2023 年第一季度报告 证券代码：603789 证券简称：星光农机 星光农机股份有限公司 2023 年第一季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比上年同期增减 | | --- | --- | --- | | | | 变动幅度(%) | | 营业收入 | 52,928,344.86 | -20.21 | | 归属于上市公司股东的净利润 | -1,102,310.85 | 不适用 | | 归属于上市公司股东的扣除非经常性 | -3,932,776.29 | 不适用 | | 损益的净利润 | | ...

Financial Performance - The company's operating revenue for the first half of 2022 was ¥179,064,822.15, a decrease of 35.87% compared to ¥279,211,232.99 in the same period last year[18]. - The net profit attributable to shareholders for the first half of 2022 was -¥23,102,306.87, improving from -¥45,372,124.44 in the previous year[18]. - The net cash flow from operating activities increased significantly to ¥53,588,318.56, compared to ¥3,583,737.68 in the same period last year, representing a growth of 1,395.32%[18]. - The total assets at the end of the reporting period were ¥1,294,129,508.16, down 2.83% from ¥1,331,816,333.24 at the end of the previous year[18]. - The net assets attributable to shareholders decreased by 2.28% to ¥604,059,172.43 from ¥618,137,988.97 at the end of the previous year[18]. - The basic earnings per share for the first half of 2022 was -¥0.0889, an improvement from -¥0.1745 in the same period last year[18]. - The weighted average return on net assets was -3.78%, an improvement from -5.95% in the previous year[18]. - The company reported a net profit after deducting non-recurring gains and losses of -¥28,680,284.51, compared to -¥48,255,584.58 in the same period last year[18]. - The company reported a significant increase in long-term borrowings, rising by 37.61% to ¥34,020,833.33 from ¥24,722,916.66[54]. - The company reported a net loss of CNY 267,423,821.14, compared to a loss of CNY 244,415,665.37 in the previous period[113]. Market and Product Development - The company continues to focus on the development and application of modern agricultural equipment, expanding its product range to cover six major crop types and various agricultural operations[23]. - The agricultural machinery market in China is expected to grow rapidly, with a target mechanization level of 75% by the end of the "14th Five-Year Plan" period[28]. - The company aims to enhance its core competitiveness by improving research and development capabilities, product quality, and expanding both domestic and international markets[29]. - The company plans to adjust its product structure to meet the increasing demand for large-scale, high-end, and intelligent agricultural machinery[28]. - The company is focused on developing smart agricultural products to align with the growing trend of intelligent agriculture in China[28]. - The company has expanded its product range to cover six major crops, including rice, corn, wheat, cotton, rapeseed, and peanuts, enhancing its core competitiveness[30]. - New product development efforts included the launch of a seedling cultivation production line and upgrades to existing products, aiming to meet market demand for advanced agricultural machinery[44]. Operational Efficiency and Cost Management - The company implemented cost reduction and efficiency enhancement measures, resulting in a 44.07% decrease in selling expenses and a 29.72% decrease in management expenses, totaling a reduction of 15.20 million yuan[43]. - Operating costs decreased by 33.71% to ¥162,451,169.49 from ¥245,067,756.44, attributed to a decline in sales volume of the main products[51]. - Research and development expenses decreased by 8.62% to ¥13,320,370.98, primarily due to slowed progress caused by the pandemic[51]. - The company has implemented a standardized system for parts production, enhancing supply chain management and operational efficiency[34]. - The company prioritizes quality management, ensuring that every production stage meets customer requirements, which has led to high reliability and positive user feedback[35]. Risks and Challenges - The company faces risks related to a single revenue structure, as the combine harvester remains the largest source of income, with potential declines in demand if market saturation occurs[59]. - Increased competition in the agricultural machinery sector poses a risk, as more domestic and foreign companies enter the market, leading to potential price wars[60]. - Future agricultural machinery support policies may shift, which could adversely affect the company's ability to secure subsidies for existing and new products[61]. - The COVID-19 pandemic has disrupted supply chains and dealer operations, negatively impacting production and sales, with potential future outbreaks posing ongoing risks[69]. - There is a significant demand for various talents, including management and technical personnel, and a shortage of core talent may hinder the company's strategic development[68]. Legal and Compliance - The company is involved in major litigation concerning patent rights, with claims against two defendants for the infringement of a specific patent (ZL201410082067.4) related to harvesting machinery[90]. - The company is actively pursuing legal actions to protect its intellectual property rights and has plans to initiate further administrative litigation if necessary[90]. - The company has not reported any violations regarding guarantees during the reporting period[89]. - The company has established independent financial departments and accounting systems to ensure financial independence[87]. - The company has not engaged in any major lawsuits or arbitration matters that have not been disclosed in temporary announcements[89]. Shareholder and Equity Information - The total number of ordinary shareholders as of the end of the reporting period is 23,908[102]. - The largest shareholder, Huzhou New Home Investment Management Co., Ltd., holds 46,738,250 shares, accounting for 17.98% of the total shares[104]. - The top ten shareholders collectively hold a significant portion of the company's shares, with the largest three shareholders holding approximately 44.1% of the total shares[104]. - The company has not disclosed any significant changes in share capital structure during the reporting period[101]. - The company has not reported any violations or penalties against its directors, supervisors, or senior management during the reporting period[94]. Sustainability and Social Responsibility - The company has been actively involved in poverty alleviation and rural revitalization efforts since 2011, providing scholarships and supporting local infrastructure improvements[83]. - The company aims to build a standardized production system and implement digital agriculture systems to enhance the quality of grain and oil products[84]. - The company is committed to sustainable agricultural practices, integrating primary, secondary, and tertiary industries to promote agricultural efficiency and farmer income[84]. - The company developed an automated production line for agricultural waste fertilizer stations, promoting a "zero-emission" ecological circular economy model[81]. - The company introduced a pond recirculating aquaculture system that achieves zero wastewater discharge and minimizes ecological impact through intelligent management[82]. Financial Reporting and Accounting Policies - The financial statements are prepared based on the assumption of going concern, indicating no significant issues affecting the company's ability to continue operations for at least 12 months from the reporting date[144]. - The company adheres to the accounting standards, ensuring that the financial statements accurately reflect its financial position and operating results[146]. - The company recognizes foreign currency transactions at the spot exchange rate on the transaction date and translates monetary items at the spot exchange rate on the balance sheet date, with exchange differences recognized in current profit or loss[159]. - The company measures expected credit losses for financial assets at amortized cost and debt instruments measured at fair value with changes recognized in other comprehensive income, considering all reasonable and supportable information[165]. - The company assesses assets for impairment at the balance sheet date, with goodwill and indefinite-lived intangible assets tested for impairment annually[198].

Financial Performance - The company's operating revenue for Q1 2022 was ¥66,338,304.81, representing a decrease of 42.83% compared to the same period last year[6]. - The net profit attributable to shareholders was a loss of ¥10,958,613.18, with a significant impact from reduced sales and bad debt provisions[6][9]. - Total operating revenue for Q1 2022 was CNY 66,338,304.81, a decrease of 42.8% compared to CNY 116,029,329.49 in Q1 2021[19]. - Net loss for Q1 2022 was CNY 7,908,997.16, compared to a net loss of CNY 35,886,176.42 in Q1 2021, representing a 77.9% improvement[20]. - In Q1 2022, the company's total comprehensive income attributable to the parent company was -10,958,613.18 RMB, compared to -35,444,800.12 RMB in Q1 2021, showing an improvement[21]. - The basic and diluted earnings per share for Q1 2022 were both -0.0421 RMB, an improvement from -0.1363 RMB in Q1 2021[21]. Cash Flow - The net cash flow from operating activities increased by 85.42% to ¥30,054,163.59, primarily due to a decrease in payments for goods[6][9]. - The net cash flow from operating activities for Q1 2022 was 30,054,163.59 RMB, up from 16,208,516.80 RMB in Q1 2021, indicating a positive trend in operational efficiency[24]. - The total cash inflow from operating activities in Q1 2022 was 107,423,615.42 RMB, significantly lower than 214,664,089.22 RMB in Q1 2021, indicating a decline in cash generation[24]. - The net cash flow from investing activities in Q1 2022 was -2,023,158.21 RMB, an improvement from -11,449,459.70 RMB in Q1 2021, reflecting better investment management[24]. - The net cash flow from financing activities was -69,063,112.72 RMB in Q1 2022, compared to -9,828,047.28 RMB in Q1 2021, indicating increased cash outflows for financing[25]. - The company reported a total cash outflow from financing activities of 99,288,588.61 RMB in Q1 2022, compared to 14,959,732.71 RMB in Q1 2021, indicating a significant increase in financing costs[25]. - The company's cash and cash equivalents at the end of Q1 2022 were 38,885,516.43 RMB, down from 48,242,811.17 RMB at the end of Q1 2021[25]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,312,785,360.82, down 1.43% from the previous year[7]. - The company's total assets as of March 31, 2022, were CNY 1,312,785,360.82, slightly down from CNY 1,331,816,333.24 at the end of 2021[16]. - Current assets totaled CNY 754,167,136.79, a minor decrease from CNY 759,873,088.20 at the end of 2021[15]. - The company's total liabilities decreased to CNY 657,456,435.97 from CNY 668,892,938.97 at the end of 2021[16]. - The company's equity attributable to shareholders decreased to CNY 609,592,851.37 from CNY 618,137,988.97 at the end of 2021[16]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 26,487[10]. - The top shareholder, Huzhou New Home Investment Management Co., Ltd., held 17.98% of the shares, totaling 46,738,250 shares[11]. Inventory and Costs - Total operating costs for Q1 2022 were CNY 85,535,785.90, down 36.7% from CNY 135,045,724.09 in Q1 2021[20]. - The company reported a significant increase in inventory, which rose to CNY 184,783,183.08 from CNY 149,084,192.76 at the end of 2021, reflecting potential overstocking[15]. Other Information - The company did not report any new product developments or market expansion strategies during this quarter[13]. - There were no significant mergers or acquisitions announced in the reporting period[13]. - The company received tax refunds of 5,388,974.36 RMB in Q1 2022, compared to 4,997,134.36 RMB in Q1 2021, showing a slight increase in tax recovery[24]. - Accounts receivable stood at CNY 386,309,545.49, a decrease from CNY 409,785,975.99 at the end of 2021[15].

Financial Performance - In 2021, the company's operating revenue was CNY 401.85 million, an increase of 61.76% compared to CNY 248.42 million in 2020[22] - The net profit attributable to shareholders was a loss of CNY 185.46 million, an improvement from a loss of CNY 277.47 million in 2020[22] - The net cash flow from operating activities was CNY 25.17 million, a significant recovery from a negative cash flow of CNY 83.86 million in 2020[22] - The total assets decreased by 4.95% to CNY 1.33 billion at the end of 2021, down from CNY 1.40 billion at the end of 2020[22] - The net assets attributable to shareholders decreased by 21.36% to CNY 618.14 million at the end of 2021, compared to CNY 786.08 million at the end of 2020[22] - The basic earnings per share for 2021 was -CNY 0.7133, an improvement from -CNY 1.0672 in 2020[23] - The company did not declare any profit distribution for 2021 due to a net loss and negative retained earnings[5] Revenue Growth and Sales Performance - In 2021, the company achieved operating revenue of 401.8473 million yuan, an increase of 61.76% compared to the previous year, primarily driven by increased product demand due to the improvement of the domestic pandemic situation[30] - The sales revenue from the rice and wheat combine harvester business reached 240.2774 million yuan, a year-on-year growth of 107.61%, with total unit sales increasing by 90.85% to 3,170 units[30] - The company’s sales revenue from the baler business was 61.8431 million yuan, up 45.37% from 42.5428 million yuan in the previous year[31] - The company’s emerging business segment generated revenue of 90.1339 million yuan, a 9.04% increase from 82.6606 million yuan in the previous year[32] - The overseas market for the rice and wheat combine harvester saw a revenue increase of 25.88%, contributing to the overall growth in sales[30] Operational Challenges - The company faced high fixed costs due to depreciation and salaries related to imported advanced equipment, impacting profitability despite increased sales[33] - The company’s net cash flow from operating activities was negative in Q2 and Q4 of 2021, indicating challenges in cash generation during those periods[25] - The sales volume of cotton pickers in 2021 was only 14 units, a decline of 69.57% compared to 46 units in 2020, impacting overall gross margin[36] Strategic Initiatives and Future Plans - The company is focusing on future growth strategies based on current market conditions and internal assessments, although specific commitments are not guaranteed[6] - The company plans to continue developing new products and expanding its market presence through acquisitions and research and development efforts[32] - The company aims to drive industry transformation through technological innovation, aligning with national agricultural modernization goals[87] - The company plans to enhance its agricultural machinery offerings, focusing on large horsepower and intelligent machinery development[85] - The company will implement a "cost reduction and efficiency increase" initiative, linking departmental performance assessments to this core requirement[94] Research and Development - Research and development expenses increased by 10.83% to CNY 32.27 million, driven by an increase in R&D projects[56] - The company has received multiple national and provincial technology achievement awards, highlighting its commitment to innovation and R&D[51] - The company is investing 200 million in R&D for new technologies aimed at enhancing product efficiency[119] - The company has established the Xingguang Electromechanical Research Institute to focus on the R&D of green smart agricultural machinery and small harvesting robots[88] Market Expansion and Customer Engagement - The company is focused on enhancing customer satisfaction through continuous product improvement based on user feedback and experience[50] - The company aims to expand its domestic and international market presence, leveraging digital platforms for marketing and focusing on major clients[97] - The company has established a nationwide distribution and service network with 245 dealers covering 25 provinces and regions as of December 31, 2021[56] Legal and Compliance Issues - The company has initiated a lawsuit against two companies for patent infringement, reflecting its commitment to intellectual property protection[39] - The company has been involved in significant litigation regarding patent infringement, with claims for economic damages totaling RMB 20,350 million and RMB 13,566 million in separate cases[175][176] - The company is actively managing its legal risks and has taken steps to mitigate potential financial impacts from ongoing litigation[175][176] Governance and Management - The company has made adjustments to its management team, including the appointment of a new chairman and general manager, to enhance operational efficiency[40] - The board of directors is composed of specialized committees including strategy and investment, audit, nomination, and compensation, all operating independently and diligently[115] - The company has established performance evaluation standards and incentive mechanisms for directors, supervisors, and senior management, ensuring transparency in the hiring process[115] Financial Health and Risks - The company faces risks from a single revenue structure, as the combine harvester remains the largest income source, with potential declines in performance if demand saturates[103] - Increased competition in the agricultural machinery industry poses risks, with many competitors entering the market, potentially leading to price wars and impacting future growth[104] - Fluctuations in raw material prices, particularly steel, could increase production costs and affect profitability, as steel prices have shown volatility since 2021[108] Corporate Social Responsibility - The company has provided targeted donations of 200,000 yuan to 40 impoverished college students during the reporting period, supporting education and community development[164] - The company focuses on sustainable and replicable modern agricultural models to enhance agricultural efficiency and farmers' income, aligning with national rural revitalization strategies[165] Environmental Commitment - The company has not experienced any environmental pollution incidents during its operations as of the end of 2021, having passed various environmental management certifications[160] - The company has implemented a solar power generation project on the rooftops of new workshops to enhance efficiency and reduce energy consumption[161]

Financial Performance - The company's operating revenue for Q3 2021 was ¥118,914,322.01, representing a year-on-year increase of 42.17%[6] - The net profit attributable to shareholders was a loss of ¥27,084,774.92, with a year-to-date loss of ¥72,456,899.36[6] - The basic and diluted earnings per share for the quarter were both -¥0.1042, compared to -¥0.2787 for the same period last year[7] - Total revenue for the first three quarters of 2021 reached CNY 398,125,555, a significant increase from CNY 221,511,163 in the same period of 2020, representing an increase of approximately 79.9%[23] - The company's net loss for the first three quarters of 2021 was CNY -131,754,839, compared to a loss of CNY -88,199,932 in the same period of 2020, reflecting a worsening of approximately 49.3%[21] - The net profit for Q3 2021 was -68,445,751.88 RMB, compared to -85,088,206.07 RMB in Q3 2020, showing an improvement of approximately 19.6% year-over-year[24] - Operating profit for Q3 2021 was -72,281,005.38 RMB, an improvement from -93,537,226.78 RMB in the same quarter last year, indicating a reduction in losses[24] - Total comprehensive income for Q3 2021 was -68,445,751.88 RMB, compared to -85,088,206.07 RMB in Q3 2020, indicating a year-over-year improvement[25] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,436,691,465.28, an increase of 2.54% from the end of the previous year[7] - Current assets totaled CNY 879,566,708 as of September 30, 2021, compared to CNY 820,008,629 at the end of 2020, marking an increase of about 7.2%[20] - The company's total assets amounted to CNY 1,436,691,465.28 as of September 30, 2021, compared to CNY 1,401,112,773.67 at the end of 2020, showing a growth of approximately 2.5%[22] - The total liabilities increased to CNY 649,761,243.85 from CNY 524,831,501.85, representing an increase of about 23.8%[21] - Total current liabilities were 453,828,919.28, with accounts payable at 88,334,793.80[31] - Total liabilities amounted to 524,831,501.85, showing an increase of 10,725,984.32[31] Cash Flow - The cash flow from operating activities for the year-to-date was ¥32,460,945.24, reflecting improved collection of sales payments compared to the previous year[6] - Cash flow from operating activities for the first nine months of 2021 was 32,460,945.24 RMB, a significant recovery from -71,378,556.54 RMB in the same period of 2020[27] - The company reported a net cash outflow from investing activities of -16,409,730.03 RMB for the first nine months of 2021, compared to -53,886,870.00 RMB in the same period of 2020, indicating a reduction in cash outflow[27] - Cash and cash equivalents at the end of Q3 2021 stood at 40,498,143.23 RMB, compared to 19,759,651.64 RMB at the end of Q3 2020, reflecting an increase of approximately 104.1%[28] Shareholder Information - The total number of common shareholders at the end of the reporting period is 19,528[12] - The largest shareholder, Huzhou New Home Investment Management Co., Ltd., holds 46,738,250 shares, accounting for 17.98% of total shares[12] - Zhejiang Green Pulse Yicheng Technology Development Co., Ltd. holds 39,000,000 shares, representing 15.00% of total shares[12] Investments and Expenses - Long-term equity investments increased by 98.48% year-to-date, mainly due to the exclusion of a former subsidiary from the consolidated financial statements[10] - Research and development expenses for the first three quarters of 2021 were CNY 19,870,382.75, compared to CNY 16,409,840.45 in 2020, indicating an increase of about 21.0%[23] - The company reported a significant increase in sales expenses, up 76.94% year-to-date, primarily due to market expansion and after-sales service costs[10] Legal Matters - The company is involved in multiple patent infringement lawsuits, seeking damages of RMB 203.5 million and RMB 135.66 million in two separate cases against Wode Agricultural Machinery[16] Future Plans - The company approved a capital increase of RMB 75 million for its subsidiary, Star Agricultural Development Co., Ltd., which will hold 46.80% of the subsidiary after the increase[14] - The company plans to increase the expected total amount of daily related transactions with Star Agricultural to RMB 200 million for 2021[15] - Zhejiang Green Pulse plans to increase its stake in the company with an investment of no less than RMB 50 million and no more than RMB 100 million within six months starting from September 29, 2021[17] - The company is focusing on market expansion and new product development strategies to enhance future growth[32]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 279,211,232.99, representing a 102.52% increase compared to CNY 137,867,032.25 in the same period last year[21]. - The net profit attributable to shareholders of the listed company was a loss of CNY 45,372,124.44, an improvement from a loss of CNY 51,142,859.71 in the previous year[21]. - The net cash flow from operating activities was CNY 3,583,737.68, a significant recovery from a negative cash flow of CNY -115,389,780.78 in the same period last year[21]. - The total assets at the end of the reporting period were CNY 1,444,116,276.28, an increase of 3.07% from CNY 1,401,112,773.67 at the end of the previous year[21]. - The net assets attributable to shareholders of the listed company decreased by 5.81% to CNY 740,379,684.56 from CNY 786,075,146.77 at the end of the previous year[21]. - The basic earnings per share for the first half of 2021 was -CNY 0.1745, an improvement from -CNY 0.1967 in the same period last year[22]. - The weighted average return on net assets was -5.95%, compared to -5.02% in the previous year[22]. - The company reported a non-recurring profit of RMB 2,883,460.14, primarily from government subsidies and other non-operating income[23]. - The company achieved a revenue of 279.21 million yuan in the first half of 2021, representing a 102.52% increase compared to the same period last year[40]. - The net profit attributable to shareholders was -45.37 million yuan, an improvement of 5.77 million yuan compared to the previous year, primarily due to effective pandemic control and supportive national policies[44]. Operational Highlights - The company is engaged in the research, manufacturing, sales, and service of agricultural machinery, covering six major crop types and various operational processes[26]. - The company’s production model combines self-research, self-manufacturing, and outsourcing, ensuring high value-added core components are produced in-house[27]. - The mechanization rate for major crops in China has exceeded 70%, but there are still significant gaps in agricultural machinery supply in hilly areas and for livestock farming[29]. - The government has introduced policies to enhance agricultural machinery service levels, including continued implementation of purchase subsidies[30]. - The company aims to enhance its core competitiveness by improving product quality, expanding domestic and international markets, and focusing on high-end intelligent products[32]. - The company plans to target high-end intelligent agricultural machinery and expand into underdeveloped areas such as livestock and facility agriculture[31]. - The company’s strategy includes producing stylish, comfortable, and reliable agricultural machinery to meet user demands and leverage product and technology advantages[31]. - The company has established a comprehensive sales system based on market demand and national policies, ensuring rapid market response[28]. - The company has expanded its product range to cover six major crops, including rice, corn, wheat, cotton, rapeseed, and peanuts, enhancing its competitive edge in the market[33]. - The company has established a comprehensive service network across 21 provinces and regions in China, with over 220 dealers, and exports to multiple countries including the Philippines and Indonesia[38]. Research and Development - The company has a strong focus on independent research and development, holding multiple patents and participating in the formulation of national standards[35]. - The company has implemented a standardized system for parts production, enhancing supply chain management and production efficiency[36]. - The company prioritizes quality management, adopting a zero-tolerance policy for quality issues and conducting regular inspections[37]. - The company is actively building strategic alliances with dealers to enhance market share and brand recognition[38]. - The company has developed new products in emerging industries, but their performance and reliability are still under market evaluation, posing risks to future growth[67]. - The company plans to enhance product development focusing on high-tech, competitive products with independent intellectual property rights, particularly in balers, rotary tillers, and cotton harvesters[45]. - The company has developed a unique corporate culture that emphasizes innovation and customer value, contributing to sustainable growth[39]. - The company has implemented an automated production line for agricultural waste recycling, focusing on zero emissions and resource utilization[79]. - The company has developed a dry toilet and human waste harmless treatment system aimed at achieving "waterless, odorless, harmless, and no discharge" technology requirements, converting human waste into high-quality organic fertilizer to support agricultural development[80]. - The company is focused on green, intelligent, and efficient agriculture, implementing standardized production systems and fully mechanized agricultural operations to enhance the quality of grain and oil products[82]. Financial Position and Risks - Operating costs rose by 86.00% to ¥245,067,756.44 from ¥131,754,043.01 year-on-year[52]. - Research and development expenses increased by 46.74% to ¥14,577,310.94, up from ¥9,934,422.23 in the previous year[52]. - The company’s cash and cash equivalents decreased by 38.28% to ¥56,210,881.59 from ¥91,071,801.35 year-on-year[54]. - Accounts payable surged by 95.20% to ¥172,427,140.78 compared to ¥88,334,793.80 in the previous year[54]. - The company faces risks related to a single revenue structure, as the combine harvester remains the largest source of income[59]. - Increased competition in the agricultural machinery market poses a risk to future performance due to price wars and market share battles[60]. - Steel prices have risen due to global supply mismatches, which could increase production costs and impact profitability if the trend continues[64]. - The ongoing COVID-19 pandemic presents uncertainties that could adversely affect the company's overseas revenue and overall performance[68]. - The company has restricted assets totaling ¥196,392,980.83, including bank acceptance bill guarantees and fixed asset mortgages[56]. - Long-term borrowings increased by 36.96% to ¥54,866,666.66 from ¥40,060,833.33 year-on-year[54]. Corporate Governance and Compliance - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties[7]. - The company has not proposed any profit distribution plan or capital reserve transfer to increase share capital for the reporting period[6]. - The company has committed to maintaining independence from Xingguang Agricultural Machinery and will not engage in any business that constitutes competition with it[86]. - The company will continue to manage related transactions with Xingguang Agricultural Machinery in a standardized manner, ensuring fair market pricing and compliance with legal disclosure obligations[86]. - The company has not reported any violations or guarantees during the reporting period[90]. - The company has conducted self-inspection and rectification following the regulatory measures imposed by the CSRC[94]. - The company is involved in a significant lawsuit regarding patent infringement, with a claim amounting to RMB 30 million[92]. - The company has initiated legal proceedings against Jiangsu Wode Agricultural Machinery Co., Ltd. for patent infringement, seeking to halt the production and sales of infringing products[92]. - The company has received regulatory measures from the China Securities Regulatory Commission, requiring corrective actions and a report on compliance[94]. - The company has no outstanding loans, guarantees, or any agreements that could lead to conflicts of interest[88]. Shareholder Information - The company has 18,319 ordinary shareholders as of the end of the reporting period[103]. - The top ten shareholders include Zhejiang Green Pulse Yicheng Technology Development Co., Ltd. as the controlling shareholder, holding 39,000,000 shares (15.00%) and Huzhou New Home Investment Management Co., Ltd. with 46,738,250 shares (17.98%)[105]. - The actual controller of the company, Qian Juhua, holds 30,000,000 shares of the company and has a 40% stake in Huzhou New Home Investment Management Co., which holds 65,688,000 shares of the company[86]. - The company holds 65,688,000 shares, with the actual controller owning 24,312,000 shares directly[87]. - The actual controller has a 60% stake in Huzhou New Home Investment Management Co., Ltd., which holds 40% of the company's shares[87]. - Any transfer of shares by the actual controller during their tenure will not exceed 25% of their total holdings[88]. - After leaving the company, the actual controller will not transfer shares for six months and will limit sales to 50% of their holdings in the following twelve months[88]. Special Reserves and Capital Management - The company reported a capital reserve increase of RMB 43,538,436.16 from surplus reserves and undistributed profits[89]. - The company extracted a total of CNY 921,236,000 for special reserves during the reporting period[134]. - The total amount of special reserves at the end of the reporting period was CNY 1,407,480,000[134]. - The company utilized CNY 560,788,000 from special reserves during the reporting period[134]. - The company reported a decrease in retained earnings of CNY 54,351,825.84[138]. - The total owner's equity at the end of the period was 1,019,502,280.00, with a registered capital of 260,000,000.00[141]. Accounting Policies and Financial Instruments - The preparation of consolidated financial statements is based on the financial statements of the parent company and its subsidiaries, in accordance with relevant accounting standards[156]. - The company classifies financial assets into three categories: amortized cost, fair value through other comprehensive income, and fair value through profit or loss[162]. - Financial assets measured at amortized cost are aimed at collecting contractual cash flows, with gains or losses recognized in profit or loss[162]. - The company uses the expected credit loss model to recognize impairment for financial assets measured at amortized cost and fair value through other comprehensive income[165]. - The company recognizes impairment losses for held-for-sale assets when the carrying amount exceeds the adjusted net realizable value[177]. - The company will assess impairment for investments in subsidiaries, joint ventures, and associates when there is objective evidence of impairment, recognizing the corresponding impairment provision[183]. - Fixed assets are recorded at actual cost and depreciated using the straight-line method over their useful lives, with specific depreciation rates outlined for different asset categories[186]. - Borrowing costs directly attributable to the acquisition or construction of qualifying assets can be capitalized, while other borrowing costs are recognized as expenses in the current period[190].

Financial Performance - The company's operating revenue for 2020 was ¥248,422,596.47, a decrease of 64.79% compared to ¥705,480,825.16 in 2019[21]. - The net profit attributable to shareholders of the listed company was -¥290,998,444.37, compared to -¥7,909,730.12 in the previous year, indicating a significant decline[21]. - The basic earnings per share for 2020 was -¥1.0672, a decrease of 2,395.05% from ¥0.0465 in 2019[23]. - The weighted average return on net assets was -30.60%, down 31.77 percentage points from 1.17% in 2019[23]. - The company's net cash flow from operating activities was -¥83,864,050.36, showing a slight improvement from -¥102,433,199.30 in the previous year[21]. - The total net assets attributable to shareholders of the listed company decreased by 24.70% to ¥786,075,146.77 from ¥1,043,897,022.62 in 2019[21]. - The company did not declare any profit distribution for the year due to a loss in 2020 and negative retained earnings[5]. - The company reported a significant decline in revenue, achieving 248.42 million RMB in 2020, a decrease of 64.79% compared to 2019[72]. - Main business revenue was 240.94 million RMB, down 65.61% year-on-year, while operating costs decreased by 52.30% to 252.08 million RMB[72]. - The company reported a net profit attributable to shareholders of -277.47 million yuan, indicating a significant loss compared to the previous year[60]. Operational Insights - There were no significant operational risks reported that could materially affect the company's business during the reporting period[7]. - The company has not engaged in any non-operational fund occupation by controlling shareholders or related parties[7]. - The management's future outlook is based on current micro-environment factors and macroeconomic policies, but does not constitute a performance commitment[6]. - The company has established a nationwide distribution and service network with 220 dealers covering 22 provinces and municipalities as of December 31, 2020[52]. - The company emphasizes quality management and has implemented a standardized system for parts production to ensure consistency and efficiency[50]. - The company has a strong supply chain management capability and production organization coordination, which supports its operational efficiency[49]. Product Development and Innovation - The company focuses on the research, manufacturing, and sales of agricultural machinery, maintaining a comprehensive mechanization industry chain[30]. - The product lineup includes various agricultural machines such as tractors, combine harvesters, and post-harvest processing equipment[30]. - The company aims to provide complete mechanization solutions for major crops, enhancing operational efficiency and customer service[30]. - The company emphasizes innovation and technical support in its product offerings to meet market demands[30]. - The company has established a full mechanization industry chain covering six major crop types, ensuring a broad market presence[30]. - The company emphasizes the importance of R&D in developing advanced agricultural machinery to meet diverse farming needs[32]. - The company reported a significant increase in operational efficiency, with a 21% improvement in work speed due to integrated electric control operations[35]. - The company has developed a new fish farming facility that promotes ecological farming with zero wastewater discharge[33]. - The self-propelled rotary tiller is designed for high adaptability and efficiency in various soil conditions, enhancing operational effectiveness[32]. - The company introduced a modular design for its vertical cultivation equipment, allowing for customization based on client needs and maximizing production efficiency in limited spaces[35]. Market and Sales Performance - The revenue from the rice and wheat combine harvester business was 115.74 million yuan, down 67.97% year-on-year, with sales volume dropping by 62.57%[57]. - The overseas market revenue for the rice and wheat combine harvester decreased by 85.35%, significantly impacting the overall sales performance[57]. - The sales revenue from the baler business fell by 72.45% to 42.54 million yuan due to reduced subsidies and market demand[58]. - Revenue from emerging businesses, including tractors and cotton pickers, decreased by 55.29% to 82.66 million yuan, with various factors affecting sales performance[59]. - Sales of combine harvesters reached 1,661 units, down 62.57% year-on-year, primarily due to the impact of the pandemic on the agricultural machinery industry's peak season[79]. - The company sold 818 units of balers, a decrease of 49.82%, attributed to reduced government subsidies leading to lower demand[79]. Strategic Initiatives - The company is planning a private placement to enhance capital strength and optimize the capital structure, aiming to improve asset quality and debt repayment capacity[67]. - The company aims to leverage new strategic partnerships and investments to enhance market expansion and sustainable development[69]. - The company is actively responding to government policies aimed at enhancing agricultural mechanization, positioning itself for future growth in high-end and intelligent agricultural equipment[42]. - The company plans to enhance the domestic production level of agricultural machinery and increase R&D in high-end agricultural machinery during the 14th Five-Year Plan period[99]. - The company intends to improve its operational efficiency by reducing fixed cost allocation and increasing production capacity utilization[103]. Governance and Compliance - The company has committed to maintaining independent financial decision-making and tax compliance for Xingguang Agricultural Machinery[130]. - The company guarantees the independence of the corporate governance structure and the exercise of powers by shareholders and management[130]. - The company will ensure that any related transactions do not harm the interests of Xingguang Agricultural Machinery and its minority shareholders[130]. - The company has established a social responsibility management committee to integrate social responsibility into strategic management, focusing on safety, environmental protection, and energy management[149]. - The company has implemented advanced production processes and environmental management systems, achieving ISO9001, ISO14000, and OHSAS18000 certifications, with no environmental pollution incidents reported by the end of 2020[150]. Human Resources and Talent Management - The company emphasizes employee training and development, integrating corporate strategic goals with employee career needs[200]. - The company has a structured compensation system divided into four categories: annual salary, piece-rate, position-based, and agreed salary structures[199]. - The total compensation for all directors, supervisors, and senior management during the reporting period amounted to 3.1346 million yuan[195]. - The number of employees in the parent company is 350, while the total number of employees in the parent company and major subsidiaries is 569[198]. - The company has implemented a comprehensive assessment method for employee performance linked to compensation distribution[199]. Future Outlook - The company provided a positive outlook for 2021, projecting a revenue growth of 20% based on current market trends and user acquisition strategies[193]. - New product launches are expected to contribute an additional 200 million in revenue in 2021, focusing on innovative technology solutions[194]. - The company is exploring partnerships with key industry players to leverage synergies and expand its service offerings[192].

Financial Performance - The company's operating revenue for 2020 was ¥248,422,596.47, a decrease of 64.79% compared to ¥705,480,825.16 in 2019[21]. - The net profit attributable to shareholders of the listed company was -¥290,998,444.37, compared to -¥7,909,730.12 in 2019, indicating a significant decline[21]. - The basic earnings per share for 2020 was -¥1.0672, a decrease of 2,395.05% from ¥0.0465 in 2019[23]. - The weighted average return on equity was -30.60% for 2020, down 31.77 percentage points from 1.17% in 2019[23]. - The company's net cash flow from operating activities was -¥83,864,050.36, an improvement from -¥102,433,199.30 in 2019[21]. - The total net assets attributable to shareholders at the end of 2020 were ¥786,075,146.77, a decrease of 24.70% from ¥1,043,897,022.62 in 2019[21]. - The company did not declare any profit distribution for 2020 due to a net loss and negative retained earnings[5]. - The company reported a significant decline in revenue, achieving 248.42 million RMB in 2020, a decrease of 64.79% compared to 2019[72]. - The main business revenue was 240.94 million RMB, down 65.61% year-on-year[72]. - The company incurred impairment losses totaling 129.53 million RMB on goodwill from the acquisition of Xingguang Yulong, along with 27.66 million RMB for inventory and 56.02 million RMB for accounts receivable[63]. - The company reported a net loss of approximately 277.47 million RMB for the year 2020, with no dividends distributed[130]. Sales and Market Trends - In Q1 2020, the company reported a revenue of ¥49,744,908.71, which decreased to ¥26,911,433.27 in Q4 2020, indicating a significant decline in sales throughout the year[25]. - The net profit attributable to shareholders was negative across all quarters, with Q4 2020 showing a loss of ¥196,988,034, compared to a loss of ¥14,538,403.13 in Q1 2020[25]. - The revenue from the rice and wheat combine harvester business was 115.74 million yuan, down 67.97% year-on-year, with sales volume dropping by 62.57%[57]. - The overseas market for the combine harvester saw a dramatic decline, with revenue falling by 91.58% to 11.06 million yuan[57]. - The baler business revenue decreased by 72.45% to 42.54 million yuan, attributed to reduced subsidies and changing market demands[58]. - New emerging businesses generated revenue of 82.66 million yuan, down 55.29% year-on-year, with challenges in meeting market demand for tractors and cotton pickers[59]. - The sales volume of combine harvesters was 1,661 units, down 62.57% year-on-year, primarily due to the impact of the pandemic on the agricultural machinery industry's peak season[79]. - The sales of balers decreased by 49.82%, with only 818 units sold, attributed to reduced government subsidies[79]. Product Development and Innovation - The main business focus remains on the research, manufacturing, and sales of agricultural machinery, with a comprehensive product line covering various agricultural operations[30]. - The company is committed to innovation and technology development to adapt to market demands and improve product offerings[30]. - New product features include high-efficiency, energy-saving designs for harvesting machinery, aimed at improving operational performance[31]. - The Starlight series semi-feeding combine harvester features high harvesting efficiency, low field loss rate, and high grain cleanliness[32]. - The new self-propelled track-type baler is designed for automatic collection and packaging of crop straw, with high operational efficiency and low energy consumption[33]. - The 4MZ-3 cotton harvester utilizes a fully hydraulic drive system, allowing for precise positioning and adjustable hydraulic parameters for operational flexibility[33]. - The company has developed a standardized, factory-based fish farming system that minimizes environmental impact and achieves near-zero wastewater discharge[33]. - The self-propelled track-type cultivator is capable of performing multiple farming tasks, improving labor efficiency and soil moisture adaptability[32]. - The company emphasizes energy efficiency and reliability in its product designs, contributing to lower operational costs for users[32]. - The introduction of IoT technology in fish farming facilities allows for real-time water quality monitoring and remote control, improving operational management[33]. - The company is focused on continuous innovation in agricultural machinery, enhancing product performance and expanding market reach[32]. Operational Challenges and Risks - The company is facing challenges in the agricultural machinery sector, with a shift from a growth market to a stock market, influenced by regional ownership increases and weakened user demand[95]. - Increased competition in the agricultural machinery industry poses a risk, with more domestic and foreign players entering the market, potentially leading to price wars[115]. - The company faces risks from macro policy adjustments, particularly regarding agricultural machinery purchase subsidies that may not favor its products[116]. - Fluctuations in raw material prices, particularly steel, could increase production costs and affect profitability, as steel prices have shown a "low-high" trend in 2020[120]. - The company has identified significant gaps in agricultural mechanization across various crop types, production stages, and regions, indicating substantial future growth potential[96]. Strategic Initiatives and Future Outlook - The management's future outlook is based on current micro-environment factors and macroeconomic policies, but does not constitute a performance commitment[6]. - The company is planning a private placement to enhance capital strength and optimize its capital structure, aiming to improve net assets and reduce the debt-to-asset ratio[67]. - The company aims to maintain its competitive position in the agricultural machinery market despite the adverse effects of the pandemic and industry transformations[69]. - The company plans to leverage national policies to promote agricultural mechanization, including increased subsidies for agricultural machinery purchases during the "14th Five-Year Plan" period[96]. - The company aims to enhance product quality and service assurance, with plans to invest over three times the current amount in mobile service vehicles to support agricultural operations[107]. - The company plans to expand its overseas market presence, leveraging policies such as the China-ASEAN Free Trade Area upgrade and the China-Iran 25-Year Comprehensive Cooperation Agreement[109]. Governance and Compliance - The company has established a commitment to accept supervision from regulatory authorities and investors regarding compliance with these commitments[132]. - The company will take legal measures to ensure compliance with all commitments made during the issuance and listing process[132]. - The company has a complete governance structure and independent organizational framework[131]. - The company ensures independent financial decision-making without interference from controlling enterprises[131]. - The company has not engaged in any related party transactions that would harm the interests of the listed company[134]. - The company has no agreements related to loans or guarantees with its actual controllers[133]. - The company has confirmed that its investment activities do not overlap with the listed company's existing business scope[134]. Human Resources and Management - The company employed a total of 569 staff, with 350 in the parent company and 219 in major subsidiaries[199]. - The professional composition of employees includes 310 production personnel, 56 sales personnel, 46 technical personnel, 9 financial personnel, 68 administrative personnel, 63 management personnel, and 17 warehouse personnel[199]. - The remuneration for directors and senior management is determined based on annual performance assessments, aligning with company development, shareholder interests, and employee benefits[196]. - The company has undergone a board and supervisory committee election, resulting in changes to several director and supervisor positions[197]. - The company has independent directors with extensive experience in finance and law, enhancing governance and strategic oversight[185].

2021 年第一季度报告 公司代码：603789 公司简称：星光农机 星光农机股份有限公司 2021 年第一季度报告 1 / 27 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 6 | | 四、 | 附录 9 | 3 / 27 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 公司负责人章沈强、主管会计工作负责人吴海娟及会计机构负责人（会计主管人 员）吴海娟保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 2021 年第一季度报告 非经常性损益项目和金额 √适用 □不适用 4 / 27 2021 年第一季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 | | 本报告期末 | 上年度末 | 本报告期末比上 年度末增减(%) | | --- | --- | --- | --- | | 总资产 | 1,398,438,092.50 ...

2020 年第三季度报告 公司代码：603789 公司简称：星光农机 星光农机股份有限公司 2020 年第三季度报告 1 / 27 | 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 | 10 | 2020 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 公司负责人章沈强、主管会计工作负责人吴海娟及会计机构负责人（会计主管人员）吴海娟 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 | 本报告期末比上年度末 | | --- | --- | --- | --- | | | | | 增减(%) | | 总资产 | 1,575,363,965 ...