Financial Performance - The company's operating revenue for Q1 2023 was CNY 4,301,581,107.48, representing a decrease of 0.41% compared to the same period last year[5]. - The net profit attributable to shareholders of the listed company was a loss of CNY 27,316,400.12, reflecting a decline of 164.25% year-on-year[5]. - The basic earnings per share for the period was -CNY 0.03, a decrease of 175.00% compared to the same period last year[5]. - The weighted average return on net assets was -0.45%, a decrease of 1.13 percentage points year-on-year[5]. - The net profit for Q1 2023 was a loss of approximately ¥60.68 million, compared to a profit of ¥22.55 million in Q1 2022[20]. - The company reported a total comprehensive loss of approximately ¥59.33 million in Q1 2023, compared to a loss of ¥4.53 million in Q1 2022[21]. - The net profit attributable to the parent company decreased to RMB 1,196,645,049.86 from RMB 1,223,961,449.98 year-on-year[17]. Cash Flow - The net cash flow from operating activities was a negative CNY 365,165,733.65, indicating a significant cash outflow[5]. - The net cash flow from operating activities for Q1 2023 was -66,206,775.78, a significant decline from 210,373,121.20 in Q1 2022[32]. - The company's cash and cash equivalents decreased to RMB 2,587,060,152.04 from RMB 3,342,532,124.18 year-on-year[14]. - Cash inflow from investment activities totaled 466,731,010.62, compared to 508,736,466.68 in the same period last year[33]. - The net cash flow from investment activities increased to 347,834,883.02, up from 129,714,749.18 in Q1 2022[33]. - The net cash flow from financing activities was -844,542,443.48, an improvement from -1,067,114,519.88 in Q1 2022[33]. - The ending balance of cash and cash equivalents was 1,062,496,752.59, down from 1,824,820,856.32 in Q1 2022[33]. Assets and Liabilities - Total assets at the end of Q1 2023 amounted to CNY 21,153,419,926.03, an increase of 4.66% from the end of the previous year[6]. - The total current liabilities increased to RMB 10,575,143,404.75 from RMB 10,259,748,731.19 year-on-year[16]. - The total non-current liabilities rose to RMB 3,249,890,693.25 from RMB 2,566,120,926.75 year-on-year[16]. - The total assets as of March 31, 2023, amounted to CNY 9,343,169,474.07, down from CNY 9,855,599,075.18 at the end of 2022[27]. - The total liabilities decreased to CNY 3,924,978,512.53 from CNY 4,453,436,524.39 at the end of 2022, indicating a reduction of approximately 11.8%[27]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 50,541[10]. - The largest shareholder, Shanghai Electric Holding Group Co., Ltd., holds 26.16% of the shares[11]. Operational Performance - The sales volume of rotary compressors increased by 8.4% year-on-year, while the sales of electric compressors for new energy vehicles grew by 25.9% year-on-year, aligning with industry trends[13]. - The company is currently in the integration phase of its subsidiary, which has impacted its performance expectations[8]. - The company is facing challenges in profitability due to the underperformance of the Haili Marelli business amid a sluggish vehicle market[13]. - The company is accelerating the integration of the acquired Haili Marelli business to enhance profitability, while also expanding its automotive parts market[13]. - The company secured new model designations for its electric compressors from clients such as Geely, Great Wall, Dongfeng Nissan, and Dongfeng Lantu during the reporting period[13]. Research and Development - R&D expenses increased to approximately ¥179.35 million in Q1 2023, up 4.1% from ¥171.25 million in Q1 2022[20]. - The company's research and development expenses for Q1 2023 were CNY 446,018.97, reflecting ongoing investment in innovation[29]. - The company plans to continue focusing on market expansion and new product development as part of its strategic initiatives moving forward[30]. Financial Ratios and Expenses - The company's financial expenses increased to CNY 10,412,351.20 in Q1 2023 from CNY 6,283,207.74 in Q1 2022, marking a rise of 66.1%[29].

证券代码：600619(A 股) 900910(B 股) 证券简称：海立股份(A 股) 海立 B 股(B 股) 编号：临 2023-026 二、召开的时间、方式 上海海立（集团）股份有限公司 关于参加 2023 年上海辖区上市公司 年报集体业绩说明会的公告 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 ● 会议召开时间：2023 年 5 月 10 日（星期三）下午 15:00-17:00 ● 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：上证路演中心网络文字互动 ● 投资者可于 2023 年 4 月 28 日(星期五)至 5 月 9 日(星期二)16:00 前通 过公司投资者关系邮箱 heartfelt@highly.cc 进行提问。公司将在业绩说明会期 间对投资者普遍关注的问题进行回答。 上海海立（集团）股份有限公司（以下简称"公司"）已于 2023 年 4 月 28 日披露公司 202 ...

Financial Performance - The company's operating revenue for Q1 2022 was CNY 4,319,364,519.48, representing a year-on-year increase of 13.04%[5] - The net profit attributable to shareholders was CNY 42,515,218.11, reflecting an increase of 8.32% compared to the same period last year[5] - The net profit for Q1 2022 was CNY 22,546,609.81, a decrease from CNY 51,868,568.32 in Q1 2021, indicating a decline of 56.5%[21] - The company reported a total comprehensive income of negative CNY 4,526,518.17 for Q1 2022, down from CNY 17,657,621.48 in Q1 2021[22] - The company reported a basic earnings per share of CNY 0.04 for the period[6] - The basic and diluted earnings per share for Q1 2022 remained at CNY 0.04, unchanged from Q1 2021[22] Operating Costs and Expenses - Total operating costs for Q1 2022 were RMB 4,385,558,067.36, up from RMB 3,762,862,699.14 in Q1 2021, reflecting a year-on-year increase of 16.54%[20] - Research and development expenses in Q1 2022 amounted to RMB 171,251,270.44, significantly higher than RMB 100,406,035.80 in Q1 2021, indicating a year-on-year growth of 70.6%[20] Cash Flow - The net cash flow from operating activities was CNY -680,998,832.10, which is not comparable[5] - The net cash flow from operating activities for Q1 2022 was negative CNY 680,998,832.10, slightly improved from negative CNY 729,834,560.12 in Q1 2021[25] - The company incurred a total investment cash outflow of CNY 240,923,983.15 in Q1 2022, significantly lower than CNY 1,052,932,379.63 in Q1 2021, indicating a reduction of 77.2%[25] - The net cash flow from financing activities for Q1 2022 was negative CNY 263,238,431.50, compared to positive CNY 892,831,764.86 in Q1 2021[26] - The company experienced a cash outflow from financing activities of CNY 2,285,520,672.19, a decrease from CNY 3,059,983,277.52 in Q1 2021, leading to a net cash flow from financing activities of CNY -1,067,114,519.88[36] Assets and Liabilities - The total assets at the end of the reporting period were CNY 20,792,131,667.78, a decrease of 1.44% from the end of the previous year[6] - Total liabilities as of March 31, 2022, were RMB 13,151,723,739.48, down from RMB 13,450,480,141.53 at the end of 2021, a decrease of 2.22%[18] - The company's equity attributable to shareholders increased to RMB 6,249,343,379.90 as of March 31, 2022, compared to RMB 6,225,484,314.57 at the end of 2021, a slight increase of 0.38%[19] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 48,769[12] Government Subsidies and Gains - The company recognized government subsidies amounting to CNY 13,579,421.95, mainly related to deferred income amortization and freight subsidies[8] - The total non-recurring gains and losses amounted to CNY 57,924,070.24 after tax adjustments[9] Financial Ratios - The weighted average return on equity was 0.68%, down by 0.19 percentage points[6] Other Financial Metrics - Interest income for Q1 2022 was CNY 12,683,241.55, compared to CNY 6,495,224.42 in Q1 2021, representing a 95.5% increase[21] - Cash and cash equivalents as of March 31, 2022, were RMB 2,856,642,021.01, down from RMB 3,866,098,658.15 at the end of 2021, a decrease of 26.06%[16] - Accounts receivable increased to RMB 4,520,595,548.79 as of March 31, 2022, compared to RMB 3,998,437,365.32 at the end of 2021, representing a growth of 13.01%[17] - Inventory as of March 31, 2022, was RMB 3,021,943,407.62, slightly up from RMB 2,929,386,741.13 at the end of 2021, an increase of 3.15%[17]

Financial Performance - The company's operating revenue for Q3 2021 was CNY 3,665,824,583.32, representing a year-on-year increase of 54.43%[5] - The net profit attributable to shareholders for Q3 2021 was CNY 28,256,491.85, up 51.58% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -57,201,447.15, which is not comparable[5] - The company achieved a total operating revenue of RMB 11.907 billion for the year-to-date, representing a year-on-year growth of 60.99%[15] - Operating profit reached RMB 162 million, an increase of 66.16% compared to the previous year[15] - Net profit attributable to shareholders was RMB 133 million, reflecting a year-on-year growth of 83.28%[15] - The net profit for Q3 2021 was CNY 183,872,964.19, a significant increase from CNY 95,162,886.59 in Q3 2020, representing an increase of approximately 93.3%[26] - The company reported a total comprehensive income of CNY 107,626,476.92 for Q3 2021, compared to CNY 70,191,607.72 in Q3 2020, indicating a growth of approximately 53.4%[27] - The company’s total profit for Q3 2021 was CNY 160,922,386.48, an increase from CNY 98,329,911.89 in Q3 2020, reflecting a growth of approximately 63.4%[26] Assets and Liabilities - The total assets at the end of the reporting period reached CNY 20,640,485,800.74, an increase of 38.08% from the end of the previous year[6] - The equity attributable to shareholders at the end of the reporting period was CNY 6,032,183,648.02, reflecting a growth of 33.73% compared to the previous year[6] - The company's total assets as of September 30, 2021, were CNY 20,640,485,800.74, up from CNY 14,947,903,638.64 at the end of 2020, representing a growth of 38.4%[21] - Total liabilities increased to CNY 13,089,853,438.25 as of September 30, 2021, compared to CNY 9,481,875,714.37 at the end of 2020, marking a rise of 38.4%[22] - The company's cash and cash equivalents stood at CNY 3,306,896,353.49 as of September 30, 2021, compared to CNY 2,278,407,485.77 at the end of 2020, reflecting a growth of 45.0%[21] - Accounts receivable increased to CNY 3,570,102,249.24 as of September 30, 2021, from CNY 3,080,454,538.72 at the end of 2020, showing an increase of 15.9%[21] - Inventory levels rose to CNY 3,233,730,317.99 as of September 30, 2021, compared to CNY 2,042,676,012.96 at the end of 2020, indicating a growth of 58.5%[21] - The company's equity attributable to shareholders reached CNY 6,032,183,648.02 as of September 30, 2021, up from CNY 4,510,572,071.02 at the end of 2020, representing an increase of 33.7%[22] - Total liabilities amounted to approximately 9.48 billion, with a slight increase of 31.77 million[34] Cash Flow and Investments - The cash flow from operating activities for the year-to-date was CNY -126,951,819.80, which is not comparable[6] - The cash flow from operating activities showed a net outflow of CNY -126,951,819.80 in Q3 2021, an improvement from CNY -1,116,478,860.20 in Q3 2020[30] - The company raised CNY 1,578,999,992.90 from investment activities in Q3 2021, compared to no such income in Q3 2020[31] - The company reported a net investment loss of CNY 9,364,227.63 for the first three quarters of 2021, compared to a loss of CNY 776,827.99 in the same period of 2020[25] Shareholder Information - The basic earnings per share for Q3 2021 was CNY 0.03, a 23.39% increase year-on-year[6] - The diluted earnings per share for Q3 2021 was also CNY 0.03, showing a 23.39% increase compared to the same period last year[6] - Basic and diluted earnings per share for Q3 2021 were both CNY 0.12, up from CNY 0.08 in Q3 2020, reflecting a 50% increase[28] - The company issued 201,772,151 shares at a price of RMB 7.90 per share, raising a total of RMB 1.594 billion in July 2021[16] - The total number of shares increased from 883,300,255 to 1,085,072,406 following the issuance[16] Business Operations and Strategy - The company attributed the revenue growth to the recovery of the domestic economy and increased sales of its main products, compressors and motors[10] - The company expects continued improvement in performance due to the positive market conditions and integration of its subsidiary, Haile Marili[10] - The company successfully launched its first high-pressure hot water heater for electric vehicles in September 2021, enhancing its automotive thermal management product line[15] - The company began supplying electric compressor products to major automotive manufacturers, including First Automobile Works and Great Wall Motors[15] - The company is actively integrating its automotive parts business to respond to the impacts of the global pandemic[15] Research and Development - Research and development expenses for the first three quarters of 2021 amounted to CNY 536,757,550.16, compared to CNY 329,417,316.82 in 2020, indicating a year-over-year increase of 62.9%[25] Other Financial Metrics - The company's total operating expenses for Q3 2021 were CNY 11,438,030,208.70, compared to CNY 8,522,172,540.08 in Q3 2020, representing an increase of approximately 34.5%[30] - The total assets impairment loss for Q3 2021 was CNY -22,179,621.28, compared to CNY -9,563,712.02 in Q3 2020, indicating a deterioration in asset quality[26] - The company completed the issuance of the second phase of short-term financing bonds totaling RMB 1 billion with a maturity of 270 days and an interest rate of 2.9%[18] - The company disposed of 26 out of 136 properties in Nanchang, generating a total transaction amount of RMB 17.3028 million[17]

Financial Performance - Revenue for 2020 was approximately ¥11.07 billion, a decrease of 8.79% compared to ¥12.14 billion in 2019[24]. - Net profit attributable to shareholders was ¥162.51 million, down 43.05% from ¥285.34 million in 2019[24]. - Basic earnings per share decreased by 42.42% to ¥0.19 from ¥0.33 in 2019[25]. - Operating cash flow net amount was ¥345.19 million, a decline of 50.78% compared to ¥701.35 million in 2019[24]. - Total assets increased by 7.24% to ¥14.95 billion from ¥13.94 billion in 2019[24]. - The weighted average return on equity decreased by 2.80 percentage points to 3.64% from 6.44% in 2019[25]. - The gross profit margin for 2020 was 13.16%, a decline of 1.23 percentage points from the previous year[56]. - The company reported a net profit of ¥90.12 million in Q4 2020, which was the highest quarterly profit for the year[26]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 1.50 RMB per 10 shares, totaling approximately 132.5 million RMB, which represents 81.53% of the net profit attributable to shareholders for the year 2020[5]. - The company has maintained a stable profit distribution policy, with cash dividends not exceeding cumulative distributable profits[101]. - The company has a cash dividend policy prioritizing reasonable returns to investors, with a cash dividend of CNY 1.80 per 10 shares distributed in 2020, totaling CNY 158.99 million[102]. Audit and Compliance - The company has received a standard unqualified audit report from PwC, ensuring the accuracy and completeness of the financial report[4]. - The company has confirmed that all board members attended the board meeting, ensuring accountability for the annual report's accuracy[9]. - The company has not reported any major litigation or arbitration matters during the reporting period[113]. - The internal control audit report issued by PwC confirmed that the company maintains effective financial reporting internal controls[189]. - The company reported no significant deficiencies in internal controls during the reporting period[189]. Risks and Challenges - The company has outlined various risks in its future development, including industry environment risk, product price risk, and technology risk[8]. - The company faces risks from market fluctuations due to climate change and supply-demand relationships in the air conditioning compressor industry[96]. - The price of major raw materials, such as electrolytic copper and electrical steel, has significantly increased since the second half of 2020, leading to higher operating costs and profit pressure[97]. Operational Highlights - The company produced 26.08 million air conditioning compressors in 2020, a year-on-year increase of 1.04%, and sold 26.29 million units, up 0.87%[40]. - The sales of variable frequency compressors reached 16.04 million units, representing a year-on-year growth of 77.29%, with a variable frequency ratio of 61.03%, an increase of 26.31 percentage points compared to the previous year[40]. - The company’s total sales volume for the rotor-type compressor industry in 2020 was 185 million units, with a market share of 14.23%[32]. - The company’s electric motor sales reached 32.22 million units, a year-on-year increase of 5.03%, with variable frequency motor sales growing by 69.82%[41]. Investment and Expansion - The company acquired 60% of Marelli (Hong Kong) Holdings Limited, enhancing its position in the new energy vehicle market[43]. - The company plans to focus on market expansion and new product development in the upcoming year[30]. - The company aims to sell 2.81 million air conditioning compressors in 2021, representing a 6.90% increase from 2020's actual sales of 2.629 million units[95]. - The target for electric motor sales in 2021 is 3.7 million units, a 14.83% increase from 2020's actual sales of 3.222 million units[95]. Research and Development - The company’s R&D investment totaled ¥548,154,305.75, representing 4.95% of operating revenue, with 912 R&D personnel, accounting for 14% of total employees[66]. - The company will increase research and development investment and expand its R&D team to enhance competitiveness and maintain industry leadership[97]. Environmental Responsibility - The company reported that its wastewater and air emissions are below the allowed limits, demonstrating commitment to environmental responsibility[136]. - The company has established a new production capacity project for 1.5 million units of new D variable frequency air conditioning compressors, which has received approval from the local environmental authority[141]. - The company operates three sets of activated carbon adsorption devices and one set of particulate matter filtration equipment for air pollution control, all functioning normally during the reporting period[140]. Corporate Governance - The company maintains a governance structure that complies with relevant laws and regulations, ensuring transparency and accountability in decision-making processes[179]. - The company has implemented a management system for insider information, with no incidents of insider trading reported during the reporting period[180]. - All proposals at the shareholders' meetings were approved without any rejections[182]. Social Responsibility - The company is actively involved in social responsibility initiatives, including pandemic response and charitable activities[135]. - The company contributed a total of 572,500 RMB to targeted poverty alleviation efforts, including 160,100 RMB in donated materials and 261,700 RMB in consumption poverty alleviation[131].

Financial Performance - Operating revenue for the first quarter reached CNY 3.82 billion, a 60.13% increase year-on-year[6] - Net profit attributable to shareholders was CNY 39.25 million, up 27.47% from the same period last year[6] - The company reported a basic earnings per share of CNY 0.04, unchanged from the previous year[6] - The company reported a total revenue of RMB 3.821 billion, representing a year-on-year growth of 60.13%, and a net profit attributable to shareholders of RMB 39 million, up 27.47%[25] - The net profit for Q1 2021 reached ¥51,868,568.32, up 26.3% from ¥41,029,270.40 in Q1 2020[42] - The company reported a net profit margin improvement, with net profit for Q1 2021 reflecting a positive trend compared to the previous year, although specific figures were not disclosed[40] Assets and Liabilities - Total assets increased by 25.59% to CNY 18.77 billion compared to the end of the previous year[6] - The company's total liabilities as of March 31, 2021, amounted to ¥12,674,585,514.06, compared to ¥9,481,875,714.37 at the end of 2020, indicating a 33.1% increase[38] - Total assets as of March 31, 2021, were ¥18,772,820,144.23, up from ¥14,947,903,638.64 at the end of 2020, representing a growth of 25.5%[35] - The company's equity attributable to shareholders increased to ¥4,529,588,798.57 from ¥4,510,572,071.02, a slight increase of 0.4%[35] - The company reported a total current liability of RMB 10.385 billion as of March 31, 2021, compared to RMB 8.053 billion at the end of 2020[33] Cash Flow - The net cash flow from operating activities was CNY -729.83 million, showing an improvement compared to CNY -878.20 million in the previous year[6] - In Q1 2021, the cash inflow from operating activities was CNY 2,909,412,584.11, an increase of 40.5% compared to CNY 2,069,680,287.72 in Q1 2020[47] - The net cash flow from operating activities was -CNY 729,834,560.12, an improvement from -CNY 878,199,369.47 in the same period last year[47] - Cash inflow from financing activities reached CNY 2,430,382,491.44, up 217.5% from CNY 765,102,495.58 in Q1 2020[48] - The cash outflow from investing activities was CNY 1,052,932,379.63, compared to CNY 212,243,613.01 in Q1 2020, reflecting increased investment activities[48] Shareholder Information - The total number of shareholders reached 45,258, with the top ten shareholders holding significant stakes[10][11] - Shanghai Electric Group holds the largest share at 23.97%, followed by Gree Electric Appliances at 10.21%[11] Operational Efficiency and Market Strategy - The company is focused on improving operational efficiency and exploring new market opportunities[13] - The company is exploring market expansion strategies and new product development to sustain growth momentum in the upcoming quarters[40] Inventory and Receivables - Accounts receivable increased by 47.86% and financing receivables increased by 58.26%, driven by significant growth in sales of compressors and motors as the domestic economy continued to recover[16] - Inventory rose by 44.03%, also attributed to the consolidation of Hailima Ruili[16] - Prepayments increased by 67.74%, mainly due to higher advance payments for raw material purchases[16] - Other receivables surged by 344.91%, primarily due to the consolidation of Hailima Ruili Holdings[16] Acquisitions and Investments - The company completed the acquisition of Marelli Corporation, which has been consolidated since February 2021, enhancing its capabilities in automotive air conditioning systems[26] - The company plans to issue up to 264,990,076 A-shares to raise no more than RMB 1.594 billion, with the approval from the China Securities Regulatory Commission received on March 10, 2021[27] Financial Management - Financial expenses decreased to ¥25,512,762.09 in Q1 2021 from ¥32,005,153.28 in Q1 2020, primarily due to lower interest expenses[41] - Research and development expenses for Q1 2021 were ¥100,406,035.80, slightly down from ¥102,658,428.63 in Q1 2020, indicating a focus on cost management[40] - The company experienced a significant increase in management expenses, which rose to ¥14,284,979.90 in Q1 2021 from ¥6,387,753.00 in Q1 2020[44]

Financial Performance - Net profit attributable to shareholders decreased by 62.20% to CNY 72.39 million year-on-year[7] - Operating revenue declined by 21.03% to CNY 7.40 billion for the period[7] - Basic earnings per share decreased by 63.64% to CNY 0.08[7] - The weighted average return on equity fell by 2.73 percentage points to 1.63%[7] - The company reported a significant decrease in net profit from recurring operations, down 88.12% to CNY 20.50 million[7] - Total revenue for the year-to-date was ¥739,628.49 million, a decline of 21.03% year-on-year, with net profit attributable to shareholders down 62.20% to ¥7,239.20 million[25] - The company reported a total profit for the first three quarters of 2020 was ¥190,326,021.38, down from ¥299,705,935.68 in the same period of 2019, a decline of about 36.5%[41] - The company's net profit for the first three quarters of 2020 was CNY 501,035,898.37, compared to CNY 469,703,922.89 in the same period of 2019, showing an increase of 6.65%[37] Cash Flow and Liquidity - Net cash flow from operating activities dropped by 594.05% to -CNY 1.12 billion compared to the same period last year[7] - The company reported a net cash outflow from operating activities of ¥1,116,478,860.20, a 594.05% increase in net outflow compared to the same period last year[23] - The cash inflow from operating activities for the first three quarters of 2020 was 7,405,693,679.88 RMB, while cash outflow was 8,522,172,540.08 RMB, leading to a negative cash flow[44] - The net cash flow from operating activities was -$76,987,628.25, compared to -$70,453,195.71 in the previous year, indicating a decline in operational performance[47] - The total cash outflow from operating activities was $1,534,455,910.49, significantly higher than $260,832,162.37 in the previous year[47] Assets and Liabilities - Total assets increased by 4.53% to CNY 14.57 billion compared to the end of the previous year[7] - As of September 30, 2020, the company's total assets amounted to approximately CNY 14.57 billion, an increase from CNY 13.94 billion at the end of 2019[30] - Total liabilities increased to approximately CNY 9.24 billion from CNY 8.46 billion at the end of 2019[33] - The company's equity attributable to shareholders decreased to approximately CNY 4.40 billion from CNY 4.51 billion at the end of 2019[33] - The company's total assets decreased to CNY 7,258,305,663.56 as of September 30, 2020, down from CNY 7,568,781,808.45 at the end of 2019[36] Shareholder Information - The total number of shareholders reached 48,347, with the top ten shareholders holding a combined 58.48% of shares[11] - Shanghai Electric Group Company holds the largest share at 23.97%[11] - As of October 20, 2020, a major shareholder reduced their stake by 660,300 shares, representing 0.07% of the total share capital[27] Investment and Expenditures - The company’s development expenditures increased by 114.37% to ¥60,492,048.15, primarily for new energy-efficient projects[16] - The company plans to acquire 60% of Marelli Corporation's assets and business related to automotive air conditioning systems, as approved by the board and shareholders[26] - The company has terminated the issuance of convertible bonds previously approved, citing changes in market conditions and its strategic considerations, with no adverse impact on operations expected[26] Other Income and Expenses - Non-operating income for the period totaled CNY 18.75 million, down from CNY 51.89 million in the previous year[10] - The company’s other income increased by 96.64% to ¥61,362,541.35, mainly due to increased government subsidies amid the pandemic[21] - The company's management expenses for Q3 2020 were ¥22,929,895.46, significantly higher than ¥7,177,469.88 in Q3 2019, indicating an increase of about 219.5%[41] - The financial expenses for Q3 2020 were ¥13,727,944.08, compared to ¥10,875,789.19 in Q3 2019, an increase of approximately 26.9%[41]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥5,022,433,174.21, a decrease of 26.41% compared to ¥6,824,846,183.72 in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2020 was ¥53,750,552.92, down 68.29% from ¥169,488,881.38 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was ¥20,611,364.12, a decline of 85.09% compared to ¥138,278,341.68 in the same period last year[20]. - The net cash flow from operating activities was -¥985,336,527.97, compared to -¥165,271,207.74 in the previous year, indicating a significant deterioration[20]. - The overall operating revenue declined by 26.41% compared to the previous year[32]. - The net profit attributable to shareholders decreased by 68.29% year-on-year[32]. - Basic earnings per share for the first half of 2020 were ¥0.06, a decrease of 70.00% from ¥0.20 in the same period last year[21]. - The weighted average return on net assets was 1.20%, down 2.63 percentage points from 3.83% in the previous year[21]. Assets and Liabilities - The total assets at the end of the reporting period were ¥14,589,243,531.62, an increase of 4.67% from ¥13,938,331,468.71 at the end of the previous year[20]. - The total liabilities as of June 30, 2020, were RMB 5,000,000,000, compared to RMB 4,500,000,000 at the end of 2019, showing an increase of approximately 11.1%[103]. - The total equity decreased to ¥5,308,029,675.90 from ¥5,482,006,890.53, a decline of approximately 3.17%[105]. - The company's total liabilities amounted to CNY 3,782,556,352.41, a slight decrease from CNY 3,858,216,235.41 in the previous year[109]. Market Performance - The company's sales of rotary compressors reached 12.1 million units, a year-on-year decrease of 21.62%[31]. - The sales of electric motors amounted to 13.67 million units, down 16.99% year-on-year[31]. - The company achieved a 31.4% year-on-year growth in the non-residential air conditioning compressor market[33]. - The overall market share increased by approximately 2 percentage points year-on-year, despite a 36.5% decline in domestic new energy vehicle production[34]. Research and Development - Research and development expenses were reduced by 5.49% to ¥208,905,173.08, primarily due to decreased project expenditures[36]. - The company is committed to increasing research and development investments to address technological advancements, particularly in finding new environmentally friendly refrigerants[57]. - The company plans to increase product development investments and expand its product line in response to market changes[34]. Environmental and Social Responsibility - The company has established wastewater treatment facilities in both the East and West districts, with normal operation during the reporting period[79]. - The company has engaged in targeted poverty alleviation efforts, including a donation of RMB 50,000 to a partnered village and RMB 87,380 for agricultural product sales assistance[72]. - The company has implemented three sets of activated carbon adsorption devices and one set of particulate matter filtration equipment for air pollution control, with normal operation during the reporting period[79]. Risks and Uncertainties - The company faced various risks including industry environment risk, product price risk, technology risk, exchange rate risk, and goodwill impairment risk[7]. - The report includes a forward-looking statement risk warning, indicating that actual results may differ significantly from the management's expectations due to various uncertainties[7]. - The company faces industry environment risks due to market fluctuations influenced by climate change and supply-demand dynamics in the air conditioning compressor sector[56]. Financing and Investments - The company has obtained a total of CNY 1.5 billion in working capital loans from its financial company, with CNY 500 million drawn down in the first half of 2020[65]. - The company issued electronic bank acceptance bills totaling CNY 1.21669 billion in the first half of 2020[65]. - The net cash flow from financing activities increased by ¥896,081,235.71, indicating a rise in net borrowings[38]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 46,545, with a significant portion being state-owned enterprises[92]. - The largest shareholder, Shanghai Electric Group, holds 23.97% of the company's shares, while Gree Electric Appliances holds 10.21%[94]. Accounting Policies and Compliance - The financial statements are prepared based on the going concern principle, ensuring the company's ability to continue operations[145][146]. - The company adheres to the accounting standards set by the Ministry of Finance and the China Securities Regulatory Commission, ensuring compliance and transparency[149]. - The accounting policies include specific measures for expected credit losses on receivables and inventory valuation methods[147].

Financial Performance - Net profit attributable to shareholders decreased by 70.06% to CNY 30.79 million year-on-year[5] - Operating revenue fell by 29.84% to CNY 2.39 billion compared to the same period last year[5] - Basic earnings per share dropped by 66.67% to CNY 0.04[5] - The company reported a total comprehensive income of ¥22,270,126.51 for Q1 2020, significantly lower than ¥146,549,466.54 in Q1 2019[38] - Net profit for Q1 2020 was ¥41,029,270.40, a decline of 69.6% from ¥134,869,996.44 in Q1 2019[38] Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -878.20 million, compared to CNY -473.20 million in the previous year[5] - Cash and cash equivalents decreased by 33.05% compared to the beginning of the year, primarily due to reduced bill discounting, leading to significant net cash outflow from operating activities[14] - The company's cash and cash equivalents decreased to ¥785,855,799.01 from ¥1,173,742,507.46, representing a decline of approximately 33.16%[28] - Operating cash flow for Q1 2020 showed a net outflow of approximately ¥878.20 million, worsening from a net outflow of ¥473.20 million in Q1 2019[44] - The total cash and cash equivalents at the end of Q1 2020 were $343,024,913.30, compared to $170,341,280.67 at the end of Q1 2019, representing a year-over-year increase of approximately 101%[47] Assets and Liabilities - Total assets increased by 1.24% to CNY 14.11 billion compared to the end of the previous year[5] - Total liabilities reached ¥8,606,737,514.82, compared to ¥8,456,324,578.18, showing an increase of about 1.77%[30] - The company's equity attributable to shareholders increased to ¥4,526,159,666.15 from ¥4,509,695,503.94, a growth of approximately 0.37%[30] - Current assets totaled ¥8,832,532,501.02, up from ¥8,601,149,894.09, indicating an increase of about 2.68%[28] - Total current liabilities increased to ¥7,676,128,504.18 from ¥7,544,649,452.38, reflecting an increase of about 1.75%[30] Shareholder Information - The total number of shareholders reached 48,190, with 23,429 being B shareholders[10] - The largest shareholder, Shanghai Electric Group, holds 23.97% of the shares, totaling 211.70 million shares[10] Government Support and Other Income - The company recognized government subsidies amounting to CNY 11.53 million during the reporting period[8] - Other income rose by 72.12% year-on-year, primarily due to increased government subsidies recognized during the period[18] - The company reported a non-recurring gain of CNY 7.92 million for the quarter[8] Borrowings and Financing - Short-term borrowings increased by 80.44% compared to the beginning of the year, reflecting the company's need to supplement working capital and project funding[14] - The company’s long-term borrowings increased by 48.53% compared to the beginning of the year, indicating a strategy to secure additional funding[14] - The company plans to issue convertible bonds, which has been approved by the Shanghai State-owned Assets Supervision and Administration Commission[25] Sales and Production - The company sold 524.61 million air conditioning compressors in Q1 2020, a decline of 32.56% year-on-year, while sales of electric vehicle compressors increased by 12.54% to 35,000 units[24] - Total operating revenue for Q1 2020 was ¥2,386,332,915.84, a decrease of 29.8% compared to ¥3,401,094,902.14 in Q1 2019[36] - Total operating costs for Q1 2020 were ¥2,361,175,414.20, down 27.5% from ¥3,255,546,160.78 in Q1 2019[36] Research and Development - Research and development expenses for Q1 2020 were ¥102,658,428.63, an increase of 19.2% from ¥86,116,727.46 in Q1 2019[36]

Financial Performance - The company's operating revenue for 2019 was approximately ¥12.14 billion, representing a 3.69% increase compared to ¥11.71 billion in 2018[21]. - The net profit attributable to shareholders decreased by 8.22% to approximately ¥285.34 million from ¥310.89 million in the previous year[21]. - The basic earnings per share for 2019 was ¥0.33, down 8.33% from ¥0.36 in 2018[22]. - The cash flow from operating activities for 2019 was approximately ¥701.35 million, a significant decline of 46.27% compared to ¥1.31 billion in 2018[21]. - The total assets at the end of 2019 were approximately ¥13.94 billion, a decrease of 2.77% from ¥14.34 billion at the end of 2018[21]. - The weighted average return on equity for 2019 was 6.44%, down from 7.29% in 2018, reflecting a decrease of 0.85 percentage points[22]. - The company's net assets attributable to shareholders increased by 3.33% to approximately ¥4.51 billion at the end of 2019[21]. - The gross profit margin for the reporting period was 14.39%, a decrease of 1.43 percentage points year-on-year[45]. - The income tax expense decreased by 64.03% year-on-year, primarily due to an increase in the amount of R&D expenses eligible for additional deductions[44]. - The company achieved a profit distribution ratio of 55.72% in 2019, with a net profit of 285,338,130.89 CNY attributed to common shareholders[91]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of 1.80 RMB per 10 shares, totaling approximately 158.99 million RMB, which represents 55.72% of the net profit attributable to shareholders for the year 2019[5]. - The company reported a cash dividend of 1.50 CNY per 10 shares for 2018, totaling 129,946,598.25 CNY distributed[89]. - The company’s total cash dividends over the past three years have shown a consistent increase, from 1.20 CNY per 10 shares in 2017 to 1.80 CNY in 2019[91]. Audit and Compliance - The company has received a standard unqualified audit report from PwC Zhong Tian[4]. - The company’s financial report is guaranteed to be true, accurate, and complete by its board of directors and senior management[2]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[7]. - The company has not disclosed any significant changes in its decision-making processes regarding external guarantees[7]. - The company received a standard unqualified opinion from PwC on its internal control audit, confirming effective financial reporting controls[183]. Risks and Challenges - The management has highlighted various risks including industry environment risk, product price risk, technology risk, exchange rate risk, and goodwill impairment risk[7]. - The company has noted the risk of goodwill impairment if the performance of Hangzhou Fusheng does not meet expectations[85]. - The company faces challenges such as rising labor costs and increased competition in the air conditioning industry, but also sees opportunities in the ongoing industrialization and urbanization processes in China[79]. - The air conditioning and compressor market has long-term growth potential, but faces risks from climate change and supply-demand fluctuations[84]. Research and Development - Research and development expenses increased by 20.23% to RMB 545,893,952.30[42]. - The company plans to increase R&D investment and expand its research team to enhance competitiveness and maintain industry leadership[85]. - The company is actively involved in research and development, particularly in intelligent new energy vehicles, to align with market trends[158]. Production and Sales - The company produced 25.81 million air conditioning compressors, a year-on-year increase of 10.08%, and sold 26.06 million units, up 13%[38]. - The sales of automotive electric scroll compressors reached 188,100 units, a significant increase of 86.93%, capturing 15% of the new energy vehicle market[39]. - The company plans to increase air conditioning compressor sales to 2.9 million units in 2020, up from 2.606 million units in 2019, representing an 11.29% increase[82]. - The company anticipates a significant growth in demand for automotive electric scroll compressors, with sales projected to increase by 38.26% from 19,000 units in 2019 to 26,000 units in 2020[82]. Environmental Responsibility - The company actively pursued social responsibility initiatives, emphasizing energy conservation, environmental protection, and smart manufacturing in 2019[120]. - The actual discharge of wastewater pollutants was within permissible limits, with pH at 7.30 and CODCr at 68.4 mg/L, both below the allowed concentrations[121]. - The company’s noise levels were compliant with standards, recording daytime levels at 58.8 dB and nighttime levels at 48.7 dB[123]. - The company reported a total of 532.33 tons of hazardous waste handled in compliance with regulations[123]. - The company has complied with national environmental laws and regulations, establishing a comprehensive environmental management system and conducting emergency drills for environmental incidents[132]. Governance and Management - The company has implemented stock incentive plans for its executives, with specific allocations detailed in the report[159]. - The board of directors and supervisory board operate in accordance with legal regulations, ensuring effective governance and protection of stakeholder rights[174]. - The company maintains independence from its controlling shareholder in terms of business operations, personnel, assets, and financial management[180]. - The evaluation mechanism for senior management is based on annual operational targets and performance indicators, with a four-tier assessment system[181]. - The company has not experienced any insider trading violations or regulatory actions related to insider information management during the reporting period[175]. Shareholder Structure - The largest shareholder, Shanghai Electric Group, holds 211,700,534 shares, representing 23.97% of total shares[146]. - Zhuhai Gree Electric Appliances holds 90,223,164 shares, accounting for 10.21% of total shares[146]. - The controlling shareholder, Shanghai Electric (Group) Corporation, holds a 60.89% stake in the company as of December 31, 2019[149]. - The total number of ordinary shareholders increased from 49,245 to 50,565 during the reporting period[144]. Future Outlook - Future guidance indicates a cautious outlook, with management emphasizing the need for strategic adjustments in response to market conditions[158]. - The company is focusing on expanding its market presence and enhancing its product offerings, particularly in the new energy sector[158]. - The company is actively seizing opportunities in the global industrial transformation era as part of its strategic initiatives[182].