2020 年第三季度报告 公司代码：603917 公司简称：合力科技 宁波合力模具科技股份有限公司 2020 年第三季度报告 1 / 26 | | . | | --- | --- | | . | 1 | | | 1 | | 一、 重要提示 3 | | --- | | 二、 公司基本情况 3 | | 三、 重要事项 7 | | 四、 附录 9 | 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 公司负责人施良才、主管会计工作负责人曲翠红及会计机构负责人（会计主管人员）楼小莲 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(%) | | | ...

Financial Performance - The company's operating revenue for the first half of 2020 was ¥268,897,466.92, a decrease of 7.33% compared to the same period last year[18]. - The net profit attributable to shareholders for the first half of 2020 was ¥39,937,917.65, down 6.69% year-on-year[18]. - The net cash flow from operating activities was ¥25,371,016.21, a decline of 7.63% compared to the previous year[18]. - The total assets at the end of the reporting period were ¥1,304,032,306.98, a slight decrease of 0.29% from the end of the previous year[18]. - The net profit after deducting non-recurring gains and losses was ¥33,558,737.42, a decrease of 4.85% compared to the previous year[18]. - The company reported a total profit of 6,379,180.23 for the first half of 2020, with a significant loss of -1,182,564.75 attributed to income tax impacts[22]. - The company reported a total of 17,898 common stock shareholders at the end of the reporting period[110]. - The company reported a profit distribution of CNY -17,248,000.00, which includes allocations to surplus reserves and distributions to shareholders[148]. Industry Challenges - The company faced challenges due to the impact of COVID-19, particularly in the automotive industry, which experienced negative growth[20]. - The automotive industry faced a decline in production and sales, with a 16.8% drop in vehicle production and a 16.9% drop in sales during the first half of 2020[32]. - The automotive industry faced significant challenges, with vehicle production and sales in China dropping by 16.8% and 16.9% respectively in the first half of 2020[48]. Research and Development - The company aims to enhance its R&D capabilities in the casting mold industry to bridge the gap with advanced countries[33]. - The company has developed over 200 types of high-end casting and stamping molds, showcasing strong R&D capabilities[37]. - Research and development expenses increased by 25.34% to CNY 12.02 million, attributed to higher external research and development costs[51]. - Research and development expenses increased to ¥11.66 million in the first half of 2020, compared to ¥9.34 million in the same period of 2019, reflecting a growth of approximately 25.0%[135]. Production and Operations - The company specializes in the R&D, design, manufacturing, and sales of automotive casting molds, hot stamping molds, and aluminum alloy components[24]. - The production model is based on a "make-to-order" approach, ensuring customized products tailored to client specifications[25]. - The company has established stable procurement channels for raw materials, primarily sourcing from domestic suppliers[26]. - The aluminum alloy components are produced using self-developed molds, with a focus on optimizing production efficiency through a combination of in-house and outsourced processing[28]. - The hot stamping technology is widely adopted by major automotive manufacturers, indicating a growing market for hot stamping components[34]. - The company maintains a direct sales model, engaging with clients through various channels to ensure tailored service and support[31]. Financial Position - The total liabilities were CNY 309,856,827.89, down from CNY 336,965,271.14, indicating a reduction of approximately 8.0%[124]. - The company's equity increased to CNY 994,175,479.09 from CNY 970,908,995.33, showing a growth of approximately 2.5%[124]. - The total owner's equity at the end of the first half of 2020 was CNY 994,175,479.09, reflecting the company's financial stability[145]. - The total equity attributable to the parent company at the end of the first half of 2020 was CNY 911,207,642.14, compared to CNY 959,719,521.10 at the end of 2019, reflecting a decrease of approximately 5.03%[147]. Shareholder Information - The largest shareholder, Shi Liangcai, holds 22,872,987 shares, representing 14.59% of the total shares[112]. - The second-largest shareholder, Fan Kaishu, holds 20,034,885 shares, representing 12.78% of the total shares, with 2,000,000 shares pledged[112]. - The company has a total of 22,872,987 shares held by the controlling shareholder, Shi Liangcai, which will be locked for 36 months from the listing date[114]. - Major shareholders and actual controllers commit to not reducing their holdings during the lock-up period and will comply with legal requirements for any future reductions[84]. Compliance and Governance - The company has appointed Lixin Certified Public Accountants as the auditing firm for the 2020 fiscal year, approved by the 2019 annual general meeting[101]. - The company has complied with environmental protection laws and regulations, with no violations or pollution incidents reported during the reporting period[106]. - The company has not reported any major litigation or arbitration matters during the reporting period[102]. - The financial statements are prepared in accordance with the Chinese Accounting Standards, ensuring accurate reflection of the company's financial status[162]. Cash Flow and Investments - The company reported cash inflow from investment activities of approximately ¥125.41 million, down from ¥180.55 million in the same period of 2019, a decline of about 30.5%[138]. - The cash outflow from investment activities was approximately ¥161.67 million, compared to ¥317.42 million in the first half of 2019, indicating a reduction of about 49.1%[138]. - The company reported a cash balance of CNY 35,700,323.75, down from CNY 59,045,476.63, a decrease of approximately 39.5%[127]. - The company received CNY 60,000,000.00 in borrowings during the first half of 2020, an increase of 100% compared to CNY 30,000,000.00 in the same period last year[141]. Risk Factors - The company faces risks from macroeconomic downturns that could affect customer orders and sales performance[58]. - The ongoing global pandemic presents uncertainties that may adversely affect the company's export business[63]. - Exchange rate fluctuations may impact the company's export competitiveness and could lead to foreign exchange gains or losses[62]. - The procurement cost of mold steel and aluminum ingots accounted for over 50% of the total raw material procurement, exposing the company to raw material price fluctuation risks[60].

2020 年第一季度报告 公司代码：603917 公司简称：合力科技 宁波合力模具科技股份有限公司 2020 年第一季度报告 1 / 25 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 6 | | 四、 | 附录 9 | 2020 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 | 1,259,698,555.06 | 1,307,874,266.47 | | -3.68 | | 归属于上市公司股 | 989,113,854.26 | 970,908,995.33 | | 1.88 | | 东的净资产 | | | | | | | 年初至报告期末 | 上年初至上年报告期末 | 比上年同期增减(%) | | | 经营活动产生的现 金流量净额 | 24,005,252.53 | 11,020,063.81 | | 117.83 | | | ...

Financial Performance - In 2019, the company achieved operating revenue of RMB 610,967,607.07, a slight increase of 0.23% compared to RMB 609,575,883.86 in 2018[20] - The net profit attributable to shareholders of the listed company was RMB 75,901,269.49, representing a decrease of 22.36% from RMB 97,757,713.63 in the previous year[20] - The net profit after deducting non-recurring gains and losses was RMB 65,522,048.50, down 23.23% year-on-year[20] - The net cash flow from operating activities reached RMB 103,653,611.24, a significant increase of 1,362.21% compared to RMB 7,088,816.16 in 2018[20] - The total assets of the company at the end of 2019 were RMB 1,307,874,266.47, up 5.66% from RMB 1,237,815,140.12 in 2018[20] - The net assets attributable to shareholders of the listed company increased by 6.55% to RMB 970,908,995.33 from RMB 911,207,642.14 in the previous year[20] - The basic earnings per share for 2019 were RMB 0.4841, down 22.36% from RMB 0.6235 in 2018[21] - The weighted average return on net assets was 8.07%, a decrease of 3.18 percentage points from 11.25% in 2018[22] Dividend Distribution - The company plans to distribute a cash dividend of RMB 1.1 per 10 shares, totaling RMB 17,248,000 based on the total share capital as of December 31, 2019[5] - For the 2019 dividend distribution plan, the company proposes to distribute 1.1 RMB per 10 shares, amounting to a total of 17,248,000 RMB (including tax) based on a total share capital of 156,800,000 shares[104] - The cash dividend payout ratio for 2019 is 22.72%, with a total net profit attributable to shareholders of 75,901,269.49 RMB[106] - The company has maintained its cash dividend policy without changes during the reporting period[104] Operational Challenges - The company faced challenges due to increased equipment investment leading to higher depreciation costs and a decline in industry demand, resulting in insufficient new orders[22] - The domestic passenger car sales decline poses challenges for the aluminum alloy components industry, influenced by rising labor costs and fluctuating raw material prices[40] - The production of aluminum alloy parts decreased by 36.71%, primarily due to a decline in orders from its wholly-owned subsidiary, Bolite Automotive[58] Market Position and Strategy - The company specializes in the R&D, design, manufacturing, and sales of automotive casting molds and aluminum alloy components, focusing on customized products[30] - The company aims to expand its market presence in sectors such as new energy vehicles, rail transportation, and aviation, while strengthening partnerships with domestic and international clients[50] - The company recognizes the trend towards lightweight automotive components as a critical factor for future growth, driven by stricter international emission standards[72] - The company aims to enhance production capacity and improve manufacturing equipment to meet the growing market demand, which will help increase production efficiency and product quality[90] Research and Development - The company has developed over 200 high-end casting and hot stamping molds, showcasing strong R&D capabilities in the mold industry[42] - The company will continue to invest in R&D, maintaining a high proportion of R&D expenses relative to annual revenue, focusing on advanced technologies in casting molds and aluminum alloy components[94] - The company has a recognized technology center, enhancing its competitive edge in the design and manufacturing of complex molds[42] Production and Manufacturing - The production model is based on an "order-based" approach, ensuring that production aligns with customer demand[31] - The company employs a combination of in-house production and outsourcing for manufacturing, optimizing resource allocation[34] - The company has optimized its production process by outsourcing certain manufacturing steps to improve efficiency and cost control[35] - The company has invested in advanced processing technology, including high-speed machining centers, to enhance mold processing efficiency and precision[42] Financial Management - The company reported a significant increase in net cash flow from operating activities, rising by 1,362.21% due to increased cash receipts from sales[54] - The total assets at the end of the period were $1.31 billion, with cash and cash equivalents decreasing by 54.49% to $68.30 million due to investment payments[67] - The company reported a 345.96% increase in accounts payable, reaching $22.30 million, attributed to increased bank acceptance bills[69] Corporate Governance - The company has a governance structure that complies with the Company Law and Securities Law, ensuring the protection of shareholders' rights[193] - The board of directors consists of 9 members, including 3 independent directors, and has established several specialized committees[195] - The company maintains effective communication with minority shareholders to ensure their rights are protected[196] Compliance and Risk Management - The company emphasizes compliance with legal regulations to protect shareholder rights and ensure equal access to information[160] - The company recognizes the risk of macroeconomic fluctuations affecting the automotive industry, which could lead to reduced orders and sales difficulties[97] - The company faces a high customer concentration risk, with a significant portion of revenue coming from its top ten clients, which could impact profitability if these clients face difficulties[99] Employee Management and Training - The company has established a comprehensive training system to enhance employee skills, focusing on both internal and external training methods[162] - The company encourages employees to participate in continuing education to improve their knowledge and skills[191] - The number of employees in the parent company was 648, and the total number of employees including major subsidiaries was 718[188] Environmental Compliance - The company holds an environmental permit and adheres to national environmental protection laws, with no violations reported during the reporting period[163] - There were no significant environmental incidents or administrative penalties related to environmental laws during the reporting period[163]

Financial Performance - Operating revenue for the first nine months reached CNY 413,061,675.32, a slight increase of 1.11% year-on-year[6] - Net profit attributable to shareholders decreased by 15.75% to CNY 56,789,148.63 compared to the same period last year[6] - Basic earnings per share fell by 15.75% to CNY 0.3622[6] - Total operating revenue for Q3 2019 was ¥122,887,912.56, a decrease of 7.9% compared to ¥132,957,313.24 in Q3 2018[25] - Net profit for Q3 2019 was ¥13,988,655.82, a decline of 33.5% from ¥21,117,719.98 in Q3 2018[26] - Total profit for the first three quarters of 2019 was ¥66,843,537.07, down 16.4% from ¥79,886,845.85 in the first three quarters of 2018[26] - The company reported a total operating profit of ¥16,620,761.84 for Q3 2019, a decrease of 32.9% from ¥24,779,450.34 in Q3 2018[26] - Total comprehensive income for the first three quarters of 2019 was ¥54,193,740.89, down 13.2% from ¥62,412,536.79 in the same period of 2018[31] Cash Flow - Cash flow from operating activities improved significantly to CNY 44,950,463.05, a turnaround from a negative cash flow of CNY -4,780,155.86 in the previous year[6] - Operating cash flow net amount improved significantly to ¥44,950,463.05 from -¥4,780,155.86, driven by increased collections from customers and reduced payments for raw materials[13] - Cash received from tax refunds increased by 446.46% to ¥12,429,468.61 from ¥2,274,524.91, reflecting higher export tax rebates[14] - Cash paid for various taxes decreased by 34.38% to ¥30,428,958.15 from ¥46,368,212.22, mainly due to lower VAT and corporate income tax payments[14] - The net cash flow from operating activities for the first three quarters of 2019 was CNY 31,580,879.50, a significant increase from CNY 4,776,595.45 in the same period of 2018, reflecting a growth of approximately 563%[40] Assets and Liabilities - Total assets increased by 3.50% to CNY 1,281,141,231.35 compared to the end of the previous year[6] - Non-current assets totaled CNY 558,037,809.31, an increase from CNY 473,742,253.50, reflecting a growth of about 17.8%[18] - Current liabilities rose to CNY 263,426,975.27, compared to CNY 247,800,122.29, indicating an increase of approximately 6.6%[18] - Total liabilities amounted to CNY 329,128,860.43, slightly up from CNY 326,607,497.98, showing a marginal increase of about 0.5%[18] - Owner's equity reached CNY 952,012,370.92, up from CNY 911,207,642.14, marking an increase of approximately 4.5%[18] - Total liabilities as of Q3 2019 were CNY 326,607,497.98, remaining consistent with the previous year, reflecting effective liability control[45] - The company's total equity as of Q3 2019 was CNY 911,207,642.14, which remained stable compared to the previous year, indicating strong shareholder confidence[45] Shareholder Information - The total number of shareholders reached 12,516, indicating a stable shareholder base[11] - The largest shareholder, Shi Liangcai, holds 14.59% of the shares, totaling 22,872,987 shares[11] Investment and Expenses - Government subsidies recognized in the first nine months amounted to CNY 8,939,868.11, contributing positively to the financial results[8] - Investment income fell by 84.77% to ¥825,061.64 from ¥5,417,643.82, attributed to lower returns from idle fundraising investments[14] - Research and development expenses for the first three quarters of 2019 totaled ¥15,288,511.10, an increase of 9.8% from ¥13,924,348.95 in the same period of 2018[25] - Tax expenses decreased by 47.13% to ¥2,029,532.03 from ¥3,838,699.58 due to a reduction in payable VAT[13] Inventory and Receivables - Cash and cash equivalents decreased by 66.66% to ¥50,034,719.54 from ¥150,054,850.49 due to investment in financial products and payment for equipment[12] - Other receivables dropped by 89.86% to ¥582,770.21 from ¥5,749,184.57 primarily due to the recovery of export tax rebates and import deposits[12] - Other current assets increased by 367.49% to ¥27,334,141.23 from ¥5,846,958.52, mainly due to an increase in financial investments[12] - Inventory rose to CNY 294,863,017.42, compared to CNY 263,801,130.36, indicating an increase of about 11.8%[22] - Accounts receivable increased to CNY 271,574,752.44 from CNY 256,455,468.38, reflecting a growth of approximately 5.9%[22] Financial Ratios - The weighted average return on equity decreased by 1.77 percentage points to 6.09%[6] - The total liabilities to equity ratio is approximately 0.34, suggesting a conservative leverage position[49]

Financial Performance - The company's operating revenue for the first half of 2019 was ¥290,173,762.76, representing a 5.30% increase compared to ¥275,568,212.08 in the same period last year[18]. - The net profit attributable to shareholders for the first half of 2019 was ¥42,800,492.81, a decrease of 7.53% from ¥46,287,443.63 in the previous year[18]. - The net cash flow from operating activities increased significantly to ¥27,465,278.92, up 421.20% from ¥5,269,643.51 in the same period last year[18]. - The total assets at the end of the reporting period were ¥1,305,220,579.12, reflecting a 5.45% increase from ¥1,237,815,140.12 at the end of the previous year[18]. - The net assets attributable to shareholders increased by 2.90% to ¥937,633,626.43 from ¥911,207,642.14 at the end of the previous year[18]. - Basic earnings per share for the first half of 2019 were ¥0.2730, down 7.52% from ¥0.2952 in the same period last year[19]. - The weighted average return on equity decreased to 4.60%, down 0.83 percentage points from 5.43% in the previous year[19]. - Operating costs increased by 8.71% to CNY 197,046,742.67 from CNY 181,254,028.00 year-on-year[49]. - The company reported a total of CNY 180,000,000.00 in cash received from investment recoveries, down from CNY 385,000,000.00 in the previous year[144]. Operational Strategy - The company specializes in the R&D, design, manufacturing, and sales of automotive casting molds, hot stamping molds, and aluminum alloy components, with key products including engine cylinder molds and transmission housing molds[24]. - The company employs a customized production model, utilizing an "order-based" production approach to meet specific client needs[25]. - The procurement strategy includes signing framework contracts with major suppliers at the beginning of each year to ensure stable supply of raw materials[26]. - The production model combines in-house manufacturing with outsourced processing to optimize resource allocation and cost control[30]. - The company has established a direct sales model without intermediaries, engaging customers through various channels including emails and trade shows[31]. - The company focuses on continuous evaluation and management of suppliers to ensure the quality of raw materials and processing services[27]. - The company has developed over 200 types of high-end casting and stamping molds, showcasing strong R&D capabilities[35]. - The company has established a "one-stop" service system, enhancing its ability to provide integrated services from design to production[44]. - The company is focusing on the application of aluminum alloy components in sectors such as new energy vehicles and rail transportation[46]. Market Conditions - The domestic aluminum alloy component industry faces pressure from declining passenger car sales and rising labor costs, impacting production and operations[34]. - The hot stamping technology is widely adopted by major international automotive manufacturers, indicating a strong market demand for hot stamping components[33]. - Sales to the top ten customers accounted for over 70% of the company's main business revenue, indicating a high customer concentration risk[58]. - The procurement cost of mold steel and aluminum alloy ingots accounted for over 50% of the total raw material procurement, exposing the company to raw material price fluctuation risks[59]. - Exchange rate fluctuations may impact the company's operating performance, particularly if the RMB appreciates, which could weaken the price competitiveness of its products in international markets[62]. Financial Management - The company reported a significant increase in short-term borrowings, rising by 166.67% to CNY 40,000,000.00 from CNY 15,000,000.00 in the previous period[52]. - The net cash flow from financing activities improved by 181.11% to CNY 15,823,785.05, attributed to an increase in short-term bank loans[50]. - Management expenses increased by 21.75% to CNY 22,499,746.82, mainly due to increased research collaboration costs with universities[49]. - The company aims to enhance its project management system to ensure effective control over project costs and quality[47]. - The company is focusing on building a "digital factory" and advancing smart manufacturing through the integration of PLM, ERP, and MES systems[47]. Shareholder and Governance - The company has not disclosed any plans for profit distribution or capital reserve transfer during the reporting period[6]. - There are no significant risks or non-operating fund occupation by controlling shareholders reported[6]. - The company commits to stabilizing its stock price if the closing price is below 110% of the latest audited net asset value per share for 20 consecutive trading days[70]. - The stabilization measures include investor meetings, share buybacks, and share purchases by controlling shareholders and executives[71]. - The company will hold an investor meeting within 10 trading days upon reaching the warning condition[72]. - The company will stop paying salaries to directors and executives who fail to implement stabilization measures within 10 trading days[78]. - The company and its major shareholders will not reduce their holdings during the lock-up period as per legal requirements[83]. Compliance and Legal Matters - The company appointed Lixin Certified Public Accountants as the auditing firm for the 2019 fiscal year, approved at the 2018 annual shareholders' meeting[101]. - There were no significant lawsuits or arbitration matters during the reporting period[102]. - The company did not disclose any employee stock ownership plans or other incentive measures during the reporting period[102]. - The company reported no major environmental violations or pollution incidents during the reporting period[105]. - The company adjusts consolidated financial statements based on its accounting policies and periods, ensuring consistency across subsidiaries[171]. Accounting Policies - The company recognizes the fair value of remaining equity investments when control is lost, and the difference is recorded as investment income[174]. - Financial assets measured at amortized cost include receivables, long-term receivables, and debt investments, with initial measurement at fair value and transaction costs included in the initial recognition amount[182]. - The company applies the expected credit loss model for receivables, starting from January 1, 2019, similar to other receivables[189]. - The company utilizes a perpetual inventory system to maintain accurate records of inventory levels and valuations[192]. - The company recognizes gains or losses from the derecognition of financial assets based on the difference between the carrying amount and the consideration received[185].

Financial Performance - Operating income rose by 14.79% to CNY 122,152,718.65 year-on-year[6] - Net profit attributable to shareholders increased by 20.22% to CNY 15,196,324.30 compared to the same period last year[6] - Basic and diluted earnings per share both increased by 20.22% to CNY 0.0969[6] - The weighted average return on equity improved by 0.14 percentage points to 1.65%[6] - Total revenue for Q1 2019 was CNY 122,152,718.65, an increase of 14.8% compared to CNY 106,415,859.76 in Q1 2018[24] - Net profit for Q1 2019 reached CNY 15,196,324.30, up 19.9% from CNY 12,640,605.09 in the same period last year[25] - The total profit for Q1 2019 was CNY 18,112,662.27, an increase of 19.7% from CNY 15,127,638.62 in Q1 2018[25] - Operating profit for Q1 2019 was CNY 18,077,512.86, compared to CNY 14,835,663.54 in Q1 2018, marking a 21.0% increase[25] Cash Flow - Cash flow from operating activities surged by 110.67% to CNY 11,020,063.81 year-to-date[6] - Cash received from tax refunds increased by 301.20% to ¥7,840,399.04, resulting from export tax rebates[14] - Cash flow from operating activities in Q1 2019 was CNY 107,839,357.04, compared to CNY 101,999,893.51 in Q1 2018, showing a growth of 4.0%[30] - The net cash flow from operating activities for Q1 2019 was ¥11,020,063.81, an increase of 110.3% compared to ¥5,230,839.05 in Q1 2018[31] - The total cash inflow from operating activities was ¥117,956,441.11, compared to ¥104,556,184.72 in the previous year, reflecting a growth of 12.9%[31] - The total cash outflow from operating activities was ¥106,936,377.30, an increase from ¥99,325,345.67 in Q1 2018[31] Assets and Liabilities - Total assets increased by 3.59% to CNY 1,282,249,678.73 compared to the end of the previous year[6] - Current assets totaled CNY 678,728,782.03, a slight decrease from CNY 698,331,211.54 in the previous year[21] - Total liabilities increased to CNY 338,378,411.91 from CNY 309,389,323.25, indicating a rise in financial obligations[22] - Shareholders' equity rose to CNY 917,193,190.89, compared to CNY 902,281,677.01 in the previous year, showing a growth of 1.0%[23] Shareholder Information - The total number of shareholders reached 12,356 at the end of the reporting period[11] - The top shareholder, Shi Liangcai, holds 14.59% of the shares, totaling 22,872,987 shares[11] Investment and Expenses - Cash paid for fixed assets increased by 460.73% to ¥79,521,288.58, primarily due to ongoing payments for machinery and equipment[14] - Research and development expenses for Q1 2019 were CNY 4,495,732.60, an increase from CNY 3,789,847.47 in Q1 2018, reflecting a commitment to innovation[24] - The company incurred asset impairment losses of CNY 1,109,408.31 in Q1 2019, compared to a gain of CNY 443,744.27 in Q1 2018[27] Other Financial Metrics - The company reported a net non-operating income of CNY 3,113,283.50 for the period[8] - Financial expenses increased by 45.41% to ¥2,568,579.89, mainly due to higher exchange losses[14] - Other income for Q1 2019 was CNY 601,962.51, an increase from CNY 492,050.01 in Q1 2018, representing a 22.3% growth[27] - The company has not disclosed any new product developments or market expansion strategies in this report[12]

Financial Performance - The company achieved a total operating revenue of ¥609,575,883.86 in 2018, representing a 13.00% increase compared to the previous year, primarily due to increased sales in the casting mold business[20]. - The net profit attributable to shareholders of the listed company was ¥97,757,713.63, reflecting a 19.56% growth year-on-year[20]. - The net profit after deducting non-recurring gains and losses was ¥85,344,958.02, which is a 21.30% increase from the previous year, driven by revenue growth and a significant decrease in financial expenses[20]. - The basic earnings per share for 2018 were ¥0.6235, down 7.84% from the previous year[22]. - The weighted average return on net assets was 11.25%, a decrease of 6.29 percentage points compared to 2017[22]. - The company reported non-recurring gains and losses of CNY 12.41 million for 2018, with government subsidies contributing CNY 8.13 million[26]. - The company’s gross profit margin for the manufacturing sector was 32.73%, a decrease of 0.75 percentage points from the previous year[55]. - The revenue from exports grew by 96.83% year-on-year, primarily due to a significant increase in sales to NEMAK[55]. - The production of molds increased by 10.44% year-on-year, while sales rose by 3.25%[56]. - The production of aluminum alloy parts decreased by 27.27%, with sales dropping by 31.76% due to a change in product structure[56]. Cash Flow and Assets - The net cash flow from operating activities decreased by 87.17% compared to the previous year, mainly due to increased export sales and longer credit terms with foreign customers[22]. - The company's total assets at the end of 2018 were ¥1,237,815,140.12, an increase of 11.78% from the end of 2017[20]. - The net assets attributable to shareholders of the listed company increased by 9.83% to ¥911,207,642.14 at the end of 2018[20]. - The net cash flow from operating activities was 7.09 million yuan, a decrease of 87.17% compared to the previous year[61]. - Total assets at the end of the reporting period reached CNY 1.24 billion, up 11.78% year-on-year[50]. - Cash and cash equivalents decreased by 51.16% to 150.05 million yuan due to machinery investments[62]. - Accounts receivable increased by 39.33% to 311.24 million yuan, driven by sales growth[62]. Production and Operations - The main business involves the R&D, design, manufacturing, and sales of automotive casting molds and aluminum alloy parts, focusing on customized products[29]. - The company employs an "order-based production" model, ensuring production aligns with customer orders and market demand[30]. - The production model combines in-house manufacturing with outsourced processing, optimizing resource allocation and production efficiency[34]. - The company has a strong focus on quality management, continuously evaluating and managing suppliers to ensure the quality of raw materials and services[33]. - The company has developed over 200 high-end casting and hot stamping molds, showcasing strong R&D capabilities in the mold industry[42]. - The company utilizes advanced processing technologies, including high-speed cutting and multi-axis machining, to enhance mold processing efficiency and precision[43]. - The company has adopted outsourcing for certain processing stages to optimize resource allocation and control costs, improving overall production efficiency[35]. - The hot stamping technology is widely adopted by major international automotive manufacturers, indicating a strong market trend towards lightweight components[39]. Market and Industry Trends - The aluminum alloy parts industry has experienced rapid growth, driven by sectors such as automotive, rail transportation, and electronics, with significant applications in automotive power systems and structural components[40]. - The automotive market in China saw a decline in production and sales by 4.2% and 2.8% respectively, impacting the company's mold and aluminum alloy parts business[66]. - The domestic low-end automotive casting mold market is relatively saturated, while the high-end market is accelerating its localization efforts[73]. - The demand for hot stamping molds is expected to grow continuously due to the increasing penetration of hot stamping structural parts in the automotive industry[75]. - The penetration rate of hot stamping structural parts in China's automotive industry is still relatively low compared to developed countries, indicating significant growth potential in the market[76]. - The demand for aluminum alloy components in the automotive industry is expected to grow significantly as the penetration rate remains low compared to developed countries, driven by trends in energy saving, environmental protection, and vehicle lightweighting[78]. Research and Development - The company’s R&D expenses increased by 6.64% to CNY 17.65 million, reflecting ongoing investment in technology and innovation[53]. - The company adopted a "mold project management system" to improve design and processing efficiency, enhancing synchronization with customer product development[47]. - The company has established R&D cooperation with universities and research institutions, including Shanghai University and Shandong University, to enhance innovation capabilities[87]. - Companies with synchronous R&D capabilities can better meet market demands and gain a competitive edge in the casting mold industry[75]. Shareholder and Stock Information - The company plans to distribute a cash dividend of ¥1.1 per 10 shares, totaling ¥17,248,000, which will be submitted for approval at the annual shareholders' meeting[5]. - The remaining undistributed profits at the end of 2018 amounted to ¥384,675,371.98, which will be carried forward to the next year[5]. - The company reported a cash dividend of 17,248,000.00 RMB for the year 2018, which represents 17.64% of the net profit attributable to ordinary shareholders[102]. - The company did not propose a cash profit distribution plan for the reporting period despite having positive distributable profits[102]. - The company has commitments from major shareholders to not transfer or manage their shares for 36 months post-IPO, with automatic extensions under certain conditions[104]. - The company has a plan to stabilize its stock price, which includes holding investor meetings and potential share buybacks if certain price conditions are met[108]. - The company will initiate stock buybacks within 60 trading days after board approval if the stock price falls below the audited net asset value[110]. Governance and Compliance - The company maintains a commitment to protecting shareholder rights and ensuring transparent information disclosure, adhering to relevant laws and regulations[153]. - The company has a governance structure that complies with relevant laws and regulations, ensuring the protection of shareholders' rights[192]. - The company has no recent penalties from securities regulatory agencies, indicating compliance with regulations[186]. - The board of directors consists of 9 members, including 3 independent directors, and has established four specialized committees to ensure effective governance[195]. - The supervisory board is composed of 3 members, including 1 employee representative, and has implemented rules to oversee major company matters and financial reports[197]. - The company adheres to strict information disclosure regulations, ensuring timely and accurate communication with all shareholders[198]. Employee and Talent Management - The company has a structured approach to employee welfare, organizing various cultural and recreational activities[153]. - The company has established a training plan focusing on new employee orientation, skill enhancement for current employees, and the development of a core R&D team[190]. - The company has implemented a comprehensive salary management system based on job roles, performance assessments, and various allowances[188]. - The company is committed to a talent development strategy, focusing on attracting high-level technical and management personnel to support its market expansion efforts[85]. - The company will implement a comprehensive training program to develop expert-level employees, establishing a three-tier training system to meet its talent needs[85]. Risks and Challenges - The company faces risks related to macroeconomic fluctuations and the cyclical nature of the automotive industry, which could impact order volumes and sales[92]. - The company has a high customer concentration, with sales to the top ten customers accounting for a significant portion of main business revenue, posing a risk if these customers face difficulties[94]. - The main raw materials, mold steel and aluminum ingots, account for over 50% of total raw material procurement, exposing the company to price volatility risks[95]. - The company is classified as a national high-tech enterprise, but it still faces challenges in keeping pace with international competitors in technology and product upgrades[96]. - The company is exposed to exchange rate fluctuations, which could affect its competitive pricing and overall financial performance[97].

2018 年第三季度报告 公司代码：603917 公司简称：合力科技 宁波合力模具科技股份有限公司 2018 年第三季度报告 1 / 22 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 7 | | 四、 | 附录 | 10 | 2018 年第三季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人施良才、主管会计工作负责人曲翠红及会计机构负责人（会计主管人员）楼小莲 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 4 / 22 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 | | | --- | --- | --- | --- | --- | --- | --- | | ...

Financial Performance - The company achieved operating revenue of RMB 275,568,212.08 in the first half of 2018, representing a growth of 14.04% compared to the same period last year, primarily due to increased sales in aluminum alloy parts and casting molds [19]. - The net profit attributable to shareholders of the listed company reached RMB 46,287,443.63, an increase of 24.49% year-on-year [19]. - The net profit after deducting non-recurring gains and losses was RMB 39,023,432.69, up 16.31% from the previous year, driven by revenue growth [21]. - The company's operating profit for the same period was CNY 51.37 million, reflecting a year-on-year growth of 20.25% [47]. - The company reported a significant increase in prepayments, which rose to CNY 1,258,946.81 from CNY 2,001,892.10, indicating changes in operational cash flow management [124]. - The total comprehensive income for the first half of 2018 was CNY 81,764,989.68 [146]. - The company reported a comprehensive income total of 46,287,443.63 RMB for the period [145]. Cash Flow and Liquidity - The net cash flow from operating activities decreased by 80.65% compared to the same period last year, mainly due to increased cash outflows for raw material purchases and outsourcing processing [21]. - The net cash flow from operating activities generated a net amount of ¥5,269,643.51, a decrease of 80.7% compared to ¥27,237,585.02 in the same period last year [138]. - Cash and cash equivalents decreased to CNY 67,759,772.30 from CNY 307,267,028.75, indicating a significant reduction in liquidity [124]. - The total cash and cash equivalents at the end of the period were 58,025,038.97 RMB, down from 301,395,408.36 RMB at the beginning of the period [142]. Assets and Liabilities - The total assets of the company at the end of the reporting period were RMB 1,177,609,418.12, reflecting a 6.34% increase from the end of the previous year [19]. - Total liabilities increased to CNY 318,215,406.34 from CNY 277,698,290.59, reflecting a rise of about 14.6% [126]. - The company's equity attributable to shareholders increased to CNY 859,394,011.78 from CNY 829,657,715.77, showing a growth of approximately 3.6% [126]. - The total assets as of June 30, 2018, amounted to CNY 1,177,609,418.12, an increase from CNY 1,107,356,006.36 at the beginning of the period [126]. Shareholder Information - The total number of shareholders is 32 [110]. - The top ten shareholders hold a total of 117,600,000 shares, with the largest shareholder, Shi Liangcai, owning 22,872,987 shares, representing 14.59% of the total [112]. - The shares held by Shi Liangcai, Fan Kaishu, and Shi Yuanzhi are subject to a lock-up period of 36 months from the listing date [114]. - The company will ensure compliance with relevant laws and regulations during the implementation of stabilization measures [76]. Research and Development - The company's research and development expenditure rose by 25.97% to CNY 8.97 million, driven by efforts to develop new technologies and processes [48]. - The company has developed over 200 types of high-end casting and stamping molds, demonstrating strong R&D capabilities with 5 invention patents and 8 utility model patents related to its main business [37]. - The company is a national high-tech enterprise, focusing on enhancing its design, research, and innovation capabilities to compete with international mold manufacturers [60]. Production and Operations - The company specializes in the research, design, manufacturing, and sales of automotive casting molds, hot stamping molds, and aluminum alloy components, focusing on customized products [25]. - The company adopts an "order-based production" model, ensuring production aligns with customer orders and market demand [26]. - The company utilizes a combination of in-house production and outsourcing for manufacturing, optimizing resource allocation and cost control [29]. - The company has established stable procurement channels for raw materials, including mold steel and aluminum alloy ingots, through framework contracts with suppliers [27]. Market Position and Competition - The company is positioned in a competitive market, with ongoing efforts to enhance its research and development capabilities in the casting mold industry [33]. - The hot stamping technology is widely adopted by major global automotive manufacturers, indicating a strong market demand for hot stamping components [34]. - The company has formed long-term cooperative relationships with major automotive manufacturers, providing mold development services for brands like SAIC, Toyota, and Chery [42]. Compliance and Governance - The company commits that the prospectus for its initial public offering does not contain false records, misleading statements, or significant omissions [79]. - The company accepts supervision from regulatory bodies and the public regarding its commitments and will bear legal responsibilities for any violations [82]. - The company has not disclosed any major related party transactions during the reporting period [102]. Accounting and Financial Reporting - The financial statements are prepared in accordance with the Chinese Accounting Standards and reflect the company's financial position accurately [156]. - The company recognizes the fair value of remaining equity investments when losing control over subsidiaries, with the difference recorded as investment income [165]. - The company applies a method for recognizing impairment losses on significant individual receivables based on the present value of expected future cash flows [179].