Revenue and Profitability - Revenue for Q3 2022 reached ¥465,057,813.71, an increase of 107.15% compared to the same period last year[7] - Net profit attributable to shareholders was -¥97,198,844.95, with a year-to-date net profit of -¥194,979,458.44[7] - The company reported a 50.38% increase in operating income year-to-date, totaling ¥1,730,022,668.12[11] - Total operating revenue for the period reached ¥1,752,888,292.19, a significant increase from ¥1,187,680,494.68 in the previous period, representing a growth of approximately 47.7%[24] - Operating income was ¥1,730,022,668.12, up from ¥1,150,412,384.19, indicating a year-over-year increase of about 50.2%[24] - The net profit for Q3 2022 was -217,155,137.01 CNY, compared to -170,944,726.11 CNY in the same period last year, reflecting a significant increase in losses[26] - Operating profit for Q3 2022 was -223,561,315.13 CNY, compared to -205,000,338.93 CNY in Q3 2021, indicating a worsening operational performance[26] - Total comprehensive income for Q3 2022 was -218,339,444.33 CNY, compared to -182,310,057.25 CNY in Q3 2021, showing a decline in overall financial health[26] Cash Flow and Liquidity - Operating cash flow for the year-to-date period increased by 202.73% to ¥512,778,873.70[7] - Cash flow from operating activities for the period was 512,778,873.70 CNY, a substantial increase from 169,384,746.52 CNY in the previous year[31] - The company reported a decrease in cash inflow from other operating activities, which was 76,216,418.37 CNY compared to 51,749,381.66 CNY last year[31] - The cash flow from investing activities showed a net outflow of -279,513,760.60 CNY, contrasting with a net inflow of 13,084,849.19 CNY in the previous year[31] - The cash and cash equivalents at the end of the period increased to 1,729,314,555.47 CNY from 1,020,954,238.00 CNY at the end of the previous year[31] Assets and Liabilities - Total assets at the end of the reporting period were ¥7,854,907,538.88, a decrease of 4.29% from the previous year[7] - Total liabilities were reported at ¥3,520,870,641.88, a decrease from ¥3,654,895,111.22, indicating a reduction of about 3.7%[23] - The company's cash and cash equivalents stood at ¥540,507,169.45, down from ¥715,891,330.24, representing a decline of approximately 24.4%[17] - Inventory levels decreased to ¥697,113,369.06 from ¥717,646,315.24, reflecting a reduction of about 2.8%[17] - The total equity attributable to shareholders was ¥3,480,553,149.15, down from ¥3,676,661,004.03, reflecting a decrease of about 5.3%[23] - Shareholders' equity attributable to the parent company decreased by 5.33% to ¥3,480,553,149.15[7] Shareholder Information - The number of common shareholders at the end of the reporting period was 89,589[12] - The largest shareholder, Haima (Shanghai) Investment Co., Ltd., holds 28.80% of the shares[12] Expenses - Total operating costs amounted to ¥2,053,694,418.25, compared to ¥1,499,646,337.78 in the prior period, reflecting an increase of approximately 37%[24] - Research and development expenses for the period were ¥164,579,163.44, compared to ¥153,659,760.62 in the previous period, showing an increase of about 7%[24] Non-Recurring Items - Non-recurring gains and losses for the current period totaled ¥10,381,897.41[8] - The company experienced a significant increase in tax refunds received, amounting to 223,604,318.24 CNY, compared to 64,597,339.96 CNY in the previous year[31]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥1,264,964,854.41, representing a 36.62% increase compared to ¥925,914,149.47 in the same period last year[27]. - The net profit attributable to shareholders of the listed company was a loss of ¥97,780,613.49, compared to a loss of ¥83,037,713.99 in the previous year[27]. - The net cash flow from operating activities was ¥97,419,889.19, an increase of 43.69% from ¥67,799,583.61 in the same period last year[27]. - The basic earnings per share for the reporting period was -¥0.0595, compared to -¥0.0505 in the same period last year[27]. - The company reported a net loss of ¥118,215,486.92, compared to a net loss of ¥71,289,703.06 in the first half of 2021, indicating a deterioration in profitability[168]. - The total comprehensive loss for the first half of 2022 was ¥119,042,529.43, compared to a loss of ¥71,415,457.52 in the first half of 2021, indicating a worsening financial position[168]. - The company reported a significant decrease in other business income, which fell by 61.75% to ¥48,179,706.52[40]. - The company reported a financial expense of -¥113,185.15 in the first half of 2022, a significant improvement compared to ¥5,791,371.80 in the first half of 2021[166]. Assets and Liabilities - Total assets at the end of the reporting period were ¥7,375,657,250.18, a decrease of 10.13% from ¥8,207,271,452.55 at the end of the previous year[27]. - The net assets attributable to shareholders of the listed company were ¥3,578,109,258.91, down 2.68% from ¥3,676,661,004.03 at the end of the previous year[27]. - Cash and cash equivalents at the end of the reporting period amounted to ¥498.70 million, representing 6.76% of total assets, down from 8.72% at the end of the previous year, a decrease of 1.96%[49]. - Accounts receivable decreased to ¥199.11 million, accounting for 2.70% of total assets, down from 3.45% last year, a reduction of 0.75%[49]. - Inventory stood at ¥647.36 million, making up 8.78% of total assets, slightly up from 8.74% last year, an increase of 0.04%[49]. - The total number of shares was 1,644,636,426, with 99.85% being unrestricted shares[129]. - The total liabilities decreased by 771,131.63, showing a reduction in financial obligations[184]. Revenue and Costs - The automotive manufacturing segment generated ¥919,404,448.01, accounting for 72.68% of total revenue, with a year-on-year growth of 17.70%[40]. - The company's operating costs rose to ¥1,038,977,688.23, reflecting a 37.47% increase compared to the previous year[43]. - Operating costs increased to ¥1,436,819,092.73 in the first half of 2022, compared to ¥1,138,862,676.60 in the first half of 2021, reflecting a rise of about 26.2%[166]. Investments and R&D - Research and development expenses amounted to ¥84,300,428.82, representing a 6.49% increase year-on-year[43]. - Research and development expenses for the first half of 2022 were ¥106,657,725.93, a decrease from ¥114,826,938.84 in the first half of 2021, reflecting a reduction of approximately 7.1%[166]. Market and Strategic Initiatives - The company aims to enhance its competitive edge in the electric and smart vehicle sectors, focusing on the "new four modernizations": electrification, intelligence, shared mobility, and low-carbon energy[38]. - The company is exploring the establishment of a "low-carbon automotive ecosystem" in Hainan, integrating upstream green electricity and downstream mobility services[38]. - The company plans to expand its market presence by leveraging resources from the Hainan Free Trade Port and exploring overseas markets[65]. - The company is focusing on transitioning to new energy vehicles and smart cars, launching long-range intelligent connected electric vehicles and plug-in hybrid vehicles[65]. Environmental and Social Responsibility - The company has installed online monitoring equipment for COD, ammonia nitrogen, and total phosphorus, ensuring real-time monitoring of wastewater quality[79]. - A distributed photovoltaic project with a capacity of 4.6MW was launched on April 26, 2022, marking the start of the company's transition to zero-carbon emission vehicles[84]. - The company emphasizes a green, energy-saving development philosophy, continuously investing in environmental protection measures[79]. - A total of 203 households were visited for poverty alleviation discussions, with 150 participants in village representative meetings[85]. - The company established an education development promotion association, donating CNY 10,000 to support 187 impoverished students[85]. Governance and Compliance - There were no changes in the board of directors, supervisors, or senior management during the reporting period[71]. - The company has strictly fulfilled all commitments related to avoiding competition and regulating related transactions since June 2013[90]. - There were no significant litigation or arbitration matters reported during the reporting period[96]. - The semi-annual financial report was not audited[92]. Miscellaneous - The company did not engage in any asset or equity acquisition or sale transactions during the reporting period[97]. - The company did not engage in any entrusted wealth management during the reporting period[122]. - The company did not report any new capital contributions from owners during this period[190].

Revenue and Profitability - Revenue for Q1 2022 reached ¥710,111,435.14, an increase of 119.95% compared to ¥322,849,660.73 in the same period last year[3] - Total revenue for the period reached ¥716,879,406.52, a significant increase from ¥336,053,854.34 in the previous period, representing a growth of approximately 113%[24] - Operating income was ¥710,111,435.14, up from ¥322,849,660.73, indicating a growth of around 120%[24] - Net profit attributable to shareholders was -¥60,925,369.34, slightly improved from -¥62,872,413.81 year-on-year[3] - The net profit for the current period is -88,182,776.65, compared to -60,006,479.82 in the previous period, indicating a worsening performance[30] - The total operating profit is -64,929,228.94, an improvement from -75,644,793.16 in the previous period[30] - The total comprehensive income for the current period is -88,655,318.08, compared to -60,097,745.87 in the previous period[30] Cash Flow and Financial Activities - Cash flow from operating activities was -¥298,995,788.47, worsening from -¥175,878,746.70 in the previous year[3] - The cash flow from operating activities shows a net outflow of -298,995,788.47, worsening from -175,878,746.70 in the previous period[34] - The cash flow from investing activities has a net outflow of -142,980,808.80, compared to -34,203,000.78 in the previous period[34] - The cash flow from financing activities shows a net inflow of 98,044,892.05, improving from -5,642,687.60 in the previous period[34] - The total operating cash outflow is 678,303,852.59, compared to 611,054,605.95 in the previous period[34] Assets and Liabilities - Total assets decreased by 9.52% to ¥7,425,592,973.78 from ¥8,207,271,452.55 at the end of the previous year[3] - The company's total assets were reported at ¥7,425,592,973.78, down from ¥8,207,271,452.55, reflecting a decrease of about 9%[22] - Total liabilities decreased to ¥2,961,871,950.54 from ¥3,654,895,111.22, a reduction of approximately 19%[23] - Non-current assets totaled ¥4,864,723,679.30, down from ¥5,025,814,126.54, indicating a decline of about 3%[20] Operating Costs and Expenses - The company reported a significant increase in operating costs, which rose by 114.15% to ¥554,387,410.02 due to increased export sales and real estate project deliveries[7] - Total operating costs amounted to ¥766,598,799.52, compared to ¥452,462,086.03 in the prior period, reflecting an increase of about 69%[24] - The company reported a decrease in research and development expenses to 53,828,006.32 from 61,527,252.44 in the previous period[30] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 86,632, with the largest shareholder holding 28.80% of the shares[9] - The company engaged in related transactions totaling ¥194,840,200 with its subsidiary during the reporting period[13] Cash and Inventory - The company's cash and cash equivalents decreased to ¥535,547,479.40 from ¥715,891,330.24, a decline of approximately 25%[19] - The company has a cash and cash equivalents balance of 1,060,904,627.57 at the end of the period, down from 1,405,460,719.97 at the beginning[34] - Accounts receivable decreased to ¥260,694,593.12 from ¥282,881,198.31, a reduction of about 8%[19] - Inventory levels dropped to ¥607,253,772.20 from ¥717,646,315.24, representing a decrease of approximately 15%[19]

Financial Performance - The company's operating revenue for 2021 was ¥1,762,567,426.41, representing a 28.18% increase compared to ¥1,375,093,247.26 in 2020[27]. - The net profit attributable to shareholders in 2021 was ¥111,678,196.66, a significant recovery from a loss of ¥1,335,103,939.22 in 2020, marking a 108.36% improvement[27]. - The net cash flow from operating activities was ¥163,003,997.64, up 48.45% from ¥109,801,645.26 in the previous year[27]. - The basic earnings per share for 2021 was ¥0.0679, compared to a loss of ¥0.8118 per share in 2020, reflecting a 108.36% increase[27]. - The total assets at the end of 2021 were ¥8,207,271,452.55, a decrease of 10.87% from ¥9,208,333,394.09 at the end of 2020[27]. - The net assets attributable to shareholders increased by 2.57% to ¥3,676,661,004.03 at the end of 2021, compared to ¥3,584,505,461.93 at the end of 2020[27]. - The company reported a weighted average return on equity of 3.07% in 2021, a significant recovery from -31.39% in 2020[27]. - The net profit after deducting non-recurring gains and losses was negative, indicating ongoing challenges in profitability[27]. Sales and Market Performance - The production and sales of MPVs increased by 515.46% and 472.98% respectively in 2021, indicating a strong market response to the Haima 7X model[45]. - The total sales volume of SUVs reached 22,609 units in 2021, a 45.08% increase from the previous year[45]. - The domestic sales of vehicles increased by 26.07% in 2021, reflecting the company's focus on SUV and MPV categories[48]. - The average selling price of domestic products increased from approximately ¥60,000 to ¥150,000, indicating a shift towards higher-value offerings[44]. - The South China region accounted for 81.13% of total revenue, with a significant year-on-year increase of 78.85%[62]. - The company is expanding its overseas market presence, with the S5-PLUS project receiving positive market feedback[61]. Research and Development - The company has developed six major technology platforms, including modular vehicles and efficient hybrid powertrains[53]. - The 7E project, a high-end intelligent pure electric vehicle, achieved a range of over 500 km and features advanced functionalities[56]. - The company’s hydrogen vehicle development is progressing, with a prototype achieving a range of 800 km[58]. - The company produced a total of 13,511 new energy vehicles, with sales revenue amounting to CNY 66.74 million[50]. - R&D investment amounted to ¥150,288,982.59 in 2021, a decrease of 36.08% compared to ¥235,106,732.57 in 2020, representing 8.53% of operating revenue[85]. - The number of R&D personnel decreased by 42.13% from 534 in 2020 to 309 in 2021, with a significant drop in the proportion of R&D personnel from 17.10% to 5.04%[85]. Environmental Compliance - The company reported a total wastewater discharge of 0.600128 tons for COD, 0.003724 tons for ammonia nitrogen, and 0.003197 tons for total phosphorus, all within the permitted limits[196]. - Air emissions from the company included 1.183777 tons of nitrogen oxides and 3.628757 tons of particulate matter, both compliant with regulatory standards[196]. - The company operates two wastewater treatment stations, ensuring compliance with environmental discharge standards[196]. - Haima's organized emissions for volatile organic compounds (VOCs) were compliant, with xylene levels below 70 mg/Nm³ and particulate matter below 120 mg/Nm³[200]. Corporate Governance - The company maintains complete independence from its controlling shareholders in personnel, assets, finance, organization, and business operations[130]. - The company has established an independent financial department with its own accounting system and tax obligations[130]. - The company has a clear asset ownership structure, with all assets owned by the listed company[130]. - The company has a well-established organizational structure independent of its controlling shareholders[130]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 444.87 million[157]. - The company has a structured remuneration decision process reviewed by the remuneration and assessment committee of the board[157]. Future Outlook and Strategy - The company provided a positive outlook for 2022, projecting a revenue growth of 25% and aiming to reach 1.875 billion[145]. - New product launches are expected to contribute an additional 300 million in revenue in the upcoming fiscal year[145]. - The company plans to develop hydrogen fuel cell vehicles with a range of 800KM, indicating a focus on sustainable energy solutions[85]. - The company aims to establish a full industrial chain green automotive ecosystem in Hainan, leveraging the unique advantages of the Hainan Free Trade Port[118]. - The international strategy aims for significant growth in overseas market sales, with products like the Haima 8S and Haima 7X being launched in the Middle East and Southeast Asia[119]. Risk Management - The company faces market risks due to increased competition from tech and internet sectors entering the automotive industry[120]. - Policy risks include stricter national regulations on fuel consumption and emissions, necessitating a shift towards new energy and smart vehicles[120]. - The company is addressing raw material price and supply risks by establishing a self-operated auto parts subsidiary and optimizing the supplier system[121]. - The company emphasizes strict adherence to internal control systems, ensuring compliance and effective risk management throughout its operations[183].

Financial Performance - Revenue for Q3 2021 was ¥224,498,234.72, a decrease of 28.50% compared to the same period last year[5] - Net profit attributable to shareholders was -¥87,996,130.82, with a year-to-date net profit of -¥171,033,844.81[5] - Total operating revenue for the period reached ¥1,187,680,494.68, an increase of approximately 19.4% compared to ¥994,739,409.77 in the previous period[28] - Operating income was ¥1,150,412,384.19, up from ¥938,110,705.95, reflecting a growth of about 22.5%[28] - Net profit for the period was a loss of ¥170,944,726.11, an improvement from a loss of ¥215,787,327.60 in the previous period[28] - The total comprehensive income attributable to the parent company's owners was -¥182,347,322.82, compared to -¥235,613,617.29 in the previous period, indicating an improvement[31] - The basic and diluted earnings per share were both -¥0.1040, an improvement from -¥0.1426 in the previous period[31] Assets and Liabilities - Total assets decreased by 10.13% to ¥8,275,807,536.41 compared to the end of the previous year[5] - Total assets decreased to ¥8,275,807,536.41 from ¥9,208,333,394.09, a decline of about 10.1%[24] - Total liabilities decreased to ¥4,021,152,694.14 from ¥4,771,368,494.57, a reduction of approximately 15.7%[24] - The company reported a decrease in total non-current assets to ¥5,468,756,141.42 from ¥5,978,451,683.07, a decline of approximately 8.5%[24] - The total equity attributable to shareholders decreased to ¥3,402,158,139.11 from ¥3,584,505,461.93, a drop of about 5.1%[24] - Total current liabilities were CNY 4,475,771,168.13 as of the latest report, with a slight increase of CNY 123,700.00 compared to the previous period[41] - Total liabilities amounted to CNY 4,771,368,494.57, showing an increase of CNY 5,288,132.56 from the previous reporting period[41] - The total equity attributable to shareholders was CNY 3,584,505,461.93, remaining unchanged in the latest report[44] Cash Flow - Cash flow from operating activities for the year-to-date was ¥169,384,746.52, indicating a positive cash flow[8] - The net cash flow from operating activities was ¥169,384,746.52, a significant recovery from -¥101,532,684.07 in the previous period[35] - Cash received from sales of goods and services was ¥1,490,220,813.50, down from ¥2,005,788,155.87 year-over-year[32] - The total cash outflow from operating activities was ¥1,800,342,736.13, compared to ¥2,142,368,338.41 in the previous period, showing a reduction in cash outflow[35] - The net cash flow from investing activities was ¥13,084,849.19, recovering from -¥278,879,862.00 in the previous period[35] - Cash and cash equivalents at the end of the period were ¥1,020,954,238.00, compared to ¥973,159,998.13 at the end of the previous period, indicating an increase[35] - The company paid ¥424,968,360.02 in debt repayments, compared to ¥512,000,000.00 in the previous period, reflecting a decrease in financing outflows[35] Shareholder Information - The total number of common shareholders at the end of the reporting period was 100,425[12] - The largest shareholder, Haima (Shanghai) Investment Co., Ltd., holds 28.80% of the shares, totaling 473,600,000 shares[12] - The second largest shareholder, Haima Investment Group Co., Ltd., holds 5.66% of the shares, totaling 93,022,951 shares[12] - The total number of preferred shareholders at the end of the reporting period was not applicable[15] Research and Development - Research and development expenses increased by 33.57% to ¥153,659,760.62 due to the amortization of non-patented technology[8] - Research and development expenses increased to ¥153,659,760.62, compared to ¥115,038,985.41, marking a rise of approximately 33.7%[28] Inventory and Borrowings - Inventory increased by 48.52% to ¥708,588,310.94, attributed to the rise in complete vehicle and component stock[8] - The company reported a significant reduction in short-term borrowings, down 100% to ¥0, due to repayment of bank loans[8] - The company's cash and cash equivalents as of September 30, 2021, were approximately ¥782.80 million, down from ¥1,112.83 million at the end of 2020[17] - Accounts receivable amounted to ¥239.06 million as of September 30, 2021, compared to ¥254.16 million at the end of 2020[17] Related Party Transactions - The total related party transactions from January to September 2021 amounted to ¥54.94 million with Hainan Haima New Energy Vehicle Sales Co., Ltd.[15] - The company has no related party transactions that harm its interests, as all transactions were executed at market fair prices[15] Future Outlook - The company plans to continue focusing on expanding its electric vehicle offerings and improving operational efficiency[6] - The company continues to focus on expanding its market presence and enhancing its product offerings, although specific new products or technologies were not detailed in the report[43] - The company has implemented new leasing standards starting from 2021, which may impact future financial reporting[45] - The company has not audited the third-quarter report, which may affect the reliability of the financial data presented[45]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥925,914,149.47, representing a 48.35% increase compared to ¥624,130,621.73 in the same period last year[27]. - The net profit attributable to shareholders was -¥83,037,713.99, an improvement of 51.95% from -¥172,801,107.65 year-on-year[27]. - The net cash flow from operating activities increased significantly by 194.51%, reaching ¥67,799,583.61 compared to ¥23,021,268.84 in the previous year[27]. - Total revenue for the reporting period was approximately ¥925.91 million, an increase of 48.35% compared to ¥624.13 million in the same period last year, primarily due to increased vehicle sales[41]. - The company reported a net loss of ¥71,289,703.06 for the first half of 2021, an improvement from a net loss of ¥154,687,092.02 in the same period of 2020[172]. - The total comprehensive loss for the first half of 2021 was ¥71,415,457.52, compared to a loss of ¥156,569,158.44 in the same period of 2020, indicating a narrowing of losses[175]. - The net profit for the first half of 2021 was CNY 27,618,148.91, compared to CNY 9,773,320.31 in the same period of 2020, representing an increase of approximately 182.3%[179]. - The operating profit for the first half of 2021 was CNY 35,526,871.99, significantly higher than CNY 8,194,784.39 in the previous year, indicating a growth of about 334.5%[179]. Assets and Liabilities - The total assets at the end of the reporting period were ¥8,699,285,607.79, a decrease of 5.53% from ¥9,208,333,394.09 at the end of the previous year[27]. - The total liabilities decreased to ¥4,333,736,165.79 from ¥4,771,368,494.57, a reduction of about 9.21%[157]. - The company's total assets as of June 30, 2021, were ¥8,699,285,607.79, down from ¥9,208,333,394.09, indicating a decrease of approximately 5.52%[159]. - The total liabilities amounted to ¥724,823,461.88, compared to ¥458,320,735.08, reflecting a 58.1% increase[168]. - The total equity attributable to shareholders decreased to ¥3,501,403,160.13 from ¥3,584,505,461.93, a decline of about 2.31%[160]. Cash Flow - The cash flow from operating activities generated a net amount of CNY 67,799,583.61, compared to CNY 23,021,268.84 in the first half of 2020, reflecting an increase of approximately 194.5%[182]. - The total cash inflow from operating activities was CNY 1,374,246,787.84, slightly down from CNY 1,375,332,031.63 in the previous year[182]. - The cash flow from investing activities showed a net inflow of CNY 48,661,048.09, a significant improvement from a net outflow of CNY 214,418,257.64 in the same period of 2020[185]. - The ending balance of cash and cash equivalents was 173,337,566.47 CNY, up from 15,875,278.58 CNY at the end of the previous period[189]. Shareholder Information - The total number of shares is 1,644,636,426, with 99.85% being unrestricted shares[129]. - The largest shareholder, Haima (Shanghai) Investment Co., Ltd., holds 28.80% of the shares, totaling 473,600,000 shares[132]. - The total number of common shareholders at the end of the reporting period is 89,252, with 10 shareholders holding more than 5%[132]. - The company’s half-year financial report has not been audited[149]. - There are no preferred shares issued by the company during the reporting period[142]. Research and Development - Research and development expenses increased by 64.51% to ¥114.83 million, attributed to the rise in non-patent technology amortization[43]. - Research and development expenses rose to ¥114,826,938.84, significantly higher than ¥69,799,063.34 in the previous year, indicating a focus on innovation[172]. 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[77]. - All environmental monitoring results have met the required standards, with no administrative penalties received for environmental issues during the reporting period[81]. - The company has committed to green and energy-saving development, investing annually in environmental governance funds to improve waste management[77]. - The company actively participates in poverty alleviation efforts, contributing to the success of targeted poverty alleviation in Hainan Province[84]. Strategic Initiatives - The company plans to launch new energy vehicles, including long-range smart connected electric vehicles and plug-in hybrid vehicles, to address regulatory pressures and market demands[62]. - The company is focusing on cost reduction and efficiency improvement by divesting low-efficiency assets and enhancing core business operations[62]. - The company has established direct experience centers in multiple cities, including Sanya and Dongguan, to enhance marketing efforts and operational efficiency[38]. Legal and Compliance - There were no significant litigation or arbitration matters reported during the period, indicating a stable legal environment for the company[95]. - The company has reported no violations regarding external guarantees during the reporting period, reflecting sound financial practices[90].

[Important Notice](index=2&type=section&id=Section%201.%20Important%20Notice) The report's accuracy and completeness are affirmed by the board, supervisory board, and senior management [Statement by the Board of Directors, Supervisory Board, and Senior Management](index=2&type=section&id=1.1%20Statement%20by%20the%20Board%20of%20Directors%2C%20Supervisory%20Board%2C%20and%20Senior%20Management) The Board, Supervisory Board, and senior management affirm the quarterly report's accuracy and completeness - The company's Board of Directors, Supervisory Board, and directors, supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, with no false records, misleading statements, or major omissions[5](index=5&type=chunk) - Company head Sun Zhongchun, head of accounting work Qin Ming, and head of accounting department Luo Lixiang declare that the financial statements in the quarterly report are true, accurate, and complete[6](index=6&type=chunk) [Company Profile](index=3&type=section&id=Section%202.%20Company%20Profile) This section presents key financial data and shareholder information for the reporting period [Key Accounting Data and Financial Indicators](index=3&type=section&id=2.1%20Key%20Accounting%20Data%20and%20Financial%20Indicators) Q1 2021 operating revenue increased by **59.85%** to **323 million Yuan**, with net loss narrowing and operating cash flow improving Key Financial Indicators for Q1 2021 | Indicator | Current Reporting Period | Prior Year Period | Change Percentage | | :--- | :--- | :--- | :--- | | Operating Revenue (Yuan) | 322,849,660.73 | 201,968,912.14 | 59.85% | | Net Profit Attributable to Shareholders (Yuan) | -62,872,413.81 | -99,186,354.64 | Loss Narrowed | | Net Cash Flow from Operating Activities (Yuan) | -175,878,746.70 | -379,074,224.53 | Loss Narrowed | | Basic Earnings Per Share (Yuan/share) | -0.0382 | -0.0603 | Loss Narrowed | | Total Assets (Yuan) | 8,644,033,913.11 | - | -6.13% (vs. End of Prior Year) | | Net Assets Attributable to Shareholders (Yuan) | 3,521,583,414.60 | - | -1.76% (vs. End of Prior Year) | Non-Recurring Gains and Losses Items and Amounts | Item | Amount from Year Start to End of Reporting Period (Yuan) | | :--- | :--- | | Gains/Losses on Disposal of Non-Current Assets | 20,978,046.65 | | Government Grants Recognized in Current Period P&L | 7,423,898.74 | | Gains/Losses from Debt Restructuring | 6,694,219.81 | | Other Non-Operating Income/Expenses | 650,541.01 | | **Total** | **26,410,927.35** | [Shareholder Information](index=4&type=section&id=2.2%20Total%20Shareholders%20and%20Top%20Ten%20Shareholders%27%20Holdings%20at%20Period-End) The company had **59,459** common shareholders at period-end, with the top two being related parties under the same ultimate controller - At the end of the reporting period, the company had **59,459** common shareholders[15](index=15&type=chunk) Top Ten Shareholders' Holdings | Shareholder Name | Number of Shares Held (shares) | | :--- | :--- | | Haima (Shanghai) Investment Co., Ltd. | 473,600,000 | | Haima Investment Group Co., Ltd. | 93,022,951 | | Hong Zejun | 60,350,000 | | He Xueping | 49,984,198 | | Hainan Jiamei Solar Energy Co., Ltd. | 49,885,782 | - The company's largest and second-largest shareholders are related parties under the same ultimate controller, with no other related party relationships or concerted actions among the top ten shareholders[18](index=18&type=chunk) [Significant Matters](index=6&type=section&id=Section%203.%20Significant%20Matters) This section details significant financial data changes, commitment fulfillment, and other important operational matters [Analysis of Changes in Key Financial Data](index=6&type=section&id=3.1%20Changes%20and%20Reasons%20for%20Key%20Financial%20Data%20and%20Indicators%20in%20the%20Reporting%20Period) Key financial indicators showed significant changes, including a **59.85%** increase in operating revenue and narrowed net loss from improved sales and margins Changes and Reasons for Key Financial Indicators | Statement Item | Change Rate | Reason for Change | | :--- | :--- | :--- | | Operating Revenue | 59.85% | Due to increased vehicle sales | | Management Expenses | -35.83% | Due to workshop shutdown during prior period's pandemic | | R&D Expenses | 151.45% | Due to increased accumulated amortization of non-patented technology in current period | | Financial Expenses | -86.80% | Due to decreased bank borrowings in current period | | Net Profit | - | Due to increased vehicle sales and gross profit margin | | Net Cash Flow from Operating Activities | - | Due to decreased payment for goods in current period | [Fulfillment of Commitments](index=6&type=section&id=3.2%20Unfulfilled%20Commitments%20by%20Actual%20Controller%2C%20Shareholders%2C%20Related%20Parties%2C%20Acquirers%2C%20and%20the%20Company%20During%20the%20Reporting%20Period) The company's actual controller, shareholders, and related parties strictly fulfilled commitments on independence, competition, and related-party transactions - Haima (Shanghai) Investment Co., Ltd. and Haima Investment Group Co., Ltd. committed to maintaining "five separations" (business, assets, personnel, organization, finance) with the company to ensure its independence and integrity, and to avoid horizontal competition and regulate related-party transactions. During the reporting period, all relevant commitments were strictly fulfilled[23](index=23&type=chunk)[26](index=26&type=chunk) [Other Significant Matters](index=7&type=section&id=3.3%20Other%20Significant%20Matters) The company disclosed related-party transactions totaling **195 million Yuan** and **3.6605 million Yuan**, with no securities investments or irregular financial activities - From January to March 2021, the company's total related-party transactions with Hainan FAW Haima Automobile Sales Co., Ltd., in which it holds a 50% stake, amounted to **195.0933 million Yuan**; total related-party transactions with the second-largest shareholder Haima Investment Group Co., Ltd. and its subsidiaries amounted to **3.6605 million Yuan**[27](index=27&type=chunk) - During the reporting period, the company had no securities investments, derivative investments, raised fund investment projects, significant daily operating contracts, entrusted wealth management, irregular external guarantees, or occupation of funds by controlling shareholders[28](index=28&type=chunk)[29](index=29&type=chunk)[30](index=30&type=chunk)[32](index=32&type=chunk)[33](index=33&type=chunk)[34](index=34&type=chunk) [Financial Statements](index=9&type=section&id=Section%204.%20Financial%20Statements) This section presents the consolidated financial statements, including the balance sheet, income statement, cash flow statement, and related adjustments [Consolidated Balance Sheet](index=9&type=section&id=4.1%20Consolidated%20Balance%20Sheet) As of March 31, 2021, total assets were **8.644 billion Yuan** and total liabilities were **4.267 billion Yuan**, both declining from year-start Key Items from Consolidated Balance Sheet (Unit: Yuan) | Item | March 31, 2021 | December 31, 2020 | | :--- | :--- | :--- | | **Total Assets** | **8,644,033,913.11** | **9,208,333,394.09** | | Cash and Cash Equivalents | 823,955,436.39 | 1,112,832,620.05 | | Accounts Receivable | 157,693,387.71 | 254,156,205.56 | | Inventories | 597,021,934.35 | 477,104,331.87 | | Fixed Assets | 2,609,589,937.36 | 2,704,299,367.20 | | **Total Liabilities** | **4,267,166,759.46** | **4,771,368,494.57** | | Short-term Borrowings | 434,968,360.02 | 619,397,653.25 | | Notes Payable | 747,034,258.74 | 793,253,997.12 | | Accounts Payable | 828,551,129.12 | 856,251,599.99 | | **Total Owners' Equity** | **4,376,867,153.65** | **4,436,964,899.52** | | Total Owners' Equity Attributable to Parent Company | 3,521,583,414.60 | 3,584,505,461.93 | [Consolidated Income Statement](index=14&type=section&id=4.2%20Consolidated%20Income%20Statement) Q1 2021 total operating revenue was **336 million Yuan**, a **50.71%** increase, with net loss attributable to parent shareholders significantly narrowed Key Items from Consolidated Income Statement (Unit: Yuan) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | I. Total Operating Revenue | 336,053,854.34 | 222,979,041.01 | | Of which: Operating Revenue | 322,849,660.73 | 201,968,912.14 | | II. Total Operating Costs | 452,462,086.03 | 385,073,804.39 | | Of which: Operating Costs | 258,882,223.64 | 177,869,550.77 | | R&D Expenses | 61,527,252.44 | 24,468,845.00 | | III. Operating Profit | -75,644,793.16 | -122,354,106.93 | | IV. Total Profit | -74,995,171.96 | -120,960,535.40 | | V. Net Profit | -60,006,479.82 | -101,556,931.44 | | Net Profit Attributable to Parent Company Shareholders | -62,872,413.81 | -99,186,354.64 | | VIII. Basic Earnings Per Share | -0.0382 | -0.0603 | [Consolidated Cash Flow Statement](index=18&type=section&id=4.3%20Consolidated%20Cash%20Flow%20Statement) Q1 2021 net cash outflow from operating activities significantly improved to **-176 million Yuan**, with total cash and equivalents at **893 million Yuan** Key Items from Consolidated Cash Flow Statement (Unit: Yuan) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -175,878,746.70 | -379,074,224.53 | | Net Cash Flow from Investing Activities | -34,203,000.78 | -344,818,633.74 | | Net Cash Flow from Financing Activities | -5,642,687.60 | -17,763,235.05 | | Net Increase in Cash and Cash Equivalents | -215,749,401.40 | -741,467,502.16 | | Cash and Cash Equivalents at Period-End | 893,229,825.78 | 666,832,220.14 | [Explanation of Financial Statement Adjustments](index=21&type=section&id=4.4%20Explanation%20of%20Financial%20Statement%20Adjustments) Effective January 1, 2021, the company adopted new lease accounting standards, adjusting opening financial statements to include right-of-use assets and lease liabilities - The company adopted new lease accounting standards for the first time effective January 1, 2021, and made corresponding adjustments to the opening financial statements for the current period[83](index=83&type=chunk) Impact of New Lease Standards on Opening Consolidated Balance Sheet (Unit: Yuan) | Adjusted Item | Adjustment Amount | | :--- | :--- | | Right-of-Use Assets | +5,417,132.56 | | Prepayments | -129,000.00 | | Other Payables | +123,700.00 | | Lease Liabilities | +5,164,432.56 |

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]

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]

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 | --- | --- | --- | --- | --- | |-----------------------------------------------------|----------------------------------------------------------------|----------------------------- ...