Financial Performance - The company's revenue for Q3 2022 reached ¥5,439,032,736.83, representing a year-on-year increase of 34.44%[3] - The net profit attributable to shareholders for Q3 2022 was ¥624,458,568.07, up 33.06% compared to the same period last year[3] - The company's basic earnings per share for Q3 2022 was ¥0.17, a rise of 30.77% year-on-year[3] - Total operating revenue for the third quarter reached ¥15,598,985,732.35, an increase of 33.8% compared to ¥11,719,880,371.31 in the same period last year[16] - Net profit for the quarter was ¥1,649,952,196.01, representing a 25.7% increase from ¥1,311,970,699.37 in the previous year[17] - The total comprehensive income for the period reached CNY 1,795,299,261.79, compared to CNY 1,261,149,595.00 in the previous period, reflecting a significant increase[18] - The company's total revenue from sales of goods and services was CNY 14,855,473,805.85, compared to CNY 11,954,434,945.78 in the previous period, indicating strong growth[19] Assets and Liabilities - The total assets at the end of Q3 2022 amounted to ¥26,330,760,574.69, which is an increase of 11.48% from the end of the previous year[3] - The company's total liabilities reached ¥14,173,392,582.18, compared to ¥12,367,376,151.18 in the previous year, indicating a growth of 14.6%[16] - The company's total equity attributable to shareholders at the end of Q3 2022 was ¥12,032,779,362.50, reflecting a 7.91% increase from the end of the previous year[3] - The total assets of the company reached ¥26,330,760,574.69, compared to ¥23,619,966,759.91 in the previous year, indicating a growth of 11.4%[16] Cash Flow - The operating cash flow net amount for the year-to-date period was ¥1,752,186,031.98, reflecting a significant increase of 50.21%[3] - The net cash flow from operating activities was CNY 1,056,630,906.28, down from CNY 1,160,606,172.92 in the same period last year[19] - The net cash flow from investment activities in the first three quarters decreased by 50.33% year-on-year, primarily due to increased cash payments for the acquisition of fixed assets and other long-term assets[10] - The net cash flow from financing activities in the first three quarters decreased by 307,057.97 million yuan, mainly due to the issuance of convertible bonds in the same period last year[10] - Cash and cash equivalents decreased to 5,444,190,607.12 yuan from 6,707,721,861.13 yuan in the previous period[15] - Cash and cash equivalents at the end of the period totaled CNY 1,612,043,320.24, a decrease from CNY 5,858,798,210.07 at the end of the previous period[19] - The total cash inflow from financing activities was CNY 2,154,933,907.69, down from CNY 3,671,652,300.00 in the previous period[19] - The net increase in cash and cash equivalents was negative CNY 1,077,958,904.85, contrasting with a positive increase of CNY 2,458,654,171.53 in the previous period[19] Expenses - Research and development expenses increased by 41.46% year-on-year, driven by the growth in R&D projects[9] - Research and development expenses increased to ¥734,102,182.60, a rise of 41.5% compared to ¥518,960,094.41 in the same quarter last year[17] - The company experienced a 32.91% increase in operating costs year-on-year, primarily due to the rise in revenue[8] - Total operating costs amounted to ¥13,392,914,300.05, up from ¥11,678,670,931.60, reflecting a year-over-year increase of 14.7%[17] - The company's operating costs for the first three quarters were adjusted to 8,787,057,583.06 yuan, an increase of 250,294,253.29 yuan from the previous reporting period[10] - The company reported a significant increase in sales expenses to ¥362,745,971.20, up from ¥283,626,945.00, reflecting a 28.0% increase year-over-year[17] - The financial expenses showed a notable change, with a net financial income of -¥219,106,102.23 compared to a positive income of ¥25,685,786.97 in the previous year[17] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 64,841, with the largest shareholder, Sanhua Holdings Group Co., Ltd., holding 27.37% of shares[11]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥10,159,952,995.52, representing a 32.39% increase compared to ¥7,674,081,761.69 in the same period last year[12]. - Net profit attributable to shareholders was ¥1,003,187,335.23, up 21.76% from ¥823,881,221.70 year-on-year[12]. - The net profit after deducting non-recurring gains and losses was ¥1,030,047,529.50, reflecting a 43.11% increase from ¥719,771,655.78 in the previous year[12]. - The basic earnings per share increased to ¥0.28, a rise of 21.74% compared to ¥0.23 in the same period last year[12]. - The operating profit for the same period was 1.238 billion yuan, up 22.82% year-on-year[21]. - The total profit for the first half of 2022 was CNY 1,239,424,052.57, compared to CNY 1,007,084,200.68 in the same period last year, marking a growth of 23%[123]. - The total comprehensive income for the first half of 2022 was CNY 1,101,962,139.89, compared to CNY 819,230,444.00 in the same period last year, reflecting a growth of 34.5%[124]. Assets and Liabilities - Total assets at the end of the reporting period were ¥25,411,743,393.51, which is a 7.59% increase from ¥23,619,966,759.91 at the end of the previous year[12]. - The total liabilities as of June 30, 2022, were CNY 8,968,191,816.08, compared to CNY 8,341,244,436.14 at the start of the year, showing an increase of about 7.5%[122]. - The debt-to-asset ratio is 53.58%, which is an increase of 1.22% compared to the previous year[116]. - The company's short-term borrowings increased to CNY 1,105,569,060.98 from CNY 738,190,910.54 in the previous year[119]. Cash Flow - The net cash flow from operating activities was ¥761,013,129.16, down 7.78% from ¥825,216,623.26 in the same period last year[12]. - The total cash inflow from operating activities for the first half of 2022 was CNY 9,933,064,171.10, an increase of 21.2% compared to CNY 8,197,397,242.59 in the first half of 2021[128]. - The net cash flow from investing activities was negative CNY 1,493,780,685.20, worsening from negative CNY 313,010,482.60 in the first half of 2021[128]. - The net cash flow from financing activities was negative CNY 123,929,030.92, a significant decline from positive CNY 2,299,821,228.74 in the first half of 2021[129]. Revenue Sources - The revenue from the refrigeration and air conditioning electrical components business was 6.961 billion yuan, a year-on-year increase of 25.13%[21]. - The automotive components business generated revenue of 3.199 billion yuan, marking a significant year-on-year increase of 51.53%[21]. - Domestic sales accounted for 51.55% of total revenue, increasing by 41.42% year-on-year, while international sales represented 48.45%, with a year-on-year growth of 23.97%[26]. Research and Development - Research and development investment amounted to ¥478,918,631.31, a 35.99% increase compared to the previous year, focusing on enhancing product value and competitiveness through continuous investment[25]. - The company has obtained 3,087 domestic and international patents, including 1,498 invention patents, showcasing its commitment to innovation[19]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of ¥1.00 per 10 shares to all shareholders, based on a total share capital of 3,586,507,315 shares as of August 10, 2022[2]. - The cash dividend amount distributed to shareholders is 433,220,062.50 CNY, with a per-share dividend of 1.00 CNY[63]. - The distributable profit for the first half of 2022 was CNY 1,278,977,230.25, with a cash dividend payout ratio of 100%[64]. Environmental Initiatives - The company has implemented pollution control measures, including two wastewater treatment plants and online monitoring systems for discharge standards[70]. - The total COD emissions were reported at 22.27 tons, well below the annual limit of 61.867 tons, indicating compliance with environmental standards[69]. - The company has actively engaged in environmental protection initiatives, including the "zero direct discharge" policy for wastewater[70]. Corporate Governance - The company has established a robust governance structure to attract and retain talent through continuous stock incentive programs[65]. - The company has committed to not engaging in any competition with its subsidiaries, ensuring fair practices in related transactions[75]. - The company has not engaged in any related party transactions during the reporting period, ensuring transparency and compliance[79]. Market Strategy - The company is expanding its production capacity with new facilities in Mexico and Poland to meet growing demand in the automotive sector[22]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% market share in the region by 2025[80]. - The company aims to deepen its product planning and expand its customer base in response to energy efficiency upgrades and the dual carbon goals[22]. Financial Instruments and Investments - The company recognizes expected credit losses based on the weighted average of credit losses for financial assets measured at amortized cost and certain other financial instruments[161]. - The company applies valuation techniques to determine the fair value of financial assets and liabilities, using observable inputs when available[160]. - The company recognizes financial assets when it becomes a party to the financial instrument contract, measuring them initially at fair value[158].

Financial Performance - The company's revenue for Q1 2022 reached ¥4,803,574,775.23, representing a year-on-year increase of 40.94% compared to ¥3,408,216,862.74 in the same period last year[4] - Net profit attributable to shareholders for Q1 2022 was ¥452,994,753.44, up 25.81% from ¥360,076,304.91 in the previous year[4] - The net profit after deducting non-recurring gains and losses was ¥402,392,543.26, reflecting a 25.29% increase from ¥321,171,217.99 year-on-year[4] - Total operating revenue for Q1 2022 reached ¥4,803,574,775.23, a 41.0% increase from ¥3,408,216,862.74 in the same period last year[17] - Net profit attributable to shareholders of the parent company was ¥452,994,753.44, representing a 25.7% increase compared to ¥360,076,304.91 in Q1 2021[20] - Earnings per share (EPS) for Q1 2022 was ¥0.13, compared to ¥0.10 in the same quarter last year[20] Assets and Liabilities - The company's total assets at the end of Q1 2022 amounted to ¥24,290,576,720.24, a 2.84% increase from ¥23,619,966,759.91 at the end of the previous year[4] - Total liabilities of the company stood at ¥12,590,131,008.78, slightly up from ¥12,367,376,151.18 in the previous year[17] - Current liabilities totaled ¥8,057,827,211.16, down from ¥8,350,952,895.25, a decrease of about 3.5%[16] - Long-term borrowings increased significantly to ¥1,271,792,417.22 from ¥801,461,958.89, representing a growth of approximately 58.5%[16] - The company experienced a 58.68% rise in long-term borrowings, primarily due to increased guarantee loans[5] Cash Flow - The net cash flow from operating activities decreased by 33.70% to ¥125,930,521.34, down from ¥189,951,485.75 in the same period last year[4] - The net cash flow from operating activities for Q1 2022 was ¥125,930,521.34, a decrease of 33.8% compared to ¥189,951,485.75 in Q1 2021[22] - Total cash inflow from operating activities was ¥4,561,898,675.45, up 23.3% from ¥3,700,073,743.47 in the previous year[22] - Cash outflow from operating activities totaled ¥4,435,968,154.11, an increase of 26.4% compared to ¥3,510,122,257.72 in Q1 2021[22] - The net cash flow from investing activities was -¥937,267,633.70, compared to ¥70,887,671.79 in Q1 2021, indicating a significant increase in investment outflows[23] - Cash inflow from investing activities was ¥188,435,477.27, down 65.5% from ¥546,028,828.49 in the previous year[23] - Cash outflow from investing activities reached ¥1,125,703,110.97, a substantial increase from ¥475,141,156.70 in Q1 2021[23] - The net cash flow from financing activities was -¥78,510,991.23, compared to -¥50,472,210.74 in Q1 2021, indicating a worsening financing position[23] - Cash inflow from financing activities was ¥348,412,375.08, while cash outflow totaled ¥426,923,366.31, leading to a net outflow[23] - The ending cash and cash equivalents balance was ¥1,853,243,311.42, down from ¥3,610,556,697.25 at the end of Q1 2021[23] Shareholder Information - The total number of common shareholders at the end of the reporting period was 85,080[10] - The largest shareholder, Sanhua Holdings Group Co., Ltd., holds 29.44% of shares, totaling 1,057,245,749 shares[10] - The company reported a total of 1,057,245,749 shares held by the largest shareholder, which is 29.44% of the total shares[12] Research and Development - Research and development expenses increased by 37.09% year-on-year, primarily due to rising material and labor costs[8] - Research and development expenses increased to ¥229,947,279.32, a 37.2% rise from ¥167,738,257.86 in the previous year[19] - Future outlook includes continued investment in R&D and potential market expansion strategies to enhance competitive positioning[19] Operational Costs - The company's gross profit margin was impacted by a 44.84% increase in operating costs, which was attributed to the rise in revenue[8] - Total operating costs amounted to ¥4,285,238,156.92, up 43.3% from ¥2,988,670,817.78 year-over-year[17] - The company reported a gross profit of ¥518,336,618.31, with a gross margin of approximately 10.8%[19] Other Information - The company did not undergo an audit for the Q1 2022 report[24] - The company plans to continue expanding its market presence in the refrigeration and automotive parts industries, which are currently experiencing strong supply and demand dynamics[5] - The company’s cash flow from operating activities showed a positive trend, indicating improved liquidity[21] - Accounts receivable increased to ¥4,162,705,168.11 from ¥3,516,292,868.39, reflecting a growth of approximately 18.4%[15] - Inventory at the end of the reporting period was ¥3,946,105,849.71, up from ¥3,637,853,809.47, indicating an increase of about 8.5%[15] - Total assets reached ¥24,290,576,720.24, compared to ¥23,619,966,759.91 at the beginning of the year, marking an increase of approximately 2.8%[16] - The total equity attributable to shareholders of the parent company was ¥11,597,176,820.22, an increase from ¥11,150,308,271.43 year-over-year[17] - The company has a total of 3,235,451,696.24 in accounts payable, slightly up from 3,214,698,131.59, indicating a marginal increase[16]

Financial Performance - The company's operating revenue for 2021 was ¥16,020,809,805.52, representing a 32.30% increase compared to ¥12,109,833,368.44 in 2020[12]. - The net profit attributable to shareholders for 2021 was ¥1,684,044,407.47, an increase of 15.18% from ¥1,462,158,821.57 in 2020[12]. - The net profit after deducting non-recurring gains and losses was ¥1,487,491,274.21, up 17.07% from ¥1,270,609,746.53 in 2020[12]. - The basic earnings per share for 2021 was ¥0.47, a 14.63% increase from ¥0.41 in 2020[12]. - The total assets at the end of 2021 were ¥23,619,966,759.91, reflecting a 38.68% increase from ¥17,032,530,730.18 at the end of 2020[12]. - The company's net assets attributable to shareholders increased by 10.79% to ¥11,150,308,271.43 from ¥10,064,794,519.57 in 2020[13]. - The net cash flow from operating activities decreased by 25.46% to ¥1,555,819,103.29 from ¥2,087,343,783.11 in 2020[12]. - The weighted average return on net assets for 2021 was 15.98%, up from 15.04% in 2020[12]. Revenue Breakdown - Total revenue for the year was approximately CNY 16.02 billion, with a quarterly breakdown of CNY 3.41 billion in Q1, CNY 4.27 billion in Q2, CNY 4.05 billion in Q3, and CNY 4.30 billion in Q4[15]. - Net profit attributable to shareholders for the year was CNY 1.68 billion, with quarterly figures of CNY 360.08 million in Q1, CNY 463.80 million in Q2, CNY 469.29 million in Q3, and CNY 390.87 million in Q4[15]. Production and Sales - The company reported a 151.43% increase in production of new energy vehicle thermal management products, totaling 1.95 million units, compared to 774,230 units in the previous year[22]. - Traditional fuel vehicle thermal management products saw a 27.89% increase in production, reaching 10.92 million units, up from 8.54 million units year-over-year[22]. - The domestic aftermarket sales volume increased by 48.26%, totaling 8.42 million units, compared to 5.68 million units in the previous year[23]. - The overseas aftermarket sales volume increased by 22.36%, totaling 4.44 million units, compared to 3.63 million units in the previous year[23]. Research and Development - The company invested 7.51 billion yuan in R&D during the reporting period, an increase of 44.9% compared to the previous year[30]. - The total R&D investment reached ¥751,138,559.24 in 2021, representing a 44.90% increase from ¥518,401,363.63 in 2020, and R&D investment accounted for 4.69% of operating revenue[49]. - In 2021, the company increased its R&D personnel to 1,890, a 19.92% increase from 1,576 in 2020, with R&D personnel accounting for 13.05% of total employees[49]. Market Strategy and Partnerships - The company has formed strategic partnerships with major automotive manufacturers, including Valeo, Volkswagen, and Toyota, to enhance its market presence in the automotive sector[19]. - The company is focusing on the development of heat pump technology and thermal management systems, with a strategic emphasis on innovation and market expansion[21]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by 2025[101]. Environmental and Social Responsibility - The company is a key pollutant discharge unit, with total COD emissions of 42.79 tons, ammonia nitrogen emissions of 4.28 tons, and sulfur dioxide emissions of 0.678 tons, all within regulatory limits[143]. - The company has implemented wastewater treatment measures, including the installation of monitoring devices and a connection to the environmental protection department for real-time monitoring of pollutants[145]. - The company actively participates in social responsibility and charitable activities, contributing to local community development and environmental protection[156]. Governance and Compliance - The company has implemented strict governance practices, ensuring compliance with relevant laws and regulations, and protecting investor interests[82]. - The company has established a robust organizational structure, with independent operation of its board of directors and supervisory board[89]. - The company has a dedicated investor relations management team to enhance communication and transparency with investors[86]. Financial Management and Investments - The company raised a total of CNY 430,984.1 million through public and private placements, with CNY 120,043.4 million utilized during the reporting period[61]. - The company has a remaining unused fundraising amount of CNY 189,764.74 million, which is allocated for liquidity purposes[61]. - The company has committed to maintaining its independence in operations, assets, and finances post-transaction completion[167]. Employee Management - The total number of employees at the end of the reporting period is 14,478, with 9,657 in production, 533 in sales, 1,890 in technology, 272 in finance, and 2,126 in administration[122][123]. - The company has established a comprehensive compensation system based on market salary levels, job value, capabilities, and performance results, which includes basic salary, performance bonuses, and long-term incentives[124]. - The company is actively engaging in training programs to enhance employee skills and promote internal talent development[125].

Financial Performance - The company's operating revenue for Q3 2021 was ¥4,045,798,609.62, representing a year-on-year increase of 23.53%[4] - The net profit attributable to shareholders for Q3 2021 was ¥469,290,292.27, reflecting a year-on-year growth of 4.57%[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥446,694,527.91, up 19.12% year-on-year[4] - Total operating revenue for Q3 2021 reached ¥11,719,880,371.31, an increase of 36.9% compared to ¥8,593,215,985.99 in the same period last year[16] - Operating profit for Q3 2021 was ¥1,576,946,013.49, up from ¥1,275,593,674.37, reflecting a growth of 23.6% year-over-year[17] - Net profit attributable to the parent company was ¥1,293,171,513.97, compared to ¥1,092,248,543.27 in the previous year, marking an increase of 18.4%[17] - The company reported a total comprehensive income of ¥1,261,149,595.00 for Q3 2021, up from ¥1,040,173,575.84 in the same quarter last year, representing a growth of 21.2%[18] - Basic and diluted earnings per share for Q3 2021 were both ¥0.36, an increase from ¥0.31 in the previous year[18] Assets and Liabilities - Total assets at the end of Q3 2021 reached ¥21,880,787,723.16, an increase of 28.46% compared to the end of the previous year[5] - The company's total current assets as of September 30, 2021, amounted to ¥15,480,571,121.86, an increase from ¥11,584,353,013.52 in the previous year[13] - The total assets of the company reached ¥21,880,787,723.16, compared to ¥17,032,530,730.18 at the end of 2020[13] - The company's total liabilities increased by 34.85% year-on-year, mainly due to an increase in bank borrowings[7] - Total liabilities increased to ¥11,034,236,086.95 from ¥6,879,777,959.15, reflecting a rise of 60.9% year-over-year[16] - The current liabilities totaled ¥7,203,736,998.36, compared to ¥4,727,602,462.38 in the previous year, indicating a growth of 52.4%[16] - The company's total equity reached ¥10,846,551,636.21, up from ¥10,152,752,771.03, showing an increase of 6.8%[16] - The total liabilities include short-term borrowings of ¥516,613,429.75, an increase from ¥383,088,296.60[13] Cash Flow - The company's cash flow from operating activities for the year-to-date was ¥1,160,606,172.92, showing a decline of 26.09% year-on-year[4] - Operating cash inflow for the current period reached ¥12,537,669,714.75, a significant increase from ¥9,306,516,090.47 in the previous period, representing a growth of approximately 34.0%[19] - Net cash flow from operating activities was ¥1,160,606,172.92, down from ¥1,570,209,057.74 in the previous period, indicating a decline of about 26.0%[20] - Cash and cash equivalents at the end of the period totaled ¥5,858,798,210.07, compared to ¥3,305,174,119.28 at the end of the previous period, reflecting an increase of approximately 77.0%[21] - Total cash outflow from investing activities was ¥1,580,261,952.22, up from ¥1,155,574,832.74 in the previous period, marking an increase of about 36.8%[20] - Net cash flow from financing activities was ¥2,458,001,645.08, a substantial increase from ¥1,012,051.97 in the previous period, indicating a growth of over 99.8%[20] - The company received cash from financing activities amounting to ¥3,671,652,300.00, compared to ¥2,011,946,436.17 in the previous period, representing an increase of approximately 82.5%[20] - Cash received from other financing activities was ¥2,987,977,500.00, a significant rise from ¥22,599,967.59 in the previous period, reflecting an increase of about 13,195.0%[20] - The company paid out ¥957,771,575.58 in dividends and interest, compared to ¥825,510,970.52 in the previous period, which is an increase of approximately 16.0%[20] - The impact of exchange rate changes on cash and cash equivalents was a decrease of ¥50,821,104.37, slightly improved from a decrease of ¥57,649,519.80 in the previous period[20] Research and Development - The company's R&D expenses increased by 41.71% year-on-year, primarily due to higher salaries for R&D personnel[7] - Research and development expenses for Q3 2021 amounted to ¥518,960,094.41, compared to ¥366,204,786.57 in the same period last year, indicating a significant investment in innovation[16] Shareholder Information - The total number of common shareholders at the end of the reporting period was 81,947[8] - The largest shareholder, Sanhua Holdings Group, holds 29.44% of shares, totaling 1,057,245,749 shares[9] - The top ten shareholders collectively hold a significant portion of the company's shares, with the top three alone accounting for over 70%[9] - The company has a total of 0 preferred shareholders with voting rights restored[8] Inventory Management - The company's inventory increased by 35.74% year-on-year, driven by increased sales and stockpiling[7] - Inventory increased to ¥3,132,564,521.74 from ¥2,307,761,706.46 year-over-year[13] Other Information - The company issued convertible bonds this year, resulting in a significant increase in cash and short-term borrowings[7] - The company did not adjust the initial balance sheet items for the new leasing standards implemented in 2021[22] - The company reported accounts receivable of ¥2,924,009,392.83, compared to ¥2,355,613,299.57 in the previous year[12] - The company's cash and cash equivalents stood at ¥5,999,790,067.96, up from ¥3,489,687,568.14 in the previous year[12] - The company's long-term borrowings decreased to ¥757,811,696.24 from ¥1,707,918,994.87, a reduction of 55.7%[16]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥7,674,081,761.69, representing a 44.30% increase compared to ¥5,318,178,626.77 in the same period last year[11]. - The net profit attributable to shareholders of the listed company was ¥823,881,221.70, up 28.03% from ¥643,481,717.35 in the previous year[11]. - The net profit after deducting non-recurring gains and losses was ¥719,771,655.78, reflecting a 23.63% increase from ¥582,191,161.67 year-on-year[11]. - The basic earnings per share increased to ¥0.23, a rise of 27.78% compared to ¥0.18 in the same period last year[11]. - The total operating revenue for the first half of 2021 was CNY 7,674,081,761.69, representing an increase of 44.4% compared to CNY 5,318,178,626.77 in the same period of 2020[105]. - The net profit attributable to the parent company for the first half of 2021 was CNY 823,881,221.70, up 28.0% from CNY 643,481,717.35 in the first half of 2020[106]. - The total operating costs for the first half of 2021 were CNY 6,735,994,919.86, which is an increase of 44.7% from CNY 4,658,848,422.13 in the first half of 2020[105]. - The company reported a total comprehensive income of CNY 819,230,444.00 for the first half of 2021, compared to CNY 614,411,402.21 in the same period of 2020, an increase of 33.4%[107]. Assets and Liabilities - The total assets at the end of the reporting period were ¥21,007,499,311.90, which is a 23.34% increase from ¥17,032,530,730.18 at the end of the previous year[11]. - The total liabilities increased to CNY 7,403,838,900.04 in the first half of 2021, compared to CNY 4,897,865,160.28 in the same period of 2020, marking a growth of 51.3%[104]. - The company's total equity attributable to shareholders reached ¥10,444,077,103.59, an increase of 3.8% from ¥10,064,794,519.57[101]. - The company's asset-liability ratio increased to 49.81%, up from 40.39% in the previous year, reflecting a 9.42% rise[95]. - The total cash and cash equivalents at the end of the period amounted to ¥6,301,888,182.65, an increase from ¥3,489,687,568.14 at the beginning of the period, representing an increase of approximately 80.5%[177]. Cash Flow - The net cash flow from operating activities was ¥825,216,623.26, down 25.30% from ¥1,104,651,449.42 in the same period last year[11]. - The cash flow from operating activities generated a net amount of CNY 825.22 million, compared to CNY 1.10 billion in the first half of 2020, indicating a decline of about 25.3%[112]. - The company reported a total cash inflow from financing activities of CNY 3.27 billion, significantly higher than CNY 1.52 billion in the same period last year, marking an increase of approximately 114.5%[113]. - The net cash flow from financing activities was 1,999,154,658.00 CNY, compared to 420,746,967.65 CNY in the previous period, showing a substantial improvement[115]. Research and Development - R&D investment rose to 352 million yuan, a 46.73% increase from the previous year[25]. - Research and development expenses for the first half of 2021 were CNY 352,175,549.62, which is a 46.7% increase from CNY 240,012,928.38 in the first half of 2020[105]. - The company has committed to enhancing its R&D capabilities, with an investment of 100 million CNY allocated for new technology development in 2021[68]. Market Position and Strategy - The company maintains a leading position in the global refrigeration control components market, with its products such as electronic expansion valves and four-way valves holding the highest market share globally[19]. - The company has developed a global marketing network with subsidiaries in countries such as Japan, the USA, and Germany, and has established overseas production bases in locations like Mexico and Vietnam, supporting its international expansion strategy[23]. - The automotive parts business is experiencing significant growth due to the rising demand for air conditioning and thermal management products in the rapidly expanding electric vehicle market[18]. - The company aims to enhance its product offerings by transitioning from mechanical components to integrated electronic control solutions, aligning with trends in energy efficiency and smart technology[20]. Environmental Responsibility - The company is classified as a key pollutant discharge unit by environmental protection authorities, indicating its commitment to environmental responsibilities[50]. - Zhejiang Sanhua Intelligent Control Co., Ltd. reported a total COD discharge of 21.53 tons, which is below the annual limit of 61.867 tons[51]. - The company has established two wastewater treatment stations and implemented online monitoring for various pollutants including pH, COD, and total copper[53]. - The company has committed to a "zero direct discharge" policy for wastewater, enhancing its environmental management practices[53]. Corporate Governance - The company will not distribute cash dividends or issue bonus shares for the half-year period, focusing on reinvestment[47]. - The controlling shareholder has promised not to engage in any business that competes with the company, ensuring non-competition obligations are upheld[59]. - The company has established a legal framework to ensure that any related party transactions are conducted at fair market prices[61]. - The company will continue to enhance its corporate governance structure in accordance with relevant laws and regulations[61]. Shareholder Information - The largest shareholder, Sanhua Holdings Group, holds 29.44% of the shares, having decreased by 12,291,831 shares during the reporting period[82]. - A total of 883 incentive plan participants had 4,596,150 restricted shares released for trading, with 4,426,340 shares actually listed[78]. - The company has implemented a stock incentive plan, with specific conditions for the release of restricted shares based on management regulations[80]. Financial Instruments and Risk Management - The company’s derivative investments include futures and foreign exchange tools to mitigate raw material price risks and exchange rate risks[39]. - The company reported a 5% expected credit loss rate for accounts receivable within one year[140]. - The company recognizes expected credit losses on receivables based on historical loss experience, current conditions, and future economic forecasts[138].

Financial Performance - The company's revenue for Q1 2021 was CNY 3,408,216,862.74, representing a 37.22% increase compared to CNY 2,483,672,660.52 in the same period last year[3] - Net profit attributable to shareholders for Q1 2021 was CNY 360,076,304.91, a 70.36% increase from CNY 211,359,665.77 in Q1 2020[3] - The net profit after deducting non-recurring gains and losses was CNY 321,171,217.99, which is a 20.31% increase compared to CNY 266,958,886.61 in the previous year[3] - The basic earnings per share for Q1 2021 was CNY 0.10, up 66.67% from CNY 0.06 in Q1 2020[3] - The company's operating revenue increased by 37.22% year-on-year, driven by strong demand in the refrigeration and automotive parts sectors[12] - Net profit for Q1 2021 was CNY 363,853,179.44, compared to CNY 211,161,663.50 in the same period last year, reflecting a growth of approximately 72.3%[41] - The total comprehensive income for Q1 2021 was CNY 363,898,891.35, compared to CNY 205,685,550.75 in the same period last year[43] - The net profit for the first quarter of 2021 was CNY 153,074,665.60, an increase of 45.5% compared to CNY 105,201,322.19 in the same period last year[46] - The total comprehensive income for the first quarter was CNY 153,074,665.60, compared to CNY 105,201,322.19 in the previous year, showing an increase of 45.5%[46] Assets and Liabilities - The total assets at the end of the reporting period were CNY 17,701,840,825.82, reflecting a 3.93% increase from CNY 17,032,530,730.18 at the end of the previous year[3] - The net assets attributable to shareholders at the end of the reporting period were CNY 10,438,051,558.94, a 3.71% increase from CNY 10,064,794,519.57 at the end of the previous year[3] - The company's total liabilities due within one year increased by RMB 471.44 million, primarily due to an increase in long-term borrowings[12] - Total liabilities rose to CNY 7.17 billion, compared to CNY 6.88 billion, indicating an increase of about 4.19%[34] - Current liabilities totaled CNY 5.50 billion, up from CNY 4.73 billion, representing a growth of approximately 16.00%[34] Cash Flow - The net cash flow from operating activities for Q1 2021 was CNY 189,951,485.75, a decrease of 63.42% compared to CNY 519,305,066.00 in the same period last year[3] - The company's cash flow from operating activities totaled CNY 3,700,073,743.47, compared to CNY 3,020,472,905.28 in the previous year, marking an increase of 22.5%[47] - The company reported cash flow from investing activities of CNY 70,887,671.79, a significant recovery from a negative cash flow of CNY -449,786,230.77 in the same quarter last year[48] - The company's cash flow from financing activities was negative at CNY -50,472,210.74, a decrease from a positive cash flow of CNY 123,200,115.37 in the same quarter last year[49] Shareholder Information - The company reported a total of 107,774 common shareholders at the end of the reporting period[6] - The largest shareholder, Sanhua Holdings Group Co., Ltd., held 29.44% of the shares, totaling 1,057,245,749 shares[6] Research and Development - The company's research and development expenses rose by 44.54% year-on-year, primarily due to increased salaries for R&D personnel and higher material costs[12] - Research and development expenses rose to CNY 167,738,257.86, compared to CNY 116,048,382.53 in the prior year, indicating a focus on innovation[40] Investments and Financial Management - The company plans to publicly issue convertible bonds totaling up to RMB 3 billion, with a term of 6 years, to support future operations[14] - The company reported a total of 150,097,000 CNY in entrusted financial management, with an outstanding balance of 29,294,000 CNY[23] - The company has invested in various bank wealth management products, with a total investment amount of 54,500,000 CNY during the reporting period[26] - The annualized return rates for the bank wealth management products range from 2.62% to 3.55%[24] Corporate Governance - The company has made commitments to avoid any direct or indirect competition with its subsidiaries[18] - The controlling shareholders have pledged to minimize related party transactions with the company[19] - The company aims to maintain its independence in business, assets, finance, and personnel post-transaction[19] - The company has established fair and equitable principles for any necessary related party transactions[18] - The company will notify of any business opportunities that may compete with its operations[19] - The company has committed to ensuring compliance with legal and regulatory requirements in its governance structure[19] - The company has outlined measures to protect the legitimate rights and interests of all shareholders[19] - The company has a long-term commitment to fulfill its promises regarding related party transactions and competition[18] Market Strategy - The company is focusing on expanding its market presence and enhancing product development strategies to drive future growth[30] - The company has plans for new product and technology development to strengthen its competitive position in the market[30] - The company is actively exploring potential mergers and acquisitions to facilitate market expansion and enhance operational capabilities[30] - The company aims to provide future performance guidance based on current market trends and operational strategies[30] Miscellaneous - The company reported no securities investments during the reporting period[20] - The company has not reported any significant changes in accounting policies or principles regarding derivatives compared to the previous reporting period[21] - There were no violations of external guarantees during the reporting period[27] - The company has not experienced any non-operating fund occupation by controlling shareholders or related parties during the reporting period[28] - The company did not require adjustments to the beginning balance sheet items under the new leasing standards implemented in 2021[52] - The first quarter report was not audited, indicating that the figures presented are preliminary and subject to change[53]

Financial Performance - The company's operating revenue for 2020 was CNY 12,109,833,368.44, representing a 7.29% increase from CNY 11,287,489,442.23 in 2019[10] - The net profit attributable to shareholders for 2020 was CNY 1,462,158,821.57, a 2.88% increase compared to CNY 1,421,204,236.13 in 2019[10] - The net profit after deducting non-recurring gains and losses was CNY 1,270,609,746.53, which is a decrease of 5.97% from CNY 1,351,335,040.19 in 2019[10] - The net cash flow from operating activities for 2020 was CNY 2,087,343,783.11, up 9.85% from CNY 1,900,163,604.60 in 2019[10] - The total assets at the end of 2020 were CNY 17,032,530,730.18, reflecting a 15.16% increase from CNY 14,790,190,170.64 at the end of 2019[10] - The net assets attributable to shareholders at the end of 2020 were CNY 10,064,794,519.57, an increase of 8.32% from CNY 9,291,632,928.45 at the end of 2019[10] - The basic earnings per share for 2020 was CNY 0.41, a 2.50% increase from CNY 0.40 in 2019[10] - The diluted earnings per share for 2020 was also CNY 0.41, consistent with the basic earnings per share[10] - The weighted average return on equity for 2020 was 15.04%, down from 16.08% in 2019, indicating a decrease of 1.04%[10] Dividend Distribution - The company plans to distribute a cash dividend of CNY 2.5 per 10 shares, based on a total of 3,581,818,372 shares[2] - In 2020, the company distributed a cash dividend of RMB 1.50 per 10 shares, totaling RMB 413,337,540.30, and increased its share capital by 826,675,080 shares through capital reserve conversion[78] - For the first half of 2020, the company distributed a cash dividend of RMB 1.00 per 10 shares, totaling RMB 358,225,868.20[78] - The company’s profit distribution plan for 2020 was approved at the shareholders' meeting held on August 28, 2020[78] - The company’s cash dividend policy complies with relevant laws and regulations, as well as its articles of association[79] - The cash dividend for 2020 significantly increased compared to 2019, indicating a strong performance and profitability[81] - The total cash dividend in 2019 was 413,337,540.30 RMB, representing 29.08% of the net profit attributable to ordinary shareholders[81] - The total distributable profit for the year was 1,089,748,875.88 RMB, with the cash dividend representing 100% of this amount[82] Research and Development - The company invested CNY 5.18 billion in R&D during the reporting period, focusing on enhancing product capabilities and patent portfolio[28] - The company’s R&D expenses for 2020 were ¥518,401,363.63, a decrease of 2.56% from ¥532,012,335.99 in 2019[41] - The company has invested 288.06 million CNY in research and development, which is 52.69 million CNY more than the previous year, highlighting its commitment to innovation[161] - The company is investing 200 million CNY in R&D for new technologies aimed at enhancing product efficiency[166] Market Expansion and Strategy - The automotive parts business is experiencing significant growth, driven by the increasing demand for air conditioning and thermal management products in the electric vehicle sector[20] - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[88] - The company plans to accelerate the construction of overseas factories in Mexico and Vietnam to improve operational efficiency and create greater benefits[72] - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its service offerings[111] - The management has set a revenue target of 6,000 million CNY for the next fiscal year, indicating a growth expectation of approximately 5.14%[161] Environmental Responsibility - The company has achieved a low nitrogen emission standard of 50mg/m3 for its gas boilers, contributing to environmental protection efforts[130] - The company has implemented a wastewater treatment system with two treatment stations, ensuring that all wastewater is processed before being discharged into the industrial park's sewage network[130] - The company reported a total COD discharge of 32.81 tons, well below the annual limit of 61.867 tons, indicating compliance with environmental standards[128] - The company has been recognized as one of the first enterprises in Shaoxing City to pass the "waste-free factory" certification[130] Corporate Governance - The company has a governance structure that ensures the protection of shareholders' rights, particularly for minority shareholders[120] - The company maintains a clear separation from its controlling shareholder in terms of business operations, personnel, assets, institutions, and finances, ensuring independent management[188] - The company has established a robust employee performance evaluation and incentive mechanism to attract and retain talented management and technical personnel[186] - The company has conducted multiple shareholder meetings with participation rates of 63.72% in February, 67.08% in May, 67.25% in June, 65.07% in August, and 65.72% in November 2020[189][190] Employee Management - The total number of employees in the company is 13,073, with 4,570 in the parent company and 8,503 in major subsidiaries[175] - The company has a comprehensive compensation system based on job value, personnel capability, and performance evaluation, ensuring competitive salary levels[176] - The company has established various incentive evaluation systems, including performance management and professional talent grading, to motivate employees[177] - The company has implemented a second phase of the restricted stock incentive plan in 2020, following the first phase initiated in 2018, to retain key talent[177] Financial Management - The company reported a total guarantee amount of 310,000,000 CNY during the reporting period, with actual guarantees amounting to 75,224,700 CNY[104] - The company has entrusted financial management with a total amount of 1,638,715,000 CNY, with an outstanding balance of 750,485,000 CNY[108] - The company reported a total of 5,500 million RMB in fundraising through various financial products, showcasing strong market demand[114] Risk Management - The company faces risks related to raw material price fluctuations, labor cost increases, and trade and exchange rate risks, which it plans to mitigate through various strategies[73] - The strategic committee provided constructive suggestions regarding potential risks from international trade environment changes and the impact of the global pandemic[194] Shareholder Engagement - The company has consistently provided opportunities for minority shareholders to express their opinions and protect their legal rights[79] - The company has maintained a clear and transparent cash dividend policy, ensuring the protection of minority shareholders' rights[79] - The company actively engages with investors through various communication channels to enhance understanding of its development and operations[121]

Financial Performance - Operating revenue for the reporting period was ¥2.67 billion, reflecting a growth of 14.56% compared to the same period last year[6]. - Net profit attributable to shareholders of the listed company was ¥346.34 million, a decrease of 6.21% year-on-year[6]. - Net profit attributable to shareholders after deducting non-recurring gains and losses was ¥346.84 million, an increase of 6.34% year-on-year[6]. - Basic earnings per share were ¥0.16, down by 11.11% year-on-year[6]. - The weighted average return on equity was 4.12%, a decrease of 1.89% compared to the previous year[6]. - The company expects a net profit attributable to shareholders for 2018 to be between RMB 123,595.21 million and RMB 148,314.25 million, indicating a growth range of 0.00% to 20.00% compared to 2017[21]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥13.61 billion, an increase of 10.24% compared to the end of the previous year[6]. - Net assets attributable to shareholders of the listed company amounted to ¥8.38 billion, up by 6.37% year-on-year[6]. - The company's derivative financial assets decreased by 96.66% compared to the beginning of the year, mainly due to reduced floating gains from foreign exchange forward contracts[15]. - The company's short-term borrowings increased by 72.29% compared to the beginning of the year, primarily due to increased bank loans[15]. - The company's long-term borrowings decreased by 54.27% compared to the beginning of the year, as some long-term borrowings were reclassified as current liabilities[15]. - The company's other payables increased by 114.00% compared to the beginning of the year, mainly due to the increase in obligations related to the restricted stock incentive plan[15]. - The company's deferred income tax liabilities decreased by 81.22% compared to the beginning of the year, primarily due to reduced floating gains from futures and foreign exchange forward contracts[15]. Cash Flow - Net cash flow from operating activities was ¥378.88 million, up by 32.81% compared to the previous year[6]. - The company's net cash flow from investing activities decreased by 48.37% year-on-year, primarily due to increased cash payments for the purchase of long-term assets[16]. - The company's financial expenses decreased by 169.36% year-on-year in the first three quarters, mainly due to increased exchange gains from currency fluctuations[16]. - The company's prepayments decreased by 45.57% compared to the beginning of the year, influenced by changes in collection policies[15]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 36,647[10]. - The largest shareholder, Sanhua Holdings Group, held 37.18% of the shares, amounting to 788,374,733 shares[10]. Financial Management - The company has engaged in entrusted financial management with a total amount of 173,490,000, including 66,790,000 from self-owned funds and 104,500,000 from raised funds[27]. - The company has a total of 132,750,000 in unexpired balances from entrusted financial management, with no overdue amounts[27]. - The expected annualized return rates for various financial products range from 2.91% to 4.60%[29]. - The total amount of entrusted financial management products includes various bank and brokerage products, with specific amounts detailed for each[29]. - The company has maintained a focus on financial management strategies to optimize returns while managing risks[30]. Compliance and Governance - The company reported no violations regarding external guarantees during the reporting period[24]. - There were no non-operating fund occupations by controlling shareholders or their affiliates during the reporting period[25]. - The company has not reported any expected inability to recover principal or other impairment risks related to entrusted financial management[32]. Investor Relations - The company conducted multiple investor relations activities, including site visits on August 16, August 21, and September 18, 2018[33].