Financial Performance - The company's operating revenue for 2018 was ¥2,145,417,733.54, representing a 10.45% increase compared to ¥1,942,510,492.16 in 2017[24]. - The net profit attributable to shareholders for 2018 was -¥204,655,377.04, a decrease of 88.93% from -¥108,324,384.12 in 2017[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥246,709,935.62, a decline of 93.39% compared to -¥127,572,424.00 in 2017[24]. - The basic and diluted earnings per share for the year were both -0.5723 CNY, a decrease of 82.38% compared to the previous year[27]. - The weighted average return on equity was -10.94%, down from -6.21% in the previous year[27]. - The company reported a significant decrease in net profit, indicating challenges in its operational performance[24]. - The company reported a net profit attributable to ordinary shareholders of -204,655,377.04 yuan for 2018, with no cash dividends distributed[120]. Revenue Breakdown - Lithium battery business revenue reached ¥1,142,307,044.59, up 22.23% year-on-year, primarily due to a significant increase in orders for new energy passenger vehicles[49]. - Revenue from automotive molds and components was ¥860,452,623.32, down 5.44% year-on-year, mainly due to reduced orders from key customers[49]. - The total revenue for the fourth quarter was 872,440,521.68 CNY, with a net profit attributable to shareholders of -105,038,164.30 CNY[30]. - The company’s overseas revenue increased by 70.07% year-on-year, reaching ¥306,586,699.19, reflecting successful market expansion efforts[49]. - The company’s revenue in the Southwest region reached approximately ¥426.16 million, showing a year-over-year increase of 6.62%[56]. Cash Flow and Investments - Cash generated from operating activities was -¥186,989,080.67, an improvement of 14.35% from -¥269,614,073.57 in 2017[24]. - Operating cash inflow for 2018 was CNY 2,253,983,622.32, an increase of 15.58% compared to 2017[70]. - Cash flow from financing activities increased by 117.03% to CNY 2,048,749,987.94, primarily due to capital contributions received[70]. - The net increase in cash and cash equivalents was -CNY 84,154,030.42, a significant improvement of 90.04% from -CNY 845,276,249.32 in the previous year[70]. - The company invested CNY 590,176,925.04 during the reporting period, a decrease of 10.29% compared to the previous year[80]. Assets and Liabilities - Total assets increased by 1.10% year-over-year to 9,302,533,584.65 CNY[27]. - Net assets attributable to shareholders increased by 7.62% to 1,797,462,823.19 CNY[27]. - The total liabilities decreased, with short-term borrowings reduced from CNY 634,000,000.00 in 2017 to CNY 370,500,000.00 in 2018, a decrease of 41.5%[75]. - The company reported an asset impairment of CNY 254,868,645.23, which accounted for 33.92% of total profit[74]. Research and Development - The company’s R&D investment amounted to ¥193.23 million, representing a 3.31% increase from the previous year[69]. - The proportion of R&D personnel increased to 20.62%, up from 19.02% in the previous year[69]. - The company holds over 400 authorized patents in the lithium battery sector, indicating a strong focus on innovation and technology[48]. Market and Operational Risks - The company has identified market risks, industry technology risks, operational risks, and risks from changes in industrial policies[6]. - The company faces risks from a slowdown in automotive mould demand and intensified competition in the lithium-ion battery market due to subsidy reductions and market saturation[112]. Corporate Governance and Compliance - The company has engaged Deloitte Touche Tohmatsu Certified Public Accountants LLP for auditing services[23]. - The company has not reported any violations of commitments made by its controlling shareholder regarding related party transactions[125]. - The company has maintained a commitment to independent financial decision-making and governance structures[129]. Environmental and Social Responsibility - The company implemented energy-saving measures in 2018, resulting in a cost savings of approximately 7.06 million yuan[167]. - The company actively participated in social welfare activities, providing over 110,000 yuan in assistance to employees in need[170]. - The company’s environmental management systems have been certified, ensuring continuous compliance with emission standards[176]. Future Plans and Strategies - The company plans to focus on the passenger vehicle market and improve its market share in the new energy sector, anticipating rapid growth in the electric vehicle industry over the next few years[107]. - The company aims to optimize resource allocation and improve asset quality through significant asset restructuring in the lithium battery segment in 2019[109]. - The company plans to actively explore new business opportunities while leveraging its strengths in brand, technology, and management[108].

四川成飞集成科技股份有限公司 2018 年第三季度报告正文 证券代码：002190 证券简称：成飞集成 公告编号：2018-062 四川成飞集成科技股份有限公司 2018 年第三季度报告正文 2018 年 10 月 1 四川成飞集成科技股份有限公司 2018 年第三季度报告正文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 公司负责人石晓卿、主管会计工作负责人杨碧琼及会计机构负责人(会计主 管人员)赵永超声明：保证季度报告中财务报表的真实、准确、完整。 2 除下列董事外，其他董事亲自出席了审议本次季报的董事会会议 未亲自出席董事姓名 未亲自出席董事职务 未亲自出席会议原因 被委托人姓名 胡创界 董事 公务冲突 石晓卿 王栋梁 董事 公务冲突 孙毓魁 黄绍浒 董事 公务冲突 石晓卿 四川成飞集成科技股份有限公司 2018 年第三季度报告正文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 √ 是 □ 否 追溯调整或重述原因 会计差错更正 | | ...

Financial Performance - The company's operating revenue for the first half of 2018 was ¥850,061,268.68, representing a 60.34% increase compared to ¥530,177,000.30 in the same period last year[17]. - The net profit attributable to shareholders was -¥53,424,200.05, a significant decline of 1,553.63% from ¥2,823,487.97 in the previous year[17]. - The net cash flow from operating activities was -¥236,432,433.05, which is a 197.46% decrease compared to -¥79,483,840.68 in the same period last year[17]. - The total operating revenue for the reporting period reached CNY 850,061,268.68, representing a year-on-year increase of 60.34% compared to CNY 530,177,000.30 in the same period last year[35]. - The net loss for the period was ¥151,890,667.48, compared to a net loss of ¥24,990,282.96 in the same period last year, reflecting a deterioration in financial performance[143]. - The company anticipates a net loss of between CNY -10,000,000 and CNY -7,000,000 for the first nine months of 2018, compared to a net profit of CNY -757,860.00 in the same period of 2017[72]. Assets and Liabilities - The total assets at the end of the reporting period were ¥9,715,100,410.11, reflecting a 5.58% increase from ¥9,201,348,591.05 at the end of the previous year[17]. - The company's total liabilities decreased to ¥4,386,470,761.17 from ¥5,067,419,486.72, a reduction of approximately 13.5%[136]. - The equity attributable to shareholders of the parent company rose to ¥2,012,658,052.32 from ¥1,670,233,525.28, an increase of approximately 20.5%[136]. - The company's financial liabilities remained at ¥0.00 throughout the reporting period[46]. - The company's cash and cash equivalents increased to RMB 2,402,281,684.14 from RMB 1,917,154,593.66, reflecting a growth of approximately 25.3%[133]. Revenue Breakdown - The automotive mold revenue reached 27,908,000 CNY, a significant increase of 170.86% compared to the previous year, primarily due to increased delivery volumes[31]. - Lithium battery business revenue grew by 127.37% to 34,980,000 CNY, attributed to successful applications for new energy vehicle models and increased orders in the bus and logistics vehicle markets[31]. - Revenue from automotive molds surged by 170.86% to CNY 279,079,627.50, while the cost of sales increased by 198.39% to CNY 247,095,251.41, leading to a decline in gross margin[37]. - Revenue from lithium batteries and power systems increased by 127.37% to CNY 349,798,607.33, but the cost of sales rose by 211.83% to CNY 360,964,256.38, resulting in a significant drop in gross margin[38]. Cash Flow - The net cash flow from financing activities was CNY 1,044,684,758.73, a substantial increase of 1,626.07% compared to a negative cash flow of CNY 68,455,758.18 in the previous year[36]. - The company reported a net increase in cash and cash equivalents of CNY 479,147,911.68, a significant improvement of 220.17% from a decrease of CNY 398,719,761.09 in the same period last year[36]. - The company's operating cash flow was negative at CNY -236,432,433.05, a decline of 197.46% compared to the previous year, primarily due to increased material payments by AVIC Lithium Battery Jiangsu[36]. Investment and R&D - Research and development expenses increased by 69.73% to CNY 90,921,932.10, primarily due to enhanced investment in product technology by the subsidiary AVIC Lithium Battery[36]. - The company plans to enhance R&D investment to improve core competitiveness and maintain technological leadership in the market[73]. - The company has invested ¥393,779,987.94 in the lithium battery industry, with the project total investment amounting to ¥1,433,200,000.00[50]. Market and Operational Risks - The company faced significant market, technological, and operational risks during the reporting period[5]. - The company faced challenges in achieving expected returns due to significant declines in battery prices and increased competition in the industry[61]. - The lithium battery business is facing challenges due to intensified market competition, leading to a significant drop in product prices and a corresponding decline in gross margins[71]. Corporate Governance and Structure - The company has not declared any cash dividends or stock bonuses for the half-year period[80]. - The company did not undergo any changes in its controlling shareholder during the reporting period[119]. - The company has not encountered any issues regarding the use and disclosure of raised funds[63]. - The company plans to establish a joint venture with Continental AG for a low-pressure battery system project, with a total registered capital of 130 million yuan, where Continental will contribute 78 million yuan and the company will contribute 18.2 million yuan[92]. Accounting and Financial Reporting - The financial report for the first half of 2018 was not audited[131]. - The financial statements are prepared based on the accounting standards issued by the Ministry of Finance and reflect the company's financial position as of June 30, 2018[177]. - The company conducts impairment testing on financial assets at each balance sheet date, recognizing impairment losses when there is objective evidence of impairment[197].

四川成飞集成科技股份有限公司 2018 年第一季度报告正文 证券代码：002190 证券简称：成飞集成 公告编号：2018-040 四川成飞集成科技股份有限公司 2018 年第一季度报告正文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 公司负责人石晓卿、主管会计工作负责人杨碧琼及会计机构负责人(会计主 管人员)赵永超声明：保证季度报告中财务报表的真实、准确、完整。 2 除下列董事外，其他董事亲自出席了审议本次季报的董事会会议 未亲自出席董事姓名 未亲自出席董事职务 未亲自出席会议原因 被委托人姓名 黄绍浒 董事 公务冲突 石晓卿 孙毓魁 董事 公务冲突 石晓卿 盛毅 独立董事 会议冲突 蒋南 四川成飞集成科技股份有限公司 2018 年第一季度报告正文 第二节 公司基本情况 一、主要会计数据和财务指标 2018 年 04 月 1 四川成飞集成科技股份有限公司 2018 年第一季度报告正文 公司是否需追溯调整或重述以前年度会计数据 √ 是 □ 否 追溯调整或重述原因 会计差错更正 | | ...

四川成飞集成科技股份有限公司 2017 年年度报告全文 四川成飞集成科技股份有限公司 2017 年年度报告 2018 年 04 月 1 四川成飞集成科技股份有限公司 2017 年年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连 带的法律责任。 公司负责人石晓卿、主管会计工作负责人杨碧琼及会计机构负责人(会计主 管人员)赵永超声明：保证年度报告中财务报告的真实、准确、完整。 除下列董事外，其他董事亲自出席了审议本次年报的董事会会议 | 未亲自出席董事姓名 | 未亲自出席董事职务 | 未亲自出席会议原因 | 被委托人姓名 | | --- | --- | --- | --- | | 黄绍浒 | 董事 | 公务冲突 | 石晓卿 | | 孙毓魁 | 董事 | 公务冲突 | 石晓卿 | | 盛毅 | 独立董事 | 会议冲突 | 蒋南 | 根据公司财务报告内部控制重大缺陷的认定情况，于内部控制评价报告基 准日，公司存在财务报告内部控制重大缺陷 1 项，详细内容见本报告"九、内部 控制评价报告 1 ...

四川成飞集成科技股份有限公司 2017 年第三季度报告正文 证券代码：002190 证券简称：成飞集成 公告编号：2017-051 四川成飞集成科技股份有限公司 2017 年第三季度报告正文 2017 年 10 月 1 四川成飞集成科技股份有限公司 2017 年第三季度报告正文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人李宗顺、主管会计工作负责人杨碧琼及会计机构负责人(会计主 管人员)杨碧琼声明：保证季度报告中财务报表的真实、准确、完整。 2 四川成飞集成科技股份有限公司 2017 年第三季度报告正文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 9,064,654,815.80 | 8,833,904,511 ...

四川成飞集成科技股份有限公司 2017 年半年度报告全文 四川成飞集成科技股份有限公司 2017 年半年度报告 2017 年 08 月 1 四川成飞集成科技股份有限公司 2017 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的 真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和 连带的法律责任。 公司负责人李宗顺、主管会计工作负责人杨碧琼及会计机构负责人(会计主 管人员)杨碧琼声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 公司主要存在市场风险、行业技术风险和经营风险，敬请广大投资者注意 投资风险。详细内容见本报告"第四节经营情况讨论与分析之十 公司面临的风 险和应对措施"。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 四川成飞集成科技股份有限公司 2017 年半年度报告全文 第二节 公司简介和主要财务指标 一、公司简介 2 | 目录 | | --- | | 第一节 | 重要提示、目录和释义 | 2 | | --- | --- | --- | | 第二节 | 公司简 ...

Financial Performance - The company's operating revenue for 2014 was CNY 918,665,642.41, representing a 17.95% increase compared to CNY 778,883,891.21 in 2013[21] - The net profit attributable to shareholders for 2014 was CNY 41,205,775.65, a decrease of 9.14% from CNY 45,349,499.47 in 2013[21] - The basic earnings per share for 2014 were CNY 0.120, down 7.69% from CNY 0.130 in 2013[21] - The weighted average return on net assets for 2014 was 2.55%, a decrease of 0.32% from 2.87% in 2013[21] - The company achieved a net profit of ¥51,851,634.51, with a profit distribution plan proposing a cash dividend of ¥0.70 per 10 shares, totaling ¥24,163,186.74[89] - The cash dividend for 2014 represented 58.64% of the net profit attributable to shareholders, which was ¥41,205,775.65[91] - The total distributable profit for 2014 was ¥244,201,191.83, after accounting for a 10% legal reserve of ¥5,185,163.45[89] - The net profit for the current period was CNY 51,851,634.51, down 18.5% from CNY 63,516,979.29 in the previous period[194] Cash Flow and Assets - The net cash flow from operating activities was negative CNY 39,327,976.67, a decline of 214.78% compared to CNY 34,263,201.61 in 2013[21] - The company's cash and cash equivalents decreased from RMB 768,538,650.30 at the beginning of the year to RMB 363,802,676.19 by year-end[180] - The total amount of accounts receivable increased by ¥209,639,000 compared to the beginning of the year, contributing to significant cash flow discrepancies[45] - The company's total assets at the end of 2014 amounted to CNY 3,352,444,765.80, an increase of 8.37% from CNY 3,093,522,525.24 at the end of 2013[21] - The company's total liabilities as of December 31, 2014, were RMB 1,200,000,000, with a current ratio of approximately 1.48[181] - The company's cash and cash equivalents decreased to CNY 116,088,325.09 from CNY 121,449,762.02, a decline of 4.5%[184] Revenue Sources and Growth - The main business income reached 906,948,611.70 yuan, with a growth of 17.66%, driven by a 55.62% increase in lithium battery and power system products revenue to 404,282,338.27 yuan[31] - The automotive mold revenue was 306,745,755.04 yuan, up 3.22% year-on-year, while automotive parts revenue decreased by 15.31% to 101,577,111.02 yuan due to reduced orders[31] - The company’s lithium-ion battery sales volume increased by 62.20% to 5,896,000 AH, supported by improved market conditions and successful customer cultivation[32] - The total operating revenue for the manufacturing sector reached ¥906,948,611.70 in 2014, representing a year-on-year increase of 20.24%[48] Research and Development - The company applied for 88 patents in 2014, including 36 invention patents, and obtained 62 patents, with 9 being invention patents[29] - The company has accumulated 249 patent applications in lithium-ion battery technology, with 160 patents granted, including 12 invention patents[55] - The company’s research and development expenses decreased by 11.71% to 59,395,594.04 yuan[28] - Research and development expenditure accounted for 6.47% of operating income in 2014, down from 8.64% in 2013, indicating a decrease of 2.17%[43] Market and Competitive Landscape - The automotive market in China is projected to grow steadily, with an expected production of 25.13 million vehicles in 2015, reflecting a growth rate of 7%[75] - The lithium battery sector is experiencing rapid growth, driven by favorable government policies and increasing demand for new energy vehicles, leading to a supply-demand imbalance in the market[76] - The company aims for a revenue growth of 0%-50% and a net profit decline of 10%-40% for 2015, indicating a high level of uncertainty influenced by market conditions and operational efforts[81] - The company plans to explore new materials and develop high-power lithium iron phosphate batteries and fast-charging batteries to meet market demands[84] Corporate Governance and Compliance - The company actively engages in corporate governance and timely information disclosure to protect investor rights and interests[94] - The company has established a governance structure consisting of the shareholders' meeting, board of directors, supervisory board, and management, ensuring effective division of responsibilities and checks and balances[145] - The company has maintained compliance with information disclosure regulations, ensuring timely and accurate information dissemination to investors[147] - There were no regulatory actions or administrative penalties against the company during the reporting period, and no insider trading incidents were reported[149] Employee and Management Structure - The total number of employees as of December 31, 2014, is 2,161, with 539 in the parent company and 1,622 in subsidiaries[139] - The company hired 38 new technical personnel from key national universities in 2014 to strengthen its technical team[138] - The total remuneration for directors, supervisors, and senior management during the reporting period amounts to CNY 234.96 million[137] - The company has implemented a strict salary control policy based on the principle of "two lows" while rewarding key positions and frontline technical and production roles[142] Risks and Challenges - The company faces risks including policy environment risk, market risk, and product technology risk[12] - The company has faced challenges in its investment in Anhui Chengfei Integration Ruihu Automotive Mould Co., Ltd., primarily due to pricing issues and rising costs[72] - The company faces risks from the lithium-ion battery market due to a lack of participation from mainstream automakers and the slow market development caused by local protectionism in policy subsidies[83]

Financial Performance - The company's operating revenue for Q1 2015 was ¥250,066,817.16, representing a 161.94% increase compared to ¥95,466,207.14 in the same period last year[10] - The net profit attributable to shareholders for Q1 2015 was ¥9,352,953.16, a significant turnaround from a loss of ¥7,239,968.13 in the previous year, marking a 229.19% increase[10] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥6,308,293.23, compared to a loss of ¥10,819,184.22 in the same period last year, reflecting a 158.31% improvement[10] - The basic earnings per share for Q1 2015 was ¥0.03, up 250% from a loss of ¥0.02 per share in the previous year[10] - The company's operating revenue increased by 154.60 million yuan, a growth of 161.94%, primarily due to the recovery in the lithium battery business and significant revenue growth from subsidiaries[18] - Net profit attributable to the parent company's shareholders increased by 26.54 million yuan, a growth of 229.19%, driven by substantial growth in operating revenue[18] - The company expects to achieve a net profit of between 6.50 million yuan and 15.60 million yuan for the first half of 2015, compared to a net loss of 2.43 million yuan in the same period last year[21] - The significant improvement in net profit is attributed to the substantial growth in revenue from the lithium battery business and a significant reduction in losses from the subsidiary[21] Assets and Liabilities - The total assets at the end of the reporting period were ¥3,455,737,751.83, an increase of 3.08% from ¥3,352,444,765.80 at the end of the previous year[10] - The net assets attributable to shareholders at the end of the reporting period were ¥1,638,236,070.85, a slight increase of 0.60% from ¥1,628,523,008.63 at the end of the previous year[10] - Short-term borrowings increased by 61.54% to ¥400,000,000, mainly due to increased working capital loans for a subsidiary[17] - The company's tax payable decreased by 76.38% to ¥1,611,000, as the company completed its tax payments for the previous year[17] Cash Flow - The net cash flow from operating activities was negative at -¥85,752,301.66, worsening from -¥37,484,820.24 in the same period last year, indicating a 128.77% decline[10] - The net cash flow from operating activities decreased by 48.27 million yuan, a decline of 128.77%, primarily due to increased cash payments for goods and services[19] - The net cash flow from financing activities increased by 44.35 million yuan, a growth of 684.56%, mainly due to increased cash received from borrowings[19] Operating Costs and Expenses - Operating costs rose by 115.22 million yuan, an increase of 143%, in line with the growth in operating revenue[18] - Financial expenses increased by 3.01 million yuan, a staggering growth of 1,042.82%, mainly due to increased borrowings and reduced interest income[18] - The company reported a significant increase in other non-current assets, which rose by 36.91% to ¥239,900,000, primarily due to prepayments for research equipment by a subsidiary[17]

Financial Performance - Operating revenue for the reporting period was CNY 183,131,702.20, representing a year-on-year increase of 30.39%[8] - Net profit attributable to shareholders was CNY 7,640,365.53, a significant increase of 876.45% compared to the same period last year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 5,182,574.40, up 162.38% year-on-year[8] - Net profit attributable to the parent company decreased by 75.41% year-on-year, down by 15.99 million CNY, primarily due to increased management expenses and asset impairment losses[17] - The company expects net profit attributable to shareholders for 2014 to range from 22.68 million CNY to 45.35 million CNY, representing a decrease of 50.00% to 0.00% compared to the previous year[22] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 3,238,395,657.98, an increase of 4.68% compared to the end of the previous year[8] - The company's total liabilities decreased by 0.65% compared to the previous year, with net assets attributable to shareholders at CNY 1,591,841,254.21[8] - The number of ordinary shareholders at the end of the reporting period was 58,778, with the largest shareholder, China Aviation Industry Corporation, holding 51.33%[11] Cash Flow - Cash flow from operating activities for the year-to-date was CNY 5,997,626.83, an increase of 139.98%[8] - Cash flow from operating activities increased by 139.98% year-on-year, rising by 21.00 million CNY, mainly due to an increase in sales receipts[18] - Cash flow from investing activities decreased by 95.99% year-on-year, down by 158.51 million CNY, mainly due to higher investment in financial products by the subsidiary AVIC Lithium Battery compared to the same period last year[18] Inventory and Assets Management - The company experienced a 43.26% decrease in cash and cash equivalents compared to the beginning of the year, primarily due to investments in production equipment and construction[15] - Inventory increased by 39.22% compared to the beginning of the year, indicating a rise in work-in-progress[15] - Other current assets surged by 493.14% compared to the beginning of the year, attributed to investment in financial products by a subsidiary[15] - R&D expenses increased by 52.44% compared to the beginning of the year, rising by 1.99 million CNY, mainly due to increased investment in research and development by the subsidiary AVIC Lithium Battery[16] - Accounts payable increased by 90.78% compared to the beginning of the year, rising by 65.35 million CNY, primarily due to an increase in bank acceptance bills issued by the company[16] - Advance receipts increased by 150.06% compared to the beginning of the year, rising by 76.36 million CNY, mainly due to progress payments received for automotive mold projects[16] Management and Future Outlook - Management expenses are expected to increase compared to the previous year, contributing to a decline in operating performance[23]