一、主要会计数据和财务指标 前十大流通股东累计持有： 25038.1万股，累计占流通股比： 35.47%，较上期变化： 501.89万股。 | 名称 | 持有数量(万股) | 占总股本比例(%) | 增减情况(万股) | | --- | --- | --- | --- | | 常州投资集团有限公司 | 22766.34 | 32.26 | 不变 | | 华商甄选回报混合A | 410.30 | 0.58 | 新进 | | 陈建 | 360.98 | 0.51 | -1.80 | | 华商远见价值混合A | 334.37 | 0.47 | 新进 | | KGI ASIA LIMITED | 310.02 | 0.44 | 不变 | | 华商乐享互联灵活配置混合A | 185.39 | 0.26 | 新进 | | 张云珍 | 185.00 | 0.26 | 新进 | | 金元顺安元启灵活配置混合 | 170.00 | 0.24 | 新进 | | 黎穗南 | 160.03 | 0.23 | 不变 | | 章文兵 | 155.67 | 0.22 | 不变 | | | 较上个报告期退出前十大股东有 | | | | 万水 ...

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 ...

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].

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 in 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, up 77.41% from CNY 0.0934 in 2020[24] - The total assets at the end of 2021 reached CNY 4,860,382,961.26, a 22.96% increase from CNY 3,952,954,464.45 at the end of 2020[24] - The net assets attributable to shareholders increased by 35.38% to CNY 3,077,550,018.33 at the end of 2021, compared to CNY 2,273,349,347.02 at the end of 2020[24] - The company reported a weighted average return on equity of 3.86% for 2021, an increase from 2.40% in 2020[24] - The company reported a gross margin of 14.65% in the internal combustion engine sector, slightly down by 0.18% from the previous year[53] - The company reported a significant increase in revenue, with a year-on-year growth of 15% in 2021[98] Cash Flow and Investments - The cash flow from operating activities showed a negative net amount of CNY -266,323,779.30 in 2021, compared to a positive CNY 251,796,654.53 in 2020[24] - Operating cash inflow decreased by 17.66% to ¥1,878,728,640.47 in 2021 from ¥2,281,623,334.91 in 2020, while cash outflow increased by 5.68% to ¥2,145,052,419.77[64] - Investment cash inflow decreased by 31.75% to ¥385,966,151.68 in 2021, while investment cash outflow increased by 18.54% to ¥851,480,343.34[65] - 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] Sales and Market Performance - The total sales volume of internal combustion engines in 2021 reached 50.47 million units, representing a year-on-year growth of 7.82%[35] - Diesel engine sales totaled 6.11 million units in 2021, a decline of 3.67% compared to the previous year, while gasoline engine sales increased by 9.67% to 44.35 million units[35] - The company sold a total of 749,300 diesel and gasoline engines in 2021, generating sales revenue of 2.452 billion yuan, an increase of 6.79% compared to the previous year[46] - Domestic sales accounted for ¥2,038,317,678.97, or 83.11% of total revenue, with a growth of 6.00% year-on-year[51] Research and Development - The company is committed to R&D driven by market demand, ensuring that new products align with customer feedback and market trends[38] - The company has filed 22 patents during the reporting period, with 19 patents granted, bringing the total to 152 authorized patents, including 12 invention patents[44] - Research and development expenses increased by 14.02% to ¥82,390,284.14, reflecting the company's commitment to innovation[59] - The company is developing several new products, including a silent variable frequency generator and a hybrid diesel-electric engine, to meet market demands and regulatory requirements[60] Corporate Governance and Management - The company has established a complete set of internal control systems covering financial asset control, human resource management, quality environment management, and internal audit supervision[103] - The governance structure of the company complies with relevant laws and regulations, ensuring the protection of the rights and interests of all shareholders[103] - The company has a dedicated financial department with an independent accounting system and financial management practices, ensuring no interference from the controlling shareholder in financial activities[104] - The company has independent directors, including Wang Mancang, Xing Min, and Zhang Yan, each receiving CNY 10 million in remuneration[117] Future Outlook and Strategic Initiatives - The company aims to achieve a sales revenue of 2.3 billion yuan in 2022, with a focus on ensuring the launch of 10,000 new products[91] - The company is focusing on high-end products that are intelligent, connected, and electronic, integrating advanced technologies such as big data and artificial intelligence[90] - The company is planning to relocate its manufacturing base to optimize operational efficiency and support future growth[29] - The company is actively developing new energy projects, including lithium battery separator projects, to enhance its market position[29] Risks and Challenges - The company is facing market risks due to low grain prices and changing user demand, which has shifted from rigid demand to stock updates[91] - The company acknowledges the risk of raw material price fluctuations and aims to improve operational efficiency through better inventory and cost management[92] - The company is implementing measures to mitigate the impact of rising raw material prices, including a cost reduction strategy projected to save 50 million yuan annually[98] Shareholder Engagement and Dividends - The company plans to distribute a cash dividend of CNY 0.26 per 10 shares, based on a total of 705,692,507 shares[7] - The company approved a cash dividend of 0.26 yuan per 10 shares (including tax), with a total cash dividend amounting to 18,348,005.18 yuan, representing 100% of the profit distribution[131] - The company has increased its shareholder base, indicating growing investor interest and confidence in its business strategy[29] Compliance and Regulatory Matters - The company is focused on maintaining compliance with legal and regulatory requirements, as evidenced by the revisions to various internal policies and procedures[119] - The company has not faced any administrative penalties due to environmental issues during the reporting period[143] - The company has not reported any significant discrepancies in its governance practices compared to regulatory requirements[103]

Financial Performance - The company's operating revenue for Q1 2021 was ¥774,218,489.69, representing a 43.87% increase compared to ¥537,033,349.19 in the same period last year[8] - Net profit attributable to shareholders for Q1 2021 reached ¥24,571,254.83, a significant increase of 1,649.72% from ¥1,510,305.60 in Q1 2020[8] - The net profit after deducting non-recurring gains and losses was ¥23,604,960.00, up 1,969.31% from ¥1,271,708.92 in the previous year[8] - The basic earnings per share for Q1 2021 was ¥0.0438, reflecting a 1,652.00% increase from ¥0.0027 in Q1 2020[8] - Total operating revenue for Q1 2021 was CNY 774,218,489.69, an increase of 43.8% compared to CNY 538,139,070.21 in Q1 2020[42] - Net profit attributable to shareholders for Q1 2021 was CNY 700,725,008.16, compared to CNY 677,800,436.75 in Q1 2020, showing a growth of 3.4%[40] - The net profit for Q1 2021 reached CNY 24,661,100.37, compared to CNY 1,411,153.29 in Q1 2020, representing a significant increase of 1,646.5%[44] - The total comprehensive income for Q1 2021 was CNY 152,836,000.37, compared to a loss of CNY 39,575,846.71 in Q1 2020[44] - The operating profit for Q1 2021 was CNY 29,422,499.79, compared to CNY 2,657,096.04 in Q1 2020, marking an increase of 1,008.5%[44] - The total profit for Q1 2021 was CNY 29,479,344.38, up from CNY 2,419,521.34 in the same period last year, reflecting an increase of 1,116.5%[44] Assets and Liabilities - Total assets at the end of Q1 2021 were ¥4,133,968,635.47, an increase of 4.58% from ¥3,952,954,464.45 at the end of the previous year[8] - The net assets attributable to shareholders increased by 6.72% to ¥2,426,095,501.85 from ¥2,273,349,347.02 at the end of the previous year[8] - Total assets as of March 31, 2021, amounted to CNY 3,930,748,858.46, an increase from CNY 3,732,798,948.61 at the end of 2020[39] - Total liabilities as of March 31, 2021, were CNY 1,587,656,200.67, compared to CNY 1,540,805,762.23 at the end of 2020, indicating a rise of 3.0%[40] - Current assets decreased to CNY 2,385,083,180.99 from CNY 2,419,073,056.21, a decline of about 1.41%[32] - Non-current assets totaled CNY 1,748,885,454.48, up from CNY 1,533,881,408.24, marking an increase of about 14.01%[33] Cash Flow - The net cash flow from operating activities for Q1 2021 was -¥184,484,392.45, compared to a positive cash flow of ¥19,241,295.96 in the same period last year[8] - Cash flow from operating activities decreased by 203,474,326.11 yuan compared to the same period last year, mainly due to increased accounts receivable and rising procurement costs[18] - The company reported a cash flow from operating activities of CNY -184,484,392.45 for Q1 2021, a decrease from CNY 18,989,933.66 in the same period last year[51] - Operating cash inflow for the first quarter was CNY 459,339,887.24, an increase of 26.7% compared to CNY 362,432,798.44 in the previous year[55] - Operating cash outflow increased significantly to CNY 641,555,404.68, up from CNY 340,248,855.79, resulting in a net cash flow from operating activities of CNY -182,215,517.44[55] - Investment activities generated a net cash outflow of CNY -88,164,988.36, compared to CNY -21,610,432.63 in the same period last year[55] - Financing activities produced a net cash inflow of CNY 1,336,624.99, a recovery from a net outflow of CNY -54,875.67 in the previous year[56] - The total cash and cash equivalents at the end of the period decreased to CNY 290,529,451.00 from CNY 498,295,739.16 year-over-year[56] - The company reported a significant decrease in cash and cash equivalents, with a net decrease of CNY -269,043,880.81 compared to an increase of CNY 518,634.35 in the previous year[56] Shareholder Information - The company reported a total of 57,470 common shareholders at the end of the reporting period[13] - The company plans to continue its non-public offering of shares, which has received approval from the controlling shareholder and regulatory authorities[20] - The company has not engaged in any repurchase transactions during the reporting period[18] - There are no significant non-operating fund occupations by controlling shareholders or related parties during the reporting period[27] Research and Development - The company reported R&D expenses of CNY 19,118,309.57 for Q1 2021, up from CNY 15,470,032.84 in Q1 2020, reflecting a 23.5% increase[42] - Research and development expenses for Q1 2021 amounted to CNY 18,500,648.53, an increase from CNY 15,078,747.40 in Q1 2020[47] Operational Activities - Accounts receivable increased by 381,338,419.54 yuan, up 96.02%, primarily due to the company's market expansion strategy and longer payment terms with major clients[18] - Construction in progress increased by 56,104,226.82 yuan, up 84.36%, due to higher investment in the subsidiary Jiangsu Changchai Machinery[18] - Other current assets decreased by 8,672,474.35 yuan, down 31.77%, mainly due to a reduction in VAT receivables[18] - Employee compensation payable decreased by 21,068,831.24 yuan, down 42.03%, as prior period wages and bonuses were partially paid[18] - The company is actively expanding its lithium battery separator project, with ongoing discussions about customer engagement and operational profitability[29] - The company is focusing on its new energy sector layout, indicating strategic investments and partnerships in this area[29] - The company has been responding to national rural revitalization measures, showcasing its commitment to social responsibility and market expansion[29] Accounting Adjustments - The company did not classify any non-recurring gains or losses as regular gains or losses during the reporting period[12] - The company has made adjustments to previous accounting errors, which were approved by the board on July 29, 2020[8]