ShenzhenTopbandCo.,Ltd.
AnnualReport2023
[Dateofdisclosure]
March2024
AnnualReport2023
SectionIImportantNotes,ContentsandInterpretationsTheBoardofDirectors,theBoardofSupervisorsanddirectors,supervisorsandseniorexecutivesoftheCompanyherebyguaranteethatthecontentsetoutintheAnnualReportisfreefromfalserecords,misleadingstatementsormajoromissions,andundertakejointandseveralliabilitiesfortheauthenticity,accuracyandintegrityofthereport.WuYongqiang,theprincipaloftheCompany,LuoMuchen,theaccountinghead,andLuoMuchen,theaccountingdepartmenthead(theaccountantincharge)herebyguaranteethetruth,accuracyandcompletenessofthefinancialstatementsinthisAnnualReport.AlldirectorshaveattendedtheBoardMeetingatwhichthisAnnualReportwasdeliberated.Forward-lookingstatementssuchasfutureplansanddevelopmentstrategiescoveredintheReportinvolveuncertainty,sotheydonotrepresenttheCompany'sprofitforecasts,noraretheyregardedasthesubstantivecommitmenttoinvestors.
Topbandhasnomaterialrisksthataffectitsfinancialpositionandsustainedprofitability,andthepossiblerisksintheoperationoftheCompanyaredescribedindetailinSectionIII"ManagementDiscussionandAnalysis"oftheReport.Investorsarekindlyremindedtopayattentiontorelevantcontent.TheprofitdistributionplanapprovedbytheBoardofDirectorsoftheCompany:cashdividendsofRMB0.6(taxinclusive)per10sharesarepaidtoallshareholdersbasedonthe1,229,476,988shares(excludingtherepurchasedsharesandrestrictedsharestobecanceled),0sharesofbonusshares(taxinclusive),andreserveswouldnotbeconvertedintosharecapital.IftheCompany'stotalsharecapitalchangesbeforetheimplementationoftheprofitdistributionplanduetosharerepurchase,cancellationofrestrictedsharesorotherreasons,thetotaldistributionamountwillbeadjustedaccordinglybasedontheprincipleofmaintainingthesamedistributionratiopershare.
TheReportispreparedinChineseandtranslatedintoEnglish.Shouldtherebeany
discrepanciesormisunderstandingsbetweenthetwoversions,theChineseversionshallprevail.
Chairman'sStatement
Dearshareholders,partners,andallfriendsconcerningaboutTopband,
ThankyouforyourcontinuousattentionandfirmsupporttoTopband.In2023,wewerefacedwithmultiplechallengessuchasdemandandindustryinventory,butweremainedconfidentinthefuturedevelopmentprospectsoftheindustry,increasedR&Dinvestmentinkeynewareasandacceleratedourimplementationofoverseasbusinesses,layingasolidfoundationforgrowthinthefuturewhilerealizingsoundandhealthyoperations.In2023,werealizedoperatingincomeofRMB8.992billion,up1.32%YoY,andnetprofitofRMB512million,up5.76%YoY.Ourproductcompetitivenessandinternalefficiencywereimproved,witha2.17%YoYincreaseingrossprofitmargin.Inaddition,wemadethreekeyadvances:
I.Reducedcostsandincreasedefficiency,withtheoperationalefficiencyandsignificantlyimproved.Weclearlysetoutourstrategytoreducecostsandincreaseefficiencyin2023.Alldepartmentsworkedtogetherandeffectivelycontrolledthecostsofrawmaterialsandvariousexpenses,significantlyreducingthetotalcosts.Meanwhile,theinventorydroppedsignificantlyandtheinventoryturnoverwasimproved,significantlyimprovingourhealthindicatorsandoperationalefficiency.
II.Technologicalinnovationforhigh-valuegrowth.In2023,withourexistingtechnologyandproductplatforms,westrengthenedourmachineandsystemsolutioncapabilitiesandincreasedthevaluevolumeofourproducts.Wealsoaccuratelyidentifiedmarketdemandsandenhancedthevaluechainbyself-definedproducts.In2023,weincreasedR&Dinvestmentandbusinessintegrationinthenewenergybusinesssegment,andlaunchedmanynewproductsthatareautonomousandcontrollable,representedbyDCchargingpilesandall-in-oneindustrialandcommercialstorageproducts.Thiswilldriveourfuturegrowthandbecomeourthirdgrowthcurve.
III.Internationallayoutwithhighlightedoverseasstrengths.Afteryearsofinternationalstrategyimplementationandpromotion,theVietnamandIndiabaseshaveachievedlarge-scalemassproductionandstableoperation,withexcellentprofitability.TheRomanianandMexican
baseshaverealizedmassproduction,markingoursignificantbreakthroughsinoverseasmarkets.
Wealwaysbelievethatthe"intelligent,low-carbonandinternational"long-termtrendremainsunchanged.TheCompanyisabouttoseemajordevelopmentopportunitiesinthecontextoftheemergenceofsmartproducts,thetransformationfromtheoldeconomytothenewoneandtheincreaseininternationalmarketdemand.In2024,wewillfocusonthefollowingthreestrategicpriorities.First,accelerateoverseasmarketing.Morethanhalfofourbusinesscomesfromoverseasmarkets.Basedonthesuccessof"manufacturingexports",wewillaccelerate"marketexpansionoverseas".In2024,wewillaskthemarketingteamtoactivelyexpandthemarketoverseas.Weshallnotonlyseizetheopportunityofordertransfer,butalsodevelopthedemandinthelocalmarkettobuildTopbandintoatrulyinternationalfirm.
Second,acceleratethedevelopmentofnewenergybusiness.Asourgrowthdriver,newenergybusinessgreatlyreliesonourtechnologicaladvantagesinbatteries,powersources,electroniccontrolandmotors,focusesonenergystorageandcharging,andprovidesself-definedproductsandcustomizedsolutions.Wewillfurtherconcentrateourresourcestocreateaproductmatrixandbuildaunifiedmarketplatformforrapiddevelopment.
III.Acceleratethecreationofcompetitiveintelligentproductsandtheirapplicationinemergingindustries.WiththerapiddevelopmentofAIandhumanoidrobotics,theintelligentindustryhasusheredinunprecedenteddevelopmentopportunities.Asanenterprisewithmorethan20yearsoftechnologyaccumulation,Topbandhasbuiltupstrongcapabilitiesinproductinnovationandimplementation.In2024,wewillbecommittedtodeepeningourinsightintothemarketdemand,anddefiningandcreatingmoreautonomousandcontrollablecoreproducts;atthesametime,wewillfurtherexplorenewindustrialopportunities,especiallyinroboticsandAIapplications.Wewillacceleratethedevelopmentofcoretechnologiessuchasmobilerobots,servodrivesandcontroltechnologiestocreateindustry-leadingcompetitiveproducts,andactivelydeveloptopcustomersinindustries.
Finally,Iwouldliketoexpressmythankstoallshareholdersandpartnersfortheirtrustandsupport.Wewillcontinuetooffercustomerswithexcellentproductsandservices,andto
contributetobuildamore"intelligentandlow-carbon"world.IbelieveourjointeffortswillhelpTopbandrealizegrowthin2024again.
PresidentofShenzhenTopbandCo.,Ltd.
March27,2024
Contents
SectionIImportantNotes,ContentsandInterpretations ...... 2
SectionIICompanyProfileandPrimaryFinancialIndicators ...... 10
SectionIIIManagementDiscussionandAnalysis ...... 17
SectionIVCorporateGovernance ...... 66
SectionVEnvironmentalandSocialResponsibility ...... 103
SectionVIImportantMatters ...... 105
SectionVIIShareChangeandShareholders ...... 117
SectionVIIIInformationonPreferredShares ...... 127
SectionIXRelevantInformationofBonds ...... 128
SectionXFinancialReport ...... 129
Directoryofdocumentsforfuturereference
I.ThefinancialstatementsbearingthesignatureandsealoftheprincipaloftheCompany,theaccountingheadandtheaccountingdepartmenthead.II.Theoriginalauditreportbearingthesealoftheaccountingfirmandthesignatureandsealofthecertifiedpublicaccountant.III.TheoriginalsofallthecompanydocumentspubliclydisclosedinnewspapersdesignatedbytheCSRCduringtheReportingPeriodandtheoriginalmanuscriptsofannouncements.IV.TheoriginaloftheAnnualReport2023bearingthesignatureoftheChairman.V.Alltheabovedocumentsarecomplete,andareavailableforreferenceattheofficeoftheBoardofDirectorsoftheCompany.
Interpretations
Terms | Referto | Contents |
Company,theCompany,Topband | Referto | ShenzhenTopbandCo.,Ltd. |
RMB,RMBtenthousand | Referto | RMB,RMBtenthousand |
CSRC | Referto | ChinaSecuritiesRegulatoryCommission |
Exchange | Referto | ShenzhenStockExchange |
ReportingPeriod | Referto | January1,2023-December31,2023 |
ArticlesofAssociation | Referto | ArticlesofAssociationofShenzhenTopbandCo.,Ltd. |
HuizhouTopband | Referto | HuizhouTopbandElectricalTechnologyCo.,Ltd. |
YAKOAutomation | Referto | ShenzhenYAKOAutomationTechnologyCo.,Ltd. |
SZACS | Referto | ShenzhenAlliedControlSystemCo.,Ltd. |
TopbandSoftware | Referto | ShenzhenTopbandSoftwareTechnologyCo.,Ltd. |
ORVIBO | Referto | ShenzhenORVIBOTechnologyCo.,Ltd. |
NingboTopband | Referto | NingboTopbandIntelligentControlCo.,Ltd. |
MeanstoneIntelligent | Referto | ShenzhenMeanstoneIntelligentTechnologyCo.,Ltd. |
HANSCIntelligent | Referto | ShenzhenHANSCIntelligentTechnologyCo.,Ltd. |
HongKongTopband | Referto | Topband(HongKong)Co.,Ltd. |
TopbandRomania | Referto | TopbandSmartEuropeCompanyLimitedS.R.L. |
TopbandMexico | Referto | TopbandMexicoCompanyLimited |
TopbandBattery | Referto | ShenzhenTopbandBatteryCo.,Ltd. |
NinghuiLithiumBattery | Referto | TaixingNinghuiLithiumBatteryCo.,Ltd. |
HVAC | Referto | Heating,VentilationandAirConditioning |
IOT | Referto | InternetofThings |
AI | Referto | ArtificialIntelligence |
BLDCMotor | Referto | BrushlessDCMotor |
BGandBU | Referto | BusinessGroupandBusinessUnit |
IPD | Referto | IntegratedProductDevelopment |
ISC | Referto | IntegratedSupplyChain |
PLC | Referto | ProgrammableLogicController |
AIGC | Referto | ArtificialIntelligenceGeneratedContent |
1C1C3S | Referto | Cell,cloudplatform,BMS,PCS,EMS |
GPT | Referto | AnInternet-based,data-trainedandtext-generateddeeplearningmodel(GenerativePre-TrainedTransformer) |
BERT | Referto | Alanguagerepresentationmodel(BidirectionalEncoderRepresentationsfromTransformers) |
SectionIICompanyProfileandPrimaryFinancialIndicatorsI.Companyinformation
Stockabbreviation | Topband | Stockcode | 002139 |
Listedstockexchange | ShenzhenStockExchange | ||
ChinesenameoftheCompany | ShenzhenTopbandCo.,Ltd. | ||
ChineseabbreviationoftheCompanyname | Topband | ||
NameoftheCompanyinforeignlanguage(ifany) | ShenzhenTopbandCo.,Ltd. | ||
AbbreviationoftheCompanynameinforeignlanguage(ifany) | Topband | ||
LegalrepresentativeoftheCompany | WuYongqiang | ||
Registeredaddress | Address:F1,TopbandIndustrialParkPhaseII,KejiSecondRoad,TangtouCommunity,ShiyanSub-district,Bao'anDistrict,Shenzhen | ||
Postalcodeofregisteredaddress | 518108 | ||
ChangesoftheCompany'sregisteredaddress | TheregisteredaddressoftheCompanyischangedfrom"Room413,BlockB,ResearchInstituteofTsinghuaUniversity,High-techIndustrialPark,YuehaiSub-district,NanshanDistrict,Shenzhen"to"F1,TopbandIndustrialParkPhaseII,KejiSecondRoad,TangtouCommunity,ShiyanSub-district,Bao'anDistrict,Shenzhen". | ||
Officeaddress | TopbandIndustrialPark,KejiSecondRoad,ShiyanSub-district,Bao'anDistrict,Shenzhen | ||
Postalcodeofofficeaddress | 518108 | ||
Website | http://www.topband.com.cn | ||
wenzh@topband.com.cn |
II.Contactpersonandcontactinformation
SecretaryoftheBoardofDirectors | Representativeofsecuritiesaffairs | |
Name | WenZhaohui | ZhangYuhua |
Address | TopbandIndustrialPark,KejiSecondRoad,ShiyanSub-district,Bao'anDistrict,Shenzhen | TopbandIndustrialPark,KejiSecondRoad,ShiyanSub-district,Bao'anDistrict,Shenzhen |
Tel | 0755-26957035 | 0755-26957035 |
Fax | 0755-26957440 | 0755-26957440 |
wenzh@topband.com.cn | zhangyuhua@topband.com.cn |
III.Informationdisclosureandstorageplace
WebsiteofthestockexchangewheretheCompanydisclosestheAnnualReport | http://www.cninfo.com.cn |
NameandwebsiteofthemediawheretheCompanydisclosestheAnnualReport | SecuritiesTimesandCNINFO(http://www.cninfo.com.cn) |
LocationwheretheCompany'sannualreportisavailable | OfficeoftheBoardofDirectorsoftheCompany |
IV.Changesinregistration
Unifiedsocialcreditcode | 91440300192413773Q |
ChangesinthemainbusinessoftheCompanysincelisting(ifany) | Nochanges |
Previouschangesincontrollingshareholders(ifany) | Nochanges |
V.Otherrelevantinformation
AccountingfirmengagedbytheCompany
Nameofaccountingfirm | BAKERTILLYInternationalAccountingFirm(SpecialGeneralPartnership) |
Officeaddressofaccountingfirm | AreaA-1andA-5,Building68,No.19,ChegongzhuangWestRoad,HaidianDistrict,Beijing |
Nameofaccountants | ChenZhigang,ZhaoYang,LiuZhaoyu |
SponsorinstitutionengagedbytheCompanytoperformongoingsupervisorydutiesduringtheReportingPeriod
□Applicable?NotapplicableFinancialconsultantengagedbytheCompanytoperformongoingsupervisorydutiesduringtheReportingPeriod
□Applicable?Notapplicable
VI.Mainaccountingdataandfinancialindicators
WhethertheCompanyisrequiredtoretroactivelyadjustorrestatetheaccountingdataofpreviousyears?Yes□NoReasonsforretrospectiveadjustmentsorrestatementsChangesinaccountingpolicies
2023 | 2022 | Increaseordecreasecomparedwiththepreviousyear | 2021 | ||||
Beforeadjustment | Afteradjustment | Afteradjustment | Beforeadjustment | Afteradjustment | |||
Operatingincome(RMB) | 8,992,342,169.08 | 8,875,099,137.06 | 8,875,099,137.06 | 1.32% | 7,767,034,835.03 | 7,767,034,835.03 | |
Netprofitattributabletoshareholdersoflistedcompanies(RMB) | 515,513,995.18 | 582,655,258.38 | 583,000,286.76 | -11.58% | 564,964,282.18 | 564,964,282.18 | |
Netprofitattributabletoshareholdersoflistedcompaniesafterdeductingnon-recurringprofitandloss(RMB) | 511,919,208.82 | 483,703,060.80 | 484,048,089.18 | 5.76% | 432,038,218.88 | 432,038,218.88 | |
Netcashflowfromoperatingactivities(RMB) | 1,465,948,499.18 | 491,055,076.33 | 491,055,076.33 | 198.53% | -224,562,545.86 | -224,562,545.86 | |
Basicearningspershare(RMB/share) | 0.41 | 0.46 | 0.46 | -10.87% | 0.47 | 0.47 | |
Dilutedearningspershare(RMB/share) | 0.41 | 0.46 | 0.46 | -10.87% | 0.47 | 0.47 | |
Weightedreturnonaverageequity | 8.54% | 10.85% | 10.85% | -2.31% | 13.11% | 13.11% | |
Endof2023 | Endof2022 | ChangeattheendofthecurrentReportingPeriodcomparedwiththeendofthepreviousyear | Endof2021 | ||||
Beforeadjustment | Afteradjustment | Afteradjustment | Beforeadjustment | Afteradjustment | |||
Totalassets(RMB) | 11,184,119,392.80 | 10,364,556,848.34 | 10,385,326,794.56 | 7.69% | 9,606,992,402.39 | 9,606,992,402.39 | |
Netassetsattributabletoshareholdersof | 6,284,917,468.50 | 5,728,523,458.33 | 5,729,233,981.14 | 9.70% | 5,028,315,406.63 | 5,028,315,406.63 |
ReasonsforchangesinaccountingpoliciesChangesintheaccountingpoliciesadoptedbytheCompanyduringtheReportingPeriod:TheMinistryofFinancereleasedandimplementedtheCircularonIssuingInterpretationNo.16ofAccountingStandardsforBusinessEnterprises(hereinafterreferredtoas"InterpretationNo.16")onNovember30,2022,inwhich,therequirementonthe"accountingpracticefordeferredincometaxesrelatedtoassetsandliabilitiesgeneratedbyindividualtransactionswhichshallnotbeexemptedfrominitialconfirmation"shallbeimplementedfromJanuary1,2023.If,atthebeginningoftheearliestperiodofthefinancialstatementstowhichtheInterpretationNo.16appliesforthefirsttime,taxabletemporarydifferencesanddeductibletemporarydifferencesarisefromleaseliabilitiesandright-of-useassetsrecognizedasaresultofasingletransactiontowhichtheInterpretationNo.16applies,aswellasfromrecognizedprojectedliabilitiesrelatedtoabandonmentobligationsandrelatedassets,theCompanywilladjustthecumulativeeffectstotheopeningretainedearningsandotherrelatedfinancialstatementitemsintheearliestperiodforwhichthefinancialstatementsarepresentedinaccordancewiththeprovisionsoftheInterpretationNo.16andthoseoftheAccountingStandardsforBusinessEnterprisesNo.18-IncomeTaxes.
TheCompany'snetprofitbeforeandafterdeductingthenon-recurringprofitandloss(whicheverislower)isnegativeinthelastthreefiscalyears,andtheauditreportofthelatestyearshowsthattheuncertaintyintheCompany'ssustainableoperationability
□Yes?No
Thenetprofitbeforeandafterdeductingthenon-recurringprofitandloss(whicheverislower)isnegative
□Yes?NoVII.Differencesinaccountingdataunderdomesticandforeignaccountingstandards
(1)DifferencesinnetprofitandnetassetsbetweenfinancialstatementsdisclosedinaccordancewithInternationalAccountingStandardsandthosedisclosedinaccordancewithPRCGAAPatthesametime
□Applicable?NotapplicableThereisnodifferenceinnetprofitandnetassetsbetweenfinancialstatementsdisclosedinaccordancewithInternationalAccountingStandardsandthosedisclosedinaccordancewithPRCGAAPduringtheReportingPeriod.
2.DifferencebetweenthenetprofitandnetassetsinthefinancialstatementsdisclosedinaccordancewithbothforeignaccountingstandardsandChineseaccountingstandardsatthesametime
□Applicable?NotapplicableThereisnodifferenceinnetprofitandnetassetsbetweenfinancialstatementsdisclosedinaccordancewithOverseasAccountingStandardsandthosedisclosedinaccordancewithPRCGAAPduringtheReportingPeriod.VIII.Quarterlyprimaryfinancialindicators
Unit:RMB
Firstquarter | Secondquarter | Thirdquarter | Fourthquarter | |
Operatingincome | 1,995,012,860.06 | 2,261,108,293.66 | 2,105,207,153.51 | 2,631,013,861.85 |
Netprofitattributabletoshareholdersoflistedcompanies | 96,349,704.80 | 161,690,987.36 | 118,356,317.31 | 139,116,985.71 |
Netprofitattributabletoshareholdersoflistedcompaniesafterdeductingnon-recurringprofitandloss | 91,312,201.52 | 162,791,653.28 | 125,264,407.79 | 132,550,946.23 |
Netcashflowfromoperatingactivities | 175,657,147.57 | 352,185,323.61 | 474,191,217.61 | 463,914,810.39 |
Whethertherearemajordifferencesbetweentheabovefinancialindicatorsorthetotalandthefinancialindicatorsinthequarterlyreportandsemi-annualreportdisclosedbytheCompany
□Yes?NoIX.Itemsandamountofnon-recurringprofitandloss
?Applicable□Notapplicable
Unit:RMB
Items | Amountof2023 | Amountof2022 | Amountof2021 | Description |
Profitsandlossesondisposalofnon-currentassets(includingthewrite-offportionoftheprovisionforassetimpairment) | -11,399,766.84 | -3,145,453.49 | -789,236.29 | |
Governmentsubsidiesincludedincurrentprofitsandlosses(exceptthosethatarecloselyrelatedtothenormalbusinessoftheCompany,conformtonationalpoliciesandregulations,areenjoyedaccordingtocertainstandardsandhavealastingimpactontheCompany'sprofitsandlosses) | 32,905,181.89 | 33,217,045.91 | 16,456,682.22 | |
Profitsandlossesduetofairvaluechangesarisingfromthefinancialassetsandliabilitiesheldbythenon-financialbusiness,aswellastheprofitsandlossesarisingfromthedisposaloffinancialassetsandliabilities,exceptfortheeffectivehedgingbusinessrelatedtothenormalbusinessoftheCompany | -1,302,568.51 | 90,812,862.06 | 133,466,036.23 | |
Reversalofprovisionforimpairmentofaccountsreceivablethathasbeenseparatelytestedforimpairment | 120,596.48 | |||
One-timeshare-basedpaymentduetocancellationormodificationofthestockincentiveplan | -28,092,840.35 | |||
Othernon-operatingincomeandexpensesotherthanthosementionedabove | 21,796,444.13 | 373,250.06 | -1,787,714.37 | Includingtheextradeductionsforinputtaxinotherearningsreports |
Otherprofitsandlossesthatconformtothedefinitionofnon-recurringprofitandloss | 1,477,128.99 | 270,112.67 | 9,914,763.48 | Includingthefinancingincome |
Minus:amountaffectedbyincometax | 11,184,636.52 | 22,265,407.68 | 23,726,354.32 | |
Amountaffectedbyminorityshareholders'equity(aftertax) | 604,156.43 | 430,808.43 | 608,113.65 | |
Total | 3,594,786.36 | 98,952,197.58 | 132,926,063.30 | -- |
Detailsofotheritemsofprofitsandlossesthatconformtothedefinitionofnon-recurringprofitandloss:
□Applicable?NotapplicableNone.Explanationofdefiningthenon-recurringprofitandlossitemslistedintheExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic-Non-recurringProfitandLossasrecurringprofitandlossitems
□Applicable?Notapplicable
Thereisnosuchsituationofdefiningthenon-recurringprofitandlossitemslistedintheExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic-Non-recurringProfitandLossasrecurringprofitandlossitemsintheCompany
SectionIIIManagementDiscussionandAnalysisI.IndustrysituationoftheCompanyduringtheReportingPeriod
1.BasicsituationoftheindustryIntelligentcontrollersarehigh-techproductsthatintegratetheautomaticcontroltechnology,computertechnology,sensortechnology,micro-electronicandpowerelectronictechnology.Theyplaytheroleof"nervecenter"and"brain"inelectronicproductsjustlikehumannervessystem.Intelligentcontrollerscanintelligentlydriveandcontroltheobjectsbeingcontrolledbycollecting,processingandanalyzinginformationandinstructions,soastocompletevarioustasks.Thewaveofintelligentsubstitutionhasrevolutionizedthewayweliveandwork.Asoneofthecorecomponentsofintelligence,theintelligentcontrollerhasawiderangeofapplications,includinghouseholdappliances,smarthome,smartbuildings,electrictools,industrialautomation,automotiveelectronics,newenergyandmedicalequipment.
Withthecontinuousintegrationanddevelopmentofnewtechnologiessuchastheartificialintelligence,robotics,InternetofThingsandcloudcomputing,theapplicationofintelligentcontrollershasbeenfurtherexpanded.Forexample,intelligentcontrollersarenowabletopredictandadapttouserbehaviorandneedsincombinationwithAItechnologytoprovidemorepersonalizedservices.Inthefieldofindustrialautomation,intelligentcontrollersarecapableofperformingmorecomplextasksincombinationwithroboticstoimprovetheproductionefficiencyandsafetyandreducecosts.Itshallbenotedthathumanoidrobotsarealsobeginningtowalkintoreallife.Fromfamilyassistantstooperatorsinhigh-riskworkenvironments,humanoidrobotsarecapableofperformingcomplexhumantasksinavarietyofenvironments,andintelligentcontrollersplayavitalroleinthis.
Advancesintechnologynotonlyacceleratetheiterationoftheproducts,butalsoindicatebroaderdevelopmentprospectsoftheintelligentcontrollerindustry.Wearenowstandingonthethresholdofanintelligenttechnologicalrevolution,andtheconvergenceofintelligentcontrollerswithAIandroboticsisreshapingthewayweliveandwork,openingupaworldofpossibilities.Inthefuture,withcontinuoustechnologicalprogressandinnovation,wecanexpectmorenewproducts,newformatsandnewmodels,whichwillfurtherpromotetheprosperityoftheintelligentcontrollerindustry.
2.Positioninindustry
Asaleaderinthefieldofintelligentcontrol,wearenotonlyapioneerinprovidingintelligentcontrolsolutionsworldwide,butalsoasynonymforinnovation.Oursuccessisbasedonadherencetothevaluesof
"Agile·Innovation·Partner"andourrelentlessdrivefortechnologicalinnovation.Wehaveestablishedtheintegratedtechnicalsystemof"fourelectricsandonenetwork"(electroniccontrol,motor,battery,powersourceandIoTplatform),providingcustomizedintelligentcontrolsolutionsforfourindustriesincludingthehomeappliances,tools,newenergyandindustry.Ourcorecompetenceliesinthe"platform-basedtechnologyinnovationcapability,partner-likecustomerservicecapabilityandsystematicrapidresponsecapability".Thecombinationofthethreecapabilitiesnotonlydrivesourcontinuousimprovement,butalsohelpsusbuildcloserelationshipswithmanyindustry-leadingcustomers.Today,asaleaderinprovidingintelligentcontrolsolutionsinthefieldofhomeappliancesandtools,weleadinnovationinthefieldofnewenergyandindustry.Ourleadershipisnotonlyreflectedinmarketshareandtechnologicalinnovation,butmoreimportantly,wehavebecomeakeyforcedrivingtheentireindustryforward.II.MainbusinessengagedbytheCompanyduringtheReportingPeriod
DuringtheReportingPeriod,wefocusedontheR&D,productionandsalesofintelligentcontrolsystemsolutions.Basedonthecoretechnologysystemof"fourelectricsandonenetwork"(electroniccontrol,motor,battery,powersourceandIoTplatform),oursolutionsarewidelyusedinfourmajorindustriesincludingthehomeappliances,tools,newenergyandindustry,providingcustomersaroundtheworldwithinnovative,efficientandreliablecustomizedservices.Wekeepstrengtheningusintechnologicalinnovationandimprovingourkeeninsightandrapidresponsetomarketneeds.Bycontinuouslyoptimizingandupgradingourtechnologyplatform,wearecommittedtoprovidingourcustomerswithmoreintelligentandpersonalizedcontrolsolutionssoastohelpthemachievetechnologicalbreakthroughsandbusinessgrowthintheirrespectivefields.
1.TheCompany'scoretechnology:"electroniccontrol,motor,battery,powersourceandIoTplatform".
1.1Electroniccontroltechnology
IntelligentControlSolutionsApplicationsin"FourIndustries"Homeappliances
Homeappliances | PowerTools | Newenergy |
IndustryAutomation
IndustryAutomationCoretechnologyof"FourElectricsand
OneNetwork"
Coretechnologyof"FourElectricsandOneNetwork" | Electroniccontrol | Motortechnology | Batterytechnology | Powertechnology | ||||
IoTplatform |
Theelectricalcontroltechnologyachievesintelligentcontrolbytakingthemicrocomputerasthecore,involvingmanytechnologiessuchasthesensor,powerelectronics,signalprocessing,communication,interaction,powerandenergyconversion,electromagneticcompatibility,etc.TheCompanyhasprofoundaccumulationinthekeyfieldssuchasautomaticcontrol,human-computerinteraction,embeddedcomputing,machinevision,robotics,intelligentsensorandmotioncontrol.
Wehaveestablishedhundredsofelectroniccontroltechnologyplatforms,whichcanmeettheneedsofproductdiversificationinthefieldofhomeappliances,tools,newenergyandindustry,andourelectroniccontroltechnologyiswidelyusedinproductssuchasthecontrollers,electromechanicalintegrationequipment,powersourceandsmartbattery.
1.2Motortechnology
Motortechnologyplaysakeyroleinconvertingelectricenergyintokineticenergyintheintelligentcontrolsystem.TheCompanyhasestablishedcompletetechnicalcapabilityfrommotordesignandsimulation,testingandverificationtoscalemanufacturingbasedoncontinuousinnovationinhighefficiency,lownoise,highprecisionandhighstabilityofmotors,formingdozensofadvancedmotorproductplatformssuchasbrushlessDCmotor(BLDC),corelessmotor,steppermotorandservomotor.
TheCompany'smotortechnologyhasbeensuccessfullyappliedinmanyfields,suchaselectrictools,automationequipment,intelligentelectricalapparatus,newenergyvehiclesandrobots.Ourmotortechnologytakestheleadinthefieldofelectrictoolsandautomationequipment,andintermsoftheapplicationofmotortechnologyinnewenergyvehicles,robotsandmedicalcare,wehaveachievedremarkableresults,whichhasbeenwidelyrecognizedinthemarket.
1.3Batterytechnology
Batterytechnologyisthetechnologywhereenergyisstoredandmanaged.Itscoretechnologiesincludebatterymaterialapplication,celldesignandmanufacturing,andbatterysystemintegration.Batterymaterialapplicationtechnologiesincludepositiveandnegativeelectrodematerials,electrolytes,diaphragms,andotherrelatedapplicationtechnologies;celldesignandmanufacturingincludeelectrochemicalarchitecturedesignandmanufacturingprocesstechnologiessuchascoating,laminating/winding,andforming;batterysystemintegrationconsistsofaseriesoftechnologiessuchasbatteryassembly,thermalmanagement,collisionandleakagesafety,accuratemeasurementofvoltage/current/temperaturesignals,batterystateestimationandcellequalization.Thetechnologyspansmultiplefieldsofmaterialscience,electrochemistry,electronics,andcontrolengineering.Afteryearsofaccumulation,theCompanyhasformedacompletedesign,development
customization,andproductiontechnologycapabilityfromcelltechnology(CELL)andbatterymanagementtechnology(BMS)tobatterypack(PACK)system.Intermsofbatterymanagementsystem(BMS),wehaveachievedindustry-leadingaccuracyandreliability.Withadvancedalgorithmsandcontrolstrategies,ourBMScanmonitorandmanagethebatterystatusinrealtime,ensuringoptimalperformanceandsafeoperationofthebatterysystem.Technologicalinnovationsinthisareahavemadeusamarketleaderwhenprovidingefficientandsafebatterysolutionsforenergystoragesystems,powerbackup,powerexchangeandportabledevices.
1.4PowersourcetechnologyPowersourcetechnology,asthekeytoefficientconversionofelectricenergy,coversanalogpower,switchingpoweranddigitalpower.Wehaveawiderangeoftechnologyplatformsinthisfieldandfocusonprovidingefficientandreliablepowersourcesolutions.
Withinnovativeenergymanagementstrategiesandhigh-precisionpowerqualitycontroltechnology,wehaveoptimizedthecharginganddischargingprocessofthepowerconversionsystem(PCS)andimprovedtheoverallefficiencyandlifeofthesystem.OurPCStechnologysupportsawiderangeofbatterytypesandconfigurationsandmeetstheneedsofenergystorageapplicationsvaryinginscale.Intermsofphotovoltaicinvertertechnology,wehavesignificantlyimprovedtheenergyconversionefficiencyofsolarpanelswithadvancedcontrolalgorithmandefficientelectricalenergyconversioncircuitdesign,supportingavarietyofcommunicationprotocols.InthefieldofhighpowerDCchargingpiles,wehaveachievedfastandsafechargingofelectricvehiclesbyusingefficientpowerelectronicconversiontechniqueandintelligentchargingcontrolalgorithm.OurDCchargingpilesareofhighpowerdensityandexcellentheatdissipationperformance,whichensurestheefficiencyandstabilityofthechargingprocess.
1.5IoTplatform
TheIoTplatform,asthekeytoconnectingtheperceptionlayer,networklayerandapplicationlayer,enablesustoachieveintelligentconnectionofdevicesandefficientmanagementofdata.Withcompletetechnicalcapabilitiesfrommodulesandsmartterminalstoapplications(APP)andPlatformasaService(PaaS),ourIoTplatformcanprovideintegratedsolutionsformultipleindustries.
Especiallyinthecloudplatformforhouseholdenergymanagement,wehavemaderemarkableachievements.Byintelligentlyanalyzingandprocessingthehouseholdenergyconsumptiondata,theplatformhelpsuserstooptimizeenergyconsumptionandachievetheconservationandefficientuseofenergy.By
seamlesslyintegratingwithsmarthomedevices,theplatformprovidesuserswithacomprehensiveandeasy-to-useenergymanagementandcontrolsolution.
Inthedevelopmentofphotovoltaicenergystorageandchargingcloudplatform,wehaveachievedtheintelligentcollaborationofsolarpowergeneration,energystorageandchargingfacilitiesbyusingadvancedInternetofThings.Theplatformnotonlyimprovestheenergyefficiency,butalsoprovidesuserswithconvenientenergymanagementanduseexperience,promotingthewideapplicationofrenewableenergy.Inaddition,ourdigitalenergymanagementplatformprovidescomprehensiveenergymonitoring,analysisandoptimizationfortheindustrial,commercialandpublicfacilitieswithbigdataandartificialintelligencetechnology.Theplatformhelpsuserstoreduceenergyconsumptionandimprovethesustainabilityofenergyuse,supportingtheenterprisesandsocietyinachievinggreendevelopmentgoals.
2.TheCompany'smainproducts:customizedsystemsolutionsforfourmajorindustries,i.e.,homeappliances,tools,newenergyandindustry.
TheCompany'sproductsaremainlyclassifiedintofourcategories:controller,motor,powersourceandbattery.Bycomprehensivelyutilizingthe"fourelectricsandonenetwork"coretechnology,weprovidecustomizedproductsandintegratedsolutionstosatisfythedemandsofcustomersfromthefourdownstreamindustriesincludinghomeappliances,tools,newenergyandindustry.
2.1Homeappliances
TheCompanyprovidesarangeofcustomizedproductsandservices,fromproductconcept,design,anddevelopmenttomanufacturinganddeliveryforbrandedcustomersinthehomeapplianceindustry.Theproductsaremainlyinvolvedincontrollerandmotorcategories,includinghomeappliancemastercontrol,powercontrol,motordriveandcontrol,displaycontrol,etc.Theproductsaremainlyusedinvariousfields,suchasHVAC,kitchenappliances,cleaningappliances,healthcare,lighting,andsmarthome.
2.2PowerTools
ApplicationscenariosProducts
Thetoolindustrymainlyincludespower,garden,andotherprofessionaltools.TheCompanyprovidesarangeofcustomizedproductsandservices,fromproductconcept,designanddevelopmenttomanufacturinganddeliveryforbrandedcustomersinthetoolsindustry.TheCompany'sproductsmainlycoversthefourcategoriesofcomponents,namelycontroller,motor,batteryandpowersource,aswellassomeintelligentproducts.
2.3Newenergy
Inthefieldofnewenergy,theCompanyhasformedacompleteproductmatrixcoveringcorecomponents,completeunitsandsystemsolutions.Intermsofcorecomponents,theCompanyhascompletedthelayoutof"1C1C3S"coreproducts,includingthechargingmodule,cell,BMS,PCSandEMS.Forthecompleteunit,theCompanyhasdevelopedafullrangeofproductssuchasACandDCchargingpiles,householdenergystorage,industrialandcommercialenergystorage,communicationbackuppowerandportableenergystoragedevices.Atthesystemsolutionlevel,theCompanycombinesthecoretechnicalcapabilitiesofthecompleteunitandcloudplatformanddevelopsthecompletesolutionsforscenariossuchasPV,energystorageandcharging,zero-carbonparksandhouseholdgreenenergy.
Application
scenariosProducts
2.4IndustryAutomationIntheindustrialcontrolindustry,ourbusinesscoversR&D,productionandsalesofspecializedindustrialintelligentcontrolproducts,mainlyinvolvingstepping,servodriveandmotioncontrolproducts.TheCompanyfocusesondownstreamautomationequipmentcustomersandprovidesthemwithcontrollers,drivesandmotors.Downstreamapplicationsinvolve3Celectronics,robotics,medicalequipment,semiconductorequipment,PVandlithiumbattery.Wecommittedtohelpingautomationequipmentmanufacturersimprovedesignperformance,reducemanufacturingcosts,andspeedupthedevelopmentofnewequipment.
ApplicationscenariosProducts
III.Analysisofcorecompetitiveness
1.Platform-basedtechnologyinnovationcapabilityTheCompanytakestechnologyasthegeneofenterprisedevelopmentandconsidersinnovationasthecorecompetenceoftheCompany.TheCompanyhastheindustry-leadingplatformtechnologyinnovationcapability,formingacompletetechnologyplatformcoveringvariouscoretechnologyareasofintelligentcontrolintegrationsolutions.
TheCompanyhastheabilityofdeepunderstandingofvariouscontrolmechanisms,independentimplementation,andcontinuousinnovation,coveringthecoretechnologiesofintelligentcontrolalgorithm,motorcontrol,lithiumbattery,sodiumbattery,sensing,human-machineinteraction,imagerecognition,digitalpowersupply,embeddedsoftware,temperaturecontrol,heating,andcooling,etc.Inaddition,theCompanyhasarichproductlinethatformsmanyproductplatforms.Eachcoreproductplatformhasbeenverifiedinmassproductiontoensurequalityandreliability.Wecanquicklyprovidecustomerswithhigh-quality,differentiatedcustomsolutionstomeettheirneeds.Inaddition,theCompanyhastheindustry'sunique"controller+motor+battery+powersupply"totalsolutioncapability,withtheabilitytocontinuouslydevelopinnovativesolutionsinnewcategories,whichcanhelpcustomersinnovateinthecompetitiontowin.
Inaddition,theCompanyisabletoprovidethe"controller+motor+battery+power+cloudplatform"integratedsolutionintheindustry,andcontinuouslydevelopinnovativenewcategorysolutions,whichcanhelpcustomersinthecompetitiveinnovationtowin.
ApplicationscenariosProducts
2.PartnershipcustomerservicecapabilityTheCompanyvalueslong-termdevelopment,takesvalueco-creationandvaluewin-winasthedevelopmentconcept,anddevelopslong-termpartnershipwithcustomers.Supportedbyplatform-basedtechnologyinnovationcapability,theCompanycontinuestogaininsightintocustomerneeds,createsin-depthco-creationswithcustomers,establishesorganizationalcustomerrelationships,andbuildspartner-basedcustomerservicecapabilities.
Basedonmulti-regionlayout,theCompanyhasestablishedinternationalproductionbasesmainlycoveringPearlRiverDelta,YangtzeRiverDelta,SoutheastAsia,NorthAmerica,andEurope.Italsoestablishesinternationalmarketplatformstoimproveitsabilitytoservenearbythroughmanagementcapabilities,resourceallocationandotheraspects.Anumberofoverseasofficeshavebeensetupforclosecooperationwithcustomers.TheCompanyhasestablishedclosepartnershipswithexcellentcustomersathomeandabroadinvariousbusinessareas.Basedonlong-termcooperationandmutualdevelopment,wehaveformedagoodimageandbrandreputationintheindustry,widelyrecognizedandgenerallypraisedbyourcustomers.
3.Systematicrapidresponsecapability
Asintelligenttechnologyevolvesanduncertaintyincreases,thepaceofglobalinnovationiterationisaccelerating,andcompaniesincreasinglyneedtobemoreagileintheiroperationstoservetheircustomers.Basedonadeepunderstandingoftheintelligentcontrolbusiness,theCompanyhascreatedastrongplatformsystemfromtheimplementationofIPDideasintheR&Danddesignprocess,thecorecustomerISCchangesinthesupplychainsystem,thelaboratoryandqualityassurancesystem,andtheintelligentmanufacturingplatformsystemtobuildacustomer-centricprocess-orientedorganization,internalizingtheCompany'ssuperiorcapabilitiesintoagileoperationalcapabilities,andtheagilesystemwillfurtherstrengthentheCompany'sadvantages,andthetwoformamutuallyreinforcingandvirtuousdevelopment,thusachievingsustainable,high-qualitygrowth.
IV.Analysisofmainbusiness
1.Overview
AgainstthebackdropofChina'seconomyshiftingfromhigh-speedgrowthtohigh-qualitydevelopment,theCompanyhasseizedtheopportunityoftechnologicalupgradingtodevelophigh-qualitybusiness,demonstratingtheoperationalresilienceofenterprisesindifferenteconomicenvironments.TheCompanyhasalwaysinsistedonhelpingtheworldwithintelligenceanddecarbonizingwithsmartertechnologyandgreener
energy.Duringthereportingperiod,theCompanybuiltupitscomprehensivecompetitivenessinvariousaspectsthroughcontinuousproductinnovation,enhancingtheadvantagesofplatformenterprisesandacceleratinginternationalization,steadilyimprovedthemarketshareofhigh-valueproductsintheprimarybusiness(homeappliancesandtools),increasedtheshareoftheheadcustomers,andrealizedthedoublegrowthinthenumberofhundredmillioncustomersandtenmillioncustomersaswellastherevenue;atthesametime,itgraspedtheopportunityofacceleratedconversionoftheoldandnewkineticenergiesunderthebackgroundofdual-carbon,andgraduallyAtthesametime,seizingtheopportunityofacceleratedtransformationofoldandnewkineticenergyunderthebackgroundofdoublecarbon,wewillsuccessivelylaunchaseriesofself-developedcorecomponentsandmachineproductstoimprovethecapabilityofsystemsolutions;acceleratethedevelopmentofnewenergystorage,chargingbusiness,mobilerobotsandotherbusinesses,andkeepinvestingincutting-edgetechnologytoleadthewaveofinnovationintheintelligentcontrolindustry.In2023,withtheconcertedeffortsofallemployees,theCompanyrealizedoperatingrevenueofRMB8.992billion,ayear-on-yearincreaseof
1.32%,netprofitattributabletoshareholdersoflistedcompaniesofRMB515million,ayear-on-yeardecreaseof11.58%,andnetprofitattributabletoshareholdersoflistedcompaniesafterdeductionofnon-cashdividendsofRMB512million,ayear-on-yearincreaseof5.76%.
Annualoperatingresultsandcoreoperatingmetricsfor2023aresetforthbelow:
(i)Breakingthewavesandoarstoachieve11consecutiveyearsofrevenuegrowth.
1.Soundoperationandhealthydevelopment,focusingonlong-termvaluecreationDespitefacingmultiplechallenges,suchasdemandandindustryinventory,theCompanystillachieved11consecutiveyearsofrevenuegrowthfromRMB1billionin2013tonearlyRMB9billionin2023,relyingonitstechnologyplatformandproductplatformadvantages.Duringthereportingperiod,theCompanyincreasedinvestmentinvitalnewprojects,activelyexploredtheinternationalmarket,andcontinuedtogaincustomerrecognitionsteadily;homeappliances,tools,newenergyandindustrialsegmentshaveachievedmodestgrowth.In2023,theCompany'snumberofheadcustomersandrevenuecontinuedtodoublegrowth;thenumberofheadcustomersincreasedto115andrealizedrevenueaccountedfor86%oftheCompany'stotalrevenue,theCompanyinaccordancewiththestrategyoftheorderlyexpansionofthemarketsegments,tomaintaintheleadingedge.Atthesametime,itstrengthensitsmarketinsight,productdefinitionanddevelopmentcapabilities.Itincreasesitsinvestmentininnovativebusinessestocontributenewkineticenergytocorporatedevelopmentandcreatelong-termcorporatevaluewithasustainablebusinessphilosophy.
2.Intelligentsociety,thefutureishereAsAI,IOT,AIGCandothertechnologiescontinuetoadvance,theywillempowertheinnovativedevelopmentofvariousindustries,integrateandoptimizemultipleapplicationscenarios,andcontinuetochangethewayhumansliveandwork.Asamoreadvancedformofsocietyfollowingtheindustrialandinformationsocieties,theintelligentsocietywillusherinbroaderandmoreprofoundchanges.ItispredictedthattheglobalAImarketscalewillexceedRMB20trillionin2030,andthescaleofChina'scoreAIindustrywillexceedRMB4trillionin2030.Thereisstillsignificantpotentialandspacefordevelopment.TheCompanyactivelyembracesthedevelopmentopportunitiesinthefieldsofsmarthome,smartmanufacturing,smartdriving,smartkitchen,etc.,andrealizestheintelligentlandingofmorescenariosthroughintelligentupgrading,AIalgorithms,human-computerinteraction,edgeAI,androbotproducts.
3.Operationofeachbusinesssegment:
(1)Toolssegment:salesrevenueofRMB3.241billionin2023,up0.05%year-on-year.Duringthereportingperiod,theindustryde-stocked,thegrowthratesloweddown,anddemandgraduallyrecoveredinthefourthquarter.TheCompanyisworkingwithitsheadcustomerstodriveproductinnovation,electrification,andcordlesspenetration.Asteadyincreaseinshareandleadingindustryposition.
Theshareofdownstreamcustomersinthetoolsegmentishighlyconcentratedandmainlyoverseas.AsacoreChinesesupplierinthetoolindustry,theCompanyprovidescustomerswithone-stopsolutions,includingcontrollers,motors,batterypacksandcompletemachines,andtheCompanycontinuestopromoteinnovationsintheindustry,suchasinnovationsinsuper-chargingcontroltechnologyinthefieldofpowertools,intelligentcontrolsystemforridinglawnmowersinthefieldofOPE,andfour-wheel-drivemowingrobotsbasedonbinocularstereovision,andotherinnovations;meanwhile,itexpandstheapplicationopportunitiesofproductsinthescenessurroundingtheuseoftools.Throughyearsofimplementationandpromotionoftheinternationalizationstrategy,thebasesinVietnamandIndiahaveachievedlarge-scalemassproductionandstableoperation,andthebasesinRomaniaandMexicohaveachievedmassproduction,makingasignificantbreakthroughinoverseasmarkets.Duringthereportingperiod,webuiltupourabilitytoprovideglobalsupplytoheadcustomersbytakingadvantageofourleadingpositionin"goingtosea"andintroducingnewheadcustomerstoournewbases.
(2)Homeappliancesegment:salesrevenueofRMB3.166billionin2023,up2.41%year-on-year.TheCompanyfocusesonthedevelopmentofadvantageouscategoriesinthefieldofhomeappliances.Itcontinuestodeepenitseffortsinthefieldsoflargewhitegoods(ice-washingandair-conditioning),kitchenandbathroomappliances,andinnovativesmallhomeappliances,aswellasexpandingthemarketapplicationsofcleaning
appliances,temperaturecontrol,andcommercialscenarios.Duringthereportingperiod,theCompanyactivelyseizedthetechnologicalupgradingandmarketopportunitiesofitscorecategoriestorealizetherapidgrowthofitscorecategories,suchasinverterairconditionersandcleaningappliances.Intermsofinnovation,wehaverealizedtechnologicalinnovationsfromheatingtemperaturecontroltoairconditioning,freshairand3-in-1temperaturecontrol,heatpumps,etc.,andhavebroadenedourbusinessapplicationsfromcommercialairconditioningtonewairconditioners,intelligentbuildingcontrol,etc.,soastoachieveanincreaseincustomershare.Duringthereportingperiod,theCompanyactivelyinvestedincutting-edgetechnologiesinthefieldofAI+homeappliances,suchasMatterintelligentgatewaycontrolsystem,whole-houseintelligentprotocol-basedgateway,human-computerinteractioncontrolsystemandintelligenthomeeducationrobots,andco-createdsmarthomescenariosandAI+productlandingwithcustomers.
(3)Newenergysegment:astheCompany'sgrowthbusiness,itwillrealizerevenueofRMB2.14billionin2023,up5.13%year-on-year,higherthantheCompany'soverallgrowthrate.Withthecoretechnologyof"onecore,onecloudand3S"(batterycore,cloudplatform,BMS,PCSandEMS),theCompanyprovidescustomerswithtwocategoriesofproducts:controllersandcomponentsandcompletemachinesandsystems,whicharemainlyusedintwomajorfields:energystorageandnewenergyvehicles.In2023,inthefaceofinventoryandcompetitivepressureintheenergystoragemarket,theCompanyactivelyrespondedbyseizingthebreakthroughofnewcustomers,technologicalinnovation,andperfectingthewholemachineandsolutioncapabilitiestomeetthesceneexpansionopportunitiesinthenewenergyindustryduetothedeclineinbatterycosts,andprofoundlyapplyingtheadvantagesofthecontroltechnologytothepowergenerationsideandtheuserside.Duringthereportingperiod,revenuefromcontrollersandcomponentproductsamountedtoRMB804million,representingayear-on-yearincreaseof10.17%,whilerevenuefromcompletemachinesandsystemsamountedtoRMB1.336billion,representingayear-on-yearincreaseof2.31%.
(4)Industrialsegment:salesrevenueofRMB251millionin2023,anincreaseof1.22%year-on-year,ofwhichtheservodriveandmotorsystembusinessincreasedby26.54%year-on-year,andtheservoapplicationofthemarketexpansionprocessaccelerated.TheCompanymainlyprovidesdownstreamautomationequipmentcustomerswithPLC,motioncontrolcards,stepper/servodrives,motorsandothercorecomponents,aswellasmotioncontrolsolutionsbasedonindustryprocesssupport,widelyusedin3Celectronics,industrialrobots,medicalequipment,photovoltaicequipment,semiconductorequipment,dispensing,engraving,packagingmachineryandotherindustries.
Industrialcontrolindustry:automationmarkettowardsmaturity,themarketfromhigh-speedgrowthtostability.Domesticindustrialcontrolindustryinthemediumandlongtermwillbenefitfrom"industrialupgrading
+machinereplacement,"domesticsubstitution,digitalization,intelligence,andlow-carbondevelopment.Inrecentyears,thedomesticindustryhascontrolledcustomersfromtheefficiencyoftheconcerntothesecurityofsupply.Domesticenterpriseshavethesecurityofsupply,productcost-effectiveness,fastresponsiveengineersandotheradvantages.Intheindustrychainsecurityhigh-endmanufacturing,therearemoresignificantopportunities.
Duringthereportingperiod,throughtheaccumulationofprocesses,productdesign,continuousimprovementofproductreliability,aswellastheabilitytorespondquicklybasedonuserneedsandfeedback,theCompanyhascontinuedtoiteratetomeettheneedsofdifferentiatedapplicationswhileimprovingperformance,tohelpmanufacturersofautomationequipmenttoimprovetheperformanceofequipmentdesign,reducethecostofequipmentmanufacturing,andspeedupthedevelopmentofnewequipment,soastoacceleratethedegreeofautomationofthemanufacturingindustrytoimprovethedegree,andiscommittedtoWearecommittedtobecomingthe"leaderinefficientandeasy-to-usestepperandservodrives"intheindustrialcontrolindustry.Duringthereportingperiod,byfocusingonkeyindustriesandkeycustomers,theCompany'srevenuein3C,photovoltaic,dispensingandotherindustriesachievedsubstantialgrowth,theservosystembusinessbenefitedfromthetransformationandupgradingofthemanufacturingindustryandtheaccelerationofthepaceofdomesticsubstitution,revenuestoachieverapidyear-on-yeargrowth.
Industrialrobotsandhumanoidrobotindustry:China,asalargemanufacturingcountry,hasanincreasingdemandforindustrialrobots.AccordingtoRuiindustrialdata,2023industrialrobotsalesgrewslightly,aslightincreaseof0.4%year-on-year.Downstreamindustrydemanddifferentiationissignificant,andthephotovoltaicindustryistheindustry'sgrowthengine.Cobots(collaborativerobots)havethehighestyear-on-yeargrowthrate.TheCompanyhasrealizedtheproductapplicationofservodriveandhollowcupmotorinthefieldofindustrialrobots;accordingtoMcKinsey'sprediction,inthelongrun,theglobalmarketspaceofhumanoidrobotscanreachtheleveloftrillions.Withtremendoustechnologicaladvancesingeneralartificialintelligence,perceptionandpowersystems,thepaceofinnovationinthehumanoidroboticsindustryhasaccelerated,withanumberofcompanieslaunchinghumanoidrobotsoneafteranother.InJanuary2023,theMinistryofIndustryandInformationTechnology(MIIT)and16otherdepartmentsissuedthe"Robot+"ApplicationActionImplementationPlan.InNovember2023,theMinistryofIndustryandInformationTechnology(MIIT)issuedtheGuidelinesfortheInnovativeDevelopmentofHumanoidRobots.Humanoidrobotshavealreadybecomeanimportantindustryatthenationallevel.TheCompanyhasincreaseditsinvestmentinrelatedfieldstoenhanceitscapabilitiesintheareasofcontrol,motors,modules,andsystemsolutions.TheCompanyhasincreaseditsinvestmentinassociatedfields,enhanceditscapabilitiesincontrol,motors,modulesandsystemsolutions,andpushedforwardthetechnologicalinnovationofrelatedproductsandindustrialapplications.
(ii)Increaseintheproportionofinnovativeproducts,costreductionandefficiencygains,andimprovementingrossmarginsandprofitability
In2023,theCompanyachievedaconsolidatedgrossmarginof22.31%,anincreaseof2.17%year-on-year.Duringthereportingperiod,thegrossprofitmarginsofhomeappliances,tools,newenergy,andindustrialindustriesallincreasedyear-on-year.Ontheonehand,throughcontinuousinnovationintheapplicationofvariousdownstreamindustries,weincreasedinvestmentinforward-lookingtechnologies,launchedmanyindependentlycontrollablenewproductsrepresentedbyDCchargingpilesandindustrial/commercialstorageall-in-onemachines,andgavefullplaytotheadvantagesofourtechnologicalplatformstoincreasethereusabilityandenhancethemarketshare;ontheotherhand,throughcost-cuttingandefficiency-enhancement,leanmanufacturing,anddigitalization,weachievedasignificantyear-on-yeardecreaseinBOMcostsandmanufacturingfeerates.Ontheotherhand,throughcostreduction,efficiencyenhancement,leanmanufacturinganddigitaltransformation,wehaveachievedayear-on-yearreductioninBOMcostandmanufacturingfeerateandsignificantlyimprovedoveralloperationalefficiency.
(iii)InsistingonahighproportionofR&Dinvestment,buildingplatform-basedcompetitiveadvantagesandtappingtheblueoceanmarketwithinnovationdrive
Weadheretotheconceptofcreatingvalueforcustomersandsociety,alwaystake"technologicalinnovation"astheengineoftheCompany,andcontinuetodeepenthetechnologicalleadershipandbuildnewkineticenergyforenterprisedevelopment.In2023,theCompanywillcontinuetopromoteanddeepentheaccumulationandapplicationof"fourelectricsandonenetwork"technologiesinfivemajorindustries,acceleratetheintegrationandapplicationofnewtechnologiessuchasAI,IoTand5G,andspeeduptheinvestmentinR&Dofnewbusinessesandnewtechnologies.TheCompanyhascontinuouslymaintainedahighproportionofR&Dinvestment,andtheratioofR&Dinvestmenttooperatingincomehasbeenaround7%inthepast11years,establishingafoundationforinnovation-drivenbusinessgrowth.Duringthereportingperiod,theCompany'stotalR&DinvestmentamountedtoRMB834million,anincreaseof15.94%year-on-year,accountingfor9.28%oftheoperatingincome,andtherewere2,004R&Dandtechnicalservicepersonnel.R&Dinvestmentinthemainapplicationdirections:
①Platformempowerment:Duringthereportingperiod,throughtheestablishmentofdevicelibrariesandbasicBOMs,theCompanywasabletoconnectthecustomer'sdemand,purchasingsideandR&Dside,andrealizethepreferentialselectionofdevicesandtheimprovementofR&Defficiency.②Introductionand
cultivationofhigh-techtalents:inthenewenergyindustryandcommercestorage,opticalstorage,motorandothernewbusinessareas,increasetheinvestmentintalentsandmarketexpansion.③Enhancementoflaboratorycapacity:OnthebasisoftheexistingUL-WTDP,TUVRheinlandCTF,CNAS,SGSCTF,TUVSüdCTFlaboratories,theCompanyhasaddedanairconditioningenthalpylaboratoryandaworkingconditionlaboratorybettertomeetthetestingneedsofairconditioningcustomers.
TheCompanycreatesaculturalatmosphereofinnovationinternally,increasestheprotectionofindependentlycontrollableproductsandindependentintellectualpropertyrightsexternally,takestechnologyleadership,achievementprotectionandbenefitenhancementasthegoal,managesthepatentassetseffectively,guaranteesthemaximizationofthevalueofintellectualpropertyrights,andpromotestheindustrialtransformationofinnovationachievements.Attheendofthereportingperiod,theCompanyanditssubsidiariesformedtheprotectionofinnovationsthroughintellectualpropertyrightsandgraduallyincreasedthecontributionofpatentbeneficiation.TheCompanyhasappliedfor3,228patents,including1,138inventionpatents,1,747utilitymodels,344designs,42foreignpatentsand57PCTpatents;theCompanyanditssubsidiarieshaveappliedforatotalof161softwarecopyrightsand407trademarkapplications.
(iv)AForward-lookinginternationalizationlayoutbuildsupbarrierstogoingoverseasandopensuproomforgrowth.
Throughyearsofinternationalizationstrategy,theCompanyhasachievedlarge-scalemassproductionandstableoperationinVietnamandIndiabases,withexcellentprofitability.TheRomanianandMexicanbaseshaverealizedmassproductionandmadesignificantbreakthroughsinoverseasmarkets.
(v)Strengtheningriskmanagementandcontrol,improvingcapitalturnoverefficiency,andsafeguardingthehealthyandsustainabledevelopmentoftheCompany'soperations
Duringthereportingperiod,theCompanystrengthenedriskmanagementandcontrol,increasedthepaybackefforts,reducedtheexpenditureonprovisioning,improvedtheefficiencyofcapitalturnover,andrealizednetcashflowfromoperatingactivitiesofRMB1.466billion,anincreaseof198.53%year-on-year,whichguaranteedtheCompany'soperationalhealthandsustainabledevelopment.
(vi)Otherimportantmatters
Duringthereportingperiod,theCompanyactivelyobservedtheneedsofitscustomersintermsofsustainabledevelopment,respondedtoitscustomersthroughtheestablishmentofanenergymanagementteam,thelayoutofthe"photovoltaicpowergeneration+energystorage"greenparkconstruction,theinstallationof
energy-savingequipment,theshapingofgreenculture,andpromotedtheprocessoftheCompany'slow-carbonconsumptionreduction,andcontinuouslystrengthenedthein-depthintegrationofsustainabledevelopmentandbusinessoperations,achievingsteadygrowthinbothfinancialoperationsandESG(environmental,social,andcorporategovernance).TheCompanyhasachievedsteadygrowthinbothfinancialoperationsandESG(environmental,socialandcorporategovernance).
2.RevenueandCost
(1)Compositionofoperatingincome
Unit:RMB
2023 | 2022 | YoYincreaseordecrease | |||
Amount | Proportioninoperatingincome | Amount | Proportioninoperatingincome | ||
Totaloperatingincome | 8,992,342,169.08 | 100% | 8,875,099,137.06 | 100% | 1.32% |
Byindustry | |||||
Intelligentcontrolelectronicsindustry | 8,992,342,169.08 | 100.00% | 8,875,099,137.06 | 100.00% | 1.32% |
Byproduct | |||||
Tools | 3,241,499,560.23 | 36.05% | 3,240,010,210.60 | 36.51% | 0.05% |
Homeappliances | 3,166,494,205.15 | 35.21% | 3,091,915,524.39 | 34.84% | 2.41% |
Newenergy | 2,140,208,255.71 | 23.80% | 2,035,748,139.21 | 22.94% | 5.13% |
Industry | 251,380,930.79 | 2.80% | 248,342,753.93 | 2.80% | 1.22% |
Intelligentsolutionsandothers | 192,759,217.20 | 2.14% | 259,082,508.93 | 2.92% | -25.60% |
Byregion | |||||
Domestic | 3,615,419,893.91 | 40.21% | 3,524,383,375.76 | 39.71% | 2.58% |
Export | 5,376,922,275.17 | 59.79% | 5,350,715,761.30 | 60.29% | 0.49% |
Distributionmodel | |||||
Basingproductiononsalesprospects | 8,992,342,169.08 | 100.00% | 8,875,099,137.06 | 100.00% | 1.32% |
(2)Thesituationofindustries,products,regionsorsalesmodelsaccountingformorethan10%oftheCompany'soperatingincomeoroperatingprofit?Applicable□Notapplicable
Unit:RMB
Operatingincome | Less:operatingcost | Grossprofitrate | Increaseordecreaseofoperatingincomeoverthesameperiodoflastyear | Increaseordecreaseofoperatingcostsoverthesameperiodoflastyear | Increaseordecreaseofgrossprofitrateoverthesameperiodoflastyear | |
Byindustry | ||||||
Intelligentcontrol | 8,992,342,169.08 | 6,986,324,444.52 | 22.31% | 1.32% | -1.42% | 2.17% |
electronicsindustry | ||||||
Byproduct | ||||||
Tools | 3,241,499,560.23 | 2,470,602,168.11 | 23.78% | 0.05% | -4.05% | 3.25% |
Homeappliances | 3,166,494,205.15 | 2,467,953,129.60 | 22.06% | 2.41% | -0.70% | 2.45% |
Newenergy | 2,140,208,255.71 | 1,725,599,932.05 | 19.37% | 5.13% | 4.04% | 0.85% |
Industry | 251,380,930.79 | 182,028,366.30 | 27.59% | 1.22% | 0.75% | 0.34% |
Byregion | ||||||
Domestic | 3,615,419,893.91 | 2,917,987,490.65 | 19.29% | 2.58% | 1.56% | 0.81% |
Export | 5,376,922,275.17 | 4,068,336,953.87 | 24.34% | 0.49% | -3.46% | 3.10% |
Distributionmodel | ||||||
Intelligentcontrolelectronicsindustry | 8,992,342,169.08 | 6,986,324,444.52 | 22.31% | 1.32% | -1.42% | 2.17% |
(3)WhethertheCompany'srevenuefromphysicalsalesisgreaterthanthatfromservices
?Yes□No
Industryclassification | Items | Unit | 2023 | 2022 | YoYincreaseordecrease |
Intelligentcontrolelectronicsindustry | Sales | pcs | 143,304,884 | 145,345,424 | -1.40% |
Productionoutput | pcs | 138,284,579 | 140,109,731 | -1.30% | |
Inventory | pcs | 6,303,828 | 11,324,133 | -44.33% |
Reasonsforyear-on-yearchangesofrelevantdataexceeding30%?Applicable□NotapplicableTheinventorydecreasedby44.33%onayear-on-yearbasisduringtheReportingPeriod,mainlyduetotheincreaseinunitvalueoftheproductsanddecreaseinproductionandsalesvolume.WhentheunitsellingpriceP>RMB200,thesalesvolumeis6,611,300PCS,andthesalesrevenueisRMB
3.455billion;WhentheunitsellingpriceRMB100≤P<RMB200,thesalesvolumeis15,919,300PCS,andthesalesrevenueisRMB2.253billion;WhentheunitsellingpriceRMB50≤P<RMB100,thesalesvolumeis18,357,900PCS,andthesalesrevenueisRMB1.308billion;WhentheunitsellingpriceP<RMB50,thesalesvolumeis102,416,400PCS,andthesalesrevenueisRMB
1.976billion;
(4)PerformanceofmajorsalescontractsandmajorprocurementcontractssignedbytheCompanyasoftheReportingPeriod
□Applicable?Notapplicable
(5)CompositionofoperatingcostsIndustryandproductclassification
Unit:RMB
Industryclassification | Items | 2023 | 2022 | YoYincreaseordecrease | ||
Amount | Proportiontooperatingcosts | Amount | Proportiontooperatingcosts | |||
Intelligentcontrolelectronicsindustry | Operatingcosts | 6,986,324,444.52 | 100.00% | 7,087,226,986.88 | 100.00% | -1.42% |
Unit:RMB
Productcategory | Items | 2023 | 2022 | YoYincreaseordecrease | ||
Amount | Proportiontooperatingcosts | Amount | Proportiontooperatingcosts | |||
Tools | Operatingcosts | 2,470,602,168.11 | 35.36% | 2,574,926,005.78 | 36.33% | -4.05% |
Homeappliances | Operatingcosts | 2,467,953,129.60 | 35.33% | 2,485,460,503.68 | 35.07% | -0.70% |
Newenergy | Operatingcosts | 1,725,599,932.05 | 24.70% | 1,658,664,841.64 | 23.40% | 4.04% |
Industry | Operatingcosts | 182,028,366.30 | 2.61% | 180,681,718.87 | 2.55% | 0.75% |
Intelligentsolutionsandothers | Operatingcosts | 140,140,848.46 | 2.00% | 187,493,916.92 | 2.65% | -25.26% |
(6)WhethertheconsolidationscopehaschangedduringtheReportingPeriod
?Yes□NoDuringtheReportingPeriod,3newsub-subsidiarieswereincorporatedintothescopeofconsolidation,andonesub-subsidiarywasliquidatedandcancelled.
(7)MajorchangesoradjustmentsoftheCompany'sbusiness,productsorservicesduringtheReportingPeriod
□Applicable?Notapplicable
(8)Mainclientsandsuppliers
InformationonmainclientsoftheCompany
Totalsalesofthetopfiveclients(RMB) | 3,358,746,297.27 |
Proportionoftotalsalesofthetopfiveclientsintheannualsales | 37.35% |
Proportionofrelatedpartysalesinthetotalsalesofthetopfiveclientsintheannualsales | 0.00% |
InformationoftheCompany'stopfiveclients
No. | Clientname | Sales(RMB) | Proportiontotheannualsales |
1 | No.1 | 2,366,554,935.94 | 26.32% |
2 | No.2 | 305,019,027.88 | 3.39% |
3 | No.3 | 279,955,902.27 | 3.11% |
4 | No.4 | 214,877,567.33 | 2.39% |
5 | No.5 | 192,338,863.85 | 2.14% |
Total | -- | 3,358,746,297.27 | 37.35% |
Otherinformationonmainclients
□Applicable?NotapplicableInformationonmainsuppliersoftheCompany
Totalpurchaseamountofthetopfivesuppliers(RMB) | 1,803,075,727.25 |
Proportionoftotalpurchaseamountofthetopfivesuppliersintheannualpurchaseamount | 32.390% |
Proportionofrelatedpartypurchaseamountinthetotalpurchaseamountofthetopfivesuppliersintheannualpurchaseamount | 0.00% |
InformationontopfivesuppliersoftheCompany
No. | Suppliername | Purchaseamount(RMB) | Proportiontotheannualpurchaseamount |
1 | No.1 | 1,131,337,074.37 | 20.32% |
2 | No.2 | 298,942,640.13 | 5.37% |
3 | No.3 | 205,720,903.53 | 3.70% |
4 | No.4 | 98,039,933.80 | 1.76% |
5 | No.5 | 69,035,175.42 | 1.24% |
Total | -- | 1,803,075,727.25 | 32.39% |
Otherinformationonmainsuppliers
□Applicable?Notapplicable
3.Expenses
Unit:RMB
2023 | 2022 | YoYincreaseordecrease | Explanationofmajorchanges | |
Sellingexpenses | 322,340,584.49 | 260,181,170.88 | 23.89% | TheexpensesduringtheReportingPeriodisRMB62.16millionmorethanthatoverthesameperiodlastyear,withanincreaseof23.89%.Itisduetotheincreaseintheemployeebenefitsforpersonnelengagedinnewbusinesses,aswellastheincreaseintravelexpensesandexhibitionexpensesincurredforthedevelopmentofoverseasmarkets. |
Overheads | 438,361,342.66 | 369,502,745.36 | 18.64% | TheexpensesduringtheReportingPeriodisRMB68.86millionmorethanthatoverthesameperiodlastyear,withanincreaseof18.64%.Itisduetotheincreaseinemployeebenefitsasaresultoftheincreaseinstaffingfortheconstructionofoverseasbases,andtheincreaseindepreciationandamortizationcorrespondingtotheincreaseininvestmentinlong-termassetsatoverseasbases. |
Financeexpenses | -51,708,683.93 | -123,173,262.90 | 58.02% | TheexpensesduringtheReportingPeriodisRMB71.46millionmorethanthatoverthesameperiodlastyear,withanincreaseof58.02%.ItisduetodecreaseinexchangegaincomparedwiththesameperiodlastyearduetotheincreaseintheexchangerateoftheUSDagainsttheRMBduringtheReportingPeriod. |
R&Dexpenses | 689,969,610.98 | 592,346,136.09 | 16.48% | TheexpensesduringtheReportingPeriodisRMB97.62millionmorethanthatoverthesameperiodlastyear,withanincreaseof16.48%.Itisduetotheincreaseintheinvestmentinstrategickeyprojectssuchastheinvertercontrolsystem,powerconversionsystem,chargingpile,andindustrialandcommercialBMS. |
4.R&Dinvestment?Applicable□Notapplicable
DescriptionofmainR&Dprojects | Projectpurpose | Projectprogress | Goalstobeachieved | ImpactontheCompany'sfuturedevelopment |
Mediumandhighpowerfrequencyconversioncontroltechnology | Thisprojectfocusesonthedifficultiesinhighpower,highefficiencyandlownoisefrequencyconversiontechnique,enrichestheserializedproductplatformsandfurtherexpandsthemarketshare. | Thetechnologyhasbeendevelopedandprovedonmanyproducts,andhasbeensuccessivelymass-producedonmanyproducts,suchashigh-powerairconditioners,refrigerators,washingmachines,andrangehoods. | Theenergyefficiency,vibration,noisereductionandproductreliabilityareattheindustry-leadinglevel,achievinglarge-scaleindustrialapplicationofthetechnology. | ExpandtheCompany'sadvantagesinthefieldofthehigh-endhomeandcommercialappliancescontrol. |
Mobilerobotchassistechnology | Thisprojectcoversdozensofkeytechnologiessuchasrobotmapping,positioning,planning,navigation,movement,obstacleavoidance,multisensorfusion,machinevisionandAI,soastoachievefastdevelopmentandmulti-sceneapplicationofmobilerobots. | Thefourthgenerationoftechnologyplatformhasbeencompleted,anddozensoftechnologieshavebeenpatented,andtheresearchanddevelopmentcontinues;thetechnologyhasbeenappliedindozensofprojectsandtakestheleadinthefieldofborderlessroboticlawnmower. | Achievetheleadingpositionofthemobilerobotchassistechnologyandmassproductionandapplicationofthetechnologyandproductplatforminscenariossuchashome,gardenandindustry. | EnhancetheCompany'scorecompetitivenessinvariousmobilerobotsolutions. |
Hall-freemotordriveandelectromechanicalintegrationtechnology | TheProjectfocusesonthehall-freemotorcontroltechnologyandelectromechanicalintegrationtechnologytoachievehigh-reliability,low-costandsmall-volumetoolcontrollersolutionsandexpandtheCompany'stechnologicalsuperiorityintoolproducts. | Thekeytechnologieshavebeentestedandverified,andresearchanddevelopmentcontinues;theultra-high-speedmotorandthehall-freemotordrivetechnologyhavebeenappliedintoolscenarios. | Thehall-freedetectionandestimationalgorithmisattheindustry-leadinglevel.Thesolutioncostandreliabilityhavebeenimprovedbymorethan30%,andtheelectromechanicalintegrationdesignperformanceandcosthavebeenimprovedbymorethan30%.Furtherimprovetheadvantagesofthetoolcontrollers,such | ConsolidatetheCompany'stechnologicalandmarketleadershipinthefieldoftools. |
asthehighreliability,lowcost,smallvolumeandlightweight. | ||||
Newpermanentmagnetmotortechnology | Thisprojectaimstoimprovetheperformanceofthepermanentmagnetmotorintermsofnoiseandstationarityandminimizefluxleakage,achievingthegoalofcostcompetitivenessamongthemotorsofthesameperformance. | Thekeytechnologieshavebeentestedandverified,andwillbemassproducedandappliedinthefieldofE-Blikeandelectrictwo-andthree-wheelers. | Thenewpermanentmagnetmotorisattheindustry-leadinglevelinperformanceandiscostcompetitive. | FurtherimprovetheCompany'scompetitivenessinthefieldofhigh-performancemotorsandexpandtheapplicationmarketinfieldssuchastoolsandnewenergyvehicles. |
LargecapacityironlithiumcellandPACKtechnologyplatform | Thisprojecthasestablishedalargecapacityandhighenergydensitycellproductplatformat100Ahlevelbyoptimizingthecellpackagingmethod,increasingthecellsizeandcapacityandreducingthecellredundantcomponents,soastoeffectivelyexpandthesinglecellcapacityandenergydensity,improvethePACKintegrationefficiencyandreducethecomprehensivecostofthebatterysystem. | Breakthroughshavebeenachievedinhigh-powerintelligentlithiumcelltechnologyandmultilayerstackedenergystoragebatterytechnology,andtheresearchanddevelopmentcontinues;theproductshavebeenmass-producedandappliedinthefieldofenergystorage,UAV,etc. | Itsenergydensity,highandlowtemperaturedischargeperformance,andlongcyclelifeareattheleadinglevelintheindustry. | EnrichtheCompany'scellandbatteryPACKproductline,andhelptheCompanyexpanditsbusinessinareassuchasenergystorageandlightpower. |
Newsodium-ionsecondarycelltechnologyplatform | Thisprojectstudiesandsolvesthedifficultiesinusingthenewsodiumcathodematerialinthecelldesign,applicationandmanufacturingprocess,formingthesodium-ioncelltechnologyplatformandproductplatformtoprovidenewproducereserveforfurtherdevelopmentofthenewenergybusiness. | Technologicaldevelopmentandverificationhavebeencompleted,andresearchanddevelopmentcontinues;thetechnologycanbemass-producedandappliedinvariousbusinessscenarios. | Theenergydensityandcostlevelareattheindustry-leadinglevel. | Newtechnologyreserve |
Smartsharedbatteryswapsystemtechnology | Thisprojectaimsatimprovingtheintelligencelevelandreliabilityofthesmartsharedbatteryswapsystembydeeplystudyingthekeytechnologiesofthesystem,includingthesystemstructureanddesign,BMSbatterymanagementtechnology,intelligentchargingmanagement,datatransmissionandprocessing,safetyassurance,batterytrackingandcabinetfireprotection,soastoprovideconvenient,efficientandsafeservicesforsharedtravels. | Thetechnicaldevelopmentandverificationofthesecondgenerationofproductshavebeencompleted,andtheproductshavebeendeliveredinbulk. | Thesmartsharedbatteryswapsystemisattheindustry-leadinglevelintermsofintelligencelevelandreliability,andalarge-scaleindustrialapplicationofthetechnologyhasbeenachieved. | FurtherimprovetheCompany'stechnicalsolutioncapabilityandmarketshareinthebatteryswappingoftwo-andthree-wheelers. |
Keytechnologiessuchasautomotiveelectronic | ThisprojectaimsatimprovingtheCompany'stechnologyandproductlevelintheapplicationofnewenergyvehiclesbydeeply | TheCompanyhasachievedtechnologicalbreakthroughsandproductapplicationsin | Masterthecoretechnologiessuchasautomotiveelectroniccontrollers,motors,and | SupporttheCompany'snewbusinessdevelopmentin |
controllers,motors,andbatterychargingandswapequipment | studyingtheautomotiveelectroniccontrollerandnewenergyvehiclebatterychargingandswaptechnology,exploringthedesignprincipleandkeytechnology,developingthekeytechnologyplatformandproductplatformandconstructingthetestingandverificationplatform. | fieldssuchasintelligentcarcabins,thermalmanagement,AC/DCchargingpiles,andmotors,formingseveralmatureproductplatformsandconstructingrelevanttechnologyandproductsupportingtestandverificationplatforms. | batterychargingandswapequipment,formamatureproductplatform,constructandimproverelevanttechnologyandproducttestandverificationplatformsandenhancetheCompany'stechnicalcapabilityandqualityassurancecapabilityinthefieldofnewenergyvehicles. | theautomotivefield. |
Digitalpowertechnologyplatform | Thisprojectaimsatimprovingthepowercontrol,management,testingandintelligencelevelbystudyingthedigitalarchitectureunderdifferentpowertopologies,buildingrelevantDSPprocessorsandall-digitalfeedbacktechnologyplatformandmasteringthecoredigitalpoweralgorithm,formingthemedium-andhigh-powerdigitalpowertechnologyandproductplatform. | Amass-producedtechnologyandproductplatformhasbeenformed,andtheresearchanddevelopmentcontinues;thedevelopment,verificationandproductizationofthe3KWand5KWbidirectionalinvertertechnologyplatformhavebeencompleted;thedevelopment,verificationandproductizationofthespecialdigitalpowertechnologyplatformformedicalusehavebeencompleted; | Theapplicationintheconversionefficiencyoflargepowersupplyrangingfromseveralkilowattstotensofkilowattsandincomplexscenariosisattheindustry-leadinglevel. | SupporttheCompany'sbusinessbreakthroughsinthefieldofhigh-enddigitalpowerandexpandtheCompany'smarketinthefieldofnewenergy. |
Embeddedartificialintelligencetechnology | Thisprojectstudiesthemachinevisionandspeechrecognitionalgorithmtoachieveintelligentautomaticidentificationandinteractiveoperationforusers,reducethecomplexityofusingtheproduct,improvetheuserexperience,andbuildtheembeddedAIalgorithmandimplementationplatformanddevelopinnovativeproductsforavarietyofapplicationscenarios. | Thetechnologyplatformisundercontinuousdevelopment,andseveralprototypeproductshavebeenpromotedinthemarketandappliedinthefieldofsmarthomeandhomeappliances. | TheAIalgorithmandperformanceareattheindustry-leadinglevel,andtheembeddedAItechnologyhasbeenappliedinmanyproducts. | ImprovetheCompany'sproductinnovationcapabilityinartificialintelligenceandconsolidatetheCompany'sleadingpositioninintelligentcontroltechnology. |
Photovoltaicinverterandpowerconversionsystem(PCS) | PhotovoltaicinverterandpowerconversionsystemarethekeylinksofenergyconversioninSource-Network-Load-Storage.Thisprojectstudiesthephotovoltaicinverterandpowerconversionsystemofdifferentpowerlevelstomeettheneedsofapplicationinhousehold,industrialandcommercialphotovoltaicenergystorageandchargingprojects. | Thekeytechnicalproblemsofthe60KWphotovoltaicinverterand120KWpowerconversionsystemhavebeensolvedandtheyarenowinthestageoftestingandverification,andwillbegraduallypromotedandappliedinbulk. | Productsoftensofkwtohundredsofkwhavebeendevelopedandthetechnologyisattheindustry-leadinglevel,enrichingtheCompany'sproducts. | SupplementtheCompany'ssolutionsonhousehold,industrialandcommercialphotovoltaicenergystorageproducts. |
HighpowerDC | ThisprojectstudiesthehighpowerDCchargingpilesof | TheGB20KW-240KWproductshavebeen | Develop20kw~720kw | Formafullrangeofchargingpile |
chargingpile | differentpowerlevelstomeettheneedsofapplicationinvariouschargingstationsandindustrialandcommercialphotovoltaicenergystorageandchargingprojects. | developedanddeliveredinbulk;thetechnicaldevelopmentandverificationofsuperchargingpile360KW-720KWhavebeencompleted. | chargingpiles. | products,andexpandtheDCfastcharging,superchargingandphotovoltaicenergystorageandchargingmarket. |
Intelligentdrivingon-boardradarmotor | Thisprojectstudiesanewtypeofmotortomeettheneedsoftherotatingmirrorsemi-solidradarproductsformotors.Thismotorespeciallymeetsthestringentenvironmentaladaptabilityandreliabilityrequirementsinautonomousvehicleapplicationsandachievesultra-silenceandotherspecifications. | Thekeytechnologieshavebeendeliveredinbulktowell-knownenterprisesintheindustry. | Thetechnicalperformanceisattheindustry-leadinglevelandmeetsthequalityrequirementsofvehiclespecificationlevel;theautomatedmanufacturingofproductshasbeenachieved. | Improvethecapabilityofcustomizingspecialmotorsanddevelopnewmarketsformotorproductsofvehiclespecificationlevel. |
EnergystorageBMS | ThisprojectstudiestheBMSsystemfordifferentstringsandbatteryspecificationstomanageandoptimizetheoperationsafetyandlifeofenergystoragebatteries;meettheneedsofvariousindustrialandcommercialenergystorageandbulkstoragesystems. | Thetechnicaldevelopmentandverificationhavebeencompleted,andtheproductplatformcontinuestoiterateandhavebeenappliedinbulkstorageandindustrialandcommercialenergystoragesystems. | ThisprojectdevelopstheBMSsystemfordifferentstringsandbatteryspecificationsandcanbeappliedinvariousindustrialandcommercialenergystorageprojects. | EnrichtheCompany'sBMSproductsinenergystorage,attractenergystorageBMSbigclientsandexpandthemarketshare. |
Liquidcoolingtechnology | Thisprojectstudiestheliquidcoolingtechnologytoeffectivelyimprovethesafetyandlifeofequipmentandmeetthecoolingrequirementsofhighpowersystemssuchastheenergystoragesystemsandchargingpiles. | Thekeytechnicalproblemshavebeensolvedandthekeytechnologieshavebeentestedandverifiedintheenergystoragesystem. | Thetechnicalperformancesuchasthetemperaturecontrolandreliabilityareattheindustry-leadinglevel. | Conducttechnicalpreparationandverificationfordevelopinganewgenerationofliquidcoolingenergystoragesystemandchargingsystem. |
Corelessmotoranddexteroushandmoduletechnology | Thisprojectdevelopsabrushlesscorelessmotoranditsmodulesuitableforthedexteroushandsofhumanoidrobots. | Thedevelopmentofthefirstgenerationofproductshasbeencompletedandthedexteroushandmoduleisinthetechnicalpre-researchstage. | Thetechnicalperformanceinrevolvingspeed,life,noise,powerdensityandefficiencyisattheindustry-leadinglevel;thedevelopmentofcorelessmotorandmodulesuitablefordexteroushandsofhumanoidrobotsisrealized. | Conducttechnicalpre-researchandseekopportunitiesforhumanoidrobotindustrychain. |
Servodrivesystem | Asacoreunitinmotioncontrol,theservodrivesystemcanachievehigh-precisiondriveandpositioning.ThisprojectdevelopsaservodrivesystemthatcancontroltheACpermanentmagnetsynchronousmotorwithhighprecision,whichwillbeapplied | Thetechnologyplatformisundercontinuousdevelopment,forminganumberofproductseries,andhasbeenappliedtotheautomationequipment | Thetechnicalperformanceisattheindustry-leadinglevelwithcostcompetitiveness;thelarge-scaleindustrialapplicationoftheproducthasbeenachieved. | Enrichtheservoproductionline,improvetheproductcompetitivenessandexpandthemarketshare. |
toinnovativeproductsindifferentscenarios. | inmanyindustries. | |||
Motioncontrol | Theprojectdevelopsthemotioncontrolcard,PLCandencoderofhighprecisionandhighadaptabilityforthedrivemotor,whichwillbeappliedtoinnovativeproductsindifferentscenarios. | Thetechnologyplatformisundercontinuousdevelopment,andseveralprototypeproductshavebeenpromotedinthemarketandappliedinthefieldofintelligentindustrialequipmentandhomeappliances. | Thetechnicalperformanceisattheindustry-leadinglevelwithcostcompetitiveness;thelarge-scaleindustrialapplicationoftheproducthasbeenachieved. | ImprovetheCompany'smarketcompetitivenessinindustrialmotorcontrolsystemandrobotmotorcontrolsystem. |
Stepperdriver | Thisprojectdevelopsafive-phasestepperdriverforsteppingmotors,withuniformmotion,strongloadcapacityandhighprecisionandappliedtoinnovativeproductsindifferentscenarios. | Thedevelopmentandmassproductionofthefive-phasestepperdriverhavebeencompleted. | Thetechnicalperformanceisattheindustry-leadinglevelwithcostcompetitiveness;thelarge-scaleindustrialapplicationoftheproducthasbeenachieved. | Expandthemarketshareofhigh-endstepperdrivers. |
Digitalenergymanagementcloudplatform | ThisprojectstudiesanddevelopsadigitalenergymanagementplatformtoconductdigitalmanagementoftheCompany'snewenergyequipmentandformsacloud-device-APPintegratedsystemsolution. | Theiterativedevelopmentcontinuesandtheproductisalreadyavailableforcommercialuse. | Thisprojectstudiesacloudplatformsystemsuitableforequipmentandenergymanagementtoachieveequipmentmonitoringandmanagement,dataanalysis,storageandstatistics,planningandimplementation,satisfyingtheenterprises'needsforequipmentandenergymanagementandtheusers'andcustomers'needsforoperationandmaintenance. | Formadevice-cloud-APPintegratedsolutioninthefieldofnewenergy,andexplorenewbusinessmodelsonoperationandmaintenance. |
SmartlithiumbatteryforRVandship-borneelectricalappliances | Thisprojectaimsatdevelopingtheanti-collision,waterproofandanti-fallingsmartlithiumbatteryforRVandship-borneelectricalappliances. | Massproductionhasbeencompletedandtheproductplatformisbeingupgradedanditerated. | Theproductissuitablefortheapplicationscenarios,andthetechnicalperformanceisattheindustry-leadinglevelwithcostcompetitiveness;thelarge-scaleindustrialapplicationoftheproducthasbeenachieved. | ConsolidatetheCompany'sleadingpositioninthemarketsegmentssuchasRV,golfcartandship-bornesmartlithiumbattery. |
R&DpersonneloftheCompany
2023 | 2022 | Variableproportion | |
NumberofR&Dpersonnel(person) | 2,004 | 1,776 | 12.84% |
ProportionofR&Dpersonnel | 21.50% | 21.20% | 0.30% |
EducationalbackgroundofR&Dpersonnel | |||
Bachelor | 1,317 | 1,186 | 11.05% |
Master | 158 | 125 | 26.40% |
Doctorandabove | 3 | 3 | 0.00% |
Juniorcollegedegreeandbelow | 526 | 462 | 13.85% |
AgecompositionofR&Dpersonnel | |||
Below30 | 834 | 797 | 4.64% |
30-40 | 936 | 797 | 17.44% |
Above40 | 234 | 182 | 28.57% |
R&DinvestmentoftheCompany
2023 | 2022 | Variableproportion | |
R&Dinvestment(RMB) | 834,406,343.71 | 719,662,208.72 | 15.94% |
ProportionofR&Dinvestmentinoperatingincome | 9.28% | 8.11% | 1.17% |
CapitalizedamountofR&Dinvestment(RMB) | 144,436,732.73 | 127,316,072.63 | 13.45% |
ProportionofcapitalizedamountinR&Dinvestment | 17.31% | 17.69% | -0.38% |
ReasonsforandimpactsofmajorchangesinthecompositionoftheCompany'sR&Dpersonnel
□Applicable?NotapplicableReasonsforthesignificantchangeintheproportionoftotalR&Dinvestmenttotheoperatingincomecomparedwiththatofthepreviousyear
□Applicable?NotapplicableReasonsforsignificantchangesinthecapitalizationrateofR&Dinvestmentandexplanation
□Applicable?Notapplicable
5.Cashflow
Unit:RMB
Items | 2023 | 2022 | YoYincreaseordecrease |
Subtotalofcashinflowfromoperatingactivities | 9,742,654,137.01 | 9,194,212,756.21 | 5.97% |
Subtotalofcashoutflowfromoperatingactivities | 8,276,705,637.83 | 8,703,157,679.88 | -4.90% |
Netcashflowfromoperatingactivities | 1,465,948,499.18 | 491,055,076.33 | 198.53% |
Subtotalofcashinflowfrominvestmentactivities | 39,243,483.78 | 63,633,384.24 | -38.33% |
Subtotalofcashoutflowfrominvestmentactivities | 1,187,630,073.16 | 840,702,901.36 | 41.27% |
Netcashflowfrominvestmentactivities | -1,148,386,589.38 | -777,069,517.12 | -47.78% |
Subtotalofcashinflowfromfinancingactivities | 985,342,992.26 | 1,118,783,953.99 | -11.93% |
Subtotalofcashoutflowfromfinancingactivities | 1,218,525,834.63 | 1,243,705,863.29 | -2.02% |
Netcashflowfromfinancingactivities | -233,182,842.37 | -124,921,909.30 | -86.66% |
Netincreaseincashandcashequivalents | 120,462,012.53 | -361,823,264.97 | 133.29% |
Maininfluencingfactorsofthesignificantyear-on-yearchangesinrelevantdata?Applicable□Notapplicable
1.Netcashflowfromoperatingactivities:Itisduetotheexcessivesalesoutstanding,theinventory
destockingandprocurementscalecontrol,themisallocationofsalescollectionandpurchasepaymentperiod,andtheincreaseinthenetcashflowfromoperatingactivities.
2.Netcashflowfrominvestmentactivities:ItisduetotheincreaseinthepurchaseoffinancialproductsduringtheReportingPeriodcomparedwiththatoverthesameperiodoflastyear.
3.Netcashflowfromfinancingactivities:Itisduetotheterminationofthestockincentiveplan,repurchaseofrestrictedstocksandrepurchaseofsharesduringtheReportingPeriod.
ReasonsforthesignificantdifferencebetweenthenetcashflowfromoperatingactivitiesduringtheReportingPeriodandthenetprofitfortheyear
□Applicable?Notapplicable
V.Analysisofnon-mainbusiness
?Applicable□Notapplicable
Unit:RMB
Amount | Proportionintotalprofit | Explanationofreasons | Isitsustainable | |
Investmentincome | -11,234,586.49 | -2.13% | ActualprofitsandlossesfromforwardexchangeandprofitsandlossesfromequityinvestmentsduringtheReportingPeriod. | No |
Profitandlossfromchangesinfairvalue | 12,535,503.26 | 2.37% | Changesinfairvaluearisingfromequityinvestmentsheld | No |
Impairmentofassets | -73,727,329.86 | -13.95% | Provisionforinventoryfallingpricereservesandcreditimpairmentlosses | No |
Non-operatingincome | 6,779,756.94 | 1.28% | No | |
Non-operatingexpenditure | 21,281,506.27 | 4.03% | No |
VI.Analysisofassetsandliabilities
1.Significantchangesinassetcomposition
Unit:RMB
Endof2023 | Beginningof2023 | Increaseordecreaseinproportion | Explanationofmajorchanges | |||
Amount | Proportionintotalassets | Amount | Proportionintotalassets | |||
Monetarycapital | 1,550,450,889.82 | 13.86% | 1,403,026,071.34 | 13.51% | 0.35% | Nosignificantchanges |
Accountsreceivable | 2,431,773,877.56 | 21.74% | 2,549,734,039.66 | 24.55% | -2.81% | Nosignificantchanges |
Contractassets | Nosignificantchanges | |||||
Inventory | 1,653,816,715.51 | 14.79% | 1,992,952,212.53 | 19.19% | -4.40% | TheamountattheendoftheReportingPeriodisRMB339.14millionless |
thanthatatthebeginningoftheperiod,withadecreaseof17.02%.Itwascausedmainlybyinventoryreductionandsupply-sideefficiencyincreaseduringtheReportingPeriod. | ||||||
Investmentproperty | 103,404,402.85 | 0.92% | 106,242,777.85 | 1.02% | -0.10% | Nosignificantchanges |
Long-termequityinvestment | 37,748,179.30 | 0.34% | 23,550,658.91 | 0.23% | 0.11% | TheamountattheendoftheReportingPeriodisRMB14.2millionmorethanthatatthebeginningoftheperiod,withanincreaseof60.29%.ItwascausedmainlybynewequityinvestmentsduringtheReportingPeriod. |
Fixedassets | 2,102,862,886.72 | 18.80% | 1,840,358,093.74 | 17.72% | 1.08% | Nosignificantchanges |
Constructioninprogress | 568,107,950.65 | 5.08% | 234,775,312.11 | 2.26% | 2.82% | TheamountattheendoftheReportingPeriodisRMB333.33millionmorethanthatatthebeginningoftheperiod,withanincreaseof141.98%.ThemainreasonistheincreaseininvestmentintheconstructionofHuizhouYAKOAutomationPlantandNantongIndustrialParkduringtheReportingPeriod. |
Right-of-useassets | 101,446,985.74 | 0.91% | 106,196,901.87 | 1.02% | -0.11% | Nosignificantchanges |
Short-termloans | 279,348,750.00 | 2.50% | 283,351,495.57 | 2.73% | -0.23% | Nosignificantchanges |
Contractualliabilities | 168,681,571.89 | 1.51% | 138,281,929.17 | 1.33% | 0.18% | Nosignificantchanges |
Long-termloans | 437,747,877.47 | 3.91% | 581,500,000.00 | 5.60% | -1.69% | Nosignificantchanges |
Leaseliabilities | 61,429,811.03 | 0.55% | 73,610,791.09 | 0.71% | -0.16% | Nosignificantchanges |
Highproportionofoverseasassets?Applicable□Notapplicable
Assetdetails | Reasonsofformation | Assetsize | Location | Operationmode | Controlmeasurestoensurethesafetyofassets | Earningposition | ProportionofforeignassetstonetassetsoftheCompany | Isthereasignificantriskofimpairment |
OperationCenterinIndia | Investmentandestablishment | 473,502,563.91 | Pune,India | R&D,productionandsales | Financialsupervisionandexternalaudit | 43,049,031.37 | 7.53% | No |
DongNaiOperationCenterinVietnam | Investmentandestablishment | 825,183,505.15 | DongNai,Vietnam | R&D,productionandsales | Financialsupervisionandexternalaudit | 202,974,764.93 | 13.13% | No |
Explanationofothersituations | None |
2.Assetsandliabilitiesmeasuredatfairvalue
?Applicable□Notapplicable
Unit:RMB
Items | Openingbalance | Profitsandlossesfromchangesinfairvalueinthecurrentperiod | Changesincumulativefairvalueincludedinequity | Impairmentaccruedinthecurrentperiod | Amountofpurchaseinthecurrentperiod | Amountofsaleinthecurrentperiod | Otherchanges | Closingbalance |
Financialassets | ||||||||
1.Tradablefinancialassets(excludingderivativefinancialassets) | 342,959,450.31 | 12,535,503.26 | 248,096,517.73 | 1,633,399,461.43 | 1,332,190,327.84 | 656,704,087.16 | ||
4.Otherequityinstrumentinvestments | 41,192,950.00 | 41,192,950.00 | ||||||
Subtotaloffinancialassets | 342,959,450.31 | 12,535,503.26 | 248,096,517.73 | 1,674,592,411.43 | 1,332,190,327.84 | 697,897,037.16 | ||
Totaloftheabove | 342,959,450.31 | 12,535,503.26 | 248,096,517.73 | 1,674,592,411.43 | 1,332,190,327.84 | 697,897,037.16 | ||
Financialliabilities | 0.00 | 0.00 |
ContentsofotherchangesNone.AretheresignificantchangesinthemeasurementattributesoftheCompany'smainassetsduringtheReportingPeriod
□Yes?No
3.RestrictedassetrightsbytheendoftheReportingPeriod
Items | Bookvalueattheendoftheperiod | Reasonsforrestriction |
Monetarycapital | 39,587,800.49 | Applytothebankfortheissuanceofbillsandguaranteedeposits;amountoffreezingofproperty;financialsubscriptionduringthesubscriptionperiod |
Fixedassets | 119,899,873.68 | Mortgageloansforbuildings |
Constructioninprogress | 112,992,616.66 | Mortgageloansforprojectsunderconstruction |
Intangibleassets | 59,492,901.97 | Mortgageloansforlanduserights |
Total | 331,973,192.80 |
VII.Investmentanalysis
1.Generalsituation?Applicable□Notapplicable
InvestmentintheReportingPeriod(RMB) | Investmentamountinthesameperiodoflastyear(RMB) | Rangeofchange |
61,192,950.00 | 42,352,940.00 | 44.48% |
2.MajorequityinvestmentobtainedduringtheReportingPeriod
□Applicable?Notapplicable
3.Majornon-equityinvestmentobtainedduringtheReportingPeriod
□Applicable?Notapplicable
4.Investmentinfinancialassets
(1)Securitiesinvestment
□Applicable?NotapplicableTherewasnosecuritiesinvestmentduringtheReportingPeriod.
(2)Derivativesinvestment?Applicable□Notapplicable
1)DerivativesinvestmentforthepurposeofhedgingduringtheReportingPeriod?Applicable□Notapplicable
Unit:RMBtenthousand
Typesofderivativesinvestment | Initialinvestmentamount | Beginningamount | Profitsandlossesfromchangesinfairvalueinthecurrentperiod | Changesincumulativefairvalueincludedinequity | AmountofpurchaseduringtheReportingPeriod | AmountofsaleduringtheReportingPeriod | Endingamount | ProportionofinvestmentamountattheendoftheperiodinnetassetsoftheCompanyattheendoftheReportingPeriod |
Tradingofforeignexchangederivatives | 147,320.36 | 0 | 137 | 0 | 147,320.36 | 137,403.08 | 9,917.28 | 1.58% |
Total | 147,320.36 | 0 | 137 | 0 | 147,320.36 | 137,403.08 | 9,917.28 | 1.58% |
ExplanationofaccountingpoliciesandspecificaccountingprinciplesforhedgingbusinessduringtheReportingPeriod,as | TheCompanyhasmadecorrespondingaccountingandpresentationforforeign-exchangederivativetransactiontobedoneaccordingtoAccountingStandardsforBusinessEnterprisesNo.22-RecognitionandMeasurementofFinancialInstruments,AccountingStandardsforBusinessEnterprisesNo.24-HedgeAccounting,AccountingStandardsforBusinessEnterprisesNo.37-PresentationofFinancialInstrumentsissuedbyMinistryofFinance,andotherregulationsandguides.Foreignexchange |
wellaswhethertherehavebeensignificantchangescomparedtothelastReportingPeriod | derivativecontractswereinitiallyandsubsequentlymeasuredusingtradablefinancialassets,whichfairvalueispricedbyfinancialinstitutionsbasedonopenmarkettradingdata,andtherehasbeennosignificantchangecomparedtothelastReportingPeriod. |
ExplanationofactualprofitsandlossesintheReportingPeriod | Theamountincludedincurrentprofitsandlossesfromforeign-exchangederivativetransactionsconductedduringtheReportingPeriodwasapproximatelyRMB-1.5385million. |
Explanationofhedgingeffect | TheCompanyconductedforwardexchangetransaction,effectivelyreducingtheriskofexchangefluctuationsthroughreasonableRMBforwardexchangetransaction,focusingonfuturetransactioncostsandincomes,andachievingassethedgingwiththeaimofavoidingrisks. |
Capitalsourcesofderivativesinvestment | Self-owncapitals |
RiskanalysisandcontrolmeasuresofderivativespositionsintheReportingPeriod(includingbutnotlimitedtomarketrisk,liquidityrisk,creditrisk,operationalrisk,legalrisk,etc.) | I.RiskanalysisofforwardexchangetransactionTheforwardexchangetransactionbusinesscarriedoutbytheCompanyanditssubsidiariesfollowedtheprincipleoflockinginexchangerateriskandnotengaginginspeculativeorarbitragetradingoperations.However,therewerestillcertainrisksinforwardexchangetransactionoperations:1.Exchangeratefluctuationrisk:Intheeventofsignificantfluctuationsinexchangerates,iftheforwardsettlementexchangeratestipulatedintheconfirmationletterforforwardexchangetransactionswaslowerthanthereal-timeexchangerateonthesettlementday,itwillcauseexchangelosses.2.Internalcontrolrisk:Becauseforwardexchangetransactionsarehighlyspecialized,risksmayariseduetoinadequateinternalcontrolsystems.3.Customerdefaultrisk:Ifthecustomer'saccountsreceivableareoverdueandthepaymentcannotbecollectedwithinthepredictedpaymentperiod,itwillcauseadelayinforwardexchangesettlementandresultinlossesfortheCompany.4.Riskofpaymentcollectionprediction:Ingeneral,theSalesDepartmentoftheCompanypredictspaymentcollectionbasedoncustomerordersandexpectedorders.Nonetheless,duringtheactualexecutionprocess,customersmayadjusttheirownordersandtheCompanymaymakeaninaccuratepaymentprediction,leadingtotheriskofdelayeddeliveryofforwardexchangesettlement.5.Legalrisk:ChangesinrelevantlawsorviolationsofrelevantlegalsystemsbycounterpartiesmayresultincontractsbeingunabletobeexecutednormallyandcauselossestotheCompany.II.Riskcontrolmeasures1.TheCompanyhasformulatedtheInternalControlSystemforForwardExchangeTransactions,whichprovidesclearregulationsontheCompany'sforeignexchangetransactionoperatingprinciples,approvalauthority,internaloperatingprocedures,responsibledepartmentsandindividuals,informationisolationmeasures,andriskmanagementforforwardexchangetransaction,andcanmeettheneedsofpracticaloperations,anditsinternalcontrolandriskmanagementmeasuresformulatedarepracticalandeffective.2.ThefinancecenterandauditdepartmentoftheCompany,asrelevantresponsibledepartments,haveclearmanagementpositioningandresponsibilities,andresponsibilitiesareassignedtotheirpositions.Throughthishierarchicalmanagement,therisksofsinglepersonorindividualdepartmentoperationsarefundamentallyeliminated,andthespeedofriskresponseisalsoimprovedwhileeffectivelycontrollingrisks.3.Topreventdelayeddeliveryofforwardexchangetransactions,theCompanyattachesgreatimportancetothemanagementofaccountsreceivableandactivelycollectsaccountsreceivabletoavoidthephenomenonofoverdueaccountsreceivable.4TheCompanyengagesinfinancialderivativetransactionbusinesswithlargecommercialbankswithlegalqualifications,closelymonitorsrelevantlawsandregulationsinthefield,avoidingpotentiallegalrisks.5.TheCompany'sforwardexchangetransactionsmustbebasedonacautiouspredictionforforeigncurrencyreceipts(payments)oftheCompany,andtheforeigncurrencyamountoftheforeignexchangetransactioncontractmustnotexceed90%oftheannualplannedtotalamountofforeigncurrencyreceipts(payments).ThedeliveryperiodofforwardexchangetransactionsneedstomatchtheCompany'spredictedforeigncurrencycollectiontime. |
ChangesinmarketpriceorfairvalueofproductsoftheinvestedderivativesduringtheReportingPeriod,andthedisclosureofspecificmethodsusedandrelevantassumptionsandparameterssetintheanalysisofthefairvalueofderivatives | Determinechangesinfairvaluebasedonmarketquotesfromexternalfinancialinstitutions. |
Litigation(ifapplicable) | Notapplicable |
DisclosuredateofBoardofDirectorsannouncementforapprovalofderivativesinvestment(ifany) | January14,2023 |
SpecialopinionsofindependentdirectorsonderivativesinvestmentandriskcontroloftheCompany | TheforwardexchangetransactionscarriedoutbytheCompanyistomeettheneedsofnormalproductionandoperation,notsolelyforprofit,andtheCompanyhasalsoformulatedtheInternalControlSystemforForwardExchangeTransactionstoavoidandpreventexchangeratefluctuationrisksandstrengthenriskmanagementandcontrol.Fordetails,pleaserefertotheCompany'sdisclosureonIndependentOpinionsofIndependentDirectorsonRelatedMattersonCNINFO(http://www.cninfo.com.cn)onJanuary14,2023 |
2)DerivativesinvestmentforthepurposeofspeculationduringtheReportingPeriod.
□Applicable?NotapplicableTheCompanydidnothaveanyderivativesinvestmentforthepurposeofspeculationduringtheReportingPeriod.
5.Usageofraisedcapitals?Applicable□Notapplicable
(1)Generaluseofraisedcapitals?Applicable□Notapplicable
Unit:RMBtenthousand
Yearofraisingcapitals | Wayofraisingcapitals | Totalamountofraisedcapitals | Netamountofraisedcapitals | Totalamountofraisedcapitalsusedinthecurrentperiod | Totalamountofraisedcapitalsused | TotalamountofraisedcapitalsforchangeofpurposeduringtheReportingPeriod | Cumulativetotalamountofraisedcapitalswithchangedpurposes | Cumulativetotalamountproportionofraisedcapitalswithchangedpurposes | Totalamountofunusedraisedcapitals | Purposeanddestinationofunusedraisedcapitals | Amountofraisedcapitalswhichhavebeenidleformorethantwoyears |
2019 | Publicofferingofconvertiblebonds | 56,543.65 | 56,543.65 | 3,233.42 | 47,801.67 | 0 | 0 | 0.00% | 8,741.98 | Temporaryreplenishmentanddepositinthespecialaccountforraisedcapitals | 0 |
2021 | Non-publicofferingofshares | 103,684.71 | 103,684.71 | 46,698.69 | 87,334.01 | 0 | 69,144.83 | 66.69% | 16,350.70 | Temporaryreplenishmentanddepositinthespecialaccountforraisedcapitals | 0 |
Total | -- | 160,228.36 | 160,228.36 | 49,932.11 | 135,135.68 | 0 | 69,144.83 | 43.15% | 25,092.68 | -- | 0 |
Generaluseofraisedcapitals |
1.Actualamountandtimeofarrivalofcapitalsraised(1)Publicofferingofconvertiblecorporatebondstoraisefundsin2019TheCompanypubliclyissued5.73millionconvertiblecorporatebondsonMarch7,2019,eachwithaparvalueofRMB100,withatotalamountofRMB573million,withtheapprovalintheReplyofChinaSecuritiesRegulatoryCommissionontheApprovalofPublicOfferingofConvertibleCorporateBondsbyShenzhenTopbandCo.,Ltd.(ZJXK[2018]No.1842).Theissuancemethodwaspriorityplacementtooriginalshareholders,andthebalanceafterpriorityplacementtooriginalshareholders(includingthepartforwhichtheoriginalshareholdersgaveuppriorityplacement)wasissuedtopublicinvestorsonlinethroughthetradingsystemofShenzhenStockExchange,withstand-byunderwritingofthepartwiththesubscriptionamountlessthanRMB573millionbytheleadunderwriter.CapitalswithatotalamountofRMB573,000,000.00wereraised,andthenetcapitalsraisedwereRMB565,436,509.42afterdeductionofalltheissuancecostsamountingtoRMB7,563,490.58.ThecapitalsarrivedonMarch13,2019.RuihuaCertifiedPublicAccountants(SpecialGeneralPartnership)verifiedthearrivalandissuedtheCapitalVerificationReport(RHYZ[2019]No.48270001).(2)Non-publicofferingofsharestoraisecapitalsin2021ShenzhenTopbandCo.,Ltd.issued92,105,263AsharestospecifictargetsinprivateatthepriceofRMB11.40perstock,withaparvalueofRMB1perstock,withtheapprovalintheReplyofChinaSecuritiesRegulatoryCommissionontheApprovalofNon-publicOfferingofSharesbyShenzhenTopbandCo.,Ltd.(ZJXK[2020]No.1865).ThetotalamountoffundsraisedwasRMB1,049,999,998.20,andthenetfundsactuallyavailableforusewereRMB1,036,847,068.71afterdeductionofalltheissuancecostsamountingtoRMB13,152,929.49(tax-exclusive).ThefundsweretransferredtotheCompany'sspecialaccountforraisingfundsonMay10,2021.BakerTillyChinaCertifiedPublicAccountants(SpecialGeneralPartnership)verifiedthearrivalandissuedtheCapitalVerificationReport(TZYZ[2021]No.29460)forthecapitals.2.Usageamountandbalanceoffundsraisedin2023(1)Useofcapitalsraisedbypublicissuingofconvertiblebondsin2019AsofDecember31,2023,theCompanyhasinvestedRMB478.0167millionincapital-raisingprojects.Amongthem,RMB451.7819millionwasdirectlyinvestedinthecapital-raisingprojects,andRMB26.2348millionwasreturnedbeforetheraisedcapitalswereputinplace.OnDecember31,2023,RMB90millionidleraisedcapitalswasusedtotemporarilysupplementtheworkingcapital;asofDecember31,2023,thebalanceoftheraisedcapitalsaccountwasRMB4.0609million(includinginterestincome).(2)Non-publicofferingofsharestoraisecapitalsin2022AsofDecember31,2023,theCompanyhadinvestedRMB873.3401millionincapital-raisingprojects.Amongothers,RMB696.0206millionwasdirectlyinvestedincapital-raisingprojects,RMB45.3987millionwasreturnedbeforetheraisedcapitalswereputinplace,andRMB131.9208millionwasusedtopayforthecapital-raisingprojectsusingbankers'acceptancebillsandinvestedinthecapital-raisingprojectswiththecapitalraisedinequalreplacement.OnDecember31,2023,RMB130millionidleraisedcapitalswereusedtotemporarilysupplementtheworkingcapital,andtheamountofidleraisedcapitalsundercashmanagementwasRMB19.6425million;asofDecember31,2023,thebalanceofthecapital-raisingaccountwasRMB15.1367million(includinginterestincome). |
(2)Situationofprojectswithcapital-raisingcommitments?Applicable□Notapplicable
Unit:RMBtenthousand
Projectswithinvestmentcommitmentsandinvestmentdirectionofoverraisedcapitals | Whethertheprojecthasbeenchanged(includingsomechanges) | Totalcommittedinvestmentofraisedcapitals | Totalinvestmentafteradjustment(1) | AmountinvestedduringtheReportingPeriod | Accumulatedinvestmentbytheendoftheperiod(2) | Investmentprogressbytheendoftheperiod(3)=(2)/(1) | Thedatewhentheprojectisreadyforuse | BenefitsachievedduringtheReportingPeriod | Whethertheexpectedbenefitsareachieved | Wherethereisanysignificantchangeinthefeasibilityoftheproject |
Committedinvestmentprojects | ||||||||||
ConstructionprojectofTopbandEastChinaOperationCenter | No | 56,543.65 | 56,543.65 | 3,233.42 | 47,801.67 | 84.54% | Someareinuse,andtherestarestillunderconstruction | -3,192.87 | Notapplicable | No |
TopbandHuizhouNo. | Yes | 73,684.71 | 4,539.87 | 0 | 4,539.87 | 100.00% | Notapplicable | Notapplicabl | No |
2IndustrialParkProject | e | |||||||||
TopbandNantongIndustrialParkPhase-IStage-1Project(LithiumBattery) | Yes | 61,000 | 38,553.86 | 44,649.31 | 73.20% | Notapplicable | No | |||
ReplenishtheCompany'sworkingcapital | No | 30,000.00 | 38,144.83 | 8,144.83 | 38,144.83 | 100.00% | Notapplicable | No | ||
Subtotalofcommittedinvestmentprojects | -- | 160,228.36 | 160,228.36 | 49,932.11 | 135,135.68 | -- | -- | -3,192.87 | -- | -- |
Investmentdirectionofoverraisedcapitals | ||||||||||
None | ||||||||||
Total | -- | 160,228.36 | 160,228.36 | 49,932.11 | 135,135.68 | -- | -- | -3,192.87 | -- | -- |
Explanationofthesituationandreasonsoffailingtoreachtheplannedprogressorexpectedincome(byspecificproject)(includingthereasonforselecting"Notapplicable"for"whethertheexpectedincomehasbeenachieved") | None | |||||||||
Explanationofmajorchangesinprojectfeasibility | None | |||||||||
Amount,useandprogressofoverraisedcapitals | Notapplicable | |||||||||
Changeofimplementationlocationofinvestmentprojectswithraisedcapitals | Applicable | |||||||||
Changesoccurredinpreviousyears | ||||||||||
1.OnJanuary8,2022,theCompanyheldthe18thMeetingofthe7thBoardofDirectors,deliberatedandpassedtheProposalontheImplementationMode,SubjectandLocationofChangesinSomeCapital-raisingProjects,andagreedthattheCompanywouldchangetheimplementationsubject,locationandmodeofthelithiumbatterybusinessintheplannedproject.Specifically,theimplementationplacewaschangedfromHuizhou,GuangdongProvincetoNantong,JiangsuProvince.2.OnAugust18,2022,theCompanyheldthe27th(Extraordinary)Meetingofthe7thBoardofDirectors,deliberatedandpassedtheProposalonChangingtheImplementationModeandLocationAgaininSomeCapital-raisingProjects,andagreedtochangesintheimplementationmodeandlocationof"TopbandNantongIndustrial |
ParkPhase-IStage-1Project(LithiumBattery)",wherethelocationwaschangedfrom"AreaA,NantongFreeTradeZone,Jiangsu"to"NantongEconomicTechnologicalDevelopmentArea,Jiangsu". | |
Adjustmentofimplementationmodeofinvestmentprojectswithraisedcapitals | Applicable |
Changesoccurredinpreviousyears | |
1.OnJanuary8,2022,theCompanyheldthe18thMeetingofthe7thBoardofDirectors,deliberatedandpassedtheProposalontheImplementationMode,SubjectandLocationofChangesinSomeCapital-raisingProjects,andagreedthattheCompanywouldchangetheimplementationsubject,locationandmodeofthelithiumbatterybusinessintheplannedproject.Specifically,theimplementationmodewaschangedfromthelandacquisitionforbuildingconstructiontothedirectpurchasingofbuildingswithinfrastructureconstructed.2.OnAugust18,2022,theCompanyheldthe27th(Extraordinary)Meetingofthe7thBoardofDirectors,deliberatedandpassedtheProposalonChangingtheImplementationModeandLocationAgaininSomeCapital-raisingProjects,andagreedtochangesintheimplementationmodeandlocationof"TopbandNantongIndustrialParkPhase-IStage-1Project(LithiumBattery)",wherethemodewaschangedfrom"thedirectpurchasingofbuildingswithinfrastructureconstructed"to"thelandacquisitionforbuildingconstruction".ChangesoccurredduringtheReportingPeriod:OnSeptember7,2023,theCompanyheldthe37thMeetingofthe7thBoardofDirectorsandthe30thmeetingofthe7thBoardofSupervisors,deliberatedandpassedtheProposalonChangingtheUseofPartoftheRaisedFundsandPermanentlySupplementingWorkingCapital,andagreedthattheuseoftheremainingraisedfundsfortheTopbandHuizhouNo.2IndustrialParkProject(Motor)forwhichtheCompanyissuedsharesinthenon-publicmannerin2021wouldbechangedtopermanentlysupplementingworkingcapital,andtheremainingRMB81.4483million(excludinginterestincome)wouldbeusedtopermanentlysupplementworkingcapitalfortheCompany'sdailyoperatingactivities.TheabovechangesweredeliberatedandpassedbytheGeneralMeetingofShareholders. | |
Upfrontinvestmentandreplacementofinvestmentprojectswithraisedcapitals | Applicable |
1.TheCompanyinvestedRMB26.2348millioninadvanceintheoperationcenterprojectofTopbandEastChinawithself-raisedcapitals.RuihuaCertifiedPublicAccountants(SpecialGeneralPartnership)conductsaspecialauditontheabovematters,andissuestheAuthenticationReportontheReportofShenzhenTopbandCo.,Ltd.ontheInvestmentProjectswithSelf-raisedCapitalsinAdvance(RHHZ[2019]No.48250027).OnJuly25,2019,the25thMeetingofthe5thBoardofDirectorsoftheCompanydeliberatedandpassedtheProposalonUsingRaisedCapitalstoReplaceSelf-raisedCapitalsInvestedinAdvance.TheCompanyhadreplacedthepre-investedself-raisedfundsasofAugust1,2019.2.TheCompanyinvestedRMB45.3987millioninTopbandHuizhouNo.2IndustrialParkProjectwithself-raisedfundsinadvance.BakerTillyChinaCertifiedPublicAccountants(SpecialGeneralPartnership)conductedaspecialauditonthematterabove,andissuedtheAuthenticationReportofPre-investmentofShenzhenTopbandCo.,Ltd.intheInvestmentProjectofFundsRaisedwithSelf-raisedFunds(TZYZ[2021]No.31911).The10thMeetingofthe7thBoardofDirectorswasheldtoreviewandapprovetheProposalonReplacementofPre-investedSelf-raisedFundswithFundsRaisedonJune8,2021.TheCompanyhadreplacedthepre-investedself-raisedfundsasofJune10,2021.TheBoardofSupervisors,IndependentDirectorsandSponsorInstitutionsoftheCompanyallexpressedtheirclearconsentonthematter. | |
Temporaryreplenishmentofworkingcapitalwithidlecapitalsraised | Applicable |
1.OnDecember1,2023,theCompanyheldthe30thMeetingofthe7thBoardofDirectors,deliberatedandpassedtheProposalonTemporarilyReplenishingWorkingCapitalwithSomeIdleRaisedCapitals,andagreedthattheCompanywouldtemporarilyreplenishworkingcapitalwithnomorethanRMB220millionidlecapitalsraised,withaperiodofnotmorethan12months.AsofDecember31,2023,RMB220milliontemporarysupplementarycurrentassetshadbeenused.TheBoardofSupervisors,IndependentDirectorsandSponsorInstitutionsoftheCompanyallexpressedtheirclearconsentonthematter. | |
Amountandreasonsofthebalanceofraisedcapitalsinprojectimplementation | Notapplicable |
Purposeandwhereaboutsofunusedraisedcapitals | 1.OnDecember1,2023,theCompanyheldthe30thMeetingofthe7thBoardofDirectors,deliberatedandpassedtheProposalonTemporarilyReplenishingWorkingCapitalwithSomeIdleRaisedCapitals,andagreedthattheCompanywouldtemporarilyreplenishworkingcapitalwithnomorethanRMB220millionidlecapitalsraised,withaperiodofnotmorethan12months.AsofDecember31,2023,RMB220milliontemporarysupplementarycurrentassetshadbeenused.TheBoardofSupervisors,IndependentDirectorsandSponsorInstitutionsoftheCompanyallexpressedtheirclear |
consentonthematter.2.OnMarch29,2023,theCompanyheldthe32ndMeetingofthe7thBoardofDirectors,deliberatedandpassedtheProposalonCashManagementwithSomeIdleRaisedCapitalsandSelf-ownFunds,andagreedthattheCompanywouldpurchaseshort-termprincipal-protectedbankfinancialproductswithnomorethanRMB100millionidleraisedcapitalsandnomorethanRMB600millionself-ownfunds.Thecapitalscanbeusedonarollingbasiswithintheamountabove.AsofDecember31,2023,theCompanyhadusedRMB19.6425millionidlecapitalsraisedforcashmanagement.TheBoardofSupervisors,IndependentDirectorsandSponsorInstitutionsoftheCompanyallexpressedtheirclearconsentonthematter.3.TheremainingunusedraisedcapitalsaredepositedintheCompany'sspecialaccountforraisingfunds. | |
Problemsorothersituationsintheusageanddisclosureofraisedcapitals | None |
(3)Changeofprojectswithraisedcapitals?Applicable□Notapplicable
Unit:RMBtenthousand
Projectafterchange | Correspondingoriginallypromisedproject | Totalamountofraisedfundstobeinvestedintheprojectafterchange(1) | ActualinvestmentduringtheReportingPeriod | Actualcumulativeinvestmentbytheendoftheperiod(2) | Investmentprogressbytheendoftheperiod(3)=(2)/(1) | Thedatewhentheprojectisreadyforuse | BenefitsachievedduringtheReportingPeriod | Whethertheexpectedbenefitsareachieved | Isthereanysignificantchangeinthefeasibilityoftheprojectafterchange |
TopbandNantongIndustrialParkPhase-IStage-1Project(LithiumBattery) | TopbandHuizhouNo.2IndustrialParkProject(LithiumBattery) | 61,000.00 | 38,553.86 | 44,649.31 | 73.20% | 0 | Notapplicable | No | |
ReplenishtheCompany'sworkingcapital | TopbandHuizhouNo.2IndustrialParkProject(Motor) | 38,144.83 | 8,144.83 | 38,144.83 | 100.00% | 0 | Notapplicable | No | |
Total | -- | 99,144.83 | 46,698.69 | 82,794.14 | -- | -- | 0 | -- | -- |
Explanationofreasonforchange,decision-makingprocedure,andinformationdisclosure(byspecificproject) | (1)InJanuary2022,thedownstreammarketdemandwasstrongduetotherapiddevelopmentoftheCompany'slithiumbatterybusinessinrecentyears.TheCompanyoriginallyplannedtopurchaselandandconstructfactorybuildingstopromotethelithiumbatteryproject,withaconstructionperiodof2years.IntheCompany'sNantonglithiumbatteryproject,theinfrastructureoftheexistingfactorybuildingspurchasedwasalreadycompleted,sotheconstructionperiodoftheprojectwillbegreatlyshortened.Inordertopromotetheexpansionoflithiumbatterybusinessassoonaspossible,fullyseizemarketopportunitiesinthelithiumbatteryindustryandnewenergyindustry,enhancetheCompany'smarketcompetitivenessandbusinessperformanceandutilizeraisedfundsmoreefficiently,theCompanyplanstochangetheimplementationsubject,locationandmodeofthelithiumbatterybusinessintheoriginalfund-raisingprojectafteracomprehensiveevaluation.TheCompanyheldthe18th(Extraordinary)Meetingofthe7thBoardofDirectors,the15th(Extraordinary)Meetingofthe7thBoardofSupervisorsandthe1stExtraordinaryGeneralMeetingofShareholdersin2022,deliberatedandpassedtheProposalontheImplementationMode,SubjectandLocationofChangesinSomeCapital-raisingProjects,andagreedthattheCompanywouldchangetheimplementationsubject,locationandmodeofthelithiumbatterybusinessintheplannedproject.(2)InAugust2022,duetothechangeintheoverallplanoftheManagement |
CommitteeoftheNantongEconomicandTechnologicalDevelopmentZonefortheimplementationlocationoftheCompany'sTopbandNantongIndustrialParkPhase-IStage-1ProjectandinviewoftheutilizationefficiencyoftheCompany'sraisedfunds,thespeedofpromotingthefund-raisingprojectandtheCompany'sbusinessdevelopmentneeds,theCompanydecided,afterfriendlyconsultationwiththeManagementCommitteeoftheNantongEconomicandTechnologicalDevelopmentZone,togiveuptherighttopurchasetheuseofrelevantassets,changetheimplementationmodeandlocationofthefund-raisingproject,usetheraisedfundsanditsownfundstopurchasethelanduserightsofapproximately250muintheNantongEconomicandTechnologicalDevelopmentZone,andimplementtheTopbandNantongIndustrialParkPhase-IStage-1Project(LithiumBattery)throughself-construction.TheCompanyheldthe27th(Extraordinary)Meetingofthe7thBoardofDirectors,the22th(Extraordinary)Meetingofthe7thBoardofSupervisors,the2ndExtraordinaryGeneralMeetingofShareholdersin2022,deliberatedandpassedtheProposalonChangingtheImplementationModeandLocationAgainofSomeCapital-raisingProjects,andchangedtheimplementationmodeandlocationofthelithiumbatterybusinessintheplannedcapital-raisingprojectwiththenon-publicofferingofsharesin2021.(3)InSeptember2023,theCompanycontinuedtoimplementthemotorprojectinTopbandHuizhouNo.2IndustrialParkbasedontheoverallplanforandconstructionperiodofTopbandHuizhouNo.2IndustrialParkandthemarketdemandforthemotorproject.TheinputoffundsestimatedattheinitialstageoftheprojectisalreadydifficulttocovertheoverallprojectneedsofTopbandHuizhouNo.2IndustrialPark,anditisdifficulttomeettherequirementsfortheconstructionperiodofthemotorproject.Atthesametime,extendingtheconstructionperiodwillmakeitdifficulttomeetthemarketdemandforthemotorprojectinthefuture.Inordertocopewiththecomplexandever-changingmarketenvironment,theCompanyrealizedaproductioncapacityof3.5millionsetsofhigh-efficiencymotorsperyearinmatureindustrialparksinShenzhen,Vietnam,etc.simultaneouslywithitsownsupplementaryfunds,inordertoquicklyseizemarketopportunities.Subsequently,theCompanywillcontinuetopayattentiontothemarketenvironment,dynamicallyadjustitslayout,andcontinuetouseitsownfundstoinvestintheconstructionoftheproject,inordertoensuretheCompany'smarketcompetitivenessinthemotorfield.Therefore,theCompanychangedtheuseoffundsraisedforTopbandHuizhouNo.2IndustrialPark(Motor),andusedtheraisedfundsandcorrespondinginterestincometopermanentlysupplementworkingcapital.OnSeptember7,2023,theCompanyheldthe37thMeetingofthe7thBoardofDirectors,the30thMeetingofthe7thBoardofSupervisorsandthe2ndExtraordinaryGeneralMeetingofShareholdersin2023,anddeliberatedandpassedtheProposalonChangingtheUseofPartoftheRaisedFundsandPermanentlySupplementingWorkingCapital.(4)TheCompanydisclosedtheaboveinformationinstrictaccordancewiththeinformationdisclosurerequirements. | |
Explanationofthesituationandreasonsoffailingtoreachtheplannedprogressorexpectedincome(byspecificproject) | Notapplicable |
Explanationofmajorchangesinthefeasibilityoftheprojectafterchange | Notapplicable |
VIII.Saleofmajorassetsandequity
1.Saleofmajorassets
□Applicable?NotapplicableTheCompanydidnotsellanymajorassetsduringtheReportingPeriod.
2.Saleofmajorequity
□Applicable?Notapplicable
IX.Analysisofmajorholdingandequityparticipatingcompanies?Applicable□NotapplicableSituationofmajorsubsidiariesandequityparticipatingcompanieswithanimpactof10%ormoreonnetprofitoftheCompany
Unit:RMB
Companyname | Companytype | Mainbusiness | Registeredcapital | Totalassets | Netassets | Operatingincome | Operatingprofit | Netprofit |
HuizhouTopbandElectricalTechnologyCo.,Ltd. | Subsidiary | R&D,production,sales,importandexportofelectroniccomponents | RMB30,000 | 4,127,523,628.15 | 1,954,519,634.67 | 5,987,503,467.89 | 329,563,046.59 | 297,238,314.09 |
TopbandSMARTDONGNAI(VIETNAM)COMPANYLIMITED | Sub-subsidiary | R&D,production,sales,importandexportofelectroniccomponents | USD33.5million | 825,183,505.15 | 465,452,939.58 | 865,603,001.00 | 204,103,659.17 | 202,974,764.93 |
SituationofacquisitionanddisposalofsubsidiariesduringtheReportingPeriod?Applicable□Notapplicable
Companyname | MethodofacquisitionanddisposalofsubsidiariesduringtheReportingPeriod | Impactonoverallproductionandoperationsandresults |
YolanessTechnology(HK)Co.,Limited | Newlyestablishedandacquired | NosignificantimpactontheresultsoftheReport |
HuizhouJiuwanLvyuanAgricultureCo.,Ltd. | Newlyestablishedandacquired | NosignificantimpactontheresultsoftheReport |
YOLANESSAFRICA(PTY)LTD | Newlyestablishedandacquired | NosignificantimpactontheresultsoftheReport |
Topband(Vietnam)Co.,ltd | Liquidatedandderegistered | NosignificantimpactontheresultsoftheReport |
ExplanationofmajorshareholdingcompaniesNone.
X.SituationofstructuredentitycontrolledbytheCompany
□Applicable?Notapplicable
XI.ProspectsforthefuturedevelopmentoftheCompany
(I)Socialdevelopmenttrendand2030vision
1.IntelligencedevelopmentThedevelopmentandapplicationexpansionofnewtechnologiessuchasIOT,5GandAIwillopenupgrowthspaceandcontinuouslyacceleratetheprocessofsocialintelligence.ItisexpectedthattheeconomicvalueaffectedbytechnologieswillexceedUSD60trillionby2030.TheCompanywillcontinuetoexplore
innovativetechnologiesinthefutureworldandexpandnewopportunitiesforindustryintelligenceinvariousapplicationscenariossuchasclothing,food,housingandtransportation,enterprises,andcities.
Withtherapiddevelopmentofartificialintelligence(AI)technologyandespeciallybreakthroughsinlargemodelsandrobotics,wearestandingonthethresholdofaneweraofintelligence.LargeAImodelssuchasGPTandBERThavedemonstratedamazinglanguageunderstandingandgenerationcapabilities,whichwillnotonlygreatlyenhancetheintelligencelevelofourproductsandservices,butalsoprovideuswithnewopportunitiestodeeplyexploredatavalue,optimizebusinessprocessesandinnovateuserinteractionmethods.Especiallyinthefieldofrobotics,weforeseethatwiththefurtheroptimizationofAIalgorithmsandthein-depthapplicationofmachinelearningtechnology,futurerobotswillbemoreintelligentandautonomous.Theserobotscannotonlyperformcomplexphysicaltasks,butalsocarryoutadvanceddecision-makingandlearning.Theywillbewidelyusedinmanufacturing,service,householdandmedicalfieldstogreatlyimprovetheefficiencyofproductionandthequalityoflife.
TheCompanywillkeeppacewiththistrendofintelligencedevelopmentandincreaseR&DinvestmentsinAI,bigmodelsandrobotics.Wearecommittedtointegratingthesecutting-edgetechnologiesintoourproductsandsolutions,notonlytoimprovethelevelofintelligenceofexistingproducts,butalsotoexplorenewbusinessmodelsandmarketopportunities.Throughtechnologicalinnovation,wewillprovidecustomerswithmoreintelligent,efficientandpersonalizedservices,andpromotetheCompany'scontinuedgrowthanddevelopmentintheeraofintelligence.
2.Low-carbondevelopment
Theclimatecrisiscausedbygreenhousegasesisdeepeningyearbyyear,drivingenergyconservationandcarbonreductionincountriesaroundtheworld.Itisexpectedthatby2050,China'scumulativeinvestmentinvariousaspectssuchasenergyproduction,energyuseandecologywillreachRMB300trillion.TheCompanywillusethetechnologyof"fourelectricsandonenetwork"andseizethemarketopportunitiesbroughtbythe"carbonpeakingandcarbonneutrality"policy,helpingwiththegloballow-carbondevelopment.
Onaglobalscale,low-carbondevelopmenthasbecomeanirreversibletrend.Facedwiththechallengesbroughtbyclimatechange,theCompanyisactivelyembracingalow-carbonfuturewithunprecedenteddetermination.Webelievethatthroughtechnologicalinnovation,wecannotonlyaddressenvironmentalchallenges,butalsocreateaneweraofgreenenergyandsustainabledevelopment.
Weareengagedinin-depthR&Dandpromotionofgreenenergytechnologiescenteredonpowerelectronics,electrochemistryanddigitaltechnology.Theapplicationofthesetechnologieswillgreatlyimprove
energyutilizationefficiency,reducecarbonemissions,andpromotethegreentransformationoftheenergyindustry.Inparticular,ourintegratedsolutionsforsolarpowergeneration,energystorageandchargingprovidestrongsupportforenergysystemswithzerocarbonemissionsbyintegratingsolarpowergeneration,energystorageandintelligentchargingtechnologies.Inthefuture,wewillcontinuetoexploreanddevelopmoreinnovativelow-carbontechnologiesandsolutions.Wearecommittedtobecomingaleaderinlow-carbontransformationandhelpingglobalcustomersachievegreenerandmoresustainabledevelopmentthroughourtechnologiesandsolutions.Webelievethatthroughunremittingefforts,wecanmakesignificantcontributionstothegloballow-carbongoalsandjointlycreateacleanerandbetterfuture.
3.InternationalizationAstheglobalsupplychainfluctuatesmoretempestuously,itssafetyrisksareincreasing,andthesupplychainisdevelopingtowardsmulticentralization,internationalizationandmultiregionallocalization.Ontheonehand,withtheincreasingcomplexity,personalization,anddifferentiationofterminalproducts,theproductR&Danddeliveryarerequiredtobefast,andthequalitybereliableandstable.China'sindustrialclustersandengineerdividendshavepromotedthetransferofindustriestoChina.Ontheotherhand,withtheimpactofinternationaltradeconflicts,geopoliticalfactors,andotherfactors,theriskofasingleChineseindustrialchainhassignificantlyincreased.Withacombinationofthetwofactors,theindustrywillgraduallyshowatrendofmainlyfocusingonChinaanddevelopingtowardsmultipleregionssuchasSoutheastAsiaandNorthAmerica.TheCompanywillactivelyrespondtonewchallengesinthesupplychain,expandnewopportunitiesinmultipleregions,andacceleratethepaceofinternationalization.
2030visionoftheCompanyBy2030,theCompany'sgoalistoprovidecustomerswithintelligentsolutionsthroughdeepinsightintothepainpointsofusers,scenariosandindustries,makingtheworldsmarterandlower-carbon.
Anintelligentsocietyistheirresistibletrend,withalong-term,continuous,wide-rangingandfar-reachingchange,whichwilldeeplyaffectmodernlifeandchangetheformofproducts.Wewillseizethehistoricalopportunityofintelligent,scenario-based,greenandlow-carbondevelopment,activelyinnovatebusinessmodels,maketransformfromcomponentstoproductsandthentosolutions,innovatehomeappliancebusinessaroundthe"fourelectricsandonenetwork"technology,cultivateblueoceanmarket,expandtoolbusinessproductcategories,maintainleadingmarketshare,andacceleratethedevelopmentofnewenergyandindustrialbusiness,achievingscalegrowth.
(II)DevelopmentstrategiesoftheCompany
1.FocusingonstrategyforsustainedandeffectivegrowthIn2021,basedontheCompany'sinterimdevelopmentgoalsfor2025,avisionblueprintforthenextdecadewasformulated,andthelong-termdevelopmentgoalsfor2030wereclearlyproposed.TheCompanywillcontinuetofocusonscalegrowthasitscoregoal,deepentheimplementationofthefivestrategicpoliciesof"scalegrowth,closecustomerrelationship,innovation-drivendevelopment,agileoperationandorganizationalevolution",buildapyramidprofitmodel,enhanceleadingpositioninglobalintelligentcontrolsolutionproviders,andachievesustainedandeffectivegrowth.
TheCompanywillprovideone-stopintelligentcontrolsolutionsandservicesfortheworld'sleadingbrandcustomerswiththeadvantageofthe"fourelectricsandonenetwork"technology,especiallyincreasingbusinessdevelopmentinthenewenergyindustry,focusingonfourmainbusinessesofthe"homeappliances+tools+newenergy+industry",andmakegooduseofthecapitalmarketplatformtoachievehighgrowthinoperatingincomescalethroughacombinationofendogenousandextendedmethods.
2.Continuouslyenhancinginnovation-driventechnologyandproductcompetitiveness
TheCompanywilladheretoinnovation-drivendevelopment,continuouslymaintainR&Dinvestment,strengthenbasicandcutting-edgetechnologyresearch,constructtechnologycontrolpoints,strengthenproductlineconstructionandcreatemorehigh-qualityproductplatforms,promotetheprotectionofintellectualassetssuchaspatentsandtradesecrets,buildtechnologicalbarriers,cultivateinnovativegrowthengines,andstrengthenthecultivationofinnovativetalents.
Atthesametime,theCompanywillseizedevelopmentopportunitiessuchas"intelligence"and"low-carbon",activelyexploreinnovativebusinessessuchastheInternetofThingsandgreencommuting,consolidateandexpandthecoretechnicalcapabilitiesofthe"fourelectricsandonenetwork",enhancemarketandproductdevelopmentcapabilities,andexploremorehigh-valuemarkets.TheCompanyhasidentifiedkeydevelopmentplansfor"knock-outproducts"invariousfields,focusedonstrategicopportunitiesandstrengthenedinnovationeffortsaroundkeycategories.
3.Agileoperationforimprovingquality,reducingcostsandincreasingefficiency
TheCompanywilldeepentheimplementationofagileoperationstrategy,continuouslyoptimizebusinessprocessessuchasstrategy,marketing,R&D,sales,purchaseandafter-sales,andimproveend-to-endefficiency.TheCompanywillalsoincreaseeffortstoreducecostsandincreaseefficiency,andcomprehensivelyutilize
variousmeanssuchasR&Danddesigncostreduction,purchasecostreduction,andmanufacturingcostreductiontoachieveeffectivecostreductionformatureproducts.
4.Organizationalreformandcontinuousevolutionofprocess-orientedorganizationsTheCompanywillpromoteorganizationalevolutionstrategy,strengthentalentteambuilding,quicklyincreasethenumberofkeypositions,strengthenthecapacitybuildingofthemiddleofficeandbackground,betterempowertheirontriangleteam,andcreateacustomer-centeredprocess-orientedorganization.
5.Acceleratinginternationallayoutandbuildingglobalmulti-basedeliverycapabilitiesTheCompanywillcontinuetostrengthenitsclosecustomerrelationshipstrategy.Inordertomeettheneedsofcustomersforfastandnearbydelivery,andincombinationwithbusinessneeds,theCompanyhasestablishedoperationcenters,productionandmanufacturingcenters,R&Dcenters,andrepresentativeofficesinmultiplelocationsaroundtheworld.DuringtheReportingPeriod,theCompanyacceleratedtheprocessofachievingproductioncapacityinVietnamandIndia,andtheconstructionandmassproductionintroductionoffactoriesinMexicoandRomania;atthesametime,theCompanyutilizedtheadvantagesofgloballayouttostrengthensupplychainintegrationandenhancelocalpurchasecapabilities.(III)Businessplanfor2024
1.Realizescalegrowth:Basedonthecoretechnologyof"fourelectricsandonenetwork",continueimplementingthestrategyofleadingcustomers,leverageplatformadvantagesandothermeanstoachievescalegrowthinvariousindustries,andincreasetheproportionofhigh-valueproductsandautonomousandcontrollablebusiness;consolidateandexpandtheleadingadvantagesinthefieldsofhomeappliancesandtools,acceleratethegrowthofnewenergybusiness,andeffectivelyincubateinnovativebusiness;
2.Accelerateoverseasmarketexpansion:TheCompanywillaccelerateoverseasmarketexpansionbasedonoverseasmanufacture.In2024,theCompanywillexpanditsoverseasmarketingteam,notonlytoseizetheopportunityofordertransfer,butalsotoexploretheneedsofthelocalmarketandenhanceproductdefinitionanddevelopmentcapabilities.
3.DeepentheapplicationofAIandrobotproducts:Withtherapiddevelopmentofartificialintelligence(AI)andhumanoidrobottechnology,unprecedenteddevelopmentopportunitieshaveemergedintheintelligenceindustry.In2024,Topbandwillfurtherexplorenewindustrialopportunities,acceleratethedevelopmentofcoretechnologiessuchasmobilerobots,servodrivesandcontroltechnologies,createindustry-leadingflagshipproducts,activelydeveloptop-levelindustrycustomers,andpromotethein-depthapplicationofAItechnologyinexistingandemergingbusinessfields.
(IV)FunddemandandutilizationplanTheCompanyisinastageofrapiddevelopmentandhasasignificantfundingdemandintermsofequipmentupgrades,expansionofproductioncapacity,andoverseasbusinessdevelopment.TheCompanyhasagoodcreditstanding,soitisabletogetstrongsupportfromthebankinatimelymanner.In2024,theCompanywillcombineitsowndevelopmentsituationanddevelopmentstrategy,andmakereasonableuseofvariouscapital-raisingchannelstoraisethenecessaryfundsfortheCompany'sdevelopment.
(V)RisksfacedbytheCompanyandcountermeasures
1.ExternalriskssuchasthemacroenvironmentTradefrictionsandgeopoliticaltensionswillalsoproduceadverseinfluencesonbusinessconfidenceandinvestment.TheCompanymaycontinuetofaceanuncertainexternalenvironment,sowewillfurtherstrengthenriskidentificationandcontrolforvariousbusinessesandregionsandadjuststrategiestimelytominimizeexternalinfluences.
2.RisksoftechnologyupgradingTheintelligentcontrollerindustrytechnology,asthemainbusinessoftheCompany,isdevelopingrapidlywithfastproductupgradingandshortlifecycle.AlthoughtheCompanycontinuestoinvestinR&Dandownsanumberofinventionandutilitypatents,thereisstillariskthatthetechnologywillnotbeupdatedintimetomeetmarketdemand,orlagbehindcompetitorsinlaunchingnewproducts,resultinginadeclineinthemarketshareandprofitabilityoftheCompany.
3.ExchangerateriskTheCompany'srevenuefromexportsalesaccountsfornearly60%ofthetotalrevenue.Inordertocopewiththeriskofexchangeratefluctuation,theCompanywillreduceandhedgeforeignexchangerisksbyconductingRMBhedgingbusiness,internationalpurchaseandre-pricingofnewproduct.
4.OtherrisksTherearemanyuncertaintiesinthecurrentmacroenvironmentathomeandabroad,andtherearesomefactorsthatareunfavorabletotheoperationoftheCompany.Forexample,theChina-UnitedStatestradewar,shortageofrawmaterials,risingprice,insufficientlaborandcustomercreditriskwillincreasetheuncertaintyoftheCompany'soperation.XII.Reception,investigation,communication,interviewandotheractivitiesduringtheReportingPeriod?Applicable□Notapplicable
Timeofreception | Locationofreception | Methodofreception | Typeofreceptionobject | Receptionobject | Maincontentsofinterviewandmaterialsprovided | BasicInformationindexforinvestigation |
2023/1/62023/1/92023/1/122023/1/16 | ConferenceroomoftheCompany | Fieldsurvey | Organizations | TFSecurities,EverbrightSecurities,ShanghaiDuchengInvestment,YimiFund,HangzhouLaixingYuanpinInvestment,ZhongrongFund,Efunds,WesternLeadbankFMC,ChinaMerchantsSecurities,Deppon,ShanghaiSunsource,TFSecurities,ShanghaiQushiAssets,HaitongSecurities,CITICPrudentialFund,TaikangPension,CITICWealth,ShenzhenHillViewCapital,ShanghaiLingzeInvestment,PingAnAssetManagement,TemasekHoldingsConsulting(Shanghai),TengYuePartners,LP,SinolinkSecurities,UcanAssetManagement,Chengnuo(Shanghai)Investment,HSBCJintrustFund,AXASPDBInvestmentManagers,CurrentVC,GuotaiJunanSecurities,SinoLifeAsset,ShanghaiGreenwoods,ShenzhenHongdingWealthManagement,WesternLeadbankFMC,ChinaFutureCapital,MingyaFunds,GuoDuSecurities,RongtongFund,ChinaAssetManagement,ParantouxCapital,HarvestFund,LubaoInvestment,ShenzhenHongdingWealthManagement,RenBridgeFund,XinghuaFund,InforeCapital,BeijingZhenkeFund,AEGON-IndustrialFund,ChinaMerchantsFund,VFund,CCBLifeAssetManagement,JumpstartCapital,ShenzhenShanqiAssets,TaikangAssetManagement,ChinaMerchantsSecurities,Blackrock,WesternSecurities,TruvalueAssetManagement,SpringsCapital,EssenceSecurities,UBSSDIC,InvescoGreatWall,SoochowSecurities,Citibank,Blackrock,DymonAsiaCapital(Singapore),HSBCGlobalAssetManagementUSA,HelVedcapital,ManulifeAssetMgmt(HK)Ltd,MillenniumCapitalManagement,NeubergerBerman,NewSilkRoadInvestmentPte,POLYMERCAPITALMANAGEMENT,TempletonGlobalEquity,FrankinTempleton,DecentCapital,MatthewsInternationalCapital,GuosenSecurities,GFSecurties,HelVedCapitalManagement,PrudenceInvestmentManagement(HongKong),FangyuanFund(HongKong),EssenceFund,EasternSmartRock,ACORNAssetManagement,BeijingYutianAssetManagement,BiyunAssetManagement,BoseraFunds,DajiaAssetManagement,TebonFund,OrientalAlphaFund,SoochowSecurities,GFSecurities,FOUNDERFubonFund,FORTUNERoyalAsset,EverbrightSecurities,GFQianhe,CGB,GuangzhouRuiminPrivateEquityFund,FranklinTempletonSealandFund,GuolianLife,GuotaiFund,GuotaiJunanSecurities,SDICUBSFund,ChinaReformSecurities,GuosenSecurities,HaifutongFund,HangzhouWhiteRhinoAssetManagement,HangzhouQinpuPrivateEquityFund,TrueValuePartners,SequoiaCapitalEquityInvestment,HotlandInnovationAssetManagement,HuaAnFunds,HarforFunds,HSBCJintrustFund, | LearnabouttheoperationoftheCompany;noinformationprovided. | http://www.cninfo.com.cn |
ChinaUniversalAssetManagement,RisingAssetManagement,HarvestFund,CCBLifeAssetManagement,JiangsuRuihuaInvestment,BOCOMSchroders,KaiyuanSecurities,NingboYuanzhenMingzhiInvestment,BNBWealthManagement,ABCWealthManagement,LionFund,PenghuaFund,PingAnAssetManagement,SPDBAXAFund,FirstSeafrontFund,RenBridge(Beijing)AssetManagement,RongtongFund,RuidaAMC,SanyaHongshengAssetManagement,XiamenZhonglueInvestment,ShanghaiChengzhouAssetManagement,ShanghaiShengmengAssetManagement,ShanghaiOrientSecurities,ShanghaiCoastalHornPrivateEquityFund,ShanghaiHedaoAssetManagement,ShanghaiChaosInvestment,ShanghaiMingyuAssetManagement,Panjinginvest.com,ShanghaiChaserAssetManagement,ShanghaiRunSafeFund,ShanghaiHawthornTreeZhenzhuoAssetManagement,ShanghaiTulingAssetManagement,ShanghaiZongyiHolding,ShenwanHongyuanSecurities,ShenzhenELITIMESAssetManagement,ShenzhenJMInvestment,ShenzhenZhongyingInvestment,ShenzhenZhengyuanInvestment,WeixingAssetManagement,WesternSecurities,TibetYuanChengInvestment,SouthwestSecurities,NewChinaAsset,FirstStateCindaFund,Aegon-IndustrialFund,YimiFund,ZhonghaiFund,BankofBeijingScotiabankAssetManagement,BOCInternational,RosefinchFund. | ||||||
2023/2/12023/2/22023/2/32023/2/62023/2/72023/2/82023/2/9 | ConferenceroomoftheCompany | Fieldsurvey | Organizations | FullgoalFund,ShenzhenFlyingTigerInvestment,SDICUBSFunds,RisingAssetManagement,EssenceFund,ForeseaLifeInsurance,TaikangPensionInsurance,ZoomtrendInvestment,GuosenSecurities,LionFund,PenghuaFund,BaoyingFund,QianyouInvestment,YinhuaFund,PingAnFund,PanzeAssets,LegendInvestment,ShenzhenELITIMESFund,ShenzhenWeihongLong-termAssetManagement,ChinaSecurities,FOUNDERFubonFund,FirstCapital,ChangjiangSecurities,HainanSanhuaPrivateEquity,LeadHorseCapital,HuaChuangSecurities,HwabaoSecurities,NewChinaAsset,BOCAssetManagement,OrientFund,ShenwanHongyuanSecurities,CMSAssetManagement,JincanCapital,BoseraFunds,HwabaoWPFund,ChinaPostSecurities,CaoYanmei,ZheshangCommunications,HotlandInnovationAssetManagement,BlackRock,ChinaMerchantsFund,SinolinkSecurities,Aegon-IndustrialFund,regentscapita,ICBCCreditSuisseFund,ChinaMerchantsSecurities,CICCSecurities,ForesightFund,HarvestFund | LearnabouttheoperationoftheCompany;noinformationprovided. | http://www.cninfo.com.cn |
2023/2/142023/2/162023/2/202023/2/222023/2/23 | ConferenceroomoftheCompany | Fieldsurvey | Organizations | FOUNDERSecurities,GuotaiJunan,ChangjiangPension,ZSAMC,ExodusPoint,BrillianCapital,MiraeAsset,PolymerCapital,Oberweis,Jefferies,ChinaSecurities,HuashangFund,Haitong,HarvestFund,CICC,YudeCapital,CIGNACMBAssetManagement | LearnabouttheoperationoftheCompany;noinformationprovided. | http://www.cninfo.com.cn |
2023/2/272023/2/282023/3/12023/3/22023/3/62023/3/9 | ConferenceroomoftheCompany | Fieldsurvey | Organizations | AXASPDBInvestmentManagers,TFSecurities,CaitongFund,SamsungAssetManagement,ShinhanAssetManagement,abrdn,FYInvestment,LibraryGroupCapital,Haitong,DymonAsia,RongtongFund,HarvestFund,ShenzhenQianhaiYiyangInvestment,Citibank,SamsungInvestmentManagement(HongKong),HinrichFoundation,HSBCGlobalAssetManagement(HongKong),WonderlandInternational,WobaiBusinessConsulting(Shanghai),HeqiInvestment,FountainCapResearchInvestment(HongKong),SumitomoMitsuiDSAssetManagement(HongKong),MatthewsGlobalInvestors(HongKong),ManulifeInvestment(HongKong),CICC,HelVedcapital,GLGPartners,PleiadInvestment,OMERSAsia,BaopurongyiAssetManagement,TigerPacific | LearnabouttheoperationoftheCompany;noinformationprovided. | http://www.cninfo.com.cn |
2023/3/302023/3/31 | ConferenceroomoftheCompany | Fieldsurvey | Organizations | TFSecurities,CITICSecurities,HuataiSecurities,ZhongtaiSecurities,GuosenSecurities,CICCSecurities,GuotaiJunanSecurities,HaitongSecurities,ChinaMerchantsSecurities,ShenwanHongyuanSecurities,ChangjiangSecurities,SoochowSecurities,WesternSecurities,EverbrightSecurities,JefferiesSecurities,ChinaGalaxySecurities,ChinaLifeAssetManagement,GreenwoodsAssetManagement,SinolinkSecurities,TFSecurities,HFTInvestmentManagement,KoreaInvestmentTrustManagement,FullgoalFundManagement,ShanghaiPanjingInvestmentCenter(LimitedPartnership),HarvestFundManagement,HengtaiSecurities,HENGJIANINTERNATIONALINVESTMENTHOLDING(HONGKONG),ShenzhenHongDingWealthManagement,YimiFundManagement,ShanghaiXitaiInvestmentManagement,ShanghaiHeDaoAssetManagement,ParametricaManagementLimited,NeubergerBerman,First-trustFundManagement,HSBCJintrustFundManagement,InforeCapitalManagement,CyberAtlasCapital,JIAXUYINGHAI(Shanghai)FUNDManagement,ChinaInternationalCapitalCorporationLimited,ShanghaiJujinInvestment,BeijingRuiguInvestment,BeijingDingInvestment,GoldstateSecurities,ShenzhenGemboomInvestmentManagement,HSBCJintrustFundManagement,ZhejiangRiceBankAssetManagement,BOCInternational(China),ShanghaiStockExchange,DHFundManagement,BeijingYunfengAssetManagement,SealandSecurities,PacificAssetManagement,EssenceSecurities,MingyaFundManagement,ShanghaiChaosInvestment(Group),TaipingAssetManagement,HengtaiSecurities,ChinaSecurities,HotlandInnovationAssetManagement,FengpeiCAPITALLLC,ShenzhenHongDingWealthManagement,EverbrightSecurities,ShanghaiTourmalineAssetManagement,ShanghaiForesightInvestment,Huatai-PinebridgeFund | LearnabouttheoperationoftheCompany;noinformationprovided. | http://www.cninfo.com.cn |
Management,HangSengQianhaiFundManagement,SealandSecurities,ChinaLifeAMPAssetManagement,WesternLeadbankFundManagement,NingboLianshengAssetManagement,OriginAssetManagement,SINOLIFEASSET,RegentCapital,ShenZhenComeinFinanceandTechnology,HONOURALLIANCEINVESTMENTS,ShengangSecurities,MaxwealthFundManagement,YudeCapital,TibetYuanChengInvestment. | ||||||
2023/4/112023/4/122023/4/132023/4/14 | ConferenceroomoftheCompany | Fieldsurvey | Organizations | ShenzhenQianhaiOnlyWinFundManagement,DejuBrothersVentureCapital,ShenzhenNewValueCapitalManagement,HYWINWEALTHMANAGEMENT,MingfuFund,Mondrian,CICCSecurities,NomuraAssetManagement,CapitalInvestmentTrustCorporation,FranklinTempletonSinoAMSIMInc.,IGWTInvestment,CathayCapitalManagementInc.,ManulifeTEDAFundManagement,TianhongAssetManagement,BoseraFundManagement,ChinaLifeAssetManagement,HuachuangSecurities,SinosafeAssetManagement,CICCSecurities,Wellington,NeubergerBerman,CICCSecurities,NanJingDouble-SafeguardAssetManagement,CICCSecurities | LearnabouttheoperationoftheCompany;noinformationprovided. | http://www.cninfo.com.cn |
2023/4/14 | FlushRoadshowPlatform | On-linecommunicationonnetworkplatforms | Organizations | Performancepresentationsession | LearnabouttheoperationoftheCompany;noinformationprovided. | http://www.cninfo.com.cn |
2023/4/25 | ConferenceroomoftheCompany | Telephonecommunication | Organizations | GuotaiAssetManagement,BlackRockFundManagement,BOCInsurance,ChinaFutureCapitalGroup,GuoduSecurities,BeijingLongrisingAssetManagement,ExodusPoint,ChinaMerchantsSecurities,ShanghaiSilverLeafInvestment,HarvestFundManagement,BeijingDingInvestment,ShanghaiEverbestInvestmentManagers,TruvalueAssetManagement,SinolinkSecurities,RosefinchFundManagement,SinosafeAssetManagement,ChinaLifeAMPAssetManagement,ShanghaiChaserAssetManagement,TFSecurities,PenghuaFundManagement,XinyuanAssetManagement,ShanghaiYudeCapitalManagementCenter(LimitedPartnership),ShanghaiLingzeAssetManagement,ChangzhouBoyanRuixuanVentureCapital,BeijingEasternSmartRockAssetManagement,MinyaFundManagement,ShenzhenHongDingWealthManagement,AEGON-INDUSTRIALFundManagement,ShanghaiPanjingInvestmentCenter(LimitedPartnership),PinpointInvestmentManagement,OrientSecurities,HotlandInnovationAssetManagement,JtAssetManagement,BeijingRuiguInvestment,BOCInternational(China),ShanghaiFugeInvestmentManagement,ShanghaiQinyuanInvestmentManagement,DajiaAssetManagement,DACHENGFUNDMANAGEMENT,GuangzhouRUIMINASSETMANAGEMENT,GuosenSecurities,WesternLeadbankFundManagement,ShanghaiYingdongPrivate | LearnabouttheoperationoftheCompany;noinformationprovided. | http://www.cninfo.com.cn |
FundManagement,GuangzhouJinkongAssetManagement,NuodeAssetManagement,CCBLifeInsuranceAssetManagement,ShanghaiLingzeAssetManagement,ChinaPostLifeInsurance,ChongqingDeruiHengfengAssetManagement,ZheshangSecurities,BearingNo(Shanghai)InvestmentManagementCenter(L.P.),TaikangPensionInsurance,BeijingDingInvestment,FuandaFundManagement,ShanghaiChaosInvestment(Group),NeubergerBerman,HuataiSecurities,GoldenEagleAssetManagement,TaipeiFubonSecurities,ShanghaiXitaiInvestmentManagement,CITICSecurities,ABCWealthManagement,HaojunAssetManagement,RegentsCapital,ShengangSecurities,GuotaiJunanSecurities,ZheshangSecurities,ChinaSecurities,SoochowSecurities,WesternSecurities,ChangjiangSecurities,ShenwanHongyuanSecurities,GFSecurities,SinolinkSecurities,CICCSecurities,Citibank,GuosenSecurities,HuataiSecurities,ZHONGTAISECURITIES | ||||||
2023/5/30 | ConferenceroomoftheCompany | Fieldsurvey | Organizations | Citibank,CitiPrivateBank,NeubergerBerman,TemasekHoldings,SummitPartners,ICBCInternational,FullgoalFundManagement,HangSengInvestmentManagement,LanzhongInvestmentManagement | LearnabouttheoperationoftheCompany;noinformationprovided. | http://www.cninfo.com.cn |
2023/7/192023/7/20 | ConferenceroomoftheCompany | Fieldsurvey | Organizations | MondrianInvestmentPartnersLimited,Jefferies,D.E.Shaw&Co.,JefferiesHongKong,LingrenInvestment,GoldmanSachsAssetManagement,CanadaPensionPlanInvestmentBoard,GovernmentofSingaporeInvestmentCorporation | LearnabouttheoperationoftheCompany;noinformationprovided. | http://www.cninfo.com.cn |
2023/8/162023/8/17 | ConferenceroomoftheCompany | Telephonecommunication | Organizations | TibetYuanchengInvestment,ShanghaiXitaiInvestment,HarvestFund,FullgoalFund,ZheshangSecurities,NanjingDouble-SafeguardAssetManagement,PenghuaFund,HFTFund,BOCInternationalSecurities,FuandaFund,TaipingPension,RenBridgeAssetManagement,GuangzhouYourongManagementConsulting,ChangzhouBoyanRuixuanVentureCapitalInvestment,BeijingHexinJinchuangInvestment,BoseraFund,NanjingJinghenginvestment,HainanHengliPrivatePlacement,ShanghaiKingsunInvestment,FounderSecurities,RaysCapital,ShanghaiUnitedAdvancePrivatePlacement,AspexManagement,ShenzhenHillViewAssetManagement,ShanghaiTianniInvestment,V.StoneFund,HSBCJintrustFund,SinolinkSecurities,GHShiningAssetManagement,BlackRockFund,Aegon-IndustrialFund,YinhuaFund,ZhongtaiSecurities,UBSAssetManagement,BearingNo(Shanghai)Investment,ShanxiSecurities,ShenzhenUprightAssetManagement,ChinaLife,ShenzhenQianhaiJumpstartAssetManagement,RenBridgeAssetManagement,HangzhouYirongAssetManagement,ShanghaiFuturusVesselPrivatePlacement,JiyuanInvestment,ShanghaiPertrustInvestment,MingyaFund, | LearnabouttheoperationoftheCompany;noinformationprovided. | http://www.cninfo.com.cn |
ChinaFutureAssetManagement,ShanghaiPanjingInvestment,NingboWealthManagement,ChinaPostLifeInsurance,NeubergerBerman,NewChinaAssetManagement,OrientSecurities,ShanghaiHexiPrivatePlacement,HuataiPineBridgeFund,GeruAssetManagement,CICC,HuataiSecurities,BeijingFengpeiInvestment,ShanghaiSilverLeafInvestment,MerchantsSecurities,ChinaSecurities,BOSCAsset,CCBLife,SWSMUFund,ShanghaiTronyAssetManagement,HarforFunds,BOCInvestmentManagement,ChinaWealthManagement,ChangjiangSecurities,DajiaAssetManagement,LionFund,ShenzhenHongdingWealth,Chang'anInternationalTrust,ShanghaiDazhengAssetManagement,XingheFund,BankofSuzhou,YuheAssetManagement,TFSecurities,HangzhouHonghuaInvestment,NanyinWealthManagement,CUAM,DachengFund,ShanghaiQushi,IndustrialSecurities,EssenceAssetManagement,GreatWallFund,GreatWallWealthInsurance,ShanghaiFupeiinvestment,JTFund,HuashangFund,SunLifeEverbrightAssetManagement,C.C.F.Group,CCBPrincipalAssetManagement,XunyuanAssetManagement,HengtaiSecurities,HengAnStandardLife,AmundiBOCWealthManagement,ChinaLifeAMPAssetManagement,ComeinFinance,FountainVest,CITICPrudentialFund,PKUFI,ExodusPoint,WesternSecurities,ShengangSecurities,XingyinSecurities,Jefferies,GFSecurities,CaitongFund,HuaChuangSecurities,ShanghaiYinshengAssetManagement,ChangshengFund,First-TrustFund,Efunds,HZBANKWealthManagement,XingyinWealthManagement,GAAM,CaitongSecurities,ShanghaiYudeCapital,SpringsCapital,HarvestFund,MerchantsSecurities,SouthernAssetManagement,ChinaPostLifeInsurance,HwabaoWPFund,HorizonAssetManagement,BOCOMSchroders,JTFund,JingtaiLifeng,PenghuaFund,ShanghaiRiverFund,BNBWealthManagement,CIBWealthManagement,ShanghaiYudeCapital,BeixinRuifengFund,NuodeAssetManagement,ChinaSecurities,HSBCJintrustFund,HangSengQianhaiFund,FocusBridge,ShanghaiLeaderwayInvestment,HelVed,FuandaFund,ForeseaLifeInsurance,PHCapital,GuotaiJunan,Lierda,MaxwealthFund,OrientalAlpha | ||||||
2023/10/252023/8/18 | ConferenceroomoftheCompany | Telephonecommunication | Organizations | TFSecurities,XingyinFund,PacificSecuritiesAssetManagement,ChinaPostLifeInsurance,GeneraliChinaAssetManagement,GreatWallWealthInsurance,ForesightFund,ZhonghaiFund,SpringsCapital(Beijing),ShanghaiPuxingAssetManagement,HangzhouLequInvestment,ChangzhouBoyanRuixuanVentureCapitalInvestment,BOCInternationalSecurities,ChengtongFund,ZhejiangRiceBankAssetManagement,HarvestFund,HwabaoWPFund,BoCom-SchrodersFund,LoyalValley | LearnabouttheoperationoftheCompany;noinformationprovided. | http://www.cninfo.com.cn |
XIII.Implementationoftheactionplanfor"doubleimprovementofqualityandreturn"
DidtheCompanydisclosetheactionplanfor"doubleimprovementofqualityandreturn"?
□Yes?No
SectionIVCorporateGovernanceI.Basicstatusofcorporategovernance
Sinceitslisting,theCompanyhasalwaysadheredtostandardizedgovernance,strictlyfollowedtherequirementsofrelevantlawsandregulations,formulatedaseriesofinternalcorporategovernancesystems,andestablishedagovernancestructureoftheGeneralMeetingofShareholders,theBoardofDirectorsanditsspecialcommittees,theBoardofSupervisorsandmanagementlevelinaccordancewiththelawtorespectivelyexercisedecision-makingpower,executivepower,supervisorypowerandoperatingresponsibilities,ensuringtheCompany'sefficientoperationwithamulti-levelgovernancesystemwithclearpowersandresponsibilities.
ThroughtheimplementationoftheArticlesofAssociationandvariousinternalsystems,theCompanyhasdefinedtheresponsibilities,powers,proceduresandobligationsoforganizationsatalllevelsintermsofdecision-making,executionandsupervision.
ShareholdersandtheGeneralMeetingofShareholders:TheCompanystrictlyfollowstheprovisionsandrequirementsoflawsandregulationssuchastheCompanyLaw,theSecuritiesLaw,theRulesofProcedurefortheGeneralMeetingofShareholdersandtheRulesofProcedurefortheGeneralMeetingofShareholdersofListedCompanies,andcontinuallyimprovesthestandardizedoperationoftheCompany'sGeneralMeetingofShareholders.DuringtheReportingPeriod,theCompanyheldatotalof4generalmeetingsofshareholders(includingtheAnnualGeneralMeetingofShareholdersfor2022),deliberated32proposals,andorganizedvotesonallofthemthroughacombinationofon-siteandonlinevotingmethods;duringthedeliberationofeachproposal,theCompanyseparatelycountedvotesonmattersaffectingtheinterestsofminorityshareholders,andspeciallyprovideddialogsessionsbetweenparticipatingshareholdersandtheCompany'sdirectors,supervisorsandseniorexecutivestofullyensurethatallshareholdersandespeciallyminorityshareholdersenjoyequalstatusandfullyexercisetheirrights.
Relationshipbetweenthecontrollingshareholderandthelistedcompany:ThecontrollingshareholderregulateshisbehaviorinstrictaccordancewiththeSecuritiesLaw,theCodeofGovernanceforListedCompaniesandotherlawsandregulationsaswellastheArticlesofAssociation,andcanexercisehisrightsandassumecorrespondingobligationsinaccordancewiththelaw.ThecontrollingshareholderoftheCompanyisanindividualwhodoesnothaveotherinvestmentprojectsandhasnotdirectlyorindirectlyintervenedintheCompany'sdecision-makingandoperatingactivitiesbeyondtheCompany'sGeneralMeetingofShareholders.
TheBoardofDirectors,BoardofSupervisorsandcorrespondingdepartmentsoftheCompanycanoperatenormallyandhaveindependence.DirectorsandtheBoardofDirectors:AlldirectorsoftheCompanycancarryouttheirworkinaccordancewithlawsandregulationssuchastheRulesofProcedurefortheBoardofDirectorsandtheManagementMeasuresforIndependentDirectorsofListedCompanies,attendrelevantmeetingsseriously,activelyparticipateintraining,andfamiliarizethemselveswithrelevantlawsandregulations.TheCompany'sBoardofDirectorshassetupaStrategyCommittee,anAuditCommittee,aSalaryandAssessmentCommitteeandaNominationCommitteeaswellasamechanismofspecialmeetingsofindependentdirectors,andeachcommitteeperformsitsdutiesinstrictaccordancewiththerelevantlawsandregulationsandrulesofprocedure,providingcomplementaryinformationforthescientificdecision-makingoftheBoardofDirectors.DuringtheReportingPeriod,thetermoftheCompany's7thBoardofDirectorsexpired.AfterdeliberationbytheGeneralMeetingofShareholdersandtheCongressofWorkersandStaff,thenumberofmembersoftheBoardofDirectorswasadjustedfrom9to7.Re-electedmembersoftheBoardofDirectorsconsistof3independentdirectorsand4non-independentdirectors,including2directorsonbehalfofworkersandstaff.ThecompositionoftheBoardofDirectorscomplieswiththerequirementsoflawsandregulationsandtheCompany'sArticlesofAssociation.
SupervisorsandtheBoardofSupervisors:TheformationoftheCompany'sBoardofSupervisorsstrictlyfollowstherelevantprovisionsoftheCompanyLaw,theArticlesofAssociation,etc.TheBoardofSupervisorsconsistsofthreesupervisors.DuringtheReportingPeriod,membersofthe8thBoardofSupervisorswerere-electedafterdeliberationbytheGeneralMeetingofShareholdersandtheCongressofWorkersandStaff,includingonesupervisoronbehalfofworkersandstaff.TheCompany'ssupervisorsandBoardofSupervisorscanconscientiouslyperformtheirdutiesinaccordancewiththerequirementsoftheRulesofProcedurefortheBoardofSupervisors,reviewtheCompany'sregularreports,progressintheuseofraisedfunds,connectedtransactions,equityincentivesandothermattersandprovidewrittenreviewopinions,supervisedirectorsandseniorexecutivesinperformingtheircorporateduties,andsafeguardthelegitimaterightsandinterestsoftheCompanyandshareholders.
Performanceevaluationandincentiveandrestraintmechanism:TheCompanyhasestablishedaseriesofperformanceevaluationandincentiveandrestraintmechanisms,whichareopenandtransparentintheappointmentofseniorexecutivesandinaccordancewithrelevantlawsandregulations.
Relevantstakeholders:TheCompanycanfullyrespectandsafeguardthelegitimaterightsandinterestsofrelevantstakeholders,andactivelycooperatewithstakeholderstojointlypromotethesustainableandhealthydevelopmentoftheCompany.
Informationdisclosureandtransparency:TheCompanyconscientiouslyperformstheobligationofinformationdisclosureinaccordancewiththerelevantprovisionsoflawsandregulationssuchastheArticlesofAssociation,theStockListingRulesofShenzhenStockExchangeandtheManagementMeasuresforInformationDisclosureofListedCompanies.TheCompanyhasdesignatedSecuritiesTimesandtheCNINFOasthenewspaperandwebsiteforitsinformationdisclosuretoensuretimelyandaccuratedisclosureofcompanyinformation.Isthereanysignificantdifferencebetweentheactualsituationofcorporategovernanceandlaws,administrativeregulationsandtheregulationsoncorporategovernanceoflistedcompaniesissuedbytheCSRC?
□Yes?NoThereisnosignificantdifferencebetweentheactualsituationofcorporategovernanceandlaws,administrativeregulationsandtheregulationsoncorporategovernanceoflistedcompaniesissuedbytheCSRC.
II.TheindependenceoftheCompanyrelativetoitscontrollingshareholderandactualcontrollerinensuringtheCompany'sassets,personnel,finance,organizations,businessandotheraspects
ThecontrollingshareholderoftheCompanyisanaturalpersonandhasnootherinvestments.TheCompanyiscompletelyseparatedfromitscontrollingshareholderintermsofbusiness,personnel,assets,finance,etc.TheCompany'sproductionandoperationarestableandcanoperateindependentlyandinastandardizedmanner.
1.Businessindependence:TheCompany'sbusinessisindependentofitscontrollingshareholder,andtheCompanyhasacompleteandindependentproduction,supplyandsalessystem,withoutrelyingonshareholdersoranyotherrelatedparty.
2.Personnelindependence:TheCompanyhasanindependentworkforceandhasestablishedasoundpersonnelmanagementsystem.TheChairman,President,VicePresident,SecretaryoftheBoardofDirectors,ChiefFinancialDirectorandotherseniorexecutivesoftheCompanyworkfull-timeintheCompanyandreceiveremuneration.Theyhavenotheldanypositionsotherthandirectorsorsupervisorsinshareholderentitiesholdingmorethan5%oftheCompany'sequityandtheirsubsidiaries,norhavetheyheldanypositionsinothercompanieswiththesameorsimilarbusinessastheCompany.Independentpersonnelmanagement.
3.Assetindependence:TheCompanyhasindependentproductionandbusinesspremises,productionsystems,supportingfacilities,landusagerightsandpropertyownership,anddoesnotsharethemwiththecontrollingshareholder.
4.Organizationalindependence:TheCompanyhasestablishedasoundorganizationalsystemthatcanoperateindependently.Thereisnosubordinaterelationshipwiththecontrollingshareholder.
5.Financialindependence:TheCompanyhassetupanindependentfinancialaccountingdepartmentandestablishedindependentaccountingsystemandfinancialmanagementsystem,andindependentlycarriesoutfinancialoperationsaccordingtotherequirementsoftherelevantaccountingsystem.TheCompanyhasseparatebankaccounts,andconductsindependenttaxdeclarationandperformspaymentobligationsaccordingtolaw.
III.Competitioninthesameindustry
□Applicable?NotapplicableIV.InformationontheAnnualandExtraordinaryGeneralMeetingofShareholdersheldduringtheReportingPeriod
1.InformationontheGeneralMeetingofShareholdersduringtheReportingPeriod
Meetingsession | Meetingtype | Investorparticipationratio | Meetingdate | Dateofdisclosure | Meetingresolution |
2022AnnualGeneralMeetingofShareholders | AnnualGeneralMeetingofShareholders | 25.27% | 2023/04/21/ | 2023/04/22/ | 1.DeliberatedandpassedtheProposalon2022AnnualReportandAbstract;2.DeliberatedandpassedtheProposalon2022FinalFinancialReport;3.DeliberatedandpassedtheProposalon2022ProfitDistributionPlan;4.DeliberatedandpassedtheProposalonFormulatingtheShareholders'DividendPlanfortheNextThreeYears(2023-2025)ofShenzhenTopbandCo.Ltd.;5.DeliberatedandpassedtheProposalon2022WorkReportoftheBoardofDirectors;6.DeliberatedandpassedtheProposalon2022WorkReportoftheBoardofSupervisors;7.DeliberatedandpassedtheProposalonRemunerationofCompanyDirectorsin2022;8.DeliberatedandpassedtheProposalonRemunerationofCompanySupervisorsin2022;9.DeliberatedandpassedtheProposalonRepurchaseandCancellationofSomeRestrictedStocksfromRestrictedStockIncentivePlanin2021;10.DeliberatedandpassedtheProposalonApplicationforComprehensiveCreditLinefromBanksbytheCompanyandItsSubsidiariesin2023;11.DeliberatedandpassedtheProposalon |
RenewingtheEmploymentofAuditInstitutionin2023. | |||||
The1stExtraordinaryGeneralMeetingofShareholdersin2023 | ExtraordinaryGeneralMeetingofShareholders | 24.12% | 2023/06/21/ | 2023/06/22/ | 1.DeliberatedandpassedtheProposalonIncreasingtheCompany'sBusinessScopeandAmendingtheArticlesofAssociations. |
The2ndExtraordinaryGeneralMeetingofShareholdersin2023 | ExtraordinaryGeneralMeetingofShareholders | 23.08% | 2023/09/26/ | 2023/09/27/ | 1.DeliberatedandpassedtheProposalontheGeneralElectionofNon-independentDirectorsfortheBoardofDirectors;2.DeliberatedandpassedtheProposalontheGeneralElectionofIndependentDirectorsfortheBoardofDirectorsitembyitem;2.01ElectedMr.LiXumengasanindependentdirectorofthe8thBoardofDirectors2.02ElectedMr.ChenZhengxuasanindependentdirectorofthe8thBoardofDirectors2.03ElectedMr.QinWeiasanindependentdirectorofthe8thBoardofDirectors3.DeliberatedandpassedtheProposalontheGeneralElectionfortheCorporateBoardofSupervisorsitembyitem;3.01ElectedMs.DaiHuijuanasasupervisorofthe8thBoardofSupervisors3.02ElectedMr.KangWeiquanasasupervisorofthe8thBoardofSupervisors4.DeliberatedandpassedtheProposalonChangingtheUseofPartoftheRaisedFundsandPermanentlySupplementingWorkingCapital;5.DeliberatedandpassedtheProposalonRepurchaseandCancellationofSomeRestrictedStocksfromRestrictedStockIncentivePlanin2021;6.DeliberatedandpassedtheProposalonAmendingtheArticlesofAssociation;7.DeliberatedandpassedtheProposalonAmendingtheRulesofProcedurefortheGeneralMeetingofShareholders;8.DeliberatedandpassedtheProposalonAmendingtheRulesofProcedurefortheBoardofDirectors;9.DeliberatedandpassedtheProposalonAmendingtheRulesofProcedurefortheBoardofSupervisors;10.DeliberatedandpassedtheProposalonAmendingtheRulesofProcedurefortheAuditCommitteeoftheBoardofDirectors;11.DeliberatedandpassedtheProposalonAmendingtheRulesofProcedurefortheNominationCommitteeoftheBoardofDirectors;12.DeliberatedandpassedtheProposalonAmendingtheRulesofProcedurefortheSalaryandAssessmentCommitteeoftheBoardofDirectors;13.DeliberatedandpassedtheProposalon |
AmendingtheRulesofProcedurefortheStrategyCommitteeoftheBoardofDirectors;14.DeliberatedandpassedtheProposalonAmendingtheRemunerationManagementSystemforDirectors,SupervisorsandSeniorExecutives;15.DeliberatedandpassedtheProposalonAmendingtheManagementMeasuresfortheSharesoftheCompanyHeldbyDirectors,SupervisorsandSeniorExecutivesandChangesTherein;16.DeliberatedandpassedtheProposalonAmendingtheManagementMeasuresforRaisedFunds;17.DeliberatedandpassedtheProposalonAmendingtheExternalGuaranteeManagementSystem;18.DeliberatedandpassedtheProposalonAmendingtheRelated-partyTransactionManagementSystem;19.DeliberatedandpassedtheProposalonReviewingAllowancesforIndependentDirectors; | |||||
The3rdExtraordinaryGeneralMeetingofShareholdersin2023 | ExtraordinaryGeneralMeetingofShareholders | 19.83% | 2023/12/18/ | 2023/12/19/ | 1.DeliberatedandpassedtheProposalonTerminatingtheImplementationoftheRestrictedStockIncentivePlanfor2021andRepurchasingandCancellingRestrictedStocks. |
2.ThepreferredshareholderswithrestoredvotingrightsrequesttoconveneanExtraordinaryGeneralMeetingofShareholders
□Applicable?Notapplicable
V.Directors,supervisorsandseniorexecutives
1.Basicsituation
Name | Gender | Age | Position | Positionstatus | Startingdateoftermofoffice | Endingdateoftermofoffice | Numberofsharesheldatthebeginningoftheperiod(shares) | Numberofadditionalsharesheldinthecurrentperiod(shares) | Numberofsharesreducedinthecurrentperiod(shares) | Otherchangesinincreaseordecrease(shares) | Numberofsharesheldattheendoftheperiod(shares) | Reasonsforsharechangesinincreaseordecrease |
WuYongqiang | Male | 59 | ChairmanandPresident | Incumbent | 2011/08/29/ | 2026/09/25/ | 212,008,715 | 0 | 0 | 0 | 212,008,715 | Notapplicable |
JiShuhai | Male | 62 | Director | Outgoing | 2011/08/29/ | 2023/09/26/ | 27,318,642 | 0 | 0 | 0 | 27,318,642 | Notapplicable |
ZhengSibin | Male | 58 | DirectorandVicePresident | Incumbent | 2011/08/29/ | 2026/09/25/ | 6,336,970 | 0 | 0 | 0 | 6,336,970 | Notapplicable |
MaWei | Male | 50 | DirectorandVicePresident | Incumbent | 2011/08/29/ | 2026/09/25/ | 8,950,934 | 0 | 0 | 0 | 8,950,934 | Notapplicable |
PengGanquan | Male | 52 | Director | Incumbent | 2011/08/29/ | 2026/09/25/ | 5,136,900 | 0 | 0 | 0 | 5,136,900 | Notapplicable |
WuHang | Male | 40 | Director | Outgoing | 2014/09/12/ | 2023/09/26/ | 0 | 0 | 0 | 0 | 0 | Notapplicable |
HuangYuegang | Male | 66 | Independentdirector | Outgoing | 2020/09/14/ | 2023/09/26/ | 0 | 0 | 0 | 0 | 0 | Notapplicable |
HuaXiuping | Female | 46 | Independentdirector | Outgoing | 2017/09/09/ | 2023/09/26/ | 0 | 0 | 0 | 0 | 0 | Notapplicable |
LiXumeng | Male | 58 | Independentdirector | Incumbent | 2021/03/31/ | 2026/09/25/ | 0 | 0 | 0 | 0 | 0 | Notapplicable |
WenZhaohui | Female | 50 | VicePresidentandSecretaryoftheBoardofDirectors | Incumbent | 2011/08/29/ | 2026/09/25/ | 2,771,127 | 0 | 0 | 0 | 2,771,127 | Notapplicable |
XiangWei | Male | 47 | ChiefFinancialDirector | Outgoing | 2019/01/10/ | 2023/05/30/ | 764,500 | 0 | 238,100 | 0 | 526,400 | Theseniorexecutivesreducedtheirholdingby80,000sharesaccordingtothedisclosedholdingreductionplan,andcontinuedtoreducetheirholdingby30,000sharessixmonthsafterleavingoffice;atthesametime,theCompanyrepurchasedandcanceled128,100sharesinaccordancewiththeManagementMeasuresforEquityIncentivesofListedCompaniesandtheRestrictedStockIncentivePlanfor2021(RevisedDraft). |
DaiHuijuan | Female | 48 | Supervisor | Incumbent | 2011/08/29/ | 2026/09/25/ | 319,612 | 0 | 0 | 0 | 319,612 | Notapplicable |
KangWeiquan | Male | 40 | Supervisor | Incumbent | 2014/08/21/ | 2026/09/25/ | 0 | 0 | 0 | 0 | 0 | Notapplicable |
ChenJinzhou | Male | 46 | Supervisor | Incumbent | 2017/02/15/ | 2026/09/25/ | 0 | 0 | 0 | 0 | 0 | Notapplicable |
LuoMuchen | Male | 41 | ChiefFinancialDirector | Incumbent | 2023/05/30/ | 2026/09/25/ | 50,000 | 0 | 0 | 50,000 | Notapplicable | |
ChenZhengxu | Male | 56 | Independentdirector | Incumbent | 2023/09/26/ | 2026/09/25/ | 0 | 0 | 0 | 0 | Notapplicable | |
QinWei | Male | 45 | Independentdirector | Incumbent | 2023/09/26/ | 2026/09/25/ | 0 | 0 | 0 | 0 | Notapplicable | |
Total | -- | -- | -- | -- | -- | -- | 263,657,400 | 0 | 238,100 | 263,419,300 | -- |
IsthereanyresignationofdirectorsandsupervisorsduringtheirtermofofficeanddismissalofseniorexecutivesduringtheReportingPeriod?
?Yes□NoDuringtheReportingPeriod,Mr.XiangWei,theChiefFinancialDirectoroftheCompany,appliedtoresignastheChiefFinancialDirectorduetopersonalreasons.Afterhisresignation,Mr.XiangWeinolongerheldanypositionintheCompanyanditssubsidiaries;thedirectorsMr.JiShuhaiandMr.WuHangandtheindependentdirectorsMr.HuangYuegangandMs.HuaXiupingleftofficeduetotheexpirationoftheirtermofoffice,andtheynolongerheldotherpositionsintheCompanyanditssubsidiariesaftertheirresignation.Changesindirectors,supervisorsandseniorexecutives?Applicable□Notapplicable
Name | Position | Type | Date | Reason |
JiShuhai | Director | Resignedupontheexpirationofthetermofoffice | 2023/09/26/ | Resignedupontheexpirationofthetermofoffice |
WuHang | Director | Resignedupontheexpirationofthetermofoffice | 2023/09/26/ | Resignedupontheexpirationofthetermofoffice |
HuangYuegang | Independentdirector | Resignedupontheexpirationofthetermofoffice | 2023/09/26/ | Resignedupontheexpirationofthetermofoffice |
HuaXiuping | Independentdirector | Resignedupontheexpirationofthetermofoffice | 2023/09/26/ | Resignedupontheexpirationofthetermofoffice |
XiangWei | ChiefFinancialDirector | Outgoing | 2023/05/30/ | Resignedduetopersonalreasons |
LuoMuchen | ChiefFinancialDirector | Appointment | 2023/05/30/ | Newlyappointed |
WuYongqiang | ChairmanandPresident | Elected | 2023/09/26/ | Generalelection |
PengGanquan | Director | Elected | 2023/09/26/ | Generalelection |
ZhengSibin | Directoronbehalfofworkersandstaff,VicePresident | Elected | 2023/09/26/ | Generalelection |
MaWei | Directoronbehalfofworkersandstaff,VicePresident | Elected | 2023/09/26/ | Generalelection |
LiXumeng | Independentdirector | Elected | 2023/09/26/ | Generalelection |
ChenZhengxu | Independentdirector | Elected | 2023/09/26/ | Generalelection |
QinWei | Independentdirector | Elected | 2023/09/26/ | Generalelection |
2.EmploymentstatusEducationalbackground,mainworkingexperienceandmajorresponsibilitiesofexistingdirectors,supervisorsandseniorexecutivesoftheCompany(I)MembersoftheBoardofDirectorsWuYongqiang,male,bornin1965,holdsamaster'sdegreeandhasnorightofpermanentresidencyabroad.HeisalocalleadingtalentrecognizedbyShenzhenCity.Hewonthehonorsof"ShenzhenYoungScienceandTechnologyLeader"awardedbyShenzhenMunicipalGovernment,"OneofTopTenOutstanding
YoungPeople"inNanshanDistrict,Shenzhen,and"ShenzhenIndustrialAward".HesuccessivelyservedasalecturerofHarbinInstituteofTechnologyandviceChairmanoftheCompany.NowheservesasChairmanoftheBoardofDirectorsoftheCompany,ChairmanoftheBoardofDirectorsofShenzhenTopbandSoftwareTechnologyCo.,Ltd.,executivedirectorofShenzhenTopbandBatteryCo.,Ltd.,executivedirectorofShenzhenHongruInvestmentManagementCo.,Ltd.,apartnerofShenzhenHongruInvestmentEnterprise(LimitedPartnership),executivedirectorandPresidentofShenzhenYankaiElectricTechnologyCo.,Ltd.,executivedirectorandPresidentofNingboTopbandIntelligentControlCo.,Ltd.,executivedirectorofShenzhenTopbandAutomationTechnologyCo.,Ltd.,ChairmanoftheBoardofDirectorsofShenzhenYAKOAutomationTechnologyCo.,Ltd.,andadirectorofTopband(HongKong)Co.,Ltd.
ZhengSibin,male,bornin1966,holdsamaster'sdegreeandisanaccountantwithoutpermanentresidencyabroad.HeservedasofficedirectorandvicefactorydirectorofZhejiangSongyangBrewery,andfinancesupervisor,managerofFinanceDepartmentandChiefFinancialDirectorofNamTaiElectronics(Shenzhen)Co.,Ltd.Heisnowadirector,VicePresidentandPresidentofbusinessunitsoftheCompany,asupervisorofShenzhenTopbandSoftwareTechnologyCo.,Ltd.,andasupervisorofChongqingTopbandIndustrialCo.,Ltd.
MaWei,male,bornin1974,holdsabachelor'sdegreewithoutpermanentresidencyabroad.HeservedasatechnicaldevelopmentengineerandPresidentofShenzhenHuafaElectronicsCo.,Ltd.Heisnowadirector,VicePresidentandPresidentofbusinessunitsoftheCompany.
PengGanquan,male,bornin1972,holdsamaster'sdegreewithoutpermanentresidencyabroad.Heservedasanengineer,developmentengineeroftheelectricalbusinessunit,technicaldirectorandVicePresidentofHunanInstrumentandMeterFactory.HeisnowadirectorandPresidentofbusinessunitsoftheCompany,PresidentandexecutivedirectorofShenzhenAlliedControlSystemCo.,Ltd.,PresidentofShenzhenTopbandAutomotiveElectronicsCo.,Ltd.,andadirectorofTOPBANDINDIAPRIVATELIMITED.
LiXumeng,male,bornin1966,Chinese,holdsadoctor'sdegreeinbusinessmanagementwithoutpermanentresidencyabroad.HeservedasaconsultantofBeijingShanghengZhibenConsultingCo.,Ltd.andaconsultantofShanghaiDanfuBusinessConsultingCenter.HeisnowaresearcherofZhuoyuehuiInnovationandDevelopment(Shenzhen)Co.,Ltd.,apartnerofBeijingDanfuInvestmentManagementCenter(GeneralPartnership),andanindependentdirectoroftheCompany.
ChenZhengxu,male,bornin1968,Chinese,isaPhDstudentwithoutpermanentresidencyabroad.HeservedasmanagingdirectoroftheinvestmentbankingdepartmentofQiluSecuritiesandHongyuanSecurities,anoff-campussupervisorofmaster'sdegreeprogramsofSchoolofEconomics,ShenzhenUniversityandDepartmentofFinance,ShanghaiNormalUniversity,anindependentdirectorofShenzhenKingdomTechnologyCo.,Ltd.,andanindependentdirectorofShenzhenBTRNewEnergyandMaterialsCo.,Ltd.NowheisexecutivedirectorandPresidentofShenzhenDingfengMingdaoAssetManagementCo.,Ltd.,adirectorofBeijingSmartlinkMicrochipCo.,Ltd.,executivedirectorandPresidentofShenzhenPumaoCultureandArtCo.,Ltd.,executivepartnerofShenzhenDaoxiangInvestmentPartnership(LimitedPartnership),managerofShenzhenMingxinVentureCapitalInvestmentPartnership(LimitedPartnership),managerofShenzhenMing'aoSensingTechnologyVentureCapitalInvestmentPartnership(LimitedPartnership),PresidentofShenzhenMingdaoDandelionVentureCapitalInvestmentPartnership(LimitedPartnership),headofShenzhenDaoxinVentureCapitalInvestmentPartnership(LimitedPartnership),andanindependentdirectoroftheCompany.
QinWei,male,bornin1979,Chinese,holdsabachelor'sdegreeinengineeringandamaster'sdegreeineconomicswithoutpermanentresidencyabroad.Mr.QinWeiisanon-practicingmemberoftheChineseInstituteofCertifiedPublicAccountants.HeservedasaseniorcreditanalystofShenzhenChinaChengxinCreditManagementCo.,Ltd.,abusinessdirectorofHuataiUnitedSecuritiesCo.,Ltd.,managingdirectorofTopsperitySecuritiesCo.,Ltd.,andmanagingdirectorofYingdaSecuritiesCo.,Ltd.NowheisadirectorofShenzhenTaotaoTechnologyCo.,Ltd.,adirectorofShenzhenPalletSharingTechnologyCo.,Ltd.,adirectorofAcecamelTechnology(Shenzhen)Co.,Ltd.,adirectorofShenzhenQicaiXiangyunInformationTechnologyCo.,Ltd.,adirectorofShenzhenHishamTechnologyCo.,Ltd.,adirectorofYacovia(Guangdong)OpticalTechnologyCo.,Ltd.,adirectorofShenzhenHainavSensorTechnologyCo.,Ltd.,executivedirectorandPresidentofShenzhenTaiyaDingfuInvestmentConsultingCo.,Ltd.,afoundingpartnerofXiamenTaiyaDingfuInvestmentManagementCo.,Ltd.,apartnerofXiamenTaiyaInnovationEquityInvestmentPartnership(LimitedPartnership),anindependentdirectorofShenzhenFendaTechnologyCo.,Ltd.,andanindependentdirectoroftheCompany.
(II)MembersoftheBoardofSupervisors
DaiHuijuan,female,bornin1976,holdsabachelor'sdegreewithoutpermanentresidencyabroad.ShesuccessivelyservedassupervisorandmanageroftheCompany'shumanresourcesdepartment.Nowsheserves
aschairwomanoftheBoardofSupervisorsanddirectorofthehumanresourcescenteroftheCompany,adirectorandPresidentofHuizhouTopbandElectricalTechnologyCo.,Ltd.,andapartnerofShenzhenHongruInvestmentEnterprise(LimitedPartnership).
ChenJinzhou,male,bornin1978,apermanentresidentofHongKong,China,holdsadoctor'sdegreefromtheChineseUniversityofHongKong.HeusedtobeanelectronicengineeratHongKongProductivityCouncil,aseniorresearcheratBeijingNoitomTechnologyLtd.,andaseniorchiefengineeratJohnsonElectric.NowheservesasVicePresidentofthemicroelectronicsbusinessunitandsupervisoroftheCompany.
KangWeiquan,male,bornin1984,holdsabachelor'sdegreewithoutpermanentresidencyabroad.HeusedtobeacostaccountantatShenzhenEVAPrecisionIndustryHoldingsLimited.NowheservesasacostaccountantandsupervisoronbehalfofworkersandstaffoftheCompany.
(III)Seniorexecutives
WuYongqiang,thePresident,isdetailedintheresumeofmembersoftheBoardofDirectors.
ZhengSibin,theVicePresident,isdetailedintheresumeofmembersoftheBoardofDirectors.
MaWei,theVicePresident,isdetailedintheresumeofmembersoftheBoardofDirectors.
WenZhaohui,female,bornin1974,holdsabachelor'sdegreeandisanaccountantwithoutpermanentresidencyabroad.SheusedtobetheheadofFinanceDepartment,managerofFinanceDepartmentandChiefFinancialDirectorofShenzhenTopbandCo.,Ltd.,adirectorofShenzhenDynanonicCo.,Ltd.,andadirectorofShenzhenZhongzhiyingkeElectricalTechnologyCo.,Ltd.SheisnowtheVicePresidentandSecretaryoftheBoardofDirectorsoftheCompany.Ms.WenZhaohuiwashonoredas"NewFortuneGoldenSecretary"forfiveconsecutiveyears.Shewonthetitlesof"ExcellentSecretary"awardedbyShenzhenSecuritiesRegulatoryBureauand"SecuritiesTimesTop100BoardSecretaries"in2015,2016and2017,andwasselectedinto"NewFortuneHallofFameofGoldenSecretariesin2019".
LuoMuchen,male,bornin1983,holdsabachelor'sdegreeandisanaccountantwithoutpermanentresidencyabroad.HeservedasanauditprojectmanagerofShenzhenBranchofRuihuaCertifiedPublicAccountants,andthereportsupervisorandfinancialmanagerofShenzhenTopbandCo.,Ltd.NowheisthedirectoroftheCompany'sfinancecenter.
Employmentinshareholderentity
□Applicable?NotapplicableEmploymentinotherentities?Applicable□Notapplicable
Incumbent'sname | Nameofanotherentity | Positiontakeninanotherentity | Startingdateoftermofoffice | Endingdateoftermofoffice | Receiveremunerationandallowancesfromanotherentity? |
WuYongqiang | ShenzhenTopbandSoftwareTechnologyCo.,Ltd. | Executivedirector | 2014/09/18/ | No | |
WuYongqiang | ShenzhenTopbandBatteryCo.,Ltd. | ExecutivedirectorandPresident | 2009/04/29/ | No | |
WuYongqiang | ShenzhenHongruInvestmentManagementCo.,Ltd. | Executive(managing)director | 2015/08/20/ | No | |
WuYongqiang | ShenzhenHongruInvestmentEnterprise(LimitedPartnership) | Partner | 2015/09/02/ | No | |
WuYongqiang | ShenzhenYAKOAutomationTechnologyCo.,Ltd. | Chairman | 2022/12/24/ | No | |
WuYongqiang | ShenzhenTopbandAutomationTechnologyCo.,Ltd. | Executivedirector | 2016/11/24/ | No | |
WuYongqiang | ShenzhenYankaiElectricTechnologyCo.,Ltd. | ExecutivedirectorandPresident | 2019/05/05/ | No | |
WuYongqiang | Topband(Qingdao)IntelligentControlCo.,Ltd. | Executivedirectorandmanager | 2021/03/29/ | No | |
WuYongqiang | NingboTopbandIntelligentControlCo.,Ltd. | ExecutivedirectorandPresident | 2017/08/28/ | No | |
PengGanquan | ShenzhenAlliedControlSystemCo.,Ltd. | ExecutivedirectorandPresident | 2016/12/20/ | No | |
PengGanquan | ShenzhenTopbandAutomotiveElectronicsCo.,Ltd. | President | 2021/09/07/ | No | |
PengGanquan | TOPBANDINDIAPRIVATELIMITED | Director | 2015/12/11/ | No | |
ZhengSibin | ShenzhenTopbandSoftwareTechnologyCo.,Ltd. | Supervisor | 2004/02/26/ | No | |
ZhengSibin | ChongqingTopbandIndustrialCo.,Ltd. | Supervisor | 2008/03/12/ | No | |
LiXumeng | ZhuoyuehuiInnovationandDevelopment(Shenzhen)Co.,Ltd. | Researcher | 2018/06/01/ | Yes | |
LiXumeng | BeijingDanfuInvestmentManagementCenter(GeneralPartnership) | Partner | 2015/06/08/ | No | |
ChenZhengxu | ShenzhenDingfengMingdaoAssetManagementCo.,Ltd. | ExecutivedirectorandPresident | 2014/08/25/ | Yes | |
ChenZhengxu | BeijingSmartlinkMicrochipCo.,Ltd. | Director | 2017/12/21/ | No | |
ChenZhengxu | ShenzhenPumaoCultureandArtCo.,Ltd. | ExecutivedirectorandPresident | 2019/06/13/ | No | |
ChenZhengxu | ShenzhenDaoxiangInvestmentPartnership(LimitedPartnership) | Executivepartner | 2019/06/14/ | No | |
ChenZhengxu | ShenzhenMingxinVentureCapitalInvestmentPartnership(LimitedPartnership) | Manager | 2021/12/20/ | No | |
ChenZhengxu | ShenzhenMing'aoSensingTechnologyVentureCapitalInvestmentPartnership(LimitedPartnership) | Manager | 2023/04/07/ | No |
ChenZhengxu | ShenzhenMingdaoDandelionVentureCapitalInvestmentPartnership(LimitedPartnership) | President | 2023/02/28/ | No | |
ChenZhengxu | ShenzhenDaoxinVentureCapitalInvestmentPartnership(LimitedPartnership) | Head | 2022/06/17/ | No | |
QinWei | ShenzhenTaotaoTechnologyCo.,Ltd. | Director | 2021/03/29/ | No | |
QinWei | ShenzhenPalletSharingTechnologyCo.,Ltd. | Director | 2021/01/19/ | No | |
QinWei | AcecamelTechnology(Shenzhen)Co.,Ltd. | Director | 2021/05/12/ | No | |
QinWei | ShenzhenQicaiXiangyunInformationTechnologyCo.,Ltd. | Director | 2021/10/28/ | No | |
QinWei | ShenzhenHishamTechnologyCo.,Ltd. | Director | 2023/08/03/ | No | |
QinWei | Yacovia(Guangdong)OpticalTechnologyCo.,Ltd. | Director | 2020/08/10/ | No | |
QinWei | ShenzhenHainavSensorTechnologyCo.,Ltd. | Director | 2020/12/23/ | No | |
QinWei | ShenzhenTaiyaDingfuInvestmentConsultingCo.,Ltd. | ExecutivedirectorandPresident | 2022/10/26/ | No | |
QinWei | XiamenTaiyaDingfuInvestmentManagementCo.,Ltd. | Foundingpartner | 2016/05/16/ | Yes | |
QinWei | XiamenTaiyaInnovationEquityInvestmentPartnership(LimitedPartnership) | Partner | 2019/12/18/ | No | |
QinWei | ShenzhenFendaTechnologyCo.,Ltd. | Independentdirector | 2022/08/22/ | Yes | |
DaiHuijuan | HuizhouTopbandElectricalTechnologyCo.,Ltd. | ExecutivedirectorandPresident | 2011/11/14/ | No | |
DaiHuijuan | ShenzhenTopbandAutomotiveElectronicsCo.,Ltd. | Supervisor | 2021/09/07/ | No | |
Explanationofemploymentinotherentities | None |
PunishmentimposedbysecuritiesregulatorsinthepastthreeyearsontheCompany'sdirectors,supervisorsandseniorexecutivescurrentlyinofficeandleftofficeduringtheReportingPeriod
□Applicable?Notapplicable
3.Remunerationfordirectors,supervisorsandseniorexecutivesDecision-makingprocedure,confirmationbasisandactualpaymentofremunerationfordirectors,supervisorsandseniorexecutives
1.Decision-makingprocedureandconfirmationbasisofremuneration:TheremunerationoftheCompany'sdirectors,supervisorsandseniorexecutivesshallbepaidaccordingtotheRemunerationManagementSystemforDirectors,SupervisorsandSeniorExecutivesdeliberatedandpassedbytheGeneralMeetingofShareholders.TheSalaryandAssessmentCommitteeshallformulatearemunerationplanfordirectorsandsubmitittotheBoardofDirectorsforreviewandapprovalbytheGeneralMeetingofShareholders.
2.TheRemunerationManagementSystemforDirectors,SupervisorsandSeniorExecutivesrevisedatthe2ndExtraordinaryGeneralMeetingofShareholdersfor2023heldonSeptember26,2023andtheProposalonReviewingAllowancesforIndependentDirectorsdeliberatedatthe2ndExtraordinaryGeneralMeetingofShareholdersfor2023stipulatethat,theallowanceforindependentdirectorsoftheCompanyisRMB84,000(beforetax)peryear,whichwillbepaidaccordingtotheirdurationofserviceandrelevantregulations.TheCompanyshallberesponsibleforthetravelexpensesoftheindependentdirectorswhoattendtheBoardofDirectorsandtheGeneralMeetingofShareholdersandtheexpensesrequiredfortheexerciseoftheirfunctionsandpowersaccordingtotheArticlesofAssociationoftheCompany
Remunerationfordirectors,supervisorsandseniorexecutivesintheReportingPeriod
Unit:RMBtenthousand
Name | Gender | Age | Position | Positionstatus | Totalpre-taxremunerationreceivedfromtheCompany | ReceivedremunerationfromrelatedpartiesoftheCompany |
WuYongqiang | Male | 59 | ChairmanandPresident | Incumbent | 165.62 | No |
JiShuhai | Male | 62 | Director | Outgoing | 6.3 | No |
ZhengSibin | Male | 58 | DirectorandVicePresident | Incumbent | 285.45 | No |
MaWei | Male | 50 | DirectorandVicePresident | Incumbent | 267.63 | No |
PengGanquan | Male | 52 | Director | Incumbent | 243.76 | No |
WuHang | Male | 40 | Director | Outgoing | 6.3 | No |
HuangYuegang | Male | 66 | Independentdirector | Outgoing | 6.3 | No |
HuaXiuping | Female | 46 | Independentdirector | Outgoing | 6.3 | No |
LiXumeng | Male | 58 | Independentdirector | Incumbent | 8.4 | No |
WenZhaohui | Female | 50 | VicePresidentandSecretaryoftheBoardofDirectors | Incumbent | 92.31 | No |
XiangWei | Male | 47 | ChiefFinancialDirector | Outgoing | 41.43 | No |
DaiHuijuan | Female | 48 | Supervisor | Incumbent | 96.12 | No |
KangWeiquan | Male | 40 | Supervisor | Incumbent | 43.98 | No |
ChenJinzhou | Male | 46 | Supervisor | Incumbent | 93.83 | No |
LuoMuchen | Male | 41 | ChiefFinancialDirector | Incumbent | 58.43 | No |
ChenZhengxu | Male | 56 | Independentdirector | Incumbent | 2.1 | No |
QinWei | Male | 45 | Independentdirector | Incumbent | 2.1 | No |
Total | -- | -- | -- | -- | 1,426.36 | -- |
Explanationofothersituations
□Applicable?Notapplicable
VI.Directors'performanceofdutiesduringtheReportingPeriod
1.InformationontheBoardofDirectorsduringtheReportingPeriod
Meetingsession | Meetingdate | Dateofdisclosure | Meetingresolution |
The31stMeetingofthe7thBoardofDirectors | 2023/01/12/ | 2023/01/14/ | 1.DeliberatedandpassedtheProposalonCarryingoutForwardForeignExchangeTradingBusiness;2.DeliberatedandpassedtheProposalonSigningaProcurementFrameworkAgreementwithShenzhenJizhiguangElectronicsCo.,Ltd. |
The32ndMeetingofthe7thBoardofDirectors | 2023/03/29/ | 2023/03/31/ | 1.DeliberatedandpassedtheProposalonAnnualReport2022andItsAbstract;2.DeliberatedandpassedtheProposalon2022WorkReportoftheBoardofDirectors;3.DeliberatedandpassedtheProposalon2022WorkReportofthePresident;4.DeliberatedandpassedtheProposalon2022FinalFinancialReport;5.DeliberatedandpassedtheProposalon2022ProfitDistributionPlan;6.DeliberatedandpassedtheProposalonFormulatingtheShareholders'DividendPlanfortheNextThreeYears(2023-2025)ofShenzhenTopbandCo.Ltd.;7.DeliberatedandpassedtheProposalon2022InternalControlEvaluationReport;8.DeliberatedandpassedtheProposalonRemunerationofCompanyDirectorsin2022;9.DeliberatedandpassedtheProposalontheRemunerationofSeniorExecutivesoftheCompanyin2022;10.DeliberatedandpassedtheProposalontheSpecialReportontheDepositandUseofRaisedFundsin2022;11.DeliberatedandpassedtheProposalonFulfillmentofRestrictedShareReleaseConditionsfor2021RestrictedStockIncentivePlanaftertheFirstRestrictedStockTradePeriod;12.DeliberatedandpassedtheProposalonRepurchaseandCancellationofSomeRestrictedStocksfromRestrictedStockIncentivePlanin2021;13.DeliberatedandpassedtheProposalonCashManagementwithSomeIdleRaisedCapitalsandSelf-ownFunds;14.DeliberatedandpassedtheProposalonApplicationforComprehensiveCreditLinefromBanksbytheCompanyandItsSubsidiariesin2023;15.DeliberatedandpassedtheProposalonRenewingtheEmploymentofAuditInstitutionin2023.16.DeliberatedandpassedtheProposalonthe2022ESGandSocialResponsibilityReport;17.DeliberatedandpassedtheProposalonProvisionforAssetImpairmentin2022;18.DeliberatedandpassedtheProposalonAccountingPolicyChanges;19.DeliberatedandpassedtheProposalonConveningthe2022AnnualGeneralMeetingofShareholders. |
The33rdMeetingofthe7thBoardofDirectors | 2023/04/25/ | 2023/04/26/ | 1.DeliberatedandpassedtheProposalontheFirstQuarterReportin2023;2.DeliberatedandpassedtheProposalonAdjustingtheRepurchasePriceinthe2021RestrictedStockIncentivePlan. |
The34th(Extraordinary)Meetingofthe7thBoardofDirectors | 2023/05/30/ | 2023/05/31/ | 1.DeliberatedandpassedtheProposalontheAppointmentoftheCompany'sChiefFinancialOfficer. |
The35th(Extraordinary)Meetingofthe7thBoardofDirectors | 2023/06/04/ | 2023/06/05/ | 1.DeliberatedandpassedtheProposalonIncreasingtheCompany'sBusinessScopeandAmendingtheArticlesofAssociations;2.DeliberatedandpassedtheProposalonConveningthe1stExtraordinaryGeneralMeetingofShareholdersin2023. |
The36thMeetingofthe7thBoardofDirectors | 2023/08/15/ | 2023/08/17/ | 1.DeliberatedandpassedtheProposalonSemi-annualReport2023andItsAbstract;2.DeliberatedandpassedtheProposalontheSpecialReportontheDepositandUseofRaisedFundsintheHalfYearof2023; |
The37thMeetingofthe7thBoardofDirectors | 2023/09/07/ | 2023/09/09/ | 1.DeliberatedandpassedtheProposalontheGeneralElectionofNon-independentDirectorsfortheBoardofDirectors;2.DeliberatedandpassedtheProposalontheGeneralElectionofIndependentDirectorsfortheBoardofDirectors;3.DeliberatedandpassedtheProposalonChangingtheUseofPartoftheRaisedFundsandPermanentlySupplementingWorkingCapital;4.DeliberatedandpassedtheProposalonRepurchaseandCancellationofSomeRestrictedStocksfromRestrictedStockIncentivePlanin2021;5.DeliberatedandpassedtheProposalonAmendingtheArticlesofAssociation;6.DeliberatedandpassedtheProposalonAmendingtheRulesofProcedurefortheGeneralMeetingofShareholders;7.DeliberatedandpassedtheProposalonAmendingtheRulesofProcedurefortheBoardofDirectors;8.DeliberatedandpassedtheProposalonAmendingtheRulesofProcedurefortheAuditCommitteeoftheBoardofDirectors;9.DeliberatedandpassedtheProposalonAmendingtheRulesofProcedurefortheNominationCommitteeoftheBoardofDirectors;10.DeliberatedandpassedtheProposalonAmendingtheRulesofProcedurefortheSalaryandAssessmentCommitteeoftheBoardofDirectors;11.DeliberatedandpassedtheProposalonAmendingtheRulesofProcedurefortheStrategyCommitteeoftheBoardofDirectors;12.DeliberatedandpassedtheProposalonAmendingtheRemunerationManagementSystemforDirectors,SupervisorsandSeniorExecutives;13.DeliberatedandpassedtheProposalonAmendingtheManagementMeasuresontheSharesoftheCompanyHeldbyDirectors,SupervisorsandSeniorExecutivesandtheChangesofTheseShares;14.DeliberatedandpassedtheProposalonFormulatingtheWorkingSystemoftheSecretaryoftheBoardofDirectors;15.DeliberatedandpassedtheProposalonAmendingthePresident'sWorkRules;16.DeliberatedandpassedtheProposalonFormulatingtheWorkingSystemforIndependentDirectors;17.DeliberatedandpassedtheProposalonAmendingtheFinancialManagementSystem;18.DeliberatedandpassedtheProposalonAmendingtheInternalAuditSystem;19.DeliberatedandpassedtheProposalonFormulatingtheManagementSystemforProvidingFinancialAssistancetoExternalParties;20.DeliberatedandpassedtheProposalonAmendingtheOverseasInvestmentManagementSystem;21.DeliberatedandpassedtheProposalonAmendingtheWorkingSystemoftheInformationDisclosureCommittee;22.DeliberatedandpassedtheProposalonAmendingtheManagementMeasuresofRaisedFunds;23.DeliberatedandpassedtheProposalonAmendingthePublicInformationDisclosureManagementSystem;24.DeliberatedandpassedtheProposalonFormulatingtheManagementSystemofForeignExchangeDerivativesTrading;25.DeliberatedandpassedtheProposalonFormulatingtheEntrustedFinancialManagementSystem;26.DeliberatedandpassedtheProposalonAmendingtheAccountabilitySystemforMajorErrorsinInformationDisclosureinAnnualReports;27.DeliberatedandpassedtheProposalonAmendingtheExternalGuaranteeManagementSystem;28.DeliberatedandpassedtheProposalonAmendingtheRelated-partyTransactionManagementSystem;29.DeliberatedandpassedtheProposalonReviewingIndependentDirectors' |
Allowances;30.DeliberatedandpassedtheProposalonConveningthe2ndExtraordinaryGeneralMeetingofShareholdersin2023. | |||
The1stMeetingofthe8thBoardofDirectors | 2023/09/26/ | 2023/09/27/ | 1.DeliberatedandpassedtheProposalontheElectionoftheChairmanofthe8thBoardofDirectorsoftheCompany;2.DeliberatedandpassedtheProposalontheElectionofMembersoftheSpecialCommitteeofthe8thBoardofDirectors;3.DeliberatedandpassedtheProposalontheAppointmentoftheCompany'sPresident;4.DeliberatedandpassedtheProposalontheAppointmentoftheCompany'sVicePresident;5.DeliberatedandpassedtheProposalontheAppointmentoftheCompany'sFinancialLeader(ChiefFinancialOfficer);6.DeliberatedandpassedtheProposalontheAppointmentoftheCompany'sSecretaryoftheBoardofDirectors;7.DeliberatedandpassedtheProposalontheAppointmentoftheCompany'sSecuritiesAffairsRepresentative;8.DeliberatedandpassedtheProposalontheAppointmentoftheHeadoftheCompany'sAuditDepartment;9.DeliberatedandpassedtheProposalonAuthorizingtheChairmantoApprovetheOverseasInvestmentsoftheCompanyandItsWholly-ownedandHoldingSubsidiaries. |
The2ndMeetingofthe8thBoardofDirectors | 2023/10/25/ | 1.DeliberatedandpassedtheProposalontheThirdQuarterReportin2023andAbstract; | |
The3rd(Extraordinary)Meetingofthe8thBoardofDirectors | 2023/10/27/ | 2023/10/30/ | 1.DeliberatedandpassedtheProposalontheRepurchaseoftheCompany'sShares; |
The4th(Extraordinary)Meetingofthe8thBoardofDirectors | 2023/12/01/ | 2023/12/02/ | 1.DeliberatedandpassedtheProposalonTerminatingtheImplementationoftheRestrictedStockIncentivePlanfor2021andRepurchasingandCancellingRestrictedStocks;2.DeliberatedandpassedtheProposalonTemporarilyReplenishingWorkingCapitalwithSomeIdleRaisedCapitals;3.DeliberatedandpassedtheProposalonFormulatingtheWorkingSystemforSpecialMeetingsofIndependentDirectors;4.DeliberatedandpassedtheProposalonConveningthe3rdExtraordinaryGeneralMeetingofShareholdersin2023. |
2.Directors'attendanceatboardmeetingsandgeneralmeetingsofshareholders
Directors'attendanceatboardmeetingsandgeneralmeetingsofshareholders | |||||||
Nameofdirectors | NumberofboardmeetingsduringtheReportingPeriod | Numberofon-siteboardmeetingsattended | Numberofboardmeetingsattendedbycorrespondence | Numberofboardmeetingsattendedbyanauthorizedperson | Numberofabsencesfromboardmeetings | Whetheryouhavefailedtoattendtheboardmeetingsinpersonfortwoconsecutivetimes | Numberofthegeneralmeetingsofshareholdersattended |
WuYongqiang | 11 | 10 | 1 | 0 | 0 | No | 4 |
JiShuhai | 7 | 5 | 2 | 0 | 0 | No | 3 |
MaWei | 11 | 11 | 0 | 0 | 0 | No | 4 |
PengGanquan | 11 | 11 | 0 | 0 | 0 | No | 4 |
ZhengSibin | 11 | 10 | 1 | 0 | 0 | No | 4 |
WuHang | 7 | 6 | 1 | 0 | 0 | No | 3 |
HuangYuegang | 7 | 2 | 5 | 0 | 0 | No | 3 |
HuaXiuping | 7 | 2 | 5 | 0 | 0 | No | 3 |
LiXumeng | 11 | 6 | 5 | 0 | 0 | No | 4 |
ChenZhengxu | 4 | 1 | 3 | 0 | 0 | No | 1 |
QinWei | 4 | 1 | 3 | 0 | 0 | No | 1 |
Explanationforfailuretoattendtheboardmeetingsinpersonfortwoconsecutivetimes
Notapplicable
3.ObjectionsraisedbyDirectorstothemattersrelatedtotheCompanyWhetherDirectorsraiseobjectionstomattersrelatedtotheCompany
□Yes?NoDuringtheReportingPeriod,theDirectorsraisednoobjectionstorelevantmattersoftheCompany.
4.Otherdescriptionsondirectors'performanceofdutiesWhetherthedirectors'proposalstotheCompanyhavebeenadopted?Yes□NoDirector'sexplanationontheadoptionorrejectionoftheCompany'sproposalsDuringtheReportingPeriod,alldirectorsoftheCompanyperformedtheirdutiesdiligentlyandstrictlyfollowedtherelevantregulationsoftheCSRCandtheShenzhenStockExchangeaswellastheArticlesofAssociation,RulesofProcedurefortheBoardofDirectorsandotherregulationstocarryouttheirwork.TheypaidcloseattentiontothestandardizedoperationandmanagementoftheCompany.BasedontheactualsituationoftheCompany,theyputforwardprofessionalandconstructiveopinionsontheCompany'smajordecisions.Aftersufficientcommunicationanddiscussion,resolutionswereformedtoensurethatdecisionswerescientific,timelyandefficient,soastosafeguardthelegitimaterightsandinterestsoftheCompanyanditsallshareholders.
VII.StatusofspecialcommitteesundertheBoardofDirectorsduringtheReportingPeriod
Nameofthecommittee | Members | Numberofmeetingsheld | Meetingdate | Meetingcontent | Importantopinionsandsuggestionsputforward | Otherperformanceofduties | Detailsofobjections(ifany) |
The7thAuditCommittee | HuangYuegang,LiXumeng,HuaXiuping | 4 | 2023/01/31/ | 1.DeliberatedtheProposalonthePreliminaryReviewOpinionon2022AnnualFinancialStatementsoftheCompany;2.DeliberatedtheProposalontheTimeandArrangementofAnnualReport2022AuditWorkoftheCompany;3.DeliberatedtheProposalontheAuditDepartment'sWorkReportfortheFourthQuarterof2022andWorkPlanfortheFirstQuarterof2023;4.DeliberatedtheProposalonSummaryoftheAuditDepartment'sWorkin2022andWorkPlanforNextYear. | TheAuditCommitteereviewedthemattersunderconsiderationinstrictaccordancewiththeRulesofProcedurefortheAuditCommitteeoftheBoardofDirectorsandrelevantlawsandregulations,andfullycommunicatedwiththeFinanceDepartmentandtheAuditingAgency,andunanimouslyagreedtotherelevantproposals. | Notapplicable | Notapplicable |
The7thAuditCommittee | HuangYuegang,LiXumeng,HuaXiuping | 2023/03/29/ | 1.DeliberatedtheProposalonOpinionson2022FinancialAccountingReport;2.DeliberatedtheProposalon2022InternalControlEvaluationReport;3.DeliberatedtheProposalontheAuditOpinionsontheOccupationoftheCompany'sFundsandExternalGuaranteesbyControllingShareholdersandOtherRelatedParties;4.DeliberatedtheProposalonRenewingtheEmploymentofBakerTillyChinaCertifiedPublicAccountantsastheCompany'sAuditInstitutionfor2023;5.DeliberatedtheProposalonProvisionforAssetImpairmentin2022;6.DeliberatedtheProposalontheSpecialReportontheDepositandUseofRaisedFundsin2022;7.DeliberatedontheProposalonReviewingtheCompany'sUseofFundsandProfitandLossSituationinForwardForeignExchangeTransactionsin2022. | TheAuditCommitteereviewedthemattersunderconsiderationinstrictaccordancewiththeRulesofProcedurefortheAuditCommitteeoftheBoardofDirectorsandrelevantlawsandregulations,andfullycommunicatedwiththeFinanceDepartmentandtheAuditingAgency,andunanimouslyagreedtotherelevantproposals. | Notapplicable | Notapplicable | |
The7thAuditCommittee | HuangYuegang,LiXumeng,HuaXiuping | 2023/04/25/ | 1.DeliberatedtheProposalsonOpinionsontheFinancialAccountingStatementfortheFirstQuarterof2023;2.DeliberatedtheProposalontheAuditDepartment'sWorkReportfortheFirstQuarterof2023andWork | TheAuditCommitteereviewedthemattersunderconsiderationinstrictaccordancewiththeRulesofProcedurefortheAuditCommitteeoftheBoardof | Notapplicable | Notapplicable |
PlanfortheSecondQuarter;3.DeliberatedtheProposalontheOccupationoftheCompany'sFundsandExternalGuaranteesbyControllingShareholdersandOtherRelatedPartiesfortheFirstQuarterof2023;4.DeliberatedontheProposalonReviewingtheCompany'sUseofFundsandProfitandLossSituationinForwardForeignExchangeTransactionsfortheFirstQuarterof2023. | Directorsandrelevantlawsandregulations,andfullycommunicatedwiththeFinanceDepartmentandtheAuditingAgency,andunanimouslyagreedtotherelevantproposals. | ||||||
The7thAuditCommittee | HuangYuegang,LiXumeng,HuaXiuping | 2023/08/15/ | 1.DeliberatedtheProposalontheAuditDepartment'sWorkReportfortheSecondQuarterof2023andWorkPlanfortheThirdQuarter;2.DeliberatedtheProposalontheOccupationoftheCompany'sFundsandExternalGuaranteesbyControllingShareholdersandOtherRelatedPartiesfortheSecondQuarterof2023;3.DeliberatedontheProposalonReviewingtheCompany'sUseofFundsinForwardForeignExchangeTransactionsfortheSecondQuarterof2023.4.DeliberatedtheProposalonOpinionsontheCompany'sMid-yearFinancialAccountingStatementin2023; | TheAuditCommitteereviewedthemattersunderconsiderationinstrictaccordancewiththeRulesofProcedurefortheAuditCommitteeoftheBoardofDirectorsandrelevantlawsandregulations,andfullycommunicatedwiththeFinanceDepartmentandtheAuditingAgency,andunanimouslyagreedtotherelevantproposals. | Notapplicable | Notapplicable | |
The7thAuditCommittee | HuangYuegang,LiXumeng,HuaXiuping | 2023/10/25/ | 1.DeliberatedtheProposalonOpinionsontheCompany'sFinancialAccountingStatementfortheThirdQuarterof2023;2.DeliberatedtheProposalontheAuditReportontheDepositandUseoftheCompany'sRaisedFundsfortheThirdQuarterof2023.3.DeliberatedtheProposalontheOpinionsontheOccupationoftheCompany'sFundsandExternalGuaranteesbyControllingShareholdersandOtherRelatedPartiesfortheThirdQuarterof2023;4.DeliberatedontheProposalonReviewingtheCompany'sUseofFundsandProfitandLoss | TheAuditCommitteereviewedthemattersunderconsiderationinstrictaccordancewiththeRulesofProcedurefortheAuditCommitteeoftheBoardofDirectorsandrelevantlawsandregulations,andfullycommunicatedwiththeFinanceDepartmentandtheAuditingAgency,andunanimouslyagreedtotherelevantproposals. | Notapplicable | Notapplicable |
SituationinForwardForeignExchangeTransactionsfortheThirdQuarterof2023. | |||||||
The8thAuditCommittee | QinWei,LiXumeng,ChenZhengxu | 1 | 2023/10/25/ | 1.DeliberatedtheProposalonOpinionsontheCompany'sFinancialAccountingStatementfortheThirdQuarterof2023;2.DeliberatedtheProposalontheAuditReportontheDepositandUseoftheCompany'sRaisedFundsfortheThirdQuarterof2023.3.DeliberatedtheProposalontheOpinionsontheOccupationoftheCompany'sFundsandExternalGuaranteesbyControllingShareholdersandOtherRelatedPartiesfortheThirdQuarterof2023;4.DeliberatedontheProposalonReviewingtheCompany'sUseofFundsandProfitandLossSituationinForwardForeignExchangeTransactionsfortheThirdQuarterof2023. | TheAuditCommitteereviewedthemattersunderconsiderationinstrictaccordancewiththeRulesofProcedurefortheAuditCommitteeoftheBoardofDirectorsandrelevantlawsandregulations,andfullycommunicatedwiththeFinanceDepartmentandtheAuditingAgency,andunanimouslyagreedtotherelevantproposals. | Notapplicable | Notapplicable |
The7thSalaryandAssessmentCommittee | HuaXiuping,WuYongqiang,HuangYuegang | 2 | 2023/03/29/ | 1.ProposalonRemunerationofCompanyDirectorsin2022;2.ProposalontheRemunerationoftheCompany'sSeniorExecutivesin2022;3.ProposalonFulfillmentofRestrictedShareReleaseConditionsfor2021RestrictedStockIncentivePlanaftertheFirstRestrictedStockTradePeriod;4.TheProposalonRepurchaseandCancellationofSomeRestrictedStocksfromRestrictedStockIncentivePlanin2021; | TheSalaryandAssessmentCommitteeoftheBoardofDirectorsdeliberatedthemattersunderconsiderationinstrictaccordancewiththeRulesofProcedureoftheSalaryandAssessmentCommitteeoftheBoardofDirectorsandrelevantlawsandregulations,andunanimouslyagreedtotherelevantproposals. | Notapplicable | Notapplicable |
The7thSalaryandAssessmentCommittee | HuaXiuping,WuYongqiang,HuangYuegang | 2023/09/07/ | 1.ProposalonReviewingIndependentDirectors'Allowances;2.ProposalonRepurchaseandCancellationofSomeRestrictedStocksfromRestrictedStockIncentivePlanin2021; | TheSalaryandAssessmentCommitteeoftheBoardofDirectorsdeliberatedthemattersunderconsiderationinstrictaccordancewiththeRulesofProcedureoftheSalaryandAssessmentCommitteeoftheBoardofDirectors | Notapplicable | Notapplicable |
andrelevantlawsandregulations,andunanimouslyagreedtotherelevantproposals. | |||||||
The7thNominationCommittee | LiXumeng,WuYongqiang,HuangYuegang | 2 | 2023/05/30/ | 1.ProposalontheAppointmentoftheCompany'sChiefFinancialOfficer. | TheSalaryandAssessmentCommitteeoftheBoardofDirectorsdeliberatedthemattersunderconsiderationinstrictaccordancewiththeRulesofProcedureoftheNominationCommitteeoftheBoardofDirectorsandrelevantlawsandregulations,andunanimouslyagreedtotherelevantproposals. | Notapplicable | Notapplicable |
The7thNominationCommittee | LiXumeng,WuYongqiang,HuangYuegang | 2023/09/07/ | 1.ProposalontheGeneralElectionoftheBoardOfDirectors. | TheSalaryandAssessmentCommitteeoftheBoardofDirectorsdeliberatedthemattersunderconsiderationinstrictaccordancewiththeRulesofProcedureoftheNominationCommitteeoftheBoardofDirectorsandrelevantlawsandregulations,andunanimouslyagreedtotherelevantproposals. | Notapplicable | Notapplicable | |
The7thStrategyCommittee | WuYongqiangZhengSibinPengGanquanMaWeiLiXumeng | 1 | 2023/09/07/ | 1.NoticeonChangingtheUseofPartoftheRaisedFundsandPermanentlySupplementingWorkingCapital; | TheStrategyCommitteeoftheBoardofDirectorsdeliberatedthemattersunderconsiderationinstrictaccordancewiththeRulesofProcedureoftheNominationCommitteeoftheBoardofDirectorsandrelevantlawsandregulations,andunanimouslyagreedtotherelevantproposals. | Notapplicable | Notapplicable |
VIII.WorkoftheBoardofSupervisors
WhethertheBoardofSupervisorsfoundanyrisksintheCompanyduringitssupervisoryactivitiesduringtheReportingPeriod
□Yes?NoTheBoardofSupervisorshadnoobjectiontothesupervisorymattersduringtheReportingPeriod.
IX.InformationontheCompany'semployees
1.Numberofemployees,specialtycompositionandeducationlevel
NumberofemployeesoftheparentcompanyattheendoftheReportingPeriod(person) | 2,373 |
NumberofemployeesinmajorsubsidiariesattheendoftheReportingPeriod(person) | 6,950 |
TotalnumberofemployeesattheendoftheReportingPeriod(person) | 9,323 |
Totalnumberofsalariedemployeesinthecurrentperiod(person) | 9,323 |
Numberofretiredemployeeswhoseexpensesneedtobebornebytheparentcompanyandmajorsubsidiaries(person) | 7 |
Specialtycomposition | |
Specialtycompositioncategory | Numberofspecialtycomposition(person) |
Productionpersonnel | 5,224 |
Salesperson | 629 |
Technician | 2,004 |
Financialstaff | 111 |
Administrativepersonnel | 655 |
Logisticspersonnel | 700 |
Total | 9,323 |
Educationlevel | |
Educationlevelcategory | Number(person) |
Bachelororabove | 3,215 |
Juniorcollegelevel | 1,482 |
Belowjuniorcollegelevel | 4,626 |
Total | 9,323 |
2.Remunerationpolicy
TheCompanyformulatessalarymanagementregulationsinaccordancewithrelevantnationallaborregulationsandpoliciesanditsactualsituation,andassessesandpayssalariesinaccordancewiththesalarymanagementregulations.TheCompanystrictlycomplieswiththeLaborLawandrelevantnationalandlocallaborlawsandregulations,signslaborcontractswithemployees,andpaysvariousemployeeinsuranceaccordingtoregulations.TheCompany'soverallremunerationconsistsofthefollowingthreeparts:fixedsalary,performance-basedsalaryandwelfareallowances.Fixedsalaryincludesbasicsalary,positionsalaryandconfidentialitysalary;performance-basedsalaryincludesperformancebonus,year-endbonusandspecialbonus;andwelfareincludesmandatedbenefits,companybenefitsandallowances.
3.TrainingplanTheCompanygivesaprioritytothetrainingprograms,andhasestablishedatalenttrainingsystemcombiningprofessionalcompetenceandleadership,includingroutinetraining,professionalmoduletrainingandmanagementcadretraining.Differenttrainingcoursesareformulatedinstagesfornewemployees,personnelinprofessionalpositionssuchasR&D,procurement,andsales,andmiddleandseniormanagers.Anannualtrainingplanisimplementedintheareasofcorporateculture,professionalskills,managementimprovement,professionalethics,andmentalhealth.Throughthecombinationofinternalandexternaltraining,excellenthumanresourcessupportisprovidedforthesustainabledevelopmentoftheCompany.
DuringtheReportingPeriod,inordertohelpnewemployeesbetteradapttothenewworkenvironmentandpositions,becomefamiliarwiththeCompany'srelevantsystems,andintegrateintothecorporateculture,theCompany'sHumanResourcesCenterpreparedcoursesandimplementedanannualtrainingplanintheareasofcorporateculture,professionalskills,managementimprovement,professionalethics,andmentalhealth.Integratinginternalandexternaltrainingintotheofficeenvironment.Inthe"NewEmployeeTraining"section,thetrainingcontentcoverscompanyprofile,benefits,corporateculture,informationsystems,financeandintellectualproperty,legalbasicsandcommercialconfidentialityknowledge,ISCcoreideasandconcepts,andoccupationalmentalhealth,coveringallthenewemployees.Atthesametime,foremployeesontheproductionline,theCompanycontinuestoprovideon-sitetraining,andprovidesspecialtraininginthetermsoftakingupposts,on-dutyissues,jobtransfers,andspecialskillpositions,soastoimprovetheprofessionalcapabilitiesoffront-lineemployeesinworkplacesafety,operatingprocedures,andqualitycontrol.
Inaddition,inordertoimprovetheeffectivenessofprofessionaltraining,themoduleheadsofdepartmentsoftheCompanyandtheTalentDevelopmentDepartmentoftheCompany'sHumanResourcesCenterjointlyformulatedthe2023professionaltrainingplanbasedonactualbusinessneeds;atthesametime,theTalentDevelopmentDepartmentoftheHumanResourcesCentersupervisedandmanagedtheimplementationtoensurethefeasibilityofthetrainingplan.In2023,theCompanyheldtargetedprofessionaltrainingforallprofessionalmodulepositionsfromtimetotime,includingfinance,legalaffairs,patents,customs,procurement,supplychain,sales,R&D,manufacturingandquality,etc.Expertsfromvariousfieldswereinvitedtoregularlycommunicateandshareontheseprofessionalmodules,technologiesandothertopics.
TheCompanypaysattentiontothetrainingofthecurrentmanagersandmanagementtrainees,andhasformulateddifferenttrainingplansforthematdifferentlevels.DuringtheReportingPeriod,multiplesessionsof"NewGooseTrainingCamp"(supervisortrainees)and"FlyingGooseTrainingCamp"(managementtrainees)
werecarriedoutinShenzhen,Huizhou,Ningbo,Vietnam,Romaniaandotherplaces.The"NewGoose/FlyingGooseTrainingCamp"isaprofessionaltrainingprogramfortheCompany'sinternalmanagementtrainees/currentmanagers.Theprogramforcurrentmanagersnotonlyallowsmangerstolearnmanagementknowledgeandabsorbothers'experienceinatimelymanner,butalsoprovidesalearningplatformforsharingandcommunication.Theprogramformanagementtraineespreparesfuturemanagersforknowledgereserveandassessmentbeforetheyentermanagementpositions,andonlythosewhopasstheassessmentcansuccessfullyenterthemanagementtalentpool.Inadditiontobasiccoursetraining,thetrainingplaninvolvestargetedtrainingactivitiessuchasmanagementcasepractice,managementdevelopment,micro-lessonpresentations,andIDPinstructionsbyinternalintermediateandseniortutors.Inadditiontobasiccourseactivities,theCompanyassigns2-3managementtutorstoeachtrainee,whoconductmonthlyface-to-faceinterviewstohelptraineeschangetheirmindsetandquicklyadapttomanagementroles.
Inordertobetterassisttalentdevelopment,theCompanycontinuestopromotetheconstructionofajobqualificationsystem,andcarriesoutjobqualificationsortingandjobpersonnelcertification.DuringtheReportingPeriod,theCompanycompletedthereviewofqualificationstandardsfor16positionsinthefieldsofmanufacturing,quality,R&D,etc.,andcompletedcertificationforatotalofapproximately300people.Atthesametime,basedonthejobqualificationsystem,theCompanyhasbuilt9joblearningmapsinprofessionalfieldsandoutput29learningmapcourses.Thejoblearningmapprovidesstaffindifferentpositionswithclearanddefiniteknowledgeandskillsrequiredforpersonaldevelopmentandimprovement,andprovidestargetedcoursesontherequiredprofessionalknowledgeandskillsforeachposition,effectivelyhelpingpersonnelindifferentpositionsimprovetheirprofessionalcapabilities.
4.Laboroutsourcing
□Applicable?NotapplicableX.ProfitdistributionandconversionofcapitalaccumulationfundtosharecapitalintheReportingPeriod
ProfitdistributionpolicyduringtheReportingPeriod,especiallytheformulation,implementationoradjustmentofthecashdividendpolicy
?Applicable□Notapplicable
DuringtheReportingPeriod,theCompany'sBoardofDirectorsformulatedtheCompany's2022ProfitDistributionPlan,afterdetailedconsultationwithandlisteningtotheopinionsoftheCompany'sshareholders,incombinationwiththeCompany's2022profitsituation,investmentsituationand2023investmentandexpenditureplans.The2022ProfitDistributionPlanwasdeliberatedandpassedatthe32ndMeetingofthe7thBoardofDirectorsandthe2022AnnualGeneralMeetingofShareholders.The2022ProfitDistributionPlanisasfollows.BasedontheCompany'stotalsharecapitalontheequityregistrationdate,minus1,264,354,172sharesoftherepurchasedsharesintheCompany'srepurchaseaccount,acashdividendofRMB0.6(taxinclusive)forevery10shareswillbedistributedtoallshareholders.Noaccumulationfundwillbeconvertedtosharecapital,andnobonusshareswillbeissued.TheaboveprofitdistributionplanwasimplementedonMay4,2023.The2022ProfitDistributionPlanisincompliancewithlaws,regulations,theArticlesofAssociationandtheCompany'sShareholderDividendPlanfortheNextThreeYears(2020-2023),andtheprofitdistributiondecision-makingprocedurecomplieswiththeprovisionsofrelevantlaws,regulations,rulesandcodes.
Specialdescriptionofcashdividendpolicy | |
WhetheritcomplieswiththeprovisionsoftheCompany'sArticlesofAssociationortherequirementsoftheresolutionsofshareholders'meeting: | Yes |
Arethedividendcriteriaandproportionclearandexplicit? | Yes |
Aretherelevantdecision-makingproceduresandmechanismscomplete? | Yes |
Haveindependentdirectorsfulfilledtheirdutiesandplayedtheirduerole: | Yes |
IftheCompanydoesnotdistributecashdividends,itshalldisclosethespecificreasonsandthemeasuresitintendstotaketoenhancethelevelofinvestorreturns: | Notapplicable |
Dosmallandmediumshareholdershavesufficientopportunitiestoexpresstheiropinionsanddemands,andaretheirlegitimaterightsandinterestsfullyprotected:
Yes | |
Ifthecashdividendpolicyisadjustedorchanged,aretheconditionsandprocedurescompliantandtransparent? | Notapplicable |
TheCompanyisprofitableduringtheReportingPeriodandtheparentcompanyhaspositiveprofitavailablefordistributiontoshareholders,butnocashdividenddistributionplanhasbeenproposed
□Applicable?NotapplicableProfitdistributionandconversionofcapitalaccumulationfundtosharecapitalintheReportingPeriod?Applicable□Notapplicable
Numberofbonussharessendforevery10shares(shares) | 0 |
Numberofdividendpaidforevery10shares(RMB)(taxinclusive) | 0.6 |
Equitybaseofthedistributionplan(shares) | 1,229,476,988 |
Cashdividends(RMB)(taxinclusive) | 73,768,619.28 |
Amountofcashdividendsdistributedinotherways(suchassharerepurchase)(RMB) | 0.00 |
Totalcashdividends(includingothermethods)(RMB) | 73,768,619.28 |
Distributableprofit(RMB) | 1,222,980,822.83 |
Theproportionoftotalcashdividends(includingothermethods)tototalprofitdistribution | 100% |
Distributionofcashdividendsinthisperiod | |
IftheCompanyisinthegrowthperiodandhasmajorcapitalexpenditures,thecashdividendshallaccountforatleast20%oftheprofitdistribution. | |
Detaileddescriptionoftheprofitdistributionorcapitalaccumulationfundconversionplan | |
TheCompany'sprofitdistributionplanfor2023isasfollows:BasedontheCompany'stotalsharecapitalof1,229,476,988shares(excludingrepurchaseaccountsandrestrictedsharestobecancelled),acashdividendofRMB0.6(taxinclusive)per10shareswillbepaidtoallshareholders.TheCompanywillnotconvertitsaccumulationfundtosharecapitalandwillnotissuebonusshares.Theaccumulatedundistributedprofitsremainingaftertheimplementationoftheprofitdistributionplanshallbecarriedforwardtosubsequentyears.IftheCompany'stotalsharecapitalchangesbeforetheimplementationoftheprofitdistributionplanduetosharerepurchaseorotherreasons,thetotaldistributionamountwillbeadjustedaccordinglybasedontheprincipleofmaintainingthesamedistributionratiopershare. |
XI.ImplementationoftheCompany'sequityincentiveplan,employeestockownershipplanorotheremployeeincentivemeasures?Applicable□Notapplicable
1.Equityincentive
Implementationofthe2021RestrictedStockIncentivePlan:
(1)OnSeptember20,2021,the13th(Extraordinary)Meetingofthe7thBoardofDirectorsdeliberatedandpassedtheProposalontheCompany's2021RestrictedStockIncentivePlan,andagreedtograntupto34millionrestrictedstockstotheincentiveobject.ThesharesofthisplancomefromthesharesrepurchasedbytheCompany'sspecialrepurchaseaccountandtheordinaryAsharesissuedbytheCompanytotheincentiveobject.Amongthem,14,838,920sharesintheCompany'sspecialrepurchasesecuritiesaccountwillbeusedasasourceofsomeofthesharesintheimplementationofthisplan,whiletherestwillbeissuedtotheincentiveobject.Therestrictedperiodoftherestrictedstocksgrantedthistimeis12months,24monthsand36monthsfromthedateofcompletionofthegrantingandregistrationoftherestrictedstocks,andtherestrictedstockswillbeliftedataratioof30%,30%and40%,respectively.
(2)TheCompanyheldthe14thMeetingofthe7thBoardofDirectorsandthe11thMeetingofthe7thBoardofSupervisorsonOctober13,2021,whichdeliberatedandpassedtheProposalontheCompany's2021RestrictedStockIncentivePlan(Draft)andItsAbstract,theProposalontheAppraisalManagementMeasuresfortheImplementationofthe2021RestrictedStockIncentivePlan,andtheProposalonRequestingtheGeneralMeetingofShareholderstoAuthorizetheBoardofDirectorstoHandleMattersRelatedtotheCompany's2021RestrictedStockIncentivePlanandagreedtogrant34millionrestrictedstocksto1,250incentiveobjects.The11thMeetingofthe7thBoardofSupervisorsofdeliberatedandpassedrelevantproposalsandverifiedthelistofincentiveobjectsinthisincentiveplan.Independentdirectorsexpressedindependentopinionsonthismatter,
andlawyersissuedlegalopinions.
(3)OnOctober15,2021,theCompanypubliclyannouncedthenamesandpositionsoftheincentiveobjectsinthisincentiveplanontheCompany'sinternalOAofficesystem,withapublicityperiodfromOctober15,2021toOctober24,2021.Noorganizationorindividualraisedanyobjectiontothelistofincentiveobjectsduringthepublicityperiod.OnOctober26,2021,theCompanydisclosedtheAuditOpinionsoftheBoardofSupervisorsontheListofIncentiveObjectsinthe2021RestrictedStockIncentivePlanandtheExplanationofPublicity.TheBoardofSupervisorsbelievedthattheproposedincentiveobjectsinthisincentiveplandidnothavethesituationthatrelevantlawsandregulationsdonotallowthemtobetheincentiveobjects,andmettheparticipationqualificationswithinthescopeoftheincentiveobjectsinthisincentiveplan.
(4)OnNovember1,2021,theCompanyheldthe2ndExtraordinaryGeneralMeetingofShareholders,whichdeliberatedandpassedtheProposalontheCompany's2021RestrictedStockIncentivePlan(Draft)andItsAbstract,theProposalontheAppraisalManagementMeasuresfortheImplementationofthe2021RestrictedStockIncentivePlan,andtheProposalonRequestingtheGeneralMeetingofShareholderstoAuthorizetheBoardofDirectorstoHandleMattersRelatedtotheCompany's2021RestrictedStockIncentivePlanandotherrelevantproposalsrelatedtotheIncentivePlan,andauthorizedtheBoardofDirectorstodeterminethegrantdateundertheIncentivePlan,grantrestrictedstockstoincentiveobjectswhentheymettheconditionsandhandleallmattersrequiredforthegrantofrestrictedstocks.
(5)OnNovember2,2021,theCompanyheldthe16th(Extraordinary)Meetingofthe7thBoardofDirectorsandthe13th(Extraordinary)Meetingofthe7thBoardofSupervisors,whichdeliberatedandpassedtheProposalonAdjustingtheNumberofStockOptionsGrantedunderthe2021RestrictedStockIncentivePlanandListofIncentiveObjectsandtheProposalonGrantingRestrictedStockstoIncentiveObjects.InviewofthedimissionoftheincentiveobjectOuLispecifiedintheIncentivePlanandthefactthatWangCheng,ShenZhiwenandTianConghuietal.voluntarilygaveupthesubscriptionofrestrictedstockstobegrantedbytheCompanyforpersonalreasons,theBoardofDirectorsoftheCompanydecidedtocanceltherestrictedstockstobegrantedtothem.Afterthecancellation,thenumberofrestrictedstockstobegrantedundertheIncentivePlanwasreducedfrom34millionto33.951million,andthenumberofincentiveobjectsdecreasedfrom1,250to1,246.November2,2021wasdeterminedasthegrantdate,and33.951millionrestrictedstocksweregrantedto1,246eligibleincentiveobjects.TheBoardofSupervisorsoftheCompanyreviewedthelistofincentiveobjects,andindependentdirectorsexpressedtheirindependentopinionsandlawyersissuedlegalopinions.
(6)OnDecember7,2021,theCompanyheldthe17th(Extraordinary)Meetingofthe7thBoardof
Directorsandthe14th(Extraordinary)Meetingofthe7thBoardofSupervisors,whichdeliberatedandpassedtheProposalonAdjustingtheNumberofStockOptionsGrantedunderthe2021RestrictedStockIncentivePlanandListofIncentiveObjects.Inviewofthefactthat22incentiveobjectssuchasLiXiang,YuDingguoandLuYuanshanspecifiedintheIncentivePlanvoluntarilygaveuptheirsubscriptionofalltherestrictedstocksgrantedtothemforpersonalreasonsand10incentivetargetssuchasLiaoXinmeng,WangCaoandLiuXiaoshivoluntarilygaveuptheirsubscriptionofsomeoftherestrictedstocksgrantedtothemforpersonalreasonsintheprocessofcapitalpaymentbeforeshareregistrationaftertheBoardofDirectorsoftheCompanyconfirmedNovember2,2021asthegrantdateunderthe2021RestrictedStockIncentivePlan,theBoardofDirectorsoftheCompanyadjustedtheobjectsandthenumberofsharesgrantedunderthe2021RestrictedStockIncentivePlanaccordingtotheauthorizationofthe2ndExtraordinaryGeneralMeetingofShareholdersoftheCompanyin2021.Afteradjustment,thenumberofincentiveobjectsunderthe2021RestrictedStockIncentivePlandecreasedfrom1,246to1,224,andthenumberofrestrictedstocksgranteddecreasedfrom
33.951millionto33.54432million.TheBoardofSupervisorsoftheCompanyreviewedthelistofincentiveobjects,andindependentdirectorsexpressedtheirindependentopinionsandlawyersissuedlegalopinions.
(7)OnDecember17,2021,uponreviewandconfirmationbytheShenzhenStockExchangeandShenzhenBranchofChinaSecuritiesDepositoryandClearingCo.,Ltd.,theCompanycompletedthegrantingandregistrationof187,054millionrestrictedstocks(newshares)and14,838,920restrictedstocks(repurchasedshares)involvedinthe2021RestrictedStockIncentivePlan.TheaboveshareswerelistedonDecember17,2021.
(8)OnMarch30,2022,the23rd(Extraordinary)Meetingofthe7thBoardofDirectorsdeliberatedandpassedtheProposalontheProposalonRepurchaseandCancellationofSomeRestrictedStocksfromRestrictedStockIncentivePlanin2021,andagreedtorepurchaseandcancel201,000restrictedstocksthathavebeengrantedbutnotyetunlockedof10incentiveobjects,includingWuSongandLuoQingshaninthe2021RestrictedStockIncentivePlan,whoresignedfromtheCompanyduetopersonalreasons.Theabovemattershadbeendeliberatedandpassedbythe2021AnnualGeneralMeetingofShareholders.
(9)OnJuly25,2022,the26thMeetingofthe7thBoardofDirectorsandthe22ndMeetingofthe7thBoardofSupervisorsdeliberatedandpassedtheProposalonAdjustingtheRepurchasePriceof2021RestrictedStockIncentivePlan.The2021annualequitydistributionplanwasimplemented,andtherepurchasepricewasadjustedfromRMB7.23persharetoRMB7.18pershareaccordingly.
(10)OnAugust18,2022,the27th(Extraordinary)Meetingofthe7thBoardofDirectorsandthe22nd
(Extraordinary)Meetingofthe7thBoardofSupervisorsdeliberatedandpassedtheProposalontheProposalonRepurchaseandCancellationofSomeRestrictedStocksfromRestrictedStockIncentivePlanin2021,andagreedtorepurchaseandcancel1.291millionrestrictedstocksthathavebeengrantedbutnotyetunlockedof66incentiveobjects,includingWeiYinandLiXinweiinthe2021RestrictedStockIncentivePlan,whoresignedfromtheCompanyduetopersonalreasons.Theabovemattershadbeendeliberatedandpassedbythe2ndExtraordinaryGeneralMeetingofShareholdersin2022.
(11)OnNovember23,2022,the28th(Extraordinary)Meetingofthe7thBoardofDirectorsandthe23rd(Extraordinary)Meetingofthe7thBoardofSupervisorsdeliberatedandpassedtheProposalonAdjustingCorporate-levelPerformanceEvaluationIndicatorsof2021RestrictedStockIncentivePlan,andagreedtoadjustthecorporate-levelperformanceevaluationindicatorsof2021RestrictedStockIncentivePlan.Independentdirectorsexpressedindependentopinions,thelawfirmissuedlegalopinions,andaffiliateddirectorsrecusedthemselvesfromvoting.Theabovemattershadbeendeliberatedandpassedonthe3rdExtraordinaryGeneralMeetingofShareholdersin2022.
(12)OnDecember27,2022,giventhat76incentiveobjects,includingWuSong,LuoQingshan,WeiYinandLiXinweiinthe2021RestrictedStockIncentivePlan,resignedfromtheCompanyduetopersonalreasonsandnolongermettheconditionsofbecomingtheincentiveobject,theirrestrictedstocksthathavebeengrantedbutnotunlockedcouldnotbeunlockedandwouldbecanceledafterbeingrepurchasedbytheCompany.TheaboverepurchaseandcancellationmatterswerecompletedonDecember27,2022.Aftertherepurchaseandcancellation,thenumberofincentiveobjectsinthe2021RestrictedStockIncentivePlanreducedfrom1,224to1,148,andthegeneralcapitalreducedfrom1,271,027,372sharesto1,269,535,372shares.
(13)OnMarch29,2023,the32ndMeetingofthe7thBoardofDirectorsandthe27thMeetingofthe7thBoardofSupervisors,deliberatedandpassedtheProposalonFulfillmentofRestrictedShareReleaseConditionsfor2021RestrictedStockIncentivePlanaftertheFirstRestrictedStockTradePeriodandProposalonRepurchaseandCancellationofSomeRestrictedStocksfromRestrictedStockIncentivePlanin2021.9,351,936sharesgrantedto1,109peopleunderthe2021IncentivePlancanbereleasedafterthefirstrestrictedstocktradeperiod.Meanwhile,39people,includingLiChaoyi,WangCaihuiandDingBo,resignedandlefttheCompanyduetopersonalreasons,andfourofthegrantees,includingTangYingjieandShiWenhui,oftheincentiveplanachieveda"Good"or"OK"levelintheperformanceappraisal,resultedinthereleaseof80%oftherestrictedstock.Itwasapprovedtorepurchaseandderegisteratotalof870,660restrictedsharesformerlyownedbytheabove43peoplethatshallnotbereleased.AnindependentdirectoroftheCompanygivenhisindependentopinionfortheapproval,andthelawfirmissuedthecorrespondinglegalopinion.
(14)OnApril12,2023,thereleaseconditionsforthefirstreleaseperiodundertheCompany's2021RestrictedStockIncentivePlanhavebeenfulfilled.OnMarch29,2023,the32ndMeetingofthe7thBoardofDirectorsoftheCompanydeliberatedandpassedtheProposalonFulfillmentofRestrictedShareReleaseConditionsfor2021RestrictedStockIncentivePlanaftertheFirstRestrictedStockTradePeriod.ThereleaseconditionsforthefirstrestrictedstocktradeperiodsetoutintheCompany's2021IncentivePlanhavebeenmet.Atotalof9,351,936shareswerereleasedfromthesaidperiod,accountingfor0.7366%oftheCompany'stotalsharecapital.Thenumberofincentiverecipientsinvolvedis1,109.Thereisnodifferencebetweentherelevantcontentofthe2021IncentivePlanimplementedthistimeandthedisclosedincentiveplan.
(15)OnApril25,2023,the33rdMeetingofthe7thBoardofDirectorsandthe28thMeetingofthe7thBoardofSupervisorsdeliberatedandpassedtheProposalonAdjustingtheRepurchasePriceofRestrictedStockOptionIncentivePlanin2021.DuetotheequitydistributionoftheCompanyfortheyear2022,therepurchasepriceofRestrictedStockwasadjustedfromRMB7.18toRMB7.12inaccordancewith(I)AdjustmentmethodofrepurchasepriceinChapterXVIPrinciplesforRepurchaseandDeregistrationofRestrictedStockinthe2021RestrictedStockIncentivePlan(DraftAmendment).TheBoardofSupervisorsreviewedtheadjustmentprocedure,anindependentdirectoroftheCompanygavehisindependentopinionfortheapproval,andthelawfirmissuedthecorrespondinglegalopinion.
(16)OnSeptember7,2023,the37thMeetingofthe7thBoardofDirectorsandthe30thMeetingofthe7thBoardofSupervisorsdeliberatedandpassedtheProposalonRepurchaseandCancellationofSomeRestrictedStocksfromRestrictedStockIncentivePlanin2021,andagreedtorepurchaseandcancel1,062,600restrictedstocksthathavebeengrantedbutnotyetunlockedof65incentiveobjects,includingWangLinandSunLiangquaninthe2021RestrictedStockIncentivePlan,whoresignedfromtheCompanyduetopersonalreasons.Theabovemattershadbeendeliberatedandpassedonthe2ndExtraordinaryGeneralMeetingofShareholdersin2023.
(17)OnNovember16,2023,afterreviewandconfirmationbytheShenzhenBranchofChinaSecuritiesDepositoryandClearingCo.,Ltd.,therepurchaseandcancellationof1,933,260restrictedsharesof104formeremployeesincludingLiChaoyi,WangCaizhi,DingBo,and4employeesincludingTangYingjieandShiWenhui(resigned)whowereunabletoreleasetherestrictiononsaleduetothefirst-periodperformanceappraisalwerecompleted.Thenumberofincentiveobjectsin2021RestrictedStockIncentivePlanreducedfrom1,148to1,044,andthegeneralcapitalreducedfrom1,269,535,372sharesto1,267,602,112shares.
(18)OnDecember1,2023,theCompanyheldthe4th(Extraordinary)Meetingofthe8thBoardof
Directorsandthe3rd(Extraordinary)Meetingofthe8thBoardofSupervisorstodeliberateandpasstheProposalonTerminatingtheImplementationoftheRestrictedStockIncentivePlanfor2021andRepurchasingandCancellingRestrictedStocks,agreeingtorepurchaseandcancel270,900restrictedsharesthathavebeengrantedbutnotyetexercisedby20incentiveobjectsincludingShenHaibingandWangSifuwhohaveresignedforpersonalreasonsatapriceofRMB7.12pershare;andagreeingtorepurchaseandcancel20,496,224restrictedsharesthathavebeengrantedbutnotyetreleasedby1,024in-serviceincentiveobjectsatapriceofRMB7.35pershare(itwasroundedoff,andthepaymentamountwassubjecttotheactualcalculation).Theabovemattershadbeendeliberatedandpassedonthe3rdExtraordinaryGeneralMeetingofShareholdersin2023.FordetailsoftheimplementationoftheRestrictedStockIncentivePlanin2021,pleaserefertotheCompany'sannouncementsonSecuritiesTimesandCNINFO(http://www.cninfo.com.cn)onSeptember22,2021,October14,2021,November2,2021,November3,2021,December9,2021,December16,2021,December20,2021,March31,2022,July26,2022,August19,2022,September24,2022,December28,2022,March31,2023,April26,2023,September9,2023,November16,2023,andDecember2,2023.EquityincentivesreceivedbytheCompany'sdirectorsandseniorexecutives?Applicable□Notapplicable
Unit:Share
Name | Position | Numberofstockoptionsheldatthebeginningoftheyear | NumberofnewstockoptionsgrantedduringtheReportingPeriod | NumberofsharesexercisableduringtheReportingPeriod | NumberofsharesexercisedduringtheReportingPeriod | Exerciseprice(RMB/share) | Numberofstockoptionsheldattheendoftheperiod | StockmarketpriceattheendoftheReportingPeriod(RMB/share) | Numberofrestrictedstocksheldatthebeginningoftheperiod | Thenumberofsharesreleasedinthisperiod | NumberofrestrictedstocksnewlygrantedduringtheReportingPeriod | Grantpriceofrestrictedstocks(RMB/share) | Numberofrestrictedstocksheldattheendoftheperiod |
MaWei | Director,VicePresidentandBGPresident | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 616,000 | 184,800 | 0 | 7.23 | 431,200 |
ZhengSibin | Director,VicePresidentandBGPresident | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 533,000 | 159,900 | 0 | 7.23 | 373,100 |
PengGanquan | DirectorandBGPresident | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 400,000 | 120,000 | 0 | 7.23 | 280,000 |
WenZhaohui | VicePresidentandSecretaryoftheBoardofDirectors | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 183,000 | 54,900 | 0 | 7.23 | 128,100 |
XiangWei | FormerChiefFinancialOfficer | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 183,000 | 54,900 | 0 | 7.23 | 128,100 |
LuoMuchen | CurrentChiefFinancialOfficer | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 50,000 | 15,000 | 0 | 7.23 | 35,000 |
Total | -- | -- | -- | 1,965,000 | 589,500 | 0 | -- | 1,375,500 | ||
Remarks(ifany) | DuringtheReportingPeriod,thereleaseconditionsforthefirstrestrictedstocktradeperiodsetoutinthe2021RestrictedStockIncentivePlanhavebeenmet.Theproportionofreleaseis30%. |
EvaluationandincentivesofseniorexecutivesTheperformanceappraisaloftheCompany'scoremanagementpersonnelisbasedontheCompany'soperatingefficiencyandstrategicgoals.ItisbasedontheCompany'sannualproduction,operation,andmanagementcapacitybuildingandthecompletionofthegoalsofthemanagers'respectivework.Theappraisalisconductedintheprinciplesofcombiningdistributionaccordingtoworkwithresponsibilities,rights,andinterests,linkingincomelevelswiththeCompany'sperformanceandthegoalsoftheirrespectivework,givingequalweighttoincentivesandconstraints,andcombiningresultappraisalwithprocessmanagement.TheremunerationdistributionofseniorexecutivesisdeterminedbasedontheappraisalresultstopromotetheCompany'slong-termdevelopmentandtheachievementofitsstrategicgoals.
TheCompany'sseniorexecutiveremunerationisimplementedonanannualsalarybasis,whichconsistsofbasicannualsalary,performance-basedannualsalaryandlong-termequityincentives.ThebasicannualsalaryismainlydeterminedbasedontheCompany'saveragesalarylevelofseniorexecutivesinthepreviousyear,withreferencetofactorssuchasindustrycharacteristicsandmarketsalarytrends.Theperformance-basedannualsalaryisdeterminedbasedontheyear-endmanagementlevel,operatingefficiencyandoperatingquality,andissubmittedtotheBoardofDirectorsforreviewanddistributionafterassessment.Thelong-termequityincentiveisformulatedbytheCompany'sregularequityincentiveassessmentmanagementmeasures.
2.Implementationofemployeestockownershipplan
□Applicable?Notapplicable
3.Otheremployeeincentives
□Applicable?Notapplicable
XII.ConstructionandimplementationofinternalcontrolsystemduringtheReportingPeriod
1.Constructionandimplementationofinternalcontrol
DuringtheReportingPeriod,theCompanycontinuedtoupdateandimproveitsinternalcontrolsystembasedontheactualsituationoftheCompany,inaccordancewiththeBasicStandardsforEnterpriseInternalControl,ManagementMeasuresforIndependentDirectorsofListedCompanies,GuidelinesfortheApplication
ofEnterpriseInternalControlandothernormativedocuments,combinedwiththeCompany'sinternalcontrolsystemandevaluationmethods,onthebasisofdailysupervisionandspecialsupervisionofinternalcontrol.DuringtheReportingPeriod,theCompanyrevisedtheArticlesofAssociation,RulesofProcedurefortheGeneralMeetingofShareholders,RulesofProcedurefortheBoardofDirectorsandothersystemsinaccordancewiththelatestprovisionsofthelatestlaws,regulationsandnormativedocumentsandinlightoftheCompany'sactualsituation,andnewinternalmanagementsystemssuchastheWorkingSystemforSecretaryoftheBoardofDirectors,WorkingSystemforIndependentDirectorsandWorkingSystemforSpecialMeetingsofIndependentDirectors.Atthesametime,accordingtomanagementneeds,theCompanysetupaninternalauditagencyandspecialmeetingsofindependentdirectors.Thesemechanismscoordinatedwiththeauditcommitteeandindependentdirectorstosuperviseandinspecttheimplementationofrelevantsystems.ThiscaneffectivelyensuretheimplementationoftheCompany'srulesandregulations,reduceoperatingrisks,andstrengtheninternalcontrol.TheCompanycontinuedtooptimizeitsorganizationalstructure,andclarifiedtheresponsibilitiesofeachdepartmentandcorrespondingpositions.Inthisway,theCompanyeffectivelycontrolledtheimplementationofinternalcontrolsinvolvedintheentireprocessofbusinessmanagementactivities,suchasdecision-making,execution,supervision,andfeedback,effectivelyavoidinginternalcontrolloopholes.TheCompanyestablishedarigorous,scientific,effectiveinternalcontrolsystemsuitableforitsactualsituation,andformulatedeffectiveinternalcontrolevaluationstandards;TheCompanyeffectivelypreventedrisksinbusinessmanagementandpromotedtheachievementofinternalcontrolobjectivesthroughtheoperation,analysis,andevaluationofitsinternalcontrolsystem.
2.DetailsofmajorinternalcontroldeficienciesfoundduringtheReportingPeriod
□Yes?No
XIII.ManagementandcontroloftheCompany'ssubsidiariesduringtheReportingPeriodNotapplicableXIV.Internalcontrolevaluationreportorinternalcontrolauditreport
1.Internalcontrolevaluationreport
Datefordisclosureofthefulltextoftheinternalcontrolevaluationreport | March27,2024 |
Indexfordisclosureofthefulltextofthe | CNINFO(http://www.cninfo.com.cn) |
internalcontrolevaluationreport | ||
TheproportionoftotalassetsoftheunitsincludedintheevaluationscopetothetotalassetsoftheCompany'sconsolidatedfinancialstatements | 100.00% | |
TheproportionofoperatingincomeoftheunitsincludedintheevaluationscopetotheoperatingincomeoftheCompany'sconsolidatedfinancialstatements | 100.00% | |
Defectidentificationcriteria | ||
Category | Financialreport | Non-financialreport |
Qualitativecriteria | Indicationsofmajordefectoffinancialreportsinclude:(1)FraudulentconductbytheCompany'sdirectors,supervisorsandseniorexecutives;(2)TheCompanyhascorrecteditspublishedfinancialreports;(3)MaterialmisstatementsinthecurrentfinancialreportsdiscoveredbythecertifiedpublicaccountantsbutnotidentifiedbytheCompany'sinternalcontrol;(4)TheauditcommitteeandauditdepartmentwereineffectiveinsupervisingtheCompany'sexternalfinancialreportsandinternalcontroloverfinancialreports.Indicationsofsignificantdefectoffinancialreportsinclude:(1)Failuretoselectandapplyaccountingpoliciesinaccordancewithgenerallyacceptedaccountingprinciples;(2)Failuretoestablishanti-fraudproceduresandcontrolmeasures;(3)Failuretoestablishcorrespondingcontrolmechanismsfortheaccountingtreatmentofnon-routineorspecialtransactionsorfailuretoimplementandhavingnocorrespondingcompensatorycontrols;(4)Thereisoneormoredefectsinthecontroloverthefinalfinancialreportingprocessandthereisnoreasonableassurancethatthepreparedfinancialreportsaretrueandcomplete.Generaldefectsrefertoothercontroldefectsotherthantheabove-mentionedmajorandimportantdefects. | Thequalitativecriteriaforevaluatinginternalcontroldefectsinnon-financialreportsdeterminedbytheCompanyareasfollows:Thenon-financialreportdefectidentificationismainlybasedontheinfluencedegreeofthedefectonthevalidityofthebusinessprocessandthepossibilityofoccurrence.Iftheprobabilityofadefectisrelativelylowanditwillreduceworkefficiencyoreffect,orincreasetheuncertaintyoftheeffect,ormakeitdeviatefromtheexpectedgoal,itisrecognizedasageneraldefect;Iftheprobabilityofadefectisrelativelyhighanditwillsignificantlyreduceworkefficiencyoreffect,orsignificantlyincreasetheuncertaintyoftheeffect,ormakeitsignificantlydeviatefromtheexpectedgoal,itisrecognizedasasignificantdefect;Iftheprobabilityofadefectishighanditwillseriouslyreduceworkefficiencyoreffect,orseriouslyincreasetheuncertaintyoftheeffect,ormakeitseriouslydeviatefromtheexpectedgoal,itisrecognizedasamajordefect. |
Quantitativestandard | Thequantitativestandardusesconsolidatedoperatingincomeandtotalassetsasmeasurementindicators.Ifthelossesthatmaybecausedorwerecausedbyinternalcontroldefectsarerelatedtotheprofitstatement,theyaremeasuredbytheconsolidatedoperatingincomeindicators.Iftheamountofmisstatementinthefinancialreportsthatmaybecausedbythedefectaloneortogetherwithotherdefectsislessthan0.5%oftheconsolidatedoperatingincome,itisconsideredasageneraldefect;ifitexceeds0.5%butlessthan1%ofthe | Thequantitativestandardusesoperatingincomeandtotalassetsasmeasurementindicators.Ifthelossesthatmaybecausedorwerecausedbyinternalcontroldefectsarerelatedtotheprofitstatement,theyaremeasuredbytheconsolidatedoperatingincomeindicators.Iftheamountofmisstatementinthefinancialreportsthatmaybecausedbythedefectaloneortogetherwithotherdefectsislessthan0.5%oftheconsolidatedoperatingincome,itisconsideredasageneraldefect;ifitexceeds0.5%butlessthan1%oftheconsolidatedoperatingincome,itis |
consolidatedoperatingincome,itisconsideredasamajordefect;andifitexceeds1%oftheconsolidatedoperatingincome,itisconsideredasamaterialdefect.Ifthelossesthatmaybecausedorwerecausedbyinternalcontroldefectsarerelatedtoassetmanagement,theyaremeasuredbytheindicatoroftotalconsolidatedassets.Iftheamountofmisstatementinthefinancialreportsthatmaybecausedbythedefectaloneortogetherwithotherdefectsislessthan0.5%ofthetotalconsolidatedassets,itisconsideredasageneraldefect;ifitexceeds0.5%butlessthan1%ofthetotalconsolidatedassets,itisconsideredasamajordefect;andifitexceeds1%ofthetotalconsolidatedassets,itisconsideredasamaterialdefect. | consideredasamajordefect;andifitexceeds1%oftheconsolidatedoperatingincome,itisconsideredasamaterialdefect.Ifthelossesthatmaybecausedorwerecausedbyinternalcontroldefectsarerelatedtoassetmanagement,theyaremeasuredbytheindicatoroftotalconsolidatedassets.Iftheamountofmisstatementinthefinancialreportsthatmaybecausedbythedefectaloneortogetherwithotherdefectsislessthan0.5%ofthetotalconsolidatedassets,itisconsideredasageneraldefect;ifitexceeds0.5%butlessthan1%ofthetotalconsolidatedassets,itisconsideredasamajordefect;andifitexceeds1%ofthetotalconsolidatedassets,itisconsideredasamaterialdefect. | |
Numberofmaterialdefectsinfinancialreports(Nr.) | 0 | |
Numberofmaterialdefectsinnon-financialreports(Nr.) | 0 | |
Numberofmajordefectsinfinancialreports(Nr.) | 0 | |
Numberofmajordefectsinnon-financialreports(Nr.) | 0 |
2.Internalcontrolauditreport?Applicable□Notapplicable
Thedeliberationopinionparagraphintheinternalcontrolauditreport | |
WebelievethatShenzhenTopbandCo.,Ltd.maintainedeffectiveinternalcontroloverfinancialreportsinallmaterialaspectsasofDecember31,2023inaccordancewiththeBasicStandardsforEnterpriseInternalControlandrelevantregulations. | |
Disclosureofinternalcontrolauditreport | Disclosure |
Dateoffull-textdisclosureofinternalauditreport | March27,2024 |
Indexoffull-textdisclosureofinternalauditreport | CNINFO(http://www.cninfo.com.cn) |
Internalcontrolauditreportopiniontypes | Standardunmodifiedopinion |
Aretherematerialdefectsinthenon-financialreport | No |
Didtheaccountingfirmissueaninternalcontrolauditreportwithanon-standardopinion
□Yes?NoIstheinternalcontrolauditreportissuedbytheaccountingfirmconsistentwiththeself-examinationreportoftheBoardofDirectors?Yes□NoXV.Rectificationofself-examinationproblemsinspecialactionsofgovernanceoflistedcompaniesNotapplicable
SectionVEnvironmentalandSocialResponsibilityI.Majorenvironmentalissues
WhetherthelistedcompaniesandtheirsubsidiarieswerekeypollutantdischargingorganizationsannouncedbytheEnvironmentalProtectionDepartment
□Yes?NoAdministrativepunishmentforenvironmentalproblemsduringtheReportingPeriod
NameoftheCompanyoritssubsidiaries | Reasonforpunishment | Descriptionofviolation | Punishment | ImpactsonproductionandoperationoftheCompany | RectificationmeasuresoftheCompany |
Notapplicable | Notapplicable | Notapplicable | Notapplicable | Notapplicable | Notapplicable |
RefertootherenvironmentalinformationdisclosedbykeypollutantdischargecompaniesDuringtheproductionoftheCompany,therearenoheavypollutions.TheCompanyhasalwayspaidattentiontoitssocialpublicimage,considersenvironmentalprotectionasanimportantpartofitscorporationsocialresponsibilities,andmakesensurethatindustrialsolidwastesareeffectivelydisposedofinaccordancewithregulationsandthedischargeofpollutantsmeetsthenationalenvironmentalprotectionstandards.TheCompanyhaspassedtheISO14001:2015environmentalmanagementsystemcertification,alsoimplementstheHSPMQC080000hazardoussubstancesprocessmanagementsystem,andhasestablishedaseriesofproceduredocumentsinrespectofenvironmentalfactoridentificationandevaluation,environmentalmonitoringandmeasurementmanagement,environmentalcommunicationmanagement,treatmentandcontrolofwastewater/exhaustgas/solidwastes,identificationandcontrolofhazardoussubstances,etc.tospecifytheenvironmentalprotectionorganizationandresponsibilitiesundertheenvironmentalmanagementsystemoftheCompany.ThecertificationofthesystemandtheestablishmentoftherelatedsupportingsystemsbytheCompanyindicatethatithasachievedinstitutionalizedandpracticablearrangementsinenvironmentalprotection.MeasuresandeffectstakentoreducecarbonemissionsduringtheReportingPeriod
□Applicable?NotapplicableReasonsfornotdisclosingotherenvironmentalinformationNotapplicable
II.SocialresponsibilityFordetails,pleaseseethefulltextoftheCompany's"2023ESGandSocialResponsibilityReport"publishedonCNINFO(http://www.cninfo.com.cn)onMarch27,2024.III.Consolidatedandenhancedtheachievementsinpovertyalleviationandruralrevitalization
TheCompanyhasnotcarriedoutanytargetedpovertyalleviationworkinthereportingyear,nordoesithaveanysubsequenttargetedpovertyalleviationplans.
SectionVIImportantMattersI.Fulfillmentofcommitments
1.CompletedcommitmentsintheReportingPeriodanduncompletedcommitmentswithinthetimelimitbytheendoftheReportingPeriodbytheCompany'sactualcontroller,shareholders,relatedparties,acquirers,theCompanyandothercommittedrelatedparties?Applicable□Notapplicable
Reasonsforcommitments | CommitmentParty | Commitmenttype | Commitmentcontent | Commitmenttime | Commitmentperiod | Performance |
Commitmentsmadeduringtheinitialpublicofferingorrefinancing | WuYongqiang | Commitmentstohorizontalcompetition | Mr.WuYongqiang,theactualcontrolleroftheCompany,haspromisedthatduringtheperiodofbeingthecontrollingshareholderand/oractualcontrolleroftheCompany,hewouldnotdirectlyorindirectlyengageinanybusinesswhichwasthesame,similarorsubstantiallycompetitivewiththemainbusinessoftheCompanyatpresentandinthefuture. | 2006/06/12/ | Long-term | Fulfillthecommitmentstrictly |
Commitmentsmadeduringtheinitialpublicofferingorrefinancing | JiShuhai | Commitmentstohorizontalcompetition | JiShuhai,adirectoroftheCompanyasashareholder,haspromisednottodirectlyorindirectlyengageinanybusinesswhichwasthesame,similarorsubstantiallycompetitivewiththemainbusinessoftheCompanyatpresentandinthefutureinanywayduringhistermofoffice. | 2006/06/12/ | Completionofperformance | Fulfillthecommitmentstrictly |
Commitmentsmadeduringtheinitialpublicofferingorrefinancing | AlldirectorsandseniorexecutivesoftheCompany | Othercommitments | 1.IwouldnotdeliverbenefitstootherorganizationsorindividualsfreeofchargeorunderunfairconditionsandnotdamagetheinterestsoftheCompanyinothermeans.2.IfullysupportedandcooperatedwiththeCompanyinregulatingthedutyconsumptionbehaviorofdirectorsandseniorexecutives.AnydutyconsumptionbehaviorswouldoccurwithinthescopenecessaryforfulfillingmydutytotheCompany.IstrictlyacceptedthesupervisionandmanagementoftheCompanytoavoidextravaganceorexcessiveconsumption.3.Iwouldstrictlyabidebytherelevantlawsandregulations,theregulationsandrulesoftheCSRC,thestockexchangeandotherregulatoryinstitutionsaswellastherequirementsoftheCompany'srulesandregulationsonthecodeofconductofdirectorsandseniorexecutives.Besides,IwouldnotusetheCompany'sassetstoengageininvestmentandconsumptionactivitiesunrelatedtotheperformanceofmyduties.4.IwouldtrymybesttomaketheCompanyimplementthecompensationdemandreturnmeasures.5.IwouldworkhardtolinkthecompensationsystemformulatedbytheBoardofDirectorsortheCompensationCommitteewiththeimplementationoftheCompany'scompensationreturnmeasures.Atthesametime,Iwouldvoteinfavorof | 2020/04/29/ | On-going | Fulfillthecommitmentstrictly |
thecompensationsystemproposalwhentheBoardofDirectorsandtheGeneralMeetingofShareholdersoftheCompanydeliberated(ifIhavevote/votingright).6.IftheCompanywouldimplementtheemployeeequityincentiveinthefuture,IwouldfullysupporttheCompanytolinkthearrangementofexerciseconditionsoftheemployeeincentivewiththeimplementationoftheCompany'scompensationreturnmeasures.Atthesametime,IwouldvoteinfavoroftheemployeeequityincentiveproposalwhentheBoardofDirectorsandtheGeneralMeetingofShareholdersoftheCompanydeliberated(ifIhavevote/votingright).7.IfIviolatetheabovecommitments,IwouldmakeanexplanationandapologizepubliclyattheGeneralMeetingofShareholdersandthedesignatednewspapersandmagazinesdesignatedbytheCSRC.Ivoluntarilyaccepttheself-disciplinesupervisionmeasurestakenbythestockexchangeandChinaAssociationforPublicCompanies.IfmybreachofthecommitmentcauseslossestotheCompanyortheshareholders,Ishallbeliableforcompensationinaccordancewiththelaw. | ||||||
Commitmentsmadeduringtheinitialpublicofferingorrefinancing | WuYongqiang | Othercommitments | 1.Iwouldnotabusethepositionofthecontrollingshareholder/actualcontrollertointerferewiththeoperationandmanagementactivitiesoftheCompanybeyondmypowerandwouldnotinfringetheCompany'sinterestsunderanycircumstances.2.IwouldtrymybesttomaketheCompanyimplementthecompensationdemandreturnmeasures.3.IwouldworkhardtolinkthecompensationsystemformulatedbytheBoardofDirectorsortheCompensationCommitteewiththeimplementationoftheCompany'scompensationreturnmeasures.4.Iwouldworkhardtolinktheexerciseconditions(ifany)ofthecorporateequityincentivetobepublishedinthefuturewiththeimplementationoftheCompany'scompensationreturnmeasures.5.IwouldsupporttherelevantproposalsrelatedtotheimplementationoftheCompany'scompensationreturnmeasuresandwouldvoteforthem(ifIhavevotingright).6.Aftertheissuanceofthiscommitment,ifthereareotherrequirementsintherelevantprovisionsoftheregulatoryinstitutiononthecompensationreturnmeasuresanditscommitmentandtheabovecommitmentscouldnotmeettherelevantrequirementsoftheregulatoryinstitution,IpromisethatIwouldissueasupplementarycommitmentinaccordancewiththerelevantprovisionsatthattime.7.IfIviolatetheabovecommitments,IwouldmakeanexplanationandapologizepubliclyattheGeneralMeetingofShareholdersandthedesignatednewspapersandmagazinesdesignatedbytheCSRC.I | 2020/04/29/ | On-going | Fulfillthecommitmentstrictly |
voluntarilyaccepttheself-disciplinesupervisionmeasurestakenbythestockexchangeandChinaAssociationforPublicCompanies.IfmybreachofthecommitmentcauseslossestotheCompanyortheshareholders,Ishallbeliableforcompensationinaccordancewiththelaw. | |||
Whetherthecommitmentwasfulfilledonschedule | Yes | ||
Ifthecommitmentwasnotfulfilledwithinthetimelimit,thespecificreasonsforthefailureandthenextworkplanshallbeexplainedindetail. | Notapplicable |
2.IftherewasaprofitforecastfortheCompany'sassetsorprojects,andtheReportingPeriodwasstillintheprofitforecastperiod,theCompanyshallexplainwhytheassetsorprojectsreachedtheoriginalprofitforecastandthereasons.
□Applicable?Notapplicable
II.Non-operatingcapitaloccupationoflistedcompaniesbycontrollingshareholdersandtheirrelatedparties
□Applicable?NotapplicableTherewasnonon-operatingcapitaloccupationoflistedcompaniesbycontrollingshareholdersandtheirrelatedpartiesintheReportingPeriodoftheCompany.
III.Externalguaranteeinviolationofregulations
□Applicable?NotapplicableTheCompanyhadnoexternalguaranteeinviolationofregulationsduringtheReportingPeriod.IV.ExplanationoftheBoardofDirectorsonthelatest"non-standardauditreport"
□Applicable?Notapplicable
V.Explanationofthe"non-standardauditreport"oftheAccountingFirmintheReportingPeriodbytheBoardofDirectors,theBoardofSupervisors,andIndependentDirectors(ifany)
□Applicable?Notapplicable
VI.Descriptionofchangesinaccountingpolicies,accountingestimates,orcorrectionsofsignificantaccountingerrorscomparedwiththepreviousyear'sfinancialreport
□Applicable?NotapplicableTherewerenochangesinaccountingpolicies,accountingestimatesorcorrectionsofsignificantaccountingerrorsduringtheReportingPeriod.
VII.Explanationofchangesinthescopeoftheconsolidatedfinancialreportscomparedwiththepreviousyear'sfinancialreport?Applicable□NotapplicableDuringtheReportingPeriod,threecompanieswerenewlyincludedinthescopeofconsolidation,whichwerenewlyestablishedsub-subsidiaries,andoneofwhichwasliquidatedandcancelled.Fordetails,pleaseseeIX,ChangesintheScopeofConsolidationinSectionX.VIII.Appointmentanddismissalofaccountingfirms
Currentlyemployedaccountingfirm
Nameofdomesticaccountingfirm | BAKERTILLYInternationalAccountingFirm(SpecialGeneralPartnership) |
Remunerationofthedomesticaccountingfirm(RMBtenthousand) | 100 |
Consecutiveyearsfordomesticaccountingfirmstoprovideauditservice | 5 |
Nameofthecertifiedpublicaccountantofthedomesticaccountingfirm | ChenZhigang,ZhaoYang,LiuZhaoyu |
ConsecutiveyearsforCertifiedPublicAccountantsofdomesticaccountingfirmstoprovideauditservice | ChenZhigangandZhaoYanghavebeenprovidingauditservicesfor5consecutiveyears,andLiuZhaoyuhasbeenprovidingauditservicesfor1year |
Whethertohireanewaccountingfirmduringthecurrentperiod
□Yes?NoEmploymentofaccountingfirmforauditofinternalcontrols,financialconsultant,orsponsor?Applicable□NotapplicableIn2023,theCompanyhiredBakerTillyChinaCertifiedPublicAccountants(SpecialGeneralPartnership)asits
internalcontrolauditagency.IX.Delistingafterdisclosureoftheannualreport
□Applicable?NotapplicableX.Mattersrelatedtobankruptcyreorganization
□Applicable?NotapplicableTherewerenomatterrelatedtobankruptcyreorganizationduringtheReportingPeriod.
XI.Majorlitigationandarbitrationmatters
□Applicable?NotapplicableTheCompanyhadnomajorlitigationandarbitrationmattersduringtheReportingPeriod.
XII.Punishmentandrectification
□Applicable?NotapplicableTherewerenopenaltiesorrectificationsduringtheCompany'sReportingPeriod.
XIII.IntegrityconditionoftheCompany,itscontrollingshareholdersandactualcontrollers
□Applicable?NotapplicableXIV.Majorrelatedtransactions
1.Relatedtransactionsconnectedwiththedailyoperation
□Applicable?NotapplicableTheCompanyhadnorelatedtransactionsconnectedwithdailyoperationsduringtheReportingPeriod.
2.Relatedtransactionsarisingfromacquisitionandsaleofassetsorequity
□Applicable?NotapplicableTheCompanyhadnorelatedtransactionofacquisitionorsaleofassetsorequityduringtheReportingPeriod.
3.Relatedtransactionsofjointforeigninvestment
□Applicable?NotapplicableTheCompanyhadnorelatedtransactionofjointforeigninvestmentduringtheReportingPeriod.
4.Relatedcreditor'srightanddebttransaction
□Applicable?NotapplicableTheCompanyhadnorelatedcreditor'srightanddebttransactionduringtheReportingPeriod.
5.Transactionswithassociatedfinancialcompanies
□Applicable?NotapplicableTherewasnodeposit,loan,creditextensionorotherfinancialbusinessbetweentheCompanyanditsrelatedfinancialcompaniesorbetweentherelatedparties.
6.TransactionsbetweenfinancialcompaniescontrolledbytheCompanyandrelatedparties
□Applicable?NotapplicableTherewasnodeposit,loan,creditorotherfinancialbusinessbetweenfinancialcompaniescontrolledbytheCompanyandrelatedparties.
7.Othermajorrelatedtransactions
□Applicable?NotapplicableTheCompanyhadnoothermaterialrelated-partytransactionsduringtheReportingPeriod.
XV.Majorcontractsandtheirperformance
1.Trusteeship,contractingandlease
(1)Trusteeship
□Applicable?NotapplicableTheCompanyhadnotrusteeshipduringtheReportingPeriod.
(2)Contracting
□Applicable?NotapplicableTheCompanyhadnocontractingduringtheReportingPeriod.
(3)Lease?Applicable□NotapplicableSee"SectionsX,VII,82"oftheReportfordetails
2.Materialguarantee?Applicable□Notapplicable
Unit:RMBtenthousand
ExternalguaranteeoftheCompanyanditssubsidiaries(excludingguaranteeforsubsidiaries) | ||||||||||
Nameofguaranteeobject | Dateofdisclosureoftherelevantannouncementofguaranteeamountlimit | Guaranteeamountlimit | Actualdateofoccurrence | Actualamountguaranteed | Guaranteetype | Collateral(ifany) | Counterguarantee(ifany) | Guaranteeperiod | Whetheritwascompleted | Whethertheguaranteeobjectswererelatedparties |
GuaranteeoftheCompanytoitssubsidiaries | ||||||||||
Nameofguaranteeobject | Dateofdisclosureoftherelevantannouncementofguaranteeamountlimit | Guaranteeamountlimit | Actualdateofoccurrence | Actualamountguaranteed | Guaranteetype | Collateral(ifany) | Counterguarantee(ifany) | Guaranteeperiod | Whetheritwascompleted | Whethertheguaranteeobjectswererelatedparties |
NingboTopband | 2019/01/12/ | 19,000 | Jointliabilityguaranty | Thetentativeguaranteeperiodshallnotexceed5yearsfromthedateofsigningtheformalguaranteeagreement | No | No | ||||
NingboTopband | 2020/10/20/ | 22,000 | 2020/11/05/ | 22,000 | Jointliabilityguaranty | Thetentativeguaranteeperiodshallnotexceed5yearsfromthedateofsigningtheformalguaranteeagreement | No | No | ||
TotalamountofapprovedguaranteeforsubsidiariesattheendoftheReportingPeriod(B3) | 41,000 | TotalactualbalanceofguaranteeforsubsidiariesattheendoftheReportingPeriod(B4) | ||||||||
Guaranteeofthesubsidiarytoitssubsidiaries | ||||||||||
Nameofguaranteeobject | Dateofdisclosureoftherelevantannouncementofguaranteeamountlimit | Guaranteeamountlimit | Actualdateofoccurrence | Actualamountguaranteed | Guaranteetype | Collateral(ifany) | Counterguarantee(ifany) | Guaranteeperiod | Whetheritwascompleted | Whethertheguaranteeobjectswererelatedparties |
HuizhouYAKOAutomation | 2023/01/11 | 20,000 | 2023/01/16 | 2,146.2 | Jointliabilityguaranty | 3yearsfrommaturitydateofdebtsofguaranteedparties | No | No | ||
HuizhouYAKOAutomation | 2023/01/11 | 20,000 | 2023/04/24 | 858.48 | Jointliabilityguaranty | 3yearsfrommaturitydateofdebtsofguaranteedparties | No | No | ||
HuizhouYAKOAutomation | 2023/01/11 | 20,000 | 2023/06/29 | 1,430.8 | Jointliabilityguaranty | 3yearsfrommaturitydateofdebtsofguaranteed | No | No |
parties | |||||||||
HuizhouYAKOAutomation | 2023/01/11 | 20,000 | 2023/07/31 | 858.48 | Jointliabilityguaranty | 3yearsfrommaturitydateofdebtsofguaranteedparties | No | No | |
HuizhouYAKOAutomation | 2023/01/11 | 20,000 | 2023/08/29 | 1,273.22 | Jointliabilityguaranty | 3yearsfrommaturitydateofdebtsofguaranteedparties | No | No | |
TotalamountofguaranteeforsubsidiariesapprovedduringtheReportingPeriod(C1) | 20,000 | TotalactualamountofguaranteeforsubsidiariesduringtheReportingPeriod(C2) | 6,567.18 | ||||||
TotalamountofapprovedguaranteeforsubsidiariesattheendoftheReportingPeriod(C3) | 20,000 | TotalactualbalanceofguaranteeforsubsidiariesattheendoftheReportingPeriod(C4) | 6,567.18 | ||||||
Totalamountofthecorporateguarantee(i.e.thesumofthefirstthreeitems) | |||||||||
TotalamountofguaranteesapprovedintheReportingPeriod(A1+B1+C1) | 20,000 | TotalincurredamountofactualguaranteesprovidedintheReportingPeriod(A2+B2+C2) | 6,567.18 | ||||||
TotalamountofguaranteeapprovedattheendoftheReportingPeriod(A3+B3+C3) | 61,000 | TotalactualbalanceofguaranteeattheendoftheReportingPeriod(A4+B4+C4) | 6,567.18 | ||||||
Theproportionofthetotalactualamountofguarantee(A4+B4+C4)intheCompany'snetassets | 1.04% |
Note:1.ThebankloaninvolvedintheguaranteetheCompanyprovidedtoitssubsidiaryNingboTopbandhasbeenrepaid;howeverthebanklineisstillinthevalidperiod,andifaguaranteeemergesduetowithdrawalsunderthebankcreditlinelater,theCompanywillperformtherelatedobligationsforinformationdisclosureinatimelymanner.
2.Accordingtorelevantprovisionsin"3.SignificantguaranteesunderIII.Requirementsforinformationdisclosureinregularreports(V)"ofDisclosureofSignificantEventsintheSelf-regulatoryGuidefortheCompaniesListedontheShenzhenStockExchangeNo.1-BusinessProcessing,PartIV:4.1IssuesConcerningDisclosuresinRegularReports(Revisedin2023),the"Actualamountguaranteed"inthe"Guaranteeofthesubsidiarytoitssubsidiaries"shallbefilledwiththeproductoftheamountasubsidiaryguaranteedfortheguaranteedsubsidiarymultipliedbytheshareproportionofthelistedcompanyinthesubsidiary.ExplanationofdetailsofcomplexguaranteeNone.
3.Entrustingotherstomanagecashassets
(1)Entrustedfinancialmanagement?Applicable□NotapplicableOverviewofentrustedfinancialmanagementduringtheReportingPeriod
Unit:RMBtenthousand
Specifictypes | Capitalsourceofentrustedfinancing | Amountofentrustedfinancialmanagement | Unexpiredbalance | Overdueamountnotrecovered | Accruedimpairmentamountofoverdueandunrecoveredwealthmanagement |
Bankfinancialproducts | Self-owncapitals | 139,339.95 | 30,300.00 | 0 | 0 |
Bankfinancialproducts | Raisedcapitals | 24,000.00 | 0 | 0 | 0 |
Total | 163,339.95 | 30,300.00 | 0 | 0 |
Specificsituationofhigh-riskentrustedfinancialmanagementwiththesignificantsingleamountorlowsecurityandpoorliquidity
□Applicable?NotapplicableEntrustedfinancialmanagementwasexpectedtobeunabletorecovertheprincipalortherewereothersituationsthatmayleadtoimpairment
□Applicable?Notapplicable
(2)Entrustedloans
□Applicable?NotapplicableTheCompanyhadnoentrustedloansduringtheReportingPeriod.
4.Othersmajorcontracts
□Applicable?NotapplicableTherewerenoothersignificantcontractsintheReportingPeriodoftheCompany.
XVI.Explanationofothermajormatters?Applicable□Notapplicable
1.Circulatingofreleasedrestrictedsharesafterthefirstrestrictedstocktradeperiodof2021RestrictedStockIncentivePlanOnMarch29,2023,the32ndMeetingofthe7thBoardofDirectorsandthe27thMeetingofthe7thBoardofSupervisorsoftheCompanydeliberatedandpassedtheProposalonFulfillmentofRestrictedShareReleaseConditionsfor2021RestrictedStockIncentivePlanaftertheFirstRestrictedStockTradePeriod.9,351,936
sharesgrantedto1,109peopleunderthe2021IncentivePlancanbereleasedafterthefirstrestrictedstocktradeperiod,andthesharesreleasedhavebeenlistedandcirculatedonApril12,2023.RefertothenoticestheCompanydisclosedontheSecuritiesTimesandCNINFO(http://www.cninfo.com.cn)onMarch31,2023andApril7,2023respectivelyfordetails.
2.RepurchaseoftheCompanysharesOnOctober27,2023,the3rd(Extraordinary)Meetingofthe8thBoardofDirectorsoftheCompanydeliberatedandpassedtheProposalonthePlantoRepurchasetheCompany'sShares.TheCompanyintendedtouseitsownfundstorepurchasetheCompany'ssharesthroughcentralizedbiddingtransactions.ThetotalrepurchaseamountwasnotlessthanRMB40millionandnotmorethanRMB60million.TherepurchasepricedidnotexceedRMB15.00pershare(inclusive),andtheShareRepurchaseReportwasdisclosedonOctober30,2023.
DuringtheReportingPeriod,theCompanyaccumulativelyrepurchased6,266,600sharesthroughcentralizedbiddingwithRMB59,969,998.65intotal(excludingthetransactioncharge),accountingto0.49%ofthecurrenttotalsharecapitaloftheCompany,withthehighesttransactionpriceatRMB10.19/shareandthelowesttransactionpriceatRMB8.88/share.Therepurchaseplanwascompleted.Fordetails,pleaserefertotherelevantannouncementspublishedbytheCompanyonSecuritiesTimesandCNINFO(http://www.cninfo.com.cn)onOctober29,2023,October31,2023,November2,2023,December1,2023andDecember28,2023.
XVII.MajormattersofsubsidiariesoftheCompany
?Applicable□Notapplicable
1.InFebruary2023,HuizhouTopbandElectricalTechnologyCo.,Ltd.,awholly-ownedsubsidiaryoftheCompany,participatedinthecompetitiveauctionfortheuserightofastate-ownedconstructionlandorganizedviatheon-linelandandminingtradingsystemofHuizhouPublicResourcesTradingCenter,successfullyacquiredtheuserightofthelandlotconcerned,andsignedanAcknowledgmentofPublicTradingTransactionandaSalesContractforState-ownedConstructionLandUseRightwithHuizhouBureauofNaturalResourcesforthelanduserightoftotal19,590m
state-ownedconstructionland,amountingtoRMB18.57million.2.InMarch2023,NantongTopband,awholly-ownedsub-subsidiaryoftheCompany,participatedinthecompetitiveauctionfortheuserightofastate-ownedconstructionlandorganizedbyNantongBureauof
NaturalResourcesandPlanning,successfullyacquiredtheuserightofthelandlotconcerned,signedanAcknowledgmentofOn-lineTransactionofState-ownedConstructionLandandaNantongEconomicandTechnologicalDevelopmentAreaInvestmentandDevelopmentSupervisionAgreementandthenenteredintoaSalesContractforState-ownedConstructionLandUseRightwithNantongBureauofNaturalResourcesandPlanningwithinthespecifiedtimeforthelanduserightoftotal80,017.05m
state-ownedconstructionland,amountingtoRMB30.7265million.3.InJuly2023,ShenzhenTopbandBatteryCo.,Ltd.,awholly-ownedsubsidiaryoftheCompany,investedintheestablishmentofawholly-ownedsub-subsidiary,YolanessTechnology(HK)Co.,Limited,witharegisteredcapitalofUSD500,000;inOctober2023,YounengTechnology(HK)Co.,Ltd.investedintheestablishmentofawholly-ownedsub-subsidiary,YOLANESSAFRICA(PTY)LTD.
SectionVIIShareChangeandShareholdersI.Sharechange
1.Sharechange
Unit:Share
Beforechange | Increaseordecreaseofchangethistime(+,-) | Afterchange | |||||||
Number | Proportion | Issuanceofnewshares | Stockdividend | Conversionofaccumulationfundintoshares | Others | Subtotal | Number | Proportion | |
I.Shareswithnon-tradableconditions | 229,172,867 | 18.05% | -5,236,510 | -5,236,510 | 223,936,357 | 17.67% | |||
1.Sharesheldbythestate | 0.00% | 0.00% | |||||||
2.Sharesheldbystate-ownedlegalpersons | 0.00% | 0.00% | |||||||
3.Sharesheldbyotherdomesticcapital | 229,061,867 | 18.04% | -5,203,210 | -5,203,210 | 223,858,657 | 17.66% | |||
Including:sharesheldbydomesticlegalpersons | 0.00% | 0.00% | |||||||
Sharesheldbydomesticnaturalperson | 229,061,867 | 18.04% | -5,203,210 | -5,203,210 | 223,858,657 | 17.66% | |||
4.Sharesheldbyforeigninvestment | 111,000 | 0.01% | -33,300 | -33,300 | 77,700 | 0.01% | |||
Including:sharesheldbyoverseaslegalpersons | 0.00% | 0.00% | |||||||
Sharesheldbyoverseasnaturalpersons | 111,000 | 0.01% | -33,300 | -33,300 | 77,700 | 0.01% | |||
II.Shareswithunlimitedtradableconditions | 1,040,362,505 | 81.95% | 3,303,250 | 3,303,250 | 1,043,665,755 | 82.33% | |||
1.Ashares | 1,040,362,505 | 81.95% | 3,303,250 | 3,303,250 | 1,043,665,755 | 82.33% | |||
2.Domesticlistedforeignshares | 0.00% | 0.00% | |||||||
3.Overseaslistedforeignshares | 0.00% | 0.00% | |||||||
4.Others | 0.00% | 0.00% | |||||||
III.Totalnumberofshares | 1,269,535,372 | 100.00% | -1,933,260 | -1,933,260 | 1,267,602,112 | 100.00% |
Note:ThetotalnumberofsharesattheendoftheReportingPeriodincludesrestrictedsharesthatwerealreadydeliberatedforrepurchaseandcancellationbutwerenotrepurchasedandcancelledyet.Reasonsforsharechange?Applicable□Notapplicable
ThechangeintheCompany'ssharecapitalduringtheReportingPeriodwascausedbytherepurchaseandcancellationof1,933,260restrictedshares.Approvalofsharechange?Applicable□NotapplicableTheCompanyperformedthefollowingdecision-makingproceduresontherepurchaseandcancellationofrestrictedshares:
OnMarch29,2023,the32ndMeetingofthe7thBoardofDirectorsandthe27thMeetingofthe7thBoardofSupervisors,deliberatedandpassedtheProposalonFulfillmentofRestrictedShareReleaseConditionsfor2021RestrictedStockIncentivePlanaftertheFirstRestrictedStockTradePeriodandProposalonRepurchaseandCancellationofSomeRestrictedStocksfromRestrictedStockIncentivePlanin2021.9,351,936sharesgrantedto1,109peopleunderthe2021IncentivePlancanbereleasedafterthefirstrestrictedstocktradeperiod.AccordingtotheexaminationandconfirmationofShenzhenBranchofChinaSecuritiesDepositoryandClearingCo.,Ltd.,theshareswerelistedandcirculatedonApril12,2023.Meanwhile,39people,includingLiChaoyi,WangCaihuiandDingBo,resignedandlefttheCompanyduetopersonalreasons,andfourofthegrantees,includingTangYingjieandShiWenhui,oftheincentiveplanachieveda"Good"or"OK"levelintheperformanceappraisal,resultedinthereleaseof80%oftherestrictedstock.Itwasapprovedtorepurchaseandderegisteratotalof870,660restrictedsharesformerlyownedbytheabove43peoplethatshallnotbereleased.AnindependentdirectoroftheCompanygivenhisindependentopinionfortheapproval,andthelawfirmissuedthecorrespondinglegalopinion.
OnApril25,2023,theCompanyheldthe33rdMeetingofthe7thBoardofDirectorsandthe28thMeetingofthe7thBoardofSupervisors,anddeliberatedandpassedtheProposalonAdjustingtheRepurchasePriceintheRestrictedStockIncentivePlanfor2021.TheCompanyimplementedtheannualequitydistributionin2022.TherepurchasepricewasadjustedfromRMB7.18persharetoRMB7.12pershareaccordingly.
OnSeptember7,2023,theCompanyheldthe37th(Extraordinary)Meetingofthe7thBoardofDirectorsandthe30thMeetingofthe7thBoardofSupervisors,deliberatedandpassedtheProposalontheProposalonRepurchaseandCancellationofSomeRestrictedStocksfromRestrictedStockIncentivePlanfor2021,andagreedtorepurchaseandcancel1,062,600restrictedstocksthathadbeengrantedbutnotyetunlockedof65incentiveobjects,includingWangLinandSunLiangquanintherestrictedstockincentiveplanfor2021,whoresignedfromtheCompanyduetopersonalreasons.Theabovemattershadbeendeliberatedandpassedbythe2ndExtraordinaryGeneralMeetingofShareholdersin2023.
AsofNovember16,2023,afterreviewandconfirmationbytheShenzhenBranchofChinaSecuritiesDepositoryandClearingCo.,Ltd.,therepurchaseandcancellationof1,933,260restrictedsharesof104formeremployeesincludingLiChaoyi,WangCaizhi,DingBo,and4employeesincludingTangYingjieandShiWenhui(resigned)whowereunabletoreleasetherestrictiononsaleduetothefirst-periodperformanceappraisalwerecompleted.Thenumberofincentiveobjectsin2021RestrictedStockIncentivePlanreducedfrom1,148to1,044,andthegeneralcapitalreducedfrom1,269,535,372sharesto1,267,602,112shares.OnDecember1,2023,theCompanyheldthe4th(Extraordinary)Meetingofthe8thBoardofDirectorsandthe3rd(Extraordinary)Meetingofthe8thBoardofSupervisors,deliberatedandpassedtheProposalonTerminatingtheImplementationoftheRestrictedStockIncentivePlanfor2021andRepurchasingandCancellingRestrictedStocks,andagreedtorepurchaseandcancel270,900restrictedshareswhichhadbeengrantedto20incentiveobjects(includingShenHaibingandWangSifu)resignedduetopersonalreasonsbutwhoserightshadnotbeenexercisedbythematapriceofRMB7.12pershare;andagreedtorepurchaseandcancel20,496,224restrictedshareswhichhadbeengrantedto1,024in-serviceincentiveobjectsbutwhosesalesrestrictionhadnotbeenliftedatapriceofRMB7.35pershare(generatedafterrounding,withthepaymentsubjecttoactualcalculation).Theabovemattershadbeendeliberatedandpassedonthe3rdExtraordinaryGeneralMeetingofShareholdersin2023.AsoftheendoftheReportingPeriod,thesharestoberepurchasedandcancelledhadnotbeenderegisteredyetatShenzhenBranchofChinaSecuritiesDepositoryandClearingCo.,Ltd.Transferofsharechange
□Applicable?Notapplicable
Theimpactofsharechangesonfinancialindicatorssuchasbasicearningspershareanddilutedearningspershareinthelatestyearandthelatestperiod,netassetspershareattributabletoordinaryshareholdersoftheCompany,etc.
?Applicable□Notapplicable
Fortheimpactofchangesinshareholdingonfinancialindicatorssuchasthebasicearningspershare,dilutedearningspershare,andnetassetspershareattributabletoordinaryshareholdersoftheCompanyinthelastyearandthemostrecentperiod,pleaserefertoSectionXFinancialReport–XX.SupplementaryInformation-2.ReturnonnetassetsandearningspershareinthisAnnouncement.
OthercontentsdeemednecessarybytheCompanyorrequiredtobedisclosedbythesecuritiesregulatory
institution
□Applicable?Notapplicable
2.Changesinnon-tradableshares
?Applicable□Notapplicable
Unit:Share
Nameofshareholder | Numberofnon-tradablesharesatthebeginningoftheperiod | Increasenumberofnon-tradablesharesinthecurrentperiod | Desterilizationnumberofnon-tradablesharesinthecurrentperiod | Numberofnon-tradablesharesattheendoftheperiod | Reasonsfornon-trading | Dateofliftingsalesrestriction |
WuYongqiang | 160,336,536 | 0 | 1,330,000 | 159,006,536 | Executiveslock-inshares | Notapplicable |
JiShuhai | 20,488,981 | 6,829,661 | 27,318,642 | Executiveslock-inshares | Notapplicable | |
MaWei | 6,713,200 | 184,800 | 184,800 | 6,713,200 | Executiveslock-inshares | Notapplicable |
PengGanquan | 3,852,674 | 120,000 | 120,000 | 3,852,674 | Executiveslock-inshares | Notapplicable |
ZhengSibin | 4,752,727 | 159,900 | 159,900 | 4,752,727 | Executiveslock-inshares | Notapplicable |
WenZhaohui | 2,078,345 | 54,900 | 54,900 | 2,078,345 | Executiveslock-inshares | Notapplicable |
DaiHuijuan | 239,709 | 0 | 239,709 | Executiveslock-inshares | Notapplicable | |
XiangWei | 573,375 | 54,900 | 210,975 | 417,300 | Executiveslock-inshares | Notapplicable |
LuoMuchen | 50,000 | 2,500 | 15,000 | 37,500 | Executiveslock-inshares | Notapplicable |
Incentiveobjectsofrestrictedstockincentiveplan | 30,087,320 | 0 | 10,567,596 | 19,519,724 | Stock-option-incentiverestrictedstocks | Theratioatwhichthesalesrestrictionisliftedis30%for2023,30%for2024and40%for2025;theshareswhosesalesrestrictionwasliftedinthisperiodaretherestrictedshareswhichwereunlockedandwhichwererepurchasedfromformeremployeesandcancelledin2023. |
Total | 229,172,867 | 7,406,661 | 12,643,171 | 223,936,357 | -- | -- |
Note:ThesalesrestrictiononMr.WuYongqiang's1.33millionshareswasliftedinthisperiod,whichwascausedbythefactthatthetransferablequotawasnottransferredoutsimultaneouslyduringthetransferofsharescustodyin2022andthesalesrestrictionwasliftedautomaticallyafterthetransferablequotaoftheaccountwasrecalculatedin2023.
II.Issuanceandlistingofsecurities
1.Issuanceofsecurities(excludingpreferredshares)duringtheReportingPeriod
□Applicable?Notapplicable
2.ExplanationofchangesintheCompany'stotalnumberofsharesandshareholderstructureandchangesintheCompany'sstructureofassetsandliabilities?Applicable□Notapplicable
1.Changesinthetotalnumberofsharesandshareholderstructure:
DuringtheReportingPeriod,1,933,260restrictedshareswererepurchasedandcancelled,resultinginadecreaseof1,933,260sharesintheCompany'stotalsharecapital,from1,269,535,372sharesto1,267,602,112shares.
2.ChangesintheCompany'sstructureofassetsandliabilitiesAsoftheendoftheperiod,thetotalsharecapitaloftheCompanywas1,267,602,112shares,andthetotalcorporateassetsattheendof2023wereRMB11,184,119,392.80,withanassets-liabilitiesratioof43.05%.
3.Existinginternalemployeeshares
□Applicable?Notapplicable
III.Shareholdersandactualcontrollers
1.NumberofshareholdersandshareholdingsituationoftheCompany
Unit:Share
TotalnumberofordinaryshareholdersattheendoftheReportingPeriod | 94,836 | Totalnumberofordinaryshareholdersattheendofthepreviousmonthbeforethedisclosuredateoftheannualreport | 95,338 | TotalnumberofpreferredshareholderswithvotingrightsrestoredattheendoftheReportingPeriod(ifany)(seeNote8) | 0 | Thetotalnumberofpreferredshareholderswhosevotingrightswererestoredattheendofthepreviousmonthbeforethedisclosuredateoftheannualreport(ifany)(seeNote8) | 0 |
Shareholdingsituationofshareholdersholdingmorethan5%ofthesharesortop10shareholders(excludingshareslentthroughrefinancing) | ||||||||
Nameofshareholder | Natureofshareholders | Proportionofshareholding | NumberofsharesheldattheendoftheReportingPeriod | ChangesinincreaseordecreaseintheReportingPeriod | Numberofshareswithlimitedtradableconditions | Numberofshareswithunlimitedtradableconditions | Pledge,markingorfreezing | |
Sharestatus | Number | |||||||
WuYongqiang | Domesticnaturalperson | 16.73% | 212,008,715 | 0 | 159,006,536 | 53,002,179 | Pledge | 38,860,000 |
JiShuhai | Domesticnaturalperson | 2.16% | 27,318,642 | 0 | 27,318,642 | 0 | Notapplicable | |
HongKongSecuritiesClearingCompanyLtd. | Overseaslegalperson | 0.02% | 23,439,401 | -15,496,542 | 0 | 23,439,401 | Notapplicable | |
XieRenguo | Domesticnaturalperson | 1.66% | 21,100,988 | -1,877,400 | 0 | 21,100,988 | Notapplicable | |
AMCM-self-ownfunds | Overseaslegalperson | 1.42% | 18,039,806 | 10,337,380 | 0 | 18,039,806 | Notapplicable | |
KuwaitInvestmentAuthority | Overseaslegalperson | 1.34% | 17,038,293 | 12,871,643 | 0 | 17,038,293 | Notapplicable | |
DajiaLifeInsuranceCo.,Ltd.-UniversalProduct | Others | 0.77% | 9,736,600 | -3,191,200 | 0 | 9,736,600 | Notapplicable | |
MaWei | Domesticnaturalperson | 0.71% | 8,950,934 | 0 | 6,713,200 | 2,237,734 | Notapplicable | |
DongguanHeliosIndustryCo.,Ltd. | Domesticnon-state-ownedlegalperson | 0.66% | 8,376,400 | 5,402,600 | 0 | 8,376,400 | Notapplicable | |
IndustrialBankCo.,Ltd.-FullgoalXingyuanSelect12-monthPeriodHybridSecuritiesInvestmentFund | Others | 0.66% | 8,356,273 | 8,356,273 | 0 | 8,356,273 | Notapplicable | |
Thetop10shareholdersofstrategicinvestorsorgenerallegalpersonsduetoplacementofnewshares(ifany)(seeNote3) | Notapplicable | |||||||
Explanationoftheaboveshareholders'relationshiporconcertedaction | Notapplicable | |||||||
Explanationoftheaboveshareholders'entrusting/entrustedvotingrightsandwaiverofvotingrights | Notapplicable |
Specialexplanationsfortheexistenceofspecialrepurchaseaccountsamongthetop10shareholders(ifany)(seeNote10) | TheCompany'sspecialrepurchaseaccountisthespecialsecuritiesrepurchaseaccountofShenzhenTopbandCo.,Ltd.TheCompanyrepurchasedatotalof11,447,800sharesbycentralizedbidtradingthroughthespecialsecuritiesrepurchaseaccount,accountingfor0.90%oftheCompany'scurrenttotalissuedsharecapital. | ||
Shareholdingofthetop10shareholderswithunlimitedtradableconditions | |||
Nameofshareholder | NumberofsharesheldwithunlimitedtradableconditionsattheendoftheReportingPeriod | Typeofshares | |
Typeofshares | Number | ||
WuYongqiang | 53,002,179 | Ashares | 53,002,179 |
HongKongSecuritiesClearingCompanyLtd. | 23,439,401 | Ashares | 23,439,401 |
XieRenguo | 21,100,988 | Ashares | 21,100,988 |
AMCM-self-ownfunds | 18,039,806 | Ashares | 18,039,806 |
KuwaitInvestmentAuthority | 17,038,293 | Ashares | 17,038,293 |
DajiaLifeInsuranceCo.,Ltd.-UniversalProduct | 9,736,600 | Ashares | 9,736,600 |
DongguanHeliosIndustryCo.,Ltd. | 8,376,400 | Ashares | 8,376,400 |
IndustrialBankCo.,Ltd.-FullgoalXingyuanSelect12-monthPeriodHybridSecuritiesInvestmentFund | 8,356,273 | Ashares | 8,356,273 |
ZhongMingyu | 8,020,857 | Ashares | 8,020,857 |
NewChinaLifeInsuranceCo.,Ltd.-Traditional-GeneralInsuranceProduct-018L-CT001Shenzhen | 7,348,000 | Ashares | 7,348,000 |
Explanationoftherelationshiporconcertedactionbetweenthetop10shareholderswithunlimitedtradableconditionsandbetweenthetop10shareholderswithunlimitedtradableconditionsandthetop10shareholders | Notapplicable | ||
Explanationoftheparticipationofthetop10ordinaryshareholdersinsecuritiesmargintrading(ifany)(seeNote4) | ShareholderMr.XieRenguoholds15,268,703sharesthroughthecreditsecuritiesaccount. |
Participationoftoptenshareholdersinlendingofsharesthroughrefinancingbusiness?Applicable□Notapplicable
Unit:Share
Participationoftoptenshareholdersinlendingofsharesthroughrefinancing | ||||||||
Nameofshareholder(fullname) | Sharesheldthroughtheordinaryaccountandcreditaccountatthebeginningoftheperiod | Shareslentthroughrefinancingbutnotreturnedatthebeginningoftheperiod | Sharesheldthroughtheordinaryaccountandcreditaccountattheendoftheperiod | Shareslentthroughrefinancingbutnotreturnedattheendoftheperiod | ||||
Total | Proportioninthetotalsharecapital | Total | Proportioninthetotalsharecapital | Total | Proportioninthetotalsharecapital | Total | Proportioninthetotalsharecapital |
AMCM-self-ownfunds | 7,702,426 | 0.74% | 0 | 0.00% | 18,039,806 | 1.73% | 876,200 | 0.08% |
Changesintoptenshareholderscomparedwiththepreviousperiod?Applicable□Notapplicable
Unit:Share
Changesintoptenshareholderscomparedwiththeendofthepreviousperiod | |||||
Nameofshareholder(fullname) | Newlyadded/removedshareholdersduringtheReportingPeriod | Numberofshareslentthroughrefinancingbutnotreturnedattheendoftheperiod | Numberofsharesheldthroughshareholder'sordinaryaccountandcreditaccountandshareslentthroughrefinancingandnotreturnedattheendoftheperiod | ||
Total | Proportioninthetotalsharecapital | Total | Proportioninthetotalsharecapital | ||
OrientSecuritiesCo.,Ltd.-ZhonggengValuePioneerStockSecuritiesInvestmentFund | Removed | 0 | 0.00% | 0 | 0.00% |
BasicEndowmentInsuranceFund1206Portfolio | Removed | 0 | 0.00% | 0 | 0.00% |
ChinaInternationalCapitalCorporationLimited-ChinaConstructionBank-CICCEmergingEquityCollectiveAssetManagementPlan | Removed | 0 | 0.00% | 0 | 0.00% |
KuwaitInvestmentAuthority | Newlyadded | 0 | 0.00% | 17,038,293 | 1.34% |
DongguanHeliosIndustryCo.,Ltd. | Newlyadded | 0 | 0.00% | 8,376,400 | 0.66% |
IndustrialBankCo.,Ltd.-FullgoalXingyuanSelect12-monthPeriodHybridSecuritiesInvestmentFund | Newlyadded | 0 | 0.00% | 8,356,273 | 0.66% |
Didthetop10ordinaryshareholdersandthetop10ordinaryshareholderswithunlimitedsalesconditionsconducttheagreedrepurchasetransactionsduringtheReportingPeriod
□Yes?NoThetop10ordinaryshareholdersandthetop10ordinaryshareholderswithunlimitedsalesconditionsdidnotconducttheagreedrepurchasetransactionsduringtheReportingPeriod
2.ControllingshareholderoftheCompanyNatureofcontrollingshareholder:controlledbynaturalpersonTypeofcontrollingshareholder:naturalperson
Nameofcontrollingshareholder | Nationality | Obtainedtherightofresidenceinanothercountryorregion |
WuYongqiang | China | No |
Mainoccupationandposition | ServedastheChairmanandPresidentofShenzhenTopbandCo.,Ltd.since2009 | |
Equityinformationonotherdomesticandforeignlistedcompaniescontrolledorinvested | None |
ChangeofcontrollingshareholdersduringtheReportingPeriod
□Applicable?NotapplicableThecontrollingshareholderoftheCompanydidnotchangeduringtheReportingPeriod.
3.TheCompany'sactualcontrolleranditspersonactinginconcertNatureofactualcontroller:domesticnaturalpersonTypeofactualcontroller:naturalperson
inbyhimduringtheReportingPeriod
Nameofactualcontroller
Nameofactualcontroller | Relationshipwithactualcontroller | Nationality | Obtainedtherightofresidenceinanothercountryorregion |
WuYongqiang | Inperson | China | No |
Mainoccupationandposition | ServedastheChairmanandPresidentofShenzhenTopbandCo.,Ltd.since2009 | ||
Informationondomesticandforeignlistedcompaniescontrolledbyhiminthepast10years | None |
ChangeofactualcontrollerduringtheReportingPeriod
□Applicable?NotapplicableTheactualcontrolleroftheCompanydidnotchangeduringtheReportingPeriod.BlockDiagramofPropertyRightsandControlRelationshipbetweentheCompanyandtheActualController
TheactualcontrollercontrolstheCompanybymeansoftrustorotherwaysofassetsmanagement
□Applicable?Notapplicable
4.Thecumulativenumberofpledgedsharesheldbythecontrollingshareholderorthelargestshareholderanditspersonsactinginconcertaccountsfor80%ofthetotalnumberofsharesheldbythemintheCompany
□Applicable?Notapplicable
WuYongqiang
ShenzhenTopbandCo.,Ltd.
5.Otherinstitutionalshareholdersholdingover10%oftheshares
□Applicable?Notapplicable
6.Restrictionsonthereductionofsharesheldbythecontrollingshareholder,theactualcontroller,thereorganizerandothercommitmententities
□Applicable?Notapplicable
IV.SpecificimplementationofsharerepurchaseduringtheReportingPeriod
Implementationprogressofsharerepurchase?Applicable□Notapplicable
Schemedisclosuretime | Numberofsharestoberepurchased(shares) | Proportioninthetotalsharecapital | Amountofsharestoberepurchased(RMBtenthousand) | Proposedrepurchaseperiod | Repurchasepurpose | Numberofsharesrepurchased(shares) | Proportionofrepurchasedsharestounderlyingstocksinvolvedintheequityincentiveplan(ifany) |
2023/10/30/ | 2,666,700-4,000,000 | 0.2121%-0.3151% | 4,000-6,000 | 2023/10/27-2024/10/26 | Therepurchasedcompanysharesareallusedtoimplementequityincentivesoremployeestockownershipplansforcoreemployees.IftheCompanyfailstoimplementtheaforementionedpurposeswithin36monthsafterthecompletionofthesharerepurchase,oriftherepurchasedsharesarenotfullyusedfortheaforementionedpurposes,theunusedportionwillbecanceledinaccordancewiththelaw. | 6,266,600 | 0.00% |
Progressintheimplementationofthereductionofsharerepurchasethroughcentralizedbidtrading
□Applicable?Notapplicable
SectionVIIIInformationonPreferredShares
□Applicable?NotapplicableTheCompanydidnothavepreferredsharesduringtheReportingPeriod.
SectionIXRelevantInformationofBonds
□Applicable?Notapplicable
SectionXFinancialReportI.Auditreport
Typeofauditopinion | Standardunqualifiedopinion |
Dateofsigningtheauditreport | March25,2024 |
Nameofauditinstitution | BAKERTILLYInternationalAccountingFirm(SpecialGeneralPartnership) |
Documentnumberofauditreport | TZYZ[2024]No.11572 |
Nameofcertifiedpublicaccountant | ChenZhigang,ZhaoYang,LiuZhaoyu |
Textofauditreport
TZYZ[2024]No.11572AllshareholdersofShenzhenTopbandCo.,Ltd.:
I.AuditOpinionWehaveauditedthefinancialstatementsofShenzhenTopbandCo.,Ltd.(hereinafterreferredtoas"Topband"),includingtheconsolidatedandparentcompanybalancesheetasofDecember31,2023,andtheconsolidatedandparentcompanyincomestatement,theconsolidatedandparentcompanycashflowstatement,andtheconsolidatedandparentcompanystatementofchangeinshareholderequityof2023,aswellasrelatednotestothefinancialstatements.Inouropinions,theattachedfinancialstatementshavebeenpreparedinaccordancewiththeAccountingStandardsforBusinessEnterprisesinallsignificantaspects,andgivenfairviewsontheconsolidatedandparentcompanyfinancialpositionsofTopbandasofDecember31,2023,andtheconsolidatedandparentcompanyoperatingresultsaswellascashflowof2023.II.Basisfortheformationofauditopinions
WehavecarriedoutauditincompliancewithAuditingStandardsforCertifiedPublicAccountantsofChina.Ourresponsibilityunderthesestandardsisfurtherdescribedin"CertifiedPublicAccountants'ResponsibilityfortheFinancialStatements"intheauditreport.InaccordancewiththeChinaCodeofEthicsforCertifiedPublicAccountants,weareindependentofTopbandandhaveperformedotherresponsibilitiesinprofessionalethics.Webelievethattheauditevidenceobtainedbyusissufficientandappropriateandhasprovidedabasisfortheexpressionofourauditopinion.
III.KeyAuditMatters
Thekeyitemsforauditareitemsthatweconsiderthemostimportantfortheauditofthefinancialstatementsofthecurrentperiodaccordingtotheprofessionaljudgment.Theresponseoftheseitemsisbasedonanauditoftheoverallfinancialstatementsandtheformationofauditopinions,andwedonotindividuallyexpressviewsontheseitems.
KeyAuditMatter | Howisthematterhandledintheaudit |
1.Revenuerecognition | |
In2023,theoperatingincomeofTopbandwasRMB8,992.3422million.ConsideringthatoperatingincomeisakeyoperatingindicatorofTopband,theremaybepotentialmisstatementsinwhetherthesalesrevenueofproductsisincludedintheappropriateaccountingperiod.Therefore,wetaketherecognitionofoperatingincomeasakeyauditmatter.Pleaserefertothenotestothefinancialstatements:"(XXVIII)Revenue"of"III.Importantaccountingpoliciesandestimates","(XLI)Operatingincomeandcost"of"VI.Notestomainitemsofconsolidatedfinancialstatements",and"(IV)Operatingincomeandcost"of"XVIII.Notestoitemsoffinancialstatementsoftheparentcompany". | Themainauditprocedureswehavecarriedoutforrevenuerecognitioninclude,butarenotlimitedtothefollowing:(1)Understand,evaluateandtesttheeffectivenessofinternalcontroldesignandoperationrelatedtosalesandcollectionofTopband;(2)Understandrevenuerecognitionpoliciesthroughinterviewswithmanagement,examinerelevantclausesofmajorcustomercontracts,analyzeandevaluatewhethertheactualrevenuerecognitionpoliciesareappropriate,andreviewwhetherrelevantaccountingpoliciesareconsistentlyapplied;(3)Queryandunderstandthebackgroundinformationofmajorcustomersornewcustomersthroughpublicchannels,suchasbusinessregistrationmaterials,andconfirmwhethertherearepotentialunrecognizedrelatedpartyrelationshipsbetweenmajorcustomersandTopbandandrelatedparties;(4)Analyzetherationalityofchangesinthesalesstructureofmainproducts,andthegrossprofitmarginchangesofmainproductsandcustomerscomparedwiththegrossprofitmarginofthesameperiodinhistoryandthesameindustry,andreviewtherationalityofsalesrevenue;(5)Auditandconfirmthebalanceofaccountsreceivableofmajorcustomersbyletteraccordingtoaccountsreceivable,andperformalternativetestsoncustomerswhohavenotrespondedtotheletter;(6)Selectsamples,checktherelevantdocumentsofsalesrevenuetransactions,suchassalescontracts(orders),deliverynotes,receipts(warehousereceipts),customsdeclarations,accountstatements,andsalesinvoices,andverifywhethertheconfirmedsalesrevenueistrue;(7)Selectsamplesfromthesalesrevenuetransactionsrecordedbeforeandafterthebalancesheetdate,checksupportingvouchersforrevenuerecognitionundereachmodel,andassesswhetherthesalesrevenueisrecordedinanappropriateaccountingperiod. |
2.Impairmentofaccountsreceivable |
KeyAuditMatter | Howisthematterhandledintheaudit |
Attheendof2023,thebookvalueofaccountsreceivableofTopbandwasRMB2,431.7739million.Duetothelargebookvalueofaccountsreceivable,theevaluationofbaddebtreservesinvolvessignificantaccountingestimatesandjudgmentsbymanagement.Therefore,wetakebaddebtreservesforaccountsreceivableasakeyauditmatter.Pleaserefertothenotestothefinancialstatements:"(XII)Accountsreceivable"of"III.Importantaccountingpoliciesandestimates","(IV)Accountsreceivable"of"VI.Notestomainitemsofconsolidatedfinancialstatements",and"(I)Accountsreceivable"of"XVIII.Notestoitemsoffinancialstatementsoftheparentcompany". | Themainauditprocedureswehavecarriedoutfortheimpairmentofaccountsreceivableinclude,butarenotlimitedtothefollowing:(1)Understand,evaluateandtesttheeffectivenessofinternalcontroldesignandoperationrelatedtoTopbandcreditpolicyandaccountsreceivablemanagement;(2)Analyzetherationalityoftheaccountingpoliciesforaccrualofbaddebtreservesforaccountsreceivable,includingthebasisfordeterminingtheportfolioofaccountsreceivable,expectedcreditlossrate,judgmentofsignificantindividualamounts,judgmentofindividualaccrualofbaddebtreserves,andreviewwhethertheycomplywithrelevantaccountingpolicies;(3)Obtainaccountsreceivableaginganalysistableandbaddebtprovisiontable,analyzeandchecktherationalityandaccuracyofaccountsreceivableagingdivisionandbaddebtprovision;(4)Analyzeandcalculatetheratiobetweentheamountofbaddebtreservesonthebalancesheetdateandthebalanceofaccountsreceivable,comparetheamountofbaddebtreservesaccruedinthepreviousperiodwiththeactualamountincurred,andanalyzewhethertheaccrualofbaddebtreservesforaccountsreceivableissufficient;(5)Analyzetherationalityofthescaleofaccountsreceivableformajorcustomersbasedonthecreditperiodofaccountsreceivable,understandthereasonablereasonsforaccountsreceivablebeyondthecreditperiod,andidentifywhetherthereareanysituationsthataffecttheevaluationresultsofbaddebtreservesforaccountsreceivableofTopband. |
IV.Otherinformation
Topband'smanagement(hereinafterreferredtoas"management")isresponsibleforotherinformation.Otherinformationincludestheinformationcoveredintheannualreportfor2023,butdoesnotincludefinancialstatementsandourauditreports.Wedonotcoverotherinformationintheauditopinionsissuedforthefinancialstatements,nordowehaveanyformofattestationconclusionsonotherinformation.
Inconjunctionwithourauditofthefinancialstatements,ourresponsibilityistoreadotherinformation,andinthisprocess,considerwhetherotherinformationismateriallyinconsistentwiththefinancialstatementsorwhatwehavelearnedintheauditprocessoritappearstobesignificantmisstatement.Basedontheworkwehavecarriedout,weshallreportthefactifwedeterminetheexistenceofasignificantmisstatementinotherinformation.Wehavenothingtoreportinthisregard.
V.Responsibilityofthemanagementandthegovernancetothefinancialstatements
ThemanagementisresponsibleforpreparingthefinancialstatementsinaccordancewiththeprovisionsoftheAccountingStandardsforBusinessEnterprisestomakeitfairreflection,thendesigning,implementingandmaintainingthenecessaryinternalcontrolssothatthefinancialstatementsdonothaveanysignificantmisstatementresultingfromfraudorerror.
Whenthefinancialstatementswereprepared,themanagementwasresponsibleforassessingTopband'sabilitytocontinueasagoingconcern,disclosingthemattersrelatedtothegoingconcern(ifapplicable)andapplyingthegoingconcernassumptionunlessthemanagementplannedtoconductliquidation,terminatedoperationorhadnootherpracticaloption.
ThegovernancelevelisresponsibleforoverseeingthefinancialreportingprocessofTopband.
VI.Certifiedpublicaccountant'sresponsibilityforauditoffinancialstatements
Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholearefreefrommaterialmisstatement,whetherduetofraudorerror,andtoissueanauditreportthatincludesouropinion.Reasonableassuranceisahighlevelofassurance,butisnotaguaranteethatanauditconductedinaccordancewiththeauditstandardswillalwaysdetectamaterialmisstatementwhenitexists.Misstatementscanarisefromfraudorerrorandareconsideredmaterialif,individuallyorintheaggregate,theycouldreasonablybeexpectedtoinfluencetheeconomicdecisionsofuserstakenonthebasisofthesefinancialstatements.
Aspartofanauditinaccordancewiththeauditsstandards,weexerciseprofessionaljudgmentandmaintainprofessionalscepticismthroughouttheaudit.Meanwhile,wealsoexecutethefollowingworks:
(1)Identifyandassesstherisksofmaterialmisstatementofthefinancialstatements,whetherduetofraudorerror,designandperformauditproceduresresponsivetothoserisks,andobtainauditevidencethatissufficientandappropriatetoprovideabasisforouropinion.Sincefraudmayinvolvecollusion,forgery,intentionalomission,falserepresentationornotbesubjecttointernalcontrol,theriskoffailuretofindthesignificantmisstatementduetofraudishigherthantheriskoffailuretofindamajormisstatementduetoerrors.
(2)Understandinternalcontrolsrelatedtotheauditinordertodesignappropriateauditprocedures.
(3)Evaluatetheappropriatenessofaccountingpoliciesusedandthereasonablenessofaccountingestimatesandrelateddisclosuresmadebymanagement.
(4)Concludeontheappropriatenessofusingthegoingconcernassumptionbymanagement.Atthesametime,onthebasisoftheacquiredauditevidence,makeaconclusionwhetherthereisasignificantuncertaintyin
mattersorcircumstancesthatcausesignificantdoubtsaboutconstantoperationalcapacityofTopband.Ifwecometotheconclusionthattherearesignificantuncertainties,theauditguidelinesrequirethatwedrawtheattentionofthereportuserstotherelevantdisclosuresinthefinancialstatementsintheauditreport;ifthedisclosureisnotsufficient,weshallissueamodifiedauditreport.Ourconclusionisbasedontheinformationthatwasavailableasofthedateoftheauditreport.However,futureeventsorconditionsmaycauseTopbandtodiscontinueoperation.
(5)Evaluatetheoverallpresentation,structureandcontentofthefinancialstatementsandwhetherthefinancialstatementsrepresenttheunderlyingtransactionsandeventsinamannerthatachievesfairpresentation.
(6)ObtainsufficientandappropriateauditevidenceonthefinancialinformationofentitiesorbusinessactivitiesunderTopbandtomakeanauditopiniononthefinancialstatements.Weareresponsibleforguiding,supervisingandimplementingtheCompany'sauditandbearfullresponsibilityfortheauditopinion.
Wecommunicatewiththegovernanceregardingtheplannedscopeandtimingoftheaudit,significantauditfindingsandothermatters,includinganynotabledeficienciesininternalcontrolthatweidentifyduringaudit.
Wealsoprovideastatementtothegovernancelevelregardingcompliancewiththeindependence-relatedprofessionalethicsrequirementsandcommunicatewiththegovernancelevelonalltherelationshipsandothermattersthatmayreasonablybeconsideredtoaffectourindependence,aswellasrelevantpreventivemeasures.
Amongitemsdiscussedwiththegovernancelevel,wedeterminethoseitemsmostimportanttotheauditofthefinancialstatementsofthecurrentperiodandconstituteakeyitemforaudit.Wedescribetheseitemsintheauditreportunlesslawsandregulationsprohibitthedisclosureoftheseitems,orinrarecases,thenegativeconsequencesofcommunicatinganitemintheauditreportarebeyondthebenefitsofpublicinterest,wedeterminethattheitemshallnotbecommunicatedintheauditreport.
II.FinancialStatementsTheunitofstatementsinthefinancialnotesis:RMB
1.ConsolidatedBalanceSheet
Preparedby:ShenzhenTopbandCo.,Ltd.
December31,2023
Unit:RMB
Items | December31,2023 | January1,2023 |
Currentassets: | ||
Monetarycapital | 1,550,450,889.82 | 1,403,026,071.34 |
Settlementofprovisions | ||
Lendingfunds | ||
Tradablefinancialassets | 656,704,087.16 | 342,959,450.31 |
Derivativefinancialassets | ||
Notesreceivable | 54,198,392.53 | 51,791,758.90 |
Accountsreceivable | 2,431,773,877.56 | 2,549,734,039.66 |
Financingofaccountsreceivable | 278,520,642.22 | 254,988,202.60 |
Prepayments | 44,088,068.53 | 53,005,656.95 |
Premiumsreceivable | ||
Reinsuranceaccountsreceivable | ||
Reinsurancecontractreservesreceivable | ||
Otherreceivables | 36,524,343.36 | 77,743,150.98 |
Including:interestreceivable | ||
Dividendsreceivable | ||
Repurchaseoffinancialassetsforresale | ||
Inventory | 1,653,816,715.51 | 1,992,952,212.53 |
Contractassets | ||
Assetsheldforsale | ||
Non-currentassetsduewithinoneyear | ||
Othercurrentassets | 213,212,927.49 | 155,126,777.31 |
Totalcurrentassets | 6,919,289,944.18 | 6,881,327,320.58 |
Non-currentassets: | ||
Loansandadvancesgranted | ||
Debtinvestment | ||
Otherdebtinvestment | ||
Long-termreceivables | ||
Long-termequityinvestment | 37,748,179.30 | 23,550,658.91 |
Otherequityinstrumentinvestments | 41,192,950.00 | |
Othernon-currentfinancialassets | ||
Investmentproperty | 103,404,402.85 | 106,242,777.85 |
Fixedassets | 2,102,862,886.72 | 1,840,358,093.74 |
Constructioninprogress | 568,107,950.65 | 234,775,312.11 |
Productivebiologicalassets | ||
Oilandgasassets | ||
Right-of-useassets | 101,446,985.74 | 106,196,901.87 |
Intangibleassets | 607,110,895.95 | 547,316,314.57 |
Developmentexpenditure | 134,191,614.89 | 100,947,313.14 |
Goodwill | 110,732,042.84 | 110,732,042.84 |
Long-termdeferredexpenses | 182,804,408.10 | 132,221,565.23 |
Deferredtaxassets | 155,039,996.53 | 129,287,204.92 |
Othernon-currentassets | 120,187,135.05 | 172,371,288.80 |
Totalnon-currentassets | 4,264,829,448.62 | 3,503,999,473.98 |
Totalassets | 11,184,119,392.80 | 10,385,326,794.56 |
Currentliabilities: | ||
Short-termloans | 279,348,750.00 | 283,351,495.57 |
LoanfromtheCentralBank | ||
Borrowedfunds | ||
Financialliabilitiesheldfortrading | ||
Derivativefinancialliabilities | ||
Notespayable | 927,833,178.70 | 1,065,652,340.80 |
Accountspayable | 1,957,626,396.34 | 1,606,446,204.02 |
Accountscollectedinadvance | 2,808,227.54 | 1,130,165.23 |
Contractualliabilities | 168,681,571.89 | 138,281,929.17 |
Financialassetssoldforrepurchase | ||
Depositabsorptionandinterbankdeposit | ||
Actingtradingsecurities | ||
Actingunderwritingsecurities | ||
Employeecompensationpayable | 243,267,783.13 | 206,979,773.15 |
Taxespayable | 92,374,605.57 | 88,405,514.65 |
Otheraccountpayable | 151,341,029.40 | 335,047,520.52 |
Including:interestpayable | ||
Dividendspayable | ||
Servicechargesandcommissionspayable | ||
Reinsuranceaccountspayable | ||
Liabilitiesheldforsale | ||
Non-currentliabilitiesduewithinoneyear | 370,623,598.03 | 75,356,303.72 |
Othercurrentliabilities | 32,561,693.03 | 22,476,430.74 |
Totalcurrentliabilities | 4,226,466,833.63 | 3,823,127,677.57 |
Non-currentliabilities: | ||
Insurancecontractreserve | ||
Long-termloans | 437,747,877.47 | 581,500,000.00 |
Bondspayable | ||
Including:preferredshares | ||
Perpetualcapitalsecurities | ||
Leaseliabilities | 61,429,811.03 | 73,610,791.09 |
Long-termpayables | |||
Long-termemployeecompensationpayable | |||
Estimatedliabilities | |||
Deferredincome | 11,146,292.42 | 13,370,250.14 | |
Deferredtaxliabilities | 77,730,856.81 | 71,091,882.65 | |
Othernon-currentliabilities | |||
Totalnon-currentliabilities | 588,054,837.73 | 739,572,923.88 | |
Totalliabilities | 4,814,521,671.36 | 4,562,700,601.45 | |
Owner'sequity: | |||
Sharecapital | 1,246,834,988.00 | 1,269,535,372.00 | |
Otherequityinstruments | |||
Including:preferredshares | |||
Perpetualcapitalsecurities | |||
Capitalreserves | 2,212,629,919.51 | 2,266,142,198.44 | |
Minus:treasuryshares | 112,426,101.24 | 284,257,854.91 | |
Othercomprehensiveincome | 11,932,029.41 | -8,479,622.35 | |
Specialreserves | |||
Surplusreserves | 219,446,936.59 | 214,764,194.14 | |
Generalriskprovision | |||
Retainedearnings | 2,706,499,696.23 | 2,271,529,693.82 | |
Totalowners'equityattributabletotheparentcompany | 6,284,917,468.50 | 5,729,233,981.14 | |
Minorityshareholders'equity | 84,680,252.94 | 93,392,211.97 | |
Totalowners'equity | 6,369,597,721.44 | 5,822,626,193.11 | |
Totalliabilitiesandowners'equity | 11,184,119,392.80 | 10,385,326,794.56 | |
LegalRepresentative:WuYongqiang | AccountingHead:LuoMuchen | AccountingDepartmentHead:LuoMuchen |
2.BalanceSheetofParentCompany
Unit:RMB
Items | December31,2023 | January1,2023 |
Currentassets: | ||
Monetarycapital | 564,655,392.19 | 417,402,306.51 |
Tradablefinancialassets | 449,502,886.74 | 243,989,473.48 |
Derivativefinancialassets | ||
Notesreceivable | 21,283,544.89 | 15,799,157.89 |
Accountsreceivable | 1,255,501,213.69 | 1,746,854,951.82 |
Financingofaccountsreceivable | 187,096,121.14 | 188,468,485.11 |
Prepayments | 9,934,227.02 | 40,076,367.47 |
Otherreceivables | 359,906,911.54 | 902,544,005.07 |
Including:interestreceivable | ||
Dividendsreceivable | ||
Inventory | 144,733,773.21 | 182,264,664.43 |
Contractassets | ||
Assetsheldforsale | ||
Non-currentassetsduewithinoneyear | ||
Othercurrentassets | 6,508,120.43 | |
Totalcurrentassets | 2,999,122,190.85 | 3,737,399,411.78 |
Non-currentassets: | ||
Debtinvestment | ||
Otherdebtinvestment | ||
Long-termreceivables | ||
Long-termequityinvestment | 3,987,403,182.73 | 3,958,403,119.94 |
Otherequityinstrumentinvestments | ||
Othernon-currentfinancialassets | ||
Investmentproperty | ||
Fixedassets | 168,610,949.25 | 137,310,278.44 |
Constructioninprogress | 12,393,132.55 | 22,775,996.65 |
Productivebiologicalassets | ||
Oilandgasassets | ||
Right-of-useassets | 9,098,366.55 | 14,765,367.57 |
Intangibleassets | 160,674,130.76 | 164,654,805.95 |
Developmentexpenditure | 83,523,254.86 | 53,698,954.16 |
Goodwill | ||
Long-termdeferredexpenses | 15,656,340.48 | 16,270,648.51 |
Deferredtaxassets | 44,367,498.96 | 33,648,975.07 |
Othernon-currentassets | 9,641,839.34 | 8,686,283.92 |
Totalnon-currentassets | 4,491,368,695.48 | 4,410,214,430.21 |
Totalassets | 7,490,490,886.33 | 8,147,613,841.99 |
Currentliabilities: | ||
Short-termloans | 204,133,333.33 | 10,000.00 |
Financialliabilitiesheldfortrading | ||
Derivativefinancialliabilities | ||
Notespayable | 1,136,576,558.75 | 968,645,962.43 |
Accountspayable | 242,320,060.42 | 610,163,494.08 |
Accountscollectedinadvance | 0.00 | 0.00 |
Contractualliabilities | 95,017,210.64 | 50,483,032.75 |
Employeecompensationpayable | 134,992,084.62 | 107,895,045.76 |
Taxespayable | 17,927,120.33 | 23,225,286.94 |
Otheraccountpayable | 470,481,715.23 | 1,258,071,297.67 |
Including:interestpayable | ||
Dividendspayable | ||
Liabilitiesheldforsale | ||
Non-currentliabilitiesduewithinoneyear | 307,665,202.21 | 6,896,279.13 |
Othercurrentliabilities | 11,806,507.10 | 5,163,830.86 |
Totalcurrentliabilities | 2,620,919,792.63 | 3,030,554,229.62 |
Non-currentliabilities: | ||
Long-termloans | 300,000,000.00 | |
Bondspayable | ||
Including:preferredshares | ||
Perpetualcapitalsecurities | ||
Leaseliabilities | 1,591,379.57 | 7,788,265.09 |
Long-termpayables | ||
Long-termemployeecompensationpayable | ||
Estimatedliabilities | ||
Deferredincome | 3,806,112.42 | 5,583,950.14 |
Deferredtaxliabilities | 32,635,559.80 | 32,610,663.86 |
Othernon-currentliabilities | ||
Totalnon-currentliabilities | 38,033,051.79 | 345,982,879.09 |
Totalliabilities | 2,658,952,844.42 | 3,376,537,108.71 |
Owner'sequity: | ||
Sharecapital | 1,246,834,988.00 | 1,269,535,372.00 |
Otherequityinstruments | ||
Including:preferredshares | ||
Perpetualcapitalsecurities | ||
Capitalreserves | 2,254,729,914.19 | 2,314,366,149.44 |
Minus:treasuryshares | 112,426,101.24 | 284,257,854.91 |
Othercomprehensiveincome | ||
Specialreserves | ||
Surplusreserves | 219,418,418.13 | 214,735,675.68 |
Retainedearnings | 1,222,980,822.83 | 1,256,697,391.07 |
Totalowners'equity | 4,831,538,041.91 | 4,771,076,733.28 |
Totalliabilitiesandowners'equity | 7,490,490,886.33 | 8,147,613,841.99 |
3.Consolidatedincomestatement
Unit:RMB
Items | In2023, | 2022 |
I.Totaloperatingincome | 8,992,342,169.08 | 8,875,099,137.06 |
Including:operatingincome | 8,992,342,169.08 | 8,875,099,137.06 |
Interestincome | ||
Premiumearned | ||
Servicechargeandcommissionincome | ||
II.Totaloperatingcost | 8,440,752,000.64 | 8,245,478,544.66 |
Including:operatingcost | 6,986,324,444.52 | 7,087,226,986.88 |
Interestexpense | ||
Servicechargeandcommissionpayment | ||
Surrendervalue | ||
Netcompensationexpenditure |
Netreserveamountsetasideforinsuranceliabilitycontracts | ||
Policydividendpayment | ||
Reinsuranceexpenses | ||
Taxesandsurcharges | 55,464,701.92 | 59,394,768.35 |
Sellingexpenses | 322,340,584.49 | 260,181,170.88 |
Overheads | 438,361,342.66 | 369,502,745.36 |
R&Dexpenses | 689,969,610.98 | 592,346,136.09 |
Financeexpenses | -51,708,683.93 | -123,173,262.90 |
Including:interestexpenses | 38,085,866.07 | 35,262,744.35 |
Interestincome | 36,588,417.62 | 22,969,451.22 |
Plus:otherincome | 65,448,854.90 | 39,182,827.95 |
Investmentincome(lossmarkedwith"-") | -11,234,586.49 | 564,908.47 |
Including:incomefrominvestmentinassociatedenterprisesandjointventures | 1,126,356.29 | -2,568,468.91 |
Derecognizedgainsfromfinancialassetsmeasuredatamortizedcost | ||
Exchangegains(lossmarkedwith"-") | 0.00 | 0.00 |
Netexposurehedgingincome(lossmarkedwith"-") | 0.00 | 0.00 |
Lossfromchangesinfairvalue(lossmarkedwith"-") | 12,535,503.26 | 87,818,625.99 |
Creditimpairmentlosses(lossmarkedwith"-") | -3,019,928.48 | -49,371,999.14 |
Assetimpairmentloss(lossmarkedwith"-") | -70,707,401.38 | -69,957,962.94 |
Assetsdisposalrevenue(lossmarkedwith"-") | -1,426,087.98 | -1,612,652.02 |
III.Operatingprofits(lossmarkedwith"-") | 543,186,522.27 | 636,244,340.71 |
Plus:non-operatingincome | 6,779,756.94 | 6,343,380.95 |
Minus:non-operatingexpenses | 21,281,506.27 | 9,310,001.33 |
IV.Totalprofit(totallossmarkedwith"-") | 528,684,772.94 | 633,277,720.33 |
Minus:incometaxexpense | 16,736,134.41 | 51,082,029.49 |
V.Netprofit(netlossmarkedwith"-") | 511,948,638.53 | 582,195,690.84 |
(I)Classificationaccordingtobusinesscontinuity | ||
1.Netprofitfromcontinuingoperations(netlossmarkedwith"-") | 511,948,638.53 | 582,195,690.84 |
2.Netprofitofdiscontinuedoperation(netlossmarkedwith"-") | ||
(II)Classificationaccordingtoownership | ||
1.Netincomeattributabletotheshareholdersoftheparentcompany | 515,513,995.18 | 583,000,286.76 |
2.Profitsandlossesofminorityshareholders | -3,565,356.65 | -804,595.92 |
VI.Netafter-taxamountofothercomprehensiveincome | 20,411,651.76 | 83,351,874.53 |
Netafter-taxamountofothercomprehensiveincomeattributabletotheowneroftheparentcompany | 20,411,651.76 | 83,351,874.53 |
(I)Othercomprehensiveincomethatcannotbereclassifiedintoprofitsorlosses | ||
1.Re-measurementofchangesinthedefined |
benefitplans | ||
2.Othercomprehensiveincomenotavailablefortransferringtoprofitsorlossesunderequitymethod | ||
3.Changesinfairvalueofotherequityinstrumentinvestment | ||
4.Changesinfairvalueofenterprise'sowncreditrisk | ||
5.Others | ||
(II)Othercomprehensiveincomethatisreclassifiedintoprofitsandlosses | 20,411,651.76 | 83,351,874.53 |
1.Othercomprehensiveincomethatcanbetransferredintoprofitsorlossesundertheequitymethod | ||
2.Changesinfairvalueofotherdebtinvestments | ||
3.Amountoffinancialassetsreclassifiedintoothercomprehensiveincome | ||
4.Provisionsforcreditimpairmentofotherdebtinvestment | ||
5.Cashflowhedgingreserve | ||
6.Differenceintranslationofforeigncurrencyfinancialstatements | 20,411,651.76 | 83,721,983.94 |
7.Others | -370,109.41 | |
Netafter-taxamountofothercomprehensiveincomeattributedtotheminorityofshareholders | ||
VII.Totalcomprehensiveincome | 532,360,290.29 | 665,547,565.37 |
Totalconsolidatedincomeattributabletotheownersoftheparentcompany | 535,925,646.94 | 666,352,161.29 |
Totalconsolidatedincomeattributabletominorityshareholders | -3,565,356.65 | -804,595.92 |
VIII.Earningspershare | ||
(I)Basicearningspershare | 0.41 | 0.46 |
(II)Dilutedearningspershare | 0.41 | 0.46 |
Incaseofconsolidationunderthesamecontrolinthecurrentperiod,thenetprofitrealizedbythecombinedpartybeforetheconsolidationisRMB0,andthenetprofitrealizedbythecombinedpartyinthepreviousperiodisRMB0.
LegalRepresentative:WuYongqiang | AccountingHead:LuoMuchen | AccountingDepartmentHead:LuoMuchen |
4.Parentcompanyincomestatement
Unit:RMB
Items | In2023, | 2022 |
I.Operatingincome | 4,556,604,247.89 | 5,202,648,644.72 |
Minus:operatingcost | 3,771,059,615.43 | 4,377,885,965.16 |
Taxesandsurcharges | 12,815,647.25 | 27,844,377.41 |
Sellingexpenses | 203,292,991.91 | 161,446,390.50 |
Overheads | 208,265,939.19 | 199,330,817.89 |
R&Dexpenses | 354,899,847.25 | 288,197,868.48 |
Financeexpenses | -28,182,271.87 | -97,593,261.74 |
Including:interestexpenses | 18,633,033.66 | 14,742,345.29 |
Interestincome | 17,407,950.27 | 12,642,025.47 |
Plus:otherincome | 13,658,581.00 | 18,196,376.76 |
Investmentincome(lossmarkedwith"-") | -13,309,330.46 | 2,905,522.38 |
Including:incomefrominvestmentinassociatedenterprisesandjointventures | -47,053.31 | -88,713.69 |
Derecognizedgainsfromfinancialassetsmeasuredatamortizedcost(lossmarkedwith"-") | ||
Netexposurehedgingincome(lossmarkedwith"-") | ||
Lossfromchangesinfairvalue(lossmarkedwith"-") | 5,513,413.26 | 56,977,636.74 |
Creditimpairmentlosses(lossmarkedwith"-") | 5,038,682.32 | -7,750,950.30 |
Assetimpairmentloss(lossmarkedwith"-") | -4,422,995.84 | -4,062,161.66 |
Assetsdisposalrevenue(lossmarkedwith"-") | 90,933.75 | 73,024.55 |
II.Operatingprofit(lossmarkedwith"-") | 41,021,762.76 | 311,875,935.49 |
Plus:non-operatingincome | 656,080.49 | 3,353,859.66 |
Minus:non-operatingexpenses | 9,348,080.91 | 3,072,574.72 |
III.Totalprofit(totallossmarkedwith"-") | 32,329,762.34 | 312,157,220.43 |
Minus:incometaxexpense | -14,497,662.19 | 28,491,596.65 |
IV.Netprofit(netlossmarkedwith"-") | 46,827,424.53 | 283,665,623.78 |
(I)Netprofitfromcontinuingoperation(netlossmarkedwith"-") | 46,827,424.53 | 283,665,623.78 |
(II)Netprofitfromterminationofoperation(netlossmarkedwith"-") | ||
V.Netafter-taxamountofothercomprehensiveincome | -370,109.41 | |
(I)Othercomprehensiveincomethatcannotbereclassifiedintoprofitsorlosses | ||
1.Re-measurementofchangesinthedefinedbenefitplans | ||
2.Othercomprehensiveincomenotavailablefortransferringtoprofitsorlossesunderequitymethod | ||
3.Changesinfairvalueofotherequityinstrumentinvestment | ||
4.Changesinfairvalueofenterprise'sowncreditrisk | ||
5.Others | ||
(II)Othercomprehensiveincomethatisreclassifiedintoprofitsandlosses | -370,109.41 | |
1.Othercomprehensiveincomethatcanbetransferredintoprofitsorlossesundertheequitymethod | ||
2.Changesinfairvalueofotherdebtinvestments | ||
3.Amountoffinancialassetsreclassifiedintoothercomprehensiveincome | ||
4.Provisionsforcreditimpairmentofotherdebtinvestment | ||
5.Cashflowhedgingreserve | ||
6.Differenceintranslationofforeigncurrencyfinancialstatements | ||
7.Others | -370,109.41 | |
VI.Totalcomprehensiveincome | 46,827,424.53 | 283,295,514.37 |
VII.Earningspershare | ||
(I)Basicearningspershare | ||
(II)Dilutedearningspershare |
5.ConsolidatedCashFlowStatement
Unit:RMB
Items | In2023, | 2022 |
I.Cashflowfromoperatingactivities: | ||
Cashreceivedfromsalesofgoodsorrenderingofservices | 9,179,548,776.38 | 8,626,949,263.26 |
Netincreaseindepositswithotherbanks | ||
Netincreaseinborrowingfromthecentralbank | ||
Netincreaseinfundsborrowedfromotherfinancialinstitutions | ||
Cashfromreceiptoforiginalinsurancecontractpremiums | ||
Receiptofnetcashforreinsuranceoperations | ||
Netincreaseinsavingsandinvestmentfundsoftheinsured | ||
Cashfromreceiptofinterest,servicechargesandcommissions | ||
Netincreaseinborrowedfunds | ||
Netincreaseinfundsfromrepurchaseoperations | ||
Netcashreceivedforactingtradingsecurities | ||
Refundoftaxandlevies | 434,533,452.30 | 438,361,600.33 |
Othercashreceivedrelatedtooperatingactivities | 128,571,908.33 | 128,901,892.62 |
Subtotalofcashinflowfromoperatingactivities | 9,742,654,137.01 | 9,194,212,756.21 |
Cashpaidforpurchasinggoodsandacceptinglaborservices | 6,199,684,459.33 | 6,729,462,234.98 |
Netincreaseinloansandadvancesofclients | ||
Netincreaseindepositswithcentralbanksandinterbanks | ||
Cashincompensationfundspaidfortheoriginalinsurancecontract | ||
Netincreaseinlendingfunds | ||
Cashforpaymentofinterest,servicechargesandcommissions | ||
Cashforpaymentofpolicydividends | ||
Cashpaidtoandforemployees | 1,524,104,853.03 | 1,486,982,071.31 |
Taxpayments | 224,407,012.95 | 223,823,801.46 |
Othercashpaidinconnectionwithoperatingactivities | 328,509,312.52 | 262,889,572.13 |
Subtotalofcashoutflowfromoperatingactivities | 8,276,705,637.83 | 8,703,157,679.88 |
Netcashflowfromoperatingactivities | 1,465,948,499.18 | 491,055,076.33 |
II.Cashflowfrominvestingactivities: | ||
Cashreceivedfrominvestmentrecovery | 21,000,265.52 | 57,000,000.00 |
Cashreceivedasreturnonaninvestment | 10,790,963.35 | 3,133,377.38 |
Netcashrecoupedfromdisposaloffixedassets,intangibleassets,andotherlong-termassets | 7,452,254.91 | 3,500,006.86 |
Netcashreceivedfromdisposalofsubsidiariesandotherbusinessunits | ||
Othercashreceivedrelatingtoinvestmentactivities | ||
Subtotalofcashinflowfrominvestmentactivities | 39,243,483.78 | 63,633,384.24 |
Cashpaidforthepurchaseandconstructionoffixedassets,intangibleassetsandotherlong-termassets | 796,916,014.71 | 734,670,701.34 |
Cashpaidforinvestment | 380,124,141.64 | 97,032,200.02 |
Netincreaseinpledgedloans |
Netcashobtainedfromsubsidiariesandotherbusinessunits | ||
Othercashpaidrelatedtoinvestmentactivities | 10,589,916.81 | 9,000,000.00 |
Subtotalofcashoutflowfrominvestmentactivities | 1,187,630,073.16 | 840,702,901.36 |
Netcashflowfrominvestmentactivities | -1,148,386,589.38 | -777,069,517.12 |
III.Cashflowfromfinancingactivities: | ||
Cashreceivedfromabsorbinginvestment | 0.00 | 49,875,015.00 |
Including:cashreceivedbysubsidiaries'absorptionofminorityshareholders'investment | ||
Cashreceivedfromloan | 975,297,372.48 | 1,048,010,000.00 |
Othercashreceivedrelatingtofinancingactivities | 10,045,619.78 | 20,898,938.99 |
Subtotalofcashinflowfromfinancingactivities | 985,342,992.26 | 1,118,783,953.99 |
Cashpaidforrepaymentsofdebts | 832,250,000.01 | 1,054,629,259.95 |
Cashpaidtodistributedividends,profitsorpayinterest | 104,646,124.41 | 92,131,933.80 |
Including:dividendsandprofitspaidbysubsidiariestominorityshareholders | ||
Othercashpaidrelatedtofinancingactivities | 281,629,710.21 | 96,944,669.54 |
Subtotalofcashoutflowfromfinancingactivities | 1,218,525,834.63 | 1,243,705,863.29 |
Netcashflowfromfinancingactivities | -233,182,842.37 | -124,921,909.30 |
IV.Impactofexchangeratefluctuationsoncashandcashequivalents | 36,082,945.10 | 49,113,085.12 |
V.Netincreaseincashandcashequivalents | 120,462,012.53 | -361,823,264.97 |
Plus:balanceofcashandcashequivalentsatthebeginningoftheperiod | 1,374,281,693.23 | 1,736,104,958.20 |
VI.Balanceofcashandcashequivalentsattheendoftheperiod | 1,494,743,705.76 | 1,374,281,693.23 |
6.Cashflowstatementoftheparentcompany
Unit:RMB
Items | In2023, | 2022 |
I.Cashflowfromoperatingactivities: | ||
Cashreceivedfromsalesofgoodsorrenderingofservices | 5,146,532,349.10 | 4,734,306,171.71 |
Refundoftaxandlevies | 215,907,016.90 | 227,237,393.79 |
Othercashreceivedrelatedtooperatingactivities | 1,924,186,614.04 | 3,336,116,773.24 |
Subtotalofcashinflowfromoperatingactivities | 7,286,625,980.04 | 8,297,660,338.74 |
Cashpaidforpurchasinggoodsandacceptinglaborservices | 4,086,653,994.37 | 3,894,502,672.61 |
Cashpaidtoandforemployees | 580,575,688.20 | 625,644,473.84 |
Taxpayments | 24,471,056.32 | 47,969,809.00 |
Othercashpaidinconnectionwithoperatingactivities | 1,993,324,411.74 | 3,442,743,241.93 |
Subtotalofcashoutflowfromoperatingactivities | 6,685,025,150.63 | 8,010,860,197.38 |
Netcashflowfromoperatingactivities | 601,600,829.41 | 286,800,141.36 |
II.Cashflowfrominvestingactivities: | ||
Cashreceivedfrominvestmentrecovery | 0.00 | 0.00 |
Cashreceivedasreturnonaninvestment | 6,844,619.62 | 2,994,236.07 |
Netcashrecoupedfromdisposaloffixedassets,intangibleassets,andotherlong-termassets | 315,914.28 | 2,707,761.44 |
Netcashreceivedfromdisposalofsubsidiariesandotherbusinessunits | ||
Othercashreceivedrelatingtoinvestmentactivities | ||
Subtotalofcashinflowfrominvestmentactivities | 7,160,533.90 | 5,701,997.51 |
Cashpaidforthepurchaseandconstructionoffixedassets,intangibleassetsandotherlong-termassets | 125,616,454.72 | 113,986,390.44 |
Cashpaidforinvestment | 205,000,000.00 | 975,275,000.00 |
Netcashobtainedfromsubsidiariesandotherbusinessunits | ||
Othercashpaidrelatedtoinvestmentactivities | 43,224,116.81 | 0.00 |
Subtotalofcashoutflowfrominvestmentactivities | 373,840,571.53 | 1,089,261,390.44 |
Netcashflowfrominvestmentactivities | -366,680,037.63 | -1,083,559,392.93 |
III.Cashflowfromfinancingactivities: | ||
Cashreceivedfromabsorbinginvestment | 0.00 | 49,875,015.00 |
Cashreceivedfromloan | 230,000,000.00 | 718,010,000.00 |
Othercashreceivedrelatingtofinancingactivities | 4,508,032.15 | 16,164,446.24 |
Subtotalofcashinflowfromfinancingactivities | 234,508,032.15 | 784,049,461.24 |
Cashpaidforrepaymentsofdebts | 30,010,000.00 | 568,000,000.00 |
Cashpaidtodistributedividends,profitsorpayinterest | 87,648,051.70 | 74,343,060.81 |
Othercashpaidrelatedtofinancingactivities | 229,250,301.23 | 64,028,921.16 |
Subtotalofcashoutflowfromfinancingactivities | 346,908,352.93 | 706,371,981.97 |
Netcashflowfromfinancingactivities | -112,400,320.78 | 77,677,479.27 |
IV.Impactofexchangeratefluctuationsoncashandcashequivalents | 13,051,509.87 | 28,525,978.51 |
V.Netincreaseincashandcashequivalents | 135,571,980.87 | -690,555,793.79 |
Plus:balanceofcashandcashequivalentsatthebeginningoftheperiod | 394,701,442.83 | 1,085,257,236.62 |
VI.Balanceofcashandcashequivalentsattheendoftheperiod | 530,273,423.70 | 394,701,442.83 |
7.Consolidatedstatementofchangesinowner'sequityAmountinthecurrentperiod
Unit:RMB
Items | In2023, | ||||||||||||||
Owner'sequityattributabletotheparentcompany | Minorityshareholders'equity | Totalowners'equity | |||||||||||||
Sharecapital | Otherequityinstruments | Capitalreserves | Minus:treasuryshares | Othercomprehensiveincome | Specialreserves | Surplusreserves | Generalriskprovision | Retainedearnings | Others | Subtotal | |||||
Preferredshares | Perpetualcapitalsecurities | Others | |||||||||||||
I.Endingbalanceoflastyear | 1,269,535,372.00 | 2,266,142,198.44 | 284,257,854.91 | -8,479,622.35 | 214,764,194.14 | 2,271,529,693.82 | 5,729,233,981.14 | 93,392,211.97 | 5,822,626,193.11 | ||||||
Plus:changesinaccountingpolicies | |||||||||||||||
Earlyerrorcorrection | |||||||||||||||
Others | |||||||||||||||
II.Beginningbalanceofthecurrentyear | 1,269,535,372.00 | 2,266,142,198.44 | 284,257,854.91 | -8,479,622.35 | 214,764,194.14 | 2,271,529,693.82 | 5,729,233,981.14 | 93,392,211.97 | 5,822,626,193.11 | ||||||
III.Amountofchangesinincreaseordecreaseinthecurrentperiod(decreasemarkedwith"-") | -22,700,384.00 | -53,512,278.93 | -171,831,753.67 | 20,411,651.76 | 4,682,742.45 | 434,970,002.41 | 555,683,487.36 | -8,711,959.03 | 546,971,528.33 | ||||||
(I)Totalcomprehensiveincome | 20,411,651.76 | 515,513,995.18 | 535,925,646.94 | -3,565,356.65 | 532,360,290.29 | ||||||||||
(II)Capitalinvestedandreducedbyowners | -22,700,384.00 | -53,356,916.24 | -171,831,753.67 | 95,774,453.43 | 2,498,034.93 | 98,272,488.36 | |||||||||
1.Ordinarysharesinvestedbyowners | |||||||||||||||
2.Capitalcontributedbyholdersofotherequityinstruments |
3.Amountofshare-basedpaymentincludedinowner'sequity | 85,569,433.84 | 85,569,433.84 | 2,498,034.93 | 88,067,468.77 | ||||||||
4.Others | -22,700,384.00 | -138,926,350.08 | -171,831,753.67 | 10,205,019.59 | 10,205,019.59 | |||||||
(III)Profitdistribution | 4,682,742.45 | -80,543,992.77 | -75,861,250.32 | -75,861,250.32 | ||||||||
1.Withdrawalofsurplusreserve | 4,682,742.45 | -4,682,742.45 | ||||||||||
2.Withdrawalofgeneralriskprovision | ||||||||||||
3.Distributiontoowners(orshareholders) | -75,861,250.32 | -75,861,250.32 | -75,861,250.32 | |||||||||
4.Others | ||||||||||||
(IV)Internalcarryoverofowner'sequity | ||||||||||||
1.Conversionofsurplusreservestoadditionalcapital(orsharecapital) | ||||||||||||
2.Conversionofsurplusreservestoadditionalcapital(orsharecapital) | ||||||||||||
3.Surpluspublicreservetocompensatelosses | ||||||||||||
4.Changeofdefinedbenefitplanscarriedforwardtoretainedearnings | ||||||||||||
5.Othercomprehensiveincomecarriedforwardintoretainedearnings | ||||||||||||
6.Others | ||||||||||||
(V)Specialreserves | ||||||||||||
1.Amountwithdrawninthe |
currentperiod | |||||||||||||
2.Amountusedinthecurrentperiod | |||||||||||||
(VI)Others | -155,362.69 | -155,362.69 | -7,644,637.31 | -7,800,000.00 | |||||||||
IV.Endingbalanceofthecurrentyear | 1,246,834,988.00 | 2,212,629,919.51 | 112,426,101.24 | 11,932,029.41 | 219,446,936.59 | 2,706,499,696.23 | 6,284,917,468.50 | 84,680,252.94 | 6,369,597,721.44 |
Amountinthepreviousperiod
Unit:RMB
Items | 2022 | ||||||||||||||
Owner'sequityattributabletotheparentcompany | Minorityshareholders'equity | Totalowners'equity | |||||||||||||
Sharecapital | Otherequityinstruments | Capitalreserves | Minus:treasuryshares | Othercomprehensiveincome | Specialreserves | Surplusreserves | Generalriskprovision | Retainedearnings | Others | Subtotal | |||||
Preferredshares | Perpetualcapitalsecurities | Others | |||||||||||||
I.Endingbalanceoflastyear | 1,256,978,072.00 | 2,140,053,149.74 | 242,525,433.60 | -91,831,496.88 | 186,397,631.76 | 1,779,243,483.61 | 5,028,315,406.63 | 88,559,929.67 | 5,116,875,336.30 | ||||||
Plus:changesinaccountingpolicies | 365,494.43 | 365,494.43 | 30,539.28 | 396,033.71 | |||||||||||
Earlyerrorcorrection | |||||||||||||||
Others | |||||||||||||||
II.Beginningbalanceofthecurrentyear | 1,256,978,072.00 | 2,140,053,149.74 | 242,525,433.60 | -91,831,496.88 | 186,397,631.76 | 1,779,608,978.04 | 5,028,680,901.06 | 88,590,468.95 | 5,117,271,370.01 | ||||||
III.Amountofchangesinincreaseordecreaseinthecurrentperiod(decreasemarkedwith"-") | 12,557,300.00 | 126,089,048.70 | 41,732,421.31 | 83,351,874.53 | 28,366,562.38 | 491,920,715.78 | 700,553,080.08 | 4,801,743.02 | 705,354,823.10 | ||||||
(I)Totalcomprehensiveincome | 83,351,874.53 | 583,000,286.76 | 666,352,161.29 | -804,595.92 | 665,547,565.37 | ||||||||||
(II)Capitalinvestedandreducedbyowners | 12,557,300.00 | 160,961,901.03 | 41,732,421.31 | 131,786,779.72 | 131,786,779.72 | ||||||||||
1.Ordinarysharesinvestedby | 14,049,300.00 | 35,825,715.00 | 49,875,015.00 | 49,875,015.00 |
owners | ||||||||||||
2.Capitalcontributedbyholdersofotherequityinstruments | ||||||||||||
3.Amountofshare-basedpaymentincludedinowner'sequity | 134,356,746.03 | 134,356,746.03 | 134,356,746.03 | |||||||||
4.Others | -1,492,000.00 | -9,220,560.00 | 41,732,421.31 | -52,444,981.31 | -52,444,981.31 | |||||||
(III)Profitdistribution | 28,366,562.38 | -91,079,570.98 | -62,713,008.60 | -62,713,008.60 | ||||||||
1.Withdrawalofsurplusreserve | 28,366,562.38 | -28,366,562.38 | ||||||||||
2.Withdrawalofgeneralriskprovision | ||||||||||||
3.Distributiontoowners(orshareholders) | -62,713,008.60 | -62,713,008.60 | -62,713,008.60 | |||||||||
4.Others | ||||||||||||
(IV)Internalcarryoverofowner'sequity | ||||||||||||
1.Conversionofsurplusreservestoadditionalcapital(orsharecapital) | ||||||||||||
2.Conversionofsurplusreservestoadditionalcapital(orsharecapital) | ||||||||||||
3.Surpluspublicreservetocompensatelosses | ||||||||||||
4.Changeofdefinedbenefitplanscarriedforwardtoretainedearnings | ||||||||||||
5.Othercomprehensiveincomecarriedforwardintoretainedearnings | ||||||||||||
6.Others |
(V)Specialreserves | |||||||||||||
1.Amountwithdrawninthecurrentperiod | |||||||||||||
2.Amountusedinthecurrentperiod | |||||||||||||
(VI)Others | -34,872,852.33 | -34,872,852.33 | 5,606,338.94 | -29,266,513.39 | |||||||||
IV.Endingbalanceofthecurrentyear | 1,269,535,372.00 | 2,266,142,198.44 | 284,257,854.91 | -8,479,622.35 | 214,764,194.14 | 2,271,529,693.82 | 5,729,233,981.14 | 93,392,211.97 | 5,822,626,193.11 |
8.Parentcompany'sstatementofchangesinowner'sequity
Amountinthecurrentperiod
Unit:RMB
Items | In2023, | |||||||||||
Sharecapital | Otherequityinstruments | Capitalreserves | Minus:treasuryshares | Othercomprehensiveincome | Specialreserves | Surplusreserves | Retainedearnings | Others | Totalowners'equity | |||
Preferredshares | Perpetualcapitalsecurities | Others | ||||||||||
I.Endingbalanceoflastyear | 1,269,535,372.00 | 2,314,366,149.44 | 284,257,854.91 | 214,735,675.68 | 1,256,697,391.07 | 4,771,076,733.28 | ||||||
Plus:changesinaccountingpolicies | ||||||||||||
Earlyerrorcorrection | ||||||||||||
Others | ||||||||||||
II.Beginningbalanceofthecurrentyear | 1,269,535,372.00 | 2,314,366,149.44 | 284,257,854.91 | 214,735,675.68 | 1,256,697,391.07 | 4,771,076,733.28 | ||||||
III.Amountofchangesinincreaseordecreaseinthecurrentperiod(decreasemarkedwith"-") | -22,700,384.00 | -59,636,235.25 | -171,831,753.67 | 4,682,742.45 | -33,716,568.24 | 60,461,308.63 | ||||||
(I)Totalcomprehensiveincome | 46,827,424.53 | 46,827,424.53 | ||||||||||
(II)Capitalinvestedandreducedbyowners | -22,700,384.00 | -59,636,235.25 | -171,831,753.67 | 89,495,134.42 | ||||||||
1.Ordinarysharesinvestedbyowners | ||||||||||||
2.Capitalcontributedbyholdersofotherequityinstruments | ||||||||||||
3.Amountofshare-basedpayment | 79,290,114.83 | 79,290,114.83 |
includedinowner'sequity | |||||||||
4.Others | -22,700,384.00 | -138,926,350.08 | -171,831,753.67 | 10,205,019.59 | |||||
(III)Profitdistribution | 4,682,742.45 | -80,543,992.77 | -75,861,250.32 | ||||||
1.Withdrawalofsurplusreserve | 4,682,742.45 | -4,682,742.45 | |||||||
2.Distributiontoowners(orshareholders) | -75,861,250.32 | -75,861,250.32 | |||||||
3.Others | |||||||||
(IV)Internalcarryoverofowner'sequity | |||||||||
1.Conversionofsurplusreservestoadditionalcapital(orsharecapital) | |||||||||
2.Conversionofsurplusreservestoadditionalcapital(orsharecapital) | |||||||||
3.Surpluspublicreservetocompensatelosses | |||||||||
4.Changeofdefinedbenefitplanscarriedforwardtoretainedearnings | |||||||||
5.Othercomprehensiveincomecarriedforwardintoretainedearnings | |||||||||
6.Others | |||||||||
(V)Specialreserves | |||||||||
1.Amountwithdrawninthecurrentperiod | |||||||||
2.Amountusedinthecurrentperiod | |||||||||
(VI)Others | |||||||||
IV.Endingbalanceofthecurrentyear | 1,246,834,988.00 | 2,254,729,914.19 | 112,426,101.24 | 219,418,418.13 | 1,222,980,822.83 | 4,831,538,041.91 |
Amountinthepreviousperiod
Unit:RMB
Items | 2022 | |||||||||||
Sharecapital | Otherequityinstruments | Capitalreserves | Minus:treasuryshares | Othercomprehensiveincome | Specialreserves | Surplusreserves | Retainedearnings | Others | Totalowners'equity | |||
Preferredshares | Perpetualcapitalsecurities | Others | ||||||||||
I.Endingbalanceoflastyear | 1,256,978,072.00 | 2,189,685,216.22 | 242,525,433.60 | 370,109.41 | 186,369,113.30 | 1,064,111,338.27 | 4,454,988,415.60 | |||||
Plus:changesinaccounting |
policies | ||||||||||
Earlyerrorcorrection | ||||||||||
Others | ||||||||||
II.Beginningbalanceofthecurrentyear | 1,256,978,072.00 | 2,189,685,216.22 | 242,525,433.60 | 370,109.41 | 186,369,113.30 | 1,064,111,338.27 | 4,454,988,415.60 | |||
III.Amountofchangesinincreaseordecreaseinthecurrentperiod(decreasemarkedwith"-") | 12,557,300.00 | 124,680,933.22 | 41,732,421.31 | -370,109.41 | 28,366,562.38 | 192,586,052.80 | 316,088,317.68 | |||
(I)Totalcomprehensiveincome | -370,109.41 | 283,665,623.78 | 283,295,514.37 | |||||||
(II)Capitalinvestedandreducedbyowners | 12,557,300.00 | 155,943,760.34 | 41,732,421.31 | 126,768,639.03 | ||||||
1.Ordinarysharesinvestedbyowners | 14,049,300.00 | 35,825,715.00 | 49,875,015.00 | |||||||
2.Capitalcontributedbyholdersofotherequityinstruments | ||||||||||
3.Amountofshare-basedpaymentincludedinowner'sequity | 129,338,605.34 | 129,338,605.34 | ||||||||
4.Others | -1,492,000.00 | -9,220,560.00 | 41,732,421.31 | -52,444,981.31 | ||||||
(III)Profitdistribution | 28,366,562.38 | -91,079,570.98 | -62,713,008.60 | |||||||
1.Withdrawalofsurplusreserve | 28,366,562.38 | -28,366,562.38 | ||||||||
2.Distributiontoowners(orshareholders) | -62,713,008.60 | -62,713,008.60 | ||||||||
3.Others | ||||||||||
(IV)Internalcarryoverofowner'sequity | ||||||||||
1.Conversionofsurplusreservestoadditionalcapital(orsharecapital) | ||||||||||
2.Conversionofsurplusreservestoadditionalcapital(orsharecapital) | ||||||||||
3.Surpluspublicreservetocompensatelosses | ||||||||||
4.Changeofdefinedbenefitplanscarriedforwardtoretainedearnings | ||||||||||
5.Othercomprehensiveincomecarriedforwardintoretainedearnings | ||||||||||
6.Others | ||||||||||
(V)Specialreserves | ||||||||||
1.Amountwithdrawninthecurrentperiod |
2.Amountusedinthecurrentperiod | |||||||||
(VI)Others | -31,262,827.12 | -31,262,827.12 | |||||||
IV.Endingbalanceofthecurrentyear | 1,269,535,372.00 | 2,314,366,149.44 | 284,257,854.91 | 214,735,675.68 | 1,256,697,391.07 | 4,771,076,733.28 |
III.BasicinformationoftheCompanyShenzhenTopbandCo.,Ltd.(hereinafterreferredtoas"theCompany")formerlyknownasShenzhenTopbandElectronicEquipmentCo.,Ltd.,isalimitedliabilitycompanyapprovedbyShenzhenAdministrationforIndustryandCommerceonFebruary9,1996.IthasobtainedtheBusinessLicenseofEnterpriseLegalPersonwiththeregistrationnumberof19241377-3.OnJanuary10,2001,uponapproval,thenameofShenzhenTopbandElectronicEquipmentCo.,Ltd.waschangedtoShenzhenTopbandElectronicTechnologyCo.,Ltd.OnJuly15,2002,withtheapprovalofShenzhenMunicipalPeople'sGovernmentbyissuingtheReplytotheApprovaloftheReorganizationandEstablishmentofShenzhenTopbandElectronicTechnologyCo.,Ltd.(SFG[2002]No.24),itwasagreedthatShenzhenTopbandElectronicTechnologyCo.,Ltd.wouldbereorganizedintoajointstocklimitedcompanyjointlybyfiveshareholders.OnJune26,2007,withtheapprovaloftheNoticeonApprovingtheInitialPublicOfferingofShenzhenTopbandElectronicTechnologyCo.,Ltd.(CSRCNo.2007135)issuedbytheChinaSecuritiesRegulatoryCommission,theCompanyissuedsharestothepublicandwaslistedontheShenzhenStockExchangewiththestockcode(002139).InSeptember2009,theCompany'snamewaschangedtoShenzhenTopbandCo.,Ltd.TheCompany'sregisteredaddressisF1,TopbandIndustrialParkPhaseII,KejiSecondRoad,TangtouCommunity,ShiyanSub-district,Bao'anDistrict,Shenzhen.Theunifiedsocialcreditcodeofthebusinesslicenseis91440300192413773Q.ThelegalrepresentativeoftheCompanyisWuYongqiang.AsofDecember31,2023,thesharecapitalisRMB1,246,834,988.00.TheCompany'smainoperatingactivitiesaretheR&D,production,andsalesofintelligentcontrolsystemsolutions,i.e.,withthe"electroniccontrol,motor,battery,powersourceandIoTplatform"asthecore,providingavarietyofcustomsolutionsforhouseholdappliances,tools,newenergy,andindustry.Submissionoffinancialstatement:ThisfinancialstatementhasbeenapprovedforsubmissionbytheCompany'sBoardofDirectorsonMarch25,2024.IV.Preparationbasisofthefinancialstatement
1.BasisofpreparationThefinancialstatementsarebasedontheassumptionofcontinuationoftheCompany,accordingtotheactualtransactions,inaccordancewiththerelevantprovisionsoftheAccountingStandardsforBusinessEnterprises,andbasedonthefollowingimportantaccountingpoliciesandaccountingestimates.
2.ContinuationTheCompanyhasnomajordoubtontheabilityofcontinuationandotherinfluencingfactorsfor12monthssincetheendoftheReportingPeriod.
V.SignificantaccountingpoliciesandaccountingestimatesSpecificaccountingpoliciesandaccountingestimatesreminders:
None.
1.StatementoncompliancewithAccountingStandardsforBusinessEnterprises
Thefinancialstatementspreparedonthebasisofabovecompilingfoundationgiveatrueandfullviewofthefinancialposition,operatingresults,cashflowandotherrelevantinformationoftheCompany,conformingtotherequirementsofthelatestAccountingStandardsforBusinessEnterprisesanditsapplicationguidelines,interpretationsaswellasotherrelevantprovisions(collectivelyreferredtoas"AccountingStandardsforBusinessEnterprises")issuedbytheMinistryofFinance.
Additionally,thepresentationanddisclosurerequirementsoftheNo.15RulesforthePreparationandPresentationofInformationDisclosureofCompaniesOfferingSecuritiestothePublic-GeneralProvisionsonFinancialReporting(revisedin2023)issuedbytheCSRCweretakenasreferenceinthefinancialreport.
2.Accountingperiod
ThefiscalyearoftheCompanyadoptstheGregoriancalendaryear,thatis,fromJanuary1toDecember31everyyear.
3.Operatingcycle
ThefinancialyearoftheCompanyadoptstheGregoriancalendaryear,thatis,fromJanuary1toDecember31everyyear.
4.Recordingcurrency
ThebookkeepingbasecurrencyisRMBfortheCompany.TheCompany'soverseassubsidiariesmaydeterminetheirownbookkeepingbasecurrenciesbasedonthecurrenciesinthemaineconomicenvironmentsfortheiroperation.Inpreparationoffinancialstatements,thecurrencyusedisRMB.
5.Methodfordeterminingmaterialitycriteriaandbasisforselection?Applicable□Notapplicable
Items | Materialitycriteria |
Accountsreceivablewithmajorsingleprovisionforbaddebts | TheendingbalanceofindividualaccountsreceivableandotherreceivablesisgreaterthanRMB1million |
Importantprojectsunderconstruction | SingleitemamountisgreaterthanRMB10million |
6.Accountingtreatmentforconsolidationunderthesamecontrolandunderdifferentcontrol
1.AccountingtreatmentforconsolidationunderthesamecontrolAssetsandliabilitiesobtainedbytheCompanyintheconsolidationunderthesamecontrolrealizedthroughonetransactionormultipletransactionsstepbystepwereaccountedbasedonbookvalueofassetsandliabilitiesoftheconsolidatedpartyintheconsolidatedfinancialstatementsofthefinalcontrolleronconsolidationdate.CapitalreservesshallbeadjustedaccordingtodifferencebetweenthebookvalueofnetassetsobtainedbytheCompanyandthepaymentforthebookvalueofconsolidationconsideration(ortotalnominalvalueoftheissuedshares).Ifthecapitalreserveisinsufficienttobeoffset,theretainedearningsshallbeoffset.
2.AccountingtreatmentforconsolidationunderdifferentcontrolTheCompany,atthedateofacquisition,recognizesthedifferenceofthecombinationcostgreaterthanthefairvalueshareoftheacquiree'snetidentifiableassetsobtainedinthecombinationasgoodwill;ifthecombinationcostislessthanthefairvalueshareoftheacquiree'snetidentifiableassetsobtainedinthecombination,theCompanyfirstre-checksthefairvalueoftheacquiree'sidentifiableassets,liabilitiesandcontingentliabilitiesaswellasthemeasurementofcombinationcost.Thedifferenceshallbeincludedinthecurrentprofitsandlosses,ifthecombinationcostisstilllessthanthefairvalueshareoftheacquiree'snetidentifiableassetsobtainedinthecombination.
Theconsolidationunderdifferentcontrolrealizedstepbystepthroughmultipletransactionsshallbetreatedasfollows:
(1)Adjustingtheinitialinvestmentcostoflong-termequityinvestment.Iftheequityheldbeforetheacquisitiondateiscalculatedwiththeequitymethod,itshallbere-measuredasperthefairvalueoftheequityatthedateofacquisition,andthedifferencebetweenthefairvalueanditsbookvalueshallbeincludedinthecurrentinvestmentincome;iftheequityoftheacquireeheldbeforetheacquisitiondateinvolveschangesinothercomprehensiveincomeandotherowner'sequityaccountedundertheequitymethod,itshallbetransferredtothecurrentincomeontheacquisitiondate,excludingothercomprehensiveincomearisingfromchangesinnetliabilitiesornetassetsofthedefinedbenefitplanandchangesinthefairvalueofotherequityinstrumentsheldre-measuredbytheinvestee.
(2)Recognizinggoodwill(oramountincludedinthecurrentprofitsandlosses).Theinitialinvestmentcostoflong-termequityinvestmentafterthefirststepadjustmentiscomparedwiththefairvalueshareofnetidentifiableassetsofsubsidiariesatthedateofacquisition.Iftheformerisgreaterthanthelatter,thedifferenceisrecognizedasgoodwill;otherwise,itisincludedinthecurrentprofitsandlosses.
Thesituationofdisposingequitystepbystepthroughmultipletransactionstolosingcontroloversubsidiaries
(1)Judgingwhetherthetransactionsintheprocessofdisposingequitystepbysteptolosingcontroloversubsidiariesbelongtotheprincipleof"packagetransaction"
Theterms,conditionsandeconomicimpactoftransactionsrelatingtodisposalofequityinvestmentinsubsidiariesmeetoneormoreofthefollowingcircumstances,whichgenerallyindicatesthatmultipletransactionsshallbeaccountedforasapackagetransaction:
1)Suchtransactionsareconcludedatthesametimeorunderthesituationofconsideringtheimpactoneachother;
2)Onlycantheunityofsuchtransactionsreachanintegralcommercialresult;
3)Theoccurrenceofatransactionisbasedontheoccurrenceofatleastoneofothertransactions;
4)Atransactionisregardedasuneconomic,butbeingeconomicwhenregardedalongwithothertransactions.
(2)Accountingtreatmentfortransactionsintheprocessofdisposingequitystepbysteptolosingcontroloversubsidiariesbelongingto"packagetransaction"
Ifthetransactionsrelatingtodisposalofequityinvestmentinsubsidiariestolosingcontroloversubsidiariesbelongto"packagetransaction",theseshallbetreatedasatransactionfordisposingthesubsidiaryandlosingcontrol;however,thedifferencebetweenthepriceofeverydisposalandthenetassetsshareheldinthesubsidiarycorrespondingtothedisposalofinvestmentbeforelosingcontrolshallberecognizedasotherconsolidatedincomeintheconsolidatedfinancialstatements,whichshallbetransferredtothecurrentprofitsandlossesatthetimeoflosingcontrol.
Intheconsolidatedfinancialstatements,theremainingequityshallbere-measuredaccordingtoitsfairvalueonthedateoflosingcontrol.Thedifferencebetweenthesumofconsiderationobtainedfromequitydisposalandfairvalueofremainingequitylessthenetassetsshareheldinoriginalsubsidiaryandcontinuouslycalculatedfromthedateofacquisitionaspertheoriginalshareholdingratioshallbeincludedintheinvestmentincomeofthecurrentperiodoflossofcontrol.Othercomprehensiveincomerelatedtotheequityinvestmentinoriginalsubsidiaryshallbetransferredtothecurrentinvestmentincomeorretainedearningsatthetimeoflosingcontrol.
(3)Accountingtreatmentfortransactionsintheprocessofdisposingequitystepbysteptolosingcontroloversubsidiariesnotbelongingto"packagetransaction"
Ifnolossofcontroloccursinthedisposaloftheinvestmentinthesubsidiary,thedifferencebetweenthedisposalpriceandthenetassetsshareheldinthesubsidiarycorrespondingtothedisposalofinvestmentintheconsolidatedfinancialstatementsshallbeincludedinthecapitalreserve(capitalpremiumorsharepremium).Ifthecapitalpremiumisinsufficienttooffset,theretainedearningsshallbeadjusted.Incaseoflossofcontroloftheinvestmentofthesubsidiary,intheconsolidatedfinancialstatements,theremainingequityshallbere-measuredaccordingtoitsfairvalueonthedateoflosingcontrol.Thedifferencebetweenthesumofconsiderationobtainedfromequitydisposalandfairvalueofremainingequitylessthenetassetsshareheldinoriginalsubsidiaryandcontinuouslycalculatedfromthedateofacquisitionaspertheoriginalshareholdingratioshallbeincludedintheinvestmentincomeofthecurrentperiodoflossofcontrol.
Othercomprehensiveincomerelatedtotheequityinvestmentinoriginalsubsidiaryshallbetransferredtothecurrentinvestmentincomeorretainedearningsatthetimeoflosingcontrol.
7.CriteriafordeterminingcontrolandmethodsforpreparingconsolidatedfinancialstatementsThescopeofconsolidationoftheCompany'sconsolidatedfinancialstatementsshallbedeterminedonthebasisofcontrol.ControlreferstothattheCompanyhaspowerovertheinvestee,enjoysvariablereturnsthroughparticipationintherelevantactivitiesoftheinvestee,andhastheabilitytouseitspowerovertheinvesteetoinfluencetheamountofitsreturns.Relevantactivitiesarethoseactivitiesthathaveasignificantimpactonthereturnsoftheinvestee.Therelevantactivitiesoftheinvesteeshallbejudgedbasedonthespecificcircumstances,andusuallyincludethesaleandpurchaseofgoodsorservices,themanagementoffinancialassets,thepurchaseanddisposalofassets,researchanddevelopmentactivities,andfinancingactivities.
TheCompanymakesadeterminationastowhetheritcontrolsaninvesteebasedonacomprehensiveconsiderationofallrelevantfactsandcircumstances.Oncechangesinrelevantfactsandcircumstancesresultinchangesintherelevantelementsinvolvedinthedefinitionofcontrol,theCompanywillreassess.
Theconsolidatedfinancialstatements,basedonthefinancialstatementsoftheparentcompanyanditssubsidiaries,arepreparedbytheCompanyinaccordancewiththeAccountingStandardsforBusinessEnterprisesNo.33-ConsolidatedFinancialStatementsandwithreferencetootherrelevantinformation.
8.Classificationofjointventurearrangementsandaccountingtreatmentforjointoperation
1.Identificationandclassificationofjointventurearrangements
Jointventurearrangementreferstoanarrangementunderjointcontrolbytwoormoreparties.Thejointventurearrangementhasthefollowingfeatures:(1)allpartiesareboundbythearrangement;(2)twoormorepartiesjointlycontrolthearrangement.Nosinglepartycancontrolthearrangementsolely,andanypartywithjointcontroloverthearrangementcanpreventotherpartiesoracombinationofpartyalliancefromcontrollingthearrangementalone.
Jointcontrolreferstothecommoncontrolofanarrangementinaccordancewithrelevantagreements,andtheactivitiesrelatedtothearrangementmustbeagreeduponbythepartiesholdingcontrolrightbeforethedecisioncanbemade.
Jointventurearrangementincludesjointoperationandjointventure.Jointoperationisthejointventurearrangementinwhichthejointventurepartyholdstherelevantassetsofthearrangementandassumestherelevantliabilities.Jointventurereferstoajointventurearrangementinwhichthejointventurepartyhasrightsonlytothenetassetsofthearrangement.
2.Accountingtreatmentforjointventurearrangement
Partiesinjointoperationshallrecognizethefollowingitemsrelatedtotheirshareofinterestsinjointoperation,andperformaccountingtreatmentinaccordancewiththerelevantprovisionsoftheAccountingStandardsforBusinessEnterprises:(1)recognizetheassetsheldseparatelyandthoseheldjointlyaspertheirshare;(2)recognizetheliabilitiesassumedseparatelyandthoseassumedjointlyaspertheirshare;(3)recognizetheincomegeneratedfromthesaleofitsshareofjointoperationoutput;(4)recognizetheincomefromthesaleoftheoutputofthejointoperationasperitsshare;(5)recognizetheexpensesincurredseparatelyandthoseincurredinthejointoperationasperitsshare.
ThepartiesofajointventureshallmakeaccountingtreatmentfortheinvestmentinthejointventureinaccordancewiththeAccountingStandardsforBusinessEnterprisesNo.2-Long-termEquityInvestment.
9.Standardsfordeterminingcashandcashequivalents
Cashinthecashflowstatementreferstocashonhandanddepositsthatareavailableforpaymentatanytime.Cashequivalentsrefertoinvestmentswithshortterm(generallyduewithinthreemonthsfromthedateofpurchase),strongliquidity,easytoconvertintoknownamountofcashandlowriskofvaluechange.
10.Foreigncurrencytransactionandforeigncurrencystatementtranslation
1.Thetranslationofforeigncurrencytransactions
Whenforeigncurrencytransactionsareinitiallyrecognized,theyareconvertedintoRMBatthespotexchangerateonthetransactiondate.Onthebalancesheetdate,foreigncurrencymonetaryitemsaretranslatedatthespotexchangerateonthebalancesheetdate.Theexchangedifferencearisingfromdifferentexchangeratesshallbeincludedinthecurrentprofitsandlosses,exceptfortheexchangedifferenceoftheprincipalandinterestofforeigncurrencyspecialborrowingsrelatedtotheacquisitionandconstructionofassetsthatmeetthecapitalizationconditions;foreigncurrencynon-monetaryitemsmeasuredathistoricalcostshallbetranslatedatthespotexchangerateonthetransactiondate,withtheamountinRMBmaintainingunchanged;foreigncurrencynon-monetaryitemsmeasuredatfairvalueshallbetranslatedatthespotexchangerateonthedateofdeterminingfairvalue,withthedifferenceincludedinthecurrentprofitsandlossesorothercomprehensiveincome.
2.Translationofforeigncurrencyfinancialstatements
Theassetsandliabilitiesinbalancesheetshallbetranslatedatthespotexchangerateonthebalancesheetdate;exceptforthe"retainedearnings",otheritemsintheowner'sequityshallbeconvertedatthespotexchangerateonthetransactiondate;theincomeandexpenseintheincomestatementshallbeconvertedatthespotexchangerateonthetransactiondate.Thedifferenceintranslationofforeigncurrencyfinancialstatementsgeneratedfromtheaboveconversionisrecognizedasothercomprehensiveincome.
11.Financialinstruments
1.Recognitionandderecognitionoffinancialinstruments
WhentheCompanybecomesonepartyofthefinancialinstrumentcontract,itshallrecognizeafinancialassetorfinancialliability.Thetradingoffinancialassetsinaconventionalmannershallberecognizedandderecognizedaccordingtotheaccountingofthetradingday.Conventionaltradingoffinancialassetsreferstothecollectionordeliveryoffinancialassetswithinthetimelimitspecifiedbylawsandregulationsorcommonpracticeinaccordancewiththetermsofthecontract.TradingdayreferstothedatewhentheCompanypromisestobuyorsellfinancialassets.Ifthefollowingconditionsaremet,thefinancialassets(orapartoffinancialassets,orapartofasetofsimilarfinancialassets)shallbederecognized,i.e.,theyshallbewrittenofffromitsaccountsandbalancesheets:
(1)Therighttoreceivecashflowoffinancialassetshasexpired;
(2)Therighttoreceivecashflowoffinancialassetshasbeentransferred,ortheCompanyhasassumedtheobligationtotimelypaythefullamountofthecashflowreceivedtoathirdpartyunderthe"transferagreement";and(a)hastransferredsubstantiallyalltherisksandrewardsfromtheownershipoffinancialassets,or(b)abandonedthecontrolofthefinancialasset,thoughalmostallrisksandrewardsfromtheownershipofthefinancialassetareneithertransferrednorretained.
2.Classificationandmeasurementoffinancialassets
Atthetimeofinitialrecognition,thefinancialassetsoftheCompanyareclassifiedaccordingtotheCompany'sbusinessmodelforthemanagementoffinancialassetsandthecontractualcashflowcharacteristicsoffinancialassetsasfollows:financialassetsmeasuredatamortizedcost,financialassetsmeasuredatfairvaluethroughothercomprehensiveincome,andfinancialassetsmeasuredatfairvaluethroughcurrentprofitsandlosses.Thesubsequentmeasurementoffinancialassetsdependsonitsclassification.
TheclassificationoffinancialassetsisbasedontheCompany'sbusinessmodelforthemanagementoffinancialassetsandthecashflowcharacteristicsoffinancialassets.
(1)Financialassetsmeasuredatamortizedcost
Financialassetsthatmeetthefollowingconditionsatthesametimeareclassifiedasfinancialassetsmeasuredatamortizedcost:theCompany'sbusinessmodeofmanagingthefinancialassetsistocollectthecontractcashflowasthetarget;thecontracttermsofthefinancialassetstipulatethatthecashflowgeneratedonaspecificdateisonlythepaymentofprincipalandinterestbasedontheamountofoutstandingprincipal.Forsuchfinancialassets,theeffectiveinterestratemethodisadopted,andsubsequentmeasurementismadeatamortizedcost,andthegainsorlossesarisingfromamortizationorimpairmentareincludedinthecurrentprofitsandlosses.
(2)Debtinstrumentsinvestmentmeasuredatfairvaluewithchangesincludedinothercomprehensiveincome
Financialassetsthatmeetthefollowingconditionsatthesametimeareclassifiedasfinancialassetsmeasuredatfairvaluewiththeirchangesincludedinothercomprehensiveincome:theCompany'sbusiness
modeofmanagingthefinancialassetsaimstocollectthecontractcashflowandsellthem;thecontracttermsofthefinancialassetstipulatethatthecashflowgeneratedonaspecificdateisonlythepaymentofprincipalandinterestbasedontheamountofoutstandingprincipal.Forsuchfinancialassets,fairvalueisadoptedforsubsequentmeasurement.Thediscountorpremiumisamortizedusingtheeffectiveinterestratemethodandrecognizedasinterestincomeorexpense.Excepttheimpairmentlossandtheexchangedifferenceofforeigncurrencymonetaryfinancialassetsarerecognizedasthecurrentprofitsandlosses,thechangesinthefairvalueofsuchfinancialassetsarerecognizedasothercomprehensiveincomeuntiltheiraccumulatedgainsorlossesaretransferredintothecurrentprofitsandlosseswhenthefinancialassetisderecognized.Interestincomerelatedtosuchfinancialassetsisincludedinthecurrentprofitsandlosses.
(3)EquityinstrumentsinvestmentmeasuredatfairvaluewithchangesincludedinothercomprehensiveincomeTheCompanyirrevocablychoosestodesignatepartofthenon-tradableequityinstrumentinvestmentasfinancialassetsmeasuredatfairvaluethroughothercomprehensiveincome.Onlytherelevantdividendincomeisincludedinthecurrentprofitsandlosses,andthechangesinfairvaluearerecognizedasothercomprehensiveincome,untiltheiraccumulatedgainsorlossesaretransferredintoretainedearningswhenthefinancialassetisderecognized.
(4)Financialassetsmeasuredatfairvaluewithchangesincludedinthecurrentprofitsandlosses
Thefinancialassetsotherthantheabovefinancialassetsmeasuredatamortizedcostandthoseatfairvaluethroughothercomprehensiveincomeareclassifiedasfinancialassetsmeasuredatfairvaluewithchangesincludedinthecurrentprofitsandlosses.Atthetimeofinitialrecognition,forthepurposeofeliminationorsignificantreductionofaccountingmismatch,financialassetscanbedesignatedasthosemeasuredatfairvaluewithchangesincludedinthecurrentprofitsandlosses.Forsuchfinancialassets,fairvalueisusedforsubsequentmeasurement,andallchangesinfairvalueareincludedinthecurrentprofitsandlosses.
IfandonlywhentheCompanychangesthebusinessmodelformanagingfinancialassets,itwillreclassifyalltheaffectedfinancialassets.
Forthefinancialassetsmeasuredatfairvalueandwhosechangesareincludedinthecurrentprofitsandlosses,therelevanttransactioncostsaredirectlyincludedinthecurrentprofitsandlosses,andsuchcostsofothertypesoffinancialassetsareincludedintheinitialrecognitionamount.
3.Classificationandmeasurementoffinancialliabilities
Duringinitialrecognition,theCompany'sfinancialliabilitiesareclassifiedas:"financialliabilitiesmeasuredatamortizationcost"and"financialliabilitiesmeasuredatfairvaluewiththeirchangesincludedintothecurrentprofitandloss".
Financialliabilitiessatisfyingoneofthefollowingrequirementscanbedesignatedasfinancialliabilitiesmeasuredatfairvaluewiththeirchangesincludedinthecurrentprofitandlossduringinitialmeasurement:(1)Suchdesignationcaneliminateorremarkablyreducetheaccountingmismatch;(2)Accordingtogrouprisk
managementorinvestmentstrategyintheformalwrittendocuments,themanagementandperformanceevaluationoftheportfoliooffinancialliabilitiesorportfoliooffinancialassetsandfinancialliabilitiesareconductedonthebasisoffairprice,andwithintheGroup,itisreportedtothekeymanagementpersonnelonsuchbasis;(3)Suchfinancialliabilitiesincludeembeddedderivativesrequiringseparatesplitting.
TheCompanydeterminestheclassificationoffinancialliabilitiesatthetimeoftheinitialrecognition.Forthefinancialliabilitiesmeasuredatfairvaluewithchangesincludedinthecurrentprofitsandlosses,therelevanttransactioncostsaredirectlyincludedinthecurrentprofitsandlosses,andsuchcostsofotherfinancialliabilitiesareincludedintheinitialrecognitionamount.Thesubsequentmeasurementoffinancialliabilitiesdependsonitsclassification:
(1)Financialliabilitiesmeasuredatamortizedcost
Forsuchfinancialliabilities,theeffectiveinterestratemethodisadoptedandthesubsequentmeasurementisconductedaspertheamortizedcost.
(2)Financialliabilitiesmeasuredatfairvaluewithchangesincludedinthecurrentprofitsandlosses
Suchfinancialliabilitiesincludetradablefinancialliabilities(includingderivativesthatbelongtofinancialliabilities)andfinancialliabilitiesdesignateduponinitialrecognitionasthosemeasuredatfairvaluewithchangesincludedinthecurrentprofitsorlosses.
4.Setoffoffinancialinstruments
Ifthefollowingconditionsaremetatthesametime,financialassetsandfinancialliabilitiesarepresentedinthebalancesheetatthenetamountafteroffsettingeachother:theCompanyhasthelegalrighttooffsettherecognizedamount,whichiscurrentlyenforceable;theyplantosettleatthenetamount,orrealizethefinancialassetsandpayoffthefinancialliabilitiesatthesametime.
5.Impairmentoffinancialassets
TheCompanyrecognizesthelossprovisionbasedontheexpectedcreditlossforthefinancialassetsmeasuredattheamortizedcost,thedebtinstrumentinvestmentandfinancialguaranteecontractmeasuredatthefairvalueandwhosechangesareincludedinothercomprehensiveincome.Theterm"creditloss"referstothedifferencebetweenallthecontractualcashflowsthattheCompanydiscountedattheoriginaleffectiveinterestrateandreceivedaccordingtothecontractandalltheexpectedcashflows,i.e.,thepresentvalueofallthecashshortage.
Uponconsideringallreasonableandwell-foundedinformation(includingforward-lookinginformation),theCompanyestimatestheexpectedcreditimpairmentlossiswithdrawnfor"financialassetsmeasuredatamortizedcost"and"financialasset(debtinstruments)measuredatfairvaluewiththeirchangesincludedinothercomprehensiveincome"insingleorcombinedmanner.
(1)Generalmodelofexpectedcreditloss
Ifthecreditriskofthisfinancialinstrumenthasincreasedobviouslysinceinitialrecognition,theCompanywillmeasurethelossreservesaccordingtotheexpectedcreditlossamountofsuchfinancialinstrumentinthewholeduration;ifthecreditriskofthisfinancialinstrumenthasn'tincreasedobviouslysinceinitialrecognition,theCompanywillmeasurethelossreservesaccordingtotheexpectedcreditlossamountofsuchfinancialinstrumentinthenext12months.Theincreasedorreversedamountofthelossprovisionsarisingtherefromshallbeincludedinthecurrentprofitsandlossesasimpairmentlossesorgains.ThespecificassessmentofcreditriskbytheCompanyisdetailedintheNote"XI.RisksAssociatedwithFinancialInstruments".Generally,incaseofoverdueformorethan30days,theCompanywillconsiderthatthecreditriskofsuchfinancialinstrumenthasincreasedobviously,unlessconclusiveevidenceisavailabletoprovethatthecreditriskofsuchfinancialinstrumenthasn'tobviouslyincreasedsincetheinitialrecognition.
Tobespecific,theCompanydividesthecreditimpairmentprocessoffinancialinstrumentsthathavenotbeenimpairedatthetimeofpurchaseororiginationintothreestages,withdifferentaccountingtreatmentfortheimpairmentoffinancialinstrumentsatdifferentstages:
Firststage:creditriskhasnotincreasedsignificantlysinceinitialrecognition
Forthefinancialinstrumentatthisstage,theenterpriseshallmeasurethelossprovisionaccordingtotheexpectedcreditlossinthenext12months,andcalculatetheinterestincomeasperitsbookbalance(i.e.withoutdeductingtheprovisionforimpairment)andtheactualinterestrate(iftheinstrumentisafinancialasset,thesamebelow).
Secondstage:thecreditriskhasincreasedsignificantlysincetheinitialrecognition,butthecreditimpairmenthasnotoccurred
Forthefinancialinstrumentatthisstage,theenterpriseshallmeasurethelossprovisionaccordingtotheexpectedcreditlossoftheinstrumentthoughtthewholeduration,andcalculatetheinterestincomeasperitsbookbalanceandtheactualinterestrate.
Thirdstage:creditimpairmentoccursafterinitialrecognition
Forthefinancialinstrumentatthisstage,theenterpriseshallmeasurethelossprovisionaccordingtotheexpectedcreditlossoftheinstrumentthoughtthewholeduration,butthecalculationofinterestincomeisdifferentfromthefinancialassetsatthefirsttwostages.Forthefinancialassetswithcreditimpairment,theenterpriseshallcalculatetheinterestincomeaccordingtoitsamortizedcost(bookbalanceminusaccruedprovisionforimpairment,i.e.bookvalue)andtheactualinterestrate.
Forthefinancialassetswithcreditimpairmentatthetimeofpurchaseororigination,theenterpriseshallonlyrecognizethechangeofexpectedcreditlossinthewholedurationafterinitialrecognitionaslossprovision,andcalculatetheinterestincomeasperitsamortizedcostandtheeffectiveinterestrateadjustedbycredit.
(2)Receivablesandleasereceivables
TheCompanymeasuresthelossprovisionsaspertheamountofexpectedcreditlossesthroughoutthewholedurationbytheuseofsimplifiedmodelforexpectedcreditlossforreceivablesspecifiedinAccounting
StandardsforBusinessEnterprisesNo.14-Income,excludingsignificantfinancingcomponents(includingcasesinwhichfinancingcomponentsincontractsnotexceedingoneyeararenottakenintoaccountinaccordancewiththestandards).TheCompanymakesaccountingpolicychoicestoadoptasimplifiedmodelforexpectedcreditloss,i.e.,measuringthelossprovisionsaspertheamountequivalenttotheexpectedcreditlossthroughoutthewholedurationforreceivablesincludingsignificantfinancingcomponentsandleasereceivablesregulatedbyAccountingStandardsforBusinessEnterprisesNo.21-Leasing.
6.TransferoffinancialassetsThefinancialassetsshallbederecognizedwhentheCompanyhastransferredalltherisksandrewardsontheownershipofthefinancialassetstothetransferee.ThefinancialassetsshallnotbederecognizediftheCompanyretainsalltherisksandrewardsontheownershipofthefinancialassets.IftheCompanyneithertransfersnorretainsalmostalltherisksandrewardsintheownershipofthefinancialasset,thefollowingconditionsshallbereferredto:ifitgivesupthecontroloverthefinancialasset,itshallterminatetherecognitionofthefinancialassetandrecognizetheassetsandliabilitiesgenerated;ifitdoesnotabandonthecontroloverthefinancialasset,therelevantfinancialassetsshallberecognizedaccordingtotheextenttowhichitcontinuestobeinvolvedinthetransferredfinancialasset,andtherelevantliabilitiesshallberecognizedaccordingly.
Ifthefinancialguaranteeisprovidedtothetransferredfinancialassetstocontinuetobeinvolved,theassetsgeneratedfromthecontinuedinvolvementshallberecognizedaccordingtothelowerofthebookvalueofthefinancialassetsandtheamountoffinancialguarantee.Financialguaranteeamountreferstothemaximumamountthatwillberequiredtoberepaidoutofconsiderationreceived.
12.Notesreceivable
TheCompanydividesnotesreceivableintotwoportfoliosofbankacceptancebillsandcommercialacceptancebillsbytypeoffinancialinstrument.Withrespecttobankacceptancebills,theCompanyconsidersitsoverduedefaultrisktobe0forithaslowoverduecreditlosswhichhasnotsignificantlyincreasedsincetheinitialrecognition,becausetheacceptancebankpaysthepayeeorholderacertainamountunconditionallywhenthebillisdue.Inrespectofcommercialacceptancebills,theCompanybelievesthattheprobabilityofdefaultiscorrelatedwiththeaging,andthebaddebtsshallbeaccruedaccordingtotheaccountingpolicyofexpectedcreditlossofaccountsreceivable.
13.Accountsreceivable
TheCompanymeasuresthelossprovisionsaspertheamountofexpectedcreditlossesthroughoutthewholedurationbytheuseofsimplifiedmodelforexpectedcreditlossforreceivablesspecifiedinAccountingStandardsforBusinessEnterprisesNo.14-Income,excludingsignificantfinancingcomponents(includingcasesinwhichfinancingcomponentsincontractsnotexceedingoneyeararenottakenintoaccountin
accordancewiththestandards).Theincreasedorreversedamountoflossprovisionsgeneratedtherefromshallbeincludedinthecurrentprofitsandlossesasimpairmentlossesorgains.TheCompanyhasimplementedAccountingStandardNo.22-RecognitionandMeasurementofFinancialInstruments(CK[2017]No.7)sinceJanuary1,2019.TheCompanybelievesthattheprobabilityofdefaultisrelatedtotheaging,whichisstillamarkofwhetherthecreditriskoftheCompany'saccountsreceivableincreasessignificantly,afterithasreviewedtheappropriatenessoftheprovisionforbaddebtsreceivableinpreviousyearsbasedontheCompany'shistoricalbaddebtlosses.Therefore,creditrisklossoftheCompany'saccountsreceivableisstillestimatedonthebasisofagingaccordingtotheoriginallossratioofpreviousyears.TheaccountingpoliciesformeasuringoverduecreditlossofaccountsreceivableadoptedbytheCompanyareasfollows:
1.ReceivableswithsignificantindividualamountandindividualprovisionforbaddebtsSignificantindividualamountreferstotheamountofwhichtheendingbalanceofindividualreceivablesismorethanRMB1million.
Attheendoftheperiod,aseparateimpairmenttestwillbecarriedoutontheindividualreceivableswithsignificantamount.Ifthereisobjectiveevidencethatitisimpaired,theimpairmentlossshallberecognizedwithprovisionforbaddebtsaccordingtothedifferencebetweenthepresentvalueoffuturecashflowandthebookvalue.
2.Receivableswithprovisionforbaddebtsbyportfolio
Theindividualreceivableswithnotsignificantamountattheendoftheperiod,togetherwiththereceivablesthathavenotbeenimpairedafterseparatetest,aredividedintoseveralportfoliosaccordingtotheagingasthecreditriskcharacteristics,andtheimpairmentlossiscalculatedanddeterminedaccordingtoacertainproportionoftheendingbalanceofthesereceivablesportfolio(theimpairmenttestcanbeconductedseparately),withprovisionforbaddebts.
Exceptforthereceivablesforwhichprovisionforimpairmenthasbeenmadeseparately,theCompanydeterminestheproportionforfollowingbaddebtprovisionbasedontheactuallossrateoftheportfolioofthesameorsimilarreceivablesinpreviousyearswiththeagingofreceivablesasthecreditriskfeatureandincombinationwiththecurrentsituation:
Aging | Estimatedlossofaccountsreceivable(note) | Estimatedlossofotherreceivables |
Within1year(including1year) | 3.10% | 5.00% |
1-2years(including2years) | 9.04% | 10.00% |
2-3years(including3years) | 22.11% | 30.00% |
3-4years(including4years) | 47.51% | 50.00% |
4-5years(including5years) | 84.26% | 80.00% |
Above5years | 100.00% | 100.00% |
Including:thosethathavebeendeterminedtobeirrecoverable | Write-off | Write-off |
Note:whenmeasuringtheexpectedcreditlossofreceivables,theCompanyhasreferredtothehistoricalexperienceofcreditlossandadjusteditbasedonforward-lookingestimates.
3.Receivableswithnotsignificantamountbutwithsingleprovisionforbaddebts
Reasonsforindividualprovisionforbaddebts:theCompanyconductsaseparateimpairmenttestforthereceivableswiththefollowingcharacteristics,althoughitsamountisnotsignificant.Ifthereisobjectiveevidencethatthereceivablesareimpaired,theimpairmentlossshallberecognizedwithprovisionforbaddebtsaccordingtothedifferencebetweenthepresentvalueoffuturecashflowandthebookvalue;receivablesthatareindisputewiththeotherpartyorinvolvedinlitigationorarbitration;receivablesthathaveobviousindicationsthatthedebtorislikelytobeunabletoperformtherepaymentobligation,etc.
Methodforbaddebtprovision:theimpairmenttestshallbeconductedseparately.Ifthereisobjectiveevidencethatithasbeenimpaired,theimpairmentlossshallberecognizedwithprovisionforbaddebtsaccordingtothedifferencebetweenthepresentvalueoffuturecashflowanditsbookvalue.
TheCompanymeasuresthelossprovisionsaspertheamountofexpectedcreditlossesthroughoutthewholedurationbytheuseofsimplifiedmodelforexpectedcreditlossforreceivablesspecifiedinAccountingStandardsforBusinessEnterprisesNo.14-Income,excludingsignificantfinancingcomponents(includingcasesinwhichfinancingcomponentsincontractsnotexceedingoneyeararenottakenintoaccountinaccordancewiththestandards).Theincreasedorreversedamountoflossprovisionsgeneratedtherefromshallbeincludedinthecurrentprofitsandlossesasimpairmentlossesorgains.
14.Receivablesfinancing
Financialassetsthatmeetthefollowingconditionsatthesametimeareclassifiedasfinancialassetsmeasuredatfairvaluewiththeirchangesincludedinothercomprehensiveincome:theCompany'sbusinessmodeofmanagingthefinancialassetsaimstocollectthecontractcashflowandsellthem;thecontracttermsofthefinancialassetstipulatethatthecashflowgeneratedonaspecificdateisonlythepaymentofprincipalandinterestbasedontheamountofoutstandingprincipal.
ThereceivablesheldbytheCompanytransferredintheendorsedordiscountedformthatsuchtransactionsarefrequentandinvolvesignificantamountsandthemanagementmodeaimstocollectthecontractcashflowandselltheminnature,areclassifiedasfinancialassetsmeasuredatfairvaluewiththeirchangesincludedinothercomprehensiveincomeinaccordancewiththerelevantprovisionsoftheFinancialInstrumentsStandards.
15.Otherreceivables
Recognitionmethodsandaccountingtreatmentofexpectedcreditlossesofotherreceivables.TheCompanymeasurestheimpairmentlossbyanamountequivalenttotheexpectedcreditlosswithinthenext12monthsorovertheentireduration,dependingonwhetherthecreditriskofotherreceivableshasincreasedsignificantlysincetheinitialrecognition.Inadditiontootherreceivableswithindividualcreditriskassessment,theyaredividedintodifferentportfoliosbasedontheircreditriskcharacteristics:
Portfolioname | Basisfordeterminingtheportfolios | Provisionmethods |
PortfolioI | Risk-freeportfolio | Thisportfolioisarisk-freeaccount. |
PortfolioII | Agingportfolio | Thecreditriskoftheportfolioischaracterizedbytheaging. |
16.Contractassets
1.RecognitionmethodsandstandardsforthecontractualassetsTheCompanypresentscontractualassetsorcontractliabilitiesinthebalancesheetbasedontherelationshipbetweenperformanceobligationsandcustomerpayments.TheCompany'srighttoreceiveconsiderationforgoodsorservicestransferredtocustomers(excludingreceivables)islistedascontractualassets.
2.TherecognitionmethodandaccountingtreatmentforexpectedcreditlossofcontractualassetsTheCompanymeasuresthelossprovisionsaspertheamountofexpectedcreditlossesthroughoutthewholedurationbytheuseofsimplifiedmodelforexpectedcreditlossforreceivablesspecifiedinAccountingStandardsforBusinessEnterprisesNo.14-Income,excludingsignificantfinancingcomponents(includingcasesinwhichfinancingcomponentsincontractsnotexceedingoneyeararenottakenintoaccountinaccordancewiththestandards).Theincreasedorreversedamountoflossprovisionsgeneratedtherefromshallbeincludedinthecurrentprofitsandlossesasimpairmentlossesorgains.TheCompanymeasuresthelossprovisionsaspertheamountofexpectedcreditlossesthroughoutthewholedurationbytheuseofsimplifiedmodelforexpectedcreditlossforcontractualassetsincludingsignificantfinancingcomponents.
17.Inventories
1.ClassificationofinventoriesTheinventoryincludesthefinishedproductsorcommoditiesheldforsaleindailyactivities,theunfinishedproductsandthematerialsconsumedintheproductionorintheprovisionoflaborservices,etc.
2.PricingmethodofdeliveredinventoriesThedeliveredinventoriesaresubjecttotheweighted-averagesystem.
3.InventorysystemPerpetualinventorysystemistheinventories.
4.Amortizationmethodoflow-valueconsumablesandpackagingmaterialsOne-offwrite-offmethodisemployedforboththelow-valueconsumablesandthepackagingmaterials.
5.Recognitioncriteriaandprovisionmethodforinventoryrevaluationreserve
Onthebalancesheetdate,theinventoriesaremeasuredatthelowerofcostandnetrealizablevalue,andtheinventoryrevaluationreservesarecalculatedatthedifferencebetweenthecostofinventorycategoryandthenetrealizablevalue.Thenetrealizablevalueoftheinventoriesreadyforsaleisdeterminedattheestimatedsalepriceofsuchinventoriesminustheestimatedsalesexpensesandrelevanttaxesduringnormalproductionandoperation,andthatoftheinventoriestobeprocessedisdeterminedattheestimatedsalepriceofthefinishedproductsminusthecosts,salesexpensesandrelevanttaxesestimatedtobeincurreduptocompletionduringnormalproductionandoperation.Onthebalancesheetdate,thenetrealizablevaluesaredeterminedseparatelyandcomparedwiththecorrespondingcoststodeterminetheamountofwithdrawalorreversalofinventoryrevaluationreserveifapartofinventoryissubjecttothecontractualpriceagreementandtherestisnot.
18.Assetsheldforsale
1.Recognitioncriteriaandaccountingtreatmentfornon-currentassetsordisposalgroupsclassifiedasheldforsale
TheCompanyclassifiesgroupcomponents(ornon-currentassets)asheldforsaleiftheymeetallofthefollowingconditions:(1)theyarereadilyavailableforsaleintheircurrentstatebasedonthepracticeofsellingsuchassetsordisposalgroupsinsimilartransactions;and(2)itishighlylikelythatasalewilloccur,aresolutionhasbeenmadeonasaleplan,andafirmpurchasecommitmenthasbeenobtained(afirmpurchasecommitmentreferstoalegallybindingpurchaseagreementsignedbetweenanenterpriseandanotherparty,whichcontainsimportanttermssuchastransactionprice,time,andsufficientlyseverepenaltyforbreachofcontract,sothatthepossibilityofsignificantadjustmentorcancellationoftheagreementisextremelysmall).Thesaleisexpectedtobecompletedwithinoneyear.Theapprovalrequiredbyrelevantauthoritiesorregulatorydepartmentshasbeenobtainedinaccordancewithrelevantregulations.
TheCompanyadjuststheestimatednetresidualvalueofassetsheldforsaletoreflectthenetamountofitsfairvaluelesssellingexpenses(butnotexceedingtheoriginalbookvalueoftheassetheldforsale).Thedifferencebetweentheoriginalbookvalueandtheadjustedestimatednetresidualvalueisrecordedinthecurrentprofitandlossasanassetimpairmentloss,andaprovisionforassetimpairmentheldforsaleismadeatthesametime.Theamountofassetimpairmentlossrecognizedforadisposalgroupheldforsaleshallfirstbeoffsetagainstthecarryingamountofgoodwillinthedisposalgroup,andthenthecarryingamountofeachnon-currentassetinthedisposalgroupthatissubjecttothemeasurementrequirementsoftheCriteriashallbeoffsetinproportiontoitsshare.
Ifthenetamountofthefairvalueofnon-currentassetsheldforsalelesssellingexpensesincreasesonsubsequentbalancesheetdates,theamountpreviouslywrittendownshallberestoredandreversedwithintheamountoftheassetimpairmentlossrecognizedafterclassificationasheldforsale,andthereversedamountshallbeincludedinthecurrentprofitandloss.Impairmentlossesrecognizedbeforetheassetisclassifiedasheldforsaleshallnotbereversed.Ifthenetamountofthefairvalueofadisposalgroupheldforsalelesssellingexpensesincreasesonsubsequentbalancesheetdates,theamountpreviouslywrittendownshallbe
restoredandreversedwithintheamountoftheassetimpairmentlossrecognizedfornon-currentassetsinaccordancewiththemeasurementrequirementsoftheCriteriaafterclassificationasheldforsale,andthereversedamountshallbeincludedinthecurrentprofitandloss.Thecarryingamountofgoodwillthathasbeenwrittenoffandtheimpairmentlossesonnon-currentassetssubjecttothemeasurementrequirementsoftheCriteriarecognizedbeforetheyareclassifiedasheldforsaleshallnotbereversed.Theamountofsubsequentreversalofimpairmentlossesrecognizedbyadisposalgroupheldforsaleshallbeincreasedinproportiontothecarryingamountsofvariousnon-currentassetsinthedisposalgroupthataresubjecttothemeasurementrequirementsoftheStandard,exceptgoodwill.Ifanenterpriselosescontroloverasubsidiaryduetosalesofitsinvestmentinthesubsidiaryorotherreasons,regardlessofwhethertheenterpriseretainspartoftheequityinvestmentafterthesale,itshallclassifytheinvestmentinthesubsidiaryasawholeasheldforsaleintheparentcompany'sindividualfinancialstatementsandclassifyallassetsandliabilitiesofthesubsidiaryasheldforsaleintheconsolidatedfinancialstatementswhentheinvestmentinthesubsidiarytobesoldmeetstheconditionsforclassificationasheldforsale.
2.CriteriafordeterminingandreportingdiscontinuedoperationsDiscontinuedoperationsrefertoseparatelyidentifiablecomponentsofanenterprisethatmeetanyofthefollowingconditionsandhavebeendisposedoforclassifiedasheldforsale:(1)thecomponentrepresentsanindependentmajorbusinessoraseparatemajoroperatingarea;(2)thecomponentispartofarelatedplantodisposeofanindependentmajorbusinessoraseparatemajoroperatingarea;or(3)thecomponentisasubsidiaryacquiredspecificallyforresale.
Thedefinitionofdiscontinuedoperationsincludesthefollowingthreeaspects:
(1)Thediscontinuedoperationsshallbeaseparatelyidentifiablecomponentoftheenterprise.Theoperationsandcashflowsofthiscomponentcanbeclearlydistinguishedfromotherpartsoftheenterprisewhentheenterpriseisoperatedandthefinancialstatementsareprepared.
(2)Thediscontinuedoperationsmustbeofacertainscale.Thediscontinuedoperationsshallrepresentaseparateprincipalbusinessoraseparatemajoroperatingarea,orbepartofarelatedplantodisposeofaseparateprincipalbusinessoraseparatemajoroperatingarea.
(3)Thediscontinuedoperationsmustmeetcertaintimingrequirements.Acomponentthatmeetsthedefinitionofdiscontinuedoperationsshallfallintooneofthefollowingtwosituations:thecomponenthasbeendisposedofbeforethebalancesheetdate,includingbeingsoldanddiscontinued(suchasshutdownorscrapped);thecomponenthasbeenclassifiedasheldforsalebeforethebalancesheetdate.
19.DebtinvestmentNone.
20.OtherdebtinvestmentNone.
21.Long-termreceivablesNone.
22.Long-termequityinvestment
1.Determinationofinvestmentcosts
(1)Iftheinvestmentcostisincurredinconsolidationunderthesamecontrolinwhichcasethecombiningpartypaysthecombinationconsiderationincash,bytransferringthenon-cashassets,undertakingthedebtsorissuingtheequitysecurities,theinitialinvestmentcostshallbedeterminedonthebasisoftheshareoftheowner'sequityofthecombinedpartyinthebookvalueoftheultimatecontrollingparty'sconsolidatedfinancialstatementsonthecombinationdate.Forthedifferencebetweentheinitialinvestmentcostoflong-termequityinvestmentandthebookvalueoftheconsiderationpaidforcombinationorthetotalfacevalueoftheissuedshares,thecapitalreserve(capitalpremiumorsharepremium)shallbeadjusted.Ifthecapitalreserveisinsufficienttobeoffset,theretainedearningsshallbeadjusted.Ifaconsolidationunderthesamecontrolisrealizedstepbystep,theinitialinvestmentcostshallbedeterminedonthebasisoftheshareoftheowner'sequityofthecombiningpartyinbookthatisobtainedfromthecombinedpartyonthecombinationdateandcalculatedatshareholdingratio.Forthedifferencebetweentheinitialinvestmentcostandthesumofthebookvalueoftheoriginallong-termequityinvestmentplusthebookvalueoftheconsiderationnewlypaidforacquiringfurthersharesonthecombinationdate,thecapitalreserve(capitalpremiumorsharepremium)shallbeadjusted.Ifthecapitalreserveisinsufficienttobeoffset,theretainedearningsshallbeadjusted.
(2)Iftheinvestmentcostisincurredintheconsolidationunderdifferentcontrol,theinitialinvestmentcostshallbedeterminedasthefairvalueoftheconsiderationpaidforcombinationonthepurchasedate.
(3)Investmentcostsotherthanthoseincurredinconsolidation:Theinitialinvestmentcostshallbethepurchasepricepaidactuallyiftheinvestmentisobtainedbypayingcash,thefairvalueoftheissuedequitysecuritiesifbyissuingtheequitysecurities,andthevaluespecifiedintheinvestmentcontractoragreementincaseofinvestmentfromaninvestor(unlesstheunfairvalueisspecifiedinthecontractoragreement).
2.Subsequentmeasurementandrecognitionmethodsforprofitsandlosses
Thelong-termequityinvestmentthattheCompanyhasthecontrolovertheinvesteeshallbecalculatedwithcostmethodinitsindividualfinancialstatement;thoseunderthesamecontrolorsignificantinfluenceshallbecalculatedwithequitymethod.
Ifthecostmethodisapplied,thelong-termequityinvestmentsshallbepricedattheinitialinvestmentcost.Thecashdividendsorprofitsdeclaredtobedistributedbytheinvesteeotherthanthosethathavebeendeclaredbutnotdistributedandincludedinthepriceorconsiderationpaidactuallywhentheinvestmentisobtainedshallberecognizedasthecurrentinvestmentincome,anditisnecessarytoconsiderwhetherthelong-terminvestmentisimpairedinaccordancewiththerelevantpolicyofassetimpairment.
Whentheequitymethodisapplied,iftheinitialinvestmentcostofalong-termequityinvestmentisgreaterthantheshareoffairvalueofidentifiablenetassetsentitledfromtheinvesteeatthetimeofinvestment,itshallbeincludedintheinitialinvestmentcostofthelong-termequityinvestment;otherwise,thedifferenceshallbeincludedinthecurrentprofitsandlossesandthecostoflong-termequityinvestmentshallbeadjusted.Whentheequitymethodisapplied,theprofitsandlossesoninvestmentshallberecognizedandthebookvalueofthelong-termequityinvestmentshallbeadjustedaccordingtoshareofthenetprofitsandlossesthatshallbeentitledorsharedandhavebeenrealizedbytheinvesteeafterthelong-termequityinvestmentisobtained.Whentheshareofthenetprofitandlossentitledfromtheinvesteeisrecognized,theproportionattributabletotheinvestorshallbecalculatedattheshareholdingratioafteroffsettingtheprofitsandlossesofinternaltransactionswithassociatedenterprisesandjointventures(fullamountshallberecognizedifthelossesofinternaltransactionsaretheassetimpairmentlosses)inlightoftheaccountingpoliciesandperiodoftheCompanyonthebasisofthefairvalueoftheidentifiableassetsoftheinvesteewhentheinvestmentisobtained,andthenetprofitoftheinvesteeshallberecognizedafteradjustment.Theportiontobedistributedshallbecalculatedwithreferencetotheprofitsorcashdividendsdeclaredtobedistributedbytheinvestee,andthebookvalueofthelong-termequityinvestmentshallbereducedaccordingly.IfanetlossoftheinvesteeconfirmedbytheCompany,thebookvalueofthelong-termequityinvestment,aswellasotherlong-termequityinvestmentwhichformthenetinvestmentoftheinvestmentunitsshallbewrittendownuntilzerolimits,exceptthattheCompanyhastoundertakeobligationsofadditionallosses.Thebookvalueofthelong-termequityinvestmentwasadjustedandincludedintheowner'sequityforotherchangesintheowner'sequityotherthanthenetprofitsandlossesoftheinvestee.
3.Basisfordeterminationofcontroloverandsignificantinfluenceontheinvestee
Controlreferstohavingthepowerovertheinvestee,beingentitledtovariablereturnsbyparticipatingintherelevantactivitiesoftheinvesteeandabletoinfluencetheamountofreturnbyexercisingthepowerovertheinvestee.Significantinfluencereferstothattheinvestorhastherighttoparticipateindecision-makingintermsofthefinancialandoperatingpoliciesoftheinvesteebuthasnorighttocontrolorjointlycontroltheformulationofthesepolicieswithotherparties.
4.Disposaloflong-termequityinvestments
(1)Partialdisposaloflong-termequityinvestmentsintosubsidiarieswithoutlossofcontrol
Thedifferencebetweenthedisposalpriceandthecorrespondingbookvalueofthedisposedinvestmentshallberecognizedasthecurrentinvestmentincomeincaseofpartialdisposaloflong-termequityinvestmentsintosubsidiarieswithoutlossofcontrol.
(2)Lossofcontroloversubsidiariesduetopartialdisposaloflong-termequityinvestmentsorotherreasons
Ifthecontroloverthesubsidiariesislostduetopartialdisposaloflong-termequityinvestmentsorotherreasons,thebookvalueofthelong-termequityinvestmentcorrespondingtothesoldequityshallbecarriedforwardforthedisposedequity,andthedifferencebetweenthesalespriceandthebookvalueofthedisposed
long-termequityinvestmentshallberecognizedasinvestmentincome(loss).Inaddition,theremainingequityshallberecognizedaslong-termequityinvestmentorotherrelatedfinancialassetsatitsbookvalue.Theremainingequityafterdisposalthathasjointcontrolorsignificantinfluenceonthesubsidiariesshallbesubjecttotheaccountingtreatmentinaccordancewiththerelevantregulationsontheconversionfromthecostmethodtotheequitymethod.
5.MethodsforimpairmenttestandprovisionofimpairmentreserveIfthereisanyobjectiveevidenceshowingthattheinvestmentsintosubsidiaries,associatedenterprisesandjointventuresareimpairedonthebalancesheetdate,theprovisionofimpairmentreserveshallbemadeaccordinglybasedonthedifferencebetweenthebookvalueandtherecoverableamount.
23.Investmentproperty
MeasurementmodelofinvestmentpropertyMeasurementwithcostmethodDepreciationoramortizationmethod
1.Investmentpropertyincludesleasedlanduserights,landuserightsheldandreadytobeassignedafterappreciation,andleasedbuildings.
2.Investmentpropertyismeasuredinitiallyatcostandsubsequentlywithcostmodel.Theprovisionfordepreciationandamortizationoftheinvestmentpropertyaremadeinthewayasusedforfixedassetsandintangibleassets.Ifthereisanysignshowingthattheinvestmentpropertyisimpairedonthebalancesheetdate,theprovisionofimpairmentreserveshallbemadeaccordinglybasedonthedifferencebetweenthebookvalueandtherecoverableamount.
SeeNoteIII.(XXIII)."Long-termAssetsImpairment"fordetailsofthemethodsforimpairmenttestandprovisionofimpairmentreserveapplicabletoinvestmentproperty.
Iftherealestateforprivateuseorinventoryisconvertedtoaninvestmentpropertyortheinvestmentpropertyisconvertedtoarealestateforprivateuse,thebookvaluebeforesuchconversionshallbedeemedastheentryvalueaftertheconversion.
Ifthepurposeofaninvestmentpropertyischangedtoprivateuse,thisinvestmentpropertyshallbeconvertedintoafixedorintangibleassetfromthedateofchange.Ifthepurposeofapropertyischangedtorentgainsorcapitalappreciationfromprivateuse,thefixedassetorintangibleassetshallbeconvertedintoaninvestmentpropertyfromthedateofchange.Ifthepurposeofapropertyischangedtorentgainsorcapitalappreciationfromprivateuse,thefixedassetorintangibleassetshallbeconvertedintoaninvestmentpropertyfromthedateofchange.Ifanyassetisconvertedintoaninvestmentpropertymeasuredwiththecostmodel,thebookvaluebeforetheconversionshallbedeemedastheentryvalueaftertheconversion.Ifanyassetisconvertedintoaninvestmentpropertymeasuredwiththefairvaluemodel,thefairvalueontheconversiondateshallbedeemedastheentryvalueaftertheconversion.
Aninvestmentpropertyshallbederecognizedifthisinvestmentpropertyisdisposedoforpermanentlyretired,anditisexpectedthatnoeconomicbenefitscanbeobtainedfromitsdisposal.Thedisposalincomefromthesale,transfer,scrappingordamageofaninvestmentpropertyshallbeincludedinthecurrentprofitsandlossesafterdeductingitsbookvalueandrelevanttaxesanddues.
24.Fixedassets
(1)Conditionsforrecognition
Fixedassetsrefertothetangibleassetsthatareheldforproductionofgoods,provisionoflaborservices,leaseoroperationmanagementandofwhichtheservicelifeexceedsonefiscalyear.
Fixedassetsshallberecordedattheactualcostupontheacquisitionandsubjecttotheprovisionforstraight-linedepreciationfromthenextmonthfollowingthedatewhentheyarereadyforuseasintended.
(2)Depreciationmethod
Category | Depreciationmethod | Depreciablelife | Residualrate | Annualdepreciationrate |
Housesandbuildings | Straight-linemethod | 20-40years | 5 | 2.375%-4.75% |
Machineryandequipment | Straight-linemethod | 10years | 5 | 9.50 |
Transportationequipment | Straight-linemethod | 5years | 5 | 19.00 |
Tooling | Straight-linemethod | 5years | 5 | 19.00 |
Electronicsandotherequipment | Straight-linemethod | 5years | 5 | 19.00 |
25.Constructioninprogress
1.Theconstructioninprogressshallbetransferredtofixedassetsattheactualcostoftheprojectwhenitisreadyforuseasintended.Ifaproductunderconstructionhasbeenreadyforuseasintendedbuthasnotundergonefinalsettlementofaccount,thisprojectshallbetransferredtofixedassetsattheestimatedvaluefirst.Afterfinalsettlementofaccountismade,theoriginaltemporaryestimatedvalueshallbeadjustedaccordingtotheactualcostwithoutadjustmentofdepreciationpreviouslyaccrued.
2.Ifthereisanysignshowingthataprojectunderconstructionisimpairedonthebalancesheetdate,theprovisionforimpairmentshallbemadeaccordinglyatthedifferencebetweenthebookvalueandtherecoverableamount.
26.Borrowingcosts
1.Recognitionprincipleforcapitalizingborrowingcost
BorrowingcostsoccurredbytheCompanythatmaybedirectlyattributabletotheacquisitionorconstructionofassetseligibleforcapitalization,arecapitalizedandaccountedinthecostofrelevantassets;
whileotherborrowingcostsarerecognizedasexpensesandaccountedintocurrentprofitsandlosseswheneveroccurred.
2.Capitalizationperiodofborrowingcosts
(1)Theborrowingcostsshallbecapitalizediftheymeetthefollowingconditions:1)Assetexpenditureshavebeenincurred;2)Borrowingcostshavebeenincurred;3)Acquisition,constructionorproductionactivitiesnecessaryfortheassetstoreachtheusableormarketablestateasintendedhavebegun.
(2)Thecapitalizationofborrowingcostsshallbediscontinuediftheacquisition,constructionorproductionofanassetthatmeetstheconditionsforcapitalizationisabnormallyinterruptedformorethan3successivemonths.Theborrowingcostsincurredduringtheperiodofinterruptionshallberecognizedascurrentexpensesuntiltheacquisition,constructionorproductionofassetsisresumed.
(3)Thecapitalizationofborrowingcostsshallceasewhenthepurchased,constructedorproducedassetsthatmeettheconditionsforcapitalizationreachestheintendedusableormarketablestate.
3.Capitalizedamountofborrowingcosts
Ifspecialborrowingsareforthepurposeofpurchase,constructionorproductionofassetsthatmeettheconditionsforcapitalization,theamountofinteresttobecapitalizedshallbedeterminedastheinterestexpensesactuallyincurred(includingtheamortizationofdiscountsorpremiumsdeterminedwiththeeffectiveinterestratemethod)inthecurrentperiodofthespecialborrowingminustheinterestincomefromtheunusedborrowingsthathavebeendepositedinthebankortheprofitfromtemporaryinvestmentbytheunusedborrowings.Ifgeneralborrowingsareusedforthepurposeofpurchase,constructionorproductionofassetsthatmeettheconditionsforcapitalization,theamountofinteresttobecapitalizedshallbedeterminedastheweightedaverageofassetexpenditurewithaccumulatedassetexpenditureexceedingspecialborrowingmultipliedbycapitalizationrateofthegeneralborrowingoccupied.
27.BiologicalassetsNone.
28.OilandgasassetsNone.
29.Intangibleassets
(1)Servicelifeanditsbasisfordetermination,estimation,amortizationmethodorreviewprocedure
1.IntangibleassetsoftheCompanyincludelandusageright,software,patentrightsandnon-patenttechnologies,etc.,andareinitiallymeasuredatcost.
2.Intangibleassetswithlimitedservicelifeshallbesystematicallyandreasonablyamortizedaccordingtotheexpectedrealizationmodeofeconomicbenefitsrelatedwithintheservicelife,andincasetheexpectedrealizationmodecannotbereliablydetermined,thestraight-linemethodshallbeadoptedforamortization.Thelandusagerightshallbeaveragelyamortizedwithintheremainingservicelife(generally50years),thesoftwareshallbeaveragelyamortizedwithin3-5years,andthepatentrightsandnon-patenttechnologieswithin5-10years.
3.Incaseofevidenceofimpairmentofintangibleassetswithdefinedservicelifeonthebalancesheetdate,correspondingprovisionforimpairmentshallbemadeaccordingtothedifferencebetweenthebookvalueandtherecoverableamount;Forintangibleassetswithuncertainservicelifeandintangibleassetsthathavenotreachedtheserviceablestate,theimpairmenttestsshallbecarriedouteveryyear,whethertherearesignsofimpairmentornot.
(2)ScopeofR&Dexpendituresandrelatedaccountingtreatmentmethods
ResearchstageexpendituresofinternalR&Dprojectsshallbeincludedinthecurrentprofitsandlossesatthetimeofoccurrence.Incasefollowingconditionshavebeenmetatthesametime,expenditureofinternalR&Dprojectsindevelopmentstageshallberecognizedasintangibleassets:(1)Itistechnicallyfeasibletocompletetheintangibleassetsforadoptionandsale;(2)Thereistheintentiontocompletetheintangibleassetsforadoptionandsale;(3)Thereexistwaysforintangibleassetstogenerateeconomicbenefits,includingtheevidencethatthereisamarketforproductsproducedbyusingtheintangibleassetsorfortheintangibleassets.Iftheintangibleassetswillbeusedinternally,itcanbeprovedthattheyareuseful;(4)Therearesufficienttechnical,financialandotherresourcestosupportthedevelopmentoftheintangibleassetsandtouseorselltheintangibleassets;(5)Expenditureoftheintangibleassetsindevelopmentstagecanbemeasuredreliably.
30.Long-termassetsimpairment
Theenterpriseshalljudgewhetherthereisanysignofpossibleassetsimpairmentonthebalancesheetdate.
Goodwillarisingfromconsolidationandintangibleassetswithuncertainservicelifeshallbetestedforimpairmenteveryyear,nomatterwhetherthereisanysignofimpairment.
Incaseoffollowingsigns,theassetsmaybeimpaired:
(1)Marketpriceofassetsfallssharplyinthecurrentperiod,whichissignificantlyhigherthantheexpecteddeclineduetotimeornormaluse;(2)Therearesignificantchangesincurrentandfutureeconomic,technologicalorlegalenvironmentinwhichtheenterpriseoperatesandthemarketwhereassetsarelocated,bringingadverseeffectsontheenterprise;(3)Themarketinterestrateorothermarketreturnoninvestmenthasbeenincreasedinthecurrentperiod,affectingthediscountrateoftheenterprisetocalculatethepresentvalueoftheexpectedfuturecashflowoftheassetsandresultinginasignificantdecreaseintherecoverableamountoftheassets;(4)Thereexistsevidenceshowingthattheassetshavebecomeobsoleteortheentityhasbeendamaged;(5)Assetshavebeenorwillbeidle,terminatedorplannedtobedisposedinadvance;(6)Evidencein
theinternalreportoftheenterpriseshowsthateconomicperformanceofassetshasbeenorwillbelowerthantheexpected,forinstance,thenetcashflowarisingfromassetsortherealizedoperatingprofit(orloss)isfarlower(orhigher)thantheexpectedamount,etc.(7)Otherindicationsshowingthatassetsmayhavebeenimpaired.Incaseofsignsofassetsimpairment,correspondingrecoverableamountshallbeestimated.Recoverableamountshallbedeterminedbasedonthehigherofthenetamountoffairvalueofassetsminusthedisposalexpensesandthepresentvalueofexpectedfuturecashflowofassets.Disposalexpensesincludelegalexpenses,relevanttaxesandhandlingfeesrelatedtodisposalofassetsaswellasdirectexpensesincurredtomaketheassetsmarketable.
Presentvalueofexpectedfuturecashflowofassetsshallbedeterminedbyselectinganappropriatediscountratebasedontheexpectedfuturecashflowgeneratedduringcontinuoususeandfinaldisposaloftheassets.Toestimatepresentvalueoffuturecashflowofassets,measuresshallbetakentocomprehensivelyconsiderfactorsastheexpectedfuturecashflow,servicelifeanddiscountrateoftheassets.Incaseofmeasurementresultofrecoverableamountshowingthatrecoverableamountoftheassetislowerthanitsbookvalue,thebookvalueshallbewrittendowntotherecoverableamount,andthewrittendownamountshallberecognizedastheassetimpairmentlossandincludedinthecurrentprofitsandlosses;besides,correspondingprovisionforassetimpairmentshallbemadeatthesametime.
31.Long-termdeferredexpenses
Long-termdeferredexpensesshallberecordedaccordingtotheactualamount,andshallbeaveragelyamortizedinthebenefitperiodorthespecifiedperiod.Incasefutureaccountingperiodcannotbenefitfromlong-termdeferredexpenses,allunamortizedvalueoftheitemshallbetransferredintothecurrentprofitsandlosses.
32.Contractualliabilities
TheCompanypresentscontractualassetsorcontractliabilitiesinthebalancesheetbasedontherelationshipbetweenperformanceobligationsandcustomerpayments.TheCompany'sobligationtotransfercommoditiesorservicestocustomersforconsiderationreceivedorreceivablebytheCompanyislistedascontractliability.
33.Employeecompensation
(1)Accountingtreatmentofshort-termcompensation
DuringtheaccountingperiodwhenemployeesprovideservicefortheCompany,theactualshort-termremunerationisrecognizedasliabilitiesandincludedinthecurrentprofitsandlossesortherelevantassetscost.Where,non-monetarywelfareshallbemeasuredatfairvalue.
(2)Accountingtreatmentofpost-employmentbenefitsPost-employmentbenefitmainlyincludesbasicendowmentinsurance,unemploymentinsuranceandsoon.Post-employmentbenefitplanincludesdefinedcontributionplan.Wherethedefinedcontributionplanisused,thecorrespondingamountshallberecordedintorelevantassetcostsorcurrentprofitsandlosses.
(3)AccountingtreatmentofdismissalbenefitsIncasetheCompanyterminateslaborrelationshipwithemployeespriortotheexpirationofemployee'slaborcontract,orofferscompensationtoencourageemployeestoacceptthelayoffvoluntarily,itshallconfirmthecompensationforterminationoflaborrelationshipwithemployeesandincludethecompensationamountinthecurrentprofitsandlossesattheearliertimewhenitfailstounilaterallywithdrawlaborrelationshipterminationplanorlayoffproposalandconfirmscostsrelatedtoreorganizationinvolvingthepaymentofdismissalbenefits.
(4)Accountingtreatmentofotherlong-termemployeebenefits.None.
34.EstimatedliabilitiesNone.
35.Share-basedpayment
1.Typesofshare-basedpaymentItincludesequity-settledshare-basedpaymentandcash-settledshare-basedpayment
2.Determinationmethodoffairvalueofequityinstrument
(1)Incaseofactivemarket,itshallbedeterminedaccordingtothequotedpriceintheactivemarket.
(2)Incaseofnoactivemarket,itshallbedeterminedbyadoptingvaluationtechnologies,includingreferringtopricesusedinrecentmarkettransactionsbypartiesfamiliarwiththesituationandwillingtotrade,currentfairvalueofotherfinancialinstrumentsthatareessentiallythesame,discountedcashflowmethodandoptionpricingmodel.
3.Basisforconfirmingthebestestimateofvestingequityinstruments
Estimationshallbebasedonthelatestavailablechangesonvestingemployeenumberandothersubsequentinformation.
4.Accountingtreatmentofimplementing,modifyingandterminatingshare-basedpaymentplan
(1)Equity-settledshare-basedpayment
Equity-settledshare-basedpaymentinexchangeforemployeeservicesthatcanbeexercisedimmediatelyafterthegrantshallbeincludedintherelevantcostsorexpensesaccordingtothefairvalueofequityinstrumentsonthegrantdate,andthecapitalreserveshallbeadjustedaccordingly.Forequity-settledshare-basedpaymentinexchangeforemployeeservicesonlyaftercompletingservicewithinthewaitingperiodorreachingthespecifiedperformanceconditions,itisrequiredtoincludetheservicesobtainedinthecurrentperiodintorelevantcostsorexpensesaccordingtothebestestimateofnumberofvestingequityinstrumentsandthefairvalueonthegrantdateofequityinstrumentsoneachbalancesheetdatewithinthewaitingperiod,andthecapitalreserveshallbeadjustedaccordingly.Forequity-settledshare-basedpaymentinexchangeforotherparty'sservices,ifthefairvalueofotherparty'sservicescanbereliablymeasured,itshallbemeasuredbasedonthefairvalueofotherparty'sservicesontheacquisitiondate;Incasethefairvalueofotherparty'sservicescannotbereliablymeasured,butthefairvalueofequityinstrumentscanbereliablymeasured,itshallbemeasuredbasedonthefairvalueofequityinstrumentsontheacquisitiondateandshallbeincludedinrelevantcostsorexpenses;besides,theowner'sequityshallbeincreasedaccordingly.
(2)Cash-settledshare-basedpayment
Cash-settledshare-basedpaymentinexchangeforemployeeservicesthatcanbeexercisedimmediatelyafterthegrantshallbeincludedinrelevantcostsorexpensesaccordingtothefairvalueoftheliabilitiesundertakenbytheCompanyonthegrantdate,andtheliabilitiesshallbeincreasedaccordingly.Forcash-settledshare-basedpaymentinexchangeforemployeeservicesonlyaftercompletingservicewithinthewaitingperiodorreachingthespecifiedperformanceconditions,itisrequiredtoincludetheservicesobtainedinthecurrentperiodintorelevantcostsorexpensesandrelevantliabilitiesaccordingtothebestestimateofvestingsituationandthefairvalueoftheliabilitiesassumedbytheCompanyoneachbalancesheetdatewithinthewaitingperiod.
(3)Modificationandterminationofshare-basedpaymentplan
Incaseofincreaseoffairvalueoftheequityinstrumentsgrantedduetomodification,theCompanyshallrecognizetheincreaseofservicesobtainedbasedontheincreaseoffairvalueofequityinstruments;Incaseofincreaseofthenumberofequityinstrumentsgrantedduetomodification,theCompanyshallrecognizethefairvalueoftheincreasedequityinstrumentsastheincreaseofservicesobtainedaccordingly.Besides,iftheCompanymodifiesvestingconditionsinawaybeneficialtoemployees,itshallconsiderallmodifiedvestingconditionswhendealingwiththevestingconditions.
Incaseofdecreaseoffairvalueoftheequityinstrumentsgrantedduetomodification,theCompanyshallcontinuetorecognizetheamountofservicesobtainedbasedonthefairvalueofequityinstrumentsonthegrantdatewithoutconsideringthedecreaseoffairvalueofequityinstruments;Incaseofdecreaseofthenumberofequityinstrumentsgrantedduetomodification,theCompanyshallrecognizethedecreasedpartasthecancellationofgrantedequityinstruments;Besides,iftheCompanymodifiesvestingconditionsinawaynot
beneficialtoemployees,itshallnotconsiderthemodifiedvestingconditionswhendealingwithvestingconditions.
IncasetheCompanycancelsorsettlesthegrantedequityinstrumentswithinthewaitingperiod(exceptthosecancelledduetofailuretomeetthevestingconditions),thecancellationorsettlementshallbeacceleratedforvesting,andtheamountoriginallyrecognizedintheremainingwaitingperiodshallberecognizedimmediately.
36.Preferredshares,perpetualbondsandotherfinancialinstrumentsNone.
37.RevenueDisclosingtheaccountingpoliciesadoptedforrevenuerecognitionandmeasurementbybusinesstype
1.Accountingpoliciesadoptedforrevenuerecognitionandmeasurement
(1)Revenuerecognition
TheCompany'srevenuemainlyincludessalesrevenueofintelligentcontroller,lithiumbattery,motorandcontrolsystem.
TheCompanyhasfulfilledperformanceobligationintheContract,thatis,recognizingrevenuewhenthecustomerobtainsthecontrolrightofrelevantcommodities.Obtainingofthecontrolrightofrelevantcommoditiesmeanstobeabletodominatetheuseofthecommoditiesandobtainalmostalleconomicbenefitsarisingtherefrom.
2.TheCompanyshalljudgethenatureofrelevantperformanceobligationsas"performanceobligationsfulfilledinacertainperiod"or"performanceobligationsfulfilledatacertaintimepoint"basedonrelevantprovisionsofrevenuestandards,andshallconfirmrevenueaccordingtothefollowingprinciplesrespectively.
IncasetheCompanymeetsoneofthefollowingconditions,itshallfulfilltheperformanceobligationswithinacertainperiodoftime:
①CustomersobtainandconsumeeconomicbenefitsarisingfromperformanceoftheCompanyduringtheCompany'sperformanceoftheContract.
②CustomerscancontroltheassetsunderconstructionduringtheCompany'sperformanceoftheContract.
③AssetsoftheCompanyduringtheperformanceoftheContractareirreplaceable,andtheCompanyshallbeentitledtocollectmoneyfortheperformancepartcompletedsofarinthewholecontractperiod.
Forperformanceobligationsfulfilledwithinacertainperiodoftime,theCompanyshallrecognizerevenueaccordingtotheperformanceprogresswithinthatperiod,exceptthattheperformanceprogresscannotbereasonablydetermined.TheCompanyshallconsiderthenatureofcommodities,andshalldeterminetheproperperformanceprogressbyadoptingtheoutputmethodortheinputmethod.
Forperformanceobligationsfulfilledatacertaintimepointratherthaninacertainperiod,theCompanyshallrecognizerevenueatthetimewhencustomersobtainthecontrolrightofrelevantcommodities.Whenjudgingwhethercustomershaveobtainedthecontrolrightofrelevantcommodities,theCompanyconsidersthefollowingsigns:
①TheCompanyshallbeentitledtoimmediatelycollectrevenuesfromcommodities,whichmeansthatcustomershavetheobligationtopayforcommoditiesimmediately.
②TheCompanyhastransferredthelegalownershipofcommoditiestocustomers,whichmeansthatcustomershaveobtainedthelegalownershipofcommodities.
③TheCompanyhastransferredcommoditiesinkindtocustomers,whichmeansthatcustomershavepossessedcommoditiesinkind.
④TheCompanyhastransferredmainrisksandrewardsrelatedtotheownershipofcommoditiestocustomers,whichmeansthatcustomershaveobtainedmainrisksandrewardsrelatedtotheownershipofcommodities.
⑤Customershaveacceptedthecommodities.
⑥Otherindicationsthatcustomershaveobtainedthecontrolrightofcommodities.
(3)Measurementofrevenue
TheCompanyshallmeasurerevenueaccordingtothetransactionpriceallocatedtoeachindividualperformanceobligation.Indeterminingthetransactionprice,theCompanyshallconsidertheinfluenceofvariableconsideration,significantfinancingcomponentsintheContract,non-cashconsideration,considerationpayabletocustomersaswellasotherfactors.1Variableconsideration
TheCompanyshalldeterminethebestestimateofvariableconsiderationaccordingtotheexpectedvalueorthemostlikelyamount,butthetransactionpriceincludingthevariableconsiderationshallnotexceedtheaccumulatedrecognizedrevenuethatwillnotbesignificantlyreversedwhenrelevantuncertaintyiseliminated.Whenevaluatingwhethertheaccumulativerecognizedrevenueisunlikelytobesignificantlyreversed,theenterpriseshallfurtherconsiderthepossibilityandproportionofrevenuereversal.
2Significantfinancingcomponents
IncaseofsignificantfinancingcomponentsintheContract,theCompanyshalldeterminethetransactionpriceaccordingtotheamountpayableincashwhenassumingthatcustomersobtainthecontrolrightofcommodities.Differencebetweenthetransactionpriceandthecontractconsiderationshallbeamortizedbyadoptingtheeffectiveinterestratemethodduringthecontractperiod.3Non-cashconsideration
Incasecustomerspaynon-cashconsideration,theCompanyshalldeterminethetransactionpriceaccordingtothefairvalueofthenon-cashconsideration.Incasethefairvalueofnon-cashconsiderationcannotbereasonablyestimated,theCompanyshallindirectlydeterminethetransactionpricebyreferringtotheseparatesellingpriceofcommoditiesfortransferringcommoditiestocustomersthatitpromises.
④Considerationpayabletocustomers
Considerationpayabletocustomersshallbewrittendownagainstthetransactionprice,andthecurrentincomeshallbeoffsetatthelaterofconfirmingrelevantincomeorpaying(orpromisingtopay)customer'sconsideration,exceptthattheconsiderationpayabletocustomersistoobtainotherclearlydistinguishablecommoditiesfromcustomers.
Incasetheconsiderationpayablebyanenterprisetocustomersistoobtainotherclearlydistinguishablecommoditiesfromcustomers,thepurchasedcommoditiesshallbeconfirmedinawayconsistentwithotherpurchasesoftheenterprise.Incasetheconsiderationpayablebyanenterprisetocustomersexceedsthefairvalueofaclearlydistinguishablecommodityobtainedfromthecustomer,theexcessamountshallbeusedtooffsetthetransactionprice.Incasethefairvalueofclearlydistinguishablecommoditiesobtainedfromcustomerscannotbereasonablyestimated,theenterpriseshalloffsetthetransactionpricewiththeconsiderationpayabletocustomersinfull.
2.ThespecificpoliciesofrevenuerecognitionoftheCompanyareasfollows:
IncasethesalescontractbetweentheCompanyandcustomershasbeendeemedasaperformanceobligationfulfilledatacertaintimepoint,thespecificrevenuerecognitionmethodshallbeformulatedaccordingtotheactualsituationoftheCompany'sproductsalesasfollows:
Domesticsales:①Thecustomerpicksupthegoodsincash.Afterthepaymentanddelivery,itisconsideredthatthecustomerhasobtainedthecontroloftherelevantgoods,andtheCompanyhasrecognizedthesalesrevenue;②Iftheadvancepaymentisusedforsettlement,andtheotherparty'scustomerconfirmationreceiptisobtainedafterthedelivery,itisconsideredthatthecustomerhasobtainedthecontroloftherelevantcommodities,andtheCompanyhasrecognizedthesalesrevenue;③Ifthecreditsaleisadoptedaccordingtoacertainpaymentperiod,withinwhichthecustomersettles,andafterthedelivery,theotherparty'scustomerconfirmationreceiptisobtained,itisconsideredthatthecustomerhasobtainedthecontroloftherelevantgoods,andtheCompanyhasrecognizedthesalesrevenue.
Foreignsales:theCompanyshalldelivercommoditiesaccordingtothesignedorder,holdspecialexportinvoice,deliverynoteandotheroriginaldocumentsforcustomsclearanceandexport,passcustomsaudit,completeexportdeclarationprocedures,obtainthecustomsdeclarationdocumentsasthepointoftransferofcontroloftherelevantgoods,andrecognizethesalesrevenuebyrecordingtherevenuebasedonthedeliveryorder,specialexportinvoiceandcustomsdeclarationform.ThesametypeofbusinessadoptingdifferentoperatingmodelsinvolvingdifferentrevenuerecognitionmethodsandmeasurementmethodsNone.
38.ContractualcostsContractualcostsaredividedintocontractperformancecostsandcontractacquisitioncosts.ThecostsincurredbytheCompanytoperformacontractshallberecognizedasanassetascontractperformancecostsifthefollowingconditionsaremetatthesametime:
1.Thecostsaredirectlyrelatedtoacurrentoranticipatedcontract,includingdirectlabor,directmaterials,manufacturingoverhead(orsimilarcosts),costsclearlybornebytheclient,andothercostsincurredsolelyforthecontract;
2.Thecostincreasestheresourcesthattheenterprisewillusetofulfillitsperformanceobligationsinthefuture;
3.Thecostsareexpectedtoberecovered.
TheCompanyrecognizestheincrementalcostsincurredtoobtainacontractasanassetifitexpectstorecovertheincrementalcostsincurredtoobtainthecontract;however,iftheassetisamortizedfornomorethanoneyear,itmaybeincludedinthecurrentprofitandlosswhenincurred.
Assetsrelatedtocontractualcostsareamortizedonthesamebasisasrevenuefromgoodsorservicesrelatedtotheasset.
Ifthecarryingamountofanassetrelatedtocontractualcostsexceedsthedifferencebetweenthefollowingtwoitems,theCompanywillmakeanprovisionforimpairmentfortheexcessandrecognizeitasanassetimpairmentloss:
1.Theremainingconsiderationexpectedtobeobtainedfromthetransferofgoodsorservicesrelatedtotheasset;
2.Theestimatedcoststobeincurredforthetransferoftherelevantgoodsorservices.
Iftheabove-mentionedprovisionforassetimpairmentissubsequentlyreversed,thebookvalueoftheassetafterthereversalshallnotexceedthebookvalueoftheassetonthereversaldateassumingnoprovisionforimpairmentwasmade.
39.Governmentsubsidies
1.Governmentsubsidiesincludegovernmentsubsidiesrelatedtoassetsandgovernmentsubsidiesrelatedtoincome.
2.Incasethegovernmentsubsidiescanbeincludedinmonetaryassets,theyshallbemeasuredaccordingtotheamountreceivedorreceivable;Incasethegovernmentsubsidiescanbeclassifiedasnon-monetaryassets,theyshallbemeasuredatfairvalue,andoncethefairvaluecannotbeobtainedreliably,theyshallbemeasuredinnominalamount.
3.Governmentsubsidiescalculatedbyadoptingthegrossmethod:
(1)Governmentsubsidiesrelatedtoassetsshallberecognizedasdeferredincomeandincludedinprofitsandlossesbystagesinareasonableandsystematicwaywithintheservicelifeofrelevantassets.Incaserelevantassetsaresold,transferred,scrappedordamagedpriortotheendoftheirservicelife,thebalanceofrelevantdeferredincomethathasnotbeenallocatedshallbetransferredtotheprofitsandlossesofthecurrentperiodofassetdisposal.
(2)Governmentsubsidiesrelatedtoincomeandusedtocompensaterelatedexpensesorlossesinthelaterperiodshallberecognizedasdeferredincome,andshallbeincludedinthecurrentprofitsandlossesduringtheperiodwhenrelatedexpensesarerecognized;subsidiesusedtocompensaterelevantexpensesorlossesincurredshallbedirectlyincludedinthecurrentprofitsandlosses.
4.Governmentsubsidiescalculatedbyadoptingthenetmethod:
(1)Governmentsubsidiesrelatedtoassetsshallbeusedtooffsetthebookvalueofrelevantassets;
(2)Governmentsubsidiesrelatedtoincomeandusedtocompensaterelatedexpensesorlossesinthelaterperiodshallberecognizedasdeferredincome,andshallbeusedtooffsetrelatedcostswhenrelatedexpensesarerecognized;subsidiesusedtocompensaterelevantexpensesorlossesincurredshallbedirectlyusedtooffsetrelatedcosts.
5.Forgovernmentsubsidiesincludingasset-relatedpartandincome-relatedpart,measuresshallbetakentodistinguishdifferentpartsandcarryoutaccountingtreatmentseparately;Partdifficulttodistinguishshallbeclassifiedasgovernmentsubsidiesrelatedtoincome.
6.ThegovernmentsubsidiesrelatedtothedailyactivitiesoftheCompanyshallbeincludedintootherincomesorusedtowritedownrelatedcostsandexpensesinaccordancewiththeessenceofeconomicoperations;thegovernmentsubsidiesindependentofthedailyactivitiesshallbeincludedintothenon-operatingincomeandexpense.
7.FordiscountinterestofpreferentialpolicyloanstobeobtainedbytheCompany,twomeasuresshallbeadopted,includingthattheMinistryofFinanceallocatesthediscountfundstothelendingbanksandthattheMinistryofFinanceallocatesthediscountfundstotheCompany:
(1)IncasetheMinistryofFinanceallocatesthediscountfundstothelendingbanks,andthelendingbankprovidesloanstotheCompanyatpreferentialpolicyinterestrate,theCompanyshallchoosethefollowingmethodsforaccountingtreatment:
1)Takingtheloanamountactuallyreceivedastheentryvalueoftheloan,andcalculatingrelevantborrowingcostsbasedontheloanprincipalandthepreferentialpolicyinterestrate.
2)Takingthefairvalueofloanastheentryvalue,calculatetheborrowingcostsbyadoptingtheeffectiveinterestratemethod,andrecognizingthedifferencebetweentheactualreceivedamountandthefairvalueoftheloanasdeferredincome.Deferredincomeshallbeamortizedbyadoptedtheeffectiveinterestratemethodwithinthedurationofloantooffsetrelevantborrowingcosts.
(2)IncasetheMinistryofFinanceallocatesthediscountfundstotheCompany,theCompanywillwritedownthecorrespondingdiscountinterestagainstrelevantborrowingcosts.
40.Deferredtaxassets/deferredtaxliabilities
1.Itisrequiredtocalculateandrecognizethedeferredtaxassetsorliabilitiesaccordingtothedifferencebetweenthebookvalueoftheassetsandliabilitiesandcorrespondingtaxbase(incasethetaxbaseofitemsnotrecognizedasassetsandliabilitiescanbedeterminedaccordingtotheprovisionsofthetaxlaw,thedifferencebetweenthetaxbaseandtheirbookamountshallbeadopted)aswellastheapplicabletaxrateduringtheperiodofexpectedrecoveryoftheassetsorsettlementoftheliabilities.
2.Recognitionofdeferredtaxassetsshallbelimitedtothetaxableincomethatislikelytobeobtainedtooffsettemporarydeductibledifferences.Onthebalancesheetdate,ifthereisconclusiveevidencethatitislikelytoobtainsufficienttaxableincomeinthefutureperiodstooffsetthedeductibletemporarydifferences,thedeferredtaxassetsnotrecognizedinthepreviousaccountingperiodsshallberecognized.
3.Thebookvalueofdeferredtaxassetsshallbereviewedonthebalancesheetdate.Incaseitisimpossibletoobtainenoughtaxableincometooffsetthebenefitsofthedeferredtaxassetsinthefuture,thebookvalueofthedeferredtaxassetsshallbewrittendown.Ifitislikelytoobtainenoughtaxableincome,thewritedownamountshallbereversed.
4.ThecurrentincometaxanddeferredtaxoftheCompanyshallberecognizedasincometaxexpenseorincome,andshallbeincludedinthecurrentprofitsandlosses,exceptforincometaxarisingfromthefollowingcircumstances:(1)consolidation;(2)transactionsormattersdirectlyrecognizedintheowner'sequity.
41.Lease
(1)Accountingtreatmentofleaseasthelessee
Asthelessee,theCompanyrecognizestheright-of-useassetsandleaseliabilitiesfortheleaseonthebeginningdateoftheleasetermexcludingshort-termleasesandleasesoflow-valueassetstowhichthesimplifiedtreatmentapplies.
Afterthestartingdateoftheleaseterm,theCompanyusesthecostmodeltomakesubsequentmeasurementoftheright-of-useassets.Theprovisionforthedepreciationoftheright-of-useassetsshallbemadewithreferencetotherelevantdepreciationprovisionsoftheAccountingStandardsforBusinessEnterprisesNo.4-FixedAssets.Ifthelesseecanreasonablydeterminethatitwillobtaintheownershipoftheleasedassetsupontheexpirationoftheleaseterm,provisionfordepreciationshallbemadewithintheremainingservicelifeoftheleasedassets.Ifitisnotreasonabletobecertainthatthelesseewillobtaintheownershipoftheleasedassetsattheexpiryoftheleaseterm,theleasedassetsshallbecalculatedandwithdrawnasdepreciationovertheshorteroneoftheleasetermortheremainingservicelife.TheCompanydetermineswhethertheright-of-useassetsareimpairedinaccordancewiththeAccountingStandardsfor
BusinessEnterprisesNo.8-AssetImpairment,andcarriesoutaccountingtreatmentfortheidentifiedimpairmentlosses.TheCompanycalculatestheinterestexpenseoftheleaseliabilitiesineachperiodoftheleaseatthefixedperiodicinterestrate,whichisincludedinthecurrentprofitsandlosses.IfthecostshallbeincludedinthecostofrelevantassetsinaccordancewiththeAccountingStandardsforBusinessEnterprisesNo.17-BorrowingCostsandotherstandards,suchprovisionsshallprevail.Forshort-termleasesandlow-valueassetleases,theCompanyshallchoosenottorecognizeright-of-useassetsandleaseliabilities,andincludetheleasepaymentsforshort-termleasesandlow-valueassetleasesintherelevantassetcostorcurrentprofitandlossaccordingtothestraight-linemethodduringeachperiodoftheleaseterm.
(2)Accountingtreatmentofleaseasthelessor
Duringeachperiodoftheleaseterm,theCompanyasthelessorshalladoptthestraight-linemethodtorecognizetherentalrevenuefromoperatingleaseasrentalincome.Thelessorshallcapitalizetheinitialdirectcostrelatedtooperatinglease,andamortizesandincludessuchcostintothecurrentprofitsandlossesbyinstallmentaccordingtothesamerecognitionbaseoftherentalrevenueduringtheleaseterm.
Asforthefixedassetssubjecttooperatingleases,theCompanyshallcalculatethedepreciationofitbyadoptingdepreciationpolicyforsimilarassets.Asforotherleasedassets,systematicandreasonablemethodsshallbeadoptedforitsamortizationaccordingtotheAccountingStandardsforBusinessEnterprisesapplicabletothisasset.TheCompanydetermineswhethertheoperatingleaseassetsareimpairedinaccordancewithAccountingStandardsforBusinessEnterprises,No.8-AssetImpairment,andcarriesoutcorrespondingaccountingtreatment.
42.Otherimportantaccountingpoliciesandaccountingestimation
Repurchaseshares
IftheCompanyoritssubsidiariessharesareacquiredduetothereductionofregisteredcapitalorrewardofemployees,theamountactuallypaidshallbetreatedasthetreasuryshare,andtherecordshallbemadeforreference.Iftherepurchasesharesarecancelled,thecapitalreservewillbeoffsetbythedifferencebetweenthetotalparvalueofthecancelledsharesandthenumberofcancelledsharesandtheamountpaidfortheactualrepurchase.Ifthecapitalreserveisinsufficienttobeoffset,theretainedearningsshallbeoffset;IftherepurchasesharesareawardedtotheemployeesoftheCompanyasequity-settledshare-basedpayment,whentheemployeesexercisetherighttopurchasethesharesoftheCompanyoritssubsidiariesandreceivetheprice,thecostoftreasurysharesdeliveredtotheemployeesandtheaccumulatedamountofcapitalreserve(othercapitalreserves)duringthewaitingperiodshallberesold,andthecapitalreserve(capitalpremiumorsharepremium)shallbeadjustedaccordingtothedifference.
43.Importantaccountingpolicyandaccountingestimationchanges
(1)Importantaccountingpolicychanges?Applicable□Notapplicable
Unit:RMB
Contentsandreasonsoftheaccountingpolicychange | Nameofthestatementitemthatissignificantlyaffected | Amountaffected |
"Accountingpracticefordeferredincometaxesrelatedtoassetsandliabilitiesgeneratedbyindividualtransactionswhichshallnotbeexemptedfrominitialconfirmation"inInterpretationNo.16ofAccountingStandardsforBusinessEnterprises(CK[2022]No.31)(hereinafterreferredtoas"InterpretationNo.16") | Deferredtaxassets | 20,769,946.22 |
Deferredtaxliabilities | 19,947,728.52 | |
Retainedearnings | 710,522.81 | |
Minorityshareholders'equity | 111,694.89 | |
Incometaxexpenses | -426,183.99 |
TheCompanybegantoimplementtherelevantprovisionsofInterpretationNo.16ofAccountingStandardsforBusinessEnterprises(CK[2022]No.31)fromJanuary1,2023,andadjustedthebeginningretainedearningsandotherrelevantfinancialstatementitemsoftheearliestperiodreportedinthefinancialstatementsbythecumulativeimpactamounts.Inresponsetotheimplementationofthisprovision,theCompanyretroactivelyadjustedthedeferredincometaxassetsofRMB20,769,946.22,deferredincometaxliabilitiesofRMB19,947,728.52,retainedearningsofRMB710,522.81,minorityshareholders'equityofRMB111,694.89,andincometaxexpensefor2022ofRMB-426,183.99intheconsolidatedfinancialstatementsasofDecember31,2022.
(2)Importantaccountingestimationchanges
□Applicable?Notapplicable
(3)Relevantitemsinfinancialstatementsatthebeginningof2023whensuchadjustmentsweremadeforthefirsttimeforinitialimplementationofthenewaccountingstandard
□Applicable?Notapplicable
44.Others
None.VI.Tax
1.Maintaxtypesandtaxrate
Taxtype | Taxbasis | Taxrate |
VAT(value-addedtax) | Revenuefromsalesofgoods | 13%、9%、6%、3%、0% |
Urbanmaintenanceandconstructiontax | Paidturnovertaxamount | 7%、5% |
Educationsurcharge | Paidturnovertaxamount | 3% |
Corporateincometax | Taxableincome | Pleaserefertothedifferentcorporateincometaxrates,subjectoftaxationandtheirtaxratedisclosuresbelowfordetails. |
Wherethereareanytaxpayerswithdifferentcorporateincometaxrates,detailsshallbedisclosed.
Nameoftaxpayer | Corporateincometaxrate |
ShenzhenTopbandCo.,Ltd. | 15.00% |
ShenzhenTopbandSoftwareTechnologyCo.,Ltd. | 15.00% |
ShenzhenTopbandAutomationTechnologyCo.,Ltd. | 15.00% |
ShenzhenTopbandBatteryCo.,Ltd. | 15.00% |
ChongqingTopbandIndustrialCo.,Ltd. | 25.00% |
Topband(HongKong)Co.,Ltd. | 16.50% |
HuizhouTopbandElectricalTechnologyCo.,Ltd. | 15.00% |
TOPBANDINDIAPRIVATELIMITED | 25.17% |
ShenzhenYAKOAutomationTechnologyCo.,Ltd. | 15.00% |
ShenzhenAlliedControlSystemCo.,Ltd. | 15.00% |
ShenzhenYanshengSoftwareCo.,Ltd. | 15.00% |
NingboTopbandIntelligentControlCo.,Ltd. | 25.00% |
ShenzhenMeanstoneIntelligentTechnologyCo.,Ltd. | 20.00% |
HangzhouZhidongMotorTechnologyCo.,Ltd. | 20.00% |
TaixingNinghuiLithiumBatteryCo.,Ltd. | 15.00% |
ShenzhenTopbandSupplyChainServicesCo.,Ltd. | 25.00% |
ShenzhenTopbandInvestmentCo.,Ltd. | 25.00% |
ShenzhenSparkIOTTechnologyCo.,Ltd. | 20.00% |
ShenzhenZhongliConsultingCo.,Ltd. | 20.00% |
ShenzhenTunnuInnovationCo.,Ltd. | 20.00% |
TUNNUINNOVATION,INC | 21.00% |
ShenzhenSenxuanTechnologyCo.,Ltd. | 20.00% |
ShenzhenTengyiIndustrialCo.,Ltd. | 20.00% |
Topband(Qingdao)IntelligentControlCo.,Ltd. | 20.00% |
ShenzhenTopbandAutomotiveElectronicsCo.,Ltd. | 20.00% |
TOPBANDJAPANCo.,Ltd | 23.20% |
TunnuInnovation(HongKong)Limited | 8.25% |
Topband(Vietnam)Co.,ltd | 20.00% |
TOPBANDSMARTDONGNAI(VIETNAM)Co.,ltd | 20.00% |
TopbandGermanyGmbH | 15.83% |
HuizhouTopbandBatteryCo.,Ltd. | 20.00% |
NantongTopbandYounengTechnologyCo.,Ltd. | 25.00% |
HuizhouYAKOAutomationTechnologyCo.,Ltd. | 25.00% |
ShenzhenTopbandMotorCo.,Ltd. | 20.00% |
ShenzhenYueshangRobotCo.,Ltd. | 20.00% |
ShenzhenJingfeiInvestmentCo.,Ltd. | 20.00% |
HuizhouChidingTechnologyCo.,Ltd. | 20.00% |
Q.B.PTE.LTD | 17.00% |
TOPBANDMEXICO,S.DER.L.DEC.V. | 30.00% |
TOPBANDSMARTEUROPECOMPANYLIMITEDS.R.L. | 16.00% |
YolanessTechnology(HK)Co.,Limited | 8.25% |
HuizhouJiuwanLvyuanAgricultureCo.,Ltd. | 20.00% |
YOLANESSAFRICA(PTY)LTD | 27.00% |
2.Taxpreference
ShenzhenYAKOAutomationTechnologyCo.,Ltd.wasrecognizedasasoftwareenterprisebyShenzhenEconomic,TradeandInformationCommissiononApril27,2013,andobtainedtheSoftwareEnterpriseCertificatethatisnumberedShenR-2010-0237.InaccordancewiththeprovisionsoftheNoticeonIssuingSeveralPoliciestoFurtherEncouragetheDevelopmentoftheSoftwareIndustryandtheIntegratedCircuitIndustry(GF[2011]No.4)issuedbytheStateCouncil,duringtheReportingPeriod,aftertheabove-mentionedproductsalesrevenuewasleviedwithvalue-addedtaxatthestatutorytaxrateof13%,theportionofitsactualvalue-addedtaxburdenthatexceeded3%wassubjecttoataxrefundpolicy.
ShenzhenTopbandSoftwareTechnologyCo.,Ltd.wasrecognizedasasoftwareenterprisebyShenzhenEconomic,TradeandInformationCommissiononJune28,2013,andobtainedtheSoftwareEnterpriseCertificatethatisnumberedShenR-2013-0616.InaccordancewiththeprovisionsoftheNoticeonIssuingSeveralPoliciestoFurtherEncouragetheDevelopmentoftheSoftwareIndustryandtheIntegratedCircuitIndustry(GF[2011]No.4)issuedbytheStateCouncil,duringtheReportingPeriod,aftertheabove-mentionedproductsalesrevenuewasleviedwithvalue-addedtaxatthestatutorytaxrateof13%,theportionofitsactualvalue-addedtaxburdenthatexceeded3%wassubjecttoataxrefundpolicy.
ShenzhenYanshengSoftwareCo.,Ltd.wasrecognizedasasoftwareenterprisebytheShenzhenSoftwareIndustryAssociationonAugust31,2017,andobtainedtheSoftwareEnterpriseCertificatethatisnumberedShenRQ-2017-0587.InaccordancewiththeprovisionsoftheNoticeonIssuingSeveralPoliciestoFurtherEncouragetheDevelopmentoftheSoftwareIndustryandtheIntegratedCircuitIndustry(GF[2011]No.4)issuedbytheStateCouncil,duringtheReportingPeriod,aftertheabove-mentionedproductsalesrevenuewasleviedwithvalue-addedtaxatthestatutorytaxrateof13%,theportionofitsactualvalue-addedtaxburdenthatexceeded3%wassubjecttoataxrefundpolicy.
AccordingtotheNoticeonValue-addedTaxPolicyforSoftwareProducts(CS[2011]No.100)issuedbytheMinistryofFinanceandtheStateTaxationAdministration,theportionoftheactualvalue-addedtaxburdenonsoftwareproductsalesthatexceeds3%shallbesubjecttoataxrefundpolicy.TheprovisionsofthispolicyapplytotheCompany'stwosubsidiaries,ShenzhenAlliedControlSystemCo.,Ltd.andShenzhenMeanstoneIntelligentTechnologyCo.,Ltd.
OnNovember15,2023,theCompanyobtainedtheCertificateforHigh-techEnterprisethatisnumberedGR202344206777andissuedbyShenzhenScienceandTechnologyInnovationCommission,ShenzhenFinanceBureauandShenzhenTaxService,StateTaxationAdministration.ThisCertificateisvalidwithin3yearsfromthedateofissuance.ThecorporateincometaxrateapplicablefortheCompanyfrom2023to2025is15%inaccordancewithrelevantprovisionsoftheLawofthePeople'sRepublicofChinaonEnterpriseIncomeTax,RegulationsofthePeople'sRepublicofChinaontheImplementationofEnterpriseIncomeTaxandtheManagementMeasuresfortheCertificationofHigh-techEnterprises.OnDecember19,2022,ShenzhenTopbandSoftwareTechnologyCo.,Ltd.obtainedtheCertificateforHigh-techEnterprisethatisnumberedGR202244203890andissuedbyShenzhenScienceandTechnologyInnovationCommission,ShenzhenFinanceBureauandShenzhenTaxService,StateTaxationAdministration.ThisCertificateisvalidwithin3yearsfromthedateofissuance.ThecorporateincometaxrateapplicablefortheCompanyfrom2022to2024is15%inaccordancewithrelevantprovisionsoftheLawofthePeople'sRepublicofChinaonEnterpriseIncomeTax,RegulationsofthePeople'sRepublicofChinaontheImplementationofEnterpriseIncomeTaxandtheManagementMeasuresfortheCertificationofHigh-techEnterprises.
OnDecember23,2021,ShenzhenTopbandBatteryCo.,Ltd.obtainedtheCertificateforHigh-techEnterprisethatisnumberedGR202144203102andissuedbyShenzhenScienceandTechnologyInnovationCommission,ShenzhenFinanceBureauandShenzhenTaxService,StateTaxationAdministration.ThisCertificateisvalidwithin3yearsfromthedateofissuance.ThecorporateincometaxrateapplicablefortheCompanyfrom2021to2023is15%inaccordancewithrelevantprovisionsoftheLawofthePeople'sRepublicofChinaonEnterpriseIncomeTax,RegulationsofthePeople'sRepublicofChinaontheImplementationofEnterpriseIncomeTaxandtheManagementMeasuresfortheCertificationofHigh-techEnterprises.
OnDecember20,2021,HuizhouTopbandElectricalTechnologyCo.,Ltd.obtainedtheCertificateforHigh-techEnterprisethatisnumberedGR202144003640andissuedbytheDepartmentofScienceandTechnologyofGuangdongProvince,theDepartmentofFinanceofGuangdongProvince,andGuangdongProvincialTaxService,StateTaxationAdministration.ThisCertificateisvalidwithin3yearsfromthedateofissuance.ThecorporateincometaxrateapplicablefortheCompanyfrom2021to2023is15%inaccordancewithrelevantprovisionsoftheLawofthePeople'sRepublicofChinaonEnterpriseIncomeTax,RegulationsofthePeople'sRepublicofChinaontheImplementationofEnterpriseIncomeTaxandtheManagementMeasuresfortheCertificationofHigh-techEnterprises.
OnDecember23,2021,ShenzhenYAKOAutomationTechnologyCo.,Ltd.obtainedtheCertificateforHigh-techEnterprisethatisnumberedGR202144205479andissuedbyShenzhenScienceandTechnologyInnovationCommission,ShenzhenFinanceBureauandShenzhenTaxService,StateTaxationAdministration.ThisCertificateisvalidwithin3yearsfromthedateofissuance.ThecorporateincometaxrateapplicablefortheCompanyfrom2021to2023is15%inaccordancewithrelevantprovisionsoftheLawofthePeople'sRepublicofChinaonEnterpriseIncomeTax,RegulationsofthePeople'sRepublicofChinaonthe
ImplementationofEnterpriseIncomeTaxandtheManagementMeasuresfortheCertificationofHigh-techEnterprises.OnDecember23,2021,ShenzhenAlliedControlSystemCo.,Ltd.obtainedtheCertificateforHigh-techEnterprisethatisnumberedGR202144206368andissuedbyShenzhenScienceandTechnologyInnovationCommission,ShenzhenFinanceBureauandShenzhenTaxService,StateTaxationAdministration.ThisCertificateisvalidwithin3yearsfromthedateofissuance.ThecorporateincometaxrateapplicablefortheCompanyfrom2021to2023is15%inaccordancewithrelevantprovisionsoftheLawofthePeople'sRepublicofChinaonEnterpriseIncomeTax,RegulationsofthePeople'sRepublicofChinaontheImplementationofEnterpriseIncomeTaxandtheManagementMeasuresfortheCertificationofHigh-techEnterprises.OnDecember23,2021,ShenzhenYanshengSoftwareCo.,Ltd.obtainedtheCertificateforHigh-techEnterprisethatisnumberedGR202144207744andissuedbyShenzhenScienceandTechnologyInnovationCommission,ShenzhenFinanceCommissionandShenzhenTaxService,StateTaxationAdministration.ThisCertificateisvalidwithin3yearsfromthedateofissuance.ThecorporateincometaxrateapplicablefortheCompanyfrom2021to2023is15%inaccordancewithrelevantprovisionsoftheLawofthePeople'sRepublicofChinaonEnterpriseIncomeTax,RegulationsofthePeople'sRepublicofChinaontheImplementationofEnterpriseIncomeTaxandtheManagementMeasuresfortheCertificationofHigh-techEnterprises.OnNovember30,2021,TaixingNinghuiLithiumBatteryCo.,Ltd.obtainedtheCertificateforHigh-techEnterprisethatisnumberedGR202132010782andissuedbytheJiangsuProvincialDepartmentofScienceandTechnology,theDepartmentofFinanceofJiangsuProvince,andJiangsuProvincialTaxService,StateTaxationAdministration.ThisCertificateisvalidwithin3yearsfromthedateofissuance.ThecorporateincometaxrateapplicablefortheCompanyfrom2021to2023is15%inaccordancewithrelevantprovisionsoftheLawofthePeople'sRepublicofChinaonEnterpriseIncomeTax,RegulationsofthePeople'sRepublicofChinaontheImplementationofEnterpriseIncomeTaxandtheManagementMeasuresfortheCertificationofHigh-techEnterprises.OnNovember15,2023,ShenzhenTopbandAutomationTechnologyCo.,Ltd.obtainedtheCertificateforHigh-techEnterprisethatisnumberedGR202344204958andissuedbyShenzhenScienceandTechnologyInnovationCommission,ShenzhenFinanceBureauandShenzhenTaxService,StateTaxationAdministration.ThisCertificateisvalidwithin3yearsfromthedateofissuance.ThecorporateincometaxrateapplicablefortheCompanyfrom2023to2025is15%inaccordancewithrelevantprovisionsoftheLawofthePeople'sRepublicofChinaonEnterpriseIncomeTax,RegulationsofthePeople'sRepublicofChinaontheImplementationofEnterpriseIncomeTaxandtheManagementMeasuresfortheCertificationofHigh-techEnterprises.
AccordingtotheprovisionsoftheAnnouncementonTaxandFeePoliciestoFurtherSupporttheDevelopmentofSmallandMicroEnterprisesandIndividualBusinesses([2023]No.12)issuedbytheMinistryofFinanceandtheStateTaxationAdministration,thepolicyofcalculatingthetaxableincomeofsmallandmicro-profitenterprisesatareducedrateof25%andpayingcorporateincometaxatarateof20%shallcontinuetobeimplementeduntilDecember31,2027.TheprovisionsofthisPolicyapplytoHangzhouZhidong
MotorTechnologyCo.,Ltd.,ShenzhenSparkIOTTechnologyCo.,Ltd.,ShenzhenTunnuInnovationCo.,Ltd.,HuizhouTopbandBatteryCo.,Ltd.,ShenzhenTopbandMotorCo.,Ltd.,ShenzhenMeanstoneIntelligentTechnologyCo.,Ltd.,ShenzhenZhongliConsultingCo.,Ltd.,ShenzhenSenxuanTechnologyCo.,Ltd.,ShenzhenTengyiIndustrialCo.,Ltd.,Topband(Qingdao)IntelligentControlCo.,Ltd.,ShenzhenTopbandAutomotiveElectronicsCo.,Ltd.,ShenzhenYueshangRobotCo.,Ltd.,ShenzhenJingfeiInvestmentCo.,Ltd.,HuizhouChidingTechnologyCo.,Ltd.andHuizhouJiuwanLvyuanAgricultureCo.,Ltd.thataresubsidiariesandsub-subsidiariesoftheCompany.
3.OthersNone.VII.NotestoItemsofConsolidatedFinancialStatements
1.Monetarycapital
Unit:RMB
Items | Endingbalance | Beginningbalance |
Cashonhand | 1,069,045.22 | 606,436.16 |
Bankdeposit | 1,352,610,241.43 | 1,210,218,469.79 |
Othermonetarycapital | 196,771,603.17 | 192,201,165.39 |
Total | 1,550,450,889.82 | 1,403,026,071.34 |
Including:totalamountdepositedabroad | 270,380,160.96 | 412,196,063.34 |
Otherdescriptions:
1.Attheendoftheperiod,therewerepledged,frozenorotherfundswithrestrictionsonusetotalingRMB39,587,800.49.
2.Attheendoftheperiod,thereisnoamountdepositedoverseasandwiththerepatriationrestricted.
2.Tradablefinancialassets
Unit:RMB
Items | Endingbalance | Beginningbalance |
Financialassetsmeasuredatfairvalueandwhosechangesarerecordedincurrentprofitorloss | 656,704,087.16 | 342,959,450.31 |
Including: | ||
Financialproducts | 303,000,000.00 | 1,790,866.41 |
Investmentinequityinstruments | 352,334,087.16 | 341,168,583.90 |
Forwardforeignexchangecontract | 1,370,000.00 | |
Including: | ||
Total | 656,704,087.16 | 342,959,450.31 |
Otherdescriptions:
None.
3.Derivativefinancialassets
□Applicable?Notapplicable
4.Notesreceivable
(1)Listofclassificationofnotesreceivable
Unit:RMB
Items | Endingbalance | Beginningbalance |
Bankacceptanceinstruments | 48,332,530.42 | 40,056,132.32 |
Commercialacceptancebill | 5,865,862.11 | 11,735,626.58 |
Total | 54,198,392.53 | 51,791,758.90 |
(2)Disclosurebybaddebtprovisionmethod
Unit:RMB
Category | Endingbalance | Beginningbalance | ||||||||
Bookbalance | Provisionforbaddebts | Bookvalue | Bookbalance | Provisionforbaddebts | Bookvalue | |||||
Amount | Proportion | Amount | Proportionofprovision | Amount | Proportion | Amount | Proportionofprovision | |||
Notesreceivablewithsingleprovisionforbaddebts | 48,332,530.42 | 88.87% | 48,332,530.42 | 40,056,132.32 | 76.78% | 40,056,132.32 | ||||
Including: | ||||||||||
Bankacceptancebill | 48,332,530.42 | 88.87% | 48,332,530.42 | 40,056,132.32 | 76.78% | 40,056,132.32 | ||||
Commercialacceptancebill | ||||||||||
Notesreceivablewithprovisionforbaddebtsbyportfolio | 6,053,521.27 | 11.13% | 187,659.16 | 3.10% | 5,865,862.11 | 12,111,069.74 | 23.22% | 375,443.16 | 3.10% | 11,735,626.58 |
Including: | ||||||||||
Commercialacceptancebill | 6,053,521.27 | 11.13% | 187,659.16 | 3.10% | 5,865,862.11 | 12,111,069.74 | 23.22% | 375,443.16 | 3.10% | 11,735,626.58 |
Total | 54,386,051.69 | 100.00% | 187,659.16 | 0.35% | 54,198,392.53 | 52,167,202.06 | 100.00% | 375,443.16 | 0.72% | 51,791,758.90 |
Provisionforbaddebtsbyportfolio:187,659.16
Unit:RMB
Name | Endingbalance | ||
Bookbalance | Provisionforbaddebts | Proportionofprovision | |
Commercialacceptancebill | 6,053,521.27 | 187,659.16 | 3.10% |
Total | 6,053,521.27 | 187,659.16 |
Explanationofthebasisfordeterminingtheportfolio:
NoneIftheprovisionforbaddebtsofnotesreceivableismadeaccordingtothegeneralmodelofexpectedcreditlosses:
□Applicable?Notapplicable
(3)Baddebtprovisionwithdrawn,recoveredorreversedinthecurrentperiodProvisionforbaddebtsinthecurrentperiod:
Unit:RMB
Category | Beginningbalance | Amountchangedinthecurrentperiod | Endingbalance | |||
Provision | Recoverorreversal | Write-off | Others | |||
Provisionforbaddebts-notesreceivable | 375,443.16 | -187,784.00 | 187,659.16 | |||
Total | 375,443.16 | -187,784.00 | 187,659.16 |
Ofwhichtheamountofprovisionforbaddebtsrecoveredorreversedinthecurrentperiodissignificant:
□Applicable?Notapplicable
(4)NotesreceivablepledgedbytheCompanyattheendoftheperiod
□Applicable?Notapplicable
(5)NotesreceivableendorsedordiscountedbytheCompanyattheendoftheperiodandnotdueyetonbalancesheetdate
Unit:RMB
Items | Amountderecognizedattheendoftheperiod | Amountnotderecognizedattheendoftheperiod |
Bankacceptanceinstruments | 30,163,200.29 | |
Commercialacceptancebill | ||
Total | 30,163,200.29 |
(6)Notesreceivableactuallywrittenoffinthecurrentperiod
□Applicable?Notapplicable
5.Accountsreceivable
(1)Disclosurebyaging
Unit:RMB
Aging | Bookbalanceattheendoftheperiod | Bookbalanceatthebeginningoftheperiod |
Within1year(including1year) | 2,501,663,449.76 | 2,634,692,660.36 |
1-2years | 26,101,888.01 | 41,435,174.20 |
2-3years | 34,426,751.55 | 37,842,457.63 |
Above3years | 38,418,609.23 | 2,835,672.10 |
3-4years | 36,343,415.96 | 1,167,983.94 |
4-5years | 742,628.55 | 1,387,990.68 |
Above5years | 1,332,564.72 | 279,697.48 |
Total | 2,600,610,698.55 | 2,716,805,964.29 |
(2)Disclosurebybaddebtprovisionmethod
Unit:RMB
Category | Endingbalance | Beginningbalance | ||||||||
Bookbalance | Provisionforbaddebts | Bookvalue | Bookbalance | Provisionforbaddebts | Bookvalue | |||||
Amount | Proportion | Amount | Proportionofprovision | Amount | Proportion | Amount | Proportionofprovision | |||
Accountsreceivablewithsingleprovisionforbaddebts | 90,294,270.19 | 3.47% | 90,294,270.19 | 100.00% | 82,546,521.29 | 3.04% | 82,546,521.29 | 100.00% | ||
Including: | ||||||||||
Accountsreceivablewithasinglesignificantamountandsinglebaddebtprovision | 86,711,553.79 | 3.33% | 86,711,553.79 | 100.00% | 82,546,521.29 | 3.04% | 82,546,521.29 | 100.00% | ||
Accountsreceivablewithnotsignificantamountbutwithsingleprovisionforbaddebts | 3,582,716.40 | 0.14% | 3,582,716.40 | 100.00% | ||||||
Accountsreceivablewithprovisionforbaddebtsbyportfolio | 2,510,316,428.36 | 96.53% | 78,542,550.80 | 3.13% | 2,431,773,877.56 | 2,634,259,443.00 | 96.96% | 84,525,403.34 | 3.21% | 2,549,734,039.66 |
Including: | ||||||||||
Accountsreceivableswithprovisionforbaddebtsbyagingportfolio | 2,510,316,428.36 | 96.53% | 78,542,550.80 | 3.13% | 2,431,773,877.56 | 2,634,259,443.00 | 96.96% | 84,525,403.34 | 3.21% | 2,549,734,039.66 |
Total | 2,600,610,698.55 | 100.00% | 168,836,820.99 | 6.49% | 2,431,773,877.56 | 2,716,805,964.29 | 100.00% | 167,071,924.63 | 6.15% | 2,549,734,039.66 |
Singleprovisionforbaddebts:90,294,270.19
Unit:RMB
Name | Beginningbalance | Endingbalance | ||||
Bookbalance | Provisionforbaddebts | Bookbalance | Provisionforbaddebts | Proportionofprovision | Reasonsforprovision | |
Accountsreceivablewithasinglesignificantamountandsinglebaddebtprovision | 82,546,521.29 | 82,546,521.29 | 86,711,553.79 | 86,711,553.79 | 100.00% | Itisdifficulttorecover |
Accountsreceivablewithnotsignificantamountbutwithsingleprovisionforbaddebts | 3,582,716.40 | 3,582,716.40 | 100.00% | Itisdifficulttorecover | ||
Total | 82,546,521.29 | 82,546,521.29 | 90,294,270.19 | 90,294,270.19 |
Provisionforbaddebtsbyportfolio:78,542,550.80
Unit:RMB
Name | Endingbalance | ||
Bookbalance | Provisionforbaddebts | Proportionofprovision | |
Accountsreceivableswithprovisionforbaddebtsbyagingportfolio | 2,510,316,428.36 | 78,542,550.80 | 3.13% |
Total | 2,510,316,428.36 | 78,542,550.80 |
Explanationofthebasisfordeterminingtheportfolio:
None.Iftheprovisionforbaddebtsofaccountsreceivableismadeaccordingtothegeneralmodelofexpectedcreditlosses:
□Applicable?Notapplicable
(3)Baddebtprovisionwithdrawn,recoveredorreversedinthecurrentperiod
Provisionforbaddebtsinthecurrentperiod:
Unit:RMB
Category | Beginningbalance | Amountchangedinthecurrentperiod | Endingbalance | |||
Provision | Recoverorreversal | Write-off | Others | |||
Provisionforbaddebts | 167,071,924.63 | 3,041,800.93 | 1,269,324.37 | -7,580.20 | 168,836,820.99 | |
Total | 167,071,924.63 | 3,041,800.93 | 1,269,324.37 | -7,580.20 | 168,836,820.99 |
Ofwhichtheamountofprovisionforbaddebtsrecoveredorreversedinthecurrentperiodissignificant:
None.
(4)Accountsreceivableactuallywrittenoffinthecurrentperiod
Unit:RMB
Items | Amountofwrite-off |
Accountsreceivableactuallywrittenoff | 1,269,324.37 |
Amongthem,theimportantaccountsreceivablewrite-offsare:
None.
(5)Accountsreceivableandcontractassetsoftopfiveendingbalancesgroupedbydebtors
Unit:RMB
Nameofunit | Endingbalanceofaccountsreceivable | Endingbalanceofcontractassets | Endingbalancesofaccountsreceivableandcontractassets | Proportiontototalendingbalancesofaccountsreceivableandcontractassets | Endingbalanceofbaddebtprovisionforaccountsreceivableandprovisionforimpairmentofcontractassets |
No.1 | 630,305,220.75 | 630,305,220.75 | 24.24% | 19,674,452.32 | |
No.2 | 110,510,961.39 | 110,510,961.39 | 4.25% | 3,425,839.80 | |
No.3 | 82,546,521.27 | 82,546,521.27 | 3.17% | 82,546,521.27 | |
No.4 | 75,696,409.27 | 75,696,409.27 | 2.91% | 2,355,853.02 | |
No.5 | 65,510,995.69 | 65,510,995.69 | 2.52% | 2,030,840.87 | |
Total | 964,570,108.37 | 964,570,108.37 | 37.09% | 110,033,507.28 |
6.Contractassets
□Applicable?Notapplicable
7.Receivablesfinancing
(1)Classificationofaccountsreceivablefinancing
Unit:RMB
Items | Endingbalance | Beginningbalance |
Bankacceptancebill | 126,350,412.69 | 79,652,525.19 |
Factoredaccountsreceivable | 111,968,012.71 | 173,392,414.33 |
Supplychainnotesreceivable | 40,202,216.82 | 1,943,263.08 |
Total | 278,520,642.22 | 254,988,202.60 |
(2)Disclosurebybaddebtprovisionmethod
Unit:RMB
Category | Endingbalance | Beginningbalance | ||||||||
Bookbalance | Provisionforbaddebts | Bookvalue | Bookbalance | Provisionforbaddebts | Bookvalue | |||||
Amount | Proportion | Amount | Proportionofprovision | Amount | Proportion | Amount | Proportionofprovision | |||
Singleprovisionforbaddebts | 166,552,629.51 | 59.04% | 166,552,629.51 | 81,595,788.27 | 31.32% | 81,595,788.27 | ||||
Including: | ||||||||||
Bankacceptancebill | 126,350,412.69 | 44.79% | 126,350,412.69 | 79,652,525.19 | 30.57% | 79,652,525.19 | ||||
Supplychainnotesreceivable | 40,202,216.82 | 14.25% | 40,202,216.82 | 1,943,263.08 | 0.75% | 1,943,263.08 | ||||
Provisionforbaddebtsbyportfolio | 115,550,064.71 | 40.96% | 3,582,052.00 | 3.10% | 111,968,012.71 | 178,939,540.07 | 68.68% | 5,547,125.74 | 3.10% | 173,392,414.33 |
Including: | ||||||||||
Factoredaccountsreceivable | 115,550,064.71 | 40.96% | 3,582,052.00 | 3.10% | 111,968,012.71 | 178,939,540.07 | 68.68% | 5,547,125.74 | 3.10% | 173,392,414.33 |
Total | 282,102,694.22 | 100.00% | 3,582,052.00 | 1.27% | 278,520,642.22 | 260,535,328.34 | 100.00% | 5,547,125.74 | 2.13% | 254,988,202.60 |
Singleprovisionforbaddebts:0.
Unit:RMB
Name | Beginningbalance | Endingbalance | ||||
Bookbalance | Provisionforbaddebts | Bookbalance | Provisionforbaddebts | Proportionofprovision | Reasonsforprovision | |
Bankacceptancebill | 79,652,525.19 | 126,350,412.69 | ||||
Supplychainnotesreceivable | 1,943,263.08 | 40,202,216.82 | ||||
Total | 81,595,788.27 | 166,552,629.51 |
Provisionforbaddebtsbyportfolio:3,582,052.00
Unit:RMB
Name | Endingbalance | ||
Bookbalance | Provisionforbaddebts | Proportionofprovision | |
Baddebtprovisionforfactoredaccountsreceivable | 115,550,064.71 | 3,582,052.00 | 3.10% |
Explanationofthebasisfordeterminingtheportfolio:
None.Provisionforbaddebtsbasedonthegeneralmodelofexpectedcreditlosses
Unit:RMB
Provisionforbaddebts | Firststage | Secondstage | Thirdstage | Total |
Expectedcreditlossinthenext12months | Expectedcreditlossfortheentireduration(nocreditimpairment) | Expectedcreditlossfortheentireduration(creditimpairmentoccurred) | ||
BalanceasofJanuary1,2023 | 5,547,125.74 | 5,547,125.74 | ||
BalanceasofJanuary1,2023inthecurrentperiod | ||||
Accrualinthecurrentperiod | -1,965,073.74 | -1,965,073.74 | ||
BalanceasofDecember31,2023 | 3,582,052.00 | 3,582,052.00 |
BasisfordivisionintodifferentstagesandbaddebtprovisionratioNone.Descriptionofsignificantchangesinthebalanceofaccountsreceivablefinancingforwhichlossreserveshavechangedduringthecurrentperiod:
None.
(3)ChangesinincreaseordecreaseinreceivablesfinancingandchangesinfairvalueinthecurrentperiodNone.
(4)OtherdescriptionsNone.
8.Otherreceivables
Unit:RMB
Items | Endingbalance | Beginningbalance |
Otherreceivables | 36,524,343.36 | 77,743,150.98 |
Total | 36,524,343.36 | 77,743,150.98 |
(1)Interestreceivable
□Applicable?Notapplicable
(2)Dividendsreceivable
□Applicable?Notapplicable
(3)Otherreceivables
1)Classificationofotherreceivablesbynatureofamount
Unit:RMB
Natureofpayment | Bookbalanceattheendoftheperiod | Bookbalanceatthebeginningoftheperiod |
Margin,deposit | 24,942,814.39 | 25,628,574.96 |
Employeepersonalloan | 7,837,283.76 | 12,085,358.61 |
Exportrebate | 8,682,341.31 | 21,954,980.84 |
Convertibleloan | 14,000,000.00 | |
Compensation | 2,217,210.33 | 10,820,710.33 |
Others | 2,698,876.37 | 882,396.18 |
Total | 46,378,526.16 | 85,372,020.92 |
2)Disclosurebyaging
Unit:RMB
Aging | Bookbalanceattheendoftheperiod | Bookbalanceatthebeginningoftheperiod |
Within1year(including1year) | 21,094,463.33 | 58,018,314.17 |
1-2years | 8,282,956.38 | 18,433,375.67 |
2-3years | 10,637,952.10 | 1,554,331.57 |
Above3years | 6,363,154.35 | 7,365,999.51 |
3-4years | 824,947.24 | 5,508,631.96 |
4-5years | 3,683,926.82 | 728,086.38 |
Above5years | 1,854,280.29 | 1,129,281.17 |
Total | 46,378,526.16 | 85,372,020.92 |
3)Disclosurebybaddebtprovisionmethod?Applicable□Notapplicable
Unit:RMB
Category | Endingbalance | Beginningbalance | ||||||||
Bookbalance | Provisionforbaddebts | Bookvalue | Bookbalance | Provisionforbaddebts | Bookvalue | |||||
Amount | Proportion | Amount | Proportionofprovision | Amount | Proportion | Amount | Proportionofprovision | |||
Singleprovisionforbaddebts | 8,682,341.31 | 18.72% | 8,682,341.31 | 35,954,980.84 | 42.12% | 35,954,980.84 | ||||
Provisionforbaddebtsbyportfolio | 37,696,184.85 | 81.28% | 9,854,182.80 | 26.14% | 27,842,002.05 | 49,417,040.08 | 57.88% | 7,628,869.94 | 15.44% | 41,788,170.14 |
Total | 46,378,526.16 | 100.00% | 9,854,182.80 | 21.25% | 36,524,343.36 | 85,372,020.92 | 100.00% | 7,628,869.94 | 8.94% | 77,743,150.98 |
Singleprovisionforbaddebts:0.
Name | Beginningbalance | Endingbalance | ||||
Bookbalance | Provisionforbaddebts | Bookbalance | Provisionforbaddebts | Proportionofprovision | Reasonsforprovision | |
Exporttaxrebatereceivable | 21,954,980.84 | 8,682,341.31 | Nolossisexpectedinexporttaxrebates |
Provisionforbaddebtsbyportfolio:9,854,182.80
Unit:RMB
Name | Endingbalance | ||
Bookbalance | Provisionforbaddebts | Proportionofprovision | |
Accountsreceivableforwhichbaddebtprovisionismadebycreditriskfeatureportfolio | 37,696,184.85 | 9,854,182.80 | 26.14% |
Total | 37,696,184.85 | 9,854,182.80 |
Explanationofthebasisfordeterminingtheportfolio:None.Provisionforbaddebtsbasedonthegeneralmodelofexpectedcreditlosses:
Unit:RMB
Provisionforbaddebts | Firststage | Secondstage | Thirdstage | Total |
Expectedcreditlossinthenext12months | Expectedcreditlossfortheentireduration(nocreditimpairment) | Expectedcreditlossfortheentireduration(creditimpairmentoccurred) | ||
BalanceasofJanuary1,2023 | 7,628,869.94 | 7,628,869.94 | ||
BalanceasofJanuary1,2023inthecurrentperiod | ||||
Accrualinthecurrentperiod | 2,130,985.29 | 2,130,985.29 | ||
Reversalinthecurrentperiod | 10,964.00 | 10,964.00 | ||
Otherchanges | 105,291.57 | 105,291.57 | ||
BalanceasofDecember31,2023 | 9,854,182.80 | 9,854,182.80 |
Basisfordivisionintodifferentstagesandproportionofbaddebtprovision:None.Changesinbookbalancewithsignificantchangesinlossreservesinthecurrentperiod
□Applicable?Notapplicable
4)Baddebtprovisionwithdrawn,recoveredorreversedinthecurrentperiodProvisionforbaddebtsinthecurrentperiod:
Unit:RMB
Category | Beginningbalance | Amountchangedinthecurrentperiod | Endingbalance | |||
Provision | Recoverorreversal | Reversalorwrite-off | Others |
Provisionforbaddebts | 7,628,869.94 | 2,130,985.29 | 10,964.00 | 105,291.57 | 9,854,182.80 | |
Total | 7,628,869.94 | 2,130,985.29 | 10,964.00 | 105,291.57 | 9,854,182.80 |
Ofwhichtheamountofprovisionforbaddebtsrecoveredorreversedinthecurrentperiodissignificant:
□Applicable?Notapplicable
5)Otherreceivablesactuallywrittenoffinthecurrentperiod
Unit:RMB
Items | Amountofwrite-off |
Accountsreceivableactuallywrittenoff | 10,964.00 |
Amongthem,theimportantotherreceivableswerewrittenoff:
□Applicable?Notapplicable
6)Otherreceivablesoftopfiveendingbalancesgroupedbydebtors
Unit:RMB
Nameofunit | Natureofpayment | Endingbalance | Aging | Proportiontototalendingbalancesofotherreceivables | Endingbalanceofprovisionforbaddebts |
No.1 | Exportrebate | 8,682,341.31 | Within1year | 18.72% | 0.00 |
No.2 | Guaranteedeposit | 3,555,451.67 | 2-3years | 7.67% | 1,066,635.50 |
No.3 | Guaranteedeposit | 3,500,000.00 | 2-3years | 7.55% | 1,050,000.00 |
No.4 | Depositandsecuritydeposit | 2,337,136.32 | Lessthan1year,2-3years | 5.04% | 575,321.20 |
No.5 | Compensation | 2,217,210.33 | 1-2years | 4.78% | 221,721.03 |
Total | 20,292,139.63 | 43.76% | 2,913,677.73 |
7)Reportedinotherreceivablesduetocentralizedfundmanagement
Otherdescriptions:None.
9.Prepayments
(1)Listofadvancepaymentsbyaging
Unit:RMB
Aging | Endingbalance | Beginningbalance | ||
Amount | Proportion | Amount | Proportion | |
Within1year | 41,217,371.39 | 93.49% | 52,386,993.93 | 93.35% |
1-2years | 2,649,254.74 | 6.01% | 512,018.85 | 5.06% |
2-3years | 173,711.61 | 0.39% | 16,728.11 | 1.08% |
Above3years | 47,730.79 | 0.11% | 89,916.06 | 0.51% |
Total | 44,088,068.53 | 53,005,656.95 |
Explanationofthecauseforuntimelysettlementofadvancepaymentsagingmorethanoneyearwithimportantamounts:Thetermsofsettlementhavenotbeenmet.
(2)Accountsprepaidofthetopfiveprepayingentitiesforendingbalance
ThetotalamountofaccountsprepaidofthetopfiveprepayingentitiesforendingbalancegroupedbydebtorsintheyearwasRMB16,440,759.83,accountingfor37.29%ofthetotalendingbalancesofaccountsreceivable.
Otherdescriptions:None.
10.Inventories
WhethertheCompanyisrequiredtocomplywiththedisclosurerequirementsoftherealestateindustry
No
(1)Inventoryclassification
Unit:RMB
Items | Endingbalance | Beginningbalance | ||||
Bookbalance | Provisionfordeclineinvalueofinventoriesorprovisionforimpairmentofcontractperformancecost | Bookvalue | Bookbalance | Provisionfordeclineinvalueofinventoriesorprovisionforimpairmentofcontractperformancecost | Bookvalue | |
Purchaseofrawmaterials | 883,406,451.52 | 84,959,315.65 | 798,447,135.87 | 1,109,830,117.82 | 83,688,904.02 | 1,026,141,213.80 |
Goodsinprocess | 187,129,741.78 | 187,129,741.78 | 125,103,265.61 | 125,103,265.61 | ||
Goodsonhand | 477,050,469.57 | 22,099,671.18 | 454,950,798.39 | 577,165,161.12 | 12,958,236.03 | 564,206,925.09 |
Goodsshippedintransit | 118,434,872.84 | 4,566,699.62 | 113,868,173.22 | 114,595,833.38 | 3,797,469.37 | 110,798,364.01 |
Self-manufacturedsemi-finishedproduct | 86,682,330.39 | 4,046,746.35 | 82,635,584.04 | 107,003,988.63 | 4,809,578.57 | 102,194,410.06 |
Materialsentrustedforprocessing | 16,730,489.94 | 16,730,489.94 | 64,442,573.06 | 64,442,573.06 | ||
Low-valueconsumables | 54,792.27 | 54,792.27 | 65,460.90 | 65,460.90 | ||
Total | 1,769,489,148.31 | 115,672,432.80 | 1,653,816,715.51 | 2,098,206,400.52 | 105,254,187.99 | 1,992,952,212.53 |
(2)Provisionfordeclineinvalueofinventoriesandprovisionforimpairmentofcontractperformancecost
Unit:RMB
Items | Beginningbalance | Increaseinthecurrentperiod | Decreaseamountinthecurrentperiod | Endingbalance | ||
Provision | Others | Reversalorwrite-off | Others | |||
Purchaseofrawmaterials | 83,688,904.02 | 46,739,129.34 | -12,344.35 | 45,456,373.36 | 84,959,315.65 | |
Goodsonhand | 12,958,236.03 | 18,873,809.80 | 507.59 | 9,732,882.24 | 22,099,671.18 | |
Goodsshippedintransit | 3,797,469.37 | 2,410,823.43 | 1,641,593.18 | 4,566,699.62 | ||
Self-manufacturedsemi-finishedproduct | 4,809,578.57 | 2,683,638.81 | -1,242.30 | 3,445,228.73 | 4,046,746.35 | |
Total | 105,254,187.99 | 70,707,401.38 | -13,079.06 | 60,276,077.51 | 115,672,432.80 |
Inventoryrevaluationreservewasmadeonaportfoliobasis
□Applicable?Notapplicable
(3)ExplanationofcapitalizedamountofborrowingcostsincludedinendingbalanceofinventoryNone.
(4)Explanationofcurrentamortizationamountofcontractperformancecost
None.
11.Assetsheldforsale
□Applicable?Notapplicable
12.Non-currentassetsduewithinoneyear
□Applicable?Notapplicable
13.Othercurrentassets
Unit:RMB
Items | Endingbalance | Beginningbalance |
VATtobededucted | 201,581,758.39 | 143,163,557.71 |
Otherprepaidtaxes | 6,944,576.68 | 10,472,653.58 |
IPO-relatedfees | 1,490,566.02 | |
Deferredexpenses | 4,686,592.42 |
Total | 213,212,927.49 | 155,126,777.31 |
14.Debtinvestment
□Applicable?Notapplicable
15.Otherdebtinvestment
□Applicable?Notapplicable
16.Otherequityinstrumentinvestment
Unit:RMB
Projectname | Endingbalance | Beginningbalance | Gainsincludedinothercomprehensiverevenuefortheperiod | Lossesrecognizedinothercomprehensiverevenuefortheperiod | Gainsandlossesincludedinothercomprehensiverevenueattheendoftheperiod | Lossesaccumulatedattheendoftheperiodandincludedinothercomprehensiverevenue | Dividendrevenuerecognizedinthisperiod | Reasonsspecifiedasmeasuredatfairvaluewithchangesincludedinothercomprehensiveincome |
SuzhouLegendsemiTechnologyCo.,Ltd. | 20,000,000.00 | Strategicinvestment | ||||||
SuzhouSuyuTechnologyCo.,Ltd. | 21,192,950.00 | Strategicinvestment | ||||||
Total | 41,192,950.00 |
Thereisterminationconfirmationinthisperiod
□Applicable?Notapplicable
Disclosureofnon-tradingequityinstrumentinvestmentsinthecurrentperiodbyitem
□Applicable?Notapplicable
17.Long-termreceivables
□Applicable?Notapplicable
18.Long-termequityinvestment
Unit:RMB
Investee | Beginningbalance(bookvalue) | Beginningbalanceofprovisionforimpairment | Changesinincreaseordecreaseinthecurrentperiod | Endingbalance(bookvalue) | Endingbalanceofprovisionforimpairment | ||||||||
Additionalinvestment | Decreaseininvestment | Profitsandlossesoninvestmentrecognizedunderequitymethod | Adjustmenttoothercomprehensiveincome | Otherchangesinequity | Declarationofdistributionforcashdividendsorprofits | Provisionforimpairment | Others | ||||||
I.Jointventure | |||||||||||||
II.Associatedenterprises | |||||||||||||
Tai'anYuchengxinPowerSupplyTechnologyCo.,Ltd. | 9,764,719.19 | 9,764,719.19 | |||||||||||
ShenzhenDakaOptoelectronicsCo.,Ltd. | 5,886,346.16 | -47,053.31 | 5,839,292.85 | ||||||||||
PasElectronicTechnology(Nanjing)Co.,Ltd. | 6,928,835.90 | 6,928,835.90 | 0 | ||||||||||
ShanghaiYidongPowerTechnologyCo.,Ltd. | 10,735,476.85 | -1,013,461.64 | 9,722,015.21 | ||||||||||
DongguanJujinPlasticTechnologyCo.,Ltd. | 20,000,000.00 | 2,186,871.24 | 22,186,871.24 | ||||||||||
Subtotal | 23,550,658.91 | 9,764,719.19 | 20,000,000.00 | 6,928,835.90 | 1,126,356.29 | 37,748,179.30 | 9,764,719.19 | ||||||
Total | 23,550,658.91 | 9,764,719.19 | 20,000,000.00 | 6,928,835.90 | 1,126,356.29 | 37,748,179.30 | 9,764,719.19 |
Therecoverableamountwasdeterminedasthenetamountoffairvaluelessdisposalcosts.
□Applicable?NotapplicableTherecoverableamountwasdeterminedbasedonthepresentvalueofexpectedfuturecashflows.
□Applicable?NotapplicableReasonsforsignificantinconsistencybetweentheaforementionedinformationandtheinformationusedinimpairmenttestsinpreviousyearsorexternalinformation:None.ReasonsforthesignificantinconsistencybetweentheinformationusedintheimpairmenttestoftheCompanyinpreviousyearsandtheactualsituationofthecurrentyear:None.
Otherdescriptions:None.
19.Othernon-currentfinancialassets
□Applicable?Notapplicable
20.Investmentproperty
(1)Investmentpropertywithcostmeasurementmodel?Applicable□Notapplicable
Unit:RMB
Items | Housesandbuildings | Landusageright | Constructioninprogress | Total |
I.Originalbookvalue | ||||
1.Beginningbalance | 119,070,562.06 | 119,070,562.06 | ||
2.Increaseinthecurrentperiod | ||||
(1)Outsourcing | ||||
(2)Transferinofinventory,fixedassetsandconstructioninprogress | ||||
(3)Incrementfromconsolidation | ||||
3.Decreaseinthecurrentperiod | ||||
(1)Disposal | ||||
(2)Othertransferout | ||||
4.Endingbalance | 119,070,562.06 | 119,070,562.06 | ||
II.Accumulateddepreciationandaccumulatedamortization | ||||
1.Beginningbalance | 12,827,784.21 | 12,827,784.21 | ||
2.Increaseinthecurrentperiod | 2,838,375.00 | 2,838,375.00 | ||
(1)Provisionoramortization | 2,838,375.00 | 2,838,375.00 |
3.Decreaseinthecurrentperiod | |||
(1)Disposal | |||
(2)Othertransferout | |||
4.Endingbalance | 15,666,159.21 | 15,666,159.21 | |
III.Provisionforimpairment | |||
1.Beginningbalance | |||
2.Increaseinthecurrentperiod | |||
(1)Accrual | |||
3.Decreaseinthecurrentperiod | |||
(1)Disposal | |||
(2)Othertransferout | |||
4.Endingbalance | |||
IV.Bookvalue | |||
1.Endingbookvalue | 103,404,402.85 | 103,404,402.85 | |
2.Beginningbookvalue | 106,242,777.85 | 106,242,777.85 |
Therecoverableamountwasdeterminedasthenetamountoffairvaluelessdisposalcosts.
□Applicable?NotapplicableTherecoverableamountwasdeterminedbasedonthepresentvalueofexpectedfuturecashflows.
□Applicable?NotapplicableReasonsforsignificantinconsistencybetweentheaforementionedinformationandtheinformationusedinimpairmenttestsinpreviousyearsorexternalinformation:None.
ReasonsforthesignificantinconsistencybetweentheinformationusedintheimpairmenttestoftheCompanyinpreviousyearsandtheactualsituationofthecurrentyear:None.
Otherdescriptions:None.
(2)Investmentpropertywithfairvaluemeasurementmodel
□Applicable?Notapplicable
(3)Conversiontoinvestmentpropertyandmeasurementatfairvalue
□Applicable?Notapplicable
(4)Investmentpropertywithoutpropertycertificateoftitle
□Applicable?Notapplicable
21.Fixedassets
Unit:RMB
Items | Endingbalance | Beginningbalance |
Fixedassets | 2,102,862,886.72 | 1,840,358,093.74 |
Disposaloffixedassets | ||
Total | 2,102,862,886.72 | 1,840,358,093.74 |
(1)Situationaboutfixedassets
Unit:RMB
Items | Housesandbuildings | Machineryandequipment | Transportationequipment | Officeequipmentandothers | Total |
I.Originalbookvalue: | |||||
1.Beginningbalance | 1,210,636,967.86 | 1,121,012,648.11 | 2,952,750.39 | 67,432,207.98 | 2,402,034,574.34 |
2.Increaseinthecurrentperiod | 135,845,791.52 | 307,171,809.54 | 875,973.26 | 15,322,104.70 | 459,215,679.02 |
(1)Purchase | 14,789.14 | 227,437,235.64 | 255,946.23 | 13,520,601.50 | 241,228,572.51 |
(2)Transferintoprojectsunderconstruction | 135,399,615.57 | 73,986,849.74 | 549,253.54 | 1,589,582.98 | 211,525,301.83 |
(3)Incrementfromconsolidation | |||||
(4)Impactofexchangeratechanges | 431,386.81 | 5,747,724.16 | 70,773.49 | 211,920.22 | 6,461,804.68 |
3.Decreaseinthecurrentperiod | 1,232,231.53 | 56,002,302.92 | 238,225.00 | 9,423,390.63 | 66,896,150.08 |
(1)Disposalorscrapping | 1,232,231.53 | 56,002,302.92 | 238,225.00 | 9,423,390.63 | 66,896,150.08 |
4.Endingbalance
4.Endingbalance | 1,345,250,527.85 | 1,372,182,154.73 | 3,590,498.65 | 73,330,922.05 | 2,794,354,103.28 |
II.Accumulateddepreciation | |||||
1.Beginningbalance | 143,928,870.29 | 379,576,810.02 | 2,288,706.56 | 35,882,093.73 | 561,676,480.60 |
2.Increaseinthecurrentperiod | 31,238,119.87 | 128,979,938.68 | 495,974.57 | 10,831,134.10 | 171,545,167.22 |
(1)Accrual | 31,202,321.89 | 128,839,435.71 | 482,267.68 | 10,812,851.18 | 171,336,876.46 |
(2)Impactofexchangeratechanges | 35,797.98 | 140,502.97 | 13,706.89 | 18,282.92 | 208,290.76 |
3.Decreaseinthecurrentperiod | 95,112.87 | 34,254,940.55 | 164,340.24 | 7,216,037.60 | 41,730,431.26 |
(1)Disposalorscrapping | 95,112.87 | 34,254,940.55 | 164,340.24 | 7,216,037.60 | 41,730,431.26 |
4.Endingbalance
4.Endingbalance | 175,071,877.29 | 474,301,808.15 | 2,620,340.89 | 39,497,190.23 | 691,491,216.56 |
III.Provisionforimpairment | |||||
1.Beginningbalance | |||||
2.Increaseinthecurrentperiod | |||||
(1)Accrual | |||||
3.Decreaseinthecurrentperiod | |||||
(1)Disposalorscrapping | |||||
4.Endingbalance |
IV.Bookvalue | |||||
1.Endingbookvalue | 1,170,178,650.56 | 897,880,346.58 | 970,157.76 | 33,833,731.82 | 2,102,862,886.72 |
2.Beginningbookvalue | 1,066,708,097.57 | 741,435,838.09 | 664,043.83 | 31,550,114.25 | 1,840,358,093.74 |
(2)Temporaryidlefixedassets
□Applicable?Notapplicable
(3)Fixedassetsleasedoutthroughoperatinglease
□Applicable?Notapplicable
(4)Fixedassetswithoutcertificateoftitle
Unit:RMB
Items | Bookvalue | Reasonsfornotobtainingthetitlecertificate |
DongNaiFactory,Vietnam | 75,624,339.74 | Shortcompletiontime,thepropertyrightsarecurrentlybeingprocessed |
HuizhouYAKOAutomationPlant | 120,856,655.54 | Itshallbehandledtogetherafterthesecondphaseofthefactoryiscompleted |
(5)Impairmenttestoffixedassets
□Applicable?Notapplicable
(6)Disposaloffixedassets
□Applicable?Notapplicable
22.Constructioninprogress
Unit:RMB
Items | Endingbalance | Beginningbalance |
Constructioninprogress | 568,107,950.65 | 234,775,312.11 |
Total | 568,107,950.65 | 234,775,312.11 |
(1)Projectsunderconstruction
Unit:RMB
Items | Endingbalance | Beginningbalance | ||||
Bookbalance | Provisionforimpairment | Bookvalue | Bookbalance | Provisionforimpairment | Bookvalue | |
DecorationofHuizhouPlant | 183,486.24 | 183,486.24 | 1,155,051.38 | 1,155,051.38 | ||
Topband(India) | 68,648.97 | 68,648.97 | 5,360,095.79 | 5,360,095.79 |
Plant | ||||||
NingboTopbandIndustrialPark | 16,898,437.26 | 16,898,437.26 | 6,548,784.76 | 6,548,784.76 | ||
Testequipmenttobecommissioned | 162,683,370.16 | 162,683,370.16 | 90,444,560.92 | 90,444,560.92 | ||
VietnamDongNaiDecoration | 154,213.01 | 154,213.01 | 1,229,894.49 | 1,229,894.49 | ||
DormitoryrenovationofHuizhouplant | 689,406.28 | 689,406.28 | ||||
HuizhouYAKOAutomationPlant | 112,992,616.66 | 112,992,616.66 | 78,399,893.68 | 78,399,893.68 | ||
QingdaoPlant | 1,835,469.17 | 1,835,469.17 | 1,804,902.19 | 1,804,902.19 | ||
TopbandHuizhouNo.2IndustrialPark | 27,708,391.40 | 27,708,391.40 | 16,352,994.82 | 16,352,994.82 | ||
PlantinRomania | 22,102,695.19 | 22,102,695.19 | ||||
PlantDecorationinShenzhen | 2,314,190.12 | 2,314,190.12 | ||||
NantongLithiumBatteryIndustrialPark | 244,737,333.79 | 244,737,333.79 | 5,259,209.25 | 5,259,209.25 | ||
Sporadicitems | 845,983.99 | 845,983.99 | 3,113,633.24 | 3,113,633.24 | ||
Total | 568,107,950.65 | 568,107,950.65 | 234,775,312.11 | 234,775,312.11 |
(2)Changesintheimportantprojectsunderconstructioninthecurrentperiod
Unit:RMB
Projectname | Budget | Beginningbalance | Increaseinthecurrentperiod | Amountoftransferintofixedassetsthisperiod | Otherdecrementsthisperiod | Endingbalance | Proportionofaccumulatedprojectinvestmentinbudget | Projectprogress | Accumulatedamountofinterestcapitalization | Including:interestcapitalizationamountinthecurrentperiod | Interestcapitalizationrateinthecurrentperiod | Sourceofcapitals |
NingboTopbandIndustrialPark | 465,704,300.00 | 6,548,784.76 | 28,997,753.27 | 12,046,591.59 | 6,601,509.18 | 16,898,437.26 | 91.78% | 92.00% | 6,883,762.50 | 1,821,262.50 | 4.12% | Raisedcapitals |
HuizhouYAKOAutomationPlant | 370,000,000.00 | 78,399,893.68 | 155,449,378.52 | 120,856,655.54 | 112,992,616.66 | 63.20% | 63.00% | 537,708.13 | 537,708.13 | 3.90% | Self-owncapitals | |
TopbandHuizhouNo.2IndustrialPark | 190,000,000.00 | 16,352,994.82 | 11,355,396.58 | 27,708,391.40 | 14.58% | 15.00% | Self-owncapitals | |||||
PlantDecorationinRomania | 31,220,000.00 | 22,102,695.19 | 14,275,234.74 | 36,377,929.93 | 116.52% | 100.00% | Self-owncapitals | |||||
NantongLithiumBatteryIndustrialPark | 800,000,000.00 | 5,259,209.25 | 239,478,124.54 | 244,737,333.79 | 30.59% | 31.00% | Raisedcapitals | |||||
Total | 1,856,924,300.00 | 128,663,577.70 | 449,555,887.65 | 132,903,247.13 | 42,979,439.11 | 402,336,779.11 | 7,421,470.63 | 2,358,970.63 |
(3)Provisionforimpairmentofprojectunderconstructioninthecurrentperiod
□Applicable?Notapplicable
(4)Impairmenttestofconstructioninprogress
□Applicable?Notapplicable
(5)Projectmaterial
□Applicable?Notapplicable
23.Productivebiologicalassets
□Applicable?Notapplicable
24.Oilandgasassets
□Applicable?Notapplicable
25.Right-of-useassets
(1)Right-of-useassets
Unit:RMB
Items | Housesandbuildings | Land | Total |
I.Originalbookvalue | |||
1.Beginningbalance | 151,222,723.36 | 151,222,723.36 | |
2.Increaseinthecurrentperiod | 38,527,606.68 | 5,875,457.96 | 44,403,064.64 |
(1)Newlease | 30,994,048.00 | 5,875,457.96 | 36,869,505.96 |
(2)Impactofexchangeratechanges | 6,558,550.85 | 6,558,550.85 | |
(3)Changeofcontract | 975,007.83 | 975,007.83 | |
3.Decreaseinthecurrentperiod | 9,716,801.16 | 9,716,801.16 | |
(1)Terminationofcontract | 9,716,801.16 | 9,716,801.16 | |
(2)Changeofcontract | |||
4.Endingbalance | 180,033,528.88 | 5,875,457.96 | 185,908,986.84 |
II.Accumulateddepreciation | |||
1.Beginningbalance | 45,025,821.49 | 45,025,821.49 | |
2.Increaseinthecurrentperiod | 46,248,994.56 | 171,367.52 | 46,420,362.08 |
(1)Accrual | 44,789,885.11 | 171,367.52 | 44,961,252.63 |
(2)Impactofexchangeratechanges | 1,459,109.45 | 1,459,109.45 | |
3.Decreaseinthecurrentperiod | 6,984,182.47 | 6,984,182.47 | |
(1)Disposal | 6,984,182.47 | 6,984,182.47 |
4.Endingbalance | 84,290,633.58 | 171,367.52 | 84,462,001.10 |
III.Provisionforimpairment | |||
1.Beginningbalance | |||
2.Increaseinthecurrentperiod | |||
(1)Accrual |
3.Decreaseinthecurrentperiod
3.Decreaseinthecurrentperiod |
(1)Disposal |
4.Endingbalance
4.Endingbalance | |||
IV.Bookvalue | |||
1.Endingbookvalue | 95,742,895.30 | 5,704,090.44 | 101,446,985.74 |
2.Beginningbookvalue | 106,196,901.87 | 106,196,901.87 |
(2)Impairmenttestofright-of-useassets
□Applicable?Notapplicable
26.Intangibleassets
(1)Situationofintangibleassets
Unit:RMB
Items | Landusageright | Patentright | Non-patentedtechnology | Trademark | Total |
I.Originalbookvalue | |||||
1.Beginningbalance | 27,456,858.38 | 340,787,809.19 | 489,043,673.86 | 9,728,450.00 | 867,016,791.43 |
2.Increaseinthecurrentperiod | 1,693,827.04 | 50,432,347.90 | 111,323,498.94 | 163,449,673.88 | |
(1)Purchase | 1,689,601.43 | 50,784,728.62 | 131,067.96 | 52,605,398.01 | |
(2)InternalR&D | 111,192,430.98 | 111,192,430.98 | |||
(3)Incrementfromconsolidation | |||||
(4)Impactofexchangeratechanges | 4,225.61 | -352,380.72 | -348,155.11 | ||
3.Decreaseinthecurrentperiod | |||||
(1)Disposal | |||||
4.Endingbalance | 29,150,685.42 | 391,220,157.09 | 600,367,172.80 | 9,728,450.00 | 1,030,466,465.31 |
II.Accumulatedamortization | |||||
1.Beginningbalance | 22,759,462.08 | 21,339,657.64 | 269,435,470.62 | 6,165,886.52 | 319,700,476.86 |
2.Increaseinthecurrentperiod | 2,280,808.41 | 7,796,093.91 | 93,578,190.18 | 103,655,092.50 | |
(1)Accrual | 2,279,876.48 | 7,835,295.71 | 93,578,190.18 | 103,693,362.37 | |
(2)Impactofexchangeratechanges | 931.93 | -39,201.80 | -38,269.87 | ||
3.Decreaseinthecurrentperiod |
(1)Disposal | |||||
4.Endingbalance | 25,040,270.49 | 29,135,751.55 | 363,013,660.80 | 6,165,886.52 | 423,355,569.36 |
III.Provisionforimpairment | |||||
1.Beginningbalance | |||||
2.Increaseinthecurrentperiod | |||||
(1)Accrual | |||||
3.Decreaseinthecurrentperiod | |||||
(1)Disposal | |||||
4.Endingbalance | |||||
IV.Bookvalue | |||||
1.Endingbookvalue | 4,110,414.93 | 362,084,405.54 | 237,353,512.00 | 3,562,563.48 | 607,110,895.95 |
2.Beginningbookvalue | 4,697,396.30 | 319,448,151.55 | 219,608,203.24 | 3,562,563.48 | 547,316,314.57 |
TheproportionofintangibleassetsformedthroughinternalR&Dinthebalanceofintangibleassetsattheendoftheperiodaccountedfor39.10%.
(2)Situationoflandusagerightwithoutpropertycertificateoftitle
None.
(3)Impairmenttestofintangibleassets
□Applicable?Notapplicable
27.Goodwill
(1)Originalbookvalueofgoodwill
Unit:RMB
Nameofinvesteesoritemsforminggoodwill | Beginningbalance | Increaseinthecurrentperiod | Decrementinthecurrentperiod | Endingbalance | ||
Disposalformedbyconsolidation | Disposal | |||||
ShenzhenYAKOAutomationTechnologyCo.,Ltd. | 107,314,446.71 | 107,314,446.71 | ||||
ShenzhenAlliedControlSystemCo.,Ltd. | 53,768,699.68 | 53,768,699.68 | ||||
ShenzhenMeanstoneIntelligentTechnologyCo.,Ltd. | 3,006,892.59 | 3,006,892.59 | ||||
HangzhouZhidongMotorTechnologyCo.,Ltd. | 1,322,921.77 | 1,322,921.77 | ||||
TaixingNinghuiLithiumBatteryCo.,Ltd. | 1,962,891.12 | 1,962,891.12 | ||||
ShenzhenTengyiIndustrialCo.,Ltd. | 131,783.24 | 131,783.24 | ||||
Total | 167,507,635.11 | 167,507,635.11 |
(2)Impairmentofgoodwill
Unit:RMB
Nameofinvesteesoritemsforminggoodwill | Beginningbalance | Increaseinthecurrentperiod | Decrementinthecurrentperiod | Endingbalance | ||
Provision | Disposal | |||||
ShenzhenAlliedControlSystemCo.,Ltd. | 53,768,699.68 | 53,768,699.68 | ||||
ShenzhenMeanstoneIntelligentTechnologyCo.,Ltd. | 3,006,892.59 | 3,006,892.59 | ||||
Total | 56,775,592.27 | 56,775,592.27 |
(3)Informationabouttheassetgrouporportfolioofgoodwill
None
(4)SpecificmethodfordeterminingrecoverableamountTherecoverableamountwasdeterminedasthenetamountoffairvaluelessdisposalcosts.
□Applicable?NotapplicableTherecoverableamountwasdeterminedbasedonthepresentvalueofexpectedfuturecashflows.
□Applicable?NotapplicableReasonsforthesignificantinconsistencybetweentheabove-mentionedinformationandtheinformationusedintheimpairmenttestinpreviousyearsorexternalinformationReasonsforthesignificantinconsistencybetweentheinformationusedintheimpairmenttestoftheCompanyinpreviousyearsandtheactualsituationofthecurrentyear
(5)CompletionofperformancecommitmentsandcorrespondinggoodwillimpairmentTherewasaperformancecommitmentwhengoodwillwasformedandtheReportingPeriodortheperiodbeforetheReportingPeriodwaswithintheperformancecommitmentperiod
□Applicable?NotapplicableOtherdescriptions:None
28.Long-termdeferredexpenses
Unit:RMB
Items | Beginningbalance | Increaseinthecurrentperiod | Amortizationinthecurrentperiod | Otherreducedamount | Endingbalance |
Decorationcosts | 132,090,828.44 | 106,944,571.48 | 52,053,096.14 | 4,692,865.17 | 182,289,438.61 |
Others | 130,736.79 | 555,889.34 | 171,656.64 | 514,969.49 | |
Total | 132,221,565.23 | 107,500,460.82 | 52,224,752.78 | 4,692,865.17 | 182,804,408.10 |
29.Deferredtaxassets/deferredtaxliabilities
(1)Non-offsetdeferredtaxassets
Unit:RMB
Items | Endingbalance | Beginningbalance | ||
Deductibletemporarydifferences | Deferredtaxassets | Deductibletemporarydifferences | Deferredtaxassets | |
Provisionforassetimpairment | 294,545,474.56 | 46,678,454.85 | 281,652,280.08 | 43,628,391.64 |
Deductibleloss | 390,699,314.09 | 65,486,472.23 | 188,813,388.08 | 39,381,980.91 |
Amortizationdifferenceofintangibleassets | 133,446,425.92 | 20,016,963.88 | 94,689,166.74 | 14,203,375.01 |
Deferredincome | 11,071,292.42 | 1,881,581.86 | 13,245,250.14 | 1,986,787.52 |
Equityincentiveexpenses | 62,111,490.83 | 9,316,723.62 | ||
Newleasingcriteriabook-taxdifference | 107,881,215.35 | 20,976,523.71 | 109,622,378.17 | 20,769,946.22 |
Total | 937,643,722.34 | 155,039,996.53 | 750,133,954.04 | 129,287,204.92 |
(2)Deferredtaxliabilitieswithoutoffset
Unit:RMB
Items | Endingbalance | Beginningbalance | ||
Taxabletemporarydifference | Deferredtaxliabilities | Taxabletemporarydifference | Deferredtaxliabilities | |
Valuationandappreciationofassetsofbusinessconsolidationunderdifferentcontrol | 412,730.28 | 61,909.54 | 857,693.62 | 128,654.04 |
Changesinfairvalueoftradablefinancialassets | 248,096,517.73 | 41,833,063.71 | 235,561,014.47 | 39,250,529.22 |
Book-taxdifferenceoffixedassetsdepreciation | 71,278,660.11 | 14,299,191.58 | 51,414,751.05 | 10,622,182.15 |
Book-taxdifferenceofrentalincome | 6,120,608.60 | 1,530,152.15 | 4,571,154.88 | 1,142,788.72 |
Newleasingcriteriabook-taxdifference | 102,290,793.51 | 20,006,539.83 | 105,092,583.59 | 19,947,728.52 |
Total | 428,199,310.23 | 77,730,856.81 | 397,497,197.61 | 71,091,882.65 |
(3)Deferredtaxassetsorliabilitieslistedbynetamountafteroffset
Unit:RMB
Items | Amountofoffsetbetweendeferredtaxassetsandliabilitiesattheendoftheperiod | Endingbalanceofdeferredtaxassetsorliabilitiesafteroffset | Amountofmutualoffsetbetweendeferredtaxassetsandliabilitiesatthebeginningoftheperiod | Beginningbalanceofdeferredtaxassetsorliabilitiesafteroffset |
Deferredtaxassets | 155,039,996.53 | 129,287,204.92 | ||
Deferredtaxliabilities | 77,730,856.81 | 71,091,882.65 |
(4)Detailsofunrecognizeddeferredtaxassets
Unit:RMB
Items | Endingbalance | Beginningbalance |
Deductibletemporarydifferences | 13,441,041.61 | 14,185,355.88 |
Deductibleloss | 170,793,360.18 | 73,447,423.03 |
Total | 184,234,401.79 | 87,632,778.91 |
(5)Deductiblelossofunrecognizeddeferredtaxassetswillmatureinthefollowingyears
Unit:RMB
Year | Endingamount | Beginningamount | Remarks |
2024 | 796.72 | ||
2025 | 2,106,518.93 | 2,034,722.96 | |
2026 | 14,899,970.42 | 14,435,579.52 | |
2027 | 26,254,597.91 | 27,240,120.80 | |
2028 | 27,003,257.68 | ||
Notimelimit | 100,528,218.52 | 29,736,999.75 | |
Total | 170,793,360.18 | 73,447,423.03 |
Note:Thedeductiblelossesofunrecognizeddeferredtaxassetswithnomaturityperiodarerecoverablelossesofoverseassubsidiaries,andtherearenolocalpolicyrequirementsfordeductibleperiods.
30.Othernon-currentassets
Unit:RMB
Items | Endingbalance | Beginningbalance | ||||
Bookbalance | Provisionforimpairment | Bookvalue | Bookbalance | Provisionforimpairment | Bookvalue | |
Prepaidlong-termassets | 120,187,135.05 | 120,187,135.05 | 172,371,288.80 | 172,371,288.80 | ||
Total | 120,187,135.05 | 120,187,135.05 | 172,371,288.80 | 172,371,288.80 |
31.Assetswithlimitedownershiporuseright
Unit:RMB
Items | Endoftheperiod | Beginningoftheperiod | ||||||
Bookbalance | Bookvalue | Restrictiontype | Restrictionsituation | Bookbalance | Bookvalue | Restrictiontype | Restrictionsituation | |
Monetarycapital | 39,587,800.49 | 39,587,800.49 | Securitydeposit,judicialfreeze,andfinancial | Securitydeposit,financialmanagementfundsinthe | 18,937,494.54 | 18,937,494.54 | Securitydeposit,andfrozenfunds | Securitydeposit,frozenfunds,long-term |
managementinthesubscriptionperiod | subscriptionperiod,andfrozenfunds | suspendedaccount,etc. | ||||||
Fixedassets | 120,856,655.54 | 119,899,873.68 | Mortgageloan | Mortgageloansforbuildings | ||||
Intangibleassets | 61,302,043.62 | 59,492,901.97 | Mortgageloan | Mortgageloansforlanduserights | ||||
Constructioninprogress | 112,992,616.66 | 112,992,616.66 | Mortgageloan | Mortgageloansforprojectsunderconstruction | ||||
Total | 334,739,116.31 | 331,973,192.80 | 18,937,494.54 | 18,937,494.54 |
32.Short-termloans
(1)Classificationofshort-termloans
Unit:RMB
Items | Endingbalance | Beginningbalance |
Creditloan | 218,148,750.00 | 12,325,580.00 |
Letterofcredit | 60,000,000.00 | 265,000,000.00 |
Discountedunexpirednotesreceivable | 1,200,000.00 | 6,025,915.57 |
Total | 279,348,750.00 | 283,351,495.57 |
(2)Overdueshort-termloans
Thetotalamountofoverdueshort-termloansattheendofthisperiodis0.
33.TradablefinancialliabilitiesNone.
34.Derivativefinancialliabilities
None.
35.Notespayable
Unit:RMB
Category | Endingbalance | Beginningbalance |
Commercialacceptancebill | 927,833,178.70 | 1,065,652,340.80 |
Total | 927,833,178.70 | 1,065,652,340.80 |
ThetotalamountofnotespayableduebutunpaidattheendofthecurrentperiodwasRMB0.00.
36.Accountspayable
(1)Accountspayablelisted
Unit:RMB
Items | Endingbalance | Beginningbalance |
Within1year(including1year) | 1,953,706,413.01 | 1,601,875,172.01 |
1-2years(including2years) | 2,139,042.19 | 940,565.81 |
2-3years(including3years) | 598,185.50 | 2,570,462.09 |
Above3years | 1,182,755.64 | 1,060,004.11 |
Total | 1,957,626,396.34 | 1,606,446,204.02 |
(2)Therewerenosignificantaccountspayableoveroneyearoroverdueattheendoftheperiod.
37.Otherpayables
Unit:RMB
Items | Endingbalance | Beginningbalance |
Otheraccountpayable | 151,341,029.40 | 335,047,520.52 |
Total | 151,341,029.40 | 335,047,520.52 |
(1)Interestpayable
□Applicable?Notapplicable
(2)Dividendspayable
□Applicable?Notapplicable
(3)Otherpayables
1)Otherpayableslistedbyfundnature
Unit:RMB
Items | Endingbalance | Beginningbalance |
Restrictedstockrepurchaseobligations | 343,896.00 | 231,812,873.60 |
Expenses | 23,067,327.79 | 25,199,800.55 |
Long-termassets | 60,945,718.78 | 42,160,937.47 |
Margin,deposit | 9,559,259.36 | 7,162,370.39 |
Currentaccounts | 37,115,852.17 | 17,398,987.82 |
Others | 20,308,975.30 | 11,312,550.69 |
Total | 151,341,029.40 | 335,047,520.52 |
2)Othersignificantpayablesagedover1yearoroverdue
□Applicable?Notapplicable
3)OtheraccountspayableofthetopfiveendingbalancesbycounterpartyOtherdescriptions:None.
38.Advancecollections
(1)Presentationofadvancecollections
Unit:RMB
Items | Endingbalance | Beginningbalance |
Within1year(including1year) | 2,808,227.54 | 1,130,165.23 |
Total | 2,808,227.54 | 1,130,165.23 |
(2)Importantadvancecollectionswithagingover1yearoroverdue
□Applicable?Notapplicable
39.Contractualliabilities
Unit:RMB
Items | Endingbalance | Beginningbalance |
Advancesonsales | 168,681,571.89 | 138,281,929.17 |
Total | 168,681,571.89 | 138,281,929.17 |
Significantcontractliabilitiesagedover1year
□Applicable?Notapplicable
40.Employeepaypayable
(1)Presentationofemployeepaypayable
Unit:RMB
Items | Beginningbalance | Increaseinthecurrentperiod | Decrementinthecurrentperiod | Endingbalance |
I.Short-termcompensation | 206,810,975.44 | 1,633,454,392.76 | 1,597,150,318.72 | 243,115,049.48 |
II.Post-employmentbenefits-definedcontributionplan | 168,797.71 | 77,933,749.19 | 77,949,813.25 | 152,733.65 |
Total | 206,979,773.15 | 1,711,388,141.95 | 1,675,100,131.97 | 243,267,783.13 |
(2)Presentationofshort-termremuneration
Unit:RMB
Items | Beginningbalance | Increaseinthecurrentperiod | Decrementinthecurrentperiod | Endingbalance |
1.Wages,bonuses,allowancesandsubsidies | 203,678,977.95 | 1,508,440,413.03 | 1,473,699,836.63 | 238,419,554.35 |
2.Employeebenefits | 43,226.15 | 38,436,266.96 | 38,366,570.53 | 112,922.58 |
3.Socialinsuranceexpense | 529,503.33 | 43,288,620.01 | 42,304,542.01 | 1,513,581.33 |
Including:medicalinsurancepremiums | 525,104.36 | 39,332,379.75 | 38,347,932.40 | 1,509,551.71 |
Industrialinjuryinsuranceexpense | 4,398.97 | 1,741,208.50 | 1,741,577.85 | 4,029.62 |
Maternityinsuranceexpense | 2,215,031.76 | 2,215,031.76 | ||
4.Housingprovidentfund | 41,972,694.87 | 41,972,694.87 | ||
5.Tradeunionfundsandstaffeducationfunds | 50,089.90 | 354,559.90 | 404,160.52 | 489.28 |
8.Others | 2,509,178.11 | 961,837.99 | 402,514.16 | 3,068,501.94 |
Total | 206,810,975.44 | 1,633,454,392.76 | 1,597,150,318.72 | 243,115,049.48 |
(3)Listofdefinedcontributionplan
Unit:RMB
Items | Beginningbalance | Increaseinthecurrentperiod | Decrementinthecurrentperiod | Endingbalance |
1.Basicendowmentinsurance | 161,799.37 | 76,468,177.52 | 76,483,753.45 | 146,223.44 |
2.Unemploymentinsuranceexpense | 6,998.34 | 1,465,571.67 | 1,466,059.80 | 6,510.21 |
Total | 168,797.71 | 77,933,749.19 | 77,949,813.25 | 152,733.65 |
41.Taxespayable
Unit:RMB
Items | Endingbalance | Beginningbalance |
VAT(value-addedtax) | 38,272,199.07 | 53,017,545.90 |
Corporateincometax | 27,477,646.56 | 19,648,268.34 |
Individualincometax | 14,288,257.83 | 11,251,522.04 |
Urbanmaintenanceandconstructiontax | 1,068,455.46 | 336,488.64 |
Educationsurcharge | 763,182.49 | 240,581.55 |
Propertytax | 8,767,641.43 | 3,647,511.72 |
Landusetax | 1,184,938.91 | 174,669.06 |
Stampdutyandothers | 552,283.82 | 88,927.40 |
Total | 92,374,605.57 | 88,405,514.65 |
42.Liabilitiesheldforsale
□Applicable?Notapplicable
43.Non-currentliabilitiesduewithinoneyear
Unit:RMB
Items | Endingbalance | Beginningbalance |
Long-termborrowingsduewithinoneyear | 326,208,942.16 | 37,135,000.00 |
Leaseliabilitiesduewithinoneyear | 44,414,655.87 | 38,221,303.72 |
Total | 370,623,598.03 | 75,356,303.72 |
44.Othercurrentliabilities
Unit:RMB
Items | Endingbalance | Beginningbalance |
Taxamounttoberesold | 3,598,492.74 | 3,379,987.09 |
Notesreceivablethathavebeenendorsedbutnotderecognized | 28,963,200.29 | 19,096,443.65 |
Total | 32,561,693.03 | 22,476,430.74 |
45.Long-termloans
(1)Classificationoflong-termloan
Unit:RMB
Items | Endingbalance | Beginningbalance |
Mortgageloan | 500,000.00 | |
Guaranteedloan | 84,000,000.00 | |
Creditloan | 345,679,999.99 | 497,500,000.00 |
Mortgage+guaranteedloan | 91,567,877.48 | |
Total | 437,747,877.47 | 581,500,000.00 |
Explanationoflong-termloanclassification:None.Otherdescriptions,includinginterestrateranges:None.
46.Bondspayable
□Applicable?Notapplicable
47.Leaseliabilities
Unit:RMB
Items | Endingbalance | Beginningbalance |
Rentalpayment | 69,176,893.60 | 86,053,288.78 |
Unrecognizedfinancingexpenses | -7,747,082.57 | -12,442,497.69 |
Total | 61,429,811.03 | 73,610,791.09 |
Otherdescriptions:None.
48.Long-termpayables
□Applicable?Notapplicable
49.Long-termemployeecompensationpayable
□Applicable?Notapplicable
50.Estimatedliabilities
□Applicable?Notapplicable
51.Deferredincome
Unit:RMB
Items | Beginningbalance | Increaseinthecurrentperiod | Decrementinthecurrentperiod | Endingbalance | Reasonsofformation |
Governmentalsubsidies | 13,370,250.14 | 2,761,100.00 | 4,985,057.72 | 11,146,292.42 | Governmentalsubsidiesrelatedtoassets |
Total | 13,370,250.14 | 2,761,100.00 | 4,985,057.72 | 11,146,292.42 | -- |
52.Othernon-currentliabilities
□Applicable?Notapplicable
53.Sharecapital
Unit:RMB
Beginningbalance | Increaseordecreaseofchangethistime(+,-) | Endingbalance | |||||
Issuanceofnewshares | Stockdividend | Conversionofaccumulationfundintoshares | Others | Subtotal | |||
Totalnumberofshares | 1,269,535,372.00 | -22,700,384.00 | -22,700,384.00 | 1,246,834,988.00 |
Note:ThesharecapitaldecreasedbyRMB22,700,384.00inthisperiod,whichwasduetotherepurchaseandcancellationresultedfromtheresignationoftheincentivetargetsandthecancellationofthe2021RestrictedStockIncentivePlan.
54.Otherequityinstruments
(1)BasicinformationonotherfinancialinstrumentssuchaspreferredsharesandperpetualbondsoutstandingattheendoftheperiodNone.
(2)Changesinoutstandingpreferredstocks,perpetualbondsandotherfinancialinstrumentsattheendoftheperiod
None.
55.Capitalreserve
Unit:RMB
Items | Beginningbalance | Increaseinthecurrentperiod | Decrementinthecurrentperiod | Endingbalance |
Capitalpremium(sharepremium) | 2,121,733,860.51 | 73,441,428.60 | 138,926,350.08 | 2,056,248,939.03 |
Othercapitalreserves | 144,408,337.93 | 85,569,433.84 | 73,596,791.29 | 156,380,980.48 |
Total | 2,266,142,198.44 | 159,010,862.44 | 212,523,141.37 | 2,212,629,919.51 |
Note1:RMB73,441,428.60wasincreasedinthecapitalpremiumthisyearasRMB73,441,428.60optionfeerecognizedinothercapitalsurplusofthepriorperiodwastransferredtothecapitalpremiumbecauseofthereleaseoftherestrictedshares.ThedecreaseofRMB138,926,350.08insharepremiumthisyearwasduetotherepurchaseandcancellationofstocksresultingfromtheterminationofthe2021RestrictedStockIncentivePlanandtheresignationofincentivetargets,whichoffsetthesharepremium.
Note2:OthercapitalreservesincreasedbyRMB85,569,433.84thisyear,includingRMB79,290,114.83ofshare-basedpaymentexpensesconfirmedbyrestrictedstockequityincentiveplaninthecurrentperiodandRMB6,279,319.01ofshare-basedpaymentconfirmedbyHuizhouYAKOAutomationTechnologyCo.,Ltd.(subsidiary).OthercapitalreservesdecreasedbyRMB73,596,791.29thisyear,ofwhich:thereleaseandexerciseofrestrictedshareswastransferredtosharepremium,whichreducedothercapitalreservesbyRMB73,441,428.60;thecapitalincreaseofTaixingNinghuiLithiumBatteryCo.,Ltd.affectedthecapitalreserveattheconsolidatedleveltodecreasebyRMB155,362.69.
56.Treasuryshares
Unit:RMB
Items | Beginningbalance | Increaseinthecurrentperiod | Decrementinthecurrentperiod | Endingbalance |
Restrictedstockrepurchaseobligations | 231,812,873.60 | 231,812,873.60 |
Repurchaseofcompanysharesincompetitivetrading | 52,444,981.31 | 59,981,119.93 | 112,426,101.24 | |
Total | 284,257,854.91 | 59,981,119.93 | 231,812,873.60 | 112,426,101.24 |
57.Othercomprehensiveincome
Unit:RMB
Items | Beginningbalance | Amountincurredinthecurrentperiod | Endingbalance | |||||
Amountofpre-incometaxincurredinthecurrentperiod | Minus:profitsandlossesincludedinothercomprehensiveincomepreviouslyandtransferredinthecurrentperiod | Minus:currentretainedearningsincludedinothercomprehensiveincomeinthepreviousperiod | Minus:incometaxexpense | Attributabletoparentcompanyaftertax | Attributabletominorityshareholdersaftertax | |||
II.Othercomprehensiveincomethatisreclassifiedintoprofitsandlosses | -8,479,622.35 | 20,411,651.76 | 20,411,651.76 | 11,932,029.41 | ||||
Differenceintranslationofforeigncurrencyfinancialstatements | -8,479,622.35 | 20,411,651.76 | 20,411,651.76 | 11,932,029.41 | ||||
Totalamountofothercomprehensiveincome | -8,479,622.35 | 20,411,651.76 | 20,411,651.76 | 11,932,029.41 |
58.Specialreserve
□Applicable?Notapplicable
59.Surplusreserves
Unit:RMB
Items | Beginningbalance | Increaseinthecurrentperiod | Decrementinthecurrentperiod | Endingbalance |
Statutorysurplusreserve | 214,764,194.14 | 4,682,742.45 | 219,446,936.59 | |
Total | 214,764,194.14 | 4,682,742.45 | 219,446,936.59 |
Explanationofthesurplusreserve,includingthechangesinincreaseordecreaseinthecurrentperiodandthereasonsforchanges:None.
60.Retainedearnings
Unit:RMB
Items | Currentperiod | Previousperiod |
Retainedearningsattheendofthepreviousperiodbeforeadjustment | 2,270,819,171.01 | 1,779,243,483.61 |
Totalretainedearningsatthebeginningoftheperiod(+forincrease,-fordecrease) | 710,522.81 | 365,494.43 |
Retainedearningsatthebeginningoflastperiodafteradjustment | 2,271,529,693.82 | 1,779,608,978.04 |
Plus:netprofitattributabletoownersofparentcompanyincurrentyear | 515,513,995.18 | 583,000,286.76 |
Minus:appropriationofstatutorysurplusreserves | 4,682,742.45 | 28,366,562.38 |
Commonstockdividendspayable | 75,861,250.32 | 62,713,008.60 |
Retainedearningsattheendoftheperiod | 2,706,499,696.23 | 2,271,529,693.82 |
Detailsofretainedearningsatthebeginningofadjustmentperiod:
1)DuetoretrospectiveadjustmentinaccordancewiththeAccountingStandardsforBusinessEnterprisesanditsrelatednewregulations,thebeginningretainedearningsofRMB0.00wereaffected.
2)Duetothechangeinaccountingpolicy,thebeginningretainedearningsofRMB710,522.81wereaffected.
3)Duetothecorrectionofmajoraccountingerrors,thebeginningretainedearningsofRMB0.00wereaffected.
4)Duetothechangeinthescopeofconsolidationcausedbycommoncontrol,thebeginningretainedearningsofRMB0.00wereaffected.
5)ThebeginningretainedearningsofRMB0.00wereaffectedbyotheradjustments.
61.Operatingincomeandoperatingcosts
Unit:RMB
Items | Amountincurredinthecurrentperiod | Amountincurredinpriorperiod | ||
Income | Cost | Income | Cost | |
Mainbusiness | 8,934,867,692.01 | 6,955,649,634.03 | 8,836,386,705.11 | 7,078,885,305.98 |
Otherbusiness | 57,474,477.07 | 30,674,810.49 | 38,712,431.95 | 8,341,680.90 |
Total | 8,992,342,169.08 | 6,986,324,444.52 | 8,875,099,137.06 | 7,087,226,986.88 |
Istheauditednetprofitbeforeandafterdeductingthenon-recurringprofitandloss(whicheverislower)negative?
□Yes?No
Thebreakdownofoperatingincomeandoperatingcosts:
□Applicable?NotapplicableInformationrelatedtoperformanceobligations:
□Applicable?NotapplicableSignificantcontractchangesorsignificanttransactionpriceadjustments
□Applicable?Notapplicable
62.Taxesandsurcharges
Unit:RMB
Items | Amountincurredinthecurrentperiod | Amountincurredinpriorperiod |
Urbanmaintenanceandconstructiontax | 20,889,516.99 | 22,104,766.90 |
Educationsurcharge | 14,922,148.34 | 15,789,417.57 |
Propertytax | 10,911,411.26 | 10,105,204.62 |
Landusetax | 1,939,963.52 | 1,640,955.29 |
Stampduty | 6,713,329.11 | 9,544,596.67 |
Others | 88,332.70 | 209,827.30 |
Total | 55,464,701.92 | 59,394,768.35 |
63.Overheads
Unit:RMB
Items | Amountincurredinthecurrentperiod | Amountincurredinpriorperiod |
Employeecompensation | 237,347,006.91 | 202,600,465.16 |
Decorationcosts | 27,505,219.23 | 20,922,117.86 |
Intermediaryserviceexpenses | 18,641,303.03 | 14,920,006.17 |
Depreciationandamortization | 57,553,657.92 | 42,055,068.30 |
Rentandutilities | 15,076,698.26 | 6,564,412.32 |
Low-valueconsumables | 10,420,181.65 | 9,426,710.31 |
Propertyinsuranceexpenses | 6,696,256.30 | 5,465,439.61 |
Officeexpenses | 8,159,259.57 | 9,427,291.32 |
Equityincentiveexpenses | 20,519,411.61 | 30,803,647.94 |
Travelexpenses | 10,496,552.41 | 7,853,325.04 |
Recruitmentexpenses | 668,210.10 | 1,479,131.93 |
Royalties | 3,012,624.33 | 3,928,633.31 |
Businessentertainmentexpenses | 4,526,740.60 | 3,154,186.69 |
Maintenancefees | 4,717,311.59 | 1,880,084.37 |
Others | 13,020,909.15 | 9,022,225.03 |
Total | 438,361,342.66 | 369,502,745.36 |
64.Salesexpenses
Unit:RMB
Items | Amountincurredinthecurrentperiod | Amountincurredinpriorperiod |
Employeecompensation | 177,930,070.58 | 154,170,333.91 |
Low-valueconsumables | 6,248,905.04 | 4,674,650.75 |
Businessentertainmentexpenses | 24,191,961.31 | 15,604,369.50 |
Travelexpenses | 21,837,455.26 | 8,814,511.30 |
Intermediaryserviceexpenses | 24,056,095.72 | 19,354,887.13 |
Exhibitionandadvertisingfees | 11,939,949.08 | 7,559,811.10 |
Materialsexpenses | 14,618,806.87 | 11,175,625.80 |
Mailexpenses | 2,127,799.43 | 1,954,588.01 |
Equityincentiveexpenses | 16,782,757.00 | 22,864,675.20 |
Customscharges | 2,332,947.47 | 2,883,673.61 |
Rentandutilities | 2,795,464.97 | 2,964,947.90 |
Others | 17,478,371.76 | 8,159,096.67 |
Total | 322,340,584.49 | 260,181,170.88 |
65.R&Dexpenses
Unit:RMB
Items | Amountincurredinthecurrentperiod | Amountincurredinpriorperiod |
Employeecompensation | 402,934,357.32 | 335,394,101.32 |
Depreciationandamortization | 114,207,065.14 | 92,403,641.99 |
Materialexpenses | 46,759,862.86 | 30,803,656.42 |
Equityincentiveexpenses | 34,765,522.02 | 56,384,583.55 |
Moldfee | 19,041,570.90 | 20,693,229.51 |
Intermediaryserviceexpenses | 12,732,354.18 | 10,656,282.28 |
Low-valueconsumables | 9,121,231.77 | 5,457,987.48 |
Testingexpense | 10,684,965.27 | 7,199,211.70 |
Decorationcosts | 4,179,747.04 | 5,203,379.48 |
Rentandutilities | 10,501,013.89 | 10,313,572.30 |
Travelexpenses | 7,391,806.97 | 3,544,510.11 |
Others | 17,650,113.62 | 14,291,979.95 |
Total | 689,969,610.98 | 592,346,136.09 |
66.Financialexpenses
Unit:RMB
Items | Amountincurredinthecurrentperiod | Amountincurredinpriorperiod |
Interestexpense | 38,085,866.07 | 35,262,744.35 |
Interestrevenue(incomemarkedwith"-") | -36,588,417.62 | -22,969,451.22 |
Exchangegains(incomemarkedwith"-") | -55,439,182.32 | -138,431,161.16 |
Procedurefeesandothers | 2,233,049.94 | 2,964,605.13 |
Total | -51,708,683.93 | -123,173,262.90 |
67.Otherrevenues
Unit:RMB
Sourceforotherrevenues | Amountincurredinthecurrentperiod | Amountincurredinpriorperiod |
Governmentalsubsidies | 32,905,181.89 | 33,217,045.91 |
Value-addedtaxrebateandrefundondemand | 7,901,050.41 | 5,231,680.35 |
Returnofindividualincometaxservicecharge | 1,169,120.09 | 734,101.69 |
Additionaldeductionofinputtax | 23,473,502.51 | |
Total | 65,448,854.90 | 39,182,827.95 |
68.Netexposurehedgingrevenue
□Applicable?Notapplicable
69.Fairvaluechangerevenue
Unit:RMB
Sourcesofincomefromchangeinfairvalue | Amountincurredinthecurrentperiod | Amountincurredinpriorperiod |
Tradablefinancialassets | 12,535,503.26 | 87,818,625.99 |
Total | 12,535,503.26 | 87,818,625.99 |
70.Investmentincome
Unit:RMB
Items | Amountincurredinthecurrentperiod | Amountincurredinpriorperiod |
Long-termequityinvestmentincomeaccountedbytheequitymethod | 1,126,356.29 | -2,568,468.91 |
Investmentincomefromdisposaloflong-termequityinvestments | -2,928,835.90 | |
Investmentincomefromdisposaloftradingfinancialassets | -12,299,596.79 | |
Investmentincomeoffinancialproducts | 4,405,964.89 | 139,141.31 |
Forwardforeignexchangecontractsettlementprofitandloss | -1,538,474.98 | 2,994,236.07 |
Total | -11,234,586.49 | 564,908.47 |
71.Creditimpairmentloss
Unit:RMB
Items | Amountincurredinthecurrentperiod | Amountincurredinpriorperiod |
Baddebtlossonnotesreceivable | 187,784.00 | -28,563.01 |
Baddebtlossofaccountsreceivable | -1,076,727.19 | -46,998,677.16 |
Baddebtlossofotherreceivables | -2,130,985.29 | -2,344,758.97 |
Total | -3,019,928.48 | -49,371,999.14 |
72.Assetimpairmentloss
Unit:RMB
Items | Amountincurredinthecurrentperiod | Amountincurredinpriorperiod |
I.Lossoninventoryvaluationandcontractperformancecostimpairmentloss | -70,707,401.38 | -69,957,962.94 |
Total | -70,707,401.38 | -69,957,962.94 |
73.Assetsdisposalrevenue
Unit:RMB
Sourceofassetsdisposalrevenue | Amountincurredinthecurrentperiod | Amountincurredinpriorperiod |
Non-currentassetsdisposalrevenue | -1,426,087.98 | -1,612,652.02 |
Total | -1,426,087.98 | -1,612,652.02 |
74.Non-operatingincome
Unit:RMB
Items | Amountincurredinthecurrentperiod | Amountincurredinpriorperiod | Amountincludedinthecurrentnon-recurringprofitandloss |
Gainsondamageandscrappingofnon-currentassets | 6,918.33 | 906,885.79 | 6,918.33 |
Others | 6,772,838.61 | 5,436,495.16 | 6,772,838.61 |
Total | 6,779,756.94 | 6,343,380.95 |
Otherdescriptions:
None.
75.Non-operatingexpenses
Unit:RMB
Items | Amountincurredinthecurrentperiod | Amountincurredinpriorperiod | Amountincludedinthecurrentnon-recurringprofitandloss |
Externaldonations | 100,000.00 | 100,000.00 | |
Lossondamageandscrappingofnon-currentassets | 9,980,597.19 | 2,439,687.26 | 9,980,597.19 |
Customerqualitydeductionexpenses | 2,301,946.85 | 5,072,526.83 | 2,301,946.85 |
Others | 8,898,962.23 | 1,797,787.24 | 8,898,962.23 |
Total | 21,281,506.27 | 9,310,001.33 | 21,281,506.27 |
76.Incometaxexpenses
(1)Tableofincometaxexpenses
Unit:RMB
Items | Amountincurredinthecurrentperiod | Amountincurredinpriorperiod |
Currentincometaxexpenses | 35,722,550.85 | 63,736,073.65 |
Deferredtaxexpense | -18,986,416.44 | -12,654,044.16 |
Total | 16,736,134.41 | 51,082,029.49 |
(2)Adjustmentprocessofaccountingprofitsandincometaxexpenses
Unit:RMB
Items | Amountincurredinthecurrentperiod |
Totalprofit | 528,684,772.94 |
Incometaxexpensescalculatedatstatutory/applicabletaxrates | 79,302,715.94 |
Influenceofdifferenttaxratesapplicabletosubsidiary | 11,906,258.38 |
Effectofincometaxadjustmentinpreviousperiod | -10,582,760.20 |
Impactofnon-taxableincome | -1,280,573.50 |
Impactofnon-deductiblecost,expenseandloss | 3,127,437.52 |
Impactofdeductibletemporarydifferencesordeductiblelossesofunrecognizeddeferredtaxassetsinthecurrentperiod | 23,507,474.94 |
Theimpactofchangesintaxratesontheinitialbalanceofdeferredtax | 3,645,279.15 |
Additionaldeductionoftechnicaldevelopmentcost | -55,843,353.71 |
Vietnamsubsidiariesenjoyhalftaxreductionandtaxexemption | -41,781,286.39 |
Otheradjustmentimpact | 4,734,942.28 |
Incometaxexpenses | 16,736,134.41 |
77.Othercomprehensiveincome
SeeNoteVII.57fordetails.
78.Itemsofcashflowstatement
(1)CashrelatedtooperatingactivitiesOthercashreceivedrelatedtooperatingactivities
Unit:RMB
Items | Amountincurredinthecurrentperiod | Amountincurredinpriorperiod |
Currentaccounts | 49,712,189.21 | 66,422,718.48 |
Interestincome | 30,275,917.62 | 22,969,451.22 |
Governmentalsubsidies | 39,284,724.17 | 32,202,096.05 |
Depositsandsecuritydepositsreceived | 7,526,394.61 | 3,458,869.84 |
Others | 1,772,682.72 | 3,848,757.03 |
Total | 128,571,908.33 | 128,901,892.62 |
Explanationofothercashreceivedrelatedtooperatingactivities:
None.Othercashpaidinconnectionwithoperatingactivities
Unit:RMB
Items | Amountincurredinthecurrentperiod | Amountincurredinpriorperiod |
Servicecharge | 2,233,049.94 | 2,964,605.13 |
Out-of-pocketexpenses | 305,150,285.53 | 243,947,454.24 |
Marginanddepositexpenses | 5,334,308.14 | 8,772,578.49 |
Others | 15,791,668.91 | 7,204,934.27 |
Total | 328,509,312.52 | 262,889,572.13 |
Explanationofothercashpaidrelatedtooperatingactivities:
None.
(2)Othercashreceivedrelatingtoinvestmentactivities
Othercashreceivedrelatingtoinvestmentactivities
□Applicable?NotapplicableImportantcashreceivedrelatingtoinvestmentactivities
□Applicable?NotapplicableExplanationofothercashreceivedrelatedtoinvestmentactivities:
None.Othercashpaidrelatedtoinvestmentactivities
Unit:RMB
Items | Amountincurredinthecurrentperiod | Amountincurredinpriorperiod |
Convertibleloan | 9,000,000.00 | |
Forexmargin | 2,234,116.83 | |
Forwardforeignexchangeliquidationlossespaid | 8,355,799.98 | |
Total | 10,589,916.81 | 9,000,000.00 |
Importantcashpaidrelatedtoinvestmentactivities
□Applicable?Notapplicable
(3)CashrelatingtofinancingactivitiesOthercashreceivedrelatingtofinancingactivities
Unit:RMB
Items | Amountincurredinthecurrentperiod | Amountincurredinpriorperiod |
Marginsforbillsandnotes | 16,164,446.24 | |
Discountedunexpirednotesreceivable | 10,045,619.78 | 4,734,492.75 |
Total | 10,045,619.78 | 20,898,938.99 |
Explanationofothercashreceivedrelatedtofinancingactivities:
None.Othercashpaidrelatedtofinancingactivities
Unit:RMB
Items | Amountincurredinthecurrentperiod | Amountincurredinpriorperiod |
Sharerepurchasefunds | 221,263,958.01 | 63,157,541.31 |
Leasepaymentspaid | 52,565,752.20 | 33,787,128.23 |
Purchaseofminorityequity | 7,800,000.00 | |
Total | 281,629,710.21 | 96,944,669.54 |
Explanationofothercashpaidrelatedtofinancingactivities:
None.Changesinliabilitiesarisingfromfinancingactivities
□Applicable?Notapplicable
(4)Descriptiononpresentingcashflowsonanetbasis
Items | Relevantfacts | Basisfornetpresentation | Financialimpact |
Cashpaidforinvestment | Cashflowfrompurchasingandredeemingfinancialproducts | Cashinflowsandoutflowsforprojectswithfastturnover,largeamounts,andshortterms | Thenetamountislistedin"Cashflowfrominvestment",whichisRMB318,000,000.00 |
(5)MajoractivitiesandfinancialimpactsthatdonotinvolvecurrentcashreceiptsandpaymentsbutaffecttheCompany'sfinancialpositionormayaffecttheCompany'scashflowinthefutureNone.
79.Supplementaryinformationofcashflowstatement
(1)Supplementarymaterialsofcashflowstatement
Unit:RMB
Supplementaryinformation | Amountinthecurrentperiod | Amountinthepreviousperiod |
1.Adjustingnetprofittocashflowfromoperatingactivities | ||
Netprofit | 511,948,638.53 | 582,195,690.84 |
Plus:provisionforassetimpairment | 73,727,329.86 | 119,329,962.09 |
Depreciationoffixedassets,depletionofoilandgasassets,depreciationof | 172,559,699.78 | 144,630,956.80 |
productivebiologicalassets | ||
Depreciationofright-of-useassets | 44,961,252.63 | 31,615,539.58 |
Amortizationofintangibleassets | 103,132,673.05 | 86,884,445.54 |
Amortizationoflong-termdeferredexpenses | 52,087,562.28 | 35,618,497.97 |
Lossfromdisposaloffixedassets,intangibleassetsandotherlong-termassets(incomemarkedwith"-") | 1,483,081.27 | 1,612,652.02 |
Lossesonscrappingoffixedassets(incomemarkedwith"-") | 9,967,980.43 | 1,532,801.47 |
Lossfromchangesinfairvalue(incomemarkedwith"-") | -12,535,503.26 | -87,818,625.99 |
Financialexpenses(incomemarkedwith"-") | 6,073,896.85 | -3,114,719.50 |
Investmentincome(incomemarkedwith"-") | 11,234,586.49 | -564,908.47 |
Decreaseindeferredtaxassets(increasemarkedwith"-") | -24,180,744.09 | -48,206,297.70 |
Increaseindeferredtaxliabilities(decreasemarkedwith"-") | 5,194,327.64 | 35,552,253.54 |
Decreaseininventory(increasemarkedwith"-") | 270,031,968.61 | 130,052,908.43 |
Decreaseinoperatingreceivables(increasemarkedwith"-") | -172,697,744.27 | -623,114,911.86 |
Increaseinoperatingpayables(decreasemarkedwith"-") | 324,892,024.61 | -51,504,228.19 |
Others | 88,067,468.77 | 136,353,059.76 |
Netcashflowfromoperatingactivities | 1,465,948,499.18 | 491,055,076.33 |
2.Majorinvestmentandfinancingactivitiesnotinvolvingcashreceiptsandpayments | ||
Conversionofdebtintocapital | ||
Convertiblebondsduewithinoneyear | ||
Fixedassetsacquiredunderfinanceleases | ||
3.Netchangeincashandcashequivalents: | ||
Endingbalanceofcash | 1,494,743,705.76 | 1,374,281,693.23 |
Minus:beginningbalanceofcash | 1,374,281,693.23 | 1,736,104,958.20 |
Plus:endingbalanceofcashequivalents | ||
Minus:beginningbalanceofcashequivalents | ||
Netincreaseincashandcashequivalents | 120,462,012.53 | -361,823,264.97 |
(2)Netcashpaidforobtainingsubsidiariesincurrentperiod
□Applicable?Notapplicable
(3)Netcashreceivedfordisposalofsubsidiariesincurrentperiod
□Applicable?Notapplicable
(4)Compositionofcashandcashequivalents
Unit:RMB
Items | Endingbalance | Beginningbalance |
I.Cash | 1,494,743,705.76 | 1,374,281,693.23 |
Including:cashinstock | 1,069,045.22 | 606,436.16 |
Bankdepositavailableforpaymentatanytime | 1,333,111,676.06 | 1,207,740,732.40 |
Othermonetarycapitalforpaymentatanytime | 160,562,984.48 | 165,934,524.67 |
III.Balanceofcashandcashequivalentsattheendoftheperiod | 1,494,743,705.76 | 1,374,281,693.23 |
(5)Circumstanceswherethescopeofuseislimitedbutstillincludedinthelistofcashandcashequivalents
□Applicable?Notapplicable
(6)Monetaryfundsotherthancashandcashequivalents
Unit:RMB
Items | Amountinthecurrentperiod | Amountinthepreviousperiod | Reasonsfornotbeingcashandcashequivalents |
Bankdeposit | 19,498,565.37 | 2,477,737.39 | Financialproducts,judicialfreezing,etc.duringthesubscriptionperiod |
Othermonetarycapital | 36,208,618.69 | 26,266,640.72 | Securitydeposit,interestaccruedbutnotreceivedattheendoftheperiod |
Total | 55,707,184.06 | 28,744,378.11 |
(7)Descriptionofothermajoractivities
None.
80.Notestoitemsinchangestatementofowner'sequity
Describethenamesandadjustedamountsof"other"itemsthatadjustedtheclosingbalanceofthepreviousyear:None.
81.Foreigncurrencymonetaryitems
(1)Foreigncurrencymonetaryitems
Unit:RMB
Items | Foreigncurrencybalanceattheendoftheperiod | Exchangerateforconversion | BalanceconvertedintoRMBattheendoftheperiod |
Monetarycapital | 641,419,708.38 | ||
Including:USdollars | 72,802,991.87 | 7.0829 | 515,654,054.22 |
Euros | |||
HongKongdollars | 1,691,738.73 | 0.9062 | 1,533,087.47 |
VietnameseDong | 70,773,258,160.00 | 0.0003 | 20,665,791.38 |
Euros | 1,490,630.26 | 7.8592 | 11,715,192.64 |
IndianRupee | 1,016,225,423.83 | 0.0851 | 86,527,529.94 |
RomanianLeu | 1,047,475.43 | 1.5826 | 1,657,700.05 |
MexicanPeso | 1,308,820.72 | 0.4181 | 547,280.77 |
JapaneseYen | 61,528,230.00 | 0.0502 | 3,089,517.01 |
Rand | 1,182.08 | 0.3819 | 451.47 |
CanadianDollar | 5,422.36 | 5.3673 | 29,103.43 |
Accountsreceivable | 1,284,511,083.48 | ||
Including:USdollars | 160,816,368.62 | 7.0681 | 1,136,667,300.76 |
Euros | 432,380.06 | 7.8592 | 3,398,161.37 |
HongKongdollars | 3,864.32 | 0.9062 | 3,501.92 |
JapaneseYen | 19,799,148.00 | 0.0502 | 994,174.62 |
IndianRupee | 1,428,158,223.94 | 0.0851 | 121,601,960.14 |
VietnameseDong | 73,096,150,476.00 | 0.0003 | 21,344,075.94 |
RomanianLeu | 317,148.49 | 1.5826 | 501,908.73 |
Financingofaccountsreceivable | 115,550,064.84 | ||
Including:USdollars | 16,314,409.03 | 7.0827 | 115,550,064.84 |
Otherreceivables | 17,230,390.50 | ||
Including:RomanianLeu | 1,464,575.19 | 1.5826 | 2,317,788.36 |
USdollars | 546,580.16 | 7.0764 | 3,867,833.51 |
MexicanPeso | 1,769,313.90 | 0.4180 | 739,601.52 |
Euros | 8,485.83 | 7.8592 | 66,691.84 |
JapaneseYen | 2,837,099.00 | 0.0502 | 142,459.25 |
IndianRupee | 16,593,130.11 | 0.0851 | 1,412,838.66 |
VietnameseDong | 29,736,908,765.00 | 0.0003 | 8,683,177.36 |
Accountspayable | 73,538,086.10 | ||
Including:USdollars | 7,060,979.50 | 7.0827 | 50,010,820.69 |
Euros | 1,436.40 | 7.8726 | 11,308.25 |
MexicanPeso | 60,314.51 | 0.4181 | 25,220.33 |
JapaneseYen | 32,647,724.00 | 0.0502 | 1,639,340.17 |
IndianRupee | 157,713,679.83 | 0.0851 | 13,428,688.98 |
VietnameseDong | 28,844,889,326.00 | 0.0003 | 8,422,707.68 |
Otheraccountpayable | 15,715,490.56 | ||
Including:Rand | 2,615.08 | 0.4550 | 1,189.73 |
RomanianLeu | 2,481,848.57 | 1.5826 | 3,927,691.65 |
USdollars | 268,312.23 | 6.0710 | 1,628,917.91 |
MexicanPeso | 1,856,646.77 | 0.4181 | 776,353.13 |
Euros | 264,518.00 | 7.8469 | 2,075,634.66 |
IndianRupee | 10,099,169.33 | 0.0851 | 859,913.97 |
VietnameseDong | 22,074,621,616.00 | 0.0003 | 6,445,789.51 |
Otherdescriptions:None.
(2)Explanationofoverseasbusinessentities,includingforimportantoverseasbusinessentities,disclosureofmainoverseasbusinesslocations,recordingcurrencyandselectionbasisaswellasdisclosureofreasonsforchangesinrecordingcurrency.
?Applicable□Notapplicable
1.TopbandIndiaPrivateLimited,asubsidiaryoftheCompany,ismainlylocatedinPuneCity,Maharashtra,India,withIndianRupeeastherecordingcurrency;
2.Topband(Vietnam)Co.,Ltd.,asub-subsidiaryoftheCompany,ismainlylocatedinBinhDuong,Vietnam,withVietnameseDongastherecordingcurrency;
3.TOPBANDSMARTDONGNAI(VIETNAM)Co.,Ltd.,asub-subsidiaryoftheCompany,ismainlylocatedinDongNai,Vietnam,withVietnameseDongastherecordingcurrency;
4.TopbandGermanyGmbH,asub-subsidiaryoftheCompany,ismainlylocatedinUnterf?hring,Germany,withEuroastherecordingcurrency;
5.TOPBANDJAPANCo.,Ltd.,asub-subsidiaryoftheCompany,ismainlylocatedinNagoya,Japan,withJapaneseYenastherecordingcurrency;
6.Q.B.PTE.LTD,asub-subsidiaryoftheCompany,islocatedinSingapore,withSingaporedollarasthebookkeepingbasecurrency;
7.TOPBANDSMARTEUROPECOMPANYLIMITEDS.RL.,asub-subsidiaryoftheCompany,islocatedinTimisoara,Romania,withLeuastherecordingcurrency;
8.TOPBANDMEXICO,S.DER.L.DEC.V,thesub-subsidiaryoftheCompany,islocatedinMonterrey,Mexico,withpesoastherecordingcurrency.
82.Lease
(1)TheCompanyastheLessee
?Applicable□Notapplicable
Variableleasepaymentsnotincludedinthemeasurementoftheleaseliability
□Applicable?Notapplicable
Rentalexpensesofsimplifiedshort-termleasesorlow-valueassets
?Applicable□Notapplicable
Theshort-termrentalexpensesofRMB16,112,923.71includedinthecostofrelatedassetsorthe
simplifiedcurrentprofitandlossthisyear.
Situationsinvolvingsaleandleasebacktransactions:None.
(2)TheCompanyastheLessor
Operatingleaseaslessor?Applicable□Notapplicable
Unit:RMB
Items | Rentalrevenue | Including:revenuerelatedtovariableleasepaymentsnotincludedinleasecollectionamount |
Rentalrevenue | 23,506,064.47 | |
Total | 23,506,064.47 |
Financeleaseaslessor
□Applicable?NotapplicableUndiscountedleasecollectionamountforeachofthenextfiveyears.
□Applicable?NotapplicableReconciliationstatementofundiscountedleasecollectionamounttonetinvestmentinleases:None.
(3)Recognitionoffinanceleasesalesgainsandlossesasamanufacturerordistributor
□Applicable?Notapplicable
VIII.R&Dexpenditure
Unit:RMB
Items | Amountincurredinthecurrentperiod | Amountincurredinpriorperiod |
Employeecompensation | 527,263,890.90 | 439,350,510.57 |
Depreciationandamortization | 115,822,616.82 | 94,521,158.35 |
Materialexpenses | 55,454,167.38 | 43,071,054.75 |
Equityincentiveexpenses | 34,765,522.02 | 56,384,583.55 |
Moldfee | 21,905,175.37 | 23,257,757.38 |
Intermediaryserviceexpenses | 14,203,295.26 | 11,669,481.90 |
Low-valueconsumables | 9,723,117.58 | 6,593,448.78 |
Testingexpense | 11,494,607.23 | 7,666,376.50 |
Decorationcosts | 4,472,201.29 | 5,348,308.20 |
Rentandutilities | 11,029,383.78 | 11,474,297.29 |
Travelexpenses | 8,479,596.38 | 4,445,768.88 |
Others | 19,792,769.70 | 15,879,462.57 |
Total | 834,406,343.71 | 719,662,208.72 |
Including:expensedR&Dexpenditure | 689,969,610.98 | 592,346,136.09 |
CapitalizedR&Dexpenditures | 144,436,732.73 | 127,316,072.63 |
1.R&Dprojectsthatmeetcapitalizationconditions
Unit:RMB
Items | Beginningbalance | Increaseinthecurrentperiod | Decreaseamountinthecurrentperiod | Endingbalance | ||||
Internaldevelopmentexpenditure | Others | Recognizedasintangibleassets | Transferredtocurrentprofitandloss | |||||
Intelligentcontrollerproject | 70,263,773.15 | 91,923,909.20 | 74,231,560.90 | 87,956,121.45 | ||||
Motorandcontrolsystemproject | 17,993,758.94 | 11,793,460.67 | 24,271,089.03 | 5,516,130.58 | ||||
Lithiumbatteryproject | 12,689,781.05 | 40,719,362.86 | 12,689,781.05 | 40,719,362.86 | ||||
Total | 100,947,313.14 | 144,436,732.73 | 111,192,430.98 | 134,191,614.89 |
SignificantcapitalizedR&Dprojects
□Applicable?Notapplicable
Developmentexpenditureprovisionforimpairment
□Applicable?Notapplicable
2.Importantoutsourcedprojectsunderdevelopment
□Applicable?Notapplicable
IX.Changesinthescopeofconsolidation
1.Consolidationunderdifferentcontrol
(1)Businessmergerundercommoncontrolduringtheperiod
□Applicable?Notapplicable
(2)Mergercostsandgoodwill
□Applicable?Notapplicable
(3)Theacquiree'sidentifiableassetsandliabilitiesontheacquisitiondate
□Applicable?Notapplicable
(4)GainsorlossesarisingfromtheremeasurementofequityinterestsheldbeforetheacquisitiondatetofairvalueArethereanytransactionsthatachievebusinessmergersinstepsthroughmultipletransactionsandobtaincontrolduringtheReportingPeriod?
□Yes?No
(5)DescriptionontheinabilitytoreasonablydeterminethemergerconsiderationorthefairvalueoftheidentifiableassetsandliabilitiesoftheacquireeattheacquisitiondateorattheendofthemergerperiodNotapplicable.
(6)OtherdescriptionsNotapplicable.
2.Consolidationunderthesamecontrol
(1)Mergerofcompaniesundercommoncontrolduringthecurrentperiod
□Applicable?Notapplicable
(3)Bookvalueofthemergedparty'sassetsandliabilitiesonthemergerdate
□Applicable?Notapplicable
3.Reversepurchase
Basicinformationofthetransaction,thebasisforthereversepurchaseofthetransaction,whethertheassetsandliabilitiesretainedbythelistedcompanyconstitutethebusinessanditsbasis,thedeterminationoftheconsolidationcost,theamountoftheadjustmentoftheequitywhenthetransactionisprocessedasanequitytransactionanditscalculation:notapplicable.
4.Disposalofsubsidiaries
Whetherthereareanytransactionsoreventsinthisperiodinwhichthecontrolofthesubsidiaryislost
□Yes?No
Whethertherearestep-by-stepdisposaloftheinvestmentinasubsidiarythroughmultipletransactionsandlossofcontrolinthecurrentperiod
□Yes?No
5.ChangesinthescopeofconsolidationduetootherreasonsExplanationsforthechangesinthescopeoftheconsolidationcausedbyotherreasons(e.g.,establishmentofnewsubsidiaries,orliquidationofsubsidiaries,etc.)andrelevantcircumstances:
1.Newsubsidiaries(sub-subsidiaries)DuringtheReportingPeriod,theCompanyestablished3newsubsidiaries(sub-subsidiaries),thedetailsofwhichareasfollows:
No. | Nameofsubsidiary | Registeredplace | Registrationdate | Proportionofshareholding | |
Direct | Indirect | ||||
1 | YolanessTechnology(HK)Co.,Limited | HongKong,China | 2023/7/4 | 100% | |
2 | HuizhouJiuwanLvyuanAgricultureCo.,Ltd. | Huizhou,Guangdong | 2023/7/24 | 100% | |
3 | YOLANESSAFRICA(PTY)LTD | SouthAfrica | 2023/8/10 | 100% |
2.DuringtheReportingPeriod,theCompanyliquidated1subsidiary(sub-subsidiary),thedetailsofwhichareasfollows:
No. | Nameofsubsidiary | Registeredplace | Liquidationdate | Proportionofpreviousshareholding | |
Direct | Indirect | ||||
1 | Topband(Vietnam)Co.,ltd | Vietnam | 2023/10/23 | 100% |
X.Interestsinotherentities
1.Equitiesinsubsidiaries
(1)Compositionofenterprisegroup
Unit:RMB
Nameofsubsidiary | Registeredcapital | Principalplaceofbusiness | Registeredplace | Natureofbusiness | Proportionofshareholding | Acquisitionmethod | |
Direct | Indirect | ||||||
ShenzhenTopbandSoftwareTechnologyCo.,Ltd. | 1,000,000.00 | Shenzhen | Shenzhen | Productionandsales | 100.00% | Establishment | |
ShenzhenTopbandAutomationTechnologyCo.,Ltd. | 35,000,000.00 | Shenzhen | Shenzhen | Productionandsales | 100.00% | Establishment | |
ShenzhenTopbandBatteryCo.,Ltd. | 50,000,000.00 | Shenzhen | Shenzhen | Productionandsales | 100.00% | Establishment | |
ChongqingTopbandIndustrialCo.,Ltd. | 50,000,000.00 | Chongqing | Chongqing | Productionandsales | 100.00% | Establishment | |
Topband(HongKong)Co.,Ltd. | HKD155million | HongKong | HongKong | Investment | 100.00% | Establishment | |
HuizhouTopbandElectricalTechnologyCo.,Ltd. | 300,000,000.00 | Huizhou | Huizhou | Productionandsales | 100.00% | Establishment |
TOPBANDINDIAPRIVATELIMITED | INR1.96billion | India | India | Productionandsales | 100.00% | Establishment | |
ShenzhenYAKOAutomationTechnologyCo.,Ltd. | 60,000,000.00 | Shenzhen | Shenzhen | Productionandsales | 71.54% | Consolidationunderdifferentcontrol | |
ShenzhenAlliedControlSystemCo.,Ltd. | 55,999,998.00 | Shenzhen | Shenzhen | Productionandsales | 100.00% | Consolidationunderdifferentcontrol | |
HuizhouTopbandBatteryCo.,Ltd. | 50,000,000.00 | Huizhou | Huizhou | Productionandsales | 100.00% | Establishment | |
NingboTopbandIntelligentControlCo.,Ltd. | 300,000,000.00 | Ningbo | Ningbo | Productionandsales | 100.00% | Establishment | |
ShenzhenMeanstoneIntelligentTechnologyCo.,Ltd. | 7,600,000.00 | Shenzhen | Shenzhen | Productionandsales | 77.25% | Consolidationunderdifferentcontrol | |
ShenzhenYanshengSoftwareCo.,Ltd. | 1,500,000.00 | Shenzhen | Shenzhen | Productionandsales | 71.54% | Consolidationunderdifferentcontrol | |
HangzhouZhidongMotorTechnologyCo.,Ltd. | 1,500,000.00 | Hangzhou | Hangzhou | Productionandsales | 53.66% | Consolidationunderdifferentcontrol | |
Topband(Vietnam)Co.,ltd | USD12.5million | Vietnam | Vietnam | Productionandsales | 100.00% | Establishment | |
TOPBANDSMARTDONGNAI(VIETNAM)COMPANYLIMITED | USD33.5million | Vietnam | Vietnam | Productionandsales | 100.00% | Establishment | |
TopbandGermanyGmbH | EUR25,000 | Germany | Germany | Sales | 100.00% | Establishment | |
TOPBANDJAPANCo.,Ltd | JPY30million | Japan | Japan | Sales | 100.00% | Establishment | |
ShenzhenTopbandSupplyChainServicesCo.,Ltd. | 5,000,000.00 | Shenzhen | Shenzhen | Sales | 100.00% | Establishment | |
ShenzhenTopbandInvestmentCo.,Ltd. | 50,000,000.00 | Shenzhen | Shenzhen | Sales | 100.00% | Establishment | |
ShenzhenSparkIOTTechnologyCo.,Ltd. | 10,000,000.00 | Shenzhen | Shenzhen | Sales | 100.00% | Establishment | |
ShenzhenTunnuInnovationCo.,Ltd. | 10,000,000.00 | Shenzhen | Shenzhen | Sales | 100.00% | Establishment | |
ShenzhenSenxuanTechnologyCo.,Ltd. | 10,000,000.00 | Shenzhen | Shenzhen | Sales | 100.00% | Establishment | |
Topband(Qingdao)IntelligentControlCo.,Ltd. | 10,000,000.00 | Qingdao | Qingdao | Productionandsales | 100.00% | Establishment | |
ShenzhenTengyiIndustrialCo.,Ltd. | 1,000,000.00 | Shenzhen | Shenzhen | Sales | 100.00% | Establishment | |
TaixingNinghuiLithiumBatteryCo.,Ltd. | 105,000,000.00 | Taixing | Taixing | Productionandsales | 100.00% | Consolidationunderdifferentcontrol | |
ShenzhenTopbandAutomotiveElectronicsCo.,Ltd. | 10,000,000.00 | Shenzhen | Shenzhen | Sales | 100.00% | Establishment | |
Q.B.PTE.LTD | SGD10,000 | Singapore | Singapore | Sales | 100.00% | Establishment | |
TOPBANDMEXICO,S.DER.L.DEC.V. | MXN20million | Mexico | Mexico | Productionandsales | 100.00% | Establishment | |
TunnuInnovation(HongKong)Limited | 10,000,000.00 | HongKong | HongKong | Sales | 100.00% | Establishment | |
TOPBANDSMARTEUROPECOMPANYLIMITEDS.R.L. | ROL20.1816million | Romania | Romania | Sales | 100.00% | Establishment | |
HuizhouYAKOAutomationTechnologyCo.,Ltd. | 50,000,000.00 | Shenzhen | Shenzhen | Productionandsales | 71.54% | Establishment | |
ShenzhenZhongliConsultingCo.,Ltd. | 2,000,000.00 | Shenzhen | Qingdao | Sales | 100.00% | Establishment |
TUNNUINNOVATION,INC | USD10,000 | USA | USA | Sales | 100.00% | Establishment | |
NantongTopbandYounengTechnologyCo.,Ltd. | 100,000,000.00 | Nantong | Nantong | Productionandsales | 100.00% | Establishment | |
ShenzhenTopbandMotorCo.,Ltd. | 10,000,000.00 | Shenzhen | Shenzhen | Productionandsales | 100.00% | Establishment | |
ShenzhenYueshangRobotCo.,Ltd. | 10,000,000.00 | Shenzhen | Shenzhen | Productionandsales | 100.00% | Establishment | |
ShenzhenJingfeiInvestmentCo.,Ltd. | 10,000,000.00 | Shenzhen | Shenzhen | Sales | 100.00% | Establishment | |
HuizhouChidingTechnologyCo.,Ltd. | 5,000,000.00 | Huizhou | Huizhou | Productionandsales | 100.00% | Establishment | |
YolanessTechnology(HK)Co.,Limited | USD500,000 | HongKong | HongKong | Sales | 100.00% | Establishment | |
HuizhouJiuwanLvyuanAgricultureCo.,Ltd. | 5,000,000.00 | Huizhou | Huizhou | Productionandsales | 100.00% | Establishment | |
YOLANESSAFRICA(PTY)LTD | SouthAfrica | SouthAfrica | Sales | 100.00% | Establishment |
Explanationoftheshareholdingratiointhesubsidiarybeingdifferentfromthevotingrightsratio:None.Basisforholdinghalforlessofthevotingrightsbutstillcontrollingtheinvestee,andholdingmorethanhalfofthevotingrightsbutnotcontrollingtheinvestee:
None.Forimportantstructuredentitiesincludedintheconsolidationscope,thebasisforcontrol:None.Basisfordeterminingwhetheracompanyisanagentoraprincipal:None.Otherdescriptions:None.
(2)Importantnon-wholly-ownedsubsidiaries
Unit:RMB
Nameofsubsidiary | Shareholdingratioofminorityshareholders | Profitsandlossesattributabletominorityshareholdersduringthecurrentperiod | Dividendsdeclaredanddistributedtominorityshareholdersduringthecurrentperiod | Endingbalanceofminorityshareholders'equity |
ShenzhenYAKOAutomationTechnologyCo.,Ltd. | 28.46% | -2,359,678.17 | 83,893,186.88 |
Explanationoftheshareholdingratioofminorityshareholderinsubsidiaryshareholderbeingdifferentfromthevotingrightsratio:None.Otherdescriptions:None.
(3)Majorfinancialinformationofimportantnon-wholly-ownedsubsidiaries
Unit:RMB
Nameofsubsidiary | Endingbalance | Beginningbalance | ||||||||||
Currentassets | Non-currentassets | Totalassets | Currentliabilities | Non-currentliabilities | Totalliabilities | Currentassets | Non-currentassets | Totalassets | Currentliabilities | Non-currentliabilities | Totalliabilities | |
ShenzhenYAKOAutomationTechnologyCo.,Ltd. | 222,174,685.26 | 301,231,220.59 | 523,405,905.85 | 133,458,199.07 | 95,089,231.86 | 228,547,430.93 | 242,689,924.08 | 138,192,840.18 | 380,882,764.26 | 79,730,092.08 | 6,353,732.52 | 86,083,824.60 |
Unit:RMB
Nameofsubsidiary | Amountincurredinthecurrentperiod | Amountincurredinpriorperiod | ||||||
Operatingincome | Netprofit | Totalcomprehensiveincome | Cashflowfromoperatingactivities | Operatingincome | Netprofit | Totalcomprehensiveincome | Cashflowfromoperatingactivities | |
ShenzhenYAKOAutomationTechnologyCo.,Ltd. | 250,599,704.63 | -8,717,818.68 | -8,717,818.68 | -15,977,430.98 | 248,511,066.02 | 954,217.01 | 954,217.01 | 22,473,846.35 |
Otherdescriptions:None.
(4)SignificantrestrictionsontheuseofenterprisegroupassetsandtheliquidationofenterprisegroupdebtsNone.
(5)FinancialsupportorothersupportprovidedtostructuredentitiesincludedinthescopeoftheconsolidatedfinancialstatementsNone.
2.Transactionscausingtheowner'sequitysharechangebutstillcontrollingthesubsidiary
(1)Changesintheowner'sequityinsubsidiariesNone.
(2)Impactofthetransactiononminorityshareholders'equityandowner'sequityattributabletotheparentcompany
□Applicable?Notapplicable
3.Interestsinjointventurearrangementsorassociatedenterprises
(1)Importantjointventuresorassociatedenterprises
□Applicable?Notapplicable
(2)Majorfinancialinformationofimportantjointventures
□Applicable?Notapplicable
(3)Majorfinancialinformationofimportantassociatedenterprises
□Applicable?Notapplicable
(4)Summarizedfinancialinformationofunimportantjointventuresandassociatedenterprises
Unit:RMB
Endingbalance/amountincurredincurrentperiod | Beginningbalance/amountincurredinthepreviousperiod | |
Jointventure: | ||
Totalbookvalueofinvestment | 37,748,179.30 | 23,550,658.91 |
Sumofthefollowingitemscalculatedaccordingtotheshareholdingratio | ||
Associatedenterprises: |
Sumofthefollowingitemscalculatedaccordingtotheshareholdingratio | ||
--Netprofit | 1,126,356.29 | -2,568,468.91 |
--Totalcomprehensiveincome | 1,126,356.29 | -2,568,468.91 |
(5)StatementthatthereisamateriallimitationontheabilityofthejointventureorassociatedenterprisetotransferfundstotheCompanyNone.
(6)ExcesslossesincurredbythejointventuresorassociatedenterprisesNone.
(7)Unconfirmedcommitmentsrelatedtotheinvestmentofjointventures
None.
(8)Contingentliabilitiesrelatedtotheinvestmentofjointventuresorassociatedenterprises
None.
4.Importantjointoperation
□Applicable?Notapplicable
5.Rightsandinterestsinstructuredentitiesnotincludedinthescopeoftheconsolidatedfinancialstatements
Relevantexplanationsofstructuredentitiesnotincludedinthescopeoftheconsolidatedfinancialstatements:None.
6.Others
None.
XI.Governmentsubsidies
1.GovernmentgrantsrecognizedasreceivableattheendoftheReportingPeriod
□Applicable?Notapplicable
Reasonsfornotreceivingtheexpectedamountofgovernmentsubsidiesattheexpectedtime
□Applicable?Notapplicable
2.Liabilitiesinvolvinggovernmentsubsidies?Applicable□Notapplicable
Unit:RMB
Accountingitems | Beginningbalance | Newlyincreasedsubsidyinthecurrentperiod | Amountaccountedintonon-operatingincomeinthecurrentperiod | Amountincludedinotherincomeinthecurrentperiod | Otherchangesinthisperiod | Endingbalance | Asset-related/revenue-related |
Deferredincome | 13,370,250.14 | 2,761,100.00 | 4,985,057.72 | 11,146,292.42 | Asset-related |
3.Governmentsubsidiesincludedinthecurrentprofitsandlosses
?Applicable□Notapplicable
Unit:RMB
Accountingitems | Amountincurredinthecurrentperiod | Amountincurredinpriorperiod |
Otherincome | 32,905,181.89 | 33,217,045.91 |
Otherdescriptions:
None.
XII.Risksassociatedwithfinancialinstruments
1.RisksarisingfromfinancialinstrumentsThemainfinancialinstrumentsoftheCompanyincludeequityinvestment,debtinvestment,borrowings,accountsreceivable,accountspayable,etc.Fordetailsofeachfinancialinstrument,pleaserefertotherelevantitemsinNoteVI.TherisksassociatedwiththesefinancialinstrumentsandtheriskmanagementpoliciesadoptedbytheCompanytomitigatetheserisksaredescribedbelow.Inordertoensurealltheaboveriskstobecontrolledwithinalimitedscope,themanagementoftheCompanyhascontrolledandsupervisedtheriskexposure.
Sensitivityanalysistechniqueisusedforanalyzingreasonablenessofriskvariableandpossibleimpactsfromitsvariationoncurrentprofitsandlossesorshareholders'equity.Sinceanyriskvariablerarelychangesinisolation,andthecorrelationbetweenthevariableswillhaveasignificanteffectonthefinalamountaffectedbyachangeinariskvariable,thefollowingcontentsarebasedontheassumptionthatchangesineachvariablearemadeinisolation.ThemainrisksarisingfromtheCompany'sfinancialinstrumentsincludethemarketrisk,
creditrisk,andliquidityrisk.(I)Classificationoffinancialinstruments
1.Bookvalueoffinancialassetsonthebalancesheetdate
(1)December31,2023
Financialassets | Financialassetsmeasuredatamortizedcost | Financialassetsmeasuredatfairvalueandwhosechangesarerecordedincurrentprofitorloss | Financialassetsmeasuredatfairvaluewithchangesincludedintheothercomprehensiveincome | Total |
Monetarycapital | 1,550,450,889.82 | - | - | 1,550,450,889.82 |
Tradablefinancialassets | 656,704,087.16 | 656,704,087.16 | ||
Notesreceivable | 54,198,392.53 | 54,198,392.53 | ||
Accountsreceivable | 2,431,773,877.56 | 2,431,773,877.56 | ||
Financingofaccountsreceivable | 278,520,642.22 | 278,520,642.22 | ||
Otherreceivables | 36,524,343.36 | 36,524,343.36 | ||
Otherequityinstrumentinvestments | 41,192,950.00 | 41,192,950.00 |
(2)December31,2022
Financialassets | Financialassetsmeasuredatamortizedcost | Financialassetsmeasuredatfairvalueandwhosechangesarerecordedincurrentprofitorloss | Financialassetsmeasuredatfairvaluewithchangesincludedintheothercomprehensiveincome | Total |
Monetarycapital | 1,403,026,071.34 | 1,403,026,071.34 | ||
Tradablefinancialassets | 342,959,450.31 | 342,959,450.31 | ||
Notesreceivable | 51,791,758.90 | 51,791,758.90 | ||
Accountsreceivable | 2,549,734,039.66 | 2,549,734,039.66 | ||
Financingofaccountsreceivable | 254,988,202.60 | 254,988,202.60 | ||
Otherreceivables | 77,743,150.98 | 77,743,150.98 |
2.Bookvalueoffinancialliabilitiesonthebalancesheetdate
(1)December31,2023
Financialliabilities | Financialliabilitiesmeasuredatfairvaluewithchangesincludedinthecurrentprofitsandlosses | Otherfinancialliabilities | Total |
Short-termloans | 279,348,750.00 | 279,348,750.00 | |
Notespayable | 927,833,178.70 | 927,833,178.70 | |
Accountspayable | 1,957,626,396.34 | 1,957,626,396.34 | |
Otheraccountpayable | 151,341,029.40 | 151,341,029.40 | |
Non-currentliabilitiesduewithinoneyear | 370,623,598.03 | 370,623,598.03 |
Financialliabilities | Financialliabilitiesmeasuredatfairvaluewithchangesincludedinthecurrentprofitsandlosses | Otherfinancialliabilities | Total |
Long-termloans | 437,747,877.47 | 437,747,877.47 | |
Leaseliabilities | 61,429,811.03 | 61,429,811.03 |
(2)December31,2022
Financialliabilities | Financialliabilitiesmeasuredatfairvaluewithchangesincludedinthecurrentprofitsandlosses | Otherfinancialliabilities | Total |
Short-termloans | 283,351,495.57 | 283,351,495.57 | |
Notespayable | 1,065,652,340.80 | 1,065,652,340.80 | |
Accountspayable | 1,606,446,204.02 | 1,606,446,204.02 | |
Otheraccountpayable | 335,047,520.52 | 335,047,520.52 | |
Non-currentliabilitiesduewithinoneyear | 75,356,303.72 | 75,356,303.72 | |
Long-termloans | 581,500,000.00 | 581,500,000.00 | |
Leaseliabilities | 73,610,791.09 | 73,610,791.09 |
(II)RiskmanagementobjectiveandpolicyTheCompany'sriskmanagementobjectiveistostrikeanappropriatebalancebetweenrisksandreturns,reducethenegativeimpactofrisksontheCompany'sbusinessperformancetothelowestlevel,andmaximizetheinterestsofshareholdersandotherequityinvestors.Basedonthisriskmanagementobjective,thebasicriskmanagementstrategyoftheCompanyistodetermineandanalyzevariousrisksfacedbyit,establishanappropriateriskbearingbottomlineandcarryoutriskmanagement,andconducttimelyandreliablesupervisionofvariousriskstocontrolriskswithinthelimitedscope.
1.Marketrisk
(1)ForeignexchangeriskForeignexchangeriskreferstotheriskoflossduetoexchangeratefluctuations.TheCompany'sexposuretoforeignexchangerisksismainlyrelatedtoUSdollarsandHongKongdollars.ExceptfortheCompanyanditssubsidiary,Topband(HK)Co.,Limited,whichpurchasesandsellssomematerialsandproductsinUSdollars,EurosandHongKongdollars,TOPBANDINDIAPRIVATELIMITED,thesubsidiary,usesIndianRupee,Topband(Vietnam)Co.,Ltd.andTOPBANDSMARTDONGNAI(VIETNAM)Co.,Ltd.,thesub-subsidiaries,useVietnameseDong,andTopbandGermanyGmbH,thesub-subsidiary,usesEuros;TOPBANDJAPANCo.,Ltd.,thesub-subsidiary,usesJapaneseYen,Q.B.PTE.LTD,thesub-subsidiary,usesSingaporedollars,andTOPBANDMEXICO,S.DER.L.DEC.V.,thesub-subsidiary,usesMexicanPeso;TOPBANDSMART
EUROPECOMPANYLIMITEDS.R.L.,thesub-subsidiary,usesRomanianLeu,TunnuInnovationHKLimited,thesub-subsidiary,usesHongKongdollars,andTUNNUINNOVATION,INC.,thesub-subsidiary,usesUSdollars;othermajorbusinessactivitiesoftheCompanyaresettledinRMB.AsofDecember31,2023,theassetsandliabilitiesoftheCompanyareRMBbalances,exceptthattheassetsorliabilitiesstatedinVI.(LIX)foreigncurrencymonetaryitemsareUSdollars,HongKongdollars,Euros,VietnameseDong,JapaneseYen,IndianRupee,RomanianLeuandMexicanPesobalances,RandandCanadiandollars.TheforeignexchangerisksarisingfromtheassetsandliabilitiesofsuchforeigncurrencybalancesmayhaveanimpactontheCompany'soperatingresults.
TheCompanypayscloseattentiontotheimpactofexchangeratefluctuationsontheCompany'sforeignexchangerisks.TheCompanycurrentlytakesnomeasurestoavoidforeignexchangerisks.
(2)Otherpricerisks
InvestmentsheldbytheCompanyandclassifiedastradablefinancialassetsaremeasuredatfairvalueonthebalancesheetdate.Therefore,theCompanyisexposedtotheriskofchangesinthesecuritiesmarket.
2.Creditrisk
OnDecember31,2023,themaximumcreditriskexposurecausingtheCompany'sfinanciallossesismainlyincurredfromtheotherparty'sfailuretofulfillobligations,whichleadstheCompanytofinancialassetlosses,andfinancialguaranteeundertakenbytheCompany,includingconfirmedcarryingamountsoffinancialassetsinconsolidatedbalancesheets;thecarryingvalueonlyreflectsriskexposureoffinancialinstrumentsmeasuredatfairvalueratherthanthemaximumriskexposure,thatvarieswiththefairvalueinthefuture.
Inordertoreducecreditrisks,theCompanyhassetupspecialpositionsresponsiblefordeterminingcreditlimits,conductingcreditapproval,andimplementingothermonitoringprocedurestoensurethatnecessarymeasuresaretakentorecoveroverdueclaims.Inaddition,theCompanyreviewstherecoveryofeachindividualreceivableoneachbalancesheetdatetoensurethatadequateprovisionismadeforuncollectibleamounts.Asaresult,themanagementoftheCompanybelievesthatthecreditriskassumedbytheCompanyhasbeensignificantlyreduced.
TheCompany'sworkingcapitalisdepositedinabankwithahighcreditrating,sothecreditriskofworkingcapitalislow.
TheCompanyhasadoptednecessarypoliciestoensurethatallsalescustomershavegoodcreditrecords.TheCompanyhasnoothermajorcreditconcentrationrisk.
3.LiquidityriskWhenmanagingliquidityrisk,theCompanymaintainssufficientcashandcashequivalentsasdeemedbythemanagementandmonitorsthemtomeettheCompany'soperationalneedsandreducetheimpactofcashflowfluctuations.ThemanagementoftheCompanymonitorstheuseofbankloansandensurescompliancewithloanagreements.
(III)TransferoffinancialassetsTherewerenoeventsrelatedtothetransferoffinancialassetsintheCompanythisyear.(IV)OffsettingbetweenfinancialassetsandfinancialliabilitiesTherewerenoeventsrelatedtotheoffsettingbetweenfinancialassetsandfinancialliabilitiesintheCompanythisyear.
2.Hedging
(1)TheCompanyconductshedgingbusinessforriskmanagement
□Applicable?Notapplicable
(2)TheCompanyconductsqualifiedhedgingbusinessandapplieshedgingaccountingOtherdescriptionsNone.
(3)TheCompanyconductshedgingbusinessforriskmanagementandexpectstoachievetheriskmanagementobjectives,butdoesnotapplyhedgingaccounting
□Applicable?Notapplicable
3.Financialassets
(1)Classificationoftransfermethods
□Applicable?Notapplicable
(2)Derecognizedfinancialassetsduetotransfer
□Applicable?Notapplicable
(3)Financialassetsinwhichassettransfercontinues
□Applicable?Notapplicable
OtherdescriptionsNone.
XIII.Disclosureoffairvalue
1.Endingfairvalueofassetsandliabilitiesmeasuredatfairvalue
Unit:RMB
Items | Endingfairvalue | |||
Thefirstleveloffairvaluemeasurement | Thesecond-levelfairvaluemeasurement | Thethirdleveloffairvaluemeasurement | Total | |
I.Continuousfairvaluemeasurement | -- | -- | -- | -- |
(I)Tradablefinancialassets | 656,704,087.16 | 656,704,087.16 | ||
1.Financialassetatfairvalueandchangesthroughcurrentprofitsandlosses | 656,704,087.16 | 656,704,087.16 | ||
(1)Debtinstrumentinvestment | 304,370,000.00 | 304,370,000.00 | ||
(2)Equityinstrumentinvestment | 352,334,087.16 | 352,334,087.16 | ||
(II)Receivablesfinancing | 278,520,642.22 | 278,520,642.22 | ||
(1)Bankacceptancebill | 126,350,412.69 | 126,350,412.69 | ||
(2)Factoredaccountsreceivable | 111,968,012.71 | 111,968,012.71 | ||
(3)Supplychainnotesreceivable | 40,202,216.82 | 40,202,216.82 | ||
Totalassetscontinuouslymeasuredatfairvalue | 935,224,729.38 | 935,224,729.38 | ||
II.Non-continuousfairvaluemeasurement | -- | -- | -- | -- |
2.Thebasisfordeterminingthemarketpriceofcontinuousandnon-continuousfirst-levelfairvaluemeasurementitemsNone.
3.Continuousandnon-continuoussecond-levelfairvaluemeasurementitems,valuationtechniquesadoptedandqualitativeandquantitativeinformationofimportantparametersNone.
4.Continuousandnon-continuousthird-levelfairvaluemeasurementitems,valuationtechniquesadoptedandqualitativeandquantitativeinformationofimportantparametersNone.
5.Continuousthird-levelfairvaluemeasurementitems,adjustmentinformationbetweenbeginningandendingbookvalueandsensitivityanalysisofunobservableparametersNone.
6.Forcontinuousfairvaluemeasurementitems,iftheconversionoccursamongdifferentlevelsinthecurrentperiod,thereasonsfortheconversionandthepoliciesfordeterminingtheconversiontimepoint
None.
7.Technicalchangesinvaluationduringthecurrentperiodandthereasonsforsuchchanges
None.
8.Fairvalueoffinancialassetsandfinancialliabilitiesnotmeasuredatfairvalue
None.
9.Others
None.
XIV.Relatedpartiesandrelatedtransactions
1.ProfileofparentcompanyoftheCompany
Nameofparentcompany | Registeredplace | Natureofbusiness | Registeredcapital | ShareholdingratioofparentcompanytotheCompany | Proportionoftheparentcompany'svotingrightsintheEnterprise |
WuYongqiang | Shenzhen | 16.73% | 16.73% |
ProfileofparentcompanyoftheCompanyNone.TheultimatecontrolleroftheCompanyisWuYongqiang.
2.ProfileofsubsidiariesoftheCompanyFordetailsofthesubsidiariesoftheCompany,pleaseseeNoteX.1.
3.InformationonthejointventuresandassociatedenterprisesoftheCompanySeetheNoteX.3onkeyjointventuresorassociatedenterprisesoftheCompany.Otherjointventuresorassociatedenterpriseshavingrelated-partytransactionincurrentperiodorinpreviousperiodtoformbalancearelistedasfollows:
Nameofjointventureorassociatedenterprise | RelationshipwiththeCompany |
DongguanJujinPlasticTechnologyCo.,Ltd. | ShareholdingcompaniesoftheCompany |
4.Otherrelatedparties
Namesofotherrelatedparties | RelationshipbetweenotherrelatedpartiesandtheEnterprise |
ShenzhenJizhiguangElectronicsCo.,Ltd. | AcompanysubstantiallycontrolledbytherelativeoftheCompany'slegalrepresentative |
ShenzhenLianghuiTechnologyCo.,Ltd. | ShareholdingcompaniesoftheCompany |
ShenzhenORVIBOTechnologyCo.,Ltd. | ShareholdingcompaniesoftheCompany |
ShenzhenHANSCIntelligentTechnologyCo.,Ltd. | ShareholdingcompaniesoftheCompany |
GuangdongZhongchuangZhijiaScientificResearchCo.,Ltd. | ShareholdingcompaniesoftheCompany |
GuangdongHuixinSemiconductorCo.,Ltd. | ShareholdingcompaniesoftheCompany |
FujianMiniDolphinNewEnergyTechnologyCo.,Ltd. | ShareholdingcompaniesoftheCompany |
ChengduSenweiTechnologyCo.,Ltd. | ShareholdingcompaniesoftheCompany |
ShenzhenYoubiTechnologyCo.,Ltd. | ShareholdingcompaniesoftheCompany |
ShanghaiYidongPowerTechnologyCo.,Ltd. | ShareholdingcompaniesoftheCompany |
PasElectronicTechnology(Nanjing)Co.,Ltd. | CompaniesinwhichtheCompanyhaspreviouslyheldshares(soldinJune2023) |
JiangsuDonghaiSemiconductorCo.,Ltd. | ShareholdingcompaniesoftheCompany |
JiangxiSaruiMicroelectronicsTechnologyCo.,Ltd. | ShareholdingcompaniesoftheCompany |
ShanghaiXingganSemiconductorCo.,Ltd. | ShareholdingcompaniesoftheCompany |
ShenzhenJizhiLaserTechnologyCo.,Ltd. | ShareholdingcompaniesoftheCompany |
DongguanJujinPlasticTechnologyCo.,Ltd. | ShareholdingcompaniesoftheCompany |
5.Relatedpartytransaction
(1)RelatedtransactionsinvolvingthepurchaseandsaleofgoodsandtheprovisionandacceptanceofservicesListofgoodspurchased/servicesreceived
Unit:RMB
Relatedparty | Relatedtransactioncontent | Amountincurredinthecurrentperiod | Approvedtransactionlimit | Isthetransactionlimitexceeded | Amountincurredinpriorperiod |
ShenzhenJizhiguangElectronicsCo.,Ltd. | Purchaseofrawmaterials | 12,448,395.74 | 25,000,000.00 | No | 16,943,886.18 |
ShenzhenORVIBOTechnologyCo.,Ltd. | Purchaseofrawmaterials | 5,534.37 | No | 28,062.77 | |
JiangsuDonghaiSemiconductorCo.,Ltd. | Purchaseofrawmaterials | 95,491.50 | No | 38,775.00 | |
JiangxiSaruiMicroelectronicsTechnologyCo.,Ltd. | Purchaseofrawmaterials | 87.00 | No | ||
DongguanJujinPlasticTechnologyCo.,Ltd. | Purchaseofrawmaterials | 17,192,446.68 | No |
Listofgoodssold/servicesprovided
Unit:RMB
Relatedparty | Relatedtransactioncontent | Amountincurredinthecurrentperiod | Amountincurredinpriorperiod |
ShenzhenORVIBOTechnologyCo.,Ltd. | Goodsonhand | 12,408,176.66 | 23,106,968.00 |
Relatedtransactionsinvolvingthepurchaseandsaleofgoodsandtheprovisionandacceptanceofservices
None.
(2)Relevantentrustedmanagement/contractingandentrustedmanagement/outsourcing
□Applicable?Notapplicable
(3)Relatedlease
□Applicable?Notapplicable
(4)Relatedpartyguaranteesituation
□Applicable?Notapplicable
(5)Interbanklendingofrelatedparties
□Applicable?Notapplicable
(6)Assettransferanddebtrestructuringofrelatedparties
□Applicable?Notapplicable
(7)Remunerationofkeymanagementpersonnel
Unit:RMB
Items | Amountincurredinthecurrentperiod | Amountincurredinpriorperiod |
Remunerationofkeymanagementpersonnel | 14,263,600.00 | 12,635,800.00 |
(8)Otherrelatedtransactions
None.
6.Receivablesandpayablesduetorelatedparties
(1)Itemreceivable
Unit:RMB
Projectname | Relatedparty | Endingbalance | Beginningbalance | ||
Bookbalance | Provisionforbaddebts | Bookbalance | Provisionforbaddebts | ||
Accountsreceivable | ShenzhenORVIBOTechnologyCo.,Ltd. | 3,747,603.20 | 116,175.70 | 6,487,666.99 | 201,117.68 |
Accounts | FujianMiniDolphinNewEnergyTechnology | 1,753,420.02 | 158,509.17 |
receivable | Co.,Ltd. | |
Prepayments | ShenzhenORVIBOTechnologyCo.,Ltd. | 3,037.05 |
(2)Payables
Unit:RMB
Projectname | Relatedparty | Bookbalanceattheendoftheperiod | Bookbalanceatthebeginningoftheperiod |
Accountspayable | ShenzhenJizhiguangElectronicsCo.,Ltd. | 866,888.49 | 1,411,710.91 |
Accountspayable | JiangsuDonghaiSemiconductorCo.,Ltd. | 51,217.50 | 43,708.50 |
Accountspayable | GuangdongHuixinSemiconductorCo.,Ltd. | 311.50 | |
Accountspayable | JiangxiSaruiMicroelectronicsTechnologyCo.,Ltd. | 100,087.00 | |
Accountspayable | DongguanJujinPlasticTechnologyCo.,Ltd. | 8,514,044.84 | |
Notespayable | ShenzhenJizhiguangElectronicsCo.,Ltd. | 110,000.00 | |
Contractualliabilities | GuangdongZhongchuangZhijiaScientificResearchCo.,Ltd. | 132,075.47 | |
Otheraccountpayable | DongguanJujinPlasticTechnologyCo.,Ltd. | 39,000.00 |
7.Commitmentofrelatedparties
None.
8.Others
None.XV.Share-basedpayment
1.Generalsituationofshare-basedpayments?Applicable□Notapplicable
Unit:RMB
Grantobjectcategory | Grantedinthecurrentperiod | Exercisedinthecurrentperiod | Releasedinthecurrentperiod | Invalidatedinthecurrentperiod | ||||
Number | Amount | Number | Amount | Number | Amount | Number | Amount | |
2021RestrictedStockIncentivePlan | 9,351,936.00 | 67,614,497.28 | 22,700,384.00 | 164,123,776.32 | ||||
Total | 9,351,936.00 | 67,614,497.28 | 22,700,384.00 | 164,123,776.32 |
Stockoptionsorotherequityinstrumentsoutstandingattheendoftheperiod
□Applicable?NotapplicableOtherdescriptions:
None.
2.Equity-settledshare-basedpayments?Applicable□Notapplicable
Unit:RMB
Methodfordeterminingthefairvalueoftheequityinstrumentonthegrantdate | Fairvalueofequityinstruments=(marketpriceongrantdate-grantprice)*numberofshares |
Importantparametersoffairvalueofequityinstrumentsonthegrantdate | Stockmarketpriceongrantdate |
Basisfordeterminingthenumberofexercisableequityinstruments | Estimationshallbebasedonthelatestavailablechangesonvestingemployeenumberandothersubsequentinformation. |
Reasonsforthesignificantdifferencebetweentheestimatesofthecurrentperiodandthatofthepreviousperiod | Terminatingtheimplementationofthe2021RestrictedStockIncentivePlanbytheCompany |
Accumulatedamountofequity-settledshare-basedpaymentsincludedincapitalreserves | 152,886,906.12 |
Totalamountofexpensesrecognizedbyequity-settledshare-basedpaymentsinthecurrentperiod | 79,290,114.83 |
Otherdescriptions:
None.
3.Cash-settledshare-basedpayments
□Applicable?Notapplicable
4.Share-basedpaymentforthecurrentperiod?Applicable□Notapplicable
Unit:RMB
Grantobjectcategory | Equity-settledshare-basedpayment | Cash-settledshare-basedpayment |
2021RestrictedStockIncentivePlan | 79,290,114.83 | 0.00 |
Total | 79,290,114.83 | 0.00 |
Otherdescriptions:
InDecember2023,theCompanyterminatedtheimplementationofthe2021RestrictedStockIncentivePlan,andhasacceleratedtherecognitionofshare-basedpaymentexpensesthatwouldhavebeenrecognizedduringtheremainingwaitingperiod.
5.Modificationandterminationofshare-basedpayments
OnDecember1,2023,the4th(Extraordinary)Meetingofthe8thBoardofDirectorsoftheCompanydeliberatedandpassedtheProposalonTerminatingtheImplementationoftheRestrictedStockIncentivePlanfor2021andRepurchasingandCancellingRestrictedStocks.InviewofthefactthatthecurrenteconomicsituationandinternalandexternalenvironmenthavechangedsignificantlycomparedtowhentheCompany'sequityincentiveplanwasannounced,thecontinuedimplementationofthe2021RestrictedStockIncentivePlanisdifficulttoachievetheexpectedincentivepurposesandeffects.TheCompanythendecidedtoterminatethe
implementationofthisincentiveplanandrepurchaseandcanceltherestrictedstocksthathavebeengrantedbuthavenotyetbeenreleasedfromtherestrictiononsale.Withtheterminationoftheimplementationofthisincentiveplan,theCompanyrepurchasedandcancelled20,496,224restrictedsharesthathadbeengrantedbutnotyetreleasedfromtherestrictionsonsaleto1,024incentivetargets.AccordingtotherelevantprovisionsoftheAccountingStandardsforBusinessEnterprises,fortherepurchaseandcancellationofshare-basedpaymentscorrespondingtotheterminationoftheincentiveplanandtherelatedreleaseperiod,theaccruedshare-basedpaymentexpensesarenotreversed,andtheshare-basedpaymentexpensesthatshallhavebeenrecognizedwithintheremainingwaitingperiodarerecognizedatanacceleratedrate.
6.Others
None.XVI.Commitmentsandcontingencies
1.ImportantcommitmentsImportantcommitmentsthatexistedonthebalancesheetdate
AsofDecember31,2023,theCompanyhasnocommitmentsthatneedtobedisclosed.
2.Contingencies
(1)Significantcontingenciesonthebalancesheetdate
(2)TheimportantcontingenciesnotrequiredtobedisclosedshallbeexplainedaswellNosignificationcontingenciesneedtobedisclosedbytheCompany.
3.Others
None.XVII.Eventsafterthebalancesheetdate
1.Importantnon-adjustingmatters
□Applicable?Notapplicable
2.Profitdistribution
3.Salesreturn
None.
4.ExplanationofothereventsafterthebalancesheetdateNone.XVIII.Otherimportantmatters
1.Correctionofearlyaccountingerrors
(1)Retrospectiverestatement
□Applicable?Notapplicable
(2)Futureapplication
□Applicable?Notapplicable
2.Debtrestructuring
None.
3.Assetreplacement
(1)Exchangeofnon-monetaryassets
(2)Replacementofotherassets
4.AnnuityplanNone.
5.Discontinuedoperation
□Applicable?Notapplicable
6.Divisioninformation
(1)Basisfordeterminingreportablesegmentsandaccountingpolicies
None.
(2)Financialinformationofreportablesegments
□Applicable?Notapplicable
(3)Ifacompanydoesnothaveareportablesegment,orcannotdisclosethetotalassetsandliabilitiesofeachreportablesegment,itshallexplainthereason.None.
(4)Otherdescriptions
None.
7.Otherimportanttransactionsandmattersthathaveanimpactoninvestors'decisionsNone.
8.Others
None.
XIX.Notestomainitemsoffinancialstatementsoftheparentcompany
1.Accountsreceivable
(1)Disclosurebyaging
Unit:RMB
Aging | Bookbalanceattheendoftheperiod | Bookbalanceatthebeginningoftheperiod |
Within1year(including1year) | 1,287,212,115.69 | 1,781,879,318.05 |
1-2years | 5,268,760.84 | 5,015,015.44 |
2-3years | 791,447.31 | 1,465,220.68 |
Above3years | 2,078,206.45 | 1,991,907.84 |
3-4years | 97,063.40 | 659,343.12 |
4-5years | 648,578.33 | 1,332,564.72 |
Above5years | 1,332,564.72 | |
Total | 1,295,350,530.29 | 1,790,351,462.01 |
(2)Disclosurebybaddebtprovisionmethod
Unit:RMB
Category | Endingbalance | Beginningbalance | ||||||||
Bookbalance | Provisionforbaddebts | Bookvalue | Bookbalance | Provisionforbaddebts | Bookvalue | |||||
Amount | Proportion | Amount | Proportionofprovision | Amount | Proportion | Amount | Proportionofprovision | |||
Accountsreceivablewithsingleprovisionforbaddebts | 120,945,555.34 | 9.34% | 2,994,574.69 | 2.48% | 117,950,980.65 | 450,165,784.04 | 25.14% | 450,165,784.04 | ||
Including: | ||||||||||
Accountsreceivablewithasinglesignificantamountandsinglebaddebtprovision | 119,881,794.96 | 9.26% | 1,930,814.31 | 1.61% | 117,950,980.65 | 449,954,452.01 | 25.13% | 449,954,452.01 | ||
Accountsreceivablewithinsignificantsingleamountbutseparatebaddebtprovision | 1,063,760.38 | 0.08% | 1,063,760.38 | 100.00% | 0.00 | 211,332.03 | 0.01% | 211,332.03 | ||
Accountsreceivablewithprovisionforbaddebtsbyportfolio | 1,174,404,974.95 | 90.66% | 36,854,741.91 | 3.14% | 1,137,550,233.04 | 1,340,185,677.97 | 74.86% | 43,496,510.19 | 3.25% | 1,296,689,167.78 |
Including: | ||||||||||
Accountsreceivablewithprovisionforbaddebtsbycombination(aginganalysismethod) | 1,174,404,975.00 | 90.66% | 36,854,741.91 | 3.14% | 1,137,550,233.04 | 1,340,185,677.97 | 74.86% | 43,496,510.19 | 3.25% | 1,296,689,167.78 |
Total | 1,295,350,530.29 | 100.00% | 39,849,316.60 | 3.08% | 1,255,501,213.69 | 1,790,351,462.01 | 100.00% | 43,496,510.19 | 2.43% | 1,746,854,951.82 |
Singleprovisionforbaddebts:2,994,574.69
Unit:RMB
Name | Beginningbalance | Endingbalance | ||||
Bookbalance | Provisionforbaddebts | Bookbalance | Provisionforbaddebts | Proportionofprovision | Reasonsforprovision | |
Accountsreceivablewithasinglesignificantamountandsinglebaddebtprovision | 449,954,452.01 | 119,881,794.96 | 1,930,814.31 | 1.61% | ||
Accountsreceivablewithinsignificantsingleamountbutseparatebaddebtprovision | 211,332.03 | 1,063,760.38 | 1,063,760.38 | 100.00% | ||
Total | 450,165,784.04 | 120,945,555.34 | 2,994,574.69 |
Provisionforbaddebtsbyportfolio:
Unit:RMB
Name | Endingbalance | ||
Bookbalance | Provisionforbaddebts | Proportionofprovision | |
Accountsreceivablewithprovisionforbaddebtsbycombination(aginganalysismethod) | 1,174,404,975.00 | 36,854,741.91 | 3.14% |
Total | 1,174,404,975.00 | 36,854,741.91 |
Explanationofthebasisfordeterminingtheportfolio:
None.Iftheprovisionforbaddebtsofaccountsreceivableismadeaccordingtothegeneralmodelofexpectedcreditlosses:
□Applicable?Notapplicable
(3)Baddebtprovisionwithdrawn,recoveredorreversedinthecurrentperiod
Provisionforbaddebtsinthecurrentperiod:
Unit:RMB
Category | Beginningbalance | Amountchangedinthecurrentperiod | Endingbalance | |||
Provision | Recoverorreversal | Write-off | Others | |||
Provisionforbaddebts | 43,496,510.19 | -3,643,333.74 | 3,859.85 | 39,849,316.60 | ||
Total | 43,496,510.19 | -3,643,333.74 | 3,859.85 | 39,849,316.60 |
Ofwhichtheamountofprovisionforbaddebtsrecoveredorreversedinthecurrentperiodissignificant:
□Applicable?Notapplicable
(4)Accountsreceivableactuallywrittenoffinthecurrentperiod
□Applicable?Notapplicable
(5)Accountsreceivableandcontractassetsoftopfiveendingbalancesgroupedbydebtors
Unit:RMB
Nameofunit | Endingbalanceofaccountsreceivable | Endingbalanceofcontractassets | Endingbalancesofaccountsreceivableand | Proportiontototalendingbalancesofaccountsreceivable | Endingbalanceofbaddebtprovisionforaccountsreceivableandprovision |
contractassets | andcontractassets | forimpairmentofcontractassets | |||
No.1 | 309,660,920.87 | 309,660,920.87 | 23.91% | 9,733,472.14 | |
No.2 | 79,232,145.18 | 79,232,145.18 | 6.12% | 2,456,196.50 | |
No.3 | 69,890,866.55 | 69,890,866.55 | 5.40% | ||
No.4 | 65,510,995.69 | 65,510,995.69 | 5.06% | 2,030,840.87 | |
No.5 | 62,180,414.80 | 62,180,414.80 | 4.80% | 1,927,592.86 | |
Total | 586,475,343.09 | 586,475,343.09 | 45.29% | 16,148,102.37 |
2.Otherreceivables
Unit:RMB
Items | Endingbalance | Beginningbalance |
Otherreceivables | 359,906,911.54 | 902,544,005.07 |
Total | 359,906,911.54 | 902,544,005.07 |
(1)Interestreceivable
1)Classificationofinterestreceivable
□Applicable?Notapplicable
2)Significantoverdueinterest
□Applicable?Notapplicable
3)Disclosurebybaddebtprovisionmethod
□Applicable?Notapplicable
4)Baddebtprovisionwithdrawn,recoveredorreversedinthecurrentperiod
□Applicable?Notapplicable
5)Interestsreceivableactuallywrittenoffinthecurrentperiod
□Applicable?Notapplicable
(2)Dividendsreceivable
1)Classificationofdividendsreceivable
□Applicable?Notapplicable
2)Significantdividendsreceivableagedover1year
□Applicable?Notapplicable
3)Disclosurebybaddebtprovisionmethod
□Applicable?Notapplicable
4)Baddebtprovisionwithdrawn,recoveredorreversedinthecurrentperiod
□Applicable?Notapplicable
5)Dividendsreceivableactuallywrittenoffinthecurrentperiod
□Applicable?Notapplicable
(3)Otherreceivables
1)Classificationofotherreceivablesbynatureofamount
Unit:RMB
Natureofpayment | Bookbalanceattheendoftheperiod | Bookbalanceatthebeginningoftheperiod |
Otherreceivables | 359,906,911.54 | 902,544,005.07 |
Total | 359,906,911.54 | 902,544,005.07 |
2)Disclosurebyaging
Unit:RMB
Aging | Bookbalanceattheendoftheperiod | Bookbalanceatthebeginningoftheperiod |
Within1year(including1year) | 357,493,959.23 | 899,507,615.15 |
Subtotalwithin1year(including1year) | 357,493,959.23 | 899,507,615.15 |
1-2years | 1,691,269.55 | 1,718,310.98 |
2-3years | 547,927.64 | 877,475.83 |
Above3years | 4,195,547.95 | 3,684,156.58 |
3-4years | 556,684.11 | 2,500,962.00 |
4-5years | 2,458,782.00 | 69,484.58 |
Above5years | 1,180,081.84 | 1,113,710.00 |
Total | 363,928,704.37 | 905,787,558.54 |
3)Disclosurebybaddebtprovisionmethod
Unit:RMB
Category | Endingbalance | Beginningbalance | ||||||||
Bookbalance | Provisionforbaddebts | Bookvalue | Bookbalance | Provisionforbaddebts | Bookvalue | |||||
Amount | Proportion | Amount | Proportionof | Amount | Proportion | Amount | Proportionof |
provision | provision | |||||||||
Singleprovisionforbaddebts | 352,237,197.66 | 96.79% | 352,237,197.66 | 891,733,595.91 | 98.45% | 891,733,595.91 | ||||
Provisionforbaddebtsbyportfolio | 11,691,506.71 | 3.21% | 4,021,792.83 | 34.40% | 7,669,713.88 | 14,053,962.63 | 1.55% | 3,243,553.47 | 23.08% | 10,810,409.16 |
Total | 363,928,704.37 | 100.00% | 4,021,792.83 | 1.11% | 359,906,911.54 | 905,787,558.54 | 100.00% | 3,243,553.47 | 0.36% | 902,544,005.07 |
Singleprovisionforbaddebts:0
□Applicable?Notapplicable
Provisionforbaddebtsbyportfolio:
□Applicable?Notapplicable
Explanationofthebasisfordeterminingtheportfolio:
□Applicable?NotapplicableProvisionforbaddebtsbasedonthegeneralmodelofexpectedcreditlosses:
Unit:RMB
Provisionforbaddebts | Firststage | Secondstage | Thirdstage | Total |
Expectedcreditlossinthenext12months | Expectedcreditlossfortheentireduration(nocreditimpairment) | Expectedcreditlossfortheentireduration(creditimpairmentoccurred) | ||
BalanceasofJanuary1,2023 | 3,243,553.47 | 3,243,553.47 | ||
BalanceasofJanuary1,2023inthecurrentperiod | ||||
Accrualinthecurrentperiod | 778,239.36 | 778,239.36 | ||
BalanceasofDecember31,2023 | 4,021,792.83 | 4,021,792.83 |
Basisfordivisionintodifferentstagesandbaddebtprovisionratio
□Applicable?Notapplicable
Changesinbookbalancewithsignificantchangesinlossreservesinthecurrentperiod
□Applicable?Notapplicable
4)Baddebtprovisionwithdrawn,recoveredorreversedinthecurrentperiodProvisionforbaddebtsinthecurrentperiod:
Unit:RMB
Category | Beginningbalance | Amountchangedinthecurrentperiod | Endingbalance | |||
Provision | Recoverorreversal | Reversalorwrite-off | Others | |||
Provisionforbaddebts | 3,243,553.47 | 778,239.36 | 4,021,792.83 | |||
Total | 3,243,553.47 | 778,239.36 | 4,021,792.83 |
Ofwhichtheamountofprovisionforbaddebtsrecoveredorreversedinthecurrentperiodissignificant:
□Applicable?Notapplicable
5)Otherreceivablesactuallywrittenoffinthecurrentperiod
□Applicable?Notapplicable
6)Otherreceivablesoftopfiveendingbalancesgroupedbydebtors
Unit:RMB
Nameofunit | Natureofpayment | Endingbalance | Aging | Proportiontototalendingbalancesofotherreceivables | Endingbalanceofprovisionforbaddebts |
No.1 | Transactionswithrelatedparties | 141,979,246.90 | Within1year | 39.01% | 0.00 |
No.2 | Transactionswithrelatedparties | 73,966,100.00 | Within1year | 20.32% | 0.00 |
No.3 | Transactionswithrelatedparties | 70,481,867.11 | Within1year | 19.37% | 0.00 |
No.4 | Transactionswithrelatedparties | 33,183,871.71 | Within1year | 9.12% | 0.00 |
No.5 | Transactionswithrelatedparties | 10,500,000.00 | Within1year | 2.89% | 0.00 |
Total | 330,111,085.72 | 90.71% | 0.00 |
7)Reportedinotherreceivablesduetocentralizedfundmanagement
□Applicable?Notapplicable
3.Long-termequityinvestment
Unit:RMB
Items | Endingbalance | Beginningbalance | ||||
Bookbalance | Provisionforimpairment | Bookvalue | Bookbalance | Provisionforimpairment | Bookvalue | |
Investmentinsubsidiaries | 3,981,563,889.88 | 3,981,563,889.88 | 3,952,516,773.78 | 3,952,516,773.78 | ||
Investmentinassociatedenterprisesandjointventures | 18,272,947.90 | 12,433,655.05 | 5,839,292.85 | 18,320,001.21 | 12,433,655.05 | 5,886,346.16 |
Total | 3,999,836,837.78 | 12,433,655.05 | 3,987,403,182.73 | 3,970,836,774.99 | 12,433,655.05 | 3,958,403,119.94 |
(1)Investmentinsubsidiaries
Unit:RMB
Investee | Beginningbalance(bookvalue) | Beginningbalanceofprovisionforimpairment | Changesinincreaseordecreaseinthecurrentperiod | Endingbalance(bookvalue) | Endingbalanceofprovisionforimpairment | |||
Additionalinvestment | Decreaseininvestment | Provisionforimpairment | Others | |||||
ShenzhenTopbandSoftwareTechnologyCo.,Ltd. | 24,095,074.68 | 2,055,463.18 | 26,150,537.86 | |||||
ShenzhenTopbandBatteryCo.,Ltd. | 623,157,548.45 | 5,204,768.09 | 628,362,316.54 | |||||
Shenzhen | 35,743,370.43 | 767,956.73 | 36,511,327.16 |
TopbandAutomationTechnologyCo.,Ltd. | ||||||
ChongqingTopbandIndustrialCo.,Ltd. | 211,139,884.59 | 568,427.16 | 211,708,311.75 | |||
Topband(HongKong)Co.,Ltd. | 528,408,500.00 | 528,408,500.00 | ||||
HuizhouTopbandElectricalTechnologyCo.,Ltd. | 1,024,724,989.64 | 10,555,982.28 | 1,035,280,971.92 | |||
NingboTopbandIntelligentControlCo.,Ltd. | 670,583,468.55 | 610,490.14 | 671,193,958.69 | |||
ShenzhenAlliedControlSystemCo.,Ltd. | 125,645,445.51 | 2,759,602.07 | 128,405,047.58 | |||
ShenzhenMeanstoneIntelligentTechnologyCo.,Ltd. | 10,000,000.00 | 10,000,000.00 | ||||
TOPBANDINDIAPRIVATELIMITED | 195,026,748.97 | 195,026,748.97 | ||||
ShenzhenYAKOAutomationTechnologyCo.,Ltd. | 350,014,659.96 | 350,014,659.96 | ||||
ShenzhenTopbandInvestmentCo.,Ltd. | 100,236,468.18 | 78,303.80 | 1,000,000.00 | 99,314,771.98 | ||
ShenzhenTopbandSupplyChainServicesCo.,Ltd. | 5,000,000.00 | 5,000,000.00 | ||||
ShenzhenSenxuanTechnologyCo.,Ltd. | 8,074,247.94 | -38,922.91 | 8,035,325.03 | |||
Topband(Qingdao)IntelligentControlCo.,Ltd. | 30,000,000.00 | 30,000,000.00 | ||||
ShenzhenTopbandMotorCo.,Ltd. | 10,666,366.88 | 1,485,045.56 | 12,151,412.44 | |||
HuizhouChidingTechnologyCo.,Ltd. | 5,000,000.00 | 5,000,000.00 | ||||
ShenzhenJingfeiInvestmentCo.,Ltd. | 1,000,000.00 | 1,000,000.00 | ||||
Total | 3,952,516,773.78 | 30,047,116.10 | 1,000,000.00 | 3,981,563,889.88 |
(2)Investmentinassociatedenterprisesandjointventures
Unit:RMB
Investee | Beginningbalance(bookvalue) | Beginningbalanceofprovisionforimpairment | Changesinincreaseordecreaseinthecurrentperiod | Endingbalance(bookvalue) | Endingbalanceofprovisionforimpairment | |||||||
Additionalinvestment | Decreaseininvestment | Profitsandlossesoninvestmentrecognizedunderequitymethod | Adjustmenttoothercomprehensiveincome | Otherchangesinequity | Declarationofdistributionforcashdividendsorprofits | Provisionforimpairment | Others | |||||
I.Jointventure | ||||||||||||
II.Associatedenterprises | ||||||||||||
ShenzhenDakaOptoelectronicsCo.,Ltd. | 5,886,346.16 | -47,053.31 | 5,839,292.85 | |||||||||
Tai'anYuchengxinPowerSupplyTechnologyCo.,Ltd. | 12,433,655.05 | 12,433,655.05 | ||||||||||
Subtotal | 5,886,346.16 | 12,433,655.05 | -47,053.31 | 5,839,292.85 | 12,433,655.05 | |||||||
Total | 5,886,346.16 | 12,433,655.05 | -47,053.31 | 5,839,292.85 | 12,433,655.05 |
Therecoverableamountwasdeterminedasthenetamountoffairvaluelessdisposalcosts.
□Applicable?NotapplicableTherecoverableamountwasdeterminedbasedonthepresentvalueofexpectedfuturecashflows.
□Applicable?NotapplicableReasonsforthesignificantinconsistencybetweentheabove-mentionedinformationandtheinformationusedintheimpairmenttestinpreviousyearsorexternalinformation
None.ReasonsforthesignificantinconsistencybetweentheinformationusedintheimpairmenttestoftheCompanyinpreviousyearsandtheactualsituationofthecurrentyear
None.
(3)Otherdescriptions
4.Operatingincomeandoperatingcost
Unit:RMB
Items | Amountincurredinthecurrentperiod | Amountincurredinpriorperiod | ||
Income | Cost | Income | Cost |
Mainbusiness | 4,375,490,048.36 | 3,610,380,372.83 | 5,013,119,851.86 | 4,207,791,500.54 |
Otherbusiness | 181,114,199.53 | 160,679,242.60 | 189,528,792.86 | 170,094,464.62 |
Total | 4,556,604,247.89 | 3,771,059,615.43 | 5,202,648,644.72 | 4,377,885,965.16 |
Informationrelatedtoperformanceobligations:
NoneOtherdescriptions:
None.
5.Investmentincome
Unit:RMB
Items | Amountincurredinthecurrentperiod | Amountincurredinpriorperiod |
Long-termequityinvestmentincomeaccountedbythecostmethod | -47,053.31 | -88,713.69 |
Investmentincomefromdisposaloftradingfinancialassets | -12,299,596.79 | |
Forwardforeignexchangesettlementprofitandloss | -3,529,674.98 | 2,994,236.07 |
Incomeoffinancialproducts | 2,384,294.62 | |
Interestincomereceived | 182,700.00 | |
Total | -13,309,330.46 | 2,905,522.38 |
6.Others
XX.SupplementaryInformation
1.Scheduleofcurrentnon-recurringprofitandloss?Applicable□Notapplicable
Unit:RMB
Items | Amount | Description |
Non-currentassetsdisposalprofitandloss | -11,399,766.84 | |
Governmentsubsidiesincludedincurrentprofitsandlosses(exceptthosethatarecloselyrelatedtothenormalbusinessoftheCompany,conformtonationalpoliciesandregulations,areenjoyedaccordingtocertainstandardsandhavealastingimpactontheCompany'sprofitsandlosses) | 32,905,181.89 | |
Profitsandlossesduetofairvaluechangesarisingfromthefinancialassetsandliabilitiesheldbythenon-financialbusiness,aswellastheprofitsandlossesarisingfromthedisposaloffinancialassetsandliabilities,exceptfortheeffectivehedgingbusinessrelatedtothenormalbusinessoftheCompany | -1,302,568.51 | |
One-timeshare-basedpaymentduetocancellationormodificationofthestockincentiveplan | -28,092,840.35 | |
Othernon-operatingincomeandexpensesotherthanthosementionedabove | 21,796,444.13 | |
Otherprofitsandlossesthatconformtothedefinitionofnon-recurringprofitandloss | 1,477,128.99 |
Minus:amountaffectedbyincometax | 11,184,636.52 | |
Amountaffectedbyminorityshareholders'equity(aftertax) | 604,156.43 | |
Total | 3,594,786.36 | -- |
Detailsofotheritemsofprofitsandlossesthatconformtothedefinitionofnon-recurringprofitandloss:
□Applicable?NotapplicableNone.Explanationofdefiningthenon-recurringprofitandlossitemslistedintheExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic-Non-recurringProfitandLossasrecurringprofitandlossitems
□Applicable?Notapplicable
2.Returnonequityandearningspershare
ProfitsoftheReportingPeriod | Weightedreturnonaverageequity | Earningspershare | |
Basicearningspershare(RMB/share) | Dilutedearningspershare(RMB/share) | ||
NetincomeattributabletotheordinaryshareholdersoftheCompany | 8.54% | 0.41 | 0.41 |
NetprofitattributabletotheordinaryshareholdersoftheCompanyafterdeductionofnon-recurringprofitandloss | 8.48% | 0.40 | 0.40 |
3.Differencesinaccountingdataunderdomesticandforeignaccountingstandards
(1)DifferencesinnetprofitandnetassetsbetweenfinancialreportsdisclosedinaccordancewithInternationalAccountingStandardsandthosedisclosedinaccordancewithPRCGAAPatthesametime
□Applicable?Notapplicable
(2)DifferencebetweenthenetprofitandnetassetsinthefinancialreportsdisclosedinaccordancewithbothforeignaccountingstandardsandChineseaccountingstandardsatthesametime
□Applicable?Notapplicable
(3)Reasonsfordifferencesinaccountingdataunderdomesticandforeignaccountingstandards.Ifthedataauditedbyanoverseasauditinstitutionisadjustedfordifferences,thenameoftheoverseasauditinstitutionshallbeindicated
4.Others