浙江美力科技股份有限公司 2017 年第三季度报告全文 浙江美力科技股份有限公司 2017 年第三季度报告 2017-059 2017 年 10 月 1 浙江美力科技股份有限公司 2017 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 公司所有董事均已出席了审议本次季报的董事会会议。 非经常性损益项目和金额 √ 适用 □ 不适用 单位：元 公司负责人章碧鸿、主管会计工作负责人费越及会计机构负责人(会计主管 人员)竺永东声明：保证季度报告中财务报表的真实、准确、完整。 2 浙江美力科技股份有限公司 2017 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 公司是否需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 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 776,086,117.87 | | 579,271,147.21 | 33.9 ...

Financial Performance - Total revenue for the first half of 2017 was CNY 185,830,403.51, representing a 16.36% increase compared to CNY 159,699,338.23 in the same period last year[24]. - Net profit attributable to shareholders was CNY 21,362,238.88, up 6.93% from CNY 19,977,529.13 year-on-year[24]. - Basic earnings per share decreased by 7.69% to CNY 0.12, compared to CNY 0.13 in the same period last year[24]. - The company's operating revenue for the first half of 2017 reached CNY 185.83 million, an increase of 16.36% compared to the same period last year, driven by significant growth in suspension system springs and other spring products, with some categories exceeding 40% growth[40]. - Net profit for the same period was CNY 21.09 million, reflecting a 6.53% increase year-on-year, primarily due to the rise in operating revenue, although profit growth was impacted by customer price reductions and rising raw material costs[40]. - The total comprehensive income for the period was ¥20,989,213.11, compared to ¥19,351,091.84 in the previous year, marking an increase of 8.5%[170]. Cash Flow and Assets - Net cash flow from operating activities decreased by 62.82% to CNY 9,852,026.90, down from CNY 26,499,974.33 in the previous year[24]. - The company reported a 193.75% increase in cash and cash equivalents compared to the beginning of the period, attributed to funds raised from issuing shares[34]. - Current assets increased by 51.51% compared to the beginning of the period, also due to funds raised from issuing shares[34]. - The net cash flow from operating activities was negative at CNY -4,017,973.10, compared to a positive CNY 26,499,974.33 last period[176]. - Total cash and cash equivalents at the end of the period reached CNY 132,630,868.40, up from CNY 31,466,883.04[177]. - Total assets increased to CNY 759,888,095.32 as of June 30, 2017, up from CNY 579,271,147.21 at the beginning of the year, representing a growth of approximately 31.1%[162]. Investments and R&D - Research and development investment increased by over 20% compared to the previous year, enhancing the reserve of R&D projects and maintaining a high proportion of new product revenue within the company's main business income[40]. - The company's R&D investment increased by 27.04% to ¥8,345,507.71 from ¥6,569,043.35 year-on-year[42]. - The company is investing 10 million CNY in R&D for new product development, focusing on innovative technology solutions[85]. Market Position and Strategy - The company emphasizes the importance of continuous technological innovation to maintain its competitive edge in the automotive spring sector[10]. - The company continues to focus on expanding its market presence and enhancing its product offerings through technological innovation and strategic partnerships[31]. - Meili Technology plans to expand its market presence by entering two new regions in the next fiscal year[86]. - The company is exploring potential mergers and acquisitions to enhance its product offerings and market share[84]. Shareholder and Capital Management - The company plans to not distribute cash dividends or issue bonus shares for the reporting period[12]. - The actual controller holds 42.60% of the shares, which poses a risk of potential conflicts of interest affecting minority shareholders[71]. - The company has committed to maintaining a dividend payout ratio of 30% of its net profit for the fiscal year 2017[86]. - The company has made commitments regarding share reduction, stating that any reduction within two years post-lock-up will not exceed 25% of the total shares held[80]. Risks and Compliance - The company faces risks related to management complexity and the need for high-quality management talent as it grows[9]. - The financial report indicates that the company is in normal compliance with its share lock-up commitments, which are set to expire on February 20, 2020, and February 20, 2018, for different stakeholders[79]. - The company has not reported any significant changes in the feasibility of the projects during the reporting period[59]. Operational Efficiency - The company has implemented new strategies to improve operational efficiency, aiming for a 10% reduction in costs by the end of 2017[85]. - The company has engaged in multiple property leases for production, office, and storage needs, but these do not constitute significant leases[116]. Subsidiaries and Structure - The company has three wholly-owned subsidiaries and one holding subsidiary, with no single subsidiary contributing over 10% to the company's net profit[69]. - The company has included four subsidiaries in its consolidated financial statements, indicating a broader operational scope[198].

Financial Performance - Total revenue for Q1 2017 was ¥96,770,678.35, representing a 17.41% increase compared to ¥82,419,340.70 in the same period last year[10] - Net profit attributable to shareholders was ¥11,997,318.21, up 3.66% from ¥11,573,710.97 year-on-year[10] - Basic earnings per share decreased by 5.88% to ¥0.160 from ¥0.170 in the same period last year[10] - Total operating revenue for Q1 2017 was CNY 96,770,678.35, an increase of 17.3% compared to CNY 82,419,340.70 in the same period last year[50] - Net profit attributable to shareholders for Q1 2017 was CNY 11,997,318.21, representing a 3.7% increase from CNY 11,573,710.97 in the previous year[52] - The company reported a gross profit margin of approximately 35.1% for Q1 2017, compared to 37.6% in the previous year[51] - Total comprehensive income for the first quarter was CNY 11,621,270.49, compared to CNY 12,970,431.59 in the previous period, indicating a decrease[56] Cash Flow - The net cash flow from operating activities was -¥572,360.05, a decrease of 105.46% compared to ¥10,482,471.80 in the previous year[10] - Cash inflow from operating activities totaled CNY 112,480,524.07, up from CNY 100,211,266.99, reflecting a growth of approximately 12.7%[58] - Cash outflow from operating activities was CNY 113,052,884.12, compared to CNY 89,728,795.19 in the previous period, representing an increase of about 26%[59] - The company reported a net increase in cash and cash equivalents of CNY 215,999,999.07, compared to a decrease of CNY 13,504,483.20 in the previous period[60] - The ending balance of cash and cash equivalents was CNY 264,413,581.02, up from CNY 22,893,944.14 at the end of the previous period[60] Assets and Liabilities - Total assets increased by 42.22% to ¥823,866,484.53 from ¥579,271,147.21 at the end of the previous year[10] - Total current assets reached 538,737,215.46 CNY, up from 306,134,683.23 CNY at the start of the year, indicating a growth of approximately 76%[42] - The company's equity attributable to shareholders reached 658,205,017.05 CNY, up from 424,162,734.11 CNY, indicating a growth of approximately 55%[45] - Total liabilities amounted to 168,161,590.08 CNY, compared to 157,389,631.67 CNY at the beginning of the period, showing a rise of about 6%[44] Investment and Financing - As of March 20, 2017, the company had utilized ¥12,452.17 million of the raised funds, accounting for 56.07% of the committed investment amount[15] - The company raised a total of ¥26,776.89 million from the public offering of 22.37 million shares at a price of ¥11.97 per share, with a net amount of ¥22,207.37 million after deducting issuance costs[30] - The company has not changed the use of raised funds, with a total of ¥22,207.3 million allocated to investment projects[34] - Total cash outflow for investment activities was CNY 146,867,035.43, compared to CNY 3,412,323.34 in the previous period, indicating a significant increase[63] Operational Strategies - The company is focusing on expanding its market presence in sectors beyond the automotive industry, including transportation equipment and household appliances[14] - The company has implemented lean production measures to mitigate the impact of rising costs and customer price reductions[12] - The company’s sales team intensified efforts to explore new customers and markets, contributing to the growth in sales of various products[25] - The company has established strategic partnerships with major clients, enhancing collaboration on new projects and products, which positively impacted revenue growth[25] Risks and Governance - The actual controller holds 42.5986% of the shares, which poses a risk of potential conflicts of interest affecting minority shareholders[13] - There are no overdue commitments from the actual controller, shareholders, or related parties during the reporting period[32] - The company reported no non-operating fund occupation by controlling shareholders or related parties during the reporting period[38] - The company has not reported any significant risks or difficulties affecting future operations[29]

Financial Performance - The company achieved a certain degree of growth in its operating performance in 2016, benefiting from the rapid development of the general parts and automotive parts industries, national industrial policy support, and steady improvement in comprehensive competitiveness [5]. - The company's operating revenue for 2016 was CNY 359,232,453.06, representing a 20.67% increase compared to CNY 297,706,057.35 in 2015 [19]. - The net profit attributable to shareholders for 2016 was CNY 55,351,282.89, up 15.62% from CNY 47,873,214.50 in 2015 [19]. - The net cash flow from operating activities increased by 36.78% to CNY 72,042,909.87 in 2016, compared to CNY 52,671,305.37 in 2015 [19]. - The total assets at the end of 2016 reached CNY 579,271,147.21, a 25.80% increase from CNY 460,452,842.48 at the end of 2015 [19]. - The total equity attributable to shareholders at the end of 2016 was CNY 424,162,734.11, an increase of 14.89% from CNY 369,174,676.49 at the end of 2015 [19]. - The net profit after deducting non-recurring gains and losses for 2016 was CNY 54,228,294.00, a 16.42% increase from CNY 46,580,110.84 in 2015 [19]. - The company reported a basic earnings per share of CNY 0.82 for 2016, reflecting a 10.81% increase from CNY 0.74 in 2015 [19]. Shareholder Information - The actual controller, Mr. Zhang Bihong, controlled 56.7991% of the shares before the IPO, and after the IPO, his shareholding ratio remained high at 42.5986% [6]. - The profit distribution plan approved by the board of directors proposes a cash dividend of 2.5 RMB per 10 shares (including tax) and a capital reserve transfer of 10 shares for every 10 shares held [9]. - The company has a registered capital of 89,475,275 RMB, which serves as the basis for its profit distribution plan [9]. - The cash dividend distribution plan for 2016 is set at ¥2.50 per 10 shares (including tax), with no bonus shares issued [99]. - The total cash dividend amount for the year is ¥22,368,818.75, representing 100% of the profit distribution [98]. - The company has committed to maintaining a minimum cash dividend ratio of 20% during significant capital expenditure phases [98]. - The company has not distributed ordinary share dividends in the past three years, nor has it implemented capital reserve increases during this period [99]. Risk Factors - The company faces risks related to significant fluctuations in operating performance due to macroeconomic cycles, intense industry competition, and raw material price volatility [5]. - The company has established a mature management system and organizational operation model after over ten years of rapid development, but faces management risks due to increased complexity following the IPO and project implementation [8]. - The company has implemented a series of rules to enhance corporate governance and mitigate risks associated with the actual controller's influence on business decisions [6]. Technological Innovation - The company emphasizes the importance of technological innovation and has been developing new technologies, materials, and processes to maintain its leading position in the automotive spring sector [9]. - The company is committed to continuous technological innovation to avoid being eliminated from the market and to ensure sustained growth in market share and operating performance [9]. - The company has developed new materials technology (ML1900) that significantly enhances the lightweight capabilities of automotive springs, contributing to overall vehicle weight reduction [34]. - The company has established a provincial-level research institute and a provincial-level technology center, enhancing its innovation profile [47]. - The company is focused on R&D of new products and technologies, implementing a strategy of "stabilizing one generation, storing one generation, and developing one generation" to increase the proportion of new products in sales revenue [53]. Market Position - The company has maintained its focus on high-end spring products, with core products including suspension system springs and power system springs, which have a leading advantage in the automotive parts market [27]. - The automotive spring market is growing, with the company capturing an increasing market share due to rising demand from high-quality customers [36]. - The company's market share for suspension springs increased to 4.46% in 2016 from 3.95% in 2015, with sales of 435.98 million units [43]. - The domestic passenger car production reached 2,442.07 million units in 2016, up from 2,107.94 million units in 2015, indicating a growing market for automotive components [43]. - The company has established strategic partnerships with major automotive parts manufacturers, enhancing customer loyalty and market presence [50]. Production and Operations - The company adopts a dual procurement model, focusing on long-term contracts with qualified suppliers to ensure priority supply rights for raw materials [31]. - The production model is customer-driven, utilizing a "sales-driven production" approach, with monthly production plans based on customer orders and inventory levels [32]. - The company has established a qualified supplier management system to optimize procurement costs and quality, ensuring effective control over procurement processes [30]. - The company actively invests in international leading production equipment to enhance production processes and capacity, optimizing product structure [36]. - The company has implemented lean production and management practices to improve internal efficiency and reduce waste [53]. Employee and Management Structure - The company employed a total of 639 staff, including 486 in the parent company and 153 in major subsidiaries [170]. - The professional composition of employees includes 431 production personnel, 57 sales personnel, 52 technical personnel, 12 financial personnel, and 87 administrative personnel [170]. - The company has a structured management team with defined roles, ensuring effective oversight and strategic direction [163][164]. - The total remuneration for directors, supervisors, and senior management in 2016 amounted to RMB 2.0551 million [167]. - The company has no stock incentive plans for directors and senior management during the reporting period [169]. Governance and Compliance - The company maintains complete independence from its controlling shareholder in terms of business, personnel, assets, organization, and finance [179]. - The company has established a comprehensive governance structure, ensuring independent operation and management without interference from shareholders [181]. - The audit committee held 3 meetings to review significant financial documents, including the 2015 annual profit distribution plan [187]. - The company did not identify any major internal control deficiencies during the reporting period [191]. - The audit opinion type is a standard unqualified opinion [198]. Future Plans and Strategies - The company plans to enhance its technological innovation capabilities and strengthen R&D collaboration with major manufacturers [89]. - The company aims to upgrade mature processes to improve product quality and cost competitiveness [90]. - The company intends to expand sales channels and increase market share in both domestic and international markets [90]. - The company will actively pursue international market opportunities to increase export share and mitigate operational risks associated with single markets [91]. - The company has plans for mergers and acquisitions to enhance production scale and market share [91].