Changchai Company, Limited SEMI-Financial Report For the Year 2025 I Auditor's Report Whether the Semi-Annual Report is Audited □Yes √No The Company's semi-annual financial statements are unaudited. II Financial Statements Currency unit for the financial statements and the notes thereto: RMB 1. Consolidated Balance Sheet Prepared by Changchai Company, Limited 30 June 2025 Unit: RMB | Item | Closing balance | Opening balance | | --- | --- | --- | | Current assets: | | | | Monetary assets | 858,358,461.42 | 1 ...

Financial Performance - The company reported a basic earnings per share of 0.0620 yuan for Q1 2025, representing a 35.08% increase compared to 0.0459 yuan in Q1 2024 [1] - The net profit for Q1 2025 was 0.44 billion yuan, up 37.5% from 0.32 billion yuan in Q1 2024 [1] - The return on equity (ROE) improved to 1.29% in Q1 2025 from 0.95% in Q1 2024, marking a 35.79% increase [1] Shareholder Structure - The top ten unrestricted shareholders collectively hold 25,038.1 million shares, accounting for 35.47% of the circulating shares, with an increase of 501.89 million shares compared to the previous period [1] - The largest shareholder, Changzhou Investment Group Co., Ltd., holds 22,766.34 million shares, representing 32.26% of the total share capital, with no change in holdings [2] - New entrants among the top shareholders include Huashang Zhenxuan Return Mixed A and Huashang Yuanjian Value Mixed A, while several previous shareholders have exited the top ten [2] Dividend Policy - The company has decided not to distribute dividends or transfer shares in the current period [3]

Financial Performance - The company's basic earnings per share decreased by 82.95% to 0.0262 yuan in 2024 from 0.1537 yuan in 2023 [1] - Net profit fell by 83.33% to 0.18 billion yuan in 2024 compared to 1.08 billion yuan in 2023 [1] - Operating revenue increased by 12.06% to 24.16 billion yuan in 2024 from 21.56 billion yuan in 2023 [1] - The return on equity dropped to 0.55% in 2024 from 3.19% in 2023, a decline of 82.76% [1] Shareholder Structure - The top ten unrestricted shareholders hold a total of 24,536.21 million shares, accounting for 34.78% of the circulating shares, with a decrease of 755,900 shares compared to the previous period [1] - Changzhou Investment Group Co., Ltd. remains the largest shareholder with 22,766.34 million shares, unchanged from the previous report [2] - New entrants among the top shareholders include Wan Shuiqing and Wang Ying, while Wu Chunhua, Chen Hengjun, and Xue Hong have exited the top ten [2] Dividend Distribution - The company announced a dividend distribution of 0.1 yuan per share (including tax) [3]

Financial Performance - The company's operating revenue for the first half of 2024 was CNY 1,495,909,152.63, representing a year-on-year increase of 10.77% compared to CNY 1,350,517,639.85 in the same period last year[11]. - The net profit attributable to shareholders of the listed company decreased by 62.03% to CNY 50,097,655.15 from CNY 131,937,324.66 in the previous year[11]. - The basic earnings per share dropped to CNY 0.0710, down 62.03% from CNY 0.1870 in the same period last year[11]. - The company reported a net cash flow from operating activities of CNY -161,814,513.00, worsening from CNY -104,796,816.75 in the previous year[11]. - The gross profit margin for the reporting period was maintained, with operating income totaling CNY 1.496 billion, while operating costs increased by 6.69% to CNY 1.247 billion[21]. - The total comprehensive income for the first half of 2024 was -44,237,400.00 CNY, compared to a positive income in the previous year, highlighting a downturn in overall financial performance[103]. - The company reported a decrease in cash and cash equivalents to ¥791,920,099.90, down 6.15% from the previous year, due to increased market expansion efforts[26]. Assets and Liabilities - The total assets at the end of the reporting period increased by 3.29% to CNY 5,329,179,139.07 from CNY 5,159,394,958.92 at the end of the previous year[11]. - The total liabilities increased to CNY 1,881,890,221.86, compared to CNY 1,689,326,839.34, marking a rise of approximately 11.43%[84]. - Current liabilities totaled CNY 1,695,741,168.26, up from CNY 1,484,687,487.34, indicating an increase of around 14.19%[84]. - The company's total equity at the end of the reporting period was CNY 3,470,068,119.58, reflecting a decrease due to the comprehensive loss reported[103]. Market and Industry Position - The company operates in the internal combustion engine manufacturing industry, focusing on diesel and gasoline engines for agricultural and engineering machinery, with a significant market presence in Southeast Asia, South America, the Middle East, and Africa[15]. - The company has a high market share in single-cylinder diesel engines, ranking first in certain power segments, making it the largest manufacturer of small and medium power single-cylinder diesel engines in the agricultural machinery sector in China[17]. - National policies, such as the implementation of the National IV emission standards and agricultural machinery subsidies, are driving demand for high-quality agricultural machinery and engines, creating a favorable market environment[17]. Research and Development - The company’s R&D investment reached CNY 38.77 million, up 8.16% compared to the previous year, with a focus on developing lightweight engines and enhancing emission reduction capabilities[21]. - The company has established a market-oriented R&D model, ensuring that new products align with market needs and customer feedback, enhancing product adaptability and technological leadership[17]. - The company is focused on high-quality product development, with a shift towards high-end, intelligent agricultural machinery, aligning with national strategic goals for modernization[15]. Risks and Challenges - The company has outlined potential risks and countermeasures in the report, emphasizing the importance of risk awareness for investors[2]. - The company is facing market risks due to increased competition and a shift towards high-end and intelligent agricultural machinery, prompting a focus on product optimization and internal management[38]. - Raw material price volatility poses a risk to manufacturing costs, and the company is implementing cost management and supply chain optimization strategies[40]. Cash Flow and Investments - The company reported a net cash outflow from operating activities of CNY -161.81 million, compared to CNY -104.80 million in the previous year[21]. - The net cash flow from investment activities was -114,337,074.66 CNY, contrasting with a positive cash flow of 83,445,420.74 CNY in the first half of 2023, marking a significant shift in investment performance[101]. - The company received a total of CNY 117 million in compensation for property expropriation during the reporting period[18]. Shareholder and Dividend Information - The company plans not to distribute cash dividends or issue bonus shares for the reporting period[2]. - The total cash dividend amount for the last three years reached 33.17 million CNY, accounting for 60.97% of the average net profit over the same period[45]. - The total number of ordinary shareholders at the end of the reporting period is 53,323, with 10 shareholders holding more than 5% of the shares[70]. Compliance and Governance - The company has implemented a systematic internal control system covering financial management, investment management, and asset management to protect creditor rights[45]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[44]. - The financial statements were prepared in accordance with the relevant accounting standards, ensuring a true and complete reflection of the company's financial status[119].

Financial Performance - The company's operating revenue for 2023 was ¥2,155,698,787.49, a decrease of 1.21% compared to ¥2,182,043,095.61 in 2022[26] - The net profit attributable to shareholders for 2023 was ¥108,495,607.05, representing a significant increase of 41.48% from ¥76,684,796.91 in 2022[26] - The basic earnings per share for 2023 was ¥0.1537, up 41.40% from ¥0.1087 in 2022[26] - The net cash flow from operating activities for 2023 was ¥137,189,827.35, a decrease of 62.41% compared to ¥364,930,277.84 in 2022[26] - Total assets at the end of 2023 were ¥5,159,394,958.92, a decrease of 1.15% from ¥5,219,359,853.42 at the end of 2022[26] - The company's net assets attributable to shareholders increased by 3.48% to ¥3,398,946,911.23 at the end of 2023 from ¥3,284,710,665.90 at the end of 2022[27] - The company reported a significant improvement in net profit excluding non-recurring gains and losses, with a reduction in losses from ¥73,636,511.02 in 2022 to ¥47,466,184.54 in 2023[26] - The weighted average return on net assets for 2023 was 3.19%, an increase from 2.51% in 2022[26] Cash Flow and Investments - The company reported a net cash flow from operating activities of CNY 351.3 million in the fourth quarter, following negative cash flows in the first three quarters[31] - Operating cash inflow for 2023 was CNY 2,169,305,862.90, a slight increase of 0.87% compared to 2022[66] - Operating cash outflow increased by 13.80% to CNY 2,032,116,035.55, leading to a net cash flow from operating activities of CNY 137,189,827.35, down 62.41% year-on-year[66] - Investment cash inflow rose by 26.81% to CNY 1,197,150,475.33, while investment cash outflow decreased by 3.50% to CNY 1,044,165,754.31, resulting in a net cash flow from investing activities of CNY 152,984,721.02[66][67] - The net increase in cash and cash equivalents was CNY 161,278,557.41, a decrease of 34.95% compared to the previous year[66] Revenue Breakdown - The internal combustion engine industry contributed ¥2,110,376,920.43, accounting for 97.90% of total revenue, with a year-on-year decrease of 1.64%[52] - Diesel engine sales amounted to ¥1,908,040,669.16, representing 88.51% of total revenue, down 3.19% from the previous year[53] - Domestic sales were ¥1,778,018,604.18, making up 82.48% of total revenue, which is a decline of 4.30% year-on-year[52] Research and Development - Research and development expenses increased by 11.20% to ¥90,339,104.33 compared to ¥81,239,597.06 in 2022[61] - The number of R&D personnel decreased by 4.66% to 225 in 2023, with a slight decline in the proportion of R&D staff from 8.89% to 8.74%[64] - The company has a stable and efficient R&D team, with 155 valid patents, including 13 invention patents, and has received multiple awards for quality management and product innovation[46] - The company is focusing on developing oil-electric hybrid power products to enhance energy efficiency and reliability[64] Market and Product Development - The company continues to focus on the production and sales of diesel and gasoline engines, which are its main business operations[27] - The company has established an innovative technology management system for R&D, focusing on market demand and customer feedback to ensure product relevance[41] - The company is advancing its product development by integrating advanced technologies such as IoT, big data, and AI to improve diesel engine control and monitoring capabilities[95] - The company aims to diversify into new energy products, including hybrid power projects, and has made progress in developing a hybrid power platform with a maximum power of 15 kW[96] Corporate Governance - The company has maintained its commitment to corporate governance with the election of independent directors and a new supervisory board[112] - The company has established a comprehensive internal control system to ensure compliance with legal regulations and enhance operational governance, thereby protecting shareholder interests[105] - The company has not encountered any risks during the reporting period, as confirmed by the supervisory board[129] Shareholder Information - The company has a total of 705,692,507 shares as the basis for its cash dividend distribution[136] - The largest shareholder, Changzhou Investment Group Co., Ltd., holds 32.26% of the shares, totaling 227,663,417 shares[187] - The state-owned legal person holds 56,818,181 shares, accounting for 8.05% of the total shares[184] - The company has not issued any new shares or conducted any share buybacks during the reporting period[186] Employee and Management - The company reported a total of 2,573 employees at the end of the reporting period, with 1,677 in production, 187 in sales, 348 in technical roles, and 41 in finance[130] - The total remuneration for directors, supervisors, and senior management in 2023 amounted to CNY 903.96 million[119] - The company is committed to improving employee professional capabilities through systematic training aligned with business development needs[101] Risks and Challenges - The company is facing intensified market competition due to upgraded emission standards and is focusing on optimizing product performance and quality[97] - Raw material price volatility, particularly for steel and pig iron, poses a risk to manufacturing costs and profit margins, prompting the company to enhance cost management and supply chain optimization[100] - The company faces risks from fluctuations in exchange rates, which may adversely affect product sales, especially given its international market presence[100]

证券代码：000570、200570 证券简称：苏常柴A、苏常柴B 公告编号：2023-014 常柴股份有限公司 关于召开 2022 年年度报告业绩说明会的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 常柴股份有限公司（以下简称"公司"）2022 年年度报告于 2023 年 4 月 12 日在《证券时报》《大公报》、巨潮资讯网等媒体披露，为 加强投资者关系管理，便于广大投资者更深入、全面了解公司 2022 年年度报告和经营情况，公司定于 2023 年 4 月 20 日（星期四）举办 2022 年年度报告业绩说明会。本次业绩说明会将通过"全景网"平 台采用网络远程方式举行。具体情况如下： 一、业绩说明会安排 1、召开时间：2023 年 4 月 20 日（星期四）15:00-16:00 2、参会人员：公司董事长史新昆先生、总会计师蒋鹤先生、独立 董事张燕女士、董事会秘书何建江先生。 3、参会方式：本次年度业绩说明会将采用网络远程的方式举行， 投资者可登陆"全景 •路演天下"之"投资者关系互动平台" （http://ir.p5w.net）参与本次年度报告业绩 ...

Key Financial Data [Key Financial Indicators](index=1&type=section&id=Item%20(I).%20Key%20Accounting%20Data%20and%20Financial%20Indicators) In Q3 2022, operating revenue increased by 12.68% YoY, but YTD cumulative revenue decreased by 13.00% YoY; despite this, YTD net profit attributable to shareholders significantly grew by 28.47% due to substantial non-recurring gains and losses, while core business remained at a loss after excluding these items 2022 Q3 and YTD Key Financial Data | Indicator | Current Period (Q3) | YTD | YTD YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 545,599,669.07 | 1,723,822,161.11 | -13.00% | | Net Profit Attributable to Shareholders of Listed Company (RMB) | 150,405,621.57 | 135,810,351.96 | 28.47% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Items) (RMB) | -5,566,500.16 | -11,375,860.23 | N/A | | Net Cash Flow from Operating Activities (RMB) | N/A | -82,550,839.42 | N/A | | Basic Earnings Per Share (RMB/share) | 0.2131 | 0.1924 | 10.96% | | Total Assets (RMB) | 5,399,636,868.12 | 5,399,636,868.12 | 11.09% (vs. End of Prior Year) | | Total Equity Attributable to Shareholders of Listed Company (RMB) | 3,301,798,721.38 | 3,301,798,721.38 | 7.29% (vs. End of Prior Year) | [Non-recurring Gains and Losses Analysis](index=2&type=section&id=Item%20(II).%20Non-recurring%20Gains%20and%20Losses%20and%20Amounts) YTD non-recurring gains and losses totaled **RMB 147.19 million**, serving as the primary source of net profit attributable to shareholders, largely driven by **RMB 159.94 million** in fair value changes from financial assets held for trading, mainly due to the increased fair value of the company's equity stake in Jiangsu Housheng New Energy Technology Co., Ltd YTD Non-recurring Gains and Losses Items | Item | Amount (RMB) | Explanation | | :--- | :--- | :--- | | Gains/Losses from Changes in Fair Value of Financial Assets/Liabilities Held for Trading | 159,941,932.72 | Primarily due to increased fair value gains from equity investment in Jiangsu Housheng New Energy Technology Co., Ltd | | Government Grants | 3,046,711.99 | - | | Other Non-operating Income and Expenses | 2,660,006.90 | - | | Gains/Losses on Disposal of Non-current Assets | -361,395.36 | - | | **Total** | **147,186,212.19** | - | [Changes and Reasons for Key Financial Data](index=2&type=section&id=Item%20(III).%20Changes%20and%20Reasons%20for%20Key%20Accounting%20Data%20and%20Financial%20Indicators) During the reporting period, significant changes occurred across the company's balance sheet, income statement, and cash flow statement; accounts receivable surged by **164.62%** due to market expansion, and other non-current financial assets increased by **232.00%** due to fair value gains from equity investments, while fair value change gains and investment income were key drivers of profit growth, and net cash flow from financing activities sharply declined by **91.51%** due to the absence of a private placement seen in the prior year Consolidated Balance Sheet Major Changes (Period-end vs. Period-start) | Item | YoY Change | Reason for Change | | :--- | :--- | :--- | | Accounts Receivable | 164.62% | To expand market share, appropriate credit was extended, and multi-cylinder engine customers have longer payment terms | | Other Non-current Financial Assets | 232.00% | Increased fair value gains from equity investment in Jiangsu Housheng New Energy Technology Co., Ltd | | Fixed Assets | 71.84% | Construction in progress of subsidiaries transferred to fixed assets | | Construction in Progress | -70.80% | Construction in progress of subsidiaries transferred to fixed assets | | Short-term Borrowings | 230.39% | Increase in discounted but unexpired bank acceptance bills with lower credit ratings | Consolidated Income Statement Major Changes (YTD) | Item | YoY Change | Reason for Change | | :--- | :--- | :--- | | Financial Expenses | N/A | Increase in exchange gains and interest income | | Gains from Changes in Fair Value | 44.78% | Increase in fair value of equity investment in Jiangsu Housheng New Energy Technology Co., Ltd | | Investment Income | 59.71% | Increased dividends received from Jiangsu Bank and wealth management income | | Non-operating Income | 195.30% | Goodwill generated from the acquisition of 41.5% equity in Zhenjiang Siyang Diesel Engine Manufacturing Co., Ltd | Consolidated Cash Flow Statement Major Changes (YTD) | Item | YoY Change | Reason for Change | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | N/A | Decrease in procurement expenditures due to production and sales volume impact, coupled with intensified collection efforts | | Net Cash Flow from Investing Activities | N/A | Lower investment in construction in progress this period compared to the previous period | | Net Cash Flow from Financing Activities | -91.51% | Previous period included proceeds from a non-public stock offering, no such event this period | Shareholder Information [Total Common Shareholders, Number of Preferred Shareholders with Restored Voting Rights, and Top Ten Shareholder Holdings](index=4&type=section&id=Item%20(I).%20Total%20Common%20Shareholders%2C%20Number%20of%20Preferred%20Shareholders%20with%20Restored%20Voting%20Rights%20and%20Top%20Ten%20Shareholder%20Holdings) As of the reporting period end, the company had **53,393** common shareholders, with Changzhou Investment Group Co., Ltd., a state-owned legal entity, being the largest shareholder holding **32.26%** of shares, while other top ten shareholders each held less than 1% - As of the end of the reporting period, the company had **53,393** common shareholders and no preferred shareholders[12](index=12&type=chunk) Top Ten Shareholder Holdings | Shareholder Name | Shareholder Type | Holding Percentage | Number of Shares Held | | :--- | :--- | :--- | :--- | | Changzhou Investment Group Co., Ltd. | State-owned Legal Entity | 32.26% | 227,663,417 | | Chen Jian | Domestic Individual | 0.70% | 4,905,900 | | KGI ASIA LIMITED | Overseas Legal Entity | 0.44% | 3,101,695 | | Dai Wenping | Domestic Individual | 0.38% | 2,705,200 | | Yang Xue'e | Domestic Individual | 0.30% | 2,111,900 | | Su Zhenxing | Domestic Individual | 0.23% | 1,592,093 | | Li Suinan | Domestic Individual | 0.22% | 1,569,100 | | Huang Guoliang | Domestic Individual | 0.22% | 1,528,891 | | Xue Hong | Domestic Individual | 0.20% | 1,398,100 | | Tao Xiaofang | Domestic Individual | 0.19% | 1,310,000 | Other Significant Matters [Other Significant Matters](index=5&type=section&id=Item%20III.%20Other%20Significant%20Matters) During the reporting period, the company completed two significant external investments: successfully acquiring a **41.5%** equity stake in Zhenjiang Siyang Diesel Engine Manufacturing Co., Ltd., which has been consolidated, and increasing its investment in Jiangsu Housheng New Energy Technology Co., Ltd. by **RMB 75 million** to further expand its presence in the new energy sector - The company successfully acquired a **41.5%** equity stake in Zhenjiang Siyang Diesel Engine Manufacturing Co., Ltd. for **RMB 33.52 million** and consolidated it in May 2022[14](index=14&type=chunk) - The company increased its investment in Jiangsu Housheng New Energy Technology Co., Ltd. by **RMB 75 million**, holding a total of **5.36%** of its shares after the capital increase[14](index=14&type=chunk) Quarterly Financial Statements [Financial Statement Details](index=6&type=section&id=Item%20(I).%20Financial%20Statements) This section presents the unaudited consolidated balance sheet as of September 30, 2022, and the consolidated income statement and consolidated cash flow statement for the period from the beginning of the year to the end of the reporting period [Consolidated Balance Sheet](index=6&type=section&id=1.%20Consolidated%20Balance%20Sheet) As of September 30, 2022, the company's total assets were **RMB 5.40 billion**, an **11.09%** increase from the beginning of the year; total liabilities were **RMB 2.03 billion**, with a debt-to-asset ratio of **37.54%**; and total equity attributable to the parent company was **RMB 3.30 billion**, a **7.29%** increase from the beginning of the year Consolidated Balance Sheet Summary (2022-09-30) | Item | Amount (RMB) | Change vs. Beginning of Year | | :--- | :--- | :--- | | Total Assets | 5,399,636,868.12 | 11.09% | | Total Liabilities | 2,026,999,015.61 | 14.95% | | Total Equity Attributable to Parent Company Shareholders | 3,301,798,721.38 | 7.29% | | Total Equity | 3,372,637,852.51 | 8.90% | [Consolidated Income Statement (YTD)](index=9&type=section&id=2.%20Consolidated%20Income%20Statement%20(YTD)) YTD, the company achieved operating revenue of **RMB 1.72 billion**, a **13.00%** YoY decrease, with operating costs of **RMB 1.53 billion** and a gross profit margin of approximately **11.4%**; despite the revenue decline, operating profit increased by **20.73%** to **RMB 155.38 million** due to **RMB 147.19 million** in fair value change gains, resulting in a net profit attributable to the parent company of **RMB 135.81 million**, a **28.47%** YoY increase Consolidated Income Statement Summary (YTD 2022-09-30) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Total Operating Revenue | 1,723,822,161.11 | 1,981,354,126.38 | | Operating Profit | 155,379,086.24 | 128,702,362.47 | | Total Profit | 158,032,713.14 | 129,489,473.06 | | Net Profit Attributable to Parent Company Shareholders | 135,810,351.96 | 105,710,713.42 | [Consolidated Cash Flow Statement (YTD)](index=11&type=section&id=3.%20Consolidated%20Cash%20Flow%20Statement%20(YTD)) YTD, net cash flow from operating activities was **-RMB 82.55 million**, a significant improvement from **-RMB 316.19 million** in the prior year; net cash outflow from investing activities was **RMB 50.71 million**, substantially lower than **RMB 427.87 million** in the prior year primarily due to reduced investment in construction in progress this period; and net cash inflow from financing activities was **RMB 52.00 million**, far below **RMB 612.39 million** in the prior year mainly due to the absence of proceeds from a non-public stock offering Consolidated Cash Flow Statement Summary (YTD 2022-09-30) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -82,550,839.42 | -316,185,740.11 | | Net Cash Flow from Investing Activities | -50,712,854.83 | -427,869,678.24 | | Net Cash Flow from Financing Activities | 52,000,140.67 | 612,388,654.75 | | Net Increase in Cash and Cash Equivalents | -81,263,553.58 | -131,666,763.60 | [Audit Opinion](index=12&type=section&id=Item%20(II).%20Audit%20Report) The company's Q3 2022 report is unaudited - The company's third-quarter report is unaudited[28](index=28&type=chunk)

Financial Performance - The company's operating revenue for the first half of 2022 was ¥1,178,222,492.04, a decrease of 21.30% compared to ¥1,497,170,455.80 in the same period last year[23]. - The net profit attributable to shareholders of the listed company was a loss of ¥14,595,269.61, compared to a profit of ¥129,189,065.60 in the previous year[23]. - The net cash flow from operating activities was -¥74,300,501.12, an improvement from -¥92,554,120.06 in the same period last year[23]. - The basic and diluted earnings per share were both -¥0.0207, compared to ¥0.2301 in the same period last year[23]. - The weighted average return on net assets was -0.48%, down from 5.51% in the previous year[23]. - The company reported a significant drop in investment amounting to ¥33,520,800.00, down 82.34% from ¥189,850,000.00 in the same period last year[67]. - The company reported a total comprehensive income of -63,862,151.69 yuan for the first half of 2022, compared to 235,988,430.34 yuan in the same period of 2021[156]. - The company reported a net profit of -2.33 million for its wholly-owned subsidiary, Changzhou Housheng Investment, primarily due to declines in stock fair value[82]. Assets and Liabilities - The total assets at the end of the reporting period were ¥4,956,058,838.71, an increase of 1.97% from ¥4,860,382,961.26 at the end of the previous year[23]. - The net assets attributable to shareholders of the listed company decreased by 2.69% to ¥2,994,802,512.99 from ¥3,077,550,018.33 at the end of the previous year[23]. - As of the end of the reporting period, cash and cash equivalents amounted to ¥572,221,826.49, representing 11.55% of total assets, a decrease of 3.02% compared to the previous year[62]. - Accounts receivable increased significantly to ¥915,456,685.20, accounting for 18.47% of total assets, up by 10.75% year-on-year, attributed to market expansion and longer payment terms for multi-cylinder engine customers[62]. - Inventory decreased to ¥533,700,662.32, making up 10.77% of total assets, down by 2.63% from the previous year[62]. - Fixed assets rose to ¥710,380,148.39, representing 14.33% of total assets, an increase of 6.04% due to the completion of construction projects[63]. - Total liabilities increased to ¥1,599,194,766.84 as of June 30, 2022, compared to ¥1,550,271,487.61 at the start of the year[152]. Research and Development - The company has established a market-oriented R&D model, ensuring that new products align with market demand through sales department evaluations and customer feedback[33]. - The company has a stable and efficient R&D team with experienced technical management, ensuring strong talent support for future product development[45]. - The company's R&D investment was 40.16 million yuan, down 11.03% from the previous year[56]. - Research and development expenses amounted to 38,111,512.10 yuan, down 13.7% from 44,159,551.96 yuan in the same period last year[158]. - The company holds 150 authorized patents, including 10 invention patents, and filed 19 new patent applications during the reporting period[52]. Market and Sales - In the first half of 2022, the cumulative sales of internal combustion engines reached 21.45 million units, a year-on-year decrease of 14.42%, with diesel engine sales at 2.29 million units, down 30.05%[40]. - The company holds a significant market share in single-cylinder diesel engines, ranking first in certain power segments nationally, and is the largest manufacturer of small and medium power single-cylinder diesel engines in the agricultural machinery sector[42]. - The company's internal sales revenue decreased by 19.98% to 1.019 billion yuan, while external sales revenue dropped by 28.83% to 159 million yuan[58]. - The company sold 317,500 units of various diesel and gasoline engines, generating sales revenue of 1.178 billion yuan, a decrease of 21.30% compared to the same period last year[48]. Operational Challenges - The company faced challenges in production and logistics due to the pandemic, leading to delays and cancellations of some orders[56]. - The company is addressing industry risks from the rise of new energy vehicles by advancing projects in the new energy sector and enhancing product development[84]. - The company plans to maintain operational efficiency through inventory management and cost control to counteract raw material price fluctuations[84]. Corporate Governance and Compliance - The company has not reported any significant changes in the measurement attributes of its main assets during the reporting period[65]. - The company has not engaged in any significant non-equity investments during the reporting period[70]. - The company has not reported any idle funds exceeding two years from the raised capital[76]. - The company has not engaged in any related party transactions during the reporting period[107]. - The semi-annual financial report has not been audited[103]. Shareholder Information - The total number of shares outstanding is 705,692,507, with a 100% ownership structure[128]. - The largest shareholder, Changzhou Investment Group Co., Ltd., holds 32.26% of the shares, totaling 227,663,417 shares[133]. - The company has no plans for share repurchase or reduction during the reporting period[130]. - There were no changes in the number of shareholders holding more than 5% of the shares during the reporting period[132]. Environmental and Social Responsibility - The company is committed to improving energy efficiency and reducing waste through energy-saving measures, contributing to environmental protection[96]. - The company received multiple honors, including "National Product and Service Quality Integrity Demonstration Enterprise" and "National Quality Credit Guarantee Product" during the reporting period[96].

Revenue and Profit - The company's revenue for Q1 2022 was ¥675,718,729.65, a decrease of 12.72% compared to ¥774,218,489.69 in the same period last year[3] - The net profit attributable to shareholders was a loss of ¥31,087,265.83, compared to a profit of ¥24,571,254.83 in the previous year[3] - The net profit attributable to shareholders decreased by ¥55,658,520.66, impacted by supply chain disruptions and increased raw material costs due to the pandemic[9] - Operating profit for the current period is -$38.63 million, compared to a profit of $29.42 million in the previous period[19] - Net profit for the current period is -$31.12 million, a significant decline from a profit of $24.66 million in the previous period[20] Cash Flow and Liquidity - The net cash flow from operating activities improved, with a net cash flow of -¥47,199,474.48, an increase from -¥184,484,392.45 year-on-year[3] - Cash flow from operating activities shows a net outflow of -$47.20 million, improving from -$184.48 million in the previous period[23] - Cash and cash equivalents decreased to CNY 610,076,929.08 from CNY 707,966,678.74, showing a reduction in available cash[15] - Cash and cash equivalents at the end of the period stand at $490.17 million, compared to $356.27 million at the end of the previous period[24] Assets and Liabilities - The company's total assets at the end of the reporting period were ¥4,838,318,261.38, a decrease of 0.45% from ¥4,860,382,961.26 at the end of the previous year[3] - The company's total liabilities increased to CNY 1,850,141,857.79 from CNY 1,763,408,711.95, indicating a rise in financial obligations[17] - The company's total equity decreased to CNY 2,988,176,403.59 from CNY 3,096,974,249.31, reflecting a decline in shareholder value[17] Accounts Receivable and Inventory - Accounts receivable increased by ¥417,768,603.86, up 111.34%, due to market expansion and longer payment terms with customers[6] - Accounts receivable increased significantly to CNY 792,977,730.34 from CNY 375,209,126.48, indicating improved sales or credit terms[15] - Inventory levels decreased to CNY 538,250,890.61 from CNY 651,083,758.18, suggesting better inventory management or reduced production[15] Investments and Acquisitions - The company successfully acquired a 41.5% stake in Zhenjiang Sihua Diesel Engine Manufacturing Co., Ltd., resulting in an increase in long-term equity investments by ¥33,520,800.00[6] - The company successfully acquired a 41.5% stake in Zhenjiang Sihua Diesel Engine Manufacturing Co., Ltd. for CNY 33,520,800.00, enhancing its market position[13] Financial Performance and Expenses - Financial expenses decreased by ¥3,710,731.26, primarily due to increased interest income during the reporting period[8] - The company reported an increase in investment income of ¥1,965,788.97, a year-on-year increase of 1050.72% from cash management activities[8] - Total operating costs decreased to $677.47 million, a reduction of 8.2% from $737.85 million in the previous period[19] - The company experienced a decrease in sales expenses to $29.57 million, down from $34.87 million in the previous period[19] - Research and development expenses remained stable at $19.65 million, slightly up from $19.12 million in the previous period[19] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 53,650[10] - Basic and diluted earnings per share for the current period are both -$0.0441, down from $0.0438 in the previous period[20] Other Comprehensive Income - The company reported a significant other comprehensive loss of -$77.68 million, contrasting with a gain of $128.17 million in the previous period[20]

Financial Performance - The company's operating revenue for 2021 was CNY 2,452,430,515.60, representing a 6.79% increase compared to CNY 2,296,464,711.24 in 2020[24]. - The net profit attributable to shareholders for 2021 was CNY 103,006,232.54, a significant increase of 96.46% from CNY 52,432,443.05 in 2020[24]. - The basic earnings per share for 2021 was CNY 0.1657, reflecting a 77.41% increase compared to CNY 0.0934 in 2020[24]. - The total assets at the end of 2021 amounted to CNY 4,860,382,961.26, which is a 22.96% increase from CNY 3,952,954,464.45 at the end of 2020[24]. - The net assets attributable to shareholders at the end of 2021 were CNY 3,077,550,018.33, up 35.38% from CNY 2,273,349,347.02 at the end of 2020[24]. - The cash flow from operating activities for 2021 was negative at CNY -266,323,779.30, compared to a positive CNY 251,796,654.53 in 2020[24]. - The company reported a decrease of 79.09% in net profit after deducting non-recurring gains and losses, amounting to CNY 5,329,092.87 in 2021[24]. - The weighted average return on equity for 2021 was 3.86%, an increase from 2.40% in 2020[24]. Sales and Market Performance - The total sales volume of internal combustion engines in 2021 reached 50.47 million units, a year-on-year increase of 7.82%[35]. - Diesel engine sales totaled 6.11 million units in 2021, a decrease of 3.67% compared to the previous year, while gasoline engine sales increased by 9.67% to 44.35 million units[35]. - The company has experienced a significant increase in sales for agricultural machinery engines, with a growth rate of 27.44% in 2021[36]. - The company sold a total of 749,300 units of diesel and gasoline engines in 2021, achieving a revenue of 2.452 billion yuan, representing a year-on-year growth of 6.79%[46]. Research and Development - The company is committed to R&D driven by market demand, ensuring that new products align with customer needs and technological advancements[38]. - The company has developed multiple advanced core technologies with independent intellectual property rights, enhancing its competitive edge in the market[41]. - The company has established a stable and efficient R&D team, with core technical personnel having extensive experience in the internal combustion engine field, ensuring strong talent support for future innovations[41]. - Research and development expenses increased by 14.02% to ¥82,390,284.14, reflecting the company's commitment to innovation[59]. - The company’s R&D personnel increased to 264 in 2021, a growth of 4.35% compared to 253 in 2020, with R&D personnel accounting for 9.55% of the total workforce[62]. Investment and Financing - The company successfully raised funds through a private placement, with the total operating revenue for 2021 reaching ¥2,452,430,515.60, a year-on-year increase of 6.79%[50]. - The company raised ¥634,999,936.40 through a private placement of 144,318,181 shares, resulting in a net cash inflow of ¥620,665,733.97 from financing activities[65]. - The total amount raised from the non-public offering was RMB 634,999,996.40, with a net amount of RMB 620,665,733.97 after deducting issuance costs[81]. - The company has pre-invested a total of ¥181,803,327.94 in fundraising projects before the funds were in place, with an additional ¥2,358,490.56 for issuance costs, totaling ¥184,161,818.50[85]. Corporate Governance - The company has a clear and independent business structure, allowing for effective management and operational autonomy[103]. - The company is committed to enhancing its governance structure in line with national laws and regulations, ensuring the protection of shareholder rights[102]. - The company’s board includes independent directors with diverse backgrounds in finance and management[109]. - The company’s management team has extensive experience in various sectors, including investment and technology[110]. - The company has a total of 12 directors and supervisors, with 5 of them receiving no remuneration from the company[115][116]. Future Outlook and Strategy - The company aims to achieve a sales revenue of 2.3 billion yuan in 2022, with a focus on ensuring the production of 10,000 units of new products[92]. - The company is exploring opportunities in the new energy sector, including investments in lithium battery projects and hydrogen fuel technologies[92]. - The company is focusing on high-end products that are intelligent and connected, incorporating advanced technologies such as big data and artificial intelligence[91]. - The company is actively engaged in the research and development of hybrid platforms, aiming to enhance its product offerings in the new energy sector[96]. - The company is strategically positioning itself in the new energy industry, with ongoing research and development efforts to innovate and capture market share[99]. Risk Management - The company faces market risks due to the agricultural industry's adjustment period and changing user demand, which has shifted from rigid to replacement needs[93]. - The company is addressing raw material price volatility by enhancing inventory and cost management to improve operational efficiency[94]. - The company is implementing a dual-brand strategy and integrated sales approach to mitigate foreign trade risks and enhance export performance[94]. Shareholder Information - The company reported a total of 0 shares held by all current directors and senior management[106]. - The total number of shareholders at the end of the reporting period was 49,947, down from 53,650 at the end of the previous month[189]. - The largest shareholder, Changzhou Investment Group, holds 32.26% of the shares, with a decrease of 56,818,181 shares during the reporting period[189]. Compliance and Internal Control - The company has established a comprehensive internal control system to ensure operational efficiency and compliance with regulations[102]. - The company maintained effective internal control over financial reporting in all material respects as of December 31, 2021[138]. - There were no significant defects identified in financial reporting or non-financial reporting[137].