二、监事会会议审议情况 （一）审议通过《2023 年半年度报告》及《2023 年半年度报告摘要》 内容详见公司同日在上海证券交易所网站（www.sse.com.cn）发布的公告。 表决结果：3 票同意、0 票反对、0 票弃权。 （二）审议通过《2023 年半年度募集资金存放与实际使用情况的专项报告》 证券代码：603926 证券简称：铁流股份 公告编号：2023-035 浙江铁流离合器股份有限公司 关于第五届监事会第十次会议决议公告 本公司监事会及全体监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。 一、监事会会议召开情况 浙江铁流离合器股份有限公司（以下简称"公司"）第五届监事会第十次会 议于 2023 年 8 月 25 日在公司六楼会议室以现场会议结合通讯方式召开，本次会 议于 2023 年 8 月 15 日以短信、直接送达方式通知全体监事。会议由监事会主席 易明燕女士主持，会议应出席监事 3 人，实际出席监事 3 人。本次会议的召集和 召开程序符合《公司法》和《公司章程》的规定，会议合法有效。 浙江铁流离合器股份有限公司监事会 2023 年 ...

证券代码：603926 证券简称：铁流股份 公告编号：2023-028 浙江铁流离合器股份有限公司 关于召开 2022 年度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： https://board.10jqka.com.cn/rs/pc/detail?roadshowId=1005340 2、同花顺手机炒股软件扫描下方二维码 会议召开方式：网络文字互动方式 一、说明会类型 （二）会议召开网址：1、同花顺路演平台 https://board.10jqka.com.cn/rs/pc/detail?roadshowId=1005340 1 会议召开时间：2023 年 5 月 12 日下午 15:00-17:00 会议召开网址：1、同花顺路演平台 2、同花顺手机炒股软件扫描下方二维码 （三）会议召开方式：网络文字互动方式 三、参加人员 浙江铁流离合器股份有限公司（以下简称"公司"）已于 2023 年 4 月 25 日 在上海证券交易所网站（www.sse.com.cn）披露了公司 2022 年年度报 ...

2023 年第一季度报告 证券代码：603926 证券简称：铁流股份 浙江铁流离合器股份有限公司 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 | | 502,675,769.59 | -2.84 | | | 归属于上市公司股东的净利润 | | 22,830,716.90 | -18.92 | | | 归属于上市公司股东的扣除非经常性 | | ...

Financial Performance - The company's operating revenue for 2022 was CNY 2,096,107,884.80, an increase of 11.58% compared to CNY 1,878,544,861.14 in 2021[21] - The net profit attributable to shareholders for 2022 was CNY 83,720,830.90, a decrease of 52.58% from CNY 176,533,555.23 in 2021[21] - The net profit after deducting non-recurring gains and losses was CNY 70,318,978.59, down 56.02% from CNY 159,875,957.92 in the previous year[21] - The cash flow from operating activities for 2022 was CNY 262,272,453.28, an increase of 66.63% compared to CNY 157,401,000.01 in 2021[21] - The total assets at the end of 2022 were CNY 2,593,268,515.90, a decrease of 4.18% from CNY 2,706,452,663.82 at the end of 2021[21] - The net assets attributable to shareholders at the end of 2022 were CNY 1,585,201,278.99, an increase of 3.76% from CNY 1,527,697,591.38 in 2021[21] - Basic earnings per share for 2022 were CNY 0.36, down 56.10% from CNY 0.82 in 2021[22] - The diluted earnings per share for 2022 were also CNY 0.36, reflecting the same percentage decrease as basic earnings[22] Dividend Distribution - The company plans to distribute a cash dividend of CNY 0.11 per share (including tax) for the 2022 fiscal year, pending approval at the shareholders' meeting[5] - The company emphasizes cash dividends over stock dividends in its profit distribution policy, prioritizing stable returns for investors[157] - The company distributed cash dividends amounting to ¥25,248,578.41, which represents 30.16% of the net profit attributable to ordinary shareholders in the consolidated financial statements[168] - The minimum cash dividend ratio is set at 15% of the distributable profit for the year, provided that cash dividend conditions are met[159] - The company has established a policy to conduct annual cash dividends after the annual shareholders' meeting, with the possibility of mid-term dividends based on profitability and funding needs[159] Market and Product Development - The company launched a project to produce 600,000 sets of electric motor shafts for new energy vehicles, enhancing its product structure and market competitiveness[33] - The company aims to increase its market share in the automotive transmission system manufacturing sector, leveraging both offline and online sales channels[32] - The company invested 152 million yuan in a project to produce 600,000 sets of electric motor shafts and other core components for new energy vehicles, enhancing its product structure and market reach[50] - The company is focusing on risk management and market acquisition strategies to navigate the challenges posed by the automotive industry's downturn[31] - The company aims to extend its manufacturing capabilities into the service sector through its smart service platforms, enhancing product penetration in the aftermarket[48] Research and Development - R&D expenses decreased by 18.33% to CNY 47,352,931.83, attributed to a slowdown in new product development in the clutch segment[76] - Total R&D investment amounted to ¥48,824,727.31, representing 2.33% of total revenue, with capitalized R&D accounting for 3.01%[84] - The company has 168 R&D personnel, accounting for 12% of the total workforce[85] Environmental and Social Responsibility - The company has invested ¥786,300 in environmental protection during the reporting period[173] - The company was recognized as a national-level green factory in 2022, reflecting its commitment to energy conservation and pollution reduction[179] - The company has implemented a photovoltaic power generation system with a capacity of 2.2 MWp, reducing carbon dioxide emissions by approximately 2,000 tons annually[180] - The company has established a comprehensive environmental management system and has obtained relevant certifications for quality, environment, occupational health, safety, and energy management[179] Governance and Compliance - The company is committed to enhancing its corporate governance structure to protect shareholder rights and ensure effective decision-making[128] - The company has established four specialized committees under the board of directors, enhancing the democratic and scientific nature of collective decision-making[130] - The company strictly complies with information disclosure obligations, ensuring timely, accurate, and complete disclosures without false records or misleading statements[130] - The company has implemented strict confidentiality measures regarding insider information management[130] Operational Challenges - The company faces risks from fluctuations in the automotive industry, which could impact sales and market demand due to potential government regulations[122] - The company is exposed to raw material price volatility, particularly steel, which significantly affects its operational stability[123] - The automotive parts manufacturing sector is experiencing intense competition with low market shares among companies, driven by the trends of electrification, intelligence, connectivity, and sharing in the automotive industry[99] Employee Management - The company has established a salary system linked to employee performance, with annual evaluations to recognize outstanding employees[154] - The total number of employees in the parent company is 830, while the main subsidiaries employ 1,276, totaling 2,106 employees[152] - The company has implemented a comprehensive training program called "Iron Army," targeting various employee groups to build a talent pipeline[155]

Financial Performance - The company's revenue for Q3 2022 was CNY 489,904,712.91, representing a year-on-year increase of 30.57%[4] - The net profit attributable to shareholders for Q3 2022 was CNY 13,292,433.26, a decrease of 70.73% compared to the same period last year[4] - The basic earnings per share for Q3 2022 was CNY 0.06, down 77.78% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2022 was CNY 8,089,650.93, a decline of 79.89% year-on-year[4] - The net profit attributable to shareholders for the year-to-date was CNY 69,482,130.97, down 54.05% year-on-year[4] - Total operating revenue for the first three quarters of 2022 reached ¥1,564,379,234.75, an increase of 22.6% compared to ¥1,276,128,241.82 in the same period of 2021[18] - Net profit for the first three quarters of 2022 was ¥67,808,110.62, a decrease of 54.8% from ¥149,870,258.93 in the same period of 2021[18] - Basic and diluted earnings per share for the first three quarters of 2022 were both ¥0.3, down from ¥0.72 in the same period of 2021[19] Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,594,623,061.03, a decrease of 4.13% from the end of the previous year[5] - As of September 30, 2022, the total current assets amounted to CNY 1,526,169,973.57, a decrease of 8.96% from CNY 1,676,522,549.93 at the end of 2021[12] - The company's total liabilities decreased to ¥1,005,068,588.06 from ¥1,155,014,954.92 year-over-year, reflecting a reduction of 13.0%[18] - The total equity attributable to shareholders increased to ¥1,561,938,375.81, up from ¥1,527,697,591.38, representing a growth of 2.2%[18] - The total assets decreased to ¥2,594,623,061.03 from ¥2,706,452,663.82, indicating a decline of 4.1%[18] - The total liabilities increased to CNY 1,526,169,973.57, reflecting a change in the company's financial structure[14] Cash Flow - The cash flow from operating activities for the year-to-date was CNY 151,385,557.79, an increase of 22.57%[4] - Cash generated from operating activities was ¥1,370,701,934.43, an increase of 38.6% compared to ¥989,394,396.48 in the previous year[21] - The net cash inflow from operating activities was CNY 151,385,557.79, an increase from CNY 123,508,729.60 in the previous year, reflecting a growth of approximately 22.6%[22] - The total cash outflow from operating activities was CNY 1,282,373,684.29, compared to CNY 898,537,835.59 in the same quarter last year, indicating an increase of about 42.6%[22] - The company received tax refunds amounting to CNY 24,666,602.26, an increase from CNY 13,024,234.68 in the previous year, reflecting a growth of approximately 89.5%[22] Operational Costs and Expenses - Total operating costs for the first three quarters of 2022 were ¥1,486,247,817.94, up 33.3% from ¥1,115,236,338.03 in the previous year[18] - Research and development expenses for the first three quarters of 2022 amounted to ¥42,821,154.29, slightly up from ¥40,005,470.77 in 2021[18] - The company paid CNY 220,064,761.93 in employee compensation, up from CNY 187,005,265.20, representing an increase of approximately 17.6%[22] Market and Industry Impact - The decline in net profit was primarily due to supply shocks and demand contraction in the automotive industry, impacting the main business segment[8] - The company has not reported any new product developments or market expansion strategies during this quarter[12] Cash Management - Cash inflow from financing activities totaled CNY 173,093,658.05, down from CNY 221,029,985.15 year-over-year[23] - The net cash outflow from financing activities was CNY -43,073,864.22, compared to CNY -17,102,844.38 in the previous year, showing a decline in cash flow management[23] - The cash and cash equivalents at the end of the period were CNY 396,391,771.30, down from CNY 441,556,207.34 at the end of the previous year[23] - The company experienced a foreign exchange impact on cash and cash equivalents of CNY 10,078,141.60, contrasting with a negative impact of CNY -5,474,048.56 in the previous year[23]

证券代码：603926 证券简称：铁流股份 浙江铁流离合器股份有限公司 2022 年 9 月 16 日投资者关系活动记录表 | --- | --- | --- | --- | --- | |-----------------------------|-------------------------------|----------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Financial Performance - The company's operating revenue for the first half of 2022 was approximately CNY 1,074.47 million, representing a year-on-year increase of 19.26% compared to CNY 900.92 million in the same period last year[18]. - The net profit attributable to shareholders of the listed company decreased by 46.88% to CNY 56.19 million, down from CNY 105.79 million in the previous year[18]. - The net cash flow from operating activities increased significantly by 275.70%, reaching CNY 75.03 million compared to CNY 19.97 million in the same period last year[18]. - Basic earnings per share for the first half of 2022 were CNY 0.24, down 53.85% from CNY 0.52 in the same period last year[19]. - The weighted average return on net assets decreased by 4.39 percentage points to 3.63% from 8.02% in the previous year[19]. - The company reported a decrease of 49.64% in net profit after deducting non-recurring gains and losses, amounting to CNY 50.74 million compared to CNY 100.75 million in the previous year[18]. - The total comprehensive income for the first half of 2022 was CNY 50.45 million, a decrease of 48.7% from CNY 98.36 million in the first half of 2021[134]. Assets and Liabilities - The total assets of the company at the end of the reporting period were CNY 2,689.13 million, a slight decrease of 0.64% from CNY 2,706.45 million at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company increased by 1.39% to CNY 1,548.91 million from CNY 1,527.70 million at the end of the previous year[18]. - The company's total liabilities decreased from CNY 1,155,014,954.92 to CNY 1,111,707,662.35, a reduction of approximately 3.76%[128]. - The company's equity attributable to shareholders rose to CNY 1,548,908,132.54 from CNY 1,527,697,591.38, marking an increase of about 1.39%[128]. - The company has a total restricted assets value of 451,122,608.14, including cash deposits of 153,345,715.40 for performance guarantees and notes[74]. Market and Business Strategy - The company aims to expand its agricultural machinery market share, having raised CNY 13.7166 million for a new dual-action clutch production line, expected to add 50,000 units of annual production capacity[31]. - The company is focusing on digital transformation in its manufacturing processes, aiming to improve operational efficiency and product quality[25]. - The company is actively adjusting its market strategy to enhance its presence in the domestic OEM market, which has become a strong support for revenue growth[64]. - The company plans to continue investing in research and development, with R&D expenses amounting to ¥27,063,325.17 for the first half of 2022[133]. - The company is expanding into the new energy vehicle parts sector, with a project to produce 600,000 sets of motor shafts and other core components annually[67]. Production and Supply Chain - The automotive transmission system manufacturing segment produces nearly 2,000 types of clutches, covering over 90% of vehicle models, with leading production capacity in China[24]. - The company has developed nearly 2,000 models of automotive clutches, covering over 90% of commercial and passenger vehicle models, which has significantly increased its market share[56]. - The company has a comprehensive supply chain service for commercial vehicles, with over 600,000 SKUs, enhancing its service efficiency and market reach[23]. - The production model is based on "sales-driven production," minimizing inventory accumulation through monthly sales plans[42]. - The company is investing in smart factory upgrades to enhance automation and reduce labor costs, improving operational efficiency[43]. Environmental and Compliance - The company has established a wastewater treatment facility with a capacity of 300 tons per day, currently operating at 80 tons per day, ensuring compliance with discharge standards[92]. - The company has received environmental impact approval for the annual production of 800,000 sets of driven plates and 50,000 sets of flywheel technology improvement projects[93]. - The company has completed the environmental monitoring plan, with all emission indicators meeting standards according to monitoring reports[96]. - There were no administrative penalties due to environmental issues during the reporting period[97]. Shareholder and Capital Structure - The company increased its total share capital from 176,563,485 shares to 229,532,531 shares, with a cash dividend of RMB 0.17 per share and a capital increase of 0.3 shares per share[110]. - The number of shareholders reached 9,898 by the end of the reporting period[114]. - The top ten shareholders hold a total of 85,961,842 shares, representing 37.45% of the total shares[116]. - The company has a total of 21,270,451 limited shares at the end of the reporting period[112]. - The company has a total of 104,718,500.21 RMB in undistributed profits at the end of the reporting period[152]. Risks and Challenges - The company faces risks related to fluctuations in the automotive industry, which could impact sales and customer expansion[79]. - The company is exposed to raw material price volatility, particularly steel, which significantly affects operational stability[80]. - The competitive landscape in the automotive clutch industry is intense, with the top ten companies holding approximately 40% of the market share[82]. Corporate Governance - The company has not disclosed any plans for profit distribution or capital reserve transfer during the reporting period[4]. - There are no significant risks or non-operating fund occupation by controlling shareholders or related parties reported during this period[5]. - The company has no major litigation or arbitration matters during the reporting period[102]. - The company and its controlling shareholders have maintained a good credit status without any significant overdue debts[102].

Financial Performance - The company's operating revenue for Q1 2022 was ¥517,374,151.57, representing a year-on-year increase of 22.12%[4] - The net profit attributable to shareholders was ¥28,158,506.34, showing a decline of 46.91% compared to the same period last year[4] - The net profit after deducting non-recurring gains and losses was ¥26,643,256.54, down 46.51% year-on-year[4] - The basic earnings per share decreased by 51.67% to ¥0.16[4] - The weighted average return on equity was 1.83%, a decrease of 2.28 percentage points from the previous year[4] - Total operating revenue for Q1 2022 was ¥517,374,151.57, an increase of 22.2% compared to ¥423,659,691.09 in Q1 2021[15] - Net profit for Q1 2022 was ¥27,430,087.47, a decrease of 47.9% from ¥52,657,196.77 in Q1 2021[16] - Earnings per share for Q1 2022 were ¥0.16, down from ¥0.33 in Q1 2021[16] - The company reported a total comprehensive income of ¥24,142,584.73 for Q1 2022, down from ¥47,074,129.07 in Q1 2021[16] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,716,647,567.29, a slight increase of 0.38% from the end of the previous year[5] - Current assets totaled RMB 1,671,976,646.17, compared to RMB 1,676,522,549.93 at the end of 2021, indicating a decrease of approximately 0.03%[12] - Total liabilities reached RMB 1,671,976,646.17, reflecting a slight decrease from RMB 1,676,522,549.93 at the end of 2021[12] - Total liabilities as of Q1 2022 were ¥1,141,067,273.67, a slight decrease from ¥1,155,014,954.92 in Q1 2021[15] - Total equity as of Q1 2022 was ¥1,575,580,293.62, an increase from ¥1,551,437,708.90 in Q1 2021[15] Cash Flow - Cash flow from operating activities showed a net outflow of ¥33,708,944.04, an increase of 3.58% compared to the previous year[4] - In Q1 2022, the company reported cash inflows from operating activities of CNY 411,900,210.41, an increase of 34.3% compared to CNY 306,668,755.82 in Q1 2021[18] - The cash outflows from operating activities totaled CNY 445,609,154.45, up from CNY 341,630,466.07 in the same period last year, resulting in a net cash flow from operating activities of CNY -33,708,944.04[18] - Investment activities generated a net cash outflow of CNY -51,532,721.20, compared to CNY -16,686,623.12 in Q1 2021, indicating increased investment expenditures[19] - Cash inflows from financing activities amounted to CNY 85,011,759.45, significantly higher than CNY 32,750,000.00 in Q1 2021, reflecting improved financing conditions[19] - The net cash flow from financing activities was CNY 76,747,952.90, a substantial increase from CNY 2,545,458.54 in the previous year[19] - The company's cash and cash equivalents at the end of Q1 2022 stood at CNY 400,052,961.22, down from CNY 470,248,896.80 at the end of Q1 2021[19] Costs and Expenses - Operating costs rose by 35.36%, influenced by the inclusion of new subsidiaries and rising raw material and logistics costs[6] - Total operating costs for Q1 2022 were ¥489,058,684.57, up 34.1% from ¥364,924,389.61 in Q1 2021[15] - Research and development expenses for Q1 2022 were ¥11,733,576.28, down from ¥13,644,145.22 in Q1 2021[15] - Financial expenses for Q1 2022 were ¥5,258,235.17, significantly higher than ¥1,232,940.64 in Q1 2021[15] - Payments to employees increased to CNY 93,094,585.42 from CNY 73,104,637.72, reflecting a 27.4% rise in labor costs[18] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 9,214[8] Other Information - The company has no significant new product launches or technological developments reported during this quarter[10] - There are no updates on market expansion or mergers and acquisitions in the current report[10] - The company reported a notable increase in accounts payable, which stood at RMB 328,713,656.39, down from RMB 385,699,712.88, a decrease of about 14.8%[12] - Cash and cash equivalents were RMB 516,608,015.67, down from RMB 534,285,507.53, reflecting a decrease of about 3.2%[11] - Accounts receivable increased to RMB 374,293,331.95 from RMB 350,395,643.61, representing a growth of approximately 6.8%[11] - Inventory rose to RMB 560,672,427.69, compared to RMB 509,159,667.58, marking an increase of around 10.1%[12] - Short-term borrowings significantly increased to RMB 129,278,863.45 from RMB 53,310,304.00, indicating a rise of approximately 142.5%[12] - The impact of exchange rate changes on cash and cash equivalents was a decrease of CNY 1,663,312.84, compared to a decrease of CNY 2,874,098.69 in Q1 2021[19]

Financial Performance - The company's operating revenue for 2021 was approximately ¥1.88 billion, representing a 24.57% increase compared to ¥1.51 billion in 2020[20]. - The net profit attributable to shareholders of the listed company was approximately ¥176.53 million, an increase of 9.40% from ¥161.37 million in the previous year[20]. - The basic earnings per share for 2021 was ¥1.07, reflecting a 4.90% increase from ¥1.02 in 2020[21]. - The total assets of the company at the end of 2021 were approximately ¥2.71 billion, a 22.53% increase from ¥2.21 billion in 2020[20]. - The company's net cash flow from operating activities decreased by 29.86% to approximately ¥157.40 million from ¥224.42 million in 2020[20]. - The weighted average return on equity for 2021 was 12.95%, a decrease of 0.54 percentage points from 13.49% in 2020[21]. - The company reported a total net asset of approximately ¥1.53 billion at the end of 2021, which is a 20.67% increase from ¥1.27 billion in 2020[20]. - The company achieved an annual revenue of 1.879 billion RMB, representing a year-on-year growth of 24.57%[75]. - Net profit attributable to shareholders reached 177 million RMB, an increase of 9.40% compared to the previous year[75]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was 160 million RMB, up 20.57% year-on-year[75]. - Operating costs increased by 27.97% to 1.419 billion RMB, primarily due to rising raw material prices and increased shipping costs[76]. - Research and development expenses rose by 29.98% to 58 million RMB, driven by increased investment in clutch and new motor shaft projects[77]. - The company reported a gross margin of 24.67% in the automotive parts sector, a decrease of 1.90 percentage points year-on-year[79]. Investment and Expansion - The company plans to invest RMB 152 million in a project to produce 600,000 sets of electric motor shafts and other core components for new energy vehicles, with the project expected to commence operations in 2022[32]. - The company raised approximately 166 million yuan through a private placement to invest in projects related to core components for new energy vehicles and high-end agricultural machinery, enhancing its production capacity and market competitiveness[38]. - The company plans to establish a manufacturing center for high-end agricultural machinery components, with an investment of 13.7166 million CNY aimed at increasing production capacity by 50,000 sets of dual-action clutches annually[54]. - The company is accelerating the construction of a project with an annual production capacity of 600,000 sets of electric axles for new energy vehicles[122]. - The company is expanding its high-precision component manufacturing capabilities, targeting the electric vehicle market with a new project to produce 600,000 core parts annually[116]. Market Position and Strategy - The company maintains a leading position in the clutch market, with production capacity covering over 90% of commercial and passenger vehicle models, contributing to a strong market share[30]. - The company is actively expanding its product offerings and market presence through innovation and leveraging existing marketing networks to enhance revenue and profit[31]. - The company is focusing on the development of high-end agricultural machinery components, aiming for a 60% market share in large tractors over 200 horsepower[113]. - The company is expanding its international market presence, particularly in Europe, Russia, the Middle East, South America, and Southeast Asia[120]. - The company is focusing on smart factory initiatives to improve automation and reduce labor costs, aiming to enhance operational efficiency and market competitiveness[65]. Risks and Challenges - The company has outlined potential risks in its report, advising investors to be cautious regarding future plans and development strategies[6]. - The company faces risks from fluctuations in the automotive industry, which could impact sales and market demand[125]. - The company is exposed to raw material price volatility, particularly in steel, which is crucial for its production[126]. - The company is addressing the risk of talent loss in a competitive industry, which could affect its operational capabilities[129]. Corporate Governance - The company held 5 shareholder meetings during the reporting period, all conducted in compliance with relevant laws and regulations, ensuring valid voting results[136]. - The board of directors consists of members elected according to legal procedures, ensuring compliance with laws and regulations[133]. - The company has established a transparent performance evaluation system for executives, implementing an annual salary system for senior management[133]. - The company maintains independence from its controlling shareholders in terms of assets, personnel, finance, and operations, with legal and fair related party transactions[134]. - The company has a dedicated audit committee that enhances the democratic and scientific nature of board decisions, contributing to healthy development[132]. Environmental and Social Responsibility - The company has a wastewater treatment plant with a capacity of 300t/D, currently operating at 80t/D, ensuring compliance with discharge standards[179]. - The company has received environmental impact approval for projects including an annual production increase of 800,000 sets of driven plate assemblies and 50,000 flywheels[180]. - The company has established an emergency response plan for environmental incidents, completed in May 2020[182]. - The company has implemented a self-monitoring scheme, with all emission indicators meeting standards[183]. - There were no administrative penalties related to environmental issues during the reporting period[184]. Shareholder and Employee Relations - The company has established a cash dividend policy, aiming for a minimum of 80% cash dividend distribution when in a mature stage without major capital expenditures[161]. - The company plans to conduct cash dividends annually after the shareholders' meeting, with a minimum of 15% of the distributable profit allocated in cash[162]. - The company has a training program called "Iron Army," targeting various employee levels, including middle management and new graduates[158]. - The company has 78 retired employees for whom it bears costs, indicating a commitment to employee welfare[156]. - The company has implemented an employee stock ownership plan, with adjustments made to the number of incentive objects and shares due to changes in employee status[171].