浙江兆丰机电股份有限公司 2021 年第三季度报告 证券代码：300695 证券简称：兆丰股份 公告编号：2021-055 浙江兆丰机电股份有限公司 2021 年第三季度报告 □ 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 | 本报告期比上年 | 年初至报告期末 | 年初至报告期末 | | --- | --- | --- | --- | --- | | | | 同期增减 | | 比上年同期增减 | | 营业收入（元） | 158,373,312.20 | 66.03% | 479,907,168.66 | 37.22% | | 归属于上市公司股东的净 利润（元） | 34,083,081.20 | -16.47% | 90,008,218.50 | -29.96% | | 归属于上市公司股东的扣 除非经常性损益的净利润 （元） | 33,623,319.51 | 11.00% | 82,131,365.77 | -30.75% | | 经营活动产生的现金流量 净额（元） | —— | —— | 34,499,567.3 ...

Financial Performance - The company's operating revenue for the reporting period was ¥321,533,856.46, representing a 26.41% increase compared to ¥254,348,469.05 in the same period last year[21]. - The net profit attributable to shareholders decreased by 36.24% to ¥55,925,137.30 from ¥87,706,866.30 year-on-year[21]. - The net cash flow from operating activities fell by 54.43% to ¥38,586,069.71, down from ¥84,665,117.85 in the previous year[21]. - The basic earnings per share decreased by 36.36% to ¥0.84, compared to ¥1.32 in the same period last year[21]. - Total assets increased by 7.00% to ¥2,387,924,679.76 from ¥2,231,755,304.43 at the end of the previous year[21]. - The net assets attributable to shareholders rose by 3.05% to ¥1,889,627,086.09 from ¥1,833,701,948.79 at the end of the previous year[21]. - The decline in net profit and cash flow was significantly impacted by rising steel prices, a decrease in the USD to RMB exchange rate, and increased shipping costs[21]. - The weighted average return on net assets decreased to 3.00% from 4.65% in the previous year[21]. - The company reported a total non-recurring gains and losses of 7,417,091.04 yuan for the reporting period[24]. Subsidiary Contributions - The company's subsidiary, Shaanxi Automobile Zhaofeng, contributed ¥65,628,700 in revenue during the reporting period[21]. - The company’s subsidiary, Shaanxi Automobile Zhaofeng, is expanding into the commercial vehicle chassis system components and new energy electric vehicle bridge units[29]. - The subsidiary Shaanxi Shacman Zhaofeng Technology Co., Ltd. reported a net loss of 948.49 million CNY during the same period[90]. - The company reported a net profit of 76.9 million CNY from its subsidiary Hangzhou Yifeng Auto Parts Co., Ltd. for the reporting period[90]. Research and Development - The company invested 19.73 million yuan in R&D during the reporting period, an increase of 25.23% compared to the previous year[41]. - The company has a strong focus on research and development, particularly in the fourth generation of wheel hub bearing units and electric control wheel hub bearing units[28]. - The company has established a provincial-level key enterprise research institute and a national-level postdoctoral research station, enhancing its R&D capabilities[52]. - The company has developed maintenance-free wheel hub bearing units for commercial vehicles, which can be widely applied across various commercial vehicle models[29]. - The electric vehicle hub motor drive and control system R&D project has an investment of 16,939 million yuan, with the project still ongoing[75]. Market and Sales Strategy - The company is actively expanding its domestic OEM market while strengthening its global aftermarket presence[40]. - The company’s products are primarily targeted at the high-end aftermarket, with sales channels including foreign import traders and domestic export traders[33]. - The automotive parts market is expected to continue expanding due to the increasing vehicle production and ownership, with a total of 292 million cars in China as of June 30, 2021[34]. - The company aims to enhance customer satisfaction through differentiated product development and comprehensive service offerings[49]. - The company has established long-term cooperation relationships with major domestic automotive manufacturers, including Changan Automobile and Dongfeng Xiaokang[34]. Financial Management and Investments - The company has received approval from the board and shareholders for the changes in the use of raised funds, ensuring compliance with regulatory requirements[79]. - The company has utilized 4,793.79 million yuan of raised funds to replace self-raised funds previously invested in projects[76]. - The company has committed to an annual production capacity of 3.6 million automotive hub bearing units by 2021[75]. - The company plans to invest 48.87 million CNY in the new project for the construction of a smart factory for the production of 30 million automotive hub bearing units, with an actual investment of 23.53 million CNY, achieving 48.15% of the planned investment[78]. - The company has not engaged in entrusted financial management during the reporting period[80]. Cash Flow and Liquidity - The cash flow from operating activities decreased by 54.43% to ¥38,586,069.71, primarily due to increased material costs[58]. - The company reported a significant decrease in cash outflows from investment activities, totaling 66,004,294.63 CNY compared to 139,028,260.96 CNY in the previous period[178]. - The overall financial position shows a decrease in cash reserves, highlighting potential liquidity concerns moving forward[181]. - The company reported a total of 29,600,000 CNY from self-owned funds and 37,000,000 CNY from raised funds in structured deposits[82]. - The company has no expected inability to recover principal or other impairment risks in cash management[83]. Risks and Challenges - The company faces risks from macroeconomic fluctuations and industry competition, which may impact operational performance[93]. - The company is exposed to foreign exchange risks, particularly with USD settlements, which have affected overall gross margins due to a declining USD/RMB exchange rate[98]. - The top five customers account for a significant portion of sales, posing a risk if any major customer faces operational or financial difficulties[95]. - The company maintains a high gross margin but faces potential declines due to raw material price fluctuations and increased competition in the auto parts industry[96]. Corporate Governance and Compliance - The company has not engaged in any entrusted loans during the reporting period[87]. - There were no significant asset or equity sales during the reporting period[88][89]. - The company has implemented measures to strengthen internal controls over its foreign exchange hedging activities[86]. - The company’s financial statements comply with the requirements of the enterprise accounting standards, accurately reflecting its financial position and operating results[198]. - The company has not identified any significant doubts regarding its ability to continue as a going concern for the next 12 months[196].

Financial Performance - Revenue for Q1 2021 was CNY 134,035,828.49, an increase of 8.54% compared to CNY 123,491,985.31 in the same period last year[9] - Net profit attributable to shareholders was CNY 35,348,445.86, a decrease of 15.78% from CNY 41,971,267.15 year-on-year[9] - Net profit excluding non-recurring gains and losses was CNY 31,272,287.08, down 27.94% from CNY 43,397,279.23 in the previous year[9] - Basic earnings per share decreased to CNY 0.53, down 15.87% from CNY 0.63 year-on-year[9] - The company reported a revenue of RMB 134.04 million for Q1 2021, an increase of 8.54% compared to RMB 123.49 million in Q1 2020[19] - The net profit attributable to shareholders was RMB 31.27 million, a decrease of 27.94% from RMB 43.40 million in the same period last year[19] - Operating profit for Q1 2021 was CNY 40,169,059.87, down from CNY 51,605,465.20 year-over-year, representing a decline of approximately 22.4%[55] - Net profit for Q1 2021 was CNY 33,619,363.73, compared to CNY 42,002,456.41 in the same period last year, reflecting a decrease of about 20.0%[55] - The total profit for Q1 2021 was CNY 40,119,859.74, down from CNY 49,479,905.46 year-over-year, a decline of approximately 18.5%[55] - The company reported a decrease in total comprehensive income to CNY 33,619,363.73 from CNY 42,002,456.41 in the previous year, a drop of about 20.0%[56] Cash Flow - Net cash flow from operating activities was negative CNY 9,641,973.38, a decline of 128.90% compared to CNY 33,360,473.00 in the same period last year[9] - The total cash inflow from operating activities was CNY 149,611,371.19, an increase of 3.7% compared to CNY 144,017,572.52 in the previous period[63] - The cash outflow for purchasing goods and services was CNY 125,092,900.99, which is a significant increase from CNY 79,063,132.04 in the prior period[63] - The cash inflow from investment activities totaled CNY 23,498,596.91, a substantial increase from CNY 161,370.00 in the previous period[67] - The cash outflow for acquiring fixed assets and other long-term assets was CNY 43,536,756.91, down from CNY 58,806,690.04 in the prior period[67] - The net cash flow from investment activities was CNY -29,038,160.00, an improvement from CNY -59,343,200.67 in the previous period[67] - The cash and cash equivalents at the end of the period were CNY 1,105,054,238.28, down from CNY 1,342,673,923.04 in the previous period[64] - The net increase in cash and cash equivalents was CNY -37,249,542.49, compared to CNY -24,693,149.78 in the prior period[64] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,328,255,688.19, an increase of 4.32% from CNY 2,231,755,304.43 at the end of the previous year[9] - Total liabilities amounted to CNY 412,129,302.75, an increase from CNY 385,248,282.72[47] - Owner's equity totaled CNY 1,916,126,385.44, compared to CNY 1,846,507,021.71 in the previous year[48] - Accounts receivable increased to CNY 248,302,770.49 from CNY 225,278,231.49 at the end of 2020[45] - Inventory levels rose to CNY 158,798,925.13, compared to CNY 105,390,496.56 at the end of 2020[45] Shareholder Information - The top three shareholders hold a combined 74.99% of the shares, with the largest shareholder owning 36.13%[13] - There were no significant changes in the number of shareholders or any repurchase transactions during the reporting period[14] Government and Subsidies - The company reported a government subsidy of CNY 3,899,577.91 during the reporting period[10] Research and Development - The company has obtained three new patents, including one invention patent and two utility model patents, enhancing its technological capabilities[21] - Research and development expenses for Q1 2021 amounted to CNY 7,879,949.66, an increase from CNY 7,015,988.29 in the prior year, indicating a growth of approximately 12.3%[55] Business Strategy and Risks - The company aims to balance domestic and international business development, focusing on sustainable growth in the new economic landscape[19] - The company is facing risks from macroeconomic fluctuations, which could impact product competitiveness and profitability[24] - The company has a high accounts receivable balance, which poses a risk of bad debts if the economic impact of COVID-19 persists[27] - The concentration of sales to the top five customers is high, which could pose risks if any major customer faces financial difficulties[28] - The company is actively monitoring the impact of the COVID-19 pandemic on its operations and is adjusting strategies accordingly[26] - The company is implementing measures to mitigate risks from fluctuating raw material prices and potential declines in gross margin[29] - The company is engaging in foreign exchange hedging to manage risks associated with currency fluctuations[30] Investments and Projects - The company plans to invest up to 600 million yuan in projects for producing 480,000 sets of maintenance-free hub bearing units and 2.3 million sets of new energy vehicle hub bearing units[33] - The company has received approval from the China Securities Regulatory Commission for a specific stock issuance project, valid for 12 months from February 5, 2021[33] - The annual production capacity expansion project for 3.6 million automotive hub bearing units has seen an investment progress of 63.89% as of December 31, 2021[36] - The electric vehicle hub motor drive and control system R&D project has a total commitment of CNY 16,939 million, with no changes in project status[37] - The cumulative investment in the project for the intelligent factory construction of precision forged automotive hub bearing units is CNY 22,726 million, achieving 46.50% of the planned investment[37] - The company established a joint venture, Shaanxi Shaqi Zhaofeng Technology Co., Ltd., with a registered capital contribution of CNY 7,200 million[38]

Financial Performance - The company's operating revenue for 2020 was ¥469,861,286.13, a decrease of 15.98% compared to ¥559,196,641.51 in 2019[17] - The net profit attributable to shareholders for 2020 was ¥159,849,557.21, down 25.38% from ¥214,204,901.39 in the previous year[17] - The net profit after deducting non-recurring gains and losses was ¥132,485,957.17, a decline of 34.05% from ¥200,878,129.25 in 2019[17] - The basic earnings per share for 2020 were ¥2.40, down 25.23% from ¥3.21 in 2019[17] - The weighted average return on equity was 8.55%, a decrease of 3.35% from 11.90% in the previous year[17] - The company's total revenue for the first quarter was approximately CNY 123.49 million, with a peak in the second quarter at CNY 130.86 million, followed by a decline to CNY 95.39 million in the third quarter, and a recovery to CNY 120.13 million in the fourth quarter[19] - The net profit attributable to shareholders for the first quarter was CNY 41.97 million, peaking at CNY 45.74 million in the second quarter, then decreasing to CNY 40.80 million in the third quarter, and dropping to CNY 31.34 million in the fourth quarter[19] - The company's revenue from automotive parts manufacturing was approximately ¥456.38 million, a decrease of 16.53% year-over-year, with a gross margin of 45.42%[75] Cash Flow and Assets - The net cash flow from operating activities increased by 39.37% to ¥211,355,873.89, compared to ¥151,654,221.85 in 2019[17] - The total assets at the end of 2020 were ¥2,231,755,304.43, reflecting a slight increase of 0.64% from ¥2,217,548,503.84 at the end of 2019[17] - The net cash flow from operating activities reached CNY 70.05 million in the third quarter, the highest for the year, while the first quarter recorded CNY 33.36 million and the fourth quarter recorded CNY 56.64 million[19] - The total cash inflow from operating activities was ¥612.84 million, an increase of 14.59% from the previous year[85] - The company's cash and cash equivalents decreased from 1,428,946,990.44 yuan (64.44% of total assets) at the beginning of the year to 1,238,205,611.39 yuan (55.48% of total assets) at year-end, a reduction of 8.96%[91] Inventory and Construction - The company's inventory increased by 31.12%, amounting to CNY 2,501.55 million, primarily due to severe container shortages affecting export shipments[38] - The company's in-progress construction projects increased by 411.06%, with an additional CNY 22,270.65 million invested, mainly due to accelerated investment in fundraising projects[38] - The company reported a significant increase in construction in progress from 54,178,171.38 yuan (2.44% of total assets) to 276,884,710.97 yuan (12.41% of total assets), an increase of 9.97% as projects are under construction[91] Research and Development - The company has a strong focus on research and development, particularly in the areas of fourth-generation wheel hub bearing units and electric control wheel hub bearing units[28] - R&D expenses totaled ¥35.29 million in 2020, representing 7.51% of total revenue, with a year-on-year increase of 2.73%[66] - The company holds 88 patents, including 35 invention patents, and was granted 4 invention patents and 3 utility model patents in 2020[45] Market and Sales - The company maintained a high proportion of overseas aftermarket revenue, which was significantly impacted by the global pandemic[35] - The domestic automotive market saw a slight decline, with production and sales down 2% and 1.9% respectively, but still leading globally[35] - The company has established a nationwide marketing network for the automotive aftermarket through authorized dealers, rapidly promoting its own brand "Zhaofeng"[35] - The company aims to enhance its market share by leveraging its ODM sales model and expanding its online marketing channels[61] Strategic Partnerships and Ventures - In October 2020, the company established a joint venture with Shaanxi Dongming Vehicle Systems Co., Ltd., focusing on commercial vehicle components and new energy vehicle axles, with the company holding a 60% stake[29] - The company has formed a strategic partnership with Shaanxi Automobile Group to expand its business in commercial vehicle chassis systems[59] - The company established a new subsidiary, Shaanxi Shanjia Zhaofeng Technology Co., Ltd., with a registered capital of ¥120 million, in which it holds a 60% stake[79] Risk Factors - The company faces risks including macroeconomic fluctuations, the impact of COVID-19, and a decline in gross profit margin[5] - The ongoing COVID-19 pandemic has disrupted global logistics, affecting order delivery and customer operations, with the company actively adjusting strategies to mitigate these impacts[119] - The company is exposed to foreign exchange risks, particularly with USD settlements; it is engaging in hedging activities to mitigate the impact of currency fluctuations on financial performance[123] Profit Distribution - The profit distribution plan for shareholders includes no cash dividends and no bonus shares, with a capital reserve transfer of 0 shares for every 10 shares held[5] - For the 2020 fiscal year, the company proposed not to distribute any cash dividends, stock bonuses, or capital reserve transfers, with the remaining undistributed profits carried forward to future years[135] - The company’s total distributable profits for the reporting period were RMB 624,099,150.15, with no cash dividends distributed[131] Corporate Governance - The company emphasizes the importance of independent opinions from independent directors regarding profit distribution decisions[140] - The company has established measures to ensure the fulfillment of commitments related to compensating for any dilution of immediate returns after the issuance of A-shares[143] - The company has committed to ensuring or making efforts to minimize the impact of the issuance on immediate returns, protecting shareholders' rights[141] Social Responsibility - The company has actively participated in social responsibility initiatives, including poverty alleviation efforts with a total investment of 65,000 CNY in various projects[174] - In response to the COVID-19 pandemic, the company donated 2,000,000 CNY for epidemic prevention efforts[170] - The company provided 50,000 CNY in scholarships to support impoverished students through the "Zhaofeng Class" at Hangzhou Technical College[171]

Financial Performance - Operating revenue for the reporting period was CNY 95,386,002.61, down 42.59% year-on-year[8] - Net profit attributable to shareholders was CNY 40,803,961.16, a decrease of 30.58% compared to the same period last year[8] - Net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 30,292,451.88, down 46.10% year-on-year[8] - Basic earnings per share were CNY 0.61, a decrease of 30.68% compared to the same period last year[8] - Total operating revenue for Q3 2020 was CNY 95,386,002.61, a decrease from CNY 166,152,657.98 in the previous period[43] - The net profit for Q3 2020 was CNY 40,847,680.68, down 30.6% from CNY 58,798,459.38 in Q3 2019[46] - The total profit for Q3 2020 was CNY 47,684,379.46, a decrease of 30.3% from CNY 68,451,287.48 in Q3 2019[45] - The total comprehensive income for Q3 2020 was CNY 40,847,680.68, a decrease of 30.6% from CNY 58,798,459.38 in Q3 2019[46] - The company's operating profit for Q3 2020 was CNY 47,684,699.11, down 30.3% from CNY 68,443,725.84 in the same quarter last year[45] - The total profit for the quarter was CNY 148,930,621.87, a decrease of 7.5% from CNY 161,754,960.92 in the same quarter last year[54] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,136,735,728.52, a decrease of 3.64% compared to the end of the previous year[8] - Total assets as of September 30, 2020, were CNY 2,140,425,985.14, compared to CNY 2,221,949,408.12 at the end of 2019[40] - Total liabilities decreased to CNY 332,066,422.01 from CNY 341,809,166.54 year-on-year[41] - Total liabilities reached CNY 342,877,364.60, with current liabilities at CNY 320,902,403.58 and non-current liabilities at CNY 21,974,961.02[70] - The company holds non-current financial assets valued at CNY 82,000,000.00, indicating long-term investment strategies[68] Cash Flow - The net cash flow from operating activities was CNY 70,054,169.49, an increase of 89.61% year-on-year[8] - Operating cash inflow for Q3 2020 was CNY 494.52 million, up from CNY 363.40 million in Q3 2019, representing an increase of 36.1%[61] - Net cash flow from operating activities was CNY 154.72 million, compared to CNY 77.17 million in the same period last year, indicating a growth of 100.5%[61] - Cash outflow from investment activities totaled CNY 207.11 million, a decrease from CNY 2.25 billion in Q3 2019, reflecting a significant reduction in investment spending[62] - The company reported a cash outflow from financing activities of CNY 200.03 million, compared to CNY 66.68 million in the same quarter last year, indicating increased financing costs[63] Shareholder Information - The total number of shareholders at the end of the reporting period was 10,280[12] - The largest shareholder, Hangzhou Dazhaofeng Industrial Group Co., Ltd., held 36.13% of the shares[12] - Cash dividends of RMB 30 per 10 shares were distributed, totaling RMB 200,033,100, with the distribution successfully completed on July 8, 2020[27] - The company has not made any adjustments to its profit distribution policy during the reporting period, ensuring clarity and compliance with regulations[27] Strategic Initiatives - The company signed a strategic cooperation framework agreement with Shaanxi Automobile Group, aiming to expand its main business and explore new profit growth points[20] - The company plans to issue up to 10 million shares, raising a total of no more than RMB 600 million for projects including the production of 480,000 sets of maintenance-free hub bearing units for commercial vehicles and 2.3 million sets for new energy vehicles[22] Research and Development - Research and development expenses for Q3 2020 were CNY 8,594,821.44, an increase of 11.5% compared to CNY 7,706,030.19 in Q3 2019[48] - Research and development expenses increased to CNY 24,349,393.61, up from CNY 21,996,447.14 year-over-year, indicating a focus on innovation[56] Tax and Financial Management - The company received tax refunds amounting to RMB 32,174,181.82, a significant increase of 394.04% compared to RMB 6,512,526.13 in the previous year[19] - The company’s tax expenses for Q3 2020 were CNY 6,836,698.78, down 29.4% from CNY 9,652,828.10 in the previous year[45] - The company experienced a foreign exchange loss of CNY 2.80 million, contrasting with a gain of CNY 5.20 million in the same period last year, indicating increased currency volatility[65] Compliance and Reporting - The company implemented new revenue and leasing standards starting from 2020[76] - The third quarter report was not audited[76]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥254,348,469.05, representing an increase of 18.32% compared to ¥214,959,339.44 in the same period last year[19]. - The net profit attributable to shareholders was ¥87,706,866.30, up 9.28% from ¥80,255,471.19 in the previous year[19]. - The net cash flow from operating activities increased by 110.50%, reaching ¥84,665,117.85 compared to ¥40,220,991.40 in the same period last year[19]. - The basic earnings per share rose to ¥1.32, a 10.00% increase from ¥1.20 in the previous year[19]. - Total assets at the end of the reporting period were ¥2,327,208,741.60, reflecting a growth of 4.95% from ¥2,217,548,503.84 at the end of the previous year[19]. - The net profit for the first half of 2020 was ¥87.70 million, representing a growth of 9.3% from ¥80.20 million in the same period of 2019[169]. - The company reported a total profit of CNY 101,616,069.16, which is an increase from CNY 93,744,367.83, representing an increase of 8.9%[173]. - The total comprehensive income for the first half of 2020 was 88,067,546.66 CNY, showing a significant increase compared to the previous period[187]. Assets and Liabilities - The company's total liabilities increased to CNY 564,872,982.45 from CNY 342,877,364.60, marking a significant rise of approximately 64.5%[161]. - Cash and cash equivalents at the end of the reporting period amounted to ¥1,402,081,328.14, representing 60.25% of total assets, a decrease of 7.20% compared to the previous year[69]. - Accounts receivable increased to ¥280,942,328.49, accounting for 12.07% of total assets, up by 2.46% year-on-year, primarily due to increased sales and slower collection speed[69]. - The company's equity attributable to shareholders decreased to CNY 1,761,559,257.88 from CNY 1,873,885,491.58, a decline of approximately 5.97%[162]. - The total liabilities at the end of the first half of 2020 were not explicitly stated but can be inferred from the equity changes[189]. Investment and R&D - Research and development investment totaled ¥15,754,572.17, a 10.25% increase year-on-year, accounting for 6.19% of total revenue[57]. - The company has established a provincial-level key enterprise research institute and a national-level postdoctoral research workstation, enhancing its R&D capabilities for new technologies and products[47]. - The company is focusing on developing fourth-generation and electric control hub bearing units, indicating a commitment to innovation and technology advancement[30]. - The company plans to enhance its investment in new technologies and market expansion strategies to drive future growth and improve financial performance[182]. Market and Business Strategy - The company continues to focus on the research, development, and production of automotive wheel hub bearing units, with no significant changes in its main business[26]. - The company has established good business relationships with well-known foreign automotive parts manufacturers such as Gates and SKF[37]. - The company has implemented a sales strategy that includes expanding its domestic and international markets, leveraging both traditional and online channels[37]. - The company is actively expanding into the commercial vehicle hub bearing unit market, achieving positive results in recent years[30]. Cash Flow and Financial Management - The company reported a significant increase in cash flow from operating activities, amounting to ¥84,665,117.85, a 110.50% increase compared to ¥40,220,991.40 in the previous year[62]. - The cash outflow for investing activities was CNY 139,028,260.96, compared to CNY 1,565,210,945.23 in the previous year, indicating a decrease in investment spending[176]. - The financing activities resulted in a net cash outflow of -¥66,677,700.00, primarily due to cash payments for dividends and interest distributions[180]. - The company has implemented strict management of raised funds to ensure effective investment in projects despite market uncertainties[102]. Risks and Challenges - The company faces risks including market risk, accounts receivable bad debt risk, and declining gross profit margins[5]. - The company maintains a high gross margin but faces potential declines due to increased competition and fluctuations in raw material prices[99]. - The company has a high proportion of export revenue, which may be adversely affected by the COVID-19 pandemic impacting international logistics and market demand[96]. Corporate Governance and Compliance - The semi-annual financial report was not audited[109]. - There were no major litigation or arbitration matters during the reporting period[112]. - The company has not engaged in any significant related party transactions during the reporting period[117]. - The company actively complies with environmental protection regulations and has not faced any penalties for violations during the reporting period[128]. Shareholder Information - The total number of shares is 66,677,700, with 74.99% being restricted shares and 25.01% being unrestricted shares[139]. - The largest shareholder, Hangzhou Dazhaofeng Industrial Group, holds 36.13% of the shares, totaling 24,089,286 shares[142]. - Foreign ownership accounts for 18.77% of the total shares, equivalent to 12,517,857 shares[139]. - The company did not distribute cash dividends or issue new shares during the reporting period, reflecting a focus on reinvestment[107].

Financial Performance - Total operating revenue for Q1 2020 was ¥123,491,985.31, an increase of 31.57% compared to ¥93,862,182.43 in the same period last year[8] - Net profit attributable to shareholders was ¥41,971,267.15, representing a growth of 34.97% from ¥31,096,809.18 year-on-year[8] - Net profit excluding non-recurring gains and losses reached ¥43,397,279.23, up 71.78% from ¥25,263,345.18 in the previous year[8] - Basic earnings per share increased to ¥0.63, a rise of 34.04% compared to ¥0.47 in the same period last year[8] - The net cash flow from operating activities was ¥33,360,473.00, down 9.56% from ¥36,888,122.76 in the previous year[8] - Total operating costs for Q1 2020 were CNY 72,184,602.77, compared to CNY 64,407,028.78 in Q1 2019, representing an increase of approximately 27%[48] - Net profit for Q1 2020 reached CNY 42,002,456.41, up from CNY 31,059,208.66 in Q1 2019, indicating a growth of about 35%[49] - Earnings per share for Q1 2020 were CNY 0.63, compared to CNY 0.47 in the same quarter last year, reflecting an increase of 34%[50] - Total comprehensive income for the period was CNY 42,061,185.98, compared to CNY 31,260,117.62 in the previous year, reflecting a growth of 34.5%[54] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,263,495,196.49, reflecting a 2.07% increase from ¥2,217,548,503.84 at the end of the previous year[8] - The company's total current assets were reported at ¥1,801,632,038.94 as of January 1, 2020[64] - The company's total non-current assets amounted to ¥415,916,464.90, contributing to the overall asset total[64] - The total liabilities as of March 31, 2020, were CNY 346.82 million, slightly up from CNY 342.88 million at the end of 2019[41] - The company's total equity increased to CNY 1,916.67 million from CNY 1,874.67 million, representing an increase of approximately 2.2%[42] Cash Flow - Cash inflow from operating activities totaled CNY 144,017,572.52, compared to CNY 114,766,612.17 in the previous year, marking a 25.4% increase[56] - The net cash flow from operating activities was CNY 33,360,473.00, slightly down from CNY 36,888,122.76, indicating a decrease of 13.6%[57] - The company reported a cash and cash equivalents balance of CNY 1,342,673,923.04 at the end of the period, down from CNY 1,367,367,072.82 at the beginning[58] - The total cash and cash equivalents at the end of the period were ¥1,295,628,898.88, down from ¥1,319,873,401.16 at the beginning of the period, reflecting a net decrease of ¥24,244,502.28[61] Investments and Projects - The company is expanding its production capacity with a project to produce 3.6 million sets of automotive hub bearing units, with a total investment of CNY 48,669 million, of which 39.27% has been completed as of the report date[32] - The company is also upgrading its technology center with an investment of CNY 9,983 million, of which 26.59% has been completed[32] - The electric vehicle hub motor drive and control system project has a total investment of CNY 16,939 million, with the project status being on track for completion by December 31, 2020[32] - The total amount raised from fundraising projects is CNY 95,759.4 million, with CNY 3,556.29 million invested in the current quarter and a cumulative investment of CNY 30,677.09 million, representing 51.03% of the total raised funds[31] Market and Competition - The company is closely monitoring the impact of the COVID-19 pandemic on global automotive demand and is prepared to adjust its strategies accordingly[22] - The company has maintained a high gross margin through technological innovation and product differentiation, but faces potential declines due to increased competition in the aftermarket, lower prices in the main market, fluctuations in steel prices, and appreciation of the RMB[25] - The company plans to enhance its market competitiveness by improving technological innovation and accelerating digital transformation efforts[19] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 11,107[12] - The company has not reported any overdue commitments from actual controllers, shareholders, or related parties during the reporting period[29] - The company has not indicated any significant changes in net profit compared to the same period last year[34] Financial Standards and Compliance - The company has adopted new revenue and leasing standards starting from January 1, 2020, which resulted in adjustments to the financial statements[62] - The first quarter report for 2020 was not audited, which may affect the reliability of the financial data presented[68]

Financial Performance - The company's operating revenue for 2019 was CNY 559,196,641.51, representing a 12.43% increase compared to CNY 497,387,040.53 in 2018[16] - The net profit attributable to shareholders for 2019 was CNY 214,204,901.39, a 9.32% increase from CNY 195,940,956.94 in the previous year[16] - The net profit after deducting non-recurring gains and losses increased by 31.56% to CNY 200,878,129.25 from CNY 152,691,852.74 in 2018[16] - The company's total assets at the end of 2019 were CNY 2,217,548,503.84, up 10.40% from CNY 2,008,587,302.72 at the end of 2018[16] - The net assets attributable to shareholders increased by 8.70% to CNY 1,873,885,491.58 from CNY 1,723,924,911.59 in 2018[16] - The basic earnings per share for 2019 were CNY 3.21, a 9.18% increase from CNY 2.94 in 2018[16] - The weighted average return on net assets was 11.90%, slightly up from 11.69% in the previous year[16] - The net cash flow from operating activities for 2019 was CNY 151,654,221.85, a 7.57% increase from CNY 140,978,179.90 in 2018[16] Dividend Distribution - The company plans to distribute a cash dividend of CNY 30 per 10 shares, totaling CNY 20,003,310.00 based on 66,677,700 shares[5] - For the 2019 fiscal year, the company plans to distribute cash dividends of RMB 30 per 10 shares, totaling RMB 200,033,100, with no capital reserve conversion or stock dividends[126] - The cash dividend distribution for 2019 represents 100% of the profit distribution total, ensuring full return to shareholders[123] - The cash dividend for 2019 represents 93.38% of the net profit attributable to ordinary shareholders, which was RMB 214,204,901.39[129] - The company has maintained a consistent cash dividend policy over the past three years, with total cash dividends of RMB 200,033,100 in 2019, RMB 66,677,700 in 2018, and RMB 100,016,550 in 2017[129] Market Expansion and Product Development - The company has developed over 3,800 types of automotive hub bearing units, covering major mid-to-high-end passenger and commercial vehicle models globally[29] - The company actively expanded into the commercial vehicle hub bearing unit market, achieving positive results in recent years[29] - The company has established a national automotive aftermarket marketing network to promote its self-owned brand products domestically[34] - The company has entered multiple domestic OEMs and is actively negotiating business cooperation with high-quality domestic and foreign automotive brands[34] - The company is actively expanding its "Zhaofeng" brand in the domestic aftermarket, aiming to become a leading player in the automotive hub bearing sector[50] Research and Development - The company’s R&D investment remains high, contributing to product differentiation and competitive advantages in quality and service[49] - The company has formed strategic partnerships with universities and research institutions to enhance its R&D capabilities and technological level[43] - The company plans to increase R&D investment to enhance technical solutions and improve service quality for key clients while expanding into new domestic and international markets[114] - The company will maintain high R&D investment to enhance product quality and performance, focusing on differentiated product positioning[104] Risk Management - The company faces risks including market risk, accounts receivable bad debt risk, and declining gross profit margins, which are detailed in the report[5] - The company has implemented measures to mitigate risks associated with accounts receivable, including insurance coverage and maintaining good communication with clients[112] - The company has implemented foreign exchange hedging strategies to mitigate risks associated with currency fluctuations[116] Asset Management - The company reported a decrease in the proportion of cash and cash equivalents in total assets by 6.75% due to increased accounts receivable and payable[79] - The company’s liabilities included a deferred tax liability of CNY 7,212,462.75, reflecting accelerated depreciation of fixed assets[79] - The total amount of raised funds is RMB 95,759.4 million, with RMB 27,120.8 million used to date[88] - The company has a remaining unused raised fund amount of RMB 48,869 million, accounting for 51.03% of the total raised funds[88] Corporate Governance - The company has completed the board and supervisory board elections, ensuring stable governance[176] - The company reported a change in management, with Kong Aixiang transitioning from General Manager to Chairman as of January 10, 2019[200] - The company experienced a complete turnover in independent directors, with Huo Xudong, Xu Yaming, and Ruan Fangmin all leaving their positions on January 10, 2019[200] Social Responsibility - The company established a charitable fund of 10 million RMB, named "Zhaofeng Electromechanical Charity Fund," to support charitable activities over five years[169] - The company actively participated in social responsibility initiatives, including a donation of 2 million RMB to support COVID-19 prevention efforts[169] - The company has made significant contributions to poverty alleviation, with a total investment of 550,000 RMB in public welfare funds[172] Compliance and Regulations - The company has not faced any penalties or corrective actions during the reporting period[145] - The company has committed to fulfilling its obligations regarding social insurance and housing fund contributions for employees[133] - The company has not engaged in any financing or guarantee services without regulatory approval, ensuring compliance with financial regulations[187]

浙江兆丰机电股份有限公司 2019 年第三季度报告全文 浙江兆丰机电股份有限公司 2019 年第三季度报告 1 浙江兆丰机电股份有限公司 2019 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。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人孔爱祥、主管会计工作负责人缪金海及会计机构负责人(会计主 管人员)缪金海声明：保证季度报告中财务报表的真实、准确、完整。 2019-065 2 2019 年 10 月 浙江兆丰机电股份有限公司 2019 年第三季度报告全文 第二节 公司基本情况 浙江兆丰机电股份有限公司 2019 年第三季度报告全文 √ 适用 □ 不适用 | | | 伙企业（有限合伙）分红款 | | --- | --- | --- | | | -3,351,749.65 | 外汇期权合约期末公允价值变 动损益 | | 除同公司正常经营业务相关的有效套期保值业务外，持有交易 性金融资产、衍生金融资产、交易性金融负债 、衍生金融负 | | | | 债产生的公 ...

Financial Performance - Total revenue for the first half of 2019 was CNY 214,959,339.44, a decrease of 7.85% compared to CNY 233,274,635.09 in the same period last year[19]. - Net profit attributable to shareholders was CNY 80,255,471.19, down 11.99% from CNY 91,191,569.96 year-on-year[19]. - Basic earnings per share decreased by 12.41% to CNY 1.20 from CNY 1.37 in the same period last year[19]. - The company achieved operating revenue of 215 million yuan, a year-on-year decrease of 7.85%[51]. - The net profit attributable to shareholders was 80.26 million yuan, down 11.99% year-on-year[51]. - The total profit for the first half of 2019 was CNY 93,303,673.44, down from CNY 106,300,766.80 in the same period of 2018, a decrease of about 12.9%[164]. - The company reported a total comprehensive income of CNY 80,200,621.83 for the first half of 2019, compared to CNY 91,191,569.96 in the same period of 2018[165]. Cash Flow and Investments - Operating cash flow net amount was CNY 40,220,991.40, a decline of 41.17% compared to CNY 68,371,610.78 in the previous year[19]. - The net cash flow from investment activities was ¥58,852,645.61, recovering from a negative cash flow of -¥109,415,495.27 in the first half of 2018[172]. - Cash inflow from investment activities totaled ¥1,624,063,590.84, slightly down from ¥1,650,049,493.42 in the same period last year[172]. - The total amount of entrusted financial management during the reporting period was CNY 450 million, with CNY 150 million overdue[85]. - The company has invested CNY 78.5 million in structured deposits from raised funds, with CNY 76.5 million still unexpired[86]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,015,952,103.13, an increase of 0.37% from CNY 2,008,587,302.72 at the end of the previous year[19]. - Total liabilities decreased to CNY 320,190,236.26 from CNY 329,576,154.35, representing a reduction of approximately 2.1%[160]. - Owner's equity increased to CNY 1,746,817,548.66 from CNY 1,730,034,665.34, showing an increase of about 1.0%[161]. - The company’s total liabilities included derivative financial liabilities of ¥7,048,240.52, representing 0.35% of total liabilities[67]. Research and Development - Research and development investment increased by 1.98% to approximately ¥14.29 million, reflecting the company's commitment to innovation[59]. - The company has established a provincial-level key enterprise research institute and a national-level postdoctoral research station, enhancing its R&D capabilities[40]. - The company has developed innovative products that have reached international advanced levels, such as the active gear axle bearing unit for commercial vehicles[38]. Market and Industry Position - The company specializes in the research, production, and sales of automotive wheel hub bearing units, with a total of over 3,600 types developed by June 2019, covering major mid-to-high-end passenger and commercial vehicle models globally[27]. - The company has established strong business relationships with well-known automotive parts manufacturers such as Huayuan and SKF, and is actively expanding its presence in the original equipment manufacturer (OEM) market[32]. - The company’s export business revenue is significantly impacted by international trade conditions, with recent challenges from the US-China trade war affecting overall revenue[35]. - The company is positioned in a strong automotive parts industrial cluster in the Yangtze River Delta, benefiting from high operational efficiency and strong supply chain capabilities[44]. Corporate Governance and Compliance - The company successfully completed the election of the fourth board of directors and supervisory board, which is expected to positively impact corporate governance and strategic goals[57]. - The financial report for the first half of 2019 was not audited, which may affect the reliability of the financial data presented[151]. - There were no penalties or rectifications reported during the reporting period, indicating compliance with regulatory requirements[110]. Risk Management - The company faces risks including market risk, customer concentration risk, and exchange rate fluctuations[6]. - The company has identified risks associated with foreign exchange hedging, including exchange rate fluctuation risk and internal control risk[90]. - The company plans to enhance its research and analysis of exchange rates to mitigate risks from significant fluctuations[90]. Shareholder Information - The total number of shares is 66,677,700, with 74.99% being limited shares[133]. - The largest shareholder, Hangzhou Dazhaofeng Industrial Group Co., Ltd., holds 36.13% of the shares[136]. - The total number of common stock shareholders at the end of the reporting period is 12,606[136]. - The company has not reported any significant changes in shareholding or stock issuance during the reporting period[135]. Social Responsibility - The company has established a charity fund of 10 million yuan, named "Zhaofeng Electromechanical Charity Fund," to support charitable activities over five years[124]. - The company donated 50,000 RMB to support the 19th "Spring Breeze Action" in Xiaoshan District, Hangzhou, in February 2019[125]. - The company invested 50,000 RMB in its poverty alleviation public welfare fund[127].