二、交易进展 截至本公告披露日，达奥汽车股权转让的工商变更登记手续已办理完成，公司已收到奇瑞 科技向公司支付的全额股权转让款。本次股权转让完成后，公司不再持有达奥汽车股权，原计 划的公司投资至达奥汽车的股权资金部分用于达奥汽车与公司通过共同合资方式设立合资公 司（截至目前尚未设立）事项取消，即公司不再与达奥汽车共同投资设立合资公司。 证券代码：002997 证券简称：瑞鹄模具 公告编号：2024-078 瑞鹄汽车模具股份有限公司 关于转让参股公司股权暨关联交易完成的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、误 导性陈述或重大遗漏。 一、股权转让暨关联交易概述 瑞鹄汽车模具股份有限公司（以下简称"公司"）于2024年6月27日召开第三届董事会第 二十一次会议，审议通过了《关于转让参股公司股权暨关联交易的议案》，同意公司以 43,110,000.00元的价格向芜湖奇瑞科技有限公司（以下简称"奇瑞科技"）转让公司持有的 达奥（芜湖）汽车制品有限公司（以下简称"达奥汽车"）全部40%的股权。具体内容详见公 司在指定信息披露媒体及巨潮资讯网（www.cninfo.com.cn）披露的 ...

证券代码：002997 证券简称：瑞鹄模具 公告编号：2024-077 瑞鹄汽车模具股份有限公司 2024年第三次临时股东大会决议公告 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。 特别提示： 1.本次股东大会无否决提案的情形。 2.本次股东大会未涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 1.会议召集人：瑞鹄汽车模具股份有限公司（以下简称"公司"）董事会； 2.会议主持人：公司董事长柴震先生； 3.现场会议召开时间：2024年9月6日（星期五）下午14:30； 4.现场会议召开地点：瑞鹄汽车模具股份有限公司会议室； 5.网络投票时间： （1）通过深圳证券交易所交易系统进行网络投票的具体时间为2024年9月6 日的交易时间，即9:15-9:25，9:30—11:30和13:00—15:00； （2）通过深圳证券交易所互联网投票系统进行网络投票的开始时间为2024 年9月6日上午9:15，结束时间为2024年9月6日下午3:00。 6.召开方式：现场会议与网络投票相结合的方式。 7.本次股东大会的召集和召开符合《公司法》、《上市公司股东大会规则 ...

中国北京市朝阳区建国路 77 号华贸中心 3 号写字楼 34 层 邮政编码 100025 电话：（86-10）5809-1000 传真：（86-10）5809-1100 北京市竞天公诚律师事务所 关于瑞鹄汽车模具股份有限公司 2024年第三次临时股东大会的法律意见书 致：瑞鹄汽车模具股份有限公司 北京市竞天公诚律师事务所（以下简称"本所"）接受瑞鹄汽车模具股份有限 公司（以下简称"公司"）的委托，指派本所律师列席公司于 2024 年 9 月 6 日下 午 14 时 30 分在瑞鹄汽车模具股份有限公司会议室召开的 2024 年第三次临时股 东大会（以下称"本次股东大会"），并依据《中华人民共和国公司法》等中国法 律、法规和相关规范性文件（以下称"中国法律法规"）及《瑞鹄汽车模具股份有 限公司章程》（以下称"公司章程"）的规定，就本次股东大会的召集和召开程序、 出席会议人员资格、召集人资格、会议表决程序和表决结果等事宜（以下称"程 序事宜"）出具本法律意见书。 为出具本法律意见书，本所律师审查了公司提供的有关本次股东大会的文件， 包括但不限于公司第三届董事会第二十二次会议决议公告、第三届监事会第十九 次会议决议公 ...

Investment Rating - The report maintains a "Buy" rating for the company [3][6]. Core Views - The company benefited from the sales growth of Chery, with a significant increase in the proportion of its parts business [2]. - The manufacturing equipment business has seen a continuous increase in orders, with a backlog of 3.93 billion yuan, up 14.95% from the previous year [2]. - The lightweight parts business is entering a rapid growth phase, contributing 22.97% to total revenue in the first half of 2024, an increase of 14.28 percentage points year-on-year [2]. Summary by Sections Financial Performance - In the first half of 2024, the company achieved revenue of 1.121 billion yuan, a year-on-year increase of 30.45%, and a net profit attributable to shareholders of 162 million yuan, up 79.35% [1]. - For Q2 2024, revenue reached 615 million yuan, a year-on-year increase of 29.46% and a quarter-on-quarter increase of 21.70% [1]. Business Segments - The manufacturing equipment segment has improved in technical development, delivery capability, market expansion, and customer service, leading to a strong order intake [2]. - The lightweight parts segment has ramped up production capacity significantly in 2024, with revenue from automotive parts reaching 257 million yuan in the first half of 2024 [2]. Market Outlook - Chery's vehicle sales from January to July 2024 reached 1,296,380 units, a year-on-year increase of 45.4%, with electric vehicle sales growing by 193.7% [2]. - The company is expected to continue benefiting from Chery's sales growth, with increasing revenue from major clients [2]. Profit Forecast - Projected revenues for 2024, 2025, and 2026 are 2.667 billion yuan, 3.405 billion yuan, and 4.164 billion yuan, respectively, with net profits of 325 million yuan, 391 million yuan, and 489 million yuan [3]. - The estimated earnings per share for the same years are 1.55 yuan, 1.87 yuan, and 2.34 yuan, with corresponding P/E ratios of 17.17, 14.30, and 11.42 [3].

Investment Rating - The report maintains a "Buy" rating for the company, with an expected price-to-earnings (PE) ratio of 17/13/10 times for the years 2024-2026 [2][4]. Core Insights - The company's revenue for the first half of 2024 reached 1.12 billion yuan, representing a year-on-year increase of 30.45%. The equipment business generated 830 million yuan, up 7.7% year-on-year, while the automotive parts business saw a significant increase of 244.8% to 260 million yuan [1][2]. - The company reported a net profit attributable to shareholders of 162 million yuan for the first half of 2024, a year-on-year increase of 79.35% [1][2]. - The company has established a wholly-owned subsidiary in Singapore to enhance its international business and competitiveness [1][3]. Financial Performance Summary - For the second quarter of 2024, the company achieved a revenue of 615 million yuan, a year-on-year increase of 29.5% and a quarter-on-quarter increase of 21.7% [1]. - The gross profit margin for the second quarter of 2024 was 24.5%, up 4.8 percentage points year-on-year [1]. - The company’s total orders in the automotive manufacturing equipment business reached 3.93 billion yuan as of June 30, 2024, an increase of 14.95% from the end of the previous year [1]. Business Growth and Strategy - The company has focused on automotive manufacturing equipment, including stamping molds and automation production lines, with clients such as Volkswagen, Honda, and Geely [1]. - The automotive lightweight components business is gradually ramping up production, with related vehicle projects entering mass production [1][2]. - The partnership with Chery, a significant client, has contributed to the rapid growth of the company's automotive parts business, with Chery's sales increasing by 48.4% year-on-year in the first half of 2024 [2][3].

瑞鹄模具(002997. SZ) /汽车 证券研究报告/公司点评 业绩延续强劲,装备&零部件双轮驱动 2024年8月19日 | --- | --- | --- | --- | --- | --- | --- | |------------------------------------|------------------------------|-------|-------|-------|-------|-------| | 评级:增持(维持) \n市场价格:27.55元 | 公司盈利预测及估值 \n指标 | 2022A | 2023A | 2024E | 2025E | 2026E | | 分析师:何俊艺 | 营业收入(百万元) | 1,168 | 1,877 | 2,796 | 3,728 | 4.484 | | | 增长率 yoy% | 12% | 61% | 49% | 33% | 20% | | 执业证书编号:S0740523020004 | 净利润(百万元) | 140 | 202 | 337 | 446 | 547 | | 分析师:刘欣畅 | 增长车 yoy% | 22% | 44% | ...

Investment Rating - The report maintains a "Recommended" rating for the company, with a target price based on the closing price of 27.55 yuan on August 19, 2024, corresponding to PE ratios of 16, 13, and 10 for the years 2024, 2025, and 2026 respectively [2][4]. Core Insights - The company reported a revenue of 1.121 billion yuan for H1 2024, representing a year-on-year increase of 30.45%, and a net profit attributable to shareholders of 162 million yuan, up 79.35% year-on-year [2]. - The second quarter of 2024 saw revenue of 615 million yuan, a year-on-year increase of 29.46% and a quarter-on-quarter increase of 21.70%, primarily driven by increased sales from the client Chery [2]. - The company has established a wholly-owned subsidiary in Singapore to accelerate its globalization efforts, which aligns with its strategic development goals [2]. - The equipment business has a robust order backlog of 3.93 billion yuan, reflecting a year-on-year increase of 14.95%, indicating strong demand and capacity utilization [2]. Financial Performance Summary - For 2024, the company is projected to achieve revenues of 2.81 billion yuan, with net profits of 360 million yuan, and EPS of 1.71 yuan [3][5]. - The gross margin for Q2 2024 reached 24.49%, an increase of 4.84 percentage points year-on-year, while the net profit margin was 16.08%, up 4.37 percentage points year-on-year [2]. - The company’s investment income for H1 2024 was 37 million yuan, a year-on-year increase of 45.70%, contributing to overall performance growth [2].

1、2020 年首次公开发行股票募集资金情况 经中国证券监督管理委员会《关于核准瑞鹄汽车模具股份有限公司首次公开发行股 票的批复》（证监许可[2020]1071 号文）核准，公司于 2020 年 8 月向社会公开发行人民 币普通股（A 股）4,590.00 万股，每股发行价为 12.48 元，应募集资金总额为人民币 57,283.20 万元，根据有关规定扣除发行费用 7,677.20 万元后，实际募集资金金额为 49,606.00 万元。该募集资金已于 2020 年 8 月到账。上述资金到账情况业经容诚会计师 事务所（特殊普通合伙）容诚验字[2020]230Z0166 号《验资报告》验证。公司对募集资 金采取了专户存储管理。 证券代码：002997 证券简称：瑞鹄模具 公告编号：2024-073 瑞鹄汽车模具股份有限公司 关于 2024 年半年度募集资金存放与使用情况的专项报告 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。 根据深圳证券交易所《深圳证券交易所上市公司自律监管指引第 1 号——主板上市 公司规范运作》及《深圳证券交易所上市公司自律监管指南第 2 ...

[Section I Important Notes, Table of Contents, and Definitions](index=2&type=section&id=Section%20I%20Important%20Notes%2C%20Table%20of%20Contents%2C%20and%20Definitions) [Important Notes](index=2&type=section&id=Important%20Notes) The company's board, supervisory board, and senior management guarantee the semi-annual report's truthfulness, accuracy, and completeness, assuming legal responsibility, while facing various market and operational risks. - The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report, with no false records, misleading statements, or major omissions, and assume individual and joint legal responsibility[2](index=2&type=chunk) - The company primarily faces risks such as market fluctuations, cost fluctuations, bad debts from accounts receivable, quarterly performance volatility, and an increasing proportion of related party transactions[2](index=2&type=chunk) - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital[2](index=2&type=chunk) [Table of Contents](index=3&type=section&id=Table%20of%20Contents) This section lists the complete directory structure of the semi-annual report, covering ten chapters from important notes to financial reports, providing navigation for investors. - The report's table of contents clearly lists ten chapters, including important notes, company profile, management discussion and analysis, corporate governance, environmental and social responsibility, significant matters, changes in shares and shareholder information, preferred shares information, bond information, and financial report[3](index=3&type=chunk) [Directory of Reference Documents](index=4&type=section&id=Directory%20of%20Reference%20Documents) This section provides a list of reference documents for the semi-annual report, including signed financial statements, the full and summary reports, and other related materials, available at the company's board office. - Reference documents include financial statements signed and sealed by the company's legal representative, chief financial officer, and head of the accounting department[4](index=4&type=chunk) - Reference documents also include the full and summary semi-annual reports signed by the legal representative and sealed by the company, as well as originals of all company documents and announcements publicly disclosed on the information disclosure platform designated by the China Securities Regulatory Commission during the reporting period[4](index=4&type=chunk) - The aforementioned reference documents are available at the company's board of directors office[4](index=4&type=chunk) [Definitions](index=5&type=section&id=Definitions) This section defines key terms used in the report, including company names, reporting period, and major clients, as well as specialized terms like stamping dies and jigs. - "Rayhoo Mould", "the Company", and "this Company" all refer to Rayhoo Automotive Mould Co., Ltd[5](index=5&type=chunk) - The reporting period refers to January 1, 2024, to June 30, 2024[5](index=5&type=chunk) - Major clients include well-known domestic and international automotive brands such as Chery Automobile, NIO, Li Auto, XPeng, Xiaomi Auto, Mercedes-Benz, BMW, Audi, Volkswagen, Toyota, and Ford[5](index=5&type=chunk) [Section II Company Profile and Key Financial Indicators](index=7&type=section&id=Section%20II%20Company%20Profile%20and%20Key%20Financial%20Indicators) [1. Company Profile](index=7&type=section&id=1.%20Company%20Profile) Rayhoo Automotive Mould Co., Ltd. (Stock Code: 002997) is listed on the Shenzhen Stock Exchange, with Chai Zhen as its legal representative. Company Basic Information | Indicator | Content | | :--- | :--- | | Stock Abbreviation | Rayhoo Mould | | Stock Code | 002997 | | Listing Exchange | Shenzhen Stock Exchange | | Chinese Name | 瑞鹄汽车模具股份有限公司 | | Legal Representative | Chai Zhen | [2. Contact Persons and Information](index=7&type=section&id=2.%20Contact%20Persons%20and%20Information) The company's Board Secretary is He Zhangyong, and Securities Affairs Representative is Li Jiang, both located at No. 22 Yinhu North Road, Wuhu, with shared contact details. Contact Information | Position | Name | Contact Address | Phone | Fax | Email | | :--- | :--- | :--- | :--- | :--- | :--- | | Board Secretary | He Zhangyong | No. 22 Yinhu North Road, Wuhu Area, China (Anhui) Pilot Free Trade Zone | 0553-5623207 | 0553-5623209 | bodo@rayhoo.net | | Securities Affairs Representative | Li Jiang | No. 22 Yinhu North Road, Wuhu Area, China (Anhui) Pilot Free Trade Zone | 0553-5623207 | 0553-5623209 | bodo@rayhoo.net | [3. Other Information](index=7&type=section&id=3.%20Other%20Information) The company's registered address, office address, website, and information disclosure locations remained unchanged during the reporting period. - The company's registered address, office address and its postal code, company website, and email address remained unchanged during the reporting period[10](index=10&type=chunk) - Information disclosure and reference locations remained unchanged during the reporting period, as detailed in the 2023 Annual Report[11](index=11&type=chunk) [4. Key Accounting Data and Financial Indicators](index=8&type=section&id=4.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) In H1 2024, revenue grew by 30.45% to 1.12 billion yuan, net profit attributable to shareholders increased by 79.35% to 161.74 million yuan, while operating cash flow was negative. 2024 Semi-Annual Key Accounting Data and Financial Indicators | Indicator | Current Reporting Period (yuan) | Prior Year Same Period (yuan) | Change from Prior Year Same Period | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,120,967,709.73 | 859,292,731.36 | 30.45% | | Net Profit Attributable to Listed Company Shareholders | 161,738,318.44 | 90,182,769.17 | 79.35% | | Net Profit Attributable to Listed Company Shareholders After Deducting Non-Recurring Gains and Losses | 152,848,279.08 | 78,084,092.41 | 95.75% | | Net Cash Flow from Operating Activities | -28,972,442.85 | 72,760,546.15 | -139.82% | | Basic Earnings Per Share (yuan/share) | 0.79 | 0.49 | 61.22% | | Diluted Earnings Per Share (yuan/share) | 0.79 | 0.47 | 68.09% | | Weighted Average Return on Net Assets | 8.66% | 6.56% | 2.10% | | **End of Current Reporting Period** | | **End of Prior Year** | **Change from End of Prior Year** | | Total Assets | 5,607,770,241.64 | 5,243,833,307.83 | 6.94% | | Net Assets Attributable to Listed Company Shareholders | 1,972,817,064.66 | 1,702,412,365.47 | 15.88% | [5. Differences in Accounting Data under Domestic and Overseas Accounting Standards](index=8&type=section&id=5.%20Differences%20in%20Accounting%20Data%20under%20Domestic%20and%20Overseas%20Accounting%20Standards) The company reported no differences in net profit and net assets between international/overseas accounting standards and Chinese accounting standards. - The company had no differences in net profit and net assets between financial reports disclosed under international accounting standards and those under Chinese accounting standards during the reporting period[14](index=14&type=chunk) - The company had no differences in net profit and net assets between financial reports disclosed under overseas accounting standards and those under Chinese accounting standards during the reporting period[14](index=14&type=chunk) [6. Non-Recurring Gains and Losses Items and Amounts](index=8&type=section&id=6.%20Non-Recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) Non-recurring gains and losses totaled 8.89 million yuan, primarily from government grants, fair value changes of financial assets, and other non-operating income/expenses. Non-Recurring Gains and Losses Items and Amounts | Item | Amount (yuan) | | :--- | :--- | | Gains and losses from disposal of non-current assets | -38,800.51 | | Government grants recognized in current profit or loss | 5,519,864.89 | | Gains and losses from changes in fair value of financial assets and liabilities held by non-financial enterprises, and gains and losses from disposal of financial assets and liabilities | 4,886,461.88 | | Reversal of impairment provisions for accounts receivable subject to separate impairment testing | 77,948.72 | | Other non-operating income and expenses apart from the above | 1,315,392.95 | | Other gains and losses items that meet the definition of non-recurring gains and losses | 602,041.06 | | Less: Income tax impact | 1,882,960.80 | | Impact on minority interests (after tax) | 1,589,908.83 | | **Total** | **8,890,039.36** | - Value-added tax refunds (1,886,676.74 yuan) and amortization of asset-related government grants (2,623,458.93 yuan) are classified as recurring gains and losses because they are related to daily operations and are expected to be continuously obtained or have a continuous impact on the company's profit and loss[17](index=17&type=chunk) [Section III Management Discussion and Analysis](index=10&type=section&id=Section%20III%20Management%20Discussion%20and%20Analysis) [1. Principal Businesses During the Reporting Period](index=10&type=section&id=1.%20Principal%20Businesses%20During%20the%20Reporting%20Period) The company's main businesses are automotive manufacturing equipment and lightweight automotive components, both achieving significant revenue and net profit growth in H1. - The company's principal businesses are automotive manufacturing equipment (stamping dies and jigs, welding automation production lines, intelligent special machines, and AGV mobile robots, etc.) and lightweight automotive components (high-strength steel and aluminum alloy stamping and welding components, aluminum alloy precision casting components, etc.)[18](index=18&type=chunk) 2024 Semi-Annual Key Financial Performance | Indicator | Amount (million yuan) | Year-on-Year Growth | | :--- | :--- | :--- | | Operating Revenue | 1,120.97 | 30.45% | | Net Profit Attributable to Listed Company Shareholders | 161.74 | 79.35% | | Net Profit Attributable to Listed Company Shareholders After Deducting Non-Recurring Gains and Losses | 152.85 | 95.75% | | Automotive Manufacturing Equipment Order Backlog | 3.93 billion yuan | 14.95% | - The automotive manufacturing equipment business has a sufficient order backlog and saturated production capacity, indicating strong future revenue predictability; the automotive lightweight components business is gradually increasing its production capacity, with multiple vehicle models already in mass production and continuous new model projects being undertaken[18](index=18&type=chunk)[20](index=20&type=chunk) - The company adopts a direct sales model, primarily serving automotive OEMs as a Tier 1 supplier, with new clients including Toyota Motor, Dacia, and local brands in "Belt and Road" countries or regions, covering mainstream domestic and new energy brands[19](index=19&type=chunk)[20](index=20&type=chunk) [2. Analysis of Core Competencies](index=11&type=section&id=2.%20Analysis%20of%20Core%20Competencies) The company's core strengths include integrated "equipment + components" services, advanced technology, extensive project experience, strong brand, and a stable, experienced management and technical team. - The company provides integrated "equipment + components" supporting services, being one of the few domestic enterprises capable of simultaneously offering high-end manufacturing equipment for automotive white bodies, intelligent manufacturing technology and overall solutions, and lightweight component supply[21](index=21&type=chunk) - The company possesses advanced technology platforms such as a national enterprise technology center and a national-local joint engineering research center, achieving CAD/CAE/CAM integration and three-dimensional, integrated, and automated mould design and manufacturing[22](index=22&type=chunk) - The company has accumulated rich technical and project experience in automotive manufacturing equipment and lightweight components, developing body material forming equipment for over 100 vehicle models and more than 50 body welding automation production lines globally[23](index=23&type=chunk) - The company has established high brand recognition and good customer cooperation relationships, particularly in the new energy vehicle sector, where it has successfully expanded to many leading OEMs and new car manufacturers[24](index=24&type=chunk)[25](index=25&type=chunk) - The company's management and core technical team are stable, possessing extensive industry experience and market foresight, with team stability maintained through equity incentive mechanisms[26](index=26&type=chunk) [3. Analysis of Principal Business](index=13&type=section&id=3.%20Analysis%20of%20Principal%20Business) H1 2024 revenue grew by 30.45%, driven by increased orders in automotive manufacturing equipment and mass production in automotive components, with domestic sales up 38.46%. Major Financial Data Year-on-Year Changes | Indicator | Current Reporting Period (yuan) | Prior Year Same Period (yuan) | Year-on-Year Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 1,120,967,709.73 | 859,292,731.36 | 30.45% | Growth in automotive manufacturing equipment orders and mass production of automotive components | | Operating Cost | 850,292,310.29 | 675,890,335.88 | 25.80% | | | Selling Expenses | 11,529,242.82 | 19,224,560.11 | -40.03% | After-sales service fees reclassified to operating costs | | Administrative Expenses | 55,807,824.39 | 36,810,575.18 | 51.61% | Increase in management personnel salaries and asset depreciation expenses | | Financial Expenses | -19,528.46 | 746,324.99 | -102.62% | Decrease in interest expenses from convertible bond conversion and changes in exchange gains/losses | | Income Tax Expenses | 19,744,521.73 | 6,662,187.96 | 196.37% | Increase in current income tax expenses | | R&D Investment | 55,141,913.48 | 41,764,817.25 | 32.03% | Increased R&D investment | | Net Cash Flow from Operating Activities | -28,972,442.85 | 72,760,546.15 | -139.82% | Faster growth in component business, increased net expenditure on sales and purchases, and increased employee compensation | | Net Cash Flow from Financing Activities | -15,301,005.95 | 150,821,657.57 | -110.15% | Increase in net expenditure on obtaining and repaying borrowings | | Net Increase in Cash and Cash Equivalents | -255,721,894.72 | 55,127,812.15 | -563.87% | Combined impact of reduced net cash inflows from operating, investing, and financing activities | Operating Revenue Composition (by Industry, Product, Region) | Category | Item | Current Reporting Period Amount (yuan) | Proportion of Operating Revenue | Prior Year Same Period Amount (yuan) | Proportion of Operating Revenue | Year-on-Year Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **By Industry** | Special Equipment Manufacturing Industry | 833,604,880.46 | 74.36% | 773,981,576.14 | 90.07% | 7.70% | | | Automotive Parts and Accessories Manufacturing Industry | 257,450,126.33 | 22.97% | 74,677,539.39 | 8.69% | 244.75% | | **By Product** | Moulds, Jigs, Automation Production Lines | 833,604,880.46 | 74.36% | 773,981,576.14 | 90.07% | 7.70% | | | Automotive Parts and Accessories | 257,450,126.33 | 22.97% | 74,677,539.39 | 8.69% | 244.75% | | **By Region** | Domestic Sales | 998,333,987.49 | 89.06% | 721,023,862.06 | 83.91% | 38.46% | | | Export Sales | 122,633,722.24 | 10.94% | 138,268,869.30 | 16.09% | -11.31% | Gross Profit Margin Analysis of Principal Business | Category | Item | Operating Revenue | Operating Cost | Gross Profit Margin | Operating Revenue Year-on-Year Change | Operating Cost Year-on-Year Change | Gross Profit Margin Year-on-Year Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **By Industry** | Special Equipment Manufacturing Industry | 833,604,880.46 | 596,904,197.20 | 28.39% | 7.70% | -2.04% | 7.12% | | | Parts and Accessories Manufacturing Industry | 257,450,126.33 | 233,503,413.11 | 9.30% | 244.75% | 269.99% | -6.19% | | **By Region** | Domestic Sales | 998,333,987.49 | 781,134,805.33 | 21.76% | 38.46% | 35.65% | 1.62% | | | Export Sales | 122,633,722.24 | 69,157,504.96 | 43.61% | -11.31% | -30.87% | 15.97% | [4. Analysis of Non-Principal Business](index=15&type=section&id=4.%20Analysis%20of%20Non-Principal%20Business) Non-principal business income primarily from investment gains, government grants, and tax deductions, with investment gains from associates and bill discounting showing sustainability. Non-Principal Business Income Composition | Item | Amount (yuan) | Proportion of Total Profit | Explanation of Formation | Sustainability | | :--- | :--- | :--- | :--- | :--- | | Investment Income | 36,886,056.18 | 18.37% | Investment income from associates, wealth management income, interest from discounted notes receivable | Sustainable except for investment income from associates and interest from discounted notes receivable | | Gains and Losses from Fair Value Changes | -151,667.14 | -0.08% | Fair value changes of wealth management products | No | | Asset Impairment | 970,478.79 | 0.48% | Impairment provisions for inventory and contract assets | No | | Non-Operating Income | 2,477,008.82 | 1.23% | Business penalty income | No | | Non-Operating Expenses | 476,710.95 | 0.24% | Business penalty expenses | No | | Credit Impairment Losses | 70,682.16 | 0.04% | Bad debt provisions for accounts receivable | No | | Other Income | 21,382,204.11 | 10.65% | Government grants and additional VAT input tax deduction for advanced manufacturing | Sustainable except for VAT refunds for software products, amortization of asset-related government grants included in other income, and additional VAT input tax deduction for advanced manufacturing | [5. Analysis of Assets and Liabilities](index=15&type=section&id=5.%20Analysis%20of%20Assets%20and%20Liabilities) Total assets increased by 6.94%, and net assets attributable to shareholders by 15.88%, driven by fixed asset capitalization from new projects, while some assets are restricted. Significant Changes in Asset Composition | Item | Amount at End of Current Reporting Period (yuan) | Proportion of Total Assets | Amount at End of Prior Year (yuan) | Proportion of Total Assets | Change in Proportion | Explanation of Significant Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Cash and Bank Balances | 593,064,455.05 | 10.58% | 841,505,825.81 | 16.05% | -5.47% | | | Accounts Receivable | 461,246,527.82 | 8.23% | 381,076,085.28 | 7.27% | 0.96% | | | Inventories | 2,009,944,957.41 | 35.84% | 1,774,375,861.08 | 33.84% | 2.00% | | | Fixed Assets | 753,236,260.91 | 13.43% | 496,881,055.69 | 9.48% | 3.95% | Increase due to capitalization of assets from intelligent manufacturing factory project and new energy vehicle precision forming equipment and lightweight components project | | Construction in Progress | 156,867,887.30 | 2.80% | 339,312,524.54 | 6.47% | -3.67% | Capitalization of assets from intelligent manufacturing factory project and new energy vehicle precision forming equipment and lightweight components project | | Short-Term Borrowings | 160,082,331.88 | 2.85% | 156,829,166.08 | 2.99% | -0.14% | | | Contract Liabilities | 1,503,651,869.64 | 26.81% | 1,417,321,560.83 | 27.03% | -0.22% | | Assets and Liabilities Measured at Fair Value | Item | Beginning Balance (yuan) | Fair Value Change Gains/Losses for the Period (yuan) | Ending Balance (yuan) | | :--- | :--- | :--- | :--- | | Trading Financial Assets | 30,294,756.19 | -151,667.14 | 105,143,089.05 | | Other Equity Instrument Investments | 23,140,469.89 | | 23,710,937.33 | | Notes Receivable Financing | 194,297,945.09 | | 201,532,049.51 | | **Total** | **247,733,171.17** | **-151,667.14** | **330,386,075.89** | Restricted Asset Information | Item | Book Balance (yuan) | Type of Restriction | Reason for Restriction | | :--- | :--- | :--- | :--- | | Cash and Bank Balances | 27,072,296.22 | Guarantee | Bank acceptance bills, letters of credit, guarantee deposits | | Notes Receivable Financing | 6,077,932.70 | Pledge | Pledged for issuing bank acceptance bills | | Long-Term Equity Investment | - | Pledge | Pledge of equity in subsidiary Rayhoo Lightweight, loan balance 31.20 million yuan | | **Total** | **33,150,228.92** | | | [6. Analysis of Investment Status](index=17&type=section&id=6.%20Analysis%20of%20Investment%20Status) Total investment decreased by 41.64%, with significant equity investment in Wuhu Rayhoo Haobo Mould and non-equity investments in new energy vehicle projects, some of which are now operational. Investment Total Change | Indicator | Investment Amount for Current Reporting Period (yuan) | Investment Amount for Prior Year Same Period (yuan) | Change Rate | | :--- | :--- | :--- | :--- | | Total Investment | 452,996,436.14 | 776,145,464.85 | -41.64% | - During the reporting period, the company increased its capital in its controlling subsidiary Wuhu Rayhoo Haobo Mould Co., Ltd. by **51 million yuan**, holding 51.00% of the shares, with **25.50 million yuan** already invested, for mould R&D, production, maintenance, sales, and automotive component manufacturing[38](index=38&type=chunk) Significant Non-Equity Investments in Progress | Project Name | Investment Method | Industry Involved in Investment Project | Amount Invested in Current Reporting Period (yuan) | Cumulative Actual Investment Amount as of End of Reporting Period (yuan) | Project Progress | | :--- | :--- | :--- | :--- | :--- | :--- | | New Energy Vehicle Precision Forming Equipment and Lightweight Components Project (Jiangbei Phase I) | Self-built | Automotive Parts and Accessories Manufacturing Industry | 35,020,789.70 | 239,741,720.30 | 100.00% | | New Energy Vehicle Lightweight Components Project (Non-ferrous Casting) | Self-built | Automotive Parts and Accessories Manufacturing Industry | 10,543,207.49 | 231,036,034.94 | 70.00% | | New Energy Vehicle Lightweight Body and Key Components Precision Forming Equipment Intelligent Manufacturing Factory Project (Phase I) | Self-built | Special Equipment Manufacturing Industry | 87,586,351.30 | 237,263,196.06 | 55.00% | Securities Investment Information | Type of Security | Security Abbreviation | Book Value at Beginning of Period (yuan) | Fair Value Change Gains/Losses for the Period (yuan) | Book Value at End of Period (yuan) | | :--- | :--- | :--- | :--- | :--- | | Other | None | 30,294,756.19 | -151,667.14 | 105,143,089.05 | - The **335.43 million yuan** raised from the public offering of ordinary shares in 2020 has been cumulatively used, with **4.99 million yuan** remaining unused; the **208.61 million yuan** raised from the public offering of convertible corporate bonds in 2022 has been cumulatively used, with **241.75 million yuan** remaining unused, of which **80 million yuan** is for fixed deposits[45](index=45&type=chunk)[46](index=46&type=chunk) - Among the raised investment projects, the High-End Passenger Vehicle Large Precision Covering Parts Mould Upgrade and Expansion Project, the Robot System Integrated Body Welding Automation Production Line Project (Phase I), and the Automotive Intelligent Manufacturing Equipment Technology R&D Center Project have been completed and closed[45](index=45&type=chunk)[48](index=48&type=chunk) [7. Significant Asset and Equity Disposals](index=26&type=section&id=7.%20Significant%20Asset%20and%20Equity%20Disposals) The company did not dispose of any significant assets or equity during the reporting period. - The company did not dispose of significant assets during the reporting period[56](index=56&type=chunk) - The company did not dispose of significant equity during the reporting period[57](index=57&type=chunk) [8. Analysis of Major Holding and Participating Companies](index=26&type=section&id=8.%20Analysis%20of%20Major%20Holding%20and%20Participating%20Companies) Key subsidiaries Anhui Rayxiang Industrial and Wuhu Rayhoo Haobo Mould, along with associate Anhui Chengdu Aircraft Industrial Rayhoo Automotive Mould, significantly contributed to net profit due to business growth and project optimization. Major Subsidiaries and Associate Companies Information | Company Name | Company Type | Principal Business | Registered Capital (million yuan) | Total Assets (yuan) | Net Profit (yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | | Anhui Rayxiang Industrial Co., Ltd. | Subsidiary | R&D, production, and sales of welding automation production lines | 82.35 | 1,808,165,148.35 | 80,046,451.93 | | Wuhu Rayhoo Haobo Mould Co., Ltd. | Subsidiary | Mould R&D, production, maintenance, sales; automotive component manufacturing | 200 | 903,882,920.08 | 17,297,524.42 | | Anhui Chengdu Aircraft Industrial Rayhoo Automotive Mould Co., Ltd. | Associate Company | Development, design, and manufacturing of automotive moulds, jigs, fixtures, and other automotive tooling; automotive component manufacturing | 150 | 1,543,371,144.54 | 69,464,550.52 | - Anhui Rayxiang Industrial Co., Ltd.'s net profit for the current period was **80.05 million yuan**, accounting for **44.21%** of consolidated net profit, a year-on-year increase of **136.53%**, mainly due to business scale growth, project structure changes, and reduced asset impairment losses[58](index=58&type=chunk) - Wuhu Rayhoo Haobo Mould Co., Ltd.'s net profit for the current period was **17.30 million yuan**, accounting for **9.55%** of consolidated net profit, a year-on-year increase of **47.49%**, mainly due to mass production of automotive components and increased other income[58](index=58&type=chunk) - Anhui Chengdu Aircraft Industrial Rayhoo Automotive Mould Co., Ltd.'s net profit for the current period was **69.46 million yuan**, a year-on-year increase of **56.46%**, mainly benefiting from the growth in automotive component business scale; the company recognized investment income of **35.39 million yuan** using the equity method, accounting for **19.54%** of the company's consolidated net profit[58](index=58&type=chunk) [9. Structured Entities Controlled by the Company](index=27&type=section&id=9.%20Structured%20Entities%20Controlled%20by%20the%20Company) The company did not control any structured entities during the reporting period. - The company had no structured entities under its control during the reporting period[59](index=59&type=chunk) [10. Risks Faced by the Company and Countermeasures](index=27&type=section&id=10.%20Risks%20Faced%20by%20the%20Company%20and%20Countermeasures) The company faces risks from intensified market competition, fluctuating costs, bad debts, quarterly performance volatility, and increasing related party transactions. - Market Risk: Global economic instability, slowing domestic economic growth, intensified competition in the automotive industry chain, and price wars transmitted upstream may lead to more intense market competition and increased business risks[59](index=59&type=chunk) - Cost Risk: Fluctuations in bulk raw material prices, continuous increases in labor costs, and geopolitical competition and trade decoupling leading to longer project delivery cycles and increased costs for international clients[59](index=59&type=chunk) - Risk of Bad Debts from Accounts Receivable: Accounts receivable balance exceeded **500 million yuan** at the end of the reporting period, accounting for **22.9%** of net assets, and changes in the macroeconomic environment or major clients' operations could lead to bad debt losses[59](index=59&type=chunk) - Risk of Quarterly Performance Volatility: The customized nature of the automotive manufacturing equipment business and the high correlation of the automotive lightweight components business with downstream production and sales volumes lead to unevenness in revenue and performance between quarters[60](index=60&type=chunk) - Risk of Increasing Proportion of Related Party Transactions: The company's related party transactions with Chery Automobile and other related parties generally show an upward trend, mainly due to Chery Automobile's rapid business development and the high proportion of the company's component business with Chery clients[60](index=60&type=chunk) [11. Implementation of "Quality and Return Dual Improvement" Action Plan](index=28&type=section&id=11.%20Implementation%20of%20%22Quality%20and%20Return%20Dual%20Improvement%22%20Action%20Plan) The company did not disclose any "Quality and Return Dual Improvement" action plan during the reporting period. - The company did not disclose any "Quality and Return Dual Improvement" action plan announcement during the reporting period[61](index=61&type=chunk) [Section IV Corporate Governance](index=29&type=section&id=Section%20IV%20Corporate%20Governance) [1. General Meetings of Shareholders and Extraordinary General Meetings During the Reporting Period](index=29&type=section&id=1.%20General%20Meetings%20of%20Shareholders%20and%20Extraordinary%20General%20Meetings%20During%20the%20Reporting%20Period) The company held three shareholder meetings during the reporting period, including two extraordinary general meetings and one annual general meeting, with varying investor participation rates. Shareholder Meetings During the Reporting Period | Session | Meeting Type | Investor Participation Rate | Date of Meeting | Disclosure Date | | :--- | :--- | :--- | :--- | :--- | | First Extraordinary General Meeting of 2024 | Extraordinary General Meeting | 48.46% | January 12, 2024 | January 13, 2024 | | Second Extraordinary General Meeting of 2024 | Extraordinary General Meeting | 33.55% | March 25, 2024 | March 26, 2024 | | 2023 Annual General Meeting | Annual General Meeting | 45.94% | May 14, 2024 | May 15, 2024 | - There were no instances of preferred shareholders whose voting rights had been restored requesting to convene an extraordinary general meeting during the reporting period[63](index=63&type=chunk) [2. Changes in Directors, Supervisors, and Senior Management](index=29&type=section&id=2.%20Changes%20in%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) During the reporting period, Director Qi Shilong's position changed due to election on January 13, 2024. Changes in Directors, Supervisors, and Senior Management | Name | Position Held | Type | Date | Reason | | :--- | :--- | :--- | :--- | :--- | | Qi Shilong | Director | Elected | January 13, 2024 | Elected based on shareholder nomination | [3. Profit Distribution and Capital Reserve Conversion to Share Capital During the Reporting Period](index=29&type=section&id=3.%20Profit%20Distribution%20and%20Capital%20Reserve%20Conversion%20to%20Share%20Capital%20During%20the%20Reporting%20Period) The company plans no cash dividends, bonus shares, or capital reserve conversions to share capital for the half-year period. - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the half-year period[64](index=64&type=chunk) [4. Implementation of Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=29&type=section&id=4.%20Implementation%20of%20Equity%20Incentive%20Plans%2C%20Employee%20Stock%20Ownership%20Plans%2C%20or%20Other%20Employee%20Incentive%20Measures) The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures during the reporting period. - The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures and their implementation during the reporting period[64](index=64&type=chunk) [Section V Environmental and Social Responsibility](index=30&type=section&id=Section%20V%20Environmental%20and%20Social%20Responsibility) [1. Significant Environmental Issues](index=30&type=section&id=1.%20Significant%20Environmental%20Issues) The company and its subsidiaries are not key polluters, faced no environmental penalties, and did not disclose carbon emission reduction measures during the reporting period. - The company and its subsidiaries are not classified as key polluting units by environmental protection authorities[65](index=65&type=chunk) - No penalties were incurred due to violations of laws or regulations during the reporting period[65](index=65&type=chunk) - The company did not disclose measures taken and their effects to reduce carbon emissions during the reporting period[65](index=65&type=chunk) [2. Social Responsibility](index=30&type=section&id=2.%20Social%20Responsibility) The company actively fulfills social responsibilities by safeguarding stakeholder rights, caring for employees, ensuring product quality, prioritizing safety, and promoting environmental protection and sustainable development. - The company safeguards the legitimate rights and interests of shareholders, especially small and medium shareholders, by improving its corporate governance structure, strictly fulfilling information disclosure obligations, and ensuring the truthfulness and completeness of information[66](index=66&type=chunk) - The company adheres to a people-oriented approach, values talent strategy, complies with the Labor Law, fosters a positive work environment, and enhances employee quality through training to achieve mutual growth[66](index=66&type=chunk) - The company has established a raw material procurement and product sales service system, ensuring product quality, improving customer feedback and complaint handling mechanisms, and protecting the rights and interests of suppliers, customers, and consumers[66](index=66&type=chunk) - The company adheres to the policy of "safety first, prevention foremost, comprehensive governance," establishing safety production management systems, clarifying responsibilities, and ensuring safety production goals through maintenance, training, inspection, and assessment[66](index=66&type=chunk) - The company actively integrates environmental protection concepts into daily work and life, cultivating employees' awareness of energy conservation, water conservation, and reduced paper usage to promote low-carbon practices[66](index=66&type=chunk) [Section VI Significant Matters](index=32&type=section&id=Section%20VI%20Significant%20Matters) [1. Commitments Fulfilled or Overdue by Controlling Shareholder, Shareholders, Related Parties, Acquirers, and the Company During and as of the End of the Reporting Period](index=32&type=section&id=1.%20Commitments%20Fulfilled%20or%20Overdue%20by%20Controlling%20Shareholder%2C%20Shareholders%2C%20Related%20Parties%2C%20Acquirers%2C%20and%20the%20Company%20During%20and%20as%20of%20the%20End%20of%20the%20Reporting%20Period) The company reported no commitments fulfilled or overdue by its controlling shareholder, shareholders, related parties, acquirers, or the company during the reporting period. - The company had no commitments fulfilled or overdue by its actual controller, shareholders, related parties, acquirers, or the company during the reporting period and as of the end of the reporting period[68](index=68&type=chunk) [2. Non-Operating Funds Occupied by Controlling Shareholder and Other Related Parties from the Listed Company](index=32&type=section&id=2.%20Non-Operating%20Funds%20Occupied%20by%20Controlling%20Shareholder%20and%20Other%20Related%20Parties%20from%20the%20Listed%20Company) The company reported no non-operating funds occupied by its controlling shareholder or other related parties during the reporting period. - The company had no non-operating funds occupied by its controlling shareholder or other related parties during the reporting period[68](index=68&type=chunk) [3. Irregular External Guarantees](index=32&type=section&id=3.%20Irregular%20External%20Guarantees) The company had no irregular external guarantees during the reporting period. - The company had no irregular external guarantees during the reporting period[68](index=68&type=chunk) [4. Appointment and Dismissal of Accounting Firms](index=32&type=section&id=4.%20Appointment%20and%20Dismissal%20of%20Accounting%20Firms) The company's semi-annual report was not audited. - The company's semi-annual report was not audited[68](index=68&type=chunk) [5. Board of Directors' and Supervisory Board's Explanations on the Accounting Firm's "Non-Standard Audit Report" for the Current Period](index=32&type=section&id=5.%20Board%20of%20Directors'%20and%20Supervisory%20Board's%20Explanations%20on%20the%20Accounting%20Firm's%20%22Non-Standard%20Audit%20Report%22%20for%20the%20Current%20Period) The company's Board of Directors and Supervisory Board provided no explanations regarding a "non-standard audit report" for the current period. - The company's Board of Directors and Supervisory Board had no explanations regarding the accounting firm's "non-standard audit report" for the current reporting period[68](index=68&type=chunk) [6. Board of Directors' Explanations on the "Non-Standard Audit Report" for the Previous Year](index=32&type=section&id=6.%20Board%20of%20Directors'%20Explanations%20on%20the%20%22Non-Standard%20Audit%20Report%22%20for%20the%20Previous%20Year) The company's Board of Directors provided no explanations regarding a "non-standard audit report" for the previous year. - The company's Board of Directors had no explanations regarding the "non-standard audit report" for the previous year during the reporting period[68](index=68&type=chunk) [7. Bankruptcy and Reorganization Matters](index=32&type=section&id=7.%20Bankruptcy%20and%20Reorganization%20Matters) The company had no bankruptcy or reorganization matters during the reporting period. - The company had no bankruptcy or reorganization matters during the reporting period[68](index=68&type=chunk) [8. Litigation Matters](index=32&type=section&id=8.%20Litigation%20Matters) The company had no significant litigation, arbitration, or other litigation matters during the reporting period. - The company had no significant litigation or arbitration matters during the current reporting period[68](index=68&type=chunk) - The company had no other litigation matters during the reporting period[68](index=68&type=chunk) [9. Penalties and Rectification](index=33&type=section&id=9.%20Penalties%20and%20Rectification) The company had no penalties or rectification situations during the reporting period. - The company had no penalties or rectification situations during the reporting period[69](index=69&type=chunk) [10. Integrity Status of the Company, its Controlling Shareholder, and Actual Controller](index=33&type=section&id=10.%20Integrity%20Status%20of%20the%20Company%2C%20its%20Controlling%20Shareholder%2C%20and%20Actual%20Controller) The company reported no issues regarding the integrity status of itself, its controlling shareholder, or actual controller during the reporting period. - The company had no integrity status issues of itself, its controlling shareholder, or actual controller that needed to be explained during the reporting period[69](index=69&type=chunk) [11. Significant Related Party Transactions](index=33&type=section&id=11.%20Significant%20Related%20Party%20Transactions) The company engaged in various daily operational related party transactions, including procurement and sales, with pricing based on market principles, and is in the process of transferring Daao Auto equity to Chery Technology. Related Party Procurement Transactions Related to Daily Operations | Related Party | Related Transaction Content | Related Transaction Amount (million yuan) | Proportion of Similar Transactions | | :--- | :--- | :--- | :--- | | Anhui Chengdu Aircraft Industrial Rayhoo Automotive Mould Co., Ltd. | Moulds and minor processing | 24.29 | 28.77% | | Anhui Chengdu Aircraft Industrial Rayhoo Automotive Mould Co., Ltd. | Utilities and property management fees, etc. | 3.70 | 28.32% | | Rui Jing (Anhui) Supply Chain Technology Co., Ltd. | Materials and other | 59.68 | 6.63% | | Wuhu Furuide Intelligent Manufacturing Co., Ltd. | Materials and other | 51.02 | 5.66% | | Wuhu Rayhoo Photovoltaic Technology Co., Ltd. | Electricity | 1.80 | 14.36% | Related Party Sales Transactions Related to Daily Operations | Related Party | Related Transaction Content | Related Transaction Amount (million yuan) | Proportion of Similar Transactions | | :--- | :--- | :--- | :--- | | Chery Automobile Co., Ltd. | Moulds, Jigs, Automation Production Lines | 135.33 | 16.23% | | Chery Automobile Co., Ltd. | Automotive Parts and Accessories | 76.39 | 29.67% | | Wuhu Ecotech Powertrain Co., Ltd. | Automotive Parts and Accessories | 112.05 | 43.52% | | Southeast (Fujian) Motor Industry Co., Ltd. | Moulds, Jigs, Automation Production Lines | 113.61 | 13.63% | | Anhui Chengdu Aircraft Industrial Rayhoo Automotive Mould Co., Ltd. | Automotive Parts and Accessories | 67.95 | 26.40% | - The company signed an "Equity Transfer Agreement" with Chery Technology, intending to transfer all its equity in Daao (Wuhu) Automotive Products Co., Ltd.; this transaction has been approved by the State Administration for Market Regulation and is currently undergoing industrial and commercial registration changes, but has not yet been completed[76](index=76&type=chunk) - The company had no non-operating related party receivables and payables during the reporting period[79](index=79&type=chunk) [12. Significant Contracts and Their Performance](index=40&type=section&id=12.%20Significant%20Contracts%20and%20Their%20Performance) The company had no trust or contracting arrangements, with ongoing software and dormitory leases, and provided guarantees totaling 315.26 million yuan to subsidiaries, while investing 105 million yuan in wealth management products. - The company had no trust or contracting arrangements during the reporting period[83](index=83&type=chunk)[84](index=84&type=chunk) - The company's leasing matters primarily include Tebis software, AutoForm software leases, and multiple employee dormitory leases, with most leasing contracts currently in performance[85](index=85&type=chunk)[86](index=86&type=chunk) External Guarantees by the Company and its Subsidiaries | Guaranteed Party Name | Guarantee Limit (million yuan) | Actual Guarantee Amount (million yuan) | Guarantee Type | Fulfilled | | :--- | :--- | :--- | :--- | :--- | | Anhui Rayxiang Industrial Co., Ltd. | 60.00 | 1.13 | Joint and several liability guarantee | Yes | | Anhui Rayxiang Industrial Co., Ltd. | 50.00 | 0.55 | Joint and several liability guarantee | Yes | | Wuhu Rayhoo Lightweight Technology Co., Ltd. | 58.50 | 1.46 | Joint and several liability guarantee | No | | Wuhu Rayhoo Haobo Mould Co., Ltd. | 5.10 | 0.10 | Joint and several liability guarantee | Yes | | **Total** | **650.00** | **315.26** | | | - The total actual guarantee amount accounts for **15.98%** of the company's net assets; among these, the outstanding debt guarantees provided directly or indirectly to guaranteed parties with an asset-liability ratio exceeding **70%** amount to **263.77 million yuan**[103](index=103&type=chunk) Wealth Management Information | Specific Type | Source of Wealth Management Funds | Amount of Wealth Management Transactions (million yuan) | Unexpired Balance (million yuan) | | :--- | :--- | :--- | :--- | | Bank Wealth Management Products | Own Funds | 182.50 | 105.00 | | Brokerage Wealth Management Products | Own Funds | 10.00 | 0 | | **Total** | | **192.50** | **105.00** | - The company signed an intelligent connected vehicle contract with Chery Automobile, with the contract subject being intelligent connected vehicles, signed in March 2023, with a transaction price of **380 million yuan**, and is currently being executed as of the end of the reporting period[105](index=105&type=chunk)[107](index=107&type=chunk) [13. Explanation of Other Significant Matters](index=59&type=section&id=13.%20Explanation%20of%20Other%20Significant%20Matters) The company reported no other significant matters requiring explanation during the reporting period. - The company had no other significant matters requiring explanation during the reporting period[108](index=108&type=chunk) [14. Significant Matters of Company Subsidiaries](index=59&type=section&id=14.%20Significant%20Matters%20of%20Company%20Subsidiaries) The company reported no significant matters concerning its subsidiaries during the reporting period. - The company had no significant matters concerning its subsidiaries during the reporting period[109](index=109&type=chunk) [Section VII Changes in Shares and Shareholder Information](index=60&type=section&id=Section%20VII%20Changes%20in%20Shares%20and%20Shareholder%20Information) [1. Changes in Shares](index=60&type=section&id=1.%20Changes%20in%20Shares) Total share capital increased by 10,895,383 shares due to convertible bond conversion, reaching 209,321,325 shares, impacting per-share earnings and net assets. Changes in Shares | Item | Quantity Before This Change (shares) | Proportion | Net Increase/Decrease for This Change (shares) | Quantity After This Change (shares) | Proportion | | :--- | :--- | :--- | :--- | :--- | :--- | | II. Shares Not Subject to Selling Restrictions | 198,425,942 | 100.00% | 10,895,383 | 209,321,325 | 100.00% | | III. Total Shares | 198,425,942 | 100.00% | 10,895,383 | 209,321,325 | 100.00% | - During the reporting period, a total of **185.89 million yuan** of "Rayhoo Convertible Bonds" were converted into the company's A-shares, resulting in a cumulative conversion of **10,895,383 shares**[111](index=111&type=chunk) Impact of Share Changes on Financial Indicators | Item | After Change | Before Change | | :--- | :--- | :--- | | Share Capital (shares) | 209,321,325 | 198,425,942 | | Basic Earnings Per Share (yuan/share) | 0.79 | 0.82 | | Diluted Earnings Per Share (yuan/share) | 0.79 | 0.78 | | Net Assets Per Share Attributable to Ordinary Shareholders (yuan/share) | 9.42 | 9.09 | [2. Issuance and Listing of Securities](index=61&type=section&id=2.%20Issuance%20and%20Listing%20of%20Securities) The company had no issuance or listing of securities during the reporting period. - The company had no issuance and listing of securities during the reporting period[112](index=112&type=chunk) [3. Number of Shareholders and Shareholding Status](index=61&type=section&id=3.%20Number%20of%20Shareholders%20and%20Shareholding%20Status) As of the reporting period end, the company had 24,105 common shareholders, with Wuhu Hongbo Mould Technology holding 33.04% as the controlling shareholder, and Wuhu Chery Technology holding 12.90%. - The total number of ordinary shareholders at the end of the reporting period was **24,105**[112](index=112&type=chunk) Top 10 Ordinary Shareholders' Shareholding Status at End of Reporting Period | Shareholder Name | Shareholder Nature | Shareholding Percentage | Number of Ordinary Shares Held at End of Reporting Period (shares) | Number of Unlimited Ordinary Shares Held (shares) | Share Status | Number of Pledged, Marked, or Frozen Shares (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Wuhu Hongbo Mould Technology Co., Ltd. | Domestic Non-State-Owned Legal Person | 33.04% | 69,150,000 | 69,150,000 | Pledged | 26,000,000 | | Wuhu Chery Technology Co., Ltd. | Domestic Non-State-Owned Legal Person | 12.90% | 27,000,000 | 27,000,000 | Not Applicable | 0 | | Hangzhou Wanhan Management Consulting Partnership (Limited Partnership) | Domestic Non-State-Owned Legal Person | 3.97% | 8,313,073 | 8,313,073 | Not Applicable | 0 | | Industrial and Commercial Bank of China Co., Ltd. - Nuoan Pioneer Mixed Securities Investment Fund | Other | 1.22% | 2,543,700 | 2,543,700 | Not Applicable | 0 | | Anhui Jintong New Energy Vehicle Phase I Fund Partnership (Limited Partnership) | Domestic Non-State-Owned Legal Person | 1.12% | 2,340,966 | 2,340,966 | Not Applicable | 0 | | Ping An Fund - China Ping An Life Insurance Co., Ltd. - Dividend - Individual Insurance Dividend - Ping An Life - Ping An Fund Equity Entrusted Investment No. 2 Single Asset Management Plan | Other | 1.11% | 2,328,473 | 2,328,473 | Not Applicable | 0 | | China Life Pension Strategy No. 9 Stock-Type Pension Product - Industrial and Commercial Bank of China Co., Ltd. | Other | 0.77% | 1,619,777 | 1,619,777 | Not Applicable | 0 | | Bank of China Co., Ltd. - Huaxia Wensheng Flexible Allocation Mixed Securities Investment Fund | Other | 0.57% | 1,190,473 | 1,190,473 | Not Applicable | 0 | | China Construction Bank - Huaxia Dividend Mixed Open-Ended Securities Investment Fund | Other | 0.52% | 1,092,800 | 1,092,800 | Not Applicable | 0 | | Shandong Province (No. 7) Occupational Annuity Plan - Construction Bank | Other | 0.50% | 1,044,837 | 1,044,837 | Not Applicable | 0 | - There is no associated relationship or concerted action relationship between the company's top 10 shareholders, Hongbo Technology, Chery Technology, and other shareholders[114](index=114&type=chunk) - Shareholder Hangzhou Wanhan Management Consulting Partnership (Limited Partnership) holds **8,313,073 shares** through a credit account[118](index=118&type=chunk) [4. Changes in Shareholdings of Directors, Supervisors, and Senior Management](index=64&type=section&id=4.%20Changes%20in%20Shareholdings%20of%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) There were no changes in the shareholdings of the company's directors, supervisors, and senior management during the reporting period. - There were no changes in the shareholdings of the company's directors, supervisors, and senior management during the reporting period, as detailed in the 2023 Annual Report[119](index=119&type=chunk) [5. Changes in Controlling Shareholder or Actual Controller](index=64&type=section&id=5.%20Changes%20in%20Controlling%20Shareholder%20or%20Actual%20Controller) The company's controlling shareholder and actual controller remained unchanged during the reporting period. - The company's controlling shareholder remained unchanged during the reporting period[120](index=120&type=chunk) - The company's actual controller remained unchanged during the reporting period[120](index=120&type=chunk) [Section VIII Preferred Shares Information](index=65&type=section&id=Section%20VIII%20Preferred%20Shares%20Information) [Preferred Shares Information](index=65&type=section&id=Preferred%20Shares%20Information) The company had no preferred shares during the reporting period. - The company had no preferred shares during the reporting period[121](index=121&type=chunk) [Section IX Bond Information](index=66&type=section&id=Section%20IX%20Bond%20Information) [1. Corporate Bonds](index=66&type=section&id=1.%20Corporate%20Bonds) The company had no corporate bonds during the reporting period. - The company had no corporate bonds during the reporting period[123](index=123&type=chunk) [2. Company Bonds](index=66&type=section&id=2.%20Company%20Bonds) The company had no company bonds during the reporting period. - The company had no company bonds during the reporting period[124](index=124&type=chunk) [3. Non-Financial Enterprise Debt Financing Instruments](index=66&type=section&id=3.%20Non-Financial%20Enterprise%20Debt%20Financing%20Instruments) The company had no non-financial enterprise debt financing instruments during the reporting period. - The company had no non-financial enterprise debt financing instruments during the reporting period[125](index=125&type=chunk) [4. Convertible Corporate Bonds](index=66&type=section&id=4.%20Convertible%20Corporate%20Bonds) The conversion price of "Rayhoo Convertible Bonds" was adjusted to 17.06 yuan/share, with 25,721,325 shares converted by March 29, 2024, and the remaining 9,438 bonds redeemed and delisted on April 1, 2024. - The conversion price of "Rayhoo Convertible Bonds" was adjusted to **17.06 yuan/share** starting from June 28, 2023 (ex-dividend and ex-right date)[126](index=126&type=chunk) Cumulative Conversion Information | Bond Abbreviation | Cumulative Conversion Amount (yuan) | Cumulative Number of Converted Shares (shares) | Proportion of Converted Shares to Total Shares Issued Before Conversion Start Date | | :--- | :--- | :--- | :--- | | Rayhoo Convertible Bonds | 438,856,200.00 | 25,721,325 | 14.01% | - As of March 29, 2024, the remaining **9,438** "Rayhoo Convertible Bonds" were prematurely redeemed by the company on April 1, 2024, and delisted from the Shenzhen Stock Exchange after this redemption[129](index=129&type=chunk) [5. Consolidated Statement Loss Exceeding 10% of Net Assets at Year-End During the Reporting Period](index=67&type=section&id=5.%20Consolidated%20Statement%20Loss%20Exceeding%2010%25%20of%20Net%20Assets%20at%20Year-End%20During%20the%20Reporting%20Period) The company's consolidated statement loss did not exceed 10% of net assets at the previous year-end during the reporting period. - The company's consolidated statement loss did not exceed **10%** of net assets at the previous year-end during the reporting period[130](index=130&type=chunk) [6. Key Accounting Data and Financial Indicators for the Past Two Years as of the End of the Reporting Period](index=67&type=section&id=6.%20Key%20Accounting%20Data%20and%20Financial%20Indicators%20for%20the%20Past%20Two%20Years%20as%20of%20the%20End%20of%20the%20Reporting%20Period) As of the reporting period end, the company's current and quick ratios slightly decreased, while the asset-liability ratio dropped by 3.25%, and net profit after non-recurring items grew by 95.75%. Key Accounting Data and Financial Indicators for the Past Two Years | Item | End of Current Reporting Period | End of Prior Year | Change from End of Prior Year | | :--- | :--- | :--- | :--- | | Current Ratio | 1.25 | 1.27 | -1.57% | | Asset-Liability Ratio | 60.27% | 63.52% | -3.25% | | Quick Ratio | 0.59 | 0.65 | -9.23% | | **Item** | **Current Reporting Period** | **Prior Year Same Period** | **Change from Prior Year Same Period** | | Net Profit After Deducting Non-Recurring Gains and Losses (million yuan) | 152.85 | 78.08 | 95.75% | | EBITDA to Total Debt Ratio | 31.85% | 16.13% | 15.72% | | Interest Coverage Ratio | 21.72 | 10.53 | 106.27% | | Cash Interest Coverage Ratio | -1.01 | 26.91 | -103.75% | | EBITDA Interest Coverage Ratio | 27.89 | 14.01 | 99.07% | | Loan Repayment Rate | 100.00% | 100.00% | 0.00% | | Interest Payment Rate | 100.00% | 100.00% | 0.00% | [Section X Financial Report](index=69&type=section&id=Section%20X%20Financial%20Report) [1. Audit Report](index=69&type=section&id=1.%20Audit%20Report) The company's semi-annual financial report was not audited. - The company's semi-annual financial report was not audited[133](index=133&type=chunk) [2. Financial Statements](index=69&type=section&id=2.%20Financial%20Statements) This section presents the consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity for H1 2024, providing a comprehensive overview of the company's financial position, operating results, and cash flows. [1. Consolidated Balance Sheet](index=69&type=section&id=1.%20Consolidated%20Balance%20Sheet) As of June 30, 2024, consolidated total assets were 5.61 billion yuan, up 6.94% from the beginning of the period, with significant increases in financial assets and fixed assets, and decreases in cash and construction in progress. Consolidated Balance Sheet Key Data | Item | Ending Balance (yuan) | Beginning Balance (yuan) | | :--- | :--- | :--- | | Total Assets | 5,607,770,241.64 | 5,243,833,307.83 | | Total Current Assets | 3,792,553,361.39 | 3,620,193,509.39 | | Total Non-Current Assets | 1,815,216,880.25 | 1,623,639,798.44 | | Total Liabilities | 3,379,929,501.51 | 3,331,107,948.69 | | Total Owners' Equity | 2,227,840,740.13 | 1,912,725,359.14 | | Cash and Bank Balances | 593,064,455.05 | 841,505,825.81 | | Trading Financial Assets | 105,143,089.05 | 30,294,756.19 | | Inventories | 2,009,944,957.41 | 1,774,375,861.08 | | Fixed Assets | 753,236,260.91 | 496,881,055.69 | | Construction in Progress | 156,867,887.30 | 339,312,524.54 | | Short-Term Borrowings | 160,082,331.88 | 156,829,166.08 | | Contract Liabilities | 1,503,651,869.64 | 1,417,321,560.83 | | Bonds Payable | | 166,618,260.51 | | Share Capital | 209,321,325.00 | 198,425,942.00 | [2. Parent Company Balance Sheet](index=71&type=section&id=2.%20Parent%20Company%20Balance%20Sheet) As of June 30, 2024, parent company total assets were 2.89 billion yuan, with a slight increase from the beginning of the period, marked by decreased cash and increased other receivables and long-term equity investments. Parent Company Balance Sheet Key Data | Item | Ending Balance (yuan) | Beginning Balance (yuan) | | :--- | :--- | :--- | | Total Assets | 2,889,279,961.53 | 2,869,501,547.34 | | Total Current Assets | 1,589,598,018.61 | 1,667,059,028.81 | | Total Non-Current Assets | 1,299,681,942.92 | 1,202,442,518.53 | | Total Liabilities | 1,253,341,846.66 | 1,430,846,627.76 | | Total Owners' Equity | 1,635,938,114.87 | 1,438,654,919.58 | | Cash and Bank Balances | 468,390,159.46 | 705,658,488.77 | | Other Receivables | 64,384,277.23 | 3,874,699.80 | | Long-Term Equity Investments | 568,920,153.64 | 538,209,785.84 | | Construction in Progress | 31,217,105.78 | 92,132,866.54 | | Bonds Payable | | 166,618,260.51 | | Share Capital | 209,321,325.00 | 198,425,942.00 | [3. Consolidated Income Statement](index=73&type=section&id=3.%20Consolidated%20Income%20Statement) In H1 2024, consolidated total operating revenue was 1.12 billion yuan, up 30.45%, with net profit attributable to parent company shareholders increasing by 79.35% to 161.74 million yuan. Consolidated Income Statement Key Data | Item | 2024 Semi-Annual (yuan) | 2023 Semi-Annual (yuan) | | :--- | :--- | :--- | | Total Operating Revenue | 1,120,967,709.73 | 859,292,731.36 | | Total Operating Costs | 981,263,424.48 | 781,742,395.77 | | Operating Profit | 198,823,238.84 | 105,079,814.24 | | Total Profit | 200,823,536.71 | 105,611,163.34 | | Net Profit | 181,079,014.98 | 98,948,975.38 | | Net Profit Attributable to Parent Company Shareholders | 161,738,318.44 | 90,182,769.17 | | Net Other Comprehensive Income After Tax | 616,096.87 | -214,737.53 | | Total Comprehensive Income | 181,695,111.85 | 98,734,237.85 | | Basic Earnings Per Share (yuan/share) | 0.79 | 0.49 | | Diluted Earnings Per Share (yuan/share) | 0.79 | 0.47 | [4. Parent Company Income Statement](index=75&type=section&id=4.%20Parent%20Company%20Income%20Statement) In H1 2024, parent company operating revenue was 463.48 million yuan, with net profit increasing by 59.97% to 90.12 million yuan, and investment income reaching 29.49 million yuan. Parent Company Income Statement Key Data | Item | 2024 Semi-Annual (yuan) | 2023 Semi-Annual (yuan) | | :--- | :--- | :--- | | Operating Revenue | 463,479,307.10 | 417,238,743.62 | | Operating Profit | 98,450,932.60 | 59,867,691.51 | | Total Profit | 98,603,758.08 | 60,128,391.16 | | Net Profit | 90,118,193.25 | 56,342,289.04 | | Investment Income | 29,492,340.88 | 24,747,130.35 | | Net Other Comprehensive Income After Tax | 616,096.87 | -214,737.53 | | Total Comprehensive Income | 90,734,290.12 | 56,127,551.51 | [5. Consolidated Cash Flow Statement](index=77&type=section&id=5.%20Consolidated%20Cash%20Flow%20Statement) In H1 2024, consolidated net cash flow from operating activities was -28.97 million yuan, a 139.82% decrease, resulting in a net decrease of 255.72 million yuan in cash and cash equivalents. Consolidated Cash Flow Statement Key Data | Item | 2024 Semi-Annual (yuan) | 2023 Semi-Annual (yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -28,972,442.85 | 72,760,546.15 | | Net Cash Flow from Investing Activities | -211,215,880.13 | -168,936,304.98 | | Net Cash Flow from Financing Activities | -15,301,005.95 | 150,821,657.57 | | Net Increase in Cash and Cash Equivalents | -255,721,894.72 | 55,127,812.15 | | Cash and Cash Equivalents at End of Period | 565,992,158.83 | 616,770,605.05 | [6. Parent Company Cash Flow Statement](index=78&type=section&id=6.%20Parent%20Company%20Cash%20Flow%20Statement) In H1 2024, parent company net cash flow from operating activities was 40.81 million yuan, up 137.82%, while net cash from investing and financing activities were negative, leading to a 237 million yuan net decrease in cash and cash equivalents. Parent Company Cash Flow Statement Key Data | Item | 2024 Semi-Annual (yuan) | 2023 Semi-Annual (yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 40,812,496.04 | 17,153,361.46 | | Net Cash Flow from Investing Activities | -170,655,546.19 | -40,277,515.12 | | Net Cash Flow from Financing Activities | -106,725,295.56 | 33,915,250.84 | | Net Increase in Cash and Cash Equivalents | -236,800,911.50 | 11,275,896.79 | | Cash and Cash Equivalents at End of Period | 467,021,401.15 | 491,268,552.91 | [7. Consolidated Statement of Changes in Owners' Equity](index=79&type=section&id=7.%20Consolidated%20Statement%20of%20Changes%20in%20Owners'%20Equity) In H1 2024, consolidated owners' equity increased by 16.47% to 2.23 billion yuan, driven by a 10.90 million yuan increase in share capital from convertible bond conversion and a 185.24 million yuan increase in capital reserves. Consolidated Owners' Equity Changes | Item | Beginning Balance (yuan) | Change Amount for Current Period (yuan) | Ending Balance (yuan) | | :--- | :--- | :--- | :--- | | Share Capital | 198,425,942.00 | 10,895,383.00 | 209,321,325.00 | | Other Equity Instruments | 28,055,503.80 | -28,055,503.80 | | | Capital Reserves | 799,957,908.70 | 185,235,257.37 | 985,193,166.07 | | Other Comprehensive Income | -3,346,422.43 | 739,897.32 | -2,606,525.11 | | Special Reserves | 12,366,328.71 | 2,631,388.23 | 14,997,716.94 | | Surplus Reserves | 71,198,315.42 | -12,380.05 | 71,185,935.37 | | Retained Earnings | 595,754,789.27 | 98,970,657.12 | 694,725,446.39 | | Total Owners' Equity Attributable to Parent Company | 1,702,412,365.47 | 270,404,699.19 | 1,972,817,064.66 | | Minority Interests | 210,312,993.67 | 44,710,681.80 | 255,023,675.47 | | **Total Owners' Equity** | **1,912,725,359.14** | **315,115,380.99** | **2,227,840,740.13** | [8. Parent Company Statement of Changes in Owners' Equity](index=84&type=section&id=8.%20Parent%20Company%20Statement%20of%20Changes%20in%20Owners'%20Equity) In H1 2024, parent company owners' equity increased by 13.71% to 1.64 billion yuan, primarily due to a 10.90 million yuan increase in share capital from convertible bond conversion and a 185.24 million yuan increase in capital reserves. Parent Company Owners' Equity Changes | Item | Beginning Balance (yuan) | Change Amount for Current Period (yuan) | Ending Balance (yuan) | | :--- | :--- | :--- | :--- | | Share Capital | 198,425,942.00 | 10,895,383.00 | 209,321,325.00 | | Other Equity Instruments | 28,055,503.80 | -28,055,503.80 | | | Capital Reserves | 778,998,992.37 | 185,235,257.37 | 964,234,249.74 | | Other Comprehensive Income | -3,346,422.43 | 739,897.32 | -2,606,525.11 | | Special Reserves | 5,443,752.69 | 1,130,009.52 | 6,573,762.21 | | Surplus Reserves | 71,198,315.42 | -12,380.05 | 71,185,935.37 | | Retained Earnings | 359,878,835.73 | 27,350,531.93 | 387,229,367.66 | | **Total Owners' Equity** | **1,438,654,919.58** | **197,283,195.29** | **1,635,938,114.87** | [3. Company Overview](index=87&type=section&id=3.%20Company%20Overview) Rayhoo Automotive Mould Co., Ltd., established in March 2002, has a current share capital of 209,321,325 shares, specializing in automotive mould, jig, and lightweight manufacturing, with financial statements approved on August 17, 2024. - Rayhoo Automotive Mould Co., Ltd., formerly Rayhoo Automotive Mould Co., Ltd., was jointly established by Wuhu Chery Technology Co., Ltd., natural person Chen Zhihua, and Taiwan Fuzhen Industrial Co., Ltd. in March 2002[163](index=163&type=chunk) - The company's total share capital has changed to **209,321,325 shares**, primarily due to the conversion and early redemption of "Rayhoo Convertible Bonds"[167](index=167&type=chunk) - The company's main business activities include the development, design, and manufacturing of automotive moulds, jigs, fixtures, body welding assemblies, and white bodies, research and development of automotive body lightweight manufacturing technology, robot integration, and the manufacturing, installation, commissioning, and maintenance of automotive automation production line equipment and non-standard automotive equipment[167](index=167&type=chunk) - These financial statements were approved for issuance by the company's board of directors on August 17, 2024[167](index=167&type=chunk) [4. Basis of Financial Statement Preparation](index=90&type=section&id=4

| | 资金往来方名 | 往来方与上市公 | 上市公司核 | 2024 | 年期初 | 2024 年 1-6 | 月往 | 2024 年 | 1-6 月 | 2024年1-6月偿 | 2024年6月末往 | 往来形成 | 往来性质 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 其他关联资金往来 | | | 算的会计科 | | | 来累计发生金额 | | 往来资金的利 | | 还累计发生金 | | | （经营性往来、非 | | | 称 | 司的关联关系 | | 往来资金余额 | | | | | | | 来资金余额 | 原因 | | | | | | 目 | | | （不含利息） | | | 息（如有） | 额 | | | 经营性往来） | | 控股股东、实际控制人 及其附属企业 | | | | | | | | | | | | | | | 上市公司的子公司及其 附属企业 | 芜湖瑞鹄浩博 模具有限公司 | 子公司 | 其他应收款 | | - | 7,500.00 | | | 39.7 ...