证券代码：300850 证券简称：新强联 洛阳新强联回转支承股份有限公司 投资者关系活动记录表 编号： 2021-003 | --- | --- | --- | --- | |-------------------------|---------------------------------------|-------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | | | 特定对象调研 | 分析师会议 | | | | □媒体采访 | □业绩说明会 | | | 投资者关系活动 | □新闻发布会 | ...

Group 1: Financial Performance and Projections - The overall gross margin for the next year is expected to remain stable compared to this year due to slight price declines in some products and the introduction of new products [1] - The company anticipates that the production of new products developed this year will gradually increase [2] - The company expects to see profits from the production of special-shaped components next year, which did not contribute to profits this year [3] Group 2: Product Development and Market Position - The supply of main shafts is expected to increase slightly next year, with large-scale bearings for offshore applications also seeing growth [2] - The company maintains a competitive edge in technology and product development, despite market challenges [2] - The company is focused on enhancing its research and development capabilities, with a structured approach to product validation and testing [3] Group 3: Supply Chain and Cost Management - The company has established long-term stable relationships with suppliers to manage raw material price fluctuations [2] - The depreciation of machinery and equipment is calculated over a period of 10 years, in accordance with accounting standards [2] - The company is confident in its cost management for main shafts, which is seen as advantageous in the context of domestic market competition [3] Group 4: Strategic Partnerships and Talent Development - The acquisition of Haozhi Machinery and the stake in Jindi Precision are strategic moves to enhance collaboration and market presence [4] - The company emphasizes internal training and the introduction of new talent to strengthen its management and R&D teams [4] - A stock incentive plan will be considered to align employee interests with company performance once the team stabilizes [4]

证券代码：300850 证券简称：新强联 洛阳新强联回转支承股份有限公司 投资者关系活动记录表 编号： 2022-002 | --- | --- | --- | |-----------------------|----------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | | 特定对象调研 | 分析师会议 | | | □媒体采访 | 业绩说明会 | | 投资者关系活动 | □新闻发布会 | □路演活动 | | 类别 | □现场参观 | | | | 其他 （电话会议） | | | | | 中银资管、国联安基金、华创证券、安信基金、友邦人寿、申万菱信 | | 参与单位名称 | 长城、华夏基金、宝盈基金 | 基金、浦银安盛 ...

Financial Performance - The company's revenue for Q3 2022 was ¥690,513,134.83, an increase of 8.04% year-on-year, while the year-to-date revenue reached ¥1,952,873,064.65, up 2.79% compared to the previous year[6]. - Net profit attributable to shareholders for Q3 2022 was ¥91,253,720.50, a decrease of 59.38% year-on-year, with a year-to-date net profit of ¥333,712,666.12, down 16.56%[6]. - The basic earnings per share for Q3 2022 was ¥0.28, reflecting a decline of 61.11% compared to the same period last year, while the diluted earnings per share also stood at ¥0.28[6]. - The company's operating revenue for the current period was approximately 1.7 billion, a significant increase from 751.36 million in the previous period, reflecting a growth of 126.5%[42]. - The net profit for the current period was approximately 342.89 million, compared to 399.92 million in the previous period, indicating a decrease of 14.3%[40]. - The total profit for the current period was approximately 388.21 million, down from 457.91 million, a decline of 15.2%[40]. - The company's total comprehensive income for the current period was approximately 342.89 million, compared to 399.92 million in the previous period, a decline of 14.3%[40]. Assets and Liabilities - Total assets at the end of Q3 2022 amounted to ¥7,925,402,848.54, representing a 26.68% increase from the end of the previous year[6]. - Current assets totaled CNY 3,899,347,863.10, a decrease from CNY 4,080,719,257.51 in the previous period, representing a decline of approximately 4.4%[34]. - Non-current assets increased to CNY 4,026,054,985.44 from CNY 2,175,639,770.45, showing a significant growth of about 85.1%[34]. - Total liabilities rose to CNY 4,125,944,106.68, up from CNY 2,748,177,163.85, marking an increase of approximately 50.2%[34]. Cash Flow - The company's cash flow from operating activities for the year-to-date period was ¥547,127,743.11, showing a significant increase of 206.76%[6]. - Operating cash flow turned positive with a net amount of ¥547,127,743.11, a 206.76% increase, attributed to increased collections and bill discounts[18]. - Net cash flow from operating activities was $547.13 million, a significant improvement from a net loss of $512.49 million in the previous period[48]. - Cash received from operating activities totaled $1.75 billion, compared to $771.61 million in the previous period[48]. - Cash paid for operating activities amounted to $1.20 billion, slightly lower than $1.28 billion in the prior year[48]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 23,198, with the top ten shareholders holding significant stakes[19]. - The largest shareholder, Xiao Zhengqiang, holds 20.14% of shares, amounting to 66,399,195 shares[19]. Investment Activities - Investment income for the year-to-date period was ¥20,250,200.05, a substantial increase of 397.44% compared to the previous year, mainly from the sale of stocks and financial products[15]. - The company recorded investment income of approximately 20.25 million, compared to 4.07 million in the previous period, a significant increase of 396.3%[40]. - Cash received from investment recoveries was $1.01 billion, a substantial increase from $200 million in the previous period[48]. Financing Activities - The company reported a 70.00% increase in share capital, reaching ¥329,708,796.00, primarily due to the conversion of capital reserves into share capital[15]. - The company experienced a 218.01% increase in short-term borrowings, totaling ¥1,747,049,879.18, attributed to an increase in financing scale[15]. - Financing cash flow decreased by 66.11% to ¥551,010,319.95, primarily due to fundraising activities in 2021[18]. - Net cash flow from financing activities was $551.01 million, a decrease from $1.63 billion in the previous year[48]. - Cash inflow from financing activities was $1.82 billion, down from $2.19 billion year-over-year[48]. Expenses - The company reported a 58.46% rise in management expenses, amounting to ¥40,756,568.80, due to increased personnel costs and consulting fees[15]. - Research and development expenses increased to approximately 90.12 million from 78.13 million, representing a growth of 15.4%[40]. - Financial expenses rose to approximately 75.31 million from 55.17 million, an increase of 36.5%[40]. - The tax expenses for the current period were approximately 45.32 million, down from 57.99 million, a decrease of 21.9%[40].

Capital Structure and Financial Performance - The company reported a registered capital increase from RMB 193,946,351 to RMB 329,708,796 during the reporting period[26]. - The company plans not to distribute cash dividends, issue bonus shares, or increase capital from reserves[6]. - The company's operating revenue for the reporting period was ¥1,262,359,929.82, a slight increase of 0.13% compared to ¥1,260,676,911.25 in the same period last year[27]. - Net profit attributable to shareholders was ¥242,458,945.62, representing a significant increase of 38.32% from ¥175,283,833.30 year-on-year[27]. - Basic and diluted earnings per share increased by 29.82% to ¥0.74 from ¥0.57 in the same period last year[27]. - Total assets at the end of the reporting period reached ¥6,863,985,581.59, a 9.71% increase from ¥6,256,359,027.96 at the end of the previous year[27]. - The company's accounts payable increased to ¥61,704,771.71, representing a 0.90% increase due to sales growth and increased VAT and corporate income tax[72]. - The company's capital stock rose to ¥329,708,796.00, reflecting a 4.80% increase primarily due to the transfer of capital reserves to share capital[72]. - The company reported a total investment of ¥177,175,719.60 during the reporting period, with no change compared to the previous year[78]. - The total amount of raised funds was ¥145,079.42 million, with ¥31,981.49 million invested during the reporting period[85]. - The net amount of raised funds after deducting other issuance expenses is RMB 1,450,794,231.27[88]. - As of June 30, 2022, the unused balance of raised funds is RMB 713,446,180.70, accounting for 48.49% of the net amount raised[89]. - The company has temporarily supplemented working capital with RMB 300,000,000 from idle raised funds[92]. - The company plans to use up to RMB 300,000,000 of idle raised funds for temporary working capital, with a usage period not exceeding 12 months[92]. - The company plans to issue convertible bonds with a total fundraising amount not exceeding RMB 150 million, aimed at investing in gearbox bearings and precision components projects, as well as supplementing working capital[181]. - The company plans to issue convertible bonds with a total fundraising amount adjusted to no more than RMB 121,000,000, with a net amount of RMB 86,500,000 allocated for the construction of gearbox bearings and precision components projects[188]. Operational Highlights and Market Position - The company has developed a 12MW offshore wind turbine main shaft bearing, marking the largest power wind turbine main shaft bearing in China, successfully breaking foreign technology monopolies[39]. - The company has achieved mass production of 2-5MW wind turbine main shaft bearings and small batch production of 3-7MW wind turbine bearings, enhancing its competitive edge in the market[39]. - The subsidiary, Shengjiu Forging, has a production capacity exceeding 120,000 tons of forgings, providing essential raw material support for the company's large slewing bearings[42]. - The company has established partnerships with leading domestic enterprises such as Mingyang Smart Energy and Envision Energy, enhancing its brand effect and market presence[39]. - The company has been recognized as a specialized and innovative small enterprise by the Henan Provincial Department of Industry and Information Technology for its subsidiaries[38]. - The company’s strategic focus on the wind power bearing industry has positioned it well to capitalize on the domestic market's shift towards localization of core components[48]. - The company has established long-term stable relationships with suppliers of key raw materials, ensuring a competitive advantage in product performance and quality[47]. - The company has a strong R&D capability with 99 patents, including 16 invention patents, and has been recognized as a high-tech enterprise[51]. - The company’s production capacity has been fully released, enhancing its ability to ensure raw material supply and maintain competitive product quality[47]. - The company’s complete industrial chain layout enhances profitability and market share while mitigating risks from upstream raw material and downstream market fluctuations[56]. - The company has established stable partnerships with leading domestic enterprises, ensuring good growth potential and sustainability for future development[57]. - The company’s comprehensive quality control system has built a solid foundation for continuous business growth and brand recognition[59]. Risk Management and Challenges - The company faces risks related to accounts receivable, with significant amounts leading to potential bad debt losses and declining turnover rates[104]. - Raw material prices, including continuous casting billets, steel ingots, and forgings, significantly impact the company's gross profit, necessitating effective procurement and product structure optimization[105][107]. - The company's performance is highly influenced by industry policies and market demand, particularly in the wind power sector, which constitutes a large portion of its revenue[108]. - The concentration of sales among the top five customers poses a risk; their sales account for a substantial part of the company's revenue, making it vulnerable to individual customer issues[109]. - Rapid growth in business and asset scale demands enhanced management systems to mitigate risks associated with operational and financial controls[111][113]. - Safety production risks are present due to the use of natural gas and high-temperature processes, necessitating robust safety management and training[114]. - The company’s product prices are under pressure from market competition and raw material costs, particularly in the wind power and shield tunneling sectors[115]. - Ongoing COVID-19 pandemic impacts logistics and order fulfillment, potentially delaying revenue recognition and operational performance[116]. Governance and Compliance - The financial report is guaranteed to be true, accurate, and complete by the company's management, with no significant omissions or misleading statements[5]. - All board members attended the meeting to review the report, ensuring collective responsibility for its content[5]. - The company operates under the supervision of the China Securities Regulatory Commission and the Shenzhen Stock Exchange[15]. - The company maintains a strict governance structure to protect shareholder rights and has facilitated shareholder participation through various voting methods[132]. - The company has committed to a 36-month lock-up period for shares held by major shareholders following the IPO[141]. - The company has committed to a 6-month lock-up period for newly issued shares, reflecting confidence in future development[158]. - The company is currently in compliance with all outlined commitments and regulations regarding shareholding and stock price stabilization[146]. - The controlling shareholders have pledged not to engage in any competing business during their tenure, ensuring no conflicts of interest with the company's operations[152]. - The controlling shareholders have agreed to act in concert on significant corporate decisions, including financial budgets and profit distribution plans[155]. - The company has not faced any administrative penalties for environmental issues during the reporting period[130]. - The company has implemented a comprehensive environmental management system and has passed relevant certifications[136]. - The company has not reported any violations of external guarantees during the reporting period[159]. - The company has not experienced any bankruptcy reorganization matters during the reporting period[164]. - There were no significant lawsuits or arbitration matters during the reporting period[164]. - The company has not engaged in any major related party transactions during the reporting period[172]. Community Engagement and Social Responsibility - The company established a rooftop photovoltaic power station to reduce carbon emissions and promote harmonious economic and ecological development[131]. - The company donated RMB 500,000 to the Red Cross Society of Xin'an County for pandemic relief efforts[137]. - The company actively engages with investors through multiple communication channels, ensuring transparency and participation[132].

Financial Performance - The company's revenue for Q1 2022 was CNY 643,882,745.52, representing a 14.66% increase compared to CNY 561,544,544.37 in the same period last year[4] - Net profit attributable to shareholders was CNY 97,704,372.28, up 33.97% from CNY 72,928,713.54 year-on-year[4] - The net profit after deducting non-recurring gains and losses was CNY 127,410,905.46, a 27.95% increase from CNY 99,582,054.46 in the previous year[4] - Basic and diluted earnings per share increased to CNY 0.50, up 25.00% from CNY 0.40 in the previous year[4] - The net profit for the current period is 101,041,650.68, an increase from 72,928,713.54 in the previous period, representing a growth of approximately 38.5%[40] - Operating profit for the current period is 114,947,679.20, compared to 82,573,038.98 in the previous period, indicating a growth of approximately 39.2%[40] - The total comprehensive income for the current period is 101,041,650.68, up from 72,928,713.54, marking an increase of around 38.5%[43] Cash Flow - The net cash flow from operating activities improved significantly to CNY 38,390,666.33, compared to a negative CNY 318,744,843.45 in the same period last year, marking a 112.04% increase[4] - Cash flow from operating activities generated a net amount of 38,390,666.33, a significant recovery from a negative cash flow of -318,744,843.45 in the previous period[48] - The net cash flow from investing activities was -$295.49 million, compared to -$417.23 million in the previous period, indicating an improvement[50] - Cash inflow from financing activities totaled $634.78 million, up from $210.17 million year-over-year[50] - The net cash flow from financing activities was $153.18 million, a decrease from $185.27 million in the previous period[50] - The ending balance of cash and cash equivalents was $379.03 million, down from $645.43 million at the beginning of the period[50] - Cash outflow for the acquisition of fixed assets and other long-term assets was $460.77 million, compared to $117.23 million previously[50] - Cash inflow from borrowings was $317.95 million, significantly higher than $99.84 million in the prior period[50] - Cash outflow for debt repayment was $310.00 million, compared to $15.38 million in the previous period[50] - The company reported a total cash outflow from investing activities of $1.02 billion, compared to $417.23 million previously[50] - The impact of exchange rate changes on cash and cash equivalents was -$262,095.02, a decrease from a positive impact of $1,279.67 in the previous period[50] Assets and Liabilities - Total assets at the end of the reporting period were CNY 6,684,323,595.80, a 6.84% increase from CNY 6,256,359,027.96 at the end of the previous year[4] - Total liabilities rose to ¥3,075,247,560.26 from ¥2,748,177,163.85, indicating an increase of 11.88%[34] - The company's non-current assets totaled ¥2,722,218,798.90, up from ¥2,175,639,770.45, reflecting a growth of 24.99%[32] Shareholder Information - The total number of common shareholders at the end of the reporting period is 16,467[12] - The largest shareholder, Xiao Zhengqiang, holds 20.14% of the shares, amounting to 39,058,350 shares[12] - The second-largest shareholder, Xiao Gaoqiang, holds 19.35% of the shares, totaling 37,526,650 shares[12] - Haitong Kaiyuan Investment Co., Ltd. holds 10.20% of the shares, equivalent to 19,783,763 shares[12] - The number of shares held by the top ten shareholders with unrestricted shares includes Haitong Kaiyuan Investment Co., Ltd. with 19,783,763 shares and Hong Kong Central Clearing Limited with 11,526,119 shares[15] - The company plans to release restricted shares totaling 13,746,351 shares, with 12,804,821 shares released during the reporting period[21] - The company has not identified any other related party relationships among the top ten shareholders[17] Research and Development - The company's R&D expenses rose to CNY 28,698,935.17, reflecting a 33.19% increase compared to CNY 21,547,437.81 in the same period last year[11] - Research and development expenses increased to 28,698,935.17 from 21,547,437.81, reflecting a rise of about 33.3%[40] Convertible Bonds - The total amount of funds to be raised from the issuance of convertible bonds is not more than RMB 150 million, intended for projects related to gearbox bearings and precision components[22] - The adjusted total amount for the issuance of convertible bonds is set at RMB 135.5 million, with RMB 99.5 million allocated for project construction and RMB 36 million for working capital[23] - The company has approved the issuance of convertible bonds at board meetings held on January 14 and February 21, 2022[22][23] - The company is in the process of issuing convertible bonds, pending approval from the Shenzhen Stock Exchange and the China Securities Regulatory Commission, which introduces uncertainty regarding the timeline[25] - The company has committed to timely information disclosure regarding the progress of its bond issuance to mitigate investment risks for shareholders[25] Other Financial Metrics - Total operating costs for the first quarter were ¥494,262,600.47, up from ¥451,888,515.54, indicating a year-over-year increase of 9.31%[35] - The company's cash and cash equivalents at the end of the quarter amounted to ¥1,202,088,258.25, compared to ¥942,975,810.64 at the beginning of the year, reflecting a significant increase of 27.54%[29] - Accounts receivable increased to ¥1,096,844,035.00 from ¥908,232,908.09, representing a growth of 20.73%[29] - The company recorded a financial expense of 28,476,152.32, which is an increase from 18,050,957.75, reflecting a rise of approximately 57.5%[40] - The company reported a tax expense of 13,399,818.52, up from 9,640,094.41, which is an increase of about 39.1%[40] - The investment income for the current period is 4,885,972.48, with a loss from joint ventures of -622,718.12[40] Audit Status - The first quarter report was not audited, indicating that the figures may be subject to change[51]

Company Information - The company's stock code is 300850, and its legal representative is Xiao Zhengqiang[19] - The company's registered and office address is located in Luoxin Industrial Park, Luoyang City, with a postal code of 471822[19] - The company's website is http://www.lyxqlbearing.com.cn, and its email is xql@lyxql.com.cn[19] - The company's board secretary is Kou Congmei, and the securities affairs representative is Zha Xiaoping[20] - The company's annual report is disclosed on the Shenzhen Stock Exchange website (www.szse.cn) and other media platforms such as China Securities Journal and Shanghai Securities News[21] - The company's auditor is Da Hua Certified Public Accountants (Special General Partnership), located in Beijing[23] - The company's sponsor is Dongxing Securities Co., Ltd., with continuous supervision period from July 13, 2020, to December 31, 2023[23] Financial Performance - Revenue in 2021 reached 2,476,874,367.22 yuan, a year-on-year increase of 19.98%[25] - Net profit attributable to shareholders in 2021 was 514,307,382.17 yuan, up 21.09% year-on-year[25] - Net cash flow from operating activities in 2021 was -342,353,639.61 yuan, a significant decrease of 183.44% compared to 2020[25] - Total assets at the end of 2021 were 6,256,359,027.96 yuan, an increase of 87.48% compared to the end of 2020[25] - Net profit attributable to shareholders in Q3 2021 was 224,638,669.12 yuan, the highest among all quarters[28] - The company's weighted average return on equity in 2021 was 23.07%, a decrease of 17.65 percentage points compared to 2020[25] - Non-recurring gains and losses in 2021 amounted to 30,404,941.85 yuan, a decrease from 47,459,976.30 yuan in 2020[35] - The company achieved operating revenue of 2,476.87 million yuan, a year-on-year increase of 19.98%, and net profit attributable to shareholders of 483.90 million yuan, a year-on-year increase of 28.27%[55] - The company achieved a total operating income of 2,476,874,367.22 yuan in 2021, a year-on-year increase of 19.98%[67] - Net profit attributable to shareholders of the listed company was 514,307,382.17 yuan, a year-on-year increase of 21.09%[67] - The company's total assets reached 6,256,359,027.96 yuan, a year-on-year increase of 87.48%[67] Wind Power Industry - The company's wind power bearing products are mainly focused on models of 3.0MW and above, with successful development of 5.5MW and 6.25MW large-megawatt wind power main shaft products[41] - The company has started batch supply of large-megawatt products to Mingyang Smart Energy[41] - The wind power industry is experiencing rapid growth driven by national policies and the "carbon peak, carbon neutrality" strategy[40] - Wind power products accounted for 85.92% of total revenue, generating 2,128,193,675.10 yuan, a year-on-year increase of 16.87%[68] - The gross profit margin for wind power products was 31.56%, with a slight increase of 0.07% year-on-year[71] - The company plans to focus on expanding new technology applications in response to the trend of large-scale and offshore wind power[146] - The company acknowledges potential risks from policy changes in the wind power industry, which could impact its profitability[147] Subsidiaries and Investments - The company's subsidiary, Shengjiu Forgings, has developed precision forging technology for extra-large rings, capable of producing rings with diameters up to 12 meters and single-piece weights up to 80 tons, leading the world[49] - The company's subsidiary, Haozhi Machinery, has over a decade of experience in the production and R&D of wind turbine lock discs, supplying multiple wind turbine and gearbox manufacturers[48] - The company's subsidiary, Xinsheng New Energy, focuses on the development, consultation, investment, construction, and operation of new energy photovoltaic and wind power projects[46] - The company acquired 55% of Luoyang Haozhi Machinery Co., Ltd., which specializes in wind power lock plates[76] - The company established a wholly-owned subsidiary, Luoyang Xinsheng New Energy Co., Ltd., with a capital of 30 million yuan to focus on photovoltaic and wind power projects[76] - The company acquired a 55% stake in Luoyang Haozhi Machinery Co., Ltd. for RMB 176 million, resulting in an investment gain of RMB 890,463.26[114] - The company established a wholly-owned subsidiary, Luoyang Xinsheng New Energy Co., Ltd., with an investment of RMB 30 million, resulting in an investment loss of RMB 70,793.18[114] - The company invested RMB 145 million for a 36% stake in Luoyang Zhongjing Shuofeng Mining Co., Ltd., resulting in an investment gain of RMB 119,467.97[114] - The company invested RMB 99.752 million for a 4.5% stake in Shandong Jindi Precision Machinery Technology Co., Ltd.[114] - The company's total investment in the reporting period amounted to RMB 450.752 million, with a total investment gain of RMB 939,138.05[114] - The company's stock investments had an initial cost of RMB 149,999,994.02, with a fair value change of RMB 79,720,764.08 and cumulative investment income of RMB 57,159,982.10[117] - The company's total financial assets had a fair value of RMB 871,996,366.10 at the end of the reporting period[117] Research and Development - The company has mastered various production technologies and holds multiple patents in rolling, heat treatment, machining, and inspection, including core technologies such as soft-band-free intermediate frequency quenching and soft-band-free slewing bearings[44] - The company has successfully developed and mass-produced 5.5MW and 6.25MW large-capacity wind turbine main shaft bearings, and has started supplying them to Mingyang Smart Energy[49] - The development of ultra-large diameter shield machine joint bearings has been completed, meeting the demand for tunnels with diameters exceeding 15 meters and achieving domestic advanced levels[90] - The large-diameter heavy-duty slewing bearing has entered mass production, reaching domestic leading levels and adding new technological innovation and economic growth points for the company[90] - The three-row cylindrical roller pitch bearing development has been completed, achieving domestic leading and world advanced levels, and has been mass-produced domestically[90] - The development of 6 MW offshore wind turbine pitch and yaw bearings is in the prototype processing and trial production stage, aiming to meet domestic leading standards[90] - The 5 MW offshore wind turbine double-row tapered roller main bearing has entered small-scale production, filling domestic gaps and reaching international advanced levels[90] - The 7 MW offshore wind turbine double-row tapered roller main bearing is in the structural design and verification stage, aiming for international advanced levels[92] - The independent pitch bearing for high-power wind turbines is in the prototype trial production stage, aiming for domestic leading levels[92] - The number of R&D personnel increased by 17.06% to 295 in 2021, with the proportion of R&D personnel rising to 15.36%[95] - The number of R&D personnel with bachelor's degrees increased by 38.46% to 18 in 2021[95] - The number of R&D personnel aged below 30 increased by 4.49% to 93 in 2021[95] - R&D investment in 2021 was RMB 106.34 million, accounting for 4.29% of revenue, a slight decrease from 4.66% in 2020[98] Corporate Governance - The company's governance structure complies with relevant laws and regulations, including the "Company Law" and "Securities Law," and no unresolved governance issues were reported[162] - The company maintains complete independence from its controlling shareholders in terms of assets, personnel, finance, organization, and business operations[174] - The company has established a comprehensive internal control system, including an independent audit committee and internal audit department to ensure financial accuracy and compliance[171] - The company's board of directors consists of 6 members, including 3 independent directors, ensuring compliance with corporate governance requirements[164] - The company has implemented a performance evaluation and incentive system that links executive compensation to business performance[168] - The company ensures fair and transparent information disclosure through designated media and platforms, maintaining equal access to information for all investors[169] - The company has a complete and independent financial system, including separate bank accounts and tax filings, with no shared financial resources with controlling shareholders[177] - The company's asset structure is independent, with clear ownership of production facilities, equipment, and intellectual property, free from reliance on controlling shareholders[175] - The company's personnel management is independent, with no overlapping roles or compensation arrangements with controlling shareholders, and all employees are under formal employment contracts[176] - The company has a sound organizational structure with independent and complete internal management institutions, ensuring no institutional overlap with controlling shareholders or other related enterprises[178] - The company is primarily engaged in the R&D, production, and sales of large slewing bearings and industrial forgings, with an independent and complete business chain[178] - The 2021 annual general meeting had an investor participation rate of 62.91%, while the first, second, and third extraordinary general meetings had participation rates of 45.98%, 48.49%, and 45.89% respectively[181] - The company's capital reserve was converted into share capital, resulting in significant increases in shareholdings for key executives, such as Xiao Zhengqiang's shares increasing from 22,975,500 to 39,058,350[183] - Cao Baigen resigned as director, board secretary, and vice president on May 24, 2021, due to personal reasons[189] - Kou Congmei was appointed as the board secretary on August 6, 2021, following the resignation of Cao Baigen[190] - The company's board members have diverse professional backgrounds, including experience in auditing, education, and law, contributing to the company's governance[191] - Chen Mingcan, born in 1982, holds a master's degree in accounting and serves as an independent director of the company[194] - Zhang Zhanpu, born in 1981, is the Chairman of the Supervisory Committee and also serves as the Chairman of the Labor Union and the Production Department Head[195] - Li Huaqing, born in 1973, is a member of the Supervisory Committee and holds the position of Chief Engineer[195] - Niu Linlin, born in 1990, is a member of the Supervisory Committee and works in the Sales Department[195] - Xiao Gaoqiang, born in 1973, is the General Manager and a member of the Board of Directors[196] - Kou Congmei, born in 1987, is the CFO and Board Secretary, holding multiple professional certifications including CPA, CTA, and CPV[196] - Hao Shuang serves as the Executive Director of the Risk Control Department at Haitong Kaiyuan Investment Co., Ltd[196] - Xiao Zhengqiang holds multiple positions including Chairman and Director at various subsidiaries[199] - The remuneration for directors, supervisors, and senior management is determined by the Board of Directors and approved by the shareholders' meeting[200] Profit Distribution and Shareholder Information - The company's profit distribution plan is to distribute a cash dividend of 2.66 yuan per 10 shares (tax included) and transfer 7 shares per 10 shares from capital reserve, based on a total of 193,946,351 shares[6] Sales and Production - The company's sales model is direct, primarily serving wind turbine manufacturers, shield machine manufacturers, and other specialized equipment manufacturers[51] - Sales volume in the slewing bearing industry increased by 22.24% to 19,474 units, and production volume increased by 22.24% to 19,474 units[72] - Inventory in the slewing bearing industry increased by 23.28% to 20,706 units[72] - Sales volume in the forging industry increased by 28.30% to 142,367 tons, and production volume increased by 27.63% to 141,561 tons[72] - Inventory in the forging industry decreased by 48.97% to 840 tons[72] - Sales volume in the lock plate industry increased by 100.00% to 723 units, and production volume increased by 100.00% to 749 units[72] - Direct material costs in the slewing bearing industry increased by 28.13% to 1,053,505,621.91 yuan, accounting for 68.68% of operating costs[78] - Direct material costs in the forging industry increased by 16.34% to 121,374,658.27 yuan, accounting for 85.01% of operating costs[78] - The top five customers accounted for 82.00% of total annual sales, amounting to 2,031,068,519.49 yuan[83] Cash Flow and Investments - Operating cash flow in 2021 was -RMB 342.35 million, a 183.44% decrease YoY, mainly due to the end of the wind power subsidy rush and increased material purchases[99][102] - Investment cash flow in 2021 was -RMB 1.52 billion, a 141.15% increase YoY, primarily due to investments in Jindi Precision, Shuofeng Mining, and the acquisition of Haozhi Machinery[99][102] - Financing cash flow in 2021 was RMB 1.70 billion, a 106.19% increase YoY, driven by private placement fundraising and increased bank loans[99][102] - Accounts receivable increased by 2.51% of total assets in 2021, reaching RMB 908.23 million, due to normalized payment terms and the acquisition of Haozhi Machinery[102] - Inventory increased by RMB 186.97 million in 2021, driven by sales growth and increased raw material and finished goods stockpiles[102] - Fixed assets increased by RMB 306 million in 2021, mainly due to expanded production capacity for slewing rings and forgings, as well as new photovoltaic equipment[102] - Short-term loans increased by 5.33% of total assets in 2021, reaching RMB 549.37 million, due to increased borrowing[105] - Total investment in 2021 was RMB 450.75 million, a 138.77% increase YoY[111] - Restricted assets at the end of 2021 totaled RMB 894.22 million, mainly due to bank acceptance guarantees, pledged receivables, and financing lease collateral[107][110] Fundraising and Capital Management - The company raised RMB 1.459 billion through a private placement of shares, with a net amount of RMB 1.450 billion after deducting issuance costs[124] - The company's total raised funds amounted to RMB 1.893 billion, with RMB 1.028 billion still unused[121] - The company's IPO raised RMB 520.99 million, with a net amount of RMB 442.35 million after deducting issuance costs[121] - The unused balance of funds raised through the private placement as of December 31, 2021, is RMB 1,028,720,810.06, accounting for 70.91% of the net amount of funds raised[125] - The unused funds include RMB 228,720,810.06 in bank accounts, RMB 500,000,000.00 in wealth management products, and RMB 300,000,000.00 temporarily used to supplement working capital[125] - The 3.0MW and above high-power wind turbine main bearing construction project is still under construction as planned, which is the reason for the unused funds[125] - The total investment in the 2.0MW and above high-power wind turbine main bearing project is RMB 322,355,000, with a cumulative investment of RMB 322,512,000 as of the reporting period, achieving 100% of the planned investment[126] - The 3.0MW and above high-power wind turbine main bearing construction project has an investment progress of 10.61%, with RMB 9,918,900 invested out of the total planned investment of RMB 93,500,000[130] - The R&D center construction project has an investment progress of 0.18%, with only RMB 33,000 invested out of the total planned investment of RMB 18,779,420[130] - The company used RMB 300,000,000 of idle raised funds to temporarily supplement working capital, with a usage period not exceeding 12 months[136] - The company replaced RMB 24,840,200 of self-raised funds with raised funds for pre-invested projects, which was approved by the board of directors and verified by auditors[133] Subsidiary Performance - Saint Jiu Forging Co., Ltd. achieved a total revenue of 1,086.47 million yuan, a year-on-year increase of 38.76%[142] - Saint Jiu Forging Co., Ltd. reported a net profit of 103.11 million yuan, a year-on-year increase of 77.49%[142] Strategic Planning and Risks - The company's strategic planning and execution are scientifically sound, with a focus on technological innovation and market transformation, enhancing the synergy between parent and subsidiary businesses[56] - The company aims to enhance its core competitiveness by leveraging the issuance of convertible bonds to enrich and improve its product structure[146] - The company faces risks from fluctuations in raw material prices, particularly for steel billets, ingots, and forgings, which account for a significant portion of production costs[148] - The company is exposed to operational risks due to the use of natural gas and high-temperature processes in its subsidiary, Saint Jiu Forging Co., Ltd.[155] - The company anticipates potential delays in order delivery and revenue recognition due to the impact of the COVID-19 pandemic on logistics and product acceptance[156] - The company acquired a 55% stake in Haozhi Machinery for 176 million yuan in 2020, with a risk of goodwill impairment if Haozhi Machinery's performance does not meet expectations[152] Investor Relations - The company held multiple investor communication activities throughout 2021, including online performance briefings and on-site research visits, with detailed records available on

洛阳新强联回转支承股份有限公司 2022 年第一季度报告全文 证券代码：300850 证券简称：新强联 公告编号：2022-033 洛阳新强联回转支承股份有限公司 2022 年第一季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 重要内容提示: 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.第一季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (一)主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | --- | --- | --- | --- | |-----------------------------------------------------|------------------|------------------|---------------------------| | | ...

Revenue and Profitability - Revenue for Q3 2021 was CNY 639,099,523.65, a decrease of 16.84% compared to the same period last year[5] - Net profit attributable to shareholders for Q3 2021 was CNY 224,638,669.12, an increase of 41.72% year-on-year[5] - Basic earnings per share for Q3 2021 was CNY 1.22, reflecting a growth of 27.08% compared to the previous year[5] - Operating revenue increased by 44.94% to CNY 1,899,776,434.90, driven by growth in wind power product sales[13] - Net profit for the period was ¥399,922,502.42, compared to ¥258,823,335.02 in the previous period, reflecting an increase of approximately 55%[37] - The net profit attributable to the parent company for the current period is approximately CNY 399.92 million, compared to CNY 258.82 million in the previous period, representing a significant increase[40] Assets and Liabilities - Total assets at the end of Q3 2021 reached CNY 5,653,900,241.50, representing a 69.43% increase from the end of the previous year[7] - The company's equity attributable to shareholders reached ¥3,321,207,276.09, compared to ¥1,513,419,494.07 in the previous period, representing a growth of approximately 120%[34] - The total liabilities of the company were ¥2,332,692,965.41, compared to ¥1,823,616,929.57, reflecting an increase of approximately 28%[34] - Non-current liabilities totaled ¥737,983,557.60, up from ¥675,935,926.47, indicating an increase of about 9%[34] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 512,487,013.67, a decline of 230.05% compared to the same period last year[5] - The company reported a cash inflow of CNY 7.56 million from tax refunds, which is an increase from CNY 2.26 million in the previous period[44] - Total cash inflow from investment activities is CNY 204.25 million, while cash outflow is CNY 1.45 billion, resulting in a net cash outflow of approximately CNY 1.25 billion[47] - Cash inflow from financing activities totals approximately CNY 2.19 billion, compared to 525.30 million in the previous period, indicating a strong increase in financing[47] - The net cash flow from financing activities is approximately CNY 1.63 billion, a significant improvement from a net outflow of CNY 59.68 million in the previous period[47] Investments and Financial Assets - Trading financial assets increased by 425.41% to CNY 1,066,940,074.95 due to the purchase of CNY 800 million in structured deposits[10] - Long-term equity investments reached CNY 145,000,000.00, marking a 100% increase attributed to subsidiary investments[13] - Investment income reached CNY 4,070,920.60, a 100% increase due to dividends from investments[13] Shareholder Equity and Capital - Shareholders' equity attributable to the parent company was CNY 3,321,207,276.09, up 119.45% year-on-year[7] - The company’s capital reserve grew by 216.27% to CNY 1,993,002,532.39, resulting from the issuance of new shares[13] - The company issued 13,746,351 shares to specific investors, which were listed on the Shenzhen Stock Exchange on August 24, 2021[27] Operational Changes and Strategies - The company completed the absorption merger of its wholly-owned subsidiary, improving resource integration and asset utilization efficiency[25] - The company plans to continue expanding its market presence and enhancing product development strategies[25] - The company is actively promoting the related work of the absorption merger[27] Other Financial Metrics - Financial expenses surged by 465.67% to CNY 55,170,112.36, mainly due to increased interest from subsidiary financing[13] - Research and development expenses were ¥78,132,161.92, compared to ¥64,392,116.03 in the previous period, showing a growth of about 21%[37] - Deferred tax assets increased by 102.99% to CNY 30,453,172.53, primarily due to an increase in credit impairment provisions[13] Current Assets and Inventory - As of September 30, 2021, the company's total current assets amounted to approximately 4.00 billion RMB, an increase from 2.37 billion RMB at the end of 2020[28] - The company's cash and cash equivalents were approximately 953.80 million RMB, slightly down from 965.31 million RMB at the end of 2020[28] - The company's accounts receivable increased significantly to approximately 1.02 billion RMB from 400.76 million RMB in the previous year[28] - Inventory decreased to approximately 318.86 million RMB from 350.22 million RMB at the end of 2020[28] Audit and Investor Confidence - The company has not undergone an audit for the third quarter report, which may impact investor confidence[50]

Financial Performance - The company's operating revenue for the first half of 2021 was RMB 1,260,676,911.25, representing a 132.48% increase compared to RMB 542,275,496.68 in the same period last year[30]. - The net profit attributable to shareholders of the listed company was RMB 175,283,833.30, up 74.73% from RMB 100,315,856.66 in the previous year[30]. - The net profit after deducting non-recurring gains and losses was RMB 222,847,866.32, which is a 123.82% increase from RMB 99,566,751.01 in the same period last year[30]. - The basic earnings per share increased by 31.08% to RMB 0.97 from RMB 0.74 in the previous year[30]. - The total assets at the end of the reporting period were RMB 3,903,370,480.95, reflecting a 16.97% increase from RMB 3,337,036,423.64 at the end of the previous year[30]. - The net assets attributable to shareholders of the listed company were RMB 1,645,661,344.15, an increase of 8.74% from RMB 1,513,419,494.07 at the end of the previous year[30]. - The company reported a net cash flow from operating activities of RMB -201,333,649.06, a decrease of 146.80% compared to RMB 430,229,696.84 in the previous year[30]. - The weighted average return on equity was 11.00%, down from 14.40% in the previous year, a decrease of 3.40%[30]. Research and Development - The company has developed key products such as wind turbine main shaft bearings and shield machine bearings, breaking the long-standing foreign monopoly in this field[40]. - The company has a leading position in the R&D and manufacturing of heavy-duty turntable bearings with a diameter of over 6 meters in China[40]. - The company has invested significantly in R&D, with several technologies achieving international or domestic leading levels, including awards for its innovations in shield machine bearings and direct-drive wind turbine bearings[49]. - Research and development investment rose to ¥51,517,278.54, marking a 71.07% increase compared to the previous year, indicating a commitment to innovation[59]. - The company is increasing investment in technology research and development to improve product competitiveness and market presence[107]. Market and Operational Strategy - The company is focused on expanding its market presence and enhancing its high-value business structure through deepening cooperation with existing clients and exploring new markets[45]. - The company’s complete industrial chain layout enhances profitability and market share while mitigating risks from raw material price fluctuations[52]. - The company has established stable relationships with leading domestic enterprises, ensuring good growth potential and sustainability for future development[53]. - The company is actively exploring new profit growth points in offshore wind power and large slewing bearings markets[101]. - Future outlook indicates a focus on market expansion and potential mergers and acquisitions to enhance growth strategies[197]. Financial Management - The company has not disclosed any new product or technology developments, market expansion, or mergers and acquisitions in the report[30]. - The company plans not to distribute cash dividends or issue bonus shares for the reporting period[7]. - The total investment amount for the reporting period was 0.00 yuan, a decrease of 100.00% compared to 38,780,000.00 yuan in the same period last year[71]. - The company has not engaged in any derivative investments during the reporting period[93]. - The company has not reported any overdue amounts or impairment risks related to entrusted financial management[92]. - The company has not made any significant non-equity investments during the reporting period[71]. - The company has not reported any changes in the feasibility of investment projects during the reporting period[87]. Shareholder Information - The company completed a private placement of 13,746,351 shares, which were listed on the Shenzhen Stock Exchange on August 24, 2021[150]. - The total share capital increased from 106,000,000 shares to 180,200,000 shares after a capital increase of 74,200,000 shares[159]. - The company distributed a cash dividend of RMB 4.10 per 10 shares, totaling RMB 43,460,000, and conducted a capital reserve transfer of 74,200,000 shares[161]. - The company’s net asset per share attributable to ordinary shareholders increased from RMB 8.40 to RMB 9.13[161]. - The total number of common shareholders at the end of the reporting period was 10,897[169]. Risk Management - The company faces risks from macroeconomic fluctuations and high customer concentration, with the top five customers accounting for a substantial portion of revenue[104]. - The company is implementing measures to mitigate risks from raw material price fluctuations, which significantly impact gross margins[103]. - The company emphasizes safety management and risk control to prevent production-related accidents[108]. Environmental and Legal Compliance - The company and its subsidiaries are not classified as key pollutant discharge units by the environmental protection department[117]. - There were no administrative penalties due to environmental issues during the reporting period[118]. - The company has adhered to national environmental protection laws and regulations without any violations during the reporting period[118]. - The company has not experienced any major litigation or arbitration matters during the reporting period[128].