Financial Performance - Net profit attributable to shareholders decreased by 58.44% year-on-year to ¥1,264,657.41, while net profit for the year-to-date period fell by 82.91% to ¥4,628,901.65[8]. - Operating revenue for the reporting period was ¥53,612,969.49, down 0.80% year-on-year, but year-to-date revenue increased by 17.00% to ¥208,699,329.98[8]. - Basic earnings per share for the reporting period were ¥0.02, a decrease of 60.00%, and year-to-date earnings per share were ¥0.07, down 82.93%[8]. - Operating profit decreased by CNY 9,920,672.47, a 73.47% decrease year-on-year, mainly due to a decline in product gross margin[16]. - Net profit decreased by CNY 22,461,819.01, an 82.91% decrease year-on-year, primarily due to a decline in product gross margin and a decrease in non-operating income[16]. - Total operating revenue for the current period is $53,612,969.49, a decrease of 0.8% from $54,045,479.04 in the previous period[37]. - Net profit for the current period is $1,264,657.41, a decline of 58.5% compared to $3,042,765.92 in the previous period[39]. - Total operating revenue for the period reached ¥208,699,329.98, an increase of 17.00% compared to ¥178,377,285.52 in the previous period[44]. - Net profit for the period was ¥4,628,901.65, a significant decrease of 82.85% from ¥27,090,720.66 in the same period last year[46]. Cash Flow - The net cash flow from operating activities decreased by 69.16% to ¥2,819,545.87 for the reporting period, while it increased by 82.09% to ¥8,302,699.43 year-to-date[8]. - Cash flow from operating activities increased by CNY 3,743,121.90, an 82.09% increase year-on-year, primarily due to sales growth and increased collection of receivables[17]. - Cash and cash equivalents increased by CNY 67,172,833.64, a 109.21% increase year-on-year, mainly due to an increase in net cash flow from operating activities[17]. - The net cash flow from operating activities for the third quarter was ¥8,302,699.43, an increase of 82.5% compared to ¥4,559,577.53 in the same period last year[54]. - The total cash inflow from operating activities was ¥153,542,821.69, compared to ¥99,794,935.43 in the same period last year, indicating a growth of 53.8%[54]. - The cash flow from operating activities netted ¥10,557,274.83, a substantial increase from ¥3,355,954.37 in the same period last year, highlighting improved operational efficiency[58]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥641,641,802.57, an increase of 0.51% compared to the end of the previous year[8]. - Total liabilities decreased to CNY 105,416,097.99 from CNY 108,219,780.58, a reduction of 2.5%[29]. - Current assets totaled CNY 464,082,435.78, up from CNY 456,715,879.92, indicating an increase of 1.6%[28]. - Non-current assets decreased to CNY 177,559,366.79 from CNY 181,661,365.16, a decline of 2.4%[28]. - Owner's equity increased to CNY 536,225,704.58 from CNY 530,157,464.50, showing a growth of 1.3%[30]. - Total assets increased to CNY 641,641,802.57 from CNY 638,377,245.08, reflecting a growth of 0.37%[28]. - Total liabilities amounted to CNY 107,362,703.10, with non-current liabilities at CNY 5,824,143.80[68]. Shareholder Information - The total number of shareholders at the end of the reporting period was 7,364, with the top ten shareholders holding a combined 59.54% of shares[12]. - The largest shareholder, Yu Xiaoqing, held 28.59% of the shares, amounting to 19,059,475 shares[12]. - The company did not engage in any repurchase transactions during the reporting period[13]. Operational Metrics - Cash received from sales increased by CNY 79,119,024.18, a 106.64% increase year-on-year, mainly due to sales growth and increased collection of receivables[17]. - Cash paid for purchasing goods and services was ¥101,244,518.81, an increase of 63.6% from ¥61,811,592.44 in the previous year[54]. - The company reported a credit impairment loss of ¥358,134.27, compared to a gain of ¥1,319,945.36 in the previous period[46]. Research and Development - Research and development expenses increased to ¥6,896,010.34, representing a rise of 24.69% compared to ¥5,526,634.49 in the previous period[44]. - Research and development expenses increased to $1,958,401.49, up 17.8% from $1,662,369.10 in the previous period[37]. Compliance and Governance - The company has no violations regarding external guarantees during the reporting period[20]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[21].

Financial Performance - The company's operating revenue for the first half of 2019 was ¥155,086,360.49, representing a 24.74% increase compared to ¥124,331,806.48 in the same period last year[16]. - The net profit attributable to shareholders decreased by 86.01% to ¥3,364,244.24 from ¥24,047,954.74 year-on-year[16]. - The net profit after deducting non-recurring gains and losses fell by 95.47% to ¥322,227.17 from ¥7,109,697.35 in the previous year[16]. - The company's revenue for the reporting period reached ¥155,086,360.49, representing a year-on-year increase of 24.74%[32]. - The gross profit margin for the specialized equipment manufacturing industry decreased by 7.41% to 11.75% compared to the previous year[37]. - The company reported a total profit of CNY 3,495,255.82 for the first half of 2019, down from CNY 28,614,527.94 in the same period of 2018[119]. - The total comprehensive income for the first half of 2019 was CNY 3,405,205.91, significantly lower than CNY 24,523,319.23 in the first half of 2018[120]. Cash Flow and Assets - The net cash flow from operating activities improved significantly to ¥5,483,153.56, compared to a negative cash flow of ¥4,582,811.25 in the same period last year, marking a 219.65% increase[16]. - The total assets at the end of the reporting period were ¥639,153,016.50, a slight increase of 0.12% from ¥638,377,245.08 at the end of the previous year[16]. - The company's total assets include cash and cash equivalents of ¥43,374,368.44, which is 6.79% of total assets, down from 11.19% the previous year[43]. - The accounts receivable stood at ¥88,432,243.28, accounting for 13.84% of total assets, showing a slight decrease from the previous year[43]. - Cash inflows from operating activities amounted to CNY 118,694,633.18 in the first half of 2019, compared to CNY 76,785,262.56 in the same period of 2018[121]. - The ending balance of cash and cash equivalents increased to ¥43,374,368.44 from ¥70,055,185.81 year-over-year[124]. Costs and Expenses - The cost of sales increased by 36.18% to ¥136,863,834.13, primarily due to the corresponding rise in sales revenue[34]. - The total sales expenses rose by 36.23% to ¥5,709,752.17, driven by increased market development and service costs[34]. - Research and development expenses grew by 27.78% to ¥4,937,608.85, reflecting the company's commitment to new product development[34]. - The financial expenses for the first half of 2019 were CNY 330,968.94, slightly up from CNY 330,800.93 in the first half of 2018[118]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares[5]. - The total number of ordinary shareholders at the end of the reporting period is 8,560[87]. - The largest shareholder, Yu Xiaoqing, holds 28.59% of the shares, totaling 19,059,470 shares[87]. - The total number of restricted shares at the end of the period is 27,624,263 shares, with 522,202 shares newly added during the period[85]. Market and Business Strategy - The main business involves the research, production, and sales of hydraulic lifters for tractors, focusing on medium and large horsepower products[24]. - The primary performance driver is the national emphasis on agriculture as a priority in economic development[24]. - The company aims to maintain its leading position in the industry by actively expanding its customer base[55]. - The company plans to adjust its product structure by adding automotive parts products to mitigate market risks[55]. Compliance and Governance - The financial report for the first half of 2019 was not audited, which may affect the reliability of the financial data presented[101]. - The company has not experienced any major litigation or arbitration matters during the reporting period[62]. - The company has not engaged in any significant related party transactions during the reporting period[66]. - The company has not implemented any employee incentive plans or stock ownership plans during the reporting period[65]. Accounting Policies - The company uses Renminbi as its functional currency for accounting purposes[147]. - The company recognizes financial assets based on specific criteria, classifying them as either measured at amortized cost or at fair value with changes recognized in other comprehensive income[156]. - The company has established accounting policies for foreign currency transactions, converting them at the spot exchange rate on the transaction date[155]. - Revenue from sales is recognized when the significant risks and rewards of ownership have transferred to the buyer[194].

Revenue and Profit - Revenue for Q1 2019 was CNY 89,947,001.60, an increase of 23.01% compared to CNY 73,122,543.79 in the same period last year[8] - Net profit attributable to shareholders decreased by 75.70% to CNY 1,817,715.51 from CNY 7,480,215.63 year-on-year[8] - Net profit excluding non-recurring items dropped by 95.61% to CNY 267,507.50 from CNY 6,100,217.15 in the previous year[8] - Operating income decreased by ¥488,265.91, a reduction of 32.63% compared to the same period last year, primarily due to higher fiscal subsidies received in the previous period[17] - Net profit decreased by ¥5,662,500.12, a decline of 75.70% year-on-year, primarily attributed to rising raw material steel prices[17] - For the first half of 2019, the net profit is expected to be positive but down by more than 50% year-on-year, with a range of ¥240.48 million to ¥961.92 million[20] - The significant decline in profit is attributed to the continued high costs of major raw materials like steel and changes in the sales mix of products with different gross margins[20] - Total profit for the current period was ¥2,223,160.15, a decrease from ¥8,826,184.64 in the previous period, representing a decline of approximately 74.8%[43] Cash Flow - Operating cash flow improved by 77.18%, with a net cash flow of CNY -4,286,841.07 compared to CNY -18,785,855.13 last year[8] - Net cash flow from operating activities increased by ¥14,499,014.06, an increase of 77.18% year-on-year, mainly due to an increase in cash received and matured acceptance[17] - Net cash flow from investing activities decreased by ¥50,754,837.73, a decrease of 100.12% year-on-year, primarily because there were no investment financial funds in the previous period[17] - Net cash flow from financing activities decreased by ¥6,131,546.53, a decrease of 100.00% year-on-year, mainly due to loan repayments in the current period[17] - Net increase in cash and cash equivalents decreased by ¥42,387,370.20, a decrease of 111.43% year-on-year, primarily due to the maturity of financial funds in the previous period[17] - The net cash flow from operating activities was negative at -¥4,286,841.07, an improvement compared to -¥18,785,855.13 in the previous period[48] - Total cash inflow from investment activities was 120,560,925.11 CNY, significantly higher than 51,034,794.52 CNY in the same period last year[51] - The net cash flow from financing activities was 6,138,334.33 CNY, with total cash inflow of 16,425,400.00 CNY and outflow of 10,287,065.67 CNY[52] Assets and Liabilities - Total assets increased by 1.45% to CNY 647,613,690.07 from CNY 638,377,245.08 at the end of the previous year[8] - The company's total assets as of March 31, 2019, were CNY 644,656,003.14, compared to CNY 637,864,116.91 at the end of 2018[36] - The company's total liabilities as of March 31, 2019, were CNY 111,975,695.25, compared to CNY 107,362,703.10 at the end of 2018[35] - Total liabilities and owner's equity reached CNY 637,864,116.91, remaining stable[59] Expenses - The company reported a 36.12% increase in operating costs, amounting to CNY 21,229,156.15, primarily due to increased sales revenue[16] - Sales expenses rose by 85.67% to CNY 1,376,456.12, mainly due to increased freight costs[16] - Research and development expenses for Q1 2019 were CNY 2,522,943.45, an increase from CNY 2,107,707.52 in the same period last year[37] - Cash outflow for purchasing goods and services was 29,246,671.40 CNY, compared to 25,586,936.03 CNY in the previous year[51] Earnings Per Share - Basic and diluted earnings per share fell by 72.73% to CNY 0.03 from CNY 0.11 in the same quarter last year[8] - Basic earnings per share for Q1 2019 were CNY 0.03, down from CNY 0.11 in Q1 2018[40] - The basic earnings per share decreased to ¥0.03 from ¥0.12, reflecting a decline of 75.0%[44] Other Income and Investment - Government subsidies recognized in the current period amounted to CNY 300,516.07[9] - Investment income decreased by 45.79% to CNY 473,869.41, attributed to reduced financial management income[16] - Investment income for the current period was ¥560,925.11, down from ¥1,034,794.52, indicating a decrease of approximately 45.5%[42] - The company reported other income of ¥300,516.07, up from ¥200,516.07 in the previous period, which is an increase of 50.0%[42] Accounts Receivable and Inventory - Current assets increased to CNY 463,524,836.95 in Q1 2019, up from CNY 453,337,936.63 at the end of 2018[34] - Accounts receivable rose to CNY 160,180,706.79 in Q1 2019, compared to CNY 145,164,982.36 at the end of 2018, reflecting a growth of 10.5%[33] - Inventory decreased to CNY 115,419,312.62 in Q1 2019 from CNY 120,338,860.00 at the end of 2018, a decline of 4.8%[34] Audit and Standards - The first quarter report was not audited, indicating a lack of external verification[60] - The company implemented new financial instrument standards starting January 1, 2019, with no retrospective adjustments required[59] - The company has no adjustments related to the new financial instruments, revenue, and leasing standards as of January 1, 2019[55]

Financial Performance - The company's operating revenue for 2018 was ¥239,341,500.49, a decrease of 15.58% compared to ¥283,498,472.62 in 2017[18] - The net profit attributable to shareholders for 2018 was ¥28,125,620.02, down 29.87% from ¥40,102,577.01 in 2017[18] - The net profit after deducting non-recurring gains and losses was ¥6,556,761.05, a significant decline of 80.21% from ¥33,133,100.72 in 2017[18] - The net cash flow from operating activities was ¥4,121,430.46, representing an 81.07% decrease compared to ¥21,771,928.48 in 2017[18] - Basic earnings per share for 2018 were ¥0.42, down 40.00% from ¥0.70 in 2017[18] - The weighted average return on equity for 2018 was 5.43%, down from 10.45% in 2017, a decrease of 5.02%[18] - The company reported a total revenue of 143,911,848.56 CNY for the period, with a significant increase from the previous year's reported amount of 94,493,062.93 CNY, reflecting a growth of approximately 52.5%[84] - The company’s total revenue for 2018 was CNY 226,074,256.37, primarily from sales of components to large and medium-sized tractor manufacturers in China[171] - The net profit for the year was CNY 28,570,029.61, a decrease of 28.9% compared to CNY 40,119,295.11 in the previous year[194] Assets and Liabilities - Total assets at the end of 2018 were ¥638,377,245.08, an increase of 5.62% from ¥604,399,119.90 at the end of 2017[18] - The total liabilities reached CNY 108.22 million, reflecting an increase of 8.94% year-on-year[37] - The company's total assets at the end of 2018 were ¥638,000,000, with cash and cash equivalents decreasing by 11% to ¥38,179,368.71[57] - Total assets as of December 31, 2018, amounted to RMB 638,377,245.08, an increase from RMB 604,399,119.90 at the beginning of the year, reflecting a growth of approximately 5.5%[180] - Total liabilities reached RMB 108,219,780.58, compared to RMB 99,334,825.51 at the beginning of the year, reflecting an increase of approximately 8.9%[183] Cash Flow - The net cash flow from operating activities decreased by 81.07% to ¥4,121,430.46, primarily due to increased procurement payments from rising raw material costs[55] - Cash flow from operating activities generated a net cash inflow of CNY 4,121,430.46, a decrease of 81.1% from CNY 21,771,928.48[198] - The company reported cash and cash equivalents at the end of the period of CNY 38,179,368.71, down from CNY 95,501,985.96 at the beginning of the year[199] Research and Development - The company's R&D investment for 2018 was ¥7,532,215.63, accounting for 3.15% of total revenue, a decrease of 32.29% compared to 2017[52] - Research and development expenses for the period amounted to 7,532,215.63 CNY, a decrease from the previous year's 11,123,722.75 CNY, indicating a reduction of about 32.5%[84] - The company is focused on research and development in electric hydraulic control systems and load sensing technology, indicating a commitment to innovation[31] Market Position and Strategy - The company has established stable partnerships with eight of the top ten tractor manufacturers in China, enhancing its customer base and market position[32] - The company has developed three invention patents in hydraulic lifting technology and is a leader in the domestic market for tractor hydraulic lifters[31] - The company launched multiple new products, including hydraulic lifters and hydraulic valves, which received significant attention at the China International Agricultural Machinery Exhibition[38] - The company has strengthened its internal management and adjusted its operational strategy to enhance market competitiveness[37] Dividend Policy - The company plans not to distribute cash dividends or issue bonus shares[5] - No cash dividends were distributed in 2018, with the company focusing on maintaining liquidity for future development[75] - The company plans to retain undistributed profits to enhance financial stability and support ongoing operations[75] Risk Management - The company has identified significant risk factors that may adversely affect its future development strategy and operational goals[4] - The company faces market risks, including reliance on the tractor mainframe market and competition risks[69] - Financial risks include inventory depreciation and accounts receivable credit risks[71] Governance and Compliance - The company has a governance structure that complies with relevant laws and regulations, ensuring transparency and effective internal control[147] - The company has maintained a stable relationship with its auditors, with the current auditing firm providing services for 8 years and the lead auditors for 5 years[84] - The company has established internal controls to ensure accurate revenue recognition, which is critical due to varying acceptance criteria with different customers[171] Employee and Management Structure - The total number of employees in the company is 628, with 606 in the parent company and 22 in major subsidiaries[141] - The company has a professional composition of 362 production personnel, 20 sales personnel, 168 technical personnel, 6 financial personnel, and 72 administrative personnel[141] - The company emphasizes talent development and conducts basic training for new employees, focusing on skills, safety management, and risk awareness[144]

Financial Performance - Operating income for the reporting period was CNY 54,045,479.04, a slight increase of 1.96% year-on-year, while year-to-date revenue decreased by 26.94% to CNY 178,377,285.52[9] - Net profit attributable to shareholders decreased by 71.96% to CNY 3,042,765.92 for the reporting period, and year-to-date net profit decreased by 29.87% to CNY 27,090,720.66[9] - Basic earnings per share fell by 74.67% to CNY 0.0456 for the reporting period, and year-to-date basic earnings per share decreased by 43.06%[9] - The weighted average return on net assets was 0.59%, down by 2.04% compared to the same period last year[9] - The expected net profit attributable to shareholders for 2018 is projected to decrease by 35.00% to 5.00%, with an estimated range of 2,606.67 to 3,809.75 million CNY[22] - The company anticipates a decline in gross profit margin due to high steel prices, impacting net profit compared to the previous year[22] Cash Flow and Investments - The net cash flow from operating activities for the reporting period was CNY 2,029,138.78, an increase of 109.20% year-on-year, while year-to-date cash flow from operating activities showed a significant decline of 2,322.73% to CNY -20,454,072.47[9] - Cash and cash equivalents decreased by 68,623,077.88 CNY, a reduction of 66.87% compared to the beginning of the year, primarily due to increased investments in financial products[17] - Investment income increased by 4,443,184.93 CNY, a 100.00% increase year-on-year, primarily from financial product returns[18] - Total cash inflow from investment activities increased by 184,443,184.93 CNY, a 100.00% increase year-on-year, mainly from the recovery of principal and returns from financial products[19] - Operating cash flow net amount decreased by 19,692,366.10 CNY, a decrease of 2585.30% year-on-year, mainly due to increased payments for raw material purchases[18] Shareholder Information - The total number of shareholders at the end of the reporting period was 10,304[13] - The largest shareholder, Yu Xiaoqing, holds 28.59% of the shares, amounting to 19,059,475 shares[13] - The company did not engage in any repurchase transactions during the reporting period[14] Assets and Liabilities - Total assets increased by 7.32% to CNY 648,645,192.50 compared to the end of the previous year[9] - Accounts receivable increased by 24,791,628.00 CNY, up 34.57% year-on-year, mainly due to an increase in outstanding receivables[17] - Short-term borrowings decreased by 10,000,000.00 CNY, a reduction of 40.00% compared to the beginning of the year, primarily due to decreased bank loans[17] Non-Recurring Items and Tax - Non-recurring gains and losses totaled CNY 19,699,403.13, with government subsidies contributing CNY 18,701,948.21[10] - The company reported a significant reduction in tax expenses by 21,635,872.97 CNY, a decrease of 81.75% year-on-year, due to reduced VAT and tax relief policies[18] Financial Management - The company has invested a total of 230,000,000 CNY in entrusted financial management products, with an outstanding balance of 160,000,000 CNY[26]

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 124,331,806.48, a decrease of 34.96% compared to CNY 191,150,652.73 in the same period last year[17]. - The net profit attributable to shareholders for the first half of 2018 was CNY 24,047,954.74, down 13.44% from CNY 27,781,224.92 year-on-year[17]. - The net profit after deducting non-recurring gains and losses was CNY 7,109,697.35, a significant decline of 73.98% compared to CNY 27,325,391.41 in the previous year[17]. - The net cash flow from operating activities was negative CNY 22,483,211.25, a decrease of 205.55% compared to CNY 21,300,371.55 in the same period last year[17]. - The basic earnings per share for the first half of 2018 were CNY 0.36, a decrease of 35.71% compared to CNY 0.56 in the same period last year[17]. - Total operating revenue for the first half of 2018 was CNY 124,331,806.48, a decrease of 34.9% compared to CNY 191,150,652.73 in the same period of 2017[118]. - Net profit for the first half of 2018 was CNY 24,047,954.74, down 13.3% from CNY 27,781,224.92 in the previous year[119]. - Total profit for the first half of 2018 was CNY 28,023,623.76, slightly down from CNY 32,190,436.47 in the previous year[118]. Revenue Breakdown - Large horsepower lifters generated revenue of ¥25,679,881.15, down 48.32% from ¥49,690,375.91 year-on-year[39]. - Medium horsepower lifters saw revenue decline by 53.47%, totaling ¥51,609,433.88 compared to ¥110,917,619.66 in the previous year[40]. - Engine parts revenue increased significantly by 4,093.94%, reaching ¥15,164,076.45 from ¥361,570.93 last year[39]. - Revenue from the East China region was ¥99,990,860.66, a decrease of 29.17% from ¥141,178,524.14 year-on-year[39]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 625,833,882.26, an increase of 3.55% from CNY 604,399,119.90 at the end of the previous year[17]. - The net assets attributable to shareholders at the end of the reporting period were CNY 525,354,141.59, up 4.02% from CNY 505,064,294.39 at the end of the previous year[17]. - Total current assets increased to CNY 440,432,904.20 from CNY 418,321,374.60, representing a growth of approximately 4.67%[109]. - Total liabilities increased slightly to CNY 100,479,740.67 from CNY 99,334,825.51, a rise of approximately 1.15%[110]. - Owner's equity rose to CNY 525,354,141.59 from CNY 505,064,294.39, showing an increase of about 4.83%[111]. Cash Flow - The company reported a significant increase in cash outflow for purchasing goods and services, totaling 58,615,052.05 CNY, compared to 15,134,711.13 CNY previously[126]. - The total cash outflow from operating activities was 81,368,073.81 CNY, compared to 55,092,518.22 CNY in the previous period[126]. - The ending balance of cash and cash equivalents was 70,055,185.81 CNY, down from 95,501,985.96 CNY at the beginning of the period[127]. Investment and R&D - The company reduced its R&D investment by 46.39%, totaling CNY 3.86 million during the reporting period[37]. - The company reported investment income of ¥1,402,465.75, contributing 5.00% to total profit, primarily from financial product returns[42]. Market Position and Strategy - The company has established stable partnerships with 8 out of the top 10 tractor manufacturers in China, enhancing its market position[30]. - The company plans to adjust its product structure by adding automotive parts to mitigate market risks and maintain its leading position in the industry[62]. - The company plans to focus on market expansion and new product development in the upcoming periods[120]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 10,724[93]. - The largest shareholder, Yu Xiaoqing, holds 28.59% of the shares, totaling 19,059,470 shares[93]. - The total number of shares is 66,670,000, with 75% being limited shares[90]. Compliance and Governance - There were no significant legal disputes or penalties reported during the period, reflecting stable operational compliance[69][70]. - The company has not engaged in any major asset or equity acquisitions during the reporting period, maintaining a conservative approach to expansion[72][73]. - The financial report for the first half of the year has not been audited[106]. Risk Factors - The company faces several risks, including market competition, reliance on the tractor market, and fluctuations in raw material prices[62]. - The expected decline in gross margin is attributed to the ongoing increase in raw material prices, which is anticipated to impact overall profitability[60].

1 山东弘宇农机股份有限公司 2018 年第一季度报告正文 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。 山东弘宇农机股份有限公司 2018 年第一季度报告正文 证券代码：002890 证券简称：弘宇股份 公告编号：2018-020 山东弘宇农机股份有限公司 2018 年第一季度报告正文 2018 年 04 月 公司负责人柳秋杰、主管会计工作负责人王铁成及会计机构负责人(会计主 管人员)孙建杰声明：保证季度报告中财务报表的真实、准确、完整。 2 山东弘宇农机股份有限公司 2018 年第一季度报告正文 第二节 公司基本情况 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） | 73,122,543.79 | 98,149,735.92 | -25.50% | | 归属于上市 ...

Financial Performance - The company's operating revenue for 2017 was CNY 283,498,472.62, representing a 0.61% increase compared to CNY 281,783,923.67 in 2016[15]. - The net profit attributable to shareholders for 2017 was CNY 40,102,577.01, which is a 6.17% increase from CNY 37,773,347.90 in 2016[15]. - The net profit after deducting non-recurring gains and losses decreased by 10.46% to CNY 33,133,100.72 from CNY 37,004,001.08 in 2016[15]. - The net cash flow from operating activities fell by 43.76% to CNY 21,771,928.48 compared to CNY 38,709,636.81 in 2016[15]. - Basic earnings per share decreased by 7.89% to CNY 0.70 from CNY 0.76 in 2016[15]. - Total assets increased by 48.59% to CNY 604,399,119.90 at the end of 2017, up from CNY 406,764,714.19 at the end of 2016[15]. - The net assets attributable to shareholders rose by 73.36% to CNY 505,064,294.39 from CNY 291,343,534.67 in 2016[15]. - The weighted average return on equity decreased to 10.45% from 13.36% in 2016, a decline of 2.91%[15]. Cash Flow and Investment - The company reported a significant increase in revenue from other products, which grew by 41.97% to 53,691,652.19 CNY[42]. - Operating cash inflow decreased by 8.86% to ¥132,035,204.67, while cash outflow increased by 3.87% to ¥110,263,276.19, resulting in a net cash flow of ¥21,771,928.48, down 43.76%[53]. - Investment cash inflow dropped by 100% to ¥0, while cash outflow surged by 980.25% to ¥112,258,828.40, leading to a net cash flow of -¥112,258,828.40, an increase of 991.06%[54][55]. - Financing cash inflow increased by 523.17% to ¥218,109,200.00, with net cash flow from financing activities rising by 1,763.67% to ¥163,878,508.21[56][57]. - Cash and cash equivalents increased by 295.21% to ¥73,391,608.29, primarily due to funds raised from the company's IPO[58]. Dividend Policy - The company plans to distribute a cash dividend of CNY 0.60 per 10 shares, based on a total of 66,670,000 shares[5]. - The net profit for 2017 was reported at 40,102,577.01 RMB, with a cash dividend payout ratio of 9.97% of the net profit attributable to shareholders[80]. - The company did not distribute any dividends in 2015, while in 2016, it distributed 11,000,000 RMB, which was 29.12% of the net profit[80]. - The company has a cumulative undistributed profit of 203,355,793.92 RMB as of December 31, 2017[82]. Market Position and Risks - The company has established stable partnerships with 8 out of the top 10 tractor manufacturers in China, enhancing its customer base and market position[30]. - The company faces market risks including reliance on the tractor main engine market and competition risks[71]. - Operational risks include fluctuations in raw material prices and high customer concentration[71]. - Financial risks involve inventory devaluation and accounts receivable credit risks[71]. - The company is subject to policy risks related to changes in national agricultural machinery subsidy policies[72]. Research and Development - The company has invested in research and development, achieving 3 invention patents and focusing on advanced technologies such as electro-hydraulic suspension control systems[29]. - R&D investment amounted to 11,123,700 CNY, representing 3.92% of total operating revenue for the year[50]. - R&D investment decreased by 8.90% to ¥11,123,722.75, representing 3.92% of operating revenue[51]. Corporate Governance - The company adheres to legal regulations and continuously enhances its corporate governance structure, ensuring compliance with relevant laws[168]. - The independent directors attended all board meetings and shareholder meetings, demonstrating active engagement in corporate governance[177]. - The audit committee reviewed the 2016 audit report and the internal audit plan for 2017, ensuring financial oversight[180]. - The company maintains complete independence from its controlling shareholder in business, personnel, assets, and finances[175]. Employee Structure and Management - The total number of employees in the company is 578, with 556 in the parent company and 22 in major subsidiaries[162]. - The professional composition includes 313 production personnel, 19 sales personnel, 192 technical personnel, 5 financial personnel, and 49 administrative personnel[162]. - The company emphasizes talent development and employee training, focusing on improving overall quality and work efficiency[165]. - The total remuneration for directors and senior management during the reporting period amounts to 151.05 million yuan[161]. Audit and Internal Control - The company received a standard unqualified opinion from the auditing firm, indicating that the financial statements fairly reflect the company's financial position[192]. - The internal control self-evaluation report was disclosed on April 9, 2018, confirming the effectiveness of financial reporting controls[186]. - The audit report highlighted the importance of revenue recognition, particularly due to the varying acceptance methods agreed upon with different customers[197]. - The company's internal control system maintained effectiveness in all material aspects as of December 31, 2017[188].

山东弘宇农机股份有限公司 2017 年第三季度报告正文 证券代码：002890 证券简称：弘宇股份 公告编号：2017-016 山东弘宇农机股份有限公司 2017 年第三季度报告正文 2017 年 10 月 1 山东弘宇农机股份有限公司 2017 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。 公司负责人于晓卿、主管会计工作负责人刘志鸿及会计机构负责人(会计主 管人员)孙建杰声明：保证季度报告中财务报表的真实、准确、完整。 2 山东弘宇农机股份有限公司 2017 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 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 599,326,340.73 | | 406,764,714.19 | 47.3 ...