Financial Performance - The company's operating revenue for Q1 2021 was ¥293,620,056.63, representing a 51.80% increase compared to ¥193,425,679.92 in the same period last year[9]. - Net profit attributable to shareholders was ¥20,318,879.58, a significant turnaround from a loss of ¥2,654,630.93, marking an increase of 865.41%[9]. - The net profit after deducting non-recurring gains and losses was ¥7,719,891.50, compared to a loss of ¥6,643,788.68, reflecting a 216.20% improvement[9]. - The basic earnings per share (EPS) was ¥0.0257, a substantial increase from a loss of ¥0.0034 per share in the previous year, representing an increase of 855.88%[9]. - Operating profit for Q1 2021 was ¥20,697,946.93, compared to a loss of ¥4,486,166.50 in Q1 2020, indicating a turnaround in profitability[66]. - Net profit for Q1 2021 was ¥19,518,183.73, a substantial improvement from a net loss of ¥4,255,813.74 in the previous year[66]. Cash Flow - The net cash flow from operating activities was ¥23,714,285.28, up 6.83% from ¥22,198,458.81 in the same period last year[9]. - Cash flow from operating activities showed improvement, contributing positively to the company's liquidity position[73]. - Total cash inflow from operating activities was ¥199,396,620.14, compared to ¥146,135,518.50, marking an increase of 36.4%[75]. - Cash inflow from investment activities totaled ¥64,997,273.59, down from ¥99,585,246.23, indicating a decrease of 34.8%[75]. - The net cash flow from investment activities was -¥13,302,930.49, a significant decline from ¥46,430,571.40 in the prior period[75]. - Cash inflow from financing activities was ¥15,000,000.00, a decrease of 84.5% compared to ¥97,000,000.00 in the previous period[75]. - The net cash flow from financing activities was -¥1,188,419.27, compared to a positive flow of ¥5,541,042.20 last year[75]. - The ending cash and cash equivalents balance was ¥154,063,124.67, down from ¥191,556,358.53, reflecting a decrease of 19.6%[75]. - The company reported a net increase in cash and cash equivalents of ¥9,012,906.18, a significant drop from ¥74,442,876.74 in the previous period[75]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,962,033,741.72, a slight decrease of 0.72% from ¥1,976,246,329.85 at the end of the previous year[9]. - The total liabilities decreased to CNY 613,276,362.06 from CNY 647,007,133.92, indicating a reduction of about 5.2%[53]. - The company's total liabilities decreased to ¥174,005,922.28 as of March 31, 2021, down from ¥174,970,488.14 at the end of 2020[60]. - The company's current assets increased to CNY 1,003,598,072.40 from CNY 980,352,009.67, reflecting a growth of approximately 2.5%[50]. - The company's total equity increased to CNY 1,348,757,379.66 from CNY 1,329,239,195.93, reflecting a growth of about 1.5%[53]. - The total equity increased to ¥1,090,088,869.69 as of March 31, 2021, compared to ¥1,086,516,614.36 at the end of 2020, reflecting a growth of approximately 0.2%[60]. Expenses and Investments - Research and development expenses amounted to RMB 18,243,270.89, a year-on-year increase of 31.76%, representing 6.21% of operating revenue, a decrease from the previous year[23]. - Sales expenses rose to RMB 19,659,768.20, a year-on-year increase of 57.10% due to higher transportation and warranty costs[23]. - Investment income decreased by 57.19% to RMB 90,779.27, primarily due to reduced investment in short-term financial products[24]. - The company reported a credit impairment loss of RMB 1,518,784.21, compared to a gain in the same period last year, indicating a significant change in receivables management[24]. Shareholder Information - The top shareholder, Zhejiang Shibao Holding Group Co., Ltd., holds 43.28% of the shares, with a total of 341,786,098 shares[13]. - The company has committed to not transferring or entrusting its shares for 36 months post-IPO, with a limit of 25% transfer per year thereafter[34]. - The company has no non-operating fund occupation by controlling shareholders or related parties during the reporting period[44]. - The company has no securities or derivative investments during the reporting period[39][40]. Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[66]. - The overall financial health of the company appears to be strengthening, with a focus on reducing liabilities and increasing profitability[66].

मे SB 浙江世蔓股份有限公司 zhejiang shibao company limited* (於中華人民共和國註冊成立的股份有限責任公司) 股份代號：1057 u T ME l #能 未來方向 2020年報 *肇供碳別 800 4 目錄 公司資料2 企業簡介7 五年財務概要8 董事長報告書9 管理層討論及分析 10 董事、監事及高級管理層 24 董事會報告 27 監事會報告 34 企業管治報告 35 審計報告 45 財務報表 合併資產負債表 50 母公司資產負債表 52 合併利潤表 53 母公司利潤表 54 合併現金流量表 55 母公司現金流量表 56 合併所有者權益變動表 57 母公司所有者權益變動表 58 財務報表附註 59 詞彙 157 重要提示： 本年報分別以中、英文兩種語言編訂，兩種文體若出現解釋上的歧義時，以中文本為 準。 公司資料 法定名稱 浙江世寶股份有限公司 Zhejiang Shibao Company Limited* | --- | --- | |------------------|----------------------------------------------- ...

Financial Performance - The company's operating revenue for 2020 was ¥1,102,127,420.29, representing a 12.19% increase from ¥982,370,362.06 in 2019[35]. - The net profit attributable to shareholders in 2020 was ¥40,845,971.97, a significant recovery from a loss of ¥176,711,694.44 in 2019[35]. - The net cash flow from operating activities reached ¥95,704,763.63, marking a 140.46% increase compared to ¥39,800,748.05 in the previous year[35]. - The total assets at the end of 2020 amounted to ¥1,976,246,329.85, showing a slight increase of 0.05% from ¥1,975,196,092.31 at the end of 2019[35]. - The company achieved a basic earnings per share of ¥0.05 in 2020, recovering from a loss of ¥0.22 in 2019[35]. - The gross profit from main business reached RMB 244,763,604.21, with a gross margin of 22.86%, up from 13.21% in 2019[50]. - The net profit attributable to shareholders was RMB 40,845,971.97, marking a turnaround from a loss of RMB 176,711,694.44 in 2019[54]. - The company achieved operating revenue of RMB 1,102,127,420.29, an increase of 12.19% year-on-year[50]. - The company reported a total revenue of 1.5 billion in 2020, representing a year-over-year growth of 10%[161]. Investment and Capital Structure - The company's total loans and borrowings decreased to RMB 106,800,000.00 from RMB 151,800,000.00 at the end of the previous year, a reduction of RMB 45,000,000.00[79]. - The company's capital structure shows a capital debt ratio of -2.95%, indicating a decrease from 2.62% in the previous year[80]. - The company utilized RMB 76,290,700.00 of the raised funds for permanent working capital as of the end of 2020[79]. - The company utilized a total of 595.73 million yuan in raised funds by the end of 2020, with 76.29 million yuan specifically used in that year[82]. - The company has no significant capital commitments or contingent liabilities as of the end of the reporting period[94][95]. Market and Operational Risks - The company faces risks related to industry fluctuations, product quality, and technological updates, which could impact its operational performance[8][9][10]. - The company has acknowledged the potential risks associated with market expansion and management complexity following the launch of new investment projects[16]. - The company’s raw material costs are significantly impacted by price fluctuations, which could affect production costs and profit margins[13]. - Accounts receivable at the end of the reporting period were at a high level, posing a risk of bad debts if collection efforts are unsuccessful[14]. Research and Development - The company is actively engaged in the research and development of intelligent steering technologies for smart and autonomous vehicles[44]. - The company's R&D investment amounted to RMB 66,006,925.33, representing 5.99% of operating revenue, an increase of 6.96% compared to the previous year[68]. - Research and development expenses amounted to RMB 66,006,925.33, representing 5.99% of operating revenue, slightly down from the previous year[51]. - The company plans to pursue strategic acquisitions to enhance its product portfolio, with a budget of 500 million allocated for this purpose[161]. Corporate Governance and Shareholder Information - The company maintains a high level of corporate governance, ensuring transparency in financial reporting and risk control[45]. - The total number of shareholders at the end of the reporting period is 26,510, indicating a stable shareholder base[142]. - 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[115]. - The company has no non-operating fund occupation by controlling shareholders or related parties during the reporting period[116]. - The board of directors has proposed not to distribute profits for the reporting period, pending shareholder approval[184]. Future Outlook - The company plans to not distribute cash dividends, issue bonus shares, or increase capital from reserves for the fiscal year[113]. - The automotive industry in China is expected to experience stable growth during the "14th Five-Year Plan" period, driven by electrification, intelligence, and connectivity[98]. - The company aims to enhance the safety and comfort of automotive steering systems and expand its capabilities to an internationally competitive level[99]. - The company will focus on the marketization of intelligent and autonomous driving-related steering products while maintaining stable operations[100]. - The company has set a revenue guidance for 2021 at 1.8 billion, which reflects a growth target of 20%[161]. Employee and Management Information - The company employed a total of 1,680 staff, with 1,152 in production, 370 in technical roles, and 47 in sales[170]. - The total pre-tax remuneration for the board of directors and senior management amounted to CNY 446.29 million[168]. - The company has established a flexible talent introduction and incentive policy to attract external talent[173]. - The company has a training plan focusing on internal training and external expert sessions to enhance employee skills[175].

Financial Performance - Operating revenue for the reporting period reached ¥314,975,006.55, representing a year-on-year increase of 33.28%[8] - Net profit attributable to shareholders was ¥21,600,574.31, a significant increase of 232.02% compared to the same period last year[8] - Basic earnings per share for the reporting period were ¥0.0274, up 231.73% year-on-year[8] - The company's operating revenue for the first nine months of 2020 was RMB 802,228,479.88, an increase of 16.80% compared to RMB 686,835,516.68 in the same period of 2019[18] - The net profit for the current period was ¥20,227,714.78, compared to a net loss of ¥18,986,475.29 in the previous period, marking a turnaround[54] - The company reported a significant increase in total comprehensive income for the current period, totaling ¥20,227,714.78, reversing from a comprehensive loss of ¥18,986,475.29 in the previous period[54] Cash Flow - The net cash flow from operating activities was ¥36,357,227.51, reflecting a 69.91% increase from the previous year[8] - The net cash flow from operating activities increased by 481.99% to RMB 82,959,979.10, driven by higher cash inflows from prepaid rents and government subsidies[23] - The cash flow from operating activities generated a net amount of ¥82,959,979.10, a substantial increase compared to ¥14,254,463.95 in the previous period[72] - The total cash and cash equivalents at the end of the period amounted to ¥137,023,031.48, an increase from ¥112,362,868.41 at the end of the previous period[72] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥1,947,976,140.98, a decrease of 1.38% compared to the end of the previous year[8] - The company's net assets attributable to shareholders increased to ¥1,340,511,111.61, up 2.97% from the previous year[8] - Total liabilities decreased to CNY 619,294,169.96 from CNY 680,557,817.14, a reduction of about 9.0%[46] - Current assets totaled CNY 953,888,086.42, down from CNY 991,058,475.50, indicating a decrease of about 3.8%[46] Expenses - Total operating costs increased to ¥293,132,254.05, up from ¥258,808,308.53, reflecting a rise of 13.2%[54] - Research and development expenses rose to ¥18,804,853.24, an increase of 39.9% from ¥13,460,452.95[54] - The company’s research and development expenses increased to ¥3,364,914.87 from ¥2,603,966.70 in the previous period, reflecting a focus on innovation[67] - Financial expenses rose by 79.01% to RMB 3,136,812.81, mainly due to increased interest expenses[21] Investments - The company has utilized 210 million RMB of idle raised funds to temporarily supplement working capital, with 35 million RMB remaining to be returned to the special account by September 30, 2020[34] - The investment progress for the automotive parts precision casting and processing project reached 66.77% by the end of the reporting period[31] - The automotive hydraulic power steering expansion project is expected to achieve a net profit of 70.35 million RMB, but has only realized approximately 19.40 million RMB in net profit from January to September 2020 due to declining sales and prices[33] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 29,924[12] - The company's equity attributable to shareholders rose to CNY 1,340,511,111.61 from CNY 1,301,834,988.37, an increase of approximately 2.9%[46] Miscellaneous - The company has not experienced any major changes in the feasibility of its projects during the reporting period[34] - The company has not conducted any investor communications or interviews during the reporting period[41]

*僵供識別 मे 浙江世寶股份有限公司 ZHEJIANG SHIBAO COMPANY LIMITED® (於中華人民共和國註冊成立的股份有限責任公司) 股份代號：1057 實轉向 #能 未來方向 2020 中期報告 are 目錄 公司資料 2 主要會計數據和財務指標 5 未經審計中期財務報表 合併資產負債表 6 母公司資產負債表 8 合併利潤表 9 母公司利潤表 10 合併現金流量表 11 母公司現金流量表 12 合併所有者權益變動表 13 母公司所有者權益變動表 14 財務報表附註 15 經營情況討論與分析 97 企業管治及其他資料 102 詞彙 105 公司資料 | --- | --- | |------------------|-------------------------------------------------------------| | | | | 法定名稱 | 浙江世寶股份有限公司 | | | Zhejiang Shibao Company Limited* | | 董事會 | 執行董事 張寶義先生 （副董事長兼總經理） | | | 湯浩瀚先生 （副董事長兼副總經理） 張蘭君女士 ...

Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB for the first half of 2020, representing a year-on-year growth of 15%[28]. - The company's revenue for the reporting period reached RMB 487,253,473.33, an increase of 8.16% compared to the same period last year[35]. - Total operating revenue reached RMB 487,253,473.33, representing an 8.16% increase compared to RMB 450,513,067.17 in the same period last year[49]. - The net profit attributable to shareholders was RMB 17,075,548.93, a significant turnaround from a loss of RMB 18,428,119.21 in the previous year, representing a growth of 192.66%[35]. - The net profit attributable to shareholders for the reporting period was RMB 17,075,548.93, an increase of 192.66% year-on-year[48]. - Operating profit turned positive at CNY 12.10 million, compared to a loss of CNY 23.03 million in the first half of 2019[130]. - Net profit for the first half of 2020 was CNY 13.82 million, a significant recovery from a net loss of CNY 22.52 million in the same period of 2019[130]. - The company achieved a total comprehensive income of ¥17,075,548.93 for the first half of 2020, compared to a loss of ¥18,428,119.21 in the same period of 2019, indicating a recovery in profitability[144]. Profitability and Margins - The gross profit margin for the first half of 2020 was 25%, indicating a stable performance despite market fluctuations[28]. - The gross profit margin for the main business improved to 20.87%, up from 16.32% in the same period last year[45]. - The gross profit margin for the automotive parts and accessories manufacturing segment improved to 20.87%, an increase of 4.55% compared to the previous year[49]. - The gross profit margin improved, with total operating costs slightly decreasing to CNY 478.91 million from CNY 479.06 million in the previous year[130]. Research and Development - Future outlook includes plans to invest 300 million RMB in R&D for new product development, focusing on electric steering systems and smart automotive components[28]. - Research and development expenses amounted to RMB 30,195,081.30, accounting for 6.20% of total revenue, with a year-on-year increase of 8.41%[46]. - The company is focusing on enhancing its research and development capabilities to drive innovation and market competitiveness[129]. - The company aims to enhance its competitive advantage by focusing on the research and development of electric, intelligent, and automated steering systems[40]. - The company has launched an electric power steering system that operates independently of the engine, significantly reducing fuel consumption and pollution[96]. 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[28]. - The company aims to increase its market share in overseas markets by 10% over the next year, leveraging recent successes in exporting steering assemblies and chassis components[28]. - The company has identified potential acquisition targets in the automotive parts sector to enhance its product offerings and market presence[28]. - The company plans to adopt a cautious investment strategy focusing on core business areas and accelerating the development of smart driving and autonomous driving technologies[70]. Financial Position and Assets - Total assets at the end of the reporting period were RMB 1,973,024,269.38, a slight decrease of 0.11% from the previous year[35]. - Cash and cash equivalents at the end of the reporting period amounted to RMB 201,711,146.03, representing 10.22% of total assets, up from 6.62% at the beginning of the period[52]. - The total amount of loans and borrowings decreased to RMB 134,800,000.00, down RMB 17,000,000.00 from the previous year-end[54]. - Current assets totaled CNY 986,842,557.19, down from CNY 991,058,475.50 in the previous period, with cash and cash equivalents increasing to CNY 201,711,146.03 from CNY 130,823,115.52[123]. - The company's equity attributable to shareholders increased to CNY 1,318,910,537.30 from CNY 1,301,834,988.37, while total equity rose to CNY 1,308,454,256.24 from CNY 1,294,638,275.17[123]. Cash Flow and Financial Management - The net cash flow from operating activities was RMB 46,602,751.59, a remarkable increase of 752.40% compared to the previous year[35]. - The net cash flow from operating activities was ¥52,605,020.12, a significant improvement from a negative cash flow of ¥32,047,547.27 in the same period of 2019, representing a turnaround of over 260%[140]. - The company reported a financial expense of RMB 2,284,756.39, an increase of 46.10% year-on-year, mainly due to rising interest costs[46]. - The company incurred financial expenses of CNY 2.28 million, an increase from CNY 1.56 million in the first half of 2019, indicating higher interest costs[130]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 789,644,637 shares[105]. - The largest shareholder, Zhejiang Shibao Holding Group Co., Ltd., holds 43.28% of the shares, totaling 341,786,098 shares[108]. - The company will not distribute cash dividends or issue bonus shares for the half-year period[74]. Compliance and Governance - The half-year report was not audited, indicating a lack of external verification of the financial statements[79]. - The company has not engaged in any major related party transactions during the reporting period[85]. - No significant litigation or arbitration matters were reported during the reporting period[81]. - The company has confirmed that there are no significant doubts regarding its ability to continue as a going concern for the next 12 months[155]. Inventory and Asset Management - The company reported a decrease in inventory to CNY 216,167,023.52 from CNY 216,838,013.54, indicating stable inventory management[123]. - The company applies a perpetual inventory system for inventory management and uses a write-off method for low-value consumables and packaging[185].

餐 में र 浙江世賽股份有限公司 ZHEJIANG SHIBAO COMPANY LIMITED' (於中華人民共和國註冊成立的股份有限責任公司) 股份代號：1057 世實轉向 掌舵 泉來方向 年 報 2019 *懂供藏別 目錄 | --- | --- | |------------------------|-------| | 公司資料 | 2 | | 企業簡介 | 7 | | 五年財務概要 | 8 | | 董事長報告書 | 9 | | 管理層討論及分析 | 10 | | 董事、監事及高級管理層 | 24 | | 董事會報告 | 27 | | 監事會報告 | 35 | | 企業管治報告 | 36 | | 審計報告 | 46 | | 財務報表 | | | 合併資產負債表 | 51 | | 母公司資產負債表 | 53 | | 合併利潤表 | 54 | | 母公司利潤表 | 55 | | 合併現金流量表 | 56 | | 母公司現金流量表 | 57 | | 合併所有者權益變動表 | 58 | | 母公司所有者權益變動表 | 59 | | 財務報表附註 | 60 | | 詞彙 | 155 | 重要提示： 本年報 ...

Financial Performance - The company's operating revenue for Q1 2020 was ¥193,425,679.92, a decrease of 10.21% compared to ¥215,422,919.91 in the same period last year[8] - The net profit attributable to shareholders was -¥2,654,630.93, an improvement of 76.34% from -¥11,219,820.98 year-on-year[8] - The company's operating revenue for Q1 2020 was CNY 193,425,679.92, a decrease of 10.21% compared to CNY 215,422,919.91 in Q1 2019[16] - The net profit attributable to the parent company was CNY -2,654,630.93, an improvement of 76.34% from CNY -11,219,820.98 in the same period last year[16] - Net profit for the period was -¥4.26 million, improving from -¥13.20 million in the previous period, indicating a reduction in losses[53] - The company reported a basic and diluted earnings per share of -¥0.0034, an improvement from -¥0.0142 in the previous period[53] Cash Flow - The net cash flow from operating activities was ¥22,198,458.81, a significant increase of 167.23% compared to -¥33,018,473.71 in the previous year[8] - Operating cash flow net amount increased by 167.23% to CNY 22,198,458.81, compared to CNY -33,018,473.71 in Q1 2019[20] - Cash flow from operating activities generated ¥22.20 million, a significant improvement compared to -¥33.02 million in the previous period[62] - Cash inflow from operating activities totaled ¥16,611,621.76, an increase from ¥12,137,469.90 year-over-year[67] - Operating cash flow net amount reached ¥5,465,718.27, a significant improvement from last year's negative cash flow of -¥21,989,725.72[67] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,966,287,540.94, a slight decrease of 0.45% from ¥1,975,196,092.31 at the end of the previous year[8] - Current assets totaled CNY 983,233,551.70, slightly down from CNY 991,058,475.50, indicating a decrease of 0.83%[37] - Total liabilities decreased to CNY 675,905,079.51 from CNY 680,557,817.14, a reduction of 0.24%[41] - The company's equity attributable to shareholders was CNY 1,299,180,357.44, down from CNY 1,301,834,988.37, reflecting a decrease of 0.20%[41] Shareholder Information - The company reported a total of 35,642 common shareholders at the end of the reporting period[12] - Zhejiang Shibao Holding Group Co., Ltd. remains the largest shareholder, holding 43.28% of the shares[12] Expenses - Sales expenses decreased by 33.70% to CNY 12,514,375.74, primarily due to reduced transportation and warehousing costs[17] - Management expenses decreased by 23.19% to CNY 13,645,911.00, attributed to reduced business activities and government policies on social insurance[19] - Financial expenses increased by 211.66% to CNY 1,212,414.11, mainly due to increased bank borrowings[19] - The company’s financial expenses rose to ¥1.21 million from ¥0.39 million, primarily due to increased interest expenses[53] Inventory and Receivables - Accounts receivable decreased to ¥364,526,016.57, accounting for 18.54% of total assets, down from 20.19%[14] - Inventory increased to ¥228,478,431.38, representing 11.62% of total assets, up from 10.98%[14] - The company reported a total of CNY 364,526,016.57 in accounts receivable, down from CNY 398,848,776.89, indicating a decrease of 8.6%[37] - Inventory increased to CNY 228,478,431.38 from CNY 216,838,013.54, showing a growth of 5.5%[37] Investment Activities - Investment cash flow net amount rose by 347.79% to CNY 46,430,571.40, compared to CNY -18,737,575.93 in the same period last year[20] - Total cash inflow from investment activities was ¥150,160,054.80, compared to ¥20,186,176.71 in the previous period, indicating a substantial increase[67] - Cash outflow for investment activities totaled ¥99,756,718.89, up from ¥14,615,527.41 in the prior year[67] - The company received ¥80,000,000.00 related to investment activities, indicating a new influx of cash[67] Significant Events - The company reported no significant events or updates that require explanation during the reporting period[23]

Financial Performance - The company reported a profit distribution plan of no cash dividends, no bonus shares, and no capital reserve conversion into shares[7]. - The company's operating revenue for 2019 was ¥982,370,362.06, a decrease of 13.30% compared to ¥1,133,097,729.85 in 2018[35]. - The net profit attributable to shareholders in 2019 was -¥176,711,694.44, representing a significant decline of 2,527.90% from ¥7,278,368.34 in 2018[35]. - The net cash flow from operating activities improved to ¥39,800,748.05 in 2019, a 409.74% increase from -¥12,849,643.30 in 2018[35]. - The total assets at the end of 2019 were ¥1,975,196,092.31, down 3.42% from ¥2,045,077,333.85 at the end of 2018[35]. - The company reported a basic earnings per share of -¥0.2238 in 2019, a decrease of 2,532.61% from ¥0.0092 in 2018[35]. - The net assets attributable to shareholders decreased by 11.95% to ¥1,301,834,988.37 at the end of 2019 from ¥1,478,546,682.81 at the end of 2018[35]. - The gross profit from the main business was RMB 127,405,462.04, with a gross margin of 13.21%, down from 16.62% in 2018[50]. - The company reported a net profit attributable to shareholders of RMB -176,711,694.44, compared to a profit of RMB 7,278,368.34 in 2018[54]. - The total sales volume for automotive parts was 1,899,168 units, a decline of 8.75% from 2,081,171 units in 2018[59]. - The production volume of automotive parts was 1,874,522 units, down 9.15% from 2,063,234 units in the previous year[59]. - The company's financial expenses increased by 775.15% to RMB 3,017,313.82, mainly due to increased bank borrowings[51]. - The automotive parts manufacturing segment generated RMB 964,554,512.66 in revenue, representing 98.19% of total operating revenue, with a gross margin of 13.21%[55]. Operational Risks and Challenges - The automotive parts manufacturing industry is significantly influenced by the macroeconomic cycle and national policies, which poses operational risks for the company[9]. - The company faces a high proportion of accounts receivable, which may increase with business scale expansion, posing a risk of bad debts[15]. - The company has highlighted the risk of product quality issues, which could lead to recalls and negatively impact brand reputation and financial performance[10]. - The company has not disclosed specific revenue figures or growth percentages in the report, indicating a need for further financial details[11]. - The company has not provided specific guidance on future performance or revenue targets, reflecting uncertainty in market conditions[8]. - The automotive industry faced substantial pressure in 2019 due to trade tensions and the COVID-19 pandemic, impacting overall market demand[102]. Research and Development - The company emphasizes the importance of continuous technological innovation to meet the evolving demands of automotive manufacturers[12]. - The company aims to enhance its research and production capabilities in automotive steering systems to achieve international competitiveness[44]. - Zhejiang Shibao is one of the first companies in China to develop hydraulic and electric power steering systems, focusing on intelligent driving solutions[44]. - R&D expenditure was RMB 61,712,823.86, a decrease of 7.14%, but the proportion of R&D spending relative to operating revenue increased[51]. - In 2019, the company's R&D investment accounted for 6.28% of sales revenue, emphasizing its commitment to technological innovation[137]. - The company launched an electric power steering system that operates independently of the engine, significantly reducing fuel consumption and environmental pollution[137]. - The company focuses on the research and development of automotive steering products, including steering gears and key components of steering systems[183]. Strategic Plans and Future Outlook - The company plans to expand its product offerings towards integrated modular automotive components related to steering systems[44]. - The company plans to accelerate the development of steering technologies related to intelligent and autonomous driving[102]. - Future strategies include a cautious investment approach, slowing down new production line construction, and focusing on core business areas[102]. - The company will continue to focus on mergers and acquisitions to strengthen its position in the automotive parts industry[101]. Financial Management and Capital Structure - The company raised a total of RMB 705,172,000.00 from the non-public issuance of A-shares, with a net amount of RMB 660,046,164.00 after deducting underwriting fees[79]. - As of December 31, 2019, the company had utilized RMB 515,440,660.47 of the raised funds, with a net interest income of RMB 38,406,118.97 from bank deposits[81]. - The company temporarily supplemented working capital with RMB 170,000,000.00, leaving a balance of RMB 11,128,335.54 in the special account for raised funds as of December 31, 2019[82]. - The company's total loans and borrowings increased to ¥151,800,000.00, up from ¥29,080,000.00 at the end of 2018, indicating a significant increase in financing activities[74]. - The capital structure at the end of the reporting period showed a capital debt ratio of 2.62%, compared to -6.45% in 2018, reflecting a shift in financial leverage[76]. - The total amount of entrusted financial management reached RMB 20,601 million, with an outstanding balance of RMB 7,100 million[130]. Corporate Governance and Management - The actual controller of the company is Zhang Shiquan, who is also the chairman[150]. - The chairman, Zhang Shiquan, holds 26,391,580 shares, unchanged from the beginning of the period[153]. - There were no changes in the board of directors, supervisors, or senior management during the reporting period[154]. - The company has maintained a stable management structure with no personnel changes reported[154]. - The management team has extensive experience, with key members holding positions since 2004[155]. - The total pre-tax remuneration for the board of directors and senior management amounted to CNY 426.90 million[174]. - The company employed a total of 1,537 staff, with 1,001 in production, 380 in technical roles, and 48 in sales[175]. Compliance and Quality Assurance - The company has maintained a comprehensive quality assurance system, implementing IATF:16949 quality system certification[131]. - The company complies with all applicable laws and regulations regarding business registration, taxation, and product quality[186]. - The company has obtained ISO14001 environmental management system certification for its subsidiaries, indicating a commitment to environmental management[138]. - The company has achieved compliance with local environmental regulations, with wastewater and exhaust emissions meeting government standards in 2019[137]. Shareholder Information - The total number of shares outstanding is 789,644,637, with 97.49% being unrestricted shares[143]. - The largest shareholder, Zhejiang Sibao Holding Group Co., Ltd., holds 43.28% of the shares, while the second-largest shareholder, Hong Kong Central Clearing (Nominee) Limited, holds 27.49%[146]. - The company has a total of 37,556 common shareholders, with 10 shareholders holding more than 5% of the shares[146]. Miscellaneous - The company has not experienced any significant foreign currency risk during the reporting period, as sales and purchases were primarily in RMB[94]. - There were no major asset or equity sales during the reporting period[93]. - The company has not engaged in any major related party transactions during the reporting period[127]. - The company has not implemented any stock incentive plans or employee stock ownership plans during the reporting period[126]. - The company has not experienced any major accounting errors requiring retrospective restatement during the reporting period[121]. - The company has not made any changes to the scope of consolidated financial statements compared to the previous year[122]. - The company has not conducted any precise poverty alleviation work during the reporting year and has no subsequent plans[136]. - The company reported no convertible securities, options, warrants, or similar rights during the reporting period[193].

Financial Performance - Operating revenue for the reporting period was CNY 236,322,449.51, down 19.78% year-on-year, and cumulative revenue for the year-to-date was CNY 686,835,516.68, down 22.49%[7] - Net profit attributable to shareholders of the listed company was a loss of CNY 16,361,424.73, a decrease of 3,645.43% compared to the same period last year[7] - Basic and diluted earnings per share were both CNY -0.0208, a decrease of 3,566.67% year-on-year[7] - The company expects a net profit attributable to shareholders for 2019 to be between -¥15,000,000 and -¥10,000,000, a significant decline compared to a profit of ¥727,840 in 2018[28] - The decline in performance is attributed to poor automotive industry performance, leading to decreased revenue and increased bad debt risks due to deteriorating customer operations[28] - Net profit for Q3 2019 was a loss of ¥18,986,475.29, compared to a profit of ¥288,315.52 in Q3 2018, indicating a significant decline[53] - The company reported a basic and diluted earnings per share of -0.0208 for Q3 2019, compared to 0.0006 in Q3 2018[53] - The company's basic and diluted earnings per share are both -0.0441, worsening from -0.0068 in the previous period[63] - The net profit attributable to the parent company is -34,789,543.94, compared to -5,395,018.74 in the previous period, reflecting a significant increase in losses[63] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,963,877,379.45, a decrease of 3.97% compared to the end of the previous year[7] - The company’s inventory at the end of the reporting period was CNY 288,339,859.21, accounting for 14.68% of total assets[14] - The company’s fixed assets increased to CNY 682,345,444.53, representing 34.74% of total assets, an increase of 3.04% compared to the previous year[14] - Current assets decreased from ¥1,124,039,331.72 at the end of 2018 to ¥1,006,680,563.52 as of September 30, 2019[40] - Accounts receivable decreased from ¥468,614,553.04 at the end of 2018 to ¥395,759,436.92 as of September 30, 2019[40] - The total equity attributable to shareholders was ¥1,443,757,138.87, down from ¥1,478,546,682.81, a decrease of 2.4%[44] - Current liabilities decreased to ¥457,619,071.43 from ¥490,134,020.00 year-over-year, a reduction of 6.6%[44] Cash Flow - The net cash flow from operating activities was CNY 21,397,736.69, an increase of 308.55% compared to the same period last year[7] - Operating cash flow net amount increased by 300.52% year-on-year, reaching ¥14,254,463.95, primarily due to reduced material procurement payments and lower employee compensation costs[20] - Financing cash flow net amount increased by 133.35% year-on-year, totaling ¥40,288,311.33, primarily driven by increased bank borrowings[20] - The net increase in cash and cash equivalents improved by 55.49% year-on-year, amounting to -¥7,930,316.56[20] - Total cash inflow from operating activities decreased to ¥485,779,401.43 from ¥511,083,181.74 in the previous period, reflecting a decline of approximately 4.9%[72] - Cash outflow from operating activities also decreased to ¥471,524,937.48 from ¥518,192,001.04, indicating a reduction of about 9%[72] - Investment cash flow net amount for the current period is -¥62,693,882.45, worsening from -¥27,978,688.59 in the previous period[72] - Total cash inflow from investment activities dropped to ¥136,545,058.98 from ¥310,360,503.37, a decline of approximately 56%[72] - Cash and cash equivalents at the end of the period decreased to ¥112,362,868.41 from ¥142,608,580.24, a reduction of approximately 21%[72] Operating Costs and Expenses - Total operating costs for Q3 2019 were ¥258,808,308.53, down from ¥299,507,977.72 in Q3 2018, reflecting a reduction of 13.6%[53] - Research and development expenses for Q3 2019 were ¥13,460,452.95, down 22.4% from ¥17,419,220.51 in Q3 2018[53] - The total operating costs for the current period are 10,700,115.85, up from 8,198,908.98 in the previous period, reflecting an increase of approximately 30.6%[58] - Research and development expenses decreased to 911,168.84 from 1,559,904.74, a reduction of about 41.4%[58] - The company reported a financial expense of -701,875.25, an improvement from -984,828.77 in the previous period, indicating better financial management[58] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 37,698, with the largest shareholder holding 43.28% of the shares[11]