Financial Performance - In 2022, Shentong Technology achieved a net profit attributable to shareholders of RMB 45,049,806.22, with a cumulative distributable profit of RMB 268,355,054.93 as of December 31, 2022[5]. - The company's operating revenue for 2022 was approximately ¥1.429 billion, representing a 3.64% increase compared to ¥1.379 billion in 2021[25]. - Net profit attributable to shareholders decreased by 52.99% to approximately ¥45.05 million in 2022 from ¥95.83 million in 2021[25]. - The basic earnings per share for 2022 was ¥0.11, down 52.17% from ¥0.23 in 2021[27]. - The total assets at the end of 2022 were approximately ¥2.217 billion, a 5.86% increase from ¥2.094 billion at the end of 2021[25]. - The cash flow from operating activities for 2022 was approximately ¥129.31 million, a decrease of 10.95% from ¥145.20 million in 2021[25]. - The weighted average return on equity decreased to 3.08% in 2022 from 6.91% in 2021, a decline of 3.83 percentage points[27]. - The net profit after deducting non-recurring gains and losses was approximately ¥33.31 million in 2022, down 60.10% from ¥83.47 million in 2021[25]. - The company reported a diluted earnings per share of ¥0.11 for 2022, consistent with the basic earnings per share[27]. Profit Distribution and Shareholder Interests - The company plans not to distribute profits for the 2022 fiscal year to ensure the smooth issuance of convertible bonds while considering shareholder interests[5]. - Independent directors have expressed that the profit distribution plan aligns with legal regulations and does not harm the interests of shareholders, especially minority shareholders[6]. - Shentong Technology is committed to a stable dividend distribution policy, which will be evaluated based on the progress of convertible bond issuance[5]. - The board of directors will consider the company's profitability, cash flow, and development stage when formulating profit distribution plans[136]. - The company plans to distribute cash dividends of at least 10% of the distributable profits if there are no significant investment plans or cash expenditures[133]. - The company will not conduct profit distribution in 2022 to ensure the smooth issuance of convertible bonds[140]. - The company emphasizes the importance of cash dividends and plans to continue returning profits to investors in the future[140]. Corporate Governance - The company has established a robust corporate governance structure, ensuring compliance with relevant laws and regulations[94]. - The board of directors consists of 9 members, including 3 independent directors, promoting responsible decision-making[96]. - The company held 1 annual and 3 temporary shareholder meetings during the reporting period, adhering to legal requirements[94]. - The company is committed to transparency in information disclosure, ensuring timely and accurate communication with stakeholders[96]. - The company has implemented measures to manage insider information and prevent stock price volatility due to information leaks[97]. - The company has established rigorous procedures for related party transactions, ensuring compliance with its articles of association and governance rules[169]. Risk Management and Challenges - The company has outlined potential risks in its annual report, advising investors to review the "Management Discussion and Analysis" section for details[9]. - In 2022, the company faced challenges due to a decline in domestic and international automotive market demand, rising raw material prices, and supply chain disruptions, impacting overall performance[37]. - The automotive parts industry is highly sensitive to macroeconomic cycles, with potential adverse impacts on sales and financial performance if the market continues to decline[89]. - The company faces risks from fluctuations in raw material prices, particularly for plastic particles, which significantly impact production costs[91]. Research and Development - The company plans to invest CNY 577 million in projects related to intelligent cockpit and advanced driver assistance systems, aiming to optimize product structure and create new profit growth points[39]. - The company has developed a new polycarbonate (PC) car window and a new motor stator skeleton technology in response to the automotive electrification trend[44]. - The company aims to strengthen R&D investment, optimize product structure, and collaborate with research institutions to launch high-tech products[85]. - The total R&D expenditure was 83,373,973.17 RMB, which is 5.84% of the operating revenue, with no capitalized R&D expenses[64]. - The company employed 278 R&D personnel, making up 17.84% of the total workforce, with 12 holding master's degrees and 101 holding bachelor's degrees[65]. Market Expansion and Strategy - The company has successfully entered the supply chains of major automotive brands, including Li Auto, Dongfeng Lantu, Toyota, Stellantis, and XPeng, while also expanding into the new energy vehicle sector[39]. - The company is exploring market expansion opportunities in Southeast Asia, targeting a 25% growth in that region by 2024[116]. - The company is focusing on strategic acquisitions to enhance its market position, with plans to acquire at least two companies in the next fiscal year[116]. Employee and Management Incentives - The company implemented an employee stock incentive plan to enhance talent retention and motivation, with 36 individuals granted shares in the initial phase[40]. - The total pre-tax remuneration for the board members and senior management during the reporting period amounted to 745.81 million CNY[102]. - Zhu Chunyu, the General Manager, received a total pre-tax remuneration of 211.53 million CNY and was granted 1,000,000 shares as part of the equity incentive plan[102]. - The company established a comprehensive performance evaluation mechanism for senior management, linking their compensation to annual operating performance[146]. Environmental and Social Responsibility - The company invested 3.7 million yuan in environmental protection during the reporting period[150]. - The company implemented carbon reduction measures, reducing carbon dioxide equivalent emissions by 1,220 tons[156]. - The company has made a total donation of 597,300 yuan to charitable organizations and vocational colleges[158]. - The company adheres to national regulations on energy conservation and environmental protection, striving to build an environmentally friendly enterprise[153].

2022 年第三季度报告 证券代码：605228 证券简称：神通科技 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。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 主要会计数据和财务指标 神通科技集团股份有限公司 2022 年第三季度报告 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： 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比 | | 年初至报告期 | | --- | --- | --- | --- | --- | | | | 上年同期增 | 年初至报告期末 | 末比上年同期 | | | | 减变动幅度 | | 增减变动幅度 | | | | (%) | | (%) | | 营业收入 | 401,685,956.22 | 25.05 | 993,857,620.01 | ...

Financial Performance - The company's operating revenue for the first half of 2022 was ¥592,171,663.79, a decrease of 10.51% compared to ¥661,688,061.15 in the same period last year[19]. - The net profit attributable to shareholders for the first half of 2022 was ¥18,428,385.87, down 64.14% from ¥51,394,770.70 in the previous year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥10,419,457.03, a decline of 77.34% compared to ¥45,991,561.12 in the same period last year[19]. - The net cash flow from operating activities was ¥36,840,199.09, a decrease of 60.87% from ¥94,155,486.17 in the previous year[19]. - Basic earnings per share decreased by 69.23% to CNY 0.04 compared to CNY 0.13 in the same period last year[20]. - Diluted earnings per share also decreased by 69.23% to CNY 0.04 from CNY 0.13 year-on-year[20]. - The weighted average return on equity fell by 2.55 percentage points to 1.26% from 3.81% in the previous year[20]. - The company reported a significant decline in demand due to the impact of the COVID-19 pandemic on downstream customers[20]. - The company reported a total profit of RMB 18,509,630.75, down 67.7% from RMB 57,352,436.19 in the first half of 2021[118]. - The financial expenses showed a net income of RMB -3,370,763.69, compared to RMB -2,007,605.43 in the previous year, indicating a higher financial cost[117]. Assets and Liabilities - The net assets attributable to shareholders at the end of the reporting period were ¥1,443,645,872.85, an increase of 2.58% from ¥1,407,370,586.62 at the end of the previous year[19]. - Total assets at the end of the reporting period were ¥2,086,771,962.20, reflecting a growth of 3.38% from ¥2,018,586,791.22 at the end of the previous year[19]. - The company's cash and cash equivalents decreased by 43.23% to ¥204,903,526.82 from ¥360,944,024.68 in the previous year, mainly due to expenditures on financial products[45]. - The total current assets increased from ¥1,105,357,794.08 to ¥1,132,752,282.97, an increase of about 2.1%[112]. - Total liabilities increased from ¥641,748,011.12 to ¥643,126,089.35, an increase of about 0.2%[110]. - The total owner's equity at the end of the current period is approximately ¥1.44 billion, indicating a growth from the previous period[132]. Research and Development - The company has successfully developed new technologies such as a lightweight polycarbonate window and a new motor stator skeleton technology to meet the trend of automotive electrification[29]. - The company is focusing on the development of intelligent automotive technologies, including a 3D facial recognition algorithm and a multifunctional smart door lock[38]. - The company has established stable partnerships with major automotive manufacturers, including SAIC-GM and BMW, enhancing its profitability and risk resistance[32]. - The company holds a total of 448 patents, including 53 invention patents, indicating strong technological capabilities[35]. - The company's research and development expenses increased by 20.57% to ¥36,375,577.59 from ¥30,170,230.53 in the previous year[43]. Market and Industry Trends - The company anticipates that the total automotive sales in China for 2022 will reach approximately 27 million units, a year-on-year increase of about 3%[28]. - The government has implemented policies to stimulate consumption, including a halving of the vehicle purchase tax, which is expected to further boost market activity[27]. - In June, the automotive industry saw production and sales recover, with production reaching 2.499 million vehicles and sales at 2.502 million vehicles, representing a month-on-month increase of 29.7% and 34.4% respectively[27]. Operational Challenges - The company has faced challenges such as raw material price increases and supply chain disruptions, impacting its operational performance[37]. - The company is under pressure from intense market competition, particularly from foreign and joint-venture firms with greater market share[53]. - The company is exposed to raw material price volatility, particularly for plastic particles, which significantly affect production costs[54]. - The company’s gross margin is at risk due to the competitive pricing pressures from automotive manufacturers[55]. Corporate Governance and Compliance - Liu Jianqiang resigned as the supervisor and chairman of the supervisory board due to personal reasons, with Wu Jinli elected as a new supervisor and Zhang Xi elected as the chairman of the supervisory board[61][62]. - The company has completed the necessary legal procedures for its shareholder meetings, ensuring compliance with relevant regulations[60]. - The company has implemented a restricted stock incentive plan for 2021, with relevant announcements made on December 25, 2021, and subsequent adjustments and grants disclosed in early 2022[64][65]. Shareholder and Equity Management - The company distributed a cash dividend of ¥0.70 per 10 shares, totaling ¥29,718,500.00, based on a total share capital of 424,550,000 shares[40]. - The top five customers accounted for 71.89% of the company's total revenue, indicating a high customer concentration risk[54]. - The company has established measures to ensure the fulfillment of commitments related to compensating diluted immediate returns[75]. - The company will publicly disclose reasons for not taking stabilization measures if applicable, and apologize to shareholders and public investors[75]. Financial Reporting and Accounting Policies - The company adheres to the accounting standards set by the Ministry of Finance, ensuring the financial statements reflect a true and complete picture of its financial status[144]. - The company’s financial statements are prepared based on the principle of continuous operation[141]. - The company recognizes investment income based on cash dividends declared by the invested entity[177]. - The company uses a perpetual inventory system for inventory management[174].

Financial Performance - In 2021, the net profit attributable to shareholders was CNY 95,831,629.01, with cumulative distributable profits reaching CNY 181,797,513.56 as of December 31, 2021[6]. - The company's operating revenue for 2021 was approximately RMB 1.38 billion, a decrease of 7.24% compared to 2020[25]. - The net profit attributable to shareholders for 2021 was approximately RMB 95.83 million, down 18.69% from the previous year[25]. - The net cash flow from operating activities decreased by 38.24% to approximately RMB 145.20 million in 2021[25]. - The basic earnings per share for 2021 was RMB 0.23, a decline of 34.29% compared to 2020[26]. - The weighted average return on equity decreased by 5.89 percentage points to 6.91% in 2021[26]. - The net profit after deducting non-recurring gains and losses was 83,471,700 RMB, a decline of 19.44% from 103,611,400 RMB year-on-year[48]. - The company achieved operating revenue of 1,378,690,663.67 RMB, a decrease of 7.24% compared to the previous year's 1,486,336,159.28 RMB[48]. Dividends and Profit Distribution - The proposed cash dividend for 2022 is CNY 0.70 per 10 shares, totaling CNY 29,718,500.00 to be distributed to all shareholders[6]. - The company distributed cash dividends of 0.85 RMB per 10 shares, totaling 35,700,000 RMB to shareholders based on a total share capital of 420,000,000 shares[37]. - The company has established a cash dividend policy that prioritizes a minimum of 10% of the distributable profits for cash dividends, with higher percentages based on the company's development stage and capital expenditure plans[122][123]. - The company aims for a cash dividend ratio of at least 80% during the mature stage without significant capital expenditures, and at least 40% with significant expenditures[123]. - The board of directors must provide a detailed explanation if no cash dividend is proposed despite positive profits, including the intended use of retained earnings[128]. Corporate Governance - The company is committed to ensuring the authenticity, accuracy, and completeness of the annual report[4]. - The audit report issued by Lixin Certified Public Accountants is a standard unqualified opinion[5]. - The company maintains a complete independence in operations, assets, and finances, with no interference from the controlling shareholder[87]. - The company’s governance structure is in full compliance with the Company Law and relevant regulations, with no significant discrepancies[88]. - The company has established a transparent information disclosure system, adhering to legal requirements for timely and accurate reporting[88]. - The company has implemented strict insider information management to prevent stock price fluctuations due to leaks[88]. - The company has established management systems for insider information and shareholding changes[105]. Research and Development - The company established new subsidiaries to focus on research and development in automotive electrification and intelligence[34]. - The company is developing new products including a 3D facial recognition algorithm and a multifunctional smart lock technology[34]. - The company focuses on R&D for lightweight materials and has successfully developed polycarbonate (PC) windows for vehicles, promoting market adoption[41]. - The total R&D expenditure amounted to ¥65.01 million, representing 4.72% of the company's total revenue[59]. - The company has a total of 350 R&D personnel, making up 16.94% of the total workforce[60]. Market and Industry Trends - The automotive parts manufacturing industry is experiencing rapid growth due to the increasing vehicle ownership and expansion of the automotive parts market in China[38]. - The company anticipates continued growth in the automotive parts industry driven by specialization and efficiency improvements amid increasing competition[74]. - The market share of new energy vehicles in China reached 13.4% in 2021, with production and sales increasing by 1.6 times year-on-year[40]. - The automotive parts industry is expected to shift towards lightweight, electronic, integrated, and modular components to enhance performance and reduce emissions[76]. Risks and Challenges - The company has described potential risks in the "Management Discussion and Analysis" section of the report[11]. - The company faces risks from macroeconomic fluctuations that could impact the automotive industry and, consequently, its sales and financial performance[81]. - The company recognizes the risk of raw material price volatility, particularly for plastic resins, which could affect production costs and profit margins[82]. Shareholder Information - The largest shareholder, Ningbo Shentong Investment Co., Ltd., holds 194,397,178 shares, representing 46.29% of the total shares[178]. - The total number of shares held by the top five shareholders is 334,230,392, which is approximately 79.82% of the total shares[178]. - The company has a total of 3,022,223 shares held by Ningbo Shouke Yanyuan Kangtai Venture Capital Partnership, which will become tradable on January 20, 2022[182]. Internal Controls and Compliance - The internal control system has been continuously improved to enhance decision-making efficiency and ensure compliance and asset safety[134]. - The internal control audit report issued by the accounting firm confirmed the effectiveness of the internal control system with a standard unqualified opinion[136]. - The company has not encountered any non-standard audit opinions from its accounting firm, reflecting sound financial practices[153]. - The company has committed to avoiding related party transactions and ensuring strict compliance with financial management systems[12]. Employee Management and Incentives - The company has implemented a restricted stock incentive plan to enhance employee motivation and retain talent, with 36 individuals granted shares[36]. - The company has a structured compensation policy that includes basic salaries and performance-based bonuses, designed according to different departments and positions[118]. - The company emphasizes employee training to enhance skills and job adaptability, viewing employees as valuable assets[140]. Investment and Financial Management - The company raised approximately RMB 471.20 million from its initial public offering, with a net amount of RMB 412.15 million after deducting issuance costs[33]. - The company has engaged in cash asset management, with a total investment of RMB 265,600,000 in bank financial products, with no overdue amounts[163]. - The company has a fixed income investment of RMB 50,000,000 with a 4.37% annualized return, which has been fully recovered[163]. Future Outlook - The company plans to expand its market presence, particularly in the Japanese and European markets, while also focusing on the new energy vehicle sector[77]. - Future outlook remains cautiously optimistic, pending further details on market conditions and product launches[97].

Revenue and Profitability - Revenue for Q1 2022 was CNY 325,428,255.99, a decrease of 4.57% compared to the same period last year[5] - Net profit attributable to shareholders was CNY 17,792,869.96, down 39.44% year-on-year[5] - Basic earnings per share decreased by 42.86% to CNY 0.04[5] - Total operating revenue for Q1 2022 was ¥325,428,255.99, a decrease of 4.9% from ¥341,024,197.21 in Q1 2021[19] - Operating profit for Q1 2022 decreased to ¥18,856,080.96, down 44.8% from ¥34,260,372.17 in Q1 2021[20] - Net profit for Q1 2022 was ¥17,792,869.96, a decline of 38.9% compared to ¥29,101,802.29 in Q1 2021[21] - Basic and diluted earnings per share for Q1 2022 were both ¥0.04, down from ¥0.07 in Q1 2021[21] Cash Flow and Liquidity - Net cash flow from operating activities was CNY 13,725,883.73, a decline of 40.11% compared to the previous year[5] - Cash flow from operating activities for Q1 2022 was ¥13,725,883.73, a decrease of 40.0% from ¥22,917,051.42 in Q1 2021[24] - Cash inflow from operating activities totaled ¥435,283,205.31, down from ¥450,715,459.58 in Q1 2021[24] - Cash outflow from operating activities was ¥421,557,321.58, slightly reduced from ¥427,798,408.16 in Q1 2021[24] - The net increase in cash and cash equivalents was -$80.35 million, contrasting with an increase of $108.42 million in the prior period, indicating a cash depletion[25] - The ending balance of cash and cash equivalents was $248.77 million, down from $293.64 million in the previous period, highlighting a liquidity reduction[25] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,061,346,963.78, a decrease of 1.56% from the end of the previous year[6] - Total current assets were RMB 1,186,570,439.00, down from RMB 1,225,459,761.55, indicating a decrease of about 3.18%[15] - Total liabilities were RMB 591,079,278.22, down from RMB 640,858,918.18, showing a decrease of approximately 7.73%[17] - The company's total liabilities and equity totaled RMB 2,061,346,963.78, consistent with the total assets reported[17] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 21,502[10] - The largest shareholder, Ningbo Shentong Investment Co., Ltd., held 45.79% of the shares[11] - Shareholders' equity attributable to shareholders increased by 1.24% to CNY 1,470,267,685.56[6] - The company's equity attributable to shareholders increased to RMB 1,470,267,685.56 from RMB 1,452,254,187.93, reflecting a growth of about 1.24%[17] Investment Activities - The company experienced a 100% increase in trading financial assets due to the purchase of bank wealth management products[9] - Investment cash inflow for Q1 2022 included ¥144,200,000.00 from recovered investments, significantly up from ¥60,110,000.00 in Q1 2021[24] - Cash inflow from investment activities totaled $144.71 million, while cash outflow was $260.48 million, resulting in a negative cash flow from investments[25] Research and Development - Research and development expenses for Q1 2022 increased to ¥17,969,536.41, up 23.4% from ¥14,597,891.13 in Q1 2021[20] Foreign Exchange and Accounting Standards - The company experienced a foreign exchange impact of -$212.90 thousand on cash and cash equivalents, reflecting currency fluctuations[25] - The company is not applying the new accounting standards for the current year, which may affect future financial reporting[25]

Financial Performance - The company's operating revenue for Q3 2021 was ¥321,227,533.97, a decrease of 22.85% compared to the same period last year[5]. - The net profit attributable to shareholders for Q3 2021 was ¥17,352,752.52, down 54.51% year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥15,077,120.24, reflecting a decline of 58.25% compared to the previous year[5]. - Basic earnings per share for Q3 2021 were ¥0.04, a decrease of 66.67% from the same period last year[6]. - Total revenue for the first three quarters of 2021 was CNY 982,915,595.12, a decrease of 1.1% compared to CNY 994,989,482.50 in the same period of 2020[19]. - Net profit for Q3 2021 was ¥68.23 million, down from ¥83.17 million in Q3 2020, indicating a decrease of approximately 18%[21]. - The total profit for Q3 2021 was ¥76.74 million, down from ¥98.60 million in Q3 2020, reflecting a decrease of about 22.14%[21]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,970,301,732.60, an increase of 2.79% from the end of the previous year[6]. - As of September 30, 2021, total assets amounted to CNY 1,970,301,732.60, an increase from CNY 1,916,730,225.76 at the end of 2020[17]. - Current assets totaled CNY 1,113,738,556.09, slightly up from CNY 1,109,056,314.25 at the end of 2020[15]. - Total liabilities decreased to CNY 544,570,846.62 from CNY 935,466,283.60 at the end of 2020, a reduction of 41.8%[17]. - Shareholders' equity attributable to the parent company increased by 45.43% to ¥1,424,687,423.52 due to the issuance of new shares[9]. - Shareholders' equity increased to CNY 1,425,730,885.98 from CNY 981,263,942.16 at the end of 2020, reflecting a growth of 45.2%[17]. - The company reported a decrease in accounts payable to CNY 272,594,059.15 from CNY 424,940,886.64 at the end of 2020, a decline of 35.9%[16]. Cash Flow - Cash flow from operating activities for the year-to-date was ¥78,459,169.42, an increase of 41.07% compared to the same period last year[6]. - Cash flow from operating activities for the first nine months of 2021 was ¥78.46 million, an increase from ¥55.62 million in the same period of 2020, showing a growth of approximately 41%[24]. - Cash flow from investing activities for the first nine months of 2021 was negative at ¥288.88 million, compared to a negative cash flow of ¥64.06 million in the same period of 2020, indicating a significant increase in investment outflows[24]. - Cash flow from financing activities for the first nine months of 2021 was positive at ¥155.18 million, contrasting with a negative cash flow of ¥34.55 million in the same period of 2020, showing a turnaround in financing[24]. Operating Costs and Expenses - Total operating costs for Q3 2021 were approximately ¥905.82 million, an increase from ¥895.26 million in Q3 2020, representing a growth of about 1.75%[20]. - Research and development expenses for Q3 2021 were ¥45.39 million, an increase from ¥36.01 million in Q3 2020, indicating a growth of approximately 26%[20]. - The company experienced a decrease in tax expenses for Q3 2021, amounting to ¥8.50 million, compared to ¥15.43 million in Q3 2020, indicating a reduction of approximately 44.5%[21]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 25,029[10]. - Cash and cash equivalents at the beginning of the period were $185,221,450.58, compared to $151,755,683.02 in the previous year[25]. - Cash and cash equivalents at the end of the period were $129,350,064.01, an increase from $108,908,251.77 year-over-year[25]. Other Information - The company has not disclosed any significant new product developments or market expansion strategies in the report[14]. - There are no significant reminders or additional important information regarding the company's operational situation during the reporting period[14]. - The company has adopted new leasing standards starting in 2021, but this does not apply to the current financial report[25].

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥661,688,061.15, representing a 14.35% increase compared to ¥578,630,304.55 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was ¥51,394,770.70, up 12.22% from ¥45,797,175.83 in the previous year[18]. - The net cash flow from operating activities surged to ¥94,155,486.17, a significant increase of 312.96% compared to ¥22,799,951.26 in the same period last year[18]. - The net profit after deducting non-recurring gains and losses was ¥45,991,561.12, reflecting a 19.04% increase from ¥38,634,889.52 in the same period last year[18]. - Operating costs rose to ¥509,392,102.01, reflecting a 16.94% increase from ¥435,594,242.86 year-on-year[38]. - The company reported a gross profit margin of approximately 8.3% for the first half of 2021, compared to 7.5% in the same period of 2020[106]. Assets and Liabilities - Total assets rose by 5.31% to ¥2,018,586,791.22 from ¥1,916,730,225.76 at the end of the previous year[18]. - The company's total assets decreased slightly to ¥1,794,351,678.75 from ¥1,823,175,397.40, a decline of 1.58%[104]. - Total liabilities decreased to ¥610,028,539.47 from ¥935,466,283.60, a reduction of about 34.7%[100]. - The total liabilities at the end of the reporting period were CNY 498,571,506.13, indicating the company's financial obligations[124]. - The company's equity attributable to shareholders increased to RMB 1,407,370,586.62 from RMB 979,620,385.44, marking a rise of approximately 43.6%[100]. Research and Development - Research and development expenses increased by 32.97% to ¥30,170,230.53 from ¥22,689,107.99 in the previous year[38]. - The company has increased its R&D investment to foster innovation and develop new technologies and products[34]. - The company has developed a new electric motor skeleton technology and is actively promoting its application and product marketing[26]. Market and Industry Trends - In the first half of 2021, China's automotive industry produced and sold 12.569 million and 12.891 million vehicles, respectively, representing year-on-year growth of 24.2% and 25.6%[23]. - The penetration rate of new energy vehicles increased from 5.4% at the beginning of the year to 9.4% in the first half, with over 1 million pure electric vehicles sold[24]. - The automotive chip shortage is expected to peak in Q2 2021, with a gradual recovery anticipated in the second half of the year[24]. Corporate Governance and Management - The company did not propose any profit distribution plan or capital reserve transfer to increase share capital during this reporting period[5]. - There were significant changes in management, with the appointment of Zhu Chunyu as the new General Manager following the resignation of several key executives[57]. - The company has received commitments from major shareholders to avoid any competition with its business[72]. Shareholder Information - The largest shareholder, Ningbo Shentong Investment Co., Ltd., holds 194,397,178 shares, representing 46.29% of the total shares[90]. - The total number of shares held by the top five shareholders is 346,151,613, which constitutes 77.90% of the total shares[90]. - The company has a lock-up period of 36 months for shares held by directors and senior management, during which they cannot transfer or manage these shares[70]. Environmental and Social Responsibility - The company adheres to the vision of "making cars lighter and more environmentally friendly," strictly following national laws and regulations on energy conservation and emission reduction[62]. - The company has committed to maintaining a harmonious development with society and nature by continuously improving its environmental protection technology[62]. Financial Management and Internal Controls - The company has established strict internal controls for financial management, ensuring no significant impacts on the integrity of its financial management system[73]. - The company has not faced any major litigation or arbitration matters during the reporting period[76]. - The company has not reported any violations or penalties against its directors, supervisors, senior management, or controlling shareholders[76].

Financial Performance - In 2020, Shentong Technology achieved a net profit attributable to shareholders of 117,863,853.00 RMB, with a cumulative distributable profit of 187,829,397.42 RMB as of December 31, 2020[5]. - The company's operating revenue for 2020 was approximately ¥1.49 billion, a decrease of 6.53% compared to ¥1.59 billion in 2019[22]. - Net profit attributable to shareholders was approximately ¥117.86 million, reflecting a 3.00% increase from ¥114.43 million in 2019[22]. - The net profit after deducting non-recurring gains and losses was approximately ¥103.61 million, down 3.76% from ¥107.66 million in 2019[22]. - The company's total assets at the end of 2020 were approximately ¥1.92 billion, an increase of 4.02% from ¥1.84 billion at the end of 2019[22]. - Basic earnings per share for 2020 were ¥0.35, a 2.94% increase from ¥0.34 in 2019[23]. - The weighted average return on equity decreased to 12.80%, down 1.42 percentage points from 14.22% in 2019[23]. - The company's gross margin decreased by 2.54% due to the reclassification of sales-related warehousing and transportation costs to operating costs[51]. - The company reported a decrease in inventory to RMB 262,538,834.28 from RMB 271,919,874.49, which is a decline of approximately 3.5%[174]. - The net cash flow from operating activities increased by 54.43% to approximately ¥235.11 million, compared to ¥152.25 million in 2019[22]. Dividend Policy - The proposed cash dividend for 2020 is 0.85 RMB per 10 shares, totaling 35,700,000.00 RMB to be distributed to all shareholders[5]. - The company has a cash dividend policy that prioritizes stable and sustainable returns to investors, with a minimum cash distribution of 10% of distributable profits if no major investments are planned[81]. - In mature stages without significant capital expenditures, the company aims for cash dividends to constitute at least 80% of profit distribution[81]. - The company’s profit distribution plan for 2020 is subject to approval at the annual general meeting[86]. - The company has committed to maintaining a share repurchase policy that complies with legal and transparent conditions[85]. Research and Development - The company has a total of 336 patents, including 32 invention patents, 298 utility model patents, and 6 design patents, showcasing its strong R&D capabilities[39]. - The total R&D investment amounted to 55,011,745.21 yuan, representing 3.70% of the operating income[56]. - The company aims to enhance its R&D investment to optimize product structure and upgrade products, focusing on high-tech, high-value-added products[72]. - Research and development expenses were CNY 55,011,745.21 in 2020, down from CNY 70,302,973.89 in 2019, suggesting a potential shift in R&D focus[181]. Market and Competition - The company operates in the automotive parts sector, focusing on interior and exterior decorative components and engine peripheral parts[12]. - The automotive market in 2020 saw a total sales volume of 25,311,000 vehicles, with a year-on-year decline of 1.9%[63]. - The company is exposed to market competition risks due to a large number of domestic automotive parts manufacturers and the need for continuous technological investment[76]. - The company plans to expand its market presence in both domestic and international markets, particularly targeting the Japanese and European markets, while also entering the new energy vehicle market[72]. Corporate Governance - The company has established a comprehensive governance structure, including a board of directors with 9 members, of which 3 are independent directors[150]. - The company emphasizes compliance with laws and regulations, ensuring the protection of shareholder rights[111]. - The company has implemented strict management of insider information to prevent stock price fluctuations due to leaks[155]. - The company has established strict procedures for managing related party transactions and has not provided any external guarantees since its establishment[97]. Financial Health - The company's total liabilities decreased to RMB 935,466,283.60 from RMB 978,253,540.66, a reduction of approximately 4.4%[175]. - Shareholders' equity increased to RMB 981,263,942.16 from RMB 864,476,885.37, reflecting a growth of about 13.5%[175]. - The company’s retained earnings increased to RMB 326,459,139.95 from RMB 217,644,111.24, representing a growth of approximately 49.9%[175]. - The company reported a significant reduction in sales expenses to CNY 30,560,523.84 in 2020 from CNY 73,246,657.22 in 2019, indicating cost-cutting measures[181]. Operational Efficiency - The company employs a "sales-driven production" model, aligning production plans with monthly sales forecasts based on customer orders[36]. - The company has implemented strict supplier evaluation procedures, dynamically assessing supplier performance annually based on product quality and delivery times[32]. - The company has invested in advanced production equipment, including large-scale injection molding machines and various welding technologies, enhancing production efficiency[37]. - The company will implement lean production and automation strategies to improve operational efficiency and reduce costs[73]. Shareholder Relations - The company has committed to protecting the rights of minority shareholders in any profit distribution adjustments[86]. - The board must fully consider the opinions of minority shareholders and independent directors when adjusting profit distribution policies[86]. - The company must provide online voting options for minority shareholders during the general meeting to facilitate their participation[86]. - The company has established a structured decision-making process for profit distribution, involving the board and shareholders[83]. Compliance and Internal Controls - The company has committed to strengthening financial internal controls and preventing major shareholders from misappropriating company funds[98]. - The company did not report any major deficiencies in internal control during the reporting period[155]. - The audit report confirmed that the financial statements fairly reflect the company's financial position as of December 31, 2020[158]. - The company has no penalties from securities regulatory agencies in the past three years, indicating a clean compliance record[141].

Financial Performance - Operating revenue for the period reached CNY 341,024,197.21, a 48.14% increase compared to the same period last year[7] - Net profit attributable to shareholders rose by 70.67% to CNY 29,378,276.62 year-on-year[7] - Basic earnings per share increased by 40.00% to CNY 0.07[7] - Diluted earnings per share also increased by 40.00% to CNY 0.07[7] - Operating revenue rose by 48.14% to ¥341,024,197.21, attributed to improved market conditions following the COVID-19 pandemic[16] - Operating profit for Q1 2021 reached ¥34,260,372.17, up 58.2% from ¥21,665,575.03 in the same period last year[30] - Net profit attributable to shareholders for Q1 2021 was ¥29,378,276.62, a significant increase of 70.7% compared to ¥17,213,675.58 in Q1 2020[31] - The total comprehensive income for Q1 2021 was ¥28,950,586.98, compared to ¥16,869,243.26 in Q1 2020, marking a 71.5% increase[31] Assets and Equity - Total assets increased by 10.17% to CNY 2,111,582,689.72 compared to the end of the previous year[7] - Net assets attributable to shareholders increased by 45.06% to CNY 1,421,058,214.39 year-on-year[7] - The company's total equity increased by 44.95% to ¥1,422,364,810.65, driven by the capital raised from the IPO[15] - Total equity rose to CNY 1,422,364,810.65, compared to CNY 981,263,942.16, marking an increase of approximately 45.0%[23] - The company’s total assets increased significantly, with current assets totaling ¥1,312,466,707.63 as of March 31, 2021[21] Cash Flow - Net cash flow from operating activities increased by 313.07% to CNY 22,917,051.42 compared to the same period last year[7] - The net cash flow from operating activities for Q1 2021 was ¥22,917,051.42, significantly up from ¥5,547,917.87 in Q1 2020, marking a 313.5% increase[35] - Cash inflows from financing activities reached ¥436,902,400.00 in Q1 2021, a significant increase from ¥59,691,375.15 in Q1 2020[36] - The net cash flow from financing activities improved to ¥190,969,638.24 in Q1 2021, compared to -¥26,250,177.62 in Q1 2020[36] Costs and Expenses - Operating costs increased by 53.94% to ¥259,254,977.47, primarily due to higher sales revenue[16] - The total operating costs for Q1 2021 were ¥307,884,632.78, up 44.5% from ¥213,019,906.76 in Q1 2020[30] - Research and development expenses for Q1 2021 totaled ¥14,597,891.13, which is an increase of 24.1% from ¥11,721,427.75 in Q1 2020[30] - The company reported a decrease in financial expenses, showing a net financial income of ¥1,849,502.44 in Q1 2021 compared to an expense of ¥2,697,703.74 in Q1 2020[30] Shareholder Information - The total number of shareholders reached 38,332 by the end of the reporting period[11] - The company received government subsidies amounting to CNY 4,199,641.78 related to normal business operations[9] Liabilities - Total liabilities decreased to CNY 689,217,879.07 from CNY 935,466,283.60, a reduction of about 26.4%[23] - The company reported a decrease in short-term borrowings to CNY 100,000.00 from CNY 221,446,204.28, a reduction of approximately 99.5%[27] - The total current liabilities decreased to CNY 650,877,516.44 from CNY 899,832,975.45, a decline of about 27.6%[22]