Financial Performance - Operating revenue for the reporting period was CNY 57,713,528.18, down 47.34% year-on-year, and CNY 122,002,375.47 for the year-to-date, down 55.96% compared to the same period last year[8] - Net profit attributable to shareholders was CNY 5,405,762.95, a decrease of 51.24% year-on-year, with a year-to-date loss of CNY 8,046,101.18, down 151.23%[8] - Basic earnings per share were CNY 0.0430, down 51.08% year-on-year, with diluted earnings per share also at CNY 0.0430[8] - The company's operating revenue for Q3 2020 was CNY 122,002,375.47, a decrease of 55.96% compared to CNY 277,017,226.06 in the same period last year[18] - The company reported a total profit for the year-to-date period of CNY -1,891,266.57, compared to CNY 11,408,689.56 in the same period last year[53] - The net profit for Q3 2020 was CNY 635,187.28, a significant decline from CNY 26,210,801.42 in Q3 2019[50] - The total profit for Q3 2020 was CNY -2,054,078.87, compared to a profit of CNY 29,285,544.69 in the previous year[50] Cash Flow - The net cash flow from operating activities was CNY 24,987,814.39, an increase of 683.29% year-on-year, and CNY 57,304,489.49 for the year-to-date, up 205.82%[8] - The net cash flow from operating activities for Q3 2020 was ¥57,304,489.49, a significant improvement compared to a net outflow of ¥54,154,735.14 in Q3 2019[58] - Total cash inflow from operating activities was ¥256,091,983.86, while cash outflow was ¥198,787,494.37, resulting in a net cash flow of ¥57,304,489.49[58] - Cash inflow from investment activities was ¥101,621,300.34, while cash outflow was ¥114,011,884.44, leading to a net cash outflow of ¥12,390,584.10[59] - The company’s cash flow from financing activities was negatively impacted by a significant increase in debt repayment, which totaled ¥56,431,170.86 in Q3 2020[62] Assets and Liabilities - Total assets at the end of the reporting period were CNY 643,486,999.60, a decrease of 12.98% compared to the end of the previous year[8] - The company's accounts receivable decreased by 42.54% to CNY 118,917,475.82 from CNY 206,960,334.14, primarily due to reduced revenue caused by the pandemic[18] - The company's total liabilities decreased to CNY 139,546,205.05 from CNY 223,815,319.88, representing a reduction of about 37.6%[34] - The company's total equity decreased to CNY 503,940,794.55 from CNY 515,647,568.89, reflecting a decrease of approximately 2.7%[35] - Short-term borrowings decreased significantly to CNY 18,000,000.00 from CNY 55,507,360.41, a reduction of about 67.6%[38] Shareholder Information - The total number of shareholders at the end of the reporting period was 7,132[12] - The largest shareholder, Xia Qing, held 23.99% of the shares, with 22,725,000 shares pledged[12] Government Subsidies and Other Income - Non-recurring gains and losses amounted to CNY 6,384,680.66, primarily from asset disposal gains and government subsidies[10] - The company received government subsidies amounting to CNY 1.5 million during the reporting period[20] - The company recorded a significant increase in other income by 182.06% to CNY 7,051,126.24, primarily due to increased government subsidies compared to the previous year[18] Investment and Expenses - The company’s investment income was CNY -422,357.73, reflecting a loss due to the impact of the pandemic on joint ventures[18] - Research and development expenses for the third quarter were CNY 4,429,473.36, slightly down from CNY 4,524,873.64 year-over-year[41] - The company reported a financial expense of CNY -2,581,177.10 for the third quarter, compared to CNY 1,838,715.44 in the previous period, indicating a significant improvement[41] Share Buyback and Fund Usage - As of January 10, 2020, the company completed a share buyback of 678,800 shares, accounting for 0.5374% of the total share capital, with a total expenditure of approximately CNY 9.997 million[20] - The company reported a total of CNY 195,200 in actual use of raised funds during the year, with cumulative usage amounting to CNY 144.0787 million[24] Other Financial Metrics - The weighted average return on net assets was 1.27%, a decrease of 1.34% compared to the previous year[8] - The company has no overdue external guarantees or non-operating fund occupation by controlling shareholders during the reporting period[26][27] - The company has engaged in wealth management with a total investment of CNY 47.8 million in bank financial products, with no overdue amounts reported[26]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥64,288,847.29, a decrease of 61.60% compared to ¥167,430,920.77 in the same period last year[16]. - The net profit attributable to shareholders of the listed company was a loss of ¥13,451,864.13, a decline of 391.18% from a profit of ¥4,619,703.26 in the previous year[16]. - The basic and diluted earnings per share were both -¥0.1071, a decrease of 392.62% from ¥0.0366 in the same period last year[16]. - The company's revenue for the reporting period was ¥64,288,847.29, a decrease of 61.60% compared to ¥167,430,920.77 in the same period last year, primarily due to the impact of COVID-19 on domestic events[50]. - The net profit attributable to shareholders was a loss of ¥13,451,864.13, representing a decline of 391.18% year-on-year[50]. - The company's revenue in the sports industry was 64,288,847.29, a decrease of 61.60% compared to the previous year, with a gross margin of 14.81%, down 10.13% year-on-year[56]. - The racetrack operations generated revenue of 16,657,863.33, down 47.85% year-on-year, while event operations saw a revenue drop of 66.29% to 29,086,752.00[57]. - The company reported a net loss of approximately 3.68 million yuan in the first half of 2020, compared to a loss of 3.01 million yuan in the same period of 2019[87]. - The total comprehensive income for the first half of 2020 was a loss of CNY 8,204,019.85, compared to a profit of CNY 13,643,294.17 in the first half of 2019[162]. Cash Flow and Assets - The net cash flow from operating activities improved to ¥32,316,675.10, compared to a negative cash flow of ¥57,344,862.30 in the same period last year, representing a 156.35% increase[16]. - The company's total assets at the end of the reporting period were ¥657,536,465.40, down 11.08% from ¥739,462,888.77 at the end of the previous year[16]. - The company's current assets totaled RMB 347,889,972.81, down from RMB 437,184,603.71 at the end of 2019, indicating a decrease of about 20.3%[152]. - Cash and cash equivalents increased to RMB 128,693,244.75 from RMB 124,098,580.07, reflecting a growth of approximately 3.4%[151]. - Accounts receivable decreased significantly from RMB 206,960,334.14 to RMB 121,310,098.43, a reduction of around 41.4%[151]. - The company reported cash inflow from investment activities of ¥2,357,860.00, a decrease from ¥7,045,808.34 in the previous year[173]. Operational Impact of COVID-19 - Due to the COVID-19 pandemic, all domestic events were suspended, impacting the operations of the racing teams and automotive promotional activities[25]. - The company operates several key racing events, including the FIA Asian Formula 3 Championship and the China Touring Car Championship, with all events in 2020 expected to be postponed to the second half of the year due to the pandemic[25][26]. - The company's racing team operations are significantly impacted by the distribution of race events, with all planned events postponed to the second half of the year due to the pandemic[39]. - The automotive event promotion business has been severely affected by the pandemic, leading to cancellations of promotional activities by automotive manufacturers[40]. Business Strategy and Development - The company plans to expand its "Saka Alliance" brand to create a network of karting venues across China, similar to Starbucks, to increase consumer participation in motorsports[47]. - The company is focused on expanding its service offerings in the automotive sports industry, including training and equipment sales[24]. - The company aims to enhance its market presence through strategic operations in the racing culture sector[185]. - The company is actively exploring and nurturing the motorsport industry, which is still in its early stages in China, aiming to improve profitability in this niche market[79]. Risk Management - The company faces various risk factors and has outlined countermeasures in its report, emphasizing the importance of investor awareness of these risks[5]. - The company emphasizes enhancing customer satisfaction through professional event operation services to retain commercial promotion rights[89]. - The company plans to strengthen management and maintenance of facilities to minimize the risk of losing FIA certification[90]. - The shortage of high-quality talent in the industry poses a significant risk to the company's development, particularly in new business segments[90]. Shareholder and Equity Information - The company does not plan to distribute cash dividends or issue bonus shares for the first half of 2020[97]. - The total number of shares before the change was 126,320,000, with 51.55% being restricted shares, which decreased to 24.42% after the change[129]. - The total number of restricted shares held by major shareholders decreased significantly, with 夏青's shares reducing from 30,300,000 to 22,725,000[132]. - The total number of shareholders at the end of the reporting period was 6,829, indicating a stable shareholder base[134]. Research and Development - The company reduced its R&D expenditure to ¥5,727,518.46, down 21.61% from ¥7,306,672.57, due to the pandemic's impact on revenue[52]. - The company has allocated 300 million CNY for research and development in new technologies related to automotive safety and performance[86]. Compliance and Governance - The financial statements are prepared on a going concern basis, with no significant doubts regarding the company's ability to continue operations for the next 12 months[188]. - The company adheres to accounting policies for accounts receivable, fixed asset depreciation, intangible asset amortization, and revenue recognition[190]. - The financial statements comply with the requirements of the enterprise accounting standards, accurately reflecting the company's financial position, operating results, and cash flows[191].

Financial Performance - The company's operating revenue for 2019 was ¥440,135,434.52, representing a 17.34% increase compared to ¥375,091,438.02 in 2018[6]. - The net profit attributable to shareholders for 2019 was ¥24,525,755.97, a decrease of 36.00% from ¥38,322,414.87 in 2018[6]. - The net cash flow from operating activities significantly increased to ¥79,354,951.65, up 1,279.65% from ¥5,751,832.70 in 2018[6]. - Total assets at the end of 2019 reached ¥739,462,888.77, a 25.75% increase from ¥588,048,942.25 in 2018[6]. - The net assets attributable to shareholders increased by 2.67% to ¥439,603,638.56 from ¥428,155,025.82 in 2018[6]. - The basic earnings per share for 2019 was ¥0.19, down 36.67% from ¥0.30 in 2018[6]. - The company reported a weighted average return on equity of 5.66%, a decrease of 3.61% from 9.27% in 2018[6]. - The overall gross margin was 28.80%, an increase of 0.11% year-on-year[57]. - The event operation business generated revenue of 247,559,544.98 yuan, a significant year-on-year increase of 177.92%, accounting for 56.25% of total revenue[57]. - The karting sales business reported revenue of 13,194,124.58 yuan, a year-on-year increase of 259.70%[59]. - The racetrack operation business generated revenue of 74,672,215.48 yuan, a year-on-year decrease of 10.87%[58]. - The automotive event promotion business saw revenue decline to 51,925,043.34 yuan, down 60.56% year-on-year[59]. Shareholder Returns - The company repurchased a total of 678,800 shares for a total amount of RMB 9,997,164, which is considered as cash dividends for the year[4]. - The company plans not to distribute cash dividends, issue bonus shares, or convert reserves into share capital for the year[5]. - The total cash dividend amount for 2019 was 9,997,164.00 CNY, which accounted for 100% of the total profit distribution[136]. - The cash dividend amount in 2018 was 3,789,600.00 CNY, representing 9.89% of the net profit attributable to ordinary shareholders[135]. - The company has a cash dividend policy that mandates at least 10% of the distributable profit to be paid as cash dividends annually, ensuring returns to shareholders[132]. - The company did not propose a cash dividend distribution plan for 2019 despite having a positive profit available for distribution to ordinary shareholders[135]. Business Expansion and Acquisitions - The company has adjusted its business scope to include sports facility construction and management, event planning, and various technology services[16]. - In 2019, the company completed the acquisition of 51% stakes in TOP SPEED (SHANGHAI) LIMITED and Shanghai Qingsu Events Planning Co., expanding its event service model[34]. - The company completed the acquisition of 51% stakes in TOP SPEED (SHANGHAI) LIMITED and Shanghai Qingsu Event Planning Co., Ltd., enhancing its involvement in international motorsport events[50]. - The company established Wuhan Lisheng Weijiu Sports Culture Co., Ltd. to expand its karting alliance business and increase market share[111]. - The company is actively seeking quality upstream and downstream resources for investment and acquisition to accelerate growth[121]. - The company is focusing on expanding its karting business through the establishment of karting venues, aiming to create a "Starbucks" model for karting facilities nationwide[52]. Market and Industry Trends - In 2019, China's automotive production and sales reached 25.72 million and 25.77 million units, respectively, maintaining its position as the world's largest automotive market for eleven consecutive years[42]. - The automotive modification market in China exceeded 160 billion yuan in 2018, growing at over 30% annually, indicating significant potential for future growth[44]. - The government aims for the sports industry to exceed 5 trillion yuan by 2025, highlighting the importance of motorsports in driving consumer engagement[44]. - The company anticipates continued growth in the automotive aftermarket, projected to reach approximately 2.3 trillion yuan by 2023[44]. - The Chinese automotive market is still in a growth phase, providing significant opportunities for the company's development in motorsport[114]. Risk Management - The company is exposed to risks from macroeconomic fluctuations that could impact its clients' marketing budgets and, consequently, its own operational performance[125]. - The company has implemented comprehensive safety measures and insurance to mitigate risks associated with racing accidents[127]. - The company recognizes the risk of talent shortages in the industry and is focused on enhancing internal management and employee engagement to attract and retain skilled personnel[125]. - The company faces risks related to the renewal of commercial promotion rights for major events, which could significantly impact its operating performance[123]. Strategic Initiatives - The company aims to leverage its racing events and facilities to promote motorsport culture and attract more participants and audiences in the future[27]. - The company plans to enhance existing event promotion efforts and introduce new events to diversify offerings and reduce dependency on specific events[107]. - The company intends to develop a driving instructor training system to enhance its core competitiveness in automotive activity promotion[116]. - The company is focusing on integrating racing technology into civilian vehicle development, targeting high-performance models and aftermarket modifications[116]. - The company aims to create a comprehensive APP that integrates social, informational, and transactional features to better serve C-end customers[116]. Financial Management - The company reported a net cash outflow from investing activities of -61,638,612.63 CNY, a decrease of 217.83% compared to the previous year[78]. - The company’s total cash and cash equivalents decreased by 151.74% to -49,454,586.44 CNY, influenced by acquisition payments and stock buybacks[79]. - The company’s cash and cash equivalents decreased by 12.62% to CNY 124,098,580.00, mainly due to cash acquisitions of TOP SPEED and Qingsu Racing[85]. - The company has implemented a new OA system to improve process management and budget control, enhancing overall operational efficiency[118]. Compliance and Governance - The company has a structured approach to managing control risks, ensuring the protection of minority shareholders' rights through regulatory compliance[130]. - The company has not encountered any significant changes in project feasibility or issues with the use of raised funds[103]. - The company has not reported any significant guarantees or entrusted loans during the reporting period[176][179]. - The company has not experienced any non-operating fund occupation by controlling shareholders or related parties during the reporting period[152]. Performance Commitments - The company committed to achieving a net profit of RMB 620 million, 840 million, 882 million, and 926 million for the years 2018 to 2021, respectively, after deducting non-recurring gains and losses[146]. - The first performance commitment for Jiangxi Saiki was set at RMB 1,460 million for the period from August 2018 to December 2019, while the second commitment was RMB 3,268 million for the period from August 2018 to December 2021[146]. - The performance commitments for Qingsu Events were set at RMB 600 million, 660 million, and 726 million for the years 2019 to 2021, with a cumulative commitment of RMB 1,986 million[149]. - The company plans to compensate for the shortfall in performance commitments by transferring 16% of Jiangxi Saiki's equity and cash compensation of RMB 256.80 million[149].

Financial Performance - The company's operating revenue for Q1 2020 was ¥32,693,130.21, a decrease of 45.38% compared to ¥59,859,309.52 in the same period last year[8] - The net profit attributable to shareholders was -¥2,621,810.76, an improvement of 34.74% from -¥4,017,669.71 year-on-year[8] - The basic earnings per share were -¥0.0208, reflecting a 34.29% improvement from -¥0.0320 in the same period last year[8] - The company reported a net profit margin decline, reflecting challenges in revenue generation during the quarter[40] - The net profit for Q1 2020 was CNY 1,087,087.24, compared to a net loss of CNY 1,177,703.44 in Q1 2019, indicating a significant turnaround[42] - The company's comprehensive income totalled CNY 2,713,686.32 in Q1 2020, compared to a loss of CNY 1,177,703.44 in the previous year[43] Cash Flow - The net cash flow from operating activities was ¥20,440,402.35, a significant increase of 144.69% compared to -¥45,735,904.01 in the previous year[8] - Cash flow from operating activities improved to ¥20,440,402.35, a turnaround from a negative cash flow of ¥45,735,904.01 in the previous period[16] - Total cash inflow from operating activities was ¥105,691,422.65, while cash outflow was ¥85,251,020.30, resulting in a net cash inflow[50] - The company reported a net cash outflow from investing activities of ¥37,306,735.04, compared to a larger outflow of ¥92,735,021.69 in the same period last year[50] - The company experienced a net cash outflow from financing activities of ¥3,634,982.40 in Q1 2020, compared to a net outflow of ¥2,606,970.23 in Q1 2019[51] Assets and Liabilities - Total assets at the end of the reporting period were ¥698,683,591.31, down 5.51% from ¥739,462,888.77 at the end of the previous year[8] - Total liabilities decreased to CNY 180,322,336.10 from CNY 223,815,319.88[34] - Current liabilities totaled CNY 148,513,602.30, a reduction from CNY 192,006,586.08[34] - Owner's equity totaled CNY 518,361,255.21, slightly up from CNY 515,647,568.89[35] - The company’s cash and cash equivalents decreased to ¥103,357,523.81 from ¥124,098,580.07[32] Shareholder Information - The total number of shareholders at the end of the reporting period was 7,785[12] - The largest shareholder, Xia Qing, holds 23.99% of the shares, amounting to 30,300,000 shares, with 22,725,000 shares pledged[12] Government Subsidies and Other Income - The company received government subsidies totaling ¥2,934,558.14 during the reporting period, compared to ¥1,250,000 in the same period last year[9] - Other income for the parent company was CNY 406,377.80, a decrease from CNY 1,250,000.00 in the previous period[44] Financial Expenses - The company reported a significant increase in financial expenses, rising by 277.97% to ¥2,733,958.68, mainly due to foreign exchange losses[16] - The company’s financial expenses for Q1 2020 were CNY 2,733,958.68, a notable increase from CNY 723,330.54 in the same period last year[41] Investments - The company has invested ¥1,800,000 in bank wealth management products, with an outstanding balance of ¥3,413,480[23] - The company’s deferred tax assets rose by 43.19% to ¥6,820,921.41, reflecting losses that led to deferred tax recognition[16] Other Financial Metrics - The weighted average return on net assets was -0.60%, an improvement from -0.94% in the previous year[8] - The company experienced a significant increase in credit impairment losses, amounting to CNY 4,343,016.70 compared to CNY 1,211,005.72 in the previous year[41]

Share Repurchase and Dividend Policy - The company repurchased a total of 678,800 shares for a total amount of RMB 9,997,164, which will be treated as cash dividends for the year[4]. - The company plans not to distribute cash dividends, issue bonus shares, or convert reserves into share capital[5]. - The company did not distribute cash dividends for 2019 due to share repurchases totaling approximately 9.99 million yuan[135]. - The total cash dividend amount (including other methods) for 2019 was CNY 9,997,164, which accounted for 100% of the total profit distribution[137]. - The company has a cash dividend policy that mandates at least 10% of the distributable profit to be distributed as cash dividends annually, barring significant capital expenditures[133]. Financial Performance - The company's operating revenue for 2019 was ¥440,135,434.52, representing a 17.34% increase compared to ¥375,091,438.02 in 2018[18]. - The net profit attributable to shareholders for 2019 was ¥24,525,755.97, a decrease of 36.00% from ¥38,322,414.87 in 2018[18]. - The basic earnings per share for 2019 was ¥0.19, down 36.67% from ¥0.30 in 2018[19]. - Total assets at the end of 2019 reached ¥739,462,888.77, a 25.75% increase from ¥588,048,942.25 at the end of 2018[19]. - The overall gross margin was 28.80%, an increase of 0.11% year-on-year[58]. Revenue Streams and Business Operations - The event operation business generated revenue of 247,559,544.98 yuan, a significant year-on-year increase of 177.92%, accounting for 56.25% of total revenue[59]. - The company operates as a leading automotive sports service provider in China, focusing on event operations and services, track management, and automotive sports technology development[27]. - The company operates multiple racing teams, including the SAIC Volkswagen 333 team, which has won numerous championships in various racing series, showcasing its competitive advantage in motorsport[30]. - The company is focusing on developing personal consumption products and team-building products to create new revenue growth points[59]. - The company is enhancing management efficiency through refined project management and integration of financial software systems[61]. Acquisitions and Strategic Partnerships - In 2019, the company completed the acquisition of 51% stakes in TOP SPEED (SHANGHAI) LIMITED and Shanghai Qingsu Event Planning Co., expanding its event service model, which focuses on high-level execution and service for client-owned event IPs[35]. - The company signed a strategic cooperation agreement with SAIC Motor Corporation's passenger car division to jointly establish the Xpower project department, which includes market marketing, automotive sports, and engineering development[30]. - The company aims to enhance its profitability by increasing sponsorship amounts for events, as the influence of these events grows while maintaining stable major cost expenditures[33]. Market and Industry Insights - In 2019, China's automobile production and sales reached 25.72 million and 25.77 million units, respectively, maintaining its position as the world's largest market for eleven consecutive years[44]. - The automotive modification market in China was valued at over 160 billion yuan in 2018, growing at an annual rate exceeding 30%[45]. - The government aims for the sports industry to exceed 5 trillion yuan by 2025, promoting the development of motorsport events[45]. - The company anticipates significant growth potential in the automotive aftermarket, projected to reach approximately 2.3 trillion yuan by 2023[45]. Risk Management and Compliance - The company emphasizes the importance of risk awareness regarding forward-looking statements in its reports[4]. - The company is exposed to risks from macroeconomic fluctuations that could impact its operations and financial performance[126]. - The company has contingency plans in place to address potential disruptions from unforeseen events, such as natural disasters or government restrictions[128]. - The company has implemented measures to reduce the risk of talent shortages by enhancing internal management and performance evaluation systems[126]. Corporate Governance and Shareholder Commitments - The company has fulfilled all commitments made by its actual controllers and shareholders during the reporting period[139]. - The company has a commitment to not transfer or sell shares held by its major shareholders for a period of 36 months from the date of listing[139]. - The company will implement a stock price stabilization plan if the stock price falls below the latest audited net asset value for 20 consecutive trading days within three years of listing[142]. - The company has committed to ensuring that any share reduction will not occur below the issue price, with adjustments made for dividends or capital increases[142]. Research and Development - The company plans to enhance its technological capabilities through various R&D projects, including the development of a CTCC event information dissemination platform and a business collaboration operating system[78]. - The company is focusing on R&D for various types of racing vehicles, including TCR, XRace, and ETCR electric racing cars, to serve a diverse customer base[117]. Community Engagement and Recognition - The company received the "Best Sports Listed Company" award at the 5th SportIN Sports Industry Conference in 2019[180]. - The company engaged in targeted poverty alleviation by purchasing CNY 200,000 worth of agricultural products and donating CNY 50,000 for cultural promotion[181].

Financial Performance - Operating revenue for the reporting period reached CNY 109,586,305.29, a year-on-year increase of 29.81%[7] - Net profit attributable to shareholders increased by 32.20% to CNY 11,085,832.21 for the reporting period[7] - The net profit after deducting non-recurring gains and losses rose by 57.76% to CNY 10,723,694.79[7] - Basic earnings per share increased by 32.58% to CNY 0.0879[7] - The weighted average return on equity improved to 2.56%, up by 0.47 percentage points from the previous year[7] - Total operating revenue for the current period reached ¥109,586,305.29, an increase of 29.8% compared to ¥84,421,551.52 in the previous period[36] - Total operating costs amounted to ¥90,075,113.17, up from ¥75,038,963.13, reflecting a growth of 20.0%[36] - Operating profit for the current period was ¥18,000,843.66, a significant increase of 93.5% from ¥9,322,205.30 in the previous period[37] - Net profit for the current period was ¥12,567,507.25, representing a 60.0% increase compared to ¥7,845,158.98 in the previous period[38] - The total profit for the current period was ¥17,854,936.40, compared to ¥9,368,504.74 in the previous period, indicating an increase of 90.5%[37] Assets and Liabilities - Total assets increased by 27.34% to CNY 748,849,149.97 compared to the end of the previous year[7] - Current liabilities rose to CNY 194,780,271.29, compared to CNY 129,095,266.32, marking an increase of about 50.9%[28] - Non-current assets totaled CNY 303,550,771.22, significantly up from CNY 164,757,057.44, reflecting an increase of approximately 84.4%[29] - Total liabilities increased to CNY 247,026,549.74 from CNY 133,204,708.13, an increase of about 85.5%[28] - The company's total equity rose to CNY 501,822,600.23 from CNY 454,844,234.12, reflecting an increase of approximately 10.3%[29] Cash Flow - The net cash flow from operating activities was CNY 3,190,127.16, a significant increase of 118.51%[7] - The company's cash and cash equivalents decreased to CNY 9,042,782.46 from CNY 127,891,185.46, a decline of about 92.9%[31] - Cash flow from operating activities was ¥290,357,513.68, compared to ¥206,334,894.48 in the previous period, indicating a strong cash generation capability[52] - The net cash flow from operating activities was -54,154,735.14 CNY, compared to -52,800,421.93 CNY in the previous period, indicating a slight deterioration in cash flow performance[53] - Total cash inflow from operating activities was 324,301,142.47 CNY, while cash outflow was 378,455,877.61 CNY, resulting in a net cash flow deficit[53] Shareholder Information - The total number of shareholders at the end of the reporting period was 11,317[11] - The largest shareholder, Xia Qing, holds 23.99% of the shares, amounting to 30,300,000 shares, with 30,300,000 shares pledged[11] Government Support and Subsidies - The company received government subsidies totaling CNY 2,542,802.03 during the reporting period[8] - Other income increased by 62.52% to ¥2,499,909.85 from ¥1,538,193.67, mainly due to increased government subsidies[16] Inventory and Receivables - Inventory increased by 67.30% to ¥60,851,645.38 from ¥36,373,125.33, driven by new business working capital usage and consolidation scope expansion[15] - Other receivables rose by 420.57% to ¥33,044,403.22 from ¥6,347,751.79, attributed to increased working capital and expanded consolidation scope[15] - Accounts receivable decreased to CNY 54,368,128.04 from CNY 76,909,369.05, a drop of approximately 29.4%[31] Research and Development - Research and development expenses increased to ¥4,524,873.64 from ¥3,513,877.86, marking a rise of 28.8%[36] - Research and development expenses were ¥11,831,546.21, up 8% from ¥10,953,956.79 in the previous period, indicating continued investment in innovation[43] Future Outlook and Strategy - Future outlook indicates a projected revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion strategies[69] - The company is investing in R&D for new technologies, with a budget allocation of 5 million for the upcoming year[69] - Market expansion efforts include entering two new regions, aiming for a 10% market share within the first year of operation[69] - The company is exploring potential acquisitions to enhance its service offerings, with a target of identifying at least three candidates by Q2 2020[69] - New product development is expected to contribute an additional 8 million in revenue by the end of the fiscal year[69] - Strategic partnerships are being formed to enhance brand visibility, with a goal of increasing customer reach by 25%[69] - The management emphasized a commitment to sustainability, aiming to reduce operational costs by 10% through eco-friendly practices[69]

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 167,430,920.77, representing a 14.24% increase compared to CNY 146,565,165.36 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was CNY 4,619,703.26, a significant increase of 114.31% from CNY 2,155,602.45 in the previous year[20]. - The net profit after deducting non-recurring gains and losses reached CNY 3,066,500.61, compared to a loss of CNY 716,075.65 in the same period last year, marking a 528.24% improvement[20]. - The basic earnings per share increased to CNY 0.0366, up 114.04% from CNY 0.0171 in the previous year[20]. - The total assets of the company at the end of the reporting period were CNY 709,043,160.97, reflecting a 20.58% increase from CNY 588,048,942.25 at the end of the previous year[20]. - The net assets attributable to shareholders of the listed company were CNY 423,986,586.15, showing a slight decrease of 0.97% from CNY 428,155,025.82 at the end of the previous year[20]. - The net cash flow from operating activities was negative at CNY -57,344,862.30, worsening by 61.22% compared to CNY -35,568,593.01 in the same period last year[20]. - The weighted average return on net assets was 1.07%, an increase of 0.54% compared to 0.53% in the previous year[20]. Revenue Sources - The company achieved event operation revenue of ¥86,296,953.14, a year-on-year increase of 325.20%, which accounted for 51.54% of total revenue, up from 13.85% in the same period last year[59]. - The company's revenue from racetrack operations is closely linked to the number of track usage days, with higher revenues expected in Q2, Q3, and Q4 compared to Q1 due to seasonal factors[40]. - The racing team revenue model primarily derives from manufacturer sponsorships, with the company’s factory team generating the majority of income, while club teams have limited impact on overall performance[41]. - The automotive event promotion business is characterized by significant seasonality, with most revenue recognized in Q4 after project completion[43]. - The company’s total revenue for the racing event segment increased by 325.20% year-on-year, reaching ¥86,296,953.14, with a gross margin of 23.41%[67]. Investments and Acquisitions - The company completed the acquisition of 51% of Jiangxi Saiji Sports Equipment Manufacturing Co., enhancing its competitive edge in the karting sector[50]. - The company completed the acquisition of 51% stakes in TOP SPEED (SHANGHAI) LIMITED and Shanghai Qingsu Event Planning Co., Ltd., enhancing its involvement in international motorsport events and establishing partnerships with luxury car brands like Ferrari and Lamborghini[51]. - The company reported a total investment of ¥166,574,032.50 during the period, a staggering increase of 2,630.72% compared to the previous year[75]. - The company plans to use CNY 66 million from the remaining funds for acquiring 51% of Top Speed (Shanghai) Limited, with a transaction price of HKD 155.55 million[85]. Operational Challenges - The company faces risks related to the inability to extend commercial promotion rights for major events, which could significantly impact operational performance[99]. - The company is exposed to risks from macroeconomic fluctuations that could affect the marketing budgets of its clients in the automotive industry[101]. - The company has a significant risk of talent shortages, particularly in new business segments, due to a lack of qualified professionals in the domestic market[101]. - The company has established contingency plans to address potential income loss due to unforeseen events or natural disasters[103]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares for the half-year period[107]. - The first employee stock ownership plan, which holds 1,877,600 shares (approximately 1.49% of total shares), is set to expire on August 27, 2019[114]. - The employee stock ownership plan was extended until August 27, 2020, based on confidence in the company's future development[115]. - The largest shareholder, Xia Qing, holds 30,300,000 shares, representing 23.99% of the total shares[138]. Regulatory Compliance - The company has complied with environmental regulations and has not faced any environmental pollution incidents[126]. - There were no major litigation or arbitration matters during the reporting period[111]. - The company has not experienced any penalties or rectification situations during the reporting period[112]. Market Position and Strategy - The company operates a full industry chain service in motorsport, including event operations, training, and sales of racing equipment[28]. - The company is recognized as a leading motorsport operator in China, focusing on both professional and amateur racing events[28]. - The company aims to enhance its revenue through increased sponsorship amounts as the influence of its events grows, despite stable major cost expenditures[37]. - The company plans to enhance market expansion while diversifying its business types and methods to reduce seasonal revenue fluctuations[102].

Financial Performance - The company's operating revenue for Q1 2019 was ¥59,859,309.52, representing a 48.46% increase compared to ¥40,321,431.87 in the same period last year[8] - The net profit attributable to shareholders was -¥4,017,669.71, an improvement of 18.98% from -¥4,958,975.97 year-on-year[8] - The basic earnings per share improved by 59.49% to -¥0.032 from -¥0.079 in the same period last year[8] - The company reported a net cash outflow from operating activities of ¥45,735,904.01, worsening by 29.74% compared to the previous period[18] - The company reported a significant decrease in investment income by 73.11% to ¥333,813.88 from ¥1,241,623.61 due to reduced purchases of bank wealth management products[17] - The company reported a total profit (loss) for the period was a loss of ¥3,151,692.23, an improvement from a loss of ¥6,013,834.91 in the previous period, indicating a reduction in losses by about 47.5%[38] - Net profit for the period was a loss of ¥1,177,703.44, improving from a loss of ¥4,656,304.52 in the previous period, indicating a reduction in losses by approximately 74.8%[38] Assets and Liabilities - The total assets at the end of the reporting period were ¥672,286,403.25, an increase of 14.32% from ¥588,048,942.25 at the end of the previous year[8] - The net assets attributable to shareholders decreased by 2.11% to ¥419,138,282.91 from ¥428,155,025.82 at the end of the previous year[8] - Long-term payables increased by 906.88% to ¥41,377,197.14 from ¥4,109,441.81 due to new unpaid equity transfer payments for TopSpeed[17] - The company's total liabilities reached CNY 194,868,749.96, up from CNY 133,204,708.13, marking a growth of around 46.1%[29] - Current liabilities rose to CNY 153,491,552.82 from CNY 129,095,266.32, reflecting an increase of approximately 18.9%[29] - Owner's equity totaled CNY 477,417,653.29, compared to CNY 454,844,234.12, showing an increase of about 4.9%[30] Cash Flow - Cash and cash equivalents decreased by 46.24% to ¥92,953,750.23 from ¥172,893,871.35 due to payments for TopSpeed equity transfer[17] - Cash flow from operating activities was ¥108,913,562.45, significantly up from ¥54,178,732.89, marking an increase of approximately 100.7% year-over-year[45] - The company reported a net cash increase of negative CNY 141,077,895.93 for the period, compared to negative CNY 28,278,763.29 in the previous year[47] - Total cash outflow from financing activities was CNY 5,606,970.23, resulting in a net cash flow from financing activities of negative CNY 2,606,970.23[51] - Cash and cash equivalents at the end of the period were CNY 87,953,750.23, down from CNY 229,031,646.16 at the beginning of the period, reflecting a decrease of 61.6%[47] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 8,442[12] - The largest shareholder, Xia Qing, holds 23.99% of the shares, amounting to 30,300,000 shares, with 23,400,000 shares pledged[12] - The company repurchased 342,600 shares, accounting for 0.2712% of total share capital, at a total cost of ¥4,997,563[20] Acquisitions and Investments - The company completed the acquisition of 51% of TopSpeed and 51% of Shanghai Qingsu Event Planning Co., Ltd[19] - Other receivables increased by 549.17% to ¥41,207,650.52 from ¥6,347,751.79 primarily due to the consolidation of TopSpeed customs deposits[17] - Long-term equity investments rose to CNY 162,309,195.48 from CNY 74,699,639.98, indicating a growth of about 117.0%[33] Government Support - The company received government subsidies amounting to ¥1,250,020.97 during the reporting period[9] Research and Development - Research and development expenses were ¥2,860,401.64, slightly up from ¥2,699,277.40, indicating continued investment in innovation[36]

Financial Performance - The company's operating revenue for 2018 was ¥375,091,438.02, representing a 32.87% increase compared to ¥282,301,271.80 in 2017[6]. - The net profit attributable to shareholders for 2018 was ¥38,322,414.87, a decrease of 5.93% from ¥40,736,606.93 in 2017[6]. - The net cash flow from operating activities for 2018 was ¥5,751,832.70, down 78.51% from ¥26,770,919.15 in 2017[6]. - The basic earnings per share for 2018 was ¥0.30, a decline of 11.76% compared to ¥0.34 in 2017[6]. - Total assets at the end of 2018 were ¥588,048,942.25, an increase of 23.19% from ¥477,367,562.88 at the end of 2017[17]. - The net assets attributable to shareholders at the end of 2018 were ¥428,155,025.82, up 6.38% from ¥402,464,610.95 at the end of 2017[17]. - The overall gross margin was 28.69%, down 6.75% compared to the previous year[53]. - The company achieved a total revenue of ¥375,091,438.02, representing a year-on-year growth of 32.87%[53]. - The net profit attributable to shareholders decreased by 5.93% to ¥38,322,414.87, with earnings per share dropping by 11.76% to ¥0.30[53]. Dividend Policy - The company plans to distribute a cash dividend of RMB 0.30 per 10 shares, totaling RMB 3,789,600.00, based on a total share capital of 126,320,000 shares[4]. - The cash dividend for 2017 was 12,632,000 CNY, which represented 31.01% of the net profit attributable to shareholders[125]. - The company has a policy to distribute at least 10% of the annual distributable profit as cash dividends, with a cumulative minimum of 30% over three years[120]. - The company reported a distributable profit of 35,011,767.48 CNY for 2018, with cash dividends accounting for 100% of the profit distribution[125]. - The cash dividend for 2018 represents 9.89% of the net profit attributable to shareholders[125]. - The company has committed to a stable dividend policy to protect the rights of minority shareholders[120]. Business Operations - The company operates a variety of motorsport events, including the WTCR, CTCC, and TCR China, with a total of 8 events held in 2018 for CTCC and 5 events for TCR China[27]. - The company hosted 21 events for the Lisheng Super Track Festival in 2018, expanding its reach to various regions[29]. - The company organized 8 events for the China Karting Championship in 2018, emphasizing youth engagement in motorsport[28]. - The company’s motorsport events are recognized for their investment potential, with CTCC being awarded "2018 Most Investable Event" by Sports BANK[27]. - The company operates multiple national-level racing events, including the CTCC and CKC, which have been running for 10 and 8 years respectively, contributing to its strong market influence[48]. Acquisitions and Investments - The company completed the acquisition of 51% of Jiangxi Saiki Sports Equipment Manufacturing Co., enhancing its competitive edge in the karting sector[46]. - The company plans to use ¥6,600 million of the remaining funds for the acquisition of 51% of Top Speed (Shanghai) Limited, with a transaction price of HKD 15,555 million[88]. - The company completed the acquisition of 51% stakes in TOP SPEED (SHANGHAI) LIMITED and Shanghai Qingsu Event Planning Co., Ltd. in January and March 2019, respectively[104]. - The company has committed a total investment of CNY 13,736.6 million for various projects, with CNY 7,136.6 million allocated for the current reporting period[90]. Market Trends and Growth Potential - The automotive modification market in China reached a value of over 160 billion RMB in 2018, growing at an annual rate of over 30%[44]. - The karting modification market in China is still in its infancy, with only 5% of vehicles modified compared to 80% in developed countries, indicating substantial growth potential[44]. - The total number of small passenger vehicles in China surpassed 200 million in 2018, indicating a growing automotive market[44]. Financial Management - The company reported a significant increase in cash and cash equivalents, rising by 123.60% compared to the previous year, primarily due to the reclassification of structured deposits as bank deposits[45]. - The company's accounts receivable increased by 49.48% year-over-year, reflecting a rise in sales revenue[45]. - The company’s cash and cash equivalents increased by 598.88% to ¥95,573,968.72, attributed to the reclassification of structured deposits[73]. - The company has invested a total of 9,175 million in bank wealth management products, with no overdue amounts reported[154]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements and future plans, indicating potential discrepancies between plans, forecasts, and commitments[4]. - The company faces risks related to the inability to extend commercial promotion rights for major events, which could significantly impact its operating performance[107]. - The company has a high reliance on the automotive industry, making it vulnerable to macroeconomic fluctuations that could affect marketing budgets[111]. - The company is focused on improving employee retention and attracting talent to mitigate the risk of talent shortages[110]. Corporate Governance - The company has not reported any changes in its main business since its listing, nor any changes in its controlling shareholders[15]. - The company has fulfilled its commitments regarding shareholding restrictions as of March 24, 2017, indicating compliance with regulatory requirements[127]. - The company has established a clear strategy for managing its shareholding structure post-listing, aimed at enhancing market confidence[127]. Future Outlook - The company provided guidance for the next fiscal year, projecting a revenue growth of 10% to 1.32 billion RMB[198]. - Future outlook remains positive, with expectations of continued revenue growth and market expansion in the racing culture industry[190].

上海力盛赛车文化股份有限公司 2018 年第三季度报告正文 证券代码：002858 证券简称：力盛赛车 公告编号：2018-064 上海力盛赛车文化股份有限公司 2018 年第三季度报告正文 1 上海力盛赛车文化股份有限公司 2018 年第三季度报告正文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人夏青、主管会计工作负责人夏青及会计机构负责人(会计主管人 员)汪红霞声明：保证季度报告中财务报表的真实、准确、完整。 2 上海力盛赛车文化股份有限公司 2018 年第三季度报告正文 第二节 公司基本情况 一、主要会计数据和财务指标 | 项目 | 年初至报告期期末金额 说明 | | --- | --- | | 非流动资产处置损益（包括已计提资产减值准备的冲销部分） | 438,682.11 固定资产处置利得 | | 计入当期损益的政府补助（与企业业务密切相关，按照国家统 一标准定额或定量享受的政府补助除外） | 1,648,033.75 ...