成都西菱动力科技股份有限公司 投资者关系活动记录表 编号:20230515 特定对象调研 □分析师会议 □媒体采访 □业绩说明会 投资关系活动类别 □新闻发布会 □路演活动 现场参观 □其他 ： 西菱动力：公司董事长兼总经理魏晓林、董事会秘书杨浩 | --- | |-------------------------------------------| | 宏信证券：徐轲、汤艳 对冲基金学会：王兴涛 | | 竹投资：陈兰竹 安信证券：张宝涵 | | 西部资管： 吴佩芳 华商基金：伍文友 | | 海彬 惠升基金：彭博文 浦银安盛：罗兰 | | 产：刘浩等。 | 活动参与人员 时间 2023 年 5 月 15 日、2023 年 5 月 18 日 地点 成都市青羊区腾飞大道 298 号公司会议室 形式 现场参观 交流内容及具体问答记录 一、董事会秘书杨浩先生介绍公司业务发展及发展规划 公司创立于 1999 年，2018 年登陆深交所创业板，目前公司业务覆盖汽车和航空军工两大板 块，在青羊区、大邑、郫都区、新都区建有 5 座生产基地。上市以来公司对传统汽车零件生产进 行数字化、自动化、智能化升级，优化产品及客户结构并 ...

成都西菱动力科技股份有限公司 投资者关系活动记录表 编号:20230512 工一体化的优势，为客户提供优质的解决方案，在 2022 年项目获取和产品定型的基础上，继续 围绕工艺创新和材料创新，构建航空军工领域的核心竞争力； （3）推进先进工艺的高温合金铸造标准线试制生产，尽快实现对外销售；发挥快速主动充型工 艺带来的成本与效率优势，顺应汽车产业的轻量化发展，为客户在轻量化领域提供可靠解决方案， 推进底盘轻量化铸件开发； （4）在凸轮轴总成、连杆总成、曲轴减震器领域，充分利用公司质量和市场资源优势，提升产 能利用率，优化客户及产品结构，实现传统业务稳定发展。 3、公司一季度净利润负增长，请问，公司对全年业绩增长有信心吗？请做出合理展望，谢谢 答：尊敬的投资者，您好！2023 年一季度因汽车行业下行及军品航空零部件客户推迟采购给公 司业务发展带来不利影响。随着汽车行业景气度的上升和军工客户采购订单的恢复以及公司涡轮 增压器产销量的提升，公司 2023 年业务将保持持续稳定发展。谢谢。 投资关系活动类别 □特定对象调研 □分析师会议 □媒体采访 ☑业绩说明会 □新闻发布会 □路演活动 □现场参观 □其他 ： 活动参 ...

届时，公司董事长兼总经理魏晓林先生、财务负责人王先锋先生、独立董事吴 传华先生、董事会秘书杨浩先生、保荐代表人关峰先生将出席本次说明会。 为充分尊重投资者、提升交流的针对性，现就公司 2022 年度业绩说明会提前向 投资者公开征集问题，广泛听取投资者的意见和建议。投资者可于 2023 年 5 月 11 日（星期四）17：30 前访问 http://ir.p5w.net/zj/，或扫描下方二维码，进入问题征集 专题页面。公司将在 2022 年度业绩说明会上，对投资者普遍关注的问题进行回答。 欢迎广大投资者积极参与本次网上说明会。 特此公告！ 证券代码：300733 证券简称：西菱动力 公告编号：2023-081 成都西菱动力科技股份有限公司 关于举行 2022 年度业绩网上说明会的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 成都西菱动力科技股份有限公司（以下简称"公司"）《2022 年年度报告摘要》 及《2022 年年度报告》已于 2023 年 4 月 26 在巨潮资讯网（http://www.cninfo.com.cn） 披露，为使广大投资者进一步了 ...

Financial Performance - The company's operating revenue for 2022 was CNY 1,107,236,531.50, representing a 47.64% increase compared to CNY 749,943,811.41 in 2021[16] - The net profit attributable to shareholders for 2022 was CNY 36,991,609.86, an increase of 84.58% from CNY 20,040,477.05 in 2021[16] - The net profit after deducting non-recurring gains and losses was CNY 34,319,333.05, up 116.38% from CNY 15,860,388.50 in the previous year[16] - The basic earnings per share for 2022 was CNY 0.2149, an increase of 80.74% compared to CNY 0.1189 in 2021[16] - The total assets at the end of 2022 were CNY 3,069,653,256.97, a 27.24% increase from CNY 2,412,407,582.07 at the end of 2021[16] - The net assets attributable to shareholders at the end of 2022 were CNY 1,695,858,159.93, reflecting a 28.77% increase from CNY 1,317,002,173.83 in 2021[16] - The net cash flow from operating activities for 2022 was CNY 37,527,566.10, a slight increase of 3.75% from CNY 36,170,543.90 in 2021[16] - The weighted average return on net assets for 2022 was 2.77%, up from 1.60% in 2021[16] Dividend and Capital Distribution - The company plans to distribute a cash dividend of CNY 1 per 10 shares, totaling CNY 190,174,615, and will also increase capital reserves by 6 shares for every 10 shares held[4] - The company proposed a cash dividend of 1 yuan per 10 shares, totaling 19,017,461.50 yuan for the year 2022[163] - The company will increase its share capital by 6 shares for every 10 shares held, resulting in a total increase of 114,104,769 shares, raising the total share capital to 304,279,384 shares[163] Market and Industry Trends - The automotive industry in China saw a production and sales growth of 3.40% and 2.10% respectively in 2022, with new energy vehicles experiencing a remarkable growth of 96.90% in production[26] - The market penetration rate of turbochargers is expected to rise from approximately 51% in 2019 to about 55% by 2025, indicating a growing demand for fuel-efficient technologies[29] - The Chinese automotive market is projected to continue expanding due to rising consumer income and demand for electric vehicles, with a significant increase in the sales of plug-in hybrid vehicles[26] - The government has implemented several policies to support the automotive industry, including tax reductions for certain vehicles and measures to stimulate consumption[30] Production and Capacity - The production capacity of camshaft assemblies increased from 367.80 thousand units in 2021 to 422.40 thousand units in 2022, while the capacity utilization rate decreased from 67.66% to 56.88%[48] - The production of connecting rod assemblies rose by 17.48% year-on-year, reaching 650.10 thousand units, with a sales increase of 12.16% to 634.54 thousand units[49] - The sales volume of turbochargers was 32.17 thousand units in 2022, marking a significant increase as the product began mass production and delivery[49] - The company’s production capacity for turbochargers increased from 20.00 thousand units in 2021 to 80.00 thousand units in 2022, with a capacity utilization rate of 41.25%[48] - Turbocharger sales volume reached 32.17 million units in 2022, with production capacity planned to increase from 800,000 units to 1,600,000 units in the future[77] Research and Development - R&D expenditures totaled ¥4,407.27 million, representing 3.98% of total revenue and an increase of 22.99% year-on-year[68] - The company is currently in the research phase for multiple R&D projects aimed at improving precision machining for aerospace components, which is expected to expand the product market[81] - The company is working on a project to enhance the performance of turbochargers, which is expected to improve processing efficiency significantly[82] - The company has developed hundreds of specifications for camshaft assemblies, connecting rods, crankshaft dampers, and turbochargers, establishing a strong technological foundation with proprietary core technologies[58] Risk Factors - The company faces potential risks including market fluctuations, changes in tax policies, and challenges in technological innovation and product development[4] - The company is exposed to raw material price fluctuations, which significantly impact production costs[109] - The company faces market risks due to reliance on concentrated customers in the aviation parts sector, particularly Chengdu Aircraft Industry Group[107] Governance and Compliance - The board of directors consists of seven members, including three independent directors, complying with relevant regulations[119] - The supervisory board has three members, including one employee representative, ensuring compliance with legal requirements[120] - The company has established a fair and transparent performance evaluation system for senior personnel, with the remuneration committee responsible for salary management[121] - The company strictly adheres to information disclosure obligations, ensuring timely and accurate information for all shareholders[122] - The company has not engaged in any securities or derivative investments during the reporting period[93][94] Employee and Management Structure - The total number of employees at the end of the reporting period was 2,673, with 1,475 in the parent company and 1,198 in major subsidiaries[155] - The professional composition includes 1,873 production personnel, 39 sales personnel, 289 technical personnel, 40 financial personnel, and 432 administrative personnel[155] - The company has established an annual training plan to enhance employees' business knowledge and skills, focusing on various aspects including safety management and corporate culture[158] Related Party Transactions - The total amount of related party transactions for the period is 551.49 million yuan, which does not exceed the approved transaction amount of 5,251.41 million yuan[200] - The company engaged in service transactions with Chengdu Bochuang, with a transaction amount of 56.26 million yuan[200] - The company sold products to Chengdu Bochuang for a total of 346.36 million yuan[200] - The rental income from leasing properties to Chengdu Bochuang amounted to 148.87 million yuan[200] Environmental and Social Responsibility - The company has implemented measures to reduce pollutant emissions and improve resource utilization efficiency, aligning with national environmental protection regulations[180] - The company has a strict safety management system and conducts regular training to enhance employees' safety awareness[181]

Financial Performance - The company's revenue for Q1 2023 was CNY 307,229,460.57, representing a 36.61% increase compared to CNY 224,896,271.76 in the same period last year[4] - Net profit attributable to shareholders decreased by 62.21% to CNY 10,209,742.77 from CNY 27,013,773.34 year-on-year[4] - The total operating revenue for Q1 2023 was CNY 307,229,460.57, an increase of 36.5% compared to CNY 224,896,271.76 in the same period last year[18] - The net profit for Q1 2023 was CNY 11,485,268.34, a decrease of 61.8% compared to CNY 30,066,180.21 in Q1 2022[18] - The total comprehensive income for the first quarter was CNY 11,485,268.34, compared to CNY 30,066,180.21 in the previous year, representing a decrease of approximately 61.8%[19] Cash Flow - The net cash flow from operating activities showed a significant decline of 596.78%, resulting in a negative cash flow of CNY -131,119,885.67[4] - Cash inflow from operating activities totaled CNY 194,439,860.44, down from CNY 210,255,581.36 year-over-year, indicating a decrease of about 7.8%[21] - Cash outflow from operating activities increased to CNY 325,559,746.11, compared to CNY 229,073,504.23 in the previous year, marking an increase of approximately 42.2%[22] - The net cash flow from investing activities was CNY -90,249,291.87, worsening from CNY -25,497,480.90 year-over-year[22] - Cash inflow from investing activities was CNY 123,484,269.91, significantly higher than CNY 13,800,000 in the previous year[22] - Cash outflow from investing activities rose to CNY 213,733,561.78, compared to CNY 39,297,480.90 in the same period last year, reflecting an increase of about 444.5%[22] - The net cash flow from financing activities was CNY 5,613,368.08, improving from CNY -4,905,004.42 in the previous year[22] - The ending cash and cash equivalents balance was CNY 189,376,249.36, compared to CNY 63,644,917.15 at the end of the previous year, indicating a significant increase[22] Expenses and Costs - The company reported a 60.69% increase in operating costs, which outpaced revenue growth due to decreased production capacity utilization[7] - The total operating costs for Q1 2023 were CNY 292,463,815.15, up 53.0% from CNY 191,150,709.85 in Q1 2022[18] - Research and development expenses increased by 44.52%, driven by projects related to lightweight subframes and hydrogen fuel cell systems[7] - The company reported R&D expenses of CNY 14,585,101.61, which is a 44.5% increase compared to CNY 10,091,920.12 in the previous year[18] Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,125,209,493.90, a 1.81% increase from CNY 3,069,653,256.97 at the end of the previous year[4] - The total liabilities increased to CNY 1,361,923,826.26 from CNY 1,327,666,295.12, an increase of 2.6%[17] - The company's equity attributable to shareholders increased to CNY 1,715,320,503.77 from CNY 1,695,858,159.93, reflecting a growth of 1.1%[17] Share Lock-up and Management - The company reported a total of 11,399,371 shares under lock-up at the beginning of the period, which remained unchanged by the end of the period[12] - A total of 1,585,677 shares were added to the lock-up category during the period, with a release date set for July 18, 2023[12] - The company has a significant number of shares (2,148,347) under lock-up scheduled for release on July 18, 2023[14] - The total number of shares under lock-up for various funds and plans amounts to 511,508 shares, with multiple entities involved[14] - The company has multiple high-level executives with shares under lock-up, including Wei Xiaolin with 38,154,791 shares[12] - The report indicates that 72,000 shares were added to Yang Hao's lock-up, bringing the total to 155,986 shares[12] - The company has a diverse range of institutional investors, including UBS AG, which holds 1,585,677 shares under lock-up[12] - The lock-up shares are primarily categorized as "initial public offering lock-up shares," indicating a strategic approach to share management post-IPO[12] - The company is set to release a significant number of shares on July 18, 2023, which may impact market dynamics[14] - The overall strategy appears to focus on maintaining share stability while preparing for future market expansions and potential new product launches[12] Accounts Receivable and Inventory - The company experienced a 32.91% increase in accounts receivable, attributed to increased sales through acceptance bills[7] - Accounts receivable increased to CNY 446,093,520.76 from CNY 415,447,509.15, reflecting a growth of 7.4%[16] - Inventory rose to CNY 446,442,928.88, up 13.8% from CNY 392,505,862.34 at the beginning of the year[16] Earnings Per Share - The company's basic earnings per share fell by 65.71% to CNY 0.0538 from CNY 0.1569 in the previous year[4] - Basic earnings per share for the first quarter were CNY 0.0538, down from CNY 0.1569 in the same period last year, representing a decrease of approximately 65.7%[19] Return on Equity - The weighted average return on equity decreased to 0.60% from 2.03% year-on-year[4]

成都西菱动力科技股份有限公司 证券简称：西菱动力 证券代码：300733 投资者关系活动记录表 | --- | --- | --- | --- | --- | |--------------------------------------------------|----------------------------------|--------------------------------------------------|-------------------------|------------------------------------------------------------------------------------| | 时间、地点 | 2020 年 9 月 24 日、 | 2020 年 9 月 25 日、 | 2020 年 9 月 28 | 日，公司会议室 | | 参与单位及人员 | | 投资吴洋 大成基金黄海听 广发证券资管王俊爽 | | 中信证券刘方舟、李景涛、陈卓 南方基金邹承原 嘉实基金张家驰 青骊 | | 公司接待人员 | | 董事会秘书杨浩 证券事务代表何心竹 ...

Group 1: Automotive Parts Business Development - The automotive industry is currently in a recovery phase, and the company plans to seize favorable opportunities to expand the market in 2021 [1] - Key growth points for the automotive business in 2021 include: - Mass production phase for customers Guangqi Toyota and FAW Toyota [1] - Mass production of turbocharger products [1] - Construction of two casting production lines funded by raised and self-raised capital, with one already in production and the other in testing [1] Group 2: Military and Aerospace Business Development - The company has established workshops for military and aerospace products, covering various military branches including air force and rocket forces [2] - Advantages of entering the military and aerospace sector include: - Integrated advantages in casting, forging, heat treatment, and machining [2] - Favorable geographical location for attracting military professionals and customer development [2] - Over 20 years of experience in precision processing and production management, with rich experience in quality and cost control [2] - Strong cash flow from the automotive division providing sufficient funding for the military products division [2] Group 3: Market Expansion and Orders - The company has officially become a qualified supplier for a major aircraft manufacturing company, which is a key supplier of military weaponry in China [2] - The company has also become a qualified supplier for clients including a civil aircraft company and a physics research institute, covering both military and civil aviation markets [2] - Due to the rapid growth in the military industry, the company is accelerating the construction of production facilities to meet customer demand, although military product revenue impact in 2020 was minimal [2] - There is uncertainty regarding the military division's revenue in 2021, and investors are advised to be aware of investment risks [2]

成都西菱动力科技股份有限公司 投资者关系活动记录表 证券简称：西菱动力 证券代码：300733 | --- | --- | --- | --- | |-------------------------|--------------------------------------------|------------------------------------------------------------------------------|-------------------------| | 时间 | 2022 年 2 月 15 日 | -2022 年 2 月 25 日 | | | 地点 | 成都市青羊区腾飞大道 | 298 号 | | | 参与单位名称及人员 姓名 | 申万宏源证券研究所 | 韩强、光大证券 | 贺根、东方证券 赵梓涵 | | 上市公司接待人员 | 董事会秘书杨浩 | 证券事务代表何心竹 | | | | 特定对象调研 | □分析师会议 | 媒体采访 | | 投资关系活动类别 | □业绩说明会 | 新闻发布会 | □路演活动 | | | 现场参观 其他 | ：电话线上交流 | | | ...

Group 1: Impact of Policies and Market Conditions - The electricity restriction policy in Sichuan had a short-term adverse effect on production but did not constitute a significant negative impact [4] - The military industry experienced minimal impact due to government support policies during the electricity restrictions [5] - The automotive parts sector managed production through self-owned and leased power generation, ensuring key customer demands were met [5] Group 2: Sales and Product Development - The overall sales of turbocharger products were low in the first half of the year due to the ramp-up phase of production and gradual increase in downstream installation volumes [6] - A significant portion of the turbocharger components is self-manufactured, with a higher current application in traditional fuel vehicles compared to new energy vehicles [6] - The company is focusing on expanding into the hybrid vehicle market, expecting a substantial increase in hybrid vehicle application in the future [6] Group 3: Aerospace and Defense Business - The main clients for the aerospace and defense sector include military units under AVIC, civil aircraft manufacturers, and the Rocket Force [7] - There is a noticeable growth trend in orders for military, civil aviation, and Rocket Force businesses due to the recovery of the civil aviation industry post-COVID-19 [7] Group 4: New Technologies and Profit Margins - The new casting technology is applicable for high-performance materials and complex castings, with plans for its application in the aerospace sector [8] - The increase in gross margin is attributed to an optimized customer structure in traditional automotive parts, significant business volume growth, and the introduction of a new production line for aviation parts in 2021 [8]

Financial Performance - The company's revenue for Q3 2022 reached ¥268,429,716.39, representing a year-on-year increase of 55.71%[4] - Net profit attributable to shareholders was ¥5,576,994.96, a significant increase of 400.42% compared to the same period last year[4] - The net profit after deducting non-recurring gains and losses was ¥5,018,468.90, up 314.48% year-on-year[4] - Total operating revenue for the third quarter of 2022 reached CNY 734,253,479.30, an increase of 40.4% compared to CNY 522,736,615.91 in the same period last year[23] - Net profit for the third quarter was CNY 46,970,029.28, representing a 42.6% increase from CNY 32,896,677.91 in the previous year[23] - The total comprehensive income for Q3 2022 was ¥46,970,029.28, compared to ¥32,896,677.91 in Q3 2021, indicating a year-over-year increase of about 42.6%[24] - The basic earnings per share for Q3 2022 was ¥0.2390, up from ¥0.1802 in the same period last year, reflecting a growth of approximately 32.6%[24] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,607,475,376.45, reflecting an 8.09% increase from the end of the previous year[4] - The company's total assets as of September 30, 2022, amounted to CNY 2,607,475,376.45, an increase from CNY 2,412,407,582.07 at the beginning of the year[22] - Total liabilities increased to CNY 1,186,623,602.16 from CNY 1,059,843,731.86 at the start of the year[21] - The company's equity attributable to shareholders increased to CNY 1,365,271,493.11 from CNY 1,317,002,173.83[22] Cash Flow - Cash flow from operating activities for the year-to-date reached ¥61,210,189.57, a substantial increase of 272.08%[4] - Cash inflows from operating activities for the period amounted to ¥762,882,866.16, compared to ¥477,307,140.00 in the previous year, marking an increase of about 59.7%[25] - The net cash flow from operating activities was ¥61,210,189.57, a significant recovery from a net outflow of ¥35,569,885.61 in the same period last year[26] - Cash outflows from investing activities totaled ¥128,473,312.38, down from ¥356,047,953.21 in the previous year, indicating a reduction of approximately 64.0%[26] - The net cash flow from financing activities was -¥16,113,544.86, a decrease from a positive cash flow of ¥399,298,223.34 in the same period last year[26] - The ending cash and cash equivalents balance was ¥42,203,951.77, down from ¥73,589,377.38 at the end of the previous year[26] Sales and Production - The company sold a total of 143,200 turbochargers from January to September 2022, with 91,300 units sold in the third quarter alone[10] - The company reported a 51.57% increase in cash received from sales of goods and services, driven by growth in turbocharger and traditional product sales[12] - Accounts receivable rose to CNY 354,151,009.66, up from CNY 224,530,327.63 at the start of the year, indicating improved sales performance[20] - Inventory levels increased to CNY 386,830,662.78 from CNY 310,912,250.07, reflecting higher production or stockpiling[20] Research and Development - Research and development expenses increased by 94.64% year-on-year, indicating a significant investment in product development to meet market demand[11] - Research and development expenses for the quarter were CNY 33,213,372.61, significantly higher than CNY 17,063,909.16 in the previous year, indicating a focus on innovation[23]