Financial Performance - The company's operating revenue for 2021 was ¥749,943,811.41, representing a 46.14% increase compared to ¥513,173,338.83 in 2020[26]. - The net profit attributable to shareholders for 2021 was ¥20,040,477.05, a significant increase of 147.03% from ¥8,112,699.81 in 2020[26]. - The net profit attributable to shareholders after deducting non-recurring gains and losses reached ¥15,860,388.50, up 294.71% from ¥4,018,253.08 in 2020[26]. - The net cash flow from operating activities was ¥36,170,543.90, a dramatic increase of 2,711.89% compared to ¥1,286,341.55 in 2020[26]. - The total assets at the end of 2021 amounted to ¥2,412,407,582.07, reflecting a 38.91% increase from ¥1,736,707,146.53 at the end of 2020[26]. - The company's basic earnings per share for 2021 was ¥0.1189, which is a 134.52% increase from ¥0.0507 in 2020[26]. - The company achieved a total revenue of ¥749,943,811.41 in 2021, representing a 46.14% increase compared to ¥513,173,338.83 in 2020[62]. - The revenue from automotive parts was ¥629,831,903.41, accounting for 83.98% of total revenue, with a year-on-year growth of 24.60%[62]. - The revenue from aviation parts reached ¥96,162,197.05, contributing 12.82% to total revenue, marking the beginning of significant growth in this sector[62]. - The company reported a gross profit of 13.12 million yuan, which is a 58.10% increase compared to the previous year[57]. Market Position and Strategy - The company reported a significant market position and strong competitiveness in the automotive parts manufacturing sector, but faces risks from macroeconomic conditions and industry developments[6]. - The company aims to enhance its core competitiveness by entering the new energy vehicle parts market, responding to the rapid growth of the electric vehicle sector[12]. - The company has expanded its market presence in the new energy vehicle sector, securing multiple projects including those with Ideal Auto and BYD[57]. - The company is committed to a dual business strategy focusing on automotive components and military/civil aviation components, enhancing its core competitiveness through accelerated new product development[118]. - The company is focused on expanding its market presence and developing new technologies to enhance its competitive edge[136]. Investment and R&D - The company has invested in key technologies for automotive engine components, including crankshaft torsional dampers and camshafts, to maintain its competitive edge in precision manufacturing[10]. - The company has initiated research and development for hydrogen fuel cell systems, leveraging its technological and talent advantages[57]. - The company is increasing R&D investment in cutting-edge technologies, including hydrogen fuel cell systems, to enhance product offerings in high-value sectors[113]. - The company has made strategic investments in new production lines for turbochargers and aviation components, which are expected to contribute to revenue growth in 2022[68]. - The company has established a technical and market development department to promote the new casting technology across various sectors, including aerospace and military applications[49]. Cost Management and Risks - Raw material costs, including round steel and waste steel, constitute a high proportion of operating costs, necessitating effective inventory management and supplier optimization to mitigate price fluctuations[9]. - The company faced cost pressures due to rising prices of raw materials and disruptions in the automotive chip supply chain caused by the COVID-19 pandemic[36]. - The company is addressing risks related to raw material price volatility, which significantly impacts production costs, by optimizing supplier management and inventory control[116]. - The company faces market risks due to fluctuations in demand influenced by macroeconomic conditions and industry policies, which could impact operations[114]. Governance and Management - The company has established a complete and independent operational system, ensuring no interference from controlling shareholders in major decision-making processes[122]. - The company maintains financial independence with its own bank accounts and financial decision-making systems, ensuring compliance with tax obligations[126]. - The company has a transparent governance structure, with a board of directors that operates in accordance with legal and regulatory requirements, ensuring fair treatment of all shareholders[124]. - The company has implemented an equity incentive plan to motivate and retain key management personnel, which has resulted in increased shareholdings among executives[130]. - The management team includes experienced professionals with backgrounds in military service, engineering, and finance, enhancing the company's operational capabilities[133][135][137]. Shareholder Engagement and Remuneration - The company held its 2020 annual general meeting with 38.64% investor participation and the first extraordinary general meeting of 2021 with 41.29% participation, reflecting shareholder engagement[128]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to 3.45 million yuan[142]. - Chairman and General Manager Wei Xiaolin received a pre-tax remuneration of 709,700 yuan[142]. - Director and Executive Vice President Tu Peng received a pre-tax remuneration of 474,500 yuan[142]. - The company’s independent directors received a pre-tax remuneration of 60,000 yuan each[140]. Compliance and Internal Control - The internal control system was implemented in compliance with relevant regulations, ensuring the legality and safety of operations, with no significant internal control deficiencies reported during the period[160]. - There were no significant deficiencies in internal control identified during the reporting period, both in financial and non-financial reporting[164]. - The company has not faced any penalties from securities regulatory authorities for its directors in the past three years[139]. - The company has not reported any violations in the management of raised funds, maintaining compliance with disclosure obligations[102]. Environmental and Social Responsibility - The company has committed to environmental protection and resource conservation, continuously improving processes to reduce emissions[170]. - The company has implemented a strict safety management system and regular training to enhance employee safety awareness[171]. - Employee rights are protected through compliance with labor laws, including social insurance for various risks[169]. - The company emphasizes the protection of shareholder and creditor rights, ensuring reasonable returns and maintaining a stable financial condition[169].

Financial Performance - The company's operating revenue for 2021 was ¥727,554,227.68, representing a 46.14% increase compared to ¥513,173,338.83 in 2020[25]. - The net profit attributable to shareholders for 2021 was ¥20,040,477.05, a significant increase of 147.03% from ¥8,112,699.81 in 2020[25]. - The net profit after deducting non-recurring gains and losses was ¥15,860,388.50, up 294.71% from ¥4,018,253.08 in 2020[25]. - The net cash flow from operating activities reached ¥36,170,543.90, a dramatic increase of 2,711.89% compared to ¥1,286,341.55 in 2020[25]. - The total assets at the end of 2021 were ¥2,412,407,582.07, reflecting a 38.91% increase from ¥1,736,707,146.53 at the end of 2020[25]. - The company reported a basic earnings per share of ¥0.1189 for 2021, which is a 134.52% increase from ¥0.0507 in 2020[25]. - The weighted average return on equity for 2021 was 1.60%, up from 0.71% in 2020[25]. - The company achieved a total operating revenue of ¥727,554,227.68 in 2021, representing a year-on-year increase of 46.46% compared to ¥513,173,338.83 in 2020[62]. - The automotive parts segment generated revenue of ¥629,762,767.23, accounting for 83.97% of total revenue, with a year-on-year growth of 29.66%[62]. - The aerospace parts segment contributed ¥96,162,197.05, marking a new revenue stream for the company[62]. Market Position and Strategy - The company reported a significant market position and strong competitiveness in the automotive parts manufacturing sector, but faces risks from macroeconomic conditions and industry developments[6]. - The company aims to enhance its core competitiveness by entering the new energy vehicle parts sector and increasing investment in new product research and development[12]. - The company is focusing on the dual strategy of automotive parts and military/civil aviation components to enhance core competitiveness amid the shift towards electric vehicles[117]. - The company is actively pursuing new strategies for market expansion and technological advancement to drive future growth[132]. - The company is exploring potential mergers and acquisitions to strengthen its market position[182]. - The company is considering strategic acquisitions to bolster its technology portfolio, with a budget of $200 million allocated for potential deals[185]. Research and Development - The company has invested in key technologies for automotive engine components, including crankshaft torsional vibration dampers and camshafts, to maintain its competitive edge in precision manufacturing[10]. - The company has initiated research and development for hydrogen fuel cell systems, leveraging its technological and talent advantages[56]. - The company is investing in the development of high-temperature alloy casting production lines, which are expected to significantly enhance performance and efficiency compared to older processes[56]. - R&D investment amounted to ¥35,834,490.12, representing 4.77% of operating revenue[74]. - The company plans to increase R&D investment in advanced technologies, including hydrogen fuel cell systems and high-temperature alloy casting processes[111]. - The company has identified significant internal control deficiencies during the reporting period[162]. Cost Management and Risks - Raw material costs, including round steel and waste steel, constitute a high proportion of the main business costs, and fluctuations in these prices could impact production costs and operating performance[9]. - The company faced cost pressures due to rising prices of raw materials and disruptions in the automotive chip supply chain caused by the COVID-19 pandemic[34]. - The company anticipates challenges due to rising raw material costs and will implement cost control measures to enhance efficiency[111]. - The company actively manages raw material inventory and supplier relationships to mitigate the impact of price volatility[114]. Acquisitions and Partnerships - The company acquired Chengdu Xinsanhe Electromechanical New Technology Development Co., enhancing its military and civil aviation parts business and driving rapid growth in orders[45]. - The company completed the acquisition and integration of Chengdu Xinsanhe Electromechanical New Technology Development Co., Ltd., which generated revenue of ¥71,094,554.94 and a net profit of ¥15,133,322.96 during the reporting period[67]. - The company has established strong partnerships with major automotive manufacturers, including GAC Toyota, Ideal Auto, and BYD, for its turbocharger products[43]. Governance and Compliance - The company has established a robust governance structure, adhering to legal requirements and ensuring fair treatment of all shareholders[123]. - The company maintains independent financial operations, including separate bank accounts and a dedicated finance department, ensuring compliance with tax obligations[126]. - The company has committed to ensuring that all raised funds are utilized effectively to support its core business operations and strategic initiatives[102]. - The company has established strict guidelines for the management of shares during the lock-up period[178]. Future Outlook - The company anticipates that the Chinese automotive market will continue to grow, with sales expected to reach 27.5 million units in 2022, a 5.40% increase[34]. - The forecast for 2022 indicates that new energy vehicle sales in China are expected to reach 5 million units, a year-on-year increase of 47%[36]. - The company plans to expand the production capacity of turbochargers and related components, indicating a significant increase in working capital needs[155]. - The company is committed to sustainability, aiming to reduce carbon emissions by 30% by 2025[179]. - The company has a positive outlook for 2022, projecting a revenue increase of 20%[182]. - Future outlook indicates a projected revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion strategies[183].

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 350,349,608.10, representing a 65.36% increase compared to CNY 211,875,957.53 in the same period last year[23]. - The net profit attributable to shareholders of the listed company reached CNY 32,054,931.52, a significant increase of 923.42% from CNY 3,132,146.81 in the previous year[23]. - The net profit after deducting non-recurring gains and losses was CNY 31,706,752.26, up 1,259.87% from CNY 2,331,596.31 year-on-year[23]. - The basic earnings per share increased to CNY 0.1935, reflecting an 867.50% rise compared to CNY 0.0200 in the same period last year[23]. - The total revenue for the reporting period reached ¥350,349,608.10, representing a 65.36% increase compared to ¥211,875,957.53 in the previous year, driven by the consolidation of Xin Sanhe and growth in the automotive parts business[46]. - The total profit for the first half of 2021 was CNY 32,670,943.31, compared to CNY 4,063,326.78 in the first half of 2020[171]. - The total comprehensive income for the first half of 2021 was CNY 34,795,068.56, compared to CNY 2,802,434.96 in the first half of 2020[173]. Assets and Liabilities - The total assets of the company at the end of the reporting period were CNY 2,117,756,143.05, a 21.94% increase from CNY 1,736,707,146.53 at the end of the previous year[23]. - The total liabilities of the company were CNY 766,082,129.06, compared to CNY 596,628,211.67 at the end of 2020, indicating an increase of approximately 28.4%[161]. - The company's equity increased to CNY 1,351,673,013.99 from CNY 1,140,078,934.86, showing a growth of about 18.6%[161]. - The total equity attributable to shareholders reached CNY 1,096,499,359.76, compared to CNY 929,447,489.94 at the end of 2020, reflecting an increase of about 16.0%[166]. - The total liabilities at the end of the reporting period are CNY 743,244,033.97, indicating a manageable debt level relative to equity[185]. Cash Flow - The net cash flow from operating activities was negative at CNY -52,512,818.04, a decline of 309.49% compared to CNY 25,067,558.66 in the same period last year[23]. - The company reported a net cash outflow from operating activities of CNY -52,512,818.04, compared to a net inflow of CNY 25,067,558.66 in the first half of 2020[176]. - The net cash flow from financing activities was 241,275,482.04 CNY, a significant increase from 26,541,607.90 CNY in the previous period, indicating strong financing support[177]. - The total cash inflow from financing activities was 342,897,343.98 CNY, significantly higher than 64,341,166.67 CNY in the previous period, demonstrating robust financing efforts[180]. Investments and Acquisitions - The company completed the acquisition of Chengdu Xinsan Machinery and Electronics Technology Development, investing CNY 15,645 million for a 74.5% stake[58]. - The company has invested CNY 43,902,696.72 in various projects during the reporting period, with a total cumulative investment of CNY 414,100,341.53[60]. - The company has made significant investments in the construction of production lines for aviation components, indicating a strategic focus on market expansion[46]. - The company acquired Chengdu Xinsanhe Electromechanical New Technology Development Co., Ltd. with an investment of ¥12,854,299.17, positively impacting overall production and performance[85]. Research and Development - Research and development expenses rose by 34.27% to ¥17,272,311.38, reflecting increased investment in projects such as turbochargers and turbine casings[46]. - The company has developed hundreds of specifications for core products, including camshaft assemblies and turbochargers, with a strong focus on R&D and proprietary technology[39]. - The company is committed to continuous investment in new technologies and product research and development to drive innovation and market application[90]. Market and Industry Context - In the first half of 2021, China's automotive industry saw production and sales of 12.57 million and 12.89 million vehicles, respectively, representing year-on-year growth of 24.20% and 25.60%[33]. - The company's automotive division faced challenges due to a significant increase in raw material prices and chip shortages, impacting sales volume and profitability[33]. - The company recognizes the risk of the automotive industry transformation towards electric vehicles and is focusing on enhancing its core competitiveness in both automotive and aerospace components[91]. Governance and Compliance - The company has not engaged in any derivative investments or entrusted loans during the reporting period, maintaining a conservative financial strategy[81]. - There were no significant lawsuits or arbitration matters during the reporting period, indicating a stable legal environment for the company[116]. - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period[149]. Shareholder Information - As of the end of the reporting period, the total number of ordinary shareholders was 10,278, with major shareholders holding significant stakes: Wei Xiaolin at 38.55% and Yu Yinglian at 21.93%[145]. - The company issued 11,399,371 new shares at a price of 12.72 RMB, raising a total of approximately 145 million RMB[143]. - The proportion of limited sale shares decreased from 57.58% to 30.65%, while unrestricted shares increased from 42.42% to 69.35%[136].

Financial Performance - The company's operating revenue for Q1 2021 was ¥147,970,639.97, representing a 148.41% increase compared to ¥59,567,472.65 in the same period last year[8] - Net profit attributable to shareholders was ¥16,480,486.44, a significant recovery from a loss of ¥3,495,566.26 in the previous year[8] - The net cash flow from operating activities was ¥11,590,920.27, improving from a negative cash flow of ¥9,825,716.33 in the same period last year[8] - Basic and diluted earnings per share were both ¥0.1036, compared to a loss of ¥0.0200 per share in the previous year[8] - Total operating revenue for Q1 2021 reached CNY 147,970,639.97, a significant increase from CNY 59,567,472.65 in Q1 2020, representing a growth of approximately 148%[45] - Net profit for Q1 2021 was CNY 16,210,878.47, a turnaround from a net loss of CNY 3,645,696.93 in Q1 2020[46] - The total comprehensive income for Q1 2021 was CNY 16,210,878.47, compared to a loss of CNY 3,645,696.93 in the same quarter last year[47] - The company achieved an operating profit of CNY 14,321,026.75, compared to an operating loss of CNY 4,105,574.63 in Q1 2020, reflecting improved operational efficiency[50] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,896,496,868.29, an increase of 9.20% from ¥1,736,707,146.53 at the end of the previous year[8] - The company's total assets as of March 31, 2021, amounted to CNY 1,595,152,515.73, up from CNY 1,421,869,628.66 at the end of 2020, reflecting an increase of approximately 12.2%[42] - The company's total liabilities as of March 31, 2021, were CNY 505,188,715.10, compared to CNY 492,422,138.72 at the end of 2020, showing a slight increase of around 2.5%[43] - The total current liabilities decreased slightly to CNY 566,728,309.67 from CNY 575,592,635.57, indicating a reduction of about 1.5%[39] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 13,598[13] - Major shareholder Wei Xiaolin holds 34.17% of the shares, with 54,672,845 shares, of which 41,004,634 are pledged[13] - Net assets attributable to shareholders increased by 14.29% to ¥1,297,507,332.14 from ¥1,135,311,344.14 at the end of the previous year[8] - The equity attributable to shareholders of the parent company rose to CNY 1,297,507,332.14 as of March 31, 2021, from CNY 1,135,311,344.14 at the end of 2020, an increase of approximately 14.3%[42] Cash Flow and Financing - The company's cash and cash equivalents increased by 122.42% compared to the beginning of the period, primarily due to the issuance of shares to a specific individual, raising a total of approximately ¥144.99 million[19] - The total cash inflow from financing activities was CNY 224,207,771.10, significantly higher than CNY 56,634,409.99 in the same period last year, indicating strong investor confidence[55] - Cash inflow from financing activities reached $210.33 million, significantly up from $32.55 million in the prior period[58] - The net cash flow from financing activities was $149.33 million, a substantial increase from $462,994.48 in the previous period[58] - The company utilized CNY 10,000.00 million of idle raised funds to temporarily supplement working capital, with a repayment period not exceeding 12 months[31] - As of March 31, 2021, the remaining unused raised funds amounted to CNY 6,860.00 million[31] Research and Development - The company is committed to continuous investment in R&D to enhance its innovation capabilities and maintain competitive advantages in the automotive parts sector[25] - Research and development expenses for Q1 2021 were CNY 5,359,802.84, slightly up from CNY 5,209,842.86 in Q1 2020, indicating a focus on innovation[46] - The company plans to shift its strategic R&D focus towards military and aerospace sectors due to market influences on traditional automotive products[30] Market Strategy and Risks - The company is focusing on the development of military and civil aviation components as a key strategic direction, with product deliveries to customers beginning during the reporting period[21] - The company is pursuing a strategy of combining organic growth with mergers and acquisitions to accelerate the development of its military and civil aviation components business[21] - The company faces market risks due to macroeconomic conditions and industry developments, which could significantly impact operations if not effectively managed[22] - The company is addressing the risk of potential shifts in the automotive industry towards electric vehicles by strengthening its product development in military and civil aviation components[26] Investment Projects - The engine belt wheel production line technical transformation project has a committed investment of $16.2 million, with 100% of the investment completed[29] - The engine connecting rod production line technical transformation project has a committed investment of $10.1 million, with 100% of the investment completed[29] - The engine camshaft precision machining expansion project has a committed investment of $9.6 million, with 100.24% of the investment completed[29] - The R&D center construction project has a committed investment of $7.7 million, with only 19.11% of the investment completed[29] - The total committed investment for all projects is $61.38 million, with $42.64 million invested to date[30] - The company terminated the engine connecting rod production line project due to changes in market demand and will use the remaining raised funds for working capital[30] - The company has adjusted the implementation location of the engine belt wheel production line project to improve operational efficiency[30] Compliance and Audit - The company has no reported violations regarding external guarantees during the reporting period[33] - The company has fulfilled its disclosure obligations regarding the use and progress of raised funds, with no reported management violations[31] - The company has not undergone an audit for the first quarter report[62]

成都西菱动力科技股份有限公司 2021 年第三季度报告 成都西菱动力科技股份有限公司 2021 年第三季度报告 （更新后） 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: 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。 3.第三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 | 本报告期比上年同 | 年初至报告期末 | 年初至报告期末 | | --- | --- | --- | --- | --- | | | | 期增减 | | 比上年同期增减 | | 营业收入（元） | 172,387,007.81 | 32.51% | 522,736,615.91 | 52.86% | | 归属于上市公司股东的净利润（元） | -1, ...

Financial Performance - The company reported a revenue of CNY 172,387,007.81 for the third quarter, representing a year-on-year increase of 32.51%[2] - The net profit attributable to shareholders was CNY -1,617,325.78, a decline of 130.41% compared to the same period last year[2] - The net profit after deducting non-recurring gains and losses was CNY -1,966,607.12, down 142.89% year-on-year[2] - Total revenue for the third quarter reached CNY 522.74 million, a 53% increase from CNY 341.97 million in the same period last year[20] - Operating profit for the quarter was CNY 28.16 million, compared to CNY 11.71 million in the previous year, reflecting a significant growth[21] - Net profit for the quarter was CNY 33.24 million, up from CNY 8.03 million year-over-year, indicating a strong performance[21] - Total comprehensive income attributable to the parent company reached CNY 30,543,410.48, compared to CNY 8,451,045.56 in the same period last year, indicating significant growth[22] - Basic earnings per share increased to CNY 0.1822 from CNY 0.0500 year-on-year, reflecting improved profitability[22] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 2,219,738,693.61, an increase of 27.81% from the end of the previous year[2] - Current assets totaled CNY 775.04 million, a 28% increase from CNY 604.79 million in the previous year[16] - Inventory levels rose to CNY 317.14 million, significantly up from CNY 161.02 million, indicating increased production or stockpiling[16] - Total liabilities increased to CNY 866.16 million, compared to CNY 596.63 million in the previous year, reflecting higher borrowing[18] - The company’s equity attributable to shareholders increased by 16.01% to CNY 1,317,094,923.51 compared to the end of the previous year[2] - The company’s equity attributable to shareholders increased to CNY 1.32 billion, up from CNY 1.14 billion, indicating strong retained earnings and capital growth[18] Cash Flow - Operating cash flow for the year-to-date was CNY -35,569,885.61, a decrease of 291.06% year-on-year[2] - Operating cash inflow from sales of goods and services was CNY 457,518,781.21, up from CNY 372,320,777.75 in the previous year, showing a growth of approximately 22.8%[23] - Net cash flow from operating activities turned negative at CNY -35,569,885.61, compared to a positive CNY 18,617,254.06 in the same period last year[24] - Cash flow from investing activities showed a net outflow of CNY -325,394,848.42, worsening from CNY -130,796,373.13 year-on-year[24] - Cash flow from financing activities generated a net inflow of CNY 399,298,223.34, significantly higher than CNY 49,185,960.02 in the previous year[24] - The ending balance of cash and cash equivalents was CNY 73,589,377.38, slightly down from CNY 73,604,951.07 year-on-year[24] - The company received CNY 143,304,010.12 from investment contributions, a substantial increase from CNY 5,938,895.00 in the previous year[24] Shareholder Information - The total number of common shareholders is 1,343,001, with the top 10 shareholders holding significant stakes[10] - The largest shareholder, Wei, holds 38.55% of shares, amounting to 662,216 shares[10] - The second-largest shareholder, Yu, holds 21.93%, equating to 375,930 shares[10] - The company has a total of 92,130,000 shares locked up by management, with a total of 6,920,033 shares released this period[13] - The total number of shares held by the top 10 shareholders is 92,130,000, representing a significant portion of the company's equity[13] - The company reported a total of 1,677,400 shares held by various investment funds, indicating strong institutional interest[10] Expenses - Sales expenses decreased by 50.41% year-on-year, attributed to the new revenue recognition standards[6] - Management expenses increased by 103.27% due to stock incentive costs and increased management expenses for new business lines[6] - Research and development expenses for the quarter were CNY 17.06 million, compared to CNY 15.07 million in the previous year, highlighting ongoing investment in innovation[21] Future Plans and Developments - The company plans to expand its turbocharger and aerospace components business, leading to increased capital expenditures and working capital needs[7] - The report indicates that there are no new strategies or significant market expansions mentioned for the upcoming period[15] - The company has not disclosed any new product developments or technological advancements in this quarter[15] - There are no mergers or acquisitions reported in the current financial period[15] Compliance and Audit - The company has not undergone an audit for the third quarter report, which may affect the reliability of the financial data presented[26] - The company did not apply the new leasing standards for the current reporting period, indicating a potential area for future compliance[25]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 350,349,608.10, representing a 65.36% increase compared to CNY 211,875,957.53 in the same period last year[23]. - The net profit attributable to shareholders of the listed company reached CNY 32,160,736.26, a significant increase of 926.80% from CNY 3,132,146.81 in the previous year[23]. - The net profit after deducting non-recurring gains and losses was CNY 31,829,722.95, up 1,265.15% from CNY 2,331,596.31 year-on-year[23]. - The basic earnings per share increased to CNY 0.19, an 850.00% rise compared to CNY 0.02 in the same period last year[23]. - The company reported a significant increase in total revenue, reaching $3.7 billion, representing a growth of 27% year-over-year[74]. - The company reported a total revenue of 6.15 billion, with a year-on-year increase of 7.1%[75]. - The company reported a net profit of 1,113,831.00 yuan for the current period, indicating a positive performance trend[196]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,118,777,124.26, reflecting a 22.00% increase from CNY 1,736,707,146.53 at the end of the previous year[23]. - The total liabilities increased to RMB 766,997,305.53 as of June 30, 2021, from RMB 596,628,211.67 at the end of 2020, reflecting a rise of approximately 28%[168]. - The company's equity increased to RMB 1,351,779,818.73 as of June 30, 2021, compared to RMB 1,140,078,934.86 at the end of 2020, indicating a growth of approximately 18.6%[168]. - The total equity attributable to shareholders reached CNY 1,096,690,164.50, up from CNY 929,447,489.94 at the end of 2020, reflecting a growth of about 18%[173]. Cash Flow - The company reported a net cash flow from operating activities of CNY -52,512,818.04, a decrease of 309.49% compared to CNY 25,067,558.66 in the same period last year[23]. - The company experienced a net cash flow from operating activities of -39,825,510.17 CNY, worsening from -5,016,058.45 CNY in the same period last year[186]. - The cash inflow from operating activities totaled CNY 271,816,385.87, compared to CNY 264,347,517.20 in the same period last year[183]. - The total cash increase for the period was 31,935,646.01 CNY, contrasting with a decrease of 29,714,800.09 CNY in the previous period[184]. Market and Industry Trends - In the first half of 2021, the automotive industry in China saw a significant year-on-year increase in production and sales, with production reaching 12.569 million units and sales at 12.891 million units, representing growth of 24.20% and 25.60% respectively[33]. - The company’s automotive division faced challenges due to a significant rise in raw material prices and chip shortages, impacting both sales volume and profitability[33]. - The company is expanding its market presence in Asia, targeting a 30% increase in market share by the end of the year[74]. - The company plans to expand its market presence by entering two new provinces by the end of 2021[76]. Research and Development - The company has invested in expanding its production lines for aviation components, including the construction and expansion of production lines for aviation system parts and structural components[35]. - The company plans to enhance research and development in turbocharger technology, with an investment increase of 27.2%[47]. - The company’s research and development team has developed hundreds of specifications for core products, securing a series of proprietary technologies[39]. - Research and development investments have increased by 10%, focusing on innovative technologies and product enhancements[74]. Strategic Acquisitions and Partnerships - The company completed the acquisition of Chengdu Xinsanhe Electromechanical New Technology Development Co., enhancing its position in the military and civil aviation sectors, with a rapid increase in orders for the acquired business[35]. - The company has established strong partnerships with major automotive manufacturers, including Great Wall Motors, GAC Toyota, and BYD, ensuring a stable sales revenue stream[32]. - A strategic partnership was announced with a leading automotive manufacturer to enhance technology sharing and product innovation[76]. Cost Management and Efficiency - Cost control measures include improved design precision, technological advancements, and lean production, leading to a competitive pricing advantage against foreign manufacturers[43]. - The gross profit margin improved to 40%, up from 35% in the previous year, indicating better cost management[74]. - Operating expenses rose to 1.3 billion, with a year-over-year increase of 26.4%[47]. - The company reported a significant improvement in production efficiency, achieving a 15% reduction in manufacturing costs[76]. Future Outlook - The company has provided a positive outlook for the next quarter, projecting a revenue growth of 15% to 20%[74]. - Future outlook indicates a projected revenue growth of 10% for the next fiscal year, driven by new product launches and market expansion strategies[75]. - The company plans to continue expanding its production capacity in automotive parts, with significant investments in new production lines[62]. - The company aims to achieve carbon neutrality by 2025, aligning with global sustainability trends[198]. Governance and Compliance - The semi-annual financial report was not audited[164]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[104]. - The company emphasizes safety management and product quality control to ensure compliance with production standards[111].

Financial Performance - The net profit attributable to shareholders for 2020 was 8.1127 million yuan, a decrease of 61.80% year-on-year[5]. - The company's operating revenue for 2020 was ¥513,173,338.83, a decrease of 2.25% compared to ¥525,007,098.15 in 2019[26]. - The net cash flow from operating activities was ¥1,286,341.55, a significant decline of 96.62% from ¥38,006,918.13 in 2019[26]. - The company reported a basic earnings per share of ¥0.0507 for 2020, down 61.79% from ¥0.1327 in 2019[26]. - The weighted average return on net assets was 0.71% in 2020, down from 1.87% in 2019[26]. - The company reported a diluted earnings per share of ¥0.0473 for 2020[27]. - The company’s cash and cash equivalents decreased by 38.49% compared to the beginning of the period, primarily due to significant long-term investments in project construction[41]. - The company’s total cash and cash equivalents decreased by 224.85%, resulting in a net decrease of ¥101.20 million[73]. - The company reported a total distributable profit of CNY 136,822,131.18 for the year 2020, with no cash dividends or stock bonuses distributed[114]. - The cash dividend total for 2020 was CNY 0.00, representing 0.00% of the total profit distribution[118]. Market Overview - In 2020, China's automobile production and sales reached 25.225 million and 25.311 million units, down 2.00% and 1.90% year-on-year, respectively[5]. - The production and sales of new energy vehicles in 2020 were 1.366 million units, representing a year-on-year growth of 7.50% and 10.90%[5]. - The 2021 forecast predicts that China's automobile sales may reach 26 million units, reflecting a year-on-year growth of 4%[100]. Strategic Initiatives - The company plans to promote the simultaneous development of automotive parts and military/civil aviation components, combining organic growth with external acquisitions[5]. - The company is focusing on the research, design, manufacturing, and sales of automotive engine components, with military and civil aviation components as key development areas[36]. - The company is actively expanding its military and civil aviation parts business, with the first phase of production line completed and a strategic acquisition underway[40]. - The company aims to enhance its profitability in the automotive parts business by focusing on high-end customers and expanding production of turbochargers and other new products[103]. - The company plans to accelerate the construction of production lines for military and civil aviation components, aiming to increase its market share in this sector[104]. Research and Development - The company emphasizes continuous investment in R&D to enhance innovation and maintain competitive advantages in the market[11]. - Research and development expenses amounted to ¥30.67 million, representing 5.98% of operating revenue, an increase from 4.61% in the previous year[71]. - The company plans to shift its strategic R&D focus towards military and aerospace sectors[92]. Risk Management - The company acknowledges the risk of market demand fluctuations due to macroeconomic conditions and industry trends, and plans to adjust strategies accordingly[6]. - The company recognizes the risk of raw material price volatility impacting production costs and is focused on optimizing supplier relationships and inventory management[107]. - The company is aware of the potential shift towards new energy vehicles and is strategizing to adapt its product offerings accordingly to mitigate risks associated with this industry transformation[110]. - The company faces risks related to market demand fluctuations influenced by macroeconomic conditions and government policies, which could impact its operations[105]. Corporate Governance - The company did not propose any cash dividend distribution plan for 2020 despite having a positive profit available for distribution to ordinary shareholders[119]. - The company’s independent directors expressed clear agreement with the decision not to distribute dividends for the 2020 fiscal year[115]. - The company has committed to not transferring or entrusting the management of its shares for 36 months from the date of listing on the Shenzhen Stock Exchange[121]. - The company has confirmed that there were no violations of the commitments made by its directors during the reporting period[122]. - The company has a clear policy on share transfer limitations for departing directors, ensuring a six-month restriction post-resignation[122]. Shareholder Information - The total number of shares outstanding is 160,000,000, with 42.42% being unrestricted shares[171]. - The major shareholder, Wei Xiaolin, holds 54,672,845 shares, representing a significant portion of the company's equity[188]. - The number of shareholders increased from 13,598 to 14,878 during the reporting period[177]. Operational Efficiency - The company maintains a competitive position in the automotive parts manufacturing sector, with no significant adverse changes in core competitiveness during the reporting period[5]. - The company maintains a cost control advantage through precision design, technological advancements, and lean production practices, ensuring competitive pricing against foreign manufacturers[49]. - The production capacity utilization rates for key components were 77.03% for torsional dampers, 46.36% for connecting rods, and 62.59% for camshafts[59]. Subsidiary Performance - The company reported a net profit of RMB 11.98 million from its subsidiary Chengdu Xiling Power Components Co., Ltd[98]. - The company’s subsidiary Chengdu Xiling New Energy Technology Co., Ltd reported a net profit of RMB 54,179.14[98]. - The company’s subsidiary Chengdu Xiling Aviation Technology Co., Ltd achieved a net profit of RMB 237,926.24[98]. - The company’s subsidiary Sichuan Jiayi Jia Technology Co., Ltd reported a net loss of RMB 1,745,580.63[98]. Compliance and Legal Matters - The company has no significant litigation or arbitration matters during the reporting period[136]. - The company has no penalties or rectification situations during the reporting period[137]. - The company has not faced any delisting situations after the annual report disclosure[135]. - The company has not undergone any bankruptcy reorganization during the reporting period[135].

Financial Performance - The net profit attributable to shareholders for 2020 was 8.1127 million yuan, a decrease of 61.80% year-on-year[6]. - The company's operating revenue for 2020 was ¥513,173,338.83, a decrease of 2.25% compared to ¥525,007,098.15 in 2019[26]. - The net profit attributable to shareholders for 2020 was ¥8,112,699.81, down 61.80% from ¥21,236,032.44 in 2019[26]. - The net cash flow from operating activities was ¥1,286,341.55, a significant decline of 96.62% compared to ¥38,006,918.13 in 2019[26]. - The basic earnings per share for 2020 was ¥0.0507, a decrease of 61.79% from ¥0.1327 in 2019[26]. - The company reported a weighted average return on equity of 0.71% for 2020, down from 1.87% in 2019[26]. - The profit distribution plan approved by the board includes no cash dividends or stock bonuses for shareholders[14]. - The company’s domestic revenue was ¥504,907,653.88, down 3.11% from the previous year, while international revenue increased by 113.06% to ¥8,265,684.95[56]. Market and Industry Trends - In 2020, China's automobile production and sales reached 25.225 million and 25.311 million units, down 2.00% and 1.90% year-on-year, respectively[6]. - The production and sales of new energy vehicles in 2020 were 1.366 million units, representing a year-on-year growth of 7.50% and 10.90%[6]. - The automotive parts industry is expected to see a 4% year-on-year increase in sales, reaching 26 million vehicles in 2021, according to the China Automotive Industry Association[95]. - The military and civil aviation parts industry is projected to grow due to increased defense spending and modernization of military equipment, providing significant opportunities for the company[97]. Strategic Development - The company plans to promote the simultaneous development of automotive parts and military/civil aviation components, combining organic growth with external acquisitions[6]. - The company aims to strengthen its core competitiveness by accelerating the layout of military and civil aviation components and enhancing new product development[14]. - The company plans to continue its market expansion and product development strategies to improve future performance[26]. - The company is focusing on expanding market share while developing new customers and markets in the automotive parts sector[51]. - The company plans to enhance its market development for mid-to-high-end customers, focusing on maintaining existing clients and exploring potential opportunities[98]. - The company will adopt a combination of internal growth and external mergers and acquisitions to drive rapid development in military and civil aviation parts business[98]. Research and Development - The company emphasizes continuous investment in R&D to enhance its innovation capabilities and maintain competitive advantages in the automotive parts sector[12]. - The company’s R&D expenses for 2020 were ¥22,438,868.40, a decrease of 7.38% from ¥24,227,581.11 in 2019[65]. - The company’s R&D investment in 2020 amounted to ¥30,674,894.99, representing 5.98% of its operating revenue, an increase from 4.61% in 2019[66]. - The number of R&D personnel increased to 217 in 2020, accounting for 10.97% of the total workforce, up from 9.60% in 2018[66]. - The company has core technologies in key automotive engine components, and it will continue to invest in R&D to maintain its competitive edge in technology and product innovation[104]. Financial Management - The company maintains a tax rate of 15% due to its status as a high-tech enterprise; a change in tax policy could increase the tax rate to 25%[10]. - Cash and cash equivalents decreased by 38.49% compared to the beginning of the period, mainly due to significant long-term investments in projects[41]. - The total investment during the reporting period was ¥296,338,501.09, reflecting a year-on-year increase of 21.71%[75]. - The company has a remaining balance of CNY 36,550 in the special account for raised funds[84]. - The company has utilized CNY 23.16 million for working capital, achieving 100% of the planned investment for this purpose[86]. Operational Challenges - The decrease in profits was primarily due to the impact of COVID-19, significant investment in military and civil aviation components, and a decline in product prices[51]. - The company recognizes the risk of market demand fluctuations due to macroeconomic conditions and plans to adjust its operational strategies accordingly[8]. - The company recognizes the risk of the automotive industry transformation towards electric vehicles and is balancing its business strategy between traditional automotive parts and military/civil aviation components[105]. Corporate Governance - The company has fulfilled all commitments made by actual controllers, shareholders, and related parties during the reporting period[117]. - The company has a commitment to not transfer or entrust the management of shares held prior to the public offering for 36 months from the date of listing[118]. - The company has ensured compliance with regulations regarding the disclosure of raised funds, confirming no violations in fund management[88]. - The company has not engaged in any related party transactions during the reporting period[135]. Employee and Management Structure - The total number of employees in the company is 1,979, with 1,156 in the parent company and 796 in major subsidiaries[198]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 2.82 million[196]. - The company has independent directors who receive a pre-tax remuneration of CNY 60,000 each per year[195]. - The company implements a piece-rate pay system for production staff, ensuring that wages meet or exceed the legal minimum wage[199].

Financial Performance - The company's operating revenue for Q1 2021 was CNY 147,970,639.97, representing a 148.41% increase compared to CNY 59,567,472.65 in the same period last year[8]. - The net profit attributable to shareholders was CNY 16,579,743.38, a significant recovery from a loss of CNY 3,495,566.26 in the previous year[8]. - Revenue increased by 148.41% year-on-year, primarily due to the recovery of the automotive parts business and sales from military and aviation components[20]. - The company reported a net profit of CNY 16,310,135.41 for Q1 2021, a significant improvement compared to a net loss of CNY 3,645,696.93 in the same period last year, marking a turnaround of over 500%[51]. - Operating profit for the quarter was CNY 14,420,283.69, compared to an operating loss of CNY 4,105,574.63 in the previous year[54]. - The total comprehensive income for the period was CNY 16,310,135.41, compared to a loss of CNY 3,645,696.93 in the same quarter last year[51]. Cash Flow - The net cash flow from operating activities was CNY 11,590,920.27, improving from a negative cash flow of CNY -9,825,716.33 in the same period last year[8]. - Net cash flow from operating activities turned positive year-on-year, driven by increased revenue[20]. - The company achieved a net cash flow from operating activities of CNY 11,590,920.27, a recovery from a negative cash flow of CNY 9,825,716.33 in Q1 2020[58]. - The net cash flow from financing activities increased by 1,680.43% year-on-year, primarily due to funds raised from issuing shares to specific investors[20]. - The net cash flow from financing activities was CNY 125,912,657.07, a substantial increase from CNY 7,072,054.47 in Q1 2020, indicating improved capital management[59]. - Cash and cash equivalents at the end of the period rose to $155,786,754.23 from $23,947,538.55, marking a significant increase[62]. Assets and Liabilities - Total assets increased by 9.18% to CNY 1,896,210,947.25 from CNY 1,736,707,146.53 at the end of the previous year[8]. - The total current assets reached RMB 711.53 million, up from RMB 604.79 million at the end of 2020, indicating an increase of 17.6%[41]. - The total liabilities decreased slightly to RMB 593.99 million from RMB 596.63 million, a reduction of 0.3%[43]. - The company's equity increased to RMB 1.30 billion, up from RMB 1.27 billion, showing a growth of 2.4%[43]. Investment and R&D - The company is committed to continuous investment in R&D to enhance its core competitiveness and adapt to market demands[28]. - Research and development expenses for Q1 2021 were CNY 5,359,802.84, slightly up from CNY 5,209,842.86 in Q1 2020, indicating continued investment in innovation[50]. - The company plans to shift its strategic R&D focus towards military and aerospace sectors due to market influences on traditional automotive products[33]. - The engine belt pulley production line technology transformation project had an investment of approximately $7.84 million, achieving 100% of its planned investment[32]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 13,598[13]. - Basic and diluted earnings per share were both CNY 0.1036, a recovery from a loss of CNY 0.0200 per share in Q1 2020[51]. Market and Strategic Focus - The company is focusing on the development of military and civil aviation components as a key strategic direction, with significant revenue growth in this area during the reporting period[21]. - The company is pursuing a strategy of combining organic growth with mergers and acquisitions to rapidly develop its military and civil aviation components business[23]. - The company faces market risks due to macroeconomic conditions and industry developments, which could significantly impact operations if not effectively managed[24]. Compliance and Governance - The company has no violations regarding external guarantees during the reporting period[35]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[36]. - The company has complied with all regulations regarding the disclosure of raised funds usage and management, with no violations reported[41]. - The first quarter report was not audited, which may affect the reliability of the financial data presented[63].