证券代码：603266 证券简称：天龙股份 公告编号：2023-020 宁波天龙电子股份有限公司 关于召开 2022 年度暨 2023 年第一季度 业绩说明会的公告 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： 一、说明会类型 宁波天龙电子股份有限公司（以下简称"公司"）已于 2023 年 4 月 26 日披 露《2022 年年度报告》、《2022 年度利润分配方案》等公告，将于 2023 年 4 月 29 日披露《2023 年第一季度报告》，详细内容请见公司在上海证券交易所网站 （www.sse.com.cn）及指定信息披露媒体披露的相关公告。为便于广大投资者更 加全面深入地了解公司经营业绩、利润分配等情况，公司定于 2023 年 5 月 10 日 会议时间：2023 年 5 月 10 日（星期三）15：00—16：00 会议召开地点：价值在线（www.ir-online.cn） 会议召开方式：网络互动方式 会议问题征集： 投资者可于 2023 年 5 月 10 日 前 访问网址 https://es ...

证券代码：603266 证券简称：天龙股份 宁波天龙电子股份有限公司 投资者关系活动记录表 | --- | --- | --- | --- | --- | --- | |-------|----------------------------------|-------|-----------------------------------|-------------------------------------|--------------------------------------------------------| | | 编号： 2022 - 004 | | | | | | | 投资者关系活动类别 ☐特定对象调研 | | | | ☐分析师会议 | | | | | ☐媒体采访 | | 业绩说明会 | | | | | ☐ 新闻发布会 | | ☐ 路演活动 | | | | | ☐现场参观 | | | | | | | ☐ | 其他（请文字说明其他活动内容） | | | | 形式 ☐ | | 现场 | 网上 | ☐ 电话会议 | | | 参与单位名称及人员姓名 | | 线上参与公司 | 2021 | 年 ...

2022 年第三季度报告 证券代码：603266 证券简称：天龙股份 宁波天龙电子股份有限公司 2022 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法律责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、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 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 2022 年第三季度报告 1 / 13 (二)非经常性损益项目和金额 (一)主要会计数据和财务指标 2022 年第三季度报告 单位：元 币种：人民币 单位：元 币种：人民币 | 经营活动产生的现金流 | 不适用 | 不适用 | 119,165,592.08 | | 31.94 | | --- | --- | --- | --- | --- | --- | | 量净额 | | | | | | | 基本每股收益（元/股） | 0.18 ...

[Definitions](index=4&type=section&id=Item%201.%20Definitions) This chapter provides definitions for key professional terms and company entity abbreviations used throughout the report - The chapter clarifies professional terminology and company entity abbreviations, encompassing regulatory bodies, legal frameworks, the company, its subsidiaries, and controlling shareholders[10](index=10&type=chunk) [Company Profile and Key Financial Indicators](index=4&type=section&id=Item%202.%20Company%20Profile%20and%20Key%20Financial%20Indicators) This section provides the company's fundamental information and presents key financial data and indicators for the reporting period [Company Basic Information](index=4&type=section&id=Item%202.1.%20Company%20Basic%20Information) This chapter provides the company's basic business registration details, including names, legal representative, contact information, addresses, and stock listing details - The company's full name is Ningbo Tianlong Electronics Co., Ltd., with stock abbreviation **Tianlong Shares** and stock code **603266**, listed on the Shanghai Stock Exchange[12](index=12&type=chunk)[17](index=17&type=chunk) [Key Accounting Data and Financial Indicators](index=5&type=section&id=Item%202.2.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) In H1 2022, the company's operating revenue grew by 6.80%, net profit attributable to parent increased by 14.44%, and net cash flow from operating activities surged by 50.91%, with basic EPS at **CNY 0.31**, up 10.71% Key Accounting Data | Key Accounting Data | Current Period (Jan-Jun) | Prior Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 600,150,337.71 CNY | 561,955,371.69 CNY | 6.80% | | Net Profit Attributable to Shareholders of Listed Company | 62,194,357.20 CNY | 54,348,235.03 CNY | 14.44% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Items) | 52,077,396.74 CNY | 48,927,997.55 CNY | 6.44% | | Net Cash Flow from Operating Activities | 102,000,537.74 CNY | 67,588,661.72 CNY | 50.91% | | **Key Financial Indicators** | **Current Period (Jan-Jun)** | **Prior Period** | **YoY Change (%)** | | Basic Earnings Per Share (CNY/share) | 0.31 | 0.28 | 10.71% | | Diluted Earnings Per Share (CNY/share) | 0.31 | 0.27 | 14.81% | | Weighted Average Return on Net Assets (%) | 5.03% | 5.17% | Decrease of 0.14 percentage points | Non-recurring Gains and Losses Items | Non-recurring Gains and Losses Items | Amount (CNY) | | :--- | :--- | | Gains/Losses from Fair Value Changes of Trading Financial Assets/Liabilities and Investment Income | 7,158,266.46 | | Gains/Losses from Entrusted Investments or Asset Management | 2,251,972.63 | | Government Subsidies Recognized in Current Profit/Loss | 2,115,224.05 | | **Total** | **10,116,960.46** | [Management Discussion and Analysis](index=7&type=section&id=Item%203.%20Management%20Discussion%20and%20Analysis) This section provides an in-depth analysis of the company's industry, core business, operational performance, and key financial changes during the reporting period [Industry and Main Business Overview](index=7&type=section&id=Item%203.1.%20Industry%20and%20Main%20Business%20Overview) The company is a one-stop provider of precision molds, injection molding, and assembly solutions, primarily serving the automotive components and electrical appliance sectors, focusing on electronic integration, precision, and lightweighting, with strong growth in the new energy vehicle market presenting opportunities - The company's core business involves integrated solutions for precision mold development, injection molding, and automated assembly, primarily serving the automotive components and electrical appliance sectors[24](index=24&type=chunk) - In the automotive sector, the company supplies electronic control components and precision plastic functional/structural parts to renowned brands such as Bosch, Continental Automotive, Tesla, and BYD[24](index=24&type=chunk) - In H1 2022, China's new energy vehicle production and sales increased by **1.2 times** year-on-year, achieving a market share of **21.6%**, indicating industry trends towards electrification, intelligence, and lightweighting, which presents development opportunities for the company[34](index=34&type=chunk)[36](index=36&type=chunk)[37](index=37&type=chunk) [Core Competitiveness Analysis](index=12&type=section&id=Item%203.2.%20Core%20Competitiveness%20Analysis) The company's core competencies span six key areas: technology and R&D, mold development and manufacturing, national regional layout, experienced management, diverse product lines, and stable high-quality client resources - The company possesses strong technological R&D capabilities, holding **32 invention patents** and **155 utility model patents** as of the reporting period end, along with mastery of key technologies like multi-component molding[43](index=43&type=chunk) - The company has established production bases in key industrial clusters across the Yangtze River Delta, Pearl River Delta, Beijing-Tianjin, Central China, Southwest, and Northeast regions, forming a national strategic layout for rapid client response[44](index=44&type=chunk) - The company has cultivated a stable base of high-quality clients, including renowned domestic and international Tier-1 automotive component suppliers and electrical appliance manufacturers such as Brose Group, Continental Automotive, Bosch Group, and Schneider[45](index=45&type=chunk) [Discussion and Analysis of Operations](index=13&type=section&id=Item%203.3.%20Discussion%20and%20Analysis%20of%20Operations) In H1 2022, despite pandemic and supply chain challenges, the company achieved dual growth in revenue and profit, driven by new energy vehicle business expansion, securing **33 new energy vehicle projects**, and advancing new capacity construction and internal management digitalization Financial Indicators | Financial Indicators | H1 2022 | YoY Growth (%) | | :--- | :--- | :--- | | Operating Revenue | 600.15 Million CNY | 6.80% | | Operating Profit | 68.88 Million CNY | 8.53% | | Net Profit Attributable to Parent | 62.19 Million CNY | 14.44% | - Automotive components business sales reached **CNY 425 million**, a **7.64%** year-on-year increase, with new energy vehicle-related component sales approximately **CNY 65.04 million**, accounting for **11.15%** of total revenue[47](index=47&type=chunk) - During the reporting period, the company secured **56 new project nominations** from key clients, with **33 related to new energy vehicles**, indicating strong market development[48](index=48&type=chunk) [Analysis of Key Operating Conditions](index=14&type=section&id=Item%203.4.%20Analysis%20of%20Key%20Operating%20Conditions) This chapter details the reporting period's financial statement changes, asset-liability status, and investment activities, showing revenue growth driven by main product sales, a significant decrease in financial expenses due to exchange gains, and increased financial assets from wealth management and equity investments [Main Business Analysis](index=14&type=section&id=Item%203.4.1.%20Main%20Business%20Analysis) During the reporting period, the company's operating revenue increased by 6.80%, driven by sales growth in automotive and electrical appliance products, while financial expenses significantly decreased by 346.46% due to exchange gains from RMB depreciation, and net cash flow from operating activities rose by 50.91% due to increased sales collection Financial Performance | Account | Current Period (CNY) | Prior Period (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 600,150,337.71 | 561,955,371.69 | 6.80 | | Operating Cost | 473,736,621.09 | 436,634,655.00 | 8.50 | | Financial Expenses | -2,913,811.89 | 1,182,284.86 | -346.46 | | R&D Expenses | 25,073,641.89 | 22,359,558.75 | 12.14 | | Net Cash Flow from Operating Activities | 102,000,537.74 | 67,588,661.72 | 50.91 | [Analysis of Assets and Liabilities](index=15&type=section&id=Item%203.4.2.%20Analysis%20of%20Assets%20and%20Liabilities) Total assets slightly increased by 2.01% at period-end, with significant increases in trading financial assets and other non-current financial assets due to wealth management and equity investments, while employee compensation and other payables decreased substantially due to year-end bonus payments and restricted stock unlocking Asset and Liability Changes | Item Name | Current Period End (CNY) | Prior Period End (CNY) | Change (%) | Main Reason | | :--- | :--- | :--- | :--- | :--- | | Trading Financial Assets | 140,000,000.00 | 65,000,000.00 | 115.38 | Increased purchase of floating-rate wealth management products | | Other Non-current Financial Assets | 65,762,846.16 | 8,500,000.00 | 673.68 | Investment in Jiaxing Junman Equity Investment Partnership | | Employee Compensation Payable | 22,650,002.79 | 34,206,794.44 | -33.79 | Payment of year-end bonuses accrued in prior year | | Other Payables | 2,140,042.89 | 7,937,193.64 | -73.04 | Unlocking of restricted shares from equity incentive | - As of the reporting period end, the company's total restricted assets amounted to **CNY 94,069,519.55**, comprising monetary funds for bank acceptance bill deposits and pledged notes receivable[54](index=54&type=chunk) [Analysis of Investment Status](index=16&type=section&id=Item%203.4.3.%20Analysis%20of%20Investment%20Status) During the reporting period, the company made a significant new equity investment of **CNY 50 million** of its own funds to subscribe for a **14.06%** stake in Jiaxing Junman Equity Investment Partnership, which specifically invests in Guangzhou CanSemi Technology Inc - The company used **CNY 50 million** of its own funds to subscribe for fund shares in Jiaxing Junman Equity Investment Partnership (Limited Partnership), specifically investing in Guangzhou CanSemi Technology Inc[55](index=55&type=chunk) [Other Disclosures (Risk Analysis)](index=18&type=section&id=Item%203.5.%20Other%20Disclosures%20%28Risk%20Analysis%29) The company faces key risks including intensifying market competition, volatility in downstream industries (automotive, electrical appliances), raw material price fluctuations, loss of core technology and talent, and the ongoing impact of the COVID-19 pandemic - Market competition risk: The company competes with internationally renowned manufacturers and domestic enterprises, facing adverse situations if it lags in technology or market expansion[60](index=60&type=chunk) - Downstream industry risk: The company's performance is affected by fluctuations in the automotive and electrical appliance industries, with macroeconomic slowdowns, pandemics, and chip shortages potentially leading to decreased profitability[60](index=60&type=chunk) - Raw material price fluctuation risk: Prices of key raw material plastic particles are highly influenced by crude oil prices, and significant fluctuations could impact the stability of the company's operating performance[61](index=61&type=chunk) [Corporate Governance](index=19&type=section&id=Item%204.%20Corporate%20Governance) This section details the company's corporate governance practices, including shareholder meeting procedures and the implementation of its equity incentive plan [Shareholder Meeting Information](index=19&type=section&id=Item%204.1.%20Shareholder%20Meeting%20Information) During the reporting period, the company held one shareholder meeting (2021 Annual General Meeting), with all convening, conducting, and voting procedures complying with relevant laws, regulations, and the company's articles of association - The company convened its **2021 Annual General Meeting** on **May 19, 2022**, with resolutions being legally valid[64](index=64&type=chunk)[65](index=65&type=chunk) [Equity Incentive Plan](index=19&type=section&id=Item%204.2.%20Equity%20Incentive%20Plan) During the reporting period, the company adjusted and implemented its first phase restricted stock incentive plan, including adjusting repurchase prices, repurchasing and canceling **23,800 shares** from resigned employees, and completing the unlocking of the third tranche of initial grants and the second tranche of reserved grants - In **January 2022**, the company adjusted the repurchase price for its first phase restricted stock incentive plan[66](index=66&type=chunk) - In **March 2022**, the company completed the repurchase and cancellation of **23,800 restricted shares** from resigned incentive recipients[67](index=67&type=chunk) - In **May 2022**, conditions for unlocking and listing a portion of shares under the first phase incentive plan were met[67](index=67&type=chunk) [Environmental and Social Responsibility](index=20&type=section&id=Item%205.%20Environmental%20and%20Social%20Responsibility) This section outlines the company's commitment to environmental protection and social responsibility, detailing its compliance with environmental regulations and initiatives for energy conservation and carbon reduction [Environmental Information](index=20&type=section&id=Item%205.1.%20Environmental%20Information) The company and its subsidiaries are not designated as key polluting entities and strictly adhered to environmental regulations without administrative penalties during the reporting period, demonstrating environmental commitment through equipment upgrades, energy-saving measures like LED lighting and photovoltaic power stations, and robust 'three wastes' management to reduce carbon emissions - The company and its subsidiaries are not listed as key polluting entities by environmental authorities, with no environmental violations or penalties during the reporting period[69](index=69&type=chunk) - The company achieved energy conservation and consumption reduction through measures such as phasing out old injection molding machines, procuring energy-efficient equipment, and upgrading lighting systems[72](index=72&type=chunk) - During the reporting period, the company signed an agreement for a rooftop distributed photovoltaic power generation project to build a solar PV power station, aiming to increase green energy usage and reduce carbon emissions[73](index=73&type=chunk) [Significant Matters](index=22&type=section&id=Item%206.%20Significant%20Matters) This section covers significant matters including the fulfillment of commitments, major related party transactions, and the performance of significant contracts during the reporting period [Fulfillment of Commitments](index=22&type=section&id=Item%206.1.%20Fulfillment%20of%20Commitments) During the reporting period, the company's actual controllers, shareholders, and related parties strictly fulfilled all commitments made during the initial public offering and equity incentive events, including share lock-ups, avoiding horizontal competition, and standardizing related party transactions, with no breaches observed - The company's actual controllers, shareholders, and directors, supervisors, and senior management strictly fulfilled commitments related to the initial public offering, including share lock-ups and reduction prices[76](index=76&type=chunk)[78](index=78&type=chunk)[81](index=81&type=chunk) - The company and incentive recipients strictly fulfilled commitments within the equity incentive plan regarding not providing financial assistance or benefit returns[78](index=78&type=chunk)[88](index=88&type=chunk) [Significant Related Party Transactions](index=26&type=section&id=Item%206.2.%20Significant%20Related%20Party%20Transactions) During the reporting period, the company's routine related party transactions primarily involved leasing properties from controlling shareholder Antai Holdings for use as a canteen and employee dormitory, with actual transactions totaling **CNY 8.3306 million** against an annual forecast of no more than **CNY 33 million** - The company projected routine related party transactions with related parties not exceeding **CNY 33 million** for FY2022, with actual transactions totaling **CNY 8.3306 million** during the reporting period, remaining within the estimated limit[91](index=91&type=chunk) - The company leased properties from controlling shareholder Antai Holdings at market rates for a canteen and employee dormitory, with **CNY 541,291.42** incurred in the current period[94](index=94&type=chunk) [Significant Contracts and Their Performance](index=28&type=section&id=Item%206.3.%20Significant%20Contracts%20and%20Their%20Performance) During the reporting period, the company and its subsidiaries engaged in multiple property and site lease contracts for production, office, and employee dormitory use, while also providing guarantees for subsidiaries, including bill pool business guarantees and performance guarantees for Brose Group, with total guarantees representing **2.01%** of the company's net assets - The company and its subsidiaries leased **15 properties or sites** for operations, offices, and employee dormitories, and leased out **3 idle properties**[97](index=97&type=chunk)[99](index=99&type=chunk) Guarantee Information | Guarantee Information | Amount (CNY) | | :--- | :--- | | Total Guarantees Provided to Subsidiaries During Reporting Period | 32,689,752.76 | | Total Guarantees Provided to Subsidiaries at Period End (B) | 25,283,626.29 | | Total Guarantees (A+B) | 25,283,626.29 | | Ratio of Total Guarantees to Company's Net Assets (%) | 2.01 | [Share Changes and Shareholder Information](index=34&type=section&id=Item%207.%20Share%20Changes%20and%20Shareholder%20Information) This section details changes in the company's share capital and provides an overview of its shareholder structure during the reporting period [Share Capital Changes](index=34&type=section&id=Item%207.1.%20Share%20Capital%20Changes) During the reporting period, the company's total share capital decreased from **198,910,550 shares** to **198,886,750 shares** due to the repurchase and cancellation of **23,800 restricted shares**, while **1,172,916 restricted shares** converted to unrestricted tradable shares due to equity incentive unlocking - During the reporting period, the company's total share capital decreased by **23,800 shares** due to the repurchase and cancellation of restricted shares, resulting in an ending total share capital of **198,886,750 shares**[107](index=107&type=chunk)[108](index=108&type=chunk) - Due to the unlocking of a portion of shares from the first phase restricted stock incentive plan, the company's restricted shares decreased by **1,196,716 shares**, while unrestricted tradable shares increased by **1,172,916 shares**[107](index=107&type=chunk)[108](index=108&type=chunk)[110](index=110&type=chunk) [Shareholder Information](index=35&type=section&id=Item%207.2.%20Shareholder%20Information) As of the reporting period end, the company had **22,516** common shareholders, with Zhejiang Antai Holding Group Co., Ltd. (**48.35%**), Zhang Yihua (**10.80%**), and Ningbo Junrui Investment Partnership (Limited Partnership) (**5.91%**) as the top three shareholders, and controlling shareholder Antai Holdings having a portion of its shares pledged - As of the reporting period end, the company had a total of **22,516** common shareholders[112](index=112&type=chunk) Top Three Shareholders | Top Three Shareholders | Shares Held at Period End (shares) | Percentage (%) | | :--- | :--- | :--- | | Zhejiang Antai Holding Group Co., Ltd. | 96,167,400 | 48.35 | | Zhang Yihua | 21,489,660 | 10.80 | | Ningbo Junrui Investment Partnership (Limited Partnership) | 11,760,000 | 5.91 | - Controlling shareholder Zhejiang Antai Holding Group Co., Ltd. pledged **47,620,000 shares**, representing **49.52%** of its holdings, while its concerted party, Ningbo Junrui Investment Partnership (Limited Partnership), pledged **5,000,000 shares**[114](index=114&type=chunk)[115](index=115&type=chunk) [Financial Report](index=38&type=section&id=Item%208.%20Financial%20Report) This section presents the company's unaudited consolidated and parent company financial statements, including balance sheets, income statements, cash flow statements, and statements of changes in equity, along with significant accounting policies and notes to financial items [Financial Statements](index=38&type=section&id=Item%208.1.%20Financial%20Statements) This chapter includes the company's unaudited consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity, showing growth in total assets and net assets, increased net profit year-on-year, and healthy operating cash flow in H1 2022 Consolidated Balance Sheet (June 30, 2022) | Consolidated Balance Sheet (2022-06-30) | Amount (CNY) | | :--- | :--- | | Total Assets | 1,756,181,056.82 | | Total Liabilities | 500,932,341.78 | | Net Assets Attributable to Shareholders of Listed Company | 1,255,248,715.04 | Consolidated Income Statement (Jan-Jun 2022) | Consolidated Income Statement (2022年1-6月) | Amount (CNY) | | :--- | :--- | | Total Operating Revenue | 600,150,337.71 | | Total Profit | 68,870,753.25 | | Net Profit | 62,194,357.20 | Consolidated Cash Flow Statement (Jan-Jun 2022) | Consolidated Cash Flow Statement (2022年1-6月) | Amount (CNY) | | :--- | :--- | | Net Cash Flow from Operating Activities | 102,000,537.74 | | Net Cash Flow from Investing Activities | -3,574,151.86 | | Net Cash Flow from Financing Activities | -32,923,101.74 | [Significant Accounting Policies and Estimates](index=55&type=section&id=Item%208.2.%20Significant%20Accounting%20Policies%20and%20Estimates) The company's financial statements are prepared on a going concern basis, adhering to enterprise accounting standards, with this chapter detailing key accounting policies and estimates for revenue recognition, financial instruments, inventory valuation, long-term equity investments, fixed asset depreciation, and government grants - Revenue Recognition: The company primarily sells plastic parts and molds, representing performance obligations satisfied at a point in time, with revenue recognized based on different models such as consignment, domestic direct sales, and international direct sales, at the point of customer receipt, confirmation of goods, or bill of lading acquisition[210](index=210&type=chunk) - Financial Instrument Impairment: The company assesses impairment for financial assets like receivables based on expected credit losses, applying an aging analysis method for accounts receivable, with a **5%** provision for doubtful accounts for those within one year[168](index=168&type=chunk)[172](index=172&type=chunk) - R&D Expenditures: Research phase expenditures are expensed in the current period, while development phase expenditures are recognized as intangible assets when specific conditions are met[193](index=193&type=chunk) [Notes to Consolidated Financial Statement Items](index=78&type=section&id=Item%208.3.%20Notes%20to%20Consolidated%20Financial%20Statement%20Items) This chapter provides detailed notes on key items in the consolidated financial statements, including accounts receivable where the top five clients account for **53.86%**, inventory primarily comprising work-in-progress, raw materials, and goods in transit, and external investments including long-term equity investment in associate Burteck LLC and other equity instrument investments - Accounts Receivable: The period-end balance was **CNY 446 million**, with a bad debt provision of **CNY 22.38 million** based on aging analysis, and the top five clients' accounts receivable collectively accounted for **53.86%** of the total[246](index=246&type=chunk)[252](index=252&type=chunk) - Inventory: The period-end book value was **CNY 264 million**, primarily composed of work-in-progress, raw materials, and goods in transit, with an inventory impairment provision of **CNY 4.71 million**[266](index=266&type=chunk) - Government Subsidies: During the reporting period, total government subsidies recognized in current profit or loss amounted to **CNY 2.1152 million**, primarily consisting of asset-related and income-related technical transformation project subsidies and special grants[371](index=371&type=chunk)[447](index=447&type=chunk) [Related Parties and Related Party Transactions](index=132&type=section&id=Item%208.4.%20Related%20Parties%20and%20Related%20Party%20Transactions) The company's ultimate controlling parties are Hu Jianli and Zhang Xiujun, with related party transactions during the reporting period primarily involving sales of goods to associate Burteck LLC and related party Wuhan Feien Microelectronics Co., Ltd., and property leases from controlling shareholder Antai Holdings - The company's ultimate controlling parties are Hu Jianli and Zhang Xiujun, who collectively hold **53.675%** of the company's equity through Antai Holding Company and Junrui Investment Company[392](index=392&type=chunk) Related Party Transactions | Related Party Transaction Type | Related Party | Amount Incurred in Current Period (CNY) | | :--- | :--- | :--- | | Sales of Goods | Burteck LLC | 4,371,336.79 | | Sales of Goods | Wuhan Feien Microelectronics Co., Ltd. and its subsidiaries | 3,959,280.92 | | Lease (Lessee) | Antai Holding Company | 541,291.42 |

Major Financial Data [Key Financial Indicators for Q1 2022](index=1&type=section&id=Item%20I.%20(I)%20Major%20Accounting%20Data%20and%20Financial%20Indicators) The company reported robust Q1 2022 financial performance, with revenue growing 14.05% and net profit attributable to shareholders increasing 4.06% Key Financial Indicators for Q1 2022 | Indicator | Current Period | YoY Change (%) | | :--- | :--- | :--- | | Operating Revenue | 314,785,959.21 CNY | 14.05% | | Net Profit Attributable to Shareholders of Listed Company | 30,304,242.86 CNY | 4.06% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Gains/Losses) | 28,189,449.60 CNY | 8.34% | | Net Cash Flow from Operating Activities | 63,257,364.93 CNY | 12.13% | | Basic Earnings Per Share (CNY/share) | 0.15 CNY | 0.00% | | Total Assets (Period-end) | 1,754,286,876.04 CNY | 1.90% (vs. end of prior year) | | Shareholders' Equity Attributable to Shareholders of Listed Company (Period-end) | 1,239,467,261.34 CNY | 2.55% (vs. end of prior year) | [Non-Recurring Gains and Losses Items and Amounts](index=2&type=section&id=Item%20I.%20(II)%20Non-Recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) Non-recurring gains and losses totaled 2.11 million CNY, primarily from wealth management product income and government subsidies Details of Non-Recurring Gains and Losses | Item | Current Period Amount (CNY) | Explanation | | :--- | :--- | :--- | | Gains/Losses on Disposal of Non-Current Assets | 368,148.57 | - | | Government Grants | 889,755.91 | - | | Gains/Losses from Entrusted Investments or Asset Management | 1,212,328.77 | Wealth Management Product Income | | Other Non-Operating Income and Expenses | 16,242.77 | - | | Less: Income Tax Impact | 371,682.76 | - | | **Total** | **2,114,793.26** | - | [Changes and Reasons for Major Accounting Data and Financial Indicators](index=3&type=section&id=Item%20I.%20(III)%20Changes%20and%20Reasons%20for%20Major%20Accounting%20Data%20and%20Financial%20Indicators) Significant fluctuations in financial items include an 88.43% increase in monetary funds and a 767.27% surge in financial expenses due to exchange losses Major Changes in Items and Reasons | Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Monetary Funds | 88.43 | Primarily due to increased bank deposits from maturing wealth management products | | Financial Expenses | 767.27 | Primarily due to increased exchange losses in the current period | | Investment Income | -54.58 | Primarily due to decreased wealth management income from idle funds in the current period | | Gains on Asset Disposal | 35,923.40 | Primarily due to increased gains from fixed asset disposal in the current period | | Net Cash Flow from Investing Activities | 234.85 | Primarily due to reduced purchases of wealth management products with idle funds compared to the same period last year | Shareholder Information [Shareholding Status](index=4&type=section&id=Item%20II.%20(I)%20Total%20Number%20of%20Common%20Shareholders%20and%20Preferred%20Shareholders%20with%20Restored%20Voting%20Rights%20and%20Top%20Ten%20Shareholders%27%20Shareholding%20Status) As of the reporting period end, the company had 13,911 common shareholders, with the controlling shareholder holding 48.35% and some shares pledged - As of the end of the reporting period, the company had **13,911** common shareholders[12](index=12&type=chunk) Top Ten Shareholders' Shareholding Status | Shareholder Name | Shareholder Nature | Shareholding (%) | Pledge Status | | :--- | :--- | :--- | :--- | | Zhejiang Antai Holding Group Co., Ltd. | Domestic Non-State-Owned Legal Person | 48.35 | Pledged 47,620,000 shares | | Zhang Yihua | Domestic Natural Person | 10.80 | None | | Ningbo Junrui Investment Partnership (Limited Partnership) | Domestic Non-State-Owned Legal Person | 5.91 | Pledged 5,000,000 shares | | Zhang Haidong | Domestic Natural Person | 1.39 | None | | Shen Zhaohui | Domestic Natural Person | 0.64 | None | - Controlling shareholder Zhejiang Antai Holding Group Co., Ltd. forms a concerted action relationship with Ningbo Junrui Investment Partnership (Limited Partnership) and Zhang Haidong[13](index=13&type=chunk) Quarterly Financial Statements [Consolidated Balance Sheet](index=5&type=section&id=Consolidated%20Balance%20Sheet) As of March 31, 2022, total assets reached 1.75 billion CNY, growing 1.90%, with a stable asset-liability structure and 65.2% liquidity Key Balance Sheet Data | Item | March 31, 2022 | December 31, 2021 | | :--- | :--- | :--- | | **Total Assets** | **1,754,286,876.04 CNY** | **1,721,551,845.17 CNY** | | Total Current Assets | 1,144,041,644.34 CNY | 1,106,969,954.72 CNY | | Total Non-Current Assets | 610,245,231.70 CNY | 614,581,890.45 CNY | | **Total Liabilities** | **514,819,614.70 CNY** | **512,863,174.47 CNY** | | Total Current Liabilities | 439,178,513.17 CNY | 433,979,205.16 CNY | | **Total Owners' Equity** | **1,239,467,261.34 CNY** | **1,208,688,670.70 CNY** | [Consolidated Income Statement](index=8&type=section&id=Consolidated%20Income%20Statement) Q1 2022 saw total operating revenue of 314.79 million CNY, up 14.05%, with net profit attributable to parent company shareholders at 30.30 million CNY Key Income Statement Data | Item | Q1 2022 | Q1 2021 | | :--- | :--- | :--- | | Total Operating Revenue | 314,785,959.21 CNY | 276,018,276.43 CNY | | Total Operating Costs | 282,430,111.09 CNY | 246,428,678.14 CNY | | Including: Operating Costs | 247,228,114.74 CNY | 212,787,724.62 CNY | | R&D Expenses | 11,612,798.02 CNY | 9,862,938.36 CNY | | Operating Profit | 34,013,423.00 CNY | 34,509,066.97 CNY | | **Net Profit Attributable to Parent Company Shareholders** | **30,304,242.86 CNY** | **29,120,956.05 CNY** | | **Basic Earnings Per Share (CNY/share)** | **0.15 CNY** | **0.15 CNY** | [Consolidated Cash Flow Statement](index=10&type=section&id=Consolidated%20Cash%20Flow%20Statement) The company maintained strong cash flow, with net cash from operating activities at 63.26 million CNY and a significant increase in cash and cash equivalents Key Cash Flow Statement Data | Item | Q1 2022 | Q1 2021 | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 63,257,364.93 CNY | 56,414,227.44 CNY | | Net Cash Flow from Investing Activities | 41,393,637.49 CNY | -30,696,471.62 CNY | | Net Cash Flow from Financing Activities | -5,020,539.49 CNY | -3,587,923.16 CNY | | **Net Increase in Cash and Cash Equivalents** | **99,495,226.50 CNY** | **22,723,959.40 CNY** | | **Cash and Cash Equivalents at Period-end** | **193,229,506.58 CNY** | **155,762,551.95 CNY** |

[Definitions](index=4&type=section&id=%E7%AC%AC%E4%B8%80%E8%8A%82%20%E9%87%8A%E4%B9%89) This section defines key terms and abbreviations used in the report, providing foundational definitions for understanding the content [Definitions of Common Terms](index=4&type=section&id=%E4%B8%80%E3%80%81%20%E9%87%8A%E4%B9%89) This chapter defines key terms and abbreviations used in the report, providing foundational definitions for understanding the content - The report defines abbreviations for the company, key subsidiaries (e.g., Shanghai Tianhai, Tianlong Mould), controlling shareholder (Antai Holding), and other related parties[11](index=11&type=chunk) [Company Profile and Key Financial Indicators](index=4&type=section&id=%E7%AC%AC%E4%BA%8C%E8%8A%82%20%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B%E5%92%8C%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) This section provides the company's basic information and key financial data for the past three years, including quarterly performance and non-recurring gains and losses [Company Basic Information](index=4&type=section&id=%E4%B8%80%E3%80%81%20%E5%85%AC%E5%8F%B8%E4%BF%A1%E6%81%AF) This chapter provides the company's basic business registration information, contact details, information disclosure channels, and stock overview Company Basic Information | Item | Content | | :--- | :--- | | **Company Chinese Name** | 宁波天龙电子股份有限公司 | | **Company Chinese Abbreviation** | 天龙股份 | | **Stock Abbreviation** | 天龙股份 | | **Stock Code** | 603266 | | **Listing Exchange** | Shanghai Stock Exchange | | **Legal Representative** | 胡建立 | [Key Accounting Data and Financial Indicators for the Past Three Years](index=5&type=section&id=%E4%B8%83%E3%80%81%20%E8%BF%91%E4%B8%89%E5%B9%B4%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) In 2021, the company's operating revenue grew by **21.74%** and net profit attributable to shareholders increased by **5.59%**, with profit growth lagging revenue due to rising raw material and labor costs, while total assets and net assets expanded Key Accounting Data for 2021 | Key Accounting Data | 2021 (CNY) | 2020 (CNY) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,184,889,105.59 | 973,308,916.07 | 21.74 | | Net Profit Attributable to Shareholders of Listed Company | 97,958,112.20 | 92,769,838.30 | 5.59 | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Items) | 87,439,099.13 | 82,433,791.56 | 6.07 | | Net Cash Flow from Operating Activities | 147,381,072.70 | 133,807,502.66 | 10.14 | | Total Assets (Period-end) | 1,721,551,845.17 | 1,359,317,240.85 | 26.65 | | Net Assets Attributable to Shareholders of Listed Company (Period-end) | 1,208,688,670.70 | 1,025,762,406.23 | 17.83 | Key Financial Indicators for 2021 | Key Financial Indicators | 2021 | 2020 | YoY Change (%) | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (CNY/share) | 0.50 | 0.47 | 6.38 | | Weighted Average Return on Net Assets (%) | 8.77 | 9.59 | Decrease by 0.82 percentage points | - The company attributes the slower net profit growth compared to revenue growth primarily to rising raw material and labor costs[23](index=23&type=chunk) [Quarterly Financial Data](index=6&type=section&id=%E4%B9%9D%E3%80%81%202021%20%E5%B9%B4%E5%88%86%E5%AD%A3%E5%BA%A6%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%95%B0%E6%8D%AE) In 2021, Q4 operating revenue reached its peak at **CNY 342 million**, but net profit attributable to shareholders was lowest at **CNY 21 million**, showing a quarterly decline Key Quarterly Financial Data for 2021 (Unit: CNY) | Item | Q1 | Q2 | Q3 | Q4 | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 276,018,276.43 | 285,937,095.26 | 281,281,611.87 | 341,652,122.03 | | Net Profit Attributable to Shareholders of Listed Company | 29,120,956.05 | 25,227,278.98 | 22,582,165.85 | 21,027,711.32 | [Non-recurring Gains and Losses](index=7&type=section&id=%E5%8D%81%E3%80%81%20%E9%9D%9E%E5%B8%B8%E8%A7%84%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%92%8C%E9%87%91%E9%A2%9D) In 2021, non-recurring gains and losses totaled **CNY 10.519 million**, primarily from government subsidies and wealth management income, remaining largely consistent with 2020 levels Key Non-recurring Gains and Losses Items for 2021 (Unit: CNY) | Non-recurring Gains and Losses Item | 2021 Amount | | :--- | :--- | | Government Subsidies Recognized in Current Profit/Loss | 6,527,453.66 | | Gains/Losses from Entrusted Investments or Asset Management | 4,969,849.31 | | **Total** | **10,519,013.07** | [Management Discussion and Analysis](index=8&type=section&id=%E7%AC%AC%E4%B8%89%E8%8A%82%20%E7%AE%A1%E7%90%86%E5%B1%82%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) This section provides a comprehensive analysis of the company's operations, industry landscape, core competencies, and future outlook, highlighting key financial performance and strategic initiatives [Discussion and Analysis of Operations](index=8&type=section&id=%E4%B8%80%E3%80%81%E7%BB%8F%E8%90%A5%E6%83%85%E5%86%B5%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) In 2021, despite chip shortages and rising raw material prices, the company achieved revenue and profit growth by focusing on its core business, active R&D, and market expansion, driven primarily by automotive electronics and lightweight products, with steady growth in electrical appliance business, while also strengthening internal management and informatization 2021 Operating Performance Overview | Indicator | Amount (CNY million) | YoY Growth (%) | | :--- | :--- | :--- | | Operating Revenue | 1,184.8891 | 21.74% | | Operating Profit | 106.1882 | 3.52% | | Net Profit Attributable to Shareholders | 97.9581 | 5.59% | - Automotive parts business achieved sales of **CNY 833 million**, a **17.97% year-on-year increase**, with automotive electronic control products growing by **19.18%**[33](index=33&type=chunk) - Electrical appliance business achieved sales of **CNY 217 million**, a **38.13% year-on-year increase**, primarily benefiting from increased domestic and international infrastructure demand[34](index=34&type=chunk) - The company is focusing on developing IGBT functional carrier modules for new energy vehicles, with mass production expected in H2 2022, indirectly supplying Honda[34](index=34&type=chunk) - During the reporting period, the company secured **159 new project nominations**, with **45** related to new energy vehicles[34](index=34&type=chunk) [Industry Analysis](index=9&type=section&id=%E4%BA%8C%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E6%89%80%E5%A4%84%E8%A1%8C%E4%B8%9A%E6%83%85%E5%86%B5) The company operates in the plastic parts manufacturing industry, primarily serving the automotive and electrical appliance sectors; in 2021, the automotive industry ended three consecutive years of decline, with new energy vehicle market penetration reaching **13.4%** driven by market demand, while the electrical appliance industry benefited from stable power investment and the Belt and Road Initiative - The plastic processing industry is trending towards functionalization, lightweighting, precision, ecological sustainability, and intelligence[39](index=39&type=chunk) - In 2021, China's automobile production and sales reached **26.082 million** and **26.275 million** units respectively, growing by **3.4%** and **3.8%** year-on-year[40](index=40&type=chunk) - New energy vehicle production and sales experienced explosive growth, reaching **3.545 million** and **3.521 million** units respectively, both increasing by over **157%** year-on-year, with market penetration reaching **13.4%**[41](index=41&type=chunk) - In 2021, national electricity consumption increased by **10.3%** year-on-year, with stable development in the power industry providing a broad market for low-voltage electrical products[45](index=45&type=chunk) [Main Business and Operating Model](index=11&type=section&id=%E4%B8%89%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E4%BB%8E%E4%BA%8B%E7%9A%84%E4%B8%9A%E5%8A%A1%E6%83%85%E5%86%B5) The company is a one-stop integrated solution provider for precision molds, injection molding, and assembly, with core businesses in automotive parts and electrical appliance precision plastic components, serving Tier-1 suppliers like Bosch and Continental, indirectly supporting mainstream brands such as Volkswagen and Tesla, operating on a 'make-to-order' basis with direct sales to customers - The company is committed to the development direction of 'electronic integration, precision, and lightweighting,' with products primarily applied in automotive parts and electrical appliances[48](index=48&type=chunk) - Automotive electronic control system products, such as electronic water pumps and IGBT modules, are mainly used in new energy vehicles, with most products compatible with both traditional and new energy vehicles[49](index=49&type=chunk)[50](index=50&type=chunk) - Operating Model: Long-term relationships with suppliers for procurement, with some raw materials specified by clients; 'make-to-order' production; direct and order-based sales[51](index=51&type=chunk)[52](index=52&type=chunk)[53](index=53&type=chunk) [Core Competitiveness Analysis](index=13&type=section&id=%E5%9B%9B%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E6%A0%B8%E5%BF%83%E7%AB%9E%E4%BA%89%E5%8A%9B%E5%88%86%E6%9E%90) The company's core competencies include R&D, mold development, national regional layout, experienced management, diverse product lines, and stable high-quality client resources, holding **32 invention patents** and **162 utility model patents**, with long-term partnerships with global leaders like Bosch and Schneider - Technology and R&D advantages: As of end-2021, the company holds **32 invention patents** and **162 utility model patents**, mastering key technologies in mold design and precision injection molding[54](index=54&type=chunk) - Regional layout advantage: Production bases established in industrial clusters across the Yangtze River Delta, Pearl River Delta, Beijing-Tianjin, Central China, Southwest, and Northeast regions, enabling rapid response to client needs[55](index=55&type=chunk) - Client resource advantage: Major clients include well-known domestic and international Tier-1 automotive parts suppliers and electrical appliance manufacturers such as Brose, Hitachi, Continental Automotive, Bosch, and Schneider[56](index=56&type=chunk) [Analysis of Main Operating Performance](index=13&type=section&id=%E4%BA%94%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E4%B8%BB%E8%A6%81%E7%BB%8F%E8%90%A5%E6%83%85%E5%86%B5) In 2021, the company's main business revenue grew by **21.54%** year-on-year, but gross margin decreased by **2.92 percentage points** to **20.68%** due to rising raw material and labor costs; automotive electronics, precision plastic functional components, and electrical appliance products all achieved double-digit revenue growth, with R&D investment of **CNY 47.525 million**, accounting for **4.01%** of revenue, alongside external equity investments in Wuhan Feisite and fund subscriptions Changes in Key Income Statement and Cash Flow Statement Items | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,184,889,105.59 | 973,308,916.07 | 21.74 | | Operating Cost | 935,634,133.45 | 740,091,499.49 | 26.42 | | R&D Expenses | 47,525,018.38 | 41,873,169.82 | 13.50 | | Net Cash Flow from Operating Activities | 147,381,072.70 | 133,807,502.66 | 10.14 | Main Business by Product | Product Segment | Operating Revenue (CNY) | YoY Growth (%) | Gross Margin (%) | YoY Change in Gross Margin | | :--- | :--- | :--- | :--- | :--- | | Automotive Electronic Control Parts | 363,237,339.79 | 19.18 | 19.85 | Decrease by 3.16 percentage points | | Automotive Precision Plastic Functional Structural Components | 469,370,321.87 | 17.05 | 18.18 | Decrease by 4.65 percentage points | | Electrical Appliance Precision Plastic Structural Components | 217,177,980.15 | 38.13 | 21.96 | Decrease by 4.18 percentage points | | Molds | 116,143,405.17 | 21.19 | 31.01 | Increase by 6.67 percentage points | - Total R&D investment in 2021 was **CNY 47.525 million**, accounting for **4.01%** of operating revenue, all expensed[70](index=70&type=chunk)[71](index=71&type=chunk) - The company made new external equity investments, including acquiring and increasing capital in Wuhan Feisite Biotechnology Co., Ltd., and subscribing to fund units of Jiaxing Qijie Equity Investment Partnership (Limited Partnership)[96](index=96&type=chunk)[97](index=97&type=chunk) [Future Development Outlook](index=29&type=section&id=%E5%85%AD%E3%80%81%E5%85%AC%E5%8F%B8%E5%85%B3%E4%BA%8E%E5%85%AC%E5%8F%B8%E6%9C%AA%E6%9D%A5%E5%8F%91%E5%B1%95%E7%9A%84%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) The company will continue to focus on precision manufacturing, with a strategic emphasis on new energy vehicles and automotive electronics, pursuing 'electronic integration, precision, and lightweighting,' while also identifying key risks such as market competition, industry fluctuations, raw material price volatility, talent loss, and ongoing pandemic impacts - Development Strategy: Focus on new energy vehicles and automotive electronics, committed to 'electronic integration, precision, and lightweighting,' and exploring high-end market applications such as medical devices when appropriate[109](index=109&type=chunk) - Operating Plan: Deepen existing client relationships, develop high-complexity products like IGBT functional carrier modules, enhance high-end mold development capabilities, and seek M&A opportunities[110](index=110&type=chunk)[111](index=111&type=chunk) - Key risks include: intensified market competition, fluctuations in downstream automotive and electrical appliance industries, raw material price volatility, loss of core technology and talent, and ongoing impact of the COVID-19 pandemic[112](index=112&type=chunk)[113](index=113&type=chunk)[114](index=114&type=chunk) [Corporate Governance](index=32&type=section&id=%E7%AC%AC%E5%9B%9B%E8%8A%82%20%E5%85%AC%E5%8F%B8%E6%B2%BB%E7%90%86) This section details the company's corporate governance structure, including board and management changes, profit distribution policies, and internal control effectiveness [Overview of Corporate Governance](index=32&type=section&id=%E4%B8%80%E3%80%81%20%E5%85%AC%E5%8F%B8%E6%B2%BB%E7%90%86%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5%E8%AF%B4%E6%98%8E) During the reporting period, the company strictly adhered to relevant laws and regulations, continuously improving its corporate governance structure, revising the Articles of Association and rules for the three meetings in 2021, ensuring a scientific and effective governance framework and independence from the controlling shareholder to protect all shareholders' legitimate rights - The company revised its Articles of Association, Rules of Procedure for Shareholder Meetings, and Rules of Procedure for Board Meetings, among other regulations, in accordance with the new Securities Law and relevant regulations, to enhance governance[116](index=116&type=chunk) - The company maintains independence from its controlling shareholder in personnel, assets, finance, organization, and business, with the Board of Directors, Supervisory Board, and internal departments operating independently[117](index=117&type=chunk) [Directors, Supervisors, and Senior Management](index=35&type=section&id=%E5%9B%9B%E3%80%81%20%E8%91%A3%E4%BA%8B%E3%80%81%E7%9B%91%E4%BA%8B%E5%92%8C%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E7%9A%84%E6%83%85%E5%86%B5) During the reporting period, the company completed the re-election of its Board of Directors and Supervisory Board; Mr. Hu Jianli continued as Chairman, and Mr. Shen Zhaohui was appointed General Manager; the report details the shareholdings, remuneration, and appointments of current and former directors, supervisors, and senior management, with no other concurrent positions in shareholder entities except for Chairman Hu Jianli at Antai Holding - In October 2021, the company completed the re-election of its Board of Directors and Supervisory Board and appointed a new term of senior management[128](index=128&type=chunk) - Mr. Hu Jianli transitioned from Chairman and General Manager to solely Chairman, and Mr. Shen Zhaohui was appointed General Manager[133](index=133&type=chunk) - During the reporting period, the total actual remuneration received by all directors, supervisors, and senior management amounted to **CNY 5.915 million**[132](index=132&type=chunk) [Profit Distribution Policy and Proposal](index=44&type=section&id=%E5%8D%81%E3%80%81%20%E5%88%A9%E6%B6%A6%E5%88%86%E9%85%8D%E6%88%96%E8%B5%84%E6%9C%AC%E5%85%AC%E7%A7%AF%E9%87%91%E8%BD%AC%E5%A2%9E%E9%A2%84%E6%A1%88) The company has established and strictly adheres to a clear cash dividend policy; the 2021 profit distribution proposal is to distribute a cash dividend of **CNY 1.1** (tax inclusive) per **10 shares**, totaling **CNY 21.8775 million**, subject to shareholder approval - The company's profit distribution policy stipulates that, in the absence of major investment plans, annual cash dividends shall not be less than **20%** of the distributable profit for the year[150](index=150&type=chunk) - 2021 profit distribution proposal: Based on the total share capital on the equity distribution record date, a cash dividend of **CNY 1.1** (tax inclusive) per **10 shares** will be distributed to all shareholders[6](index=6&type=chunk) [Internal Control](index=46&type=section&id=%E5%8D%81%E4%BA%8C%E3%80%81%20%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E7%9A%84%E5%86%85%E9%83%A8%E6%8E%A7%E5%88%B6%E5%88%B6%E5%BA%A6%E5%BB%BA%E8%AE%BE%E5%8F%8A%E5%AE%9E%E6%96%BD%E6%83%85%E5%86%B5) During the reporting period, the company continuously improved its internal control system, ensuring a reasonable and effective framework that safeguards the legality, compliance, and asset security of operations; Tianjian Certified Public Accountants issued a standard unqualified audit opinion on the company's 2021 internal controls - The company's internal control system is sound and effective, achieving its intended objectives with no material weaknesses identified[157](index=157&type=chunk) - The accounting firm issued a standard unqualified audit report on the effectiveness of the company's internal controls over financial reporting for 2021[159](index=159&type=chunk) [Environmental and Social Responsibility](index=47&type=section&id=%E7%AC%AC%E4%BA%94%E8%8A%82%20%E7%8E%AF%E5%A2%83%E4%B8%8E%E7%A4%BE%E4%BC%9A%E8%B4%A3%E4%BB%BB) This section outlines the company's commitment to environmental protection and social responsibility, including compliance with environmental regulations and efforts to protect stakeholder rights [Environmental Information](index=47&type=section&id=%E4%B8%80%E3%80%81%E7%8E%AF%E5%A2%83%E4%BF%A1%E6%81%AF%E6%83%85%E5%86%B5) The company and its subsidiaries are not classified as key pollutant-discharging entities; during the reporting period, the company strictly complied with environmental regulations, with no environmental violations or administrative penalties, implementing energy-saving measures like equipment upgrades and water recycling, and establishing emergency response plans for environmental incidents - The company and its subsidiaries are not listed as key pollutant-discharging entities by environmental authorities, and there were no administrative penalties for environmental issues during the reporting period[160](index=160&type=chunk) - The company implemented various energy-saving and consumption-reducing measures, such as purchasing low-energy equipment, using LED lighting, and establishing water recycling systems, to reduce energy consumption and carbon emissions[162](index=162&type=chunk) [Social Responsibility](index=48&type=section&id=%E4%BA%8C%E3%80%81%E7%A4%BE%E4%BC%9A%E8%B4%A3%E4%BB%BB%E5%B7%A5%E4%BD%9C%E6%83%85%E5%86%B5) The company actively fulfills its social responsibilities with specific measures to protect shareholder, employee, supplier, and client rights, engaging with investors through various channels, maintaining stable cash dividends, legally safeguarding employee interests, and fostering mutually beneficial relationships with suppliers and clients - Shareholder Rights: Enhanced communication through performance briefings and investor surveys, and consistent annual cash dividends since listing[164](index=164&type=chunk) - Employee Rights: Legally signed labor contracts, provided occupational health and safety protection, improved compensation incentives and training systems, fostering mutual development between the company and employees[165](index=165&type=chunk) - Supplier and Client Rights: Adhering to the principle of "mutual benefit and collaborative development," establishing strategic partnerships with suppliers and providing reliable quality products to clients[165](index=165&type=chunk) [Significant Matters](index=50&type=section&id=%E7%AC%AC%E5%85%AD%E8%8A%82%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) This section covers significant matters including the fulfillment of commitments, major related party transactions, guarantees, and entrusted wealth management activities [Fulfillment of Commitments](index=50&type=section&id=%E4%B8%80%E3%80%81%E6%89%BF%E8%AF%BA%E4%BA%8B%E9%A1%B9%E5%B1%A5%E8%A1%8C%E6%83%85%E5%86%B5) During the reporting period, the company's actual controllers, shareholders, and the company itself strictly fulfilled all commitments made during the initial public offering and equity incentive events, including share lock-ups, avoidance of horizontal competition, and regulation of related party transactions, with no breaches observed - The company's actual controllers, controlling shareholders, and shareholders holding **5%** or more, among other related parties, strictly fulfilled commitments regarding share lock-ups, reduction intentions, avoidance of horizontal competition, and regulation of related party transactions during the reporting period[168](index=168&type=chunk)[170](index=170&type=chunk)[171](index=171&type=chunk)[177](index=177&type=chunk)[178](index=178&type=chunk) [Major Related Party Transactions](index=55&type=section&id=%E5%8D%81%E4%BA%8C%E3%80%81%E9%87%8D%E5%A4%A7%E5%85%B3%E8%81%94%E4%BA%A4%E6%98%93) During the reporting period, the company's estimated daily related party transaction limit was **CNY 32 million**, with actual transactions totaling **CNY 19.486 million**, remaining within the limit; major related party transactions included sales of **CNY 14.3906 million** to associate Burteck LLC and **CNY 4.9219 million** to related party Wuhan Feien Microelectronics, in addition to leasing property from controlling shareholder Antai Holding for cafeteria and dormitory use - The estimated daily related party transaction limit for 2021 was **CNY 32 million**, with actual transactions amounting to **CNY 19.486 million**, not exceeding the estimated limit[187](index=187&type=chunk) Major Related Party Sales Transactions | Related Party | Related Transaction Content | Amount for Current Period (CNY) | | :--- | :--- | :--- | | Burteck LLC | Sales of Goods | 14,390,604.33 | | Wuhan Feien Microelectronics Co., Ltd. | Sales of Goods | 4,921,901.67 | - The company leased some properties from its controlling shareholder Antai Holding at market prices, recognizing **CNY 0.8563 million** in lease expenses for the current period[563](index=563&type=chunk) [Guarantees](index=61&type=section&id=%28%E4%BA%8C%29%20%E6%8B%85%E4%BF%9D%E6%83%85%E5%86%B5) During the reporting period, the company had no external guarantees; guarantees to subsidiaries primarily supported group bill pool operations and bank credit lines for subsidiary-issued bills, with the period-end guarantee balance to subsidiaries at **CNY 32.6556 million**, representing **2.7%** of the company's net assets - The company had no external guarantees during the reporting period (excluding guarantees to subsidiaries)[197](index=197&type=chunk) Guarantees to Subsidiaries | Item | Amount (CNY) | | :--- | :--- | | Total Guarantees to Subsidiaries During Reporting Period | 48,343,531.37 | | Total Guarantees to Subsidiaries at Period-end | 32,655,617.75 | | Total Guarantees as % of Company's Net Assets | 2.7 | [Entrusted Wealth Management](index=63&type=section&id=%28%E4%B8%89%29%20%E5%A7%94%E6%89%98%E4%BB%96%E4%BA%BA%E8%BF%9B%E8%A1%8C%E7%8E%B0%E9%87%91%E8%B5%84%E4%BA%A7%E7%AE%A1%E7%90%86%E7%9A%84%E6%83%85%E5%86%B5) The company utilized idle self-owned funds for entrusted wealth management, purchasing only principal-protected products during the reporting period, with a maximum daily balance of **CNY 210 million** and an outstanding balance of **CNY 205 million** at period-end, with no overdue unrecovered amounts - The company used idle self-owned funds to purchase principal-protected wealth management products, with the maximum daily balance for such entrusted wealth management reaching **CNY 210 million** during the reporting period[201](index=201&type=chunk) - As of the end of the reporting period, the outstanding balance of wealth management products was **CNY 205 million**, with no overdue unrecovered amounts[201](index=201&type=chunk) [Share Changes and Shareholder Information](index=68&type=section&id=%E7%AC%AC%E4%B8%83%E8%8A%82%20%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E5%8F%8A%E8%82%A1%E4%B8%9C%E6%83%85%E5%86%B5) This section details changes in the company's share capital and provides an overview of its shareholders and actual controllers [Share Capital Changes](index=68&type=section&id=%E4%B8%80%E3%80%81%20%E8%82%A1%E6%9C%AC%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) During the reporting period, the company's total share capital decreased from **198,964,940 shares** to **198,910,550 shares** due to the repurchase and cancellation of some restricted shares; concurrently, the lifting of sales restrictions on certain restricted shares led to a decrease in restricted shares and an increase in unrestricted shares - Due to the repurchase and cancellation of **54,390 restricted shares**, the company's total share capital decreased to **198,910,550 shares**[211](index=211&type=chunk)[212](index=212&type=chunk) - Due to the lifting of sales restrictions on **949,812 restricted shares**, restricted shares at period-end decreased to **1,196,716 shares**, accounting for **0.60%** of total share capital[211](index=211&type=chunk)[212](index=212&type=chunk) [Shareholders and Actual Controllers](index=70&type=section&id=%E4%B8%89%E3%80%81%20%E8%82%A1%E4%B8%9C%E5%92%8C%E5%AE%9E%E9%99%85%E6%8E%A7%E5%88%B6%E4%BA%BA%E6%83%85%E5%86%B5) As of the end of the reporting period, the company had **13,040 shareholders**; the controlling shareholder is Zhejiang Antai Holding Group Co., Ltd., holding **48.35%**, and the actual controllers are Mr. Hu Jianli and Ms. Zhang Xiujun; the top ten shareholders' holdings remained relatively stable, with some shares of controlling shareholder Antai Holding pledged - As of end-2021, the company had a total of **13,040 common shareholders**[219](index=219&type=chunk) Top Three Shareholders' Shareholdings | Shareholder Name | Shares Held at Period-end (shares) | Percentage (%) | Share Status | | :--- | :--- | :--- | :--- | | Zhejiang Antai Holding Group Co., Ltd. | 96,167,400 | 48.35 | Pledged 47,620,000 | | 张益华 | 21,489,660 | 10.80 | None | | 宁波均瑞投资合伙企业(有限合伙) | 11,760,000 | 5.91 | Pledged 5,000,000 | - The company's controlling shareholder is Zhejiang Antai Holding Group Co., Ltd., and the actual controllers are Mr. Hu Jianli and Ms. Zhang Xiujun[226](index=226&type=chunk)[228](index=228&type=chunk) [Preferred Shares Information](index=75&type=section&id=%E7%AC%AC%E5%85%AB%E8%8A%82%20%E4%BC%98%E5%85%88%E8%82%A1%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) This section states that the company has no preferred shares [Preferred Shares Information](index=75&type=section&id=%E7%AC%AC%E5%85%AB%E8%8A%82%20%E4%BC%98%E5%85%88%E8%82%A1%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) This section states that the company has no preferred shares - The company is not subject to preferred share regulations during this reporting period[231](index=231&type=chunk) [Bonds Information](index=76&type=section&id=%E7%AC%AC%E4%B9%9D%E8%8A%82%20%E5%80%BA%E5%88%B8%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) This section states that the company has no bonds or debt financing instruments [Bonds Information](index=76&type=section&id=%E7%AC%AC%E4%B9%9D%E8%8A%82%20%E5%80%BA%E5%88%B8%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) This section states that the company has no bonds or debt financing instruments - The company is not subject to bond-related regulations during this reporting period[233](index=233&type=chunk) [Financial Report](index=76&type=section&id=%E7%AC%AC%E5%8D%81%E8%8A%82%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E5%91%8A) This section presents the audited financial statements, including the audit report, balance sheets, income statements, cash flow statements, and notes on significant accounting policies and related party transactions [Audit Report](index=76&type=section&id=%E4%B8%80%E3%80%81%20%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A) Tianjian Certified Public Accountants issued a standard unqualified audit opinion on the company's 2021 financial statements; key audit matters included 'revenue recognition' and 'impairment of accounts receivable,' with auditors concluding that the financial statements fairly present the company's financial position and operating results in all material respects - Tianjian Certified Public Accountants (Special General Partnership) issued a standard unqualified audit report[234](index=234&type=chunk) - Key audit matters include: - **Revenue Recognition**: Due to its nature as a key performance indicator and the inherent risk of management manipulating recognition to achieve specific targets - **Impairment of Accounts Receivable**: Due to its material amount and the significant management judgment involved in impairment testing[237](index=237&type=chunk)[239](index=239&type=chunk) [Financial Statements](index=81&type=section&id=%E4%BA%8C%E3%80%81%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section includes the company's 2021 consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity, showing total assets increased to **CNY 1.722 billion**, operating revenue was **CNY 1.185 billion**, and net profit was **CNY 98 million** Key Consolidated Balance Sheet Items (2021-12-31) | Item | Amount (CNY) | | :--- | :--- | | Total Assets | 1,721,551,845.17 | | Total Liabilities | 512,863,174.47 | | Total Equity Attributable to Parent Company Owners | 1,208,688,670.70 | Key Consolidated Income Statement Items (2021) | Item | Amount (CNY) | | :--- | :--- | | Total Operating Revenue | 1,184,889,105.59 | | Operating Profit | 106,188,221.72 | | Net Profit | 97,958,112.20 | [Significant Accounting Policies and Estimates](index=101&type=section&id=%E4%BA%94%E3%80%81%20%E9%87%8D%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%94%BF%E7%AD%96%E5%8F%8A%E4%BC%9A%E8%AE%A1%E4%BC%B0%E8%AE%A1) This section details the enterprise accounting standards followed and key accounting policies and estimates adopted by the company; the most significant accounting policy change during the reporting period was the adoption of new lease standards from January 1, 2021, and retrospective adjustments to the presentation of transportation and handling expenses - The company adopted new lease standards from January 1, 2021, adjusting relevant financial statement items at the date of initial application, such as recognizing right-of-use assets and lease liabilities[367](index=367&type=chunk) - The company reclassified transportation and handling expenses, previously recorded under 'selling expenses,' to 'cost of sales,' with retrospective adjustments to 2020 comparative data, a change that does not affect net profit[371](index=371&type=chunk) [Notes to Consolidated Financial Statement Items](index=131&type=section&id=%E4%B8%83%E3%80%81%20%E5%90%88%E5%B9%B6%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E9%A1%B9%E7%9B%AE%E6%B3%A8%E9%87%8A) This section provides detailed notes on key consolidated financial statement items; period-end accounts receivable had a book value of **CNY 427 million**, and inventories had a book value of **CNY 252 million**; the company's subsidiaries benefit from a **15%** preferential income tax rate as high-tech enterprises, with detailed disclosures on government subsidies and entrusted wealth management - Period-end accounts receivable had a book balance of **CNY 450 million**, with an allowance for doubtful accounts of **CNY 22.6721 million**, resulting in a book value of **CNY 427 million**[398](index=398&type=chunk)[400](index=400&type=chunk) - Period-end inventory had a book value of **CNY 252 million**, primarily comprising work-in-progress, raw materials, and finished goods[418](index=418&type=chunk) - The company and several subsidiaries are recognized as high-tech enterprises, enjoying a **15%** preferential corporate income tax rate[382](index=382&type=chunk)[383](index=383&type=chunk)[384](index=384&type=chunk) - During the reporting period, the company received asset-related and income-related government subsidies, with **CNY 6.5275 million** recognized in current profit or loss[512](index=512&type=chunk)[616](index=616&type=chunk) [Related Parties and Related Party Transactions](index=188&type=section&id=%E5%8D%81%E4%BA%8C%E3%80%81%20%E5%85%B3%E8%81%94%E6%96%B9%E5%8F%8A%E5%85%B3%E8%81%94%E4%BA%A4%E6%98%93) The company's ultimate controlling parties are Mr. Hu Jianli and Ms. Zhang Xiujun; during the reporting period, the company engaged in related party transactions including sales and purchases of goods and leases, primarily sales to associate Burteck LLC and property leases from controlling shareholder Antai Holding; total remuneration for key management personnel was **CNY 5.915 million** - The company's ultimate controlling parties are Mr. Hu Jianli and Ms. Zhang Xiujun[557](index=557&type=chunk) Major Related Party Transactions (2021) | Related Party | Transaction Content | Amount (CNY) | | :--- | :--- | :--- | | Burteck LLC | Sales of Goods | 14,390,604.33 | | Wuhan Feien Microelectronics Co., Ltd. | Sales of Goods | 4,921,901.67 | | Antai Holding Company | Lease of Property | 856,297.16 | - Total remuneration for key management personnel in 2021 was **CNY 5.915 million**[564](index=564&type=chunk) [Events After Balance Sheet Date](index=194&type=section&id=%E5%8D%81%E4%BA%94%E3%80%81%20%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8%E6%97%A5%E5%90%8E%E4%BA%8B%E9%A1%B9) Subsequent to the balance sheet date, the company's Board of Directors approved the 2021 profit distribution plan, proposing a cash dividend of **CNY 1.1** per **10 shares**; additionally, the company continued to implement equity incentive repurchase and cancellation, and plans to invest **CNY 50 million** to subscribe for new fund units, specifically for investment in Guangzhou CanSemi Technology - The Board of Directors approved the 2021 profit distribution plan, proposing a cash dividend of **CNY 1.1** (tax inclusive) per **10 shares**[576](index=576&type=chunk) - In January 2022, the Board of Directors approved the repurchase and cancellation of **23,800 restricted shares** that no longer met incentive conditions[577](index=577&type=chunk) - In April 2022, the Board of Directors approved the company's use of **CNY 50 million** of its own funds to subscribe for fund units of Jiaxing Junman Equity Investment Partnership, specifically for investment in Guangzhou CanSemi Technology[578](index=578&type=chunk)

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 2021 年第三季度报告 证券代码：603266 证券简称：天龙股份 宁波天龙电子股份有限公司 2021 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、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 | 项目 | 本报告期 | 本报告期比 上年同期增 | | 年初至报告期 末比上年同期 | | --- | --- | --- | --- | --- | | | | 减变动幅度 | 年初至报告期末 | 增减变动幅度 | | | | (%) | | (%) | | 营业收入 | 281,281,611.87 | 4.40 | 843,236,983.56 | 26.22 ...

Financial Performance - The company's operating revenue for the first half of 2021 was ¥561,955,371.69, representing a 40.97% increase compared to ¥398,636,032.37 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was ¥54,348,235.03, up 39.40% from ¥38,986,959.41 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was ¥48,927,997.55, reflecting a 39.95% increase from ¥34,960,927.16 year-on-year[20]. - The basic earnings per share increased to ¥0.28, a 40.00% rise compared to ¥0.20 in the same period last year[21]. - The diluted earnings per share rose to ¥0.27, marking a 35.00% increase from ¥0.20 year-on-year[21]. - The weighted average return on net assets increased to 5.17%, up by 0.97 percentage points from 4.20% in the previous year[21]. - The net cash flow from operating activities was ¥67,588,661.72, down 28.56% from ¥94,608,108.48 in the same period last year[20]. - The total assets at the end of the reporting period were ¥1,495,883,309.46, a 10.05% increase from ¥1,359,317,240.85 at the end of the previous year[20]. - The net assets attributable to shareholders of the listed company were ¥1,066,970,797.80, reflecting a 4.02% increase from ¥1,025,762,406.23 at the end of the previous year[20]. Market and Industry Insights - The company specializes in precision manufacturing, focusing on precision molds, injection molding, and automated assembly technologies, primarily serving the automotive and electrical industries[26]. - Major clients in the automotive sector include Bosch, Valeo, and Denso, with products supplied to leading car manufacturers such as Volkswagen, Toyota, and Tesla[26]. - The plastic parts manufacturing industry in China has seen rapid growth, with expectations for continued recovery and improvement in key indicators in 2021[33]. - New energy vehicles (NEVs) saw production and sales of 1.215 million and 1.206 million units from January to June 2021, marking a year-on-year increase of 200%[37]. - The demand for automotive electronic products is expected to rise significantly due to the shift towards electrification, connectivity, and intelligence in the automotive industry[38]. Research and Development - The company has obtained 31 invention patents and 148 utility model patents as of June 30, 2021, showcasing its strong R&D capabilities[44]. - R&D expenses increased by 24.56% to CNY 22.36 million, indicating a focus on product development[52]. - The company emphasizes the importance of experienced management and mold development teams to maintain high precision and quality in plastic parts production, which is critical for securing major client orders[62]. - The company focuses on precision mold development and manufacturing, which is crucial for ensuring high precision and quality in injection molded products[42]. Operational Strategy - The company maintains a stable procurement model for raw materials, primarily sourcing plastic pellets domestically, which are subject to fluctuations in oil prices[29]. - The production process is based on precision mold development, with a focus on "sales-driven production" and the use of an ERP system for management[29]. - The company’s sales strategy is direct to customers, utilizing order-based sales without intermediaries, and includes consignment and direct sales both domestically and internationally[31]. - The company has established production bases in key automotive and electrical appliance industry clusters across China, enhancing its regional layout advantage[46]. Financial Management and Governance - The company did not disclose any plans for profit distribution or capital reserve transfer to increase share capital during the reporting period[5]. - The company has implemented digital transformation initiatives, including the introduction of project management and HR information systems to optimize business processes[49]. - The company has ensured compliance with relevant laws and regulations regarding shareholding changes by its directors and senior management[82]. - The commitments made by shareholders are aimed at maintaining market stability and protecting investor interests[78]. Environmental and Social Responsibility - The company has established a robust environmental management system, ensuring compliance with national environmental protection laws and regulations[72]. - The company has taken measures to reduce carbon emissions by upgrading to energy-efficient equipment and implementing a closed-loop cooling system[73]. - The company has developed an emergency response plan for environmental incidents, ensuring effective management and protection of employee safety and environmental integrity[74]. Shareholder Information - The actual controller Hu Jiliang committed to not transferring more than 25% of his total shares annually during his tenure, and if he leaves, he will not transfer shares for six months[79]. - The actual controller Zhang Xiuqun made a similar commitment regarding share transfers, ensuring the price will not be lower than the IPO price[80]. - The controlling shareholder Antai Holdings intends to limit share reductions to no more than 10% in the first year and 15% in the second year after the lock-up period, with prices not below the IPO price[84]. - All shareholders with more than 5% holdings have indicated a long-term holding intention, reflecting confidence in the company's future[85]. Financial Position and Assets - The company's total current assets amounted to RMB 1,014,215,196.71, an increase from RMB 994,437,414.41 at the end of 2020, reflecting a growth of approximately 2.8%[127]. - The cash and cash equivalents stood at RMB 184,621,984.68, up from RMB 146,221,290.77 at the end of 2020, indicating a growth of about 26.3%[127]. - The company's inventory increased to RMB 255,846,386.83 from RMB 217,473,003.38, representing a rise of approximately 17.7%[127]. - The total liabilities as of June 30, 2021, were not disclosed but are critical for assessing the company's leverage and financial health[127]. Future Outlook - The company plans to focus on expanding its market presence and enhancing product offerings in the upcoming quarters[152]. - Research and development efforts are being prioritized to innovate new products and technologies[152]. - Future guidance indicates a cautious but optimistic outlook, with expectations for gradual recovery and growth in revenue[152].

Financial Performance - The company's operating revenue for 2020 was CNY 973,308,916.07, representing a year-on-year increase of 5.91% compared to CNY 919,004,676.41 in 2019[21]. - The net profit attributable to shareholders for 2020 was CNY 92,769,838.30, a significant increase of 42.48% from CNY 65,111,109.59 in 2019[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 82,433,791.56, reflecting a 51.51% increase from CNY 54,408,241.75 in 2019[21]. - The cash flow generated from operating activities was CNY 133,807,502.66, up 57.08% from CNY 85,182,659.19 in 2019[21]. - Basic earnings per share increased by 42.42% to CNY 0.47 compared to the previous year[22]. - Net profit attributable to shareholders grew by 42.48% year-on-year, driven by increased R&D investment and new project production[22]. - Operating income rose by 5.91% year-on-year, with a gross profit margin increase of 10.57%[22]. - The weighted average return on equity improved by 2.21 percentage points to 9.59%[22]. - The company saved CNY 8.67 million in expenses, a reduction of 5.16% year-on-year, due to cost control measures[22]. - Quarterly revenue for Q4 reached CNY 305.25 million, marking a continuous increase throughout the year[26]. - The net profit for Q4 attributable to shareholders was CNY 25.04 million, showing a strong performance in the last quarter[26]. Investment and R&D - The company has actively invested in automotive electronics and lightweight materials, contributing to its growth strategy[22]. - The company has obtained 29 invention patents and 140 utility model patents as of December 31, 2020, showcasing its strong R&D capabilities in mold design and precision injection molding[47]. - The company emphasizes the importance of technology talent cultivation and R&D investment, maintaining a team of innovative technical personnel[47]. - The company’s R&D expenses decreased by 8.67% to CNY 41.87 million, attributed to reduced labor costs due to the pandemic[58]. - The company plans to strengthen collaboration with major automotive and electrical appliance clients to improve its research and development capabilities[84]. Market and Industry Trends - The automotive industry is undergoing a transformation towards electrification, connectivity, intelligence, and sharing, creating significant growth opportunities for the company in the emerging components sector[41]. - The plastic processing industry in China is transitioning from high-speed growth to stable medium-speed growth, indicating significant development potential and opportunities[95]. - The company’s products are primarily used in the automotive and electrical appliance sectors, serving major international suppliers[32]. - The automotive electronic control system products are increasingly utilized in new energy vehicles, indicating a shift towards electric and hybrid technologies[32]. - The shift from policy-driven to market-driven growth in the new energy vehicle sector is expected to lead to sustained rapid growth in the coming years[41]. Operational Efficiency - The company has optimized its production processes, including precision mold production and insert injection manufacturing, to enhance operational efficiency[87]. - The company has developed a two-stage slider internal extraction technology for molds, which has reached mass production level, ensuring product integrity during the demolding process[85]. - The company has achieved mass production of a delayed ejector technology that automates the separation of products from sprues, improving production efficiency and reducing labor costs[85]. - The company has introduced a two-color injection molding technology that improves production efficiency and product quality while reducing costs[86]. Financial Management - The company reported a significant increase in investment income, reaching 93,126,384.51 with a growth rate of 47.09% compared to the previous year[76]. - The company has a total of RMB 177 million in unexpired principal-protected financial products purchased with self-owned funds as of December 31, 2020[149]. - The company has engaged in multiple financial products with varying return rates, with the highest reported at 4.40%[152]. - The company’s cash and cash equivalents at the end of the reporting period amounted to 13,182,008.37, primarily restricted due to bank acceptance bill guarantees[78]. Shareholder and Governance - The actual controller, Hu Jiansheng, committed to not transferring more than 25% of his total shareholdings annually during his tenure, and no transfers for six months post-departure[116]. - The controlling shareholder, Antai Holdings, also committed to not reducing its shareholdings below the IPO price for 24 months post-lockup[118]. - The company’s board members and senior management have agreed to limit their share transfers to 25% of their holdings annually during their tenure[119]. - The company has established commitments to resolve related party transactions and competition issues[116]. - The company has not proposed a cash profit distribution plan despite having positive profits, which requires detailed disclosure of reasons and future plans[115]. Compliance and Risk Management - The company emphasizes the importance of maintaining a skilled management team and core technology to ensure high precision and quality in its products, as talent competition intensifies in the industry[106]. - The company is subject to risks from intensified market competition and potential operational missteps that could lead to a decline in market position[104]. - The company has confirmed that it and its controlling shareholders have maintained good integrity without any court judgments or significant debts unpaid[134]. - The company strictly adhered to environmental protection laws and regulations, with no violations or administrative penalties reported during the reporting period[158]. Employee and Training - The total number of employees in the parent company is 448, and in major subsidiaries, it is 961, resulting in a total of 1,409 employees[192]. - The company has a structured approach to performance-based remuneration linked to annual assessments[190]. - The company has established a comprehensive training system and is committed to continuous employee development aligned with its strategic goals[194]. - In 2020, the company organized 4 training sessions for mid-level and technical personnel, with nearly 261 participants[194].