Financial Performance - The company's revenue for Q1 2022 was ¥1,266,145,601.99, a decrease of 6.53% compared to ¥1,354,584,762.87 in the same period last year[3] - Net profit attributable to shareholders was ¥94,349,524.34, down 44.67% from ¥170,511,276.06 year-on-year[3] - Total operating revenue for the first quarter was CNY 1,266,145,601.99, a decrease of 6.5% compared to CNY 1,354,584,762.87 in the previous year[32] - Net profit for the period was CNY 96,608,155.60, down 43.8% from CNY 171,684,147.11 in the same period last year[35] - Earnings per share (EPS) decreased to CNY 0.07 from CNY 0.13, indicating a decline of 46.2%[35] - The company reported a total comprehensive income of CNY 96,608,155.60, down from CNY 171,684,147.11 year-over-year[35] Cash Flow - The net cash flow from operating activities decreased by 18.16% to ¥208,850,621.19 from ¥255,202,182.10 in the previous year[3] - Cash inflow from operating activities totaled ¥1,171,629,496.66, down 23.9% from ¥1,542,460,612.70 in the previous period[39] - Cash outflow from operating activities was ¥962,778,875.47, a decrease of 25.3% compared to ¥1,287,258,430.60 in the previous period[39] - The net cash flow from investing activities was -¥173,032,500, compared to -¥64,533,800 in the previous year, mainly due to cash payments for acquisitions[10] - The net cash flow from investing activities is -¥173,032,532.13, compared to -¥64,533,756.01 in the previous period, indicating increased investment outflows[42] - Cash inflow from financing activities amounted to ¥830,191,356.09, an increase of 31.7% from ¥630,000,000.00 in the previous period[42] - The cash and cash equivalents at the end of the period are ¥474,651,153.89, down 47.8% from ¥907,490,986.96 at the end of the previous period[42] Assets and Liabilities - The company's total assets increased by 0.87% to ¥10,089,577,168.25 compared to ¥10,002,630,392.00 at the end of the previous year[3] - The company's total liabilities amounted to CNY 4,683,455,305.50, slightly up from CNY 4,658,151,517.22[28] - Total equity attributable to shareholders of the parent company increased to CNY 5,393,984,396.08 from CNY 5,312,616,445.25, reflecting a growth of 1.5%[28] - Cash and cash equivalents decreased to RMB 723.95 million from RMB 808.79 million[21] - Accounts receivable decreased to RMB 1,403.30 million from RMB 1,549.49 million[21] - Inventory slightly decreased to RMB 924.39 million from RMB 932.87 million[24] - Short-term borrowings decreased to RMB 1,677.32 million from RMB 1,756.19 million[24] - The company’s long-term equity investments decreased to RMB 532.98 million from RMB 552.88 million[24] Investments and Acquisitions - The company reported a significant increase in prepayments, up 292.13%, mainly due to increased advance payments for goods and equipment[7] - Investment income for the period was ¥14,087,700, a turnaround from a loss of ¥13,859,000 in the same period last year, primarily due to the sale of a stake in a subsidiary[7] - The company acquired 51% of Zhejiang Wanjun Energy Technology Co., Ltd. for RMB 110 million, making it a subsidiary[17] - The company increased its stake in Shandong Mengwo Transmission Co., Ltd. to 100% by acquiring an additional 33.88% for RMB 40.2971 million[20] Government Support and Subsidies - The company received government subsidies amounting to ¥30,234,040.30 during the reporting period[6] Research and Development - Research and development expenses for the quarter were CNY 83,481,491.66, a decrease from CNY 86,447,046.79 in the previous year[32] Deferred Income - Deferred income increased to CNY 246,970,037.38 from CNY 178,005,037.43, showing a significant rise of 38.5%[28]

Financial Performance - The company's operating revenue for 2021 was ¥5,475,006,450.50, a decrease of 9.73% compared to ¥6,064,883,536.23 in 2020[28]. - The net profit attributable to shareholders for 2021 was -¥747,477,238.38, representing a decline of 221.09% from ¥617,283,605.32 in 2020[28]. - The net cash flow from operating activities was ¥144,228,646.17, down 83.68% from ¥883,573,771.11 in the previous year[28]. - The total assets at the end of 2021 were ¥10,002,630,392.00, a decrease of 13.63% from ¥11,580,861,176.59 at the end of 2020[28]. - The net assets attributable to shareholders decreased by 20.12% to ¥5,312,616,445.25 from ¥6,650,763,683.63 in 2020[28]. - The basic earnings per share for 2021 was -¥0.57, a decline of 221.28% compared to ¥0.47 in 2020[28]. - The weighted average return on net assets was -12.60%, down 22.25% from 9.65% in the previous year[28]. - The company reported a net profit attributable to shareholders of CNY -74,747.72 million, marking its first loss since its listing in 2010, impacted by goodwill impairment of CNY 94,445.07 million[77]. - The gross profit margin for automotive parts manufacturing was 16.56%, a decrease of 2.60% from the previous year[90]. Market Trends and Challenges - The automotive market in China saw a production and sales increase of 3.4% and 3.8% respectively in 2021, with total production reaching 26.08 million vehicles[44]. - The sales of new energy vehicles in China surged by 159.5% in 2021, with production reaching 3.55 million units[44]. - The commercial vehicle market faced challenges in 2021, but long-term growth is expected due to increased infrastructure investment and regulatory compliance[47]. - The government implemented a 20% reduction in subsidies for new energy vehicles compared to 2020, while public transport vehicles received a 10% subsidy reduction[49]. - The introduction of the National VI emission standard for heavy diesel vehicles starting July 1, 2021, aims to enhance energy conservation and reduce emissions in the commercial vehicle sector[51]. - The company faces risks related to market competition, talent acquisition, and fluctuations in raw material prices[7]. Product Development and Innovation - The company focuses on the development and production of automotive transmission and new energy vehicle drive systems, including manual and automatic transmissions, hybrid systems, and electric drive systems[53]. - The company has invested in R&D to develop new technologies and products that align with industry trends, enhancing its competitive edge[53]. - The company is advancing the mass production of the pure electric vehicle ECVT drive system project, aimed at enhancing market competitiveness in the electric vehicle sector[111]. - The DHT dual-motor hybrid system project has completed prototype vehicle verification and is also moving towards mass production[111]. - The company is developing a series of AMT automatic transmission products for heavy trucks, currently undergoing road testing verification[111]. - The company has increased its focus on developing EV reducers and related products, aiming to enhance market presence and sales in the future[64]. Sales and Distribution - The company has established strong partnerships with major domestic automotive manufacturers, ensuring a stable supply chain and market presence[57]. - The company has implemented a comprehensive sales and service system to enhance customer relationships and market management[58]. - The sales volume of automotive transmissions decreased by 15.35% year-on-year to 1,334,018 units, while EV reducer sales dropped by 58.23% to 1,853 units[61]. - The domestic sales in the reporting period were 1,335,871 units, reflecting a decrease of 15.47% compared to the previous year[64]. - The total sales amount from the top five customers reached RMB 3,863,806,114.51, accounting for 70.57% of the annual total sales[103]. Research and Development - Research and development (R&D) expenses amounted to RMB 349,803,876.98, reflecting a year-on-year increase of 6.35%[107]. - The number of R&D personnel increased by 10.98% to 465 in 2021 compared to 419 in 2020[110]. - Total R&D investment reached RMB 376,858,389.84, which is 6.88% of operating revenue, up from 5.96% in the previous year[114]. - The capitalized R&D investment decreased by 16.54% to RMB 27,054,512.86, with the capitalization rate dropping to 7.18%[114]. Strategic Initiatives - The company aims to become a world-class automotive parts supplier, focusing on customer-centric values and enhancing core competitiveness[151]. - The company is actively exploring new business areas to create additional revenue and profit growth points[89]. - The company is committed to increasing sales of cast products in the engineering machinery, gearbox, machine tool, and agricultural machinery sectors, aiming for significant growth over 2021 levels[162]. - The company is enhancing its strategic product portfolio to align with the trends of energy efficiency, electrification, and intelligence in automotive powertrains, focusing on improving R&D capabilities, particularly in electronic control software and hardware development[163]. Governance and Compliance - The company has established a robust governance structure, ensuring compliance with relevant laws and regulations, which supports sustainable growth[184][186]. - The company emphasizes transparency in information disclosure, ensuring all stakeholders have equal access to relevant information[193]. - The company maintains independence from its controlling shareholder, ensuring no conflicts of interest affect its operations[194]. - The company has established a clear asset ownership structure, with independent production and operational facilities[197]. Future Outlook - Future outlook indicates a strong commitment to expanding market presence and enhancing product offerings, with specific growth targets set for the upcoming fiscal year[179]. - The company plans to enhance product quality and performance to meet world-class standards, while also improving operational efficiency through a comprehensive management system[159]. - The company is considering strategic mergers and acquisitions to enhance its market position and operational capabilities[179].

证券代码：002434 证券简称：万里扬 公告编号：2022- 026 浙江万里扬股份有限公司 关于举办投资者接待日活动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 浙江万里扬股份有限公司（以下简称"公司"）已于2022年4月20日公布2021 年年度报告，为便于广大投资者深入全面地了解公司情况，公司将在2021年度股 东大会召开期间举办投资者接待日活动，现将有关事项公告如下： 1、接待时间：2022年5月10日（星期二）下午15:00-16:30 2、接待地点：浙江省金华市宾虹西路3999号公司办公楼二楼会议室（届时 会有人员指引） 3、公司参与人员：董事长黄河清先生、财务总监胡春荣先生、董事会秘书 张雷刚先生（如有特殊情况，参与人员会根据实际情况调整）。 4、登记预约方式：请有意向参与此次活动的投资者于2022年4月29日9： 30-16：30与公司董事会办公室工作人员联系，提前预约登记，并同时提供问题 提纲，以便接待登记和安排。 联系人：肖典 联系电话：0579-82216776 传真：0579-82212758 5、来访证件：来访个人投资者请 ...

Revenue and Profit - Revenue for Q3 2021 was ¥1,558,577,388.13, a decrease of 1.77% compared to the same period last year[3] - Net profit attributable to shareholders was ¥199,425,746.05, down 13.72% year-on-year[3] - Net profit excluding non-recurring gains and losses was ¥138,918,004.13, a decrease of 11.15% compared to the previous year[3] - Total operating revenue for the current period reached ¥4,330,134,629.37, an increase from ¥4,138,341,924.66 in the previous period, representing a growth of approximately 4.63%[24] - Net profit for the current period was ¥510,045,565.69, slightly up from ¥506,711,261.78 in the previous period, indicating a growth of approximately 0.66%[27] - The company's basic earnings per share for the period was ¥0.15, a decrease of 16.67% year-on-year[3] - Earnings per share (EPS) remained stable at ¥0.39 for both the current and previous periods[30] Cash Flow - Cash flow from operating activities for the year-to-date was ¥401,826,719.16, down 32.60% year-on-year[3] - Cash flow from operating activities totaled ¥4,115,516,124.01, down from ¥4,397,048,981.90, a decrease of about 6.41%[31] - The net cash flow from operating activities was $401,826,719.16, a decrease of 32.6% compared to $596,146,952.92 in the previous period[34] - Cash outflows from operating activities totaled $3,713,689,404.85, down from $3,800,902,028.98, indicating a reduction of 2.3%[34] - The net increase in cash and cash equivalents was -$297,667,125.85, compared to -$108,974,801.37 in the previous period[37] - The ending balance of cash and cash equivalents was $293,780,376.13, up from $220,136,953.00, reflecting a growth of 33.3%[37] Assets and Liabilities - Total assets at the end of the period were ¥11,222,133,706.65, a decrease of 3.10% from the end of the previous year[3] - Current assets totaled CNY 4,882,047,201.93, down from CNY 5,143,307,161.87 at the end of December 2020[17] - Total liabilities amounted to CNY 4,614,412,557.24, a decrease from CNY 4,892,515,592.87[20] - Owner's equity remained stable at CNY 1,340,000,000.00[20] - Total equity attributable to shareholders of the parent company decreased to ¥6,570,596,509.29 from ¥6,650,763,683.63, a decline of about 1.20%[23] - The total liabilities and equity amounted to ¥11,222,133,706.65, down from ¥11,580,861,176.59, indicating a decrease of approximately 3.10%[23] Investments and Income - Investment income decreased by 140.44% year-on-year, primarily due to losses from associated companies[9] - Investment income showed a loss of ¥12,284,756.09 compared to a smaller loss of ¥5,109,227.35 in the previous period[24] - The company reported a total of $4,975,000.00 in cash received from investment income, significantly higher than $1,650,000.00 in the previous period[34] Shareholder Information - The company has a total of 10 major shareholders, with the largest being Wanliyang Group Co., Ltd., holding 384,075,744 shares[13] Other Financial Metrics - Cash outflows from financing activities increased to $2,238,599,595.81, up from $1,783,554,602.65, representing a rise of 25.5%[34] - The company distributed dividends of ¥590 million, significantly increasing compared to the previous year[9] - Research and development expenses increased to ¥245,106,424.32 from ¥216,471,769.10, marking a rise of approximately 13.25%[24] - The company reported a significant increase in other receivables, which rose to CNY 561,332,704.76 from CNY 335,182,155.59[17] Audit and Reporting - The third-quarter report was not audited, indicating that the financial results are preliminary and subject to change[39]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥2,771,557,241.24, representing an increase of 8.62% compared to ¥2,551,698,231.76 in the same period last year[27]. - The net profit attributable to shareholders of the listed company was ¥311,077,079.61, up 11.84% from ¥278,155,964.35 in the previous year[27]. - The net profit after deducting non-recurring gains and losses was ¥253,545,842.83, reflecting a growth of 10.92% compared to ¥228,589,432.91 in the same period last year[27]. - The net cash flow from operating activities decreased by 32.53%, amounting to ¥246,605,329.05, down from ¥365,483,165.27 in the previous year[27]. - The total assets at the end of the reporting period were ¥10,940,739,469.66, a decrease of 5.53% from ¥11,580,861,176.59 at the end of the previous year[27]. - The net assets attributable to shareholders of the listed company were ¥6,371,170,763.24, down 4.20% from ¥6,650,763,683.63 at the end of the previous year[27]. - The basic earnings per share for the reporting period was ¥0.24, an increase of 14.29% from ¥0.21 in the same period last year[27]. - The diluted earnings per share also stood at ¥0.24, reflecting the same growth of 14.29% compared to the previous year[27]. - The weighted average return on net assets was 4.64%, slightly up from 4.41% in the previous year[27]. Market and Product Development - The production and sales of new energy vehicles in China saw significant growth, with production and sales reaching 1.215 million and 1.206 million units, respectively, representing year-on-year increases of 200.6% and 201.5%[38]. - The penetration rate of new energy vehicles increased from 5.4% at the beginning of the year to 9.4% by mid-year[41]. - The company is focusing on the development of hybrid systems and pure electric vehicle drive systems, with a strong competitive advantage in fuel efficiency and performance[45]. - The company plans to enhance its market share in the light-duty truck segment by leveraging the advantages of its G-series high-end light-duty transmission[46]. - The company is actively developing new products, including the DHT hybrid system, which is currently undergoing testing with multiple clients[45]. - The sales of commercial vehicle transmissions, particularly the G-series, continue to grow, contributing to the overall revenue increase[42]. - The company aims to increase the automation and digitalization of its manufacturing processes to improve production efficiency and product quality[42]. - The company has an annual production capacity of 1.1 million commercial vehicle transmissions and 1.8 million passenger vehicle transmissions, meeting diverse customer needs across various vehicle types[49]. - The company has developed China's first light truck AMT automatic transmission, marking a significant breakthrough in the light truck automatic transmission sector[53]. - The company has established a complete CVT R&D and production capability, with new generation CVT products showing significant improvements in structure design, control, transmission efficiency, fuel consumption reduction, and reliability[53]. - The company is accelerating the development of new products such as EV reducers and hybrid drive systems to meet the growing demand in the new energy vehicle market[89]. Research and Development - Research and development investment increased by 38.71% to CNY 159,305,104.59, focusing on new technologies and products such as the "three-in-one" electric drive system[61]. - The company has developed a DHT hybrid system that has entered the prototype testing phase, enhancing its competitiveness in the hybrid vehicle market[53]. - The company has a strong focus on technology upgrades and process optimization, continuously improving product quality and production efficiency[56]. - The company actively collaborates with top universities and research institutions, participating in multiple national key new product development projects[50]. Financial Management and Investments - The company has implemented a rigorous cost management system, achieving cost control through in-house production of key components and scale procurement advantages[56]. - The company has established a mutual aid fund for employees, providing financial assistance to those in need, thereby stabilizing the workforce[122]. - The total investment amount for the reporting period was ¥112 million, a decrease of 84.34% compared to ¥715 million in the same period last year[75]. - The company established Zhejiang Waliyang Intelligent Technology Co., Ltd. with an investment of ¥10 million, holding 100% equity, focusing on automotive parts and industrial automation[75]. - The company also established Chengde Wanxin New Material Technology Co., Ltd. with an investment of ¥102 million, holding 51% equity, focusing on new material technology promotion services[75]. Corporate Governance and Compliance - The company has not reported any non-compliance issues regarding external guarantees or significant litigation during the reporting period[126][128][134]. - The company has not undergone any bankruptcy restructuring or significant changes in its accounting firm during the reporting period[129][130]. - The company maintains a good credit status and has no significant overdue debts[135]. - The company has not provided any guarantees that violate regulatory procedures[160]. - The company has no significant changes in shareholder structure or major shareholder events during the reporting period[164]. Social Responsibility and Environmental Initiatives - The company actively engages in social responsibility initiatives, including support for poverty alleviation and environmental protection efforts[112]. - The company reported a total emission of 71.93 tons of hazardous waste, well below the approved total of 270 tons, with no instances of exceeding emission standards[106]. - The company donated 1.15 million yuan during the pandemic to support social responsibility initiatives and has engaged in various community support activities[122]. - The company adheres to ISO14001 environmental management standards and has implemented modern production equipment to enhance energy efficiency and reduce emissions[121]. Employee and Stakeholder Engagement - The company has implemented a comprehensive employee care program, including a robust compensation system and various training initiatives to promote employee growth[117]. - The procurement team has established an electronic procurement platform to enhance communication with suppliers and improve quality management[118]. - The company emphasizes a service philosophy of "fast, professional, and attentive," providing comprehensive support to clients and enhancing strategic partnerships[114]. - The company has received multiple annual quality improvement awards from major clients, reflecting high customer satisfaction and recognition[114]. Related Party Transactions - The company engaged in a related transaction with Chery Automobile, involving sales of automotive parts and services amounting to 799.904 million RMB, accounting for 28.86% of similar transactions[136]. - A financing lease agreement was signed with a related party, with a total lease price of 60 million RMB and an annual interest rate of 8% over a 60-month term[147]. - The company has provided guarantees totaling 94 million RMB, with actual guarantees during the reporting period amounting to 39.51 million RMB[154]. - The total guarantee amount provided by the company to its subsidiaries is 168,000, with an actual occurrence amount of 13,503.09[157]. - The total guarantee amount for the company exceeds 50% of its net assets, with a total of 72,510.23 reported[160].

证券代码：002434 证券简称：万里扬 公告编号：2021-027 浙江万里扬股份有限公司 关于投资者接待日活动召开情况的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 浙江万里扬股份有限公司（以下简称"公司"）投资者接待日活动于2021 年5月10日下午15:00-16:30在公司会议室以现场方式召开。公司董事会秘书张雷 刚先生、战略中心主任徐万洪先生出席了本次活动，就公司经营情况等问题与投 资者进行了沟通和交流，具体情况如下： 一、公司商用车变速器业务发展情况？ 答：目前，公司商用车变速器业务主要为轻微型商用车手动变速器产品，配 套客户主要为福田汽车、中国重汽、东风汽车、中国一汽、江铃汽车、庆铃汽车、 江淮汽车、现代汽车等汽车厂。 面向国六排放标准要求，公司重点推广 G 系列高端轻微型变速器产品，该产 品具备高效、轻便、可靠和轻量化等优点，已成为国内主流汽车厂国六车型标配 变速器产品，得到了汽车厂客户的广泛认可。未来发展中，公司将继续提高 G 系列高端变速器的市场份额，积极推动中重卡变速器、皮卡变速器等产品开发、 试验和量产工作。同时，大力发展商用 ...

Financial Performance - The company's operating revenue for Q1 2021 was ¥1,354,584,762.87, representing a 25.05% increase compared to ¥1,083,224,805.14 in the same period last year [11] - Net profit attributable to shareholders was ¥170,511,276.06, up 40.60% from ¥121,275,578.23 year-on-year [11] - The net profit after deducting non-recurring gains and losses reached ¥151,685,840.91, marking a 61.53% increase from ¥93,906,691.21 in the previous year [11] - The basic earnings per share increased to ¥0.13, a rise of 44.44% compared to ¥0.09 in the same period last year [11] - The company's operating revenue increased by 25.05% year-on-year, while net profit attributable to the parent company rose by 40.60%, driven by significant sales growth in commercial vehicle G-series high-end gearboxes and passenger vehicle CVT automatic gearboxes [24] Assets and Liabilities - The company's total assets at the end of the reporting period were ¥11,600,711,550.82, a slight increase of 0.17% from ¥11,580,861,176.59 at the end of the previous year [11] - The net assets attributable to shareholders increased to ¥6,821,274,959.69, reflecting a growth of 2.56% from ¥6,650,763,683.63 at the end of the previous year [11] - The total liabilities decreased to ¥3,485,638,787.32 from ¥2,705,350,230.31, indicating a reduction in financial obligations [55] - The total equity attributable to shareholders increased to ¥6,154,806,981.61, compared to ¥6,143,367,123.92 in the previous period [55] - The total non-current liabilities remained stable at ¥16,620,100.59 compared to ¥16,976,140.59, reflecting consistent long-term financial planning [55] Cash Flow - The net cash flow from operating activities was ¥255,202,182.10, down 37.85% from ¥410,607,354.55 in the same period last year [11] - The net cash flow from operating activities was 255.20 million yuan, down from 410.61 million yuan in the same period last year, primarily due to increased cash outflows for purchasing goods [24] - The net cash flow from financing activities was 125.38 million yuan, a significant improvement from a net outflow of 370.43 million yuan in the same period last year [24] - Cash inflow from operating activities reached CNY 1,542,460,612.70, an increase from CNY 1,390,928,321.38 in the previous period [77] - Cash inflow from financing activities totaled CNY 630,000,000.00, compared to CNY 830,000,000.00 in the previous period [79] Investments and Expenses - Research and development expenses grew by 65.72% compared to the same period last year, reflecting increased investment in new technologies and products, particularly in strategic new products like heavy-duty AMT automatic transmissions and DHT hybrid systems [23] - The company's investment income decreased by 784.35% year-on-year, attributed to increased bill discounting costs and losses from equity investments [23] - The company's development expenditures at the end of the period increased by 62.49% compared to the beginning of the period, reflecting a rise in capitalized R&D project expenditures [23] - The company reported a significant increase in financial expenses, totaling CNY 12,919,521.60, up from CNY 11,807,684.10 in the previous period [61] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 28,960 [14] - The largest shareholder, Wanliyang Group Co., Ltd., held 28.66% of the shares, with 384,075,744 shares pledged [14] Other Financial Metrics - The company's retained earnings increased to ¥2,359,659,315.43, up from ¥2,189,148,039.37, showing growth in profitability [48] - The inventory level was reported at ¥211,866,597.32, an increase from ¥201,315,073.42, indicating potential growth in sales [49] - The company received government subsidies amounting to ¥22,507,178.84 during the reporting period [11] - The company received CNY 54,797,346.75 in tax refunds, a substantial increase from CNY 219,982.40 in the previous period [73] Audit and Compliance - The first quarter report was not audited [87] - The company has not applied the new leasing standards for retrospective adjustments [87]

Financial Performance - The company's operating revenue for 2020 was ¥6,064,883,536.23, representing an increase of 18.92% compared to ¥5,099,834,596.40 in 2019[25]. - The net profit attributable to shareholders for 2020 was ¥617,283,605.32, a growth of 54.19% from ¥400,330,892.65 in 2019[25]. - The net profit after deducting non-recurring gains and losses was ¥447,693,922.82, which is a significant increase of 145.15% compared to ¥182,618,674.70 in 2019[25]. - The basic earnings per share for 2020 was ¥0.47, up 56.67% from ¥0.30 in 2019[25]. - The total assets at the end of 2020 were ¥11,580,861,176.59, reflecting a 6.23% increase from ¥10,901,727,096.08 at the end of 2019[25]. - The net cash flow from operating activities was ¥883,573,771.11, an increase of 12.59% from ¥784,753,025.86 in 2019[25]. - The weighted average return on equity for 2020 was 9.65%, up from 6.62% in 2019, indicating improved profitability[25]. Sales and Market Performance - In 2020, the company's total sales of automotive transmissions reached 1.541 million units, representing a year-on-year growth of 16.28%[41]. - The sales of commercial vehicle transmissions were 753,000 units, an increase of 9.92% year-on-year[41]. - The sales of passenger vehicle transmissions were 786,000 units, showing a significant growth of 26.34% year-on-year[41]. - The company's commercial vehicle transmission sales increased by 9.92% year-on-year, with the G series high-end lightweight transmission sales growing by 67.51%, accounting for 42% of total sales[44]. - The passenger vehicle transmission segment contributed 63.36% to total revenue, amounting to approximately 3.84 billion yuan, reflecting a 39.63% increase year-on-year[96]. - The total sales revenue for the top five customers amounted to ¥4,383,250,973.37, accounting for 72.27% of the annual total sales[113]. Research and Development - The company established a research and development headquarters in Hangzhou to enhance innovation and technology upgrades[79]. - Research and development expenses increased by 21.49% to ¥328,917,946.55, reflecting the company's commitment to enhancing core competitiveness through new technology and product development[117]. - The number of R&D personnel increased by 10.97% to 698, indicating a focus on enhancing research capabilities[123]. - The company is actively developing new energy vehicle drive systems, with a target to have 50% of domestic car sales from new energy vehicles by 2035[119]. - The company has established multiple project teams to enhance new product R&D capabilities, focusing on strategic new products such as passenger car ECVT/DHT and commercial vehicle hybrid systems in 2021[173]. Strategic Partnerships and Collaborations - The company is collaborating with Bosch on continuously variable transmission technology for electric and hybrid vehicles, enhancing its capabilities in the new energy vehicle sector[53]. - The company has established a strategic partnership with Bosch to promote the application of ECVT in new energy electric vehicles[64]. - The company signed a strategic cooperation agreement with Bosch on January 15, 2020, to collaborate on continuously variable transmission technology for electric and hybrid vehicles[81]. Investment and Acquisitions - The company has invested RMB 20 million to establish Zhejiang Waliyang Precision Manufacturing Co., Ltd., holding 100% equity[57]. - The company acquired 100% equity of Liaoning Yixing Automotive Parts Co., Ltd. for RMB 23.387 million[57]. - The company has made strategic acquisitions to enhance its investment channels and improve operational capabilities, including the acquisition of Zhejiang Wanliyang Precision Manufacturing Co., Ltd.[154]. Market Trends and Future Outlook - The automotive market in China is expected to continue growing, driven by increasing demand and a low vehicle ownership rate compared to developed countries[43]. - By 2025, it is projected that new energy vehicles will account for approximately 20% of total vehicle sales in China, increasing to 40% by 2030 and over 50% by 2035[49]. - The overall automotive market in China is expected to recover in 2021, with sales projected to exceed 26 million units, representing a year-on-year growth of 4%[54]. - The company anticipates steady growth in the domestic automotive market in 2021, driven by favorable national policies and a recovering economy[167]. Risks and Challenges - There are risks related to market competition, talent acquisition, and fluctuations in the supply and prices of key raw materials and components[8]. - The company faces market competition risks due to the ongoing decline in vehicle sales since 2018, exacerbated by the COVID-19 pandemic, which has intensified competition in the automotive industry[176]. - The company is addressing risks related to raw material supply and price fluctuations, particularly for key components sourced from foreign suppliers, which could impact operations[182]. Operational Efficiency and Cost Management - The company focused on enhancing its operational efficiency and cost management, leading to improved overall profitability[77]. - The company has implemented market-oriented reforms in its parts manufacturing factories to enhance operational efficiency and profitability[85]. - The company has improved raw material utilization and reduced consumption through continuous product design and production technology enhancements[183]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of ¥4.5 per 10 shares, totaling approximately ¥59,187,000 based on the total share capital[8]. - The cash dividend distribution plan reflects the company's mature development stage and commitment to returning profits to shareholders[197]. - The total share capital for the cash dividend distribution is 1,312,600,000 shares, excluding 27.4 million shares held in the stock repurchase account[197].

证券代码：002434 证券简称：万里扬 公告编号：2021- 019 浙江万里扬股份有限公司 关于举办投资者接待日活动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 浙江万里扬股份有限公司（以下简称"公司"）已于2021年4月20日公布2020 年年度报告，为便于广大投资者深入全面地了解公司情况，公司将在2020年度股 东大会召开期间举办投资者接待日活动，现将有关事项公告如下： 1、接待时间：2021年5月10日（星期一）下午15:00-16:30 2、接待地点：浙江省金华市宾虹西路3999号公司办公楼二楼会议室（届时 会有人员指引） 3、公司参与人员：董事长黄河清先生、财务总监胡春荣先生、董事会秘书 张雷刚先生（如有特殊情况，参与人员会根据实际情况调整）。 4、登记预约方式：请有意向参与此次活动的投资者于2021年4月30日9： 30-16：30与公司董事会办公室工作人员联系，提前预约登记，并同时提供问题 提纲，以便接待登记和安排。 联系人：张雷刚 联系电话：0579-82216776 传真：0579-82212758 5、来访证件：来访个人投资者 ...

Financial Performance - Operating revenue for the period was ¥1,586,643,692.90, representing a year-on-year increase of 31.45%[10] - Net profit attributable to shareholders was ¥231,145,275.37, a significant increase of 98.98% year-on-year[10] - The net profit after deducting non-recurring gains and losses was ¥156,344,752.62, up 64.54% compared to the same period last year[10] - The basic earnings per share for the period was ¥0.18, reflecting a 100% increase compared to the previous year[10] - The company's revenue increased by 25.77% year-on-year, while net profit attributable to the parent company grew by 46.30%[28] - The net profit attributable to the parent company was ¥231,145,275.37, up 99.5% from ¥116,166,128.14 year-over-year[72] - The net profit for the current period was ¥232,548,329.32, a substantial increase from ¥113,175,524.96 in the same period last year[71] - Net profit for the current period was ¥506,711,261.78, representing a 48.2% increase from ¥342,186,453.38 in the previous period[82] - The company achieved an operating profit of ¥580,456,402.11, up 48.4% from ¥391,312,308.81 in the prior period[82] - The total profit for the current period was ¥266,284,945.42, compared to ¥122,847,300.85 in the previous period, reflecting strong overall performance[69] Cash Flow - Cash flow from operating activities was ¥230,663,787.65, showing a substantial increase of 339.40% year-on-year[10] - Cash inflow from operating activities totaled approximately ¥4.40 billion, up from ¥3.33 billion year-over-year, reflecting a growth of about 32%[97] - The net cash flow from operating activities was ¥596.15 million, down from ¥827.97 million in the previous period, showing a decline of approximately 28%[97] - Cash inflow from financing activities was approximately ¥1.79 billion, up from ¥861 million, representing a growth of about 108%[100] - The net cash flow from financing activities was ¥5.45 million, a recovery from a negative cash flow of ¥908.22 million in the previous period[100] - The company reported cash outflow from investing activities of approximately ¥723.47 million, compared to ¥350.16 million in the previous period, indicating increased investment activity[100] - The company reported a net cash flow from investment activities of approximately -¥710.57 million, worsening from -¥138.77 million in the previous period, highlighting challenges in investment returns[100] Assets and Liabilities - Total assets at the end of the reporting period reached ¥11,738,653,043.69, an increase of 7.68% compared to the end of the previous year[10] - The total liabilities increased to CNY 5,155,855,448.05 from CNY 4,666,601,571.12, reflecting a growth of approximately 10.5%[56] - The company's total equity reached CNY 6,582,797,595.64, compared to CNY 6,235,125,524.96, which is an increase of about 5.6%[55] - The total assets as of September 30, 2020, amounted to CNY 9,769,305,821.90, compared to CNY 9,464,599,497.14 at the end of 2019, indicating an increase of about 3.2%[60] - The total liabilities to equity ratio as of September 30, 2020, was approximately 78.2%, compared to 74.8% at the end of 2019, indicating a slight increase in leverage[56] Research and Development - Research and development expenses rose by 39.05% year-on-year, reflecting increased investment in new technologies and product upgrades[6] - Research and development expenses increased significantly to ¥101,622,698.55, compared to ¥36,129,875.47 in the previous period, reflecting a focus on innovation[69] - Research and development expenses rose to ¥216,471,769.10, up 39.0% from ¥155,679,310.18 in the previous period[80] Inventory and Receivables - The company's inventory increased by 30.98% compared to the beginning of the period, driven by production adjustments to meet market demand[26] - The accounts receivable increased to approximately 1.83 billion yuan, compared to 1.45 billion yuan at the end of 2019[47] - The accounts receivable stood at CNY 985,200,383.66, slightly down from CNY 989,483,811.64, indicating a decrease of about 0.3%[57] - The inventory decreased significantly to CNY 166,044,107.01 from CNY 344,970,339.11, representing a decline of approximately 51.9%[57] Management and Operational Efficiency - The company's management expenses decreased by 38.58% compared to the same period last year, primarily due to improved operational efficiency and the divestment of a subsidiary[6] - Financial expenses decreased by 80.77% year-on-year, attributed to the repayment of a corporate bond and lower bank borrowing rates[6] - The financial expenses decreased to ¥15,272,738.72 from ¥18,227,473.06, indicating improved cost management[69] Market and Sales Performance - The sales volume of commercial vehicle gearboxes increased by 13.83% year-on-year, with high-end G series gearboxes seeing a remarkable growth of 98.05%[28] - The sales volume of passenger vehicle gearboxes grew by 47.40%, with CVT (continuously variable transmission) sales surging by 137.57%[28] - The company achieved sales revenue of approximately ¥3.87 billion from goods and services, compared to ¥3.01 billion in the previous period, marking an increase of about 29%[97] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[80]