投资者关系活动记录表 | --- | --- | --- | --- | |-------------------------|-----------------------------------|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | | 填表时间 | 2016.7.29 | 填 表 人 | 蔡卫东 | | 接待时间 | 2016.7.28 | 接待地点 | 常州香格里拉酒店 | | 投资者活动类 | ■ 特定对象调研 □ | 分析师会议 | □ 媒体采访 | | | □ 业 ...

Group 1: Company Overview - The company is currently focusing on the aftermarket sales of its OAP products due to failure in durability testing, which prevents entry into the front-end market [2] - The company is actively working to improve processes and product quality to pass relevant tests as soon as possible [2] Group 2: Product Certification and Development - Wuxi Yilong has obtained remanufacturing qualifications for 19 Boeing series aircraft tire part numbers and is developing remanufacturing for Airbus series and domestic large aircraft models [3] - The company plans to establish a national high-speed tire remanufacturing production base in Changzhou, with an initial capacity plan of 100,000 aircraft tires, 200,000 bus tires, and 1,000,000 car tires [3] Group 3: Market Competition - The domestic aircraft tire remanufacturing market is dominated by foreign tire brands, holding over 95% of the total market share [3] - Wuxi Yilong is the only domestic manufacturer with qualifications for aircraft tire remanufacturing and supply [3]

Group 1: Company Overview and Market Position - Jiangsu Southern Precision Engineering Co., Ltd. is the leading company in the needle bearing sector in China, focusing on the production of needle bearings and related components [2][3] - The company has established three main advantages over competitors: brand advantage, cost advantage, and market advantage [3] - The company possesses five key capabilities, including complete production capabilities for all needle bearing components and processes, and the ability to produce 3 billion needle bearings annually [3] Group 2: New Energy Vehicle Division - In March 2022, the company established a new energy vehicle parts division to enhance resource integration and market responsiveness [3][4] - The division has successfully concentrated the company's market, R&D, and sales resources in the new energy vehicle sector, leading to faster customer project development [3][4] Group 3: Product Development and Partnerships - Recent product developments include the NB30282 precision sleeve and round pin column, which have passed customer audits and entered mass production for automotive air conditioning systems [4] - The company has signed supply agreements for various needle bearings and thrust bearings with partners like Hive Drive, indicating a strong market presence in the new energy vehicle sector [4][5] - The company has been collaborating with BYD since 2017, providing components for EPB and battery water valve systems, with rapid growth in business volume [5] Group 4: Future Growth and Market Opportunities - The global bearing market is dominated by eight major foreign companies, which held over 70% market share in 2020, presenting significant opportunities for domestic product substitution [6][7] - The company is expanding into new application areas, including industrial robots, electric vehicles, aerospace clutches, and electronic control unit chips, with some products already in mass production and others in development [7]

证券代码：002553 证券简称：南方精工 编号：2022-002 江苏南方精工股份有限公司 投资者关系活动记录表 | --- | --- | --- | --- | |-------------|--------------------------|-----------------------------------|----------------------------------------------------| | | 特定对象调研 | □分析师会议 | □媒体采访 | | 投资者关 | | □业绩说明会 □新闻发布会 □路演活动 | | | 系活动类 别 | | 电话会议 □现场参观 | | | | □其他（ ） | | | | 参与单位 | 信达澳银基金管理有限公司 | 冯明远 | | | 名称及人 | 汪胜 | | | | 员姓名 | 屠文斌 | | | | 时间 | 2022 年 9 月 28 | 日（星期三） | | | 地点 | 公司二楼会议室 | | | | | | | | | | 董事长： 史建伟 | 先生 | | | 公司接待 | 总经理： | 姜宗成 先生 | | | 人员 ...

Financial Performance - Revenue for Q3 2022 reached ¥158,143,893.28, an increase of 6.37% compared to the same period last year[5] - Net profit attributable to shareholders was ¥31,250,040.76, representing a significant increase of 50.25% year-on-year[5] - The net profit excluding non-recurring gains and losses was ¥30,185,876.37, up by 46.27% compared to the previous year[5] - Basic earnings per share for the period was ¥0.0898, reflecting a growth of 50.17% year-on-year[5] - The company achieved operating revenue of RMB 428.6 million in Q3 2022, a year-on-year decrease of 1.86%[23] - Net profit for Q3 2022 was CNY 70.29 million, a slight decrease of 2.94% compared to CNY 72.41 million in Q3 2021[28] - The company’s total profit for Q3 2022 was CNY 77.48 million, down from CNY 87.85 million in Q3 2021, a decline of 11.88%[28] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,432,531,781.24, a decrease of 2.92% from the end of the previous year[5] - The total assets of the company as of September 30, 2022, amounted to RMB 1.43 billion, a decrease from RMB 1.48 billion at the beginning of the year[26] - Total liabilities decreased to CNY 177.38 million in Q3 2022 from CNY 221.19 million in Q3 2021, a reduction of 19.78%[28] - The company's total equity increased slightly to CNY 1,255.15 million in Q3 2022 from CNY 1,254.46 million in Q3 2021[28] Cash Flow - Cash flow from operating activities for the year-to-date was ¥69,427,637.60, showing a substantial increase of 100.42%[5] - The net cash flow from operating activities increased by 100% to ¥69,427,637.60 compared to ¥34,641,224.34 in the same period last year, primarily due to a decrease in cash paid for labor services[12] - The net cash flow from operating activities for the current period is ¥69,427,637.60, an increase of 100.7% compared to ¥34,641,224.34 in the previous period[31] - The company reported a net increase in cash and cash equivalents of ¥119,065,642.38, compared to ¥67,233,717.98 in the previous period, showing improved liquidity[31] - The ending balance of cash and cash equivalents is ¥218,344,501.90, slightly up from ¥217,114,176.17 in the previous period[31] Investments - Cash received from investment increased significantly by 1279% to ¥3,654,446,826.03, up from ¥265,091,130.00, mainly due to the maturity of short-term financial products[12] - Cash paid for investment surged by 1900% to ¥3,540,782,472.19 from ¥177,025,000.00, attributed to an increase in purchases of short-term financial products[13] - The company invested RMB 100 million in the Huzhou Hongtian equity investment partnership, accounting for 28.1690% of the total subscribed capital of RMB 355 million[20] - Total cash inflow from investment activities reached ¥3,657,144,286.37, significantly higher than ¥272,907,912.27 in the previous period[31] Operational Efficiency - The weighted average return on equity was 2.46%, an increase of 25.51% compared to the same period last year[5] - The company reported a significant increase in cash flow due to favorable exchange rate changes, with an impact of ¥20,807,348.66, a 2561% increase[13] - The company is focusing on automation and digitalization to reduce costs and improve efficiency amid rising logistics costs[24] Challenges and Strategic Focus - The company faced significant challenges due to chip shortages and high raw material prices, impacting its subsidiary's revenue by 89% year-on-year[23] - The company plans to enhance its business expansion in the new energy vehicle sector and increase collaboration with vehicle manufacturers[22] - The company aims to contribute to the development of China's automotive industry while providing better returns for its shareholders[22] Changes and Developments - The company changed its name from "Jiangsu Southern Bearing Co., Ltd." to "Jiangsu Southern Precision Engineering Co., Ltd." to better align with its business focus and development strategy[18] - The company has expanded its product offerings from single bearing products to include precision bearings, one-way overrunning clutches, and various precision components for multiple applications[18] - R&D expenses increased to CNY 38.17 million in Q3 2022, up 23.67% from CNY 30.84 million in Q3 2021[28]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥270,456,027.17, a decrease of 6.11% compared to ¥288,056,978.63 in the same period last year[21]. - The net profit attributable to shareholders was ¥46,550,842.55, down 10.30% from ¥51,897,091.84 year-on-year[21]. - Basic earnings per share were ¥0.1338, down 10.26% from ¥0.1491 in the same period last year[21]. - The weighted average return on equity was 3.78%, a decrease of 1.12% compared to 4.90% in the previous year[21]. - The total comprehensive income for the first half of 2022 was CNY 41,451,246.79, down 21% from CNY 52,440,712.46 in the previous year[154]. - The company reported a financial expense of CNY -12,088,537.83, a significant improvement compared to CNY 1,492,392.18 in the same period of 2021[153]. - The total operating costs for the first half of 2022 were CNY 227,507,549.64, down from CNY 232,306,410.55 in the same period last year[152]. - The company recorded an investment income of CNY 1,472,436.21, a decrease of 80.7% from CNY 7,650,013.35 in the first half of 2021[155]. Cash Flow and Assets - The net cash flow from operating activities increased by 48.77% to ¥28,988,436.13, compared to ¥19,485,710.30 in the previous year[21]. - Cash and cash equivalents increased to ¥268,824,461.65, accounting for 19.13% of total assets, up 12.09% from the previous year[56]. - The company's total assets decreased to CNY 1,404,929,054.89 from CNY 1,475,650,331.04, a decline of 4.8%[142]. - The total current assets of CNY 664,544,108.00 as of June 30, 2022, a decrease of 8.2% from CNY 723,869,108.15 on January 1, 2022[142]. - The cash inflow from investment activities totaled CNY 3,631,035,688.05, compared to CNY 272,661,517.77 in the previous year, marking a significant increase of about 1,333.3%[158]. - The cash outflow from investment activities was CNY 3,430,927,791.64, which is higher than CNY 198,770,074.99 in the same period last year, indicating a rise of approximately 1,626.5%[158]. Industry and Market Conditions - In the first half of 2022, the automotive industry faced challenges such as chip shortages and rising raw material prices, leading to a decline in production and sales, with a total of 12.12 million vehicles produced and 12.05 million sold, representing year-on-year decreases of 3.7% and 6.6% respectively[35]. - The new energy vehicle sector showed significant growth, with production and sales reaching 2.66 million and 2.60 million units, respectively, both increasing by 120% year-on-year, capturing a market share of 21.6%[37]. - The overall economic environment in China showed resilience, with a GDP growth of 2.5% in the first half of 2022, supporting the automotive industry's recovery efforts[33]. - The company maintains a leading position in the needle roller bearing industry in China, with a focus on high-end clients and continuous product upgrades to meet international standards[30]. Research and Development - Research and development investment increased by 27.11% to ¥25,131,964.70, up from ¥19,771,676.85 in the previous year[50]. - The company’s strategic focus on R&D and product innovation is aimed at enhancing its competitive edge in the market[29]. - The company has established a technology innovation system recognized by the Jiangsu Provincial Department of Science and Technology, enhancing collaboration with universities and large equipment manufacturers[45]. Risks and Challenges - The company faces potential risks in its operations, which are detailed in the report, along with corresponding mitigation measures[5]. - The company faces risks from macroeconomic fluctuations and industry market volatility, which could significantly impact future performance, especially in the automotive sector[72]. - Approximately 30% of the company's sales revenue comes from export business, making it vulnerable to international trade friction and uncertainties, particularly in the European and North American markets[73]. - The company is exposed to risks from fluctuations in raw material prices, particularly bearing steel, which can affect production costs and profit margins[74]. Corporate Governance and Shareholder Matters - The company held a temporary shareholders' meeting on April 18, 2022, with an investor participation rate of 43.54%[80]. - The company approved the proposal to change its name and securities abbreviation during the meeting[80]. - There were no changes in the board of directors, supervisors, or senior management during the reporting period[82]. - The company has not implemented any stock incentive plans or employee stock ownership plans during the reporting period[84]. - The company reported no non-operating fund occupation by controlling shareholders or related parties during the reporting period[100]. Environmental and Social Responsibility - The company emphasizes environmental protection and has not faced any administrative penalties for environmental issues during the reporting period[87]. - The company has established a strategy for energy conservation and emission reduction, focusing on optimizing production processes[93]. - The company donated to local educational and charitable organizations to support community development and welfare initiatives[94]. Strategic Initiatives - The company has expanded into the integrated circuit industry by acquiring a controlling stake in Shanghai Zhencheng Microelectronics Technology Co., Ltd., enhancing its business diversification and optimizing its industrial structure[30]. - The company maintains stable strategic partnerships with international automotive parts manufacturers, including Valeo, Bosch, and Magna, contributing to steady sales growth of high-tech products[46].

Financial Performance - The company's revenue for Q1 2022 was CNY 133,700,398.28, representing a 1.80% increase compared to CNY 131,340,860.16 in the same period last year[2] - Net profit attributable to shareholders decreased by 31.00% to CNY 15,608,390.33 from CNY 22,621,815.35 year-on-year[2] - The total operating revenue for Q1 2022 was CNY 133,700,398.28, an increase of 1.03% compared to CNY 131,340,860.16 in Q1 2021[17] - The net profit for Q1 2022 was CNY 12,472,317.24, a decrease of 42.73% from CNY 21,824,303.84 in Q1 2021[18] - The weighted average return on equity decreased to 1.29% from 2.14% year-on-year[2] - The total operating costs for Q1 2022 were CNY 120,721,230.81, up 14.06% from CNY 105,873,471.33 in the same period last year[17] - The basic earnings per share for Q1 2022 were CNY 0.0449, down from CNY 0.0650 in Q1 2021[18] Cash Flow and Assets - The net cash flow from operating activities increased by 4.31% to CNY 21,239,997.32 compared to CNY 20,363,028.04 in the previous year[2] - The cash flow from operating activities for Q1 2022 was CNY 144,725,243.33, compared to CNY 142,120,459.55 in Q1 2021[19] - The total cash inflow from investment activities was ¥2,660,639,729.76, significantly higher than ¥106,843,340.05 in the same period last year[20] - The net cash flow from investment activities was ¥133,663,251.48, a recovery from a negative cash flow of ¥7,303,399.81 in Q1 2021[20] - The cash and cash equivalents at the end of Q1 2022 amounted to ¥252,774,720.93, compared to ¥163,516,558.76 at the end of Q1 2021, indicating a year-over-year increase of approximately 54.5%[21] - The company's net increase in cash and cash equivalents for Q1 2022 was ¥153,495,861.41, compared to an increase of ¥13,636,100.57 in Q1 2021, showing a substantial improvement[21] Shareholder Information - The total number of common shareholders at the end of the reporting period is 26,254[9] - The largest shareholder, Shi Jianwei, holds 39.60% of the shares, amounting to 137,800,000 shares[9] - The top ten shareholders include several private equity funds, indicating a diverse ownership structure[10] Company Strategy and Development - The company has expanded its product offerings from single bearing products to include clutches, pulleys, and various precision components[12] - The company plans to further develop its presence in the new energy vehicle and industrial robot sectors, expanding its application fields[12] - The company has changed its name from "Jiangsu Southern Bearing Co., Ltd." to "Jiangsu Southern Precision Engineering Co., Ltd." to better align with its business strategy[12] - The company completed the registration of its name change and business scope on April 20, 2022, aligning with its strategic goals[11] Financial Position - Total assets at the end of the reporting period were CNY 1,437,472,149.88, down 2.59% from CNY 1,475,650,331.04 at the end of the previous year[2] - The total assets as of the end of Q1 2022 were CNY 1,437,472,149.88, a slight decrease from CNY 1,475,650,331.04 at the end of the previous quarter[16] - The total liabilities for Q1 2022 were CNY 171,560,714.03, down from CNY 221,191,271.63 in the previous quarter[16] - The company’s total equity as of the end of Q1 2022 was CNY 1,265,911,435.85, an increase from CNY 1,254,459,059.41 at the end of the previous quarter[16] Expenses and Financial Changes - Cash and cash equivalents increased by 143.21% to CNY 252,774,720.93 due to the recovery of maturing financial products[6] - The company reported a 337.62% increase in financial expenses, primarily due to foreign exchange losses[6] - Other income decreased by 41.11% to CNY 553,839.50, attributed to a reduction in government subsidies received[6] - Investment income dropped by 69.10% to CNY 566,034.11, mainly due to decreased returns from financial products[6] - The cash paid to employees increased to ¥46,175,458.29 from ¥32,783,514.10, reflecting a rise of approximately 40.7% year-over-year[20] - The company reported a decrease in accounts payable from CNY 85,220,620.64 in the previous quarter to CNY 66,659,342.78 in Q1 2022[16]

Financial Performance - The company's operating revenue for 2021 was CNY 596,201,400.37, representing a 27.95% increase compared to CNY 465,977,399.99 in 2020[20] - The net profit attributable to shareholders decreased by 50.13% to CNY 196,187,782.22 from CNY 393,420,478.91 in the previous year[20] - The net profit after deducting non-recurring gains and losses increased by 27.87% to CNY 83,378,138.20 from CNY 65,206,939.36 in 2020[20] - The company's total assets at the end of 2021 were CNY 1,475,650,331.04, a 14.64% increase from CNY 1,287,167,827.73 at the end of 2020[20] - The net assets attributable to shareholders increased by 15.43% to CNY 1,206,523,411.80 from CNY 1,045,211,709.58 in 2020[20] - The basic earnings per share for 2021 were CNY 0.5638, down 50.13% from CNY 1.1305 in 2020[20] - The weighted average return on equity decreased to 17.52% from 45.74% in the previous year, a decline of 28.22%[20] - The net cash flow from operating activities was CNY 72,476,386.21, a decrease of 17.97% from CNY 88,354,560.15 in 2020[20] Revenue Breakdown - Revenue from the automotive sector was ¥323.12 million, accounting for 54.20% of total revenue, with a year-on-year growth of 15.18%[51] - The industrial sector saw a revenue increase of 35.81%, reaching ¥71.97 million, while the new energy vehicle segment grew by 55.72% to ¥24.09 million[51] - The integrated circuit design and software segment experienced a significant revenue increase of 301.27%, reaching ¥27.89 million[51] - Domestic sales accounted for 71.72% of total revenue, amounting to ¥427.61 million, reflecting a 31.49% increase from the previous year[51] Product Development and Innovation - The company has expanded its product offerings to include needle bearings, overrunning clutches, one-way pulleys, and mechanical components[19] - During the reporting period, the company applied for 45 new patents, including 11 invention patents and 34 utility model patents, with 36 patents granted, further improving its product technology[40] - The company completed the mass production of high-load low-noise thrust needle bearings in 2021, breaking international monopolies[64] - The company is developing a high-load long-life unidirectional decoupling device, with a target torque exceeding 200NM and a lifespan of at least 1500 hours[64] Market Position and Strategy - The company maintained a leading position in the needle bearing industry, focusing on high-end clients and expanding its market share in the main engine market[37] - The company is actively adapting its one-way clutch products to meet international trends and is upgrading its offerings[37] - The company aims to enhance its capital efficiency through strategic share sales, which are expected to support long-term industrial investment returns[83] - The company is focusing on the automotive sector's transition towards electrification, intelligence, connectivity, and digitalization as part of its future development strategy[87] Research and Development - The company has a strong R&D team of over 150 technical personnel and has established a national postdoctoral workstation and provincial technology center[40] - R&D investment as a percentage of operating income rose to 7.56%, an increase of 1.96% from the previous year[65] - The number of R&D personnel increased by 19.84% to 151, with R&D personnel accounting for 15.49% of the total workforce[65] Corporate Governance - The company has established a performance evaluation and incentive mechanism linking the performance of directors and senior management to their compensation[102] - The governance structure complies with the requirements of the Corporate Governance Code and relevant regulations[103] - The company has appointed independent directors and supervisors to enhance governance and oversight[119] Shareholder Engagement and Profit Distribution - The company plans to distribute a cash dividend of CNY 2.00 per 10 shares, based on a total of 348,000,000 shares[5] - A cash dividend of ¥2.00 per 10 shares (before tax) was proposed, amounting to a total cash dividend of ¥69,600,000.00, which represents 100% of the profit distribution[137][139] - The company is set to implement a three-year shareholder return plan from 2021 to 2023[123] Environmental and Social Responsibility - The company emphasizes environmental protection and has not faced any administrative penalties for environmental issues during the reporting period[147] - The company has implemented energy-saving and emission-reduction measures, optimizing production processes to enhance efficiency and material utilization[153] - A total of 470,000 RMB was donated to various charitable organizations for poverty alleviation and educational support during the reporting period[154] Risks and Challenges - The company recognizes risks from macroeconomic fluctuations and trade tensions, which could impact performance, and plans to enhance R&D capabilities and expand market share[91][92] - The company faces risks from raw material price fluctuations, particularly steel, and plans to implement pricing mechanisms linked to steel prices to mitigate impacts[93] - The company is exposed to foreign exchange risks due to its export business being denominated in USD and EUR, and it aims to establish pricing mechanisms linked to exchange rate fluctuations[94] Employee Welfare and Development - The company has established a training program through the Southern Business School to enhance employee skills and efficiency, focusing on various aspects including professional skills and safety management[133] - The company maintains a strong focus on employee welfare, providing regular health check-ups and promoting a safe working environment[151] Financial Management - The company has implemented a robust internal control system to mitigate operational risks and ensure effective governance, with ongoing improvements planned for the future[141] - The company has not encountered any significant internal control deficiencies during the reporting period, indicating effective governance practices[142]

Revenue and Profitability - The company's revenue for Q3 2021 was ¥148,678,533.96, representing a 24.39% increase compared to the same period last year[2]. - Net profit attributable to shareholders decreased by 11.00% to ¥20,798,655.78 for Q3 2021, while year-to-date net profit increased by 22.16% to ¥72,695,747.62[2]. - The basic earnings per share for Q3 2021 was ¥0.0598, down 11.01% year-on-year[2]. - The company's operating revenue for the current period reached ¥436,735,512.59, an increase of ¥123,788,926.97 or 40% compared to the same period last year, driven by the mass production of several key new products and growth in existing product sales orders[8]. - Net profit for the period was ¥72,414,968.79, compared to ¥59,506,666.05 in the same period last year, reflecting a growth of approximately 21.5%[19]. - Earnings per share (EPS) increased to ¥0.2089 from ¥0.1710, indicating a rise of about 22.5%[20]. Assets and Liabilities - Total assets at the end of Q3 2021 were ¥1,332,637,188.04, reflecting a 3.53% increase from the end of the previous year[2]. - The company's total liabilities were CNY 127,379,979.18, slightly up from CNY 125,997,285.25, showing a marginal increase of about 1.1%[15]. - The company's total liabilities increased to ¥201,007,533.13 from ¥193,066,558.34, indicating a rise of approximately 4.8%[19]. - The total cash and cash equivalents at the end of Q3 2021 amounted to CNY 217,114,176.17, up from CNY 88,370,301.20 at the end of Q3 2020, indicating a growth of 145.0%[23]. - The total liabilities increased to CNY 196,462,122.05 as of Q3 2021, up from CNY 193,066,558.34 at the end of 2020, marking an increase of 1.2%[27]. Cash Flow - Cash flow from operating activities for the year-to-date period decreased by 42.93% to ¥34,641,224.34[2]. - Cash received from sales of goods and services was ¥422,203,225.75, an increase of ¥114,866,604.39 or 37%, driven by higher sales receipts during the reporting period[9]. - Cash paid for purchasing goods and services rose to ¥248,869,355.41, an increase of ¥92,739,034.59 or 59%, influenced by rising steel prices and strategic procurement of raw materials[9]. - Cash flow from investment activities decreased by ¥227,908,870.00 or 46%, totaling ¥265,091,130.00, primarily due to a reduction in purchased financial products[9]. - The net cash flow from investment activities for Q3 2021 was CNY 71,410,726.03, compared to CNY 16,416,227.44 in Q3 2020, representing a significant increase[23]. - The net cash flow from financing activities was negative at CNY -38,005,901.63 in Q3 2021, compared to CNY -31,672,841.33 in Q3 2020, reflecting a worsening in financing conditions[23]. Investments and Expenses - Research and development expenses increased by ¥12,769,463.28 or 71% to ¥30,840,936.69, attributed to increased investment in R&D projects and expenses related to the chip development of the subsidiary Shanghai Zhencheng[8]. - The company made a new long-term equity investment of ¥2,025,000.00 in Changzhou Huayi New Material Technology Co., Ltd.[6]. - The company reported a decrease in investment income by ¥7,295,335.19 or 49%, totaling ¥7,544,160.07, mainly due to a reduction in purchased financial products[8]. Shareholder Information - The company has a significant shareholder, Shi Jianwei, holding 39.60% of the shares, which indicates strong control over the company[12]. - The top ten shareholders collectively hold a substantial portion of the company's equity, ensuring a concentrated ownership structure[12]. Other Financial Metrics - The company executed new leasing standards, resulting in a reclassification of liabilities, including a new lease liability of ¥7,870,390.87[7]. - The company reported a decrease in other comprehensive income, with a net amount of -¥86,583.27 compared to a gain of ¥15,041.09 in the previous period[20]. - The report for Q3 2021 was not audited, which may affect the reliability of the financial data presented[29].

Financial Performance - The company's operating revenue for the first half of 2021 was ¥288,056,978.63, representing a 48.93% increase compared to ¥193,416,109.10 in the same period last year[21]. - The net profit attributable to shareholders was ¥51,897,091.84, up 43.61% from ¥36,136,970.37 in the previous year[21]. - The net profit after deducting non-recurring gains and losses increased by 72.88%, reaching ¥49,114,296.67 compared to ¥28,410,198.88 in the same period last year[21]. - The basic earnings per share rose to ¥0.1491, a 43.64% increase from ¥0.1038 in the previous year[21]. - The total assets at the end of the reporting period were ¥1,309,898,786.22, reflecting a 1.77% increase from ¥1,287,167,827.73 at the end of the previous year[21]. - The net assets attributable to shareholders increased by 1.63%, amounting to ¥1,062,244,753.12 compared to ¥1,045,211,709.58 at the end of the previous year[21]. - The net cash flow from operating activities was ¥19,485,710.30, a decrease of 41.42% from ¥33,265,060.90 in the same period last year[21]. - The company achieved operating revenue of 28,806 million yuan, a year-on-year increase of 48.93%[38]. - Operating costs amounted to 18,370 million yuan, reflecting a year-on-year increase of 37.67%, which is lower than the revenue growth rate[39]. - The company realized an operating profit of 6,352 million yuan, up 54.52% year-on-year, driven by increased gross profit from core business[39]. Strategic Initiatives - The company maintains a leading position in the needle bearing industry, with a focus on high-end clients and expanding market share in the main engine market[30]. - The company has diversified into the integrated circuit industry by acquiring a controlling stake in Shanghai Zhencheng Microelectronics Technology Co., Ltd., enhancing its business scale and profitability[30]. - The company is actively launching multiple key new products, contributing to rapid sales growth in the bearing and overrunning clutch segments[38]. - The company continues to optimize management processes, leading to a reduction in operational costs and an increase in gross margin[39]. - The company has established a technology innovation system recognized by the Jiangsu Provincial Department of Science and Technology, enhancing collaboration with universities and large equipment manufacturers[44]. Market Conditions - In the first half of 2021, the bearing industry saw a total revenue of 568.50 billion yuan, a year-on-year increase of 30.06%[37]. - The global automotive market experienced a 26% year-on-year increase in sales, with China accounting for 31.43% of global sales[34]. - The automotive sector accounted for 58.85% of total revenue, with sales amounting to ¥169,509,525.96, marking a 35.06% increase compared to the previous year[51]. - Motorcycle segment revenue was ¥64.65 million, showing a year-on-year growth of 47.05%[53]. - Bearing business revenue totaled ¥177.47 million, reflecting a 48.16% increase compared to the previous year[53]. Research and Development - Research and development expenses rose by 79.77% to ¥19,771,676.85, reflecting increased investment in R&D projects and chip development costs at the subsidiary Shanghai Zhencheng[49]. - The company applied for 40 new patents during the reporting period, including 10 invention patents and 30 utility model patents, with 7 patents already authorized[41]. Financial Management - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company reported non-recurring gains of ¥2,782,795.17 during the reporting period[26]. - The company has committed to not engaging in any competitive business activities that may conflict with its current and future operations, ensuring compliance with relevant commitments[93]. - The company reported a commitment to distribute profits in cash, stock, or a combination of both, ensuring active cash distribution under normal operating conditions for the years 2021-2023[95]. Operational Challenges - The company is facing risks from raw material price fluctuations, particularly in bearing steel, which directly impacts production costs and profit margins[71]. - The company has implemented measures to adjust pricing mechanisms in response to raw material price changes to stabilize overall profitability[71]. - The company anticipates continued challenges in the automotive industry, with expected declines in growth rates and increased pricing pressures on component manufacturers[69]. Corporate Governance - The company has experienced management changes, with the appointment of a new CFO on March 25, 2021, following the resignation of the previous CFO[79]. - The company maintains a strong commitment to investor relations, ensuring transparent and timely information disclosure to protect the rights of all shareholders[86]. - The company has not initiated any employee stock ownership plans or other incentive measures during the reporting period[81]. Environmental Responsibility - The company emphasizes energy conservation and environmental protection as a key strategic focus, implementing appropriate environmental policies and appointing the chairman as the first responsible person for environmental protection[84]. - The company has made significant efforts in waste recycling and the purchase of professional environmental protection equipment to minimize environmental impact[84]. - The company has implemented strict environmental management standards in product development and production processes, optimizing product structure and improving material utilization rates[89]. Financial Reporting - The semi-annual financial report was not audited[98]. - The financial statements are prepared based on the going concern assumption, with management believing the company can continue operations for at least 12 months from the approval date of the financial report[180]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that the financial statements accurately reflect its financial position, operating results, and cash flows[182].