2018 年第三季度报告 1 / 22 | 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 | 9 | 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 公司负责人是蓉珠、主管会计工作负责人陆鹏及会计机构负责人（会计主管人员）任琦凤保 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。 公司代码：603286 公司简称：日盈电子 江苏日盈电子股份有限公司 2018 年第三季度报告 √适用 □不适用 单位：元 币种：人民币 | 项目 | 本期金额 | | 年初至报告期末金额 | 说明 | | --- | --- | --- | --- | --- | | | （7－9 月） | | （1-9 月） | | | 非流动资产处置损益 | ...

Financial Performance - The company achieved operating revenue of CNY 160,078,446.08 for the first half of 2018, representing a 12.63% increase compared to the same period last year[18]. - The net profit attributable to shareholders of the listed company was CNY 12,756,349.17, a decrease of 24.25% year-on-year[18]. - The net profit after deducting non-recurring gains and losses was CNY 10,517,193.54, down 35.89% from the previous year[18]. - The net cash flow from operating activities was CNY 15,304,701.93, an increase of 34.28% compared to the same period last year[18]. - Basic earnings per share for the first half of 2018 were CNY 0.14, down 44.00% from CNY 0.25 in the same period last year[19]. - The weighted average return on net assets was 2.97%, a decrease of 3.6 percentage points compared to the previous year[19]. - The company reported a total comprehensive income of CNY 12,260,673.58 for the first half of 2018, down from CNY 16,417,070.65 in the previous year, a decrease of about 25.9%[101]. Revenue and Cost Analysis - Operating costs increased by 19.31% to ¥110,959,864.26 from ¥92,997,804.60, attributed to the rise in sales volume[48]. - The company reported a total operating revenue for the first half of 2018 of CNY 160,078,446.08, an increase of 12.8% compared to CNY 142,128,127.74 in the same period last year[97]. - Total operating costs amounted to CNY 147,178,186.93, up from CNY 123,817,034.17, reflecting a year-over-year increase of 19.0%[97]. - The increase in sales, research and development expenses, and labor costs were the main reasons for the decline in net profit[19]. Assets and Liabilities - The company's total assets at the end of the reporting period were CNY 569,819,055.75, a slight decrease of 0.07% from the end of the previous year[18]. - The net assets attributable to shareholders of the listed company increased by 0.56% to CNY 425,459,260.11 compared to the end of the previous year[18]. - Total liabilities decreased from CNY 147,142,465.79 to CNY 144,359,795.64, a decline of approximately 1.2%[92]. - Total equity increased from CNY 423,095,879.06 to CNY 425,459,260.11, an increase of about 0.6%[92]. Research and Development - The company follows a market demand-driven R&D model, focusing on "import substitution" and synchronizing development with automotive manufacturers, which reduces R&D risks and shortens cycles[26]. - The company emphasizes technological innovation and has established a reward mechanism to enhance R&D personnel's creativity and technical capabilities[26]. - R&D expenses increased due to the introduction of high-end technical talent and the enhancement of product development processes[43]. - The company has established R&D institutions in Changzhou and Shanghai to support its innovation efforts and maintain a competitive edge in technology[25]. Market and Sales Strategy - The company’s sales model is primarily direct sales to automotive and motorcycle manufacturers, focusing on domestic markets[29]. - The company has become a supplier for major automotive manufacturers including FAW-Volkswagen and SAIC Volkswagen, enhancing its market presence[44]. - The company is actively developing partnerships with well-known domestic automakers such as FAW Toyota and Beijing Benz[44]. - The company aims to maintain long-term stable relationships with clients through annual contract negotiations and framework agreements based on customer orders[33]. Inventory Management - The ending inventory balance is 70,790,576.52 RMB, an increase from the beginning balance of 61,848,360.44 RMB, reflecting a growth of approximately 14.8%[200]. - The work-in-progress inventory increased significantly from 7,297,481.88 RMB to 12,633,746.84 RMB, representing a growth of approximately 73.5%[200]. - The total provision for inventory impairment is 1,274,996.44 RMB, slightly up from 1,273,128.08 RMB, indicating a stable impairment provision[200]. - The increase in work-in-progress inventory suggests potential growth in production capacity and future sales[200]. Risks and Challenges - The company faces risks related to customer concentration, with significant revenue reliance on major clients such as FAW-Volkswagen and SAIC-Volkswagen[54]. - The automotive industry is facing significant risks related to large-scale recalls, which could lead to substantial claims from customers against the company due to quality issues with its parts[55]. - The company faces risks of operational performance decline due to intensified competition and rising raw material costs in the automotive parts sector[55]. - The company’s future outlook remains cautious, with potential risks from economic downturns affecting consumer demand in the automotive market[55]. Shareholder and Governance - The company has not proposed any profit distribution or capital reserve increase plans for the half-year period, indicating a focus on retaining earnings[59]. - The company is committed to maintaining control over its stock and has outlined specific restrictions on share transfers for its major shareholders[61]. - The company reported a lock-up period of 36 months for shares held by actual controllers after the IPO[62]. - The company will announce any intended share reductions 3 trading days in advance[63]. Compliance and Audit - The company has retained Tianjian Accounting Firm for the 2018 audit, ensuring continuity in financial oversight[71]. - The company has committed to maintaining compliance with environmental regulations, ensuring no violations occurred during the reporting period[75]. - There were no major related party transactions reported, reflecting a focus on transparency and governance[74]. Accounting Policies - The company adheres to the accounting standards for enterprises, ensuring that the financial statements accurately reflect its financial position and operating results[122]. - The company employs the equity method for joint ventures and recognizes its share of assets, liabilities, and income accordingly[128]. - The company recognizes gains or losses from changes in the fair value of financial assets or liabilities, with specific treatments for different categories[133]. - The company has established specific accounting policies for bad debt provisions, depreciation of fixed assets, and revenue recognition based on its operational characteristics[122].

Financial Performance - The company's operating revenue for 2017 was RMB 317,631,497.73, representing a year-on-year increase of 15.29% compared to RMB 275,507,293.38 in 2016[21]. - The net profit attributable to shareholders of the listed company for 2017 was RMB 33,738,998.56, an increase of 8.59% from RMB 31,069,463.28 in 2016[21]. - The net profit after deducting non-recurring gains and losses was RMB 29,932,446.89, showing a slight decrease of 1.54% from RMB 30,400,598.28 in 2016[21]. - The net cash flow from operating activities increased significantly by 67.24% to RMB 33,799,473.46 from RMB 20,209,818.11 in 2016[21]. - As of the end of 2017, the total assets of the company were RMB 570,238,344.85, a 41.56% increase from RMB 402,815,941.83 at the end of 2016[21]. - The net assets attributable to shareholders of the listed company reached RMB 423,095,879.06, reflecting a substantial increase of 70.72% from RMB 247,823,687.98 in 2016[21]. - Basic earnings per share decreased by 6.38% to CNY 0.44 from CNY 0.47 in the previous year[22]. - The weighted average return on equity decreased by 3.32 percentage points to 10.06%[22]. Revenue Sources and Growth - Operating revenue increased by 15.29% year-on-year, driven by growth in motorcycle harnesses, automotive electronic products, and small automotive harness sales[22]. - Net profit attributable to shareholders increased by 8.59% year-on-year, primarily due to listing rewards received[22]. - The company’s main business revenue from automotive and motorcycle components was CNY 295.96 million, accounting for 93.67% of total main business revenue[57]. - The main business cost for automotive and motorcycle components was CNY 196.96 million, representing 92.12% of total main business costs[57]. Investment and R&D - Research and development expenses amounted to CNY 17.13 million, a decrease of 5.55% from the previous year[56]. - The total R&D expenditure amounted to ¥17,134,210.15, representing 5.39% of the total revenue, with 112 R&D personnel accounting for 12.05% of the total workforce[67]. - The company is actively pursuing collaborations with research institutions to enhance its product offerings and contribute to the upgrade of the automotive electronics industry in China[44]. - The company has established a research and development center for automotive washing systems in Jiangsu Province and has set up R&D centers in Changzhou and Shanghai[44]. Market Position and Strategy - The company has become a supplier for major automotive manufacturers including FAW-Volkswagen, SAIC Volkswagen, and SAIC General Motors, enhancing its brand influence and market presence[45]. - The company’s pricing strategy is flexible, primarily based on cost-plus pricing, with annual price reductions of approximately 3%-5% for automotive parts due to market conditions[40]. - The company aims to become a specialized parts manufacturer in the automotive cleaning systems, precision injection molding, and automotive electronics sectors within 3-5 years, focusing on global business layout[85]. - The automotive platform strategy adopted by major manufacturers is strengthening relationships with parts suppliers, which could benefit the company[83]. Risks and Challenges - The company faces risks related to customer concentration, with significant revenue reliance on major clients like FAW-Volkswagen and SAIC Volkswagen, which could impact operations if demand declines[89]. - The company is focusing on the development of automotive electronic sensors, which are increasingly important in the market, but faces risks related to new product certification and customer development[89]. - Fluctuations in the prices of key raw materials such as plastic pellets, copper wire, and rubber hoses could impact the company's operating performance if not managed properly[90]. - The automotive parts industry typically experiences annual price declines of 3%-5% within 1-3 years after new product supply, which could adversely affect the company's performance if costs are not controlled[90]. Corporate Governance and Shareholder Commitments - The company has a cash dividend policy that mandates a minimum distribution of 20% of the distributable profits when net profits are positive[93]. - The company’s major shareholder committed to not transferring or managing shares for 36 months post-IPO, ensuring stability in control[101]. - The company has committed to maintaining control and stability in strategic decisions for two years after the lock-up period ends[102]. - The company has established measures to prevent any potential competition from entities controlled by its shareholders[108]. Employee and Management Structure - The total number of employees in the parent company is 667, and in major subsidiaries is 247, totaling 914 employees[152]. - The workforce consists of 588 production personnel, 42 sales personnel, 142 technical personnel, 14 financial personnel, and 143 administrative personnel, totaling 929[152]. - The company has a diverse management team with extensive experience in various industries, including finance and technology[149]. - The company has established a performance-based remuneration system for its senior management[150]. Financial Health and Asset Management - Cash and cash equivalents increased by 254.98% to 75,653,772, accounting for 13.27% of total assets[71]. - Accounts receivable rose by 8.34% to 89,312,293, representing 15.66% of total assets[71]. - Inventory increased by 21.06% to 60,575,232, making up 10.62% of total assets[71]. - Total liabilities decreased to CNY 147,142,465.79 from CNY 154,992,253.85, a reduction of about 5.1%[193].

Financial Performance - Operating revenue increased by 7.30% to CNY 70,388,254.84 compared to the same period last year[6] - Net profit attributable to shareholders decreased by 22.76% to CNY 5,438,600.57 compared to the same period last year[6] - Basic and diluted earnings per share decreased by 27.27% to CNY 0.08 compared to the same period last year[6] - Total operating revenue for the current period reached ¥70,388,254.84, an increase of 7.3% compared to ¥65,597,355.46 in the previous period[25] - Net profit for the current period was ¥7,259,610.60, representing a 1.3% increase from ¥7,164,976.80 in the previous period[26] - The total profit for the current period was ¥8,029,286.90, slightly up from ¥7,968,336.42 in the previous period[26] Cash Flow - Cash flow from operating activities decreased by 10.27% to CNY 10,971,392.90 compared to the same period last year[6] - Cash flow from operating activities was ¥120,613,325.97, significantly higher than ¥91,473,702.11 in the previous period, indicating improved cash generation[31] - Operating cash inflow totaled CNY 126,159,486.11, an increase from CNY 93,934,017.73 in the previous period, reflecting a growth of approximately 34.3%[32] - Total cash inflow from operating activities was CNY 104,138,872.34, compared to CNY 87,328,186.64 in the previous period, marking a growth of 19.2%[34] - Net cash outflow from investing activities was CNY -5,584,474.15, compared to CNY -6,840,173.35 in the prior period, indicating an improvement of 18.4%[33] - Cash inflow from investment activities totaled CNY 26,517,410.41, compared to CNY 1,649,572.60 in the prior period, indicating a substantial increase of 1,505.5%[32] - The net increase in cash and cash equivalents for the period was CNY 4,635,954.69, compared to CNY 1,552,228.96 in the previous period, representing a growth of 198.5%[33] Assets and Liabilities - Total assets decreased by 2.81% to CNY 554,213,686.74 compared to the end of the previous year[6] - Total current assets decreased from CNY 309,427,065.91 at the beginning of the year to CNY 285,918,898.14, a decline of approximately 7.6%[16] - Accounts receivable decreased from CNY 89,312,293.86 to CNY 74,446,730.53, representing a reduction of about 16.6%[16] - Inventory increased from CNY 60,575,232.36 to CNY 66,604,177.49, an increase of approximately 10.4%[16] - Total liabilities decreased from CNY 147,142,465.79 to CNY 123,858,197.08, a decrease of about 15.9%[18] - Total equity increased from CNY 423,095,879.06 to CNY 430,355,489.66, reflecting a growth of approximately 1.7%[18] Shareholder Information - The number of shareholders at the end of the reporting period was 13,151[11] - The largest shareholder, Si Rongzhu, holds 23.59% of the shares[11] Other Financial Metrics - Non-recurring gains and losses totaled CNY 1,821,010.03, primarily from government subsidies and investment income[7] - The weighted average return on equity decreased by 1.07 percentage points to 1.70%[6] - Cash and cash equivalents increased from CNY 75,653,772.89 to CNY 80,289,727.58, an increase of about 7.2%[16] - Short-term borrowings remained stable at CNY 50,000,000.00[17] - Other receivables increased from CNY 56,459.08 to CNY 316,036.10, a significant increase of approximately 460.5%[16] - Non-current assets increased from CNY 260,811,278.94 to CNY 268,294,788.60, an increase of about 2.0%[17] - The company has not disclosed any new product developments or market expansion strategies in this report[13]

Financial Performance - Operating revenue for the first nine months rose by 19.77% to CNY 213,858,662.77 compared to the same period last year[6] - Net profit attributable to shareholders increased by 3.17% to CNY 20,192,191.10 compared to the same period last year[6] - Total revenue for Q3 2017 reached ¥71,730,535.03, a 27.7% increase from ¥56,182,294.13 in Q3 2016[26] - Year-to-date revenue for 2017 was ¥213,858,662.77, up 19.8% from ¥178,554,195.23 in the same period last year[26] - Net profit for Q3 2017 was ¥3,353,158.68, down 39.5% from ¥5,543,416.84 in Q3 2016[27] - The total profit for the first nine months of 2017 was CNY 20,982,742.42, slightly down from CNY 21,148,936.14 in the same period last year, indicating a decrease of about 0.8%[29] - The company reported a net profit of CNY 19,102,383.41 for the first nine months of 2017, compared to CNY 19,431,372.25 in the previous year, representing a decline of approximately 1.7%[30] Assets and Liabilities - Total assets increased by 33.65% to CNY 538,383,341.94 compared to the end of the previous year[6] - The total liabilities decreased from RMB 152,155,007.79 to RMB 126,042,299.49, indicating improved financial stability[20] - Cash and cash equivalents increased by 281.54% year-on-year, reaching RMB 81,099,736.81 due to the funds raised from the initial public offering[12] - Notes receivable rose by 105.39% year-on-year, totaling RMB 15,878,431.00, attributed to the new payment method for automotive product customers[12] - Other current assets surged by 8303.13% year-on-year, amounting to RMB 60,061,082.94, as the company invested idle funds in short-term financial products[12] - Total assets as of September 30, 2017, amounted to ¥532,221,252.46, an increase from ¥401,961,910.85 at the beginning of the year[25] - Total liabilities decreased to ¥115,658,709.42 from ¥146,034,943.74 at the beginning of the year, a reduction of 20.8%[25] - Shareholders' equity increased to ¥416,562,543.04 from ¥255,926,967.11, representing a growth of 62.6%[25] Cash Flow - Net cash flow from operating activities decreased by 85.27% to CNY 3,409,033.05 compared to the same period last year[6] - Cash flow from operating activities for the first nine months of 2017 was CNY 248,748,475.74, an increase from CNY 208,904,336.64 in the same period last year, showing a growth of about 19.1%[32] - Operating cash inflow for Q3 2017 totaled CNY 256,819,425.41, an increase from CNY 215,101,318.08 in Q3 2016, reflecting a growth of approximately 19.4%[33] - Total cash outflow from operating activities for the first nine months was CNY 223,440,207.23, up from CNY 174,889,997.64 in the previous year, indicating increased operational costs[36] - The net cash flow from operating activities for the first nine months was CNY 804,317.75, a decline from CNY 13,589,263.52 in the same period last year, reflecting tighter cash flow management[36] - Financing cash flow net increased by 1556.17% year-on-year, reaching RMB 133,300,724.24, driven by funds raised from the initial public offering[17] - Cash inflow from financing activities for the first nine months was CNY 239,290,670.00, significantly higher than CNY 38,680,000.00 in the previous year, indicating strong investor confidence[37] Shareholder Information - The total number of shareholders reached 8,799 at the end of the reporting period[10] - The largest shareholder, Si Rongzhu, holds 23.59% of the shares[10] Management and Strategy - The company plans to focus on expanding its market presence and enhancing product development in the upcoming quarters[30] - The company's management expenses increased to CNY 34,040,543.56 for the first nine months of 2017, up from CNY 32,678,039.74 in the previous year, reflecting a rise of about 4.1%[29]

Financial Performance - The company's operating revenue for the first half of 2017 was ¥142,128,127.74, representing a 16.14% increase compared to ¥122,371,901.10 in the same period last year[19]. - The net profit attributable to shareholders for the first half of 2017 was ¥16,839,032.42, up 12.45% from ¥14,974,826.01 in the previous year[19]. - The net cash flow from operating activities decreased by 6.67% to ¥11,398,001.36, down from ¥12,212,920.26 in the same period last year[19]. - The total assets at the end of the reporting period were ¥555,120,152.91, a 37.81% increase from ¥402,815,941.83 at the end of the previous year[19]. - The net assets attributable to shareholders increased by 63.91% to ¥406,195,912.92 from ¥247,823,687.98 at the end of the previous year[19]. - Basic earnings per share for the first half of 2017 were ¥0.25, an increase of 8.70% compared to ¥0.23 in the same period last year[20]. - The weighted average return on net assets decreased to 5.15%, down 1.53 percentage points from 6.68% in the previous year[20]. - Operating costs rose by 28.36% to ¥92,997,804.60, leading to a decrease in overall gross margin due to lower margins on wiring harness products[51]. - The company reported a gross profit margin of approximately 13.0% for the first half of 2017, compared to 11.5% in the previous year[110]. Cash Flow and Financing - The company successfully raised funds through an IPO in June, resulting in a net cash flow from financing activities of ¥148,035,177.34, compared to a negative cash flow of ¥1,616,942.86 in the previous year[51]. - The cash and cash equivalents increased significantly by 711.10% to ¥172,861,408.75 due to the inflow of raised funds[54]. - The net cash flow from financing activities was CNY 148,035,177.34, a significant improvement from a negative CNY 1,616,942.86 in the previous year[116]. - The company reported a significant increase in cash inflow from operating activities, totaling CNY 188,431,788.61, compared to CNY 142,376,869.39 in the same period last year, representing a growth of 32.4%[115]. - The company's cash outflow from operating activities was CNY 177,033,787.25, an increase of 36.1% from CNY 130,163,949.13 in the previous year[115]. Operational Strategy - The company is focused on strengthening management to enhance profit growth in response to increased operating revenue[20]. - The main business involves the research, production, and sales of automotive washing systems, precision injection parts, and electronic sensors, with production bases in Jiangsu, Guangdong, and Jilin[25]. - The company adopts a market-driven R&D model, synchronously developing components with automotive manufacturers, which reduces R&D risks and shortens production cycles[27]. - The procurement strategy involves working with 1-2 main suppliers for raw materials like copper wire and rubber hoses, ensuring quality and cost-effectiveness[28]. - The production process follows a lean manufacturing model (TPS) and adheres to the ISO/TS 16949 quality system, ensuring high production efficiency[29]. - The sales model is primarily direct sales to automotive and motorcycle manufacturers, with a focus on domestic markets[31]. - The company has established long-term stable cooperation with clients after passing the client certification process, typically negotiating annual contracts and signing framework agreements based on purchase orders and delivery plans[36]. Shareholder and Governance - The company did not distribute profits or increase capital from reserves during the reporting period[5]. - The company’s actual controller and major shareholders have committed to not transferring or managing their shares for 36 months post-IPO[66]. - If the stock price falls below the IPO price for 20 consecutive trading days within 6 months post-IPO, the lock-up period for shares will be extended by an additional 6 months[66]. - The company has no plans for profit distribution or capital reserve increase in the first half of 2017, indicating a focus on reinvestment[64]. - The company aims to maintain stable control and strategic decision-making without significant share reductions for two years after the lock-up period[67]. - There were no significant changes in shareholder structure or commitments during the reporting period[65]. Compliance and Regulatory Matters - The company emphasizes compliance with regulatory requirements for correcting any violations within specified timeframes[69]. - The company has established a framework for handling illegal gains in accordance with relevant laws and regulations[69]. - The company has committed to avoiding competition with its subsidiaries and will notify the issuer of any business opportunities that may lead to competition[75]. - The company has implemented measures to ensure that its controlled entities do not engage in competing businesses[75]. - The company appointed Tianjian Accounting Firm as the auditor for the 2017 fiscal year, continuing from the previous year[77]. - There were no significant lawsuits or arbitration matters during the reporting period[78]. Accounting Policies and Financial Reporting - The company reported a change in accounting policy regarding government subsidies, adjusting the presentation of related income without significant impact on financial results[80]. - The adjustment for government subsidies resulted in an increase of CNY 324,000 in "Other Income" and a corresponding decrease in "Non-operating Income" for the first half of 2017[81]. - The company has not reported any major accounting errors that require restatement during the reporting period[82]. - The company has implemented changes in accounting policies in accordance with the latest financial regulations[136]. - The company recognizes employee benefits obligations using the expected accumulated benefit unit method, estimating demographic and financial variables to measure the obligations and determine their present value[186]. Market Position and Product Development - The company is a major supplier of automotive washing systems to FAW-Volkswagen and SAIC Volkswagen, and is actively collaborating with other major automakers like SAIC-GM and Chongqing Changan[41]. - The company has built a technology R&D center for automotive washing systems in Jiangsu Province and has established R&D institutions in Changzhou and Shanghai, enhancing its competitive position in the market[41]. - The company is focusing on expanding its market presence and investing in new product development to drive future growth[110]. - The company has developed capabilities in synchronous development of automotive electronic products, including rain sensors and sun sensors, which have been successfully supplied in bulk[45]. - The company has accumulated rich experience in automotive parts design and development, achieving a leading market position in the automotive washing system sector[44]. Share Structure and Capital Changes - The total number of shares before the change was 66,057,000, which represents 100% of the shares, and after the change, it decreased to 75% with the introduction of new shares[85]. - The company issued 22,019,000 new shares, which represents 25% of the total shares after the change[86]. - The largest shareholder, 是蓉珠, holds 20,775,000 shares, accounting for 23.59% of the total shares[90]. - The second-largest shareholder, 陆鹏, holds 17,500,000 shares, representing 19.87% of the total shares[90]. - The total number of shareholders at the end of the reporting period was 24,316[87].