Financial Performance - The company's operating revenue for 2020 was ¥1,375,093,247.26, a decrease of 70.69% compared to ¥4,690,972,421.39 in 2019[24] - The net profit attributable to shareholders for 2020 was -¥1,335,103,939.22, compared to a profit of ¥85,196,161.58 in 2019[24] - The net cash flow from operating activities was ¥109,801,645.26 in 2020, an improvement from -¥58,263,765.98 in 2019[24] - The total assets at the end of 2020 were ¥9,208,333,394.09, down 14.17% from ¥10,728,940,333.67 at the end of 2019[24] - The net assets attributable to shareholders decreased by 27.15% to ¥3,584,505,461.93 at the end of 2020 from ¥4,920,708,741.72 at the end of 2019[24] - The basic earnings per share for 2020 was -¥0.8118, compared to ¥0.0518 in 2019[24] - The weighted average return on equity was -31.39% in 2020, down from 1.75% in 2019[24] - The company reported a significant decline in revenue and profit, indicating ongoing financial challenges[24] Revenue Breakdown - In 2020, the company reported a total revenue of approximately ¥1.37 billion, with quarterly revenues of ¥201.97 million, ¥422.16 million, ¥313.98 million, and ¥436.98 million respectively[30] - The automotive manufacturing segment generated revenue of approximately ¥1.106 billion, accounting for 80.40% of total revenue, down 74.08% from ¥4.266 billion in 2019[61] - Vehicle sales revenue was CNY 518,899,039.97, down 87.02% compared to the previous year[65] - Parts sales revenue increased by 119.21% to CNY 586,617,270.30, with a gross margin of 22.64%[65] - Revenue from the South China region reached CNY 799,519,053.69, representing 58.14% of total revenue and a year-over-year increase of 50.75%[65] Sales and Production - The company produced a total of 16,980 vehicles in 2020, a year-on-year decrease of 41.22% from 28,889 vehicles in the previous year[56] - The sales volume for the company was 17,773 vehicles, down 39.66% from 29,456 vehicles in 2019[56] - The company achieved a significant increase in sales volume, with over 7,000 units sold, representing a year-on-year growth of over 70%[49] - The company successfully exported over 6,000 units in 2020, ranking among the top ten Chinese automotive brands in terms of passenger vehicle exports[55] Research and Development - Research and development expenses amounted to CNY 266,188,696.76, a 31.09% increase from the previous year[75] - The number of R&D personnel decreased by 47.90% to 534, while R&D investment as a percentage of revenue rose to 17.10%[78] - The company is focusing on the development of plug-in hybrid and smart vehicle technologies, aiming to enhance its competitive advantage in niche markets[39] - The company completed the first round of design for its electronic and electrical architecture and conducted hardware and software testing[52] Cash Flow and Investments - Operating cash inflow for 2020 was ¥2,983,495,385.92, a decrease of 23.11% compared to 2019[79] - The net cash flow from investment activities was -¥337,680,682.49, compared to a positive net flow of ¥551,622,287.18 in 2019[79] - Financing cash inflow increased by 4.70% to ¥678,930,964.46, while financing cash outflow surged by 138.66% to ¥749,488,343.99[79] - The net cash flow from financing activities was -¥70,557,379.53, down from a positive net flow of ¥334,447,693.39 in 2019[79] Environmental Compliance - The company reported a total wastewater discharge of 0.197902 tons of COD, 0.003463 tons of ammonia nitrogen, and 0.001307 tons of total phosphorus, all within the permissible limits[163] - The total emissions of nitrogen oxides were 1.119202 tons, with a permissible limit of 1.8114 tons, indicating compliance with environmental standards[163] - The company has invested in pollution control facilities and monitoring equipment, including COD online analyzers and ammonia nitrogen monitoring devices, ensuring real-time compliance with discharge standards[168] - The company has established an emergency response plan for environmental pollution incidents, enhancing its ability to manage and mitigate environmental risks[169] Shareholder Information - The largest shareholder, Haima (Shanghai) Investment Co., Ltd., holds 28.80% of the shares, totaling 473,600,000 shares[187] - The second largest shareholder, Haima Investment Group Co., Ltd., holds 5.66% of the shares, totaling 93,022,951 shares[187] - The total number of shareholders at the end of the reporting period is 62,544, an increase from 59,459 at the end of the previous month[187] - The actual controller of the company is Jing Zhu, who has been the chairman since 2017 and has a background in management and engineering[192] Strategic Initiatives - The company plans to focus on the development of plug-in hybrid vehicles, hydrogen fuel cell vehicles, and smart cars during the 14th Five-Year Plan period[98] - Haima aims to deepen its market presence in key regions such as the Yangtze River Delta, Pearl River Delta, and Beijing-Tianjin-Hebei[98] - The company intends to establish over 30 direct sales subsidiaries by the end of 2021 to enhance its marketing strategy[101] - The company is committed to reducing quality risks by implementing comprehensive supplier quality control measures[99] Community Engagement and Social Responsibility - The company invested a total of 255,000 CNY in poverty alleviation projects, with an additional 3.7 million CNY in consumption poverty alleviation[155] - A total of 10 individuals from registered impoverished households were assisted in finding employment, alongside 400 individuals receiving vocational training[159] - The company has established a poverty alleviation working group to oversee and coordinate efforts in the designated poverty-stricken village[154] - The company will continue to implement the rural revitalization strategy, focusing on ecological sustainability and improving living conditions[160]

海马汽车股份有限公司 2020 年第三季度报告全文 海马汽车股份有限公司 2020 年第三季度报告 （修订版） 1 海马汽车股份有限公司 2020 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连 带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人孙忠春、主管会计工作负责人覃铭及会计机构负责人(会计主管 人员)罗理想声明：保证季度报告中财务报表的真实、准确、完整。 2 海马汽车股份有限公司 2020 年第三季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 | --- | --- | --- | --- | --- | |-----------------------------------------------------|----------------------------------------------------------------|----------------------------- ...

Financial Performance - The company's operating revenue for the reporting period was ¥624,130,621.73, a decrease of 73.13% compared to ¥2,322,694,074.13 in the same period last year[23]. - The net profit attributable to shareholders of the listed company was -¥172,801,107.65, showing a slight improvement from -¥178,247,674.24 in the previous year[23]. - The net cash flow from operating activities was ¥23,021,268.84, down 96.24% from ¥612,224,222.90 in the same period last year[23]. - Total assets at the end of the reporting period were ¥10,108,104,318.14, a decrease of 5.79% from ¥10,728,940,333.67 at the end of the previous year[23]. - The net assets attributable to shareholders of the listed company were ¥4,746,900,067.91, down 3.53% from ¥4,920,708,741.72 at the end of the previous year[23]. - The basic earnings per share for the reporting period was -¥0.1051, compared to -¥0.1084 in the same period last year[23]. - The company reported a net profit attributable to shareholders of -CNY 173 million, a reduction in losses by CNY 5.45 million compared to the same period last year[41]. - Operating revenue decreased by 73.13% to CNY 624.13 million, while operating costs fell by 77.90% to CNY 521.24 million, attributed to declining vehicle sales and changes in accounting policies[44]. - The company reported a significant decrease in vehicle sales, with complete vehicle revenue down by 90.46% to ¥200,542,903.54[52]. - The company reported a total investment in securities of CNY 3,582,814.55 as of the end of the reporting period[61]. Cash Flow and Assets - Cash and cash equivalents decreased by ¥197,819,573.73, contrasting with an increase of ¥498,772,754.20 in the previous period[48]. - The company’s cash and cash equivalents at the end of the period amounted to ¥1,210,810,158.30, representing 11.98% of total assets[53]. - The company’s short-term borrowings increased by 1.76% to ¥537,917,956.13, reflecting higher loan repayments during the period[53]. - Cash flow from operating activities generated a net amount of CNY 23,021,268.84, a decrease from CNY 612,224,222.90 in the first half of 2019[193]. - The total operating cash inflow was CNY 1,375,332,031.63, down from CNY 2,262,005,879.24 in the first half of 2019[193]. - The ending balance of cash and cash equivalents was $15.88 million, compared to $17.78 million previously[200]. Operational Challenges - The company faced significant risks and challenges, which are detailed in the report[6]. - The company faces market risks due to the overall decline in the automotive industry and increased competition[71]. - The company is focusing on cost control by establishing a dynamic evaluation model for sales and parts orders to optimize costs and inventory[43]. Strategic Initiatives - The company plans to launch new products, including the Haima 6P and Haima 7X, with performance and cost metrics meeting expectations, ready for mass production[41]. - The company aims to enhance its marketing strategy by launching the Haima Automotive APP and establishing an integrated e-commerce platform to boost sales[42]. - The company is committed to technological advancements, developing six major technology platforms to support its product strategy, including modular vehicles and intelligent connectivity[36]. - The company plans to implement new marketing strategies and launch new products to enhance brand value and improve profitability[71]. Research and Development - Research and development investment decreased by 52.19% to ¥146,561,148.04 due to reduced project investments[48]. - Research and development expenses for the first half of 2020 were CNY 69,799,063.34, down from CNY 78,136,243.05 in the first half of 2019, a decrease of approximately 10.4%[183]. Environmental and Social Responsibility - The company has installed online monitoring devices for COD, ammonia nitrogen, and total phosphorus, ensuring real-time monitoring of wastewater quality[114]. - The company has established an emergency response plan for environmental pollution incidents to ensure rapid and effective handling[115]. - The company is committed to sustainable development and has implemented measures to minimize environmental pollution[114]. - The company actively participated in targeted poverty alleviation efforts in Hainan Province[117]. - The company provided 30 impoverished students with financial aid amounting to 30,000 RMB[119]. Shareholder Information - The total number of shares is 1,644,636,426, with 99.85% being unrestricted shares[131]. - The largest shareholder, Haima (Shanghai) Investment Co., holds 28.80% of shares, totaling 473,600,000 shares[135]. - The second-largest shareholder, Haima Investment Group, holds 5.66% of shares, totaling 93,022,951 shares[135]. - The total number of common shareholders at the end of the reporting period is 72,567[135]. - The company has maintained a stable shareholder structure with no reported related party transactions among the top shareholders[138].

Financial Performance - The company's operating revenue for Q1 2020 was ¥201,968,912.14, a decrease of 71.58% compared to ¥710,715,285.48 in the same period last year[7] - The net profit attributable to shareholders of the listed company was -¥99,186,354.64, worsening from -¥43,980,020.23 year-on-year[7] - The net profit for the period was -101,556,931.44 CNY, a significant decline from -47,204,727.59 CNY in the previous period[20] - The total profit for the period was -120,960,535.40 CNY, reflecting a significant loss compared to -58,730,906.91 CNY in the previous period[20] - The company recorded a total comprehensive loss of CNY -102,922,367.73 for the quarter, compared to CNY -57,039,289.01 in Q1 2019, reflecting a 80.5% increase in comprehensive losses[46] Cash Flow - The net cash flow from operating activities was -¥379,074,224.53, compared to ¥152,788,483.23 in the previous year[7] - Cash flow from operating activities showed a net outflow of ¥379,074,224.53, a decline from a net inflow of ¥152,788,483.23 in the previous year, reflecting challenges in cash generation[51] - The company reported cash inflows from investment activities of ¥984,182,976.31, contrasting with cash outflows of ¥1,329,001,610.05, resulting in a net cash outflow of ¥344,818,633.74 from investment activities[52] - The financing activities resulted in a net cash outflow of ¥17,763,235.05, a significant improvement from a net outflow of ¥105,778,130.72 in the same period last year[52] Assets and Liabilities - Total assets at the end of the reporting period were ¥10,014,872,971.56, a decrease of 6.66% from ¥10,728,940,333.67 at the end of the previous year[7] - The company's current assets totaled CNY 2,936,047,441.01, down from CNY 3,183,758,771.33, indicating a decrease of about 7.76%[34] - Total liabilities decreased to CNY 4,395,925,184.29 from CNY 5,007,070,178.67, a reduction of approximately 12.19%[36] - The company's short-term borrowings rose significantly to CNY 850,632,096.77 from CNY 470,000,000.00, an increase of about 80.93%[36] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 74,834[9] - The largest shareholder, Haima (Shanghai) Investment Co., Ltd., held 28.80% of the shares, totaling 473,600,000 shares[10] - The net assets attributable to shareholders of the listed company were ¥4,820,769,726.63, down 2.03% from ¥4,920,708,741.72 at the end of the previous year[7] Earnings Per Share - Basic and diluted earnings per share were both -¥0.0603, compared to -¥0.0267 in the same period last year[7] - The basic earnings per share for Q1 2020 was ¥0.0033, compared to a loss per share of ¥0.0021 in the same quarter last year, reflecting improved profitability[50] Operational Metrics - The company's management expenses rose by 56.90%, totaling 141,898,873.10 CNY, due to idle factory and equipment costs[20] - Research and development expenses were CNY 24,468,845.00, down 38.2% from CNY 39,526,485.67 in the previous year[44] - The company reported a significant increase in credit impairment losses of CNY 17,358,572.04 compared to a reversal of CNY 8,846,511.90 in the previous year[45] Compliance and Reporting - The company has implemented new revenue and leasing standards starting from 2020, affecting financial reporting[62] - The first quarter report for 2020 was not audited[62] - There were no violations regarding external guarantees during the reporting period[30]

Financial Performance - Operating revenue for the reporting period was ¥626,053,156.57, a decline of 43.72% year-on-year[10]. - Net profit attributable to shareholders of the listed company was -¥61,692,129.28, with a year-to-date loss of -¥234,493,236.93[10]. - The company's operating revenue decreased by 43.60% to ¥1,937,476,998.61 from ¥3,435,043,580.01 due to a decline in vehicle sales[23]. - Net profit for the period was a loss of ¥215,787,327.60, worsening from a loss of ¥148,242,965.04 in the previous period[23]. - Total operating revenue for the current period was ¥644,147,008.22, a decrease of 43.8% compared to ¥1,146,381,487.06 in the previous period[59]. - Net profit for the current period was a loss of ¥61,100,235.58, compared to a loss of ¥15,377,172.84 in the previous period, representing a significant increase in losses[62]. - The company reported a total comprehensive loss of ¥61,274,264.99 for the current period, compared to a loss of ¥14,337,426.84 in the previous period[64]. - The company reported a net loss of ¥885,645,780.73, worsening from a loss of ¥651,152,543.80 in the previous period[48]. Assets and Liabilities - Total assets at the end of the reporting period were ¥10,023,921,280.82, a decrease of 6.57% compared to the end of the previous year[10]. - The company's total liabilities decreased by 31.31% to ¥868,836,494.99 from ¥1,264,850,711.79, reflecting a decline in vehicle production[23]. - Total liabilities decreased to ¥4,520,505,183.68 from ¥5,007,070,178.67, reflecting a reduction of about 9.7%[48]. - Non-current assets totaled ¥6,881,829,959.12, down from ¥7,545,181,562.34[45]. - Current assets totaled ¥3,142,091,321.70, slightly down from ¥3,183,758,771.33[45]. - The total assets and liabilities amounted to ¥7,023,888,369.94, an increase from ¥6,565,586,514.35 in the previous period[58]. Cash Flow - The net cash flow from operating activities was -¥124,553,952.91 for the reporting period[10]. - Cash flow from operating activities showed a net outflow of ¥101,532,684.07, compared to an inflow of ¥301,382,761.74 in the previous period[23]. - The company reported a net cash outflow from investment activities of ¥278,879,862.00, compared to an outflow of ¥183,801,666.45 in the previous period[23]. - Cash flow from financing activities resulted in a net outflow of -54,593,173.89, contrasting with a net inflow of 7,065,975.76 in the previous period[114]. - The net cash flow from operating activities was -138,757,860.97, compared to -115,176,491.79 in the previous period, indicating a decline in operational cash flow[118]. Shareholder Information - Net assets attributable to shareholders of the listed company were ¥4,685,095,124.43, down 4.79% from the previous year[10]. - The largest shareholder, Haima (Shanghai) Investment Co., Ltd., holds 28.80% of the shares[15]. - The total number of ordinary shareholders at the end of the reporting period was 64,960[15]. Investment and Income - Non-operating income totaled ¥91,055,127.11, after accounting for tax effects and minority interests[10]. - Investment income dropped by 94.93% to ¥6,628,172.02 from ¥130,681,635.18, primarily due to the previous period's sale of Hai Ma Property equity[23]. - The company reported an investment income of 138,700,000.00, up from 47,370,000.00 in the previous period, reflecting improved investment performance[110]. Research and Development - Research and development expenses for the current period were ¥45,239,922.07, a decrease of 23.3% from ¥58,978,028.51 in the previous period[59]. - The company’s research and development expenses for the current period are approximately CNY 115.04 million, down from CNY 137.11 million in the previous period, a decrease of 16.1%[72]. Strategic Direction - The company plans to continue focusing on the development of new energy vehicles and expanding its market presence despite current challenges[23]. - The chairman of the company, Jing Zhu, provided insights into the company's strategic direction during the earnings call[138].

Financial Performance - The company's operating revenue for the first half of 2020 was ¥1,311,423,842.04, a decrease of 43.54% compared to ¥2,322,694,074.13 in the same period last year[23]. - The net profit attributable to shareholders of the listed company was -¥172,801,107.65, showing a slight improvement from -¥178,247,674.24 in the previous year[23]. - The net cash flow from operating activities was ¥23,021,268.84, a significant decline of 96.24% compared to ¥612,224,222.90 in the same period last year[23]. - Total assets at the end of the reporting period were ¥10,108,104,318.14, down 5.79% from ¥10,728,940,333.67 at the end of the previous year[23]. - The net assets attributable to shareholders of the listed company decreased by 3.53% to ¥4,746,900,067.91 from ¥4,920,708,741.72 at the end of the previous year[23]. - The basic earnings per share for the reporting period was -¥0.1051, compared to -¥0.1084 in the same period last year[23]. - The company reported a net profit attributable to shareholders of CNY -173 million, a reduction in losses by CNY 5.45 million compared to the same period last year[40]. - The total revenue from vehicle sales was ¥887,836,123.85, a decline of 57.75% year-on-year[50]. - The total operating revenue decreased by 43.54% to ¥1,311,423,842.04, with automotive manufacturing revenue down by 44.88%[46]. - The gross profit margin for automotive manufacturing was 4.65%, a decrease of 8.51% compared to the previous year[50]. - The company reported a significant increase in prepayments to CNY 117,088,118.58 from CNY 46,177,679.06, a growth of approximately 153.5%[164]. - The net loss attributable to shareholders increased to CNY -823,953,651.45 from CNY -651,152,543.80, indicating a worsening of approximately 26.4%[167]. Operational Highlights - In the first half of 2020, the company sold 6,529 vehicles, a year-on-year decrease of 55%, and achieved sales revenue of CNY 1.311 billion, down 43.54% compared to the previous year[40]. - The company's operating costs were CNY 1.209 billion, a decrease of 48.75% year-on-year, attributed to the decline in vehicle sales[43]. - The company’s management expenses increased by 13.26% year-on-year, amounting to CNY 247 million[43]. - The company has established a dynamic evaluation model for sales and parts orders to optimize costs and inventory management[42]. - The company plans to launch new products, including the Haima 6P and Haima 7X, which have met performance and production conditions[40]. - The company aims to enhance its marketing strategy by launching the Haima Automotive APP and establishing an integrated e-commerce platform[41]. - The company is focusing on technological advancements, including the development of a new electronic architecture and hydrogen fuel vehicles[41]. Cash Flow and Investments - Cash and cash equivalents decreased by ¥197,819,573.73, reflecting a significant cash outflow[46]. - Interest income dropped by 52.98% to ¥38,497,163.68 due to reduced loan issuance[46]. - The company reported a 91.88% increase in other income to ¥44,480,657.98, primarily from increased government subsidies[46]. - The company’s cash flow from financing activities decreased significantly due to increased loan repayments[46]. - The total cash inflow from operating activities was CNY 1,375,332,031.63, compared to CNY 2,262,005,879.24 in the same period last year[190]. - Cash flow from investing activities showed a net outflow of CNY 214,418,257.64, compared to a net outflow of CNY 263,828,322.64 in the first half of 2019[193]. - The total cash and cash equivalents at the end of the period amounted to CNY 1,210,480,148.57, an increase from CNY 1,078,959,248.34 at the end of the previous year[193]. Shareholder Information - The total number of shares is 1,644,636,426, with 99.85% being unrestricted shares[128]. - The largest shareholder, Haima (Shanghai) Investment Co., Ltd., holds 28.80% of the total shares, amounting to 473,600,000 shares[132]. - The company has not reported any significant matters requiring explanation during the reporting period[122]. - The top ten shareholders do not have any related party relationships or act in concert as defined by the regulations[135]. - The company has not undergone any changes in its controlling shareholder or actual controller during the reporting period[139]. Environmental and Social Responsibility - The company has implemented environmental monitoring measures, including online monitoring of COD, ammonia nitrogen, and total phosphorus, with all results meeting standards[112]. - The company has established an emergency response plan for environmental pollution incidents to ensure rapid and effective management[113]. - The company has committed to targeted poverty alleviation efforts in Wanning City, Hainan Province, as part of its social responsibility initiatives[115]. - The company invested a total of 600,000 CNY in two industrial assistance projects and 1,600,000 CNY in two infrastructure projects during the first half of 2020[116]. - The total financial input for poverty alleviation was 205,000 CNY, with 80,000 CNY in material discounts[117]. - The company plans to strengthen support for Beida Village by developing local specialty industries and conducting various agricultural training programs[121]. Risks and Compliance - The company faces risks that may impact its operations, as detailed in the report[6]. - The automotive industry is facing significant market risks, including overall declines in production and sales, leading to increased operational pressure on car manufacturers[69]. - The company has committed to strict adherence to regulations regarding competition and related transactions since June 2013[75]. - The company has not faced any significant litigation or arbitration matters during the reporting period[80].

Financial Performance - The company's operating revenue for Q1 2020 was ¥441,702,634.83, a decrease of 37.85% compared to ¥710,715,285.48 in the same period last year[7] - The net profit attributable to shareholders of the listed company was -¥99,186,354.64, worsening from -¥43,980,020.23 year-on-year[7] - The net profit for the period was CNY -101,556,931.44, a decline from CNY -47,204,727.59 in the previous period[18] - The total profit for the period was CNY -120,960,535.40, compared to CNY -58,730,906.91 in the previous period[18] - The total comprehensive loss for Q1 2020 was CNY 102,922,367.73, compared to a loss of CNY 57,039,289.01 in Q1 2019, indicating a 80.5% increase in comprehensive losses[44] Cash Flow - The net cash flow from operating activities was -¥379,074,224.53, a significant decline from ¥152,788,483.23 in the previous year[7] - The company reported a net cash outflow from operating activities of ¥379,074,224.53, contrasting with a net inflow of ¥152,788,483.23 in the previous period[51] - Cash flow from investment activities resulted in a net outflow of ¥344,818,633.74, compared to a smaller outflow of ¥50,444,727.00 in the previous period[51] - The cash flow from financing activities showed a net outflow of CNY 100,000,000.00[53] Assets and Liabilities - Total assets at the end of the reporting period were ¥10,014,872,971.56, down 6.66% from ¥10,728,940,333.67 at the end of the previous year[7] - The company's current assets totaled CNY 2,936,047,441.01, down from CNY 3,183,758,771.33 at the end of 2019, indicating a decrease of about 7.76%[32] - Total liabilities decreased to CNY 4,395,925,184.29 from CNY 5,007,070,178.67, a reduction of approximately 12.19%[35] - The total liabilities amounted to CNY 5,007,070,178.67[57] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 74,834[9] - The largest shareholder, Haima (Shanghai) Investment Co., Ltd., holds 28.80% of the shares, totaling 473,600,000 shares[10] - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[13] Earnings Per Share - The basic earnings per share for the period was -¥0.0603, compared to -¥0.0267 in the same period last year[7] - Basic and diluted earnings per share were both CNY -0.0603, compared to CNY -0.0267 in the previous year, reflecting a worsening financial performance[44] - The basic earnings per share for the current period was ¥0.0033, compared to a loss per share of ¥0.0021 in the previous period[49] Other Income and Expenses - The company reported non-operating income of ¥21,242,453.35 during the period, which includes government subsidies and other income[7] - The company's management expenses rose by 56.90% to CNY 141,898,873.10, due to idle factory and equipment costs[18] - The company recorded other income of CNY 12,493,258.78, significantly higher than CNY 4,274,042.87 in the same period last year[43] Investment and Financial Assets - The company's trading financial assets increased by 100% to CNY 200,637,237.74, due to increased investments in money market funds[18] - The company reported a significant increase in interest income to ¥331,031.16 from ¥69,025.50 in the previous period, reflecting improved financial management[48] Inventory and Receivables - Accounts receivable decreased by 33.73% to CNY 302,169,475.65, mainly due to a reduction in new energy subsidy receivables[18] - The company's accounts receivable decreased to CNY 302,169,475.65 from CNY 455,941,873.77, indicating a decline of about 33.69%[32] - Inventory increased to CNY 656,204,946.74 from CNY 570,776,296.74, marking an increase of about 14.93%[32]

Financial Performance - The company's operating revenue for 2019 was ¥4,690,972,421.39, a decrease of 7.06% compared to ¥5,047,154,941.36 in 2018[17]. - The net profit attributable to shareholders in 2019 was ¥85,196,161.58, a significant recovery from a loss of ¥1,637,180,342.11 in 2018[17]. - The net cash flow from operating activities was negative at ¥58,263,765.98, compared to a positive cash flow of ¥488,976,700.62 in 2018[17]. - The total assets at the end of 2019 were ¥10,728,940,333.67, down 6.37% from ¥11,458,328,766.97 in 2018[17]. - The net assets attributable to shareholders increased by 0.75% to ¥4,920,708,741.72 at the end of 2019, compared to ¥4,884,214,692.63 at the end of 2018[17]. - The basic earnings per share for 2019 was ¥0.0518, a recovery from a loss of ¥0.9955 in 2018[17]. - The weighted average return on net assets was 1.75% in 2019, recovering from -28.57% in 2018[17]. - The company reported a significant decrease in non-recurring losses, with a net profit excluding non-recurring items of -¥730,583,617.03 in 2019, an improvement from -¥1,708,714,285.35 in 2018[17]. - The automotive manufacturing segment generated ¥4,265,834,594.60, accounting for 90.94% of total revenue, down 9.38% from ¥4,707,135,495.24 in 2018[41]. - Vehicle sales volume dropped by 56.41% to 29,456 units in 2019 from 67,570 units in 2018[44]. Cash Flow and Investments - The company reported a 122.64% increase in cash and cash equivalents, attributed to cash received from the disposal of subsidiary equity[29]. - The company's non-current asset disposal gains amounted to approximately ¥800.86 million, a substantial increase from a loss of ¥19.56 million in 2018[24]. - The total cash inflow from investment activities was 4,521,499,225.13 CNY, down 23.44% from 5,905,657,321.67 CNY year-over-year[55]. - The net cash flow from financing activities increased by 99.33% to 334,447,693.39 CNY, compared to -976,516,899.92 CNY in the previous year[55]. - The company disposed of subsidiary equity, resulting in a net cash inflow from investment activities of 551,622,287.18 CNY[55]. Sales and Market Performance - In 2019, the company's automobile sales were 29,500 units, a significant decline compared to the previous year, aligning with the overall industry trend[35]. - The company reported a 15.8% decline in sales of Chinese brand passenger vehicles, reflecting broader market challenges[35]. - The company successfully explored feasibility in the Malaysian and Indian markets, achieving preliminary results in its export business[37]. Research and Development - The company’s R&D capabilities were enhanced, with the 1.6T GDI engine recognized as one of China's top ten engines in 2019[36]. - The company achieved a 96.8% voice recognition rate on its intelligent connected platform, with a 96.1% activation rate for the Haima 8S vehicle network[37]. - Research and development expenses decreased by 67.82% to ¥203,056,134.12, primarily due to reduced amortization of intangible assets[52]. - The number of R&D personnel decreased by 27.46% to 1,025, while R&D investment amounted to ¥678,812,253.19, representing 14.47% of total revenue[53]. Corporate Governance and Compliance - The company has engaged Lixin Accounting Firm for auditing services, with a fee of 630,000 yuan for the year[93]. - The audit opinion issued by the accounting firm was a standard unqualified opinion, confirming the fair presentation of the financial statements[194]. - The company has established a relatively complete governance structure in compliance with relevant laws and regulations[174]. - The company maintained effective internal financial controls as of December 31, 2019, according to the internal control audit report[188]. - There were no significant internal control deficiencies identified during the reporting period[185]. Shareholder and Management Information - The total number of shares outstanding is 1,644,636,426, with 99.85% being unrestricted shares[139]. - The largest shareholder, Haima (Shanghai) Investment Co., Ltd., holds 28.80% of the shares, totaling 473,600,000[141]. - The company has not disclosed any significant new strategies or major events during the reporting period[134]. - The company has maintained a stable management team with no significant changes in key positions during the reporting period[154][155]. - The total pre-tax compensation for the company's directors and senior management during the reporting period amounted to 453.80 million[167]. Environmental and Social Responsibility - The company is classified as a key pollutant discharge unit, with specific emissions monitored for nitrogen and phosphorus[126]. - The company has installed online monitoring equipment for COD, ammonia nitrogen, and total phosphorus, ensuring real-time compliance with environmental standards[128]. - The company provided a total of CNY 60,000 in assistance for two industrial support projects as part of its poverty alleviation efforts[121]. - The company participated in environmental cleanup activities with over 150 participants, removing 200 tons of waste[121]. - The company plans to enhance its poverty alleviation efforts in 2020, focusing on improving the living conditions and economic status of residents in Beida Village[123].

海马汽车股份有限公司 2019 年第三季度报告全文 海马汽车股份有限公司 2019 年第三季度报告 2019 年 10 月 1 海马汽车股份有限公司 2019 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人孙忠春、主管会计工作负责人肖丹及会计机构负责人(会计主管 人员)罗理想声明：保证季度报告中财务报表的真实、准确、完整。 2 海马汽车股份有限公司 2019 年第三季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 | --- | --- | --- | --- | --- | |-----------------------------------------------------|--------------------------------|-------------------------|-------------------|-------- ...

Financial Performance - The company's operating revenue for the first half of 2019 was ¥2,322,694,074.13, a decrease of 14.67% compared to ¥2,721,865,079.74 in the same period last year[25]. - The net profit attributable to shareholders of the listed company was -¥178,247,674.24, an improvement from -¥275,147,211.46 in the previous year[25]. - The net cash flow from operating activities was ¥612,224,222.90, a significant increase from -¥43,475,432.92 in the same period last year[25]. - Total assets at the end of the reporting period were ¥11,400,042,399.45, a slight decrease of 0.51% from ¥11,458,328,766.97 at the end of the previous year[25]. - The net assets attributable to shareholders of the listed company were ¥4,712,730,387.58, down 3.51% from ¥4,884,214,692.63 at the end of the previous year[25]. - The basic earnings per share for the reporting period was -¥0.1084, compared to -¥0.1673 in the same period last year[25]. - The weighted average return on net assets was -3.71%, an improvement from -4.30% in the previous year[25]. - The company reported a significant reduction in interest income, down 43.73% to ¥81.88 million due to decreased loan issuance[48]. - The company reported a total comprehensive loss of CNY 144,601,221.46 for the first half of 2019, compared to a loss of CNY 346,520,587.45 in the same period of 2018[168]. - The total profit for the first half of 2019 was a loss of CNY 183,864,574.37, compared to a loss of CNY 353,443,553.23 in the first half of 2018[167]. Operational Highlights - In the first half of 2019, the company sold 14,425 vehicles, a year-on-year decrease of 65.16%[44]. - The company plans to launch the new product 8S on July 8, 2019, aiming to boost sales and improve overall operations[44]. - The company aims to enhance its marketing strategy by integrating online and offline resources, focusing on e-commerce[45]. - The company is focusing on cost control and operational efficiency to reduce losses and improve profitability[45]. - The company is advancing its international market strategy to enhance competitiveness in overseas markets[45]. Research and Development - Research and development expenses rose by 20.51% year-on-year, totaling 306.58 million RMB[46]. - Research and development expenses decreased by 43.77% to ¥78.14 million due to a focus on product development[48]. Cash Flow and Liquidity - Cash and cash equivalents increased by 89.46% year-on-year, attributed to an increase in bank acceptance bill settlements[36]. - The ending balance of cash and cash equivalents increased to CNY 578,370,505.16 at the end of the first half of 2019, compared to CNY 1,610,176,870.00 at the beginning of the period[176]. - The company experienced a net increase in cash and cash equivalents of CNY 498,772,754.20 in the first half of 2019, contrasting with a net decrease of CNY 1,031,806,364.84 in the first half of 2018[173]. Market and Regulatory Environment - The company faces various risks as detailed in the report, including market competition and operational challenges[5]. - The implementation of the National VI emission standards has increased regulatory pressures on the company, necessitating a shift in product strategy[62]. - The company faced market risks due to a decline in overall automotive production and sales, exacerbated by the end of new energy subsidies[61]. Shareholder and Equity Information - The total number of shares is 1,644,636,426, with 99.85% being unrestricted shares[130]. - The largest shareholder, Haima (Shanghai) Investment Co., held 28.80% of shares, totaling 473,600,000 shares[139]. - The total equity attributable to shareholders decreased to CNY 4,712,730,387.58 from CNY 4,884,214,692.63, a decline of around 3.51%[161]. Community and Social Responsibility - The company invested over 100,000 RMB in April 2019 to build a Party-Mass Activity Service Center in Beida Village[116]. - A total of 10 million RMB was allocated for poverty alleviation efforts, with 91 registered impoverished individuals lifted out of poverty[118]. - The company is committed to improving the living environment in Beida Village by implementing sewage treatment and sanitation projects[123]. Environmental Initiatives - The company has installed online monitoring devices for COD, ammonia nitrogen, and total phosphorus, ensuring real-time monitoring of wastewater quality[109]. - The company has implemented an environmental pollution accident emergency plan to enhance response capabilities[111]. - The company regularly publishes monitoring results from qualified monitoring units to ensure transparency in pollutant information[113]. Corporate Governance - The financial report for the first half of 2019 was not audited[157]. - The company has not engaged in any significant outsourcing, contracting, or leasing activities that would impact profits by over 10% during the reporting period[96]. - The company has established financial service agreements with related parties to facilitate daily operations and financial transactions[87].