Financial Performance - The company's operating revenue for the first half of 2018 was CNY 36,549,622, representing a 72.55% increase compared to CNY 21,181,924.90 in the same period last year[17]. - The net profit attributable to shareholders was a loss of CNY 3,857,109.95, which is a 51.42% improvement from a loss of CNY 7,939,860.85 in the previous year[17]. - The company achieved a main business revenue of 36,549,622.00 CNY, representing a year-on-year increase of 72.55% due to the growth in the trade division's revenue by approximately 1,047.98 million CNY[38]. - The company's net profit attributable to the parent company was -385.71 million CNY, a reduction in losses by 51.42% year-on-year[38]. - The company reported a significant increase in revenue from the central region, with a growth rate of 152.76% and a gross margin of 27.89%[45]. - The gross profit margin for automotive air conditioning sales was 22.90%, up from 10.87% in the previous year, driven by increased sales orders and decreased raw material costs[44]. - The net loss for the first half of 2018 was CNY 4,382,875.90, compared to a net loss of CNY 8,777,112.55 in the same period of 2017, indicating an improvement of approximately 50.1%[135]. - Basic and diluted earnings per share were both CNY -0.0091, an improvement from CNY -0.0187 in the previous year[135]. Cash Flow and Assets - The net cash flow from operating activities was a negative CNY 26,117,906.67, worsening by 22.29% compared to a negative CNY 21,357,560.11 in the same period last year[17]. - The total assets at the end of the reporting period were CNY 402,564,789.56, reflecting a 1.78% increase from CNY 395,522,663.69 at the end of the previous year[17]. - The total liabilities of the company were RMB 207,860,739.48, up from RMB 196,435,737.71, indicating an increase of approximately 6.8%[126]. - The company's current assets totaled RMB 384,085,411.89, compared to RMB 374,025,057.50 at the beginning of the period, reflecting a growth of approximately 2.84%[125]. - The cash and cash equivalents increased to RMB 155,751,734.53 from RMB 150,987,625.71, showing a rise of about 3.7%[124]. - The total cash inflow from investment activities is 251,455,157.87, significantly higher than 76,606,602.20 in the previous period[143]. - The ending balance of cash and cash equivalents was 65,000,067.47 CNY, a decrease from 246,532,886.20 CNY at the end of the previous period[147]. Business Operations and Strategy - The company has shifted its main manufacturing and sales activities to its subsidiaries, focusing on the production and sales of refrigeration and air conditioning equipment[25]. - The company is actively expanding its business scope, including real estate agency sales and commodity trading, with a contract signed for the Hailun Shijia real estate project[38]. - The company is focusing on diversifying its operations to seek new profit sources, including a contract for processing new energy vehicle battery raw materials with Yalong Technology[38]. - The company is enhancing its product quality control and expanding sales channels to improve brand competitiveness and market influence[37]. - The company plans to enhance market expansion efforts in automotive air conditioning, focusing on new projects like the evaporative air conditioning system from Zoomlion, which is expected to be a revenue and profit growth point in the second half of the year[65]. - The company aims to strengthen its core capabilities and build a competitive technology and product reserve, with a focus on cost control to improve product gross margins[65]. Subsidiaries and Investments - The company is undergoing liquidation and dissolution procedures for its subsidiary Shanghai Hengan Air Conditioning Equipment Co., Ltd., with some of its business being taken over by the parts company[26]. - The wholly-owned subsidiary, the trading company, was established in early 2018 and is expected to fully commence trade operations in the second half of 2018[38]. - Tianjin Hengsheng International Trade Co., Ltd. was established with an investment of CNY 50 million, holding 100% equity, and reported a loss of CNY 371,698.05 during the period[54]. - A contract for processing raw materials for new energy vehicle batteries was signed by the wholly-owned subsidiary, Yueyang Hengli Auto Parts Co., Ltd.[102]. Legal and Compliance Issues - There are ongoing significant litigation matters, including a loan dispute involving an amount of 1,160,000 yuan, with a favorable first-instance judgment for the company[74]. - The company won a lawsuit with a judgment amount of 1,205,800 yuan against a contract dispute[76]. - The company incurred litigation costs of 91,400 yuan during the reporting period[77]. - The company has not experienced any bankruptcy reorganization matters during the reporting period[73]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 18,138[108]. - The largest shareholder, China Huayang Investment Holding Co., Ltd., holds 17.99% of the shares, amounting to 76,496,653 shares[108]. - Shenzhen Aoshengxia Industrial Co., Ltd. holds 16.54% of the shares, totaling 70,350,000 shares, which are frozen[108]. - The company reported a total share count of 425,226,000 shares[106]. Financial Management and Reporting - The financial report for the first half of 2018 was not audited[122]. - The company operates under the accrual basis of accounting and adheres to the accounting standards set by the Ministry of Finance[174]. - The company’s financial reporting complies with the requirements of the accounting standards, reflecting its financial position and operating results accurately[177]. - The company has no significant doubts regarding its ability to continue as a going concern for the next 12 months[176]. Risks and Challenges - The company faces risks from policy and macroeconomic factors, including the slowdown in the new energy vehicle market and intensified international trade disputes[64]. - Intense competition in the automotive air conditioning market is leading to increased cost pressures from suppliers, further exacerbating industry competition[64]. - The company is exposed to customer concentration risk, relying heavily on major clients, which could adversely affect operations if demand decreases[64]. - Technical constraints in developing new business units in the automotive air conditioning sector may limit the company's growth and expansion opportunities[64].

Corporate Governance and Shareholder Structure - The company has maintained a structured corporate governance framework, ensuring clear responsibilities among shareholders, the board of directors, and management[147]. - The company has not reported any significant changes in its actual controller following the transfer of partnership interests among its major shareholder[151]. - The total number of shares before the change was 425,226,000, with 100% being unrestricted shares[159]. - There were no changes in the number of restricted shares, which remained at 0[159]. - The number of shareholders increased from 18,815 to 19,542 during the reporting period[161]. - The largest shareholder, China Huayang Investment Holdings, owns 17.99% of the shares, totaling 76,496,653 shares, which are currently pledged[162]. - Shenzhen Aoshengxia Industrial Co., Ltd. holds 16.54% of the shares, totaling 70,350,000 shares, which are frozen[162]. - China Great Wall Asset Management Co., Ltd. owns 7.30% of the shares, totaling 31,033,347 shares[162]. - The top ten unrestricted shareholders include four entities with significant holdings, totaling over 200 million shares combined[163]. - There were no repurchase transactions conducted by the top ten shareholders during the reporting period[163]. - The company did not issue any new shares or conduct any stock splits during the reporting period[160]. - The company reported no changes in the structure of assets and liabilities during the reporting period[160]. - The controlling shareholder is Shenzhen Aoshengxia Industrial Co., Ltd., established on June 3, 2010, with a focus on real estate development and economic information consulting[164]. - The actual controller is Li Rijing, a domestic natural person, who is also the actual controller of Shenzhen Qianhai Xin'anjiang Investment Enterprise (Limited Partnership)[165]. - There are no changes in the controlling shareholder or actual controller during the reporting period[166]. - China Huayang Investment Holdings Co., Ltd. holds over 10% of shares, established on February 4, 1989, with a registered capital of 30 million[167]. - The company does not have any preferred shares during the reporting period[170]. - There were no changes in the shareholding of directors, supervisors, and senior management during the reporting period[172]. - The company experienced a board member change on August 17, 2017, due to a re-election[174]. - The current chairman of Hengli Industrial Development Group Co., Ltd. is Mr. Ma Weijin, who has no shares in the company and has not faced any penalties from regulatory authorities[175]. - Mr. Lv Youbang, the president of the company, has a background in international business management and has not held any shares in the company[176]. - The company has a diverse board of directors with members having extensive experience in finance, law, and engineering, ensuring a well-rounded leadership team[177][180]. - Hengli Industrial has not faced any disciplinary actions from the China Securities Regulatory Commission or the Shenzhen Stock Exchange, indicating a clean compliance record[179]. - The company is actively involved in the development of new technologies and products, particularly in the engineering machinery sector, which is a key area of focus for future growth[178]. - Hengli Industrial is exploring market expansion opportunities, particularly in international markets, to enhance its competitive position[179]. - The company has a strategic focus on mergers and acquisitions to bolster its market presence and operational capabilities[180]. - Hengli Industrial's management team is committed to maintaining transparency and accountability, as evidenced by their adherence to regulatory requirements and corporate governance standards[181]. Financial Performance and Reporting - The company reported a registered capital of 42 million yuan at its establishment, with a share par value of 1.00 yuan[16]. - The company’s financial report is guaranteed to be true, accurate, and complete by its board of directors and management[3]. - The company’s annual report is disclosed in the Securities Times and is available on the designated website of the China Securities Regulatory Commission[15]. - The company's operating revenue for 2017 was ¥58,733,082.43, representing a 40.28% increase compared to ¥41,869,685.67 in 2016[19]. - The net profit attributable to shareholders for 2017 was -¥27,386,209.95, a decrease of 157.06% from ¥47,999,053.17 in 2016[19]. - The net cash flow from operating activities was -¥68,029,508.06, a significant increase of 2,133.75% compared to -¥3,045,534.91 in 2016[19]. - The total assets at the end of 2017 were ¥395,522,663.69, down 15.21% from ¥466,466,615.29 at the end of 2016[20]. - The basic earnings per share for 2017 was -¥0.0644, a decline of 157.04% from ¥0.1129 in 2016[20]. - The weighted average return on equity for 2017 was -14.58%, a decrease of 41.61% from 27.03% in 2016[20]. - The company’s net profit after deducting non-recurring gains and losses was -¥28,898,219.15, a 43.56% improvement from -¥51,205,542.73 in 2016[19]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB in 2017, representing a growth of 15% compared to 2016[111]. - The company provided a positive outlook for 2018, projecting a revenue growth of 20% year-over-year, aiming for 1.44 billion RMB[113]. - The company aims to achieve preliminary profitability for its new trade company in 2018, focusing on coal and steel trade operations[95]. - The company is committed to improving its financial management system to ensure fund safety and prevent negative practices[96]. - The company faces risks from a slowing automotive market, with growth predictions for 2018 expected to be below 5%[98]. - The company plans to strengthen its market expansion efforts and enhance its innovation capabilities to mitigate risks associated with customer concentration[100]. - The company will invest in upgrading its aging equipment, which is primarily from the 1990s, to remain competitive in the market[99]. - The company intends to recruit and train technical and sales personnel to address talent retention issues and improve operational efficiency[100]. - The company will focus on diversifying its customer base to reduce dependency on major clients and explore new business opportunities through its investment management and trade companies[100]. Operational Performance and Market Position - The company has faced various operational risks, which are discussed in the future development outlook section of the report[4]. - The company’s main business has not changed since its establishment in 1993[16]. - The company primarily operates on a made-to-order production model, with profits heavily reliant on the volume of orders from automotive manufacturers[32]. - The automotive air conditioning industry has entered a mature phase since 2003, with increasing raw material prices leading to declining profit levels[33]. - The company is positioned among the early entrants in the automotive air conditioning parts industry, with a potential to merge operations of its subsidiaries to enhance market standing[35]. - The company is developing new products for electric vehicles, including heat pump air conditioning systems, to meet evolving market demands[34]. - The company has faced challenges in maintaining profitability, with its main business still in a loss position despite a year-on-year increase in main operations[42]. - The automotive air conditioning industry is experiencing a transformation with the rise of new refrigerants and technologies, indicating potential future growth opportunities[34]. - The company achieved a main business revenue of 58,733,082.43 yuan in 2017, representing a year-on-year growth of 40.28%[51]. - Sales revenue from the East China region increased by 65.18% to 13,900,331.26 yuan, while the North China region saw a remarkable growth of 218.98%[51]. - The company sold 688,663 sets of automotive parts in 2017, a 25.80% increase from 547,408 sets in 2016[55]. - The gross profit margin for the automotive parts manufacturing industry was 14.21%, reflecting a significant increase in revenue and cost management[53]. - In 2017, the total revenue for the automotive parts manufacturing industry reached ¥49,218,522.92, a significant increase from ¥36,604,092.18 in 2016, reflecting a growth of 34.38%[56]. - The company is actively expanding its market presence and exploring new business avenues through the establishment of a trading company[43]. - The company is focusing on enhancing internal management and performance evaluation mechanisms to improve operational efficiency and employee motivation[46]. - The company has implemented a quality management system certified by ISO9001 and TS16949 to enhance product quality and operational efficiency[39]. - The company is exploring partnerships with technology firms to leverage new digital solutions, aiming to increase digital sales by 30% in 2018[111]. - The company has a strong emphasis on research and development, particularly in electrical and control equipment for engineering machinery, to drive innovation[177]. Investment and Subsidiary Activities - The company established a wholly-owned subsidiary, Hunan Hengli Investment Management Co., Ltd., in September 2017 to engage in treasury reverse repurchase investment activities[30]. - The company completed a 20% equity transfer of its associate, Yueyang Hengtong Industrial Co., Ltd., enhancing cash flow and focusing on core business development[31]. - The company established a wholly-owned subsidiary, Hunan Hengli Investment Management Co., Ltd., with a registered capital of RMB 50 million to explore new profit growth points[42]. - The company transferred 20% equity in its associate company, Yueyang Hengtong Industrial Co., Ltd., for RMB 58.202 million, resulting in zero remaining equity in that entity[44]. - The company divested 20% of its stake in Yueyang Hengtong Industrial Co., Ltd. for CNY 58.202 million to improve cash flow and focus on core business development[84]. - The revenue from Hunan Hengli Investment Management Co., Ltd. was CNY 266,413.65, with a net profit of CNY 19,300.93, indicating stable performance in project investment[84]. - The company has no significant non-equity investments during the reporting period[76]. - The company has no major guarantees or leasing arrangements in place during the reporting period[139][137]. - The company has no significant losses or impairments related to entrusted financial management during the reporting period[144]. - The company has no major contracts or leasing arrangements that significantly impact its profit during the reporting period[138]. - The company has no non-operating related party debts that affect its financial status[133]. - The company has no significant projects that contribute to over 10% of its total profit during the reporting period[138]. - The company reported no entrusted loans during the reporting period[145]. - The company has not conducted any targeted poverty alleviation work in the reporting year and has no subsequent plans[148]. - The company sold 80% of its subsidiary, Yueyang Hengtong Industrial Co., Ltd., to Changsha Fengze Real Estate Consulting Co., Ltd. for cash, receiving all transaction payments in advance[152]. - The company recognized an impairment loss of 1,401,895.34 yuan for fixed assets of its subsidiary, Yueyang Tongda Refrigeration and Air Conditioning Co., Ltd.[154]. - The company established a wholly-owned subsidiary, Hunan Hengli Investment Management Co., Ltd.[156]. - The company utilized idle funds for treasury bond reverse repurchase investments[156]. Legal and Compliance Matters - The company is involved in a loan dispute case with Guangdong Jieshang Investment Co., Ltd., with the principal amount of 10,000,000 yuan and interest of 1,600,000 yuan claimed[125]. - The court has ruled that Guangdong Jieshang Investment Co., Ltd. must repay the principal and interest within ten days of the judgment becoming effective[125]. - The company has incurred legal fees of 91,400 yuan related to this case, which will be borne by the defendants[126]. - The company has filed an appeal against the first-instance judgment in the Shanghai Second Intermediate People's Court[126]. - There are no penalties or rectifications reported during the reporting period[128]. - The company has not implemented any stock incentive plans or employee shareholding plans during the reporting period[129]. - There were no related party transactions concerning daily operations during the reporting period[130]. - The company did not engage in any asset or equity acquisitions or sales during the reporting period[131]. - There were no joint external investment related transactions during the reporting period[132]. - The company has non-operating related party receivables totaling 309.3 million CNY from Shanghai Hengan Air Conditioning Equipment Co., Ltd. and 88.74 million CNY from Yueyang Hengwang Real Estate Development Co., Ltd. at the end of the period[133]. - The company has a total of 733.49 million CNY in receivables from Yueyang Hengli Automotive Parts Co., Ltd., which is a wholly-owned subsidiary, for operational support[133]. - The company reported a total of 20 million CNY in entrusted financial management, with an outstanding balance of 10 million CNY at the end of the period[141]. - The company has no significant related party transactions during the reporting period[134]. - The company has no major guarantees or leasing arrangements in place during the reporting period[139][137]. - The company has a related party payable of 13.6 million CNY to Shanghai Group Co., Ltd. at the end of the period[133]. - The company has no significant losses or impairments related to entrusted financial management during the reporting period[144]. - The company has no major contracts or leasing arrangements that significantly impact its profit during the reporting period[138]. - The company has no non-operating related party debts that affect its financial status[133]. - The company has no significant projects that contribute to over 10% of its total profit during the reporting period[138]. - The company reported no entrusted loans during the reporting period[145]. Future Outlook and Strategic Initiatives - The company plans not to distribute cash dividends, issue bonus shares, or increase capital using reserves[5]. - The company is actively exploring new projects and investment opportunities to diversify its operations and mitigate risks associated with single business reliance[92]. - The company plans to enhance its product R&D capabilities, focusing on air conditioning systems for various vehicle types, including new energy buses and trucks[93]. - A strategic acquisition of a local competitor is in progress, expected to enhance market capabilities and increase revenue by an estimated 5% annually[112]. - The company has committed to improving operational efficiency, aiming to reduce costs by 8% through process optimization in 2018[113]. - Customer satisfaction ratings improved to 90%, reflecting a 5% increase from the previous year, indicating successful service enhancements[114]. - A focus on sustainability initiatives has been established, with a goal to reduce carbon emissions by 15% over the next three years[112]. - The company plans to increase investment in air conditioning systems for new energy vehicles while maintaining its traditional automotive air conditioning business[92]. - The automotive air conditioning market is expected to expand by at least 50% due to the growing application of electronic and battery technologies in vehicles[91].

恒立实业发展集团股份有限公司 2018 年第一季度报告正文 证券代码：000622 证券简称：恒立实业 公告编号：2018-14 恒立实业发展集团股份有限公司 2018 年第一季度报告正文 1 恒立实业发展集团股份有限公司 2018 年第一季度报告正文 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。 公司负责人马伟进、主管会计工作负责人叶华及会计机构负责人(会计主管 人员)程建声明：保证季度报告中财务报表的真实、准确、完整。 2 除下列董事外，其他董事亲自出席了审议本次季报的董事会会议 未亲自出席董事姓名 未亲自出席董事职务 未亲自出席会议原因 被委托人姓名 施梁 董事 因工作原因出差在外 吕友帮 鲁小平 董事 因工作原因出差在外 马伟进 蒋哲虎 董事 因工作原因出差在外 马伟进 恒立实业发展集团股份有限公司 2018 年第一季度报告正文 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 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告 ...

Financial Performance - Operating revenue for the reporting period was CNY 14,054,667.83, an increase of 29.18% year-on-year[7] - Net profit attributable to shareholders was CNY -3,921,304.33, a decrease of 51.58% compared to the same period last year[7] - Basic earnings per share were CNY -0.0092, down 51.58% year-on-year[7] - The weighted average return on net assets was -2.05%, a decrease of 61.10% compared to the previous year[7] - The company reported a significant increase in revenue for Q3 2017, reaching approximately 1.2 billion RMB, representing a year-over-year growth of 15%[21] - The company reported a significant increase in revenue for Q3 2017, with a year-over-year growth of 15%[25] - The company reported a total comprehensive loss of CNY -5,498,629.10, compared to CNY -9,828,970.60 in the prior year[49] - Net profit for the period was CNY -5,498,629.10, compared to CNY -9,828,970.60 in the same period last year[48] - The net profit attributable to shareholders of the parent company was CNY -3,921,304.33, improving from CNY -8,098,906.27 year-over-year[48] - Total operating revenue for the current period reached ¥35,236,592.73, compared to ¥29,168,835.75 in the previous period, marking an increase of approximately 20.8%[54] - Operating profit for the current period was reported at -¥15,023,706.92, an improvement from -¥22,518,685.88 in the previous period, reflecting a reduction in losses of approximately 33.3%[56] - Net profit for the current period was -¥14,275,741.65, compared to -¥22,048,101.37 in the previous period, showing a decrease in losses of about 35.2%[56] Cash Flow and Assets - Total assets at the end of the reporting period were CNY 403,484,918.57, a decrease of 13.50% compared to the end of the previous year[7] - The net cash flow from operating activities was CNY -26,714,805.44, an increase of 56.76% year-to-date[7] - The net cash flow from operating activities decreased by 967.35 million yuan, a 56.76% decline, mainly due to increased sales and procurement costs[15] - Cash flow from operating activities generated a net outflow of -¥26,714,805.44, worsening from -¥17,041,331.30 in the previous period[63] - The total cash inflow from operating activities was 13,713,733.61 CNY, while cash outflow was 30,551,639.28 CNY, leading to a negative cash flow from operations[65] - The cash paid to employees was 5,138,644.89 CNY, significantly lower than 10,664,480.55 CNY in the previous period, indicating cost-cutting measures[65] - The ending balance of cash and cash equivalents was 199,661,398.01 CNY, up from 66,936,808.87 CNY in the previous period[66] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 20,489[10] - The largest shareholder, China Huayang Investment Holdings Co., Ltd., held 17.99% of the shares[10] - The company is committed to fulfilling all prior commitments related to asset restructuring, with no overdue obligations reported[22] - The company has committed to maintaining its shareholder promises, ensuring transparency and accountability in its operations[25] Investments and Acquisitions - The company completed the transfer of a 20% stake in its subsidiary, Hengtong Industrial, for 58.202 million yuan, with the transaction approved at the shareholder meeting[19] - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 300 million RMB allocated for potential deals[21] - The company is in the process of establishing an investment company, with updates expected in the near future[40] Market and Product Development - There were no significant new product developments or market expansions reported during this period[13] - New product launches are expected to contribute an additional 200 million RMB in revenue in the next quarter[21] - Market expansion plans include entering two new provinces, which are projected to increase market share by 5%[21] - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by the end of 2018[29] - Research and development expenses increased by 30% in Q3 2017, focusing on innovative technologies and product enhancements[30] Financial Position - The company's total liabilities decreased to CNY 204,256,454.91 from CNY 252,962,409.98, indicating a reduction in financial obligations[41] - The total equity attributable to shareholders decreased to CNY 189,709,914.77 from CNY 201,571,079.95, a decline of approximately 5.9%[42] - The company's inventory decreased slightly to CNY 23,645,212.32 from CNY 23,994,422.76, a decline of about 1.45%[39] - The company's financial expenses decreased by 37.27%, amounting to -131.95 million yuan, primarily due to the previous period's interest accrual on other receivables[14] User and Market Data - User data showed an increase in active users by 25% compared to the previous quarter, reaching 5 million active users[21] - User data showed an increase in active users by 20% compared to the previous quarter, reaching a total of 1.2 million active users[26] - The company provided a positive outlook for Q4 2017, projecting a revenue growth of 10% to 12%[21] - The company provided a positive outlook for the next quarter, projecting a revenue increase of 10% to 12%[27] Compliance and Governance - The board of directors has been re-elected, ensuring continuity in strategic direction and governance[21] - There were no violations regarding external guarantees during the reporting period[33] - The company reported no involvement in securities or derivative investments during the reporting period[30] - The report for the third quarter was not audited[67]

Financial Performance - The company's operating revenue for the first half of 2017 was ¥21,181,924.90, representing a 15.82% increase compared to ¥18,288,588.96 in the same period last year[18]. - The net profit attributable to shareholders was -¥7,939,860.85, a 26.91% improvement from -¥10,863,583.92 year-on-year[18]. - The basic earnings per share for the reporting period were -¥0.0187, a 26.67% improvement from -¥0.0255 in the same period last year[18]. - The company reported a net loss of CNY 8,777,112.55 for the first half of 2017, compared to a net loss of CNY 12,219,130.77 in the same period of 2016, indicating a reduction in losses of approximately 28.5%[130]. - The total profit for the first half of 2017 was CNY -8,438,293.43, compared to CNY -12,219,130.77 in the previous year, reflecting a significant reduction in losses[129]. - The company recorded operating profit of CNY -9,525,077.82, an improvement from CNY -12,806,605.57 in the same period last year[129]. - The company’s management expenses decreased to CNY 10,524,318.40 from CNY 13,826,480.82, a decline of approximately 23.4%[129]. - The company reported a significant increase in cash flow from investment activities, indicating a strategic focus on asset management and divestitures[140]. Assets and Liabilities - The total assets at the end of the reporting period were ¥406,185,544.05, down 12.92% from ¥466,466,615.29 at the end of the previous year[18]. - The company’s fixed assets decreased to 22,294,854.24 yuan, down 8.97% from 41,573,111.11 yuan due to the disposal of properties in the headquarters[45]. - The company’s accounts receivable stood at 18,440,681.37 yuan, representing 4.54% of total assets, a decline of 2.11% from the previous year[45]. - The company’s inventory was reported at 23,134,372.18 yuan, accounting for 5.70% of total assets, a decrease of 1.67% compared to the previous year[45]. - Total current assets decreased from CNY 382,693,959.51 to CNY 323,483,863.96, a decline of approximately 15.5%[120]. - Total liabilities decreased from CNY 252,962,409.98 to CNY 201,458,451.29, a decline of about 20.3%[121]. - The company's total equity decreased from CNY 213,504,205.31 to CNY 204,727,092.76, a decline of about 4.0%[122]. Investment and Cash Flow - The net cash flow from operating activities was -¥21,357,560.11, a significant decline of 571.66% compared to ¥4,528,135.44 in the previous year[18]. - Cash flow from investment activities increased by 59.22% to 74,977,768.18 CNY, primarily due to the transfer of equity stakes[38]. - The net cash flow from investment activities was 75,578,728.44 yuan, compared to 50,511,721.36 yuan previously, indicating strong investment returns[140]. - The ending balance of cash and cash equivalents was 246,532,886.20 yuan, significantly higher than 77,850,765.56 yuan at the end of the previous period[140]. Business Development and Strategy - The company developed the K12 product and began bulk supply, while the electric compressor project has completed testing and comparison[26]. - The company is currently working on the R&D of a new energy battery cooling project[26]. - The company plans to focus on expanding its market presence and enhancing sales channels, as current order volumes are not optimistic[27]. - The company is actively exploring new business elements and improving profitability through various operational strategies[34]. - The company is diversifying its development strategy to reduce reliance on major customers and mitigate risks from customer concentration[58]. Governance and Compliance - The company has established a modern corporate governance structure to enhance operational efficiency and management standards[31]. - The company guarantees that its financial statements are true, accurate, and complete, and it will bear legal responsibility for any misleading statements or omissions[69]. - The company has committed to maintaining the legal rights of all shareholders and will not engage in unfair practices that could harm the company’s interests[71]. - There were no major related party transactions or non-operating fund occupation by controlling shareholders during the reporting period, reflecting good governance practices[85]. Risks and Challenges - The company faced risks from industry slowdown, increased market competition, and reliance on major customers, which could adversely affect its operations[55][56]. - The overall financial health of the company suggests a cautious approach to future investments and potential market expansions[150]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 20,826[105]. - The largest shareholder, China Huayang Investment Holding Co., holds 17.99% of the shares, totaling 76,496,653 shares[105]. - The total number of shares with unlimited sale conditions is 425,226,000, representing 100% of the total shares[103]. Financial Reporting - The company’s financial report for the first half of 2017 was approved by the board of directors on August 24, 2017[160]. - The company’s half-year financial report has not been audited, which may affect the perception of financial reliability[74]. - The company confirmed that all commitments made to minority shareholders have been fulfilled in a timely manner[73].

第一节 重要提示 恒立实业发展集团股份有限公司 2017 年第一季度报告正文 证券代码：000622 证券简称：*ST 恒立 公告编号：2017-26 恒立实业发展集团股份有限公司 2017 年第一季度报告正文 1 恒立实业发展集团股份有限公司 2017 年第一季度报告正文 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。 公司负责人马伟进、主管会计工作负责人叶华及会计机构负责人(会计主管 人员)程建声明：保证季度报告中财务报表的真实、准确、完整。 2 恒立实业发展集团股份有限公司 2017 年第一季度报告正文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否因会计政策变更及会计差错更正等追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 8,237,564.43 | 8,647,778.75 | -4.74% | | ...

Corporate Governance and Shareholder Structure - The company plans not to distribute cash dividends, issue bonus shares, or convert reserves into share capital[5] - The company reported a registered capital of 42 million RMB, with a par value of 1.00 RMB per share, totaling 42 million shares[16] - The company has undergone several changes in its major shareholders, with the latest being the transfer of 30 million shares (21.17% of total shares) to Shenzhen Aoshengxia Industrial Co., Ltd[16] - The company’s stock is listed on the Shenzhen Stock Exchange under the ticker *ST Hengli (000622)[13] - The company’s registered address is located at No. 9, Youth Middle Road, Yueyang, Hunan Province, with a postal code of 414000[13] - The company’s financial report is guaranteed to be true, accurate, and complete by its board of directors and senior management[3] - The company has not reported any changes in its main business since its establishment in 1993[16] - The company emphasizes the importance of investor awareness regarding potential risks associated with future plans and strategies[4] - The company’s website is http://www.hlsyfzjt.com, providing further information and disclosures[13] - The company’s annual report is published in the Securities Times and is available on the designated website of the China Securities Regulatory Commission[15] - The company has completed commitments related to shareholding restrictions and has fulfilled its obligations under the equity division reform[103] - The company has engaged in discussions regarding the lifting of restrictions on the sale of shares held by major shareholders, indicating potential future liquidity events[98] - The company has undergone a share reform plan approved on November 21, 2012, which was implemented on January 14, 2013[152] - The company’s shareholding structure shows that the largest shareholder, China Huayang Investment Holding Co., holds 17.99% of the shares[156] - Shenzhen Aoshengxia Industrial Co., Ltd. holds 16.54% of the shares, which are currently frozen[156] - The company has no other listed companies in which the controlling shareholder holds shares[159] - The company has not undergone any changes in its controlling shareholder during the reporting period[159] - The company has no major guarantees during the reporting period[135] - The company has no stock incentive plans or employee stock ownership plans in place during the reporting period[126] - The company has no related party transactions during the reporting period[127] - The company has maintained a structured corporate governance framework, ensuring clear responsibilities among shareholders, the board of directors, and management[141] - The company has established a governance structure with a clear division of responsibilities among the shareholders, board of directors, supervisory board, and management team[187] - The company has implemented a salary policy that includes base salary, performance bonuses, and other benefits for employees[183] - The company has no labor outsourcing arrangements[185] - The company has maintained compliance with relevant laws and regulations regarding corporate governance and internal control systems[187] - The company emphasizes the importance of a well-functioning board of directors, which has become an efficient decision-making body with members possessing strong professional backgrounds and rich experience[188] - Independent directors play a crucial role in company decisions, providing valuable insights on financial audits, major related transactions, and executive appointments[189] - The company maintains independence from its controlling shareholder in terms of business, personnel, assets, institutions, and finances, ensuring autonomous operational capabilities[190] - The company has undergone changes in its supervisory board, with the appointment of new independent directors to strengthen governance[168][172] - The company has not reported any penalties or disciplinary actions from regulatory bodies against its current executives, ensuring a stable governance structure[171][172][173] Financial Performance and Revenue - The company's operating revenue for 2016 was CNY 41,869,685.67, a decrease of 11.00% compared to CNY 47,042,013.31 in 2015[19] - The net profit attributable to shareholders in 2016 was CNY 47,999,053.17, representing a significant increase of 202.53% from a loss of CNY 46,815,739.26 in 2015[19] - The net cash flow from operating activities improved by 89.27%, reaching CNY -3,045,534.91 in 2016 compared to CNY -28,376,350.61 in 2015[19] - The total assets of the company increased by 52.35% to CNY 466,466,615.29 at the end of 2016, up from CNY 306,177,034.20 at the end of 2015[20] - The basic earnings per share for 2016 was CNY 0.1129, a turnaround from a loss of CNY -0.1101 in 2015[19] - The company’s weighted average return on equity was 27.03% in 2016, a significant recovery from -26.45% in 2015[20] - The company achieved a net profit of CNY 66,961,543.36 in Q4 2016, primarily due to the transfer of 80% equity in Yueyang Hengtong Industrial Co., Ltd., resulting in investment income[24] - The company reported non-recurring gains of CNY 99,204,595.90, primarily from the transfer of equity stakes, which significantly impacted its financial performance[28] - The company successfully turned a profit during the reporting period due to the sale of 80% of its subsidiary, Yueyang Hengtong Industrial Co., Ltd., resulting in a significant investment gain[32] - The company’s main operating model includes self-sourcing materials, with production primarily driven by orders from automotive manufacturers, indicating that profit margins are highly dependent on order volumes[33] - The automotive air conditioning industry is closely tied to the automotive sector, which has seen a slowdown in growth, impacting the company's market orders and profitability[34] - The company’s main business revenue for 2016 was 39.82 million, a decrease of 14.50% compared to 2015[46] - The net profit attributable to the parent company reached 47.99 million, an increase of 202.53% year-on-year[45] - Management expenses decreased by 35.83% to 36.35 million, primarily due to the absence of relocation costs from the previous year[47] - Investment income surged to 100.54 million, an increase of approximately 7968.12%, mainly from the sale of 80% equity in a subsidiary[48] - The total assets of the company as of December 31, 2016, were 46.65 million, with net assets attributable to the parent company at 201.57 million[45] - The company's operating costs decreased by 16.80% to 36.60 million, reflecting improved cost management[46] - The gross profit margin for the automotive parts manufacturing sector was 8.07%, with a year-on-year increase of 45.81%[52] - The company reported a significant increase in operating cash inflow by 76.95%, totaling CNY 79,750,137.55, compared to CNY 45,069,282.14 in the previous year[65] - The company reported a net profit loss of 10.16 million yuan from its subsidiary Shanghai Hengan Air Conditioning Equipment Co., Ltd. for the reporting period[86] - The company aims to enhance operational efficiency and management effectiveness to improve its financial performance in 2017[87] - The automotive market in China reached a production and sales volume of 25.03 million and 24.95 million vehicles respectively by November 2016, with a projected compound growth rate of 5% over the next five years[89] - The automotive parts sales revenue in China for 2016 is projected to reach 298.26 billion yuan, with a growth rate of 19%[89] Market Strategy and Product Development - The company developed new products, including the K12 product and an electric compressor project, which are now in mass production[30] - The company is actively expanding its market presence in the automotive air conditioning sector and has established supply relationships with major clients[30] - The company aims to expand its market share by leveraging its production scale, technological innovation, and brand influence[35] - The company is actively exploring new markets and sales channels to improve its order scale and profitability[33] - The company has maintained stable supply and support for major clients, ensuring continued business operations despite market challenges[44] - The company has developed new products, including the K12 product and electric compressor projects, while also working on a new energy battery cooling project[44] - The company is planning to invest the proceeds from the equity sale into traditional automotive air conditioning business and new energy vehicle air conditioning and parts[81] - The company plans to increase investment in air conditioning and related components for new energy vehicles while stabilizing its traditional automotive air conditioning business[91] - The company aims to enhance its competitive edge by updating equipment and introducing new talent, addressing issues of aging personnel and outdated equipment[91] - The company is diversifying its strategy by exploring new customers and markets to mitigate risks associated with customer concentration and reliance on major clients[96] - The company is committed to increasing R&D investment and technological innovation to improve product development capabilities, particularly in truck and new energy bus air conditioning systems[91] - The company is focusing on enhancing its quality management system and cost control measures to solidify its brand foundation[92] - The company has established new partnerships with key distributors, aiming to increase distribution efficiency by 20%[108] - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25% based on new product launches and market expansion strategies[109] - New product development includes the launch of three innovative products expected to contribute an additional 300 million RMB in revenue[110] - A strategic acquisition of a local competitor is in progress, which is expected to enhance the company's market position and increase overall revenue by 5%[110] Risk Management and Compliance - The company emphasizes the importance of accurate financial reporting to avoid potential legal liabilities and ensure sustainable operations[198] - The company faces risks from industry slowdown and environmental pressures, which may impact automotive market growth[94] - The company has no non-operating fund occupation by controlling shareholders or their affiliates during the reporting period[116] - There were no changes in accounting policies, estimates, or methods during the reporting period compared to the previous year[117] - The company has not experienced any major accounting errors that require retrospective restatement during the reporting period[118] - The company has engaged a new auditing firm, Beijing Yongtuo Accounting Firm, for the 2016 annual audit after the previous firm, Asia-Pacific (Group) CPA, suggested a change due to resource constraints[121] - The internal control audit report confirmed the applicability of the internal control framework[200] - The company aims to maintain high standards of governance and operational efficiency through effective internal controls[198] - The supervisory board found no risks during its oversight activities in the reporting period[196] - There were no significant internal control deficiencies identified during the reporting period[197] - The total assets of the evaluated units accounted for 100.00% of the company's consolidated financial statements[198] - The total revenue of the evaluated units also represented 100.00% of the company's consolidated financial statements[198] - There were no significant defects identified in financial reporting, with the number of major defects being 0[199] - The number of important defects in financial reporting was also 0, indicating a strong internal control environment[199] - The company has established quantitative standards for defect identification, with major defects defined as errors exceeding 1% of total assets[198] Employee and Management Structure - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 3.1867 million[180] - The company employed a total of 138 staff members, with 64 in production, 4 in sales, 5 in technical roles, 8 in finance, and 57 in administration[181] - The educational background of employees includes 4 with master's degrees, 15 with bachelor's degrees, 24 with associate degrees, and 95 with high school or lower education[182] - The company has no retired employees requiring pension expenses[181] - The company has a training plan to enhance employee skills and overall efficiency, developed annually based on departmental needs[184] - The current management team includes experienced professionals with backgrounds in law enforcement, sports management, and finance, enhancing the company's operational capabilities[169][170][171] - The management team is composed of individuals with diverse expertise, including economics, law, and engineering, which may contribute to strategic decision-making[170][171][172] - The company has maintained a clean record with no ownership stakes held by its executives, which may reflect a commitment to shareholder interests[171][172] - The company has not reported any penalties or disciplinary actions from regulatory bodies against its current executives, ensuring a stable governance structure[171][172][173] Legal and Regulatory Matters - The company is currently in a legal dispute regarding a 10 million CNY investment with Guangdong Jieshang Investment Co., Ltd., which has not repaid the principal and interest as per the agreement[147] - There were no significant lawsuits or arbitration matters during the reporting period[124] - The company did not experience any penalties or rectification situations during the reporting period[125] - The company has not disposed of any significant assets during the reporting period[78] - The company has not proposed any cash dividend distribution plan for the reporting period, despite having a positive profit available for distribution to ordinary shareholders[102] - The company has not realized any revenue from the subsidiary Hengtong Industrial since its establishment, indicating no impact on the company's main business revenue[146] - The company has not disclosed any major undisclosed information during the reporting period, ensuring compliance with regulatory requirements[98]

Financial Performance - Operating revenue for the current period was CNY 10,880,246.79, a decrease of 26.10% year-on-year[8] - Net profit attributable to shareholders was a loss of CNY 8,098,906.27, an increase of 8.15% compared to the same period last year[8] - Basic earnings per share were -CNY 0.0190, an increase of 7.95% year-on-year[8] - The weighted average return on net assets was -5.27%, a decrease of 38.32% compared to the same period last year[8] - Operating revenue decreased by 30.08% to 29.17 million from 41.72 million, mainly due to a reduction in sales orders from subsidiaries[15] - Operating costs fell by 33.65% to 26.86 million from 40.49 million, attributed to the same reduction in sales orders[15] - Financial expenses increased by 60.95% to -2.10 million from -1.31 million, primarily due to interest accrued on other receivables by subsidiaries[15] - Asset impairment losses surged by 4773.04% to 1.44 million from 0.03 million, mainly due to provisions for bad debts on receivables by subsidiaries[15] - Investment income decreased by 77.68% to 0.22 million from 1.00 million, primarily due to the recovery of the aforementioned financial product's income[15] - The company reported a 30.45% decrease in cash received from operating activities, totaling 115.58 million compared to 166.19 million, due to reduced sales orders[17] Assets and Shareholder Information - Total assets decreased by 7.82% to CNY 282,226,156.36 compared to the end of the previous year[8] - Net assets attributable to shareholders decreased by 12.35% to CNY 134,609,536.59 compared to the end of the previous year[8] - The total number of ordinary shareholders at the end of the reporting period was 20,013[11] - The largest shareholder, China Huayang Investment Holdings, held 17.99% of the shares, totaling 76,496,653 shares[11] Cash Flow and Investments - The net cash flow from operating activities for the year-to-date was -CNY 17,041,331.30, an increase of 29.97% compared to the same period last year[8] - The company received cash from investment recovery amounting to 50 million, reflecting a net increase due to the recovery of the bank financial product[17] - The company's cash and cash equivalents increased by 101.70% to 96.64 million from 47.91 million, primarily due to the recovery of a 50 million bank principal-protected financial product purchased in November 2015[15] Corporate Actions - The company did not engage in any repurchase transactions during the reporting period[12] - The company has no significant securities or derivative investments during the reporting period[22][23] - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[26]

Financial Performance - The company's operating revenue for the first half of 2016 was ¥18,288,588.96, a decrease of 32.25% compared to ¥26,994,188.64 in the same period last year[21]. - The net profit attributable to shareholders was -¥10,863,583.92, improving by 28.82% from -¥15,262,188.18 year-on-year[21]. - The net cash flow from operating activities was ¥4,528,135.44, a significant turnaround from -¥12,190,730.81 in the previous year, representing a 137.14% increase[21]. - The company's main business revenue for the reporting period was ¥18,288,588.96, a decrease of 32.25% year-on-year due to reduced orders and declining sales[30]. - The net profit attributable to the parent company was -¥10,863,583.92, a reduction in loss of 28.82% compared to the previous year[30]. - The company reported a net loss of ¥-466,705,481.40, compared to a net loss of ¥-455,841,897.48 in the previous period[112]. - The company reported an operating profit of CNY -12,806,605.57 for the first half of 2016, compared to CNY -17,669,149.75 in the previous year, indicating a reduction in losses of approximately 27.5%[119]. - The total comprehensive income for the period decreased by 15,262,000, with a loss of 1,534,000 attributed to minority interests, resulting in a total loss of 16,796,000[136]. Assets and Liabilities - Total assets at the end of the reporting period were ¥287,535,119.46, down 6.09% from ¥306,177,034.20 at the end of the previous year[21]. - The net assets attributable to shareholders decreased by 7.07%, from ¥153,572,026.78 to ¥142,708,442.86[21]. - Total liabilities decreased by 4.71% to CNY 129.82 million, compared to CNY 136.25 million at the end of 2015[92]. - The company's total equity decreased to ¥157,711,052.73 from ¥169,930,183.50, a decline of approximately 7.2%[112]. - The total current liabilities amounted to CNY 83,342,265.17, a slight decrease from CNY 86,380,086.51 in the previous year, indicating a reduction of about 3.8%[116]. Cash Flow - The total cash inflow from operating activities was CNY 43,536,834.18, an increase from CNY 29,568,427.10 in the previous period, representing a growth of approximately 47%[126]. - The cash inflow from investment activities amounted to CNY 50,521,093.15, with a net cash flow of CNY 47,089,814.39, compared to a negative cash flow of CNY -52,503,112.42 in the previous period[127]. - The total cash and cash equivalents at the end of the period reached CNY 99,530,613.94, up from CNY 59,298,302.79 at the end of the previous period, indicating a significant increase of approximately 68%[128]. - The company achieved a net increase in cash and cash equivalents of CNY 51,617,949.83, recovering from a decrease of CNY -78,693,843.23 in the previous period[128]. Shareholder Information - A total of 142,235,353 shares, accounting for 33.45% of the total share capital, were released from restrictions on February 15, 2016[90]. - The total number of ordinary shareholders at the end of the reporting period was 22,302[95]. - The largest shareholder, China Huayang Investment Holding Co., Ltd., held 17.99% of shares, totaling 76,496,653 shares[95]. - The second-largest shareholder, Shenzhen Aoshengxia Industrial Co., Ltd., held 16.54% of shares, totaling 70,350,000 shares[95]. Corporate Governance and Strategy - The company has undergone changes in its board of directors to strengthen corporate governance following the departure of several members[28]. - The board of directors is actively working on diversifying operations and developing new products to enhance profitability[28]. - The company plans to focus on expanding its market presence and enhancing product development in the upcoming quarters[136]. Investment and Research - Research and development investment was ¥306,514.55, down 7.10% from the previous year[32]. - The company aims to stabilize the air conditioning system for cranes while accelerating the development of truck air conditioning systems and new energy bus air compressor units[37]. - The company is actively seeking new profit growth points through capital operations and project introductions[38]. Compliance and Auditing - The company’s half-year financial report was not audited[83]. - The financial statements are prepared based on the accrual basis of accounting, in accordance with the accounting standards issued by the Ministry of Finance[152]. - The company confirmed that there are no significant doubts regarding its ability to continue as a going concern for the next 12 months[153]. Miscellaneous - The company did not distribute cash dividends or issue bonus shares for this period[6]. - There were no major litigation or arbitration matters during the reporting period[61]. - The company did not engage in any asset acquisitions or sales related party transactions during the reporting period[69].

Financial Performance - Revenue for the first quarter was ¥8,647,778.75, a decrease of 38.61% compared to ¥14,086,092.72 in the same period last year[8] - Net profit attributable to shareholders was -¥3,862,134.13, improving by 39.40% from -¥6,374,065.19 year-on-year[8] - Basic and diluted earnings per share were both -¥0.009, showing a 40.00% improvement from -¥0.015 in the same period last year[8] - Operating revenue decreased by 38.61% to ¥864.78 million from ¥1,408.61 million, mainly due to a reduction in orders and sales decline[15] - Operating costs fell by 42.73% to ¥768.01 million from ¥1,340.93 million, attributed to the same reasons as the revenue decline[15] - Sales expenses decreased by 69.75% to ¥43.37 million from ¥143.38 million, reflecting the decrease in orders and sales[15] - Cash received from sales of goods and services dropped by 47.63% to ¥778.97 million from ¥1,487.36 million, due to reduced orders[15] - Cash paid for taxes decreased by 41.33% to ¥148.65 million from ¥253.38 million, as there were no prior overdue tax payments in the current period[15] Assets and Shareholder Information - Total assets at the end of the reporting period were ¥296,889,194.36, down 3.03% from ¥306,177,034.20 at the end of the previous year[8] - Net assets attributable to shareholders decreased by 2.51% to ¥149,709,892.65 from ¥153,572,026.78 at the end of the previous year[8] - The total number of ordinary shareholders at the end of the reporting period was 23,732[11] - The largest shareholder, China Huayang Investment Holdings Co., Ltd., held 17.99% of shares, totaling 76,496,653 shares[11] - Shenzhen Aoshengxia Industrial Co., Ltd. was the second-largest shareholder with a 16.54% stake, amounting to 70,350,000 shares[11] Cash Flow and Investments - Net cash flow from operating activities was -¥7,804,696.80, a slight increase of 1.60% compared to -¥7,681,680.88 in the previous year[8] - Cash and cash equivalents increased by 85.03% to ¥88,652.7 from ¥47,912.7, primarily due to the recovery of principal from investment bank guaranteed financial products[15] - Investment income increased significantly to ¥22.35 million from no prior income, mainly from returns on investment bank guaranteed financial products[15] - Cash recovered from investments was ¥5,000 million, marking a full increase due to the recovery of principal from bank guaranteed financial products[15] Corporate Actions and Compliance - The company did not engage in any repurchase transactions during the reporting period[12] - The company is in the process of planning a non-public issuance of A-shares[16] - There were no violations regarding external guarantees or non-operating fund occupation by controlling shareholders during the reporting period[23][24]