Financial Performance - The company's operating revenue for 2018 was approximately ¥11.20 billion, an increase of 5.98% compared to ¥10.57 billion in 2017[26]. - The net profit attributable to shareholders for 2018 was approximately ¥919.28 million, a decrease of 4.69% from ¥964.55 million in 2017[26]. - The net cash flow from operating activities increased by 18.62% to approximately ¥1.39 billion in 2018, compared to ¥1.17 billion in 2017[26]. - The basic earnings per share for 2018 was ¥0.44, down 4.35% from ¥0.46 in 2017[27]. - The weighted average return on equity decreased by 1.71 percentage points to 14.18% in 2018 from 15.89% in 2017[27]. - The total assets at the end of 2018 were approximately ¥11.98 billion, an increase of 5.29% from ¥11.38 billion at the end of 2017[26]. - The net assets attributable to shareholders decreased by 3.43% to approximately ¥6.40 billion at the end of 2018, compared to ¥6.63 billion at the end of 2017[26]. - The company reported a net profit of approximately ¥309.48 million in Q4 2018, which was the highest quarterly profit for the year[29]. - The company received government subsidies amounting to approximately ¥116.04 million in 2018, which were closely related to its normal business operations[31]. - The fair value changes of investment properties positively impacted the profit by approximately ¥106.73 million in 2018[34]. Revenue Breakdown - The engine business accounted for 23.19% of total revenue, a decrease of 0.34 percentage points year-on-year[38]. - The motorcycle business represented 36.12% of total revenue, down 3.24 percentage points year-on-year[38]. - The generator set business contributed 23.28% to total revenue, an increase of 5.08 percentage points year-on-year[38]. - The four-wheeled low-speed electric vehicle business made up 9.18% of total revenue, decreasing by 3.10 percentage points year-on-year[38]. - The automotive parts business accounted for 7.26% of total revenue, an increase of 1.64 percentage points year-on-year[38]. - Export revenue constituted 56.40% of total revenue during the reporting period[38]. Market Position and Sales - The company ranked second in the industry for engine sales volume in 2018[42]. - The motorcycle business saw a total sales volume of 1,557.05 million units, a year-on-year decline of 9.13%[42]. - The generator set exports reached 742,000 units, a year-on-year increase of 13.7%[43]. - The large commercial generator set market's total export revenue was $2.365 billion, a year-on-year increase of 30.49%[43]. - The company ranked 2nd in the national sales of four-wheeled low-speed electric vehicles in 2018[46]. - The company achieved the industry's leading position in small household generator exports in 2018, while ranking 4th among domestic generator manufacturers[46]. Research and Development - The company has developed a new generation of variable frequency generator technology, achieving industry-leading performance and reliability[55]. - The CMD22 aviation engine product has completed EASA certification, marking a significant milestone in the company's aviation engine development[59]. - The company has established a leading general power testing center with over 100 testing capabilities, recognized by the China National Accreditation Service for Conformity Assessment (CNAS)[51]. - The company has successfully launched a high-end large-displacement motorcycle brand "Wuji," showcasing its competitive advantage in design and manufacturing[54]. - The company has implemented range-extending hybrid technology in low-speed electric vehicles, enhancing product range and reducing charging frequency[57]. - The company has developed the XV-3 and XV-5 industrial drones, which demonstrate advanced capabilities in autonomous flight and agricultural applications[58]. Strategic Plans and Investments - The company plans to focus on the aviation equipment manufacturing industry, particularly through acquisitions and resource integration, as part of its strategic plan for 2018-2022[120]. - The company invested ¥71,475.95 million in capital expenditures in 2018, with significant spending on engine and motorcycle projects[126]. - The company established a wholly-owned subsidiary, Nanjing Longxin, with an investment of ¥30 million to enhance its operational capabilities[121]. - The company completed the acquisition of a 66% stake in Jinye Machinery through a capital increase and share transfer, with a total investment of ¥6,500 million for the capital increase and ¥36,400 million for the share transfer[125]. Risks and Challenges - The company faces risks from macroeconomic changes, with GDP growth adjusted to 6%-6.5%, potentially impacting product sales and market expansion[193]. - Over 50% of the company's export business is sensitive to RMB/USD exchange rate fluctuations, prompting measures to mitigate risks associated with currency volatility[194]. - Rising prices of raw materials pose a cost risk to the company, potentially affecting profitability[197]. - The company is advancing in aviation equipment manufacturing but faces risks related to the expected expansion of drone applications and the certification of general aviation engines[198]. Corporate Governance and Compliance - The company received a standard unqualified audit report from Xinyong Zhonghe Accounting Firm[6]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties[9]. - The company has detailed potential risks in its report, which investors should review carefully[9]. - The company’s registered address is located at No. 99 Hualong Avenue, Jiulongpo District, Chongqing[20]. - The company’s stock is listed on the Shanghai Stock Exchange under the code 603766[22]. - The company’s financial report is available at the board office for review[21]. - The company’s future plans and strategies are subject to objective conditions and do not constitute a commitment to investors[8]. - The company’s legal representative is Gao Yong[18].

Financial Performance - Operating revenue for the first nine months increased by 9.81% to CNY 7,980,726,079.77 compared to CNY 7,267,508,357.39 in the same period last year[6]. - Net profit attributable to shareholders decreased by 11.71% to CNY 609,803,477.89 from CNY 690,651,673.73 year-on-year[6]. - Basic and diluted earnings per share decreased by 9.12% to CNY 0.2970[7]. - The company achieved operating revenue of CNY 7.98 billion, a year-on-year increase of 9.81%, driven primarily by export sales[16]. - The net profit attributable to the parent company was CNY 610 million, a decrease of 11.71% year-on-year, while the net profit after deducting non-recurring gains and losses was CNY 554 million, down 7.31%[20]. - The company reported a gross profit margin of 18.50%, a decrease of 1.54 percentage points year-on-year, but an increase of 0.59 percentage points compared to the first half of the year[20]. - Net profit for Q3 2018 reached ¥213.62 million, up from ¥206.85 million in the same period last year, representing a growth of 0.8%[45]. - The company reported a total profit of approximately ¥257.62 million for Q3 2018, compared to ¥244.38 million in Q3 2017, reflecting a year-over-year increase of 5.0%[45]. - The total comprehensive income for Q3 2018 was approximately ¥227.56 million, up from ¥209.28 million in Q3 2017, marking an increase of 8.7%[45]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 11,363,427,086.69, a decrease of 0.15% compared to the end of the previous year[6]. - Net assets attributable to shareholders decreased by 6.87% to CNY 6,170,187,217.72 from CNY 6,625,258,067.28[6]. - Current liabilities increased to ¥4,217,853,793.14 from ¥3,839,388,618.17, reflecting a rise of 9.8%[37]. - Total liabilities reached ¥4,550,134,101.98, compared to ¥4,152,637,529.94 at the start of the year, marking an increase of 9.6%[37]. - The company's equity attributable to shareholders decreased to ¥6,170,187,217.72 from ¥6,625,258,067.28, a decline of 6.9%[37]. Cash Flow - Net cash flow from operating activities increased by 20.05% to CNY 577,116,802.92 compared to CNY 480,733,890.87 in the same period last year[6]. - The company’s cash flow from operating activities was CNY 577 million, an increase of 20.05% compared to the same period last year, mainly due to higher export tax rebates[19]. - The company’s cash flow from investing activities improved significantly, with a net inflow of CNY 287 million, compared to a net outflow of CNY 561 million in the previous year[19]. - Cash inflow from financing activities was ¥644,543,902.95, up from ¥187,987,769.68 in the previous year[55]. - Net cash flow from financing activities was negative at ¥-726,889,505.61, worsening from ¥-436,491,166.42 year-on-year[55]. Shareholder Information - The total number of shareholders at the end of the reporting period was 49,374[10]. - The largest shareholder, Longxin Holdings Co., Ltd., held 50.92% of the shares, with 1,023,664,083 shares pledged[11]. - The company repurchased 59,535,500 shares, accounting for 2.82% of total share capital, with a total expenditure of approximately 300 million RMB[29]. Business Segments - The engine business generated revenue of CNY 1.86 billion, a slight decline of 0.15% year-on-year, with sales of road engines dropping by 9.97% to CNY 907 million[21]. - The motorcycle business reported revenue of CNY 2.97 billion, a decrease of 3.25% year-on-year, while export sales increased by 4.04% to CNY 2.20 billion[22]. - The generator business achieved revenue of 1.839 billion RMB, a year-on-year increase of 53.29%, with a gross margin of 21.1%[23]. - The small household generator segment generated revenue of 1.059 billion RMB, up 90.73%, with exports to the US reaching 870 million RMB, a growth of 135.77%[23]. - The four-wheeled low-speed electric vehicle segment sold 30,400 units, a decline of 14.14%, with revenue of 661 million RMB, down 5.14%[24]. - The lightweight automotive parts business reported revenue of 592 million RMB, a year-on-year increase of 50.11%[25]. Research and Development - Research and development expenses for Q3 2018 were ¥76.94 million, a decrease of 11.5% from ¥87.30 million in Q3 2017[44]. - Research and development expenses for the year-to-date amounted to ¥37,522,783.39, compared to ¥31,657,267.40 for the same period last year, reflecting a 18.4% increase[47]. - The CMD22 aviation gasoline engine received certification from EASA, marking a significant milestone for the aviation engine business[28]. Market Expansion - The company plans to expand its market presence with the launch of the new high-end motorcycle brand "VOGE" at the China International Motorcycle Expo[22]. Unmanned Helicopters - The company produced 34 unmanned helicopters during the reporting period, delivering 28 units of the XV-2 model for agricultural use[26]. - The cumulative service area for the XV-2 unmanned helicopter reached 51,450 acres, primarily in Xinjiang, Heilongjiang, and Inner Mongolia[27]. - The XV-5 unmanned helicopter achieved a hover flight test of 4 hours and 50 minutes, setting a record among similar models[27].

Financial Performance - The company's operating revenue for the first half of 2018 was RMB 5,133,178,382.61, representing an increase of 8.27% compared to RMB 4,741,022,507.13 in the same period last year[20]. - The net profit attributable to shareholders of the listed company decreased by 16.71% to RMB 417,387,056.87 from RMB 501,149,466.75 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was RMB 380,098,524.90, down 10.26% from RMB 423,557,994.28 in the same period last year[20]. - The basic earnings per share for the first half of 2018 was RMB 0.1975, a decrease of 16.73% compared to RMB 0.2372 in the previous year[21]. - The weighted average return on net assets decreased by 1.78 percentage points to 6.22% from 8.00% in the same period last year[21]. - The net cash flow from operating activities was RMB 282,798,413.85, an increase of 4.14% compared to RMB 271,548,007.24 in the previous year[20]. - The total assets at the end of the reporting period were RMB 11,123,494,330.18, a decrease of 2.25% from RMB 11,380,100,043.17 at the end of the previous year[20]. - The net assets attributable to shareholders of the listed company decreased by 4.28% to RMB 6,341,421,971.71 from RMB 6,625,258,067.28 at the end of the previous year[20]. Revenue Breakdown - The company achieved a revenue of 5.133 billion yuan, representing a year-on-year growth of 8.27%, with export revenue accounting for 2.818 billion yuan, or 54.90% of total revenue, up 15.16% year-on-year[34]. - The engine business generated revenue of 1.277 billion yuan, down 3.06% year-on-year, with sales of road engines declining by 15.67% to 605 million yuan[35]. - The motorcycle business reported revenue of 1.877 billion yuan, a decrease of 6.92% year-on-year, with domestic sales revenue dropping by 23.13%[37]. - The generator set business achieved revenue of 1.065 billion yuan, a year-on-year increase of 39.98%, with small household generator sets revenue growing by 75.63%[38]. - The company exported small household generator sets worth 507 million yuan to the U.S., marking a year-on-year increase of 128.03%[38]. - The company’s non-road engine business saw revenue increase by 10.34% to 662 million yuan, with exports to the U.S. reaching 297 million yuan, up 10%[35]. - The company’s large commercial generator set business generated revenue of 415 million yuan, a year-on-year increase of 11.00%, with significant growth in export revenue[39]. - The company’s new product, a hybrid engine for four-wheel low-speed electric vehicles, saw sales increase by 152.30% to 6,676 units[35]. - The four-wheeled low-speed electric vehicle business achieved sales of 21,600 units, a year-on-year increase of 6.15%, with revenue of 480 million yuan, up 17.80%[40]. - The hybrid system four-wheeled low-speed electric vehicles sold 8,291 units, marking a significant year-on-year growth of 158.37%[40]. - The lightweight automotive parts business generated revenue of 384 million yuan, representing an 80.58% increase year-on-year[45]. - CMD automotive parts revenue was 99 million yuan, a decline of 9.45% year-on-year, while Chongqing Liteway and Nanjing Longni companies saw revenue of 268 million yuan, up 201.92%[45]. Research and Development - Research and development expenses increased by 11.75% to 158.6 million yuan, indicating a focus on innovation[47]. - The company added 192 new patents during the reporting period, bringing the total to 1,745 valid patents as of June 30, 2018[32]. Dividends and Shareholder Information - The company plans to distribute a cash dividend of RMB 0.70 per 10 shares, totaling approximately RMB 147,681,614.50, which accounts for 35.38% of the net profit attributable to shareholders for the first half of 2018[6]. - The total number of ordinary shareholders reached 51,162 by the end of the reporting period[136]. - The company’s total share capital is 2,113,077,350 shares, with 2,077,678,975 shares being unrestricted[131]. - The company’s largest shareholder, Longxin Holdings, holds 49.48% of the shares, amounting to 1,045,591,564 shares[139]. Risks and Challenges - The company faces macroeconomic risks due to the impact of the US-China trade war, which includes tariffs on non-road engines and small household generators[78]. - Currency fluctuation risks are present as the depreciation of the RMB against the USD may lead to foreign exchange losses despite potential gains[79]. - Market risks include a decline in motorcycle production and sales, as well as uncertainties in the national technical standards for low-speed electric vehicles[79]. - The top five customers accounted for 23.31% of the company's revenue in the first half of 2018, indicating a risk of dependency on major clients[80]. - Rising prices of raw materials pose a risk of increased costs for the company[81]. - The company faces risks in expanding its unmanned helicopter products into other application areas and in scaling its agricultural aviation business[82]. Corporate Governance and Compliance - The company has no major litigation or arbitration matters during the reporting period[96]. - There were no significant changes in the company's accounting firm during the audit period[96]. - The company has not disclosed any major related party transactions during the reporting period[102]. - The company has not experienced any bankruptcy reorganization matters during the reporting period[96]. - The company has not issued any non-standard audit reports for the previous year's financial statements[96]. - The company has implemented administrative regulatory measures against a former director for violations of stock management rules[96]. - The company has committed to maintaining transparency and accuracy in its financial reporting, as outlined in its compliance documents[92]. Environmental and Social Responsibility - The company invested CNY 99.36 million in poverty alleviation projects, focusing on supporting enterprises in the western region[109]. - The company has implemented a cash procurement strategy to support the development of western enterprises[110]. - The company plans to continue implementing targeted poverty alleviation measures based on its development situation[111]. - The company has established effective pollution control facilities that are in good working condition and operate effectively[120]. - The company adheres to environmental protection laws and regulations, strictly controlling various pollutants generated[121]. - The company has completed the environmental protection facilities for new construction and renovation projects, including plastic coating waste gas treatment and water-based paint transformation projects[122]. Future Outlook - The company provided a positive outlook for the second half of 2018, projecting a revenue growth of 10% to 12%[93]. - New product launches are expected to contribute an additional 300 million RMB in revenue by the end of 2018[94]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by 2020[92]. - The company is exploring potential acquisitions to enhance its product portfolio and market reach, with a budget of 500 million RMB allocated for this purpose[94]. - A new strategic partnership was announced, expected to generate an additional 200 million RMB in revenue over the next two years[91]. - The company aims to improve operational efficiency, targeting a 5% reduction in costs by the end of 2018[93]. Financial Position - The total assets as of June 30, 2018, amounted to RMB 11,123,494,330.18, a decrease from RMB 11,380,100,043.17 at the beginning of the period[148]. - The company's current assets totaled RMB 5,040,600,348.23, down from RMB 5,125,899,174.01 at the beginning of the period[148]. - The total liabilities were RMB 4,164,626,427.65, slightly up from RMB 4,152,637,529.94 at the beginning of the period[149]. - The owner's equity decreased to RMB 6,958,867,902.53 from RMB 7,227,462,513.23[150]. - Cash and cash equivalents were RMB 1,566,062,428.70, down from RMB 1,724,071,265.98[148]. - Accounts receivable increased to RMB 1,959,473,599.22 from RMB 1,733,559,820.67[148]. - Inventory rose to RMB 745,492,627.41 from RMB 629,100,321.18[148]. - Short-term borrowings increased significantly to RMB 150,014,350.69 from RMB 53,958,690.15[149]. - The company reported a decrease in retained earnings to RMB 3,386,966,326.11 from RMB 3,666,894,794.74[150].

Financial Performance - The company plans to distribute a cash dividend of 3.3 RMB per 10 shares, totaling approximately 697.32 million RMB for the year 2017[5]. - Basic earnings per share for 2017 increased to 0.46 RMB, a 9.52% increase compared to 0.42 RMB in 2016[20]. - The weighted average return on equity for 2017 was 15.89%, an increase of 0.42 percentage points from 15.47% in 2016[20]. - The company reported a diluted earnings per share of 0.46 RMB for 2017, consistent with the basic earnings per share[20]. - The net profit attributable to shareholders for 2017 showed a significant increase, reflecting the company's strong operational performance[20]. - The company’s financial report received a standard unqualified audit opinion from the accounting firm[4]. - The company has committed to ensuring the accuracy and completeness of its financial reports, with key management personnel affirming this[4]. - The net profit attributable to shareholders for 2017 was CNY 964,550,908.31, an increase of 11.43% compared to the previous year[21]. - The net profit after deducting non-recurring gains and losses was CNY 808,527,233.52, reflecting a slight increase of 1.92% year-on-year[21]. - The company achieved a total revenue of 10.57 billion RMB in the reporting period, representing a year-on-year growth of 24.62%[73]. Revenue and Sales - The company's operating revenue for 2017 was CNY 10,572,102,650.03, representing a year-on-year increase of 24.62%[21]. - The company achieved export revenue of approximately $214 million in Q4 2017, a year-on-year growth of 39.78%[102]. - The company’s export revenue constituted 50.27% of total operating revenue[32]. - The company’s motorcycle exports reached 4.4 billion USD, becoming the first motorcycle enterprise in the industry to exceed 400 million USD in export revenue[60]. - The company’s small household generator business generated revenue of 0.857 billion CNY, a growth of 34.04%, with exports to the US market increasing by 60.62%[63]. - The company’s large commercial generator business achieved revenue of 1.028 billion CNY, a year-on-year increase of 16.13%, with significant growth in the communication and oil/gas drilling sectors[63]. Operational Metrics - The net cash flow from operating activities for 2017 was CNY 1,169,219,267.37, showing a decrease of 8.20% compared to the previous year[21]. - By the end of 2017, the net assets attributable to shareholders were CNY 6,625,258,067.28, an increase of 8.92% from the end of 2016[21]. - Total assets at the end of 2017 reached CNY 11,380,100,043.17, marking a 15.23% increase year-on-year[21]. - The company’s total cash and cash equivalents at the end of the period decreased by 19.90% to CNY 1,030,831,218.04 from CNY 1,286,858,775.11[93]. - The production volume of engines was 4.13 million units, with sales volume at 3.22 million units, reflecting an increase of 10.64% in production compared to the previous year[80]. Market Performance - The engine business accounted for 23.53% of total revenue, a decrease of 2.6 percentage points year-on-year[31]. - Motorcycle business contributed 39.36% to total revenue, down by 0.7 percentage points compared to the previous year[31]. - The motorcycle market in China experienced a shift towards higher displacement models, with sales of 150CC and above increasing by 20.7%[35]. - The company maintained its position as the top exporter of small household generators in the industry and ranked 12th in large commercial generator export revenue[38]. - The four-wheeled low-speed electric vehicle industry saw production and sales grow from 200,000 units in 2013 to 1.1 million units in 2017, achieving an average annual growth rate of over 50%[39]. Product Development and Innovation - The company launched several new products, including a continuously variable transmission three-wheeled vehicle and a high-displacement dual-cylinder engine, both of which are now on the market[89]. - The company is currently developing several projects, including a new entry-level single-cylinder street bike and a hybrid powertrain for low-speed electric vehicles, which are still in progress[89]. - The company has successfully developed and mass-produced engines for the XV series drones, expanding their application fields[45]. - The company is focusing on expanding its market presence in rural areas and lower-tier cities with its four-wheeled low-speed electric vehicles, addressing short-distance travel needs[39]. - The company is actively pursuing new technologies in various product lines, including remote monitoring and advanced inverter technologies for generator sets[50]. Strategic Initiatives - The company is actively pursuing strategic transformation through external equity acquisitions to integrate resources[107]. - The company is expanding its automotive parts business into new energy vehicle components and transmission systems, upgrading from rough to precision processing[172]. - The company signed a supply agreement for 100 backup power units with China Tower Corporation for 5G base station construction, enhancing its market presence[179]. - The company is focusing on lightweight automotive components to align with the trend of vehicle electrification and is enhancing its project management capabilities[184]. - The company is expanding its "Farm Help" platform and enhancing its big data analysis capabilities using artificial intelligence to better meet customer needs[182]. Risks and Challenges - The company has outlined potential risks in its future plans and strategies, advising investors to be cautious[6]. - The company faces risks from macroeconomic changes, including potential trade wars and structural adjustments in the Chinese economy, which could impact market expansion and sales[185]. - The company is addressing currency fluctuation risks by implementing various measures, including forward foreign exchange contracts and pricing in RMB for some export customers[186]. - The company is experiencing pressure to adjust its product structure due to declining motorcycle production and sales in the domestic market[187].

Financial Performance - The company achieved operating revenue of RMB 2.40 billion in Q1 2018, representing a year-on-year increase of 6.59%[10] - The net profit attributable to shareholders was RMB 210.70 million, a decrease of 8.74% compared to the same period last year[10] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 204.88 million, down 9.20% year-on-year[10] - Total operating revenue for Q1 2018 was CNY 2,400,570,072.72, an increase of 6.6% compared to CNY 2,252,201,493.23 in the same period last year[33] - Net profit for Q1 2018 was CNY 225,170,361.50, a decrease of 9.1% from CNY 247,645,213.73 in Q1 2017[34] - Earnings per share for Q1 2018 were CNY 0.0997, down from CNY 0.1093 in the previous year[35] - The total comprehensive income for Q1 2018 was CNY 221,842,402.34, down from CNY 247,193,741.33 in Q1 2017, reflecting a decrease of 10.2%[35] Revenue and Sales - The export revenue reached RMB 1.34 billion, accounting for 55.91% of total revenue, an increase of 4.45 percentage points year-on-year[10] - The generator set business saw revenue growth of 41.09%, reaching RMB 447 million[12] - The sales volume of small household generator sets increased by 59.21%, generating revenue of RMB 290 million, a year-on-year increase of 76.28%[18] - The company launched a series of new products, including a hybrid four-wheel low-speed electric vehicle, achieving sales of 3,230 units in Q1 2018[13] Assets and Liabilities - The company's total assets at the end of the reporting period were RMB 11.33 billion, a decrease of 0.43% from the end of the previous year[7] - The company's accounts receivable decreased by 30.41% to ¥278,149,225.37, primarily due to payments made for accepted bills[21] - Total liabilities decreased to CNY 3,882,066,152.40 from CNY 4,152,637,529.94, a decline of approximately 6.5%[27] - The company's equity increased to CNY 7,449,091,701.12 from CNY 7,227,462,513.23, reflecting an increase of approximately 3.1%[27] Cash Flow - The company's cash flow from operating activities was RMB 86.10 million, a significant decline of 72.78% year-on-year[7] - Net cash flow from operating activities decreased by 72.78% to ¥86,097,158.81, primarily due to increased payments for goods[22] - Cash inflow from operating activities totaled CNY 2,644,761,229.53, an increase of 14.7% from CNY 2,305,633,449.48 in the previous period[40] - Total cash outflow from operating activities was CNY 2,558,664,070.72, compared to CNY 1,989,345,208.50 in the previous period[40] - The company reported a net cash increase of CNY 49,958,353.31, a significant decrease from CNY 888,570,190.81 in the prior period[41] Costs and Expenses - The company's tax and additional charges increased by 36.98% to ¥11,893,537.84 compared to the same period last year, primarily due to an increase in value-added tax[21] - Financial expenses surged by 336.31% to ¥43,436,174.50, mainly due to increased exchange losses from the appreciation of the RMB against the USD[21] - The impairment loss on assets rose by 53.32% to ¥820,208.08, attributed to increased bad debt provisions for receivables from Italy's CMD[21] - Total operating costs for Q1 2018 were CNY 2,180,868,338.82, up 10.8% from CNY 1,968,346,428.38 in Q1 2017[34] - The financial expenses for Q1 2018 were CNY 43,436,174.50, significantly higher than CNY 9,955,393.67 in Q1 2017, indicating an increase of 336.5%[34] Inventory and Prepayments - Prepayments increased by 113.14% to ¥112,009,458.59, indicating a rise in advance payments for goods[21] - The company reported a significant increase in advance receipts by 64.11% to ¥237,437,576.16, reflecting higher advance payments received from customers[21] - Inventory decreased to CNY 621,599,195.34 from CNY 629,100,321.18, showing a reduction of about 1.5%[25] Certification and Milestones - The company received the TC certification for the CMD22 aviation gasoline engine from the European Aviation Safety Agency (EASA) on January 16, 2018, marking a significant milestone in the CMD project[22]

2017 年第三季度报告 公司代码：603766 公司简称：隆鑫通用 隆鑫通用动力股份有限公司 2017 年第三季度报告 1 / 24 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 11 | 2017 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 公司负责人高勇、主管会计工作负责人王建超及会计机构负责人（会计主管人员）杨俐娟保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 单位：元 币种：人民币 | | 本报告期末 | 上年度末 | | 本报告期末比上 | | --- | --- | --- | --- | --- | | | | 调整后 | 调整前 | 年度末增减(%) | | ...

Financial Performance - The company's operating revenue for the first half of 2017 reached ¥4,741,022,507.13, representing a 22.16% increase compared to ¥3,881,086,442.73 in the same period last year[19] - The net profit attributable to shareholders was ¥501,149,466.75, up 17.35% from ¥427,056,611.78 in the previous year[19] - Basic earnings per share rose to ¥0.2372, a 16.33% increase from ¥0.2039 in the same period last year[20] - The weighted average return on net assets increased to 8.00%, up from 7.84% in the previous year[20] - The company reported a net profit of ¥423,557,994.28 after deducting non-recurring gains and losses, which is a 4.30% increase from ¥406,109,722.76 last year[19] - The total profit for the period was CNY 627,695,092.83, up 13.3% from CNY 553,963,001.46 in the previous year[143] - The total comprehensive income for the period was CNY 549,150,780.86, down 12.4% from CNY 626,836,941.54 in the same period last year[143] Cash Flow - The net cash flow from operating activities decreased by 43.10% to ¥271,548,007.24, down from ¥477,220,631.42 in the same period last year[19] - The net cash flow from investing activities significantly improved to ¥543,428,978.16, compared to a negative cash flow of ¥140,218,283.27 in the same period last year, marking a 487.56% increase[19] - The net cash flow from financing activities was negative at ¥252,888,921.05, which is a 16.63% increase in outflow compared to ¥216,831,908.24 last year[19] - The net cash flow from operating activities for the first half of 2017 was CNY 60,755,294.22, a significant improvement compared to a net outflow of CNY 385,416,946.38 in the same period last year[152] - The total cash inflow from operating activities was CNY 2,152,613,885.08, which is a 23.6% increase from CNY 1,739,984,595.77 in the prior year[152] Assets and Liabilities - The total assets of the company increased by 5.86% to ¥10,455,290,338.92, compared to ¥9,876,174,908.02 at the end of the previous year[19] - Total liabilities rose to ¥3,719,232,534.92, up from ¥3,342,049,858.45, indicating an 11.3% increase[135] - The company's equity attributable to shareholders increased to ¥6,168,424,543.46 from ¥6,082,847,622.81, a growth of 1.4%[135] - The company's total assets at the end of the period amount to 6,736,057,000 RMB, showing a robust asset base for future growth[161] Revenue Breakdown - The motorcycle business generated revenue of 2.016 billion yuan, up 24.83%, while export revenue reached 1.335 billion yuan, increasing by 34.27%[36] - The generator set business recorded revenue of 760 million yuan, a growth of 23.58%, with a gross margin increase of 1.21 percentage points to 23.08%[38] - The small household generator business achieved sales revenue of 370 million RMB, a year-on-year increase of 24.35%, with variable frequency generator sales reaching 22,000 units, up 27.87%[39] - The large commercial generator business generated sales revenue of 373 million RMB, a year-on-year growth of 17.53%, with domestic market sales increasing by 27.83%[39] - The engine business reported revenue of 1.318 billion RMB, a year-on-year increase of 17.68%, with non-road engines seeing a significant growth of 40.51%[40] Market and Product Development - The company launched a lithium battery version of its four-wheeled low-speed electric vehicle, enhancing its market competitiveness[38] - The company added 197 new patents during the reporting period, including 23 invention patents[33] - The motorcycle LX300 received approval for compliance with national emission standards, expected to start mass production by the end of 2017[36] - The company’s investment in intelligent product features and battery management systems aims to reduce user costs and enhance competitiveness in changing market conditions[38] Risks and Challenges - The company faces risks from macroeconomic fluctuations, which may impact market expansion and product sales[82] - Currency exchange rate fluctuations pose a risk to the company's foreign exchange gains and losses[83] - The domestic motorcycle market is expected to continue declining, increasing competition and pressure on operations[84] - Rising prices of raw materials present a cost risk to the company's profitability[86] Shareholder and Equity Information - The total number of shares increased to 2,113,077,350, with 1,267,985,930 shares being newly issued or converted[110] - The company distributed a cash dividend of 0.5 RMB per share and issued 0.5 bonus shares for every share held, along with a capital reserve conversion of 1 share per share held[112] - The total number of shareholders reached 54,949 by the end of the reporting period[117] - Longxin Holdings Limited held 1,034,440,128 shares, representing 48.96% of the total shares, with 853,040,000 shares pledged[120] Financial Strategy and Investments - Research and development expenses increased by 35.92% to 141.9 million RMB, reflecting the company's commitment to innovation[49] - The company has made a capital increase of 23,000,000 RMB through the issuance of new shares, enhancing its capital structure[161] - The company has recognized a change in accounting policy that resulted in an adjustment of 10,338,387.12 RMB, affecting the financial statements[160] Accounting and Financial Reporting - The company prepares its financial statements based on the going concern principle, ensuring it has the ability to continue operations for at least 12 months from the reporting date[173] - The financial statements comply with the requirements of the Accounting Standards for Business Enterprises, reflecting the company's financial position, operating results, and cash flows accurately[174] - The company's functional currency for accounting purposes is Renminbi (RMB)[176]

Financial Performance - In Q1 2017, the company achieved operating revenue of RMB 2.25 billion, a year-on-year increase of 20.22%[12] - The net profit attributable to the parent company was RMB 230.88 million, up 17.50% year-on-year[12] - The net profit after deducting non-recurring gains and losses was RMB 225.65 million, reflecting an 18.04% increase compared to the previous year[12] - Basic earnings per share were RMB 0.2732, reflecting a year-on-year increase of 16.50%[8] - The company reported a total profit of CNY 74,542,726.46 for Q1 2017, compared to CNY 49,930,250.26 in Q1 2016, marking a 49.4% growth[35] - Total comprehensive income for Q1 2017 was CNY 63,282,233.26, compared to CNY 43,549,957.83 in Q1 2016, showing a growth of 45.3%[35] Revenue Breakdown - The engine business generated revenue of RMB 665 million, a growth of 18.97% year-on-year, with non-road engines increasing by 24.52%[12] - The motorcycle business reported revenue of RMB 960 million, up 18.95%, driven by a 21.84% increase in two-wheeler exports[12] - The company's revenue for Q1 2017 was approximately ¥2.25 billion, representing a 20.22% increase compared to ¥1.87 billion in the same period last year[19] - Total operating revenue for Q1 2017 was CNY 558,307,952.53, an increase of 17.2% compared to CNY 476,222,673.40 in the same period last year[34] Asset and Liability Changes - The company's total assets at the end of the reporting period were RMB 10.69 billion, an increase of 8.26% from the end of the previous year[8] - Total current assets reached approximately ¥5.50 billion, up from ¥4.80 billion at the beginning of the year[23] - Total assets increased to ¥10,692,303,405.79 from ¥9,876,174,908.02, marking a rise of 8.25%[25] - Current liabilities rose to ¥3,411,131,351.13, compared to ¥3,102,225,366.76, indicating an increase of 9.95%[24] - Total liabilities amounted to ¥3,827,814,333.15, up from ¥3,342,049,858.45, representing a growth of 14.51%[25] Cash Flow and Investments - Cash and cash equivalents increased by 33.35% to ¥2,702,455,571.03, driven by higher net cash inflows from operations and maturing financial products[18] - The net cash flow from operating activities was approximately ¥316.29 million, a 94.40% increase from ¥162.70 million, attributed to expanded operational efficiency[19] - Total cash inflow from investment activities reached CNY 3,475,706,352.99, significantly higher than CNY 1,278,650,402.15 in the prior period, marking an increase of 172.5%[38] - The net cash flow from investment activities was CNY 381,641,494.05, recovering from a negative cash flow of CNY -134,950,881.17 in the previous period[38] Acquisitions and Subsidiaries - The company completed the acquisition of 67% of Italy's Costruzioni Motori Diesel S.p.A., contributing RMB 57 million to revenue during the reporting period[13] - The company completed the acquisition of CMD, holding approximately 67% of its shares, with a total payment of €41.11 million[20] - The company established a wholly-owned subsidiary, Guangdong Longxin Locomotive Co., Ltd., which completed its registration on April 12, 2017[21] Operational Efficiency - Operating costs increased to approximately ¥1.78 billion, up 22.46% from ¥1.45 billion, primarily due to revenue growth[19] - The company incurred sales expenses of CNY 11,427,051.04 in Q1 2017, down from CNY 18,294,483.57 in the same period last year, a decrease of 37.5%[34] - The company reported a decrease in management expenses to CNY 46,473,251.74 from CNY 40,393,791.00 in the previous year, indicating a 15.5% increase in efficiency[34]

Financial Performance - The company's operating revenue for 2016 was approximately ¥8.48 billion, representing a 20.45% increase compared to ¥7.04 billion in 2015[22]. - The net profit attributable to shareholders for 2016 was approximately ¥865.59 million, an increase of 11.76% from ¥774.50 million in 2015[22]. - The net profit after deducting non-recurring gains and losses was approximately ¥793.32 million, reflecting a 29.62% increase from ¥612.04 million in 2015[22]. - The net cash flow from operating activities for 2016 was approximately ¥1.27 billion, up 24.43% from ¥1.02 billion in 2015[22]. - Total assets at the end of 2016 were approximately ¥9.88 billion, a 17.58% increase from ¥8.40 billion at the end of 2015[22]. - The company's net assets attributable to shareholders increased to approximately ¥6.08 billion, a rise of 17.88% from ¥5.16 billion at the end of 2015[22]. - Basic earnings per share increased by 8.33% to CNY 1.04 in 2016 compared to CNY 0.96 in 2015[23]. - Diluted earnings per share rose by 9.47% to CNY 1.04 in 2016 from CNY 0.95 in 2015[23]. - The gross profit margin for the company reached 20.96%, an increase of 0.5 percentage points year-on-year[66]. - The gross profit margin improved to 20.63%, an increase of 0.49 percentage points compared to the previous year[71]. Revenue Breakdown - The company's revenue from the generator set business increased by 5.7% year-on-year, contributing 18.0% to total revenue[34]. - The proportion of revenue from the four-wheeled low-speed electric vehicle business grew by 6.4% year-on-year, accounting for 12.6% of total revenue[34]. - The motorcycle business generated revenue of 3.397 billion CNY, a year-on-year increase of 2.54%, with a gross margin of 21.66%, up by 1.89 percentage points[55]. - The generator business reported revenue of 1.524 billion CNY, reflecting a growth of 24.33%, with a gross margin of 22.33%, down by 2.19 percentage points[57]. - The four-wheeled low-speed electric vehicle sales reached 58,600 units, a year-on-year increase of 60.11%, with revenue of 1.068 billion CNY, up by 34.68%[59]. Market Position and Competition - The company ranked second in the industry in terms of engine sales volume in 2016[36]. - The company ranked second in total motorcycle production and sales in the industry, while leading in motorcycle export revenue[38]. - The company maintained its position as the second largest in engine sales within the industry, with expectations to continue leading in the future[117]. - The motorcycle export revenue ranked first in the industry, with total production and sales volume rising from third to second place[121]. - The company is focusing on developing high-quality, intelligent, and customized products to meet the evolving market demands[123]. Research and Development - The company has developed a professional plant protection drone with a payload of 70 kg and an operational efficiency of over 200 acres per hour[45]. - The company holds 56 patents related to four-wheeled low-speed electric vehicles, including 3 invention patents[46]. - The company has applied for 8 patents in aviation engine technology, with 7 already authorized, showcasing its R&D capabilities[46]. - The company’s R&D expenditure increased by 41.66% to 257.94 million RMB, reflecting a commitment to innovation[68]. - Total R&D investment amounted to ¥257,936,048.56, representing 3.04% of operating revenue[78]. Strategic Initiatives - The company plans to distribute 5 shares for every 10 shares held and pay a cash dividend of ¥5 per 10 shares[3]. - The company is actively developing new technologies, including a range of generators and drones, with several projects currently in research[80]. - The company aims to expand its market share in small gasoline generators by enhancing its variable frequency generator technology and targeting high-cost performance products in the African market, particularly Nigeria[144]. - The company is committed to becoming a benchmark enterprise in the clean power sector, implementing a "one body, two wings" strategy to achieve coordinated development across its core and emerging businesses[137]. Risks and Challenges - The company has outlined potential risks in its future plans and strategies, advising investors to be aware of investment risks[4]. - The company faces risks from macroeconomic fluctuations, with potential impacts on market expansion and product sales due to global economic slowdowns and trade protectionism[150]. - Rising raw material prices pose a cost risk to the company, potentially affecting profitability[154]. - The company's reliance on major customers is significant, with the top five clients accounting for 22.41% of total revenue, indicating a risk of dependency[153]. Shareholder and Governance - The total cash dividend amount for 2016 is 422,580,590 RMB, representing 48.82% of the net profit attributable to ordinary shareholders[161]. - The company has maintained a cash dividend payout ratio of no less than 30% of the net profit attributable to shareholders since its listing in 2012, with cumulative dividends reaching CNY 748.81 million[185]. - The company has fulfilled its commitments regarding share lock-up periods and compliance with regulations[163]. - The company has made commitments regarding profit forecasts and compensation related to significant asset acquisitions, with a commitment period until December 31, 2018[163]. Acquisitions and Investments - The company completed the acquisition of CMD in Italy, with its aviation piston engine currently undergoing certification[34]. - The company completed the acquisition of 67% of CMD, entering the general aviation piston engine industry, with CMD achieving revenue of 29.86 million Euros and a net profit of 3.06 million Euros in 2016[64]. - The company allocated ¥7,217.15 million to the BMW large-displacement motorcycle project, with total investments reaching ¥12,734.63 million[92]. - The company invested ¥4,661.03 million in automotive parts projects during the reporting period, totaling ¥32,379.12 million to date[92]. Compliance and Transparency - The company has disclosed its commitment to the authenticity and completeness of the information provided in its asset acquisition reports[164]. - The company has maintained compliance with all court judgments and has no significant debts overdue[171]. - The audit firm, Xinyong Zhonghe, has been retained for 7 years with an audit fee of RMB 1,219,000[170]. - The company has issued a total of 87 announcements by the end of 2016, ensuring transparency in information disclosure[184].

Financial Performance - Total assets increased by 9.75% to CNY 9,206,867,461.88 compared to the end of the previous year[7] - Net assets attributable to shareholders rose by 13.52% to CNY 5,848,709,705.56 year-over-year[7] - Operating revenue for the first nine months increased by 23.40% to CNY 6,005,965,432.19 compared to the same period last year[7] - Net profit attributable to shareholders grew by 3.20% to CNY 653,082,235.59 year-over-year[7] - Net profit after deducting non-recurring gains and losses increased by 29.01% to CNY 624,600,606.32 compared to the previous year[7] - Cash flow from operating activities increased by 30.38% to CNY 655,230,488.31 for the first nine months[7] - The weighted average return on equity decreased by 2.96 percentage points to 11.90%[7] - Basic earnings per share decreased by 1.50% to CNY 0.7793[7] - Diluted earnings per share decreased by 1.04% to CNY 0.7790[7] Shareholder Information - The total number of shareholders at the end of the reporting period was 48,791[11] - The company has no preferred shareholders as of the reporting period[13] - The total number of preferred shareholders and the top ten preferred shareholders is not applicable[13] Receivables and Investments - Accounts receivable increased by 32.56% to CNY 1,236,917,750.43 from CNY 933,086,547.87 due to domestic sales settlement methods and export business credit terms[13] - Other receivables rose by 73.45% to CNY 132,311,693.99 from CNY 76,281,553.35, primarily due to an increase in export tax refunds[13] - Investment properties increased significantly by 1,955.23% to CNY 385,034,436.90 from CNY 18,734,366.64, attributed to a change in measurement mode from cost to fair value[13] - Development expenditures grew by 67.72% to CNY 44,163,202.95 from CNY 26,330,734.24, reflecting ongoing project investments[13] Borrowings and Cash Flow - Short-term borrowings decreased by 65.34% to CNY 19,669,011.38 from CNY 56,750,000.00 due to repayment of maturing loans[13] - The company reported a significant increase in other receivables, indicating improved cash flow management[13] - The company’s cash flow from operating activities was RMB 655 million, up 30.38% year-on-year, attributed to improved operational efficiency and increased profits[15] Strategic Developments - The company is actively advancing its drone project, with significant progress in testing and optimization of the professional-grade agricultural drone (XV-2)[18] - The company plans to conduct durability flight tests for multiple drones and prepare for mass production following successful testing[18] - The management team has emphasized the importance of maintaining a competitive edge in the industry through strategic acquisitions[25] - The overall strategy includes leveraging new technologies and products to drive future growth[25] Land and Construction - As of the report date, the company has 3.164 acres of land (0.20% of total land) that has not been fully processed for construction use[28] - The company plans to apply for construction land indicators by June 30, 2017, to resolve historical land use issues[28] - The company is in the process of resolving land ownership issues with relevant authorities, aiming for completion by mid-2017[28] Employee Stock Ownership - The second phase of the employee stock ownership plan involved the purchase of 1,308,200 shares at an average price of approximately RMB 17.35 per share, totaling RMB 22,699,073.9, representing 0.156% of the company's total shares[19] - A total of 6,838,166 stock options were exercised by 313 participants, with 5,876,216 from the initial grant and 961,950 from the reserved portion, resulting in an increase in share capital by the same amount[19] - The company has promised to compensate employees for any shortfall in the employee stock ownership plan through cash payments[29] Market Expansion and Compliance - The company is actively pursuing market expansion and new product development strategies as part of its long-term growth plan[29] - The company is focused on resolving related party transactions to ensure transparency and compliance[26] - The company is committed to providing detailed disclosures to shareholders and regulatory bodies regarding the transaction[24]