常柴股份有限公司投资者关系活动记录表 编号：2023-001 | | 问题 年 月以来，投资苏常柴的股东，伤痕累 16：2016 10 | | --- | --- | | | 累，公司市值没达到过 亿，作为董事长的你，有什么 50 | | | 感受？ | | | 投资者您好，二级市场股价受多种因素影响，公司秉持以 | | | 做好业绩回馈投资者的理念，提升公司的内在价值，始终 | | | 关心全体股东利益，尤其是中小投资者利益。谢谢！ | | | 问题 17：公司未来的业绩增长点在哪里？ | | | 投资者您好，公司对于现有产品和市场坚持做精做细做 | | | 强，同时与产业链上下游开展多种形式的合作。谢谢！ | | | 问题 18：10 年前公司的营业收入接近 亿，现在基本在 30 | | | 22 亿左右徘徊。只就说明农机发展遇到瓶颈了，公司为 | | | 什么不趁现在公司还有能力时进行多元化投资呢，为什么 | | | 还一直坚守农机，难道要坚守到公司退市吗？ | | | 投资者您好，感谢您的建议！ | | | 问题 19：请问公司在氢能源上有哪些探索？ | | | 投资者您好，公司时刻关注市场动向，保持 ...

Financial Performance - The company's operating revenue for 2022 was ¥2,182,043,095.61, a decrease of 11.03% compared to ¥2,452,430,515.60 in 2021[27] - The net profit attributable to shareholders for 2022 was ¥76,684,796.91, down 25.55% from ¥103,006,232.54 in 2021[27] - The basic earnings per share for 2022 was ¥0.1087, reflecting a decline of 34.40% from ¥0.1657 in 2021[27] - The net cash flow from operating activities for 2022 was ¥364,930,277.84, a significant improvement from a negative cash flow of ¥266,323,779.30 in 2021[27] - The company reported a net profit excluding non-recurring gains and losses of -¥73,636,511.02 for 2022, compared to a profit of ¥5,329,092.87 in 2021[27] - The weighted average return on equity for 2022 was 2.51%, down from 3.86% in 2021[27] - The company achieved a gross margin of 10.32% in the internal combustion engine sector, down 4.33% year-on-year[54] - The company reported a significant loss in net profit across several subsidiaries, indicating challenges in operational performance[94] Assets and Liabilities - The total assets at the end of 2022 amounted to ¥5,219,359,853.42, representing a 7.39% increase from ¥4,860,382,961.26 at the end of 2021[27] - The net assets attributable to shareholders increased by 6.73% to ¥3,284,710,665.90 at the end of 2022, compared to ¥3,077,550,018.33 at the end of 2021[27] - The company reported a total of 168,412,297 new shares issued in the non-public offering approved by the China Securities Regulatory Commission[86] - The company’s total liabilities were reported at RMB 492 million[82] Sales and Market Performance - In 2022, the total sales of internal combustion engines reached 43.15 million units, a decrease of 14.51% compared to 2021[40] - The total sales of diesel engines amounted to 4.29 million units, down 29.82% year-on-year, with agricultural machinery accounting for 1.22 million units sold, a decline of 22.87%[41] - Domestic sales accounted for 85.14% of total revenue, amounting to CNY 1.858 billion, while international sales were CNY 324.2 million, representing a decline of 21.71%[52] - The company reported a projected sales revenue of 2.2 billion yuan for 2023, with an expected export revenue of 52 million USD[98] Research and Development - Research and development expenses amounted to ¥81,239,597.06, a decrease of 1.40% compared to the previous year[61] - R&D investment accounted for 3.72% of operating revenue, an increase from 3.36% in the previous year[64] - The company is developing a series of new diesel engines to meet non-road national IV emission standards, enhancing market competitiveness[63] - The company is also focusing on developing high-efficiency, environmentally friendly hybrid diesel products to improve energy efficiency and reliability[64] - The company has received 23 patent authorizations during the reporting period, with a total of 159 valid patents, including 13 invention patents by the end of 2022[47] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of ¥0.10 per 10 shares, totaling approximately ¥70,569,250.70 based on 705,692,507 shares[6] - The company reported a cash dividend of 0.10 yuan per 10 shares, totaling 7,056,925.07 yuan, which represents 100% of the total profit distribution[134] - The company has committed to distributing cash dividends of no less than 10% of the annual distributable profit, with a cumulative distribution over any three consecutive fiscal years not less than 30% of the average annual distributable profit for those three years[149] Strategic Initiatives and Future Outlook - The company anticipates challenges due to the transition to National IV emission standards, which may impact market demand and competition[39] - The company is focusing on developing high-end products with smart, connected features, leveraging advanced technologies like big data and artificial intelligence[97] - The company plans to explore new energy fields, including lithium batteries and hydrogen fuel, in response to the dual carbon strategy[98] - The company is committed to diversifying its product offerings and expanding into new markets, including generator sets and cold chain logistics[97] Governance and Management - The company maintains an independent operational capability in terms of assets, personnel, finance, organization, and business from its controlling shareholder, Changzhou Investment Group Co., Ltd.[109] - The company has established a dedicated financial department with an independent accounting system and financial management practices, ensuring no interference from the controlling shareholder in financial activities[109] - The company has a complete and independent corporate governance structure, with a well-functioning organizational system tailored to its operational needs[109] - The company has established a training program aimed at enhancing employee skills and fostering a high-quality talent pool[131] Compliance and Risk Management - The company has not faced any administrative penalties related to environmental issues during the reporting period[144] - The internal control audit report was disclosed on April 10, 2023, with a standard unqualified opinion[140] - The company has not reported any major issues in the governance self-inspection action[141] - The company has committed to transparency in the management of raised funds, adhering to regulatory requirements[86] Market Challenges and Risks - The company anticipates market risks due to subsidy policy changes and supply chain constraints, which may impact overall market demand[99] - The company is addressing foreign trade risks by strengthening management of overseas markets and developing new high-value products[101]

一、业绩说明会安排 证券代码：000570、200570 证券简称：苏常柴A、苏常柴B 公告编号：2023-014 常柴股份有限公司 关于召开 2022 年年度报告业绩说明会的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 常柴股份有限公司（以下简称"公司"）2022 年年度报告于 2023 年 4 月 12 日在《证券时报》《大公报》、巨潮资讯网等媒体披露，为 加强投资者关系管理，便于广大投资者更深入、全面了解公司 2022 年年度报告和经营情况，公司定于 2023 年 4 月 20 日（星期四）举办 2022 年年度报告业绩说明会。本次业绩说明会将通过"全景网"平 台采用网络远程方式举行。具体情况如下： 公司将在 2022 年度业绩说明会上对投资者普遍关注的问题进行 回答。欢迎广大投资者积极参与本次网上业绩说明会。 常柴股份有限公司 董事会 2023 年 4 月 12 日 1、召开时间：2023 年 4 月 20 日（星期四）15:00-16:00 2、参会人员：公司董事长史新昆先生、总会计师蒋鹤先生、独立 董事张燕女士、董事会秘书何建江先生。 3、 ...

Financial Performance - The company's operating revenue for 2021 was CNY 2,452,430,515.60, representing a 6.79% increase compared to CNY 2,296,464,711.24 in 2020[24]. - The net profit attributable to shareholders for 2021 was CNY 103,006,232.54, a significant increase of 96.46% from CNY 52,432,443.05 in 2020[24]. - Basic earnings per share for 2021 rose to CNY 0.1657, reflecting a 77.41% increase from CNY 0.0934 in 2020[24]. - The total assets at the end of 2021 amounted to CNY 4,860,382,961.26, which is a 22.96% increase from CNY 3,952,954,464.45 at the end of 2020[24]. - The net assets attributable to shareholders increased by 35.38% to CNY 3,077,550,018.33 at the end of 2021, compared to CNY 2,273,349,347.02 at the end of 2020[24]. - The cash flow from operating activities showed a negative net amount of CNY -266,323,779.30 in 2021, contrasting with a positive CNY 251,796,654.53 in 2020[24]. - The weighted average return on equity for 2021 was 3.86%, up from 2.40% in 2020[24]. - The company reported a decrease of 79.09% in net profit after deducting non-recurring gains and losses, amounting to CNY 5,329,092.87 in 2021 compared to CNY 25,483,147.57 in 2020[24]. Sales and Market Performance - The total sales volume of internal combustion engines in 2021 was 50.47 million units, representing a year-over-year growth of 7.82%[35]. - Diesel engine sales totaled 6.11 million units in 2021, a decline of 3.67% compared to the previous year, while gasoline engine sales increased by 9.67% to 44.35 million units[35]. - The company has experienced a significant increase in sales for agricultural machinery and generator sets, with growth rates around 30% in 2021[36]. - The company sold a total of 749,300 diesel and gasoline engines in 2021, generating a revenue of 2.452 billion yuan, representing a year-on-year growth of 6.79%[46]. - Domestic sales accounted for ¥2,038,317,678.97, or 83.11% of total revenue, with a growth of 6.00% year-on-year[51]. Research and Development - The company is committed to R&D driven by market demand, ensuring that new products align with customer needs and technological advancements[38]. - The company has a stable and efficient R&D team, with a strong talent cultivation mechanism supporting ongoing innovation[41]. - Research and development expenses increased by 14.02% to ¥82,390,284.14, reflecting the company's commitment to innovation[59]. - The company’s R&D personnel increased to 264 in 2021, a growth of 4.35% compared to 253 in 2020, with R&D personnel accounting for 9.55% of the total workforce[62]. - The company is developing several new products, including a high-performance diesel generator and a hybrid power product, to meet market demands and regulatory requirements[60]. Investment and Financing - The company successfully raised funds through a private placement, with the total operating revenue for 2021 reaching ¥2,452,430,515.60, a year-on-year increase of 6.79%[50]. - The company raised ¥634,999,936.40 through a private placement of 144,318,181 shares, resulting in a net cash inflow of ¥620,665,733.97 from financing activities[65]. - The total amount raised from the non-public offering was RMB 634,999,996.40, with a net amount of RMB 620,665,733.97 after deducting issuance costs[82]. - The company has committed to invest a total of 547.6 million yuan in the lightweight engine project, with 241.0 million yuan already invested, achieving 44.02% of the planned investment by the end of the reporting period[83]. Corporate Governance - The company has established a complete set of internal control systems covering financial asset control, human resource management, quality environment management, and internal audit supervision[103]. - The company maintains independence from its controlling shareholder, with clear asset definitions and no unauthorized use of funds or resources[104]. - The company has a structured governance framework with independent directors overseeing its operations[110]. - The company has continuously improved its governance structure in compliance with relevant laws and regulations, enhancing operational standards and protecting shareholder rights[103]. - The company is focused on maintaining transparency in its remuneration practices and governance structure[115]. Future Outlook and Strategy - The company aims to achieve a sales revenue of 2.3 billion yuan in 2022, with a focus on ensuring the launch of 10,000 new products[91]. - The company is actively developing new energy projects, including lithium battery separator projects, to enhance its market position[97]. - The company is exploring strategic partnerships and investments in the agricultural machinery supply chain to enhance its market position[96]. - The company is committed to exploring new energy sectors, including lithium batteries and hydrogen fuel, to adapt to market changes[90]. - The company is focused on expanding its presence in the new energy sector, indicating a strategic shift towards sustainable technologies[104]. Risk Management - The company is facing risks from raw material price fluctuations and is implementing measures to enhance inventory and cost management[92]. - The company is actively responding to foreign trade risks by implementing a dual-brand strategy and enhancing management of overseas markets[92]. - The company is addressing market risks due to low grain prices and changing user demand, which has shifted from rigid demand to stock updates[91]. - The company has reported on the impact of climate change on its operations, emphasizing the need for sustainable practices[96]. Shareholder Information - The company has reported an increase in shareholder numbers, indicating growing investor interest[97]. - The company plans to increase its dividend payout ratio to 30% in the next fiscal year, reflecting strong cash flow and profitability[98]. - The company has a cash dividend policy that allows for a distribution of 0.26 yuan per 10 shares (including tax), with a total cash dividend amounting to 18,348,005.18 yuan, representing 100% of the total profit distribution[131][133]. - The company’s shareholding structure includes 20.45% of restricted shares and 79.55% of unrestricted shares post-placement[181]. Employee and Talent Management - The company has established a training program aimed at enhancing employee skills and fostering a high-quality talent pool[129]. - The company has maintained a consistent approach to salary policies, focusing on rewarding outstanding talent and improving employee income[128]. - The company recognizes the need for high-level and skilled talent to improve operational efficiency and is enhancing training and talent management[94].

Financial Performance - The company's operating revenue for the third quarter was ¥484,183,670.58, a decrease of 17.15% compared to the same period last year[3]. - The net profit attributable to shareholders was -¥23,478,352.18, while the year-to-date net profit reached ¥105,710,713.42, an increase of 171.37% year-on-year[3][10]. - The basic earnings per share for the third quarter was -¥0.0333, while the year-to-date figure was ¥0.1734, reflecting a 149.86% increase[3]. - Total operating revenue for the current period reached ¥1,981,354,126.38, an increase from ¥1,751,860,265.23 in the previous period, representing a growth of approximately 13.1%[21]. - Net profit for the current period was ¥105,784,200.52, compared to ¥39,111,427.05 in the previous period, indicating a significant increase of approximately 170.5%[22]. - The total comprehensive income for the current period was ¥228,719,480.33, compared to ¥61,844,120.72 in the previous period, indicating a significant increase of approximately 268.5%[22]. Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥4,862,324,921.69, representing a 23.00% increase from the previous year[4]. - The total assets increased to ¥4,862,324,921.69 from ¥3,952,954,464.45, reflecting a growth of about 22.9%[20]. - The total liabilities rose to ¥1,720,091,771.22 from ¥1,660,106,528.28, marking an increase of approximately 3.6%[20]. - The equity attributable to the parent company increased to ¥3,122,661,074.22 from ¥2,273,349,347.02, showing a growth of around 37.4%[20]. Cash Flow - The net cash flow from operating activities was -¥316,185,740.11 year-to-date, indicating cash outflows[3]. - The net cash flow from operating activities for the current period is -316,185,740.11 CNY, a decrease from 17,685,800.21 CNY in the previous period, attributed to market expansion and increased credit sales[11]. - The net cash flow from investing activities is -427,869,678.24 CNY, compared to -104,621,999.67 CNY in the previous period, primarily due to significant investments in construction projects and financial products[11]. - The net cash flow from financing activities is 612,388,654.75 CNY, an increase from -2,280,722.28 CNY in the previous period, resulting from the completion of a private placement of shares[11]. - Investment cash outflow totaled $465,670,151.55, significantly higher than $140,104,867.56 in the previous period, resulting in a net cash outflow from investment activities of -$427,869,678.24[25]. - Financing cash inflow was $643,390,996.40, a substantial increase from $20,000,000.00 in the previous period, leading to a net cash inflow from financing activities of $612,388,654.75[25]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 51,043, with no preferred shareholders having restored voting rights[13]. - The largest shareholder, Changzhou Investment Group Co., Ltd., holds 32.26% of the shares, amounting to 227,663,417 shares[13]. - The company completed a private placement of 144,318,181 shares at a price of 4.40 CNY per share, raising a total of 634,999,936.40 CNY, with a net amount of 622,499,996.40 CNY[16]. Accounts Receivable and Expenses - The company's accounts receivable increased by 160.19% to ¥1,033,370,187.93, primarily due to market expansion and longer payment terms with major clients[8]. - Research and development expenses amounted to ¥55,986,252.72, compared to ¥49,447,182.62 in the previous period, reflecting an increase of about 13.1%[21]. - Cash paid for purchasing goods and services rose to $1,610,525,132.37, compared to $1,284,823,979.81 in the previous period, indicating a significant increase[24]. - Cash paid to employees was $253,758,615.93, up from $220,889,699.06 in the previous period, reflecting a growth of 14.9%[24]. Other Financial Metrics - The financial expenses decreased by 88.32% to ¥823,688.31, attributed to changes in exchange rates and increased interest income[9]. - The investment income rose by 57.41% to ¥8,663,940.64, driven by increased dividends from Jiangsu Bank[9]. - The company reported a significant increase in capital reserves by 289.87% to ¥640,676,218.40, due to the completion of a private placement[8]. - Deferred income tax liabilities increased to ¥124,661,259.24 from ¥80,671,598.82, representing a growth of approximately 54.5%[20]. Audit Information - The company did not undergo an audit for the third quarter report[26].

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 1,497,170,455.80, representing a 28.24% increase compared to CNY 1,167,455,782.30 in the same period last year[23]. - The net profit attributable to shareholders of the listed company reached CNY 129,189,065.60, a significant increase of 366.55% from CNY 27,690,311.06 in the previous year[23]. - The net profit after deducting non-recurring gains and losses was CNY 27,160,414.58, which is a 31.39% increase compared to CNY 20,672,139.96 in the same period last year[23]. - The basic earnings per share for the reporting period was CNY 0.2301, up 366.73% from CNY 0.0493 in the previous year[23]. - The company reported a net cash flow from operating activities of CNY -92,554,120.06, compared to CNY -20,354,729.25 in the same period last year[23]. - The company's operating revenue for the reporting period reached ¥1,497,170,455.80, representing a year-on-year increase of 28.24% compared to ¥1,167,455,782.30 in the same period last year[54]. - The company's net profit saw a significant increase, primarily due to higher sales revenue and corresponding growth in main business profits[55]. - The company reported a gross margin of 14.23% in the internal combustion engine sector, a decrease of 0.94% from the previous year[59]. - The company reported a total of CNY 810,589,691.82 in financial assets at fair value, with significant changes in fair value recognized[64]. Assets and Liabilities - Total assets at the end of the reporting period amounted to CNY 4,991,614,977.27, reflecting a 26.28% increase from CNY 3,952,954,464.45 at the end of the previous year[23]. - The total assets as of June 30, 2021, amounted to CNY 4,700,183,753.50, up from CNY 3,732,798,948.61 at the end of 2020, reflecting a growth of 25.9%[150]. - The total liabilities of the company were RMB 1,842,112,876.79, compared to RMB 1,660,106,528.28 at the end of 2020, which is an increase of approximately 10.9%[145]. - The company's total liabilities increased to CNY 1,705,237,608.06 from CNY 1,540,805,762.23, marking a rise of 10.7%[151]. - The company's inventory decreased by 4.12% to CNY 560,554,921.08, compared to CNY 606,680,340.55 in the previous period[62]. - The company's cash and cash equivalents at the end of the period amounted to CNY 213,108,704.75, with certain amounts restricted due to bank acceptance bill guarantees[65]. Research and Development - Research and development expenses increased by 39.58% to ¥45,136,853.96, driven by the need to upgrade product emission standards[54]. - The company has developed multiple series of multi-cylinder and mechanical pump single-cylinder products that meet the non-road National IV emission standards, enhancing its product offerings in the agricultural machinery sector[47]. - The company is focusing on the certification and optimization of non-road National IV engine models to adapt to market changes and enhance product offerings[77]. - Research and development expenses for the first half of 2021 were CNY 45,136,853.96, compared to CNY 32,338,250.78 in the same period of 2020, indicating a 39.5% increase[154]. Market and Sales - The company sold a total of 437,000 units of diesel and gasoline engines, achieving a revenue of 1.497 billion yuan, representing a year-on-year growth of 28.24%[46]. - In the first half of 2021, the cumulative sales of internal combustion engines reached 25.0694 million units, a year-on-year increase of 28.16%, with diesel engine sales at 3.6253 million units, up 22.78%[39]. - The company has successfully expanded its export market, with significant growth in self-operated exports of various diesel engines and their units[47]. - The company has established a strong market position, being the largest manufacturer of small power single-cylinder diesel engines in the national agricultural machinery industry, with a high market share in certain power segments[41]. Corporate Governance and Compliance - The company strictly adheres to legal regulations and governance standards, ensuring the protection of shareholder rights and interests[92]. - The company has established a comprehensive governance structure, including a board of directors and various departments to support its operations[190]. - The company has no incidents of insider trading or harm to shareholder interests during the reporting period[92]. - The semi-annual financial report was not audited[100]. Investment and Financing - The total investment during the reporting period was CNY 189,850,000.00, representing a significant increase of 442.43% compared to CNY 35,000,000.00 in the same period last year[66]. - The company raised CNY 634,999,996.40 from investment activities in the first half of 2021, compared to no such income in the same period of 2020, highlighting successful fundraising efforts[164]. - The company plans to issue non-public shares, which has been approved by the controlling shareholder[120]. - The company received approval from the China Securities Regulatory Commission for a non-public offering of up to 168,412,297 shares, with 144,318,181 shares issued at a price of 4.40 RMB per share, raising a total of 634,999,936.40 RMB[121]. Social Responsibility - The company is committed to enhancing product quality and consumer satisfaction, establishing long-term cooperative relationships with suppliers and customers[92]. - The company has engaged in public welfare activities, including donations to support disadvantaged youth and rural revitalization efforts[92]. - The company maintains a commitment to social responsibility, actively participating in community development initiatives[92]. Risks and Challenges - The company has identified risks related to raw material price fluctuations and is implementing measures to improve inventory and cost management[80]. - The company is actively managing foreign trade risks by strengthening relationships with key overseas markets and customers[81]. - The company plans to continue expanding its market presence and investing in new technologies[179].

Financial Performance - Operating revenue for the reporting period was CNY 432,605,495.58, down 21.55% year-on-year[6] - Net profit attributable to shareholders was CNY 4,670,842.38, an increase of 52.03% compared to the same period last year[6] - The net profit after deducting non-recurring gains and losses was CNY -5,982,192.17, reflecting a decrease of 47.29% year-on-year[6] - The basic earnings per share decreased by 50.00% to CNY 0.01[6] - Net profit for the first three quarters of 2018 was CNY 23,643,295.60, a decrease of 45.40% compared to CNY 43,305,505.88 in the same period last year[15] - Investment income decreased by 39.93% to CNY 8,053,269.86 from CNY 13,407,484.45, primarily due to reduced dividends from Foton Motor[15] - Other comprehensive income showed a significant decline, with a net loss of CNY 144,235,225.00 compared to a loss of CNY 41,677,200.00 in the previous year[15] - Financial expenses increased due to exchange rate fluctuations, resulting in a loss of CNY 4,311,945.83 compared to a loss of CNY 1,287,876.55 in the previous period[15] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 3,756,252,247.55, an increase of 0.90% compared to the end of the previous year[6] - Net assets attributable to shareholders decreased by 6.13% to CNY 2,109,129,803.12[6] - Accounts receivable increased by 33.98% to CNY 1,485,050,866.65 due to extended credit terms to customers[14] - Other receivables surged by 267.00% to CNY 21,267,589.07, primarily due to loans from a subsidiary[14] Cash Flow - Cash flow from operating activities showed a net outflow of CNY -54,251,797.59[6] - Cash flow from investment activities was negative CNY 23,421,616.03, an improvement from negative CNY 63,559,009.38 in the previous period[17] - The company received tax refunds of CNY 39,981,450.76, a 62.40% increase from CNY 24,619,585.42, mainly due to higher export tax rebates[17] Shareholder Information - The company’s major shareholder, the State-owned Assets Supervision and Administration Commission of the People's Government of Changzhou, is transferring 170,845,236 shares to Changzhou Investment Group, which has been approved by relevant authorities[18] - The company has committed to distributing at least 10% of its distributable profits in cash annually, contingent on positive net profits and sufficient cash flow[21] Non-Operating Income - The company reported a significant decrease in non-operating income, down 89.07% to CNY 2,830,716.11 from CNY 25,903,268.01, due to last year's acquisition-related gains[15] - The company has no significant overdue commitments or non-operating fund occupation by major shareholders during the reporting period[28]

Financial Performance - The company's operating revenue for the first half of 2018 was ¥1,186,760,892.26, a decrease of 9.28% compared to ¥1,308,106,180.92 in the same period last year[18]. - The net profit attributable to shareholders was ¥18,638,557.66, down 53.03% from ¥39,679,158.13 in the previous year[18]. - The basic earnings per share dropped by 57.14% to ¥0.03 from ¥0.07 in the previous year[18]. - The weighted average return on net assets decreased to 0.86% from 1.71% in the previous year[18]. - In the first half of 2018, the company sold 315,500 diesel engines and 68,600 gasoline engines, achieving a total revenue of 1.187 billion yuan, with a net profit of 18.91 million yuan, representing a year-on-year decline of 52.79%[33]. - The company's revenue from the internal combustion engine sector was 1.170 billion yuan, down 9.84% year-on-year, while the gross margin improved slightly to 12.74%[38]. - The company reported a decline in sales of its main product, single-cylinder engines, due to market adjustments, necessitating a focus on smart and IoT products[51]. - The company reported a comprehensive income total of CNY -107,290,316.08, compared to CNY -1,584,513.13 in the previous year[114]. - The company reported a significant decrease in sales revenue, with cash received from sales of goods and services at 978,362,086.38 CNY, down 23.9% from 1,287,943,005.80 CNY[121]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at -¥5,608,853.15, compared to a positive cash flow of ¥64,379,323.31 in the same period last year[18]. - The company reported a 37.09% decrease in cash and cash equivalents, totaling 445.86 million yuan, primarily due to increased credit sales and reduced cash inflow from decreased revenue[40]. - The company reported a cash balance of approximately ¥445.86 million at the end of the reporting period, an increase from ¥430.31 million at the beginning of the period, reflecting a growth of about 3.6%[104]. - The net cash flow from operating activities was 11,291,482.86 CNY, a decrease of 85.5% compared to 77,827,840.99 CNY in the previous period[121]. - Cash outflow for purchasing goods and services was 801,461,497.18 CNY, a decrease of 20.8% from 1,012,243,538.73 CNY in the previous period[121]. - The total cash flow from financing activities resulted in a net outflow of -7,733,682.52 CNY, compared to -16,841,229.78 CNY in the previous period[122]. Assets and Liabilities - The total assets at the end of the reporting period were ¥3,694,504,040.78, a decrease of 0.76% from ¥3,722,905,285.05 at the end of the previous year[18]. - The total liabilities rose from CNY 1,456,535,270.88 to CNY 1,552,265,572.47, reflecting an increase of approximately 6.56%[106]. - The company's total liabilities to equity ratio increased from 0.64 to 0.72, indicating a higher leverage[106]. - The total restricted assets at the end of the reporting period amounted to 194,478,492.85, primarily due to bank acceptance bill guarantees and mortgage on bank loans[44]. - The company reported a total guarantee amount of 2,000,000 CNY, which is 0.94% of the company's net assets[74]. Shareholder and Equity Information - The total number of shares remains unchanged at 561,374,326, with no new shares issued or transferred[85]. - The company’s major shareholder, Changzhou Municipal Government, holds 30.43% of the shares, totaling 170,845,236 shares[87]. - The company will not distribute cash dividends or issue bonus shares for the half-year period[55]. - The company has committed to distributing at least 10% of its distributable profits as cash dividends annually, contingent on positive net profits and sufficient cash flow[56]. - The total owner's equity decreased by 127,563,560 during the current period[132]. Operational and Market Conditions - Accounts receivable increased by 106.49% to ¥809,459,781.25, primarily due to market expansion and longer payment terms for multi-cylinder engine customers[27]. - Inventory decreased by 20.02% to ¥406,509,269.60, as the company adjusted production schedules in response to market conditions[27]. - The company aims to improve quality control, safety, environmental governance, and cost reduction in the second half of the year to meet annual targets[34]. - The company faces procurement risks due to rising costs and supplier instability, with measures in place to monitor supplier dynamics closely[51]. - Quality risks are heightened with the transition to Euro III controlled diesel engines, prompting a commitment to strengthen quality management systems[52]. Legal and Compliance Matters - The company is involved in a lawsuit regarding unpaid debts amounting to 1,436,000 CNY, with the case currently in the bankruptcy proceedings stage[60]. - There were no penalties or rectifications reported during the reporting period[61]. - The company did not implement any stock incentive plans or employee shareholding plans during the reporting period[62]. - No significant related party transactions occurred during the reporting period[63][64][65][66][67]. Research and Development - Research and development expenses were 34.07 million yuan, a slight decrease of 0.82% compared to the previous year, reflecting ongoing investment in innovation[36]. - The company has initiated the "National VI" project for the 4G33V16 diesel engine, with design and theoretical calculations currently in progress[33]. Accounting and Financial Reporting - The financial report for the first half of 2018 has not been audited[102]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that the financial statements reflect its financial status accurately[147]. - The company recognizes revenue from service transactions based on the percentage of completion method when the outcome can be reliably estimated[198].

Revenue and Profit - Revenue for Q1 2018 was CNY 593,008,785.46, a decrease of 18.00% compared to CNY 723,164,530.66 in the same period last year[8] - Net profit attributable to shareholders was CNY 11,343,577.44, down 67.58% from CNY 34,991,536.70 year-on-year[8] - Basic earnings per share decreased by 66.67% to CNY 0.02 from CNY 0.06 in the previous year[8] - Total operating revenue for Q1 2018 was CNY 593,008,785.46, a decrease of 17.9% compared to CNY 723,164,530.66 in the same period last year[34] - Net profit for Q1 2018 was CNY 11,538,909.18, a decline of 67.3% from CNY 35,266,070.03 in Q1 2017[34] - Other comprehensive income after tax for Q1 2018 was CNY -36,596,325.00, compared to CNY 34,093,500.00 in Q1 2017[35] - The total comprehensive income for Q1 2018 was CNY -25,057,415.82, a significant drop from CNY 69,359,570.03 in the previous year[35] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,703,879,135.15, a slight decrease of 0.51% from CNY 3,722,905,285.05 at the end of the previous year[8] - The company's current assets totaled CNY 2,172,910,487.65, an increase from CNY 2,113,083,637.35 at the beginning of the period, primarily driven by an increase in accounts receivable[27] - Total liabilities stood at CNY 1,462,566,536.80, slightly up from CNY 1,456,535,270.88, indicating a marginal increase[29] - The company's equity attributable to shareholders decreased to CNY 2,221,644,110.30 from CNY 2,246,896,857.86, a decrease of approximately 1.1%[29] - The company's total liabilities amounted to CNY 1,327,298,332.35, slightly up from CNY 1,321,770,980.08 in the previous year[33] - Total equity decreased to CNY 2,163,293,394.76 from CNY 2,189,467,428.92 year-over-year[33] Cash Flow - Operating cash flow net amount decreased by CNY 20,660,209.93 compared to the previous year, mainly due to increased accounts receivable[16] - Operating cash inflow for the current period was ¥461,067,596.87, down 21.1% from ¥584,480,475.54 in the previous period[40] - Net cash outflow from operating activities was ¥73,259,277.76, compared to a net outflow of ¥52,599,067.83 in the previous period[40] - Total cash outflow from operating activities was ¥534,326,874.63, down 16.2% from ¥637,079,543.37 in the previous period[40] - Cash inflow from sales of goods and services was ¥439,612,228.47, a decrease of 21.5% from ¥559,720,974.26 in the previous period[40] - Cash paid for purchasing goods and services was ¥406,939,946.87, down 18.5% from ¥499,393,990.54 in the previous period[40] - Cash paid to employees was ¥92,450,068.47, a decrease of 5.6% from ¥98,279,534.01 in the previous period[40] Accounts Receivable and Payable - Accounts receivable increased by CNY 280,595,318.57, up 71.58%, due to market expansion and longer payment terms for multi-cylinder engine products[15] - Accounts receivable rose significantly to CNY 672,606,272.12, up from CNY 392,010,953.55, representing an increase of approximately 71.7%[27] - The company reported a significant increase in accounts payable, which rose to CNY 484,086,878.29 from CNY 616,228,500.18, a decrease of about 21.4%[28] Research and Market Development - Changchai Co., Ltd. has engaged in various research and collaboration activities with foreign companies and academic institutions during the reporting period[21] - The company is actively exploring market development opportunities in Southeast Asia, indicating a strategic focus on international expansion[21] Other Financial Metrics - Total operating costs for Q1 2018 were CNY 579,389,265.96, down 17.9% from CNY 705,529,406.81 year-over-year[34] - The financial expenses for Q1 2018 were CNY 3,539,972.12, compared to a financial income of CNY -1,043,419.34 in the same period last year[34] - Management expenses decreased to CNY 31,414,153.72 from CNY 39,069,823.45 year-over-year[34] - Financial expenses decreased by CNY 4,583,391.46, attributed to changes in exchange rate impacts[15]