证券代码：300580 证券简称：贝斯特 编号：2020-投 007 无锡贝斯特精机股份有限公司投资者关系活动记录表 | --- | --- | --- | |--------------|--------------------------|----------------------| | | | | | | 特定对象调研 □分析师会议 | | | | □媒体采访 □业绩说明会 | | | 投资者关系活 | □ | 新闻发布会 □路演活动 | | 动类别 | □现场参观 | | | | □ 其他 : | | | | 重阳投资 陈奋涛 | | | | 柏乔投资 王峰 | | | | 矩阵投资 霍衍桥 | | | | 星石投资 曹恩祥 | | | | 银华基金 陈晓雅 | | | 参与单位名称 | 融通基金 刘申奥 | | | 及人员姓名 | 融通基金 朱丹 | | | | 奇盛投资 付伟琦 | | | | 瀚伦投资 黄志青 | | | | 聚鸣投资 黄杨 | | | | 华创证券 张程航 | | | 时 间 | 2020-11-4 | 14:00-16:00 | | --- | --- | |------- ...

证券代码：300580 证券简称：贝斯特 无锡贝斯特精机股份有限公司投资者关系活动记录表 编号：2022-投 015 | --- | --- | --- | |---------------------------|------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------| | 投资者关系活 动类别 | □√特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □现场参观 □其他 : | | | 参与单位名称 以及人员姓名 | 中信建投 高庆勇 浙商证券 刘玮奇 | | | 时间 | 2022 年 12 月 1 日上午 | 10：30-12:00 | | 地 点 | 江苏省无锡市滨湖区胡埭工业园陆藕东路 公司三期厂区四楼会议室 | 186 ...

Financial Performance - The company's revenue for Q3 2022 reached ¥304,794,595.71, representing a 16.79% increase compared to the same period last year[4]. - Net profit attributable to shareholders was ¥73,564,296.45, up 41.58% year-on-year[4]. - The net profit after deducting non-recurring gains and losses was ¥59,965,735.26, an increase of 44.99% compared to the previous year[4]. - Total operating revenue for the third quarter reached ¥794,385,253.41, an increase of 2.3% compared to ¥776,801,572.32 in the previous year[28]. - Net profit for the period was ¥155,739,605.99, a decrease of 2.2% from ¥159,840,549.04 in the same quarter last year[32]. Assets and Liabilities - The total assets at the end of the reporting period were ¥3,147,076,043.87, reflecting a 5.88% increase from the end of the previous year[4]. - The company's total assets increased to ¥3,147,076,043.87, compared to ¥2,972,202,807.93, marking a growth of 5.9%[27]. - Total liabilities rose to ¥1,075,205,997.27, up from ¥1,019,969,450.85, indicating a 5.4% increase[27]. - The company's total equity attributable to shareholders increased by 6.04% to ¥2,062,267,909.90 compared to the end of the previous year[4]. - The equity attributable to shareholders of the parent company reached ¥2,062,267,909.90, compared to ¥1,944,819,511.77, reflecting a growth of 6.0%[27]. Cash Flow - The net cash flow from operating activities for the year-to-date was ¥185,975,841.29, up 46.69% compared to the same period last year[4]. - Cash inflow from operating activities totaled approximately ¥702.82 million, an increase from ¥633.01 million in the previous period, representing a growth of about 11%[35]. - Net cash flow from operating activities was approximately ¥185.98 million, up from ¥126.78 million, indicating a significant increase of about 47%[35]. - Cash inflow from investment activities was approximately ¥1.35 billion, down from ¥2.29 billion, reflecting a decrease of about 41%[38]. - The company reported a cash outflow from financing activities of approximately ¥36.00 million, compared to ¥50.00 million in the previous period, showing a reduction of about 28%[38]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 13,675[14]. - Wuxi Best Investment Co., Ltd. holds 56.37% of the shares, amounting to 112,743,600 shares[14]. - The company has a total of 10 major shareholders, with Wuxi Best Investment Co., Ltd. being the largest shareholder[14]. Expenses - The company experienced a 59.87% decrease in selling expenses, totaling ¥5,954,799.07, primarily due to reduced marketing costs[12]. - Research and development expenses for the quarter were ¥30,401,452.98, an increase from ¥28,011,683.40, showing a growth of 8.5%[28]. - The company reported a decrease in sales expenses to ¥5,954,799.07 from ¥14,837,015.43, a reduction of 59.9%[28]. Other Financial Metrics - The basic earnings per share for the period was ¥0.3678, a 41.57% increase year-on-year[4]. - Basic earnings per share decreased from ¥0.7926 to ¥0.7677, while diluted earnings per share increased slightly from ¥0.7189 to ¥0.7285[34]. - The company received approximately ¥13.55 million in tax refunds, an increase from ¥11.16 million, representing a growth of about 21%[35]. - The deferred income tax assets increased to ¥24,797,259.70 from ¥20,453,625.20, representing a growth of 21.4%[27].

Financial Performance - The company reported a total revenue of 500 million CNY for the first half of 2022, representing a year-on-year increase of 15%[26] - The net profit attributable to shareholders was 80 million CNY, up 20% compared to the same period last year[26] - The company's operating revenue for the reporting period was ¥489,590,657.70, a decrease of 5.09% compared to the same period last year[35] - Net profit attributable to shareholders was ¥79,987,018.15, reflecting a decline of 24.93% year-on-year[35] - The net profit after deducting non-recurring gains and losses was ¥67,885,006.59, down 25.21% from the previous year[35] - The net cash flow from operating activities increased by 83.50% to ¥123,314,110.10 compared to the same period last year[35] - The weighted average return on net assets decreased to 4.03%, down 1.68% from the previous year[35] - The company reported a total of ¥12,102,011.56 in non-recurring gains and losses for the reporting period[40] - The company reported a significant growth in revenue, achieving a year-on-year increase of 25% in the first half of 2022[152] - The gross margin improved to 35%, up from 30% in the previous year, reflecting enhanced operational efficiency[152] Market Expansion and Strategy - The company plans to invest 50 million CNY in R&D for new product development in the next fiscal year[26] - The company has set a revenue target of 1.2 billion CNY for the full year 2022, which would require a growth rate of 10% in the second half[26] - The company is expanding its market presence in Southeast Asia, with plans to establish a new office in Singapore by Q4 2022[26] - The company is exploring potential mergers and acquisitions to enhance its product offerings and market reach[26] - The company is focusing on expanding its international market presence, particularly in the new energy vehicle sector, which is becoming a highlight in exports[58] - The company has established strategic partnerships with three major automotive manufacturers to enhance its market presence[153] Research and Development - The company is focusing on the development of advanced turbocharger technologies to maintain its competitive edge in the industry[26] - The company is investing 50 million yuan in R&D for new technologies and products aimed at the smart equipment market[153] - Research and development investment increased by 15.23% to ¥20,942,814.30 from ¥18,174,045.90 in the previous year[83] - The company is focusing on the development of core components for hydrogen fuel cell vehicles, having established deep cooperation with various domestic and international quality enterprises[78] Automotive Industry Insights - The global automotive market saw a decline in sales, with China's market down by 6.60% and the U.S. market down by 17.80% in the first half of 2022[46] - In the first half of 2022, China's new energy vehicle sales reached 2,600,000 units, representing a year-on-year growth of 120.00% and capturing a market share of 21.60%[50] - The overall automotive production in China for the first half of 2022 was 12.117 million units, a decrease of 3.7% year-on-year, while sales totaled 12.057 million units, down 6.6%[50] - The production and sales of commercial vehicles saw significant declines, with production down 38.5% and sales down 41.2% year-on-year[51] - The company anticipates stable growth in the automotive market for the second half of 2022, driven by consumption promotion policies and a recovering consumer confidence[58] Financial Management and Investments - The company raised ¥530 million through convertible bonds to invest in the production of 7 million automotive components annually, including parts for new energy vehicles[44] - The company faced increased financial costs, with convertible bond interest totaling 7.70 million yuan in the first half of 2022, an increase of 5.48 million yuan compared to the same period in 2021[71] - The total investment amount for the reporting period was ¥103,864,956.68, a decrease of 18.71% compared to ¥127,777,094.46 in the same period last year[97] - The company has not changed the use of raised funds, with no changes in the total amount of committed investment projects[112] Environmental and Social Responsibility - Environmental compliance measures are in place, with a zero discharge policy for wastewater treatment[164] - The company has implemented advanced eco-design principles in its new factory, focusing on sustainability and energy efficiency[165] - The company was recognized as a "green enterprise" for the years 2017-2018 and a "blue enterprise" for 2019 by the Wuxi Ecological Environment Bureau[166] - The company has implemented various eco-friendly measures in its new factory, including a waste water treatment system and a rooftop solar power station, to support its "carbon neutrality" goals[169] - The company has been recognized as a national-level "green factory" by the Ministry of Industry and Information Technology[169] Risk Management - The company faces risks from the ongoing COVID-19 pandemic, which may impact operational efficiency and financial performance[140] - The company is exposed to risks from the international trade environment, particularly due to geopolitical tensions and the ongoing Russia-Ukraine conflict[141] - The automotive industry’s cyclical fluctuations and policy risks may affect the company’s revenue, particularly from turbochargers and engine components[142] - The company is implementing measures to mitigate risks from raw material price fluctuations and is enhancing supply chain management[144] - The company is monitoring exchange rate fluctuations, particularly the USD/RMB rate, to manage potential foreign exchange losses[148] Employee Welfare and Corporate Governance - The company emphasizes employee welfare, providing benefits such as health check-ups and holiday gifts to enhance employee satisfaction[172] - The company has maintained a stable financial policy, ensuring asset and fund safety while adhering to debt obligations[171] - The company reported no non-operating fund occupation by controlling shareholders or related parties during the reporting period[182] - There were no violations regarding external guarantees during the reporting period[183] - The semi-annual financial report was not audited[184]

COVID-19 Impact - The company reported a significant impact from the ongoing COVID-19 pandemic, which has affected operational efficiency and may influence future performance[7] Geopolitical and Trade Environment - The international trade environment remains uncertain due to geopolitical tensions, particularly the ongoing Russia-Ukraine conflict, which has negatively impacted the company's international business[8] Automotive Industry Trends - The automotive industry is experiencing cyclical fluctuations, with potential risks to orders and inventory levels due to macroeconomic conditions affecting key customers[12] - The company anticipates a 1%-5% annual price decline in automotive parts, which could adversely affect profitability if cost control does not keep pace[17] - The overall automotive market in China maintained its position as the largest globally, with production and sales figures leading for 13 consecutive years[67] - The automotive industry in China faced challenges such as chip shortages and high raw material prices but still managed to achieve steady growth[67] Strategic Initiatives - The company plans to enhance its competitiveness by focusing on technological innovation and expanding its domestic market presence to mitigate risks from international trade[11] - The company is actively pursuing strategic alliances in the new energy vehicle sector to capitalize on market opportunities and enhance long-term growth[13] - The company has extended its business into high-end aviation equipment manufacturing and industrial automation equipment, leveraging its advantages in intelligent equipment and tooling[94] - The company is actively exploring new business opportunities in emerging industries and high-tech fields, aiming for sustainable development[142] Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB, representing a year-over-year growth of 15%[25] - The company reported a net profit margin of 18%, which is an improvement from 15% in the previous year[25] - The company reported a net profit attributable to shareholders for 2021 was ¥196,703,457.41, an increase of 11.37% from ¥176,616,472.95 in 2020[45] - The company’s operating revenue for 2021 was ¥1,057,097,735.83, representing a 13.53% increase compared to ¥931,141,420.19 in 2020[45] Research and Development - Research and development expenses have increased by 12%, reflecting a commitment to innovation and technology advancement[25] - The company has developed a strong technological research and development team, effectively shortening the new product development cycle and improving responsiveness to customer needs[125] - The company invested approximately ¥46.25 million in R&D during the reporting period, with a total of 27 effective invention patents and 104 utility model patents authorized by the end of 2021[150] Supply Chain and Inventory Management - The company emphasizes the importance of maintaining a robust supply chain and effective cash flow management to navigate potential economic downturns[7] - Raw material price volatility poses a risk to profit margins, with the company implementing measures to manage procurement and inventory effectively[14] - The company’s operational model remains stable, with a focus on maintaining multiple suppliers for raw materials to ensure quality and cost control[102] Market Expansion - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[25] - The company has established long-term strategic partnerships with leading firms in the electric vehicle sector, including Tesla, to enhance its core component offerings[145] Production and Sales - The company produced 2,540,000 turbocharger systems, a 21.95% increase compared to 2,082,860 units in the previous year[115] - Domestic sales reached 1,725,980 units, a 14.20% increase from 1,511,380 units last year, while overseas sales were 993,610 units, a 5.27% increase from 943,840 units[118] - The total sales volume of automotive parts increased by 22.34% to 3,019.25 million units[157] Government Policies and Regulations - The Ministry of Industry and Information Technology has set a mandatory national standard for fuel consumption limits for passenger vehicles, effective from July 1, 2021, to enhance energy efficiency in the automotive sector[85] - The government has emphasized the need to enhance the resilience of the supply chain and promote technological innovation in the new energy vehicle sector as part of its economic strategy[86] Cash Flow and Investments - The net cash flow from operating activities decreased by 17.24% to ¥226,302,492.57 in 2021 from ¥273,429,799.33 in 2020[45] - Investment cash inflow surged by 116.48% to ¥2,883,207,587.86, mainly due to increased redemption of financial products[178] - The total investment amount for the reporting period was ¥224,678,385.41, representing a 63.89% increase compared to ¥137,094,349.75 in the previous year[188] Customer Relationships - The company has established long-term stable business relationships with major clients such as Garrett, Cummins, and BorgWarner, enhancing its customer resource advantage[121] - The company has been recognized as an "Excellent Supplier" by strategic clients, reflecting its commitment to quality and service[150]

COVID-19 Impact - The company reported a significant impact from the ongoing COVID-19 pandemic, which has affected operational efficiency and may influence future performance if not controlled effectively[7]. International Trade Risks - The company exports products to multiple countries, including the US and Europe, and faces risks from the changing international trade environment, particularly due to geopolitical tensions like the Russia-Ukraine conflict[8]. - The company is exposed to foreign exchange risks due to its export operations, primarily settled in USD, and is implementing strategies to mitigate potential losses from currency fluctuations[18]. Automotive Industry Trends - The automotive industry is experiencing cyclical fluctuations, which may lead to reduced orders and inventory buildup, particularly affecting the company's revenue from turbochargers and engine components[12]. - The automotive parts industry typically sees a 1%-5% annual price decline for new products, which could negatively impact the company's performance if cost control does not keep pace[17]. - The global automotive market saw sales of approximately 81.05 million units, an increase from 77.76 million units in 2020[65]. - In 2021, the global new energy passenger vehicle market saw a record growth of 108%, with a market size approaching 6.5 million units[141]. Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB, representing a year-over-year growth of 20%[25]. - The company's operating revenue for 2021 was ¥1,057,097,735.83, representing a 13.53% increase compared to ¥931,141,420.19 in 2020[45]. - The net profit attributable to shareholders for 2021 was ¥196,703,457.41, an increase of 11.37% from ¥176,616,472.95 in 2020[45]. - The gross profit margin improved to 35%, up from 30% in the previous year, due to better cost management and pricing strategies[25]. Market Expansion and Strategy - The company plans to enhance its competitiveness by focusing on technological innovation and expanding its domestic market presence to mitigate risks from international uncertainties[11]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[25]. - A strategic acquisition of a local competitor is expected to enhance production capabilities and increase market penetration by 15%[25]. - The company is exploring partnerships with international firms to enhance its technological capabilities and expand its product offerings[25]. Research and Development - Investment in R&D increased by 30%, focusing on the development of new turbocharger technologies and lightweight materials[25]. - Research and development expenses for the reporting period were ¥4,624.97 million, with a total of 27 effective invention patents and 104 utility model patents authorized by December 31, 2021[149]. - The number of R&D personnel increased to 174 in 2021, up 17.57% from 148 in 2020, representing 14.68% of the total workforce[177]. New Energy Vehicles (NEVs) - The production of new energy vehicles (NEVs) in China reached 3.545 million units, marking a significant year-on-year increase of 159.5%[77]. - The sales of NEVs in China totaled 3.521 million units in 2021, reflecting a year-on-year growth of 157.5%[77]. - The market share of NEVs in total vehicle sales rose from 5.4% in 2020 to 13.4% in 2021[75]. - The company aims to enhance its production capabilities in the new energy vehicle sector, particularly in lightweight components and intelligent manufacturing systems[94]. Operational Efficiency - The company has implemented new operational strategies aimed at improving efficiency, which are projected to reduce costs by 5%[25]. - The company is focused on enhancing operational management and information technology systems to improve efficiency and resource allocation[150]. - The production model is based on "sales-driven production," allowing for reduced inventory and faster capital turnover[105]. Supply Chain Management - The company maintains a stable supply chain by managing multiple suppliers for raw materials, ensuring procurement stability and cost control[103]. - The company's logistics strategy includes direct delivery to customers and the use of intermediate warehouses to enhance supply chain responsiveness[107]. Awards and Recognition - The company has been recognized as a "National Key New Product" and has received multiple awards, including the "First Prize of Jiangsu Province Science and Technology Award" and "Jiangsu Famous Brand Product" title[126]. - The company was awarded the title of "National Green Factory" by the Ministry of Industry and Information Technology in September 2019, reflecting its commitment to green manufacturing practices[127]. Financial Investments - The company raised 530 million yuan to invest in the annual production of 7 million automotive functional components and turbocharger parts, with a projected output of 1.4 million automotive functional components and 5.6 million turbocharger core components after completion[93]. - The company has committed a total investment of 60,000 million, with 19,012.31 million invested during the reporting period and a cumulative investment of 37,851.22 million[199].

Financial Performance - The company's operating revenue for Q1 2022 was ¥255,259,487.92, a decrease of 6.11% compared to ¥271,881,793.23 in Q1 2021[5] - Net profit attributable to shareholders was ¥37,754,748.22, down 37.25% from ¥60,163,697.35 in the same period last year[5] - The net profit after deducting non-recurring gains and losses was ¥29,461,738.69, a decline of 45.18% from ¥53,742,838.46 in Q1 2021[5] - Basic earnings per share for the period were CNY 0.1888, down from CNY 0.3008 in the previous period[38] - Net profit for the period was CNY 38,572,046.42, down 36.7% from CNY 61,034,166.93 in the previous period[35] Cash Flow - The net cash flow from operating activities increased significantly by 164.91%, reaching ¥27,767,580.78 compared to ¥10,481,946.49 in the previous year[5] - Operating cash inflow totaled ¥206,724,389.92, an increase from ¥172,790,179.24 in the previous period, representing a growth of approximately 19.6%[42] - Net cash flow from operating activities was ¥27,767,580.78, significantly up from ¥10,481,946.49 in the prior period, indicating a year-over-year increase of about 165.5%[42] - Cash outflow for purchasing goods and services was ¥97,268,464.36, compared to ¥83,809,400.32 in the previous period, reflecting an increase of approximately 15.9%[42] - Total cash outflow for operating activities was ¥178,956,809.14, compared to ¥162,308,232.75 in the previous period, marking an increase of about 10.3%[42] Assets and Liabilities - The company's total assets at the end of Q1 2022 were ¥2,987,561,945.82, a slight increase of 0.52% from ¥2,972,202,807.93 at the end of the previous year[5] - Total liabilities decreased to CNY 996,799,128.35 from CNY 1,019,969,450.85 in the previous period, reflecting a reduction of 2.3%[31] - The company's equity attributable to shareholders increased to CNY 1,982,531,673.96, up from CNY 1,944,819,511.77 in the previous period[31] - The total current assets amounted to ¥1,621,172,189.61, slightly down from ¥1,623,321,973.04 at the beginning of the year[25] Expenses - R&D expenses rose by 35.77% to ¥11,540,309.86, reflecting increased investment in technology and innovation, particularly in the new energy vehicle sector[13] - The company faced significant pressure from rising raw material prices and labor costs, impacting its main business costs[9] - The financial expenses surged by 9107.07% to ¥4,672,352.14, primarily due to increased interest on convertible bonds[13] - The company reported a decrease in sales expenses by 69.73% to ¥1,003,857.87, attributed to reduced marketing costs[13] - The company reported a significant increase in tax expenses, which rose to CNY 3,114,542.78 from CNY 2,199,948.79 in the previous period[31] Shareholder Information - The total number of common shareholders at the end of the reporting period was 12,029, with the top ten shareholders holding a significant portion of the shares[18] - Wuxi Best Investment Co., Ltd. holds 56.37% of the shares, amounting to 112,743,600 shares, making it the largest shareholder[18] Inventory and Receivables - Accounts receivable increased to ¥389,713,663.19 from ¥370,379,721.63, indicating a growth in sales[25] - Inventory at the end of the period was ¥245,998,402.63, compared to ¥224,456,855.62 at the beginning of the year, reflecting an increase in stock levels[25] Investment Activities - The net cash flow from investing activities decreased by 67.28% to ¥24,562,383.90 from ¥75,072,239.88, mainly due to a reduction in the redemption of financial products during the reporting period[17] - Cash inflow from investment activities was ¥515,106,826.13, down from ¥866,732,660.95 in the previous period, showing a decrease of about 40.5%[42]

Financial Performance - The company's revenue for Q3 2021 was ¥260,977,307.13, a decrease of 14.86% compared to the same period last year[3] - Net profit attributable to shareholders was ¥51,959,457.58, down 14.43% year-on-year[3] - The net profit excluding non-recurring gains and losses was ¥41,358,391.32, a decrease of 27.31% compared to the previous year[3] - Total operating revenue for the current period reached ¥776,801,572.32, an increase of 15.5% compared to ¥672,724,354.75 in the previous period[23] - Net profit for the current period was ¥159,840,549.04, representing a 28.9% increase from ¥124,081,753.74 in the previous period[27] - Earnings per share (EPS) for the current period was ¥0.7926, compared to ¥0.6180 in the previous period[30] Assets and Liabilities - Total assets increased by 7.66% to ¥2,896,571,321.60 compared to the end of the previous year[3] - The company's total liabilities reached RMB 959,438,526.52, up from RMB 862,920,397.53, reflecting an increase of approximately 11.16%[20] - The total equity of the company was RMB 1,937,132,795.08, showing an increase from RMB 1,827,484,323.18, which is a growth of about 6.00%[20] - The company's current assets totaled RMB 1,618,225,460.04, compared to RMB 1,527,025,129.17 in the previous year, indicating an increase of about 5.96%[17] Cash Flow - The company's cash flow from operating activities for the year-to-date was ¥126,781,039.12, an increase of 1.67%[3] - Cash flow from operating activities totaled ¥633,012,932.45, an increase from ¥504,847,023.12 in the previous period[31] - The net cash flow from operating activities was $126,781,039.12, slightly up from $124,697,899.64 in the previous period, indicating a growth of approximately 1.67%[34] - The total cash and cash equivalents at the end of the period reached $116,709,842.78, up from $8,811,029.65, marking a substantial increase[37] Financial Income and Expenses - The company reported a significant increase in financial income, with investment income rising by 68.30% to ¥9,877,922.26[9] - The company experienced a 47.81% increase in financial expenses, totaling ¥4,416,145.05, primarily due to accrued convertible bond interest[9] - The company reported a decrease in tax expenses to ¥22,318,508.76 from ¥17,484,591.13 in the previous period[27] - Other income increased to ¥16,417,870.73 from ¥8,937,208.39 in the previous period[23] Inventory and Accounts - The company's inventory increased by 48.11% to ¥231,747,489.73, attributed to increased procurement during the reporting period[6] - The accounts payable rose to RMB 189,025,477.11 from RMB 157,387,120.20, an increase of approximately 20.14%[20] - Accounts receivable decreased slightly to RMB 368,882,515.02 from RMB 386,689,719.88, a decline of about 4.00%[17] Investments and R&D - The company’s long-term equity investments increased to RMB 32,356,166.25 from RMB 30,586,099.83, reflecting a growth of about 5.79%[17] - Research and development expenses were ¥28,011,683.40, slightly down from ¥28,673,659.28 in the previous period[23] Cash Flow from Investment and Financing Activities - Cash inflow from investment activities totaled $2,286,693,832.16, significantly increasing from $991,978,148.75, representing a growth of about 130.0%[34] - The net cash flow from investment activities was $1,233,367.35, recovering from a negative cash flow of -$78,524,762.11 in the previous period[34] - The net cash flow from financing activities was -$50,000,185.75, a slight increase in outflow compared to -$48,170,208.21 previously[34] Other Financial Metrics - The weighted average return on equity was 2.72%, down 1.13% from the previous year[3] - The company reported a significant increase in financial assets at fair value through profit or loss, totaling RMB 665,989,183.67, down from RMB 733,085,740.58, a decrease of approximately 9.12%[17] - The cash paid to employees was $136,802,651.85, up from $99,545,819.47, indicating a growth of about 37.4%[34] - The cash paid for fixed assets and other long-term assets was $115,698,464.81, significantly up from $33,788,361.58, representing an increase of approximately 242.5%[34] - The company did not adjust the initial balance sheet items due to the new leasing standards, as its leasing business is short-term and has no impact on retained earnings[38]

Automotive Industry Focus - The company reported a significant focus on the automotive parts sector, which is closely tied to macroeconomic conditions, indicating potential risks from economic fluctuations [8]. - The company plans to actively engage in the new energy vehicle industry, forming strategic alliances with leading companies to enhance its market position and product offerings [11]. - The company has identified risks related to international trade environments, particularly due to geopolitical tensions, which may negatively impact its international business operations [12]. - The company is closely monitoring raw material price fluctuations, as significant changes could directly affect its profit margins and operational activities [13]. - The company anticipates a potential annual price decline of 1%-5% for automotive parts, which could adversely affect its profitability if cost control measures are not effectively implemented [16]. - The company emphasizes the importance of innovation and product development to maintain competitive pricing and improve profit margins [16]. - The company is committed to enhancing its supply chain management to mitigate risks associated with raw material procurement and pricing [13]. - The company aims to optimize its operational efficiency through process improvements and cost management strategies to counteract potential revenue declines [16]. - The company is preparing to adapt its strategies in response to ongoing global economic challenges, including the COVID-19 pandemic [7]. Financial Performance - The company's operating revenue for the reporting period was ¥515,824,265.19, representing a 40.87% increase compared to ¥366,179,608.01 in the same period last year [41]. - The net profit attributable to shareholders of the listed company was ¥106,556,942.32, a 69.45% increase from ¥62,884,860.97 in the previous year [41]. - The net profit after deducting non-recurring gains and losses was ¥90,765,700.37, up 64.49% from ¥55,178,491.79 year-on-year [41]. - The basic earnings per share increased to ¥0.5328, a rise of 69.47% compared to ¥0.3144 in the same period last year [41]. - The total assets at the end of the reporting period were ¥2,817,961,051.93, reflecting a 4.74% increase from ¥2,690,404,720.71 at the end of the previous year [41]. - The net assets attributable to shareholders of the listed company were ¥1,878,872,310.42, which is a 3.09% increase from ¥1,822,642,871.24 at the end of the previous year [41]. - The net cash flow from operating activities was ¥67,201,983.81, down 52.85% from ¥142,513,873.49 in the same period last year [41]. - The weighted average return on net assets was 5.71%, an increase of 1.64% compared to 4.07% in the previous year [41]. - The diluted earnings per share were ¥0.4814, which is a 53.12% increase from ¥0.3144 in the same period last year [41]. Investment and Expansion - The company’s investment in the new energy vehicle sector includes a convertible bond issuance that raised ¥530 million, aimed at producing 7 million automotive precision components annually [52]. - The company is actively pursuing overseas expansion and achieving global supply chain integration in the automotive parts sector [68]. - The company is focusing on lightweight products and automotive electronics as part of its strategy to expand into new fields [68]. - The company is exploring mergers and acquisitions as part of its strategic planning to enhance its market presence and capabilities in the automotive sector [160]. - The company is focusing on expanding its industrial chain and exploring new business opportunities in emerging industries and high-tech fields [83]. Environmental and Social Responsibility - The company has established a comprehensive environmental management system to ensure compliance with environmental laws and regulations [175]. - The company has implemented a wastewater treatment system capable of processing 15 tons of production wastewater daily, achieving "zero" discharge [175]. - The company was recognized as a "green enterprise" by the Wuxi Ecological Environment Bureau for the years 2017-2018 [176]. - The company emphasizes employee rights protection by adhering to labor laws and providing social insurance and housing fund contributions [179]. - The company has a robust financial policy, ensuring asset and fund safety, and maintains good communication with creditors to reduce operational and financial risks [178]. Strategic Partnerships and Alliances - The company has established long-term strategic partnerships with leading companies in the new energy vehicle sector, including Tesla, to enhance its competitive edge in core components [84]. - The company has also developed core components for hydrogen fuel cell vehicles, with clients including Bosch China and Garrett [85]. - The company continues to expand its business model into high-end aerospace manufacturing and automation systems, leveraging its advantages in intelligent equipment [52]. Challenges and Risks - The company is closely monitoring the global COVID-19 pandemic and has implemented measures to ensure supply chain security and maintain operational cash flow [152]. - The automotive industry is experiencing cyclical fluctuations, which may impact the company's order volume and inventory levels due to macroeconomic conditions [153]. - The international trade environment is becoming increasingly tense, affecting the company's export operations; the company is adapting by enhancing its production capabilities and expanding its domestic market [155]. - The company is actively managing raw material procurement to mitigate the impact of price fluctuations on its profitability [158]. Corporate Governance and Compliance - The company did not distribute cash dividends or bonus shares for the first half of 2021 [167]. - The company has not faced any environmental penalties or pollution incidents during the reporting period [176]. - The half-year financial report was not audited [196]. - There were no major litigation or arbitration matters during the reporting period [198]. - The company has not engaged in any external guarantees during the reporting period [195].

Financial Performance - The company reported a cash dividend of 2.5 RMB per 10 shares (including tax) based on a total of 200,000,000 shares, with no bonus shares issued [16]. - The company's operating revenue for 2020 was CNY 931,141,420.19, representing a 16.12% increase from CNY 801,857,188.08 in 2019 [35]. - The net profit attributable to shareholders for 2020 was CNY 176,616,472.95, a 5.24% increase compared to CNY 167,815,085.98 in 2019 [35]. - The net profit after deducting non-recurring gains and losses was CNY 161,089,138.25, up 4.78% from CNY 153,746,885.85 in 2019 [35]. - The net cash flow from operating activities increased by 55.09% to CNY 273,429,799.33 from CNY 176,299,713.25 in 2019 [35]. - The total assets at the end of 2020 were CNY 2,690,404,720.71, a 45.13% increase from CNY 1,853,775,725.45 at the end of 2019 [35]. - The net assets attributable to shareholders increased by 19.93% to CNY 1,822,642,871.24 from CNY 1,519,747,046.91 in 2019 [35]. - The basic earnings per share for 2020 was CNY 0.8831, reflecting a 5.24% increase from CNY 0.8391 in 2019 [35]. - The diluted earnings per share for 2020 was CNY 0.8771, up 4.53% from CNY 0.8391 in 2019 [35]. - The company reported a quarterly operating revenue of CNY 306,544,746.74 in Q3 2020, which was the highest among the four quarters [38]. - The net profit attributable to shareholders in Q4 2020 was CNY 53,010,950.11, showing strong performance in the last quarter [38]. - The company reported non-operating income of CNY 15,527,334.70 in 2020, an increase from CNY 14,068,200.13 in 2019, representing a growth of approximately 10.4% [45]. Market and Industry Trends - The automotive industry is experiencing cyclical fluctuations, which may affect the company's orders and inventory levels, particularly as the market shifts towards electric and smart vehicles [10]. - The global economic environment in 2020 was significantly impacted by the COVID-19 pandemic, leading to unprecedented challenges and a V-shaped recovery in the latter part of the year [56]. - The automotive market is expected to recover in 2021, with sales projected to exceed 26 million units, a year-on-year increase of 4% [60]. - The demand for turbochargers is anticipated to grow faster than the overall automotive production due to stricter fuel consumption regulations and increasing adoption in new vehicles [68]. - The automotive parts industry is experiencing a trend of globalization and resource allocation, with major manufacturers reducing in-house production rates [72]. - The automotive parts market in China is witnessing increased competition as global automotive parts giants accelerate their establishment of joint ventures or wholly-owned factories [74]. - The automotive parts industry is becoming increasingly important, with a growing number of companies achieving global competitiveness in niche markets [74]. - The shift towards modular supply and system integration is simplifying product development cycles and enhancing the role of parts suppliers [72]. - The automotive parts industry in China is still considered a weak link compared to developed countries, indicating significant future growth potential [74]. Strategic Initiatives - The company plans to focus on the new energy vehicle sector by forming strategic alliances with key players and enhancing its product offerings in lightweight structural components [10]. - The company aims to enhance its production and operational capabilities through technological, marketing, and management innovations to adapt to changing economic conditions [11]. - The company has established long-term stable business relationships with major automotive manufacturers, including Garrett, Cummins, and BorgWarner, enhancing its competitive advantage [96]. - The company has successfully passed audits from Bosch China and Tesla, obtaining supplier codes and preferred supplier status, which will support future revenue stability [97]. - The company has established an efficient R&D team, significantly shortening the product development cycle and ensuring timely delivery from order receipt to mass production [98]. - The company has developed advanced automation solutions, including an automated drilling and riveting system for aircraft, contributing to the industry's efficiency and quality improvements [111]. Government Policies and Regulations - The Chinese government aims to establish a comprehensive standard intelligent vehicle system by 2035, with significant technological innovations and regulatory frameworks expected by 2025 [79]. - The Ministry of Industry and Information Technology (MIIT) has proposed to extend the purchase subsidies for new energy vehicles for an additional two years, alongside tax exemptions [79]. - The government plans to promote over 1,000 fuel cell vehicles with an average operational mileage exceeding 30,000 kilometers during the demonstration period [82]. - The MIIT aims to establish a standard system for vehicle intelligent management, focusing on innovation and practical applications [79]. - The new "dual credit policy" will be implemented starting January 1, 2021, to promote the development of energy-saving and new energy vehicles through a market-based mechanism [85]. - The government encourages the recycling of old vehicle parts for remanufacturing, promoting sustainability in the automotive industry [85]. Research and Development - The company has established dedicated R&D teams for new technologies and products based on industry trends and customer needs [137]. - The company holds a total of 24 effective invention patents and 89 utility model patents as of December 31, 2020, with 7 invention patents and 7 utility model patents currently under application [124]. - The company is developing several new technologies, including a digital workshop and smart factory aimed at improving production efficiency [172]. - The company has developed an AI defect visual recognition sorting workstation, which addresses industry pain points by classifying and tracking surface defects of components [123]. Financial Management and Investments - The company raised CNY 530 million through the issuance of convertible bonds to expand its production capacity for new energy vehicle components, aiming for an annual output of 7 million parts [49]. - The company reported a significant increase in non-current assets, with a year-on-year growth of 36.74%, primarily due to an increase in prepaid engineering equipment payments [94]. - The company has fully utilized the CNY 7,000 million allocated for working capital, achieving a 100.00% investment progress [198]. - The total amount of unused raised funds is primarily held in specialized accounts and structured deposits, with CNY 1,083.77 million in a dedicated account and CNY 39,287.60 million in financial products [194]. - The company’s financial management strategy appears to be conservative, with no idle funds reported for over two years [194].