Financial Performance - The company's operating revenue for the first half of 2022 was ¥2,582,881,496.14, representing a 21.20% increase compared to ¥2,131,042,072.05 in the same period last year[26]. - The net profit attributable to shareholders was ¥200,071,896.29, up 16.95% from ¥171,077,031.86 in the previous year[26]. - The net profit after deducting non-recurring gains and losses was ¥193,650,453.15, which is a significant increase of 63.60% compared to ¥118,370,879.77 last year[26]. - The net cash flow from operating activities reached ¥786,155,047.31, marking a substantial increase of 204.60% from ¥258,090,222.58 in the same period last year[26]. - The total assets at the end of the reporting period were ¥6,185,836,420.28, reflecting a 20.95% increase from ¥5,114,303,194.88 at the end of the previous year[26]. - The net assets attributable to shareholders increased by 9.70% to ¥3,284,867,016.58 from ¥2,994,304,667.44 at the end of the previous year[26]. - Basic earnings per share were ¥0.4411, an increase of 16.94% compared to ¥0.3772 in the same period last year[26]. - The weighted average return on equity was 6.46%, up from 6.05% in the previous year[26]. Sales and Market Performance - In the first half of 2022, the company achieved a sales revenue of 2.583 billion CNY, representing a year-on-year growth of 21.20%[35]. - The company sold approximately 183,200 motorcycles, a year-on-year decline of about 5.88%, with large-displacement motorcycle sales reaching about 82,000 units, a growth of approximately 68.36%[35]. - Domestic sales accounted for approximately 95,200 units, reflecting a year-on-year increase of about 9.16%, while exports totaled about 88,000 units, down approximately 18.08%[35]. - The motorcycle industry experienced a decline in production and sales, with a total of 9.4392 million and 9.5945 million units sold in the first half of 2022, down 16.07% and 14.88% year-on-year respectively[35]. - The large-displacement motorcycle segment has become the main source of profit for the company, with products in this category consistently ranking first in domestic sales[35]. Research and Development - The company focuses on high-performance motorcycle technology development and aims to enhance user experience through continuous technological upgrades[35]. - The company's R&D investment increased by 41.98% to ¥136,653,495.73, up from ¥96,245,400.57, driven by higher expenditures on R&D materials and new molds[44]. - The company has established a comprehensive R&D system with institutions such as the Powertrain Research Institute and the Vehicle Research Institute, significantly exceeding industry averages in R&D investment and personnel[38]. Strategic Initiatives - The company has established strategic partnerships with leading global motorcycle manufacturers, including Harley Davidson, to strengthen its market position[35]. - The company is actively expanding into the electric vehicle market in response to industry trends[35]. - The company emphasizes talent development and has built a strong decision-making and execution team to enhance its core competitiveness[36]. Financial Position and Investments - The total investment amount for the reporting period was ¥120,155,102.04, a significant increase of 507% compared to ¥19,800,000.00 in the same period last year[63]. - The company plans to enhance research and development, focusing on technological innovation and cost management to mitigate risks and ensure steady growth[76]. - The company intends to invest approximately 3 billion CNY in a new motorcycle manufacturing project, with plans to acquire around 837 acres of land[128]. Risks and Challenges - The management highlighted potential risks and countermeasures in the business operations, which investors should be aware of[5]. - The company faces risks from macroeconomic downturns, exchange rate fluctuations, industrial policy uncertainties, and raw material price volatility[73]. Corporate Governance - The company plans not to distribute cash dividends or issue bonus shares for the semi-annual period, nor to increase share capital from capital reserves[82]. - The company held its 2021 annual general meeting with a participation rate of 54.28% on May 20, 2022, and the first extraordinary general meeting of 2022 with a participation rate of 45.30% on June 23, 2022[80][81]. - The company has not engaged in any major related party transactions during the reporting period[110]. Environmental and Social Responsibility - The company emphasizes social responsibility, focusing on sustainable development and environmental protection while ensuring compliance with national environmental regulations[99]. - The company’s wastewater treatment facility has a processing capacity of 15 tons per hour, and it has maintained compliance with environmental discharge standards during the reporting period[92]. - The total COD emissions were 0.49 tons, well below the approved limit of 8.6 tons, indicating no exceedance of discharge standards[92].

Financial Performance - The company's operating revenue for Q1 2022 was ¥929,585,845.74, representing a 1.52% increase compared to ¥915,623,409.49 in the same period last year[2] - Net profit attributable to shareholders decreased by 40.65% to ¥34,844,664.44 from ¥58,708,642.64 year-on-year[2] - The total liabilities include accounts payable of CNY 962.17 million, which increased from CNY 750.29 million, showing a significant rise of approximately 28.2%[19] - Total operating costs amounted to CNY 893,007,607.38, up from CNY 843,989,863.01, reflecting a year-over-year increase of 5.73%[28] - Net profit for the quarter reached CNY 31,793,072.78, a significant recovery from a net loss of CNY 5,720,170.43 in the same period last year[31] - The company reported a basic earnings per share of CNY 0.08, unchanged from the previous quarter[31] - The total comprehensive income for the quarter was CNY 31,253,890.31, compared to a loss of CNY 6,510,653.01 in the prior year[31] Cash Flow - The net cash flow from operating activities was ¥49,987,448.05, down 34.33% from ¥76,120,091.01 in the previous year[2] - The company experienced a 73.83% decrease in the net increase in cash and cash equivalents, totaling -¥126,748,551.69[9] - Operating cash inflow for the current period was $1,248,740,561.67, an increase from $1,013,577,562.54 in the previous period, representing a growth of approximately 23.2%[35] - Cash outflow from operating activities totaled $1,198,753,113.62, compared to $937,457,471.53 in the previous period, indicating an increase of about 27.8%[35] - Net cash flow from operating activities decreased to $49,987,448.05 from $76,120,091.01, reflecting a decline of approximately 34.3%[35] - Cash inflow from investment activities was $412,003.17, significantly lower than $86,130,154.12 in the previous period, marking a decrease of about 99.5%[38] - Net cash flow from investment activities was -$44,881,902.94, compared to $45,251,123.67 in the previous period, indicating a negative shift[38] - Total cash inflow from financing activities was $304,626,666.60, a substantial increase from $49,275,000.00 in the previous period, representing a growth of approximately 518.5%[38] - Net cash flow from financing activities was $43,646,785.01, slightly down from $47,174,292.00 in the previous period[38] - The ending balance of cash and cash equivalents increased to $1,489,398,259.62 from $1,280,602,139.81, reflecting a growth of about 16.3%[38] - The company received $8,000,000.00 from minority shareholders as part of investment inflow[38] - The company reported a cash outflow of $259,764,000.00 related to other financing activities, a significant increase from $1,960,000.00 in the previous period[38] Assets and Liabilities - The total assets at the end of the reporting period increased by 2.36% to ¥5,234,908,858.07 from ¥5,114,303,194.88 at the end of the previous year[2] - The company's total current assets amounted to approximately CNY 3.41 billion, up from CNY 3.35 billion, indicating a growth of around 1.9%[19] - Cash and cash equivalents stood at CNY 1.54 billion, slightly increasing from CNY 1.51 billion, representing a growth of about 2.5%[16] - The total non-current assets amounted to approximately CNY 1.82 billion, up from CNY 1.77 billion, indicating a growth of around 3.1%[19] - The company's total liabilities increased to CNY 2,180,522,215.41 from CNY 2,099,932,643.92, representing a growth of 3.88%[23] - Shareholders' equity rose to CNY 3,054,386,642.66, compared to CNY 3,014,370,550.96, indicating an increase of 1.32%[23] Expenses - The company reported a significant increase in tax and additional fees by 39.05%, attributed to higher sales of large-displacement motorcycles[6] - Financial expenses surged by 165.90% to ¥12,661,622.46, primarily due to increased exchange losses[6] - Research and development expenses were CNY 49,141,213.41, slightly down from CNY 51,795,025.09, showing a decrease of 5.13%[28] - The company experienced a significant increase in tax expenses, totaling CNY 5,560,747.34, compared to a tax benefit of CNY 14,914,238.50 in the previous year[28] - The financial expenses increased to CNY 5,029,760.69 from a negative CNY 7,631,861.77, indicating a shift in financial performance[28] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 24,705[10] - The company has not disclosed any new product developments or market expansion strategies in the provided data[19]

Financial Performance - The company reported a total revenue of 1.2 billion CNY for the year 2021, representing a year-on-year increase of 15%[19] - The net profit attributable to shareholders was 150 million CNY, an increase of 10% compared to the previous year[19] - The company's operating revenue for 2021 was approximately ¥4.31 billion, representing a 19.29% increase compared to 2020[30] - The net profit attributable to shareholders for 2021 was approximately ¥237.61 million, a slight decrease of 0.80% from 2020[30] - The net profit after deducting non-recurring gains and losses for 2021 was approximately ¥185.32 million, down 3.45% from the previous year[30] - The net cash flow from operating activities for 2021 was approximately ¥207.49 million, a significant decline of 58.75% compared to 2020[30] - The total assets at the end of 2021 were approximately ¥5.11 billion, an increase of 10.63% from the end of 2020[30] - The net assets attributable to shareholders at the end of 2021 were approximately ¥2.99 billion, up 9.06% from the end of 2020[30] - The company achieved a revenue of 4.309 billion yuan in 2021, representing a year-on-year increase of 19.29%[59] - The net profit attributable to shareholders was 238 million yuan, a slight decrease of 0.80% year-on-year[59] - The company reported a total sales volume of 39.5 million units for motorcycles, representing a year-on-year increase of 6.18%[77] Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 20% increase in sales in that region by 2023[19] - Future guidance estimates a revenue growth of 12% for 2022, driven by new product launches and market expansion strategies[19] - The company is exploring potential mergers and acquisitions to enhance its product portfolio and market share[19] - The company aims to enhance user experience and brand recognition through improved channel management and new media applications[52] - The company plans to continue its market expansion strategy, focusing on enhancing its product offerings and technological advancements[124] - The company is actively expanding into the electric motorcycle market with new brands such as Qianjiang Electric and Dongdong[52] - The company will actively explore the all-terrain vehicle market to diversify its product offerings[147] Research and Development - The R&D expenditure for new product development reached 100 million CNY, accounting for 8.3% of total revenue[19] - The company has completed the development of the QJ1200J large-displacement motorcycle, aiming to capture a share of the domestic market for upgraded motorcycles[90] - Ongoing projects include the development of lightweight engines and environmentally friendly high-efficiency electric motorcycles, which are expected to enhance product competitiveness and market reach[90] - The number of R&D personnel increased by 17.76% to 557, with a higher proportion of staff holding bachelor's degrees[96] - The company is developing an ADAS active safety warning system using AI camera technology to enhance vehicle safety[93] - R&D investment amounted to ¥215,906,599.86 in 2021, an increase of 30.23% from ¥165,789,639.27 in 2020, representing 5.01% of operating revenue[98] Sales and Production - The company reported a total motorcycle production and sales volume of 17.84 million units in 2021, a year-on-year increase of 14.01%[44] - The sales volume of fuel motorcycles reached 16.24 million units in 2021, reflecting a growth of 15.52% compared to the previous year[44] - The electric motorcycle sales volume was approximately 3.96 million units in 2021, with a year-on-year increase of 3.65%[44] - Total motorcycle sales reached approximately 395,000 units, reflecting a year-on-year growth of about 6.17%[59] - Sales of large-displacement motorcycles (over 250cc) amounted to approximately 111,300 units, marking a significant year-on-year increase of 26.58%[59] - In 2021, domestic motorcycle sales totaled approximately 177,500 units, a year-on-year decrease of 7.95%, while sales of large-displacement models (250cc and above) increased by 20.08% to about 59,100 units[60] - Exports rose by 21.37% year-on-year to 217,500 units in 2021, with large-displacement exports increasing by 34.85% to approximately 52,200 units; European market exports exceeded 50,000 units, growing by 56.6%[60] Financial Management - The company has no plans to distribute cash dividends or issue bonus shares for the year 2021[7] - Financial expenses decreased by 69.79% year-on-year to ¥12.5 million, mainly due to reduced foreign exchange losses[87] - The total pre-tax remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 1,247.42 million[182] - The company’s independent directors received remuneration of CNY 9.52 million, CNY 5.56 million, and CNY 5.56 million respectively[182] - The remuneration for the financial director was CNY 135.15 million, while the deputy general manager received CNY 87.27 million[182] Governance and Management - The company maintains independence from its controlling shareholder in terms of business, personnel, assets, and financial operations[155] - The company reported a total of 0 shares held by directors and senior management at the beginning and end of the reporting period, indicating no changes in shareholding[159] - All directors and senior management have maintained their positions since May 21, 2021, with terms ending on May 20, 2024[159] - The company’s financial report indicates a stable governance structure with no significant changes in management personnel[168] - The management team includes professionals with extensive experience in finance, engineering, and legal affairs, enhancing the company's operational capabilities[170] Risk Management - The company has identified key risk factors, including supply chain disruptions and market competition, and has developed strategies to mitigate these risks[6] - The company has implemented measures to ensure timely execution of its planned strategies[124]

Financial Performance - The company's revenue for Q3 2021 reached ¥1,315,224,555.39, representing a 14.75% increase year-over-year[3] - Net profit attributable to shareholders decreased by 23.09% to ¥103,934,855.39 in Q3 2021[3] - The net profit excluding non-recurring gains and losses increased by 9.56% to ¥110,228,226.00[3] - The company experienced a 29.54% increase in operating income, primarily due to higher motorcycle sales despite the impact of the COVID-19 pandemic[9] - Total operating revenue for the current period reached ¥3,446,266,627.44, a significant increase of 29.4% compared to ¥2,660,473,461.60 in the previous period[31] - Net profit attributable to the parent company was ¥275,011,887.25, representing an increase of 5.3% from ¥259,760,598.09 in the previous period[34] - The total comprehensive income for the current period was ¥205,959,494.50, compared to ¥228,200,626.65 in the previous period, showing a decrease of 9.7%[36] Assets and Liabilities - Total assets at the end of the reporting period were ¥5,643,142,723.93, a 22.07% increase compared to the end of the previous year[3] - The company's total assets increased to ¥5,643,142,723.93, compared to ¥4,622,837,461.43 in the previous period, reflecting a growth of 22.0%[30] - The company's total liabilities reached ¥2,647,758,336.33, compared to ¥1,939,223,915.90 in the previous period, indicating a rise of 36.6%[30] - The company's total current liabilities rose to ¥2,467,756,226.55, compared to ¥1,801,118,509.95, marking an increase of 37.0%[27] - The company's accounts receivable stood at ¥513,889,149.43, slightly down from ¥524,826,028.59 in the previous year, indicating a decrease of 2.0%[24] - The inventory value increased to ¥997,019,483.52 from ¥927,021,335.19, representing an increase of 7.5%[24] - The company's long-term borrowings were recorded at ¥14,594,517.81, indicating a new financial strategy to manage long-term liabilities[27] Cash Flow - The company's cash flow from operating activities showed a significant decline of 70.54%, totaling ¥217,793,942.05 year-to-date[3] - Operating cash inflows totaled ¥474,704,194.11, reflecting a year-on-year increase of 14.93% due to higher cash receipts from sales of goods and services.[12] - Operating cash outflows reached ¥996,204,697.34, a rise of 40.83%, attributed to increased cash payments for purchases and taxes.[12] - The net cash flow from operating activities was -¥521,500,503.23, a decline of 70.54% due to the impact of cash inflows and outflows.[12] - The net cash flow from investing activities was ¥43,010,253.17, an increase of 62.95%, resulting from higher cash receipts from the disposal of fixed assets.[12] - The net increase in cash and cash equivalents was ¥440,444,374.52, reflecting a growth of 110.47% from operating, investing, and financing activities.[12] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 27,447, with no preferred shareholders restoring voting rights.[13] - The largest shareholder, Geely Technology Group Co., Ltd., holds a 29.77% stake, amounting to 135,000,000 shares, with 107,973,000 shares pledged.[16] - The company has no known related party relationships among its top shareholders, and the top ten shareholders do not constitute concerted action.[19] Research and Development - Research and development expenses increased by 30.44% to ¥33,312,649.39 due to higher investments in mold and material[9] - Research and development expenses for the current period were ¥142,760,737.97, up 30.4% from ¥109,448,088.58 in the previous period[31] Other Financial Metrics - The weighted average return on equity decreased to 3.50%, down by 1.41% compared to the previous year[3] - Earnings per share (basic and diluted) increased to ¥0.61 from ¥0.57 in the previous period[37] - The company reported a decrease in other comprehensive income after tax, amounting to -¥1,767,739.06 compared to ¥276,593.42 in the previous period[36] Miscellaneous - The company reported a provision for bad debts at 100% for the receivables from Venezuela[20] - The company has committed to cover a total of €38,536,565.29 in losses for its subsidiary BENELLI Q.J.SRL, with a 70% share amounting to €26,975,595.70[20] - The report for the third quarter of 2021 was not audited[54] - The company has not made any adjustments to comparative data prior to the implementation of the new leasing standards[54] - The company has adopted the new leasing standards effective January 1, 2021, with no significant impact on financial status or cash flows[51]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥2,131,042,072.05, representing a 40.72% increase compared to ¥1,514,337,324.16 in the same period last year[26] - The net profit attributable to shareholders was ¥171,077,031.86, up 37.28% from ¥124,615,201.87 year-on-year[26] - The net profit after deducting non-recurring gains and losses was ¥118,370,879.78, reflecting a 34.22% increase from ¥88,190,958.85 in the previous year[26] - The basic earnings per share increased to ¥0.38, a rise of 40.74% compared to ¥0.27 in the same period last year[26] - The company reported a weighted average return on equity of 6.05%, an increase of 1.48% from 4.57% in the previous year[26] - The company reported a net profit increase of ¥180.51 million from another asset sale, representing 1.06% of total net profit[71] - The company reported a total revenue of 1,658.38 million yuan from its subsidiary Zhejiang Meikeda Motorcycle Co., Ltd.[80] - The company's net profit for the first half of 2021 was CNY 427,445,833.64, a significant recovery from a net loss of CNY 29,065,171.69 in the same period of 2020, indicating a turnaround in performance[197] Assets and Liabilities - The total assets at the end of the reporting period were ¥5,080,115,191.09, which is a 9.89% increase from ¥4,622,837,461.43 at the end of the previous year[26] - The net assets attributable to shareholders increased to ¥2,917,773,123.81, up 6.27% from ¥2,745,505,221.88 at the end of the previous year[26] - The company's total assets as of June 30, 2021, amounted to ¥3,999,601,761.14, compared to ¥3,441,185,053.80 at the end of 2020, marking an increase of about 16.3%[180] - The total liabilities as of June 30, 2021, were ¥1,754,545,432.59, compared to ¥1,628,330,565.54 at the end of 2020, reflecting an increase of approximately 7.7%[183] - Total liabilities rose to CNY 2,183,755,666.56 from CNY 1,939,223,915.90, which is an increase of approximately 12.59%[172] Sales and Market Performance - In the first half of 2021, the company achieved sales revenue of CNY 2.13 billion, a year-on-year increase of 40.72%[38] - The company sold a total of 196,000 units, representing a year-on-year growth of approximately 30.60%, with large-displacement motorcycles (250cc and above) sales reaching 49,000 units, up about 31%[38] - Domestic sales totaled approximately 88,500 units, a year-on-year decline of about 12.5%, while exports surged to 107,500 units, marking a 120% increase[38] - The motorcycle manufacturing segment accounted for 95.77% of total revenue, with sales of two-wheeled motorcycles contributing CNY 1.96 billion, a 47.33% increase year-on-year[40] - Overseas sales accounted for 43.24% of total revenue, with a significant year-on-year growth of 112.47%[47] Research and Development - Research and development expenses increased by 37.44% to CNY 96 million, reflecting higher investment in R&D personnel and materials[43] - The company plans to enhance its research and development efforts to mitigate risks associated with industry policies and raw material price fluctuations[84] - Research and development expenses for the first half of 2021 were ¥96,245,400.57, compared to ¥70,025,767.74 in the same period of 2020, indicating an increase of about 37.5%[186] Cash Flow and Investments - The net cash flow from operating activities was ¥258,090,222.58, down 45.47% from ¥473,262,212.47 in the same period last year[26] - The company's cash and cash equivalents increased to ¥1,724,991,171.38, representing 33.96% of total assets, up from 24.77% the previous year[56] - Investment income amounted to ¥241,575,253.55, accounting for 209.51% of total profit, mainly due to the loss of control over a subsidiary, resulting in the reversal of previous excess losses[52] - The company reported a significant increase in investment income, amounting to CNY 371,087,224.61, compared to a loss of CNY 9,206,428.23 in the previous year, highlighting improved investment performance[197] Corporate Governance and Shareholder Information - The annual shareholders' meeting had a participation rate of 41.79% on May 21, 2021[87] - The total number of ordinary shareholders at the end of the reporting period was 23,654, with 10 shareholders holding more than 5%[140] - Geely Technology Group Co., Ltd. holds a 29.77% stake in the company, amounting to 135,000,000 shares, which are currently pledged[140] - The company has not reported any new share issuance or changes in share capital during the reporting period[140] Environmental and Legal Compliance - The company has a wastewater treatment capacity of 15 tons per hour, with all wastewater processed to meet the tertiary discharge standards[97] - The total discharge of COD was 0.64 tons, well below the approved discharge limit of 12 tons[97] - The total discharge of ammonia nitrogen was 0.02 tons, significantly lower than the approved limit of 0.8 tons[97] - There were no significant legal disputes or administrative penalties during the reporting period[111] - The company has not engaged in any major related party transactions during the reporting period[112]

Financial Performance - The company's operating revenue for 2020 was ¥3,612,450,164.86, a decrease of 4.55% compared to ¥3,784,597,110.45 in 2019[23]. - The net profit attributable to shareholders of the listed company was ¥239,513,540.09, an increase of 5.07% from ¥227,961,079.28 in 2019[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥191,949,652.39, representing a 94.63% increase compared to the previous year[26]. - The net cash flow from operating activities was ¥503,025,017.30, an increase of 51.03% year-on-year[26]. - Basic and diluted earnings per share were both ¥0.53, reflecting a 6.00% increase from the previous year[26]. - Total assets decreased by 1.91% year-on-year to ¥4,622,837,461.43[26]. - The net assets attributable to shareholders increased by 1.75% year-on-year to ¥2,745,505,221.88[26]. - The company achieved a total revenue of CNY 3.61 billion in 2020, a decrease of 4.55% year-on-year, while net profit attributable to shareholders increased by 5.07% to CNY 240 million[47]. Sales and Market Performance - Motorcycle sales reached approximately 372,000 units, down 15.99% year-on-year, with large-displacement motorcycle sales increasing by 9.56% to about 88,000 units[47]. - Domestic motorcycle sales fell to approximately 192,800 units, a decline of 19.45%, while large-displacement motorcycle sales in the domestic market grew by 7.47% to about 49,200 units[47]. - Export sales decreased by 11.93% to 179,200 units, but large-displacement exports rose by 12.33% to approximately 38,700 units[47]. - The company launched 16 new fuel-powered motorcycle models in 2020, including 4 models under the Benelli brand and 7 models under the QJMOTOR brand[47]. - The overall motorcycle sales in China decreased by 10% in 2020, with total sales of 5.8937 million units[99]. Research and Development - R&D expenses increased by 7.47% to ¥165,789,639.27 in 2020 from ¥154,270,574.31 in 2019, with R&D personnel increasing by 53.57% to 473[68]. - Total R&D investment accounted for 4.59% of operating revenue in 2020, up from 4.08% in 2019[71]. - New product development is prioritized, with a focus on high-precision technology and electric motorcycle products to align with the trend towards electrification[103]. Operational Changes and Strategies - The company implemented a new retail system and established online mapping stores based on location services to enhance online and offline integration[50]. - The company aims to enhance marketing capabilities and user engagement in 2021, focusing on building brand value and product quality[99]. - The company is advancing digital marketing and community operations to improve user interaction and brand recognition[99]. - The company plans significant cash expenditures in 2021 for new factory construction, office buildings, and purchasing large-displacement engines and assembly lines[115]. Shareholder Information - The company plans not to distribute cash dividends, issue bonus shares, or increase capital from reserves[6]. - The total number of shares is 453,536,000, with 100% being unrestricted shares[163]. - The largest shareholder, Geely Technology Group, holds 29.77% of the shares, totaling 135,000,000[166]. - The company has not conducted any share buybacks during the reporting period[163]. Risks and Challenges - The company faces risks from the COVID-19 pandemic and macroeconomic conditions, which may impact market expansion and product sales[104]. - Rising raw material and labor costs pose a risk to operating performance, prompting the company to focus on lean production and automation[106]. - The company is exposed to foreign exchange risks due to its significant export business, and it plans to implement hedging strategies[106]. Environmental and Social Responsibility - The company emphasizes its commitment to social responsibility, focusing on environmental protection and sustainable development[146]. - The company achieved a reduction in pollutant emissions, meeting the new environmental protection standards set for 2020[146]. - The company has a wastewater treatment capacity of 15 tons per hour at its specialized wastewater treatment station, ensuring compliance with the national discharge standards[153].

浙江钱江摩托股份有限公司 2021 年第一季度报告全文 浙江钱江摩托股份有限公司 2021 年第一季度报告 2021 年 04 月 1 浙江钱江摩托股份有限公司 2021 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人徐志豪、主管会计工作负责人江传敏及会计机构负责人(会计主 管人员)茅海敏声明：保证季度报告中财务报表的真实、准确、完整。 2 浙江钱江摩托股份有限公司 2021 年第一季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 | --- | --- | --- | --- | |-----------------------------------------------------|------------------|------------------|---------------------------| | □ 是 √ 否 | 本报告期 ...

Financial Performance - Net profit attributable to shareholders decreased by 35.98% to CNY 135,145,396.22, while revenue decreased by 8.64% to CNY 1,146,136,137.44 year-on-year[9] - Basic earnings per share decreased by 36.17% to CNY 0.30, with diluted earnings per share also at CNY 0.30[9] - The weighted average return on net assets decreased by 2.93% to 4.91%[9] - The net cash flow from operating activities decreased by 11.17% to CNY 266,032,232.81[9] - The company reported a decrease in inventory to ¥113,971,162.46 from ¥50,055,752.11, which is an increase of approximately 127.5%[55] - Net profit for the current period was ¥129,980,438.90, down from ¥210,290,418.06 in the previous period, indicating a decrease of about 38.2%[69] - The company's operating profit decreased to ¥158,460,500.59 from ¥260,017,557.02, reflecting a decline of approximately 39%[69] - The total comprehensive income for the current period was ¥130,139,602.21, compared to ¥210,270,179.14 in the previous period, a decrease of approximately 38%[72] - Basic earnings per share for the current period were ¥0.30, down from ¥0.47 in the previous period, a decline of about 36.2%[72] - Net profit for the period was CNY 227,924,033.23, a decrease of 20.3% compared to CNY 286,335,704.06 in the previous period[83] Assets and Liabilities - Total assets increased by 6.22% to CNY 5,005,815,809.07 compared to the end of the previous year[9] - The total current assets reached ¥3,491,264,507.74, compared to ¥3,156,921,072.66 at the end of 2019, indicating an increase of about 10.6%[45] - The total liabilities increased to ¥2,294,323,966.62, up from ¥2,039,088,365.52, reflecting a growth of approximately 12.5%[54] - The company's total liabilities as of September 30, 2020, were not explicitly stated but included short-term borrowings and accounts payable totaling ¥1,613,337,088.20[48] - Total liabilities amounted to CNY 2,039,088,365.52, with non-current liabilities totaling CNY 128,179,874.89[118] - Total equity attributable to shareholders reached CNY 2,698,256,416.16, while total equity was CNY 2,673,688,904.87[118] Cash Flow - Cash and cash equivalents increased by 29.74% to ¥364,697,317.93 due to higher net cash generated from operating activities[23] - The net cash flow from operating activities was ¥1,035,202,607.31, a significant increase from ¥58,585,963.85 in the previous period, reflecting a growth of approximately 1,668%[104] - Cash flow from operating activities increased to ¥739,294,445.28, up 34.8% from ¥547,759,400.69 in the previous period[97] - Cash flow from investing activities showed a net outflow of ¥68,325,389.66, compared to a net inflow of ¥171,854,199.80 in the previous period[100] - Cash flow from financing activities resulted in a net outflow of ¥258,744,269.56, contrasting with a net inflow of ¥176,212.96 in the previous period[100] Shareholder Information - The total number of shareholders at the end of the reporting period was 12,521[13] - The largest shareholder, Geely Technology Group Co., Ltd., holds 29.77% of the shares[13] Operational Metrics - Total operating revenue for the third quarter reached ¥1,146,136,137.44, an increase of 12.2% compared to ¥1,021,437,546.85 in the same period last year[63] - Total operating costs increased to ¥1,003,130,247.84 from ¥894,020,404.12, representing an increase of approximately 12.2%[66] - Research and development expenses were ¥39,422,320.84, slightly down from ¥41,649,020.59, showing a decrease of about 5.3%[66] - The company recorded investment income of ¥9,276,409.19, a decrease from ¥88,809,016.55 in the previous period, reflecting a decline of approximately 89.5%[66] Governance and Strategy - The company does not have any plans for mergers or acquisitions in the near future[22] - There were no significant non-operating fund occupations by controlling shareholders or related parties during the reporting period, reflecting good governance practices[40] - The company reported no derivative investments during the reporting period, indicating a conservative investment strategy[35]

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 1,514,337,324.16, a decrease of 19.90% compared to the same period last year[23]. - Net profit attributable to shareholders was CNY 124,615,201.87, an increase of 41.14% year-on-year[23]. - The net cash flow from operating activities reached CNY 473,262,212.47, representing a significant increase of 90.63% compared to the previous year[23]. - Basic earnings per share rose to CNY 0.27, up 42.11% from CNY 0.19 in the same period last year[23]. - Total operating revenue for the first half of 2020 was CNY 1,514,337,324.16, a decrease of 20% compared to CNY 1,890,586,802.23 in the same period of 2019[185]. - Net profit for the first half of 2020 was CNY 97,943,594.33, an increase of 28.9% compared to CNY 76,045,286.00 in the first half of 2019[188]. - The company reported a significant increase in interest income to CNY 20,954,961.85, compared to CNY 3,634,386.79 in the same period last year[185]. - Investment income showed a loss of CNY 6,819,306.55, worsening from a loss of CNY 2,460,953.62 in the previous year[185]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 5,011,278,744.24, an increase of 6.33% from the end of the previous year[23]. - The company's total liabilities amounted to CNY 1,958,980,139.76, an increase of 36.5% from CNY 1,434,868,800.76 in the previous year[181]. - Total equity decreased to CNY 1,725,119,906.18, down 11.4% from CNY 1,947,331,026.07 year-on-year[181]. - Cash and cash equivalents increased to CNY 1,813,282,387.50, representing 36.18% of total assets, up from 19.59% the previous year[56]. - Total current assets increased to CNY 3,490,235,393.03 as of June 30, 2020, up from CNY 3,156,921,072.66 at the end of 2019, representing a growth of approximately 10.55%[168]. - Total liabilities increased to CNY 2,429,926,504.00 as of June 30, 2020, up from CNY 2,039,088,365.52, reflecting a rise of about 19.2%[171]. - The company's long-term equity investments decreased to CNY 313,194,444.01 from CNY 318,013,499.70, a slight decline of about 1.5%[168]. Sales and Revenue Breakdown - Motorcycle sales volume decreased by 24.66% to approximately 150,000 units, with domestic sales down 9.75% and international sales down 43.81%[42]. - The sales of large-displacement motorcycles (over 250cc) increased by 5.73% to approximately 37,600 units[42]. - Motorcycle manufacturing revenue was CNY 1,397,532,954.05, a decrease of 9.50% year-over-year[51]. - Two-wheeler motorcycle revenue accounted for 88.07% of total revenue, totaling CNY 1,333,633,441.59, down 9.63% from the previous year[51]. - Domestic sales were CNY 1,080,615,912.25, down 14.61% year-over-year, while overseas sales fell by 30.62% to CNY 433,721,411.91 due to reduced sales from the impact of the pandemic[51][54]. - Revenue from packaging, lithium batteries, and controllers decreased by 70.36% to CNY 100,133,477.84, attributed to a significant drop in electric vehicle sales[51]. - Real estate project revenue increased by 93.78% year-over-year, reaching CNY 16,670,892.27, primarily due to new shop sales[51]. Research and Development - The company’s R&D investment rose by 13.58% to CNY 70 million[47]. - The company launched a new brand QJMOTOR, with the first model selling out 999 units in one second during a live stream[42]. Risk Management - The company has identified potential risks and formulated countermeasures for future development challenges[6]. - The company faces multiple risks including macroeconomic downturn, exchange rate fluctuations, and raw material price volatility, which could impact operational performance[82]. Shareholder Information - The largest shareholder, Geely Technology Group Co., Ltd., holds 29.77% of the shares, totaling 135,000,000 shares[137]. - The second-largest shareholder, Wenling Qianjiang Investment Management Co., Ltd., holds 11.68% of the shares, totaling 52,971,397 shares[137]. - The total number of common shareholders at the end of the reporting period was 18,447, with 10 shareholders holding more than 5%[137]. - There were no changes in the controlling shareholder or actual controller during the reporting period[144]. Environmental Compliance - The wastewater treatment station has a processing capacity of 15 tons per hour, and the company ensures that wastewater discharge meets the third-level discharge standards[116]. - The total amount of COD discharged was 0.67 tons, with a concentration of ≤500 mg/L, complying with the GB8979-1996 standards[113]. - The company is committed to environmental protection and has implemented measures to improve processes while ensuring compliance with national standards[116]. - The company has not reported any major environmental pollution issues or exceeded discharge limits during the reporting period[113]. Legal and Regulatory Matters - The company reported a lawsuit involving Zhejiang Qianjiang Lithium Battery Technology Co., Ltd. with a claim amount of 19,983.77 million yuan[92]. - The company’s subsidiary, Zhejiang Qianjiang Lithium Battery Technology Co., Ltd., is involved in ongoing litigation regarding overdue payments[124]. Dividend Policy - The company plans not to distribute cash dividends or issue bonus shares for the half-year period[86].

Financial Performance - The company's operating revenue for Q1 2020 was ¥532,045,101.72, a decrease of 40.53% compared to ¥894,626,500.96 in the same period last year[9] - Net profit attributable to shareholders was ¥15,624,383.31, an increase of 11.27% from ¥14,041,484.60 year-on-year[9] - The net profit after deducting non-recurring gains and losses reached ¥9,098,544.66, a significant increase of 275.25% compared to ¥2,424,692.48 in the previous year[9] - Net profit for Q1 2020 was CNY 3,674,821.64, a decline of approximately 46.0% from CNY 6,792,128.28 in Q1 2019[70] - The company's gross profit margin for Q1 2020 was approximately 3.2%, compared to 0.4% in the previous year, indicating an improvement in profitability despite lower revenues[70] - The total profit for the current period is 21,781,540.41, up from 16,841,837.68 in the previous period, indicating a growth of approximately 29%[78] Cash Flow - The net cash flow from operating activities was ¥121,566,462.57, down 54.24% from ¥265,656,907.94 in the same period last year[9] - Cash flow from operating activities generated a net amount of 121,566,462.57, down from 265,656,907.94 in the previous period, a decrease of approximately 54%[81] - The company reported a decrease in cash flow from investing activities, with a net cash outflow of -40,660,275.69 compared to -12,693,904.54 in the previous period[84] - The net cash flow from investing activities was -39,719,028.50, compared to 1,757,076.36 in the previous period, indicating a significant decrease in cash generated from investments[91] - The company reported a net increase in cash and cash equivalents of -¥162,371,173.19, a decrease of 39.14%, influenced by operating, investing, and financing activities[27] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,811,994,645.87, reflecting a growth of 2.11% from ¥4,712,777,270.39 at the end of the previous year[9] - Total liabilities as of March 31, 2020, were approximately CNY 2.13 billion, up from CNY 2.04 billion, indicating an increase of about 4.5%[52] - The total equity attributable to shareholders of the parent company increased to approximately CNY 2.71 billion from CNY 2.70 billion, reflecting a growth of about 0.6%[55] - The total liabilities of the company as of the end of Q1 2020 were CNY 1,443,535,649.37, slightly up from CNY 1,434,868,800.76[62] Shareholder Information - The top shareholder, Geely Technology Group Co., Ltd., holds 29.77% of the shares, with a total of 135,000,000 shares pledged[14] Research and Development - Research and development expenses increased by ¥11,948,713.47, a rise of 51.27%, due to investments in new product molds during the reporting period[24] - Research and development expenses increased to CNY 35,255,582.00, up from CNY 23,306,868.53, representing a growth of about 51.4% year-over-year[67] Financial Management - Financial expenses decreased by ¥40,960,693.38, a reduction of 175.57%, due to increased interest income from time deposits and foreign exchange gains from subsidiaries[24] - The company reported a financial expense of CNY -17,630,237.19, a significant decrease from CNY 23,330,456.19 in the previous year, indicating improved financial management[67] Other Financial Metrics - The weighted average return on net assets was 0.58%, slightly up from 0.56% in the previous year[9] - The company reported a non-operating income of ¥6,525,838.65 during the reporting period[9] - The company experienced a significant decline in investment income, down by ¥18,653,677.20, a decrease of 287.42%, due to losses from equity investments[24] - The company reported a 64.66% increase in income tax expenses, amounting to an increase of ¥6,807,987.15, due to higher current income tax obligations[24] Current Assets - As of March 31, 2020, the total current assets amounted to approximately CNY 3.25 billion, an increase from CNY 3.16 billion as of December 31, 2019, representing a growth of about 2.6%[46] - Cash and cash equivalents increased to approximately CNY 1.54 billion from CNY 1.23 billion, reflecting a growth of about 25.4%[46] - Accounts receivable decreased to approximately CNY 453.46 million from CNY 657.47 million, a decline of about 30.9%[46] - Inventory increased slightly to approximately CNY 878.12 million from CNY 865.90 million, showing a growth of about 1.3%[46] Employee Compensation - The company reported a decrease in employee compensation payable to approximately CNY 47.72 million from CNY 73.73 million, a reduction of about 35.3%[52] Accounting Practices - The company did not apply new revenue and lease standards for the first quarter of 2020, indicating stability in accounting practices[92] - The first quarter report was not audited, which may affect the reliability of the financial data presented[94]