] - The sales of automotive air conditioning pipes and heat exchange systems reached CNY 638.50 million, a year-on-year increase of 8.60%[43] Corporate Governance - The company has established a structured governance framework, including a shareholders' meeting, board of directors, supervisory board, and management layer[167] - The board of directors convened 12 meetings, with all directors present at each meeting, demonstrating strong governance practices[171] - The independent directors actively participated in decision-making and did not raise objections to any board resolutions during the reporting period[169] Risk Management - The company has outlined potential risks in its future development strategies, which are detailed in the report[8] - The company recognizes the risk of raw material price fluctuations, particularly for aluminum products, which could impact production costs[79] Social Responsibility - The company donated a total of 300,000 to various charitable organizations in 2017, including 100,000 to the Wujin District Charity Association[117] - The company plans to establish a production base in Yunmeng County, Hubei Province, in 2018 to promote local employment and tax revenue[120] Audit and Compliance - The company received a standard unqualified audit report from Tianjian Accounting Firm[5] - The company emphasizes the importance of accurate and complete financial reporting, as stated by its management team[9] - The audit report emphasizes the importance of evaluating the appropriateness of accounting policies and estimates made by management[188]