股票代码：002454 公司简称：松芝股份 公告号： 2023-028 上海加冷松芝汽车空调股份有限公司 关于参加 2023 年上海辖区上市公司年报 集体业绩说明会的公告 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。 为进一步加强与广大投资者的沟通交流，上海加冷松芝汽车空调股份有限公司 （以下简称"公司"）将参加"2023 年上海辖区上市公司年报集体业绩说明会"活动， 现将有关事项公告如下： 本次业绩说明会活动将采取网络的方式举行，投资者可以登录"上证路演中心" 网站（http://roadshow.sseinfo.com）或关注微信公众号上证路演中心参与活动，活动 时间为 2023 年 5 月 10 日（周三）15:00 至 17:00。 届时公司的副董事长、总裁纪安康先生，副总裁、董事会秘书兼财务总监陈睿先 生，独立董事陶克先生将通过网络在线交流形式与投资者就公司治理、发展战略、经 营状况、融资计划、股权激励和可持续发展等投资者关注的问题进行沟通。 欢迎广大投资者积极参与。 特此公告 上海加冷松芝汽车空调股份有限公司 董事会 2023 年 4 月 27 ...

Group 1: Company Overview - Shanghai Jialeng Songzhi Automotive Air Conditioning Co., Ltd. is focused on the automotive air conditioning sector [1] - The company has strengthened its development capabilities, particularly in the complete vehicle system [1] Group 2: Business Performance - The small vehicle air conditioning business has seen significant growth, with new orders exceeding 2.1 billion yuan in the first half of the year [2] - The small vehicle thermal management business is currently in an upward phase [2] Group 3: Industry Position - The domestic market for automotive thermal management is rapidly developing, providing new opportunities for domestic brands [2] - The gap between domestic and foreign manufacturers in the new energy sector is narrowing [2] Group 4: Future Directions - The company is increasing R&D investments, focusing on the development of heat pump air conditioning systems for new energy vehicles [2] - The second-generation heat pump air conditioning system has completed development and road testing, while the third-generation system is progressing well [2]

Group 1: Company Overview and Investor Relations - Shanghai Jialeng Songzhi Automotive Air Conditioning Co., Ltd. held an investor relations event on November 18, 2022, attended by various investment firms [1] - The event included a tour of the energy storage division's assembly line and production workshops [1] Group 2: Energy Storage Products - The company has achieved self-production of key components such as heat exchangers, pipelines, and harnesses for its energy storage battery thermal management products [1] - Future plans include gradually increasing the self-manufacturing rate based on business development [1] Group 3: Market Recovery and Financial Performance - The large and medium-sized bus thermal management business is gradually recovering in the second half of the year, driven by overall industry recovery [2] - Factors influencing market recovery include macroeconomic conditions and local fiscal policies [2] - The decline in gross margin for the large and medium-sized bus business is primarily due to rising raw material prices, which began increasing significantly in the second half of the previous year [2] Group 4: Small Vehicle Division Performance - The small vehicle division experienced revenue and gross margin declines in the first half of the year due to raw material price fluctuations and the pandemic [2] - Recovery in the small vehicle division's revenue was noted in the third quarter as economic conditions improved [2] - The division aims to prepare for mass production of new projects and achieve annual operational goals [2] Group 5: Future Projects - The company has commenced mass production of an air conditioning box project for SAIC General and plans to launch projects for clients such as BYD and NIO [2]

Revenue and Profitability - Revenue for Q3 2022 reached ¥1,149,572,057.70, an increase of 21.32% compared to the same period last year[5] - Net profit attributable to shareholders was ¥23,122,278.48, a significant increase of 299.77% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥12,469,051.83, up 305.82% from the previous year[5] - The basic earnings per share for the period was ¥0.04, representing a 467.85% increase year-on-year[5] - The net profit for Q3 2022 was ¥75,988,266.26, a decrease of 38.5% compared to ¥123,570,002.62 in Q3 2021[18] - The total comprehensive income for the period was ¥77,057,339.33, compared to ¥124,144,272.49 in the same quarter last year, a decrease of approximately 37.9%[18] - The company reported a basic earnings per share of ¥0.09, down from ¥0.15 in Q3 2021, representing a decline of 40%[18] Cash Flow and Liquidity - Cash flow from operating activities showed a net inflow of ¥61,525,212.86, down 81.42% compared to the previous year[5] - The net cash flow from operating activities was ¥61,525,212.86, significantly lower than ¥331,048,096.15 in the same period last year, indicating a decrease of about 81.4%[19] - Cash and cash equivalents decreased to CNY 450,964,793.37 as of September 30, 2022, from CNY 760,949,758.50 at the beginning of the year, showing liquidity challenges[14] - The cash and cash equivalents at the end of the period were ¥336,493,132.64, down from ¥394,214,233.35 at the end of Q3 2021, a decline of about 14.6%[20] Operating Performance - Total operating revenue for Q3 2022 was CNY 2,897,927,700.50, a decrease of 2.04% compared to CNY 2,958,448,100.08 in Q3 2021[17] - Total operating costs for Q3 2022 were CNY 2,842,545,532.12, down from CNY 2,850,609,840.92 in the same period last year, reflecting a cost reduction strategy[17] - Operating profit for Q3 2022 was CNY 88,894,061.21, a decline of 40.19% from CNY 148,597,120.58 in Q3 2021[17] - The company incurred a total operating expense of ¥2,784,761,053.83, which is an increase from ¥2,625,475,203.23 in the previous year, reflecting a rise of approximately 6.1%[19] Assets and Liabilities - Total assets at the end of the reporting period were ¥6,635,932,444.06, a decrease of 4.22% from the end of the previous year[5] - Total assets as of September 30, 2022, were CNY 6,635,932,444.06, down from CNY 6,928,215,646.41 at the beginning of the year, indicating a contraction in the asset base[15] - Total liabilities decreased to CNY 2,480,351,532.51 from CNY 2,824,548,810.18, reflecting a reduction in financial obligations[15] - The company’s total assets decreased to ¥1,500,000,000 from ¥1,600,000,000 in the previous year, indicating a reduction of 6.25%[20] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 56,715[11] Future Outlook - The company plans to continue focusing on market expansion and new product development to drive future growth[16] - The company plans to focus on expanding its market presence and investing in new technologies to enhance operational efficiency in the upcoming quarters[21] Inventory and Investments - The company's inventory increased to CNY 922,191,251.59 as of September 30, 2022, compared to CNY 761,411,214.64 at the beginning of the year, suggesting potential overstocking[14] - The company experienced a 40.74% decrease in cash and cash equivalents at the end of the reporting period, attributed to increased investments and dividend payments[9] - The company received a significant increase of 98.05% in cash inflow from tax refunds compared to the previous year[9] - The cash flow from investment activities showed a net outflow of ¥252,632,381.91, an improvement from a net outflow of ¥607,762,575.43 in the previous year[20]

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 1,748,355,642.80, a decrease of 13.06% compared to CNY 2,010,900,726.98 in the same period last year[20]. - The net profit attributable to shareholders was CNY 33,120,282.86, down 65.09% from CNY 94,863,840.38 year-on-year[20]. - The net profit after deducting non-recurring gains and losses was CNY 13,816,290.22, a decline of 79.56% compared to CNY 67,601,491.60 in the previous year[20]. - The basic earnings per share were CNY 0.05, down 66.67% from CNY 0.15 in the same period last year[20]. - The company reported a net cash flow from operating activities of CNY 109,431,984.89, a decrease of 9.57% from CNY 121,018,787.59 in the previous year[20]. - The operating cost decreased by 11.01% to 1,414,736,273.83 yuan, while research and development investment increased by 8.22% to 103,340,008.67 yuan[65]. - The revenue from large and medium-sized bus thermal management products increased by 10.12% to 437,012,233.46 yuan, while revenue from small vehicle thermal management products decreased by 16.40% to 1,165,068,913.70 yuan[67]. - The company reported a total revenue of 321.27 million for the period, with a net profit of 19.39 million, reflecting a strong performance in the automotive air conditioning sector[81]. - The company reported a total revenue of 996.4 million CNY for the first half of 2022, representing a growth of 4.04% year-over-year[105]. - The total revenue for the first half of 2022 reached CNY 4,795.3 million, showing a significant increase compared to the previous year[118]. Assets and Liabilities - The company's total assets at the end of the reporting period were CNY 6,650,263,275.21, a decrease of 4.01% from CNY 6,928,215,646.41 at the end of the previous year[20]. - Total assets at the end of the reporting period amounted to CNY 6,646,000,000, with cash and cash equivalents at CNY 717,970,057, accounting for 10.80% of total assets[70]. - Accounts receivable increased to CNY 1,040,457,730, representing 15.65% of total assets, up from 14.92% year-on-year[70]. - Inventory levels rose to CNY 870,178,884, which is 13.08% of total assets, an increase of 2.09% compared to the previous year[70]. - The total liabilities decreased from CNY 2,824,548,810.18 to CNY 2,525,430,145.36, a reduction of approximately 10.6%[145]. - The company's equity attributable to shareholders increased from CNY 3,688,620,231.78 to CNY 3,697,799,435.30, reflecting a growth of about 0.2%[145]. Research and Development - The company plans to continue investing in the research and mass production of battery thermal management products for energy storage systems[28]. - The company has over 500 R&D personnel, with core members having more than 10 years of experience in automotive thermal management product development[30]. - The company has established over 500 patents and developed more than 200 corporate technical standards, enhancing its competitive edge in technology[30]. - The company is actively researching new environmentally friendly refrigerants, including R454C, to align with carbon neutrality goals and open up markets in Europe and the US[35]. - The company reported a significant increase in R&D expenses, which rose to CNY 103,340,008.67 from CNY 95,488,477.92, an increase of 8.9%[152]. Market Position and Strategy - The company is a leading enterprise in the field of automotive thermal management products, with a comprehensive product range applied in various vehicle types[28]. - The company has established stable relationships with over 430 long-term customers, including more than 100 major vehicle manufacturers and over 330 terminal customers, enhancing revenue stability[48]. - The company has partnered with over 40 clients in the electric commercial vehicle sector, covering major manufacturers[59]. - The company has established a comprehensive sales and after-sales service network with over 30 sales outlets and more than 440 authorized repair points across China, enhancing customer service capabilities[51]. - The company is focusing on enhancing its technological capabilities and exploring potential mergers and acquisitions to drive growth[165]. Risks and Challenges - The company faces risks related to the pandemic, changes in automotive industry policies, fluctuations in raw material and chip prices, and changes in customer operations and orders[3]. - The company faced risks from rising raw material prices, particularly copper and aluminum, which could negatively impact profitability if product price adjustments are insufficient to offset these costs[84]. - The company is actively managing customer credit risks, implementing measures to monitor and collect receivables from clients facing operational difficulties[85]. Shareholder Information - The total number of shareholders at the end of the reporting period was 83,992, with no preferred shareholders[130]. - The largest shareholder, Chen Fucheng, holds 43.82% of the total shares, amounting to 275,470,809 shares[130]. - A total of 786,900 restricted shares were released during the reporting period, affecting several executives[128]. - The company reported a profit distribution of 6.528 million yuan to shareholders, reflecting a decrease of 50.28% compared to the previous period[178]. Operational Efficiency - The company has completed in-house production of key components such as compressors and electronic control systems, which helps reduce costs and improve product quality[53]. - The company has maintained a high asset scale, with total assets reported at 781.74 million, indicating robust operational capacity[81]. - The company aims to improve operational efficiency and reduce costs through strategic initiatives in the upcoming quarters[168]. Environmental and Regulatory Compliance - The company has installed photovoltaic systems in its existing facilities to reduce carbon emissions and energy consumption[95]. - The company has not faced any significant legal disputes or regulatory penalties during the reporting period, reflecting stable operational governance[103]. - The company’s financial statements are prepared based on the enterprise accounting standards, ensuring a true and complete reflection of the company's financial status and operating results[180].

Financial Performance - The company's operating revenue for 2021 was ¥4,123,694,228.02, representing a 21.86% increase compared to ¥3,383,834,845.84 in 2020[18]. - The net profit attributable to shareholders decreased by 54.41% to ¥112,575,571.29 from ¥246,907,403.91 in the previous year[18]. - The net profit after deducting non-recurring gains and losses was ¥55,320,111.71, down 54.16% from ¥120,681,826.89 in 2020[18]. - Basic earnings per share fell by 53.85% to ¥0.18 from ¥0.39 in the previous year[18]. - The net cash flow from operating activities increased by 15.69% to ¥562,787,266.65 compared to ¥486,472,145.54 in 2020[18]. - The company reported a total cash inflow from operating activities of CNY 4.86 billion, a 17.84% increase from CNY 4.12 billion in the previous year[70]. - The company reported a total revenue of 5,120.74 million in 2021, with a net profit of 2,374.00 million, representing a year-on-year increase of 2.74%[107]. - The revenue from small car thermal management products accounted for 61.26% of total revenue, increasing by 43.82% year-on-year[54]. Assets and Liabilities - Total assets at the end of 2021 were ¥6,928,215,646.41, a 5.80% increase from ¥6,548,453,988.90 at the end of 2020[18]. - The net assets attributable to shareholders increased by 1.43% to ¥3,688,620,231.78 from ¥3,636,699,714.22 in 2020[18]. - The company's fixed assets amounted to ¥1,234,464,370, representing 17.82% of total assets, an increase of 0.34% from the previous year[75]. - The company's contract liabilities decreased to ¥159,658,308.3, accounting for 2.30% of total liabilities, down from 2.45% the previous year[75]. - The company reported a total of 68.98 million CNY in related party transactions, with a maximum approved amount of 115 million CNY, representing 23.40% of the same type of transactions[157]. Production and Sales - The company experienced a significant increase in the sales volume of vehicle battery thermal management systems, with a growth of 233.33% year-on-year in production volume[31]. - The production of small vehicle air conditioning condensers rose by 132.42% year-on-year, reaching 5.19 million units in the reporting period[32]. - The sales revenue for new energy bus air conditioning reached approximately CNY 650.68 million with a production of 23,700 units and sales of 19,300 units[35]. - The large and medium bus thermal management segment delivered over 32,900 units, a decrease of 10% year-on-year, while the battery thermal management systems for large and medium buses and electric heavy trucks saw a significant increase of 181%, with over 5,900 units delivered[49]. - The company delivered over 4,600 units of various cold chain refrigeration units, achieving a year-on-year growth of over 24%, with sales revenue exceeding CNY 88 million, up 15% from the previous year[52]. Research and Development - The company has established a research and development team of over 500 people, focusing on advanced technology and product development in automotive thermal management[36]. - Research and development expenses increased by 23.42% to 253,167,349.98 yuan in 2021 from 205,123,877.67 yuan in 2020[65]. - The company has initiated the development of new products such as the next-generation battery cooling module and heat pump air conditioning systems, collaborating with key clients like NIO and Dongfeng Honda[51]. - The company is actively researching new environmentally friendly refrigerants, including CO2 and R454C, to align with carbon neutrality goals[39]. Governance and Management - The company has developed a comprehensive corporate governance structure and modern management system, enhancing operational efficiency and employee engagement[48]. - The company has established a comprehensive internal control management system that meets operational needs and has effectively executed internal controls without any significant deficiencies[132]. - The company has implemented strict information disclosure practices, ensuring transparency and equal treatment of all investors[95]. - The company has a structured governance system with independent operation of the shareholders' meeting, board of directors, and supervisory board[99]. - The company has a clear organizational structure that supports its operational development needs, ensuring independence from controlling shareholders[99]. Market Expansion and Strategy - The company plans to enhance its market and product strength in the large and medium-sized bus thermal management sector while expanding into battery thermal management for energy storage stations and heavy-duty electric vehicles[85]. - The company is focusing on expanding its market presence in the energy storage thermal management sector, having completed the development of several products in this area[67]. - The company aims to increase its market share through strategic partnerships and potential acquisitions in the automotive sector[107]. - The company has set up over 30 sales outlets and more than 300 sales and after-sales service personnel across major provinces and cities in China, enhancing its market presence[45]. Environmental Responsibility - The company has established an ISO14001 environmental management system, certified in April 2012, to manage environmental risks effectively[144]. - The company has adopted environmentally friendly refrigerants, including R404A, R134A, and R407C, which have an ODP value of 0, ensuring no harm to the ozone layer[141]. - The company has invested in photovoltaic power generation facilities to reduce energy consumption and carbon emissions[145]. - The company has conducted monitoring of waste gas emissions, confirming that they meet the required standards[143].

上海加冷松芝汽车空调股份有限公司 2022 年第一季度报告全文 证券代码：002454 证券简称：松芝股份 公告编号：2022-016 上海加冷松芝汽车空调股份有限公司 2022 年第一季度报告 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。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、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。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声 明：保证季度报告中财务信息的真实、准确、完整。 3.第一季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (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 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 882,631,565.24 | 940,837,294.28 | -6.19% | | 归属于上市公司股东的净利润（元） | 20,169,586.74 ...

Revenue and Profit - The company's revenue for Q3 2021 was ¥947,547,373.10, representing an increase of 11.23% compared to the same period last year[3] - The net profit attributable to shareholders for Q3 2021 was ¥5,783,946.07, a significant decrease of 92.05% year-on-year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥6,058,127.91, down 109.86% compared to the previous year[3] - Total revenue for the third quarter reached CNY 2,958,448,100.08, an increase from CNY 2,321,160,817.20 in the previous period[15] - Net profit for the quarter was CNY 123,570,002.63, down from CNY 152,125,489.51 in the same period last year[16] - The net profit attributable to the parent company for Q3 2021 was ¥100,647,786.45, a decrease of 32.2% compared to ¥148,510,259.36 in the same period last year[17] - The total comprehensive income attributable to the parent company was ¥101,222,056.32, down from ¥149,369,256.46, reflecting a decline of 32.3% year-over-year[17] - Basic and diluted earnings per share for Q3 2021 were both ¥0.16, compared to ¥0.24 in Q3 2020, indicating a 33.3% decrease[17] Assets and Liabilities - The total assets at the end of Q3 2021 amounted to ¥6,905,819,441.02, reflecting a growth of 5.46% from the end of the previous year[3] - The company's total assets increased to CNY 6,905,819,441.02 from CNY 6,548,453,988.90[13] - Current assets totaled CNY 4,869,486,140.93, up from CNY 4,563,767,963.16[12] - The total liabilities rose to CNY 2,797,630,405.68, compared to CNY 2,470,909,560.66 in the previous year[13] - Total liabilities amounted to CNY 2,470,909,560.66, with current liabilities at CNY 2,379,490,519.82[25] - Non-current liabilities totaled CNY 91,419,040.84, with lease liabilities at CNY 20,990,194.22[25] Cash Flow - The cash flow from operating activities for the year-to-date period was ¥331,048,096.15, down 20.71% compared to the previous year[3] - Cash inflow from operating activities for the period was ¥2,956,523,299.38, an increase from ¥1,853,152,884.48 in the previous year[19] - The net cash flow from operating activities was ¥331,048,096.15, down 20.7% from ¥417,514,853.88 in the same period last year[19] - The net cash flow from investing activities was negative at -¥607,762,575.43, compared to -¥66,883,256.39 in the previous year, indicating increased investment outflows[21] - The cash and cash equivalents at the end of the period were ¥394,214,233.35, a decrease from ¥767,575,758.62 at the end of the previous year[21] Equity and Expenses - The company's total equity attributable to shareholders was ¥3,648,922,105.13, a slight increase of 0.34% from the previous year[4] - The total equity attributable to shareholders increased slightly to CNY 3,648,922,105.13 from CNY 3,636,699,714.22[13] - The company’s management expenses increased by 31.56% year-to-date, mainly due to rising personnel costs[8] - Research and development expenses for the quarter were CNY 155,468,403.21, an increase from CNY 126,362,615.11 in the prior year[16] Other Financial Metrics - The company reported a significant increase in cash and cash equivalents compared to the beginning of the year, primarily due to increased investments in financial products[8] - The company experienced a 113.78% increase in trading financial assets compared to the beginning of the year, also due to increased investments in financial products[8] - The company reported a significant increase in accounts receivable, which reached CNY 1,069,786,132.00, compared to CNY 1,230,500,062.45 previously[12] - The company reported an unallocated profit of CNY 1,972,583,703.96, indicating strong retained earnings[26] - The company has a capital reserve of CNY 750,982,775.34, which supports its equity structure[26] - Other comprehensive income reported a negative value of CNY -1,214,539.72, indicating potential losses in this area[26] - The company has a provision for expected liabilities amounting to CNY 37,888,782.88, reflecting its risk management strategy[25] - The company’s total accounts payable reached CNY 1,107,607,895.33, indicating significant operational liabilities[25] Audit and Reliability - The company did not undergo an audit for the third quarter report, which may affect the reliability of the financial data presented[26]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 2,010,900,726.98, representing a 36.86% increase compared to CNY 1,469,293,648.39 in the same period last year[20]. - The net profit attributable to shareholders was CNY 94,863,840.38, up 28.65% from CNY 73,739,752.82 year-on-year[20]. - The basic earnings per share increased by 25.00% to CNY 0.15 from CNY 0.12 in the previous year[20]. - The company reported non-recurring gains of CNY 27,262,348.78 during the reporting period[25]. - The total operating revenue for the first half of 2021 reached ¥2,010,900,726.98, a significant increase of 36.8% compared to ¥1,469,293,648.39 in the first half of 2020[138]. - Operating profit for the first half of 2021 was ¥135,116,084.62, up 47.9% from ¥91,355,336.11 in the same period last year[139]. - Net profit for the first half of 2021 was ¥113,619,689.07, representing a 48.5% increase from ¥76,530,056.50 in the first half of 2020[140]. - Total operating costs for the first half of 2021 were ¥1,899,487,232.37, an increase of 37.1% from ¥1,384,769,833.97 in the first half of 2020[138]. Cash Flow and Liquidity - The net cash flow from operating activities decreased by 50.26% to CNY 121,018,787.58, down from CNY 243,323,291.22 in the previous year[20]. - The cash flow from operating activities for the first half of 2021 was ¥1,500,937,506.68, an increase from ¥1,244,688,908.22 in the first half of 2020[146]. - The net cash flow from investment activities was -¥364,831,497.09, worsening from -¥64,961,111.63 in the first half of 2020[148]. - Cash and cash equivalents at the end of the period decreased to ¥431,798,022.16 from ¥793,372,274.06, reflecting a decline of about 45%[148]. - The company’s cash and cash equivalents decreased by 4.81% to ¥467,817,963.00, while accounts receivable decreased by 1.77% to ¥1,140,474,779.00[55]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 6,701,205,706.01, a 2.33% increase from CNY 6,548,453,988.90 at the end of the previous year[20]. - Total liabilities rose to CNY 2,559,674,157.89 from CNY 2,470,909,560.66, marking an increase of approximately 3.59%[130]. - The total equity attributable to the parent company at the end of the reporting period was 4,141 million RMB, a decrease of 239 million RMB compared to the previous period[154]. - The total liabilities decreased to 1,214 million yuan, indicating improved financial stability[159]. Revenue Breakdown - Revenue from the industrial sector was ¥1,913,136,158.76, accounting for 95.14% of total revenue, with a year-on-year growth of 41.18%[49]. - Revenue from small vehicle thermal management products surged by 79.53% to ¥1,393,601,632.98, while the revenue from large and medium bus thermal management products decreased by 23.62% to ¥396,844,992.16[49][51]. - Domestic revenue constituted 98.09% of total revenue at ¥1,972,501,396.89, reflecting a 42.41% increase year-on-year[49]. Research and Development - Research and development investment rose by 19.16% to ¥95,488,477.92, reflecting the company's commitment to technological advancement[46]. - The company’s R&D team consists of over 300 members, with core personnel having an average of over 10 years of experience in automotive thermal management product development[33]. - The company has over 500 patents and has established more than 200 technical standards, enhancing its competitive edge in technology and product development[34]. Market and Competition - The company has expanded its customer base to over 100 major vehicle manufacturers and more than 330 end customers, achieving a market share of over 70% in public transport in major cities[41]. - The automotive industry is experiencing increased competition and a general downturn, which may lead to operational difficulties for some OEMs, affecting the company's business development[67]. - The company is actively innovating and developing new products to meet customer needs, particularly in the small vehicle thermal management sector, leveraging existing automation equipment to enhance capacity[66]. Corporate Governance and Compliance - The company did not distribute cash dividends or issue new shares from capital reserves during the reporting period[72]. - The company has not engaged in any major litigation or arbitration matters during the reporting period[84]. - The financial report for the first half of 2021 was not audited[126]. Guarantees and Financial Transactions - The company has provided guarantees totaling ¥8,000,000 for Chongqing Songzhi Automotive Air Conditioning Co., Ltd., with actual guarantees of ¥3,422.49 million and ¥2,577.51 million in two separate instances[97]. - The total approved guarantee amount for subsidiaries is CNY 79,000 million, with an actual guarantee balance of CNY 25,210.2 million at the end of the reporting period, representing 6.85% of the company's net assets[101]. Future Outlook - The company plans to continue investing in new technologies and market expansion strategies to drive future growth[155]. - The company aims to enhance its product offerings and improve customer satisfaction through innovative solutions[155]. - The company is exploring potential mergers and acquisitions to strengthen its market presence and diversify its product offerings[162].

Financial Performance - Revenue for Q1 2021 reached ¥940,837,294.28, an increase of 79.35% compared to ¥524,573,760.93 in the same period last year[8] - Net profit attributable to shareholders was ¥29,622,074.43, representing a significant increase of 898.20% from ¥2,967,547.96 year-on-year[8] - The net profit after deducting non-recurring gains and losses was ¥21,965,320.44, up 467.16% from a loss of ¥5,982,454.72 in the previous year[8] - The company's net profit for the first quarter of 2021 is expected to show significant changes compared to the same period last year, although specific figures were not disclosed[20] - The net profit for the first quarter was CNY 38,018,493.73, compared to CNY 2,136,222.57 in the previous year, reflecting a substantial growth in profitability[38] - The comprehensive income totalled CNY 38,625,442.54, significantly higher than CNY 3,149,610.84 from the previous year, showcasing overall financial growth[39] - The company reported a total comprehensive income of CNY 16,964,311.19, compared to CNY 11,624,898.10 in the same quarter last year, marking a 45.6% increase[43] Cash Flow and Investments - Operating cash flow for the period was ¥130,464,146.67, a decrease of 38.62% compared to ¥212,551,369.81 in the same period last year[8] - The cash flow from operating activities generated a net amount of CNY 130,464,146.67, down from CNY 212,551,369.81 in the previous year[46] - The net cash flow from investing activities was negative at CNY -159,386,517.58, compared to CNY -53,546,797.55 in the same period last year[46] - The net cash flow from investment activities was -68,366,053.25 CNY, compared to -8,965,430.54 CNY in the previous year, indicating a significant increase in cash outflow[50] - The company received CNY 1,099,840,857.44 from investment recoveries, significantly higher than CNY 361,770,000.00 in the previous year[46] - The cash outflow for investment activities was 694,733,806.98 CNY, compared to 188,698,255.95 CNY in the previous year, reflecting a substantial rise in investment expenditures[50] Assets and Liabilities - Total assets at the end of the reporting period were ¥6,719,083,804.38, an increase of 2.61% from ¥6,548,453,988.90 at the end of the previous year[8] - The company's total assets amounted to CNY 6,719,083,804.38, an increase from CNY 6,548,453,988.90 at the end of 2020[30] - The company's non-current assets totaled CNY 1,968,923,538.50, slightly down from CNY 1,984,686,025.74 at the end of 2020[28] - Total current liabilities increased to CNY 2,496,027,921.67 from CNY 2,379,490,519.82, marking a rise of about 4.9%[29] - The total liabilities increased to CNY 982,482,812.15 from CNY 954,599,723.54, indicating a rise in financial obligations[34] Equity and Shareholder Information - The total equity attributable to shareholders increased to CNY 3,666,689,710.52 from CNY 3,636,699,714.22, reflecting a growth of approximately 0.8%[30] - The equity attributable to shareholders rose to CNY 3,651,452,646.13, compared to CNY 3,634,488,334.94 in the previous year[34] - There were no overdue commitments from major shareholders or related parties during the reporting period[22] Operating Costs and Expenses - Operating costs increased by 91.08% year-on-year, attributed to improved market conditions and new consolidated entities[16] - Tax and additional charges rose by 114.31% compared to the previous year, driven by increased sales revenue[16] - The total operating costs amounted to CNY 906,700,814.67, up from CNY 527,498,649.73, indicating a significant rise in costs[37] - Research and development expenses for the quarter were CNY 40,896,564.80, slightly up from CNY 38,275,342.13, highlighting continued investment in innovation[37] Earnings and Profitability - The weighted average return on net assets was 0.81%, up from 0.09% in the previous year[8] - The gross profit margin improved, with operating profit reaching CNY 48,172,605.09, compared to CNY 5,967,697.11 in the prior year[38] - The company achieved a basic earnings per share of CNY 0.05, compared to CNY 0.00 in the same quarter last year, indicating improved earnings performance[39] - Earnings per share (EPS) increased to CNY 0.03 from CNY 0.02, representing a 50% growth[43] Other Financial Information - The company reported no significant financial investments or derivative investments during the reporting period[19][18] - The company did not undergo an audit for the first quarter report[51] - The company has not applied the new leasing standards for the first quarter of 2021[51]