Financial Performance - The company reported a total revenue of 3.77 billion RMB for the year 2018, marking a year-on-year increase of 15%[13]. - The company's operating revenue for 2018 was ¥2,877,999,476.24, representing an increase of 11.54% compared to ¥2,580,295,132.27 in 2017[18]. - The net profit attributable to shareholders for 2018 was ¥64,675,615.63, a 6.24% increase from ¥60,876,451.18 in 2017[18]. - The net profit after deducting non-recurring gains and losses was ¥39,583,895.02, which is a significant increase of 29.31% from ¥30,610,771.33 in 2017[18]. - The net cash flow from operating activities reached ¥358,486,659.92, a remarkable increase of 298.68% compared to -¥180,431,259.89 in 2017[18]. - The total assets at the end of 2018 were ¥4,085,820,078.38, reflecting a growth of 7.27% from ¥3,808,946,414.91 at the end of 2017[18]. - The company's basic earnings per share for 2018 was ¥0.17, up 6.25% from ¥0.16 in 2017[18]. - The weighted average return on equity for 2018 was 6.88%, down from 7.69% in 2017[18]. - The company reported a total of 768,497,700.67 yuan in restricted assets, primarily due to bank loans and guarantees[62]. Profit Distribution - The profit distribution plan approved by the board proposes a cash dividend of 0.18 RMB per 10 shares, based on a total of 376,550,000 shares[4]. - The cash dividend for 2018 represents 10.48% of the consolidated net profit attributable to the listed company's ordinary shareholders[102]. - The total distributable profit for the year was RMB 318,988,444.89, with the cash dividend accounting for 100% of the profit distribution[103]. - The cash dividend for 2017 was RMB 19,935,000.00, representing 32.75% of the net profit attributable to ordinary shareholders[102]. - The company did not propose any stock dividends or capital reserve transfers for the 2018 profit distribution[103]. Market Strategy and Expansion - The company is focusing on expanding its market presence, particularly in the OEM and AM markets, to enhance its competitive edge[10]. - The company is actively exploring potential mergers and acquisitions to further enhance its market position[10]. - The company continues to focus on enhancing R&D capabilities and optimizing market layout to drive revenue growth[28]. - The company is focusing on the development of new technologies and products in the automotive parts sector[66]. - The company plans to expand its production capacity by investing in a new project in Thailand, aiming for an annual output of 3 million aluminum alloy wheels to mitigate risks from trade barriers[89]. Research and Development - The company holds a total of 220 patents, including 17 invention patents, 77 utility model patents, and 126 design patents, with several more patents pending[31]. - Research and development expenses increased by 11.44% to ¥86,460,845.89 compared to ¥77,588,082.04 in 2017[50]. - The number of R&D personnel increased by 19.79% to 345 in 2018, while the proportion of R&D personnel to total employees decreased to 7.85% from 8.99%[53]. - The company is developing a non-electroplated alloy surface coating with performance targets including a neutral salt spray resistance of no less than 500 hours[51]. - The company aims to establish a pilot production line for anti-corrosion coatings with a capacity of 100 tons per year and a demonstration production line for wheel hub coating[51]. Operational Risks and Management - Future operational risks have been identified, and the company has outlined strategies to mitigate these risks in its business outlook section[4]. - The board emphasizes the importance of risk awareness among investors regarding forward-looking statements in the report[4]. - The company maintains a strong commitment to transparency and accuracy in its financial reporting, as stated by its management[4]. - The company emphasizes lean production and continuous improvement to enhance its management capabilities and maintain its leading position in the industry[36]. Financial Structure and Investments - The company successfully completed the issuance of convertible bonds, raising a total of CNY 368 million to improve its capital structure and reduce financial costs[37]. - The company reported a significant increase in export sales to India, with aluminum wheel exports reaching USD 10.71 million in 2018, accounting for 2.50% of total revenue[88]. - The company temporarily used RMB 12,000.00 million of idle raised funds to supplement working capital, with RMB 10,700 million repaid by the end of 2018, leaving RMB 1,300 million outstanding[77]. - The company has not disclosed any financial assets measured at fair value, indicating a focus on tangible investments[70]. Compliance and Governance - The company has established a quality management system to ensure product safety and customer satisfaction, thereby protecting the interests of suppliers, customers, and consumers[139]. - The company has maintained compliance with social insurance and housing fund obligations as per its commitments[107]. - The company has established a transparent and independent governance structure, with no significant discrepancies from regulatory requirements[187]. - The company has fulfilled all major commitments made by its controlling shareholders and management[107]. Shareholder Information - The company experienced a significant change in shareholding, with 41,500,000 shares released from restrictions in April 2018, impacting the overall share structure[148]. - The total number of shares increased to 376,550,000, with limited conditions on 190,767,200 shares, representing 50.66% of the total[148]. - The company’s registered capital increased from 22,150,000 yuan to 37,655,000 yuan following the share conversion[150]. - The company’s earnings per share and net asset per share will be diluted year-on-year due to the increase in share capital[150]. Employee and Management Structure - The total number of employees in the company is 4,396, with 1,084 in the parent company and 3,312 in major subsidiaries[180]. - The company has established a performance-based compensation mechanism for directors and senior management[178]. - The management team includes experienced professionals with backgrounds in engineering and finance, enhancing operational efficiency[171]. - The company has a professional composition of 3,384 production personnel, 76 sales personnel, 345 technical personnel, 60 financial personnel, and 531 administrative personnel[180]. Environmental and Social Responsibility - Environmental protection measures are implemented, including compliance with ISO14001 standards, and the company has successfully managed waste emissions within legal limits[142]. - The company actively engages in social responsibility initiatives, contributing to local economic development and creating numerous job opportunities[140]. - The company has established emergency response plans for environmental incidents, ensuring preparedness for potential environmental challenges[143].

Financial Performance - Operating revenue for the period reached CNY 685,305,953.03, representing a year-on-year growth of 21.43%[8] - Net profit attributable to shareholders increased by 245.50% to CNY 20,669,851.71 for the quarter[8] - The net profit after deducting non-recurring gains and losses rose by 202.01% to CNY 12,605,942.97[8] - Cash flow from operating activities surged by 242.85% to CNY 59,928,884.09[8] - Basic earnings per share increased by 150.00% to CNY 0.05[8] - The weighted average return on net assets was 2.22%, a decrease of 3.62% compared to the previous year[8] - Financial expenses increased by 34.79% compared to the same period last year, mainly due to rising financing costs[16] - Investment income increased by 91.51% compared to the same period last year, primarily due to option income[16] - Other cash received related to operating activities increased by 163.76% compared to the same period last year, mainly due to increased government subsidies related to company income[16] Assets and Liabilities - Total assets increased by 12.55% to CNY 4,287,051,190.87 compared to the end of the previous year[8] - Prepayments increased by 94.21% compared to the beginning of the period, mainly due to the company's Ningxia subsidiary purchasing raw materials and Jinfei Molin prepaying project costs[16] - Inventory rose by 40.05% compared to the beginning of the period, primarily due to increased material stocking during the reporting period[16] - Construction in progress increased by 133.05% compared to the beginning of the period, mainly due to increased factory construction and equipment procurement by the company's subsidiaries[16] - Long-term borrowings decreased by 74.81% compared to the beginning of the period, as some long-term borrowings are due within one year[16] Shareholder Information - The total number of shareholders at the end of the reporting period was 28,669[12] - The largest shareholder, Jinfei Holdings Group Co., Ltd., held 38.22% of the shares, amounting to 143,922,000 shares[12] Future Plans and Acquisitions - The company plans to invest in a project to produce 3 million lightweight aluminum alloy automotive wheels annually[18] - The company acquired 100% equity of Watson Manufacturing (Thailand) Co., Ltd. on September 11, 2018[18] Forecast - The net profit attributable to shareholders of the listed company for 2018 is expected to increase by 14.00% to 30.00%, ranging from 69.40 million to 79.14 million yuan[20] Government Subsidies - The company received government subsidies amounting to CNY 29,215,998.41, which were recognized in the current period[9]

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 1,341,647,490.57, representing a 16.77% increase compared to CNY 1,148,927,473.18 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was CNY 35,189,848.70, a 3.13% increase from CNY 34,120,583.54 year-on-year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 23.12% to CNY 20,377,592.20 from CNY 26,504,888.90 in the previous year[19]. - The net cash flow from operating activities improved significantly, reaching CNY -52,931,436.11, a 75.90% increase compared to CNY -219,658,718.40 in the same period last year[19]. - The total assets at the end of the reporting period were CNY 4,051,222,866.59, up 6.36% from CNY 3,808,946,414.91 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company increased by 1.61% to CNY 922,733,919.79 from CNY 908,108,899.11 at the end of the previous year[19]. - Basic earnings per share decreased by 18.18% to CNY 0.09 from CNY 0.11 in the same period last year[19]. - Diluted earnings per share also decreased by 18.18% to CNY 0.09 from CNY 0.11 year-on-year[19]. - The weighted average return on equity was 3.83%, down from 4.94% in the previous year, a decrease of 1.11%[19]. Revenue Sources - The aluminum alloy wheel industry accounted for 89.07% of total operating revenue, with a year-on-year increase of 8.02%[43]. - Domestic sales increased by 18.25%, contributing CNY 800.73 million to total revenue[43]. - The company reported a significant increase in non-main business income, with government subsidies accounting for 47.72% of total profit[47]. Investments and Assets - The company’s construction in progress increased by 70% compared to the beginning of the year, primarily due to increased investment in the Yunnan Jinfei steel structure project[28]. - The company’s accounts receivable notes increased by 93% compared to the beginning of the year, indicating an increase in pledged financing[28]. - The company has cumulative investment of CNY 14.64 million from the total raised funds of CNY 256.85 million, with 48.64% of the funds having been repurposed[55]. - The company has invested CNY 2.19 million in the automotive wheel hub technology renovation project, achieving 100% of the planned investment[58]. - The construction of the technology research and development center has seen an investment of CNY 622.13 million, which is 62.21% of the planned total[58]. Research and Development - The company holds 299 patents, including 16 invention patents, 103 utility model patents, and 180 design patents, showcasing its strong R&D capabilities[30]. - The company applied for 27 patents during the reporting period, including 3 invention patents and 8 utility model patents[38]. - The company’s R&D investment rose to CNY 34.94 million, a 4.19% increase from the previous year[41]. Market Position and Strategy - The company has developed new clients in the OEM market, including Geely, Volkswagen, and Dongfeng Yueda Kia, and in the AM market, including Diewe from Germany and ESR/STARR from the USA[26]. - The company has established stable partnerships with major automotive manufacturers, enhancing its market position and brand influence[31]. - The company’s production model is based on "sales-driven production," which minimizes inventory risks by producing according to customer orders[27]. - The company is actively expanding its production bases in Yunnan and Ningxia to optimize market layout and reduce operational costs[37]. - The company’s overseas sales, particularly in North America and Europe, showed a stable upward trend despite challenges in the Australian market[37]. Financial Management and Risks - The company faces risks related to industry fluctuations, with potential impacts on gross margins and overall performance due to economic slowdowns in the automotive and motorcycle sectors[67]. - The company is exposed to policy risks, including restrictions on vehicle purchases and usage in major cities, which could negatively affect production and sales[68]. - The company has a high dependency on aluminum ingots, which constitute a significant portion of its main business costs, making it vulnerable to price fluctuations[69]. - The company is implementing measures to mitigate risks from raw material price volatility by linking product prices to aluminum prices[70]. - The company is in a rapid expansion phase, leading to a high debt ratio and potential solvency risks if operational cash flows decline[70]. - The company has strengthened its operational management and financial management to enhance profitability and ensure strong debt repayment capability[71]. Legal Matters - No major litigation or arbitration matters reported during the reporting period[82]. - The company was involved in a traffic accident case in Illinois, USA, with no direct liability established[82]. - A settlement of $100,000 was agreed upon in a case with AARON, MACGREGOR & ASSOCIATES, LLC[83]. - The company is pursuing a claim for overdue penalty fees amounting to ¥641,250 (approximately $100,000) against a supplier[84]. - A court ruling required a supplier to complete equipment modifications within ten days following the judgment[84]. - The company has ongoing litigation regarding overdue payments totaling ¥243,694 (approximately $37,000) from a customer[84]. - The company has successfully resolved a dispute with a customer, resulting in a payment of ¥130,000 (approximately $20,000)[84]. - The company is actively managing legal costs associated with ongoing litigation[84]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares for the half-year period[76]. - As of the end of the reporting period, the total number of ordinary shareholders was 36,015[120]. - The largest shareholder, Jinfei Holding Group, holds 38.22% of the shares, totaling 143,922,000 shares[120]. Environmental Compliance - The company has established pollution control facilities that are operating normally[106]. - The company’s emissions for various pollutants are within the regulatory limits, including pH values between 6.83-6.89 and chemical oxygen demand at 35, which is below the standard of 80[105]. - The company has implemented emergency response plans for environmental incidents in the electroplating workshop and radiation incidents[107]. - The company has conducted environmental monitoring as required by the Zhejiang Provincial Environmental Protection Department, reporting data daily/monthly during production[107]. Corporate Governance - The company has established a standardized management and internal control system to enhance operational efficiency[71]. - The company did not undergo any changes in its controlling shareholder or actual controller during the reporting period[123]. - The company’s board of directors and senior management experienced changes, including the appointment of a new general manager on March 5, 2018[129]. - The financial report for the first half of 2018 was not audited[134]. Accounting Policies - The company’s financial statements comply with the requirements of the enterprise accounting standards, ensuring transparency and accuracy[177]. - The company’s accounting policies include specific provisions for bad debts, depreciation, and revenue recognition, reflecting prudent financial management[176]. - The company uses the spot exchange rate on the transaction date to convert foreign currency transactions into RMB, with exchange differences recognized in the current profit and loss, except for specific capitalized foreign currency borrowings[184]. - Financial assets are classified into four categories at initial recognition, including those measured at fair value with changes recognized in profit and loss, held-to-maturity investments, loans and receivables, and available-for-sale financial assets[186].

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 1,341,647,490.57, representing a 16.77% increase compared to CNY 1,148,927,473.18 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was CNY 35,189,848.70, a 3.13% increase from CNY 34,120,583.54 year-on-year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 23.12% to CNY 20,377,592.20 from CNY 26,504,888.90 in the previous year[19]. - The net cash flow from operating activities was negative at CNY -274,931,436.11, a decline of 25.16% compared to CNY -219,658,718.40 in the same period last year[19]. - Basic and diluted earnings per share were both CNY 0.09, down 18.18% from CNY 0.11 in the previous year[19]. - The total assets at the end of the reporting period were CNY 4,051,222,866.59, an increase of 6.36% from CNY 3,808,946,414.91 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company increased by 1.61% to CNY 922,733,919.79 from CNY 908,108,899.11 at the end of the previous year[19]. - The company reported a significant increase in non-main business income, with government subsidies accounting for 47.72% of total other income[47]. - The company achieved operating revenue of CNY 1,341.65 million, an increase of 16.77% compared to the same period last year[40]. - Net profit attributable to shareholders reached CNY 35.19 million, reflecting a year-on-year increase of 3%[37]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -274,931,436.11, worsening from CNY -219,658,718.40 in the previous period[154]. - The cash inflow from operating activities was 880,451,482.76 yuan, down from 1,099,309,601.37 yuan in the previous period[157]. - The cash outflow for operating activities totaled 1,013,891,107.86 yuan, compared to 1,262,613,459.79 yuan in the previous period[158]. - The total cash and cash equivalents at the end of the period were 104,063,304.83 yuan, compared to 178,258,848.85 yuan at the end of the previous period[159]. - The company experienced a net decrease in cash and cash equivalents of 35,052,066.55 yuan, compared to an increase of 150,619,735.64 yuan in the previous period[159]. Investments and Assets - The company has committed to an investment project for an annual production capacity of 2 million aluminum alloy automotive wheels, with CNY 2.19 million already invested, achieving 100% of the planned investment[58]. - The technical research and development center project has seen an investment of CNY 407.04 million, representing 62.21% of the adjusted total investment of CNY 1 billion[58]. - The total assets of the company as of June 30, 2018, amounted to RMB 4,051,222,866.59, an increase from RMB 3,808,946,414.91 at the beginning of the period[136]. - The company's current assets totaled RMB 2,118,514,076.92, up from RMB 1,966,520,974.60 at the start of the period, indicating a growth of approximately 7.7%[137]. - The company's equity attributable to shareholders reached ¥922,733,919.79, a slight increase from ¥908,108,899.11, reflecting a growth of about 1.7%[139]. Debt and Liabilities - Short-term borrowings increased significantly to CNY 2.05 billion, which is 13.60% of total assets, up from 50.69% the previous year, primarily due to an increase in pledged borrowings[49]. - The company's current liabilities totaled ¥2,906,954,641.34, an increase from ¥2,669,183,459.54, reflecting a rise of about 8.9%[139]. - The company is experiencing a high debt ratio and lower liquidity ratios compared to industry peers, which poses a risk to its debt repayment capacity[70]. - The company has strengthened its operational management and financial management to enhance profitability and ensure strong debt repayment capability[71]. Research and Development - Research and development expenses increased by 4.19% to CNY 34.94 million, indicating a commitment to innovation[41]. - The company has a total of 299 patents, including 16 invention patents, 103 utility model patents, and 180 design patents, with several more pending[30]. - The company applied for 27 patents during the reporting period, including 3 invention patents and 8 utility model patents[38]. Market and Sales - The aluminum alloy wheel industry accounted for 89.07% of total operating revenue, with a year-on-year increase of 8.02%[43]. - Domestic sales increased by 18.25%, contributing CNY 800.73 million to total revenue[43]. - The company has developed new clients in the OEM market, including Geely, Volkswagen, and Dongfeng Yueda Kia, and in the AM market, including Diewe from Germany and ESR/STARR from the USA[26]. - The company emphasizes a "sales-driven production" model, reducing inventory risks by producing based on customer orders[27]. Legal and Compliance - The company reported no significant litigation or arbitration matters during the reporting period[82]. - The company is actively managing its legal affairs to minimize costs and liabilities associated with ongoing litigation[83]. - The company has no significant penalties or rectifications during the reporting period, maintaining compliance with legal and regulatory standards[88]. - The company has established a standardized management and internal control system to improve management levels and ensure smooth operational conditions[71]. Environmental and Social Responsibility - The company has established pollution control facilities, including dust collection and chemical precipitation systems, which are currently operating normally[106]. - The company’s emissions of chemical oxygen demand were 0.115T, well below the limit of 80[105]. - The company’s ammonia nitrogen emissions were 0.0047T, significantly lower than the limit of 15[105]. - The company’s total chromium emissions were 0.00009T, which is below the limit of 1[105]. - The company reported no significant environmental protection issues during the reporting period[105]. Corporate Governance - The company did not distribute cash dividends or issue bonus shares for the half-year period[76]. - The company’s half-year financial report has not been audited[80]. - The company has not engaged in any asset or equity acquisitions or sales during the reporting period[93]. - The company has not identified any significant doubts regarding its ability to continue as a going concern for the next 12 months[175]. - The company’s financial statements comply with the requirements of the enterprise accounting standards, ensuring transparency and accuracy[177].

浙江今飞凯达轮毂股份有限公司 2018 年第一季度报告正文 证券代码：002863 证券简称：今飞凯达 公告编号：2018-035 浙江今飞凯达轮毂股份有限公司 2018 年第一季度报告正文 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。 公司负责人葛炳灶、主管会计工作负责人朱妍及会计机构负责人(会计主管 人员)朱妍声明：保证季度报告中财务报表的真实、准确、完整。 2 浙江今飞凯达轮毂股份有限公司 2018 年第一季度报告正文 第二节 公司基本情况 1 浙江今飞凯达轮毂股份有限公司 2018 年第一季度报告正文 第一节 重要提示 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 599,745,808.39 | 525,028,831.18 | 14.23% | | 归属于上市公司股东的 ...

Financial Performance - The company's operating revenue for 2017 was ¥2,580,295,132.27, representing a 12.47% increase compared to ¥2,294,193,121.60 in 2016[17] - The net profit attributable to shareholders decreased by 16.74% to ¥60,876,451.18 from ¥73,112,501.02 in the previous year[17] - The net profit after deducting non-recurring gains and losses fell by 45.34% to ¥30,610,771.33, down from ¥56,001,326.82 in 2016[17] - Basic and diluted earnings per share decreased by 31.82% to ¥0.30 from ¥0.44 in 2016[17] - The weighted average return on net assets was 7.69%, down from 13.26% in the previous year, a decrease of 5.57%[17] - The total operating revenue for the fourth quarter reached ¥866,987,299.50, with a total annual revenue of ¥2,580,294,132.27[23] - The net profit attributable to shareholders for the fourth quarter was ¥20,773,321.80, contributing to an annual net profit of ¥60,996,430.18[23] - The company received government subsidies totaling ¥35,007,477.56, which accounted for 20.27% of the total profit for the period[25] Cash Flow and Assets - The net cash flow from operating activities was negative at -¥180,431,259.89, a decline of 210.02% compared to ¥163,992,427.11 in 2016[17] - The net cash flow from investing activities also decreased by 54.29% year-on-year, mainly due to investments in land, buildings, and equipment for projects in Yunnan and Ningxia, totaling -¥281,785,277.88[58] - The net cash flow from financing activities increased significantly by 991.86% year-on-year, amounting to ¥692,605,212.40, driven by increased bank loans and funds raised for projects[59] - Total assets increased by 31.26% to ¥3,808,946,414.91 at the end of 2017, compared to ¥2,901,860,204.52 at the end of 2016[17] - The total operating cash inflow of ¥2,267,960,919.01, a year-on-year increase of 9.52%[57] - The total operating cash outflow increased by 28.41% year-on-year, reaching ¥2,448,392,178.90[57] Market and Product Development - The company is focusing on expanding its market presence and enhancing product development strategies[5] - The company is actively expanding its production capacity with ongoing construction projects in Yunnan, contributing to future growth[30] - The company has established stable partnerships with major automotive manufacturers in the OEM market, enhancing its market position[28] - The company has plans for market expansion and new product development, focusing on automotive and motorcycle parts[68] - The company is expanding its market presence in Southeast Asia, with plans to enter three new countries by the end of the year[161] - New product development includes the launch of a next-generation wheel hub, expected to increase market share by 10%[161] Research and Development - The company holds 23 invention patents, 122 utility model patents, and 266 design patents, indicating a strong focus on R&D capabilities[31] - The company applied for 69 patents during the reporting period, including 6 invention patents and 18 utility model patents, and authorized a total of 99 patents[38] - Research and development efforts include the development of a low-pressure dual-channel casting machine and a multi-channel automatic production control system, with goals to enhance mechanical performance[53] - The company has invested 50 million RMB in R&D for innovative technologies aimed at improving product efficiency[161] Inventory and Production - The company has increased its inventory, primarily due to higher production volumes and new customer acquisitions[30] - The total sales volume of aluminum alloy wheels was 17,013,401 units, representing a year-over-year growth of 7.05%, and production volume was 17,144,868 units, up 8.56%[45] - The inventory level increased to 2,057,103 units, reflecting a rise of 9.30% compared to the previous year[45] - As of December 31, 2017, the inventory balance was CNY 739,362,965.41, with significant considerations for inventory impairment testing due to high carrying value[200] Shareholder and Dividend Information - The company plans to distribute a cash dividend of ¥0.90 per 10 shares, with a capital reserve conversion of 7 shares for every 10 shares held[5] - The company reported a total of CNY 125,137,000 in revenue from the sale of automotive and motorcycle wheel hubs and components[69] - In 2017, the company distributed cash dividends totaling ¥19.94 million, representing 32.75% of the net profit attributable to shareholders[95] - The distributable profit for the period is reported at 317,063,820.53 CNY[96] Financial Management and Risks - The company’s debt ratio is high, and its liquidity ratios are lower than industry peers, posing potential solvency risks if operating cash flow declines[87] - The company is aware of industry volatility risks and plans to strengthen market research and new product development[83] - The company plans to link product prices to aluminum prices to mitigate raw material price fluctuation risks[86] Corporate Governance and Compliance - The company maintains a governance structure that complies with relevant laws and regulations, ensuring independent operations from its controlling shareholder in business, personnel, assets, and finance[180] - The company has established a performance evaluation and incentive mechanism linking senior management compensation to company performance metrics[178] - The audit committee regularly monitored the company's financial status and internal controls, ensuring compliance with regulations[187] - The company has a robust internal control system and adheres to strict information disclosure practices, ensuring transparency and equal access to information for all shareholders[178] Environmental Responsibility - The company emphasizes environmental protection and sustainable development, adhering to ISO14001 environmental management system standards[128] - The company reported a total emission of 5,090.4 tons per year for chemical oxygen demand, with a concentration of 35 mg/L, which is below the regulatory limit of 50 mg/L[131] - The ammonia nitrogen emissions were recorded at 1.41 mg/L, significantly lower than the limit of 8 mg/L[131] - The company has established pollution control facilities, including bag dust removal and chemical precipitation, which are currently operating normally[132] Employee and Management Structure - The total number of employees in the company is 3,205, with 1,105 in the parent company and 2,100 in major subsidiaries[170] - The company has established a performance-based compensation mechanism linked to business performance and individual performance for its directors and senior management[168] - The management team is committed to enhancing the company's market position through effective governance and operational efficiency[158] Strategic Outlook - The company expects a revenue growth of 5%-10% and a net profit growth of 5%-10% for 2018[80] - The company plans to enhance resource integration and industry chain fusion across its four production bases[80] - The company aims to improve product R&D and production technology to strengthen its position in the wheel industry[79]

Financial Performance - Operating revenue for the period was CNY 564,380,359.59, reflecting a 12.07% increase compared to the same period last year[7] - Net profit attributable to shareholders decreased by 47.14% to CNY 5,982,545.84 year-on-year[7] - Basic earnings per share fell by 57.14% to CNY 0.03[7] - The estimated net profit attributable to shareholders for 2017 is expected to range from 51.18 million to 87.73 million yuan, representing a change of -30.00% to 20.00% compared to the previous year[22] - The net profit for the current period is CNY 40,386,780.08, a decrease of 9.7% from CNY 44,568,652.07 in the previous period[48] - The total comprehensive income for the current period is CNY 39,545,564.45, compared to CNY 43,878,820.89 in the previous period, a decrease of 9.6%[49] - The company reported a gross profit margin of approximately 12.5% for the current period, down from 14.5% in the previous period[44] - Net profit for Q3 2017 was CNY 6,583,944.83, a decrease of 43.5% from CNY 11,730,366.65 in Q3 2016[40] - Operating profit increased to ¥28,615,775.65, up 8.0% from ¥26,500,272.22 in the previous period[51] - Net profit for the current period is ¥25,113,002.90, down 15.5% from ¥29,749,867.14 in the previous period[52] Assets and Liabilities - Total assets increased by 24.53% to CNY 3,613,791,129.16 compared to the end of the previous year[7] - The total liabilities increased to CNY 2,716,212,549.50 from CNY 2,303,240,830.99, representing a growth of 17.9%[34] - Long-term payables decreased by 30.7% compared to the beginning of the period, mainly due to a reduction in financing leases[16] - Total cash and cash equivalents at the end of the period increased to ¥159,641,751.65 from ¥144,501,799.20 in the previous period[56] Cash Flow - Cash flow from operating activities showed a significant decline, with a net outflow of CNY 41,951,864.53, a 7,343.37% increase in outflow compared to the previous year[7] - Cash flow from operating activities shows a net outflow of ¥261,610,582.93, compared to a net inflow of ¥106,773,322.76 in the previous period[55] - Cash flow from investing activities resulted in a net outflow of ¥153,402,785.26, worsening from a net outflow of ¥128,418,533.47 in the previous period[56] - Cash flow from financing activities generated a net inflow of ¥513,431,436.51, a significant improvement from a net outflow of ¥1,663,037.14 in the previous period[56] Inventory and Costs - Inventory increased by 121.84% compared to the beginning of the period, attributed to rising prices of raw materials and increased stockpiling[15] - Operating costs for Q3 2017 amounted to CNY 579,865,881.67, up from CNY 494,361,274.88, reflecting a year-over-year increase of 17.3%[39] - Operating costs for the current period amount to CNY 1,699,605,110.78, up from CNY 1,526,992,882.48, reflecting a rise of 11.3%[46] - Cash paid for purchasing goods and receiving services increased by 45.88% compared to the same period last year, mainly due to an increase in inventory[20] Shareholder Information - Net assets attributable to shareholders rose by 50.76% to CNY 887,066,422.52 year-on-year[7] - The number of ordinary shareholders at the end of the reporting period was 29,141[11] - Capital reserve increased by 222.84% compared to the beginning of the period, primarily due to funds raised from the initial public offering[17] Government Support and Other Income - The company received government subsidies amounting to CNY 26,843,316.34 during the reporting period[8] - Other income increased by 100% compared to the same period last year, mainly due to adjustments in government subsidy income[18] Future Outlook - The company plans to expand its market presence and invest in new product development to drive future growth[44]

Financial Performance - Operating revenue for the current period was CNY 564,380,359.59, representing a 12.07% increase year-on-year[8] - Net profit attributable to shareholders decreased by 47.14% to CNY 5,982,545.84 compared to the same period last year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -12,358,063.91, a decrease of 282.20%[8] - The weighted average return on net assets was -1.40%, a decrease of 213.47% compared to the same period last year[8] - Other income increased by 100% compared to the same period last year, mainly due to adjustments in government subsidy income under new accounting standards[19] - The estimated net profit attributable to shareholders for 2017 is expected to range from 51.18 million to 87.73 million, reflecting a change of -30.00% to 20.00% compared to the previous year[23] Assets and Liabilities - Total assets increased by 24.53% to CNY 3,613,791,129.16 compared to the end of the previous year[8] - Net assets attributable to shareholders increased by 50.76% to CNY 887,066,422.52 compared to the end of the previous year[8] - Inventory increased by 121.84% compared to the beginning of the period, mainly due to rising prices of raw materials[16] - Construction in progress increased by 101.41% due to the expansion of manufacturing facilities[16] - Short-term borrowings increased by 49.09% compared to the beginning of the period, mainly due to a decrease in borrowing costs[17] - Accounts payable grew by 33.93% compared to the beginning of the period, primarily due to rising prices of raw materials and increased inventory[17] - Deferred income increased by 130.36% compared to the beginning of the period, mainly due to a significant increase in asset-related subsidies received[17] - Capital reserve grew by 222.84% compared to the beginning of the period, primarily due to funds raised from the initial public offering[18] Cash Flow - Cash flow from operating activities showed a net outflow of CNY -261,610,582.93, a decline of 345.01%[8] - Cash paid for purchasing goods and services increased by 45.88% compared to the same period last year, mainly due to an increase in inventory[21] Government Support and Compliance - The company received government subsidies amounting to CNY 26,843,316.34 during the reporting period[9] - The company has no violations regarding external guarantees during the reporting period[25] - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[26] - The company did not engage in any research, communication, or interview activities during the reporting period[27]

Financial Performance - The company's operating revenue for the first half of 2017 was CNY 1,148,927,473.18, representing a 7.89% increase compared to CNY 1,064,857,163.06 in the same period last year[16]. - The net profit attributable to shareholders of the listed company was CNY 34,120,583.54, up 10.11% from CNY 30,989,031.76 year-on-year[16]. - The net profit after deducting non-recurring gains and losses was CNY 26,504,888.90, an increase of 11.20% compared to CNY 23,834,585.72 in the previous year[16]. - The basic earnings per share decreased by 5.26% to CNY 0.18 from CNY 0.19 in the same period last year[16]. - The weighted average return on equity was 4.94%, down from 5.85% in the previous year[16]. - The company reported a total investment income of 7,615,694.64 CNY for the reporting period[21]. - The company achieved total operating revenue of CNY 1,148.93 million, an increase of 8% compared to the same period last year[51]. - Net profit for the period was CNY 33.80 million, reflecting a growth of 2.85% year-on-year[51]. Cash Flow and Financial Position - The net cash flow from operating activities was negative at CNY -219,658,718.40, a decline of 306.85% from CNY 106,194,146.40 in the same period last year[16]. - The company's cash flow from financing activities was CNY 468.14 million, significantly increasing due to funds raised from its listing[56]. - Cash and cash equivalents at the end of the reporting period were ¥483,263,476.00, accounting for 13.57% of total assets, an increase from 12.91% in the previous year[64]. - The company reported a net increase in cash and cash equivalents of CNY 150,619,735.64, compared to a decrease of CNY -11,911,798.49 previously[162]. - The ending cash and cash equivalents balance was CNY 178,258,848.85, an increase from CNY 73,972,965.62 in the prior period[162]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 3,560,987,161.82, a 22.71% increase from CNY 2,901,860,204.52 at the end of the previous year[16]. - The total liabilities of the company were CNY 2,669,953,442.14, up from CNY 2,303,240,830.99, representing a growth of about 16%[142]. - Short-term borrowings increased to ¥1,320,840,289.00, which is 37.09% of total liabilities, down from 41.72% in the previous year, suggesting improved debt management[64]. - The equity attributable to the parent company increased to CNY 881,122,961.53 from CNY 588,390,867.09, showing a growth of approximately 49.8%[143]. Inventory and Procurement - Inventory increased by 68.43% compared to the beginning of the year, as the company increased aluminum procurement to prepare for potential price increases and increased customer demand[42]. - Inventory levels rose significantly to CNY 736,512,067.30 from CNY 437,280,471.86, marking an increase of around 68.5%[140]. Research and Development - Research and development investment increased by 46.91% to CNY 33.54 million during the reporting period[56]. - The company has a total of 14 invention patents and 111 utility model patents, with several more pending review, indicating a strong focus on innovation and technology[44]. - The company applied for 39 patents during the reporting period, including 3 invention patents and 11 utility model patents[45]. - The company has established a municipal high-tech research and development center to oversee new technology development and product design[44]. Market and Sales Strategy - The company specializes in the manufacturing of aluminum alloy wheels, with a focus on both automotive and motorcycle applications[24]. - The company has established itself as a significant player in the aluminum alloy wheel industry, with leading production scale and product quality[24]. - The product range includes various types of wheels such as painted, electroplated, vacuum-coated, polished, and combination wheels, catering to different vehicle segments[25][26]. - The company has a structured sales model for the OEM market, which includes entering supplier systems, bidding, and product development phases[34]. - The pricing strategy for OEM products is linked to aluminum prices, allowing for adjustments based on market fluctuations[34]. Environmental and Regulatory Compliance - The company is classified as a key pollutant discharge unit by environmental protection authorities[115]. - The company has established facilities for the treatment of waste gas, wastewater, and waste residue, which are operating normally[116]. - The chemical oxygen demand (COD) discharge is 4.4489 million tons per annum, with a concentration of <30mg/L, below the standard of 50mg/L[115]. - The ammonia nitrogen discharge is 0.672mg/L, below the standard of 8mg/L[115]. - The company has no significant environmental issues reported during the period[115]. Corporate Governance and Shareholder Information - The company has not experienced any major litigation or arbitration matters during the reporting period[96]. - The largest shareholder, Jinfei Holdings Group, holds 38.22% of the shares, amounting to 84,660,000 shares[124]. - The second-largest shareholder, Junrun International Investment, holds 18.74% with 41,500,000 shares[124]. - The company did not experience any changes in its controlling shareholder or actual controller during the reporting period[126]. - The company has no preferred shares outstanding during the reporting period[130]. Risks and Challenges - The company faces risks related to industry fluctuations, primarily linked to the automotive and motorcycle sectors, which could impact profit margins and overall performance[84]. - The company is exposed to raw material price volatility, particularly in aluminum ingots, which could pressure cost control and affect profit margins[85]. - The company is in a rapid expansion phase, with a high debt-to-asset ratio and lower liquidity ratios compared to industry peers, posing potential solvency risks[85]. - There is an increasing management difficulty due to the expansion of fixed asset investments and business scale, which may negatively impact sustainable development[86]. - The company faces a talent shortage, particularly for composite talents with management, technology, and capital operation skills, which is critical for maintaining industry leadership[86]. Future Outlook - The company plans to continue expanding its market presence and invest in new product development[167]. - The projected net profit for the period from January to September 2017 is expected to range from CNY 38 million to CNY 44.4 million, reflecting a decrease of 10% to an increase of 5% compared to the same period in 2016[83].

浙江今飞凯达轮毂股份有限公司 2017 年第一季度报告全文 浙江今飞凯达轮毂股份有限公司 2017 年第一季度报告 2017 年 04 月 1 浙江今飞凯达轮毂股份有限公司 2017 年第一季度报告全文 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。 公司负责人葛炳灶、主管会计工作负责人朱妍及会计机构负责人(会计主管 人员)朱妍声明：保证季度报告中财务报表的真实、准确、完整。 2 浙江今飞凯达轮毂股份有限公司 2017 年第一季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否因会计政策变更及会计差错更正等追溯调整或重述以前年度会计数据 □ 是 √ 否 浙江今飞凯达轮毂股份有限公司 2017 年第一季度报告全文 说明原因 □ 适用 √ 不适用 公司报告期不存在将根据《公开发行证券的公司信息披露解释性公告第 1 号——非经常性损益》定义、列举的非经常性损益 项目界定为经常性损益的项目的情形。 | | 本报告期 | 上年同期 ...