本次活动将采用网络远程的方式举行，投资者可登录"全景路 演"网站（http://rs.p5w.net），或关注微信公众号：全景财经，或 下载全景路演 APP，参与本次互动交流，活动时间为 2023 年 9 月 7 日（周四） 14:00-16:30。届时公司将在线就公司 2023 年半年度业 绩、公司治理、发展战略、经营状况和可持续发展等投资者关心的问 题，与投资者进行沟通与交流，公司将在信息披露允许的范围内就投 资者普遍关注的问题进行回答。 公司出席本次网上集体接待日的人员有：公司总经理、独立董 事、财务总监、董事会秘书（如有特殊情况，参加人员可能调整）。 欢迎广大投资者踊跃参与。 股票简称：动力新科 动力 B 股 股票代码：600841 900920 编号：临 2023-029 上海新动力汽车科技股份有限公司 关于参加2023年上海辖区上市公司集体接待日暨 中报业绩说明会活动的公告 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。 为进一步加强与投资者的互动交流，上海新动力汽车科技股份有 限公司（以下简称"公司"）将参加由上 ...

Financial Performance - The company reported a consolidated net profit attributable to the parent company of -1,611,467,856.66 RMB for 2022, representing a decrease of 332.54% compared to the previous year[6]. - Total operating revenue for 2022 was 9,929,033,997.87 RMB, a decline of 59.31% from 24,401,513,649.75 RMB in 2021[21]. - The net asset attributable to shareholders of the listed company decreased by 18.60% to 7,952,344,819.33 RMB at the end of 2022[21]. - The company will not distribute profits or increase capital reserves for the year 2022 due to the reported losses[6]. - The net cash flow from operating activities was -2,051,086,291.26 RMB, indicating a continued cash outflow[21]. - The company’s earnings per share for 2022 was -0.988 RMB, reflecting the overall financial downturn[6]. - The weighted average return on equity was -18.13%, down 28.94 percentage points from 10.81% in 2021[22]. - The company reported a net cash outflow from operating activities of -2.05 billion RMB, indicating ongoing financial challenges[44]. - The company’s total revenue for 2022 was 9.93 billion RMB, representing a 59.31% decrease compared to the previous year, primarily due to the decline in vehicle and engine sales[41]. - The net profit attributable to the parent company was -1.61 billion RMB, a decrease of 332.54% year-on-year, largely due to reduced sales and impairment provisions[42]. Sales and Market Performance - In 2022, the company sold 13,100 heavy trucks, a decrease of 79.20% year-on-year, and 166,400 diesel engines, down 20.06% year-on-year[23]. - The heavy truck industry in China saw a total sales volume of 671,900 units in 2022, a year-on-year decline of 51.84%[31]. - The company’s subsidiary, SAIC Hongyan, achieved sales of 13,100 heavy trucks in 2022, down 79.20% year-on-year, ranking 8th in the industry[32]. - The domestic multi-cylinder diesel engine sales reached 3.7279 million units in 2022, a year-on-year decrease of 30.10%[34]. - The company experienced a significant decline in sales, with total vehicle sales dropping to 13,107 units, a decrease of 79.20% year-on-year, and diesel engine sales falling to 166,377 units, down 20.06% year-on-year[39]. - The heavy truck business was significantly impacted by the downturn in the construction sector, leading to a decline in sales and revenue[173]. Operational Strategy and Future Outlook - The company plans to focus on sustainable development and future operational funding needs in light of the losses incurred[6]. - The company’s future plans and operational outlook are subject to market conditions and macroeconomic policies, highlighting potential investment risks[7]. - The company is actively enhancing market expansion and product technology development to counteract the adverse market conditions[29]. - The company plans to increase investment in the new energy vehicle supply chain, including drive motors and power batteries, to cultivate new profit growth points[30]. - The company anticipates a recovery in the heavy-duty truck industry in 2023, driven by improved logistics and domestic demand, despite ongoing competitive pressures[75]. - The company aims to leverage market opportunities in 2023, focusing on customer-centric strategies and innovation to meet key operational targets[76]. - The company aims to achieve sales of 209,000 diesel engines and 21,500 heavy trucks in 2023, targeting a total revenue of 14 billion CNY[80]. Research and Development - The company has a strong R&D capability, with multiple patents and a national-level technology center, focusing on innovation in diesel engine technology[38]. - The company obtained 47 new patents for diesel engine business in 2022, including 5 invention patents, 39 utility model patents, and 3 design patents[30]. - The company completed the development of 37 new engine products, including the F series heavy-duty engine and Y series medium-heavy engine[30]. - The company is advancing the development of new products, including hybrid engines and high-efficiency power battery systems for electric vehicles[77]. Environmental Management - The company invested 28.04 million CNY in environmental protection measures during the reporting period[126]. - The company has established an ISO14001 environmental management system to enhance its environmental management practices[126]. - The company has implemented a comprehensive pollution prevention strategy, including regular monitoring and maintenance of wastewater treatment plants and air pollution control devices[137]. - The company’s hazardous solid waste management complies with national regulations, with strict adherence to collection, storage, and disposal protocols[136]. - The company achieved a VOCs removal efficiency of 90-95% through upgraded pollution control facilities, meeting the dual 90% requirement in the Liangjiang New Area[138]. Corporate Governance - The company has a well-structured corporate governance system that complies with the requirements of the Company Law and the China Securities Regulatory Commission regarding independence[88]. - The company is focused on maintaining transparency and accountability in its financial reporting and governance practices[88]. - The company has established a clear governance structure for its board and management, ensuring accountability and transparency[99]. - The company has committed to timely disclosure of significant related transactions that may impact its operating performance[157]. Related Party Transactions - The company approved related party transactions with Shanghai Automotive Group Co., Ltd. and Chongqing Mechanical and Electrical Holdings (Group) Co., Ltd. during the annual general meeting[89]. - The company will ensure that any non-routine related transactions are conducted fairly and transparently[157]. - The company will maintain independent financial departments and accounting systems for Shanghai Diesel Engine Co., Ltd.[161]. Performance Commitments - The actual profit for the performance commitment asset 1 in 2022 was -169,502.23 million RMB, significantly below the forecasted profit of 21,281.00 million RMB, resulting in a completion rate of 0%[169]. - The actual profit for performance commitment asset 2 in 2022 was 6,837.91 million RMB, exceeding the forecasted profit of 10,103.55 million RMB, achieving a completion rate of 100.56%[170]. - The company has committed to compensating for any shortfall in actual profits compared to the agreed forecasts during the performance commitment period[166].

Financial Performance - The company's operating revenue for the first half of 2022 was approximately RMB 5.73 billion, a decrease of 66.49% compared to RMB 17.09 billion in the same period last year[17]. - The net profit attributable to shareholders was a loss of approximately RMB 230.39 million, a decline of 166.57% compared to a profit of RMB 346.08 million in the previous year[17]. - The company sold 9,130 heavy-duty trucks in the first half of 2022, representing a year-on-year decrease of 82.47%[20]. - Diesel engine sales reached 73,835 units, down 33.36% compared to the same period last year[20]. - The cash flow from operating activities was negative at approximately RMB 2.92 billion, compared to a negative RMB 327.78 million in the previous year[17]. - The basic earnings per share for the first half of 2022 was -0.141 yuan, a decrease of 144.55% compared to 0.317 yuan in the same period last year[18]. - The weighted average return on equity was -2.39%, a decrease of 8.99 percentage points from 6.60% in the previous year[18]. - The company's revenue for the first half of 2022 was 5.727 billion RMB, a decline of 66.49% compared to the previous year, with a net profit attributable to the parent company of -230 million RMB, down 166.57% year-on-year[29]. - The domestic commercial vehicle industry saw a total sales volume of 1.7018 million units in the first half of 2022, a year-on-year decrease of 41.19%, with heavy truck sales dropping 64% to 380,000 units[23]. - The diesel engine industry experienced a total sales volume of 2.2895 million units in the first half of 2022, a year-on-year decline of 36.48%, with commercial vehicle engines down 50.80%[24]. Market and Product Development - The company launched 11 new models focusing on niche markets, with the Jieshi H6 electric tractor successfully passing EU WVTA certification[29]. - The company achieved a 2,593% year-on-year increase in sales of new energy heavy trucks, totaling 1,212 units in the first half of 2022[29]. - The company plans to continue expanding into new markets, focusing on "three new" areas: new markets, new customers, and new products[30]. - The company aims to enhance operational efficiency and quality management through the "Four Smart" project, which includes smart products and smart manufacturing[30]. - The company is actively exploring investments in the new energy vehicle supply chain, including drive motors and power batteries[31]. - The company expects the diesel engine market to gradually recover in the second half of 2022 as infrastructure investments increase[34]. - The company plans to strengthen its core product competitiveness by accelerating the upgrade and iteration of key products[34]. Environmental Compliance and Initiatives - The company is classified as a key pollutant discharge unit by the Shanghai Yangpu District Ecological Environment Bureau, with major pollutants including waste gas, wastewater, and solid waste[58]. - During the reporting period, the company reported wastewater emissions of 1.51979 tons of COD, 0.02352 tons of NH3-N, 0.00945 tons of total phosphorus, and 0.29682 tons of total nitrogen[59]. - The company reported air emissions of 0.78162 tons of NOx, 1.19611 tons of VOCs, and 0.15121 tons of particulate matter during the reporting period[60]. - The company’s solid waste management complies with national and local regulations, with hazardous waste managed according to specific standards[60]. - The company has implemented various environmental monitoring and management measures to ensure compliance with pollution discharge standards[60]. - The company has implemented a 1.6MW solar photovoltaic project, which is expected to generate 1.5 million kWh annually, reducing carbon emissions by 1,182 tons[74]. - In the first half of 2022, the actual power generation from the solar project was 885,000 kWh, resulting in a carbon emission reduction of 697 tons[74]. - The company has established a comprehensive environmental management system in compliance with ISO 14001:2015 standards[66]. - The company is committed to enhancing its pollution prevention facilities and regularly conducts maintenance and monitoring to ensure compliance with environmental regulations[65]. Corporate Governance and Compliance - The company confirmed that it will enhance the governance structure of its subsidiaries to ensure compliance with related party transaction regulations and protect minority shareholders' interests[80]. - The company has committed to maintaining transparency in related party transactions and will disclose significant transactions that impact operational performance[80]. - The company will adhere to fair market principles in any unavoidable related party transactions and ensure proper disclosure as per regulatory requirements[82]. - The company will ensure the independence of personnel at Shangchai Co., with senior management not holding positions outside the company and its controlled enterprises[84]. - The company will uphold the independence of Shangchai Co.'s operations, ensuring no substantial competition or unfair related transactions occur[85]. - The company will adhere to all laws and regulations regarding corporate governance to protect the interests of Shangchai Co. and its shareholders[85]. Financial Position and Liabilities - Cash and cash equivalents decreased by 24.79% to ¥4,731,280,311.34, accounting for 19.80% of total assets[39]. - Accounts receivable increased by 26.96% to ¥7,826,263,400.25, representing 32.75% of total assets[39]. - Short-term borrowings surged by 232.17% to ¥2,823,406,317.00, making up 11.82% of total liabilities[39]. - Long-term borrowings increased by 435.38% to ¥348,000,000.00, accounting for 1.46% of total liabilities[39]. - The total assets decreased from RMB 24,247,753,724.66 to RMB 23,894,562,024.65, a decline of about 1.46%[129]. - Total liabilities increased from RMB 14,478,462,234.47 to RMB 14,567,580,041.05, a rise of about 0.62%[129]. - The total current assets decreased from RMB 18,010,097,169.78 to RMB 17,322,481,631.73, a decline of approximately 3.83%[128]. - The total equity is not explicitly mentioned but can be inferred from the total assets and total liabilities[129]. Related Party Transactions - The company engaged in related party transactions totaling approximately ¥331.76 million with SAIC Fiat Hongyan Powertrain Co., accounting for 5.63% of similar transaction amounts[92]. - The company reported related party transactions of approximately ¥56.48 million with SAIC Maxus Automotive Co., representing 0.96% of similar transaction amounts[92]. - Related party transactions with Shanghai Automotive Industry Activity Center amounted to approximately ¥29.10 million, which is 0.49% of similar transaction amounts[92]. - The company recorded related party transactions of approximately ¥17.96 million with Shanghai Lingzhong Engine Co., accounting for 0.30% of similar transaction amounts[93]. - Related party transactions with Chongqing Kafu Automotive Brake Steering System totaled approximately ¥15.91 million, representing 0.27% of similar transaction amounts[93]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 61,288[118]. - The top shareholder, Shanghai Automotive Group Co., Ltd., holds 783,046,844 shares, representing 47.99% of the total shares[120]. - The company has committed to a 12-month lock-up period for shares issued during the major asset restructuring[116]. - The top ten shareholders collectively hold a significant portion of the company's shares, indicating concentrated ownership[120]. - The company has engaged in a major asset restructuring to enhance its capital structure and financial position[116]. Research and Development - The company reported R&D expenses of CNY 211,338,518.19 for the first half of 2022, slightly down from CNY 213,268,508.88 in the same period of 2021[136]. - The company is focusing on developing new energy vehicles and energy-efficient engines to strengthen its market position[50].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 4,061,771,578.45, a decrease of 48.15% compared to the same period last year[4] - The net profit attributable to shareholders was CNY 16,744,914.36, reflecting an 86.96% decline year-over-year[4] - The net profit after deducting non-recurring gains and losses was CNY -43,866,248.83, a decrease of 173.69% compared to the previous year[4] - The company reported a decrease in sales expenses by 31.30%, attributed to lower sales volume and improved internal cost control[8] - Total operating revenue for Q1 2022 was approximately ¥4.06 billion, a decrease of 48.0% compared to ¥7.83 billion in Q1 2021[17] - Total operating costs for Q1 2022 were approximately ¥4.13 billion, down 45.5% from ¥7.59 billion in Q1 2021[17] - Net profit for Q1 2022 was approximately ¥16.74 million, a decline of 90.6% from ¥178.96 million in Q1 2021[18] - Operating profit for Q1 2022 was ¥61,233,132.63, a decline of 13.5% from ¥70,636,993.62 in Q1 2021[27] - Net profit for Q1 2022 was ¥65,308,321.22, down 8.5% from ¥71,654,932.50 in Q1 2021[27] Cash Flow - The net cash flow from operating activities was CNY -2,584,689,696.11, indicating a significant cash outflow[4] - Operating cash flow for Q1 2022 was negative at approximately -¥2.58 billion, compared to -¥2.22 billion in Q1 2021[20] - Cash inflow from operating activities totaled ¥1,053,634,980.86, a decrease of 31.4% compared to ¥1,538,464,995.95 in the previous year[30] - Cash outflow from operating activities amounted to ¥1,526,120,146.34, down 12.3% from ¥1,740,189,817.36 year-over-year[30] - Net cash flow from operating activities was -¥472,485,165.48, worsening from -¥201,724,821.41 in the same quarter last year[30] - The net decrease in cash and cash equivalents was -¥385,935,056.42, compared to -¥220,307,529.78 in the previous year[30] - The ending balance of cash and cash equivalents was ¥3,022,643,442.97, up from ¥2,680,176,661.05 year-over-year[30] Assets and Liabilities - The total assets at the end of the reporting period were CNY 24,651,941,139.46, an increase of 1.67% from the end of the previous year[5] - The company's total assets amounted to 24.652 billion RMB, compared to 24.248 billion RMB at the end of 2021[16] - The company's total liabilities as of March 31, 2022, were 14.872 billion RMB, compared to 14.478 billion RMB at the end of 2021[15] - Total assets as of March 31, 2022, were ¥15,401,912,024.54, slightly up from ¥15,383,544,288.61 at the end of 2021[24] - Total liabilities decreased to ¥5,130,371,524.94 from ¥5,170,842,865.41 at the end of 2021, indicating improved financial stability[24] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 43,677[10] - The company’s equity attributable to shareholders was approximately 9.780 billion RMB, slightly up from 9.769 billion RMB year-on-year[16] - The company’s total equity increased to ¥10,271,540,499.60 as of March 31, 2022, from ¥10,212,701,423.20 at the end of 2021, reflecting retained earnings growth[24] Research and Development - Research and development expenses for Q1 2022 were approximately ¥109.64 million, an increase of 4.0% from ¥104.81 million in Q1 2021[18] - The company reported R&D expenses of ¥62,368,340.15 for Q1 2022, a slight increase from ¥61,267,726.00 in Q1 2021, highlighting ongoing investment in innovation[26] Market Conditions - The company’s operating environment was impacted by a decline in market demand, affecting both vehicle and engine sales[12] - Accounts receivable increased by 42.84% compared to the beginning of the year, primarily due to increased credit sales and slower collections[8] - Short-term borrowings rose by 156.47%, mainly due to increased short-term loans from a subsidiary[8] - The company's cash and cash equivalents decreased to approximately 5.040 billion RMB from 6.291 billion RMB year-on-year[13] - Accounts receivable increased to approximately 8.805 billion RMB from 6.164 billion RMB year-on-year[13] - The company’s inventory decreased to approximately 1.676 billion RMB from 2.293 billion RMB year-on-year[14] - Short-term borrowings increased significantly to 2.180 billion RMB from 850 million RMB year-on-year[15] - The company's financial expenses in Q1 2022 included interest expenses of approximately ¥13.63 million, compared to ¥0.52 million in Q1 2021[17] - The gross profit margin for Q1 2022 was approximately 14.4%, down from 15.8% in Q1 2021, reflecting increased cost pressures[26]

Financial Performance - The company achieved a consolidated net profit attributable to the parent company of RMB 692,981,689.17, with earnings per share of RMB 0.56 for the year 2021[6]. - The parent company reported a net profit of RMB 490,912,418.85, after allocating a statutory surplus reserve of RMB 49,091,241.88[6]. - The total distributable profit for shareholders at the end of 2021 was RMB 1,782,147,109.73, after deducting cash dividends of RMB 71,970,599.55 from the previous year[6]. - The proposed profit distribution plan includes a cash dividend of RMB 1.275 per 10 shares (before tax) for all shareholders[6]. - The company's adjusted earnings per share (EPS) for 2021 was CNY 0.561, representing a 65.98% increase compared to CNY 0.338 in 2020[23]. - The net profit attributable to shareholders for 2021 was CNY 692.98 million, an increase of 87.48% from CNY 369.62 million in 2020[23]. - The operating revenue for 2021 reached CNY 24.40 billion, marking an 11.09% increase from CNY 21.96 billion in 2020[23]. - The company reported a net cash flow from operating activities of -CNY 2.18 billion in 2021, a decline of 168.25% compared to CNY 3.19 billion in 2020[23]. - The total assets at the end of 2021 were CNY 24.25 billion, a slight increase of 1.23% from CNY 23.95 billion at the end of 2020[23]. - The weighted average return on equity (ROE) increased to 10.81% in 2021, up by 3.26 percentage points from 7.55% in 2020[23]. - The net profit after deducting non-recurring gains and losses was CNY 487.28 million, a significant increase of 221.50% from CNY 151.56 million in 2020[23]. Asset Restructuring - The company completed a major asset restructuring in 2021, changing its name from Shanghai Diesel Engine Co., Ltd. to Shanghai New Power Automotive Technology Co., Ltd.[15]. - The company completed a significant asset restructuring in 2021, acquiring stakes in several subsidiaries, which enhanced its competitive position in the heavy-duty truck and diesel engine sectors[24]. - The restructuring involved issuing 542,376,492 shares at CNY 8.08 per share and raising a total of CNY 1.999 billion in additional funds[24]. - The company completed a major asset restructuring, shifting its main business focus from diesel engines to a combination of heavy trucks and diesel engines, establishing a new integrated development model[34]. - The company completed a major asset restructuring, acquiring 100% equity in SAIC Hongyan, which expanded the consolidated financial reporting scope[55]. - The company completed a major asset restructuring in 2021, acquiring 50% equity in Shangyi Investment and 56.96% equity in Shangqi Hongyan from SAIC Group, along with other equity purchases[185]. Market and Sales Performance - In 2021, the company achieved sales of 208,117 diesel engines and 63,007 heavy trucks, generating a total revenue of 24.4 billion CNY and a net profit of 693 million CNY[34]. - The heavy truck business faced challenges due to the implementation of the National VI emission standards, resulting in a 13.81% year-on-year decline in heavy truck sales to 1.3953 million units in 2021[37]. - The company reported a 299% year-on-year increase in sales of new energy heavy trucks, reaching 2,017 units in 2021, with a market share of 8.0%[36]. - The domestic commercial vehicle market saw a 6.62% decline in sales to 4.7933 million units in 2021, influenced by various market factors[37]. - The heavy truck business sold 63,007 units, generating sales revenue of RMB 18.08 billion, while the diesel engine segment sold 208,117 units with revenue of RMB 7.08 billion[43]. Research and Development - The company launched 36 new product development projects in 2021, including 45 vehicle models and 106 specialized vehicle types such as concrete mixers and fire trucks[36]. - Research and development expenses increased by 16.95% to RMB 482.69 million, reflecting a focus on enhancing product capabilities and new energy projects[45]. - The company obtained 44 new patents in 2021, including 1 invention patent, 32 utility model patents, and 11 design patents, enhancing its innovation capabilities[36]. - The total R&D expenditure amounted to 644,368,141.95 RMB, representing 2.64% of the operating revenue[60]. - The company is focusing on new energy projects and investments in innovative sectors to explore new business opportunities[35]. Governance and Compliance - The company held three shareholder meetings during the reporting period, ensuring compliance with regulations and protecting shareholder rights[94]. - The board of directors convened 12 meetings, while the board committees held 19 meetings, demonstrating diligent governance practices[94]. - The company strictly adhered to information disclosure regulations, ensuring compliance with the Company Law and Securities Law[94]. - The company has established a robust governance structure that aligns with the requirements of the Company Law and regulatory standards[95]. - The supervisory board held 12 meetings, actively overseeing the actions of directors and management, ensuring accountability[94]. Environmental Responsibility - The company is committed to enhancing its social responsibility efforts, including pollution prevention, resource conservation, and community welfare, with regular disclosures of social responsibility reports[143]. - The company reported a total wastewater discharge of 2.3652 tons/year for COD and 0.4686 tons/year for NH3-N, all within permitted limits[147]. - The company’s air emissions included 1.66269 tons/year of NOx and 10.07924 tons/year of VOCs, all compliant with regulatory standards[149]. - The company has implemented strict waste management practices, including hazardous waste disposal in accordance with regulations[149]. - The company is committed to fulfilling its social responsibilities, as detailed in its annual social responsibility report[167]. Future Plans and Strategies - The company plans to continue its strategic development based on current macroeconomic policies and market conditions, although these are not binding commitments[7]. - The company plans to achieve an operating income of RMB 28.268 billion in 2022, acknowledging the significant external pressures and uncertainties in the macroeconomic environment[89]. - The company aims to enhance its competitive edge in the diesel engine sector by accelerating the implementation of new energy and intelligent engine platforms, focusing on technological innovation and product upgrades[87]. - The company plans to maintain a cash dividend distribution of at least 30% of the average distributable profit over the next three years (2021-2023) under certain conditions[135]. - The company is actively exploring new market opportunities and enhancing its supply chain capabilities to ensure stability amid rising material costs and supply chain challenges[91].

Financial Performance - The company's operating revenue for Q3 2021 was CNY 3,921,456,632.11, a decrease of 39.75% compared to the same period last year[3]. - Net profit attributable to shareholders for Q3 2021 was CNY 114,779,264.75, an increase of 26.52% year-on-year[3]. - The net profit after deducting non-recurring gains and losses for Q3 2021 was CNY 114,286,209.34, a significant increase of 281.02% compared to the previous year[3]. - The basic earnings per share for Q3 2021 was CNY 0.092, up 10.15% from CNY 0.083 in the same period last year[3]. - The company achieved a revenue of 21.012 billion RMB in the first nine months of 2021, representing a year-on-year growth of 8.21%[12]. - The net profit attributable to the parent company was 473.73 million RMB, an increase of 17.19% year-on-year[12]. - Net profit for the first three quarters of 2021 was ¥595,654,041.89, slightly down from ¥599,302,121.58 in 2020, showing a decrease of approximately 0.4%[18]. - The company's net profit attributable to the parent company for Q3 2021 was CNY 480,763,447.08, an increase of 14.6% compared to CNY 419,442,964.40 in Q3 2020[19]. - The total comprehensive income for Q3 2021 was CNY 602,689,631.10, slightly down from CNY 614,501,018.56 in the same period last year[19]. - Basic earnings per share for Q3 2021 increased to CNY 0.420 from CNY 0.370 in Q3 2020, representing a growth of 13.5%[19]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 21,527,997,695.88, a decrease of 8.82% from the end of the previous year[3]. - Cash and cash equivalents decreased by 56.60%, primarily due to increased payables for vehicle business and payments for equity investments[7]. - Accounts receivable increased by 139.81%, driven by increased credit invoicing for vehicle dealers and higher sales of diesel engines[7]. - Inventory decreased by 61.92%, influenced by the transition to new emission standards and accelerated sales of National V vehicles[7]. - Long-term equity investments surged by 353.97% following the completion of significant asset restructuring in August 2021[7]. - The total assets of the company as of September 30, 2021, were ¥21,527,997,695.88, down from ¥23,611,321,739.54 at the end of 2020, indicating a decrease of approximately 8.8%[15]. - The total liabilities decreased to ¥14,273,527,485.37 from ¥18,038,106,160.10, a decline of about 20.5%[15]. - The company's equity attributable to shareholders increased to ¥7,254,470,210.51 from ¥4,875,201,502.52, representing a growth of approximately 48.7%[15]. Cash Flow - The net cash flow from operating activities was negative CNY 2,742,735,141.93, indicating a significant decline compared to the previous year[3]. - Cash inflow from operating activities for the first three quarters of 2021 was CNY 12,011,437,030.39, up from CNY 11,356,647,299.47 in the same period of 2020[22]. - The net cash flow from operating activities for Q3 2021 was negative at CNY -2,742,735,141.93, compared to a positive CNY 961,889,313.92 in Q3 2020[22]. - The company reported a net cash outflow from investing activities of CNY -633,912,662.89 for the first three quarters of 2021, compared to CNY -216,752,676.98 in the same period of 2020[22]. - The total cash outflow from financing activities in Q3 2021 was CNY 87,100,804.30, significantly lower than CNY 816,892,127.08 in Q3 2020[23]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 48,419[9]. - The major shareholders include Shanghai Automotive Group with a 55.57% stake and Chongqing Machinery Holding Group with a 12.48% stake[11]. Asset Restructuring - The company completed a major asset restructuring, acquiring stakes in several subsidiaries, which has been approved by the China Securities Regulatory Commission[4]. - The company is in the process of raising matching funds related to the major asset restructuring[4]. - The company completed a major asset restructuring, acquiring stakes in key subsidiaries to enhance its competitive position in the heavy truck and diesel engine sectors[11]. Research and Development - Research and development expenses rose by 41.90% due to increased costs associated with new vehicle projects[7]. - Research and development expenses for the first three quarters of 2021 were ¥360,522,343.34, compared to ¥254,074,311.44 in 2020, reflecting an increase of about 41.8%[18]. Other Financial Metrics - The company reported a non-recurring loss from asset disposal of CNY -8,389,747.37 for the current period[6]. - The company experienced a foreign exchange loss of CNY -1,361,345.77 in Q3 2021, compared to a loss of CNY -7,499,477.35 in Q3 2020[23]. - The net profit of the merged entity prior to consolidation was CNY 275,271,780.27 for the current period, down from CNY 461,511,834.16 in the previous period[19]. - The company reported a negative retained earnings of approximately -$181.78 million[26].

Financial Performance - The company's operating revenue for the first half of 2021 was approximately CNY 3.94 billion, representing a 45.31% increase compared to CNY 2.71 billion in the same period last year[19]. - The net profit attributable to shareholders for the first half of 2021 was approximately CNY 191.58 million, a 72.86% increase from CNY 110.83 million in the previous year[19]. - The net cash flow from operating activities was CNY 69.54 million, a significant improvement from a negative cash flow of CNY 33.82 million in the same period last year[19]. - The total assets at the end of the reporting period were approximately CNY 10.13 billion, reflecting a 10.32% increase from CNY 9.18 billion at the end of the previous year[19]. - The net assets attributable to shareholders increased to approximately CNY 4.10 billion, a 3.00% rise from CNY 3.98 billion at the end of the previous year[19]. - The basic earnings per share for the first half of 2021 was CNY 0.221, up 72.86% from CNY 0.128 in the same period last year[20]. - The company achieved diesel engine sales of 110,797 units, representing a year-on-year increase of 69.43%[30]. - Operating costs rose to approximately CNY 3.32 billion, reflecting a 46.22% increase from CNY 2.27 billion year-on-year, primarily due to increased sales of diesel engines[37]. Asset Management - The company reported a total of CNY 21.74 million in non-recurring gains and losses for the reporting period[22]. - The company’s inventory increased by 23.35% to approximately CNY 958.83 million, reflecting higher raw material and diesel engine stock levels due to increased sales[40]. - The total assets at the end of the reporting period were significantly impacted, with accounts receivable increasing by 114.36% to approximately CNY 526.76 million compared to CNY 245.74 million at the end of the previous year[40]. - The company reported a significant increase in accounts payable, which rose to CNY 1,879,900,992.37 from CNY 1,662,565,495.59, an increase of 13.1%[104]. Strategic Initiatives - The company is actively promoting a major asset restructuring plan approved by the China Securities Regulatory Commission, which involves issuing shares and cash to purchase assets[23]. - The company plans to enhance market expansion efforts and strengthen marketing channel construction in the second half of 2021[32]. - The company aims to accelerate the development of new energy products, focusing on hybrid, pure electric, and fuel cell technologies[32]. - The company plans to actively promote the follow-up implementation of a major asset restructuring approved by the China Securities Regulatory Commission[33]. - The company is committed to digital transformation and has implemented Smart Engine technology for real-time monitoring and remote control of engines[31]. Risk Management - The company has outlined various risks in its operations, including market and policy risks, and has provided measures to address these risks[7]. - The company faces risks including macroeconomic instability, intense industry competition, and market share loss to new energy sources, with strategies to enhance market development and technological innovation[47][48]. Environmental Compliance - The company is classified as a key pollutant discharge unit, with specific measures in place to manage wastewater and emissions according to local environmental standards[55]. - The company reported a chemical oxygen demand (COD) discharge of 0.5166 tons and ammonia nitrogen (NH3-N) discharge of 0.2885 tons, both meeting standard limits[56]. - Nitrogen oxides (NOx) emissions were recorded at 0.9707 tons, sulfur dioxide (SO2) at 0.0802 tons, and volatile organic compounds (VOCs) at 5.4086 tons, all within compliance[57]. - The company has established a comprehensive management system for pollution prevention, including regular inspections and upgrades of wastewater and air treatment facilities[58]. Corporate Governance - The company committed to avoiding any potential competition with its parent company, Shanghai Automotive, ensuring no business operations that compete with its subsidiaries[68]. - The company will ensure that any related transactions are conducted fairly and transparently, protecting the interests of minority shareholders[70]. - The company will comply with legal and regulatory requirements regarding information disclosure for significant related transactions[70]. - The commitments made during the restructuring will be strictly followed to maintain corporate governance standards[70]. Shareholder Relations - The company has a total of 45,584 common shareholders at the end of the reporting period[93]. - The largest shareholder, Shanghai Automotive Group Co., Ltd., holds 416,452,530 shares, representing 48.05% of the total shares[96]. - The company has not reported any changes in its share capital structure during the reporting period[92]. Financial Reporting - The company has not reported any significant new product launches or technological advancements in this period[126]. - The financial statements are prepared based on the going concern assumption, ensuring the company's ability to continue its operations[133]. - The company does not apply different revenue recognition policies for similar businesses operating under different models[185]. - Management makes significant judgments and estimates that affect the reported amounts of revenues, expenses, assets, and liabilities in the financial statements[200].