2019 年半年度报告 公司代码：603348 公司简称：文灿股份 广东文灿压铸股份有限公司 2019 年半年度报告 二〇一九年八月 1 / 158 2019 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、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。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人唐杰雄、主管会计工作负责人吴淑怡及会计机构负责人（会计主管人员）吴淑怡 声明：保证半年度报告中财务报告的真实、准确、完整。 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告中涉及的未来计划、发展战略等前瞻性描述不构成公司对投资者的实质承诺，敬请投 资者注意投资风险。 | --- | --- | |-------|------------------------------------------------------------------| | | | | | 七、 是否存在被控股股东及其关联方非经营性占用资金情况 | ...

Financial Performance - Net profit attributable to shareholders decreased by 17.39% to CNY 34,498,638.71 year-on-year[11] - Operating income rose by 10.48% to CNY 385,475,392.48 compared to the same period last year[11] - Basic earnings per share decreased by 38.05% to CNY 0.1568[11] - The weighted average return on equity decreased by 1.96 percentage points to 1.68%[11] - Non-recurring gains and losses attributable to shareholders decreased by 27.74% to CNY 28,880,317.43[11] - Total operating revenue for Q1 2019 was RMB 385,475,392.48, an increase of 10.5% compared to RMB 348,900,855.88 in Q1 2018[41] - Net profit for Q1 2019 decreased to RMB 34,498,638.71, down 17.4% from RMB 41,762,840.97 in Q1 2018[43] - The total profit for Q1 2019 was RMB 40,259,513.87, down 16.0% from RMB 48,173,334.86 in Q1 2018[43] - Total comprehensive income amounted to CNY 11,192,104.91, compared to CNY 12,514,525.61 in the previous year[49] Cash Flow - Net cash flow from operating activities increased significantly by 94.33% to CNY 99,746,190.63[11] - The net cash flow from operating activities increased to CNY 99,746,190.63, up from CNY 51,327,646.06 in the same quarter last year[53] - Cash inflow from operating activities was CNY 385,488,090.79, a decrease from CNY 393,115,756.77 year-over-year[53] - Cash outflow from operating activities totaled CNY 285,741,900.16, down from CNY 341,788,110.71 year-over-year[53] - Cash flow from investing activities showed a net outflow of CNY 74,723,513.81, slightly improved from CNY 78,032,320.04 in the previous year[53] - Cash inflow from financing activities was CNY 45,000,000.00, significantly lower than CNY 129,498,241.00 in the same quarter last year[55] - Net cash flow from financing activities improved to CNY 16,996,743.47, compared to a net outflow of CNY 13,796,657.17 in the previous year[55] - The ending balance of cash and cash equivalents increased to CNY 312,569,657.29 from CNY 121,921,473.73 year-over-year[55] Assets and Liabilities - Total assets increased by 2.08% to CNY 2,940,872,595.47 compared to the end of the previous year[11] - The company's total assets increased to ¥2,940,872,595.47 from ¥2,881,043,191.91, reflecting a growth in both current and non-current assets[29] - Total liabilities increased to ¥866,282,467.31 from ¥840,917,092.37, representing a growth of approximately 5.2%[31] - Total current assets amounted to ¥669,767,628.16, up from ¥660,555,548.91, indicating a growth of approximately 1.8%[35] - Total equity rose to ¥2,074,590,128.16 compared to ¥2,040,126,099.54, marking an increase of about 1.7%[31] - The company's total liabilities increased, with current liabilities totaling ¥545,999,537.37, up from ¥495,566,521.69, indicating a rise in short-term financial obligations[29] Shareholder Information - The total number of shareholders at the end of the reporting period was 25,021[18] - Major shareholders include Tang Jiexiong, Tang Jiebang, Tang Jiewei, and Tang Jiecao, each holding 30,000,000 shares, representing 13.64% of the total shares[18] Expenses - The company's management expenses rose by 34.92%, totaling ¥15,698,865.38, primarily due to increased costs during the trial production phase[21] - Research and development expenses for Q1 2019 were RMB 17,377,986.22, an increase of 6.9% from RMB 16,254,892.18 in Q1 2018[41] - The company incurred financial expenses of RMB 7,943,551.17 in Q1 2019, an increase of 51.8% from RMB 5,231,023.15 in Q1 2018[41] Government Subsidies - The company received government subsidies amounting to CNY 6,956,771.49 related to its normal operations[13] - Other income increased significantly by 339.79%, amounting to ¥1,581,871.54, mainly due to government subsidies received during the period[21]

Financial Performance - The company achieved a net profit attributable to shareholders of the parent company of RMB 125,236,581.25 in 2018, with a net profit of RMB 48,836,085.55 for the parent company after a 10% statutory surplus reserve allocation[7]. - The company's operating revenue for 2018 was CNY 1,620,162,776.97, representing a 4.05% increase compared to CNY 1,557,095,407.19 in 2017[29]. - The net profit attributable to shareholders for 2018 was CNY 125,236,581.25, a decrease of 19.36% from CNY 155,303,717.24 in 2017[29]. - The net cash flow from operating activities for 2018 was CNY 182,768,228.30, down 19.68% from CNY 227,561,959.27 in 2017[29]. - The company's total profit available for distribution to shareholders after the statutory surplus reserve allocation is RMB 43,952,476.99[7]. - The basic earnings per share for 2018 was CNY 0.62, a decline of 34.04% from CNY 0.94 in 2017[30]. - The weighted average return on equity for 2018 was 7.30%, a decrease of 7.36 percentage points from 14.66% in 2017[30]. - The company reported a decrease in non-operating income, which contributed to the decline in profit levels[31]. - The company achieved operating revenue of RMB 162,016.28 million in 2018, representing a year-on-year growth of 4.05%[74]. - Operating profit decreased by 21.42% to CNY 14,132.69 million compared to the same period last year[82]. - Net profit fell by 19.36% to CNY 12,523.66 million year-on-year[82]. Profit Distribution - The proposed profit distribution plan includes a cash dividend of RMB 3.00 per 10 shares (tax included), with no capital increase or bonus shares issued, resulting in a total undistributed profit of RMB 161,250,005.09 by the end of 2018[7]. - The company has a cumulative undistributed profit of RMB 161,250,005.09 as of the end of 2018, which will be carried forward to the next fiscal year[7]. - The company’s profit distribution proposal requires approval at the 2018 annual general meeting of shareholders[7]. - The company plans to distribute at least 30% of the average distributable profit over the next three years (2018-2020) as cash dividends, prioritizing cash distribution when conditions allow[148]. - The company will ensure that cash dividends do not exceed the cumulative distributable profit and will distribute at least 15% of the distributable profit in cash if there are no major investment plans[148]. - In 2018, the company distributed a cash dividend of 3.00 RMB per 10 shares, amounting to a total of 66,000,000 RMB, which represents 52.70% of the net profit attributable to ordinary shareholders[154]. - The company did not propose a cash profit distribution plan for the reporting period despite having positive distributable profits, and it is required to disclose the reasons and intended use of undistributed profits[155]. Corporate Governance - The board of directors and senior management have confirmed the accuracy and completeness of the financial report[4]. - The company has confirmed that there are no non-operating fund occupations by controlling shareholders or related parties[8]. - The company has not violated any decision-making procedures in providing guarantees to external parties[8]. - The company’s board must formulate a clear repurchase plan that includes types, quantity range, price range, and implementation period[165]. - Independent directors are responsible for ensuring that minority shareholders have the opportunity to express their opinions and that their rights are protected[151]. - The company has a commitment to not transfer or manage shares held by major shareholders for a period of 36 months post-IPO[157]. - The company will publicly apologize and disclose specific reasons for any unfulfilled commitments during shareholder meetings[194]. - The company will ensure that any cash dividends are used to fulfill unfulfilled commitments or compensate for losses incurred[194]. Market Position and Strategy - The company primarily engages in the research, production, and sales of precision aluminum alloy die-casting parts for mid-to-high-end automotive applications[42]. - Major clients include global tier-one automotive suppliers such as ZF TRW, WABCO, and Bosch, as well as automakers like Tesla and General Motors[42]. - The company adopts a make-to-order production model, ensuring that production aligns with customer demand and specifications[44]. - The company is focused on expanding its market presence by continuously acquiring new projects and maintaining stable relationships with existing clients[49]. - The company has established stable partnerships with major automotive manufacturers, including Tesla, General Motors, and Volkswagen, enhancing its brand recognition in the aluminum alloy die-casting sector[56]. - The company plans to enhance its technical innovation capabilities and management efficiency through investments in a new R&D center and information technology projects[81]. - The company aims to enhance its R&D and innovation capabilities, focusing on opportunities in automotive lightweighting and new energy vehicles over the next three to five years[127]. Research and Development - R&D expenses for 2018 amounted to RMB 71,607.6 million, an increase of RMB 6,604.6 million compared to the previous year[79]. - The company has established several technology centers and research bases, focusing on new material development and precision die-casting technology[61]. - The company has developed high-performance aluminum alloy materials and received multiple provincial-level "High-tech Product Certification" awards[63]. - The company has begun mass production of aluminum alloy body structure components for Tesla and is also supplying components for Mercedes-Benz[60]. - The company will increase R&D investment in aluminum alloy lightweight technology and strengthen cooperation with universities and research institutions to enhance technical innovation capabilities[130]. Risks and Challenges - The company faces risks from high customer concentration, as major clients are large automotive manufacturers, which could adversely affect operations if any major client is lost[136]. - The company is exposed to fluctuations in aluminum prices, which could impact profitability if prices change significantly and product pricing adjustments are delayed[135]. - The company must meet specific conditions to issue cash dividends, including positive distributable profits and sufficient cash flow from operating activities[148]. - The company is at risk of being unable to keep pace with technological advancements in the automotive sector, particularly in new materials and technologies, which could adversely affect its operations[142]. - The company faces risks related to changes in tax incentives and the potential loss of high-tech enterprise status, which could negatively impact its operating performance[140]. Investment and Expansion - The company raised a total of RMB 839.30 million through the public issuance of 55 million shares at a price of RMB 15.26 per share, with a net amount of RMB 788.93 million after expenses[54]. - The company invested 2 billion RMB in Tianjin Xiongbang for the "Key Parts of Automatic Transmission" project, increasing its registered capital to 400 million RMB[112]. - The company also invested 100 million RMB in Jiangsu Wencan, raising its registered capital to 200 million RMB[112]. - The company plans to establish or acquire overseas production and service bases to reduce transportation costs and enhance service efficiency for global automotive clients[130]. Compliance and Commitments - The company committed to ensuring that the fundraising prospectus and summary do not contain false records, misleading statements, or significant omissions, and assumes individual and joint legal responsibility for their authenticity, accuracy, and completeness[198]. - All directors of the company pledged that the application documents for the public issuance of convertible bonds do not contain false records, misleading statements, or significant omissions, and assume individual and joint legal responsibility for their authenticity, accuracy, and completeness[198]. - The company will take measures to compensate for any losses caused to investors due to unfulfilled commitments, including timely disclosure of reasons for non-fulfillment[194].

Financial Performance - Operating revenue for the first nine months reached CNY 1,193,684,862.81, a 12.03% increase year-on-year[7] - Net profit attributable to shareholders increased by 10.20% to CNY 105,087,461.03 compared to the same period last year[7] - Total operating revenue for Q3 2018 reached ¥428,166,012.95, a 24.85% increase from ¥342,887,774.77 in Q3 2017[27] - Year-to-date operating revenue for 2018 was ¥1,193,684,862.81, up 12.00% from ¥1,065,463,665.80 in the same period last year[27] - Net profit for Q3 2018 was ¥45,005,563.81, a 80.14% increase from ¥24,992,418.92 in Q3 2017[29] - Year-to-date net profit for 2018 was ¥105,087,461.03, an increase of 10.00% from ¥95,357,921.61 in the same period last year[29] - The total comprehensive income for Q3 2018 was ¥45,107,494.18, compared to ¥24,939,298.98 in Q3 2017, reflecting a strong growth[30] Assets and Liabilities - Total assets increased by 24.98% to CNY 2,921,337,632.87 compared to the end of the previous year[7] - Total current assets increased to CNY 1,077,240,199.98 from CNY 805,129,523.72, representing a growth of approximately 33.7%[19] - Total non-current assets rose to CNY 1,844,097,432.89 from CNY 1,532,317,565.59, indicating an increase of approximately 20.4%[20] - Total liabilities decreased to CNY 901,349,795.19 from CNY 1,211,592,549.40, reflecting a decline of about 25.6%[21] - Total current liabilities decreased to CNY 536,053,433.82 from CNY 788,341,830.91, a reduction of approximately 31.9%[20] - Shareholders' equity increased to CNY 2,019,987,837.68 from CNY 1,125,854,539.91, representing a growth of approximately 79.8%[21] Cash Flow - Cash flow from operating activities decreased by 58.85% to CNY 71,555,645.06 compared to the same period last year[7] - The net cash flow from operating activities decreased by 58.85% to ¥71,555,645.06, mainly due to increased cash payments for goods and services[15] - Cash flow from operating activities for the first nine months of 2018 was CNY 71,555,645.06, down from CNY 173,871,030.34 in the previous year, a decrease of approximately 58.8%[35] - Financing activities generated a net cash inflow of CNY 483,404,732.63 in the first nine months of 2018, compared to CNY 151,514,638.44 in the previous year, indicating an increase of approximately 218.5%[36] - The ending cash and cash equivalents balance was $65.90 million, up from $18.40 million at the end of the same period last year[39] Shareholder Information - The total number of shareholders at the end of the reporting period was 30,797[12] - The top five shareholders each hold 30,000,000 shares, representing 13.64% of the total shares[12] Expenses - The company's management expenses rose by 45.06% to ¥58,448,658.91, attributed to higher salaries and fixed asset depreciation[15] - Financial expenses surged by 162.28% to ¥32,695,615.15, largely due to foreign exchange fluctuations[15] - Research and development expenses for Q3 2018 totaled ¥17,903,736.72, a 6.52% increase from ¥16,806,657.45 in Q3 2017[28] - Management expenses for Q3 2018 were ¥21,467,892.89, a significant increase of 53.12% compared to ¥14,013,533.23 in Q3 2017[28] - Sales expenses for the first nine months of 2018 totaled CNY 16,625,616.30, down from CNY 20,698,804.35 in the same period of 2017, a decrease of approximately 19.5%[32] Investment Activities - Investment activities resulted in a net cash outflow of CNY 365,760,578.76 for the first nine months of 2018, compared to a net outflow of CNY 248,313,046.84 in the same period of 2017[35] - Cash outflow from investment activities reached $909.26 million, significantly higher than $44.89 million in the previous year[39] - Net cash flow from investment activities was -$708.97 million, compared to -$42.52 million in the same period last year[39]

Financial Performance - The company reported a significant increase in revenue for the first half of 2018, achieving a total of RMB 500 million, representing a year-on-year growth of 25%[11]. - The net profit attributable to shareholders for the same period was RMB 80 million, reflecting a 15% increase compared to the previous year[11]. - The company achieved a revenue of 765.52 million yuan in the first half of 2018, representing a year-on-year growth of 5.94%[49]. - The net profit attributable to the parent company was 60.08 million yuan, a decrease of 14.61% compared to the previous year[49]. - Basic earnings per share decreased by 23.26% to CNY 0.33 compared to CNY 0.43 in the same period last year[18]. - Total operating revenue for the first half of 2018 was CNY 765,518,849.86, an increase of 5.5% compared to CNY 722,575,891.03 in the same period last year[123]. - Operating profit for the first half of 2018 was CNY 68,091,005.44, down 16.8% from CNY 81,779,634.76 in the same period last year[124]. - The company reported a total comprehensive income of CNY 60,097,110.23, compared to CNY 70,300,551.83 in the previous year[124]. Market Expansion and Strategy - User data indicated a growth in customer base, with a 30% increase in new clients acquired during the first half of 2018[11]. - The company plans to expand its market presence by entering two new provinces in China by the end of 2018, aiming for a 20% increase in market share[11]. - The company is exploring potential mergers and acquisitions to enhance its production capabilities and market reach, with a focus on strategic partnerships[11]. - The company has established stable partnerships with major automotive manufacturers and suppliers, including Tesla, General Motors, and Bosch, enhancing its brand recognition in the aluminum die-casting sector[36]. - The company has expanded its customer base by adding new clients such as BYD and Xiaopeng Motors in the first half of 2018[51]. Financial Position and Assets - Total assets increased by 28.13% to RMB 2,995.04 million, while equity attributable to shareholders rose by 75.41% to RMB 1,974.88 million[34]. - The company raised a total of RMB 839.3 million by issuing 55 million shares at a price of RMB 15.26 per share, with a net amount of RMB 788.93 million after expenses[32]. - The company reported a significant increase in capital reserves to CNY 1,209,838,180.90 from CNY 475,909,487.54, representing a growth of about 153.5%[118]. - The total equity attributable to the parent company at the end of the reporting period is CNY 1,041,006,632.69, an increase from CNY 1,003,706,080.86 at the end of the previous period, reflecting a growth of approximately 3.7%[138]. Research and Development - Research and development expenses increased by 10% to RMB 50 million, focusing on new product innovations in die casting technology[11]. - The company has established several technology centers and has developed new materials and technologies, including high-performance aluminum alloys and advanced casting techniques[40]. - The company has developed new aluminum alloy materials that can replace traditional cast steel products, achieving mass production for major gearbox manufacturers[37]. Risks and Challenges - The company has identified potential risks in the market, including fluctuations in raw material prices, which may impact future profitability[5]. - The fluctuation of aluminum prices poses a risk to the company's operating performance, as it is the main raw material used in production[69]. - The automotive industry’s cyclical fluctuations and policy changes present ongoing risks to the company’s operational stability[68]. - The company faces risks from high customer concentration, primarily relying on large domestic and international automotive manufacturers[71]. Corporate Governance and Compliance - The board of directors confirmed that the financial report is accurate and complete, with no significant omissions[6]. - The company has not faced significant product recalls due to quality issues, but future major quality problems could lead to compensation risks[72]. - The company has committed to not engaging in any business activities that compete with its main operations[85]. - The company guarantees compensation to investors for losses incurred due to false records or misleading statements in the IPO prospectus, following recognition by the relevant authorities[87]. Environmental and Social Responsibility - The company has implemented ISO 14001 environmental management system certification and conducts regular audits to ensure compliance[99]. - The company has established wastewater treatment systems and air pollution control measures to minimize environmental impact[99]. Shareholder Information - The actual controllers of the company hold a combined 68.18% of shares, which could lead to risks if internal controls and governance structures are inadequate[77]. - The company will notify creditors and relevant authorities after the share repurchase plan is approved by the shareholders' meeting[83]. - The total number of ordinary shareholders reached 38,591 by the end of the reporting period[105].

Financial Performance - Revenue for the period was CNY 348,900,855.88, reflecting a 13.34% increase year-on-year[7] - Net profit attributable to shareholders increased by 23.31% to CNY 41,762,840.97 compared to the same period last year[7] - Net profit attributable to shareholders after deducting non-recurring gains and losses rose by 20.20% to CNY 39,969,468.32[7] - Basic earnings per share increased by 23.28% to CNY 0.2531[7] - Diluted earnings per share also increased by 23.28% to CNY 0.2531[7] - The company reported a net profit of CNY 128,560,601.15 for Q1 2018, up from CNY 117,297,528.10 in the previous year, reflecting a growth of 9.66%[24] - The net profit for Q1 2018 reached CNY 12,514,525.61, representing a 32.3% increase from CNY 9,418,673.01 in Q1 2017[29] - The total comprehensive income for Q1 2018 was CNY 12,514,525.61, compared to CNY 9,418,673.01 in Q1 2017, indicating a significant growth[29] Assets and Liabilities - Total assets increased by 3.39% to CNY 2,416,594,503.94 compared to the end of the previous year[7] - The total assets increased from CNY 2,337,447,089.31 to CNY 2,416,594,503.94, representing a growth of 3.37%[19] - The company's total assets as of March 31, 2018, were CNY 1,176,925,587.56, compared to CNY 1,092,714,349.29 at the beginning of the year, reflecting a growth of 7.69%[23] - The total liabilities increased from CNY 1,000,000,000 to CNY 1,200,000,000, indicating a rise in financial obligations[19] - Total liabilities increased to CNY 388,658,707.01 in Q1 2018 from CNY 316,961,994.35 at the start of the year, marking a rise of 22.56%[23] Cash Flow - Operating cash flow net amount increased by 15.58% to CNY 51,327,646.06 compared to the same period last year[7] - The company's cash flow from operating activities decreased by 43.52% from CNY 7,601,473.80 to CNY 4,292,966.85 due to a reduction in export tax refunds[14] - Cash inflows from operating activities amounted to CNY 393,115,756.77, an increase from CNY 314,951,172.56 in the same quarter last year[29] - The cash inflow from sales of goods and services was ¥121,793,908.65, up from ¥109,715,007.52, showing a growth of 11.8%[32] - The total cash outflow for operating activities was ¥196,692,709.05, compared to ¥117,035,076.75 in the previous period, reflecting a significant increase[32] Inventory and Receivables - The company's accounts receivable increased by 561.49% from CNY 5,369,158.01 to CNY 35,516,346.71 due to a reduction in endorsed or discounted bills not yet due[13] - Prepayments rose by 107.16% from CNY 5,757,918.87 to CNY 11,928,085.09 primarily due to an increase in advance payments for materials[13] - Other receivables decreased by 53.68% from CNY 17,414,786.31 to CNY 8,066,483.85 mainly due to the recovery of deposits[13] - The company's inventory increased by 29.25% from CNY 162,449,340.91 to CNY 210,092,816.65, reflecting business expansion[19] - Inventory increased to CNY 66,101,126.37 from CNY 52,486,743.82, showing a growth of 25.91%[22] Government Subsidies and Non-Recurring Items - Government subsidies recognized in the current period amounted to CNY 1,581,871.54[9] - Non-recurring gains and losses totaled CNY 1,793,372.65 for the period[9] - The company’s other income increased by 80.04% from CNY 878,599.99 to CNY 1,581,871.54, mainly due to an increase in government subsidies received[14] Financial Management - The company's financial expenses for Q1 2018 were CNY 883,514.03, compared to a negative CNY 138,467.99 in the previous year, indicating a shift in financial costs[28] - The company's tax expenses for Q1 2018 were CNY 2,276,266.81, an increase from CNY 1,698,325.35 in Q1 2017[28] - The company reported a decrease in sales expenses to CNY 4,817,653.59 from CNY 6,961,394.41 in the previous year, indicating improved cost management[28]