Financial Performance - The company's operating revenue for 2017 was ¥5,448,916,378.34, representing a 14.54% increase compared to ¥4,757,326,623.69 in 2016[17] - The net profit attributable to shareholders was a loss of ¥230,152,697.18, a decline of 548.20% from a profit of ¥51,350,674.31 in 2016[17] - The net cash flow from operating activities improved to ¥249,401,357.61, compared to a negative cash flow of ¥1,256,344,896.82 in 2016[17] - The total assets decreased by 12.11% to ¥7,978,811,617.60 at the end of 2017, down from ¥9,078,413,495.82 at the end of 2016[17] - The net assets attributable to shareholders decreased by 17.32% to ¥1,091,566,760.45 from ¥1,320,244,909.95 in 2016[17] - The basic earnings per share were -¥0.33, a decrease of 571.43% from ¥0.07 in 2016[17] - The weighted average return on equity was -19.10%, down from 3.96% in 2016, indicating a significant decline in profitability[17] Dividends and Shareholder Returns - The company plans not to distribute cash dividends or issue bonus shares for the year[6] - The company reported a net profit of -230,152,697.18 CNY for 2017, with no cash dividends distributed, resulting in a 0.00% dividend payout ratio[98] - The company plans not to distribute cash dividends or increase capital reserves for the fiscal year 2017, pending shareholder approval[96] Sales and Market Performance - In 2017, the company achieved a total revenue of 5.4 billion yuan, representing a year-on-year increase of 14.54%, but a decrease of 18.25% after adjusting for new energy subsidies[33] - The company sold 8,717 buses in 2017, a 14% decline compared to the previous year, maintaining a market share of 4.67% in the over 6-meter bus segment, ranking 7th in the industry[33] - The sales volume of buses decreased by 13.96% to 8,717 units in 2017, down from 10,131 units in 2016[51] - The company exported 1,370 buses in 2017, significantly increasing its international business and ranking 5th in the export industry[34] Product Development and Innovation - The company completed the development of 15 new products and nearly 300 order-demand developments in 2017, enhancing its product line and market competitiveness[36] - The company launched China's first autonomous driving smart bus, which successfully operated on open roads, gaining widespread attention[35] - The company achieved significant breakthroughs in new technology research, including the development of hydrogen fuel buses and the fourth-generation ISG plug-in hybrid system[36] Cost Management and Financial Health - The cost of raw materials decreased by 13.46% from 5,238,710,197.14 CNY in 2016 to 4,533,554,344.68 CNY in 2017, representing 92.82% of total operating costs[55] - The company completed cost estimation for 15 new products in 2017, achieving good cost control results[39] - The company’s total sales expenses decreased by 36.55% from 439,488,297.34 CNY in 2016 to 278,835,669.17 CNY in 2017[60] Cash Flow and Financing Activities - The operating cash flow for Q2 2017 was 1.05 billion yuan, indicating a strong recovery in cash flow management during that period[21] - Cash received from sales and services increased by 49.26% to CNY 4.17 billion, primarily due to increased payments and new energy subsidies[64] - The net cash flow from investment activities was -CNY 112.69 million, a decrease of 45.68% year-on-year[64] - Cash inflow from financing activities totaled CNY 1.98 billion, down 18.15% from the previous year[64] - The company repaid bank loans amounting to CNY 2.15 billion, an increase of 136.45% compared to the previous year[64] Research and Development - Research and development investment amounted to 141,376,752.51 CNY in 2017, a decrease of 8.48% compared to 154,474,022.04 CNY in 2016, representing 2.59% of operating revenue[62] - The company’s workforce in research and development increased by 2.95% to 524 employees, representing 10.80% of the total workforce[62] - The company received 432 authorized patents in 2017, including 70 invention patents, and participated in the formulation and revision of 14 national and industry standards[37] Strategic Focus and Market Outlook - The company plans to focus on quality, efficiency, and cost marketing in 2018 to create competitive advantages[87] - The market for new energy buses is expected to grow significantly due to strong government policies and advancements in battery technology[85] - The company faces risks from economic cycle fluctuations that could impact production and sales in the automotive industry[89] - Increased competition in the automotive market is anticipated, particularly in the traditional bus sales sector, due to rising production scales and investments[91] Corporate Governance and Management - The company has a stock incentive plan that involves granting 6.9468 million restricted shares to 152 key management and technical personnel, with a grant price of 7.02 CNY per share[114] - The company has a compensation and assessment committee that reviews and approves the remuneration of directors, supervisors, and senior management[167] - The governance structure complies with relevant regulations, ensuring the independence of operations from major shareholders[176] - The company maintained effective internal control over financial reporting as of December 31, 2017, according to the internal control audit report[192] Shareholder Structure and Ownership - The total number of shares is 695,565,603, with 695,561,553 shares being unrestricted and 4,050 shares being restricted[143] - The largest shareholder, Anhui Jianghuai Automobile Group Co., Ltd., holds 21.13% of the shares, totaling 147,000,000 shares[146] - Anhui Investment Group Holding Co., Ltd. owns 18.53% of the shares, amounting to 128,854,122 shares, with 64,425,000 shares pledged[146] - The company has not issued any new shares or conducted any share buyback transactions during the reporting period[147] Legal and Compliance Matters - The company has not faced any major litigation or arbitration matters during the reporting period[112] - The company has not reported any major issues requiring explanation during the reporting period[139] - The company has not engaged in any significant asset or equity sales during the reporting period[80]

Financial Performance - Operating revenue for the reporting period was ¥840,578,808.83, a decline of 24.79% compared to the same period last year[8] - Net profit attributable to shareholders of the listed company was -¥55,038,251.14, a decrease of 936.10% year-on-year[8] - Basic earnings per share were -¥0.08, reflecting a 900.00% decline compared to the same period last year[8] - Operating profit decreased significantly, leading to a 44.33% drop in undistributed profits to ¥102,468,846[16] - The company expects a substantial change in net profit compared to the previous year, indicating potential losses[20] Assets and Shareholder Equity - Total assets at the end of the reporting period were ¥7,736,674,566.17, a decrease of 14.78% compared to the end of the previous year[8] - Net assets attributable to shareholders of the listed company were ¥1,238,572,596.23, down 6.19% year-on-year[8] - The weighted average return on net assets was -4.35%, down from -4.86% in the previous year[8] Cash Flow and Receivables - The net cash flow from operating activities for the year-to-date was ¥445,929,903.41, an increase of 130.96%[8] - Cash received from sales increased by 57.36% to ¥2,175,597,828, attributed to higher customer payments[17] - Tax refunds received rose by 522.08% to ¥87,099,822 due to increased export tax rebates[17] - Accounts receivable decreased by 78.78% to ¥95,500,691 due to reduced settlement of receivables and non-consolidation of Ankai axle[16] - Prepayments increased by 166.75% to ¥49,811,451 mainly due to an increase in advance payments[16] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 85,398[12] - The largest shareholder, Anhui Jianghuai Automobile Group Co., Ltd., held 21.13% of the shares[12] Non-Operating Income and Expenses - The company reported non-operating income of ¥49,802,727.42 for the year-to-date[9] - Financial expenses increased by 59.26% to ¥69,574,174 due to higher financing interest expenses[17] - The company reported a significant increase in special reserves by 55.45% to ¥9,225,432 due to higher safety production fee provisions[16] Investment Activities - The company disposed of a 35% stake in Anhui Kaiming Industrial Trade Co., Ltd., receiving ¥1,859,638, with no significant impact on overall production and performance[18] - Cash flow from investment activities decreased by 62.81% to ¥1,859,638 due to reduced investment recovery from Ankai axle[17]

Financial Performance - The company's operating revenue for the first half of 2017 was ¥2,376,693,836.45, representing a 33.57% increase compared to ¥1,779,329,876.02 in the same period last year[16]. - The net profit attributable to shareholders of the listed company was -¥28,783,963.06, a decrease of 249.89% from ¥19,203,225.65 in the previous year[16]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥65,834,518.36, down 838.95% from ¥8,909,217.72 in the same period last year[16]. - The net cash flow from operating activities was ¥792,287,413.19, a significant improvement of 167.01% compared to -¥1,181,047,480.08 in the previous year[16]. - The company reported a basic earnings per share of -¥0.04, compared to ¥0.03 in the same period last year, reflecting a decrease of 233.33%[16]. - The company reported a net loss of CNY 54,209,655.66 for the first half of 2017, contrasting with a net profit of CNY 18,648,311.68 in the same period of 2016[115]. - The total profit for the first half of 2017 was a loss of CNY 64,054,172.92, compared to a profit of CNY 24,804,844.26 in the same period of 2016[114]. - The company reported a significant increase in cash flow, indicating improved liquidity and operational efficiency[109]. Assets and Liabilities - The total assets at the end of the reporting period were ¥8,987,888,124.10, a decrease of 1.00% from ¥9,078,413,495.82 at the end of the previous year[16]. - The company's total assets at the end of the reporting period amounted to CNY 5,603.0 million, with total liabilities of CNY 1,446.5 million[135]. - The company's fixed assets totaled ¥1,144,039,412.96, which is 12.73% of total assets, showing a decrease of 2.91% from the previous year[37]. - The company's total liabilities decreased from CNY 7,606,632,304.40 to CNY 7,567,340,007.82, a reduction of about 0.5%[106]. - The total liabilities at the end of the period were 5,934,491.49 CNY[129]. Revenue and Sales - In the first half of 2017, the company sold 4,198 buses, a year-on-year decrease of 2.87%, while achieving sales revenue of CNY 2,376,693,836.45, an increase of 33.57% compared to the previous year[30]. - Domestic revenue amounted to ¥1,835,456,802.54, reflecting a growth of 6.85% year-on-year, while foreign revenue surged by 2,605.46% to ¥523,390,073.48[35]. - The company reported a total of 15,821.4 million CNY in related party transactions for the procurement of chassis and components, which accounted for 26.36% of the approved transaction amount of 60,000 million CNY[63]. Investments and Acquisitions - The company has made a strategic acquisition of a 100% stake in Ankai Jin Da Auto Parts Co., Ltd. for ¥6,417,300.00, enhancing its production capabilities[40]. - The company acquired a 51% stake in Anhui Kaiya Automotive Components Co., Ltd. through a capital increase of 1,431.15 million CNY, with a cash payment of 528.9 million CNY[66]. - The company plans to establish Sichuan Daqing to enhance regional market share and improve profitability[48]. Research and Development - The company continues to focus on the research, manufacturing, and sales of various bus products, including public transport and new energy commercial vehicles[23]. - The company introduced German technology for technical cooperation, leading to the development of core technologies for buses and obtaining national invention patents[25]. - The company has established a product platform that includes various electric and hybrid buses, showcasing its R&D and production capabilities in the new energy bus sector[26]. - The company’s research and development investment decreased by 8.59% to CNY 41,544,034.24[31]. Cash Flow and Financing - Cash and cash equivalents at the end of the reporting period were ¥1,625,924,268.26, accounting for 18.09% of total assets, up from 12.50% the previous year[37]. - The company reported a net cash outflow from investing activities of ¥115,978,522.38, compared to a net outflow of ¥51,802,049.03 in the previous year[122]. - Cash inflow from financing activities was ¥932,261,379.29, while cash outflow totaled ¥1,654,989,813.76, leading to a net cash outflow of ¥722,728,434.47[123]. Market and Competition - The automotive industry is facing risks from economic cycle fluctuations, which could impact production and sales[51]. - Increased market competition poses a risk, as domestic manufacturers expand production and invest heavily to gain market share[52]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares for the reporting period[6]. - The total number of common shareholders at the end of the reporting period was 54,821[90]. - The stock incentive plan is pending approval, aiming to grant 6.9468 million restricted shares to 152 key personnel at a price of 7.02 yuan per share[62]. Related Party Transactions - The company engaged in related party transactions with Jianghuai Automobile Group, amounting to 3,918.3 million CNY for the procurement of parts, with a market price settlement method[63]. - The company has not reported any significant discrepancies between the transaction prices and market reference prices for related party transactions[65]. Compliance and Governance - The company’s financial statements are prepared based on the going concern principle, with no identified issues affecting its ability to continue operations[156]. - The company adheres to the accounting standards and policies as per the enterprise accounting standards, ensuring accurate financial reporting[158].

Financial Performance - The company's operating revenue for 2016 was ¥4,757,326,623.69, representing an increase of 18.28% compared to ¥4,022,112,450.11 in 2015[18]. - The net profit attributable to shareholders for 2016 was ¥51,350,674.31, up 27.62% from ¥40,236,605.73 in 2015[18]. - The basic earnings per share for 2016 was ¥0.07, a 16.67% increase from ¥0.06 in 2015[18]. - The weighted average return on equity was 3.96% in 2016, up from 3.20% in 2015[18]. - The net profit attributable to shareholders in Q4 was CNY 25,564,712.19, showing a strong recovery from earlier quarters[22]. - The company reported a significant increase in financial expenses, rising by 391.52% to ¥58.03 million due to increased financing interest expenses[46]. - The company reported a total sales revenue of 143,102 million CNY for the year 2016[88]. - The total profit for the current period is CNY 73,584,758.11, an increase from CNY 48,430,247.72 in the previous period[188]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at -¥1,256,344,896.82, a decline of 334.28% compared to -¥289,294,343.53 in 2015[18]. - The cash flow from operating activities was not detailed, but the overall cash position indicates a need for improved operational efficiency[193]. - The cash flow from investing activities shows a net outflow of -CNY 77,351,357.17, compared to -CNY 160,359,111.96 in the previous period, indicating an improvement[189]. - Cash flow from financing activities resulted in a net inflow of CNY 845,072,153.65, an increase from CNY 128,551,976.45 in the previous period[190]. - The cash and cash equivalents at the end of the period amount to CNY 575,378,608.52, down from CNY 1,062,607,311.58 at the beginning of the period[190]. - The total cash and cash equivalents at the end of the period decreased to 334,789,879.66 CNY from 815,614,118.10 CNY, indicating a liquidity challenge[193]. Assets and Liabilities - The total assets at the end of 2016 reached ¥9,078,413,495.82, an increase of 47.00% from ¥6,175,584,773.96 at the end of 2015[18]. - Total liabilities reached CNY 7,606,632,304.40, an increase of 60.5% from CNY 4,738,226,230.46 at the beginning of the year[174]. - Short-term borrowings surged to CNY 1,766,800,000.00, compared to CNY 450,000,000.00 at the start of the year, indicating a significant increase of 292.8%[174]. - The company's equity attributable to shareholders rose to CNY 1,320,244,909.95, up from CNY 1,279,558,449.19, reflecting a growth of 3.2%[175]. Inventory and Sales - The company achieved a total sales volume of 10,131 buses in 2016, representing a year-on-year growth of 1.14%[34]. - The company’s inventory increased by 72.77% year-on-year, attributed to a rise in stock vehicles[39]. - The company’s revenue from chassis and other products grew by 36.10% year-on-year, indicating strong demand in that segment[36]. - Sales expenses increased to CNY 439,488,297.34, up 21.6% from CNY 361,283,074.27 in the prior period[181]. Research and Development - Research and development investment reached ¥154.47 million, a 32.52% increase from ¥116.56 million in 2015, representing 3.25% of operating revenue[47]. - The company successfully developed several competitive new products, including the A9 high-end bus and various electric bus projects, enhancing its R&D capabilities in the new energy sector[47]. Market and Economic Conditions - The company has identified macroeconomic risks that may affect its future development, as detailed in the report[5]. - The bus market is undergoing significant structural changes, with a shift towards public transport and an increase in the market share of medium-sized buses[67]. - The company faces risks from economic cycles, policy adjustments, and intensified market competition in the automotive industry[69]. - The government is expected to continue supporting the transition to new energy buses, which will become the norm in the industry[68]. Corporate Governance and Management - The company has a structured remuneration decision-making process involving a compensation and assessment committee[134]. - The total remuneration paid to directors, supervisors, and senior management in 2016 amounted to CNY 5.7359 million[134]. - The company emphasizes the importance of professional backgrounds and qualifications among its directors and senior management[124]. - The company has undergone a restructuring of its supervisory board, with new appointments made following elections[123]. Future Outlook and Strategy - The company plans to focus on enhancing its capital structure and exploring new financing options to support future growth initiatives[197]. - The company plans to enhance its market position through strategic investments and potential acquisitions in the automotive sector[199]. - Future outlook includes a focus on new product development and technological advancements to drive growth[199].

Financial Performance - The company's operating revenue for Q1 2017 was ¥986,172,419.16, representing a 6.81% increase compared to ¥923,303,638.51 in the same period last year[8] - The net profit attributable to shareholders was a loss of ¥23,263,628.62, a decrease of 330.57% from a profit of ¥10,089,683.80 in the previous year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥33,861,278.27, down 517.08% from ¥8,118,675.61 in the prior year[8] - The total comprehensive income attributable to the parent company was -¥23,263,628.62, compared to ¥10,089,683.80 in the previous period[41] - The net profit for the period was -¥11,552,201.60, a significant decrease from ¥23,489,839.76 in the same period last year[44] - The net profit for Q1 2017 was a loss of CNY 31,365,402.56, compared to a loss of CNY 2,491,619.07 in the previous year[40] Cash Flow - The net cash flow from operating activities improved by 49.92%, amounting to -¥253,472,295.45 compared to -¥506,145,152.93 in the same period last year[8] - The net cash flow from operating activities was -198,134,483.87, an improvement from -440,097,339.00 in the previous period, indicating a 55% reduction in cash outflow[52] - Cash inflow from operating activities totaled 430,591,180.95, compared to 262,106,965.99 in the previous period, representing a 64% increase[51] - Cash outflow from operating activities decreased to 628,725,664.82 from 702,204,304.99, a reduction of approximately 10%[51] - The company reported a total cash inflow from operating activities of 430,591,180.95, while total cash outflow was 628,725,664.82, resulting in a net cash flow of -198,134,483.87[52] Assets and Liabilities - The total assets at the end of the reporting period were ¥8,982,788,611.14, a decrease of 1.05% from ¥9,078,413,495.82 at the end of the previous year[8] - The total liabilities decreased slightly to CNY 7,545,656,054.64 from CNY 7,606,632,304.40, a reduction of approximately 0.8%[36] - The company's cash and cash equivalents decreased to CNY 808,227,515.13 from CNY 980,850,759.58, a decline of approximately 17.5%[34] - The company's total owner's equity decreased to CNY 1,437,132,556.50 from CNY 1,471,781,191.42, a decline of about 2.4%[34] Earnings Per Share - The basic earnings per share were -¥0.03, a decline of 400.00% from ¥0.01 in the same period last year[8] - The diluted earnings per share were also -¥0.03, reflecting a 400.00% decrease from ¥0.01 in the previous year[8] - The basic and diluted earnings per share were both -¥0.03, compared to ¥0.01 in the previous period[41] Expenses - Total operating costs decreased to CNY 1,036,357,611.02 from CNY 1,350,608,768.90, a reduction of about 23.2%[40] - Sales expenses decreased by 66.84% to ¥29,815,793.35 as a result of reduced operational scale[16] - The financial expenses for the period were ¥21,988,666.56, significantly higher than ¥8,651,793.82 in the previous period[44] - Tax and surcharges increased by 462.42% to ¥7,655,899.90 due to changes in reporting scope[16] Non-Recurring Items - The company reported non-recurring gains and losses totaling ¥10,597,649.65, primarily from government subsidies and other income[9] - Cash received from other operating activities decreased by 65.41% to ¥7,600,486.15 due to lower government subsidies[17] Inventory and Other Assets - The inventory increased to CNY 92,810,928.90 from CNY 84,109,901.51, reflecting an increase of about 10.1%[34] - Other current assets rose by 40.82% to ¥136,820,810.97 primarily from increased deductible input tax[16] - Prepayments increased by 221.30% to ¥59,997,908.18 due to higher purchase payments[16] Impairment and Provisions - Asset impairment losses decreased by 94.40% to ¥1,715,813.10 due to reduced bad debt provisions[16] Audit Status - The company has not audited the first quarter report, which may affect the reliability of the financial data presented[54]

Financial Performance - The company's operating revenue for 2016 was ¥4,757,326,623.69, representing an increase of 18.28% compared to ¥4,022,112,450.11 in 2015[18]. - The net profit attributable to shareholders for 2016 was ¥51,350,674.31, up 27.62% from ¥40,236,605.73 in the previous year[18]. - The basic earnings per share for 2016 was ¥0.07, a 16.67% increase from ¥0.06 in 2015[18]. - The weighted average return on equity was 3.96% in 2016, up from 3.20% in 2015[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥7,414,954.22, a decrease of 214.37% from ¥6,483,152.96 in 2015[18]. - The total revenue for Jianghuai Bus was approximately CNY 1.56 billion, with a net profit of CNY 6.18 million[65]. - Ankai Jinda's total revenue reached CNY 315.27 million, with a net profit of approximately CNY 2.62 million[65]. - Ankai Axle reported a total revenue of CNY 1.18 billion, but incurred a net loss of approximately CNY 12.93 million[65]. - The total comprehensive income for the year was CNY 40,236.6 million, with a decrease of CNY 29,298 million compared to the previous year[200]. - The total equity attributable to the parent company at the end of the year was CNY 1,437.3 million, reflecting a decrease of CNY 32,936 million from the previous year[199]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at -¥1,256,344,896.82, a decline of 268.95% compared to -¥289,294,343.53 in 2015[18]. - The company experienced a net cash flow from operating activities of CNY 184,110,981.91 in Q4, contrasting with negative cash flows in the earlier quarters[22]. - The total cash and cash equivalents decreased by 109.90% to -¥487,228,703.06, indicating a significant cash outflow[48]. - Cash and cash equivalents at the end of the period decreased to 334,789,879.66 yuan from 815,614,118.10 yuan, indicating liquidity challenges[194]. - The cash flow from operating activities showed a significant outflow, with total cash outflow reaching 3,741,633,822.79 yuan, compared to 2,960,333,259.11 yuan in the previous period[193]. Assets and Liabilities - The total assets at the end of 2016 reached ¥9,078,413,495.82, an increase of 47.00% from ¥6,175,584,773.96 at the end of 2015[18]. - Current liabilities rose to CNY 6,856,260,547.03, compared to CNY 4,358,711,501.16, marking an increase of about 57.4%[175]. - Non-current liabilities increased to CNY 750,371,757.37 from CNY 379,514,729.30, showing a growth of approximately 97.6%[175]. - The company's total liabilities increased to CNY 44,174.0 million, indicating a higher leverage ratio compared to the previous year[198]. Sales and Market Performance - In 2016, the company achieved total sales of 10,131 buses, a year-on-year increase of 1.14%, with total sales revenue reaching CNY 4,757,326,623.69, up 18.28% from 2015[34]. - The company's domestic sales accounted for 97.90% of total revenue, with a year-on-year growth of 20.25%[36]. - The company signed a significant contract to supply 600 buses to Hefei Public Transport Group, with 480 units invoiced by the report date[40]. - The bus market is undergoing significant structural changes, with a shift towards public transport and an increase in medium-sized buses[67]. Research and Development - The company has developed a comprehensive product platform for new energy buses, enhancing its competitive edge in the market[30]. - The company has established a strong R&D capability, including a national electric bus system integration engineering technology research center[30]. - The company's R&D investment increased by 32.52% year-on-year, reaching ¥154,474,022.04, which represents 3.25% of total operating revenue[47]. - The company successfully developed several competitive new products, including high-end buses and electric buses, enhancing its R&D capabilities[47]. Governance and Management - The company has a diverse management team with members holding advanced degrees, including master's degrees in various fields[125]. - The company is committed to maintaining a strong governance structure with independent directors overseeing operations[126]. - The total remuneration paid to directors, supervisors, and senior management in 2016 amounted to CNY 5.7359 million[134]. - The company has independent directors who are also involved in various other companies, ensuring diverse governance[133]. Subsidiaries and Investments - The company established four wholly-owned subsidiaries during the reporting period, expanding its consolidation scope[43]. - The company completed several significant equity investments, including a 100% stake in Harbin Ankai New Energy Bus Co., Ltd., focusing on automotive components[57]. - The company has established new subsidiaries in various regions, including Suzhou and Beijing, to expand its automotive and component sales operations[59]. Risks and Challenges - Risks include economic cycle fluctuations, policy adjustments, and intensified market competition affecting the automotive industry[69]. - The company has not faced any suspension or termination of listing issues following the annual report disclosure[82]. Audit and Compliance - The audit firm Huapu Tianjian has been retained for two consecutive years, with an audit fee of 710,000 CNY[82]. - The audit report issued by Huapu Tianjian CPA was a standard unqualified opinion[165]. - The company maintained effective internal control over financial reporting as of December 31, 2016, according to the audit opinion[159].

证券代码：000868 证券简称：安凯客车 公告编号：2016-054 安徽安凯汽车股份有限公司 2016 年第三季度报告正文 1 安徽安凯汽车股份有限公司 2016 年第三季度报告正文 安徽安凯汽车股份有限公司 2016 年第三季度报告正文 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。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人戴茂方、主管会计工作负责人刘勇及会计机构负责人(会计主管 人员)刘勇声明：保证季度报告中财务报表的真实、准确、完整。 2 安徽安凯汽车股份有限公司 2016 年第三季度报告正文 第二节 主要财务数据及股东变化 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 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 8,274,058,372.05 | 6,175,584,773.96 ...

Financial Performance - In the first half of 2016, the company sold 4,322 buses, representing a year-on-year growth of 3.35%[28]. - The total revenue for the first half of 2016 was CNY 1,779,329,876.02, an increase of 3.32% compared to the same period last year[19]. - The net profit attributable to shareholders was CNY 19,203,225.65, a decrease of 36.60% year-on-year[19]. - The net profit after deducting non-recurring gains and losses was CNY 8,909,217.72, down 53.37% from the previous year[19]. - The basic earnings per share were CNY 0.03, down 25.00% year-on-year[19]. - The weighted average return on net assets was 1.50%, a decrease of 0.92% compared to the previous year[19]. - The overall market for buses in China saw a 15.66% increase in sales in the first half of 2016, with buses over 6 meters growing by 10.3%[27]. - Operating revenue for the period was $1,779.33 million, an increase of 3.32% compared to the same period last year[30]. - Operating costs rose to $2,232.81 million, reflecting a significant increase of 19.96% year-over-year[30]. - The company achieved a 104.27% increase in asset impairment losses, totaling $28.29 million, mainly due to increased provisions for bad debts and inventory depreciation[31]. Cash Flow and Liquidity - The net cash flow from operating activities was negative CNY 1,181,047,480.08, a decline of 65.86% compared to the same period last year[19]. - Cash flow from operating activities showed a negative net amount of -$1,181.05 million, a decline of 65.86% due to reduced customer payments and government subsidies[30]. - Cash and cash equivalents decreased by 31.61% to $909.19 million, primarily due to reduced customer payments[32]. - Cash and cash equivalents at the end of the period totaled 637,375,992.36 CNY, down from 943,888,726.59 CNY in the previous year[144]. - The company experienced a net cash outflow of -425,231,319.22 CNY in cash and cash equivalents, compared to -436,646,483.62 CNY in the prior period[144]. - The total cash inflow from operating activities was 759,772,578.44 CNY, down from 1,335,328,242.56 CNY year-over-year[143]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 7,272,763,596.99, an increase of 17.77% from the end of the previous year[19]. - The total liabilities reached CNY 5,826,254,660.63, compared to CNY 4,738,226,230.46, an increase of about 22.9%[128]. - Current liabilities rose to CNY 5,255,621,202.33, compared to CNY 4,358,711,501.16, an increase of about 20.6%[128]. - Short-term borrowings surged to CNY 1,399,819,590.08 from CNY 450,000,000.00, reflecting a significant increase of 211.5%[128]. - Non-current liabilities totaled CNY 570,633,458.30, up from CNY 379,514,729.30, marking a rise of about 50.4%[128]. Investments and R&D - The company completed the development of a full range of pure electric buses, including models K6, K7, and 12-meter double-decker buses[37]. - Research and development expenses decreased by 3.67% to $45.45 million[30]. - The company has developed a product platform that includes 10-12 meter pure electric buses and hybrid city buses, showcasing its R&D capabilities in new energy vehicles[50]. Shareholder and Governance - The company distributed a cash dividend of 0.2 yuan per 10 shares, totaling 13,911,312.06 yuan for the 2015 fiscal year[65]. - The remaining undistributed profit for cash dividends from the 2015 fiscal year is 129,538,118.54 yuan, which will be carried forward to future distributions[65]. - The governance structure of the company is effective, ensuring independence from major shareholders and compliance with relevant regulations[73]. - There were no significant litigation or arbitration matters during the reporting period[75]. - The company has not made any external equity investments during the reporting period, maintaining a stable investment strategy[52]. Market and Sales - The production of various buses reached 4,501 units, representing a year-on-year growth of 4.7%[38]. - The company implemented 28 targeted marketing activities to enhance brand awareness and market penetration[34]. - The company's revenue from the bus manufacturing industry was approximately ¥1.77 billion, a decrease of 26.07% compared to the previous year[49]. - The revenue from complete vehicles was about ¥1.16 billion, down 44.52% year-on-year, while the gross margin for this segment was 21.21%, a decrease of 29.48%[49]. Financial Management - The company has strengthened its cost management foundation by revising cost standards and conducting cost verification work in the first half of the year[47]. - The company achieved a cost reduction in supporting components, with significant results from market-oriented cost control during the product development phase[46]. - The company has implemented a plan to improve employee satisfaction, focusing on five dimensions and 40 specific actions[42]. Compliance and Reporting - The semi-annual financial report was not audited[103]. - The financial report for the first half of 2016 was not audited[124]. - The company adheres to the accounting standards and policies set forth by the relevant authorities, ensuring accurate financial reporting[177]. - The company has assessed its ability to continue as a going concern for the next 12 months and found no issues affecting this capability[175].

Financial Performance - The company's operating revenue for Q1 2016 was ¥923,303,638.51, representing an increase of 18.32% compared to ¥780,330,424.52 in the same period last year[8]. - Net profit attributable to shareholders was ¥10,089,683.80, a significant increase of 153.23% from ¥3,984,465.27 year-on-year[8]. - The net profit after deducting non-recurring gains and losses was ¥8,118,675.61, compared to a loss of ¥1,547,536.99 in the previous year, marking a 624.62% improvement[8]. - Net profit attributable to the parent company increased by 153.23% to ¥10,089,683.80, driven by improved operating performance[18]. Assets and Shareholder Information - The company's total assets at the end of the reporting period were ¥6,650,729,240.90, up 7.69% from ¥6,175,584,773.96 at the end of the previous year[8]. - The net assets attributable to shareholders increased to ¥1,291,306,550.19, reflecting a growth of 0.92% from ¥1,279,558,449.19[8]. - The total number of shareholders at the end of the reporting period was 69,962[12]. - The largest shareholder, Anhui Jianghuai Automobile Co., Ltd., held 21.13% of the shares, totaling 147,000,000 shares[12]. - Anhui Investment Group Co., Ltd. held 18.53% of the shares, totaling 128,854,122 shares, with 64,425,000 shares pledged[12]. Cash Flow and Borrowings - The net cash flow from operating activities was -¥506,145,152.93, slightly improved by 2.96% from -¥521,563,434.19 year-on-year[8]. - Cash received from government subsidies related to operating activities increased by 200.20% to ¥21,970,668.01[19]. - Cash received from borrowings rose by 89.98% to ¥290,000,000.00, reflecting an increase in bank loans[19]. - Long-term borrowings increased by 200.00% to ¥225,000,000.00, due to the termination of an investment framework agreement[16]. Operational Metrics - The weighted average return on net assets was 0.78%, an increase of 0.46% compared to 0.32% in the previous year[8]. - Accounts receivable increased by 32.81% to ¥1,923,791,863.16, mainly due to an increase in sales amounts not yet settled[16]. - Other receivables rose by 47.67% to ¥1,382,720,497.56, primarily due to an increase in new energy subsidy receivables[16]. - Operating costs increased by 36.50% to ¥1,158,423,299.86, attributed to the expansion of the company's operating scale[17]. - Sales expenses grew by 47.92% to ¥89,915,013.10, also due to the expansion of the company's operations[17]. - Non-operating income surged by 110.24% to ¥433,209,220.73, mainly from increased recognition of new energy subsidies[18]. Future Outlook - The company expects significant changes in net profit compared to the same period last year, but no specific guidance was provided[22].

Financial Performance - The company's operating revenue for 2015 was ¥4,022,112,450.11, a decrease of 16.82% compared to ¥4,835,294,625.24 in 2014[15]. - The net profit attributable to shareholders of the listed company was ¥40,236,605.73, an increase of 70.95% from ¥23,537,516.00 in the previous year[15]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥6,483,152.96, a significant turnaround from a loss of ¥27,234,947.29 in 2014, representing a 123.80% increase[15]. - The basic earnings per share for 2015 was ¥0.06, doubling from ¥0.03 in 2014[15]. - The total revenue for 2015 was approximately CNY 4.02 billion, down 16.82% from CNY 4.84 billion in 2014[33]. - The net profit attributable to the parent company was CNY 40.24 million, an increase of 70.95% year-on-year[31]. - The gross profit margin for the bus manufacturing industry was reported at 3.01%, a decrease of 21.64% compared to the previous year[35]. - The company reported a total revenue of 38,445 million CNY for the year 2015[86]. - The net profit for the parent company in 2015 was 61,518,481.35 CNY, with a 10% allocation of 6,151,848.14 CNY to surplus reserves[73]. - The total distributable profit available for shareholders is 143,449,430.60 CNY, with the cash dividend representing 100% of the profit distribution[73]. Assets and Liabilities - The total assets at the end of 2015 were ¥6,175,584,773.96, reflecting a 24.64% increase from ¥4,954,911,980.56 at the end of 2014[15]. - The total amount of funds raised through a private placement was RMB 458.1 million, with a net amount of RMB 442.28 million after deducting fees[56]. - The company’s total liabilities increased, with short-term loans rising to CNY 450,000,000, up 3.99% from the previous year[51]. - The total liabilities amounted to RMB 4,738,226,230.46, up from RMB 3,527,541,425.60, indicating an increase of about 34.3%[174]. - The company's total equity reached RMB 1,437,358,543.50, slightly up from RMB 1,427,370,554.96, reflecting a growth of approximately 0.6%[174]. Cash Flow - The net cash flow from operating activities was negative at -¥289,294,343.53, a decline of 328.19% compared to a positive cash flow of ¥126,780,222.04 in 2014[15]. - Operating cash flow net amount was CNY -289,294,343.53, a decline of 328.19% year-on-year, primarily due to a decrease in cash received from sales[46]. - The company reported a cash and cash equivalents balance of ¥1,062,607,311.58 at the end of the period, down from ¥1,380,535,210.21 at the beginning of the period[190]. - Cash flow from financing activities generated a net inflow of ¥128,551,976.45, compared to a smaller inflow of ¥24,683,289.45 in the previous period, indicating improved financing activities[190]. - The total cash inflow from operating activities was ¥3,840,933,528.27, while total cash outflow was ¥4,130,227,871.80, leading to a negative cash flow situation[188]. Sales and Market Performance - In 2015, the company sold a total of 10,017 buses, a decrease of 4.18% compared to 2014[31]. - Domestic sales contributed 96.29% of total revenue, while export sales dropped by 60.88% to CNY 149.10 million[33]. - The sales of complete vehicles accounted for 76.77% of total revenue, while chassis and other products made up 23.23%, with the latter seeing a significant decline of 45.74%[33]. - The company has signed major sales contracts, including an order for 618 buses with Hefei Public Transport Group, of which 180 are new energy buses[36]. Research and Development - Research and development investment reached CNY 116,564,346.97, a 26.94% increase from the previous year, representing 2.90% of total operating revenue[45]. - The company completed the development of new electric buses and hybrid models, including 6-12 meter pure electric buses and A6, A8 series commuter buses[27]. - The company has focused on developing new energy buses, aiming to lead in electric bus technology and safety management[44]. Governance and Management - The company has maintained a good integrity status, with no outstanding court judgments or significant overdue debts[83]. - The company is committed to maintaining a strong governance framework with regular updates on management changes[124]. - The total remuneration paid to directors, supervisors, and senior management in 2015 amounted to CNY 6.6769 million[135]. - The company has a structured approach to governance and oversight through its board and committees[135]. - The company is focused on enhancing its management team with experienced professionals from the automotive sector[125]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 73,271, an increase from 69,962 at the end of the previous month[110]. - The largest shareholder, Anhui Jianghuai Automobile Co., Ltd., holds 21.13% of the shares, totaling 147,000,000 shares[110]. - Anhui Investment Group Co., Ltd. holds 18.53% of the shares, totaling 128,854,122 shares, with 64,425,000 shares pledged[110]. - The company has not reported any changes in shareholding structure or significant shareholder movements during the reporting period[109]. Future Outlook - The company anticipates that the macroeconomic environment in 2016 will stabilize, with continued challenges in the demand for large and medium-sized buses[64]. - The company highlights that new energy vehicles will remain a key focus, influenced by local subsidy policies and their timing[64]. - The company is focusing on improving its financing structure to support future growth and operational needs[194].