恒帅股份(300969) - 2025 Q2 - 季度财报

Part I Important Notice, Table of Contents, and Definitions Important Notice The Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report content, with forward-looking statements not constituting profit forecasts or substantial commitments - The company's Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report content[4] - Forward-looking statements regarding future development plans are subject to uncertainties and do not constitute profit forecasts or substantial commitments to investors[4] - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital[5] Table of Contents This section outlines the report's overall structure, comprising eight main chapters covering important notices, company profile, management discussion and analysis, corporate governance, significant matters, share changes, bond information, and financial reports - The report contains eight main chapters, clearly structured for investor review[7] Definitions This section defines common terms used in the report, including company and subsidiary names, regulatory bodies, financial units, and automotive industry-specific terminology, ensuring accurate understanding of the report's content - The reporting period refers to January 1, 2025, to June 30, 2025[14] - The company's wholly-owned subsidiaries include Qingyuan Hengshuai, Shenyang Hengshuai, Hengshuai Automotive Inc. (USA), Tongning Electronics, Wuhan Hengshuai, Hengshuai Industry (Thailand) CO.,LTD., and Hengshuai (Singapore) PTE.LTD.[14] Part II Company Profile and Key Financial Indicators Company Profile Ningbo Hengshuai Co., Ltd. (Stock Abbreviation: Hengshuai Shares, Stock Code: 300969) is listed on the Shenzhen Stock Exchange, with Xu Ningning as its legal representative - Company stock abbreviation: Hengshuai Shares, stock code: 300969, listed on: Shenzhen Stock Exchange[16] - The company's legal representative is Xu Ningning[16] Contact Persons and Information This section provides contact information for the Company Secretary, Liao Weiming, and Securities Affairs Representative, Jiang Yu, including address, phone, fax, and email, to facilitate investor communication - The Board Secretary is Liao Weiming, and the Securities Affairs Representative is Jiang Yu, with contact phone and fax both 0574-87050870[17] Other Information During the reporting period, there were no changes in the company's registered address, office address, website, email, information disclosure and placement locations, or registration status. In April 2025, the company implemented its 2024 profit distribution plan, including cash dividends and capital reserve capitalization, increasing total share capital to 112 million shares - The company's registered address, office address, information disclosure and placement locations, and registration status remained unchanged during the reporting period[18][19][20] - The company's 2024 equity distribution plan was: a cash dividend of 4.0 yuan (tax inclusive) per 10 shares, and a capitalization of 4 shares per 10 shares from capital reserves[22] - After the equity distribution, the company's total share capital increased from 80 million shares to 112 million shares[22] Key Accounting Data and Financial Indicators During the reporting period, the company's operating revenue and net profit both decreased year-on-year, with net profit attributable to shareholders of listed companies falling by 26.79%. Total assets and net assets attributable to shareholders of listed companies increased Key Accounting Data and Financial Indicators (Year-on-Year Change) | Indicator | Current Period (yuan) | Prior Period (yuan) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 428,351,970.14 | 462,868,254.66 | -7.46% | | Net Profit Attributable to Parent Company Shareholders | 84,655,428.72 | 115,637,586.72 | -26.79% | | Net Profit Attributable to Parent Company Shareholders After Deducting Non-Recurring Gains/Losses | 75,467,520.20 | 108,457,435.26 | -30.42% | | Net Cash Flow from Operating Activities | 86,706,566.42 | 101,180,140.87 | -14.30% | | Basic Earnings Per Share (yuan/share) | 0.76 | 1.03 | -26.21% | | Diluted Earnings Per Share (yuan/share) | 0.76 | 1.03 | -26.21% | | Weighted Average Return on Net Assets | 6.41% | 10.07% | -3.66% | Key Accounting Data and Financial Indicators (Period-End Change) | Indicator | Current Period-End (yuan) | Prior Year-End (yuan) | Period-End vs. Prior Year-End Change | | :--- | :--- | :--- | :--- | | Total Assets | 1,908,066,800.65 | 1,575,683,629.51 | 21.09% | | Net Assets Attributable to Parent Company Shareholders | 1,337,954,736.21 | 1,283,015,193.54 | 4.28% | Differences in Accounting Data under Domestic and Overseas Accounting Standards During the reporting period, there were no differences in net profit and net assets disclosed in financial reports under International Accounting Standards or overseas accounting standards compared to Chinese Accounting Standards - The company reported no differences in net profit and net assets under domestic and overseas accounting standards[24][25] Non-Recurring Gains and Losses Items and Amounts During the reporting period, the company's total non-recurring gains and losses amounted to 9.19 million yuan, primarily from government grants, fair value changes of financial assets, and gains/losses from disposal of financial assets and liabilities Non-Recurring Gains and Losses Items and Amounts | Item | Amount (yuan) | Description | | :--- | :--- | :--- | | Government grants recognized in current profit or loss | 4,941,961.00 | Excluding government grants closely related to the company's normal business operations, compliant with national policies, enjoyed according to established standards, and having a continuous impact on the company's profit or loss | | Fair value changes and disposal gains/losses from financial assets and liabilities held by non-financial enterprises, excluding effective hedging activities related to normal business operations | 5,878,521.82 | | | Other non-operating income and expenses apart from the above | -9,534.83 | | | Less: Income tax impact | 1,623,039.47 | | | Total | 9,187,908.52 | | Part III Management Discussion and Analysis Main Business Activities During the Reporting Period The company specializes in R&D, production, and sales of automotive motor and fluid technology products, aiming to be a global leader in automotive motor technology solutions. Business is divided into motor, electric module, driving vision cleaning system, and thermal management system segments. The company possesses synchronous R&D capabilities with clients and actively invests in intelligent driving and new energy vehicles - The company's main business is the R&D, production, and sales of automotive motor and fluid technology products, aiming to be a global leader in the automotive motor technology solutions industry[29] - Business is divided into four units: motor business, electric module business, driving vision cleaning system, and thermal management system business[29] - The company possesses synchronous R&D capabilities with clients, providing system solutions for automation, intelligence, and clear vision applications[29] Main Business and Products The company's fluid technology products include driving vision cleaning systems (including ADAS sensor cleaning) and thermal management systems (including cooling manifolds, electronic water pumps), with cleaning product revenue decreasing by 7.33% year-on-year. Motor technology products include tailgate and side door motors, fan motors, and electric modules like invisible door handle actuators and charging port actuators, with motor product revenue decreasing by 5.77% year-on-year. The company has made breakthroughs in harmonic magnetic field motor technology and new magnetic materials, applying them to new fields such as humanoid robots - Driving vision cleaning system business includes automotive washer pumps, cleaning system products, and active perception cleaning systems for intelligent vehicle Advanced Driver-Assistance Systems (ADAS) sensors[30] - Thermal management system business includes cooling manifolds and electronic water pumps for new energy vehicle thermal management systems[30] Fluid Technology Product Revenue | Product Type | 2025 H1 Revenue (10,000 yuan) | Year-on-Year Decrease | | :--- | :--- | :--- | | Cleaning Products | 20,079.08 | 7.3