Financial Performance - The company's operating revenue for the reporting period reached ¥727,947,938.24, representing a 31.39% increase compared to ¥554,052,591.58 in the same period last year[26]. - Net profit attributable to shareholders was ¥19,837,169.51, a significant increase of 2,218.41% from ¥855,638.15 in the previous year[26]. - The net profit after deducting non-recurring gains and losses was ¥8,507,594.78, improving by 160.44% from a loss of ¥14,076,298.95 in the same period last year[26]. - The basic earnings per share rose to ¥0.0251, up 2,181.82% from ¥0.0011 in the previous year[26]. - The total assets at the end of the reporting period were ¥2,413,186,096.90, reflecting a 0.99% increase from the previous year's end[26]. - The net assets attributable to shareholders increased to ¥1,412,498,046.20, a rise of 1.42% from ¥1,392,660,876.69 at the end of the previous year[26]. - The company reported a net cash flow from operating activities of -¥61,917,321.13, a decline of 223.30% compared to ¥50,216,520.98 in the same period last year[26]. - The company received government subsidies amounting to ¥8,543,208.31, contributing positively to the financial results[27]. Operational Risks - The company faces significant risks including industry volatility, product quality, and technological updates, which could impact operational performance[6][7][8]. - The company’s raw material costs are a significant portion of production costs, and fluctuations in prices could affect gross margins and operational risks[11]. - The company has a high proportion of accounts receivable relative to revenue, which may increase collection risks as business scales up[14]. - The company’s inventory levels are substantial, and any market changes could lead to excess inventory and impact cash flow efficiency[15]. Technological Development - The company emphasizes the importance of continuous technological innovation to meet the evolving demands of automotive manufacturers[8]. - The company has developed seven core technological capabilities, including electric steering ECU technology and intelligent steer-by-wire technology, positioning itself for future growth in smart driving solutions[34]. - Research and development expenses amounted to RMB 50,292,023.37, accounting for 6.91% of operating revenue, indicating a focus on safety, intelligence, and automation in steering system technology[44]. Market Expansion - The company has begun to see results from its efforts to expand into overseas markets, achieving bulk exports of automotive steering systems and key components[12]. - The company plans to continue focusing on the development of new products, including intelligent electric steering systems, to drive future growth[43]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 61,645[112]. - Zhejiang Shibao Holding Group Co., Ltd. holds 39.40% of the shares, totaling 311,123,298 shares, which increased during the reporting period[112]. - Hong Kong Central Clearing Limited holds 27.73% of the shares, totaling 218,996,743 shares, which decreased during the reporting period[112]. - The total number of shares is 789,644,637, with 2.51% being limited shares and 97.49% being unrestricted shares[110]. Financial Management - The company has established a comprehensive quality assurance system covering all stages from product development to after-sales service[81]. - The company has no major capital commitments or contingent liabilities at the end of the reporting period[62][63]. - The company has no significant litigation or arbitration matters during the reporting period[93]. - The company has no major related party transactions during the reporting period[95]. Cash Flow and Liquidity - The company's cash and cash equivalents decreased by RMB 12,192,662.57, a year-on-year increase of 71.50% in net decrease[47]. - The company reported a total investment income of ¥3,193,640.38, up from ¥2,685,010.49 in the same period last year, indicating a growth of 18.9%[128]. - The total cash and cash equivalents at the end of the period amounted to ¥226,210,560.31, a decrease from ¥232,225,660.78 at the end of the previous year, representing a decline of approximately 2.3%[194]. Compliance and Governance - The financial report for the first half of the year is unaudited[118]. - The financial statements have been approved by the board of directors on August 18, 2023, ensuring compliance with corporate governance standards[146]. - The company maintains a continuous operation basis for its financial reporting, with no significant doubts regarding its ability to continue operations in the next 12 months[148].

Cash Flow - Operating cash inflow for the current period was CNY 226,213,016.21, an increase of 21.9% compared to CNY 185,606,864.38 in the previous period[2] - Net cash flow from operating activities was CNY -16,609,425.13, a decline from CNY 6,511,908.60 in the previous period[2] - Cash inflow from investment activities totaled CNY 60,650,946.88, up from CNY 28,985,099.32 in the previous period[2] - Net cash flow from investment activities was CNY -7,474,804.25, an improvement from CNY -20,510,295.03 in the previous period[2] - Cash inflow from financing activities was CNY 73,000,000.00, compared to CNY 60,000,000.00 in the previous period[2] - Net cash flow from financing activities was CNY 7,623,874.92, recovering from CNY -11,259,255.91 in the previous period[2] - The company reported a decrease in cash and cash equivalents by CNY 16,436,751.60, compared to a decrease of CNY 25,419,655.31 in the previous period[2] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 63,867[7] - The largest shareholder, Zhejiang Shibao Holding Group Co., Ltd., holds 38.40% of the shares[7] Financial Performance - The company achieved operating revenue of RMB 345,001,524.92, representing a year-on-year increase of 32.37%[17] - The net profit attributable to shareholders of the listed company was RMB 9,070,150.47, a turnaround from a loss of RMB 4,032,392.53 in the previous year, marking a growth of 324.93%[20] - The net cash flow from operating activities was RMB -16,609,425.13, a decrease of 355.06% compared to the previous year, primarily due to increased cash expenditures for raw material procurement, employee salaries, and VAT payments[17] - The company's total assets at the end of the reporting period were RMB 2,354,610,774.27, a decrease of 1.46% from the end of the previous year[20] - The net assets attributable to shareholders of the listed company increased to RMB 1,401,731,027.16, reflecting a growth of 0.65% compared to the previous year[20] - The basic earnings per share were RMB 0.0115, compared to a loss of RMB 0.0051 in the previous year, indicating a growth of 325.49%[20] - The company reported a gross profit increase due to improved gross margin, contributing to the turnaround in net profit[17] - The company has seen a recovery in sales of commercial vehicle steering products and an increase in production of intermediate shafts and column products[17] Non-Recurring Gains and Losses - Total non-recurring gains and losses amounted to CNY 3,604,823.53 for the current period[6] - The company does not classify any non-recurring gains and losses as recurring items as per the relevant disclosure guidelines[16] Financial Management - The company’s financial expenses included interest expenses of RMB 1,894,499.85, up from RMB 1,255,056.29 in the previous year[14] - The company's board and management guarantee the authenticity, accuracy, and completeness of the quarterly report, assuming legal responsibility for any misstatements or omissions[24] - The first quarter financial report is unaudited[25] - Key financial data will be presented in the upcoming sections[26]

编号：2023-001 | 投资者关系活动类 | □特定对象调研 □分析师会议 | | --- | --- | | 别 | □媒体采访 √业绩说明会 | | | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他 （请文字说明其他活动内容） | | 参与单位名称及人 | 线上参与公司浙江世宝 2022 年度网上业绩说明会的投 | | 员姓名 | 资者 | | 时间 | 2023 年 03 月 30 日（星期四）下午 15:00-17:00 | | 地点 | "浙江世宝 IR"微信小程序 | | 上市公司接待人员 | 董事长：张世权先生 | | 姓名 | 董事兼财务负责人：张兰君女士 | | | 董事兼董事会秘书：刘晓平女士 | | | 1、问：净利润同比下滑 53.67%的原因？ | | | 答：你好!2022 年公司营业收入同比上升 17.70%，但毛 | | | 利率同比下降约 2 个百分点。主要原因为乘用车电动转 | | | 向系统产品销售大幅上升，但其毛利相对较低，而毛利 | | | 率较高的商用车转向产品受商用车市场不良影响，销售 | | | 下降。同时为保持公司持续发展的竞争优势 ...

证券代码：002703 证券简称：浙江世宝 公告编码：2023-016 浙江世宝股份有限公司 投资者依据提示，授权登入"浙江世宝 IR"小程序，即可参与交流。 出席本次网上说明会的人员有：董事长、财务负责人、董事会秘书（如有特 1 殊情况，参会人员将可能做出调整）。 敬请广大投资者积极参与。 关于召开 2022 年年度业绩说明会的通知 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 浙江世宝股份有限公司（以下简称"公司"）于 2023 年 3 月 17 日召开的第 七届董事会第十三次会议审议通过了公司《2022 年年度报告》全文及其摘要。 公司《2022 年年度报告》全文及其摘要于 2023 年 3 月 20 日刊登在巨潮资讯网 (www.cninfo.com.cn)，同时公司《2022 年年度报告摘要》刊登在同日的《证券 时报》，供全体股东和投资者查询阅读。 为便于广大投资者进一步详细了解公司 2022 年年度经营情况，公司决定于 2023 年 3 月 30 日（星期四）下午 15：00—17：00 在"浙江世宝 IR"小程序举 行 2022 年度网上业绩说明会 ...

Financial Performance - Total revenue for 2022 reached ¥1,386,395,566.38, a 17.7% increase from ¥1,177,915,845.96 in 2021[126] - Operating profit for 2022 was ¥18,621,698.32, down 32.7% from ¥27,651,521.48 in 2021[126] - Net profit for 2022 was ¥18,263,799.30, a decrease of 28.7% compared to ¥25,594,976.63 in 2021[126] - Research and development expenses increased to ¥99,668,577.85 in 2022, up 23.8% from ¥80,484,534.57 in 2021[126] - The company’s sales revenue from goods and services received cash of 75,642,650.68 in 2022, compared to 60,737,992.52 in 2021, marking an increase of approximately 24.5%[105] Assets and Liabilities - Total assets increased to CNY 2,389,483,168.38 as of December 31, 2022, up from CNY 2,075,458,857.18 in 2021, representing an increase of approximately 15.1%[97] - Current assets totaled CNY 1,400,158,101.93, a rise from CNY 1,100,647,643.42 in the previous year, indicating a growth of about 27.2%[97] - Total liabilities increased to CNY 1,016,385,196.52, up from CNY 720,624,684.62, which is an increase of approximately 41.1%[97] - The company’s equity attributable to shareholders reached CNY 1,392,660,876.69, compared to CNY 1,376,837,284.22 in the previous year, showing a slight increase of about 1.1%[97] - The total current liabilities amounted to CNY 938,866,486.73, an increase from CNY 664,062,173.33, representing a growth of approximately 41.3%[97] Cash Flow - The net cash flow from operating activities for 2022 was -2,940,991.79, an improvement from -25,695,243.79 in 2021[105] - Total cash inflow from operating activities increased to 107,202,243.81 in 2022, up from 84,545,628.70 in 2021, representing a growth of approximately 26.7%[105] - Cash outflow from investing activities was 41,428,525.00 in 2022, compared to 33,837,755.82 in 2021, indicating an increase of about 22.5%[105] - The net cash flow from financing activities decreased to -30,145,162.97 in 2022 from 65,651,651.28 in 2021, reflecting a significant decline[105] - The total cash and cash equivalents at the end of 2022 were 16,317,774.62, down from 66,286,803.13 at the end of 2021, a decrease of approximately 75.4%[105] Shareholder Information - The total number of shares outstanding is 789,644,637, with 97.49% being unrestricted shares[29] - The company has a total of 303,233,298 unrestricted shares held by its controlling shareholder, Zhejiang Shibao Holding Group[32] - The total number of ordinary shareholders at the end of the reporting period was 72,599, with a significant shareholder, Zhejiang Shibao Holdings Group, holding 303,233,298 shares[49] - The company did not distribute any interim dividends to shareholders during the reporting period[55] - The company plans not to distribute cash dividends or issue bonus shares for the 2022 profit distribution, pending approval from the annual general meeting[74] Compliance and Governance - The company reported no non-operating fund occupation by controlling shareholders or related parties during the reporting period[16] - The company has maintained compliance with local environmental regulations, with wastewater and exhaust emissions meeting government standards[7] - The company has not engaged in any asset or equity acquisition or sale transactions with related parties during the reporting period[21] - The company has maintained compliance with relevant regulations and has not engaged in any related party transactions during the reporting period[39] - There were no significant legal penalties or rectifications during the reporting period[38] Internal Controls and Audits - The internal control audit fee paid to Tianjian Accounting Firm was 200,000 RMB during the reporting period[19] - The internal audit department conducted quarterly reviews of internal controls, covering financial, operational, compliance, and risk management aspects[3] - The internal control system is deemed sufficient and effective based on evaluations by the board and the audit committee[4] - The supervisory board held six meetings during the reporting period to enhance oversight of financial reporting and management actions[86] - The audit opinion issued by Tianjian Accounting Firm was a standard unqualified opinion, reflecting the fair presentation of the financial statements as of December 31, 2022[90] Financial Instruments and Investments - The company recognizes a financial asset when it becomes a party to the financial instrument contract[141] - The company measures expected credit losses based on the risk of default, calculating the present value of cash flow shortfalls for financial instruments[142] - For accounts receivable, the company uses historical credit loss experience and forecasts to determine expected credit loss rates[144] - The company evaluates long-term equity investments based on control, joint control, or significant influence criteria[148] - The company applies the equity method for investments in joint ventures and associates, ensuring proper recognition of income and losses[178] Taxation and Government Grants - The company applies a 15% to 25% corporate income tax rate, with a 13% VAT rate applicable to sales of steering systems and components[159] - The company’s subsidiaries benefit from export tax rebates at a rate of 13% for certain products[159] - The company recognizes government subsidies related to income as deferred income, which is recognized in profit or loss when related costs are incurred[185] - The company received a VAT refund of ¥2,610,994.24 during the reporting period, indicating a positive cash flow impact from tax incentives[2] - The company has obtained high-tech enterprise certification for multiple subsidiaries, allowing for a reduced corporate income tax rate of 15% for the period[2]

Financial Performance - The company's revenue for the third quarter reached ¥372,683,423.29, an increase of 27.15% compared to the same period last year[5]. - Total revenue for the period reached ¥926,736,014.87, an increase of 6.8% compared to ¥866,107,941.76 in the previous period[19]. - Net profit for the period was ¥7,924,051.15, down from ¥38,783,554.40, indicating a decrease of approximately 79.6%[19]. - Net profit attributable to shareholders was ¥5,445,106.84, a decrease of 31.54% year-on-year, while the net profit after deducting non-recurring gains and losses was -¥386,282.92, down 124.57%[5]. - From January to September, net profit attributable to shareholders decreased by 85.14% to ¥6,300,744.99, primarily due to a decline in commercial vehicle sales and high raw material costs[9]. - Operating profit decreased to ¥6,624,934.11 from ¥40,882,477.63, reflecting a significant decline[19]. Assets and Liabilities - The company's total assets at the end of the reporting period were ¥2,174,823,476.47, reflecting a 4.79% increase from the end of the previous year[5]. - Total assets increased to ¥2,174,823,476.47 from ¥2,075,458,857.18, showing a growth of 4.8%[16]. - Total liabilities rose to ¥812,065,252.76, up from ¥720,624,684.62, marking an increase of 12.7%[16]. - The company’s equity attributable to shareholders was ¥1,383,138,029.21, showing a slight increase of 0.46% from the previous year[5]. Cash Flow - The company reported a net cash flow from operating activities of ¥75,132,699.54, which decreased by 2.90% compared to the previous year[5]. - Cash flow from operating activities generated ¥75,132,699.54, slightly lower than ¥77,377,543.20 in the previous period[21]. - The company reported a decrease in cash and cash equivalents to ¥101,563,740.85 from ¥126,784,449.01, a decline of 19.8%[21]. Research and Development - The company has increased its R&D investment in intelligent steering and drive-by-wire steering technologies[9]. - Research and development expenses increased to ¥65,628,133.92 from ¥57,048,327.80, reflecting a growth of 15.5%[19]. Shareholder Information - The top shareholder, Zhejiang Shibao Holding Group Co., Ltd., holds 41.28% of the shares, while Hong Kong Central Clearing Limited holds 28.32%[11]. Inventory and Earnings - The company’s inventory rose to ¥387,662,965.96, up from ¥329,151,211.94, indicating an increase of 17.7%[16]. - The company’s basic earnings per share decreased to ¥0.0080 from ¥0.0537, a decline of approximately 85.1%[19]. Non-Recurring Gains and Losses - Non-recurring gains and losses for the current period totaled ¥5,831,389.76, with government subsidies contributing ¥5,233,783.90[7]. Return on Assets - The weighted average return on net assets was 0.39%, a decrease of 0.19% compared to the same period last year[5].

Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB for the first half of 2022, representing a year-on-year growth of 15%[11]. - The gross profit margin for the first half of 2022 was 25%, a slight decrease from 27% in the same period last year, primarily due to rising raw material costs[11]. - The company's revenue for the reporting period was RMB 554,052,591.58, a decrease of 3.31% compared to the same period last year[41]. - The net profit attributable to shareholders was RMB 855,638.15, down 97.52% year-on-year[41]. - The net profit after deducting non-recurring gains and losses was RMB -14,076,298.95, a decline of 180.70% compared to the previous year[41]. - The operating cash flow for the period was RMB 50,216,520.98, a decrease of 23.92% from the previous year[41]. - The gross profit margin for the main business was 15.83%, down from 22.98% in the same period last year[42]. - The company experienced a significant decline in sales of commercial vehicle steering products due to poor industry performance, particularly in commercial vehicle production and sales, which fell by 38.50%[41]. - The company reported a net cash decrease of RMB 42,780,271.27 in cash and cash equivalents, a decline of 49.30% compared to the previous year[41]. - The total operating revenue for the reporting period was RMB 554,052,591.58, representing a year-on-year decrease of 3.31%[48]. - The investment income increased by 264.54% year-on-year to RMB 398,203.91, primarily due to an increase in the amount of bank short-term financial products redeemed[46]. - The financial expenses for the reporting period were RMB 2,725,879.45, an increase of 26.45% year-on-year, mainly due to reduced interest income and increased exchange losses[46]. - The cash and cash equivalents decreased by RMB 42,780,271.27, a year-on-year decrease of 49.30%[47]. - The company reported a significant increase in investment income to ¥398,203.91 from ¥109,233.65, an increase of approximately 264.5% year-over-year[138]. - Net profit dropped significantly to ¥1,249,399.27 from ¥32,520,824.84, a decrease of approximately 96.2% year-over-year[138]. - Basic earnings per share decreased to ¥0.0011 from ¥0.0436, a decline of approximately 97.5% year-over-year[138]. Market Expansion and Strategy - The company has expanded its user base, with a 20% increase in the number of clients in the automotive sector compared to the previous year[11]. - Future outlook indicates a targeted revenue growth of 10% for the second half of 2022, driven by new product launches and market expansion strategies[11]. - The company plans to enhance its overseas market presence, with a goal of increasing international sales by 30% by the end of 2023[11]. - The company plans to accelerate the development of intelligent driving and autonomous driving technologies, focusing on electric steering and related products[67]. - The company plans to expand its market presence and invest in new product development[133]. - The company is focusing on enhancing its technology capabilities to drive future growth[133]. - The company aims to explore potential mergers and acquisitions to strengthen its market position[133]. Research and Development - The company is investing 100 million RMB in R&D for new technologies, focusing on electric steering systems and smart automotive components[11]. - Research and development expenses amounted to RMB 40,783,290.97, an increase of 9.02% year-on-year, representing 7.36% of total revenue[43]. - The company has been focusing on the development of electric, intelligent, and automated steering technologies to maintain its competitive advantage in the market[43]. Financial Health and Risks - The accounts receivable as of June 30, 2022, accounted for 45% of total revenue, indicating a need for improved collection strategies[14]. - The company faces risks related to raw material price fluctuations, which could impact production costs and profit margins[13]. - The company is aware of potential market volatility and is preparing strategies to mitigate risks associated with economic downturns and industry changes[8]. - The total assets at the end of the reporting period were RMB 2,074,162,834.75, a slight decrease of 0.06% from the end of the previous year[41]. - The company has no significant doubts regarding its ability to continue as a going concern for the next 12 months[164]. - The company’s total liabilities decreased, reflecting improved financial stability[152]. Corporate Governance and Shareholder Information - The company has no plans to distribute cash dividends or issue bonus shares for the current fiscal year, aiming to reinvest profits into growth initiatives[6]. - The company did not distribute cash dividends or issue new shares from capital reserves for the reporting period[73]. - The controlling shareholder, Zhejiang Shibao Holding Group, has committed not to transfer or entrust the management of its shares for 36 months from the date of the A-share listing, with a maximum of 25% transfer allowed annually thereafter[89]. - The largest shareholder, Zhejiang Shibao Holding Group Co., Ltd., holds 41.28% of the shares, totaling 325,993,298 shares[118]. - The second largest shareholder, Hong Kong Central Clearing (Agent) Limited, holds 27.85% of the shares, totaling 219,954,386 shares[118]. - There were no significant related party transactions during the reporting period[98]. - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period[122][123]. Compliance and Accounting Practices - The financial report for the half-year period is unaudited[127]. - Financial statements comply with accounting standards, accurately reflecting the company's financial position, operating results, and cash flows[165]. - The company utilizes the Chinese Yuan (RMB) as its functional currency for accounting purposes[165]. - The company has established specific accounting policies for financial instruments, fixed asset depreciation, and revenue recognition based on its operational characteristics[165]. - The company recognizes impairment losses based on the weighted average of expected credit losses, reflecting the risk of default[178]. Operational Efficiency - The company has initiated new strategies for cost management and operational efficiency to improve profitability[152]. - The company has established criteria for classifying non-current assets as held for sale, including the expectation of sale completion within one year[188].

Financial Performance - The company's revenue for the first quarter was ¥260,633,969.48, a decrease of 11.23% compared to ¥293,620,056.63 in the same period last year[6] - The net profit attributable to shareholders was a loss of ¥4,032,392.53, representing a decline of 119.85% from a profit of ¥20,318,879.58 in the previous year[6] - The basic and diluted earnings per share were both -¥0.0051, a decrease of 119.84% compared to ¥0.0257 in the same period last year[6] - Net profit for the current period was -¥4,643,666.21, compared to a net profit of ¥19,518,183.73 in the previous period, indicating a significant decline[20] - The company reported a significant decline in gross profit margin due to poor performance in the automotive industry, particularly in commercial vehicle production and sales[11] Cash Flow and Operating Activities - The net cash flow from operating activities was ¥6,511,908.60, down 72.54% from ¥23,714,285.28 year-on-year[6] - Cash flow from operating activities generated a net amount of ¥6,511,908.60, down from ¥23,714,285.28 in the previous period[22] - The company experienced a substantial increase in cash outflows for chip procurement due to high chip prices, impacting overall cash flow[11] - The company’s cash and cash equivalents at the end of the period decreased to ¥117,193,602.52 from ¥154,063,124.67, a decline of 23.9%[22] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,100,430,539.23, an increase of 1.20% from ¥2,075,458,857.18 at the end of the previous year[6] - Total assets increased to ¥2,100,430,539.23 from ¥2,075,458,857.18 at the beginning of the year, reflecting a growth of 1.2%[17] - Total liabilities rose to ¥750,240,032.88, up from ¥720,624,684.62, marking an increase of 4.3%[17] - The net assets attributable to shareholders were ¥1,372,804,891.69, a slight decrease of 0.29% from ¥1,376,837,284.22 at the end of the previous year[6] - The total equity attributable to shareholders of the parent company decreased to ¥1,372,804,891.69 from ¥1,376,837,284.22, a slight decline of 0.3%[17] Research and Development - Research and development expenses increased to ¥20,325,622.00 from ¥18,243,270.89, representing a rise of 11.4%[20] Strategic Developments - There were no significant new strategies, product developments, or market expansions reported during the quarter[14]

Profit Distribution and Financial Performance - The company reported a profit distribution plan of no cash dividends, no bonus shares, and no capital reserve conversion into shares[6]. - The company does not plan to distribute cash dividends for the reporting period, reflecting a focus on reinvestment[6]. - The board decided not to distribute cash dividends for the fiscal year 2021, opting instead to retain profits for operational needs and to offset previous losses[143]. - The company plans to roll over the undistributed profits from 2021 to meet future operational funding and profit distribution needs[142]. - The net profit attributable to shareholders of the listed company decreased by 16.38% to ¥34,156,323.88 in 2021 from ¥40,845,971.97 in 2020[31]. - The company's total revenue for the reporting period was RMB 1,177,915,845.96, representing a year-on-year increase of 6.88%[47]. - The gross profit from main business activities was RMB 216,657,158.84, a decrease of RMB 28,106,445.37 compared to the previous year, resulting in a gross profit margin of 19.49%[47]. - The net profit attributable to shareholders was RMB 34,156,323.88, reflecting a year-on-year decline of 16.38%[53]. - The company reported a significant loss of approximately 22.8 million yuan for Jilin Shibao, indicating challenges in that subsidiary[81]. Risks and Challenges - The company faces risks related to industry fluctuations, particularly due to the dependence on the automotive industry's performance, which is influenced by macroeconomic cycles and national policies[8]. - The company is exposed to risks from raw material price fluctuations, which significantly impact production costs and profit margins[13]. - The company has a high proportion of accounts receivable, which poses a risk of bad debts if collection efforts are unsuccessful or if customers face financial difficulties[14]. - The company acknowledges the potential impact of international political and economic changes on its overseas market expansion efforts[15]. - The company has experienced a notable increase in accounts receivable, which may further rise with the expansion of its business scale[14]. Market and Product Development - The company has achieved qualification as a global supplier for Daimler Group's commercial vehicle chassis components and steering systems, indicating successful overseas market expansion[15]. - The company is committed to expanding its overseas market presence while solidifying its domestic market base[15]. - The company emphasizes the importance of continuous technological innovation to meet the evolving demands of automotive manufacturers for safety, intelligence, and energy efficiency[10]. - The company aims to enhance the safety and comfort of automotive driving, focusing on intelligent driving solutions and products for leading global automotive groups[86]. - The company plans to accelerate the transformation and upgrading of products and technologies, particularly in the fields of intelligent driving and autonomous driving steering products[87]. Research and Development - Research and development expenses amounted to RMB 80,484,534.57, up 21.93% year-on-year, accounting for 6.83% of total revenue[48]. - The company's R&D investment amounted to ¥80,484,534.57, a 21.93% increase from ¥66,006,925.33 in 2020, representing 6.83% of operating revenue[65]. - The number of R&D personnel increased by 13.82% to 346 in 2021, with a proportion of 21.15% of total employees[65]. - The company has launched an electric power steering system that operates independently of the engine, significantly reducing fuel consumption and environmental pollution[162]. - The company is a leading developer of hydraulic and electric power steering systems in China, with ongoing research in intelligent steering technologies for smart and autonomous vehicles[41]. Governance and Management - The company maintains a governance structure that meets the regulatory requirements of both mainland China and Hong Kong, ensuring transparency in financial reporting and risk control[42]. - The management team includes Zhang Baoyi as general manager, Tang Haohan as vice general manager, and Zhang Lanjun as the financial officer, all serving until June 30, 2024[112]. - The company has a diverse board of directors with members holding various significant positions and experiences in the industry[99][100][103]. - The total number of shares held by the management team remains stable, indicating confidence in the company's future performance[98]. - The company has not reported any significant changes in shareholding among the board members during the period[98]. Employee and Talent Management - The total number of employees at the end of the reporting period was 1,636, with 1,449 from major subsidiaries and 187 from the parent company[135]. - The professional structure included 1,050 production staff, 421 technical staff, 57 sales staff, 31 financial staff, and 77 administrative staff[135]. - The company established a flexible talent introduction and incentive policy to attract external talent[135]. - The company emphasizes employee training and development to ensure personnel reserves meet business needs[137]. Internal Control and Compliance - The internal audit department conducted quarterly reviews of internal controls, covering financial, operational, compliance, and risk management aspects[150]. - The company maintained effective internal control over financial reporting as of December 31, 2021, according to the external auditor's assessment[152]. - No significant internal control deficiencies were identified during the reporting period[153]. - The company emphasizes compliance with relevant laws and regulations regarding profit distribution policies[142]. - The board's decision-making process regarding profit distribution is compliant and transparent, ensuring protection of minority shareholders' rights[141]. Financial Position and Investments - The total assets at the end of 2021 were ¥2,075,458,857.18, reflecting a 5.02% increase from the end of 2020[31]. - The net assets attributable to shareholders of the listed company increased by 2.54% to ¥1,376,837,284.22 at the end of 2021[31]. - The total loans and borrowings increased to ¥171,780,000.00, up by ¥64,980,000.00 from the previous year[70]. - The company has invested RMB 88 million in bank wealth management products, with an outstanding balance of RMB 62.7 million[191]. - The company has no significant litigation or arbitration matters during the reporting period[180].

Financial Performance - The company's operating revenue for the third quarter was ¥293,100,874.46, a decrease of 6.94% compared to the same period last year[6] - The net profit attributable to shareholders was ¥7,953,339.58, down 63.18% year-on-year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥1,572,274.28, a significant decrease of 90.18% compared to the previous year[6] - Total operating revenue for the period reached ¥866,107,941.76, an increase of 8.0% compared to ¥802,228,479.88 in the previous period[18] - Net profit attributable to the parent company was ¥42,398,508.48, up from ¥38,676,123.24, reflecting a growth of 7.0%[18] - The basic earnings per share for the reporting period was ¥0.0101, a decrease of 63.24% year-on-year[6] - The basic earnings per share increased to ¥0.0537 from ¥0.0490, representing a growth of 14.3%[18] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,996,702,293.78, an increase of 1.04% from the end of the previous year[6] - Total assets increased to ¥1,996,702,293.78 from ¥1,976,246,329.85, marking a growth of 1.2%[15] - Current assets totaled ¥1,042,395,224.49, up from ¥980,352,009.67, indicating an increase of 6.3%[15] - The company reported a decrease in total liabilities to ¥628,679,543.45 from ¥647,007,133.92, a reduction of 2.0%[15] Cash Flow - The company's cash flow from operating activities was ¥77,377,543.20, showing a decrease of 6.73% compared to the previous year[6] - Cash flow from operating activities generated ¥77,377,543.20, slightly down from ¥82,959,979.10 in the previous period[20] - The company’s cash and cash equivalents at the end of the period were ¥126,784,449.01, down from ¥137,023,031.48[20] Equity and Returns - The equity attributable to shareholders at the end of the reporting period was ¥1,385,079,468.82, up 3.16% from the previous year[6] - The weighted average return on net assets was 0.58%, down 1.04 percentage points from the previous year[6] Research and Development - Research and development expenses rose to ¥57,048,327.80, compared to ¥48,999,934.54, reflecting a 16.4% increase[18] Inventory - The company’s inventory increased to ¥329,094,690.96 from ¥254,371,320.73, a rise of 29.4%[15] Industry Context - The company attributed the decline in revenue and profit to the overall performance of the automotive industry and rising raw material costs[9] Other Matters - There were no other significant matters reported during the period[12]