证券代码：900953 证券简称：凯马 B 公告编号：2023-013 恒天凯马股份有限公司 关于召开 2022 年度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 恒天凯马股份有限公司（以下简称"公司"）已于 2023 年 4 月 28 日发布公司 2022 年度报告，为便于广大投资者更全面深入地了解 公司 2022 年度经营成果、财务状况，公司计划于 2023 年 06 月 09 日 上午 09:00-10:00 举行 2022 年度业绩说明会，就投资者关心的问题 进行交流。 一、 说明会类型 本次投资者说明会以网络文字互动形式召开，公司将针对 2022 会议召开时间：2023 年 06 月 09 日(星期五) 上午 09:00-10:00 会议召开地点：上海证券交易所上证路演中心（网址： 会议召开方式：上证路演中心网络互动 投资者可于 2023 年 06 月 02 日(星期五) 至 06 月 08 日(星期 四)16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或 通过公司邮箱 lucy ...

Financial Performance - The company's operating revenue for Q1 2023 was ¥741,095,193.12, representing a decrease of 25.85% compared to the same period last year[3]. - The net profit attributable to shareholders was a loss of ¥1,765,618.22, a decline of 209.24% year-on-year[3]. - The basic and diluted earnings per share were both -¥0.0028, reflecting a decrease of 209.24% compared to the previous year[3]. - Total operating revenue for Q1 2023 was ¥741,095,193.12, a decrease of 25.8% compared to ¥999,442,910.65 in Q1 2022[16]. - Net profit for Q1 2023 was ¥3,179,490.68, a decline of 60.0% from ¥7,945,866.44 in Q1 2022[16]. - The company reported a loss attributable to shareholders of ¥1,765,618.22 in Q1 2023, compared to a profit of ¥1,616,226.52 in Q1 2022[16]. - Basic and diluted earnings per share for Q1 2023 were both -¥0.0028, compared to ¥0.0025 in Q1 2022[17]. Assets and Liabilities - The total assets at the end of Q1 2023 were ¥3,751,400,450.72, an increase of 1.79% from the end of the previous year[4]. - Total assets as of Q1 2023 amounted to ¥3,751,400,450.72, an increase from ¥3,685,367,891.43 in the previous year[11]. - Total liabilities for Q1 2023 were ¥3,112,913,960.32, up from ¥3,050,060,891.71 in Q1 2022[11]. - Non-current liabilities totaled ¥380,084,660.56 in Q1 2023, a slight decrease from ¥387,574,760.20 in Q1 2022[11]. - The company's total assets as of March 31, 2023, were ¥383,271,484.64, a decrease from ¥411,381,537.55 as of December 31, 2022[22]. - The total liabilities decreased to ¥286,394,146.85 as of March 31, 2023, from ¥308,872,187.79 as of December 31, 2022[23]. - The company's total equity as of March 31, 2023, was ¥96,877,337.79, down from ¥102,509,349.76 as of December 31, 2022[24]. Cash Flow - The net cash flow from operating activities was ¥19,569,949.09, with no comparative data available[3]. - In Q1 2023, the company's operating cash flow net amount was ¥19,569,949.09, a significant improvement from a net loss of ¥92,723,039.56 in Q1 2022[20]. - Total cash inflow from operating activities in Q1 2023 was ¥435,601,283.59, down 26.8% from ¥594,754,061.47 in Q1 2022[20]. - Cash outflow from operating activities decreased to ¥416,031,334.50 in Q1 2023, compared to ¥687,477,101.03 in Q1 2022, reflecting a 39.5% reduction[20]. - The company reported a net cash flow from investment activities of ¥342,626.22 in Q1 2023, recovering from a net outflow of ¥3,273,064.91 in Q1 2022[20]. - Cash inflow from financing activities totaled ¥261,930,000.00 in Q1 2023, down 31.3% from ¥381,324,475.45 in Q1 2022[21]. - The net cash flow from financing activities was negative at -¥66,098,651.30 in Q1 2023, compared to a positive net flow of ¥37,069,237.79 in Q1 2022[21]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 24,102[7]. - The largest shareholder, China Hengtian Group Co., Ltd., held 29.83% of the shares, totaling 190,926,520 shares[7]. Government Subsidies and Other Income - The company received government subsidies amounting to ¥15,877,447.02, which were closely related to its normal business operations[5]. - The company reported other income of ¥19,237.96 in Q1 2023, compared to ¥25,243.33 in Q1 2022, indicating a decline of approximately 23.8%[25]. Research and Development - The company has reported ongoing research and development expenses of ¥9,680,130.84 in Q1 2023, an increase from ¥8,308,500.90 in Q1 2022[16].

Financial Performance - The company's operating revenue for 2022 was CNY 2,861,485,606.29, a decrease of 28.25% compared to CNY 3,987,968,708.00 in 2021[19]. - The net profit attributable to shareholders for 2022 was a loss of CNY 177,731,786.94, slightly improved from a loss of CNY 178,151,998.89 in 2021[19]. - The net cash flow from operating activities was CNY 88,407,218.35, a significant recovery from a negative cash flow of CNY 250,821,628.62 in 2021[19]. - The total assets decreased by 16.46% to CNY 3,685,367,891.43 at the end of 2022, down from CNY 4,411,446,092.36 in 2021[19]. - The net assets attributable to shareholders decreased by 29.36% to CNY 429,518,321.03 at the end of 2022, compared to CNY 608,041,253.61 in 2021[19]. - The basic earnings per share for 2022 remained at -CNY 0.28, unchanged from 2021[20]. - The weighted average return on net assets was -34.29% in 2022, a decrease of 8.74 percentage points from -25.55% in 2021[20]. - The company reported a net profit of CNY -246,937,394.82 after deducting non-recurring gains and losses, compared to CNY -189,395,760.79 in 2021[19]. - The company reported a significant decrease in accounts receivable by 28.29% to approximately 554 million RMB, and inventory decreased by 16.88% to approximately 548 million RMB[46]. - The company reported a total of 1.96 billion yuan in loans to its controlling shareholder, with a repayment of 1.4 billion yuan, leaving a balance of 56 million yuan as of December 31, 2022[121]. Sales and Market Performance - In 2022, the company sold 54,000 cargo vehicles, a decrease of 21.28% year-on-year[30]. - The company experienced a significant decline in sales of internal combustion engine products, with 191,500 units sold, a decrease of 24.40% year-on-year[30]. - The total sales volume of cargo vehicles decreased by 21.28% year-on-year, with light trucks down 61.13% and medium trucks down 72.97%[50]. - The company achieved a 119.73% increase in sales of pure electric logistics vehicles, totaling 1,325 units sold during the year[53]. - The revenue from pure electric logistics vehicles was approximately 107 million RMB, with subsidies amounting to approximately 909,000 RMB, representing 8.49% of the revenue[55]. Operational Challenges - The company faced challenges due to macroeconomic factors, including chip shortages and high raw material prices, leading to overall market demand weakness[26]. - The automotive industry saw a decline in truck production and sales, with a year-on-year drop of 23.97% and 21.89% respectively[27]. - The company maintained a focus on sustainable development and diversified cooperation models to stabilize product sales[29]. Governance and Management - The company has established a robust governance structure to protect shareholder rights and ensure compliance with legal regulations[65]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with relevant laws and regulations[66]. - The company has a comprehensive information disclosure system to ensure timely and accurate communication with shareholders[67]. - The total pre-tax remuneration for the board members and senior management during the reporting period amounted to 506.9 million CNY[74]. - The company has a diverse board with members having extensive experience in various sectors, including finance and management[74]. - The company has appointed new directors and supervisors in 2022, indicating a potential shift in governance structure[72]. - The company has established a clear process for determining the remuneration of its directors and supervisors, aligning with corporate governance best practices[79]. Environmental and Social Responsibility - The company invested 49.2 million CNY in environmental protection during the reporting period[98]. - The company has actively participated in poverty alleviation projects, with a total investment of 8.97 million yuan in rural revitalization efforts[111]. - The company has implemented online monitoring systems for pollution control, ensuring compliance with environmental standards[101]. - The company has established a carbon emission reduction plan aiming for peak carbon emissions by 2030, aligning with national policies[106]. Financial Management and Compliance - The company's financial statements were prepared in accordance with new accounting standards and received a standard unqualified audit opinion[97]. - The company has not faced any penalties from securities regulatory agencies in the past three years, reflecting compliance with regulations[81]. - The company has not reported any significant internal control deficiencies during the reporting period[96]. - The company has not encountered any violations regarding guarantees during the reporting period[115]. - The company has not disclosed any significant contracts or other major matters affecting investor decisions[128]. Future Outlook and Strategy - The company anticipates a recovery in light truck demand in 2023 due to government policies aimed at boosting consumption and domestic demand[58]. - The company aims to become a leader in the second tier of commercial vehicles by focusing on high-quality development and implementing five strategic tasks[60]. - The company is focusing on the commercial vehicle sector, particularly in new energy vehicles and air-cooled diesel engines, aiming for significant improvements in operational efficiency and cost reduction[61]. - The company is committed to reducing manufacturing costs and controlling procurement expenses by closely monitoring raw material price trends[61].

Financial Performance - The company's operating revenue for the first half of 2022 was approximately CNY 1.58 billion, a decrease of 32.17% compared to CNY 2.33 billion in the same period last year[16]. - The net profit attributable to shareholders for the first half of 2022 was a loss of approximately CNY 85.70 million, compared to a loss of CNY 33.36 million in the previous year[16]. - The basic earnings per share for the first half of 2022 was -CNY 0.13, compared to -CNY 0.05 in the same period last year[16]. - The weighted average return on net assets decreased to -17.87% from -4.33% year-on-year, a decline of 13.54 percentage points[16]. - The net cash flow from operating activities for the first half of 2022 was a negative CNY 12.05 million, compared to a negative CNY 85.46 million in the same period last year[16]. - The net profit attributable to the parent company was -85.7 million RMB, with a total profit of -122.13 million RMB[20]. - The net loss for the first half of 2022 was CNY 123,774,755.40, compared to a net loss of CNY 36,583,800.84 in the first half of 2021, representing an increase in loss of 238.5%[84]. - The total equity attributable to shareholders decreased to CNY 250,998,350.90 from CNY 264,207,586.69 year-on-year[82]. Market Conditions - The company operates in a highly competitive market for cargo vehicles, diesel engines, and mining machinery, with significant declines in production and sales reported in the industry[18]. - The production and sales of medium-duty trucks decreased by 42.31% and 47.24% respectively in the first half of 2022[18]. - The company faced market risks due to oversupply in the truck industry and ongoing uncertainties related to COVID-19[28]. Operational Developments - The company has focused on product upgrades and quality assurance, aligning its strategy with industry development trends[19]. - The company launched 3 new four-wheel dump trucks and 6 large yellow card dump trucks, obtaining 46 new product announcements in the first half of the year[20]. - The company is accelerating product layout and increasing R&D investment to comply with national emission standards[29]. - The company’s research and development expenses increased by 5.84% to 18.42 million RMB, reflecting a focus on product upgrades[24]. Financial Position - The total assets at the end of the reporting period were approximately CNY 4.43 billion, a slight increase of 0.48% from CNY 4.41 billion at the end of the previous year[16]. - The company's total liabilities reached CNY 3,691,578,348.60, compared to CNY 3,546,723,275.59 at the beginning of the period, reflecting an increase of approximately 4.07%[78]. - The total equity of the company decreased to CNY 740,999,410.79 from CNY 864,722,816.77, a decline of about 14.3%[78]. - The company's cash and cash equivalents decreased to CNY 519,961,059.50 from CNY 529,618,865.10, a decline of approximately 1.24%[76]. Environmental Compliance - The company is committed to environmental protection and has completed environmental impact assessments for its construction projects[42]. - The company has implemented environmental monitoring systems that are connected to regulatory authorities for real-time data[41]. - The company has established emergency response plans for environmental incidents and conducts regular drills[43]. - The company’s subsidiaries, Shandong Kaima Automobile Manufacturing Co., Ltd. and Shandong Huayuan Laidong Internal Combustion Engine Co., Ltd., are classified as key pollutant discharge units and have obtained discharge permits[38]. Shareholder Information - The top shareholder, China Hengtian Group Co., Ltd., holds 190,926,520 shares, representing 29.83% of the total shares[68]. - The second-largest shareholder, Weichai Holding Group Co., Ltd., holds 77,649,853 shares, representing 12.13% of the total shares[68]. - The third-largest shareholder, Nanchang Guojin Industrial Investment Co., Ltd., holds 64,000,000 shares, representing 10.00% of the total shares[68]. Related Party Transactions - The company engaged in related party transactions, with sales of vehicles to Dongfeng Motor Co., amounting to CNY 584,226,722.40, representing 37.95% of similar transactions[52]. - The company’s procurement from Dongfeng Motor Co. for cargo vehicles totaled CNY 104,769,439.12, accounting for 8.12% of similar transactions[52]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[49]. Legal Matters - The company reported a significant legal dispute involving its subsidiary, Shandong Kaima Automobile Manufacturing Co., which was ruled against in a civil judgment by the Beijing High People's Court[50]. - The company’s subsidiary, Shandong Huayuan Laidong Internal Combustion Engine Co., is involved in a land use rights transfer dispute, which has been formally accepted by the Laiyang People's Court[50]. Accounting Policies - The financial statements are prepared in accordance with the accounting standards set by the Ministry of Finance, ensuring compliance and accuracy[106]. - The company recognizes the fair value of identifiable assets and liabilities in business combinations under common and non-common control[110]. - The company measures cash and cash equivalents as cash on hand and deposits available for payment[116]. Credit Risk Management - The company assesses credit risk for financial instruments at each reporting date, categorizing them into three stages for impairment measurement based on changes in credit risk since initial recognition[126]. - The expected credit loss rate for other receivables ranges from 0% to 100%, determined based on the balance sheet date[130]. - The company recognizes impairment losses for financial assets based on the expected credit loss model, ensuring accurate financial reporting and risk management[126].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 999,442,910.65, representing a decrease of 2.37% compared to the same period last year[5]. - Total revenue for Q1 2022 was CNY 999,442,910.65, a decrease of 2.5% compared to CNY 1,023,694,247.79 in Q1 2021[18]. - Net profit for Q1 2022 was CNY 7,945,866.44, compared to a net loss of CNY 24,471,118.80 in Q1 2021, indicating a significant turnaround[19]. - The company reported a total comprehensive income for the first quarter of 2022 was CNY 7,945,866.44, a decrease of 24,471,118.80 compared to the same period in 2021[20]. - The net profit attributable to shareholders was CNY 1,616,226.52, while the net profit after deducting non-recurring gains and losses was CNY -14,954,934.74[5]. - The company reported a total comprehensive loss of CNY 5,303,474.81 for Q1 2022, compared to a comprehensive income of CNY 30,972,202.72 in Q1 2021[27]. Cash Flow - The net cash flow from operating activities was CNY -92,723,039.56, indicating a significant cash outflow[5]. - Net cash flow from operating activities was -CNY 92,723,039.56, an improvement from -CNY 132,729,440.23 in the first quarter of 2021[23]. - Cash received from sales of goods and services was CNY 571,735,129.55, down 15% from CNY 672,747,494.01 in the first quarter of 2021[22]. - Cash paid for goods and services was CNY 562,655,045.83, a decrease of approximately 19% from CNY 693,293,851.51 in the same period last year[23]. - Cash inflow from financing activities was CNY 37,069,237.79, significantly higher than CNY 4,092,615.50 in the same period last year[23]. - The financing activities resulted in a net cash outflow of CNY 11,840,663.89 in Q1 2022, contrasting with a net inflow of CNY 6,771,647.22 in Q1 2021[28]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,591,572,320.09, an increase of 4.08% from the end of the previous year[5]. - Total assets as of March 31, 2022, were CNY 4,591,572,320.09, up from CNY 4,411,446,092.36 at the end of 2021, an increase of 4.1%[15]. - Total liabilities increased to CNY 3,718,593,091.62 from CNY 3,546,723,275.59, reflecting a rise of 4.8%[16]. - Total liabilities decreased to CNY 310,057,353.41 from CNY 318,716,175.53 at the end of 2021[25]. - The total liabilities and shareholders' equity amounted to CNY 568,961,465.29, down from CNY 582,923,762.22 in the previous year[26]. Operational Metrics - The weighted average return on equity increased by 3.11 percentage points to 0.27%[5]. - The company experienced a 32.22% increase in other operating income, mainly from the write-off of payable accounts[6]. - The company signed a procurement contract to supply 4,000 new energy vehicles, with a payment of CNY 32.3 million received, but faced legal challenges due to vehicle registration issues[11]. - Accounts receivable increased by 53.33% primarily due to sales not yet reaching the collection period[6]. - Accounts receivable increased to CNY 1,185,711,150.00 from CNY 773,304,395.85, representing a growth of 53.3%[14]. - The company reported a decrease in research and development expenses to CNY 8,308,500.90 from CNY 8,876,716.31, a reduction of 6.4%[19]. - The company’s inventory decreased to CNY 603,332,006.45 from CNY 659,154,567.05, a decline of 8.5%[14]. - The company's total operating costs for Q1 2022 were CNY 2,009,347.98, with management expenses at CNY 2,587,268.92, down from CNY 4,559,529.09 in Q1 2021[26]. - Interest expenses for Q1 2022 were CNY 2,969,013.33, slightly lower than CNY 3,238,000.00 in Q1 2021[26]. Investment Activities - The company received CNY 13,020,000.00 from investment activities in Q1 2022, compared to CNY 3,000,000.00 in Q1 2021[28]. - The company reported a 114.63% increase in development expenditures due to increased investment in new product research and development for cargo vehicles[6].

Financial Performance - The company's operating revenue for 2021 was CNY 3,987,968,708, a slight increase of 0.32% compared to CNY 3,975,263,381.79 in 2020[20]. - The net profit attributable to shareholders of the listed company for 2021 was a loss of CNY 178,151,998.89, a decrease of 1,192.31% compared to a profit of CNY 16,309,650.82 in 2020[20]. - The net cash flow from operating activities was a negative CNY 250,821,628.62, a decline of 1,894.67% compared to CNY 13,975,955.56 in 2020[20]. - The total assets at the end of 2021 were CNY 4,411,446,092.36, a decrease of 10.87% from CNY 4,949,615,546.75 at the end of 2020[20]. - The net assets attributable to shareholders of the listed company decreased by 22.68% to CNY 608,041,253.61 from CNY 786,360,141.65 in 2020[20]. - The basic earnings per share for 2021 was -CNY 0.28, a decrease of 1,033.33% compared to CNY 0.03 in 2020[21]. - The weighted average return on equity was -25.55% for 2021, a decline of 27.65 percentage points from 2.1% in 2020[22]. - The company reported a significant decrease in non-operating income by 79.86% to CNY 5,975,446.67 from CNY 29,663,789.40 year-on-year[41]. - The company reported a net loss of ¥868,327,135.85 for the fiscal year 2021, resulting in no cash dividend distribution or capital reserve increase[109]. Revenue and Sales - The company reported a decrease in revenue from core business activities, with a total of CNY 3,851,616,984.68, down 0.95% from CNY 3,888,533,135.11 in 2020[20]. - The company sold 68,700 units of cargo vehicles, representing a year-on-year growth of 9.22%[40]. - The sales volume of cargo vehicles increased by 9.22% to 68,729 units, while production volume rose by 7.96% to 69,619 units[46]. - Total vehicle sales increased by 9.22% year-on-year, with micro trucks showing a significant increase of 51.43%[66]. - New energy vehicle sales reached 603 units, a 38.94% increase compared to the previous year, with revenue from electric vehicles at ¥28.77 million[69][71]. Costs and Expenses - Operating costs increased by 2.52% to CNY 3,861,519,862.65 from CNY 3,766,580,068.88 year-on-year[41]. - Research and development expenses decreased by 9.61% to CNY 42,127,356.98 from CNY 46,606,595.86 year-on-year[41]. - The gross profit margin for the manufacturing sector decreased by 2.82% to 2.33% compared to the previous year[44]. - The company reported a significant increase in management expenses, rising to RMB 214,516,001 in 2021 from RMB 143,272,669 in 2020, an increase of about 49.7%[191]. - The company experienced a credit impairment loss of RMB 52,932,836 in 2021, compared to RMB 21,895,170 in 2020, reflecting a deterioration in asset quality[192]. Cash Flow - The net cash flow from financing activities decreased by 58.01% to CNY 34,665,195.26 from CNY 82,547,700.56 in the previous year[41]. - Operating cash flow for 2021 was negative at -250,821,628.62, a significant decline from a positive 13,975,955.56 in 2020[199]. - The ending balance of cash and cash equivalents for 2021 was 95,581,850.45, down from 233,887,098.95 in 2020, indicating a decrease of approximately 59.1%[200]. - The company received 513,000,000.00 in borrowings in 2021, an increase from 479,000,000.00 in 2020, representing an increase of about 7.0%[200]. Risk Management and Governance - The company has acknowledged the presence of various risk factors in its operations, as detailed in the management discussion and analysis section of the report[7]. - The company is focusing on enhancing risk management and financial control to ensure stable operations[35]. - The company has established a governance structure that ensures effective decision-making and risk management, protecting shareholder rights[84]. - The company maintains a commitment to transparent information disclosure, ensuring all shareholders have equal access to relevant information[86]. - The company has a structured approach to management with designated roles for monitoring and auditing, ensuring financial integrity[93]. Corporate Social Responsibility - The company donated 406,900 yuan for educational support and assistance for employees with serious illnesses[127]. - The company donated a total of 440,000 RMB to support poverty alleviation and rural revitalization efforts in 2021[128]. - The company provided 100,000 RMB in donations specifically for rural revitalization work in Pinglu County[128]. - The company has been actively supporting local agricultural products through purchasing initiatives[128]. Legal and Compliance - The company has ongoing litigation involving its subsidiary, Shandong Kaima Automobile Manufacturing Co., with a case currently in execution[135]. - The company has filed an appeal against a ruling from the Shandong Provincial High People's Court, which upheld a lower court's decision not to support its claims in a contract dispute[136]. - The company has not faced any penalties from securities regulatory agencies in the past three years[98]. - The company has not reported any changes in shareholding for its directors and senior management during the reporting period[91]. Employee and Management Changes - The company reported a significant leadership change with the resignation of the chairman due to retirement, effective January 13, 2022[92]. - The company has a diverse board with members holding various significant positions in other organizations, indicating strong industry connections[93]. - The company has seen a significant turnover in its supervisory board, with multiple members being elected during the recent restructuring[97]. - The total number of employees at the parent company and major subsidiaries is 4,159, with 3,019 in production roles and 425 in sales[105].

Financial Performance - The company's operating revenue for Q3 2021 was ¥901,953,110.45, a decrease of 1.61% compared to the same period last year[4]. - Total operating revenue for the first three quarters of 2021 reached ¥3,236,581,924.70, an increase of 7.43% compared to ¥3,013,677,560.28 in the same period of 2020[18]. - Total operating costs for the first three quarters of 2021 were ¥3,378,792,015.60, up from ¥3,111,507,914.91 in 2020, reflecting a year-over-year increase of 8.59%[18]. - The net loss for the first three quarters of 2021 was ¥91,332,818.31, compared to a net loss of ¥51,401,638.99 in the same period of 2020, indicating a worsening of 77.5%[19]. - The net profit attributable to shareholders was a loss of ¥43,858,460.72, with a year-to-date loss of ¥77,216,420.13[4]. - The company reported a total comprehensive loss attributable to shareholders of the parent company of ¥77,216,420.13 for the first three quarters of 2021, compared to a loss of ¥42,823,614.59 in the same period of 2020[19]. Assets and Liabilities - The total assets at the end of the reporting period were ¥5,074,723,007.06, an increase of 2.53% from the end of the previous year[5]. - Total assets reached ¥5,074,723,007.06, up from ¥4,949,615,546.75, which is an increase of about 2.5%[15]. - As of September 30, 2021, total current assets amounted to ¥2,961,096,353.82, an increase from ¥2,760,124,884.44 in December 2020, reflecting a growth of approximately 7.3%[14]. - The company's total liabilities as of the end of the third quarter of 2021 amounted to ¥4,086,799,752.24, an increase from ¥3,848,708,553.86 at the end of 2020[16]. - Total liabilities amounted to 3,848,708,553.86, with current liabilities at 3,226,639,566.83, reflecting an increase of 164,554,001.10 compared to the previous period[26]. - Non-current liabilities decreased to 622,068,987.03, down by 164,554,001.10 from the previous period[26]. Cash Flow - The cash flow from operating activities showed a net outflow of ¥188,302,709.43, representing a significant decrease of 290.38% year-on-year[4]. - Cash received from sales of goods and services in the first three quarters of 2021 was ¥2,258,880,030.78, down from ¥2,858,192,585.40 in the same period of 2020, representing a decline of 21%[20]. - The net cash flow from operating activities was -188,302,709.43 RMB, a decrease compared to 98,907,152.49 RMB in the previous year[21]. - Total cash inflow from operating activities was 2,371,393,630.03 RMB, while cash outflow was 2,559,696,339.46 RMB, resulting in a net cash outflow[21]. - The ending balance of cash and cash equivalents was 132,698,249.96 RMB, down from 178,692,315.09 RMB year-over-year[22]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 25,376[9]. - The largest shareholder, China Hengtian Group Co., Ltd., holds 29.83% of the shares[9]. - The total equity attributable to shareholders of the parent company decreased to ¥708,919,730.22 from ¥786,360,141.65 in the previous year[16]. - Total equity reached 1,100,906,992.89, with attributable equity to shareholders at 786,360,141.65[26]. Legal and Restructuring Issues - The company is currently involved in legal disputes regarding unpaid amounts totaling ¥57,047,200 and ¥46,482,600 related to vehicle sales and performance guarantees[11][12]. - The company has initiated litigation against Beijing Kema New Energy Company for outstanding payments of ¥45,839,900, with a court ruling in favor of the company[13]. - The company is in the process of restructuring its financial obligations and has reported a claim amount of ¥84,464,000 against Zhongke Construction Company due to bankruptcy proceedings[13]. Research and Development - The company reported a 460.40% increase in development expenditures, primarily due to increased investment in new product research and development for cargo vehicles[6]. - Research and development expenses for the first three quarters of 2021 were ¥25,912,466.59, compared to ¥27,981,782.77 in the same period of 2020, showing a decrease of 7.4%[18].

Financial Performance - The company's operating revenue for the first half of 2021 was approximately CNY 2.33 billion, representing an increase of 11.33% compared to the same period last year[17]. - The net profit attributable to shareholders for the first half of 2021 was a loss of approximately CNY 33.36 million, compared to a loss of CNY 26.08 million in the previous year[17]. - The net cash flow from operating activities was negative CNY 85.46 million, a decrease of 579.63% compared to a positive cash flow of CNY 17.82 million in the same period last year[17]. - The total assets at the end of the reporting period were approximately CNY 5.21 billion, an increase of 5.26% from the end of the previous year[17]. - The company reported a weighted average return on net assets of -4.33%, down from -3.45% in the previous year[17]. - The total profit for the period was a loss of CNY 31.988 million, with a net profit attributable to the parent company of CNY -33.358 million[21]. - The company reported a net loss of ¥434,535,804.23 for the first half of 2021, compared to a loss of ¥401,177,844.82 in the same period of 2020[79]. - The net loss for the first half of 2021 was CNY 36,583,800.84, compared to a net loss of CNY 32,119,808.45 in the same period of 2020, reflecting a decline of 13.3%[84]. Sales and Production - The sales of internal combustion engines in the first half of 2021 reached 25.07 million units, a year-on-year increase of 28.16%[19]. - The production and sales of trucks in the first half of 2021 were 1.58 million and 1.63 million units, respectively, with a year-on-year growth of 10.67% and 14.74%[19]. - The company achieved a sales volume of 40,000 trucks, representing a year-on-year increase of 23.40%[21]. - The sales volume of single-cylinder and multi-cylinder diesel engines decreased by 3.31% to 33,500 units[21]. Strategic Direction and Market Position - The company aims to enhance its product quality and market structure, focusing on providing equipment for the agricultural sector, which aligns with its strategic direction[20]. - The company has achieved a diversified equity structure in its main subsidiaries, maintaining stable profitability in its core business[20]. - The company’s main products have a strong cost advantage in their respective market segments, demonstrating competitive strength[20]. - The company’s strategic cooperation with Dongfeng Motor deepened, with a year-on-year growth of 31% in Dongfeng brand products[22]. Environmental and Compliance Measures - The company has implemented environmental monitoring measures, with wastewater and air emissions from its subsidiaries meeting regulatory standards[41]. - The company has equipped its subsidiaries with pollution control facilities, ensuring compliance with environmental regulations and effective operation of monitoring equipment[43]. - The company has established emergency response plans for environmental incidents and conducts regular drills to ensure preparedness[45]. - The company has revised its self-monitoring plan for pollution, ensuring accurate monitoring data and reducing risks associated with monitoring quality[46]. - The company is actively expanding its environmental protection measures in line with new construction projects, adhering to energy-saving and environmental design standards[44]. - There were no administrative penalties related to environmental issues during the reporting period[48]. Governance and Management Changes - The company held two temporary shareholder meetings in January 2021, approving various governance and financial proposals[36]. - The company has undergone significant changes in its board and management personnel, with multiple elections and appointments taking place[38]. Related Party Transactions - The company disclosed related party transactions amounting to ¥64,724 million for the sale of cargo vehicles, representing 27.72% of similar transactions[55]. - The company engaged in related party transactions for vehicle procurement totaling ¥17,214.09 million, accounting for 8.57% of similar transactions[55]. - The company reported a loan of ¥40,000,000 from its controlling shareholder's financial subsidiary, with a loan interest rate of 4.30%[60]. - The company has a deposit balance of ¥465,792,258.72 with its controlling shareholder's financial subsidiary, with a maximum deposit limit of ¥700,000,000[58]. Financial Liabilities and Guarantees - Total guarantee amount (including guarantees to subsidiaries) is CNY 14,800 million, accounting for 19.66% of the company's net assets[65]. - The total amount of guarantees provided to shareholders, actual controllers, and their related parties is CNY 0[65]. - The total amount of guarantees provided during the reporting period (excluding guarantees to subsidiaries) is CNY 0[65]. Assets and Liabilities - Total current assets increased to ¥3,066,496,236.75 as of June 30, 2021, up from ¥2,760,124,884.44 at the end of 2020, representing an increase of approximately 11.1%[78]. - Total liabilities increased to ¥4,167,037,223.53 as of June 30, 2021, from ¥3,848,708,553.86 at the end of 2020, marking an increase of approximately 8.3%[79]. - The company’s total equity decreased to ¥1,042,773,223.29 from ¥1,100,906,992.89, a decline of approximately 5.3%[79]. Research and Development - Research and development expenses for the first half of 2021 were CNY 17,402,622.65, a decrease of 12.0% from CNY 19,777,178.19 in the first half of 2020[83]. Accounting and Financial Reporting - The company adheres to the accounting standards, ensuring that financial statements accurately reflect its financial position and performance[107]. - The accounting period for the company runs from January 1 to December 31 each year[108]. - The company uses the Chinese Yuan (RMB) as its functional currency for accounting purposes[110]. - The company includes all subsidiaries in its consolidated financial statements, ensuring uniform accounting policies across entities[112]. Legal Matters - The company reported a significant legal dispute involving its subsidiary, Shandong Kaima Automobile Manufacturing Co., Ltd., which is currently in execution proceedings[52]. - The company has ongoing litigation with China Construction Bank regarding a guarantee contract, with the first instance court ruling against the company's claims[52].

Financial Performance - Operating revenue rose by 34.72% to CNY 1,023,694,247.79 year-on-year, driven by increased production and sales[10] - Net profit attributable to shareholders was CNY -21,991,879.92, showing a slight increase in loss compared to CNY -21,890,246.79 in the same period last year[7] - The company reported a significant increase in other income by 33.86% to CNY 15,629,265.95, mainly from automotive industry subsidies[10] - Total revenue for Q1 2021 reached ¥1,023,694,247.79, an increase of 34.6% compared to ¥759,868,969.66 in Q1 2020[24] - Net loss for Q1 2021 was ¥24,471,118.80, an improvement from a net loss of ¥29,592,304.76 in Q1 2020[26] - The net profit for Q1 2021 was CNY 30,972,202.72, a decrease of 2.2% from CNY 31,676,392.65 in Q1 2020[28] - The total profit for Q1 2021 was CNY 30,972,202.72, slightly down from CNY 31,676,392.65 in the same period last year[28] Assets and Liabilities - Total assets increased by 4.30% to CNY 5,162,531,956.68 compared to the end of the previous year[7] - The company's current assets totaled CNY 3,010,895,920.12, up from CNY 2,760,124,884.44 at the end of 2020, reflecting a growth of approximately 9.1%[17] - The total liabilities of the company were CNY 4,099,031,031.77, compared to CNY 3,848,708,553.86 at the end of 2020, indicating an increase of about 6.5%[19] - The company's short-term borrowings rose to CNY 463,380,547.22 from CNY 397,444,910.42, an increase of approximately 16.6%[19] - Long-term borrowings increased by 101.21% to CNY 19,960,000.00, reflecting new bank loans taken during the period[10] - Contract liabilities rose by 32.91% to CNY 153,479,009.78, indicating an increase in received contract prepayments[10] Cash Flow - Cash flow from operating activities was CNY -132,729,440.23, a significant decline compared to CNY -51,482,729.75 in the previous year[10] - The net cash flow from operating activities in Q1 2021 was -CNY 132,729,440.23, worsening from -CNY 51,482,729.75 in Q1 2020[31] - Cash and cash equivalents decreased to CNY 698,152,033.77 from CNY 817,418,980.03, a decline of about 14.6%[17] - Cash and cash equivalents at the end of Q1 2021 were CNY 104,436,314.66, down from CNY 208,255,018.04 at the end of Q1 2020[32] - The company raised CNY 208,000,000.00 in borrowings in Q1 2021, compared to CNY 80,000,000.00 in Q1 2020, marking a 160.0% increase[31] - The company reported a cash outflow of CNY 310,566,564.68 from financing activities in Q1 2021, compared to CNY 260,871,252.92 in Q1 2020[32] Shareholder Information - The number of shareholders reached 25,454, with the top shareholder holding 29.83% of the shares[9] - The company has a total equity of CNY 1,063,500,924.91, down from CNY 1,100,906,992.89 at the end of 2020[19] - The company’s total equity increased to ¥557,787,135.01 as of March 31, 2021, from ¥526,814,932.29 at the end of 2020[23] Research and Development - Development expenditures increased by 183.19% to CNY 19,867,904.58, primarily due to new product R&D investments[10] - Research and development expenses for Q1 2021 were ¥8,876,716.31, compared to ¥8,082,024.94 in Q1 2020, indicating a focus on innovation[25] Legal Matters - The company is currently involved in legal disputes regarding unpaid amounts totaling CNY 57,047,000 (including interest and fees) from various parties[12][13] Inventory - The company reported a significant increase in inventory, which rose to CNY 730,895,194.83 from CNY 621,595,466.70, reflecting a growth of approximately 17.6%[17]

Financial Performance - The company's operating revenue for 2020 was CNY 3,975,263,381.79, representing a 14.54% increase compared to CNY 3,470,534,715.51 in 2019[20] - The net profit attributable to shareholders for 2020 was CNY 16,309,650.82, a decrease of 47.04% from CNY 30,794,163.22 in 2019[20] - The net cash flow from operating activities was CNY 13,975,955.56, down 89.14% from CNY 128,748,609.20 in 2019[20] - The basic earnings per share for 2020 was CNY 0.03, a decline of 46.99% from CNY 0.05 in 2019[20] - The weighted average return on equity decreased to 2.10% in 2020 from 4.08% in 2019, a drop of 1.98 percentage points[20] - The total assets at the end of 2020 were CNY 4,949,615,546.75, a decrease of 2.52% from CNY 5,077,490,999.27 at the end of 2019[20] - The company's net assets attributable to shareholders increased by 2.17% to CNY 786,360,141.65 at the end of 2020 from CNY 769,628,112.58 at the end of 2019[20] - The company reported a net profit of CNY -116,724,759.45 after deducting non-recurring gains and losses, compared to CNY -71,225,051.06 in 2019[20] - The company reported a total profit for 2020 of ¥44,301,376.40, down 48.1% from ¥85,487,673.31 in 2019[153] - The company reported a net loss of CNY 417,487,495.64 in the retained earnings section, indicating challenges in profitability[170] Revenue and Sales - In 2020, the company sold 62,900 trucks, an increase of 17.71% compared to 2019, while sales of various internal combustion engines reached 227,000 units, a decrease of 3.44%[29] - The company's revenue for 2020 was CNY 3.975 billion, representing a growth of 14.54% year-on-year, while the total profit was CNY 44.3 million, a decrease of 48.18% compared to 2019[36] - The total sales volume for light trucks was 34,202 units, representing a year-on-year increase of 27.27%[55] - The total sales volume for micro trucks was 27,229 units, with a year-on-year increase of 11.01%[55] Cash Flow and Investments - The company achieved a net cash flow from operating activities of CNY 13.98 million, a significant decrease of 89.14% compared to the previous year, primarily due to increased cash payments for goods purchased[38] - The company’s investment activities generated a net cash outflow of CNY 25.95 million, a decrease in outflow compared to the previous year, indicating improved capital management[38] - The company’s financing activities resulted in a net cash inflow of CNY 82.55 million, primarily due to increased financing lease borrowings[38] - The company reported a net increase in cash and cash equivalents of ¥70.56 million, contrasting with a decrease of ¥56.57 million in the previous year[160] Research and Development - Research and development expenses increased by 23.72% to CNY 46.6 million, reflecting the company's focus on product development and optimization[37] - Research and development investment totaled CNY 94,547,387.40, accounting for 2.38% of total operating revenue, with a year-on-year growth of 15.22%[47] - The company is focusing on new product development and technological advancements to drive future growth[109] Market and Strategic Focus - The company implemented innovative marketing strategies and expanded its market presence, particularly in military equipment sales, which became a new growth point[31] - The company plans to focus on optimizing product structure and enhancing product R&D in 2021[66] - The company aims to improve operational quality and enhance risk management mechanisms[66] - The company faces significant market risks due to stringent emission standards and the ongoing impact of the COVID-19 pandemic[68] Shareholder and Governance - The company will not distribute cash dividends or implement capital reserve transfers to increase share capital for the year 2020 due to a net loss[5] - The company has not proposed any cash profit distribution plan for the fiscal year 2020 due to the negative retained earnings[74] - The company has a controlling shareholder, China Hengtian Group Co., Ltd., which holds a 31.6% voting power in the company[176] - The company treats all shareholders equally and ensures their rights are fully exercised[120] Financial Position and Assets - Cash and cash equivalents at the end of the period amounted to CNY 817,418,980.03, an increase of 9.65% from the previous period[50] - The company reduced its inventory by 15.08% to CNY 621,595,466.70 compared to the previous period[50] - The total amount of accounts receivable was CNY 854,828,464.71, showing a decrease of 2.24% from the previous period[50] - The total current assets as of December 31, 2020, were ¥2,760,124,884.44, down from ¥2,850,777,147.45 in 2019, a decrease of about 3.2%[145] Internal Controls and Compliance - The internal control evaluation report was disclosed on April 9, 2021, indicating the company's commitment to maintaining robust internal controls[129] - The company has not reported any significant deficiencies in internal controls during the reporting period, reflecting effective governance practices[129] - The company has implemented a strict insider information management system to prevent leaks and ensure confidentiality among directors, supervisors, and senior management[126] Social Responsibility - The company actively participated in poverty alleviation efforts, including supporting local agricultural products in Pinglu County, Shanxi Province[86] - The company donated 300,000 yuan to support COVID-19 prevention efforts and contributed an additional 265,000 yuan to local governments[90] - The company emphasizes energy conservation and has implemented advanced technologies to reduce resource consumption and improve efficiency[91] Management and Compensation - The total compensation for the Chairman, Li Yanzhang, is 836,000 CNY for the reporting period[108] - The total compensation for the General Manager, Fan Hongfei, is also 836,000 CNY for the reporting period[108] - The total remuneration for all directors, supervisors, and senior management during the reporting period amounted to 8.7073 million yuan[112] Legal and Regulatory Matters - The company has ongoing litigation involving its subsidiary, Shandong Kaima Automobile Manufacturing Co., Ltd., related to a bill of exchange dispute[78] - The company is currently appealing a court decision that dismissed its claims against China Construction Bank regarding a guarantee contract dispute[78] - There were no penalties imposed by securities regulatory authorities in the past three years[114]