襄阳长源东谷实业股份有限公司 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个别及连带责任。 重要内容提示： 襄阳长源东谷实业股份有限公司（以下简称"公司"）已于 2023 年 3 月 30 日在上海证券交易所网站（www.sse.com.cn）披露了公司 2022 年度报告。为便 于广大投资者更全面深入地了解公司 2022 年度经营成果、财务状况，公司计划 于 2023 年 4 月 7 日下午 16:00-17:00 召开 2022 年度业绩说明会，就投资者关心 的问题进行交流。 一、说明会类型 本次业绩说明会以网络互动形式召开，公司将针对 2022 年度的经营成果及 证券代码：603950 证券简称：长源东谷 公告编号：2023-014 会议召开时间：2023 年 4 月 7 日(星期五) 下午 16:00-17:00 会议召开地点： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/）。 会议召开方式：上证路演中心网 ...

Financial Performance - Revenue for Q3 2022 was CNY 258,389,047.29, a decrease of 19.16% compared to the previous quarter and a decline of 36.57% year-to-date[6]. - Net profit attributable to shareholders for Q3 2022 was CNY 11,680,146.60, down 52.04% from the previous quarter and down 58.95% year-to-date[6]. - Basic earnings per share for Q3 2022 was CNY 0.05, reflecting a decrease of 52.04% compared to the previous quarter[6]. - Total operating revenue for the first three quarters of 2022 was CNY 814,732,938.45, a decrease of 36.5% compared to CNY 1,284,528,261.57 in the same period of 2021[17]. - Net profit for the first three quarters of 2022 was CNY 90,475,299.34, a decline of 59.1% from CNY 221,530,488.26 in the same period of 2021[18]. - The company reported a total profit of CNY 111,199,527.90 for the first three quarters of 2022, down 57.7% from CNY 262,481,602.91 in the same period of 2021[18]. - Basic and diluted earnings per share for the first three quarters of 2022 were both CNY 0.39, compared to CNY 0.95 in the same period of 2021[19]. Cash Flow - The company reported a net cash flow from operating activities of CNY 272,361,724.80, down 24.66% year-to-date[6]. - Cash flow from operating activities for the first three quarters of 2022 was CNY 564,186,299.52, a decrease of 52.3% from CNY 1,183,165,981.12 in the same period of 2021[22]. - Net cash inflow from operating activities was CNY 272,361,724.80, a decrease from CNY 361,530,810.52 in the previous period, reflecting a decline of approximately 24.7%[23]. - The company reported a cash inflow from operating activities of CNY 876,475,024.32, down from CNY 1,438,768,786.98, a decrease of about 39.2%[23]. - Total cash inflow from investment activities was CNY 63,571,000.00, compared to CNY 39,690,060.03 in the previous period, indicating an increase of about 60.1%[23]. - Cash outflow from investment activities totaled CNY 167,074,990.14, down from CNY 416,927,907.14, representing a decrease of approximately 60%[23]. - Net cash flow from financing activities was negative CNY 122,451,502.88, contrasting with a positive inflow of CNY 17,712,695.54 in the previous period[24]. - Total cash outflow for financing activities was CNY 160,251,502.88, compared to CNY 72,287,304.46 in the previous period, indicating an increase of approximately 121.5%[24]. Assets and Liabilities - Total assets at the end of Q3 2022 were CNY 3,676,246,661.60, a slight decrease of 0.40% from the end of the previous year[6]. - As of September 30, 2022, the company's total assets amounted to CNY 3,676,246,661.60, a slight decrease from CNY 3,691,101,676.28 at the end of 2021[14]. - The company's equity attributable to shareholders was CNY 2,242,959,735.40, down from CNY 2,253,439,389.74, reflecting a decrease of approximately 0.5%[16]. - Total liabilities decreased slightly to CNY 1,413,438,647.95 from CNY 1,423,559,140.70, a reduction of about 0.8%[16]. - Short-term borrowings and other current liabilities were not detailed, but the total current liabilities decreased to CNY 617,875,896.58 from CNY 722,969,432.49, a decline of about 14.5%[16]. Shareholder Information - The company had a total of 16,255 common shareholders at the end of the reporting period[12]. - The top shareholder, Li Zuoyuan, held 40.72% of the shares, totaling 94,274,428 shares[12]. Operational Insights - The decline in revenue and profit was attributed to a downturn in the industry and a decrease in customer orders[9]. - The company is focusing on enhancing its cash position and managing receivables effectively to support future growth initiatives[14]. - Research and development expenses for the first three quarters of 2022 were CNY 39,569,893.69, a decrease of 40.8% compared to CNY 66,816,428.93 in the same period of 2021[17]. - The company experienced a decrease in sales expenses, which were CNY 4,074,058.48 for the first three quarters of 2022, down from CNY 31,658,694.78 in the same period of 2021[17]. - The company recorded other income of CNY 21,046,002.18 in the first three quarters of 2022, an increase from CNY 6,568,219.80 in the same period of 2021[17].

Financial Performance - The company's operating revenue for the first half of 2022 was ¥556,343,891.16, a decrease of 42.34% compared to ¥964,898,188.41 in the same period last year[19]. - The net profit attributable to shareholders for the first half of 2022 was ¥78,328,287.87, down 59.81% from ¥194,892,768.15 in the previous year[19]. - The net profit after deducting non-recurring gains and losses was ¥60,809,116.58, a decline of 68.06% compared to ¥190,379,918.03 in the same period last year[19]. - The net cash flow from operating activities was ¥218,521,635.44, which is a decrease of 15.54% from ¥258,728,969.00 in the previous year[19]. - The total assets at the end of the reporting period were ¥3,606,751,372.91, down 2.29% from ¥3,691,101,676.28 at the end of the previous year[19]. - The net assets attributable to shareholders at the end of the reporting period were ¥2,230,837,045.60, a decrease of 1.00% from ¥2,253,439,389.74 at the end of the previous year[19]. - Basic earnings per share for the first half of 2022 were ¥0.34, a decrease of 59.52% from ¥0.84 in the same period last year[20]. - The weighted average return on net assets was 3.42%, down 5.85 percentage points from 9.27% in the previous year[20]. Cash Flow and Investments - The company's cash flow from operating activities was ¥218,521,635.44, a decline of 15.54% compared to the previous year[34]. - The company's cash and cash equivalents decreased from ¥613,759,553.47 to ¥610,789,262.11, a decline of approximately 0.32%[80]. - Cash received from sales of goods and services was approximately ¥436.75 million, a significant decrease of 47.2% compared to ¥825.96 million in the same period of 2021[92]. - Cash outflow from investing activities amounted to CNY 62,627,410.91, a significant reduction from CNY 214,044,114.76 in the prior period[93]. - Cash flow from financing activities resulted in a net outflow of CNY 150,240,003.84, contrasting with a net inflow of CNY 35,577,292.05 in the same period last year[94]. Market and Industry Context - In the first half of 2022, the domestic commercial vehicle market sold 1.7018 million units, a 41% decrease from 2.8936 million units in the same period last year[26]. - Diesel vehicles accounted for approximately 62.89% of the commercial vehicle market share in the first half of 2022[27]. - The company faced risks related to the cyclical fluctuations in the automotive industry, which significantly impact its revenue[50]. Research and Development - The company’s R&D has led to successful innovations in core technologies, including flexible production lines for cylinder heads and offset designs for cylinder bores[29]. - Research and development expenses fell by 42.77% to ¥23,613,876.99 due to project delays caused by the pandemic[35]. - The company's research and development expenses for the first half of 2022 were approximately ¥12.48 million, a decrease of 30.9% from ¥18.09 million in the first half of 2021[90]. Corporate Governance and Shareholder Information - The company plans not to distribute cash dividends or bonus shares during this reporting period[4]. - As of the end of the reporting period, the total number of ordinary shareholders was 15,607[68]. - The largest shareholder, Li Zuoyuan, holds 94,274,428 shares, accounting for 40.72% of the total shares[70]. - The company has not disclosed any significant related party transactions or changes in major contracts during the reporting period[65]. Assets and Liabilities - The company's total assets included cash and cash equivalents of ¥610,789,262.11, accounting for 16.93% of total assets[38]. - The company's total liabilities decreased from ¥1,423,559,140.70 to ¥1,356,095,659.25, a reduction of approximately 4.73%[82]. - The company's total equity decreased from ¥2,267,542,535.58 to ¥2,250,655,713.66, a decline of about 0.74%[82]. Compliance and Reporting - The company’s financial statements are prepared based on the going concern assumption, adhering to the relevant accounting standards[122]. - The company adheres to the accounting standards, ensuring that the financial statements accurately reflect the financial position as of June 30, 2022, and the operating results for the first half of 2022[125]. - The company did not report any changes in accounting policies or prior period error corrections during the current reporting period[114]. Future Outlook - The company’s future outlook remains cautious due to the recent financial performance and market conditions[106].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 343,590,475.73, representing a decrease of 32.41% compared to the same period last year[5] - The net profit attributable to shareholders was CNY 54,142,532.03, down 47.22% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 42,182,782.14, a decline of 58.37% compared to the previous year[5] - The basic earnings per share (EPS) was CNY 0.24, reflecting a decrease of 45.45% year-on-year[6] - The weighted average return on equity (ROE) was 2.37%, down 2.62% from the previous year[6] - The decline in revenue and profit was attributed to the impact of the National VI emission upgrade and the downturn in industry demand due to domestic and international pandemic effects and economic slowdown[8] - Total operating revenue for Q1 2022 was CNY 343,590,475.73, a decrease of 32.4% compared to CNY 508,373,463.98 in Q1 2021[17] - Net profit for Q1 2022 was CNY 54,449,526.11, a decline of 47.4% from CNY 103,351,121.02 in Q1 2021[18] - Earnings per share for Q1 2022 were CNY 0.24, compared to CNY 0.44 in Q1 2021[19] - The company's operating profit for Q1 2022 was CNY 29,989,565.33, a decrease from CNY 68,796,820.99 in Q1 2021, representing a decline of approximately 56.4%[28] - The net profit for Q1 2022 was CNY 25,673,314.10, down from CNY 59,227,404.55 in Q1 2021, indicating a decrease of about 56.7%[28] Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,834,110,014.86, an increase of 3.87% from the end of the previous year[6] - The total liabilities as of Q1 2022 amounted to CNY 1,515,222,549.53, an increase of 6.5% from CNY 1,423,559,140.70 in Q1 2021[16] - The total assets as of March 31, 2022, amounted to CNY 3,361,797,803.14, an increase from CNY 3,227,145,303.82 at the end of 2021[26] - The total liabilities increased to CNY 1,635,876,470.08 from CNY 1,526,742,888.50 year-over-year[25] Shareholder Information - The total number of common shareholders at the end of the reporting period is 16,319[10] - The largest shareholder, Li Zuoyuan, holds 94,274,428 shares, representing 40.72% of the total shares[10] - The second-largest shareholder, Shenzhen Innovation Investment Group, holds 4,630,320 shares, representing 2.00% of the total shares[10] - The company has a significant shareholder relationship, with Li Zuoyuan and Xu Nengchen being spouses, and Li Zuoyuan and Li Xiangfeng being father and son[11] Cash Flow - The net cash flow from operating activities was CNY 117,678,013.91, a decrease of 6.09% compared to the same period last year[5] - Cash inflow from operating activities in Q1 2022 was CNY 342,960,655.18, down 30.2% from CNY 491,847,826.32 in Q1 2021[21] - The company's cash and cash equivalents as of March 31, 2022, amount to ¥707,600,660.32, an increase from ¥613,759,553.47 as of December 31, 2021, reflecting a growth of approximately 15.3%[13] - The company's cash inflow from financing activities was CNY 90,000,000.00, while cash outflow was CNY 5,479,000.00, resulting in a net cash flow of CNY -5,479,000.00[22] - The company reported cash inflow from operating activities of CNY 215,059,133.99 in Q1 2022, up from CNY 189,666,958.28 in Q1 2021, which is an increase of approximately 13.4%[29] Research and Development - Research and development expenses for Q1 2022 were CNY 14,399,269.29, a decrease of 38.6% from CNY 23,402,148.36 in Q1 2021[17] - Research and development expenses for Q1 2022 were CNY 8,468,108.40, down from CNY 10,023,835.32 in Q1 2021[27] Other Financial Metrics - The company reported a financial asset impairment loss of CNY 3,273,351.95 in Q1 2022[18] - The deferred income tax liabilities decreased to CNY 26,670.37 from CNY 42,672.60 in Q1 2021[16] - The company incurred tax expenses of CNY 4,537,142.56 in Q1 2022, down from CNY 9,969,421.15 in Q1 2021, representing a decrease of approximately 54.5%[28] - The company has not reported any significant new product developments or market expansion strategies in the current quarter[12] - The company has not adopted the new accounting standards for the current year, as indicated in the report[31]

Financial Performance - In 2021, the company's operating revenue was RMB 158,154.48 million, a decrease of 5.75% compared to RMB 167,798.45 million in 2020[21]. - The net profit attributable to shareholders was RMB 24,941.23 million, down 20.71% from RMB 31,453.86 million in the previous year[21]. - The net profit after deducting non-recurring gains and losses was RMB 22,527.93 million, a decrease of 19.20% from RMB 27,882.06 million in 2020[21]. - The basic earnings per share were RMB 1.08, representing a decline of 28.95% compared to RMB 1.52 in 2020[22]. - The weighted average return on net assets was 11.72%, down 6.85 percentage points from 18.57% in the previous year[22]. - The net cash flow from operating activities increased by 45.48% to RMB 63,138.26 million from RMB 43,399.52 million in 2020[21]. - The net profit for 2021 was CNY 252.20 million, down 21.37% compared to the previous year, with the net profit attributable to shareholders of the parent company at CNY 249.41 million, a decline of 20.71%[43]. - The total revenue for 2021 was CNY 1,581,544,769.16, a decrease of 5.75% compared to the previous year[162]. - The gross profit margin declined from 33.29% to 28.89% due to significant fluctuations in the downstream market[162]. Assets and Liabilities - The net assets attributable to shareholders increased by 12.07% year-on-year, reaching CNY 225.34 billion at the end of 2021[24]. - Total assets rose by 2.25% year-on-year, amounting to CNY 369.11 billion at the end of 2021[24]. - The total assets of the company increased to $2 billion, reflecting a 10% growth from the previous fiscal year[87]. - Total liabilities decreased to RMB 1,423,559,140.70 in 2021 from RMB 1,569,773,496.59 in 2020, representing a reduction of about 9.34%[174][175]. - The company's equity attributable to shareholders increased to RMB 2,253,439,389.74 in 2021 from RMB 2,010,827,770.37 in 2020, a growth of about 12.06%[175]. Market and Product Development - The company achieved a significant increase in market share for its main products, including cylinder blocks and cylinder heads, despite a decline in the commercial vehicle market[34]. - The company successfully transitioned to supplying National VI products, with effective orders increasing in the second half of 2021[34]. - The commercial vehicle market saw a total sales volume of 4.79 million units in 2021, a year-on-year decline of 6.6%[36]. - The heavy-duty truck sales decreased by 13.8% year-on-year, totaling 1.395 million units sold[36]. - The company plans to focus on the research, production, and sales of core components such as engine cylinder blocks and cylinder heads, capitalizing on the ongoing demand in the commercial vehicle sector due to the implementation of the "National VI" policy[71]. Research and Development - The company plans to continue investing in research and development to support new project initiatives and maintain competitive advantages in technology[46]. - Total R&D expenditure amounted to ¥85,777,708.94, representing 5.42% of operating revenue[57]. - The company employed 153 R&D personnel, accounting for 10.12% of total staff[58]. - Research and development expenses for 2021 were CNY 85,777,708.94, slightly up from CNY 84,542,853.23 in 2020[180]. Governance and Compliance - The company has implemented a governance framework to enhance management levels and ensure compliance with regulatory requirements[35]. - The company has a robust corporate governance structure, ensuring compliance with relevant laws and regulations, and actively engages its board and management in decision-making processes[77]. - The company emphasizes the importance of timely and accurate information disclosure to ensure all shareholders have equal access to information[77]. - The company has established a governance framework in compliance with the Company Law, Securities Law, and Corporate Governance Guidelines, ensuring effective execution and compliance[120]. Environmental and Social Responsibility - The company faced an administrative penalty of RMB 100,000 due to environmental violations related to wastewater discharge, which has since been rectified[123]. - The company has implemented measures to prevent similar environmental issues from recurring, including comprehensive inspections across subsidiaries[123]. - The management team emphasized a commitment to sustainability, aiming to reduce carbon emissions by 25% over the next five years[84]. Shareholder Information - The total number of common shareholders as of the end of the reporting period is 16,494, an increase from 16,463 at the end of the previous month[143]. - The top shareholder, Li Zuoyuan, holds 94,274,428 shares, representing 40.72% of the total shares[145]. - All major shareholders have limited sale conditions on their shares, with the earliest release date being May 26, 2023[147]. - The company has no preferred shareholders with restored voting rights as of the reporting period[143]. Cash Flow and Financial Management - Cash and cash equivalents at the end of the period were ¥61,375.96 million, constituting 16.63% of total assets[60]. - The company reported a significant increase in cash flow from operating activities, reaching ¥631.38 million in 2021, up 45.5% from ¥433.99 million in 2020[189]. - The net cash flow from financing activities was -¥199,888,989.48 in 2021, a decrease from a positive cash flow of ¥375,225,015.54 in 2020[194]. - The total cash and cash equivalents at the end of 2021 amounted to ¥499,417,327.51, compared to ¥356,511,088.89 at the end of 2020, marking an increase of about 40%[194].

Financial Performance - The company's operating revenue for Q3 2021 was ¥319,630,073.16, a decrease of 30.26% compared to the same period last year[5] - The net profit attributable to shareholders for Q3 2021 was ¥24,356,054.41, down 61.26% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥24,988,120.45, a decrease of 57.02% compared to the same period last year[5] - Basic and diluted earnings per share for Q3 2021 were both ¥0.11, reflecting a decline of 61.26% year-on-year[6] - Total operating revenue for the first three quarters of 2021 reached ¥1,284,528,261.57, an increase of 6.03% compared to ¥1,211,454,352.52 in the same period of 2020[19] - Net profit for the first three quarters of 2021 was ¥221,530,488.26, slightly higher than ¥221,404,984.96 in the same period of 2020, reflecting a growth of 0.06%[21] - The total profit for the first three quarters of 2021 was ¥262,481,602.91, compared to ¥257,149,839.09 in the same period of 2020, marking an increase of 2.57%[21] Cash Flow and Liquidity - Cash flow from operating activities for the year-to-date period was ¥361,530,810.52, an increase of 36.76% compared to the same period last year[6] - Cash flow from operating activities totaled ¥1,438,768,786.98, an increase of 37.83% compared to ¥1,044,387,587.44 in the first three quarters of 2020[25] - The net cash flow from operating activities was CNY 361,530,810.52, an increase of 36.8% compared to CNY 264,351,217.05 in the previous year[26] - The net increase in cash and cash equivalents was CNY 2,005,656.39, down from CNY 415,133,170.25 in the same quarter last year[27] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,742,683,147.04, representing a 3.68% increase from the end of the previous year[6] - As of September 30, 2021, total assets amounted to RMB 3,742,683,147.04, an increase from RMB 3,610,011,554.78 at the end of 2020[17] - Total liabilities decreased to RMB 1,506,714,600.57 from RMB 1,569,773,496.59 at the end of 2020, indicating a reduction in financial obligations[17] - Total current liabilities decreased to RMB 882,377,153.34 from RMB 911,627,219.86, indicating better short-term financial management[17] - The total assets amounted to CNY 3,610,011,554.78, slightly down from CNY 3,616,306,986.17[29] - Total liabilities were CNY 1,569,773,496.59, compared to CNY 1,576,068,927.98, showing a decrease in overall liabilities[30] Equity and Investments - The equity attributable to shareholders at the end of the reporting period was ¥2,222,369,015.56, up 10.52% from the previous year[6] - The company's total equity rose to RMB 2,235,968,546.47 from RMB 2,040,238,058.19, indicating a strengthening of the financial position[17] - Long-term investments increased to RMB 56,288,305.22 from RMB 50,389,982.98, reflecting a commitment to growth initiatives[16] - The company's total equity stood at CNY 2,040,238,058.19, unchanged from the previous reporting period[30] Operational Efficiency - The decline in revenue and profit was attributed to the implementation of the National VI emission standards, which led to a decrease in customer orders and sales[10] - Accounts receivable decreased significantly to RMB 351,991,426.43 from RMB 548,479,235.95, reflecting improved collection efficiency[15] - Inventory increased to RMB 296,388,138.05 from RMB 233,502,830.87, suggesting potential growth in sales or production[15] - The company incurred a credit impairment loss of ¥10,420,763.42, contrasting with a gain of ¥7,023,006.16 in the previous year[19] Research and Development - Research and development expenses for the first three quarters of 2021 were ¥66,816,428.93, up 6.52% from ¥62,772,730.40 in the same period of 2020[19] Tax and Other Expenses - The company's tax expenses for the first three quarters of 2021 were ¥40,951,114.65, up from ¥35,744,854.13 in the same period of 2020[21] Non-Recurring Items - The company reported non-recurring gains of ¥2,301,693.16 from government subsidies during the year-to-date period[8] - The company implemented new leasing standards starting from 2021, affecting the financial statements[28]

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥964,898,188.41, representing a 28.12% increase compared to ¥753,149,171.09 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was ¥194,892,768.15, up 26.19% from ¥154,438,507.26 in the previous year[19]. - The net cash flow from operating activities was ¥258,728,969.00, reflecting a 33.88% increase from ¥193,252,734.80 in the same period last year[19]. - The total profit attributable to shareholders for the reporting period is 4,512,850.11[23]. - The company achieved operating revenue of ¥964,898,188.41, representing a year-on-year increase of 28.12%[33]. - The net profit attributable to shareholders reached ¥194,892,768.15, up 26.19% compared to the same period last year[33]. - The total profit for the first half of 2021 was CNY 231,889,676.23, compared to CNY 180,387,220.06 in the first half of 2020, reflecting a growth of 28.5%[92]. - The company reported a comprehensive income of CNY 114,854,273.13 for the current period, indicating positive financial performance[119]. Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥3,798,051,211.82, which is a 5.21% increase from ¥3,610,011,554.78 at the end of the previous year[19]. - The company's total liabilities were RMB 1,587,013,429.50, a slight decrease from RMB 1,569,773,496.59 at the end of 2020, showing a reduction of about 1.1%[84]. - The total equity attributable to shareholders was RMB 2,211,037,782.32, an increase from RMB 2,040,238,058.19 at the end of 2020, indicating a growth of approximately 8.4%[84]. - The company's total assets reached CNY 2,128,554,050.55, demonstrating growth in asset base[116]. - The company's total equity at the end of the reporting period is RMB 1,772,629,124.72, an increase from the previous year's total equity of RMB 806,608,036.05[124]. Cash Flow - The cash inflow from operating activities for the first half of 2021 was CNY 1,011,411,557.69, a 57.3% increase from CNY 642,457,337.97 in the same period of 2020[98]. - The cash inflow from financing activities was CNY 90,000,000.00, a decrease from CNY 993,818,063.57 in the same period last year[102]. - The total cash and cash equivalents at the end of the period were CNY 589,447,137.01, a decrease from CNY 1,020,037,094.78 at the end of the first half of 2020[99]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 16,940[72]. - The largest shareholder, Li Zuoyuan, holds 92,872,828 shares, representing 40.11% of the total shares[75]. - The second-largest shareholder, Xu Nengchen, holds 25,969,680 shares, accounting for 11.22%[75]. - The total number of shares with limited sale conditions at the end of the reporting period is 143,461,105[71]. Business Operations - The company's main business is the research, production, and sales of diesel engine components, with a focus on product sales and entrusted processing[25]. - The company has established long-term stable relationships with major clients such as Foton Cummins and Dongfeng Cummins, which enhances its brand recognition and market expansion capabilities[28]. - The company utilizes an "order-driven" production model, aligning production with actual customer demand[25]. - The company is expanding its customer base with new clients like Guangxi Yuchai, which is expected to further enhance revenue growth[33]. Research and Development - Research and development expenses rose to ¥41,262,541.09, marking an increase of 11.95% as the company intensified its investment in new projects[36]. - Research and development expenses for the first half of 2021 were ¥41,262,541.09, an increase of 12.1% compared to ¥36,857,968.98 in the first half of 2020[91]. Risks and Challenges - The company faces risks related to the cyclical fluctuations in the automotive industry, which significantly impact its revenue from automotive parts manufacturing[48]. - The company is exposed to risks from the price volatility of raw materials, particularly iron ore, which affects the cost of engine component blanks[48]. Corporate Governance - There were significant changes in the board of directors, with multiple resignations and new appointments, including the election of a new chairman and general manager[52]. - The company has no significant litigation or arbitration matters during the reporting period[64]. - The company and its major shareholders have maintained a good integrity status, with no significant debts or court judgments unfulfilled during the reporting period[64]. Environmental and Regulatory Compliance - An environmental penalty of ¥100,000 was imposed due to a violation related to wastewater discharge, which has since been rectified[57]. Future Outlook - The company plans to continue expanding its market presence and investing in new product development to drive future growth[90]. - The company aims to improve its financial performance in the upcoming quarters through strategic initiatives and potential acquisitions[105].

Group 1: Event Details - The event is scheduled for June 24, 2021, from 15:30 to 17:00 [4] - The meeting will be conducted online via the "Panjing Roadshow" platform [4] - The event is part of the "Sincere Communication, Mutual Trust and Win-Win" initiative organized by the Hubei Securities Regulatory Bureau and other associations [3] Group 2: Participation Information - Company representatives include General Manager Ms. Li Congrong, Secretary of the Board Mr. Liu Wangcheng, and Chief Financial Officer Ms. Wang Hongyun [5] - Investors can participate by logging into the specified website on the event date [6] - Investors are encouraged to submit questions by June 23, 2021, to enhance the efficiency of the Q&A session [6] Group 3: Contact Information - Contact phone number: 0710-3062990 [6] - Email for inquiries: cydg2001@126.com [6]

2021 年第一季度报告 公司代码：603950 公司简称：长源东谷 襄阳长源东谷实业股份有限公司 2021 年第一季度报告 | | | | 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 | 3,760,121,761.95 | 3,610,011,554.78 | | 4.16 | | 归属于上市公司 | 2,105,709,694.54 | 2,010,827,770.37 | | 4.72 | | 股东的净资产 | | | | | | | 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 | 125,311,299.73 | 173,656,554.35 | | -27.84 | | 现金流量净额 | | | | | | | 年初至报告期末 | 上年初至上年报告期末 | 比上年同期增减（%） | | | 营业收入 | 508,373,463.98 | 268,245,115.46 | | 89. ...

Financial Performance - In 2020, the company achieved a net profit attributable to shareholders of 314,538,627.08 CNY, representing a 17.01% increase compared to 2019[5]. - The total operating revenue for 2020 was 1,677,984,515.70 CNY, marking a 45.25% increase from 1,155,220,399.34 CNY in 2019[22]. - The company's net assets attributable to shareholders increased by 84.38% to 2,010,827,770.37 CNY at the end of 2020, compared to 1,090,588,513.77 CNY at the end of 2019[22]. - The net cash flow from operating activities for 2020 was 433,995,214.92 CNY, a 69.79% increase from 255,610,974.42 CNY in 2019[22]. - The basic earnings per share for 2020 was 1.52 CNY, a slight decrease of 1.94% from 1.55 CNY in 2019[23]. - The company reported a net profit of 278,820,562.74 CNY after deducting non-recurring gains and losses, which is a 75.08% increase from 159,251,254.12 CNY in 2019[22]. - The total assets of the company at the end of 2020 were 3,610,011,554.78 CNY, reflecting a 32.77% increase from 2,719,026,348.13 CNY in 2019[22]. - The weighted average return on equity for 2020 was 18.57%, down 9.54 percentage points from 28.11% in 2019[23]. - The company achieved operating revenue of CNY 1,677,984,515.70 in 2020, representing a year-on-year growth of 45.25%[45]. - The net profit for the year was CNY 32,072.79 million, an increase of 17.72% compared to the previous year, with the net profit attributable to shareholders of the parent company reaching CNY 31,453.86 million, up 17.01%[45]. Operational Highlights - The company’s main business involves the R&D, production, and sales of diesel engine components, primarily serving major manufacturers like Foton Cummins and Dongfeng Cummins[32]. - The company operates under an "order-driven production" model, tailoring production processes to meet specific customer requirements[32]. - The automotive parts industry is a crucial component of the automotive manufacturing sector, contributing significantly to China's GDP growth[33]. - The company has established long-term stable partnerships with major manufacturers such as Foton Cummins and Dongfeng Cummins, enhancing its brand recognition in the engine parts sector[36]. - The company has developed a flexible production technology for engine components, significantly improving production efficiency and equipment utilization[37]. - The company has invested in advanced equipment from Germany and Japan, ensuring high product quality and meeting customer demands for precision[39]. - The company has implemented a strict quality management system, achieving certifications such as IATF 16949 and ISO14001, which has led to high customer recognition[39]. - The company has successfully launched new projects, including the National VI project with Guangxi Yuchai, contributing to its revenue growth[44]. - The company has adopted smart manufacturing practices, integrating advanced equipment with ERP/PDM systems to enhance operational efficiency[44]. - The company maintained production during the COVID-19 pandemic, ensuring supply stability for critical engine components[43]. Market and Industry Trends - In 2020, the commercial vehicle sales in China reached 5.133 million units, representing a year-on-year growth of 18.7%, with heavy-duty truck sales increasing by 37.9%[35]. - The trend towards high horsepower in commercial vehicles indicates that 400-460 horsepower will be the mainstream power range in the coming years[71]. - The implementation of the new national standards is expected to drive the industry towards lightweight vehicles, enhancing user benefits through reduced fuel consumption[72]. - The company recognizes the challenges posed by the rise of electric vehicles but believes that traditional fuel-powered vehicles will remain dominant in the market for the foreseeable future[72]. Research and Development - Research and development expenses totaled 84,542,853.23 CNY, representing 5.04% of total operating revenue[57]. - The company employed 176 R&D personnel, making up 10% of the total workforce[57]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[160]. Financial Management and Governance - The company has implemented a new revenue recognition standard starting January 1, 2020, which resulted in a reclassification of contract liabilities from "prepayments" to "contract liabilities" on the balance sheet[92]. - The company confirmed that there were no instances of dishonesty or failure to fulfill court judgments by its major shareholders during the reporting period[97]. - The company has established a comprehensive environmental protection system and has passed multiple certifications, including ISO14001 for environmental management[101]. - The company actively engages in clean production practices to minimize pollution and has installed advanced environmental protection equipment[101]. - The company reported that all major pollutants were within the discharge standards during the reporting period[102]. - The company strictly adheres to the requirements of the Company Law and Securities Law, enhancing its corporate governance structure[135]. - There are no penalties from securities regulatory agencies in the past three years[131]. - The company has not granted any stock incentives to directors and senior management during the reporting period[128]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 18,459, an increase from 17,592 at the end of the previous month[111]. - The top shareholder, Li Zuoyuan, holds 40.05% of the shares with a total of 92,722,828 shares, having increased his holdings by 1,271,083 shares during the reporting period[113]. - The second-largest shareholder, Xu Nengchen, holds 11.22% with 25,969,680 shares, all of which are subject to trading restrictions until May 26, 2023[114]. - The company has a total of 91,451,745 restricted shares held by Li Zuoyuan, which will become tradable after 36 months from the listing date[114]. - The company does not have any strategic investors or general corporations among the top 10 shareholders[115]. Future Outlook - The company provided a forward guidance of 10% revenue growth for the next quarter, projecting revenues of approximately $1.32 billion[126]. - Overall, the company remains optimistic about future growth, driven by innovation and market expansion strategies[127].