万通智控科技股份有限公司 2021 年年度报告 万通智控科技股份有限公司 2021 年年度报告 2022-020 2022 年 4 月 1 万通智控科技股份有限公司 2021 年年度报告 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真实、 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。 公司负责人张健儿、主管会计工作负责人胡芬华及会计机构负责人(会计主 管人员)胡芬华声明：保证本年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 公司存在宏观经济波动风险、新冠疫情对经营的风险、汇率波动、原材料价 格波动、并购商誉减值风险、客户集中等风险，详细内容见本报告"第三节十一、 （五）可能面对的风险"，敬请广大投资者注意投资风险。 公司经本次董事会审议通过的利润分配预案为：以 230,000,000 为基数，向 全体股东每 10 股派发现金红利 0.88 元（含税），送红股 0 股（含税），以资本公 积金向全体股东每 10 股转增 0 股。 2 | 第一节 重要提示、目录和释义 2 | | --- | | ...

1. 董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重大 遗漏，并承担个别和连带的法律责任。 2. 公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、完 整。 万通智控科技股份有限公司 2022 年第一季度报告全文 证券代码：300643 证券简称：万通智控 公告编号：2022-037 万通智控科技股份有限公司 2022 年第一季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 重要内容提示: 3.第一季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (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 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 267,637,989.35 | 232,459,836.99 | 15.13% | | 归属于上市公司股东的净利润（元） | 33,134,762.19 | 22,6 ...

Financial Performance - The company's revenue for Q3 2021 reached ¥273,987,656.81, representing a 38.04% increase year-over-year[3] - Net profit attributable to shareholders was ¥30,248,068.37, a significant increase of 238.27% compared to the same period last year[3] - The basic earnings per share (EPS) was ¥0.14, reflecting a 250.00% increase year-over-year[3] - Total operating revenue for Q3 2021 reached CNY 777,171,376.69, an increase of 38.5% compared to CNY 561,098,127.97 in the same period last year[23] - Net profit for Q3 2021 was CNY 80,211,944.13, representing a significant increase of 307.5% from CNY 19,678,497.07 in Q3 2020[25] - The total comprehensive income attributable to the parent company was CNY 72,778,643.74, compared to CNY 13,720,479.37 in the previous period, representing a significant increase[26] - Basic and diluted earnings per share both reached CNY 0.39, up from CNY 0.09 in the same period last year, indicating strong earnings growth[26] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥1,277,513,392.88, up 36.89% from the end of the previous year[3] - The company's total liabilities were CNY 477,155,430.55, slightly decreased from CNY 477,243,092.53 in the previous year[22] - The total assets as of Q3 2021 amounted to CNY 1,277,513,392.88, up from CNY 933,215,133.97 year-over-year, indicating a growth of 37.0%[23] - The total liabilities amounted to CNY 290,582,927.61, indicating a manageable level of debt relative to assets[31] - Total liabilities amounted to CNY 477,243,092.53, with non-current liabilities totaling CNY 186,660,164.92[32] Shareholder Information - The total number of common shareholders at the end of the reporting period is 17,302[11] - The largest shareholder, Hangzhou Wantong Zhikong Holdings Co., Ltd., holds 43.69% of shares, totaling 100,495,279 shares[11] - The company completed a private placement of 30,000,000 shares at a price of RMB 9.92 per share, raising a total of RMB 297,600,000[16] Cash Flow and Financing - Operating cash flow for the year-to-date was ¥71,976,865.17, showing a 38.59% increase[3] - The net cash flow from financing activities surged by 554.63% to ¥226,535,012.65 due to the completion of the private placement[9] - Cash inflow from operating activities totaled CNY 713,622,040.56, an increase of 26% from CNY 566,151,057.40 in the previous year[27] - Cash flow from financing activities generated a net inflow of CNY 226,535,012.65, compared to a net outflow of CNY 49,828,544.85 in the previous period, showing improved financing conditions[28] Research and Development - The company reported a significant increase in R&D expenses, which rose by 30.65% to ¥28,438,506.28, indicating a focus on innovation[9] - Research and development expenses for Q3 2021 were CNY 28,438,506.28, an increase of 30.5% compared to CNY 21,767,601.27 in Q3 2020[25] Cash and Equivalents - As of September 30, 2021, the company's cash and cash equivalents amounted to RMB 189,516,623.64, an increase from RMB 85,046,685.09 at the end of 2020[20] - The total cash and cash equivalents at the end of the period amounted to CNY 187,196,535.54, up from CNY 81,760,621.91 at the end of the previous year[28] Inventory and Accounts Receivable - The inventory increased to CNY 168,350,804.75, up 25.0% from CNY 134,623,431.45 in the same quarter last year[21] - The accounts receivable increased to RMB 200,242,074.34 from RMB 164,488,226.72 year-over-year[20] Fund Utilization - The company has not utilized RMB 22,182.4 million of the raised funds, which accounts for 76.60% of the total funds raised after deducting issuance costs[18] - The company has incurred interest income of RMB 61.24 million from the raised funds[18] - The company plans to use up to RMB 150 million of temporarily idle raised funds for cash management[17] Restricted Shares - The number of restricted shares held by Hangzhou Financial Investment Group is 15,120,967, which will be released on January 15, 2022[14] - The company has a total of 30 million restricted shares that will be released on January 15, 2022[15] Audit Status - The company has not undergone an audit for the third quarter report, which may affect the reliability of the financial data presented[33]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 503,183,719.88, representing a 38.76% increase compared to CNY 362,617,254.26 in the same period last year[19]. - The net profit attributable to shareholders for the first half of 2021 reached CNY 49,559,782.94, a significant increase of 396.61% from CNY 9,979,685.42 in the previous year[19]. - The net profit after deducting non-recurring gains and losses was CNY 49,217,880.32, which is an increase of 815.15% compared to CNY 5,378,131.67 in the same period last year[19]. - The basic earnings per share for the first half of 2021 was CNY 0.25, up 400.00% from CNY 0.05 in the previous year[19]. - The total revenue for the first half of 2021 was reported at 22,268.62 million CNY, reflecting a significant increase compared to the previous period[164]. - The company reported a net profit of -18,000.00 million CNY, indicating a loss during this period[165]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 961,292,401.29, reflecting a 3.01% increase from CNY 933,215,133.97 at the end of the previous year[19]. - Current liabilities totaled CNY 305,778,818.18, up from CNY 290,582,927.61, indicating an increase of about 5.1%[137]. - Non-current liabilities decreased to CNY 169,845,613.69 from CNY 186,660,164.92, showing a reduction of approximately 9.0%[137]. - The total liabilities decreased slightly to CNY 475,624,431.87 from CNY 477,243,092.53, a decrease of about 0.3%[137]. Cash Flow - The net cash flow from operating activities was CNY 35,063,778.36, showing a decrease of 13.23% compared to CNY 40,409,597.06 in the same period last year[19]. - The net cash flow from investing activities decreased by 41.49% to ¥8,356,502.73 from ¥14,281,617.29, primarily due to reduced financial investments and lower payments for fixed assets[50]. - The net cash flow from financing activities was negative at ¥-50,084,527.06, a 22.91% increase in outflow compared to ¥-40,747,856.54, mainly due to increased dividend distributions[50]. Research and Development - Research and development expenses rose to ¥17,998,767.60, a 22.15% increase from ¥14,735,217.00, attributed to higher salaries for R&D personnel and increased direct investment in R&D[50]. - The company holds 134 patents, including 109 invention patents, indicating strong R&D capabilities and a focus on innovation[37]. - Investment in R&D for new technologies increased by 25%, totaling 200 million CNY, focusing on enhancing product features and user experience[88]. Market Position and Strategy - The company has established long-term stable partnerships with major OEMs such as SAIC Group and BAIC New Energy, and collaborates with 31 Inc., Tyresure, and others in the AM market[26]. - The company has a strong market presence in both OEM and AM markets, with a structured approach to supplier qualification and customer engagement[36]. - The company plans to enhance its market presence in China, leveraging its acquired company's resources to boost sales and mitigate goodwill impairment risks[69]. Risk Management - The company acknowledges various risks including market fluctuations, operational risks, and impacts from the COVID-19 pandemic[4]. - The company faces risks from macroeconomic fluctuations and the competitive landscape in the automotive parts industry, which could impact product quality and profitability[66]. - The ongoing COVID-19 pandemic has affected global logistics and order fulfillment, creating uncertainty in the company's operations[67]. Corporate Governance and Shareholder Relations - The company has a commitment to protect shareholder rights and enhance investor communication through various channels[81]. - The company has not declared any cash dividends or stock bonuses for the reporting period, focusing on reinvestment[76]. - The controlling shareholder is committed to increasing their stake in the company, with a minimum investment of 20% of the cash dividends received since the company's IPO[90]. Sustainability and Social Responsibility - A commitment to sustainability initiatives was reiterated, with plans to reduce carbon emissions by 20% by 2025[88]. - The company actively participates in social responsibility initiatives, including supporting local communities and environmental protection efforts[82]. - The company has established a volunteer team to engage in community service and environmental protection activities[82]. Financial Reporting and Compliance - The financial report for the first half of 2021 was not audited[133]. - The financial statements are prepared on a going concern basis, with no significant doubts regarding the company's ability to continue operations for the next 12 months[173]. - The company has implemented a robust internal control system to ensure compliance with relevant laws and regulations[81].

Financial Performance - The company's operating revenue for Q1 2021 was ¥232,459,836.99, representing an increase of 18.04% compared to ¥196,925,058.34 in the same period last year[8]. - Net profit attributable to shareholders for Q1 2021 reached ¥22,673,206.82, a significant increase of 330.46% from ¥5,267,170.21 in the previous year[8]. - The net profit after deducting non-recurring gains and losses was ¥22,909,975.01, up 472.63% from ¥4,000,818.49 year-on-year[8]. - Basic earnings per share for Q1 2021 were ¥0.11, a rise of 266.67% from ¥0.03 in the previous year[8]. - The company achieved revenue of 232.46 million yuan, an increase of 18.04% compared to the same period last year[18]. - Net profit attributable to shareholders was 22.67 million yuan, a significant increase of 330.46% year-on-year[18]. - Net profit for Q1 2021 was CNY 23,508,891.04, significantly higher than CNY 5,488,064.87 in the same period last year, representing a growth of approximately 328%[40]. - The company's total comprehensive income for the first quarter was 5,415,166.64 CNY, compared to 433,421.26 CNY in the same period last year[45]. Cash Flow - The net cash flow from operating activities was ¥20,506,486.45, an increase of 69.83% compared to ¥12,074,975.55 in the same period last year[8]. - Cash flow from operating activities generated a net amount of 20,506,486.45 CNY, up from 12,074,975.55 CNY year-over-year[48]. - Cash flow from investing activities showed a net inflow of 22.07 million yuan, a turnaround from a net outflow of 22.05 million yuan in the previous year[17]. - The net cash flow from investment activities was 16,821,754.27 CNY, compared to a negative cash flow of 31,663,315.14 CNY in the previous year[52]. - The company incurred total cash outflows from operating activities of 214,740,528.46 CNY, compared to 194,020,715.09 CNY in the same period last year[48]. Assets and Liabilities - Total assets at the end of the reporting period were ¥952,013,705.92, reflecting a growth of 2.01% from ¥933,215,133.97 at the end of the previous year[8]. - The company's total equity attributable to shareholders increased to CNY 477,801,158.00 from CNY 456,883,100.91, marking a growth of about 4.8%[33]. - Total current liabilities amounted to CNY 301,440,834.87, up from CNY 290,582,927.61, reflecting an increase of approximately 3%[32]. - The total liabilities decreased slightly to CNY 474,027,720.79 from CNY 477,243,092.53, indicating a reduction of approximately 0.5%[32]. - The total liabilities reached 477,243,092.53 CNY, reflecting an increase of 3,147,992.44 CNY from the previous year[56]. Shareholder Information - The company reported a total of 18,042 common shareholders at the end of the reporting period[12]. - The largest shareholder, Hangzhou Wantong Intelligent Control Holdings Co., Ltd., held 50.25% of the shares, amounting to 100,495,279 shares[12]. Strategic Focus - The company is actively monitoring macroeconomic conditions and adjusting strategies to mitigate risks from economic fluctuations and the ongoing pandemic[19][20]. - The company plans to enhance its market competitiveness by adjusting sales strategies and innovating product processes in response to raw material price volatility[20]. - The company is focused on integrating acquired businesses to maximize synergies and minimize goodwill impairment risks[21]. Research and Development - Research and development expenses rose to CNY 9,046,314.61, compared to CNY 7,548,621.27 in the previous year, reflecting a focus on innovation[39].

Financial Performance - The company's operating revenue for 2020 was ¥788,647,583.82, representing a 71.90% increase compared to ¥458,793,594.72 in 2019[18]. - The net profit attributable to shareholders for 2020 was ¥36,359,559.50, an increase of 83.30% from ¥19,835,829.89 in the previous year[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥21,070,334.71, up 58.13% from ¥13,324,564.39 in 2019[18]. - The net cash flow from operating activities for 2020 was ¥119,943,599.16, a 77.16% increase from ¥67,702,398.83 in 2019[18]. - The total assets at the end of 2020 were ¥933,215,133.97, a 2.88% increase from ¥907,077,960.02 at the end of 2019[18]. - The net assets attributable to shareholders at the end of 2020 were ¥456,883,100.91, reflecting a 6.05% increase from ¥430,832,498.16 at the end of 2019[18]. - The basic earnings per share for 2020 were ¥0.18, an 80.00% increase from ¥0.10 in 2019[18]. - The diluted earnings per share for 2020 were also ¥0.18, marking an 80.00% increase from ¥0.10 in the previous year[18]. - The weighted average return on equity for 2020 was 8.20%, up from 4.66% in 2019[18]. - Operating profit reached 46.07 million yuan, with a significant increase of 111.99% compared to the previous year[60]. - The company reported a total of ¥15,289,224.79 in non-recurring gains and losses for 2020, significantly higher than the previous years[24]. Market Position and Products - The company has established long-term partnerships with major automotive manufacturers, including SAIC Group and BAIC New Energy, enhancing its market position[27]. - The company acquired 100% equity of WMHG in 2019, expanding its product offerings to include decoupling components and exhaust system assemblies[28]. - The main products include Tire Pressure Monitoring Systems (TPMS) and commercial vehicle decoupling systems, which are critical for vehicle safety and performance[29]. - The company is a leading supplier of complex components and decoupling elements for commercial vehicles, serving clients like Volvo and Scania[28]. - The TPMS products utilize high-sensitivity sensors to monitor tire pressure and temperature, providing real-time data to enhance driving safety[29]. - The company is actively involved in the development of IoT systems for commercial vehicles, aiming to provide comprehensive fleet management solutions[33]. - The TPMS (Tire Pressure Monitoring System) became mandatory for all new passenger vehicles in China starting January 1, 2020, which is expected to significantly boost market demand[37]. - The commercial vehicle IoT market in China is projected to grow at a compound annual growth rate (CAGR) of 28%, reaching a market size of 80.6 billion CNY by 2025[39]. - The company holds 130 patents, including 109 invention patents, demonstrating its strong focus on research and development[40]. - The company has established long-term supply relationships with major domestic and international manufacturers, enhancing its market position[41]. Investments and Expansion - The company has made significant investments in its Thailand project, impacting its construction in progress[42]. - The acquisition of WMHG has expanded the company's global footprint and enhanced its competitive edge through resource integration[44]. - The company plans to raise up to 30,963.23 million CNY through a private placement of A-shares to invest in vehicle networking sensors and intelligent vehicle communication systems[63]. - The company has completed the first phase of its production base in Thailand, which will enhance its supply capabilities in Southeast Asia and expand its sales scale[62]. - The company is actively responding to the national "Belt and Road" strategy, enhancing its international strategic layout to capture growth opportunities in the automotive parts market[62]. Research and Development - The company has established a research institute with over 50 technical personnel focusing on the development of programmable sensors and vehicle networking systems[1]. - The company has strengthened its R&D team and made breakthroughs in new products, including dual-frequency programmable TPMS sensors and commercial vehicle IoT systems[63]. - R&D expenses amounted to ¥34.44 million, representing a 64.49% increase year-on-year, accounting for 4.37% of total revenue[98]. - The company aims to transform into an international and intelligent multinational enterprise within three years, focusing on digital and intelligent product directions[119]. - The long-term goal is to lead in technology and market share, expanding the product chain into automotive electronics, vehicle information control systems, and various vehicle application sensors[121]. Shareholder and Dividend Information - The company plans to distribute a cash dividend of ¥0.9 per 10 shares, based on a total of 200,000,000 shares[4]. - The company declared a cash dividend of 0.90 yuan per 10 shares, totaling 18,000,000 yuan for the year, which represents 49.51% of the net profit attributable to ordinary shareholders[137]. - The total distributable profit for the year was 108,952,731.18 yuan, with the cash dividend amounting to 16.52% of the total profit distribution[136]. - Over the past three years, the cash dividend distribution has been 49.51% in 2020, 40.33% in 2019, and 36.95% in 2018, indicating a consistent increase in the payout ratio[137]. - The company has maintained compliance with its cash dividend policy and shareholder rights throughout the reporting period[136]. Operational Challenges and Risks - The company faces risks from macroeconomic fluctuations, COVID-19 impacts, and raw material price volatility, which could affect operational performance[126][127][128]. - The production capacity utilization rate remains low, impacting the expected scale of production and sales[116]. - The project to produce 1 million sets of Tire Pressure Monitoring Systems (TPMS) and related components has not met expected benefits due to macroeconomic factors and trade tensions affecting sales, particularly in the U.S. market[112]. Corporate Governance and Management - The company has a management team consisting of 5 senior executives, including the General Manager and the Secretary of the Board[200]. - The company has a structured governance model with a supervisory board to oversee management activities[200]. - The company emphasizes the importance of shareholder communication, especially with minority shareholders, regarding profit distribution proposals[144]. - The board of directors will propose profit distribution plans based on profitability, funding needs, and industry characteristics[144]. - The company has a stable shareholding structure with no changes reported in the current period[191]. Compliance and Legal Matters - The company has no significant litigation or arbitration matters during the reporting period, with a specific case involving a contract dispute amounting to 4,500,000 RMB, which was dismissed by the court[150]. - The company has not experienced any bankruptcy reorganization or significant penalties during the reporting period[149][151]. - The company has engaged China International Capital Corporation as a sponsor for a specific stock issuance[148]. Social Responsibility - The company has actively participated in social responsibility initiatives, including pandemic response measures and community support since 2018[168].

Financial Performance - Operating revenue for the reporting period was ¥198,480,873.71, representing a year-on-year increase of 121.31%[8] - Net profit attributable to shareholders was ¥8,941,900.66, an increase of 16.43% compared to the same period last year[8] - Net profit attributable to shareholders after deducting non-recurring gains and losses was ¥7,086,119.27, a decrease of 7.88% year-on-year[8] - Basic earnings per share were ¥0.04, an increase of 33.33% year-on-year[8] - The weighted average return on net assets was 2.03%, an increase of 0.23% compared to the previous year[8] - The company reported a total profit of ¥25,163,623.65, compared to ¥21,858,562.41 in the previous period, marking an increase of approximately 15.5%[45] - Operating profit for the current period was ¥24,782,441.12, compared to ¥21,772,088.10 in the previous period, representing an increase of approximately 13.1%[45] - Net profit for the third quarter reached CNY 9,574,796.79, up from CNY 8,047,445.19, indicating a growth of about 19% year-over-year[37] Assets and Liabilities - Total assets at the end of the reporting period were ¥881,770,049.29, a decrease of 2.79% compared to the previous year[8] - The total liabilities decreased to CNY 445,678,782.57 from CNY 477,413,142.82 year-over-year[29] - The company reported a significant decrease in short-term borrowings, down 98.33% to ¥500,562.50 from ¥29,928,083.33, due to repayment of loans[16] - The company’s total liabilities increased, with current liabilities rising by 72.37% to ¥41,684,879.59 from ¥24,183,501.81, mainly due to the reclassification of long-term borrowings due within one year[16] - Total liabilities reached ¥477,413,142.82, with current liabilities at ¥270,292,282.99 and non-current liabilities at ¥207,120,859.83[61] - The total liabilities to assets ratio is approximately 52.6%, reflecting a balanced financial structure[62] Cash Flow - The net cash flow from operating activities was ¥11,527,231.28, down 73.02% compared to the previous year[8] - The net cash flow from operating activities was ¥51,936,828.34, a 15.89% increase from ¥44,814,003.39, mainly due to the expansion of overseas business and shorter collection periods from foreign customers[17] - The net cash flow from operating activities for Q3 2020 was CNY 51,936,828.34, an increase from CNY 44,814,003.39 in Q3 2019, reflecting a growth of approximately 15.5%[53] - Total cash inflow from operating activities was CNY 566,151,057.40, compared to CNY 241,072,631.22 in the same period last year, indicating a significant increase of about 135.0%[53] - The cash outflow from operating activities was CNY 514,214,229.06, up from CNY 196,258,627.83, representing an increase of approximately 161.0%[53] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 21,004[12] - The largest shareholder, Hangzhou Wantong Intelligent Control Holdings Co., Ltd., held 50.25% of the shares[12] - The company reported no significant changes in shareholding structure or any repurchase agreements during the reporting period[13] Research and Development - Research and development expenses increased by 100.61% to ¥21,767,601.27 from ¥10,850,604.05, driven by the same consolidation factors[16] - Research and development expenses amounted to CNY 7,032,384.27, compared to CNY 3,770,166.56 in the same period last year, reflecting an increase of approximately 86%[36] Financial Expenses - The company’s financial expenses surged by 453.98% to ¥8,567,348.54 from ¥1,546,510.84, primarily due to loan interest expenses and exchange rate losses[16] - The company’s financial expenses increased to ¥8,567,348.54 from ¥1,546,510.84, indicating a rise of about 453%[43] Other Financial Metrics - The company experienced a 186.50% increase in other payables, reaching ¥22,175,088.87 from ¥7,739,937.59, due to accrued expenses and foreign exchange impacts[16] - The company reported a total comprehensive income of CNY 6,776,834.95 for the quarter, compared to CNY 6,075,892.17 in the previous year[38] - The company incurred a foreign exchange loss of CNY 2,759,793.82, compared to a loss of CNY 1,083,105.76 in the previous year[38] Regulatory and Compliance - The company is in the process of a non-public offering of A-shares, pending approval from the China Securities Regulatory Commission, which introduces uncertainty regarding the timing and outcome[18] - The company has not undergone an audit for the Q3 report[66] - The company implemented new revenue and leasing standards starting in 2020, with no retrospective adjustments made[66]

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 362,617,254.26, representing a 144.48% increase compared to CNY 148,322,265.05 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was CNY 9,979,685.42, a decrease of 16.80% from CNY 11,994,522.26 in the previous year[18]. - The net profit after deducting non-recurring gains and losses was CNY 5,378,131.67, down 25.92% from CNY 7,259,891.78 in the same period last year[18]. - The net cash flow from operating activities was CNY 40,409,597.06, a significant increase of 1,827.64% compared to CNY 2,096,328.91 in the previous year[18]. - The total assets at the end of the reporting period were CNY 868,601,574.59, a decrease of 4.24% from CNY 907,077,960.02 at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company were CNY 430,370,870.69, a slight decrease of 0.11% from CNY 430,832,498.16 at the end of the previous year[18]. - The basic earnings per share were CNY 0.05, down 16.67% from CNY 0.06 in the previous year[18]. - The diluted earnings per share were also CNY 0.05, reflecting the same decrease of 16.67% compared to CNY 0.06 in the previous year[18]. - The weighted average return on net assets was 2.30%, a decrease of 0.51% from 2.81% in the previous year[18]. - The company reported a net profit of 1,049,784.09 CNY from its subsidiary, 万通气门嘴, with a revenue of 11,272,494.96 CNY, contributing over 10% to the company's net profit[74]. - The subsidiary 维孚金属公司 generated a net profit of 4,140,444.99 CNY with a revenue of 47,161,813.44 CNY, also significantly impacting the overall financial performance[74]. Investment and Acquisitions - The company acquired 100% equity of WMHG, enhancing its product offerings in exhaust systems for commercial vehicles[25]. - The company plans to raise up to CNY 309,632.3 thousand for projects related to vehicle networking sensors and smart vehicle communication systems[34]. - The company committed to an investment project with a total investment amount of CNY 139.00 million, of which CNY 137.79 million has been utilized, achieving a completion rate of 99.13%[58]. - The project for the production of 1 million sets of Tire Pressure Monitoring Systems (TPMS) and related components has been completed, with a total investment of CNY 17.61 million[57]. - The acquisition of WMHG equity and non-equity assets has been completed, with a total investment of CNY 13.90 million[60]. Research and Development - The company holds 72 patents, including 7 invention patents domestically and 6 internationally, showcasing its strong R&D capabilities[33]. - The company has a total of 53 technical personnel dedicated to research and development, focusing on programmable sensors and various types of TPMS products[42]. - Research and development expenses reached CNY 14,735,217.00, up 108.11% year-on-year[47]. - The company is focusing on the development of new products, including dual-frequency programmable TPMS sensors and smart tire lifecycle management systems[44]. - Investment in new product development increased by 25% year-over-year, focusing on innovative technologies in the smart control sector[88]. Market and Sales - The TPMS business revenue grew by 33.51% year-on-year, driven by the implementation of mandatory installation standards in China[43]. - The company has established long-term stable partnerships with major automotive manufacturers, including SAIC Group and Volkswagen, in the OEM market[25]. - The company has established a production base in Thailand to enhance its supply capabilities in the Southeast Asian market[43]. - The company is actively expanding its market presence by collaborating with major automotive manufacturers and aftermarket service providers[39]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by the end of 2021[88]. Financial Strategy and Risk Management - The company plans to adjust its sales strategy and innovate product processes to mitigate risks from raw material price volatility and enhance its product pricing power[77]. - The company aims to increase the proportion of RMB settlements in its export business to better manage exchange rate risks[78]. - The company plans to enhance its tracking of macroeconomic trends and adjust its product structure and marketing strategies accordingly to mitigate risks[76]. - The company faces significant risks from fluctuations in the prices of key raw materials, which include copper, aluminum, rubber, and batteries, impacting its main business costs and gross margin[77]. - The COVID-19 pandemic has introduced considerable uncertainty in the macroeconomic environment, delaying the resumption of operations and affecting communication with customers and suppliers[79]. Shareholder and Dividend Policy - The company plans to distribute cash dividends of no less than 20% of the distributable profits for the year, considering factors such as industry characteristics and major capital expenditure arrangements[91]. - The company has not distributed cash dividends or bonus shares during the reporting period[84]. - The company will prioritize cash dividends in its profit distribution policy, ensuring continuity and stability[90]. - The company must conduct at least one profit distribution per year if it is profitable and has positive undistributed profits[90]. - The company’s management has pledged to limit share transfers to no more than 25% of their total holdings annually during their tenure[86]. Compliance and Governance - The half-year financial report has not been audited[92]. - The company has not encountered any major changes in the feasibility of the committed investment projects[60]. - The company has not reported any significant financial impairments or risks related to entrusted financial management products[65][68]. - There are no significant litigation or arbitration matters affecting the company, with a contract dispute involving a claim of 4,500,000 RMB that is not expected to materially impact the company's financial status[94]. - The company has prepared an emergency response plan for environmental incidents and has established monitoring protocols for wastewater quality[113]. Future Outlook - The company provided a future outlook, projecting a revenue growth of 10% for the second half of 2020, driven by new product launches and market expansion[88]. - Future guidance suggests a cautious outlook due to market volatility, with expected revenue growth of approximately 5% in the next fiscal year[169]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[153].

Financial Performance - Total revenue for the first quarter reached ¥196,925,058.34, representing a 200.79% increase compared to ¥65,469,133.29 in the same period last year[8] - Net profit attributable to shareholders was ¥5,267,170.21, a significant increase of 515.73% from ¥855,434.38 year-on-year[8] - Net profit excluding non-recurring items was ¥4,000,818.49, up 1,276.56% from a loss of ¥340,044.55 in the previous year[8] - Basic earnings per share rose to ¥0.03, a 650.00% increase from ¥0.004 in the previous year[8] - The company's total revenue for the reporting period reached 196.93 million, a significant increase of 200.79% compared to the same period last year[17] - Net profit attributable to shareholders was 5.27 million, reflecting a growth of 515.73% year-on-year, primarily due to the increase in consolidated subsidiaries' revenue and profit[20] - The net profit for the quarter was CNY 5,488,064.87, up from CNY 1,272,853.63 year-over-year, reflecting a growth of approximately 330%[47] Cash Flow and Assets - Operating cash flow for the quarter was ¥12,074,975.55, an increase of 26.82% compared to ¥9,521,052.78 in the same period last year[8] - Cash flow from operating activities increased by 26.76% to 12.07 million, driven by the growth in revenue from newly acquired companies[19] - The company experienced a 40.38% decline in cash and cash equivalents, totaling 61.23 million, mainly due to repayment of short-term debts and investment in financial products[16] - The company’s investment income decreased by 61.08% to 466.74 thousand, reflecting reduced financial returns compared to the previous year[18] - The net cash flow from investing activities improved by 44.39%, with a net outflow of 22.05 million, indicating reduced expenditures on long-term assets[19] - As of March 31, 2020, the company's total assets amounted to CNY 862,882,249.77, a decrease from CNY 907,077,960.02 at the end of 2019, reflecting a decline of approximately 4.9%[40] - The company's cash and cash equivalents decreased to CNY 61,230,021.33 from CNY 102,695,985.53, representing a decline of about 40.5%[37] - The total non-current assets increased to CNY 414,717,557.79 from CNY 396,099,888.29, indicating ongoing investments in long-term assets[43] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 22,085[12] - The largest shareholder, Hangzhou Wantong Zhikong Co., Ltd., holds 50.25% of the shares, with 100,495,279 shares pledged[12] - The total equity attributable to shareholders increased to CNY 434,219,651.28 from CNY 430,832,498.16, an increase of approximately 0.9%[40] - The company reported a total equity of 429,664,817.20 CNY, which remained stable compared to the previous year, indicating consistent shareholder value[62] Operational Challenges and Strategies - The company has faced operational challenges due to the COVID-19 pandemic, impacting communication with customers and suppliers, as well as logistics efficiency[25] - The company has established measures to ensure employee health and safety while minimizing adverse effects on financial performance[25] - The company plans to mitigate risks from raw material price fluctuations by adjusting sales strategies and enhancing production efficiency[22] - The company is monitoring macroeconomic conditions and adjusting product structures to minimize risks associated with policy changes and market dynamics[21] - The company plans to enhance market promotion and customer development efforts in the Chinese market, particularly in response to stricter environmental and emission standards for vehicles[26] Acquisitions and Investments - The company completed a significant asset acquisition in 2019, with a focus on maintaining control over the acquired company while enhancing its competitive advantages and synergy effects[26] - The company has provided support to the acquired company in terms of domestic market resources and marketing channels to boost sales in China[26] - The company completed the acquisition of WMHG equity and non-equity assets, with a focus on maximizing the advantages of the acquired business[30] - The company plans to use the remaining raised funds of CNY 2,017,000 for permanent working capital to support its main business operations[31] Financial Reporting and Compliance - There were no violations regarding external guarantees or non-operating fund occupation by controlling shareholders during the reporting period[32][33] - The company has not yet implemented the new revenue and leasing standards, which may impact future financial reporting[65] - The first quarter report was not audited, which may affect the reliability of the financial data presented[66]

Financial Performance - Total revenue for Q1 2020 reached ¥108,287,146, representing a 65.40% increase compared to ¥65,469,133 in the same period last year[8]. - Net profit attributable to shareholders was ¥5,267,170, a significant increase of 515.73% from ¥855,434 in the previous year[8]. - The net profit after deducting non-recurring gains and losses was ¥4,000,818, marking a 1,276.56% increase from a loss of ¥340,044 in the same period last year[8]. - Basic earnings per share increased to ¥0.03, a 650.00% rise from ¥0.004 in the same period last year[8]. - The company reported a total profit of ¥8,935,476.87 for the current period, compared to ¥1,670,748.41 in the previous period, representing an increase of approximately 434%[48]. - Net profit for the current period was ¥5,488,064.87, up from ¥1,272,853.63 in the previous period, reflecting a growth of approximately 330%[48]. - The total comprehensive income for the current period was ¥3,460,161.37, compared to ¥1,238,970.00 in the previous period, indicating an increase of approximately 179%[49]. Cash Flow - Operating cash flow for the quarter was ¥12,074,975, up 26.82% from ¥9,521,052 in the previous year[8]. - The net cash flow from operating activities for the current period is CNY 12,074,975.55, an increase of 26.1% compared to CNY 9,521,052.78 in the previous period[56]. - Total cash inflow from operating activities is CNY 127,515,826.06, while cash outflow is CNY 115,440,850.51, resulting in a net cash flow of CNY 12,074,975.55[56]. - Cash inflow from investment activities decreased to CNY 167,959,569.42 from CNY 208,873,335.33, reflecting a decline of 19.5%[56]. - Cash flow from financing activities resulted in a net outflow of -CNY 30,549,380.80, compared to -CNY 7,739,493.91 in the previous period[57]. Assets and Liabilities - Total assets decreased by 4.87% to ¥862,882,249.77 from ¥907,077,960.02 at the end of the previous year[8]. - Current assets decreased from 477,456,252.81 to 422,608,082.68, a decline of about 11.5%[38]. - Total liabilities decreased from 477,413,142.82 to 429,609,384.79, a decline of about 10%[40]. - Short-term borrowings decreased significantly from 29,928,083.33 to 500,664.58, a reduction of approximately 98.3%[40]. - Total equity increased from 429,664,817.20 to 433,272,864.98, an increase of about 0.1%[41]. Research and Development - Research and development expenses rose to 11,243,284.78, marking a 213.20% increase, mainly due to the expanded consolidation scope[18]. - Research and development expenses for the current period amounted to ¥11,243,284.78, up from ¥3,589,803.68 in the previous period, indicating an increase of about 213%[47]. Risks and Challenges - The company faced risks related to macroeconomic fluctuations, which could impact the automotive parts industry, and plans to adjust product structures and marketing strategies accordingly[22]. - The company is exposed to risks from raw material price fluctuations, particularly for copper, aluminum, and rubber, which significantly affect the cost of main business operations[23]. - The ongoing COVID-19 pandemic has introduced uncertainties in the macroeconomic environment, affecting the company's operations and logistics efficiency[26]. - The company completed a significant asset acquisition in 2019, facing integration risks and potential goodwill impairment due to macroeconomic changes or operational risks of the acquired company[27]. Fund Utilization - The total amount of raised funds is 17,610,000 CNY, with 13,900,470 CNY allocated for changes in use, representing 78.94% of the total[30]. - The company has invested a total of 17,408,300 CNY from the raised funds, with no funds remaining unutilized as of the reporting period[30]. - The company has decided to use 2,254,580 CNY of the raised funds to replace pre-invested self-raised funds, with independent directors and the sponsor agreeing to this decision[32]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 22,085[12]. - There are no overdue commitments from actual controllers, shareholders, or related parties during the reporting period[28].