Financial Performance - The company reported a total revenue of 15,456,288,000 with a decrease of 441,000 compared to the previous period[58]. - The company's operating revenue for 2022 was ¥783,172,718.60, a decrease of 5.09% compared to ¥825,170,423.45 in 2021[179]. - The net profit attributable to shareholders for 2022 was -¥908,880,025.58, representing a 28.82% increase in losses compared to -¥705,532,147.28 in 2021[179]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥1,012,729,528.40, which is a 51.98% improvement compared to -¥2,109,073,037.70 in 2021[179]. - The net cash flow from operating activities for 2022 was ¥218,931,398.32, a significant increase of 116.26% from -¥1,346,248,895.76 in 2021[179]. - The basic and diluted earnings per share for 2022 were both -¥0.18, an improvement of 43.75% from -¥0.32 in 2021[179]. - The total revenue after deducting sales materials, processing fees, and rental income was ¥715,192,844.11 in 2022, compared to ¥777,749,978.76 in 2021[181]. - The company reported a total non-operating income and expenses of approximately ¥103.85 million for 2022, a significant decrease from ¥1.40 billion in 2021[185]. - The company reported a total of 3000 million shares held by major shareholders, with Liu Ya holding 26.32% of the shares[63]. - The company’s total share capital increased from 2,027,671,288 shares to 5,069,178,220 shares due to capital reserve conversion, with Jiangsu Shen Shang holding 24.22% of shares, becoming the largest shareholder[160]. Corporate Governance - The company has maintained a strong focus on corporate governance, emphasizing its importance in operations[23]. - The board of directors has established four specialized committees to support decision-making, including the strategy, compensation and assessment, nomination, and audit committees[24]. - The company has ensured compliance with information disclosure regulations, providing accurate and timely information to investors, thereby enhancing transparency[26]. - The company operates independently from its controlling shareholders, maintaining a complete business system and market competitiveness[28]. - The company has conducted regular communication with investors through hotline calls to address inquiries and provide updates on its fundamentals[21]. - The company has maintained a clear separation of assets and operations from its controlling shareholders, ensuring operational independence[28]. - The company has established a complete corporate governance structure and is committed to improving governance levels to protect the interests of investors[46]. - The board of directors consists of members with strong professional backgrounds and rich work experience, ensuring effective decision-making and compliance with legal requirements[47]. - The company has appointed independent directors with expertise in finance to provide valuable insights for operational development[48]. - The company has successfully elected new supervisory board members to ensure continuity in governance following the departure of previous members[35]. - The company’s governance and decision-making processes were conducted in accordance with relevant laws and regulations, ensuring the interests of minority shareholders were considered[73]. - The company has not reported any penalties from securities regulatory agencies for its directors, supervisors, and senior management in the past three years[65]. - The total annual remuneration for directors, supervisors, and senior management as of December 31, 2022, amounted to CNY 5.4441 million, with independent directors receiving a total of CNY 300,000 in allowances[92]. - The company has a total of 10 independent directors, all of whom are actively involved in governance and oversight[94]. - The company has proposed candidates for the eighth board of directors, including independent and non-independent directors, following the expiration of the seventh board's term[113]. Internal Control and Compliance - The company has established a comprehensive internal control system that effectively covers major aspects of its operations without significant omissions[2]. - The internal control system is continuously improved, with effective supervision from the board of directors and the supervisory board, ensuring no significant omissions in management[120]. - The company reported zero significant defects in financial reporting internal controls[126]. - The internal control audit report issued a standard unqualified opinion, confirming the effectiveness of internal controls as of December 31, 2022[126]. - The company received a standard unqualified internal control audit report on April 25, 2022, confirming effective financial reporting internal controls as of December 31, 2021[108]. - The company resolved the issue of non-standard internal control audit reports from 2020 through various corrective measures implemented in 2021[108]. - The company has not disclosed any major discrepancies between the financial indicators in the quarterly and semi-annual reports[182]. - The company has not engaged in any unauthorized use of funds or resources by controlling shareholders[28]. Market Strategy and Product Development - The company is set to launch new energy vehicle models in 2023, including A0, A, and B-class vehicles, with increased investment in human resources and funding for product development[13]. - The T300 model has resumed production, with the new vehicle successfully rolling off the production line on October 20, 2022, marking a return to operational status[18]. - The company aims to enhance production efficiency and reduce unit costs by expanding production scale and adopting lean management practices[16]. - The company is focusing on talent acquisition and training to address the shortage of high-end professionals necessary for its development[18]. - The company aims to strengthen domestic and international market development, focusing on U2 and other new energy products in the domestic market, while promoting traditional products like T300 in international markets[37]. - The company plans to continuously promote cost reduction and efficiency improvement, establishing a high-efficiency and agile organization to support overall strategic development[39]. - The company is focusing on expanding its market presence and enhancing product development strategies[60]. - The company launched its first new energy vehicle in February 2023, marking a significant step in its product development strategy[192]. - The company has indicated uncertainty regarding its ability to continue as a going concern, with negative net profits for the last three accounting years[196]. Employee Relations and Welfare - The total number of employees at the end of the reporting period was 2,459, with 1,424 in production, 448 in technical roles, and 108 in sales[117]. - The company has a total of 2,478 employees receiving salaries during the reporting period[117]. - The company emphasizes employee training and development, conducting various training programs for new and existing employees to enhance skills and capabilities[119]. - The company is committed to enhancing employee benefits and adjusting compensation based on operational performance and local living standards[119]. - The company is focused on enhancing employee rights by providing full social insurance and housing provident fund contributions as per legal requirements[78]. - The company has 33 retired employees who require financial support, indicating a focus on employee welfare[117]. - The company is committed to ensuring the protection of employee rights through legally binding labor contracts and social insurance contributions[78]. Investor Relations - The company has been actively engaging with investors through hotline calls to discuss its fundamentals, without providing written materials[20]. - No specific financial performance metrics or user data were disclosed during the calls[20]. - The company has not outlined any future guidance or outlook in the provided communications[20]. - There is no mention of new product or technology development in the discussions[20]. - Market expansion strategies or mergers and acquisitions were not addressed in the investor communications[20]. - The company has maintained a consistent approach to investor relations by providing verbal updates only[20]. - The frequency of investor calls indicates a commitment to transparency, although details remain limited[20]. - Overall, the communications focused on basic company information without delving into detailed financial analysis[20]. Challenges and Risks - The company faces significant challenges due to intensified competition from new automotive forces, stricter regulatory requirements, rising raw material prices, and tight chip supply[40]. - The company emphasizes the importance of cost management and strict quality control in the procurement of automotive parts to enhance profitability[40]. - The automotive manufacturing industry is expected to face challenges in 2022, but there is potential for recovery in 2023 as economic growth resumes[190]. - The company emphasizes the importance of risk awareness regarding future plans and development strategies, highlighting potential market risks[138].

众泰汽车股份有限公司 3.第一季度报告是否经审计 6 3、合并现金流量表 证券代码：000980 证券简称：众泰汽车 公告编号：2023-027 重要内容提示： □是 否 众泰汽车股份有限公司 2023 年第一季度报告 公司是否需追溯调整或重述以前年度会计数据 （二） 非经常性损益项目和金额 □适用 不适用 公司不存在其他符合非经常性损益定义的损益项目的具体情况。 将《公开发行证券的公司信息披露解释性公告第 1 号——非经常性损益》中列举的非经常性损益项目界定为经常性损益 项目的情况说明 □适用 不适用 公司不存在将《公开发行证券的公司信息披露解释性公告第 1 号——非经常性损益》中列举的非经常性损益项目界定为 经常性损益的项目的情形。 （三） 主要会计数据和财务指标发生变动的情况及原因 3 众泰汽车股份有限公司 2023 年第一季度报告 | --- | --- | --- | --- | --- | --- | --- | --- | |-------------------------------------------------|-----------------|------------------ ...

Financial Performance - The company's operating revenue for 2022 was ¥783,172,718.60, a decrease of approximately 5.1% compared to ¥825,170,423.45 in 2021[48]. - After deducting sales materials, processing fees, and rental income, the net operating revenue was ¥715,192,844.11, down from ¥777,749,978.76 in the previous year, indicating a decline of about 8%[48]. - The net profit attributable to shareholders for 2022 was -¥908,880,025.58, representing a 28.82% increase in losses compared to -¥705,532,147.28 in 2021[86]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥1,012,729,528.40, a 51.98% improvement from -¥2,109,073,037.70 in 2021[86]. - The total profit for the year was -¥914,114,640.04, representing a decline of 27.61% compared to the previous year[127]. - The company's revenue from the transportation equipment manufacturing sector was approximately ¥354.61 million, with a gross margin of 7.21%, reflecting a year-on-year revenue decrease of 5.51%[112]. - The furniture manufacturing sector reported revenue of approximately ¥428.56 million, down 12.37% year-on-year, with a gross margin of 13.50%[112]. Assets and Liabilities - Total assets amounted to CNY 2,936,336,187.55, with cash and cash equivalents at CNY 893,499,193.27, accounts receivable at CNY 340,295,040.00, and fixed assets at CNY 639,900,967.48[12]. - Total assets at the end of 2022 were ¥7,120,922,650.31, down 11.13% from ¥8,013,172,226.55 at the end of 2021[87]. - The net assets attributable to shareholders at the end of 2022 were ¥2,436,945,080.50, a decrease of 29.21% from ¥3,442,356,669.19 at the end of 2021[87]. - Cash and cash equivalents decreased by 37.71% to ¥1,009,519,515.63, mainly due to payments to suppliers and R&D expenses[145]. - The total amount of cash and cash equivalents at the end of the period was 116,020,322.36, reflecting a 237.30% increase from the beginning balance[147]. Operational Developments - The company resumed vehicle production in 2022 after nearly two years of stagnation, with the first batch of vehicles rolling off the production line on October 20, 2022[79]. - The first new energy vehicle was launched in February 2023, and the company has initiated brand marketing and sales system development[79]. - The company has restructured its core functions in production, sales, and research and development[79]. - The company is currently developing the B41 vehicle project, aimed at creating a new energy vehicle that meets market demand[142]. - The company has established an international department to develop its overseas sales system[81]. Market and Industry Trends - In 2022, China's automotive production and sales reached 27.02 million and 26.86 million units, respectively, with year-on-year growth of 3.4% and 2.1%[74]. - The automotive industry in China is undergoing significant transformation, with a focus on new energy and intelligent connected vehicles[75]. - The automotive market is expected to grow by approximately 3% in 2023, driven by improved chip supply and supportive policies[195]. Strategic Initiatives - The company plans to not distribute cash dividends, nor issue bonus shares, or convert reserves into share capital[31]. - The company is actively expanding into overseas markets as part of its growth strategy[131]. - The company plans to issue A-shares to specific investors to raise funds for product development and channel construction, with the proposal approved by the board on June 11, 2022[127]. - The company aims to establish a broad sales network in 2023, focusing on first-tier cities while also targeting second and third-tier cities, and will enhance digital marketing efforts across various platforms[179]. - The company is implementing a diversified funding plan to improve capital efficiency and reduce costs, ensuring a stable financial chain[199]. Governance and Compliance - The company has maintained a strict separation from its controlling shareholder in terms of assets, personnel, finance, business, and organization, ensuring independent operational capabilities[20]. - The company has confirmed that all board members attended the meeting to review the annual report, ensuring governance compliance[28]. - The company has committed to disclosing all relevant information through designated media, ensuring compliance with regulatory requirements[52]. Research and Development - The company is focusing on research and innovation in new materials and technologies, including aluminum alloys and carbon fiber composites, achieving significant progress[102]. - Research and development investment surged to 144,808,618.59, a 590.94% increase from 20,958,255.76 in the previous year, accounting for 18.49% of operating revenue[161]. - The number of R&D personnel surged by 682.35% to 266, with a significant increase in educational qualifications among staff[142]. Risks and Challenges - The company has acknowledged potential risks in its operations, including macroeconomic factors and market volatility[6]. - The company faces challenges from increased competition, regulatory requirements, and rising raw material costs, which may impact its operational stability[182]. - The automotive manufacturing industry is expected to face challenges in 2023, but there is potential for stable growth as macroeconomic conditions improve[76].

证券代码：000980 证券简称：众泰汽车 编号：001 众泰汽车股份有限公司投资者关系活动记录表 | --- | --- | --- | |----------------|--------------------------------|-----------------------------------------| | | | | | 投资者关系活动 | √ 特定对象调研 | □ 分析师会议 | | 类别 | □ 媒体采访 | □ 业绩说明会 | | | □ 新闻发布会 | □ 路演活动 | | | □ 现场参观 | | | | □ | 其他 （请文字说明其他活动内容） | | 参与单位名称及 | 方正证券股份有限公司 | | | 人员姓名 | 孙浩然、于特 | | | 时间 | 2018 年 5 月 22 日 | | | 地点 | 杭州益维汽车有限公司四楼会议室 | | | 上市公司接待人 | 董事会秘书 杨海峰 | | | 员姓名 | 汽车工程研究院副院长 赵春 | | | 投资者关系活动 | 1 、投资者提问：公司 | 2018 年一季度整车板块利润多少？ | | 主要内容介绍 | 回答：公司 ...

证券代码：000980 证券简称：众泰汽车 众泰汽车股份有限公司投资者关系活动记录表 编号：002 | --- | --- | --- | |----------------|--------------------------------|--------------------------------------------------------| | | | | | 投资者关系活动 | √ 特定对象调研 | □ 分析师会议 | | 类别 | □ 媒体采访 | □ 业绩说明会 | | | □ 新闻发布会 | □ 路演活动 | | | □ 现场参观 | | | | □ | 其他 （请文字说明其他活动内容） | | 参与单位名称及 | 浙商证券股份有限公司 | | | 人员姓名 | 郑丹丹 | | | 时间 | 2018 年 7 月 25 日 | | | 地点 | 永康众泰汽车有限公司三楼会议室 | | | 上市公司接待人 | 董事会秘书 杨海峰 | | | 员姓名 | 众泰新能源汽车有限公司 熊洪斌 | | | 投资者关系活动 | 1 | 、投资者提问：众泰汽车目前主要生产基地有哪些？ | | 主要内容介 ...

证券代码：000980 证券简称：众泰汽车 编号：003 众泰汽车股份有限公司投资者关系活动记录表 | --- | --- | --- | |----------------|----------------------------------|------------------------------------------------------| | | | | | 投资者关系活动 | √ 特定对象调研 | □ 分析师会议 | | 类别 | □ 媒体采访 | □ 业绩说明会 | | | □ 新闻发布会 | □ 路演活动 | | | □ 现场参观 | | | | □ | 其他 （请文字说明其他活动内容） | | 参与单位名称及 | 永丰证券投资顾问股份有限公司 | | | 人员姓名 | 张银成、刘俊麟 | | | 时间 | 2018 年 9 月 18 日 | | | 地点 | 永康众泰汽车有限公司专家楼会议室 | | | 上市公司接待人 | 董事会秘书 杨海峰 | | | 员姓名 | 徐晖 | | | 投资者关系活动 | 1 | 、投资者提问：我们对公司的新能源汽车感兴趣，请问贵公 | | 主要内容介绍 ...

Financial Performance - Total revenue for Q3 2022 was ¥187,962,537.68, a decrease of 17.36% compared to the same period last year[6] - Net profit attributable to shareholders was -¥139,646,587.67, an increase in loss of 41.22% year-on-year[6] - Net profit excluding non-recurring items was -¥142,491,627.38, reflecting a 40.35% increase in loss compared to the previous year[6] - Basic and diluted earnings per share were both -¥0.03, showing an improvement of 75.00% compared to the same period last year[6] - The net loss attributable to shareholders of the parent company was CNY -417,016,120.44, compared to a net loss of CNY -990,171,702.14 in the previous year[29] - The total comprehensive loss for the period was CNY -416,930,937.14, compared to CNY -990,132,331.03 in the previous year[29] Cash Flow - Cash flow from operating activities was -¥170,293,660.55, a decrease of 21.46% year-on-year[6] - The net cash flow from operating activities for the current period is -170,293,660.55 CNY, an improvement from -216,834,224.87 CNY in the previous period[33] - Total cash inflow from operating activities is 773,775,880.30 CNY, slightly down from 783,677,227.69 CNY year-over-year[33] - Cash outflow from operating activities decreased to 944,069,540.85 CNY from 1,000,511,452.56 CNY in the previous period[33] - The net cash flow from investing activities is 256,882,641.07 CNY, a significant increase from -3,711,798.18 CNY in the previous period[33] - Cash inflow from financing activities is 506,016,548.09 CNY, down from 700,066,250.84 CNY year-over-year[33] - The net cash flow from financing activities is -17,586,834.49 CNY, compared to 185,371,393.88 CNY in the previous period[33] - The ending balance of cash and cash equivalents is 103,417,097.30 CNY, up from 23,708,951.06 CNY in the previous period[36] Assets and Liabilities - Total assets at the end of the period were ¥7,662,364,116.53, down 4.38% from the end of the previous year[6] - Total assets decreased from 8,013,172,226.55 CNY to 7,662,364,116.53 CNY[20] - Current assets decreased from 4,493,919,944.23 CNY to 4,104,256,003.79 CNY[20] - Cash and cash equivalents decreased from 1,620,763,981.40 CNY to 1,246,552,296.36 CNY[20] - Fixed assets decreased from 1,886,067,273.37 CNY to 1,679,981,050.93 CNY[20] - The total liabilities reached CNY 4,632,374,507.92, compared to CNY 4,566,251,680.80 in the previous period, showing an increase of 1.5%[23] - The total equity attributable to shareholders of the parent company decreased to CNY 3,025,340,548.75 from CNY 3,442,356,669.19, a decline of 12.1%[23] Research and Development - Research and development expenses increased by 131.94% to ¥15,141,909.78 compared to the previous period[11] - Research and development expenses increased to CNY 15,141,909.78, up from CNY 6,528,323.39, representing a growth of 131.5% year-over-year[27] Operational Metrics - Operating profit loss was -¥423,012,204.51, a reduction in loss of 56.79% compared to the previous year[11] - The company reported a gross profit margin of approximately -81.5% for the quarter, indicating significant cost pressures[27] - The company’s cash flow from operating activities remains a critical focus area for future recovery strategies[27] - The company paid 186,790,301.65 CNY to employees, an increase from 112,488,551.70 CNY in the previous period[33] Tax and Refunds - Tax refunds increased by 193.26% to 100,066,352.00 CNY, mainly due to an increase in VAT refunds[14] - The company received tax refunds amounting to 100,066,352.00 CNY, significantly higher than 34,121,807.36 CNY in the previous period[33] Supplier and Prepayments - The company reported a significant increase of 874.32% in prepayments to suppliers, totaling ¥117,850,674.97[11]

Financial Performance - The company reported a total revenue of 1.5 billion CNY for the first half of 2022, representing a year-on-year decrease of 15%[25]. - The net loss for the first half of 2022 was 300 million CNY, compared to a net loss of 250 million CNY in the same period last year, indicating a worsening financial situation[25]. - The company's operating revenue for the reporting period was ¥297,851,317.26, a decrease of 22.50% compared to the same period last year[32]. - The net profit attributable to shareholders was -¥277,369,532.77, representing a 63.15% reduction in losses year-on-year[32]. - The company achieved a profit margin improvement with a total profit of -¥277,526,180.28, a reduction in losses by 63.19% year-on-year[41]. - The company reported a net profit of -¥218,070,354.51 from its subsidiary Yongkang Zotye Automobile Co., Ltd., indicating significant financial challenges[68]. - The company reported a net loss of CNY 545,275,053.40 for the first half of 2022, compared to a loss of CNY 517,026,404.38 in the same period of 2021[162]. - The total comprehensive income attributable to the parent company for the first half of 2022 was -278.39 million, compared to -753.98 million in the same period last year, indicating a reduction of approximately 63.1%[168]. - The total comprehensive income for the first half of 2022 was -28,248,649.02 CNY, compared to -88,115,207.24 CNY in the same period of 2021, indicating an improvement[175]. Assets and Liabilities - The total assets of the company as of June 30, 2022, were 5.2 billion CNY, a decrease of 10% compared to the end of 2021[25]. - The total assets of the company were reported at CNY 3,541,926,632.32, reflecting the company's asset base[187]. - Cash and cash equivalents at the end of the reporting period amounted to ¥1,389,324,923.23, representing 17.93% of total assets, a decrease of 2.30% from the previous year[58]. - Total liabilities increased to CNY 2,088,029,706.83 from CNY 1,993,447,433.09 at the beginning of the year[162]. - The total equity attributable to shareholders decreased to CNY 4,391,698,004.30 yuan[199]. Operational Strategy - The company plans to focus on the development of new energy vehicles, aiming to launch two new electric models by the end of 2022[25]. - The company is exploring potential mergers and acquisitions to enhance its market position and expand its product offerings[25]. - The company aims to raise funds through a non-public offering of A-shares to support product development and channel construction[46]. - The company is actively seeking partnerships with technology firms to enhance its R&D capabilities in smart vehicle technology[25]. - The management highlighted the importance of addressing operational risks and has outlined strategies to mitigate these risks in the upcoming quarters[25]. Research and Development - Research and development expenses increased significantly to ¥35,064,125.18, up 656.12% year-on-year[41]. - Research and development investment surged by 656.12% to ¥35.06 million, compared to ¥4.64 million in the previous year, indicating a renewed focus on vehicle development projects[52]. - Research and development expenses increased to 10.68 million from 4.64 million year-on-year, representing a growth of about 130.5%[165]. Shareholder Information - No cash dividends will be distributed to shareholders for the current fiscal year, as the company aims to reinvest in its operations[7]. - The total number of ordinary shareholders at the end of the reporting period was 8,220[127]. - The largest shareholder, Tieniu Group, holds 15.51% of the shares, amounting to 786,250,375 shares[127]. - The company has not engaged in any major related party transactions during the reporting period[103]. Market Conditions - User data indicates a decline in vehicle sales, with a total of 10,000 units sold in the first half of 2022, down 20% from the previous year[25]. - The automotive industry saw a total production and sales volume exceeding 12 million vehicles, with a year-on-year decline of 3.7% and 6.6% respectively[45]. - The market share of new energy vehicles reached 21.6%, with production and sales of 266.1 million and 260 million units respectively, showing a year-on-year growth of 120%[45]. - The company anticipates risks from potential adjustments to new energy subsidy policies, which may lead to a decline in market demand for new energy vehicles[73]. - The automotive manufacturing industry remains highly competitive, with increasing demands for quality and service beyond price, posing challenges for the company's market position[73]. Financial Management - The financial expenses decreased by 66.93% to ¥32.46 million, attributed to reduced borrowing following the company's restructuring in 2021[52]. - The company recorded a credit impairment loss of -27.94 million, a significant improvement from -309.80 million in the previous year[165]. - The company has established a comprehensive occupational health and safety management system to safeguard employee rights[89]. - The company is committed to social responsibility, participating in public welfare activities and supporting employees in need[90].

众泰汽车股份有限公司 2022 年第一季度报告全文 1 证券代码：000980 证券简称：*ST 众泰 公告编号：2022-044 众泰汽车股份有限公司 2022 年第一季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准 确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带 的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声 明：保证季度报告中财务信息的真实、准确、完整。 3.第一季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (一)主要会计数据和财务指标 | --- | --- | --- | --- | |-----------------------------------------------------|------------------|------------------|---------------------------| | | | | | | □ 是 √ 否 | 本报告期 | 上年同期 | 本 ...

Financial Performance - In 2021, the company's audited operating revenue was approximately ¥825.17 million, with the adjusted revenue being ¥777.75 million after excluding non-core business income[10]. - The net profit attributable to shareholders was approximately -¥705.53 million, and the net profit after deducting non-recurring gains and losses was approximately -¥2.11 billion[10]. - The company's operating revenue for 2021 was ¥825,170,423.45, a decrease of 38.34% compared to ¥1,338,170,049.27 in 2020[39]. - The net profit attributable to shareholders for 2021 was -¥705,532,147.28, showing a 93.18% improvement from -¥10,342,651,133.13 in 2020[39]. - The total profit for 2021 was -¥716,354,708.22, reflecting a 92.79% reduction in losses year-over-year[73]. - The net cash flow from operating activities was -¥1,346,248,895.76, a slight improvement of 4.47% compared to -¥1,409,212,776.83 in 2020[39]. - The total operating costs for 2021 were ¥736,678,266.74, a decrease of 47.16% from ¥1,392,752,220.55 in 2020[85]. - The cash inflow from operating activities in 2021 was ¥3,968,396,929.31, an increase of 184.64% compared to ¥1,394,202,021.54 in 2020[95]. - The total cash outflow from operating activities in 2021 was ¥5,314,645,825.07, an increase of 89.58% from ¥2,803,414,798.37 in 2020[95]. - The company reported a significant reduction in direct material costs, which were ¥531,451,362.00 in 2021, representing 72.14% of total operating costs[85]. Restructuring and Operational Changes - The company successfully completed its restructuring plan, leading to the resolution of non-operational fund occupation issues and the lifting of bank account freezes[10]. - The company has applied to the Shenzhen Stock Exchange to lift the delisting risk warning due to improved financial conditions[9]. - The company is focusing on optimizing its asset-liability structure and enhancing its operational capabilities following the restructuring[10]. - The company underwent significant changes in its main business operations after acquiring 100% of Yongkang Zotye in 2017, shifting its focus to complete vehicles and parts[36]. - The company completed its restructuring work in 2021, aligning with previously disclosed development strategies and operational plans[123]. - The company is gradually resolving issues related to resuming production and operations, which is a complex system engineering task[123]. - The company is undergoing a restructuring phase, which has significantly impacted cash flow and operational stability[98]. Market and Industry Context - The automotive industry in China saw a total production and sales volume of 26.08 million and 26.27 million vehicles in 2021, representing year-on-year growth of 3.4% and 3.8% respectively[53]. - New energy vehicles achieved production and sales of 3.545 million and 3.521 million units in 2021, marking a year-on-year increase of 160% and capturing a market share of 13.4%[53]. - The automotive market is undergoing a transformation, with the company positioned as a latecomer in the industry but possessing significant growth potential[53]. - The company is positioned to benefit from national policies promoting the development of new energy vehicles as part of the "14th Five-Year Plan"[70]. - The company has participated in the formulation of multiple industry standards for new energy vehicles, enhancing its influence in the sector[71]. Governance and Management - The company has established a governance structure that complies with relevant laws and regulations, ensuring effective operation of the board of directors, supervisory board, and shareholders' meeting[135]. - The board of directors consists of members with strong professional backgrounds and experience, ensuring compliance with legal requirements[137]. - The company maintains a high level of transparency in information disclosure, ensuring timely and accurate communication with investors[139]. - The governance structure is designed to protect the rights and interests of all shareholders, particularly minority investors[139]. - The company has implemented robust internal control systems to enhance operational efficiency and safeguard investor interests[139]. - The company has established an independent financial accounting department, adhering to relevant financial regulations and maintaining a complete accounting system[3]. Future Plans and Strategies - The company plans to invest approximately 500 million in capital expenditures for 2022, with capital costs not exceeding 30 million[118]. - The company aims to restore and optimize traditional businesses while expanding new businesses to achieve rapid performance recovery[114]. - The company will focus on core business areas and implement a "new four modernizations" strategy, including electrification and intelligent networking[114]. - The company plans to enhance product design and development to quickly launch competitive products in the market[118]. - The company will actively seek diversified financing methods to support future development[117]. - The company faces risks related to uncertain recovery timelines for production resumption and potential impacts from global economic conditions[119]. Employee and Management Changes - The total number of employees at the end of the reporting period is 1,612, with 1,046 in production, 102 in sales, and 154 in technical roles[197]. - The company has experienced a turnover in its executive team, with several key positions, including Chairman and President, being vacated due to personal reasons[156]. - The company appointed a new Chief Financial Officer, Ms. Yu Lili, on December 30, 2021, to enhance financial management[159]. - The management team includes individuals with backgrounds in finance and investment analysis, contributing to informed decision-making[169]. - The performance evaluation of senior management is based on the company's operational performance and individual contributions[174].