Financial Performance - The company's operating revenue for Q1 2024 was ¥490,245,147.13, representing a year-on-year increase of 15.95%[4] - Net profit attributable to shareholders for the same period was ¥77,368,318.44, showing a significant increase of 103.54% compared to the previous year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥76,279,122.94, reflecting a growth of 136.64% year-on-year[4] - The basic earnings per share for Q1 2024 was ¥0.31, an increase of 93.75% compared to the same period last year[4] - Total operating revenue for Q1 2024 reached ¥490,245,147.13, a 15.9% increase from ¥422,824,180.76 in Q1 2023[19] - Net profit for Q1 2024 was ¥77,368,318.44, representing a 103.5% increase compared to ¥38,012,034.58 in Q1 2023[20] - Basic and diluted earnings per share for Q1 2024 were both ¥0.31, compared to ¥0.16 in Q1 2023[21] - Total profit for Q1 2024 was ¥94,152,021.97, up from ¥48,594,714.78 in Q1 2023[20] Assets and Liabilities - The total assets at the end of Q1 2024 were ¥4,237,398,378.84, a decrease of 7.41% from the end of the previous year[5] - The company's current assets totaled RMB 1,856,966,599.62, down from RMB 2,207,745,111.52, indicating a decrease of about 16%[14] - Accounts receivable decreased to RMB 1,046,783,186.66 from RMB 1,506,841,124.80, representing a decline of approximately 30.5%[14] - The company's cash and cash equivalents were reported at RMB 190,330,063.05, down from RMB 214,591,012.92, a decrease of about 11.3%[14] - Total liabilities decreased to RMB 1,980,617,119.39 from RMB 2,390,967,091.56, reflecting a reduction of approximately 17.2%[16] - The equity attributable to shareholders increased to RMB 2,256,781,259.45 from RMB 2,185,379,360.82, marking an increase of about 3.3%[16] Cash Flow - The net cash flow from operating activities was negative at -¥4,640,350.32, a decline of 124.32% year-on-year[4] - Cash flow from operating activities for Q1 2024 was negative at -¥4,640,350.32, down from ¥19,082,163.61 in Q1 2023[23] - The company received cash inflows from operating activities totaling ¥671,609,257.21 in Q1 2024, compared to ¥492,644,421.71 in Q1 2023[22] - Cash outflows from financing activities in Q1 2024 amounted to ¥175,007,832.95, compared to ¥168,863,432.28 in Q1 2023[23] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 10,688[11] Research and Development - The company incurred R&D expenses of ¥14,637,566.36 in Q1 2024, an increase from ¥12,284,389.39 in Q1 2023[19] Other Financial Metrics - The weighted average return on equity was 3.48%, an increase of 1.35 percentage points compared to the previous year[4] - The company reported non-recurring gains of ¥1,089,195.50 for the period[7] - The company reported a significant increase in financing receivables, rising to RMB 193,582,232.40 from RMB 71,386,582.34, an increase of approximately 171.5%[14] - Inventory levels slightly increased to RMB 332,161,133.63 from RMB 326,451,498.86, a rise of about 1.3%[14] - The company’s short-term borrowings remained relatively stable at RMB 580,475,462.33 compared to RMB 580,581,749.98, showing a negligible change[15] - The company’s retained earnings increased to RMB 963,538,927.38 from RMB 886,170,608.94, reflecting an increase of approximately 8.7%[16]

无锡市振华汽车部件股份有限公司 2023 年年度股东大会会议资料 无锡市振华汽车部件股份有限公司 目 录 | 2023 年年度股东大会须知 1 | | --- | | 2023 年年度股东大会会议议程 3 | | 议案一 公司 2023 年度监事会工作报告 5 | | 议案二 公司 2023 年度董事会工作报告 6 | | 议案三 关于公司 2023 年度财务决算报告的议案 7 | | 议案四 2023 年年度报告及其摘要 8 | | 议案五 关于公司 2023 年年度利润分配预案的议案 9 | | 议案六 关于修订《公司章程》的议案 10 | | 议案七 关于公司及全资子公司向金融机构申请综合授信额度并为综合授信额 | | 度提供担保的议案 15 | | 议案八 关于续聘公司 2024 年度审计机构的议案 16 | | 议案九 关于公司第三届董事会独立董事津贴的议案 17 | | 议案十 关于公司第三届董事会非独立董事、第三届监事会监事薪酬的议案 . 18 | | 议案十一 关于选举公司第三届董事会非独立董事的议案 19 | | 议案十二 关于选举公司第三届董事会独立董事的议案 21 | | 议案十三 关于 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company is an experienced parts manufacturer, benefiting from stable development with SAIC passenger vehicles. The main business segments, including automotive parts stamping and welding, are expected to achieve rapid growth due to customer expansion and increased downstream demand [6][9] - The company has optimized its customer structure, with the proportion of new energy sales expected to exceed 50% in 2024, up from 30% in 2023. This shift is anticipated to drive revenue growth [8][9] - The company has established nine production bases, enhancing its ability to support key customers and reduce communication and transportation costs [11] Financial Performance - In 2023, the company achieved revenue of 2.317 billion yuan, a year-on-year increase of 23.19%, and a net profit of approximately 277 million yuan, up 71.23% year-on-year. The net profit margin improved significantly, reaching 11.97% [9][23] - The company forecasts revenues of 2.931 billion, 3.546 billion, and 4.185 billion yuan for 2024, 2025, and 2026, respectively, with year-on-year growth rates of 27%, 21%, and 18% [6][12] - The earnings per share (EPS) are projected to be 1.47, 1.78, and 2.08 yuan for the years 2024, 2025, and 2026, respectively, with corresponding price-to-earnings (P/E) ratios of 13.63, 11.21, and 9.60 [12][26] Market Data - As of April 19, 2024, the company's current stock price is 19.98 yuan, with a market capitalization of approximately 5,004.63 million yuan [2][26] - The stock has a 52-week price range of 13.97 to 25.18 yuan, indicating potential volatility [2]

Summary of Wuxi Zhenhua Conference Call Company Overview - **Company**: Wuxi Zhenhua - **Fiscal Year**: 2023 - **Revenue**: 2.31 billion CNY, up 23.19% year-on-year [1] - **Net Profit**: 277 million CNY, up 71.23% year-on-year; Non-recurring net profit: 266 million CNY, up 266.43% [2] - **Operating Cash Flow**: 422 million CNY, up 1042.92% [2] - **Total Assets**: 4.576 billion CNY, up 29.2% year-on-year [3] - **Net Assets**: 2.185 billion CNY, up 9.89% year-on-year [3] - **Debt Ratio**: 52.25% [3] - **Return on Equity (ROE)**: 13.19%, up 4.75 percentage points year-on-year [3] - **Earnings Per Share (EPS)**: 1.1 CNY, up 70.77% year-on-year [3] - **Dividend**: 3.8 CNY per 10 shares, total cash dividend of approximately 94.73 million CNY, accounting for 41% of net profit [4] Business Segments - **Revenue Breakdown**: - Stamping Parts: 40.94% - Assembly Processing: 25.53% - Selective Precision Plating: 6.61% - Moulds: 5.54% - Others: 7.41% [5] Key Growth Drivers - **Automotive Industry Growth**: Significant revenue growth attributed to the booming automotive industry, particularly in the plating business, which exceeded expectations with 150 million CNY in revenue and 90 million CNY in net profit [7] - **Customer Base Expansion**: Increased market share among downstream customers, particularly SAIC Motor and Tesla, contributing to overall performance [7][16] Profitability Insights - **Gross Margin Improvement**: The gross margin for assembly processing increased by 8 percentage points compared to 2022, driven by scale effects and production capacity enhancements [9] - **Future Margin Expectations**: Anticipated further improvements in gross margins for stamping parts due to better customer structure and reduced raw material volatility [11][14] Customer Structure - **Top Customers**: - SAIC Motor: 50% of revenue - Tesla: 13% - General Motors: 8% - United Electronics: 5% - Li Auto: 3% [15][16] - **Future Projections**: Expected growth in revenue from new energy vehicle customers, with significant contributions anticipated from Tesla and Xiaomi in 2024 [13][22] Market Outlook - **2024 Revenue Growth**: Projected revenue increase of approximately 500 million CNY, driven by growth from SAIC Motor, Tesla, Li Auto, and Xiaomi [23] - **Long-term Growth**: Anticipated annual growth of 10-15% in the plating business, with a stable market outlook [31] Raw Material Impact - **Raw Material Pricing**: New energy vehicle manufacturers have a more stable gross margin compared to traditional automakers due to better alignment with raw material price fluctuations [20][27] Expansion Plans - **New Facilities**: Ongoing capital expenditures for new facilities, including a second phase in Zhengzhou and potential expansion in Shanghai [41][44] - **International Expansion**: Discussions regarding potential factory establishment in Mexico to support North American operations, contingent on favorable economic conditions [45][46] Conclusion - **Overall Performance**: Wuxi Zhenhua has demonstrated strong financial performance with significant growth in revenue and profit, driven by strategic customer relationships and market expansion in the automotive sector. Future growth is expected to continue, supported by new energy vehicle trends and operational efficiencies.

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无锡市振华汽车部件股份有限公司 章程 二〇二四年 1 第五条 公司住所：无锡市滨湖区胡埭镇陆藕东路188号，邮政编码214161。 | 第一章 | 总则 | 3 | | --- | --- | --- | | 第二章 | | 经营宗旨和范围 4 | | 第三章 | 股份 | 4 | | 第一节 | | 股份发行 4 | | 第二节 | | 股份增减和回购 5 | | 第三节 | | 股份转让 6 | | 第四章 | | 股东和股东大会 7 | | 第一节 | | 股东 7 | | 第二节 | | 股东大会的一般规定 9 | | | | 第三节股东大会的召集 12 | | 第四节 | | 股东大会的提案与通知 13 | | 第五节 | | 股东大会的召开 14 | | 第六节 | | 股东大会的表决和决议 17 | | 第五章 | 董事会 | 22 | | 第一节 | | 董事 22 | | 第二节 | | 董事会 25 | | 第六章 | | 总经理及其他高级管理人员 29 | | 第七章 | 监事会 | 31 | | 第一节 | | 监事 31 | | 第二节 | | 监事会 31 | | 第八章 | | ...

无锡市振华汽车部件股份有限公司 2023 年度财务决算报告 在公司董事会的领导下,经过公司管理层和全体员工的不懈努力，2023 年公 司的经营工作稳健有序。报告期内，公司实现营业收入 231,698.37 万元，同比增 长 23.19%；实现利润总额 34,671.81 万元，同比增长 76.53%；实现归属于母公司 股东的净利润 27,723.75 万元，同比增长 71.23%。公司 2023 年 12 月 31 日的合 并及母公司资产负债表、2023 年度的合并及母公司利润表、现金流量表、股东权 益变动表以及财务报表附注已经天健会计师事务所（特殊普通合伙）审计并出具 了标准无保留意见的审计报告。公司 2023 年 12 月 31 日的财务状况以及 2023 年 度的经营成果和现金流量的基本情况简述如下： 一、 财务状况 | 项目 | 报告期末 | | 报告期初 | | | --- | --- | --- | --- | --- | | | 金额 | 占总资产 | 金额 | 占总资产 | | | | 比重 | | 比重 | | 货币资金 | 21,459.10 | 4.69% | 14,110.07 | 3 ...

目 录 | 一、审计报告……………………………………………………… 第 1—6 | | | 页 | | | --- | --- | --- | --- | --- | | 二、财务报表……………………………………………………… 第 7—14 | | | 页 | | | （一）合并资产负债表…………………………………………… | 第 | 7 | 页 | | | （二）母公司资产负债表………………………………………… | 第 | 8 | 页 | | | （三）合并利润表………………………………………………… 第 | | 9 | | 页 | | （四）母公司利润表………………………………………………第 | 10 | | 页 | | | （五）合并现金流量表……………………………………………第 | 11 | | 页 | | | （六）母公司现金流量表…………………………………………第 | 12 | | 页 | | | （七）合并所有者权益变动表……………………………………第 | 13 | | 页 | | | （八）母公司所有者权益变动表…………………………………第 | 14 | | 页 | | | | | 审 计 报 ...

== ZhOlix 2023 环境 | 社会及治理(ESG)报告 ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORTING ZhObX WUXI ZHENHUA AUTO PARTS CO., LTD. 无锡市振华汽车部件股份有限公司 (股票代码:605319) 目 录 / CONTENTS 前言 01 | 01 关于本报告 | 03 | | --- | --- | | · · 报告概览 | 03 | | · 编制依据 | 03 | | · · 报告范围 | 04 | | · 数据来源 | 04 | | · 意见回馈 | 04 | | 02 关于振华 | 05 | | · 生产基地 | 05 | 03 可持续发展体系 08 | · 环境、社会及治理架构 | 08 | | --- | --- | | • 可持续发展目标 | 09 | 04 利益相关者沟通 10 05 重要性评估 II | 06 环保振华 | 13 | | --- | --- | | · 绿色运营 | 14 | | 1 污染气体排放管理 | 14 | | 2 废弃物管理 | 16 | | 3 废水管 ...

目 录 一、内部控制审计报告…………………………………………第 1—2 页 内部控制审计报告 天健审〔2024〕1732 号 无锡市振华汽车部件股份有限公司全体股东： 第 1 页 共 2 页 范》和相关规定在所有重大方面保持了有效的财务报告内部控制。 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求，我 们审计了无锡市振华汽车部件股份有限公司（以下简称无锡振华公司）2023 年 12 月 31 的财务报告内部控制的有效性。 一、企业对内部控制的责任 按照《企业内部控制基本规范》《企业内部控制应用指引》以及《企业内部 控制评价指引》的规定，建立健全和有效实施内部控制，并评价其有效性是无锡 振华公司董事会的责任。 二、注册会计师的责任 我们的责任是在实施审计工作的基础上，对财务报告内部控制的有效性发表 审计意见，并对注意到的非财务报告内部控制的重大缺陷进行披露。 三、内部控制的固有局限性 内部控制具有固有局限性，存在不能防止和发现错报的可能性。此外，由于 情况的变化可能导致内部控制变得不恰当，或对控制政策和程序遵循的程度降低， 根据内部控制审计结果推测未来内部控制的有效性具有一定风险。 四、财务报告 ...