Financial Performance - Operating revenue for the reporting period was CNY 430,444,215.27, down 9.40% year-on-year [8]. - Net profit attributable to shareholders was a loss of CNY 7,893,394.03, a decline of 156.59% compared to the same period last year [8]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 10,238,605.30, a decrease of 186.81% year-on-year [8]. - Basic earnings per share were CNY -0.0126, down 156.50% compared to the same period last year [8]. - Operating profit decreased by 64.32% year-on-year, primarily due to an increase in operating costs and expenses [16]. - The company reported a net profit margin decline due to increased operating costs, impacting overall profitability [34]. - The net profit for the third quarter was a loss of CNY 4,286,907.91, compared to a profit of CNY 24,623,759.67 in the same period last year [36]. - The total profit for the third quarter was a loss of CNY 4,463,915.16, compared to a profit of CNY 27,396,822.47 in the same period last year [36]. - The net profit attributable to the parent company for Q3 2019 was CNY 13,146,640.45, a decrease from CNY 54,154,467.75 in the same period last year, representing a decline of approximately 75.7% [43]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,782,985,763.47, a decrease of 2.48% compared to the end of the previous year [8]. - The total assets decreased from 4,904,749,215.99 yuan at the end of 2018 to 4,782,985,763.47 yuan as of September 30, 2019 [26]. - The company's total assets as of September 30, 2019, were CNY 4,354,333,793.44, a decrease from CNY 4,507,276,707.22 at the end of 2018 [33]. - Total liabilities decreased to CNY 1,589,660,613.18 from CNY 1,743,454,999.17 year-over-year, indicating a reduction of 8.8% [32]. - Total liabilities amounted to CNY 1,980,292,956.62, with total equity at CNY 2,924,456,259.37, resulting in total assets of CNY 4,904,749,215.99 [59]. - The total current liabilities amount to ¥1,600,814,724.01, reflecting the company's short-term financial obligations [58]. Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 79,212,407.09, an increase of 113.94% [8]. - Net cash flow from operating activities increased by 113.94% year-on-year, mainly due to a decrease in cash payments for goods and services and taxes [16]. - The net cash flow from operating activities was CNY 79,212,407.09, an increase from CNY 37,025,103.06 in the same period last year, showing an improvement of about 114.4% [50]. - The net cash flow from operating activities for the current period is ¥32,338,405.35, a significant increase compared to ¥493,181.41 in the previous period [53]. - The total cash outflow from financing activities was CNY 1,075,217,126.14, compared to CNY 1,390,118,536.91 in the same period last year, indicating a decrease of about 22.6% [50]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 33,690 [12]. - The largest shareholder, Sichuan Shengbang Chuangheng Enterprise Management Co., Ltd., held 28.01% of the shares [12]. Research and Development - Research and development expenses increased by 250.33% year-on-year, mainly due to the accounting of R&D expenditures in the previous year [16]. - Research and development expenses increased significantly to CNY 12,268,724.09, compared to CNY 2,932,181.37 in the previous year, marking a growth of 318.5% [34]. - Research and development expenses for the third quarter were CNY 7,200.66, a decrease from CNY 9,676.21 in the previous year [38]. - Research and development expenses increased to CNY 58,811.36 from CNY 13,952.18, marking a rise of approximately 320.5% [46]. Other Financial Metrics - The weighted average return on net assets was -0.28%, compared to -0.80% in the previous year [8]. - Cash and cash equivalents decreased by 113.61% year-on-year, mainly due to a decrease in net cash flow from financing activities [16]. - Cash and cash equivalents decreased to CNY 410,032,443.77 from CNY 480,674,756.70, representing a decline of 14.6% [30]. - The total comprehensive income for the period was CNY 30,284,299.14, compared to CNY 80,580,111.43 in the previous year, indicating a decline of approximately 62.5% [43]. - The company incurred financial expenses of CNY 6,566,608.43, down from CNY 11,342,951.96 in the previous period [38].

Financial Performance - The company's operating revenue for the first half of 2019 was approximately ¥956.73 million, representing a 3.76% increase compared to ¥922.09 million in the same period last year[18]. - The net profit attributable to shareholders decreased by 47.67% to ¥21.04 million from ¥40.21 million year-on-year[18]. - The net profit after deducting non-recurring gains and losses fell by 69.87% to ¥11.01 million compared to ¥36.54 million in the previous year[18]. - The net cash flow from operating activities was ¥9.99 million, down 14.07% from ¥11.63 million in the same period last year[18]. - Basic and diluted earnings per share both decreased by 50% to ¥0.03 from ¥0.06 year-on-year[18]. - The total profit for the first half of 2019 was CNY 41.26 million, a decline of 40.31% compared to CNY 68.94 million in the same period of 2018[155]. - The company reported a net profit increase in retained earnings to CNY 275,301,588.10 from CNY 254,261,553.60, reflecting a growth of approximately 8.43%[147]. - The company reported a net profit of CNY 306.24 million from the Wuhan Xingsheng subsidiary, which is focused on vehicle terminal production and R&D[76]. Assets and Liabilities - The total assets at the end of the reporting period were approximately ¥5.02 billion, an increase of 2.30% from ¥4.90 billion at the end of the previous year[18]. - The total liabilities of the company were not explicitly stated, but the increase in equity suggests a strengthening financial position[169]. - The company's total liabilities reached CNY 2,059,100,825.91, an increase from CNY 1,980,292,956.62, reflecting a rise of about 3.98%[146]. - The total equity at the end of the reporting period is CNY 3,005,107,619.17, with a capital reserve of CNY 1,884,701,340.12 and retained earnings of CNY 434,958,298.94[179]. Cash Flow - The company's cash flow from operating activities decreased by 14.07% to RMB 9.99 million[45]. - The total cash inflow from investment activities was ¥415,151,858.16, significantly higher than ¥40,327,102.07 in the previous year, indicating a substantial increase in investment cash inflows[163]. - The net cash flow from financing activities was ¥63,695,324.39, down from ¥931,360,729.84 in the first half of 2018, representing a decrease of about 93.2%[163]. - The total cash and cash equivalents at the end of the period stood at ¥426,537,149.94, down from ¥1,113,296,892.90 at the end of the previous year, a decline of approximately 61.7%[163]. Research and Development - The company has invested in R&D and innovation, focusing on new product development and technological advancements[34]. - The company's R&D expenses for the reporting period were RMB 31.09 million, a decrease of 5.73% compared to the previous year[45]. - Research and development expenses surged to CNY 23.35 million, compared to CNY 1.77 million in the same period last year, reflecting a significant increase in investment in innovation[153]. Market Strategy and Operations - The company plans not to distribute cash dividends or issue bonus shares[6]. - The report highlights potential risks and corresponding measures the company may face in its operations[5]. - The company has established a strategic layout with three major production bases, enhancing production efficiency and reducing costs[32]. - The company is currently in the construction phase for its projects, with no realized benefits reported yet[66]. - The company plans to enhance its market strategy by focusing on the Belt and Road Initiative and adjusting product offerings to meet market demands[74]. Shareholder and Equity Information - The company has extended the shareholding increase plan by 3 months, with a total increase amount not less than RMB 10 million and not exceeding RMB 100 million[83]. - The total number of shares before the recent changes was 624,781,419, with a significant reduction of 100,374,730 shares, resulting in a new total of 524,406,689 shares[124]. - The company repurchased a total of 4,211,019 shares, accounting for 0.6740% of the total share capital, with a total expenditure of RMB 30,184,780.52[126]. Environmental and Social Responsibility - The company has installed online monitoring facilities for wastewater, tracking five key indicators including COD, pH, total phosphorus, ammonia nitrogen, and flow rate since January 2019[107]. - The company has committed to ongoing social responsibility efforts, including participation in targeted poverty alleviation initiatives[117]. - The company has implemented an emergency response plan for environmental incidents, including the establishment of four hazardous waste warehouses and three waste acid storage tanks[110]. Legal and Compliance Matters - The company reported a litigation amount of 1,080.23 million yuan related to a construction payment dispute, with a court ruling requiring the company to pay the amount plus interest[88]. - The company has no significant litigation or arbitration matters during the reporting period[88]. - The company has not reported any major asset or equity sales during the reporting period[71].

Financial Performance - The company's operating revenue for Q1 2019 was ¥543,139,616.59, representing a 19.60% increase compared to ¥454,146,713.59 in the same period last year[7]. - Net profit attributable to shareholders decreased by 26.18% to ¥18,517,672.73 from ¥25,084,543.84 year-on-year[7]. - The net profit after deducting non-recurring gains and losses fell by 35.63% to ¥14,914,817.04 compared to ¥23,171,061.26 in the previous year[7]. - Operating profit decreased to ¥34,420,888.52, down 18.5% from ¥42,424,310.14 year-over-year[35]. - Net profit for the current period was ¥29,210,403.36, a decline of 20.7% compared to ¥36,799,993.74 in the previous period[35]. - Basic and diluted earnings per share were both ¥0.03, down from ¥0.05 in the prior period[36]. - The company reported a total profit of ¥34,083,731.16, down 22.5% from ¥44,015,559.84 in the previous period[35]. - The total comprehensive income for the current period was ¥28,640,064.24, a decrease of 22.0% compared to ¥36,748,897.32 in the previous period[36]. Cash Flow - The net cash flow from operating activities increased significantly by 216.56% to ¥13,887,224.08, up from a negative cash flow of -¥11,914,190.94 in the same period last year[7]. - Cash inflow from operating activities totaled ¥232,721,360.61, down 30.2% from ¥333,972,802.90 in the prior period, primarily due to a decrease in cash received from sales of goods and services[42]. - Cash outflow from operating activities decreased to ¥218,834,136.53, down 36.8% from ¥345,886,993.84, reflecting cost control measures implemented by the company[42]. - The net cash flow from investment activities was ¥115,860,797.16, a substantial increase from ¥13,261,429.48 in the previous period, driven by significant cash inflows from other investment activities[43]. - The net cash flow from financing activities was ¥2,161,634.34, a decrease from ¥30,035,423.98, reflecting higher debt repayments during the period[43]. - The total cash and cash equivalents at the end of the period increased to ¥562,918,408.52, up from ¥349,327,249.89, indicating improved liquidity[43]. Assets and Liabilities - Total assets at the end of the reporting period were ¥5,099,448,782.22, a 3.97% increase from ¥4,904,749,215.99 at the end of the previous year[7]. - Current liabilities rose to CNY 1,771,000,803.51, up from CNY 1,600,814,724.01, indicating an increase of about 10.65%[27]. - Total liabilities increased to CNY 2,146,352,458.62 from CNY 1,980,292,956.62, representing a growth of about 8.39%[27]. - Owner's equity rose to CNY 2,953,096,323.60 from CNY 2,924,456,259.37, indicating an increase of approximately 0.98%[28]. - Total current assets of RMB 3,260,804,705.90 as of March 31, 2019, compared to RMB 3,057,388,258.32 at the end of 2018[25]. - Total liabilities amount to CNY 1,743,454,999.17, with non-current liabilities at CNY 293,148,195.35[55]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 23,189[11]. - As of March 31, 2019, the company repurchased a total of 4,211,019 shares, accounting for 0.6740% of the total share capital, with a total payment of RMB 30,184,780.52[16]. - The actual net profit attributable to the parent company for 2019 Q1 was RMB 17,100,600, with a target of not less than RMB 20,000,000 and an increase of 700,000 new users[17]. Operational Efficiency - The company reported a net profit margin improvement, although specific figures were not disclosed in the provided content[33]. - The company plans to focus on market expansion and new product development in the upcoming quarters, aiming for sustainable growth[33]. - The company has no violations regarding external guarantees during the reporting period[19]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[20]. - The company is currently undergoing an audit for a share reform, which is affecting the completion of performance commitments[17]. - The company will monitor the issuance of special reports and fulfill its information disclosure obligations in a timely manner[17].

Financial Performance - The company's operating revenue for 2018 was ¥1,889,691,782.61, representing a 1.15% increase compared to ¥1,868,128,413.29 in 2017[18]. - The net profit attributable to shareholders for 2018 was -¥260,149,205.26, a decrease of 518.47% from ¥62,167,361.87 in 2017[18]. - The basic earnings per share for 2018 was -¥0.44, a decline of 466.67% from ¥0.12 in 2017[18]. - The weighted average return on net assets was -9.97% in 2018, down from 3.03% in 2017, indicating a significant decline in profitability[18]. - The company achieved operating revenue of CNY 1,889.69 million in 2018, a year-on-year increase of 1.15%, with main business revenue of CNY 1,677.51 million, up 0.44%[46]. - The net profit attributable to shareholders was CNY -260.15 million, a significant decrease of 518.47% year-on-year, primarily due to inventory and goodwill impairment[41]. - The company’s steel wheel business maintained stable growth, contributing CNY 1,400.89 million, which accounted for 74.13% of total revenue, reflecting a 4.57% increase from the previous year[46]. - The company reported a net profit of -¥250,321,291.13, with a significant difference from the cash flow due to impairment provisions totaling ¥264,405,171.96, which did not affect cash outflows[61]. Cash Flow and Assets - The net cash flow from operating activities improved to ¥5,928,329.92 in 2018, a significant recovery from -¥50,926,122.61 in 2017, marking an increase of 111.64%[18]. - Total assets at the end of 2018 reached ¥4,904,749,215.99, a 14.51% increase from ¥4,283,130,889.41 at the end of 2017[18]. - The net assets attributable to shareholders increased by 34.52% to ¥2,797,338,825.14 at the end of 2018, compared to ¥2,079,427,937.85 at the end of 2017[18]. - The company reported a 42.68% increase in cash and cash equivalents at year-end compared to the beginning of the year, primarily due to funds raised from a private placement[32]. - The total cash inflow from financing activities rose by 52.08% to ¥2,291,392,894.40, attributed to the proceeds from a private placement of shares[60]. - The net increase in cash and cash equivalents was ¥113,064,165.57, a significant turnaround from a decrease of ¥236,027,929.88 in the previous year, reflecting improved cash management[60]. Business Operations and Strategy - The company has expanded its business scope to include vehicle information hardware and solutions since July 2016[17]. - The company continues to focus on the development of steel wheels and vehicle information systems, with over 1,000 product varieties in the steel wheel segment[27]. - The company has established a leading market share in both vehicle enterprise platforms and government platforms, leveraging over a decade of industry experience[28]. - The company has invested in R&D, focusing on lightweight technology, which has achieved advanced levels both domestically and internationally[36]. - The company has established a strategic layout with three major production bases, enhancing production efficiency and reducing costs[34]. - The company plans to enhance its core business in steel wheels while actively expanding into the intelligent connected vehicle sector, aiming to leverage data collection and analysis for competitive advantage[85]. Research and Development - The company increased its R&D investment, focusing on high-end products, lightweight materials, and production automation, leading to the development of advanced lightweight technology recognized at the national level[42]. - The company invested a total of ¥100,805,926.04 in various projects during the reporting period, with a cumulative investment of ¥830,160,000.00[72]. - The company invested in the development of the fifth-generation terminal (inBOX5.0), focusing on C-V2X communication and preparing for the introduction of 5G technology[56]. - The company developed a vehicle firmware remote upgrade system (inFOTA) to enhance product competitiveness and assist automotive enterprises in system construction[59]. Market and Industry Trends - The automotive market in China saw a decline in production and sales, with a year-on-year decrease of 4.20% and 2.80%, respectively, marking the first negative growth in 28 years[83]. - The new energy vehicle sector experienced significant growth, with production and sales reaching 1.27 million and 1.256 million units, respectively, representing year-on-year increases of 59.90% and 61.70%[83]. Corporate Governance and Compliance - The company emphasizes the importance of unified management of innovation and technology development across its business segments to foster collaboration and integrated growth[87]. - The company has established a robust internal control system to protect the rights of shareholders and creditors, ensuring timely and accurate information disclosure[127]. - The company strictly adheres to corporate governance standards and has independent operations from its controlling shareholders[189]. - The company has established effective corporate governance structures, including a shareholders' meeting, board of directors, and supervisory board[194]. Shareholder and Equity Management - The company repurchased 4,211,019 shares, accounting for 0.674% of the total share capital, with a total expenditure of CNY 30.18 million[44]. - The company issued 111,081,369 new shares in April 2018, increasing the total shares from 513,700,050 to 624,781,419, representing a 21.6% increase[147]. - The largest shareholder, Sichuan Shengbang Chuangheng Enterprise Management Co., Ltd., holds 27.83% of the shares, totaling 173,848,000 shares[157]. - The company has committed not to transfer the shares obtained in the recent equity change for 12 months following the transaction[162]. Social Responsibility and Environmental Compliance - The company has actively participated in social responsibility initiatives, including support for education, culture, and health in local communities[129]. - The company is recognized as a key pollutant discharge unit and has implemented measures to treat waste gas and wastewater to comply with environmental standards[134]. - The company has established four hazardous waste warehouses and three waste acid storage tanks, managing five types of hazardous waste with qualified third-party disposal agreements[138].

Financial Performance - Operating revenue for the period was CNY 475,115,765.43, a 6.90% increase year-on-year[9] - Net profit attributable to shareholders decreased by 7.41% to CNY 13,947,478.98 compared to the same period last year[9] - Basic earnings per share decreased by 23.89% to CNY 0.0223[9] - The net profit attributable to shareholders for 2018 is expected to range from 55.95 million to 74.60 million RMB, reflecting a change of -10.00% to 20.00% compared to 2017's net profit of 62.17 million RMB[22] - The company anticipates stable performance in 2018, primarily due to increased sales in the steel wheel business driven by rising market demand from downstream customers[22] - Sales of wireless and integrated products are expected to decline year-on-year due to financial crises faced by certain customers[22] Assets and Liabilities - Total assets increased by 21.80% to CNY 5,216,666,916.58 compared to the end of the previous year[9] - Net assets attributable to shareholders increased by 51.03% to CNY 3,140,557,364.94 compared to the end of the previous year[9] - Cash and cash equivalents increased by 67,848.14 million RMB, primarily due to net cash inflow from financing activities[17] - The company recorded a 149.71% increase in cash and cash equivalents at the end of the period, attributed to funds raised from a private placement of shares[17] - The company’s capital reserve increased by 91.69% due to the funds raised from the private placement of shares[17] - The company’s construction in progress increased by 71.06% due to investments in fundraising projects[17] Cash Flow - Net cash flow from operating activities decreased by 55.11% to CNY 37,025,103.06[9] - The net cash flow from operating activities decreased by 55.11% year-on-year, mainly due to increased cash payments for goods and services[17] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 27,134[13] - The largest shareholder, Wang Zhicheng, holds 29.54% of the shares, amounting to 184,554,639 shares[13] - The company did not engage in any repurchase transactions among the top shareholders during the reporting period[14] Research and Development - Research and development expenses decreased by 48.41% compared to the same period last year, as more R&D investments were capitalized[17] Accounts Receivable - Accounts receivable from Shenzhen Watma Battery Co., Ltd. amounted to 21,720.68 million RMB as of September 30, 2018, with an aging of less than one year[18] - The company has not recognized impairment for accounts receivable from Watma, as there is no objective evidence of impairment at this time[19] - The company is closely monitoring the financial situation of Watma and will conduct impairment tests if repayment issues arise[19] Financial Management - The company has engaged in entrusted financial management, with a total amount of 40 million RMB in bank financial products sourced from idle raised funds[26] - There are no overdue amounts or expected losses related to entrusted financial management[26] Compliance and Governance - The company has no instances of non-compliance regarding external guarantees during the reporting period[23] - There are no non-operational fund occupations by controlling shareholders or related parties reported[24] Investor Relations - The company conducted investor relations activities, including on-site investigations on July 25 and August 3, 2018, with details available on the official website[26] Non-Recurring Items - The company reported non-recurring gains and losses totaling CNY 5,817,768.64 for the year-to-date[10] - The company’s interest income increased by 249.59% year-on-year, primarily from interest earned on structured deposits[17]

Financial Performance - The company's operating revenue for the first half of 2018 was ¥922,092,920.65, representing an increase of 8.50% compared to ¥849,829,904.87 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was ¥40,206,988.77, a slight increase of 0.51% from ¥40,003,878.00 year-on-year[17]. - The net cash flow from operating activities reached ¥11,631,564.29, a significant improvement of 881.84% compared to a negative cash flow of ¥1,487,716.18 in the previous year[17]. - Total assets at the end of the reporting period were ¥5,283,103,238.61, up 23.35% from ¥4,283,130,889.41 at the end of the previous year[17]. - The net assets attributable to shareholders of the listed company increased by 50.60% to ¥3,131,643,053.28 from ¥2,079,427,937.85 at the end of the previous year[17]. - Basic earnings per share decreased by 25.00% to ¥0.06 from ¥0.08 in the same period last year[17]. - The weighted average return on net assets was 1.65%, down from 1.88% in the previous year[17]. - The company achieved a revenue of CNY 922.09 million, representing an 8.5% year-on-year increase, with the main business revenue at CNY 832.40 million, up 8.29% and accounting for 90.27% of total revenue[39]. - The net profit attributable to shareholders was CNY 40.21 million, a slight increase of 0.51%, while the net profit after deducting non-recurring gains and losses was CNY 36.54 million, up 2.94% year-on-year[39]. Cash Flow and Investments - The company’s cash and cash equivalents increased by 193.89% compared to the beginning of the period, mainly due to funds raised from a non-public stock issuance[32]. - The company reported a significant increase in cash inflows from operating activities, totaling CNY 670,171,582.66, slightly down from CNY 675,598,536.00 in the previous year[159]. - Cash outflows from investing activities totaled CNY 187,967,090.67, down from CNY 231,765,934.85 in the previous year, indicating a decrease of about 18.9%[160]. - The company completed a non-public offering of shares, raising a total of CNY 1.037 billion, which will be fully invested in the smart connected vehicle sector to expand the scale of the vehicle networking business[41]. - The total amount of capital contributed by shareholders in the current period was CNY 1,012,059,223.09, showing strong investor confidence[175]. Market and Industry Developments - The company has successfully transformed and upgraded into the intelligent connected vehicle sector, forming a dual business model of steel wheels and intelligent connected vehicle data collection and operation[25]. - In the first half of 2018, domestic automobile production and sales reached 14.06 million units, with year-on-year growth of 4.15% and 5.57% respectively[30]. - The new energy vehicle market saw production and sales of 413,000 units, representing year-on-year growth of 94.9% and 111.55%[30]. - The company has established strategic partnerships with major automotive manufacturers, including BAIC New Energy and others, enhancing its customer resource advantages in the smart connected vehicle industry[37]. - The company has developed a complete industrial chain for smart connected vehicles, focusing on vehicle networking services and participating in the establishment of the Xingsheng Automotive Industry Fund[36]. Risks and Challenges - The company has outlined potential risks and countermeasures in its report, emphasizing the importance of risk awareness for investors[5]. - The company is facing macroeconomic risks, including trade protectionism and policy adjustments, which may negatively impact automotive market demand[77]. - The company is also exposed to industry policy risks, particularly regarding the promotion and subsidies for new energy vehicles, which could affect the connected vehicle business[77]. - The company plans to continue focusing on national industrial policy adjustments and accelerate its own industrial transformation and upgrading[78]. Subsidiaries and Shareholder Information - The subsidiary Tangshan Xingmin reported a net profit of CNY 11,515,160.36, contributing significantly to the company's overall performance[73]. - The subsidiary Xian Ning Xingmin has not achieved profitability due to high production costs and quality issues, with a net loss of CNY 7,516,475.84[74]. - Major shareholder Wang Zhicheng holds 29.54% of the shares, totaling 184,554,639 shares, with 10,706,639 shares released during the reporting period[127]. - The company has a total of 218,771,069 shares under lock-up conditions, with 4,847,850 shares released during the reporting period[128]. Corporate Governance and Compliance - The financial report was approved by the board of directors on August 23, 2018[182]. - The company has not experienced any major litigation or arbitration matters during the reporting period[88]. - The company has not faced any penalties or rectification issues during the reporting period[89]. - The company did not engage in any related party transactions during the reporting period[92]. - The company prepares its financial statements based on the going concern assumption, adhering to the relevant accounting standards and guidelines issued by the Ministry of Finance and the China Securities Regulatory Commission[190].

证券代码：002355 证券简称：兴民智通 公告编号：2018-024 兴民智通（集团）股份有限公司 2018 年第一季度报告正文 兴民智通（集团）股份有限公司 2018 年第一季度报告正文 2018 年 04 月 1 兴民智通（集团）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。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人高赫男、主管会计工作负责人刘荫成及会计机构负责人(会计主 管人员)李亚萍声明：保证季度报告中财务报表的真实、准确、完整。 2 兴民智通（集团）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 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 454,146,713.59 | 403,089,401.18 | 12.67% | | 归属于上市公司股东的净利润（元） | 25,084 ...

Financial Performance - The company's operating revenue for 2017 was CNY 1,868,128,413.29, representing a 44.24% increase compared to CNY 1,295,151,713.44 in 2016[17] - The net profit attributable to shareholders was CNY 62,167,361.87, up 22.34% from CNY 50,816,334.77 in the previous year[17] - The net profit after deducting non-recurring gains and losses was CNY 52,618,519.42, reflecting a 37.72% increase from CNY 38,207,342.74 in 2016[17] - The basic earnings per share increased to CNY 0.12, a 20.00% rise from CNY 0.10 in 2016[17] - The total assets at the end of 2017 were CNY 4,283,130,889.41, a 7.84% increase from CNY 3,971,654,174.48 at the end of 2016[17] - The net assets attributable to shareholders were CNY 2,079,427,937.85, up 2.73% from CNY 2,024,211,174.53 in 2016[17] - The company reported a net profit of RMB 98,336,455.83 for 2017, an increase from RMB 82,655,234.18 in 2016, reflecting a growth of approximately 19.5%[111] Cash Flow and Investments - The net cash flow from operating activities was negative CNY 50,926,122.61, a significant decrease of 129.54% compared to CNY 172,412,306.83 in 2016[17] - Operating cash inflow increased by 19.90% to 898,031,803.93 CNY, but the net cash flow from operating activities turned negative at -50,926,122.61 CNY[63] - The company’s investment activities resulted in a net cash outflow of -179,733,408.96 CNY, an improvement of 54.40% compared to the previous year[63] - The company reported an investment income of CNY 503,903.85, accounting for 0.44% of total profit[66] - The total investment during the reporting period was CNY 250,681,420.20, a decrease of 36.52% compared to the previous year[71] Revenue Sources and Growth - The revenue from steel wheels accounted for 71.71% of total revenue, amounting to RMB 1,339,688,156.66, with a year-on-year growth of 33.40%[46] - The total sales volume of steel wheels reached 11.17 million units, generating revenue of 1.34 billion yuan, representing increases of 6.62% and 33.40% respectively[38] - The company achieved a significant increase in sales volume for vehicle-mounted wireless and integrated products, with sales rising by 139.07% to 316,624 sets[50] - The company achieved a revenue of 1,868.13 million yuan, a year-on-year increase of 44.24%, with main business revenue of 1,670.23 million yuan, up 42.49%[38] Strategic Initiatives and Partnerships - The company has expanded its business scope to include the development and sales of vehicle information hardware and providing vehicle networking system solutions and operational services[16] - The company established a strategic partnership with Shanghai Jinyatuo in the IoT and intelligent connected vehicle sectors, focusing on resource sharing and product development[40] - The company plans to expand its market presence in the intelligent connected vehicle sector through acquisitions and partnerships, including collaborations with Foton Motor[40] - The company has a strategic focus on the dual development of its wheel and intelligent connected vehicle businesses, aiming for efficient growth[31] Research and Development - The company has a strong focus on R&D, continuously increasing investment and enhancing its technical capabilities to meet diverse customer needs[39] - The company completed 76 new product projects and designed 403 new product molds in the steel wheel sector during the reporting period[39] - The company’s T-BOX product has achieved commercial remote ECU rewriting and remote control capabilities, enhancing its competitive edge in the market[34] - The company plans to implement a dual-main business strategy to strengthen its core wheel business and promote smart connected vehicle transformation[93] Shareholder and Dividend Information - The company plans to distribute a cash dividend of CNY 0.10 per 10 shares, based on a total of 624,781,419 shares[5] - The net profit attributable to the parent company's shareholders for 2017 was 62,167,361.87 yuan, with a cash dividend payout ratio of 10.05%[102] - The company has maintained a consistent cash dividend policy over the past three years, with dividends of 0.10 yuan per 10 shares each year[100] - The company’s cash dividends accounted for 100% of the profit distribution total for 2017[103] Governance and Compliance - The company has engaged in multiple investor relations activities throughout the year to maintain communication with stakeholders[97] - The company emphasizes the protection of shareholder and creditor rights, ensuring timely and accurate information disclosure[134] - The company has established an independent financial department and accounting system, ensuring no assets are occupied by the controlling shareholder[186] - The company has a diverse board with members holding various positions in other companies, indicating a broad network and potential for strategic partnerships[161] Market and Industry Trends - In 2017, China's automotive market produced and sold 29.02 million and 28.88 million vehicles, respectively, with year-on-year growth of 3.19% and 3.04%[89] - New energy vehicles saw production and sales of 794,000 and 777,000 units in 2017, representing year-on-year growth of 53.58% and 53.25%[89] - The automotive industry is projected to reach a production volume of approximately 30 million vehicles by 2020 and 35 million by 2025[90] Employee and Management Information - The total number of employees in the company is 2,747, with 1,481 in the parent company and 1,266 in major subsidiaries[175] - The total remuneration for directors and senior management during the reporting period amounts to 288.84 million yuan[175] - The company has established a comprehensive training system to enhance employee skills and knowledge, with annual training plans developed by the HR department[178] - The company employs a salary structure that includes fixed wages, performance bonuses, and position allowances, with specific metrics for production and sales personnel[177]

Financial Performance - Operating revenue for the current period reached CNY 444,454,937.94, a 40.81% increase year-on-year [8] - Net profit attributable to shareholders increased by 36.81% to CNY 15,064,371.74 for the current period [8] - Basic earnings per share rose by 46.50% to CNY 0.0293 [8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 12,077,283.37, up 30.24% year-on-year [8] - Operating revenue increased by 41.12% year-on-year, driven by increased market demand from downstream customers and the consolidation of the subsidiary Jiuwu Zhijia [17] - Operating profit rose by 60.82% year-on-year, resulting from increased gross profit from revenue and the consolidation of Jiuwu Zhijia [17] - The company expects a net profit attributable to shareholders for 2017 to range between 60.00% and 20.00% year-on-year, translating to a profit range of 6,098 to 8,131 thousand yuan [23] Assets and Shareholder Information - Total assets increased by 6.55% to CNY 4,231,764,471.37 compared to the end of the previous year [8] - The total number of shareholders at the end of the reporting period was 35,369 [12] - The largest shareholder, Wang Zhicheng, holds 33.84% of the shares, with 139,000,000 shares pledged [12] Cash Flow and Investments - Cash flow from operating activities decreased by 24.59% to CNY 82,486,874.64 year-to-date [8] - The company's net cash flow from investment activities increased by 50.48% year-on-year, mainly due to a reduction in cash paid for investments and the purchase of principal-protected financial products [17] - The net cash flow from financing activities decreased by 107.85% year-on-year, primarily due to higher cash payments for debt repayment and increased interest payments [17] - Cash and cash equivalents increased by 43.93% year-on-year, attributed to reduced cash outflows from investment activities [17] Non-Recurring Gains and Losses - Non-recurring gains and losses totaled CNY 7,490,845.30, primarily from fixed asset disposal gains and government subsidies [9] Taxation and Borrowings - The company reported a 102.38% year-on-year increase in taxes and surcharges, mainly due to the inclusion of property tax, land use tax, stamp tax, and vessel usage tax [17] - Long-term borrowings increased by 145.99% year-on-year, primarily due to loans obtained by pledging equity for acquisitions [17] Future Plans - The company plans to implement the first employee stock ownership plan, which was approved in August 2017, although no shares have been purchased yet [19] - The company has increased the upper limit of the automotive industry fund from 200 million yuan to 455 million yuan to accelerate the acquisition of remaining equity in Intest [19]

Financial Performance - The company's operating revenue for the first half of 2017 was approximately CNY 849.83 million, representing a 41.28% increase compared to CNY 601.50 million in the same period last year[18]. - The net profit attributable to shareholders for the first half of 2017 was CNY 40.00 million, up 42.73% from CNY 28.03 million year-on-year[18]. - The net profit after deducting non-recurring gains and losses was CNY 35.50 million, reflecting a 48.53% increase from CNY 23.90 million in the previous year[18]. - The basic earnings per share increased by 60.00% to CNY 0.08 from CNY 0.05 in the same period last year[18]. - The total sales volume of steel wheels reached 5.28 million units, generating a revenue of 624 million CNY, which is a 30.14% increase compared to the same period last year[40]. - Jiuwu Zhijia generated revenue of ¥45.52 million and a net profit of ¥3.98 million in the first half of 2017, contributing to the overall financial performance of the company[47]. - The company achieved a revenue of approximately ¥849.83 million in the reporting period, representing a year-on-year increase of 41.28% due to increased market demand and the consolidation of its subsidiary, Jiuwu Zhijia[46]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 4.06 billion, a 2.31% increase from CNY 3.97 billion at the end of the previous year[18]. - The net assets attributable to shareholders at the end of the reporting period were CNY 2.06 billion, up 1.72% from CNY 2.02 billion at the end of the previous year[18]. - The company reported a decrease in cash and cash equivalents by 44.66% compared to the beginning of the period, primarily due to significant cash outflows for investments and operating activities[29]. - Accounts receivable increased to ¥441.59 million, accounting for 10.87% of total assets, primarily due to expanded sales on credit[56]. - Inventory levels rose to ¥1.09 billion, making up 26.81% of total assets, as the company increased stock to support higher sales[56]. - Short-term borrowings increased to ¥1.03 billion, representing 25.40% of total liabilities, reflecting the company's financing needs[56]. Cash Flow - The net cash flow from operating activities was negative CNY 1.49 million, a decline of 103.09% compared to a positive CNY 48.17 million in the same period last year[18]. - The company's operating cash flow net amount was -¥1.49 million, a significant decrease compared to the previous year, primarily due to increased cash payments to employees[47]. - The company reported a net cash outflow from operating activities of CNY -1,487,716.18, contrasting with a net inflow of CNY 48,170,659.84 in the previous period[152]. - The net cash flow from investing activities was -124,606,228.77, worsening from -78,760,123.52 in the previous period[156]. - The net cash flow from financing activities was -86,601,759.45, compared to -62,337,057.06 in the previous period[156]. Investments and Acquisitions - The company invested ¥1.9 billion in the establishment of Weihai Blue Ocean Bank, which commenced operations in June 2017, expected to provide new profit growth points[44]. - The company completed acquisitions of several firms, including 49% of Intest and established a new automotive technology company in Wuhan to enhance its technological capabilities[36]. - The company acquired Wuhan Yingtai Technology Co., Ltd. with an actual investment of 281.93 million CNY, holding a 51% equity stake[178]. - The company also acquired Beijing Jiuwu Zhijia Information Technology Co., Ltd. with an actual investment of 245.70 million CNY, holding a 58.23% equity stake[178]. Research and Development - The company has a total of 18 utility model patents and 1 invention patent, with 44 new product projects initiated during the reporting period[31]. - The company’s R&D expenditure increased by 28.20% to ¥26.09 million, reflecting a commitment to innovation and product development[47]. - The company completed 44 new product projects and designed 254 sets of new product molds in the steel wheel sector during the reporting period[42]. Market Expansion and Strategy - The company has established a dual business model focusing on steel wheel production and smart connected vehicle data services, enhancing its core competitiveness[30]. - The company’s products are exported to over 40 countries and regions, including Europe, North America, and Asia, reflecting its international market expansion efforts[30]. - The company is focusing on expanding its market presence through participation in overseas exhibitions and actively seeking new customers[40]. - The company signed a strategic framework agreement with Beiqi Foton in March 2017 to enhance strategic cooperation[40]. Corporate Governance and Compliance - The company plans to improve its corporate governance and operational structure to mitigate risks associated with business integration[79]. - The company has committed to not engage in significant asset restructuring for six months following the termination of the current major asset restructuring, which was completed on September 30, 2016[84]. - The half-year financial report has not been audited[88]. - The company did not engage in any related party transactions during the reporting period[95]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 33,125[122]. - Wang Zhicheng holds 33.84% of the shares, totaling 173,848,000 shares, with 58,600,000 shares pledged[122]. - The largest shareholder, Wang Zhicheng, has no changes in shareholding during the reporting period[122]. Risks and Challenges - The company faces risks from raw material price fluctuations, particularly steel, which significantly impacts production costs and overall performance[77]. - The company is actively enhancing its talent acquisition and training strategies to address the increasing demand for skilled professionals due to business expansion[78].