Section I Important Notes and Definitions This section provides crucial disclaimers from management and defines key terms used throughout the report [Important Notes](index=2&type=section&id=Important%20Notes) Management guarantees report accuracy and completeness; no cash dividends, bonus shares, or capital increase from reserves planned - Company's board, supervisors, and senior management guarantee report truthfulness, accuracy, and completeness[3](index=3&type=chunk) - Company's responsible person, chief accountant, and head of accounting department declare financial report truthfulness and completeness[4](index=4&type=chunk) - Company plans no cash dividends, no bonus shares, and no capital increase from capital reserves[5](index=5&type=chunk) [Definitions](index=4&type=section&id=Definitions) Key terms like company, shareholders, subsidiaries, and main products are precisely defined for clarity - Report clearly defines key entities such as the company, controlling shareholder (**Xuzhou Yunyi Technology Development Co., Ltd.**), and actual controller (**Fu Hongling**)[10](index=10&type=chunk) - Main products include automotive electronics, automotive alternators, automotive rectifiers, automotive regulators, high-power automotive diodes, and precision insert molded parts[10](index=10&type=chunk) Section II Company Profile This section outlines the company's fundamental information, including registration details, contact points, and financial highlights [I. Company Information](index=5&type=section&id=I.%20Company%20Information) Basic corporate details, including stock code, legal representative, and registered address, are provided - Company stock abbreviation is "**Yunyi Electric**", stock code "**300304**"[12](index=12&type=chunk) - Legal representative is Fu Hongling, registered and office addresses are both at No. 26 Huangshan Road, Tongshan Economic Development Zone, Xuzhou, Jiangsu Province[12](index=12&type=chunk) [II. Contact Persons and Information](index=5&type=section&id=II.%20Contact%20Persons%20and%20Information) Contact details for the Board Secretary and Securities Affairs Representative are listed - Board Secretary is Li Chengzong, Securities Affairs Representative is Cheng Dan[13](index=13&type=chunk) - Contact address is No. 26 Huangshan Road, Tongshan Economic Development Zone, Xuzhou, Jiangsu Province, phone number is 0516-83306666[13](index=13&type=chunk) [III. Information Disclosure and Document Availability](index=5&type=section&id=III.%20Information%20Disclosure%20and%20Document%20Availability) Designated media and location for official information disclosure and report availability are specified - Designated information disclosure newspapers are "Shanghai Securities News" and "Securities Times"[14](index=14&type=chunk) - Designated website is Cninfo (http://www.cninfo.com.cn)[14](index=14&type=chunk) - Semi-annual report is available at the company's Securities Investment Department[14](index=14&type=chunk) [IV. Key Accounting Data and Financial Indicators](index=5&type=section&id=IV.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) The company reported stable revenue and net profit growth, with a significant increase in operating cash flow Key Accounting Data and Financial Indicators (Consolidated Statement) | Indicator | Current Period (RMB) | Prior Period (RMB) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 228,845,847.75 | 216,036,080.82 | 5.93% | | Net Profit Attributable to Ordinary Shareholders of Listed Company | 46,931,528.91 | 46,152,086.96 | 1.69% | | Net Profit Attributable to Ordinary Shareholders of Listed Company After Deducting Non-Recurring Gains and Losses | 40,167,232.72 | 40,502,829.83 | -0.83% | | Net Cash Flow from Operating Activities | 49,429,582.50 | 16,338,837.97 | 202.53% | | Basic EPS (RMB/share) | 0.23 | 0.23 | 0.00% | | Weighted Average ROE (%) | 4.88% | 5.04% | -0.16% | | **Period-End (RMB)** | **Prior Year-End (RMB)** | **Period-End vs. Prior Year-End Change (%)** | | Total Assets | 1,207,884,524.20 | 1,205,993,552.21 | 0.16% | | Owners' Equity Attributable to Ordinary Shareholders of Listed Company | 958,017,778.84 | 951,086,249.93 | 0.73% | [V. Non-Recurring Gains and Losses Items and Amounts](index=6&type=section&id=V.%20Non-Recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) Non-recurring gains and losses totaled **6.76 million yuan**, primarily from government subsidies and investment income Non-Recurring Gains and Losses Items and Amounts | Item | Amount (RMB) | | :--- | :--- | | Gains or losses from disposal of non-current assets | 71,264.83 | | Government subsidies recognized in current profit or loss | 3,815,100.00 | | Gains or losses from changes in fair value of financial assets held for trading and investment income from their disposal | 4,500,304.54 | | Other non-operating income and expenses | 78,247.29 | | Less: Income tax impact | 1,318,876.76 | | Minority interest impact (after tax) | 381,743.71 | | **Total** | **6,764,296.19** | - The company did not classify non-recurring gains and losses as recurring gains and losses during the reporting period[19](index=19&type=chunk) [VI. Differences in Accounting Data under Domestic and Overseas Accounting Standards](index=7&type=section&id=VI.%20Differences%20in%20Accounting%20Data%20under%20Domestic%20and%20Overseas%20Accounting%20Standards) No discrepancies were found between the company's financial data under domestic and international accounting standards - No differences in net profit and net assets under International Accounting Standards and Chinese Accounting Standards during the reporting period[20](index=20&type=chunk) - No differences in net profit and net assets under overseas accounting standards and Chinese Accounting Standards during the reporting period[21](index=21&type=chunk) [VII. Significant Risk Warnings](index=7&type=section&id=VII.%20Significant%20Risk%20Warnings) The company highlights risks related to macroeconomic cycles, product quality, technological innovation, and operational management - Company's main products are core automotive electronic products, and the downstream automotive industry is highly affected by the macro economy, posing cyclical fluctuation risks[22](index=22&type=chunk) - Downstream customers have strict quality requirements for automotive components, and the company faces potential adverse impacts on sales and brand image due to product quality defects[22](index=22&type=chunk) - Automotive electronic products undergo rapid technological updates, and the company faces risks of new product development failure or inability to keep up with new technologies, leading to loss of competitive advantage[24](index=24&type=chunk) - With rapid business growth, management needs to adapt promptly to market competition, industry development, and management risks arising from business expansion[25](index=25&type=chunk) Section III Board of Directors' Report This report details the company's financial performance, operational strategies, investment activities, and profit distribution plans [I. Financial Condition and Operating Results During the Reporting Period](index=9&type=section&id=I.%20Financial%20Condition%20and%20Operating%20Results%20During%20the%20Reporting%20Period) The company achieved stable revenue and net profit growth through strategic R&D, product upgrades, and market expansion - Company focuses on core products, enhancing R&D technology, upgrading product structure, and accelerating construction of fundraising projects to enrich product lines and industrialize new products[28](index=28&type=chunk) - Company actively expands into high-end and joint-venture automotive markets, accelerates import substitution, and utilizes M&A funds to strategically position itself in the smart and new energy vehicle industry chain[28](index=28&type=chunk)[29](index=29&type=chunk) Key Financial Data Year-on-Year Changes | Indicator | Current Period (RMB) | Prior Period (RMB) | YoY Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 228,845,847.75 | 216,036,080.82 | 5.93% | | | Operating Cost | 156,751,235.08 | 144,871,319.33 | 8.20% | | | Selling Expenses | 4,216,063.67 | 4,732,990.16 | -10.92% | | | Administrative Expenses | 23,145,963.21 | 20,957,330.31 | 10.44% | | | Financial Expenses | -4,427,065.80 | -4,174,389.42 | 6.05% | | | Income Tax Expense | 7,282,046.41 | 7,557,590.29 | -3.65% | | | Net Cash Flow from Operating Activities | 49,429,582.50 | 16,338,837.97 | 202.53% | Enhanced customer collection capability | | Net Cash Flow from Investing Activities | 133,305,027.20 | -103,357,768.23 | -229.02% | Recovery of wealth management product investment income at period-end | | Net Cash Flow from Financing Activities | -40,000,000.00 | 8,500,000.00 | -570.59% | Implementation of 2014 annual cash dividend during the reporting period | | Net Increase in Cash and Cash Equivalents | 143,042,500.84 | -78,365,314.07 | -282.53% | | [1. Overall Operating Performance During the Reporting Period](index=9&type=section&id=1.%20Overall%20Operating%20Performance%20During%20the%20Reporting%20Period) The company maintained stable growth by enhancing R&D, expanding product lines, and strategically investing in new energy vehicle sectors - Company continuously improves R&D technology, enhances quality and performance of core products, and promotes upgrading of main product structure[28](index=28&type=chunk) - Company accelerates construction of fundraising projects, enriches product lines, and strengthens industrialization of new products[28](index=28&type=chunk) - Company actively utilizes capital market tools, establishes M&A funds, and seeks excellent targets in smart and new energy vehicles and related industry chains to complete strategic layout[29](index=29&type=chunk) [2. Specific Factors Driving Changes in Business Revenue During the Reporting Period](index=10&type=section&id=2.%20Specific%20Factors%20Driving%20Changes%20in%20Business%20Revenue%20During%20the%20Reporting%20Period) Revenue growth was driven by import substitution, new client acquisition, and successful product industrialization from fundraising projects - Company accelerates import substitution, expands into joint-venture brand supporting fields, and has entered Dongfeng Nissan's supply system[33](index=33&type=chunk) - Fundraising projects are gradually releasing production capacity, and newly developed intelligent control products have passed customer verification and entered small-batch trial production, laying a foundation for the company's performance growth[33](index=33&type=chunk) [3. Main Business Operating Performance](index=10&type=section&id=3.%20Main%20Business%20Operating%20Performance) The company, a leader in automotive intelligent power controllers, reported revenue growth in rectifiers and regulators - Company's main business is R&D, production, and sales of automotive intelligent electronic products such as automotive intelligent power controllers, with main products including automotive rectifiers, regulators, and high-power automotive diodes[33](index=33&type=chunk) Main Business Composition (by Product or Service) | Product or Service | Operating Revenue (RMB) | Operating Cost (RMB) | Gross Margin (%) | YoY Change in Operating Revenue (%) | YoY Change in Operating Cost (%) | YoY Change in Gross Margin (%) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Rectifiers | 114,338,874.09 | 77,640,607.79 | 32.10% | 1.08% | 3.65% | -1.69% | | Regulators | 93,102,913.25 | 62,717,400.76 | 32.64% | 8.25% | 10.68% | -1.48% | | Other | 20,302,782.76 | 15,484,634.97 | 23.73% | 21.92% | 18.05% | 2.50% | [9. Macroeconomic and Industry Environment Analysis](index=11&type=section&id=9.%20Macroeconomic%20and%20Industry%20Environment%20Analysis) Despite a slowdown in the automotive industry, the company expanded market share and strategically invested in new energy vehicles - In the first half of 2015, China's automotive production and sales growth slowed, with passenger vehicle production and sales increasing by **11.18%** year-on-year, and commercial vehicles decreasing by **14.41%** year-on-year[38](index=38&type=chunk)[39](index=39&type=chunk) - Company leverages core competitive advantages to actively expand into high-end and joint-venture automotive markets, accelerating import substitution[40](index=40&type=chunk) - Company actively utilizes capital market tools, establishes M&A funds, and seizes opportunities from the rapid development of smart and new energy vehicles to complete strategic layout[40](index=40&type=chunk) [11. Risk Factors and Countermeasures](index=12&type=section&id=11.%20Risk%20Factors%20and%20Countermeasures) The company addresses macroeconomic, quality, technology, and management risks through R&D, quality control, and enhanced management - To address macroeconomic fluctuation risks, the company increases R&D investment, promotes product structure upgrades, develops high-end products, and accelerates industrialization of new products[42](index=42&type=chunk) - Company regards product quality as paramount, ensuring leading product quality through a comprehensive quality control system (ISO/TS16949) and continuous improvement[42](index=42&type=chunk) - Company emphasizes technology development, responding to technology development risks by aligning with international cutting-edge R&D concepts, increasing R&D investment, and improving R&D systems and mechanisms[43](index=43&type=chunk)[44](index=44&type=chunk) - To address management risks, the company strengthens management personnel training and improves OA, ERP, PDM platforms to enhance information management capabilities[44](index=44&type=chunk) [II. Investment Analysis](index=13&type=section&id=II.%20Investment%20Analysis) The company utilized raised funds for expansion and industrialization projects, with some delays, and engaged in entrusted wealth management Overall Use of Raised Funds | Indicator | Amount (RMB '0,000) | | :--- | :--- | | Total Raised Funds | 50,604 | | Total Raised Funds Invested This Period | 1,107.89 | | Total Raised Funds Cumulatively Invested | 34,579.74 | | Total Raised Funds Whose Use Changed This Period | 0 | | Total Raised Funds Whose Use Cumulatively Changed | 1,966.8 | | Ratio of Cumulatively Changed Raised Funds to Total Raised Funds (%) | 3.89% | - Company used **90 million yuan** of its own funds to purchase Guotai Junan Securities Income Certificate - Jun Guibao No. 1, with an expected return of **5.5647 million yuan**[58](index=58&type=chunk) [1. Use of Raised Funds](index=13&type=section&id=1.%20Use%20of%20Raised%20Funds) Raised funds were primarily allocated to expansion and industrialization projects, with some projects experiencing delays or changes Committed Projects for Raised Funds | Committed Investment Project and Over-Raised Fund Allocation | Project Changed | Adjusted Total Investment (1) (RMB '0,000) | Current Period Investment (RMB '0,000) | Cumulative Investment as of Period-End (2) (RMB '0,000) | Investment Progress as of Period-End (3)=(2)/(1) (%) | Achieved Expected Benefits | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Automotive Rectifier and Regulator Expansion Project | No | 8,464.46 | 245.33 | 8,607.59 | 101.69% | Yes | | High-Power Automotive Diode Industrialization Project | No | 9,679.25 | 45.19 | 9,840.81 | 101.67% | Yes | | Automotive Rectifier and Regulator Precision Insert Molded Parts Project | Yes | 3,707.3 | 0 | 1,995.51 | 53.83% | Yes | | Permanent Supplement to Working Capital | No | 21,851.01 | 0.04 | 1,906.18 | | | | Intelligent Motor and Control System | | 7,875 | 0 | 7,944.99 | 100.89% | No | | Rectifier and Regulator Production Line Technical Transformation Project | | 4,900 | 817.24 | 1,487.48 | 30.36% | No | | Shanghai R&D Center | | 4,600 | 0 | 2,797.09 | 60.81% | No | | Precision Connector and Heat Sink Assembly for Electronic Components Project | | 6,000 | 0.09 | 0.09 | | No | - Shanghai R&D Center project completion date was extended to December 31, 2015, due to technical upgrades and site layout optimization adjustments[49](index=49&type=chunk) - Implementation entity for the automotive rectifier and regulator precision insert molded parts project changed to subsidiary Yuntai Electric, and implementation location changed to Xuzhou High-tech Industrial Development Zone, leading to delayed investment progress[53](index=53&type=chunk) [4. Entrusted Wealth Management, Derivative Investments, and Entrusted Loans](index=17&type=section&id=4.%20Entrusted%20Wealth%20Management%2C%20Derivative%20Investments%2C%20and%20Entrusted%20Loans) The company engaged in **90 million yuan** of entrusted wealth management but had no derivative investments or entrusted loans Entrusted Wealth Management | Trustee Name | Product Type | Entrusted Wealth Management Amount (RMB '0,000) | Start Date | End Date | Expected Return (RMB '0,000) | Actual Gain/Loss (RMB '0,000) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Guotai Junan Securities Co., Ltd. | Guotai Junan Securities Income Certificate - Jun Guibao No. 1 (365-day term) | 9,000 | December 17, 2014 | December 16, 2015 | 556.47 | 0 | | **Total** | | **9,000** | | | **556.47** | **0** | - Funds for entrusted wealth management came from own funds, with no overdue principal or returns at the end of the reporting period[58](index=58&type=chunk) - Company had no derivative investments or entrusted loans during the reporting period[59](index=59&type=chunk)[60](index=60&type=chunk) [VII. Implementation of Company's Profit Distribution Plan During the Reporting Period](index=18&type=section&id=VII.%20Implementation%20of%20Company%27s%20Profit%20Distribution%20Plan%20During%20the%20Reporting%20Period) The **40 million yuan** cash dividend for 2014 was approved and is being implemented, adhering to transparent policies - Company's 2014 annual profit distribution plan was a cash dividend of **2.00 yuan** (tax inclusive) per 10 shares, totaling **40 million yuan**[62](index=62&type=chunk) - The profit distribution plan was approved by the shareholders' meeting on April 22, 2015, and will be implemented within two months[62](index=62&type=chunk) - Company's cash dividend policy complies with the articles of association, dividend standards are clear, decision-making procedures and mechanisms are complete, independent directors perform their duties diligently, and the rights of small and medium shareholders are fully protected[63](index=63&type=chunk)[64](index=64&type=chunk) [VIII. Profit Distribution and Capital Reserve to Share Capital Increase Plan for This Reporting Period](index=19&type=section&id=VIII.%20Profit%20Distribution%20and%20Capital%20Reserve%20to%20Share%20Capital%20Increase%20Plan%20for%20This%20Reporting%20Period) The company plans no cash dividends, bonus shares, or capital increase from capital reserves for this half-year - Company plans no cash dividends, no bonus shares, and no capital increase from capital reserves for the half-year[65](index=65&type=chunk) Section IV Significant Matters This section covers major events, including litigation, asset transactions, equity incentives, and related party dealings [I. Significant Litigation and Arbitration Matters](index=20&type=section&id=I.%20Significant%20Litigation%20and%20Arbitration%20Matters) The company reported no significant litigation or arbitration cases during the period - Company had no significant litigation or arbitration matters during this reporting period[68](index=68&type=chunk) [II. Asset Transaction Matters](index=20&type=section&id=II.%20Asset%20Transaction%20Matters) No asset acquisitions, disposals, or business combinations occurred during the reporting period - Company did not acquire assets during the reporting period[69](index=69&type=chunk) - Company did not dispose of assets during the reporting period[70](index=70&type=chunk) - Company did not engage in business combinations during the reporting period[71](index=71&type=chunk) [III. Implementation and Impact of Company's Equity Incentive Plan](index=20&type=section&id=III.%20Implementation%20and%20Impact%20of%20Company%27s%20Equity%20Incentive%20Plan) The company had no equity incentive plans or their implementation during the reporting period - Company had no equity incentive plan or its implementation during the reporting period[72](index=72&type=chunk) [IV. Significant Related Party Transactions](index=20&type=section&id=IV.%20Significant%20Related%20Party%20Transactions) No significant related party transactions were reported, including asset dealings or fund transfers - Company had no related party transactions related to daily operations during the reporting period[73](index=73&type=chunk) - Company had no related party transactions involving asset acquisition or disposal during the reporting period[74](index=74&type=chunk) - Company had no related party creditor/debtor relationships during the reporting period[75](index=75&type=chunk) - Company had no other significant related party transactions during the reporting period[76](index=76&type=chunk) [V. Significant Contracts and Their Performance](index=21&type=section&id=V.%20Significant%20Contracts%20and%20Their%20Performance) The company had no significant contracts, guarantees, or entrusted cash asset management during the period - Company had no entrustment, contracting, or leasing situations during the reporting period[77](index=77&type=chunk)[78](index=78&type=chunk)[79](index=79&type=chunk) - Company had no guarantee situations during the reporting period[80](index=80&type=chunk) - Company had no other significant contracts during the reporting period[83](index=83&type=chunk) [VI. Commitments by the Company or Shareholders Holding 5% or More of Shares](index=22&type=section&id=VI.%20Commitments%20by%20the%20Company%20or%20Shareholders%20Holding%205%25%20or%20More%20of%20Shares) Share lock-up commitments by major shareholders were fulfilled, and senior management share transfer restrictions are ongoing - Initial public offering share lock-up commitments by controlling shareholder **Xuzhou Yunyi Technology Development Co., Ltd.**, **Xuzhou Dezhan Trading Co., Ltd.**, **Xuzhou Ruiyi Investment Co., Ltd.**, and actual controller **Fu Hongling** were fulfilled on March 21, 2015[84](index=84&type=chunk) - Company's senior management (**Fu Hongling, Li Chengzong, Chang Zheng, Zhang Jing, Cai Chengru, Lin Zhenwei**) commitment not to transfer more than **25%** of their indirectly held company shares annually during their tenure is being normally fulfilled[85](index=85&type=chunk) - Company's commitment not to use raised funds to supplement working capital within the next twelve months has been fulfilled[85](index=85&type=chunk) - Li Chengzong and Feng Liang's commitment not to reduce their holdings of company shares through the secondary market within six months from July 8, 2015, is being normally fulfilled[85](index=85&type=chunk) [VII. Appointment and Dismissal of Accounting Firms](index=24&type=section&id=VII.%20Appointment%20and%20Dismissal%20of%20Accounting%20Firms) The company's semi-annual financial report was not subject to an audit - Company's semi-annual report was not audited[86](index=86&type=chunk) [VIII. Explanation of Other Significant Matters](index=24&type=section&id=VIII.%20Explanation%20of%20Other%20Significant%20Matters) No other significant matters requiring disclosure were identified during the reporting period - Company had no other significant matters requiring explanation during the reporting period[87](index=87&type=chunk) Section V Share Changes and Shareholder Information This section details changes in share structure, including restricted share releases and major shareholder holdings [I. Share Change Information](index=25&type=section&id=I.%20Share%20Change%20Information) **136 million** restricted shares were unrestricted, making all **200 million** shares unrestricted Share Change Information | Item | Quantity Before Change (shares) | Ratio Before Change (%) | Change (+,-) (shares) | Quantity After Change (shares) | Ratio After Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 136,000,000 | 68.00% | -136,000,000 | 0 | 0.00% | | II. Unrestricted Shares | 64,000,000 | 32.00% | 136,000,000 | 200,000,000 | 100.00% | | III. Total Shares | 200,000,000 | 100.00% | 0 | 200,000,000 | 100.00% | - Company's **136 million** restricted shares matured and were unrestricted on March 23, 2015[91](index=91&type=chunk) - China Securities Depository and Clearing Corporation issued the share change registration confirmation on March 19, 2015[92](index=92&type=chunk) [2. Changes in Restricted Shares](index=26&type=section&id=2.%20Changes%20in%20Restricted%20Shares) All **136 million** initial public offering restricted shares held by major shareholders were released Changes in Restricted Shares | Shareholder Name | Restricted Shares at Period-Start (shares) | Shares Unrestricted This Period (shares) | Restricted Shares at Period-End (shares) | Reason for Restriction | Proposed Unrestriction Date | | :--- | :--- | :--- | :--- | :--- | :--- | | Xuzhou Yunyi Technology Development Co., Ltd. | 104,257,600 | 104,257,600 | 0 | IPO Restriction | March 23, 2015 | | Xuzhou Dezhan Trading Co., Ltd. | 18,985,600 | 18,985,600 | 0 | IPO Restriction | March 23, 2015 | | Xuzhou Ruiyi Enterprise Management Co., Ltd. | 12,756,800 | 12,756,800 | 0 | IPO Restriction | March 23, 2015 | | **Total** | **136,000,000** | **136,000,000** | **0** | | | [II. Number of Shareholders and Shareholding Information](index=26&type=section&id=II.%20Number%20of%20Shareholders%20and%20Shareholding%20Information) The company had **9,090** shareholders, with top three holding **68%** and some shares pledged - Total number of shareholders at the end of the reporting period was **9,090**[96](index=96&type=chunk) Shareholding Information of Shareholders Holding 5% or More | Shareholder Name | Shareholder Nature | Shareholding Ratio (%) | Shares Held at Period-End (shares) | Unrestricted Shares Held (shares) | Pledged or Frozen (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | | Xuzhou Yunyi Technology Development Co., Ltd. | Domestic Non-State-Owned Legal Person | 52.13% | 104,257,600 | 104,257,600 | Pledged 10,650,000 | | Xuzhou Dezhan Trading Co., Ltd. | Domestic Non-State-Owned Legal Person | 9.49% | 18,985,600 | 18,985,600 | | | Xuzhou Ruiyi Enterprise Management Co., Ltd. | Domestic Non-State-Owned Legal Person | 6.38% | 12,756,800 | 12,756,800 | | - Xuzhou Yunyi Technology Development Co., Ltd. is the company's controlling shareholder, and company Chairman and General Manager Fu Hongling and her husband Li Chengzong hold its shares respectively[97](index=97&type=chunk) - Shareholders Wan Tao and Zhao Xiaowei held some shares through margin trading and securities lending accounts[98](index=98&type=chunk) [III. Changes in Controlling Shareholder or Actual Controller](index=28&type=section&id=III.%20Changes%20in%20Controlling%20Shareholder%20or%20Actual%20Controller) No changes occurred in the company's controlling shareholder or actual controller during the reporting period - Company's controlling shareholder did not change during the reporting period[99](index=99&type=chunk) - Company's actual controller did not change during the reporting period[99](index=99&type=chunk) Section VI Directors, Supervisors, and Senior Management Information This section details the shareholdings and any changes among the company's directors, supervisors, and senior management [I. Shareholdings and Stock Options of Directors, Supervisors, and Senior Management](index=29&type=section&id=I.%20Shareholdings%20and%20Stock%20Options%20of%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) Directors, supervisors, and senior management did not hold company shares or stock options - Company's directors, supervisors, and senior management did not hold company shares or stock options during the reporting period[101](index=101&type=chunk) [II. Changes in Company Directors, Supervisors, and Senior Management](index=29&type=section&id=II.%20Changes%20in%20Company%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) No changes occurred in the company's directors, supervisors, or senior management during the reporting period - Company's directors, supervisors, and senior management did not change during the reporting period[101](index=101&type=chunk) Section VII Financial Report This comprehensive section presents the company's unaudited financial statements, accounting policies, and detailed notes on various financial items [I. Audit Report](index=30&type=section&id=I.%20Audit%20Report) The company's semi-annual financial report was not subject to an audit - Company's semi-annual financial report was not audited[104](index=104&type=chunk) [II. Financial Statements](index=30&type=section&id=II.%20Financial%20Statements) Consolidated and parent company financial statements show **1.208 billion yuan** in assets and **46.93 million yuan** in net profit Consolidated Balance Sheet Key Data | Item | Period-End Balance (RMB) | Period-Start Balance (RMB) | | :--- | :--- | :--- | | Total Assets | 1,207,884,524.20 | 1,205,993,552.21 | | Total Liabilities | 159,155,155.48 | 164,360,800.53 | | Total Owners' Equity Attributable to Parent Company | 958,017,778.84 | 951,086,249.93 | | Total Owners' Equity | 1,048,729,368.72 | 1,041,632,751.68 | Consolidated Income Statement Key Data | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Total Operating Revenue | 228,845,847.75 | 216,036,080.82 | | Operating Profit | 50,414,051.33 | 50,372,383.95 | | Total Profit | 54,378,663.45 | 54,251,570.39 | | Net Profit | 47,096,617.04 | 46,693,980.10 | | Net Profit Attributable to Parent Company Owners | 46,931,528.91 | 46,152,086.96 | | Basic EPS | 0.23 | 0.23 | | Diluted EPS | 0.23 | 0.23 | Consolidated Cash Flow Statement Key Data | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 49,429,582.50 | 16,338,837.97 | | Net Cash Flow from Investing Activities | 133,305,027.20 | -103,357,768.23 | | Net Cash Flow from Financing Activities | -40,000,000.00 | 8,500,000.00 | | Net Increase in Cash and Cash Equivalents | 143,042,500.84 | -78,365,314.07 | | Cash and Cash Equivalents at Period-End | 395,436,112.04 | 327,075,890.26 | [III. Company Profile](index=48&type=section&id=III.%20Company%20Profile) The company, listed in 2012 with **200 million yuan** registered capital, specializes in automotive electronic products and consolidates three subsidiaries - Company was wholly converted into Jiangsu Yunyi Electric Co., Ltd. in 2010 and listed on the Shenzhen Stock Exchange on March 21, 2012[142](index=142&type=chunk)[143](index=143&type=chunk) - Company has a registered capital of **200 million yuan** and a total of **200 million** shares, primarily engaging in automotive parts, power electronic components, and automotive electronic devices, with main products being automotive rectifiers and regulators[142](index=142&type=chunk)[143](index=143&type=chunk) - Company includes three subsidiaries, **Xuzhou Yuntai Automotive Electric Appliance Co., Ltd.**, **Jiangsu Yunrui Automotive Electric System Co., Ltd.**, and **Suzhou Yunyi Precision Electronics Co., Ltd.**, in its consolidated financial statements[143](index=143&type=chunk) [IV. Basis of Financial Statement Preparation](index=49&type=section&id=IV.%20Basis%20of%20Financial%20Statement%20Preparation) Financial statements are prepared on a going concern basis, with no significant doubts about future operations - Company's financial statements are prepared on a going concern basis[144](index=144&type=chunk) - Company has no matters or circumstances that raise significant doubts about the going concern assumption for the 12 months from the end of the reporting period[145](index=145&type=chunk) [V. Significant Accounting Policies and Estimates](index=49&type=section&id=V.%20Significant%20Accounting%20Policies%20and%20Estimates) The company adheres to Enterprise Accounting Standards, using RMB as functional currency, with no significant policy changes - Company's financial statements comply with Enterprise Accounting Standards, accurately and completely reflecting financial position and operating results[146](index=146&type=chunk) - Company uses RMB as the functional currency and a 12-month period for classifying assets and liabilities as current or non-current[148](index=148&type=chunk)[149](index=149&type=chunk) - No significant changes in accounting policies and estimates during the reporting period[215](index=215&type=chunk) [VI. Taxation](index=63&type=section&id=VI.%20Taxation) Key taxes include VAT, Urban Maintenance Tax, and EIT, with the company enjoying a **15%** high-tech enterprise tax rate Main Tax Categories and Rates | Tax Category | Tax Basis | Tax Rate | | :--- | :--- | :--- | | Value-Added Tax | Sales of goods or provision of taxable services | 17%, Export tax refund rate 17% | | Urban Maintenance and Construction Tax | Amount of turnover tax payable | 7% | | Enterprise Income Tax | Taxable income | 15%, 25% | | Property Tax | Assessed at value, 1.2% of remaining value after a one-time deduction of 30% from original property value; assessed at rent, 12% of rental income | 1.2%, 12% | | Education Surcharge | Amount of turnover tax payable | 3% | | Local Education Surcharge | Amount of turnover tax payable | 2% | - The company and its controlling subsidiary **Yuntai Electric** enjoy high-tech enterprise tax incentives, paying Enterprise Income Tax at a **15%** rate[217](index=217&type=chunk) [VII. Notes to Consolidated Financial Statement Items](index=64&type=section&id=VII.%20Notes%20to%20Consolidated%20Financial%20Statement%20Items) Detailed notes on assets, liabilities, and income items, including **412 million yuan** in cash and **90 million yuan** in wealth management Cash and Bank Balances | Item | Period-End Balance (RMB) | Period-Start Balance (RMB) | | :--- | :--- | :--- | | Total | 412,477,038.21 | 270,263,871.20 | | Including: Other Cash and Bank Balances (Bank Acceptance Bill Deposits) | 17,040,926.17 | 13,670,260.00 | Notes Receivable | Item | Period-End Balance (RMB) | Period-Start Balance (RMB) | | :--- | :--- | :--- | | Bank Acceptance Bills | 85,103,355.87 | 85,164,353.96 | | Pledged Notes Receivable at Period-End | 54,977,765.06 | | Accounts Receivable | Item | Period-End Book Value (RMB) | Period-Start Book Value (RMB) | | :--- | :--- | :--- | | Total | 140,697,719.19 | 123,948,941.93 | | Total Bad Debt Provision | 10,421,031.12 | 9,464,017.00 | Inventories | Item | Period-End Book Value (RMB) | Period-Start Book Value (RMB) | | :--- | :--- | :--- | | Total | 102,941,220.14 | 124,962,608.36 | | Total Impairment Provision | 3,212,867.22 | 3,543,987.57 | Other Current Assets | Item | Period-End Balance (RMB) | Period-Start Balance (RMB) | | :--- | :--- | :--- | | Guotai Junan "Jun Guibao No. 1 (365-day term)" Principal-Protected Wealth Management Product | 90,000,000.00 | 90,000,000.00 | | VAT to be Deducted | 9,128,929.63 | 7,193,607.02 | | Total | 99,128,929.63 | 252,538,449.99 | Fixed Assets | Item | Period-End Book Value (RMB) | Period-Start Book Value (RMB) | | :--- | :--- | :--- | | Total | 199,459,661.57 | 206,470,402.35 | Construction in Progress | Item | Period-End Book Value (RMB) | Period-Start Book Value (RMB) | | :--- | :--- | :--- | | Intelligent Motor and Control System Project | 110,940,292.05 | 103,012,567.20 | | Automotive Rectifier and Regulator Production Line Technical Transformation Project | 11,858,954.98 | 3,883,685.69 | | Minor Projects | 16,662,360.84 | 7,955,114.84 | | Total | 139,461,607.87 | 114,851,367.73 | Deferred Income | Item | Period-Start Balance (RMB) | Increase This Period (RMB) | Decrease This Period (RMB) | Period-End Balance (RMB) | | :--- | :--- | :--- | :--- | :--- | | Government Grants | 23,158,000.00 | 7,000,000.00 | 1,484,000.00 | 28,674,000.00 | | Total | 23,158,000.00 | 7,000,000.00 | 1,484,000.00 | 28,674,000.00 | Operating Revenue and Operating Cost | Item | Current Period Amount - Revenue (RMB) | Current Period Amount - Cost (RMB) | Prior Period Amount - Revenue (RMB) | Prior Period Amount - Cost (RMB) | | :--- | :--- | :--- | :--- | :--- | | Main Business | 227,744,570.10 | 155,842,643.52 | 215,773,406.61 | 144,685,043.41 | | Other Business | 1,101,277.65 | 908,591.56 | 262,674.21 | 186,275.92 | | Total | 228,845,847.75 | 156,751,235.08 | 216,036,080.82 | 144,871,319.33 | Investment Income | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Wealth Management Product Income | 4,500,304.54 | 3,015,711.21 | | Total | 4,500,304.54 | 3,015,711.21 | Non-Operating Income | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Total Gains from Disposal of Non-Current Assets | 71,264.83 | | | Government Grants | 3,815,100.00 | 3,538,800.00 | | Other | 78,247.29 | 340,386.44 | | Total | 3,964,612.12 | 3,879,186.44 | Assets with Restricted Ownership or Use Rights | Item | Period-End Book Value (RMB) | Reason for Restriction | | :--- | :--- | :--- | | Cash and Bank Balances | 17,040,926.17 | Bank acceptance bill deposits | | Notes Receivable | 54,977,765.06 | Pledged for issuing bank acceptance bills | | Total | 72,018,691.23 | | [VIII. Changes in Consolidation Scope](index=99&type=section&id=VIII.%20Changes%20in%20Consolidation%20Scope) During the reporting period, the company established a new wholly-owned subsidiary, Suzhou Yunyi Precision Electronics Co., Ltd., and included it in the consolidated financial statements from its date of establishment - Company established a new wholly-owned subsidiary, **Suzhou Yunyi Precision Electronics Co., Ltd.**, with a registered capital of **60 million yuan**, and included it in the consolidated financial statements from its establishment date on June 16, 2015[430](index=430&type=chunk) [IX. Interests in Other Entities](index=101&type=section&id=IX.%20Interests%20in%20Other%20Entities) The company owns three subsidiaries: Yuntai Electric (63% stake), Yunrui Electric (52.5% stake), and Suzhou Yunyi (100% stake). Among them, Yuntai Electric and Yunrui Electric are significant non-wholly-owned subsidiaries, with minority interests balances of **21.17 million yuan** and **69.54 million yuan**, respectively Composition of the Enterprise Group | Subsidiary Name | Main Operating Location | Registered Location | Business Nature | Direct Shareholding Ratio (%) | | :--- | :--- | :--- | :--- | :--- | | Yuntai Electric Co. | Xuzhou, Jiangsu | Xuzhou, Jiangsu | Manufacturing | 63.00% | | Yunrui Electric Co. | Xuzhou, Jiangsu | Xuzhou, Jiangsu | Manufacturing | 52.50% | | Suzhou Yunyi Co. | Suzhou, Jiangsu | Suzhou, Jiangsu | Manufacturing | 100.00% | Significant Non-Wholly-Owned Subsidiaries | Subsidiary Name | Minority Shareholding Ratio (%) | Net Profit/Loss Attributable to Minority Shareholders This Period (RMB) | Minority Interest Balance at Period-End (RMB) | | :--- | :--- | :--- | :--- | | Yuntai Electric Co. | 37.00% | 854,770.49 | 21,168,155.64 | | Yunrui Electric Co. | 47.50% | -689,682.36 | 69,543,434.24 | [X. Risks Related to Financial Instruments](index=104&type=section&id=X.%20Risks%20Related%20to%20Financial%20Instruments) This section is reserved for discussing risks associated with the company's financial instruments [XI. Disclosure of Fair Value](index=104&type=section&id=XI.%20Disclosure%20of%20Fair%20Value) This section is reserved for disclosing the fair value measurements of financial instruments [XII. Related Parties and Related Party Transactions](index=104&type=section&id=XII.%20Related%20Parties%20and%20Related%20Party%20Transactions) The company's controlling shareholder is Xuzhou Yunyi Technology Development Co., Ltd. During the reporting period, the company had no significant related party transactions such as purchase/sale of goods, provision/acceptance of services, related party entrusted management/contracting, related party leasing, related party guarantees, related party fund transfers, or related party asset transfers/debt restructuring - The company's parent company is **Xuzhou Yunyi Technology Development Co., Ltd.**, with a registered capital of **3 million yuan** and a **52.13%** equity stake[443](index=443&type=chunk) - During the reporting period, the company had no related party transactions involving purchase/sale of goods or provision/acceptance of services[445](index=445&type=chunk)[446](index=446&type=chunk) - Company had no related party entrusted management/contracting, related party leasing, related party guarantees, related party fund transfers, or related party asset transfers/debt restructuring during the reporting period[447](index=447&type=chunk)[449](index=449&type=chunk)[451](index=451&type=chunk)[452](index=452&type=chunk)[454](index=454&type=chunk) [XIII. Share-Based Payment](index=107&type=section&id=XIII.%20Share-Based%20Payment) The company did not engage in any share-based payment arrangements during the reporting period - Company had no share-based payment situations during the reporting period[461](index=461&type=chunk) [XIV. Commitments and Contingencies](index=108&type=section&id=XIV.%20Commitments%20and%20Contingencies) No significant commitments or important contingent liabilities were identified as of the balance sheet date - As of the balance sheet date, the company had no significant commitments requiring disclosure[463](index=463&type=chunk) - As of the balance sheet date, the company had no important contingencies requiring disclosure[464](index=464&type=chunk)[465](index=465&type=chunk) [XV. Post-Balance Sheet Events](index=108&type=section&id=XV.%20Post-Balance%20Sheet%20Events) No significant non-adjusting events, profit distributions, or sales returns occurred after the balance sheet date - This section did not disclose significant non-adjusting events, profit distribution, sales returns, or other post-balance sheet events[466](index=466&type=chunk)[468](index=468&type=chunk)[469](index=469&type=chunk) [XVI. Other Significant Matters](index=109&type=section&id=XVI.%20Other%20Significant%20Matters) No other significant transactions or events impacting investor decisions were disclosed - This section did not disclose prior period accounting error corrections, debt restructuring, asset replacement, annuity plans, discontinued operations, segment information, or other significant transactions and matters affecting investor decisions[469](index=469&type=chunk)[471](index=471&type=chunk)[472](index=472&type=chunk)[473](index=473&type=chunk)[474](index=474&type=chunk) [XVII. Notes to Parent Company Financial Statement Key Items](index=110&type=section&id=XVII.%20Notes%20to%20Parent%20Company%20Financial%20Statement%20Key%20Items) Parent company financials show **140 million yuan** in accounts receivable and **164 million yuan** in long-term equity investments Parent Company Accounts Receivable | Item | Period-End Book Value (RMB) | Period-Start Book Value (RMB) | | :--- | :--- | :--- | | Total | 140,392,129.54 | 123,747,920.98 | | Total Bad Debt Provision | 10,404,947.45 | 9,453,436.95 | Parent Company Other Receivables | Item | Period-End Book Value (RMB) | Period-Start Book Value (RMB) | | :--- | :--- | :--- | | Total | 495,475.23 | 261,975.05 | | Total Bad Debt Provision | 26,577.64 | 16,427.73 | Parent Company Long-Term Equity Investments | Item | Period-End Book Value (RMB) | Period-Start Book Value (RMB) | | :--- | :--- | :--- | | Investments in Subsidiaries | 164,168,477.09 | 104,168,477.09 | | Total | 164,168,477.09 | 104,168,477.09 | - Parent company newly invested **60 million yuan** in **Suzhou Yunyi Co., Ltd.** this period[496](index=496&type=chunk) Parent Company Operating Revenue and Operating Cost | Item | Current Period Amount - Revenue (RMB) | Current Period Amount - Cost (RMB) | Prior Period Amount - Revenue (RMB) | Prior Period Amount - Cost (RMB) | | :--- | :--- | :--- | :--- | :--- | | Main Business | 227,592,484.03 | 161,375,346.10 | 215,773,406.61 | 150,176,306.11 | | Other Business | 797,192.77 | 636,706.14 | 262,674.21 | 186,275.92 | | Total | 228,389,676.80 | 162,012,052.24 | 216,036,080.82 | 150,362,582.03 | Parent Company Investment Income | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Bank Wealth Management Product Income | 4,043,911.99 | 2,495,695.91 | | Total | 4,043,911.99 | 2,495,695.91 | [XVIII. Supplementary Information](index=115&type=section&id=XVIII.%20Supplementary%20Information) This section provides details on non-recurring gains and losses and key profitability metrics like EPS and ROE Current Period Non-Recurring Gains and Losses Detailed Statement | Item | Amount (RMB) | | :--- | :--- | | Gains or losses from disposal of non-current assets | 71,264.83 | | Government subsidies recognized in current profit or loss | 3,815,100.00 | | Gains or losses from changes in fair value of financial assets held for trading and investment income from their disposal | 4,500,304.54 | | Other non-operating income and expenses | 78,247.29 | | Less: Income tax impact | 1,318,876.76 | | Minority interest impact | 381,743.71 | | **Total** | **6,764,296.19** | Return on Net Assets and Earnings Per Share | Profit for the Reporting Period | Weighted Average ROE (%) | Basic EPS (RMB/share) | Diluted EPS (RMB/share) | | :--- | :--- | :--- | :--- | | Net Profit Attributable to Ordinary Shareholders of the Company | 4.88% | 0.23 | 0.23 | | Net Profit Attributable to Ordinary Shareholders of the Company After Deducting Non-Recurring Gains and Losses | 4.18% | 0.20 | 0.20 | Section VIII Catalogue of Documents for Reference A list of official documents available for inspection, including signed financial statements and public disclosures - Reference documents include financial statements signed and sealed by the legal representative, chief accountant, and head of accounting department[507](index=507&type=chunk) - Reference documents also include original copies of all company documents and announcements disclosed on the designated website designated by the China Securities Regulatory Commission during the reporting period[507](index=507&type=chunk) - All reference documents are available at the company's Securities Investment Department[508](index=508&type=chunk)

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江苏云意电气股份有限公司 2014 年第三季度报告全文 江苏云意电气股份有限公司 2014 年第三季度报告 2014-046 2014 年 10 月 1 江苏云意电气股份有限公司 2014 年第三季度报告全文 第一节 重要提示 本公司董事会、监事会及其董事、监事、高级管理人员保证本报告所载资料不存在任何虚假记载、误 导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 除下列董事外，其他董事亲自出席了审议本次季报的董事会会议 | 未亲自出席董事姓名 | 未亲自出席董事职务 | 未亲自出席会议原因 | 被委托人姓名 | | --- | --- | --- | --- | | 邢敏 | 独立董事 | 出差 | 王卫东 | 公司负责人付红玲、主管会计工作负责人闫瑞及会计机构负责人(会计主管人员)闫瑞声明：保证季度 报告中财务报告的真实、完整。 2 江苏云意电气股份有限公司 2014 年第三季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否因会计政策变更及会计差错更正等追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上 ...

[Important Notice, Definitions](index=2&type=section&id=%E7%AC%AC%E4%B8%80%E8%8A%82%20%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA%E3%80%81%E9%87%8A%E4%B9%89) [Important Notice](index=2&type=section&id=%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) The company's Board of Directors, Supervisory Board, and senior management ensure the truthfulness, accuracy, and completeness of this semi-annual report, free from false records, misleading statements, or major omissions, with the financial report audited by Tianjian Certified Public Accountants and the Board approving the 2014 semi-annual profit distribution plan - All directors attended the board meeting to review this report, and the company's head, chief accountant, and accounting department head guarantee the truthfulness and completeness of the financial report[3](index=3&type=chunk)[4](index=4&type=chunk) 2014 Semi-Annual Profit Distribution Plan | Distribution Basis | Total Share Capital of **100,000,000 shares** as of June 30, 2014 | | :--- | :--- | | Cash Dividend | **1.00 yuan (tax inclusive)** per 10 shares | | Bonus Shares | **0 shares** | | Capital Reserve Conversion | **10 shares** converted per 10 shares | - The company's semi-annual financial report has been audited by Tianjian Certified Public Accountants (Special General Partnership) and received a standard audit report[4](index=4&type=chunk) [Definitions](index=4&type=section&id=%E9%87%8A%E4%B9%89) This section defines key company entity abbreviations, regulatory bodies, and professional terms used in the report, such as "Yunyi Electric" referring to Jiangsu Yunyi Electric Co., Ltd., with core products like "automotive rectifiers" and "automotive regulators" also specifically explained - Key entities in the report are clarified, for instance, "the Company" or "Yunyi Electric" refers to Jiangsu Yunyi Electric Co., Ltd., and "Controlling Shareholder" refers to Xuzhou Yunyi Technology Development Co., Ltd[8](index=8&type=chunk) - Core technical products in the automotive electronics sector are defined, including automotive generators, automotive rectifiers, automotive regulators, and high-power automotive diodes, facilitating investor understanding of the company's main business[8](index=8&type=chunk) [Company Profile](index=5&type=section&id=%E7%AC%AC%E4%BA%8C%E8%8A%82%20%E5%85%AC%E5%8F%B8%E5%9F%BA%E6%9C%AC%E6%83%85%E5%86%B5%E7%AE%80%E4%BB%8B) [Company Information and Contact Details](index=5&type=section&id=%E5%85%AC%E5%8F%B8%E4%BF%A1%E6%81%AF) This section provides the company's basic business information, including stock abbreviation "Yunyi Electric" (code 300304), legal representative, registered and office addresses, and contact details for the Board Secretary and Securities Affairs Representative Company Basic Information | Item | Content | | :--- | :--- | | Stock Abbreviation | Yunyi Electric | | Stock Code | 300304 | | Legal Representative | Fu Hongling | | Registered Address | No. 26 Huangshan Road, Tongshan Economic Development Zone, Xuzhou City, Jiangsu Province | | Email | dsh@yunyi-china.com | [Key Accounting Data and Financial Indicators](index=5&type=section&id=%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) During the reporting period, the company's total operating revenue was **216.04 million yuan**, a **2.19% year-on-year increase**; however, net profit attributable to shareholders was **46.15 million yuan**, a **6.83% year-on-year decrease**, basic earnings per share were **0.46 yuan**, down **8.00% year-on-year**, while net cash flow from operating activities increased by **9.85% year-on-year** 2014 Semi-Annual Key Financial Data | Indicator | Current Period | Prior Period | YoY Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue (yuan) | **216,036,080.82** | **211,401,958.32** | **2.19%** | | Net Profit Attributable to Shareholders (yuan) | **46,152,086.96** | **49,534,634.64** | **-6.83%** | | Net Profit Excluding Non-recurring Items (yuan) | **40,502,829.83** | **46,360,320.58** | **-12.63%** | | Net Cash Flow from Operating Activities (yuan) | **16,338,837.97** | **14,873,359.92** | **9.85%** | | Basic Earnings Per Share (yuan/share) | **0.46** | **0.50** | **-8.00%** | | Weighted Average Return on Net Assets | **5.04%** | **5.83%** | **-0.79%** | | Total Assets (yuan) | **1,172,248,007.89** | **1,121,646,487.74** | **4.51% (Period-end vs. Year-start)** | [Non-recurring Gains and Losses](index=6&type=section&id=%E9%9D%9E%E5%B8%B8%E8%A7%84%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%8F%8A%E9%87%91%E9%A2%9D) During the reporting period, the company's total non-recurring gains and losses amounted to **5.65 million yuan**, primarily comprising government grants recognized in current profit or loss of **3.54 million yuan** and investment income from holding financial assets at fair value through profit or loss of **3.02 million yuan** Non-recurring Gains and Losses Details | Item | Amount (yuan) | | :--- | :--- | | Government Grants | **3,538,800.00** | | Investment Income from Financial Assets at FVTPL | **3,015,711.21** | | Other Non-operating Income and Expenses | **340,386.44** | | Less: Income Tax Impact | **1,054,736.18** | | Less: Impact on Minority Interests | **190,904.34** | | **Total** | **5,649,257.13** | [Significant Risk Warnings](index=7&type=section&id=%E9%87%8D%E5%A4%A7%E9%A3%8E%E9%99%A9%E6%8F%90%E7%A4%BA) The company faces four main risks: cyclical fluctuations in the downstream automotive industry influenced by macroeconomics; product quality risks due to stringent quality requirements from vehicle manufacturers; technical development risks from rapid product iteration and potential new product development failures; and management risks arising from rapid business expansion - The company's business is highly correlated with the prosperity of the automotive industry, posing risks from macroeconomic cyclical fluctuations[20](index=20&type=chunk) - Downstream customers have low tolerance for product quality defects, and any quality issue could adversely affect sales and brand image[21](index=21&type=chunk) - The company must continuously develop technology to adapt to market demands, facing risks of new product development failure or inability to keep pace with technological upgrades[22](index=22&type=chunk)[23](index=23&type=chunk) - The expansion of the company's operating scale demands higher management capabilities in strategy, operations, finance, and internal control[24](index=24&type=chunk) [Board of Directors' Report](index=9&type=section&id=%E7%AC%AC%E4%B8%89%E8%8A%82%20%E8%91%A3%E4%BA%8B%E4%BC%9A%E6%8A%A5%E5%91%8A) [Financial Position and Operating Results](index=9&type=section&id=%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E8%B4%A2%E5%8A%A1%E7%8A%B6%E5%86%B5%E5%92%8C%E7%BB%8F%E8%90%A5%E6%88%90%E6%9E%9C) In the first half of 2014, the company achieved total operating revenue of **216.04 million yuan**, a **2.19% year-on-year increase**, but operating profit and net profit decreased by **8.20%** and **7.25%** respectively, with the profit decline mainly due to slower growth in domestic independent brand passenger vehicles, decreased export revenue, and increased costs from uncompleted fundraising projects, while the company made progress in technological innovation with new patents and smooth progress in fundraising projects, including the completed "Precision Insert Injection Molding Project" 2014 Semi-Annual Operating Performance | Indicator | Amount (ten thousand yuan) | YoY Growth | | :--- | :--- | :--- | | Total Operating Revenue | **21,603.61** | **2.19%** | | Operating Profit | **5,037.24** | **-8.20%** | | Total Profit | **5,425.16** | **-7.40%** | | Net Profit | **4,669.40** | **-7.25%** | - The main reasons for the profit decline include slower sales growth of domestic independent brand passenger vehicles (**1.78% year-on-year increase**), a **5.84% year-on-year decrease** in export revenue, and increased operating costs due to fundraising projects not yet fully reaching production capacity[33](index=33&type=chunk) - The fundraising project "Automotive Rectifier and Regulator Precision Insert Injection Molding Project" has been successfully completed, while others like the "Intelligent Motor and Control System Project" are progressing smoothly[28](index=28&type=chunk) - During the reporting period, the company and its controlled subsidiaries applied for **5 invention patents** and **11 utility model patents**, and obtained **1 invention patent** and **17 utility model patents**, holding a cumulative total of **130 patents**[29](index=29&type=chunk) [Main Business Operations](index=10&type=section&id=%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E7%BB%8F%E8%90%A5%E6%83%85%E5%86%B5) The company's main business is automotive intelligent power controllers, with core products being automotive rectifiers and regulators, where rectifier revenue was **113.11 million yuan**, a **3.42% year-on-year decrease**, and regulator revenue was **86.01 million yuan**, a **6.04% year-on-year increase**, with both core product gross margins experiencing slight declines, and regulator gross margin decreasing by **2.77 percentage points** Main Business by Product | Product | Operating Revenue (yuan) | Operating Cost (yuan) | Gross Margin | Revenue YoY Change | Cost YoY Change | Gross Margin YoY Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Rectifier | **113,114,923.43** | **74,903,225.85** | **33.78%** | **-3.42%** | **-3.04%** | **-0.26%** | | Regulator | **86,005,675.70** | **56,665,020.58** | **34.11%** | **6.04%** | **10.70%** | **-2.77%** | | Other | **16,652,807.48** | **13,116,796.98** | **21.23%** | **38.85%** | **42.94%** | **-2.26%** | [Investment Analysis](index=13&type=section&id=%E6%8A%95%E8%B5%84%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) During the reporting period, the company's investments primarily involved the use of raised funds and entrusted wealth management with self-owned funds, with a cumulative total of **296.30 million yuan** in raised funds invested, and **42.81 million yuan** invested in the current period mainly for automotive electronic product expansion, industrialization, and technical renovation projects, while the company also used **115 million yuan** of its own funds to purchase principal-protected bank wealth management products to enhance capital utilization efficiency Overall Use of Raised Funds (Unit: ten thousand yuan) | Item | Amount | | :--- | :--- | | Total Raised Funds | **50,604** | | Total Investment in Current Period | **4,281.05** | | Cumulative Total Investment | **29,629.72** | - Among the committed investment projects, the "Automotive Rectifier and Regulator Expansion Project" and "High-Power Automotive Diode Industrialization Project" have achieved their expected benefits, while projects funded by over-raised capital, such as the "Shanghai R&D Center" and "Intelligent Motor and Control System," are still under construction[49](index=49&type=chunk) - The company used **115 million yuan** of its own funds to purchase short-term principal-protected wealth management products from Agricultural Bank of China and Industrial Bank, with an expected return of **0.846 million yuan**[57](index=57&type=chunk)[58](index=58&type=chunk) [Profit Distribution Plan](index=19&type=section&id=%E6%9C%AC%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%88%A9%E6%B6%A6%E5%88%86%E9%85%8D%E5%8F%8A%E8%B5%84%E6%9C%AC%E5%85%AC%E7%A7%AF%E9%87%91%E8%BD%AC%E5%A2%9E%E8%82%A1%E6%9C%AC%E9%A2%84%E6%A1%88) Based on the favorable operating performance in the first half of 2014 and a commitment to shareholder returns, the company's Board of Directors proposed a semi-annual profit distribution plan, which, based on **100 million shares**, proposes a cash dividend of **1.00 yuan (tax inclusive)** per 10 shares and a capital reserve conversion of **10 shares** per 10 shares to all shareholders, pending approval by the general meeting of shareholders 2014 Semi-Annual Profit Distribution and Capitalization Plan | Item | Content | | :--- | :--- | | Dividend per 10 shares (yuan) | **1.00 (tax inclusive)** | | Shares converted per 10 shares (shares) | **10** | | Share Capital Basis for Distribution Plan (shares) | **100,000,000** | | Total Cash Dividend (yuan) | **10,000,000 (tax inclusive)** | - This plan aims to allow all shareholders to share in the company's rapid development and enhance stock liquidity, with the total share capital increasing to **200 million shares** after the capitalization[65](index=65&type=chunk)[66](index=66&type=chunk) [Significant Matters](index=21&type=section&id=%E7%AC%AC%E5%9B%9B%E8%8A%82%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) [Explanation of Significant Matters](index=21&type=section&id=%E9%87%8D%E5%A4%A7%E4%BA%8B%E9%A1%B9%E8%AF%B4%E6%98%8E) During the reporting period, the company did not experience any significant litigation or arbitration, major asset acquisitions or disposals, business combinations, equity incentives, significant related-party transactions, or major contracts - The company had no significant litigation or arbitration matters during this reporting period[69](index=69&type=chunk) - No asset acquisitions, disposals, or business combinations occurred during the reporting period[70](index=70&type=chunk)[71](index=71&type=chunk)[72](index=72&type=chunk) - There were no equity incentive plans, significant related-party transactions, or major contracts during the reporting period[73](index=73&type=chunk)[74](index=74&type=chunk)[78](index=78&type=chunk) [Fulfillment of Commitments](index=23&type=section&id=%E6%89%BF%E8%AF%BA%E4%BA%8B%E9%A1%B9) During the reporting period, the company and shareholders holding **5% or more** of its shares strictly fulfilled all commitments made during the initial public offering, particularly regarding share lock-up, with no violations observed - The company's controlling shareholder Yunyi Technology, actual controller Fu Hongling, and other related shareholders strictly adhered to the **36-month** share lock-up commitment from the listing date[85](index=85&type=chunk) - Shareholders serving as directors, supervisors, or senior management also complied with the commitment not to transfer more than **25%** of their shares annually during their tenure[86](index=86&type=chunk) [Share Changes and Shareholder Information](index=25&type=section&id=%E7%AC%AC%E4%BA%94%E8%8A%82%20%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E5%8F%8A%E8%82%A1%E4%B8%9C%E6%83%85%E5%86%B5) [Share Changes](index=25&type=section&id=%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) During the reporting period, the company's total share capital remained unchanged at **100 million shares**, but the share structure changed due to the lifting of restrictions on **3.5 million shares** held by GF Xinde Investment Management Co., Ltd., converting them from restricted to unrestricted shares, resulting in restricted shares decreasing to **68%** and unrestricted shares increasing to **32%** Share Changes (Unit: shares) | Share Type | Before Change | Change in Period | After Change | | :--- | :--- | :--- | :--- | | I. Restricted Shares | **71,500,000** | **-3,500,000** | **68,000,000** | | II. Unrestricted Shares | **28,500,000** | **+3,500,000** | **32,000,000** | | III. Total Shares | **100,000,000** | **0** | **100,000,000** | - The share change resulted from the lifting of restrictions on **3.5 million shares** committed by shareholder GF Xinde Investment Management Co., Ltd. prior to the initial public offering[90](index=90&type=chunk) [Shareholder Numbers and Shareholding](index=25&type=section&id=%E5%85%AC%E5%8F%B8%E8%82%A1%E4%B8%9C%E6%95%B0%E9%87%8F%E5%8F%8A%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5) As of the end of the reporting period, the company had **12,311 shareholders**, with the controlling shareholder, Xuzhou Yunyi Technology Development Co., Ltd., maintaining a stable **52.13%** stake, and among the top ten shareholders, excluding the controlling shareholder and its affiliates, the others were institutional and individual investors - The total number of shareholders at the end of the reporting period was **12,311**[92](index=92&type=chunk) Top Three Shareholders' Shareholding | Shareholder Name | Shareholding Percentage | Number of Shares Held (shares) | Share Nature | | :--- | :--- | :--- | :--- | | Xuzhou Yunyi Technology Development Co., Ltd. | **52.13%** | **52,128,800** | Restricted | | Xuzhou Dezhan Trading Co., Ltd. | **9.49%** | **9,492,800** | Restricted | | Xuzhou Ruiyi Investment Co., Ltd. | **6.38%** | **6,378,400** | Restricted | [Directors, Supervisors, and Senior Management](index=28&type=section&id=%E7%AC%AC%E5%85%AD%E8%8A%82%20%E8%91%A3%E4%BA%8B%E3%80%81%E7%9B%91%E4%BA%8B%E3%80%81%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E6%83%85%E5%86%B5) [Changes in Directors, Supervisors, and Senior Management](index=28&type=section&id=%E8%91%A3%E4%BA%8B%E3%80%81%E7%9B%91%E4%BA%8B%E5%92%8C%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) During the reporting period, there were no changes in the company's directors, supervisors, or senior management - There were no changes in the company's directors, supervisors, and senior management during the reporting period[96](index=96&type=chunk) [Financial Report](index=29&type=section&id=%E7%AC%AC%E4%B8%83%E8%8A%82%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E5%91%8A) [Audit Report](index=29&type=section&id=%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A) The company's 2014 semi-annual financial report has been audited by Tianjian Certified Public Accountants (Special General Partnership) and received a standard unqualified audit opinion Audit Report Information | Item | Content | | :--- | :--- | | Audit Opinion Type | Standard Unqualified Audit Opinion | | Auditor Name | Tianjian Certified Public Accountants (Special General Partnership) | | Audit Report Number | Tianjian Audit [2014] No. 5877 | [Financial Statements](index=29&type=section&id=%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section provides the company's consolidated and parent company financial statements for the first half of 2014, including the balance sheet, income statement, cash flow statement, and statement of changes in owners' equity, with data showing that the company's total assets steadily grew to **1.17 billion yuan**, but net profit experienced a year-on-year decline Key Items from Consolidated Balance Sheet (Unit: yuan) | Item | Period-end Balance | Period-start Balance | | :--- | :--- | :--- | | Total Assets | **1,172,248,007.89** | **1,121,646,487.74** | | Total Liabilities | **155,088,345.57** | **158,547,405.52** | | Total Equity Attributable to Parent Company Owners | **925,021,664.99** | **898,312,006.32** | Key Items from Consolidated Income Statement (Unit: yuan) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | Total Operating Revenue | **216,036,080.82** | **211,401,958.32** | | Operating Profit | **50,372,383.95** | **54,869,402.72** | | Net Profit | **46,693,980.10** | **50,345,314.70** | | Net Profit Attributable to Parent Company Owners | **46,152,086.96** | **49,534,634.64** | Key Items from Consolidated Cash Flow Statement (Unit: yuan) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | **16,338,837.97** | **14,873,359.92** | | Net Cash Flow from Investing Activities | **-103,357,768.23** | **-39,582,557.37** | | Net Cash Flow from Financing Activities | **8,500,000.00** | **12,750,000.00** | | Net Increase in Cash and Cash Equivalents | **-78,365,314.07** | **-12,635,949.62** | [Notes to Key Items in Consolidated Financial Statements](index=65&type=section&id=%E5%90%88%E5%B9%B6%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E4%B8%BB%E8%A6%81%E9%A1%B9%E7%9B%AE%E6%B3%A8%E9%87%8A) This section provides detailed explanations for key items in the consolidated financial statements, where operating revenue primarily stems from the automotive electronics business, dominated by domestic sales, with rectifiers and regulators as core products, the top five accounts receivable customers account for **43.71%**, financial expenses are negative mainly due to interest income, and investment income primarily originates from purchased wealth management products - Cash and cash equivalents at period-end totaled **345 million yuan**, of which **18.18 million yuan** was restricted due to pledges for bank acceptance bills[215](index=215&type=chunk) - The book balance of accounts receivable was **152 million yuan**, with the top five customers collectively accounting for **51.28%** of the total accounts receivable[229](index=229&type=chunk)[237](index=237&type=chunk) - Of the operating revenue, domestic sales accounted for **169 million yuan** and export sales for **47.13 million yuan**; by product, rectifier revenue was **113 million yuan** and regulator revenue was **86 million yuan**[356](index=356&type=chunk)[358](index=358&type=chunk) - Investment income of **3.02 million yuan** was entirely derived from the purchase of bank wealth management products[371](index=371&type=chunk)[388](index=388&type=chunk) [Supplementary Information](index=106&type=section&id=%E8%A1%A5%E5%85%85%E8%B5%84%E6%96%99) This section provides details on non-recurring gains and losses, calculations for Return on Equity (ROE) and Earnings Per Share (EPS), and explanations for abnormal changes in key financial statement items, where the weighted average ROE attributable to common shareholders was **5.04%**, basic EPS was **0.46 yuan**, and the **55.26%** increase in fixed assets was due to the capitalization of properties Non-recurring Gains and Losses for the Current Period (Unit: yuan) | Item | Amount | | :--- | :--- | | Government Grants | **3,538,800.00** | | Investment Income from Financial Assets at FVTPL | **3,015,711.21** | | Other Non-operating Income and Expenses | **340,386.44** | | **Total After Tax Impact** | **5,649,257.13** | Return on Net Assets and Earnings Per Share | Profit for the Period | Weighted Average Return on Net Assets | Basic Earnings Per Share (yuan) | | :--- | :--- | :--- | | Net Profit Attributable to Common Shareholders | **5.04%** | **0.46** | | After Deducting Non-recurring Gains and Losses | **4.43%** | **0.41** | - Significant changes in key financial data are explained, such as a **55.26%** increase in fixed assets due to property capitalization and a **71.10%** decrease in other non-current assets due to the capitalization of the Shanghai R&D Center office building[470](index=470&type=chunk) [Reference Documents](index=108&type=section&id=%E7%AC%AC%E5%85%AB%E8%8A%82%20%E5%A4%87%E6%9F%A5%E6%96%87%E4%BB%B6%E7%9B%AE%E5%BD%95) [Reference Documents](index=108&type=section&id=%E5%A4%87%E6%9F%A5%E6%96%87%E4%BB%B6) This section lists the available reference documents, including the semi-annual report text signed by the legal representative, financial statements signed and sealed by relevant persons in charge, the audit report text, and originals of all publicly disclosed documents and announcements during the reporting period - Reference documents include: * Signed 2014 Semi-Annual Report text * Financial statements signed and sealed * Audit report text * All publicly disclosed documents during the reporting period * Other relevant materials These documents are available at the company's Securities Investment Department[473](index=473&type=chunk)[474](index=474&type=chunk)

江苏云意电气股份有限公司 2014 年第一季度报告全文 江苏云意电气股份有限公司 2014 年第一季度报告 2014-026 2014 年 04 月 1 江苏云意电气股份有限公司 2014 年第一季度报告全文 第一节 重要提示 本公司董事会、监事会及其董事、监事、高级管理人员保证本报告所载资 料不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容的真实性、准 确性和完整性承担个别及连带责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人付红玲、主管会计工作负责人闫瑞及会计机构负责人(会计主管 人员)闫瑞声明：保证季度报告中财务报告的真实、完整。 2 江苏云意电气股份有限公司 2014 年第一季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否因会计政策变更及会计差错更正等追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | | | | （%） | | 营业总收入（元） | 100,801,941.76 | 111,693,900.95 | -9.75% | | 归 ...

江苏云意电气股份有限公司 2013 年度报告全文 江苏云意电气股份有限公司 2013 年度报告 2014-014 2014 年 03 月 1 江苏云意电气股份有限公司 2013 年度报告全文 第一节 重要提示、目录和释义 本公司董事会、监事会及董事、监事、高级管理人员保证本报告所载资料 不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确 性和完整性承担个别及连带责任。 所有董事均已出席了审议本报告的董事会会议。 公司负责人付红玲、主管会计工作负责人闫瑞及会计机构负责人(会计主管 人员)闫瑞声明：保证年度报告中财务报告的真实、准确、完整。 2 | 第一节 | 重要提示、目录和释义 2 | | --- | --- | | 第二节 | 公司基本情况简介 5 | | 第三节 | 会计数据和财务指标摘要 7 | | 第四节 | 董事会报告 11 | | 第五节 | 重要事项 32 | | 第六节 | 股份变动及股东情况 40 | | 第七节 | 董事、监事、高级管理人员和员工情况 45 | | 第八节 | 公司治理 51 | | 第九节 | 财务报告 55 | | 第十节 | 备查文件目录 135 | ...