证券代码：603348 证券简称：文灿股份 公告编号：2022-055 转债简称：文灿转债 转债代码：113537 文灿集团股份有限公司 关于接待机构调研的公告 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。 文灿集团股份有限公司（以下简称"公司"）近期通过现场会议交流形式接 待了机构调研，现将情况公告如下： 一、调研情况 调研方式：现场会议交流 调研机构名称（排名不分先后）：华西证券、富国基金、银河基金、中金基 金、泰康资产、银华基金、中邮创业基金、东方基金、建信基金、汇添富、华泰 资管、平安资管、鹏华基金、长盛基金、嘉实基金、中金资管、国信证券自营、 中信证券自营、淡水泉投资、正心谷资本、拾贝投资、中兵财富、招商信诺、清 和泉资本、北京宏道投资、华安财保资管、3W Fund、华泰柏瑞、大家资产、平 安基金、和谐汇一资管、煜德投资、正圆基金、九泰基金、易方达资产、华安基 金、华高资管、敦和资管、汐泰投资、合众资产 公司接待人员：董事长/总经理唐杰雄先生、董事会秘书刘世博先生、公司 子公司法国百炼集团（简称"百炼集团"或 ...

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2022, representing a year-on-year increase of 15%[16]. - The net profit attributable to shareholders for the same period was RMB 200 million, up 10% compared to the previous year[16]. - The company's operating revenue for the first half of 2022 was CNY 2,441,969,608.56, representing a 20.15% increase compared to CNY 2,032,504,653.09 in the same period last year[22]. - Net profit attributable to shareholders was CNY 136,180,390.06, an 85.82% increase from CNY 73,287,343.07 year-on-year[22]. - The basic earnings per share increased to CNY 0.53, up 82.76% from CNY 0.29 in the previous year[22]. - The company reported a net cash flow from operating activities of CNY 247,299,421.03, a 9.21% increase from CNY 226,448,291.75 in the same period last year[22]. - The company achieved a revenue of CNY 2,441.97 million in the first half of 2022, representing a year-on-year growth of 20.15%[44]. - The net profit for the same period was CNY 136.18 million, an increase of 85.82% year-on-year; excluding the impact of the acquisition of France Baolian Group, the net profit grew by 185.26%[44]. - The company reported a significant increase in investment income, with ¥500 million in the first half of 2022, compared to ¥50 million in the same period of 2021, reflecting a 900% increase[151]. - The company's total comprehensive income attributable to the parent company's owners for the first half of 2022 was approximately ¥121.84 million, compared to ¥58.63 million in the previous year, representing a growth of 107%[149]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 20% market share by the end of 2023[16]. - The company is exploring potential mergers and acquisitions to enhance its supply chain efficiency, with a focus on companies in the automotive parts sector[16]. - The company plans to invest in a new production base in Liu'an, Anhui Province, to better serve customers and strengthen its market position in integrated die-casting products[47]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share within the next two years[96]. - A strategic acquisition was announced, which is expected to enhance the company's product offerings and increase market competitiveness[96]. Research and Development - The company has allocated RMB 50 million for research and development in new technologies for the upcoming fiscal year[16]. - Research and development investments have increased by 30%, focusing on cutting-edge technologies to drive future growth[96]. - The company has established multiple technology centers and has developed new materials and processes, contributing to its ongoing technological leadership[42]. - The company signed a strategic cooperation framework agreement with Lichuan Sijun Lightweight Alloy Group to develop heat treatment-free materials for large integrated aluminum castings, enhancing its core technology supply chain[48]. Risks and Challenges - The management highlighted significant risks including fluctuations in raw material prices, which could impact profit margins by up to 5%[16]. - The company faces risks from fluctuations in the automotive industry due to macroeconomic factors, which could adversely affect production and profitability[64]. - Raw material price volatility, particularly in aluminum, poses a risk to the company's pricing strategy and overall performance[65]. - Increased competition in the automotive aluminum die-casting sector may lead to a decline in market share if the company fails to enhance product competitiveness[66]. - The company is exposed to foreign exchange risks due to a high proportion of sales in foreign currencies, which could impact profit levels[67]. Corporate Governance and Compliance - The company has fulfilled all commitments made by actual controllers, shareholders, and related parties during the reporting period[94]. - All commitments related to major asset restructuring have been strictly adhered to by the controlling shareholders and actual controllers[94]. - The company has maintained compliance with the lock-up period commitments for shareholders holding over 5% of shares, with a duration of 2 years post-lock-up[94]. - There are no reported failures in fulfilling any commitments, indicating a strong adherence to corporate governance[94]. - The company has committed to not providing financial assistance for stock options or restricted stock plans, ensuring responsible governance[108]. Environmental and Social Responsibility - The company has established a third-party certified environmental management system and received the "China Green Foundry Enterprise" certificate in 2020[89]. - The company actively promotes carbon reduction measures, including upgrading to energy-efficient equipment and using clean energy[90]. - The company donated a total of 350,000 yuan to charity for poverty alleviation efforts in 2022[91]. Financial Position and Assets - The company's total assets increased by 7.65% to CNY 6,385,888,207.13 compared to CNY 5,932,124,893.32 at the end of the previous year[22]. - The company’s overseas assets amounted to CNY 2,731,339,905.66, accounting for 42.79% of total assets[58]. - The company reported a total of 33,616,849 shares converted from convertible bonds, accounting for 15.28% of the total shares before conversion[134]. - The company’s cash and cash equivalents decreased to approximately 507.18 million RMB from 588.65 million RMB[141]. - The company’s long-term credit rating is AA- with a stable outlook, indicating solid financial health[138]. Shareholder Information - The number of ordinary shareholders as of the end of the reporting period is 15,911[118]. - The top three shareholders each hold 30,000,000 shares, representing 11.44% of the total shares[120]. - The company repurchased and canceled 24,000 restricted shares due to the departure of an incentive plan participant[116]. - The actual controllers of the company are Tang Jiexiong and Tang Jiebang, holding a combined 34.33% of the shares directly and indirectly[124]. Financial Reporting and Accounting - The financial statements are prepared based on the going concern principle[184]. - The company adheres to the requirements of enterprise accounting standards, ensuring the financial statements reflect true and complete information[186]. - The company applies expected credit loss model for impairment of financial assets, ensuring a robust assessment of credit risk[200]. - The company utilizes derivative financial instruments such as foreign exchange forward contracts and interest rate swaps to hedge against currency and interest rate risks[200].

证券简称：文灿股份 转债简称：文灿转债 证券代码：603348 公告编号：2022-040 转债代码：113537 文灿集团股份有限公司 关于接待机构调研的公告 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。 文灿集团股份有限公司（以下简称"公司"）于 2022 年 7 月 15 日通过现场 会议交流形式接待了机构调研，现将情况公告如下： 一、调研情况 时间：2022 年 7 月 15 日 调研方式：现场会议交流 调研机构名称（排名不分先后）：华西证券、华夏基金、申万菱信、国联安 基金、东证资管、合远投资、丹羿投资、德邦基金、浙商基金、海富通基金、胤 胜资产、财通基金、泉海基金、长安基金、易方达基金、前海开源、长城基金、 众安保险、中兵财富、泽源资产、中信证券资管、泉果基金、3W Fund、雷根基 金 公司接待人员：董事长/总经理唐杰雄先生、董事/副总经理易曼丽女士、董 事会秘书刘世博先生 二、交流的主要问题及公司回复概要 （一）公司简要介绍 公司集高压铸造、低压铸造和重力铸造等工艺方式，致力于为全球汽车客户 提供轻量化 ...

Financial Performance - The company's operating revenue for Q1 2022 was ¥1,243,440,479.13, representing an increase of 18.35% compared to the same period last year[6]. - Net profit attributable to shareholders of the listed company reached ¥79,404,262.56, marking a significant increase of 58.32% year-on-year[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥77,244,761.07, also up by 58.20% compared to the previous year[6]. - The basic earnings per share for the period was ¥0.31, reflecting an increase of 58.14% year-on-year[8]. - The diluted earnings per share was ¥0.29, which is an increase of 49.75% compared to the same period last year[8]. - Total revenue for Q1 2022 reached ¥1,243,440,479.13, an increase of 18.3% compared to ¥1,050,665,806.84 in Q1 2021[24]. - Net profit for Q1 2022 was ¥79,404,262.56, representing a 58.2% increase from ¥50,154,358.15 in Q1 2021[28]. - Total comprehensive income for the first quarter of 2022 was CNY 78,234,399.90, compared to CNY 16,377,303.77 in the same period of 2021, representing a significant increase[29]. - Basic earnings per share for Q1 2022 was CNY 0.31, up from CNY 0.19 in Q1 2021, indicating a growth of 63.16%[29]. Cash Flow and Assets - The net cash flow from operating activities showed a significant decline of 99.72%, amounting to ¥479,713.82[8]. - The company's cash and cash equivalents are reported at RMB 453.12 million, down from RMB 588.65 million[20]. - Cash inflow from operating activities totaled CNY 1,120,817,886.35, compared to CNY 903,828,160.29 in Q1 2021, reflecting an increase of 23.96%[31]. - Cash outflow from operating activities was CNY 1,120,338,172.53, up from CNY 735,106,365.27 in the previous year, resulting in a net cash flow from operating activities of CNY 479,713.82[31]. - The ending balance of cash and cash equivalents as of the end of Q1 2022 was CNY 453,118,138.69, down from CNY 573,775,686.96 at the end of Q1 2021[33]. - The company reported a decrease in cash flow from operating activities net amounting to CNY 479,713.82, a significant drop from CNY 168,721,795.02 in the previous year[31]. - The company experienced a foreign exchange loss affecting cash and cash equivalents amounting to CNY -4,556,563.13 in Q1 2022[33]. Assets and Liabilities - Total assets at the end of the reporting period were ¥6,221,197,164.08, an increase of 4.87% from the end of the previous year[8]. - The total current assets as of March 31, 2022, amount to approximately RMB 2.42 billion, an increase from RMB 2.31 billion at the end of 2021[20]. - Accounts receivable increased to RMB 1.16 billion from RMB 1.02 billion year-over-year[20]. - Inventory has risen to RMB 563.79 million, compared to RMB 513.99 million in the previous year[20]. - Fixed assets decreased to RMB 1.95 billion from RMB 2.03 billion[20]. - Total liabilities rose to ¥3,430,758,256.98 in Q1 2022, compared to ¥3,213,913,441.99 in Q1 2021, an increase of 6.8%[24]. - Long-term borrowings decreased to ¥911,861,173.27 in Q1 2022 from ¥990,656,475.78 in Q1 2021, a decline of 7.9%[23]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 12,220[11]. - The largest shareholders, Tang Jiexiong, Tang Jiebang, Tang Jiewei, and Tang Jiecao, each hold 30,000,000 shares, representing 11.44% of the total shares[11]. - Shareholders' equity attributable to the listed company was ¥2,790,438,907.10, up by 2.66% from the previous year[8]. - The company's total equity reached ¥2,790,438,907.10 in Q1 2022, compared to ¥2,718,211,451.33 in Q1 2021, reflecting a growth of 2.6%[24]. Operational Insights - The increase in net profit was primarily driven by the growth in sales of new energy vehicle components and the alleviation of customer chip issues, leading to increased orders and operational profits[9]. - Research and development expenses for Q1 2022 were ¥33,199,597.80, up from ¥31,226,527.92 in Q1 2021, indicating a 6.3% increase[28]. - The company has ongoing construction projects valued at RMB 895.98 million, up from RMB 648.05 million[20]. - The total liabilities and equity structure will be detailed in the upcoming financial reports[16]. - The company plans to disclose further information regarding the inheritance of shares from the late shareholder Tang Jiewei as per legal requirements[15].

Financial Performance - The net profit attributable to shareholders for the year 2021 was CNY 97.1682 million, while the net profit for the parent company was CNY 33.7621 million[5]. - The company's operating revenue for 2021 was CNY 4,111,980,682.33, representing a 58.00% increase compared to CNY 2,602,568,883.02 in 2020[22]. - The net profit attributable to shareholders for 2021 was CNY 97,168,167.29, a 15.95% increase from CNY 83,804,799.20 in 2020[22]. - The net cash flow from operating activities decreased by 46.95% to CNY 415,384,939.67 in 2021, down from CNY 782,935,809.34 in 2020[24]. - The company's total assets at the end of 2021 were CNY 5,932,124,893.32, a 5.92% increase from CNY 5,600,601,266.66 at the end of 2020[22]. - The basic earnings per share for 2021 was CNY 0.38, up 5.56% from CNY 0.36 in 2020[22]. - The net profit after deducting non-recurring gains and losses for 2021 was CNY 86,585,442.19, a slight increase of 2.99% from CNY 84,074,475.67 in 2020[22]. - The company reported a decrease in net assets attributable to shareholders by 5.32% to CNY 2,718,211,451.33 at the end of 2021 compared to CNY 2,580,795,781.84 at the end of 2020[22]. - The gross margin for the aluminum alloy casting segment decreased by 5.36 percentage points to 18.24%[76]. - The total revenue for the year was 404,000.00 million RMB, with the top five customers contributing 196,178.21 million RMB, accounting for 48.49% of total sales[84]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of CNY 1.50 per 10 shares, totaling an amount that will depend on the number of shares registered on the dividend distribution date[5]. - As of December 31, 2021, the accumulated undistributed profits of the parent company amounted to CNY 45.5760 million[5]. - The company has not indicated any plans for capital increase or stock dividends beyond the proposed cash distribution[5]. - The board approved the profit distribution plan for 2021, considering the company's development stage and funding needs, ensuring sustainable growth and reasonable shareholder returns[163]. Strategic Initiatives and Market Position - The company attributed the revenue growth to the inclusion of the French Baolian Group's full-year revenue and an increase in orders for new energy vehicles[24]. - The company plans to continue leveraging its market position and expand its product offerings in the new energy sector[24]. - The company signed a strategic cooperation agreement with Lijin Technology Group to enhance the development of large-scale integrated casting products, including the procurement of 9 large die-casting machines[37]. - The company has established a new casting research institute to enhance overall technical research and mold manufacturing capabilities[38]. - The company secured new projects for large integrated structural components from two leading new energy vehicle clients, enhancing its competitive advantage in the automotive lightweight sector[39]. - The company is focusing on enhancing the net profit margin of France Baolian Group through various integrations, including technology R&D and financial management, which have shown positive results[42]. - The company is committed to quality improvement and efficiency enhancement through standardized production processes and comprehensive cost control measures[43]. Risks and Challenges - The company has identified significant risk factors that may adversely affect its future development strategies and operational goals[8]. - The gross margin of certain high-margin products was affected by global chip shortages and rising raw material costs, leading to a decline in net profit when excluding the impact of acquisitions and stock incentives[34]. - The automotive industry is facing risks from cyclical fluctuations and semiconductor supply shortages, which may impact production and profitability[109]. - The company faces risks from fluctuations in aluminum prices, which are influenced by international and domestic economic conditions, potentially impacting operational performance if prices change rapidly without timely adjustments[110]. - The company relies heavily on a few key suppliers for aluminum alloy, and any disruption in these relationships could adversely affect production operations[113]. Corporate Governance and Management - The company maintains a robust governance structure, ensuring compliance with laws and protecting shareholder rights through effective board and committee operations[123]. - The company emphasizes the importance of good corporate governance as a foundation for development and aims to enhance its governance level to improve competitiveness and return better operating results to investors[127]. - The board of directors and senior management have maintained their shareholdings, with no changes reported for the year, indicating stability in leadership[132]. - The company held three shareholder meetings in 2021, with the first on May 28, the second on July 12, and the third on September 23, ensuring transparency and shareholder engagement[127]. - The company has established a complete corporate governance structure to ensure operational independence[185]. Research and Development - The company has a strong focus on R&D and innovation, particularly in body structure and ultra-large integrated structural components, to meet market demands[59]. - The company has invested in multiple large die-casting machines, including two 9000T machines, to support the development of large integrated structural components[67]. - The company produced 8,004.95 thousand automotive parts, a 42.75% increase in production volume compared to the previous year[80]. - The company has implemented a training plan focusing on talent development and skill enhancement, combining internal and external training programs[161]. Environmental and Social Responsibility - The company has established a third-party certified environmental management system and was awarded the "China Green Foundry Enterprise" certificate in 2020[175]. - The company actively pursues carbon neutrality goals, increasing environmental investments and reducing pollutant emissions[176]. - The company emphasizes social responsibility, ensuring compliance with laws and enhancing product quality and service levels[177]. Future Outlook - By 2025, China's automobile sales are projected to reach 35 million units, with over 20% being new energy vehicles, indicating significant market growth opportunities[59]. - The company plans to enhance R&D capabilities and develop new technology products focusing on automotive lightweighting and new energy vehicles[100]. - The company aims to create greater value for shareholders through innovation and craftsmanship in 2022[101].

Group 1: Company Overview and Recent Performance - Wencan Group expects a year-on-year increase in sales revenue for Q1 2022, despite facing short-term pressure from rising aluminum raw material costs [2] - The total amount of new projects obtained in 2021 is approximately CNY 13 billion, with over 80% related to new energy vehicle projects [2] - The French Bailian Group reported revenue growth in January-February compared to the same period last year, although net profit in February did not meet budget due to increased costs from the Russia-Ukraine conflict [2][8] Group 2: Production and Capacity Expansion - The company is installing a 9000T die-casting machine in the Tianjin factory, expected to be operational by April 2022, with trial production of large integrated body structure components starting in June [3] - The company plans to purchase 2 units of 7000T-8000T die-casting machines and 1 unit of 9000T die-casting machine in 2022, aiming to have a total of 4 units of 6000T-8000T and 3 units of 9000T machines by the end of the year [5] Group 3: Customer Engagement and Market Position - The company is currently in discussions with 5-6 potential clients for large integrated body structure components, with expected mass production starting between 2023 and 2025 [4] - Wencan Group is the first globally to achieve customer mass production project designation and complete trial production in the large integrated body structure component sector, establishing a competitive advantage [4] Group 4: Quality and Raw Material Management - The company has maintained a product quality rate of 90%-95% in body structure components, with confidence in sustaining this rate for large integrated components [6] - The company can pass on raw material price increases to customers based on contractual agreements, with adjustments typically occurring quarterly or semi-annually [7]

[Key Financial Data](index=1&type=section&id=Item%20I.%20Key%20Financial%20Data) This section provides an overview of the company's key financial performance and position for the current period and year-to-date [Key Accounting Data and Financial Indicators](index=1&type=section&id=Key%20Accounting%20Data%20and%20Financial%20Indicators) In Q3 2021, operating revenue increased by 14.88% year-on-year, but net profit attributable to parent company shareholders turned to a loss of RMB 4.46 million, a significant decrease of 111.23% 2021 Q3 and Year-to-Date Key Financial Indicators | Indicator | Current Period (Q3) | YoY Change (%) | Year-to-Date (YTD) | YTD YoY Change (%) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 932,625,189.60 | 14.88 | 2,965,129,842.69 | 103.60 | | Net Profit Attributable to Shareholders of the Listed Company (RMB) | -4,461,334.11 | -111.23 | 68,826,008.96 | -7.17 | | Net Profit Attributable to Shareholders Excluding Non-recurring Items (RMB) | -5,899,507.90 | -114.56 | 64,275,806.96 | -0.95 | | Net Cash Flow from Operating Activities (RMB) | N/A | N/A | 368,506,681.21 | -19.02 | | Basic Earnings Per Share (RMB/share) | -0.0174 | -109.88 | 0.2676 | -18.90 | End of Period Key Assets and Equity Data | Indicator | End of Current Period (RMB) | End of Prior Year (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 5,674,152,052.22 | 5,600,601,266.66 | 1.31 | | Total Equity Attributable to Shareholders of the Listed Company | 2,660,151,186.05 | 2,580,795,781.84 | 3.07 | [Non-recurring Gains and Losses Items and Amounts](index=2&type=section&id=Non-recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) The company's non-recurring gains and losses totaled RMB 1.44 million for the current period and RMB 4.55 million year-to-date, primarily from government grants offset by restructuring expenses Non-recurring Gains and Losses Details | Item | Amount for Current Period (RMB) | Amount Year-to-Date (RMB) | | :--- | :--- | :--- | | Gains/Losses on Disposal of Non-current Assets | -144,565.55 | -3,034,545.05 | | Government Grants Recognized in Current Profit/Loss | 3,082,439.66 | 13,187,183.23 | | Enterprise Restructuring Expenses | -1,743,239.41 | -4,226,085.53 | | Other Non-operating Income and Expenses | 664,221.65 | -146,807.17 | | Less: Income Tax Impact | 420,682.56 | 1,229,543.48 | | **Total** | **1,438,173.79** | **4,550,202.00** | [Analysis of Changes in Key Financial Data and Indicators](index=2&type=section&id=Analysis%20of%20Changes%20in%20Key%20Financial%20Data%20and%20Indicators) Year-to-date operating revenue surged by 103.60% due to the consolidation of French Balian Group, while Q3 net profit declined 111.23% due to customer production cuts and rising raw material costs - Year-to-date operating revenue increased by **103.60%**, primarily due to the consolidation of French Balian Group into the financial statements[9](index=9&type=chunk)[10](index=10&type=chunk) - Net profit attributable to parent company shareholders in Q3 decreased by **111.23%** year-on-year, mainly due to: - Production cuts by some customers due to chip shortages and pandemic impacts, affecting company orders - Rapid increase in aluminum raw material prices, with product price adjustments lagging, impacting operating profit[10](index=10&type=chunk) [Shareholder Information](index=3&type=section&id=Item%20II.%20Shareholder%20Information) This section details the company's shareholder structure, including the total number of shareholders and the top five shareholdings [Total Number of Common Shareholders and Top Ten Shareholders' Shareholding Information](index=3&type=section&id=Total%20Number%20of%20Common%20Shareholders%20and%20Top%20Ten%20Shareholders'%20Shareholding%20Information) As of the end of the reporting period, the company had 14,292 common shareholders, with the top five shareholders collectively holding 57.2% - As of the end of the reporting period, the company had **14,292** common shareholders[11](index=11&type=chunk) Top Five Shareholders' Shareholding Information | Shareholder Name | Number of Shares Held | Shareholding Percentage (%) | | :--- | :--- | :--- | | Tang Jiexiong | 30,000,000 | 11.44 | | Tang Jiebang | 30,000,000 | 11.44 | | Tang Jiewei | 30,000,000 | 11.44 | | Tang Jiecao | 30,000,000 | 11.44 | | Foshan Shengdezhi Investment Co., Ltd. | 30,000,000 | 11.44 | - The company's controlling shareholders and actual controllers are Tang Jiexiong and Tang Jiebang, who are cousins and parties acting in concert; Tang Jiewei and Tang Jiecao are the siblings of Tang Jiexiong and Tang Jiebang, respectively, indicating related party relationships among these shareholders[13](index=13&type=chunk) [Other Reminders](index=4&type=section&id=Item%20III.%20Other%20Reminders) This section highlights other significant matters, including the progress of asset transfers to a wholly-owned subsidiary [Progress of Asset Transfer to Wholly-Owned Subsidiary](index=4&type=section&id=Progress%20of%20Asset%20Transfer%20to%20Wholly-Owned%20Subsidiary) The company is transferring its Foshan factory's casting business to Guangdong Wencan Die Casting Technology Co., Ltd. to separate production and management functions, with most assets and personnel already transferred - The company plans to transfer assets and liabilities related to the Foshan factory's casting business to its wholly-owned subsidiary, Guangdong Wencan Die Casting Technology Co., Ltd., to clarify responsibilities between the group and its factories and separate production from management functions[15](index=15&type=chunk) - The asset transfer involves **RMB 361.70 million** in assets and **RMB 227.37 million** in liabilities; all assets and personnel, except for buildings, have been transferred[15](index=15&type=chunk) [Quarterly Financial Statements](index=5&type=section&id=Item%20IV.%20Quarterly%20Financial%20Statements) This section presents the company's consolidated financial statements for the quarter, including the balance sheet, income statement, and cash flow statement [Consolidated Balance Sheet](index=5&type=section&id=Consolidated%20Balance%20Sheet) As of September 30, 2021, total assets were RMB 5.67 billion, a slight increase of 1.31% from year-end, with total liabilities remaining stable at RMB 3.01 billion and equity attributable to shareholders growing by 3.07% Balance Sheet Key Items | Item | September 30, 2021 (RMB) | December 31, 2020 (RMB) | Change | | :--- | :--- | :--- | :--- | | Total Assets | 5,674,152,052.22 | 5,600,601,266.66 | +1.31% | | Total Liabilities | 3,014,000,866.17 | 3,019,805,484.82 | -0.19% | | Total Equity Attributable to Parent Company Shareholders | 2,660,151,186.05 | 2,580,795,781.84 | +3.07% | [Consolidated Income Statement](index=8&type=section&id=Consolidated%20Income%20Statement) For the first three quarters of 2021, total operating revenue reached RMB 2.97 billion, a 103.60% increase driven by consolidation, but total operating costs grew faster at 110.8%, leading to a 24.78% decline in operating profit 2021 First Three Quarters Income Statement Key Items | Item | 2021 First Three Quarters (RMB) | 2020 First Three Quarters (RMB) | YoY Change | | :--- | :--- | :--- | :--- | | I. Total Operating Revenue | 2,965,129,842.69 | 1,456,332,800.04 | +103.60% | | II. Total Operating Costs | 2,852,481,229.08 | 1,353,307,357.18 | +110.8% | | III. Operating Profit | 72,434,400.66 | 96,304,918.59 | -24.78% | | IV. Total Profit | 70,106,009.65 | 88,054,346.25 | -20.38% | | Net Profit Attributable to Parent Company Shareholders | 68,826,008.96 | 74,143,299.34 | -7.17% | [Consolidated Cash Flow Statement](index=10&type=section&id=Consolidated%20Cash%20Flow%20Statement) In the first three quarters of 2021, net cash flow from operating activities decreased by 19.02% to RMB 368.51 million, while investment and financing activities resulted in net cash outflows, leading to a net decrease in cash and cash equivalents of RMB 218.76 million 2021 First Three Quarters Cash Flow Statement Key Items | Item | 2021 First Three Quarters (RMB) | 2020 First Three Quarters (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 368,506,681.21 | 455,063,004.09 | | Net Cash Flow from Investing Activities | -394,853,120.27 | -565,099,897.22 | | Net Cash Flow from Financing Activities | -178,022,935.20 | 698,452,680.70 | | Net Increase/Decrease in Cash and Cash Equivalents | -218,761,597.14 | 586,123,219.64 | [Adoption and Adjustment of New Lease Standards from 2021](index=12&type=section&id=Adoption%20and%20Adjustment%20of%20New%20Lease%20Standards%20from%202021) Effective January 1, 2021, the company adopted new lease standards, adjusting the opening balance sheet by recognizing right-of-use assets and lease liabilities while reclassifying certain fixed assets and long-term payables - In accordance with Ministry of Finance regulations, the company adopted new lease standards effective **January 1, 2021**, and adjusted relevant financial statement accounts[41](index=41&type=chunk) New Lease Standards' Major Impact on January 1, 2021 Balance Sheet | Item | Adjustment Amount (RMB) | | :--- | :--- | | **Assets** | | | Fixed Assets | -15,408,000.00 | | Right-of-Use Assets | +25,623,825.00 | | **Liabilities and Equity** | | | Lease Liabilities | +15,030,825.00 | | Long-term Payables | -4,317,450.00 | | Retained Earnings | -497,550.00 |

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2021, representing a year-on-year increase of 15%[16]. - Net profit attributable to shareholders reached RMB 150 million, up 20% compared to the same period last year[16]. - The company’s gross margin improved to 25%, an increase of 3 percentage points year-on-year[16]. - The company's operating revenue for the first half of the year reached ¥2,032,504,653.09, representing a 215.37% increase compared to the same period last year[20]. - Net profit attributable to shareholders increased by 112.95% to ¥73,287,343.07, driven by the successful acquisition of the French Bailian Group and its operational stability[21]. - Basic earnings per share rose to ¥0.29, reflecting a 93.34% increase year-over-year[20]. - The net cash flow from operating activities decreased by 19.42% to ¥226,448,291.75 compared to the previous year[20]. - The company's total assets slightly increased by 0.02% to ¥5,601,552,826.72 at the end of the reporting period[20]. - The weighted average return on equity improved to 2.81%, an increase of 1.3 percentage points from the previous year[20]. - The company reported a non-recurring loss of ¥2,889,979.50 from the disposal of non-current assets[22]. - The net profit for the same period was CNY 7,328.73 million, reflecting a year-on-year growth of 112.95%[53]. - Revenue from new energy vehicle products reached CNY 26,849.06 million, accounting for 13.33% of main business revenue, with a year-on-year increase of 165.98%[56]. Market Expansion and Product Development - User data indicates a growth in active customers by 10% to 500,000 during the reporting period[16]. - The company plans to launch two new product lines in Q3 2021, aiming to capture a larger market share in the automotive sector[16]. - The company is expanding its market presence in Europe, with plans to establish a new manufacturing facility by the end of 2021[16]. - The company has established stable partnerships with renowned automotive manufacturers such as Tesla, NIO, and BMW, enhancing its brand recognition in the aluminum die-casting sector[41]. - The acquisition of the French company has expanded the company's product offerings to include complex aluminum lightweight brake components and chassis parts[42]. - The company has developed new clients such as Xiaokang and Niuchuang, expanding its market presence in the automotive sector[58]. Research and Development - Investment in R&D increased by 30% to RMB 100 million, focusing on advanced casting technologies[16]. - Research and development expenses increased by 154.39% to 61,600,899.78 RMB, attributed to higher investment in new project development[62]. - The company has invested in 7 large die-casting machines, including 2 units of 6000T, to enhance the development of integrated body structure components[57]. - The company’s comprehensive process capabilities include high-pressure, low-pressure, and gravity casting, allowing for a diverse range of aluminum alloy products[42]. Industry Trends and Demand - The automotive industry is experiencing a growing demand for precision die-casting parts, particularly in the context of lightweight and high-safety products for both traditional and new energy vehicles[31]. - The global market for aluminum alloy die-casting parts is expected to continue its rapid growth, driven by the automotive industry's shift towards lightweight materials[31]. - The lightweighting of vehicles is driven by energy-saving policies, with a 10% reduction in vehicle weight leading to a 6%-8% decrease in fuel consumption[32]. - The penetration rate of new energy vehicles (NEVs) in China is expected to rise from 4.9% in 2019 to 16%-25% by 2025, with projected sales increasing from 1.06 million units in 2019 to 6 million units by 2025[32]. - The lightweighting of vehicles is increasingly urgent due to the demand for improved performance in electric vehicles, with a 10 kg reduction in weight increasing range by 2.5 km[32]. Risks and Challenges - Management highlighted potential risks including supply chain disruptions and fluctuating raw material prices that could impact future performance[16]. - The company faces risks related to the automotive industry's cyclical fluctuations and potential shortages of upstream raw materials, which could impact production and profitability[71]. - The company's main raw material is aluminum alloy, and fluctuations in aluminum prices pose a risk to operational performance due to the cost-plus pricing model[74]. - Increased competition in the automotive aluminum alloy die-casting industry may lead to a decline in market share if the company fails to enhance product competitiveness[75]. - High foreign sales revenue exposes the company to exchange rate fluctuations, which could result in foreign exchange losses affecting profit levels[76]. - Talent retention is critical for the company, as the loss of key personnel could lead to operational disruptions and potential leakage of core technologies[77]. Environmental Management - The company has established a third-party certified environmental management system to ensure compliance with environmental regulations[101]. - The company has received the "China Green Foundry Enterprise" certificate from the China Foundry Association in 2020[101]. - The company has implemented measures to reduce carbon emissions, including the gradual elimination of high-energy-consuming equipment and the use of clean energy[102]. - The company has set up a wastewater treatment system to ensure that industrial wastewater is treated and reused in compliance with standards[100]. - The company has installed emission control equipment to meet air pollution discharge standards for both melting and molding processes[100]. - The company has taken measures to manage noise pollution, ensuring that factory noise meets industrial standards[100]. Corporate Governance and Compliance - The company commits to providing accurate and complete information regarding the major asset restructuring, ensuring no false statements or significant omissions exist[108]. - There are no ongoing criminal investigations or administrative penalties against the company's directors, supervisors, or senior management in the past three years[109]. - The company ensures independent operational capabilities with assets, personnel, qualifications, and abilities to sustain market-oriented operations[115]. - The company commits to minimizing related party transactions and will sign agreements for unavoidable transactions in compliance with laws and regulations[115]. - The company will comply with legal and regulatory requirements in all transactions and maintain transparency in its operations[112]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period is 13,384[146]. - The total number of shares before the change was 258,768,206, and after the change, it increased to 261,484,460 shares[144]. - The basic earnings per share remained at RMB 0.28 before and after the share change[144]. - The net asset value per share decreased from RMB 10.33 to RMB 10.22 due to the share change[144]. - The company has a total of 30,000,000 shares held by each of the major shareholders, including Tang Jiexiong, Tang Jiebang, Tang Jiewei, and Tang Jiecao, representing 11.47% of the total shares[149].

Financial Performance - The net profit attributable to the parent company for 2020 was CNY 83,804,799.20, while the net profit for the parent company was CNY -36,243,314.39[6]. - The undistributed profits at the end of 2020 amounted to CNY 54,392,840.22 after distributing cash dividends of CNY 34,738,381.50[6]. - The proposed cash dividend distribution is CNY 1.50 per 10 shares (including tax), with no capital increase or bonus shares planned[6]. - The company reported a total of CNY 125,374,536.11 in undistributed profits at the beginning of the year[6]. - The company's operating revenue for 2020 was CNY 2,602,568,883.02, representing a 69.25% increase compared to CNY 1,537,710,088.22 in 2019[26]. - The net profit attributable to shareholders for 2020 was CNY 83,804,799.20, a 17.98% increase from CNY 71,034,496.45 in 2019[26]. - The net cash flow from operating activities increased by 233.52% to CNY 782,935,809.34 in 2020, up from CNY 234,751,943.74 in 2019[26]. - Total assets grew by 42.47% to CNY 5,600,601,266.66 at the end of 2020, compared to CNY 3,931,181,469.52 at the end of 2019[26]. - The basic earnings per share for 2020 was CNY 0.36, a 12.50% increase from CNY 0.32 in 2019[26]. - The company reported a significant increase in net profit after deducting non-recurring gains and losses, reaching CNY 84,074,475.67, which is a 40.34% increase from CNY 59,908,666.53 in 2019[26]. - The weighted average return on net assets for 2020 was 3.48%, slightly down from 3.49% in 2019[29]. - The company’s gross profit margin for 2020 was 23.56%, which would be 28.00% if excluding the impact of newly consolidated entities[77]. - The net profit for 2020 was CNY 89.95 million, representing a year-on-year increase of 26.63%. The net profit attributable to the parent company was CNY 83.80 million, up 17.98%[76]. Acquisitions and Expansions - The company completed the acquisition of France's Baolian Group, enhancing its global production layout and operational capabilities[75]. - The acquisition of France's Baolian Group has expanded the company's product offerings, including turbocharging systems and complex aluminum lightweight brake components[63]. - The company completed the acquisition of 100% equity in Le Bélier Group for a total price of €239.6872 million, with the controlling stake valued at €144.0794 million[116]. - The company plans to establish a second production base in the Yangtze River Delta region and expand capacity at existing facilities[85]. - The company’s subsidiary in Jiangsu is undergoing expansion and modernization to enhance low-pressure and gravity casting capacity, improving order response and product delivery capabilities[83]. Market and Industry Trends - The global market for aluminum alloy die-castings in the automotive sector is experiencing rapid growth, driven by increasing demand for lightweight components in both traditional and electric vehicles[47]. - The automotive industry's shift towards lightweight materials is driven by energy-saving policies, with a 10% reduction in vehicle weight leading to a 6%-8% decrease in fuel consumption[51]. - The penetration rate of new energy vehicles (NEVs) is expected to rise significantly, from 2.6% in 2019 to an estimated 16%-25% by 2025, indicating a growing market for lightweight components[51]. - Aluminum and high-strength steel are projected to dominate the lightweight materials market, with aluminum expected to account for nearly 65% of the market by 2020[52]. - The automotive industry's increasing focus on lightweight design and materials is reshaping the market landscape, with significant implications for the company's growth strategy[51]. - The company has established long-term partnerships with major automotive manufacturers, which requires passing rigorous supplier qualification processes that can take 1-2 years[46]. Research and Development - R&D expenses for the year amounted to CNY 83.49 million, representing 3.21% of total revenue, with multiple products achieving mass production approval[82]. - The company aims to enhance its R&D and innovation capabilities, focusing on opportunities in "automotive lightweighting," "new energy vehicles," and "large integrated casting technology" in 2021[131]. - The company’s new product development project achieved a tensile strength of 315 MPa and a yield strength of 204 MPa, indicating significant advancements in manufacturing technology[82]. - The company has implemented a comprehensive procurement management system to control costs and ensure the quality of raw materials and components[40]. Risks and Challenges - The company faces risks from fluctuating raw material prices, particularly aluminum, which could impact pricing and profitability[143]. - The company is exposed to market competition risks as new entrants join the automotive aluminum die-casting sector, potentially affecting market share[144]. - The company has not experienced any major product recalls due to quality issues, but faces potential compensation risks if significant quality problems arise in the future[152]. - The company is at risk of management challenges due to the expansion of assets and business scale following the acquisition, necessitating improvements in management capabilities[151]. - Changes in national laws or regulations could affect the company's eligibility for tax incentives, potentially impacting future operating performance[153]. Corporate Governance - The board of directors and supervisory board members have confirmed the accuracy and completeness of the annual report[4]. - The company has established specific conditions for stopping the stock price stabilization measures, including a sustained stock price above the net asset value for five consecutive trading days[171]. - The company guarantees that all information and documents related to the transaction are true, accurate, and complete, with no false records or misleading statements[195]. - The company’s management will ensure that their personal consumption behavior is constrained to protect company interests[194]. - The company has committed to not engaging in any business activities that compete with its main operations, ensuring no conflicts of interest among its major shareholders and management[178].

Financial Performance - Operating revenue for the period was CNY 1,050,665,806.84, representing a significant increase of 307.41% year-on-year[11]. - Net profit attributable to shareholders was CNY 50,154,358.15, up 389.15% from the same period last year[11]. - Basic earnings per share increased to CNY 0.1938, a rise of 317.67% year-on-year[11]. - The net profit after deducting non-recurring gains and losses was CNY 48,827,338.56, reflecting a year-on-year increase of 1,515.36%[11]. - Total operating revenue for Q1 2021 reached ¥1,050,665,806.84, a significant increase of 307.5% compared to ¥257,886,483.39 in Q1 2020[45]. - Net profit for Q1 2021 was ¥50,154,358.15, compared to ¥10,253,431.76 in Q1 2020, representing an increase of 388.5%[48]. - Basic earnings per share for Q1 2021 were ¥0.1938, up from ¥0.0464 in Q1 2020, indicating a growth of 317.2%[48]. Cash Flow - Net cash flow from operating activities was CNY 168,721,795.02, an increase of 32.25% compared to the previous year[11]. - Cash flow from operating activities netted RMB 168,721,795.02, a 32.25% increase from RMB 127,579,356.37[24]. - Cash flow from investing activities showed a net outflow of RMB -95,329,706.12, a 134.26% increase in outflow compared to RMB -40,693,399.74[24]. - Cash flow from financing activities recorded a net outflow of RMB -202,218,471.78, a significant increase in outflow of 455.86% from RMB 56,825,953.11[24]. - The net cash flow from operating activities was -126,796,410.47 RMB, a significant decrease compared to 245,340,040.38 RMB in the same period last year[60]. - Cash inflow from operating activities totaled 172,053,784.29 RMB, a decline from 298,022,179.85 RMB in the previous year[60]. - Cash outflow from operating activities increased to 298,850,194.76 RMB, compared to 52,682,139.47 RMB in the same quarter last year[60]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 5,623,759,446.71, a 0.41% increase compared to the end of the previous year[11]. - Total current assets amounted to RMB 2,136,188,117.01, up from RMB 2,081,708,489.41[31]. - Total liabilities decreased to ¥2,999,452,366.47 from ¥3,019,805,484.82, representing a decline of approximately 0.67%[36]. - Owner's equity increased to ¥2,624,307,080.24 from ¥2,580,795,781.84, marking an increase of about 1.68%[36]. - The total assets decreased to ¥3,364,949,993.59 in Q1 2021 from ¥3,541,463,033.97 in Q1 2020, a decline of approximately 5.0%[45]. - The total liabilities were 2,081,708,489.41 RMB, remaining stable compared to the previous year[65]. Shareholder Information - The total number of shareholders at the end of the reporting period was 19,142[18]. - The top five shareholders each hold 30,000,000 shares, representing 11.56% of the total shares[18]. Research and Development - Research and development expenses for Q1 2021 were ¥31,226,527.92, compared to ¥11,738,858.12 in Q1 2020, marking an increase of 166.6%[45]. - Research and development expenses increased to ¥4.17 million in Q1 2021, up from ¥2.62 million in Q1 2020, reflecting a 59.5% rise[52]. Tax and Other Expenses - Tax expenses for Q1 2021 were ¥9,137,017.26, up from ¥2,191,607.36 in Q1 2020, reflecting an increase of 316.5%[48]. - Other comprehensive income after tax for Q1 2021 was -¥33,777,054.38, compared to ¥50,047.15 in Q1 2020[48]. Compliance and Standards - The company is in compliance with the new leasing standards effective from January 1, 2021, which may impact future financial reporting[76].