证券代码： 002863 证券简称： 今飞凯达 公告编号： 2020-054 债券代码： 128056 债券简称： 今飞转债 浙江今飞凯达轮毂股份有限公司 关于参加浙江辖区上市公司投资者网上集体接待日活动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 为进一步加强与投资者特别是中小投资者的沟通交流，浙江今飞凯达轮毂 股份有限公司（以下简称"公司"）将参加由中国证券监督委员会浙江监管局指 导、浙江上市公司协会与深圳市全景网络有限公司（以下简称"全景网"）共同 举办的"凝心聚力 共克时艰"浙江辖区上市公司投资者网上集体接待日主题活 动。现将有关事项公告如下： 本次投资者网上集体接待日活动将通过全景网互动平台采取网络远程的方 式举行，投资者可以登录"全景·路演天下"网站 （http://rs.p5w.net）参与 本次活动。网上互动交流时间为 2020 年 5 月 15 日（星期五）下午 15:00-17:00。 届时公司董事长葛炳灶先生、总经理兼董事会秘书何东挺先生、财务总监朱 妍女士及相关工作人员将通过网络在线形式与投资者就公司治理、发展经营状 况等投资 ...

浙江今飞凯达轮毂股份有限公司 2020 年第一季度报告全文 浙江今飞凯达轮毂股份有限公司 2020 年第一季度报告 2020 年 04 月 1 浙江今飞凯达轮毂股份有限公司 2020 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。 浙江今飞凯达轮毂股份有限公司 2020 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） | 599,815,256.22 | 526,990,956.80 | 13.82% | | 归属于上市公司股东的净利润（元） | 12,969,021.00 | 8, ...

Financial Performance - The company's operating revenue for 2019 was ¥2,945,858,861.42, representing a 2.36% increase compared to ¥2,877,999,476.24 in 2018[6]. - The net profit attributable to shareholders for 2019 was ¥57,163,588.89, a decrease of 11.61% from ¥64,675,615.63 in 2018[6]. - The net profit after deducting non-recurring gains and losses was ¥26,322,572.20, down 33.50% from ¥39,583,895.02 in 2018[6]. - The net cash flow from operating activities was ¥242,260,953.77, a decline of 32.42% compared to ¥358,486,659.92 in 2018[6]. - The total assets at the end of 2019 were ¥4,462,913,450.92, reflecting a 9.23% increase from ¥4,085,820,078.38 at the end of 2018[6]. - The company's net assets attributable to shareholders increased by 9.58% to ¥1,043,919,952.31 in 2019 from ¥952,616,849.13 in 2018[19]. - The basic earnings per share for 2019 were ¥0.15, down 11.76% from ¥0.17 in 2018[6]. - The weighted average return on equity was 5.66%, a decrease of 1.22% from 6.88% in 2018[6]. - The company achieved operating revenue of 294,585.89 million yuan, an increase of 2.36% year-on-year[38]. - Net profit for the company was 5,944.20 million yuan, a decrease of 9.54% year-on-year[38]. Dividends and Share Capital - The company reported a cash dividend of 0.16 RMB per 10 shares for all shareholders, based on a total share capital of 376,561,803 shares[5]. - The cash dividend for 2018 was RMB 0.18 per 10 shares, amounting to RMB 6,777,900.00, representing 10.48% of the net profit attributable to shareholders[110]. - The cash dividend distribution plan for 2019 is subject to approval at the annual shareholders' meeting, indicating potential uncertainty[113]. - The cash dividends over the past three years have shown a decreasing trend, with 2019's payout being significantly lower than 2017's[111]. - The company's total share capital as of the end of 2019 is 376,561,803 shares[113]. Research and Development - The company applied for 84 patents during the reporting period, including 6 invention patents and 17 utility model patents[39]. - The company is focusing on several R&D projects, including automated deburring technology and water-based paint spraying technology, aiming for significant performance improvements[54]. - R&D investment accounted for 2.79% of operating revenue in 2019, down from 3.00% in 2018[57]. - The company has committed to investing 50 million CNY in research and development for innovative technologies in the next fiscal year[122]. - Research and development expenses increased by 30% to CNY 50 million, focusing on innovative wheel technologies[198]. Market and Sales - Revenue from the aluminum alloy wheel industry decreased by 16.59% to CNY 2.07 billion, accounting for 70.21% of total revenue, while other segments saw a significant increase of 120.41% to CNY 877 million[44]. - Domestic sales increased by 16.65% to CNY 1.86 billion, while international sales decreased by 15.38% to CNY 1.09 billion[44]. - The company is expanding its market presence through the establishment of new subsidiaries in various sectors, including automotive and new materials[69]. - The company aims to expand its market share by focusing on first-tier brands and exploring international high-end markets in 2020[93]. - The company is actively expanding its global layout, establishing a production base in Thailand to mitigate international trade friction[32]. Operational Efficiency and Management - The company has established a comprehensive quality assurance system, focusing on quality management, testing, and after-sales service to enhance competitiveness[41]. - The company is committed to continuous improvement in management and has implemented a lean production management system in collaboration with Zhejiang University[41]. - The company has a pressing demand for high-quality talent, particularly in management, technology, and capital operations, to maintain its industry leadership[104]. - The company has implemented policies to enhance internal training and attract external talent to address the talent shortage[104]. - The management team includes experienced professionals with backgrounds in engineering and finance, ensuring strong leadership[194]. Environmental Responsibility - The company has been recognized as a national "green factory" and has implemented various environmental protection measures[150]. - The company invested 8.6286 million yuan in environmental protection equipment and incurred operational costs of 4.7470 million yuan for environmental facilities in 2019[155]. - The company installed automatic online monitoring facilities at the electroplating workshop wastewater discharge outlet to achieve real-time discharge data monitoring[154]. - The company has established an emergency response plan for environmental incidents and signed mutual assistance agreements with surrounding enterprises[153]. - The company’s wastewater discharge for chemical oxygen demand was 3.23 tons per year, with a concentration of 56 mg/L, below the standard of 80 mg/L[152]. Future Outlook - The company expects a revenue decline of 15% and a net profit decline of 10% to 35% for the year 2020[91]. - Future guidance indicates a projected revenue growth of approximately 10% for the next fiscal year[190]. - The company plans to optimize its industrial structure and enhance its international manufacturing layout, including a project for an annual production of 3 million lightweight aluminum alloy automotive wheels[92]. - The company is exploring potential mergers and acquisitions to enhance its market position and product offerings[192]. - The company acknowledges risks from the global COVID-19 pandemic, which may impact production and cash flow, and plans to optimize market structure in response[96]. Corporate Governance - The company has maintained a clear and compliant cash dividend policy, ensuring the protection of minority shareholders' rights[108]. - The controlling shareholder and actual controller adhere to a principle of integrity in business operations, with no major unfulfilled court judgments or significant overdue debts[129]. - The company has not engaged in any repurchase transactions among the top ten shareholders during the reporting period[167]. - The total amount of related party transactions was 3,237.8 million yuan, with no significant deviations from market prices[133]. - The audit firm has changed to Zhonghui CPA, with an audit fee of 1.38 million CNY for the current fiscal year, reflecting a strategic decision to enhance audit quality[125].

证券代码： 002863 证券简称： 今飞凯达 公告编号： 2019-093 债券代码： 128056 债券简称： 今飞转债 浙江今飞凯达轮毂股份有限公司 关于参加浙江辖区上市公司投资者网上集体接待日活动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 为进一步加强与投资者特别是中小投资者的沟通交流，浙江今飞凯达轮毂 股份有限公司（以下简称"公司"）将参加由中国证券监督管理委员会浙江监管 局指导、浙江上市公司协会与深圳市全景网络有限公司（以下简称"全景网"） 共同举办的"沟通促发展 理性共成长"浙江辖区上市公司投资者网上集体接待 日主题活动。现将有关事项公告如下： 本次投资者网上集体接待日活动将通过全景网互动平台采取网络远程的方 式举行，投资者可以登录"全景·路演天下"网站 （http://rs.p5w.net）参与 本次活动。网上互动交流时间为 2019 年 11 月 5 日（星期二）下午 15:30-17:00。 届时公司副董事长兼总经理、董事会秘书何东挺先生，财务负责人朱妍女 士、投融资部部长葛茜芸女士及相关工作人员将通过网络在线形式与投资者就公 ...

Financial Performance - Operating revenue for the period reached CNY 795,692,629.84, reflecting a growth of 16.11% year-on-year[8] - Net profit attributable to shareholders increased by 32.62% to CNY 27,411,539.54 for the quarter[8] - The total profit for the period was CNY 33,383,394.98, up from CNY 26,927,680.99, marking a growth of 24.5% year-over-year[41] - The company's net profit for Q3 2019 reached CNY 27,021,439.10, representing an increase of 25.5% from CNY 21,465,120.08 in Q3 2018[41] - The company's total comprehensive income of CNY 28,584,224.74 for Q3 2019, compared to CNY 21,490,949.93 in the same quarter last year, an increase of 33.0%[42] - The total profit for Q3 2019 was CNY 56,616,129.20, down 14.9% from CNY 66,535,792.97 in Q3 2018[49] Asset and Liability Changes - Total assets increased by 10.96% to CNY 4,533,540,145.20 compared to the end of the previous year[8] - Total liabilities increased to CNY 2,167,281,596.13 from CNY 1,966,874,937.48, indicating a rise of 10.2%[37] - The equity attributable to shareholders of the parent company rose to CNY 1,093,202,051.79, up from CNY 952,616,849.13, reflecting a growth of 14.8%[33] - The company's total assets as of September 30, 2019, were CNY 3,154,078,350.80, compared to CNY 2,850,496,050.37 at the end of 2018, representing a growth of 10.6%[36] Cash Flow Analysis - The net cash flow from operating activities surged by 19.76% to CNY 71,768,522.18[8] - Net cash flow from operating activities increased by 258.66% year-on-year, driven by increased cash received from sales and higher export tax rebates[19] - Cash flow from financing activities increased by 174.44% year-on-year, mainly due to the issuance of convertible bonds and a reduction in financing lease payments[19] - The net cash flow from operating activities for the third quarter was ¥25,097,265.53, a significant increase from ¥6,997,447.98 in the same period last year, representing a growth of approximately 258%[56] - The company reported a total cash and cash equivalents balance of ¥157,079,774.37 at the end of the quarter, up from ¥127,846,371.98 at the end of the same quarter last year, marking a year-over-year increase of about 22.8%[57] Investment and Development - The company reported a significant increase in construction in progress by 78.58%, attributed to new project developments in Thailand, Yunnan, and Ningxia[16] - Research and development expenses increased to CNY 30,807,007.33, compared to CNY 22,234,471.02 in the previous year, marking a rise of 38.5%[40] - The company plans to continue investing in R&D and market expansion to drive future growth and enhance competitive positioning[40] Inventory and Receivables - Inventory increased by 38.15% compared to the beginning of the period, attributed to adjustments in production operations leading to more work-in-progress[19] - Other receivables rose by 56.78%, primarily due to an increase in electricity fee adjustments[16] - Prepayments increased by 167.08%, mainly due to advance payments for land and construction costs for new projects[16] Financial Challenges - Credit impairment losses doubled compared to the same period last year, primarily due to the new financial instrument standards requiring impairment of financial assets to be included in credit impairment losses[18] - The company experienced a credit impairment loss of CNY -1,624,726.65 during the quarter, indicating challenges in asset quality[41] - The company incurred credit impairment losses of CNY 2,470,480.68 in Q3 2019, reflecting ongoing challenges in asset quality[49] Other Financial Metrics - The weighted average return on equity decreased by 1.54% to 4.50% year-to-date[8] - The company's basic and diluted earnings per share for Q3 2019 were both CNY 0.07, compared to CNY 0.05 in the previous year, reflecting a 40% increase[42] - The financial expenses for the quarter were CNY 10,287,365.83, down from CNY 15,368,674.16 in Q3 2018, showing improved cost management[44]

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 1,282,804,802.40, a decrease of 4.39% compared to CNY 1,341,647,490.57 in the same period last year[18]. - The net profit attributable to shareholders was CNY 19,394,137.05, down 44.89% from CNY 35,189,848.70 in the previous year[18]. - The net profit after deducting non-recurring gains and losses was CNY 958,177.21, a significant decline of 95.30% compared to CNY 20,377,592.20 in the same period last year[18]. - The net cash flow from operating activities was CNY -46,671,256.65, an improvement of 11.83% from CNY -52,931,436.11 in the previous year[18]. - The company's total profit for the first half of 2019 was CNY 23.23 million, a decline of 41.2% from CNY 39.61 million in the same period of 2018[170]. - The company's total liabilities increased to CNY 3,254,076,181.00 as of June 30, 2019, compared to CNY 3,121,061,915.76 at the end of 2018[161]. - The company's total assets reached CNY 4,331,590,908.18, up from CNY 4,085,820,078.38 at the end of 2018[161]. Revenue and Sales - The company's export sales accounted for 43.99% of total revenue in the first half of 2019, amounting to RMB 564.31 million, indicating a significant reliance on international markets[39]. - Domestic revenue decreased by 10.27% to CNY 718,496,844.10, while international revenue increased by 4.33% to CNY 564,307,958.30[48]. - The motorcycle market saw a total production and sales volume of 7.81 million and 7.77 million units respectively in the first half of 2019, with a year-on-year decline of 2.57% and 3.15%[37]. Investments and Projects - The company is constructing a new production line in Yunnan with an annual capacity of 3 million aluminum alloy automotive wheels and 5 million motorcycle wheels, which is expected to enhance cost advantages once fully operational[38]. - The company has invested in a new facility in Thailand with an expected annual output of 3 million aluminum alloy automotive wheels, aimed at mitigating trade barriers and enhancing competitiveness[42]. - The company has established a new subsidiary for motorcycle wheel and parts production with an investment of ¥100,000,000, holding a 100% stake[57]. - The company is involved in a project to produce 300,000 aluminum alloy automotive wheel hubs, with a total investment of ¥19,483,657.40[61]. Research and Development - The company has obtained a total of 246 patents, including 18 invention patents, 82 utility model patents, and 146 design patents[29]. - Research and development expenses increased by 4.06% to CNY 36,362,558.25 from CNY 34,943,125.63 in the previous year[46]. - The company plans to strengthen product market research and increase R&D efforts to improve product quality and meet customer demands[82]. Financial Structure and Capital - The company raised CNY 368 million through the issuance of convertible bonds in March 2019, enhancing its capital structure[44]. - The company issued 55.5 million shares at a price of CNY 5.48 per share, raising a total of CNY 30,414.00 million[68]. - The company has a high debt-to-asset ratio and lower liquidity ratios compared to industry peers, posing potential solvency risks[87]. - The company plans to optimize its financial structure through the successful issuance of convertible bonds in the first half of 2019, enhancing its debt repayment capacity[87]. Market Challenges - The company faced challenges due to the US-China trade tensions, with tariffs on exports to the US increasing from 10% to 25%, impacting the export outlook[41]. - The company anticipates challenges due to a slowdown in the automotive and motorcycle industries, which could lead to a decline in gross margins and overall performance[82]. - The company faced anti-dumping duties from the EU at a rate of 22.3% and from the Eurasian Economic Union at 33.69%, which could impact competitiveness in those markets[83]. Corporate Governance and Compliance - The company reported no significant litigation or arbitration matters during the reporting period[97]. - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period[134]. - The company has no non-standard audit reports for the reporting period[96]. Environmental and Social Responsibility - The company has no significant environmental protection issues and is classified as a key pollutant discharge unit[118]. - The company has implemented pollution prevention facilities, including a waste gas adsorption device with a processing capacity of 200 cubic meters[119].

Financial Performance - The company's operating revenue for Q1 2019 was ¥526,990,956.80, a decrease of 12.13% compared to ¥599,745,808.39 in the same period last year[7] - The net profit attributable to shareholders was ¥8,774,485.89, down 38.80% from ¥14,338,534.74 year-on-year[7] - The net profit after deducting non-recurring gains and losses was ¥725,353.29, a significant decline of 93.02% from ¥10,399,005.20 in the previous year[7] - Basic earnings per share decreased by 50.00% to ¥0.02 from ¥0.04 in the same period last year[7] - Diluted earnings per share also fell by 50.00% to ¥0.02 compared to ¥0.04 in the previous year[7] - The company's net profit margin for Q1 2019 was approximately 0.16%, reflecting a decline from the previous year's margin[35] - The company reported a total comprehensive income of CNY 9,626,802.50, a decline of 31.83% from CNY 14,163,356.36 in the previous year[38] - The total profit before tax was CNY 11,020,738.19, down 32.73% from CNY 16,394,989.50 in the previous year[37] Cash Flow and Liquidity - The net cash flow from operating activities improved to ¥42,019,158.19, compared to a negative cash flow of ¥119,241,900.16 in the same period last year, marking a 135.24% increase[7] - Cash and cash equivalents increased by 80.20% compared to the beginning of the period, mainly due to the issuance of convertible bonds[15] - Total cash inflow from operating activities amounted to ¥664,039,339.88, up from ¥556,115,507.48 year-on-year[45] - The cash outflow from operating activities decreased to ¥622,020,181.69 from ¥675,357,407.64, indicating better cost management[45] - The net cash flow from investing activities was -¥51,440,713.82, an improvement from -¥93,311,828.24 in the previous year[46] - Cash inflow from financing activities reached ¥1,417,638,549.71, significantly higher than ¥639,924,466.73 in the prior year[46] - The net cash flow from financing activities was ¥285,893,356.02, compared to just ¥2,790,754.69 in the same quarter last year[46] - The ending balance of cash and cash equivalents increased to ¥415,801,606.35 from ¥75,921,606.67 year-on-year[46] - The company experienced a net increase in cash and cash equivalents of ¥273,448,165.06, contrasting with a decrease of ¥215,837,600.80 in the same quarter last year[46] Assets and Liabilities - Total assets at the end of the reporting period reached ¥4,609,178,908.89, an increase of 12.81% from ¥4,085,820,078.38 at the end of the previous year[7] - Total liabilities reached CNY 3,536,466,370.46, an increase of 13.3% from CNY 3,121,061,915.76[29] - Shareholders' equity totaled CNY 1,072,712,538.43, up from CNY 964,758,162.62, reflecting an increase of 11.2%[29] Operational Efficiency - Total operating costs for Q1 2019 were CNY 526,147,626.32, down 10.8% from CNY 589,810,624.47 in Q1 2018[35] - The gross profit margin decreased from 14.25% to 11.92% due to higher operating costs[39] - Operating profit for the first quarter was CNY 10,898,613.37, a decrease of 27.67% compared to CNY 15,115,371.40 in the previous year[37] Investments and Expenses - Financial expenses increased by 37.71% compared to the same period last year, mainly due to new financing methods and interest on convertible bonds[16] - Investment income increased by 1445.16% compared to the same period last year, primarily due to changes in investment income from financial assets measured at fair value[16] - Research and development expenses for Q1 2019 were CNY 15,541,070.29, slightly down from CNY 16,471,708.73 in the previous year[35] - The company incurred research and development expenses of CNY 8,914,273.92, which is a decrease of 30.54% from CNY 12,865,320.27 in the previous year[39] Government Support - The company recognized government subsidies amounting to ¥8,987,297.24 during the reporting period, which are closely related to its business operations[8]

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].