南京越博动力系统股份有限公司 2022 年第三季度报告 证券代码：300742 证券简称：越博动力 公告编号：2023-063 南京越博动力系统股份有限公司 2022 年第三季度报告（更正后） 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 1 南京越博动力系统股份有限公司 2022 年第三季度报告 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 | 本报告期比上年同期 | 年初至报告期末 | 年初至报告期末比上 | | --- | --- | --- | --- | --- | | | | 增减 | | 年同期增减 | | 营业收入（元） | 27,156,084.77 | ...

Financial Performance - The company's revenue for Q3 2022 was ¥27,156,084.77, a decrease of 64.54% compared to the same period last year[4] - The net profit attributable to shareholders was -¥39,655,064.40, representing a decline of 8,194.85% year-on-year[4] - The net profit after deducting non-recurring gains and losses was -¥39,889,565.64, down 6,888.63% from the previous year[4] - The company experienced a 20.59% decline in revenue for the first nine months of 2022, totaling ¥225,987,678.79 compared to ¥284,584,023.00 in the same period last year[9] - Total operating revenue for Q3 2022 was CNY 225,987,678.79, a decrease of 20.5% compared to CNY 284,584,023.00 in the same period last year[19] - Net loss for Q3 2022 was CNY 120,992,307.73, compared to a net profit of CNY 3,363,689.73 in Q3 2021[20] - The total comprehensive income for the third quarter was -120,992,307.73 CNY, compared to 3,363,689.73 CNY in the previous period[21] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,254,061,461.51, a decrease of 9.41% from the end of the previous year[4] - The company's total assets decreased to CNY 1,254,061,461.51 from CNY 1,384,361,727.30, reflecting a decline of 9.4%[17] - Current liabilities totaled CNY 1,186,423,992.37, slightly down from CNY 1,190,765,064.85 in the previous quarter[17] - The company's long-term liabilities decreased to CNY 49,725,829.92 from CNY 54,692,715.50, a reduction of 9.0%[17] - The equity attributable to shareholders of the parent company fell to CNY 12,403,163.34 from CNY 128,413,490.28, a decline of 90.3%[17] Earnings and Shares - The company's basic and diluted earnings per share were both -¥0.281, reflecting a decline of 4,506.56% year-on-year[4] - The basic and diluted earnings per share were both -0.821 CNY, down from 0.3328 CNY in the previous period[21] - The total number of common shareholders at the end of the reporting period is 15,793[11] - The largest shareholder, Li Zhanjiang, holds 35,838,277 shares, representing 25.36% of the total shares, with 28,858,707 shares pledged and 16,771,215 shares frozen[11] - The second-largest shareholder, Nanjing Yuebo Dynamic Investment Fund, holds 11,088,000 shares, representing 7.85% of the total shares[11] - The company has a total of 11,088,000 unrestricted shares held by Nanjing Yuebo Dynamic Investment Fund Partnership[11] Cash Flow - Cash flow from operating activities showed a net outflow of -¥35,608,904.44, an improvement of 63.14% compared to the previous period[9] - Cash inflow from operating activities was 170,471,252.95 CNY, a decrease of 37.6% from 273,803,205.86 CNY in the previous period[22] - Cash outflow from operating activities totaled 206,080,157.39 CNY, down from 370,398,856.75 CNY in the previous period[23] - The net cash flow from operating activities was -35,608,904.44 CNY, an improvement from -96,595,650.89 CNY in the previous period[23] - Cash flow from investing activities was -2,318,911.62 CNY, compared to 41,775,386.20 CNY in the previous period[23] - Cash flow from financing activities generated a net inflow of 37,549,034.84 CNY, up from 3,192,385.36 CNY in the previous period[23] - The ending balance of cash and cash equivalents was 3,199,421.54 CNY, down from 15,289,383.08 CNY in the previous period[23] - As of September 30, 2022, the company's cash and cash equivalents amount to ¥4,424,740.16, down from ¥20,402,383.68 at the beginning of the year[14] Expenses - Total operating costs increased to CNY 318,567,212.11, up 4.8% from CNY 304,092,623.76 year-on-year[19] - Research and development expenses increased by 17.11% to ¥18,966,242.24 for the first nine months of 2022[9] - Research and development expenses for Q3 2022 were CNY 18,966,242.24, an increase of 17.1% compared to CNY 16,195,834.82 in Q3 2021[20] - The company reported a significant increase in financial expenses, which rose by 35.48% to ¥37,800,275.73 due to increased discounting fees and interest from non-financial institutions[9] - Financial expenses rose to CNY 37,800,275.73, up 35.4% from CNY 27,899,991.12 year-on-year[20] - The company reported a significant increase in interest expenses, which reached CNY 33,901,493.22, compared to CNY 27,812,867.81 in the previous year[20] Strategic Initiatives - The company has signed a strategic cooperation agreement with the Wuhu Municipal Government and Chery New Energy Automobile Co., Ltd., focusing on production R&D, talent training, and market promotion[13] - The company is in discussions for a follow-up cooperation arrangement with the Wuhu government regarding a capital increase plan[13] - The company will continue to monitor the progress of the cooperation and fulfill its disclosure obligations[13] Audit and Reporting - The company did not undergo an audit for the third quarter report[24] - The report was released by the board of directors on October 26, 2022[25]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥198,831,594.02, a decrease of 4.41% compared to ¥207,998,741.66 in the same period last year[23]. - The net profit attributable to shareholders of the listed company was -¥76,355,262.54, representing a decline of 387.05% from a profit of ¥26,599,816.21 in the previous year[23]. - The basic and diluted earnings per share were both -¥0.54, a decrease of 384.21% from ¥0.19 in the previous year[23]. - The total assets at the end of the reporting period were ¥1,378,019,556.71, a slight decrease of 0.46% from ¥1,384,361,727.30 at the end of the previous year[23]. - The net assets attributable to shareholders of the listed company decreased by 59.46% to ¥52,058,227.74 from ¥128,413,490.28 at the end of the previous year[23]. - The gross margin for the first half of 2022 improved to 35%, up from 30% in the same period last year, reflecting better cost management and pricing strategies[46]. - The company reported a total investment of 5,564,000, a decrease of 51.83% compared to the previous year's investment of 11,550,000[78]. - The company reported a net profit of -41,610,299.03 yuan for the first half of 2022, compared to a net profit of 37,012,055.27 yuan in the same period of 2021, indicating a significant decline[188]. - The total comprehensive income for the period was -41,610,299.03 yuan, compared to 37,012,055.27 yuan in the previous year, reflecting a substantial decline[189]. Cash Flow and Liquidity - The net cash flow from operating activities improved to ¥2,828,550.54, a significant increase of 104.01% compared to -¥70,599,056.53 in the same period last year[23]. - The company reported a significant increase in credit impairment losses, amounting to CNY -20.45 million compared to CNY 2.16 million in the first half of 2021[184]. - The cash and cash equivalents at the end of the period amounted to 7,718,980.62 yuan, a decrease from 33,093,322.11 yuan at the end of the first half of 2021[192]. - The company experienced a cash outflow of 164,680,813.38 yuan in operating activities, compared to 275,386,369.73 yuan in the first half of 2021, showing a reduction of about 40.3%[190]. - The total cash inflow from financing activities amounted to 382,693,796.41 CNY, up from 196,300,000.00 CNY in the previous period, reflecting a 94.8% increase[194]. - The ending balance of cash and cash equivalents increased to 6,240,580.39 CNY from 222,424.57 CNY, marking a substantial rise[194]. Investment and R&D - The company has committed to invest a total of 42,113 million CNY in new energy vehicle powertrain system projects, with 19,758 million CNY already invested as of the report date[89]. - The company is committed to continuous R&D investment to maintain technological advancement in the rapidly evolving electric vehicle industry, particularly in integrated powertrain systems[109]. - Research and development expenses remained relatively stable at CNY 13.51 million, compared to CNY 13.24 million in the first half of 2021[184]. - The company has filed a total of 453 intellectual property applications, with 299 granted, including 190 invention patents and 226 utility models[43]. - The company has developed 32 new technologies in the field of electric vehicle drive systems, showcasing significant innovation in the sector[45]. Market Position and Strategy - The company specializes in the research, production, and sales of powertrain systems for electric vehicles, aiming to become a leader in the field[31]. - The company has successfully achieved mass application of its powertrain systems in pure electric buses and commercial vehicles, supported by extensive market validation[33]. - The company is focused on integrating advanced technologies into its products to improve efficiency and performance in electric vehicles[44]. - The company aims to expand its market presence by leveraging its innovative technologies in the electric vehicle sector[45]. - The company plans to enhance its management system and internal controls to mitigate operational management risks as its organizational structure becomes more complex[108]. Risks and Challenges - The company faces risks from changes in industry policies, particularly regarding the gradual reduction of subsidies for new energy vehicles, which may negatively affect production and operations[101]. - The company is exposed to market risks related to raw material supply and price fluctuations, which could adversely affect production and operations[102]. - The company anticipates increased competition in the new energy vehicle sector, which may lead to declining product prices as the industry matures[103]. - There is a risk that R&D investments may not yield expected technological results or market acceptance, which could hinder the conversion of R&D into competitive advantages[110]. Shareholder and Capital Structure - The total share capital increased from 78,498,570 shares to 141,297,426 shares after a capital reserve conversion of 62,798,856 shares, with a distribution ratio of 10 shares for 8 shares[157]. - The largest shareholder, Li Zhanjiang, holds 25.36% of the shares, totaling 35,838,277 shares, with 15,928,123 shares pledged[162]. - The company’s shareholding structure includes 21.27% of shares held by limited sale condition shareholders and 78.73% by unrestricted shareholders[156]. - The company has not engaged in any share buyback activities during the reporting period[158]. Compliance and Governance - There were no environmental penalties or violations reported during the period, indicating compliance with environmental regulations[122]. - The company received a clean audit report with an emphasis on certain matters, which does not affect the overall audit opinion[134]. - The company has not engaged in any equity incentive plans or employee stock ownership plans during the reporting period[119].

Revenue and Profitability - Revenue for Q1 2022 reached ¥133,548,591.56, an increase of 29.71% compared to ¥102,957,038.81 in the same period last year[2] - Net profit attributable to shareholders was -¥16,508,004.41, a decrease of 386.64% from ¥5,759,179.49 in the previous year[2] - The net profit for the first quarter of 2022 was -¥18,266,342.78, compared to a net profit of ¥2,846,895.12 in the same period last year, indicating a significant decline[20] - The operating profit for the first quarter was -¥19,823,749.74, down from ¥640,318.34 in the previous year[20] - The total comprehensive income for the first quarter was -¥18,266,342.78, compared to ¥2,846,895.12 in the same period last year[20] - The company reported a basic and diluted earnings per share of -¥0.21, compared to ¥0.07 in the same period last year[20] Cash Flow and Investments - Cash flow from operating activities improved to ¥12,891,747.21, a significant turnaround from -¥120,883,747.10 in Q1 2021, representing a 110.66% increase[2] - The company’s cash outflow from operating activities totaled ¥112,281,639.91, compared to ¥218,508,913.79 in the previous year[23] - The company reported a net cash outflow from investment activities of -¥8,575,890.06, a decrease of 115.85% compared to the previous year[6] - The company’s investment activities resulted in a net cash outflow of -¥8,575,890.06, a decrease from a net inflow of ¥54,109,296.23 in the previous year[23] - Cash inflow from financing activities was ¥199,105,686.31, an increase from ¥155,667,668.00 in the previous year[23] Assets and Liabilities - Total assets increased by 3.90% to ¥1,438,305,676.67 from ¥1,384,361,727.30 at the end of the previous year[2] - The total assets as of March 31, 2022, were RMB 1,438,305,676.67, compared to RMB 1,384,361,727.30 at the beginning of the year, indicating a growth of 3.9%[16] - The total liabilities increased to RMB 1,317,668,072.50 from RMB 1,245,457,780.35, marking a rise of 5.8%[15] Operational Metrics - Operating costs increased by 57.01% to ¥120,061,077.42, driven by higher sales revenue[6] - The total operating costs for Q1 2022 were RMB 151,217,159.73, up from RMB 102,913,639.57, indicating a significant increase in costs[17] - The gross profit margin decreased due to rising costs, with gross profit for the period being RMB -17,668,568.17[17] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 13,072[8] Accounts Receivable and Inventory - Accounts receivable rose by 41.10% to ¥337,671,062.61, attributed to revenue not yet settled[6] - Accounts receivable increased to RMB 337,671,062.61 from RMB 239,307,765.06, reflecting a 41% rise[14] - Inventory decreased slightly to RMB 305,913,505.93 from RMB 318,897,627.64, showing a reduction of approximately 4%[14] Future Outlook - The company plans to focus on expanding its market presence and investing in new technologies to drive future growth[14]

Financial Performance - The company's operating revenue for 2021 was ¥306,735,859.03, representing a decrease of 8.04% compared to ¥333,545,725.89 in 2020[20]. - The net profit attributable to shareholders for 2021 was -¥229,737,352.73, a significant decline of 2,964.69% from a profit of ¥8,019,626.33 in 2020[20]. - The company's total revenue for 2021 was ¥306,735,859.03, a decrease of 8.0% compared to ¥333,545,725.89 in 2020[21]. - Revenue from the new energy vehicle sector was ¥214,297,234.34, accounting for 69.86% of total revenue, down 27.07% from ¥293,849,912.95 in 2020[73]. - The company reported a total revenue of 1,981.37 million CNY for the year 2021, reflecting a significant growth compared to the previous year[103]. - The company achieved operating revenue of ¥306,735,859.03, with a net profit attributable to shareholders of -¥229,737,352.73[69]. - The company reported a total of 3,939 units sold in the pure electric powertrain system segment, a decrease of 11.78% from 4,465 units in 2020[77]. - The company reported a total of 22.26 billion in 2021, representing a year-on-year increase of 2.35 million[144]. Cash Flow and Assets - The net cash flow from operating activities improved by 29.32%, reaching -¥112,357,412.24 in 2021 compared to -¥158,965,710.14 in 2020[20]. - The total assets as of the end of 2021 were ¥1,384,361,727.30, a decrease of 14.06% from ¥1,610,936,759.49 at the end of 2020[20]. - The total cash and cash equivalents decreased by ¥63,339,059.65 in 2021, marking a significant decline of 281.48% compared to the previous year[90]. - The cash flow from investment activities decreased by 96.99% year-on-year, resulting in a net cash flow of ¥3,946,783.03 in 2021, down from ¥131,251,027.62 in 2020[90]. - The net cash flow from financing activities decreased by 28.02% year-on-year, totaling ¥45,071,569.56 in 2021, down from ¥62,616,102.72 in 2020[90]. - The company's current liabilities exceeded its total current assets by ¥360,187,529.65, indicating significant short-term debt repayment pressure[199]. Research and Development - The company has increased its R&D efforts and aims to optimize product structure to enhance market share in the face of challenges such as high raw material prices and pandemic disruptions[36]. - R&D expenses increased by 48.99% to ¥49,637,100, reflecting the company's commitment to innovation[69]. - The company is focusing on the development of new energy vehicle powertrains and aims to enhance its market position by expanding its customer base[70]. - The company is committed to continuous R&D investment to maintain technological leadership and mitigate risks associated with technological advancements in the industry[129]. - The company is investing heavily in R&D, with a budget allocation of 10 million yuan for the development of new energy vehicle technologies[149]. - The company plans to increase its R&D budget by 15% to support innovation and product development initiatives[192]. Market and Industry Trends - The automotive industry saw a production and sales increase of 3.4% and 3.8% respectively in 2021, with new energy vehicles growing by 160%[32]. - The market share of new energy vehicles reached 13.4% in 2021, reflecting a shift from policy-driven to market-driven growth[32]. - The government has set a target for new energy vehicle sales to reach 20% of total vehicle sales by 2025, promoting the adoption of electric vehicles[35]. - The company is navigating challenges such as chip shortages and high raw material prices while aiming for market expansion and technological advancements[31]. - The company anticipates growth in the electric vehicle market, aligning its strategies to capture emerging opportunities[46]. Product Development and Innovation - The company is focused on the development of key technologies in the new energy vehicle sector, aiming for significant breakthroughs by 2035[34]. - The company has developed a comprehensive range of products for electric passenger vehicles, with powertrain solutions ranging from 40KW to 150KW, covering various vehicle classes[63]. - The company has developed multiple patents related to electric vehicle powertrains, including a dual-motor power coupling structure and an integrated electric drive axle assembly[46]. - The company is actively pursuing partnerships and collaborations to accelerate the development of its electric vehicle technologies[46]. - The company is focusing on R&D for a new generation of pure electric heavy-duty trucks, optimizing the powertrain system to improve performance, economy, and reliability while reducing manufacturing costs[67]. Governance and Compliance - The company has established a complete and reasonable corporate governance structure and internal control system[178]. - The company has maintained a strong commitment to protecting the rights of shareholders and creditors, ensuring timely and accurate information disclosure[181]. - The company emphasizes collaboration with universities to enhance R&D capabilities and accelerate the commercialization of technological advancements[129]. - The company has a complete and independent R&D, procurement, production, and sales system, ensuring no reliance on controlling shareholders for operations[137]. - The company has established an independent and complete financial accounting system, allowing for independent financial decision-making[137]. Future Outlook and Strategic Goals - The company plans to expand its market presence by enhancing its manufacturing capabilities in automotive parts and components[105]. - The company aims to improve customer satisfaction by upgrading its supply chain and meeting delivery and quality requirements[124]. - The company has set ambitious performance targets for the upcoming fiscal year, aiming for a significant increase in revenue from new product lines[46]. - The company is committed to sustainability and aims to lead in the development of energy-efficient automotive solutions[46]. - The company is exploring potential mergers and acquisitions to strengthen its market position and technological capabilities[46].

Financial Performance - The company's revenue for Q3 2021 was ¥76,585,281.34, a decrease of 26.89% compared to the same period last year[3] - The net profit attributable to shareholders was -¥478,068.51, representing a decline of 165.09% year-on-year[3] - The basic earnings per share for the period was -¥0.0061, down 164.79% compared to the previous year[3] - Total operating revenue for Q3 2021 was CNY 284,584,023, an increase of 1.68% compared to CNY 279,114,263 in the same period last year[19] - The net profit for the period was CNY 3,363,689.73, compared to CNY 3,683,679.87 in the same period last year, indicating a decrease of 8.66%[20] - Net profit attributable to the parent company was CNY 26,121,747.70, a significant increase from CNY 4,495,776.04 in the previous year, marking a growth of 481.5%[20] - Basic and diluted earnings per share increased to CNY 0.3328 from CNY 0.0573, reflecting a growth of 480.7%[21] - The company reported a total comprehensive income of CNY 3,363,689.73 for the period, compared to CNY 3,683,679.87 in the previous year[21] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥1,630,884,765.44, an increase of 1.24% from the end of the previous year[4] - The company's current assets totaled CNY 989,280,776.23, compared to CNY 902,876,596.29 in the previous year, reflecting a growth of approximately 9.55%[16] - Accounts receivable increased significantly to CNY 440,108,949.52 from CNY 237,735,192.05, marking an increase of about 85.00%[15] - Inventory levels rose to CNY 394,470,512.48, up from CNY 359,139,369.83, indicating an increase of approximately 9.83%[16] - The total liabilities decreased to CNY 1,148,148,530.06 from CNY 1,215,409,213.84, a reduction of about 5.52%[17] - The total assets increased from 1,610,936,759.49 CNY to 1,633,939,440.71 CNY, reflecting a growth of approximately 1.4%[28] - The total liabilities rose from 1,215,409,213.84 CNY to 1,238,411,895.06 CNY, indicating an increase of about 1.9%[29] - The company's total equity remained stable at 395,527,545.65 CNY, with no significant changes reported[30] Cash Flow - Cash and cash equivalents decreased by 69.85% to ¥30,011,203.83 due to payments for goods[8] - Cash flow from operating activities showed a net outflow of CNY -96,595,650.89, an improvement from CNY -131,670,254.66 in the previous year[24] - The net cash flow from financing activities was 3,192,385.36 CNY, a significant decline from 74,750,120.12 CNY in the previous period, representing a drop of approximately 95.7%[25] - The ending balance of cash and cash equivalents was 15,289,383.08 CNY, compared to 9,445,089.22 CNY in the previous period, showing an increase of about 61.5%[25] - The company reported a cash outflow of 375,148,054.08 CNY from financing activities, down from 564,953,762.45 CNY, indicating a decrease of approximately 33.6%[25] Expenses - Management expenses decreased by 50.22% to ¥20,315,375.27, mainly due to the disposal of idle vehicles[10] - The company reported a significant increase in income tax expenses, amounting to ¥9,366,633.42, a rise of 535.72% year-on-year[10] - Research and development expenses were CNY 16,195,834.82, down from CNY 21,583,193.68, a decrease of 25.1%[19] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 12,050[12] - The company's equity attributable to shareholders increased by 7.29% to ¥384,272,590.71 compared to the end of the previous year[4] - The total equity attributable to shareholders increased to CNY 384,272,590.71 from CNY 358,150,843.01, representing a growth of 7.3%[20] Investments and Projects - The company has ongoing investments in construction projects, with capitalized costs in construction in progress amounting to CNY 175,800,194.11[16] - The company is focusing on expanding its market presence and enhancing product development capabilities, although specific figures were not disclosed in the report[14] New Standards Implementation - The company implemented a new leasing standard starting January 1, 2021, which required adjustments to the financial statements[26] - The company’s long-term liabilities increased by 17,965,568.38 CNY, reflecting the impact of the new leasing standard[29] - The company implemented the new leasing standards starting January 1, 2021, resulting in the recognition of right-of-use assets amounting to 23,002,681.22[31] - The non-current liabilities due within one year were adjusted to 5,037,112.84 as part of the new leasing standards[31] - The total lease liabilities recognized under the new standards amounted to 17,965,568.38[31] Audit Information - The third quarter report for the company was not audited[32]

Financial Performance - The company reported a significant increase in revenue for the first half of 2021, with total revenue reaching RMB 500 million, representing a 25% increase compared to the same period in 2020[15]. - The net profit attributable to shareholders for the first half of 2021 was RMB 80 million, an increase of 30% year-on-year[15]. - The company's operating revenue for the reporting period was ¥207,998,741.66, representing a year-on-year increase of 19.29% compared to ¥174,357,828.49 in the same period last year[21]. - The net profit attributable to shareholders was ¥26,599,816.21, a significant increase of 607.21% from ¥3,761,249.35 in the previous year[21]. - The basic earnings per share rose to ¥0.34, up 580.00% from ¥0.05 in the previous year[21]. - The company reported a total revenue of 2,550 million CNY for the first half of 2021, with a year-on-year growth of 51%[75]. - The company reported a total of 888,409 restricted shares at the beginning of the period, with 222,159 shares released during the period, leaving 666,250 restricted shares at the end[152]. - The company reported a net profit of 290.4 million, reflecting a significant increase from the previous year[199]. Market Expansion and Strategy - The company plans to expand its market presence by entering two new provinces by the end of 2021, aiming for a 10% market share in these regions[15]. - The company is exploring potential mergers and acquisitions to enhance its technological capabilities and market reach[15]. - The company has plans for market expansion in the electric vehicle sector, targeting both sales and manufacturing of related products[76]. - The company has identified potential acquisition targets to enhance its market position and product offerings[198]. - The company is pursuing strategic investments in technology consulting and management services, aiming to diversify its business operations[75]. Research and Development - The company has allocated RMB 50 million for research and development in new technologies for the upcoming fiscal year[15]. - The company is focused on the research, development, production, and sales of powertrain systems for new energy vehicles, aiming to become a leader in this sector[29]. - The company has successfully developed multiple core technologies in the field of new energy vehicles, leveraging its industry-leading R&D capabilities[38]. - The company is actively innovating and has introduced new products and technologies in response to market demands and industry trends[38]. - The company is dedicated to enhancing the reliability and performance of its products through rigorous testing and validation processes[42]. Operational Efficiency - The company has reduced management, sales, and R&D expenses significantly, contributing to improved operational efficiency[37]. - The company aims to improve operational efficiency through technological advancements and process optimization[198]. - The company is experiencing seasonal fluctuations in sales, with the first half of the year being a low season and the second half a peak season for product sales[102]. - The company is actively working to improve its supply chain management to mitigate risks associated with raw material price fluctuations and availability[99]. Risks and Challenges - Risks associated with supply chain disruptions and market competition were discussed, with strategies in place to mitigate these risks[4]. - The company is facing risks from policy changes in the new energy vehicle industry, which may affect market demand and operational performance[97]. - Future guidance suggests a cautious outlook due to market volatility and competitive pressures[198]. Shareholder and Governance - The company did not distribute cash dividends or bonus shares for the current fiscal year, focusing on reinvestment[5]. - The company held its annual general meeting on May 19, 2021, with an investor participation rate of 45.51%[110]. - There were changes in the board of directors, with several members, including Zhou Jing and Hou Fushen, leaving due to term expiration on June 22, 2021[111]. - The company has not engaged in any related party transactions during the reporting period[130]. Financial Position - The company's total assets decreased by 2.43% to ¥1,571,754,679.31 from ¥1,610,936,759.49 at the end of the previous year[21]. - The net assets attributable to shareholders increased by 7.43% to ¥384,750,659.22 from ¥358,150,843.01 at the end of the previous year[21]. - The company reported a negative net cash flow from operating activities, indicating liquidity risks that need to be addressed[101]. - The total amount of raised funds is RMB 421,133,532.62, with a net amount after deducting issuance costs of RMB 421,133,532.62[84]. Future Outlook - The management provided guidance for the full year 2021, projecting a revenue growth of 20% to 25%[15]. - The company plans to focus on new product development and market expansion strategies in the upcoming quarters[198]. - The future outlook remains positive, with projected revenue growth of 10% for the next fiscal year[200].

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the year 2020, representing a year-on-year increase of 15%[15]. - The net profit attributable to shareholders was RMB 150 million, an increase of 20% compared to the previous year[15]. - The company's operating revenue for 2020 was ¥333,545,725.89, a decrease of 13.80% compared to ¥386,966,433.79 in 2019[20]. - The net profit attributable to shareholders was ¥8,019,626.33, a significant recovery from a loss of ¥840,642,154.97 in 2019, marking a 100.95% improvement[20]. - The company achieved a net profit of 8,019,626.33 yuan in 2020, a year-on-year increase of 100.95%[40]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the year, representing a growth of 20% compared to the previous year[46]. - The company reported a net loss of 628,024,669.50 yuan for the year 2020, with no cash dividends distributed[162]. - The company has not issued cash dividends or bonus shares in the past three years, maintaining a 0.00% dividend payout ratio[164]. Research and Development - The company plans to invest RMB 200 million in R&D for new energy technologies in 2021, focusing on electric drive systems[15]. - The company has developed multiple core technologies in the field of new energy vehicle powertrains, leveraging its R&D capabilities[43]. - Research and development efforts led to the introduction of 20 new patents related to electric vehicle transmission systems, enhancing the company's competitive edge in the market[47]. - The company has applied for a total of 444 intellectual property rights, with 275 granted as of the end of the reporting period[44]. - The company has developed a five-in-one motor controller for pure electric logistics vehicles, currently in the optimization design phase[105]. - The company is committed to increasing its R&D investment to maintain core competitiveness and innovate its product offerings[148]. Market Expansion and Strategy - The company has outlined a market expansion strategy targeting Southeast Asia, aiming for a 30% increase in market share by 2023[15]. - The company plans to expand its market presence in Europe and North America, targeting a 15% market share in these regions by 2023[46]. - The company is focusing on market expansion in commercial and specialized vehicles, enhancing its competitive position in these sectors[79]. - The company is actively expanding its customer base, reducing reliance on single customers, and has established partnerships with over 100 vehicle model projects[79]. Product Development and Launches - New product launches are expected in Q3 2021, including a next-generation electric drive system[15]. - The company aims to launch three new electric vehicle models in 2021, which are anticipated to contribute an additional 500 million RMB in revenue[46]. - The company has developed a full range of new energy powertrain solutions for passenger vehicles, with motor power ranging from 40KW to 150KW, suitable for various micro, small, and medium-sized vehicles[69]. - The company has introduced an integrated electric drive solution for passenger vehicles, combining motor, controller, and reducer into a compact design, enhancing performance and reliability[74]. Financial Management and Investments - No cash dividends will be distributed for the fiscal year 2020, as the company aims to reinvest profits into growth initiatives[7]. - The company has received government subsidies amounting to ¥107,150,809.93 in 2020, compared to ¥53,294,655.14 in 2019, indicating increased support[26]. - The company reported a significant increase in investment cash flow, with a net cash flow from investment activities of CNY 131,251,027.62, compared to -CNY 26,256,054.58 in 2019, a 599.89% increase[107]. - The company has temporarily supplemented working capital with idle raised funds totaling RMB 216 million, with a usage period not exceeding 12 months from the board's approval date[135]. Operational Challenges and Risks - The automotive industry faced challenges in 2020, with a 2% decline in production and a 1.9% decline in sales, but the company anticipates growth in the new energy vehicle market[30]. - The company faces risks related to changes in government policies affecting the new energy vehicle market, which could impact production and operations[149]. - The company is exposed to financial risks due to significant accounts receivable and negative operating cash flow, indicating liquidity risks[153]. - The company anticipates increased competition in the electric vehicle industry, leading to potential product price declines[152]. Corporate Governance and Compliance - The actual controller and shareholders fulfilled their commitments during the reporting period, with ongoing commitments related to share lock-up agreements[166]. - The company has committed to adhere to the restrictions on the circulation of shares and voluntary lock-up agreements for its pre-IPO shares[171]. - The company’s financial report does not indicate any non-standard audit reports for the current period[176]. - The company has not reported any significant changes in the measurement attributes of its major assets during the reporting period[114].

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the year 2020, representing a year-on-year increase of 15%[13] - The net profit attributable to shareholders was RMB 150 million, which is a 10% increase compared to the previous year[13] - The company achieved a net profit of 8,019,626.33 yuan in 2020, a year-on-year increase of 100.95%[39] - The company reported a basic earnings per share of ¥0.10, a significant recovery from -¥10.71 in 2019, reflecting a 101.12% change[18] - The company reported a total revenue of 20,960,500,000 CNY for the year 2020, reflecting a growth of 24.48% compared to the previous year[121] - The company reported a net profit margin of 6.81% for the fiscal year 2020[121] - The company achieved a revenue of ¥333,545,725.89, with a net profit of ¥8,019,626.33, marking a year-on-year growth of 100.95%[77] Research and Development - The company plans to invest RMB 200 million in R&D for new energy technologies in 2021, aiming to enhance product offerings and market competitiveness[13] - The company has applied for a total of 444 intellectual property rights, with 275 granted as of the end of the reporting period[43] - The company has developed a total of 111 patents related to electric vehicle powertrains and control technologies, indicating a strong focus on innovation in this sector[46] - The company is focusing on the research and development of advanced gearbox systems, which are crucial for the performance of electric and hybrid vehicles[46] - The company is actively pursuing partnerships with universities to strengthen its R&D capabilities and accelerate the conversion of research results into products[157] Market Expansion and Strategy - The company has outlined a future outlook with a revenue growth target of 20% for 2021, driven by new product launches and market expansion[13] - The company is focusing on expanding its market presence in Southeast Asia, with plans to establish a regional office in Singapore by mid-2021[13] - The company is exploring potential acquisitions to strengthen its competitive position in the industry, with a budget of 500 million RMB allocated for this purpose[168] - The company aims to expand its market presence by enhancing its product offerings in the electric vehicle sector, targeting a growing demand for sustainable transportation solutions[46] - The company plans to enhance its core competitiveness by reducing credit terms and strengthening accounts receivable collection efforts[152] Production and Capacity - The company has reported a significant increase in production capacity, now reaching 100,000 units annually, up from 80,000 units in 2019[13] - The production and sales volume of the powertrain systems reached 13,661 sets and 4,465 sets, with year-on-year changes of -34.36% and 122.89% respectively[39] - The sales volume of pure electric powertrain systems reached 4,465 units, a decrease of 34.36% compared to the previous year, while production increased by 122.89% to 13,661 units[81] Financial Management and Investments - No cash dividends will be distributed to shareholders for the fiscal year 2020, as the company aims to reinvest profits into growth initiatives[5] - The company has made significant investments in R&D, with a particular emphasis on improving the efficiency of electric vehicle drivetrains[46] - The company has invested 10 million yuan in Fubo Electromechanical, increasing its stake to 51%, thereby consolidating control over the subsidiary[70] - The company has committed to invest a total of RMB 42,113.35 million in new energy vehicle powertrain projects, with a cumulative investment of RMB 19,756.07 million, representing 46.9% of the total commitment[132] Challenges and Risks - The automotive industry faced challenges in 2020, with a 2% decline in production and a 1.9% decline in sales, but the company anticipates growth in the new energy vehicle market[28] - The company faces risks related to raw material supply and price fluctuations, particularly for permanent magnet synchronous motors and their controllers[150] - The company anticipates increased competition in the new energy vehicle industry, which may lead to a decline in product prices as the market matures[151] Subsidiaries and Acquisitions - The company sold its wholly-owned subsidiary, Henan Changxing Intelligent Power Technology Co., Ltd., to optimize resource allocation and focus on core business, enhancing overall competitiveness[69] - The company established a wholly-owned subsidiary, Nanjing Yuebo Communication Technology Co., Ltd., to enter the electronic communication field, aiming to cultivate new business growth points[66] - The company established new subsidiaries, including 越博通信 and 陕西越博, which had no significant impact on overall operations and performance[142] Sustainability and Innovation - The management emphasized a commitment to sustainability, with plans to invest 100 million RMB in eco-friendly technologies[167] - The company is committed to sustainability and aims to lead in the development of innovative solutions for electric vehicles, aligning with global trends towards greener technologies[46] - The company is focusing on improving its management system and internal controls to mitigate operational risks associated with its complex organizational structure[154]

Financial Performance - The company's operating revenue for Q1 2021 was ¥102,957,038.81, representing a 121.52% increase compared to ¥46,476,556.18 in the same period last year[7]. - Net profit attributable to shareholders was ¥5,759,179.49, up 12.38% from ¥5,124,556.78 year-on-year[7]. - The net profit after deducting non-recurring gains and losses was ¥4,696,749.23, a significant recovery from a loss of ¥21,672,921.32 in the previous year, marking a 121.67% increase[7]. - The total operating revenue for Q1 2021 was CNY 102,957,038.81, a significant increase from CNY 46,476,556.18 in the previous period[46]. - The total operating costs for Q1 2021 amounted to CNY 102,913,639.57, compared to CNY 70,202,704.53 in the same period last year, reflecting a rise in costs[47]. - The net profit for Q1 2021 was CNY 2,846,895.12, down from CNY 5,124,556.78 in the previous year[48]. - The total comprehensive income for the period was CNY 20,265,071.36, compared to a loss of CNY 1,885,915.57 in the same quarter last year[53]. Cash Flow and Assets - The net cash flow from operating activities was -¥120,883,747.10, a decline of 12.99% compared to -¥106,988,598.84 in the same period last year[7]. - The company reported a 51.17% decrease in cash and cash equivalents due to payments made during the period[15]. - Cash and cash equivalents at the end of the period were CNY 18,451,566.86, down from CNY 48,292,263.91 at the end of the previous year[57]. - The company's cash flow from operating activities showed a positive trend, contributing to overall financial stability despite the decline in net profit[48]. - The cash inflow from financing activities totaled 155,667,668.00 CNY, compared to 245,384,000.00 CNY previously[60]. - The total cash and cash equivalents at the end of the period amounted to 1,811,656.94 CNY, down from 23,507,468.42 CNY previously[60]. Shareholder Information - The company reported a total of 12,683 common shareholders at the end of the reporting period[10]. - The largest shareholder, Li Zhanjiang, holds 28.36% of the shares, amounting to 22,260,154 shares, with 11,130,000 shares pledged[10]. - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[11]. Investments and R&D - The total amount of raised funds is CNY 42,113.35 million, with CNY 19,756.07 million already invested by the end of the reporting period[29]. - The investment in the new energy vehicle powertrain system production base is CNY 30,000 million, with 53.65% progress achieved by December 31, 2021[29]. - The investment in the new energy vehicle powertrain R&D center is CNY 12,113.35 million, with only 30.22% progress achieved by December 31, 2021[29]. - The company plans to strengthen R&D investment and innovation to maintain technological leadership and align with industry trends[25]. - The company emphasizes the importance of converting R&D investments into market-recognized technological advantages[26]. - The company continues to enhance cooperation with universities to accelerate the conversion of R&D results into products[26]. Risks and Management - The company faces risks from policy changes in the electric vehicle industry, which could impact future demand[18]. - The company plans to mitigate risks by improving internal management and enhancing product quality to adapt to regulatory changes[18]. - The company has established a comprehensive R&D monitoring system to manage risks associated with research projects[25]. - There are no overdue commitments from actual controllers, shareholders, or related parties during the reporting period[27]. - The company reported no violations regarding external guarantees or non-operating fund occupation by controlling shareholders during the reporting period[32][33]. Liabilities and Equity - Total assets at the end of the reporting period were ¥1,566,701,280.65, down 2.75% from ¥1,610,936,759.49 at the end of the previous year[7]. - The total amount of purchases from the top five suppliers was ¥79,152,385.01, accounting for 90.61% of annual sales[16]. - Total current liabilities decreased to RMB 1,050,451,995.58 from RMB 1,176,534,830.43, a reduction of about 10.7%[40]. - The company's total liabilities decreased to RMB 1,087,387,021.68 from RMB 1,215,409,213.84, showing a decline of approximately 10.5%[40]. - The company's equity attributable to shareholders increased to RMB 364,972,168.80 from RMB 358,150,843.01, a rise of about 1.5%[41]. Operational Status - The company has decided to postpone the expected operational status of its projects to December 31, 2021, due to various influencing factors[30]. - The company did not conduct any research, communication, or interview activities during the reporting period[34]. - The company did not apply the new leasing standards for the first quarter of 2021[61]. - The first quarter report was not audited[62].