YINLUN(SZ:002126)2021-08-27 16:00Financial Performance - The company's operating revenue for the reporting period was approximately ¥4.05 billion, representing a 34.72% increase compared to the same period last year[29]. - The net profit attributable to shareholders decreased by 13.86% to approximately ¥175.37 million, down from ¥203.59 million in the previous year[29]. - The net cash flow from operating activities improved significantly, reaching approximately ¥77.86 million, a 195.88% increase from a negative cash flow of ¥81.20 million in the same period last year[29]. - Total assets increased by 17.24% to approximately ¥11.56 billion, compared to ¥9.86 billion at the end of the previous year[29]. - The net assets attributable to shareholders rose by 9.16% to approximately ¥4.30 billion, up from ¥3.94 billion at the end of the previous year[29]. - The company's operating revenue for the reporting period reached ¥4,054,475,035.96, representing a year-on-year increase of 34.72% due to the release of pre-ordered production in the passenger car sector, particularly in new energy vehicles[77]. - The gross profit margin for the heat exchanger segment was 20.72%, with operating revenue of ¥3,328,416,453.94, which increased by 37.35% compared to the previous year[85]. - The company reported a decrease in sales expenses by 6.10% to ¥134,035,075.55, attributed to the reclassification of certain costs to operating expenses[77]. Research and Development - The company reported a focus on internal improvements and technological R&D to enhance product competitiveness and promote sustainable development[7]. - The company emphasizes technological innovation and new product development, with a commitment to enhancing its R&D capabilities[54]. - The company has established R&D centers in Shanghai, Europe, and North America, contributing to its competitive edge in technology and product quality[56]. - As of June 2021, the company holds over 700 patents, including 81 invention patents and 5 international patents, demonstrating its strong R&D capabilities[70]. - Research and development investment amounted to ¥163,422,528.80, reflecting a 33.66% increase year-on-year, driven by the growth of new energy-related projects[77]. - The company focuses on technological innovation in the fields of new energy vehicle thermal management and air conditioning systems, establishing partnerships with several prestigious universities[70]. Market Strategy and Clientele - The company has established production bases and R&D centers in various locations, including North America and Europe, to support its international strategy[40]. - Major clients in the new energy vehicle sector include Volvo, Porsche, and NIO, indicating a strong market presence[52]. - The company has established a global production layout to meet customer demands, with subsidiaries and production bases in multiple regions including the US, Sweden, and Poland[59]. - The company has received significant orders in the new energy and commercial vehicle sectors, with projected annual sales revenue of nearly 2.92 billion yuan from new projects, of which approximately 66% will come from new energy business[66]. - The company is expanding its business into emerging fields such as intelligent driving and photovoltaic energy storage, providing long-term growth opportunities[75]. Environmental and Social Responsibility - Zhejiang Yinlun Machinery Co., Ltd. reported a total emission of 24.644 tons of COD, well below the approved limit of 122.1 tons[123]. - The company achieved a nitrogen emission of 2.6 tons, significantly under the approved limit of 2.298 tons[123]. - The wastewater treatment facility has a capacity of 100 tons per hour, operational since March 2012, ensuring compliance with environmental standards[126]. - The company has invested over 1.1 million RMB in supporting local tea industry development, increasing cultivated area from 82 acres to over 1,000 acres[133]. - A total of 610,000 RMB was donated during the reporting period, including 410,000 RMB to the local charity association[134]. - The company has established multiple funds for education and healthcare, including the Tianyi Foundation to support local medical services[134]. - The company collaborates with local suppliers to enhance their management and operational capabilities, benefiting over 40 suppliers[133]. - The company has implemented advanced air pollution control technologies since 2008, ensuring compliance with emission standards[126]. - The company is committed to developing green technologies, including systems for new energy vehicles and waste heat recovery[132]. Financial Management and Investments - The total cash and cash equivalents increased by 739.32% to ¥487,816,929.62, mainly due to funds raised from the public issuance of convertible bonds[81]. - The company has implemented a second employee stock ownership plan, with 410 participants holding 8,130,039 shares, accounting for 1.03% of the total share capital[67]. - The total transaction amount for the employee stock plan was ¥63,284,405.26, with an average purchase price of approximately ¥7.78 per share[118]. - The company has not engaged in derivative investments during the reporting period[100]. - The company has not engaged in any major litigation or arbitration matters during the reporting period[149]. - The company has not entered into any leasing agreements during the reporting period[161]. - The company reported zero external guarantees approved or executed during the reporting period[160]. - The total approved guarantee amount for subsidiaries during the reporting period is CNY 84,775 million[168]. - The actual guarantee amount incurred for subsidiaries during the reporting period is CNY 39,383.23 million[168]. - The total actual guarantee amount represents 9.16% of the company's net assets[169]. Risks and Challenges - The company is affected by changes in the domestic and international economic environment, market competition, raw material price fluctuations, and exchange rate volatility[7]. - The company faces macroeconomic fluctuations that could affect orders and performance, particularly in the commercial vehicle and new energy vehicle sectors[105]. - Raw material costs, which account for approximately 80% of the main business costs, pose a risk due to price volatility of metals like aluminum, steel, and copper[106]. - The automotive parts manufacturing industry is highly competitive, and the company must enhance product competitiveness to maintain market share[107]. - Exchange rate fluctuations may impact the company's international competitiveness, especially as products are sold in USD and EUR[108].