证券代码：002126 证券简称：银轮股份 债券代码：127037 债券简称：银轮转债 浙江银轮机械股份有限公司 投资者关系活动记录表 编号：2022-004 | --- | --- | --- | --- | --- | --- | |------------------------------|----------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------|--------------|-----------------|----------| | | | | | | | | 投资者关系 | ▇特定对象调研 □分析师会议 □媒体采访 □业绩说明会 | | | | | | 活动类别 | □新闻发布会 □路演活动 | | | | | | | | | | | | | 参与单位名称 及人员姓名 | ▇ ...

证券代码：002126 证券简称：银轮股份 债券代码：127037 债券简称：银轮转债 浙江银轮机械股份有限公司 投资者关系活动记录表 编号：2022-006 | --- | --- | --- | --- | --- | --- | --- | |-------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

编号：2022-007 证券代码：002126 证券简称：银轮股份 债券代码：127037 债券简称：银轮转债 浙江银轮机械股份有限公司 投资者关系活动记录表 | --- | --- | --- | |-------------------------------------------|-------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Financial Performance - The company achieved a revenue of CNY 6 billion for the year-to-date, representing a year-on-year growth of 2.89%[5] - In Q3, the revenue reached CNY 2.13 billion, an increase of 20.06% compared to the same period last year[5] - The net profit attributable to shareholders for Q3 was CNY 100.01 million, a significant increase of 147.85% year-on-year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 was CNY 91.35 million, up 216.17% year-on-year[6] - The basic earnings per share for Q3 was CNY 0.12, reflecting a 140.00% increase year-on-year[5] - Total operating revenue for the third quarter of 2022 reached ¥6,000,544,473.47, an increase of 2.9% compared to ¥5,831,830,519.33 in the same period last year[32] - Net profit for the period was ¥276.69 million, compared to ¥250.97 million in the previous period, indicating an increase of about 10.3%[35] - Basic earnings per share rose to ¥0.29 from ¥0.27, marking an increase of approximately 7.4%[38] Assets and Liabilities - The company reported a total asset value of CNY 13.18 billion at the end of the reporting period, a 9.94% increase from the previous year[5] - Current assets totaled ¥7,873,366,544.29 as of September 30, 2022, up from ¥7,222,749,667.52 at the beginning of the year, reflecting a growth of approximately 9.0%[28] - Total liabilities amounted to ¥8,121,043,135.59, an increase from ¥7,114,888,394.21, reflecting a growth of 14.1%[31] - The company's non-current assets reached ¥5,307,369,955.61, up from ¥4,766,125,553.36, marking an increase of 11.4%[28] - The total assets of the company were ¥13,180,736,499.90, compared to ¥11,988,875,220.88 at the beginning of the year, showing a growth of 10.0%[31] Cash Flow - The company’s cash flow from operating activities for the year-to-date was CNY 151.44 million, a decrease of 58.93% compared to the previous year[14] - The net cash flow from operating activities was $151,435,117.05, a decrease of 59% compared to $368,728,825.14 in the previous period[42] - Cash inflow from operating activities totaled approximately ¥5.01 billion, up from ¥4.55 billion, representing an increase of about 9.9%[39] - Cash inflow from investment activities reached $2,684,489,495.60, significantly higher than $524,953,005.10, representing a 411% increase[42] - The net cash flow from investment activities was -$695,255,577.31, an improvement from -$1,101,069,166.37 in the previous period[42] - The ending balance of cash and cash equivalents was $1,085,849,530.20, up from $721,439,611.73, showing a 50% increase[42] Shareholder Information - The total number of common shareholders at the end of the reporting period is 39,925[15] - The largest shareholder, Xu Xiaomin, holds 7.02% of the shares, totaling 55,615,820 shares[15] - The second-largest shareholder, the Basic Pension Insurance Fund 1003 Portfolio, holds 4.83% with 38,225,874 shares[15] - The company has a total of 41,711,865 shares of preferred stock held by shareholders with restored voting rights[15] - The top ten shareholders collectively hold a significant portion of the company's shares, with the largest three shareholders alone accounting for over 15%[15] - The company has not disclosed any related party relationships among the top ten shareholders, except for Xu Xiaomin, who is the executive partner of Ningbo Zhengqi Investment Management Center[18] Operational Developments - The company plans to continue management reforms and strengthen cost control, expecting profit indicators to improve quarter by quarter[7] - The revenue from the passenger vehicle segment grew by 54.76% year-on-year, with the new energy vehicle business achieving a revenue of CNY 1.22 billion, up 106.06%[5] - The company established a wholly-owned subsidiary in Yibin, Sichuan, with an investment of RMB 65 million to enhance its market share in the new energy thermal management business[24] - The company approved the completion of the passenger car EGR project, reallocating surplus raised funds of RMB 11.31 million to supplement working capital[25] - The company terminated the DPF localization project, reallocating surplus raised funds of RMB 36.46 million to supplement working capital[25] - The stock option incentive plan was approved, with the first grant involving 49.49 million options to 384 participants at an exercise price of RMB 10.14 per option[22] Expenses - The company’s financial expenses decreased by 53.51% year-on-year, primarily due to increased exchange gains[14] - Research and development expenses increased to ¥285.53 million from ¥238.23 million, reflecting a growth of approximately 19.8%[35] - The financial expenses decreased significantly to ¥30.18 million from ¥64.93 million, a reduction of about 53.6%[35] - The tax expenses for the period were approximately ¥35.02 million, slightly up from ¥34.72 million, indicating a marginal increase of about 0.9%[35] Other Financial Metrics - The total operating costs for the period were approximately ¥5.69 billion, an increase from ¥5.55 billion in the previous period, representing a growth of about 2.5%[35] - The total comprehensive income for the period was approximately ¥240.80 million, down from ¥313.56 million, showing a decrease of about 23.2%[38] - The company reported a significant increase in investment income to ¥21.46 million from ¥18.38 million, which is an increase of approximately 11.5%[35] - The company experienced a decrease in fair value changes, reporting a loss of ¥30.50 million compared to a loss of ¥3.07 million in the previous period[35] Audit Status - The company’s third-quarter report was not audited[43]

Financial Performance - The company's operating revenue for the reporting period was ¥3,866,618,664.69, a decrease of 4.63% compared to the same period last year[33]. - The net profit attributable to shareholders was ¥131,497,078.49, down 25.02% year-on-year[33]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥93,039,008.78, a decline of 40.30% compared to the previous year[33]. - The net cash flow from operating activities increased by 61.40% to ¥125,659,651.53[33]. - Total assets at the end of the reporting period were ¥12,513,316,835.64, reflecting a growth of 4.37% from the end of the previous year[33]. - The weighted average return on net assets was 2.96%, down 1.35% from the previous year[33]. - The company's new energy business generated sales revenue of CNY 78.58 million, representing a year-on-year growth of 105.12%[71]. - The sales revenue from passenger vehicles increased by 37.76% to ¥1,424,103,708.78, contributing 36.83% to total revenue[76]. Risks and Challenges - The company reported that raw material costs account for approximately 80% of its main business costs, making fluctuations in prices of metals like aluminum, steel, iron, and copper a significant risk to profitability[5]. - The automotive industry is a key sector for the national economy, and macroeconomic fluctuations can impact orders for commercial vehicles, passenger cars, and new energy vehicles, thereby affecting the company's performance[4]. - The company is currently navigating risks associated with the ongoing global pandemic, which has impacted the automotive supply chain and may continue to affect performance if conditions worsen[9]. - The company faces intense competition in the automotive parts manufacturing industry, particularly in thermal management and exhaust treatment products, which may affect market share if product competitiveness is not enhanced[6][7]. - The company exports a portion of its products to the US and Europe, making it vulnerable to adverse effects from global economic conditions and exchange rate fluctuations[8]. Strategic Initiatives - The company plans not to distribute cash dividends or issue bonus shares, nor to increase capital using reserves[11]. - The management emphasizes the importance of improving brand influence and product technology to maintain market position[6][7]. - The company aims to enhance its internationalization strategy by establishing international trade offices and service centers[65]. - The company has formed strategic partnerships with major clients, including BMW, Daimler, and Caterpillar, enhancing its competitive position[68]. - The company is focusing on expanding its market share in the new energy vehicle heat management sector, with expected annual new sales revenue of nearly CNY 2.8 billion from new projects[63]. - The company has established R&D centers in Shanghai, Europe, and North America, enhancing its innovation capabilities[58]. - The company has implemented a stock option incentive plan, granting 49.49 million stock options at an exercise price of 10.14 CNY per share[114]. Environmental and Social Responsibility - The company has established a 100t/h comprehensive wastewater treatment plant since March 2012, ensuring all production and domestic wastewater meets standards before discharge[119]. - The company has built a 1200t/d comprehensive wastewater treatment plant for its subsidiary, Tian Tai Zhen Hua Surface Treatment Co., Ltd., operational since July 2019[121]. - The company has implemented various pollution control measures, including low-temperature plasma and catalytic combustion for waste gas treatment, ensuring compliance with emission standards[120]. - The company has set energy management goals to reduce energy consumption per unit of output and increase the use of clean energy sources[126]. - The company actively develops green technologies such as thermal management systems for new energy vehicles and waste heat recovery systems[126]. - The company has a commitment to exceed national standards in product quality, environmental protection, and resource utilization[126]. - The company donated a total of 590,000 yuan during the reporting period, including 400,000 yuan to the local charity association and 190,000 yuan for elderly care[129]. Investment and Financial Management - The total amount of funds raised by the company from 2017 to 2021 is RMB 139,543.47 million, with RMB 9,246.9 million utilized during the reporting period[90]. - The company has invested CNY 102,832.93 million in entrusted financial management products, with a remaining balance of CNY 66,710.69 million[159]. - The company has no overdue amounts or impairment provisions for entrusted financial management products[159]. - The company reported a total of 5,800 million in large-denomination time deposits with an annualized return of 4.30%, resulting in an expected income of 748.2 million[162]. - The company has a total of 20,000 million in structured deposits with a guaranteed floating return, yielding an expected income of 160.39 million at an annualized rate of 3.55%[164]. - The company has a total of 3,000 million in large-denomination time deposits with an expected income of 303.21 million at an annualized rate of 4.13%[162]. Corporate Governance - The company's legal representatives have confirmed the accuracy and completeness of the financial report, ensuring accountability for the information presented[3]. - The company has not disclosed specific financial performance metrics in this report, focusing instead on risk factors and strategic considerations[4][5][6]. - The company did not distribute cash dividends or issue bonus shares during the reporting period[111]. - The company has not experienced any changes in its board of directors, supervisors, or senior management during the reporting period[110]. - The company reported no significant related party transactions during the reporting period[148].

Financial Performance - Operating revenue for Q1 2022 was ¥2,054,740,130.02, an increase of 2.77% compared to ¥1,999,334,478.09 in the same period last year[6] - Net profit attributable to shareholders decreased by 33.22% to ¥70,244,387.33 from ¥105,192,206.17 year-on-year[6] - Net profit attributable to shareholders after deducting non-recurring gains and losses fell by 58.12% to ¥36,905,375.19 compared to ¥88,116,958.63 in the previous year[6] - Net profit for the current period was ¥86,923,982.24, down from ¥119,745,996.45 in the previous period, indicating a decline of approximately 27.4%[31] - Basic earnings per share decreased to ¥0.09 from ¥0.13, reflecting a decline of about 30.8%[34] - The company reported a total comprehensive income of ¥41,265,461.47, down from ¥119,960,883.61 in the previous period, indicating a decrease of approximately 65.6%[31] Cash Flow - Net cash flow from operating activities increased by 265.76% to ¥51,277,125.21, up from -¥30,934,027.13 in the same period last year[6] - Cash flow from operating activities generated a net amount of ¥51,277,125.21, a significant recovery from a negative cash flow of ¥30,934,027.13 in the previous period[35] - The company achieved cash inflow from operating activities totaling ¥1,715,756,202.29, compared to ¥1,554,205,556.27 in the previous period, marking an increase of approximately 10.4%[35] - The net cash flow from investing activities was -147,994,445.45, an improvement from -172,008,669.07 in the previous period[38] - Cash inflow from financing activities totaled 937,272,747.19, slightly down from 964,999,645.49 in the previous period[38] - The net cash flow from financing activities increased to 296,708,443.74, compared to 136,483,657.13 in the previous period[38] - The ending balance of cash and cash equivalents was 896,536,642.26, up from 601,758,396.55 in the previous period[38] - The net increase in cash and cash equivalents was 197,999,850.70, a significant recovery from -67,774,192.66 in the previous period[38] Assets and Liabilities - Total assets at the end of the reporting period were ¥12,426,618,033.08, reflecting a 3.65% increase from ¥11,988,875,220.88 at the end of the previous year[6] - Current assets rose to CNY 7,465,075,140.70 from CNY 7,222,749,667.52, indicating an increase of about 3.36%[21] - Total liabilities rose to CNY 7,529,024,197.33 from CNY 7,114,888,394.21, showing an increase of approximately 5.83%[27] - The company's equity attributable to shareholders increased to CNY 4,419,361,200.37 from CNY 4,400,149,823.52, reflecting a growth of about 0.44%[27] Expenses and Tax - The company experienced a 68.18% decrease in income tax expenses, primarily due to a reduction in total profit[13] - The company recorded a tax expense of ¥5,935,112.33, down from ¥18,653,770.99, indicating a decrease of about 68.2%[31] - Total operating costs increased to ¥1,973,579,231.35 from ¥1,862,766,007.31, representing a rise of about 5.9%[28] - Research and development expenses increased to ¥85,019,385.02 from ¥80,654,213.16, reflecting a growth of approximately 5.3%[28] Asset Management - The company reported a significant increase in asset disposal gains, which rose by 1944.15% compared to the previous year[13] - Other current liabilities increased by 69.36% compared to the beginning of the period, mainly due to an increase in unconfirmed receivables[13] - Cash and cash equivalents at the end of the period increased by 48.99% compared to the same period last year, attributed to the redemption of investment funds and cash management[13] - Accounts receivable grew to CNY 2,838,738,348.82 from CNY 2,377,991,531.82, marking an increase of around 19.34%[21] - Inventory increased to CNY 1,563,689,582.14 from CNY 1,481,351,870.25, which is a rise of about 5.56%[21] Fund Utilization - The company approved a change in the use of raised funds amounting to CNY 191 million for the "New Energy Vehicle Battery and Chip Thermal Management Project"[18] - The company reported a decrease in short-term borrowings to CNY 1,811,628,734.53 from CNY 1,504,295,193.56, indicating a reduction of approximately 20.38%[24] - The non-current assets totaled CNY 4,961,542,892.38, up from CNY 4,766,125,553.36, representing an increase of about 4.09%[24] Audit Status - The company did not audit the first quarter report[39]

Financial Performance - The company reported a total revenue of 792.12 million RMB for the year 2021, marking a year-on-year increase of 15%[26] - The net profit attributable to shareholders reached 79.21 million RMB, representing a growth of 20% compared to the previous year[26] - The company's operating revenue for 2021 was ¥7,816,415,930.90, representing a 23.60% increase compared to ¥6,324,186,529.70 in 2020[6] - The net profit attributable to shareholders for 2021 was ¥220,374,339.65, a decrease of 31.47% from ¥321,583,085.75 in 2020[6] - The net profit after deducting non-recurring gains and losses was ¥207,912,560.50, down 20.15% from ¥260,386,304.06 in 2020[6] - The net cash flow from operating activities was ¥374,643,214.62, a decline of 17.87% compared to ¥456,173,578.49 in 2020[6] - The total assets at the end of 2021 were ¥11,988,875,220.88, an increase of 21.64% from ¥9,856,245,406.68 at the end of 2020[6] - The net assets attributable to shareholders at the end of 2021 were ¥4,400,149,823.52, up 11.74% from ¥3,937,786,096.18 at the end of 2020[6] - The company achieved operating revenue of CNY 781,641.59 million, a year-on-year increase of 23.60%, while net profit attributable to shareholders decreased by 31.47% to CNY 22,037.43 million, impacted by goodwill impairment and share-based payment expenses[94] Market Expansion and Strategy - The company is focusing on expanding its market presence in Europe and North America, targeting a 30% increase in international sales by 2023[26] - The company aims to enhance its international presence through a strategy focused on product, talent, layout, and management internationalization[89] - The company is planning to implement two international projects, including factories in Mexico and Poland, to enhance localized manufacturing and global operations[172] Research and Development - The company has invested 50 million RMB in R&D for new technologies aimed at improving energy efficiency in its products[26] - The company has established R&D centers in Shanghai, Europe, and North America, enhancing its global R&D capabilities and fostering innovation[78] - Research and development (R&D) investment increased by 21.19% to CNY 326,331,765.52 in 2021, representing 4.17% of total revenue[124] - The number of R&D personnel rose to 1,209 in 2021, an increase of 3.25% from 1,171 in 2020[124] - The company completed the development of a new energy vehicle heat pump air conditioning system, aiming to reduce energy consumption and enhance vehicle range[118] - The company is developing a new generation of high-performance battery chillers to improve heat exchange efficiency and expand product coverage[118] - The company has made significant progress in developing advanced electronic water valve products for new energy vehicles, enhancing core component capabilities[118] Product Development and Innovation - New product development includes the launch of an advanced heat exchanger series, expected to contribute an additional 10 million RMB in revenue in 2022[26] - The company focuses on four product development lines: energy saving, emission reduction, intelligence, and safety, specializing in heat exchangers and thermal management products[54] - The company is expanding its product offerings into emerging fields such as smart driving and photovoltaic energy storage, providing significant growth opportunities[92] - The company is expanding its product offerings in the fuel cell thermal management market with new low-conductivity radiator designs[121] Customer and Market Dynamics - User data indicates a significant increase in customer base, with a 25% rise in new clients acquired during the year[26] - The company serves major clients in the new energy vehicle sector, including Volvo, Porsche, NIO, and BYD, among others[74] - The company has formed strong partnerships with high-end clients, including BMW, Daimler, and Toyota, enhancing its market position[93] Financial Management and Investments - The company has established a comprehensive quality management system and has received multiple quality awards from major clients such as Caterpillar and Cummins[90] - The company reported a total investment of 701,255,864.00 CNY in 2021, a substantial increase of 111.23% compared to 331,980,087.34 CNY in the previous year[136] - The company raised RMB 68,865.24 million through public issuance of convertible bonds, with RMB 18,149.69 million utilized in the current period[145] Risks and Challenges - The company acknowledges potential risks including market volatility and supply chain disruptions, which may impact future performance[7] - The company faces macroeconomic volatility risks that could impact orders for its products, particularly in the commercial vehicle and new energy vehicle sectors[175] - Fluctuations in raw material prices, including aluminum, steel, and copper, significantly affect the company's production costs and profitability[176] - Exchange rate fluctuations pose risks to the company's international competitiveness, especially as it exports products to the US and Europe[178] Governance and Compliance - The company has established a governance structure that complies with relevant laws and regulations, ensuring independent operations from its controlling shareholders[189] - The board of directors consists of 9 members, including 3 independent directors, complying with legal and regulatory requirements[190] - The company ensures strict compliance with information disclosure regulations, providing timely and accurate information to all shareholders[191] - The company operates independently from its largest shareholder, maintaining a complete and independent production and sales system[194]

Financial Performance - The company reported a cash dividend of 0.80 yuan (including tax) per 10 shares, with no bonus shares distributed[7]. - The total number of shares for dividend distribution is 792,116,159 shares[7]. - The company's operating revenue for 2021 was ¥7,816,415,930.90, representing a 23.60% increase compared to ¥6,324,186,529.70 in 2020[34]. - The net profit attributable to shareholders for 2021 was ¥220,374,339.65, a decrease of 31.47% from ¥321,583,085.75 in 2020[34]. - The net profit after deducting non-recurring gains and losses was ¥207,912,560.50, down 20.15% from ¥260,386,304.06 in 2020[34]. - The net cash flow from operating activities for 2021 was ¥374,643,214.62, a decline of 17.87% compared to ¥456,173,578.49 in 2020[34]. - The total assets at the end of 2021 were ¥11,988,875,220.88, an increase of 21.64% from ¥9,856,245,406.68 at the end of 2020[34]. - The net assets attributable to shareholders at the end of 2021 were ¥4,400,149,823.52, up 11.74% from ¥3,937,786,096.18 at the end of 2020[34]. - In 2021, the company reported a basic earnings per share of ¥0.28, down 31.71% from ¥0.41 in 2020[34]. - The weighted average return on equity for 2021 was 5.28%, a decrease of 3.12% from 8.40% in 2020[34]. Market and Industry Trends - The company experienced a decline in commercial vehicle production and sales, with a decrease of 10.7% and 6.6% respectively in 2021[49]. - The automotive industry showed resilience with a production and sales completion of 26.08 million and 26.27 million vehicles in 2021, reflecting a growth of 3.4% and 3.8% year-on-year[48]. - In 2021, the production and sales of trucks were 4.166 million and 4.288 million units, representing a year-on-year decline of 12.8% and 8.5% respectively, with heavy trucks experiencing the largest drop of 13.8%[50]. - The passenger car market saw production and sales of 21.408 million and 21.482 million units in 2021, marking a year-on-year increase of 7.1% and 6.5%, ending a three-year decline[53]. - In 2021, the production and sales of new energy vehicles reached 3.545 million and 3.521 million units, respectively, showing a year-on-year growth of 160% and achieving a market share of 13.4%, up 8 percentage points from the previous year[54]. Research and Development - The company focuses on four product development lines: energy saving, emission reduction, intelligence, and safety, specializing in heat exchangers and thermal management products[54]. - The company has established R&D centers and production bases in the US, Sweden, and Poland, enhancing its global supply capabilities[55]. - The company emphasizes a technology-driven strategy, investing in R&D and innovation to enhance product competitiveness[75]. - The company has nearly 800 patents, including 90 invention patents and 5 international patents, and has led the formulation of 35 industry standards[85]. - Research and development expenses increased by 21.19% to ¥326,331,765.52 compared to the previous year[113]. - The number of R&D personnel rose to 1,209 in 2021, an increase of 3.25% from 1,171 in 2020[119]. Strategic Initiatives - The company has established a new business division focused on developing new energy products, particularly air conditioning systems[76]. - The company aims to enhance its international presence and technical leadership while improving overall competitiveness in the automotive thermal exchange field[80]. - The company plans to achieve an operating revenue of 8.8 billion RMB in 2022, aiming for 9.2 billion RMB, with over 25% of revenue coming from new energy products[159]. - The company aims to improve the net profit margin by 1-2 percentage points year-on-year through internal improvements and cost control measures[162]. - The company is committed to enhancing its internationalization efforts, particularly through the establishment of factories in Mexico and Poland[166]. Corporate Governance - The company maintained a governance structure that complies with the requirements of the "Corporate Governance Guidelines" and relevant laws, ensuring a high level of corporate governance[186]. - The company has a total of 9 board members, including 3 independent directors, ensuring compliance with legal and regulatory requirements[186]. - The company has independent financial accounting and internal audit departments, ensuring independent financial decision-making[191]. - The company has a clear asset ownership structure, with no overlap or interference from the controlling shareholder[191]. - The company has established a transparent information disclosure system, ensuring timely and accurate communication with investors[186]. Risks and Challenges - The company faces macroeconomic volatility risks that could impact orders for commercial vehicles, passenger cars, and new energy vehicles, affecting overall performance[172]. - Fluctuations in raw material prices, particularly metals like aluminum, steel, iron, and copper, significantly impact production costs and profitability[173]. - Intense market competition in the automotive parts manufacturing sector necessitates improvements in product competitiveness and brand influence to maintain market share[174]. - Exchange rate fluctuations pose risks to the company's international competitiveness, especially as it exports products to the US and Europe, using USD and EUR for transactions[175].

Revenue and Profitability - Revenue for Q3 2021 reached ¥1,777,355,483.37, an increase of 18.58% compared to the same period last year[5] - Net profit attributable to shareholders was ¥40,352,786.85, a decrease of 46.48% year-on-year[5] - Net profit excluding non-recurring gains and losses was ¥28,891,466.14, down 52.58% from the previous year[5] - The company's basic earnings per share decreased to ¥0.05, a drop of 50.00% compared to the same period last year[5] - Net profit for the current period was ¥250,966,114.98, a decrease of 18.4% from ¥308,204,583.59 in the previous period[28] - The basic earnings per share decreased to ¥0.27 from ¥0.36, reflecting a decline of 25%[31] - The company reported a total comprehensive income of ¥313,563,200.11, compared to ¥299,899,912.97 in the previous period, an increase of 4.5%[31] Assets and Liabilities - Total assets at the end of Q3 2021 amounted to ¥11,584,026,000.24, representing a 17.53% increase from the end of the previous year[5] - Total current assets as of September 30, 2021, reached CNY 7,199,497,018.53, an increase from CNY 5,964,774,113.82 as of December 31, 2020, representing a growth of approximately 20.7%[19] - Total assets reached CNY 11,584,026,000.24, up from CNY 9,856,245,406.68, representing a growth of approximately 17.5%[21] - Total liabilities increased to CNY 5,732,588,478.65 from CNY 5,116,743,273.53, indicating a rise of about 12.0%[21] - The total liabilities reached ¥6,775,741,472.18, up from ¥5,494,558,582.87, indicating a growth of 23.3%[25] - Total liabilities rose to 5,124,253,797.05 from 5,116,743,273.53[41] - Total liabilities amounted to approximately 5.49 billion, a slight decrease from 5.54 billion in the previous period, with a change of 41 million[45] Cash Flow - The company reported a significant increase in cash flow from operating activities, with a net cash flow of ¥368,728,825.14, up 885.81% year-on-year[5] - Cash inflow from operating activities was ¥4,552,530,435.78, compared to ¥3,189,103,304.94 in the previous period, representing an increase of 42.7%[32] - Net cash flow from operating activities was 368,728,825.14, a significant improvement from -46,923,192.05 in the previous period[35] - Total cash outflow from operating activities reached 4,183,801,610.64, compared to 3,236,026,496.99 previously[35] - Cash inflow from investment activities was 524,953,005.10, down from 633,693,176.38 in the prior period[35] - Net cash flow from investment activities was -1,101,069,166.37, worsening from -179,005,122.68[35] - Cash inflow from financing activities totaled 2,857,666,976.30, compared to 1,543,061,818.52 previously[35] - Net cash flow from financing activities improved to 789,970,585.42 from 272,804,579.48[35] - The ending balance of cash and cash equivalents increased to 721,439,611.73 from 555,531,399.29[35] Operating Performance - The total operating income for the year-to-date reached ¥5,831,830,519.33, reflecting a 29.35% increase year-on-year[13] - The company experienced a 36.36% rise in operating costs, totaling ¥4,630,970,751.33, primarily due to rising material prices[13] - Total operating revenue for the current period reached ¥5,831,830,519.33, an increase of 29.3% compared to ¥4,508,478,360.44 in the previous period[25] - Total operating costs amounted to ¥5,552,076,973.90, up 32.5% from ¥4,190,799,615.06 in the prior period[28] Investments and Shareholder Information - The company’s investment income decreased by 76.25% to ¥18,383,447.11, mainly due to the sale of stocks in the previous year[13] - The company reported a total of 42,437 common shareholders at the end of the reporting period[16] - The top ten shareholders held a combined 42.10% of the total shares, with the largest shareholder owning 10.16%[16] Research and Development - Research and development expenses increased to ¥238,233,689.78, compared to ¥209,546,857.89 in the previous period, reflecting a growth of 13.7%[28] Other Financial Metrics - The company reported a retained earnings of approximately 2.05 billion, with a slight decrease of about 1.9 million from the previous period[45] - Non-current liabilities totaled approximately 377.82 million, remaining stable compared to previous figures[45] - Deferred income was reported at approximately 102.27 million, indicating stability in revenue recognition[45] - The company’s total equity was approximately 4.36 billion, reflecting a minor decrease of about 1.9 million[45] - The company implemented the new leasing standards starting January 1, 2021, which will not affect prior financial results[46] - The company’s financial report for the third quarter was not audited, indicating a potential area for further scrutiny[49]

Financial Performance - The company's operating revenue for the reporting period was approximately ¥4.05 billion, representing a 34.72% increase compared to the same period last year[29]. - The net profit attributable to shareholders decreased by 13.86% to approximately ¥175.37 million, down from ¥203.59 million in the previous year[29]. - The net cash flow from operating activities improved significantly, reaching approximately ¥77.86 million, a 195.88% increase from a negative cash flow of ¥81.20 million in the same period last year[29]. - Total assets increased by 17.24% to approximately ¥11.56 billion, compared to ¥9.86 billion at the end of the previous year[29]. - The net assets attributable to shareholders rose by 9.16% to approximately ¥4.30 billion, up from ¥3.94 billion at the end of the previous year[29]. - The company's operating revenue for the reporting period reached ¥4,054,475,035.96, representing a year-on-year increase of 34.72% due to the release of pre-ordered production in the passenger car sector, particularly in new energy vehicles[77]. - The gross profit margin for the heat exchanger segment was 20.72%, with operating revenue of ¥3,328,416,453.94, which increased by 37.35% compared to the previous year[85]. - The company reported a decrease in sales expenses by 6.10% to ¥134,035,075.55, attributed to the reclassification of certain costs to operating expenses[77]. Research and Development - The company reported a focus on internal improvements and technological R&D to enhance product competitiveness and promote sustainable development[7]. - The company emphasizes technological innovation and new product development, with a commitment to enhancing its R&D capabilities[54]. - The company has established R&D centers in Shanghai, Europe, and North America, contributing to its competitive edge in technology and product quality[56]. - As of June 2021, the company holds over 700 patents, including 81 invention patents and 5 international patents, demonstrating its strong R&D capabilities[70]. - Research and development investment amounted to ¥163,422,528.80, reflecting a 33.66% increase year-on-year, driven by the growth of new energy-related projects[77]. - The company focuses on technological innovation in the fields of new energy vehicle thermal management and air conditioning systems, establishing partnerships with several prestigious universities[70]. Market Strategy and Clientele - The company has established production bases and R&D centers in various locations, including North America and Europe, to support its international strategy[40]. - Major clients in the new energy vehicle sector include Volvo, Porsche, and NIO, indicating a strong market presence[52]. - The company has established a global production layout to meet customer demands, with subsidiaries and production bases in multiple regions including the US, Sweden, and Poland[59]. - The company has received significant orders in the new energy and commercial vehicle sectors, with projected annual sales revenue of nearly 2.92 billion yuan from new projects, of which approximately 66% will come from new energy business[66]. - The company is expanding its business into emerging fields such as intelligent driving and photovoltaic energy storage, providing long-term growth opportunities[75]. Environmental and Social Responsibility - Zhejiang Yinlun Machinery Co., Ltd. reported a total emission of 24.644 tons of COD, well below the approved limit of 122.1 tons[123]. - The company achieved a nitrogen emission of 2.6 tons, significantly under the approved limit of 2.298 tons[123]. - The wastewater treatment facility has a capacity of 100 tons per hour, operational since March 2012, ensuring compliance with environmental standards[126]. - The company has invested over 1.1 million RMB in supporting local tea industry development, increasing cultivated area from 82 acres to over 1,000 acres[133]. - A total of 610,000 RMB was donated during the reporting period, including 410,000 RMB to the local charity association[134]. - The company has established multiple funds for education and healthcare, including the Tianyi Foundation to support local medical services[134]. - The company collaborates with local suppliers to enhance their management and operational capabilities, benefiting over 40 suppliers[133]. - The company has implemented advanced air pollution control technologies since 2008, ensuring compliance with emission standards[126]. - The company is committed to developing green technologies, including systems for new energy vehicles and waste heat recovery[132]. Financial Management and Investments - The total cash and cash equivalents increased by 739.32% to ¥487,816,929.62, mainly due to funds raised from the public issuance of convertible bonds[81]. - The company has implemented a second employee stock ownership plan, with 410 participants holding 8,130,039 shares, accounting for 1.03% of the total share capital[67]. - The total transaction amount for the employee stock plan was ¥63,284,405.26, with an average purchase price of approximately ¥7.78 per share[118]. - The company has not engaged in derivative investments during the reporting period[100]. - The company has not engaged in any major litigation or arbitration matters during the reporting period[149]. - The company has not entered into any leasing agreements during the reporting period[161]. - The company reported zero external guarantees approved or executed during the reporting period[160]. - The total approved guarantee amount for subsidiaries during the reporting period is CNY 84,775 million[168]. - The actual guarantee amount incurred for subsidiaries during the reporting period is CNY 39,383.23 million[168]. - The total actual guarantee amount represents 9.16% of the company's net assets[169]. Risks and Challenges - The company is affected by changes in the domestic and international economic environment, market competition, raw material price fluctuations, and exchange rate volatility[7]. - The company faces macroeconomic fluctuations that could affect orders and performance, particularly in the commercial vehicle and new energy vehicle sectors[105]. - Raw material costs, which account for approximately 80% of the main business costs, pose a risk due to price volatility of metals like aluminum, steel, and copper[106]. - The automotive parts manufacturing industry is highly competitive, and the company must enhance product competitiveness to maintain market share[107]. - Exchange rate fluctuations may impact the company's international competitiveness, especially as products are sold in USD and EUR[108].