StockCode:603529Abbreviation:AimaTechnology
AIMATECHNOLOGYGROUPCO.,LTD.
2023AnnualReport
LettertoShareholders
DearShareholders,
Asweclosetheyear2023,wehavetogetherwitnessedanotherextraordinaryjourneyofAimaTechnology.Thisyear,theCompanyhasdemonstratedarobustdevelopmenttrendinitsbusinessoperations:theannualrevenuereached21.036billionyuan,anincreaseof1.12%year-over-year,andthenetprofitattributabletotheshareholdersofthelistedcompanyreached
1.881billionyuan,markingagrowthof0.41%year-over-year,whichpresentsstrongresilienceandstrategicfocusamidstchanges.Lookingbackat2023,theoverallbusinessgrowthoftheCompanyshowedapatternofbeinghighinitiallyandthentaperingoff.Bytheendoftheyear,theindustrybegantomovetowardsacomprehensiverecovery,andthisconsumptionstateofelectrictwo-wheelersalignedwellwiththetrendofotherdomesticconsumergoodscategoriesinChina.Beyondthelong-termpositiveoutlookforChina’seconomicdevelopmenttrends,Ibelieveitisessentialtoreachaconsensuswithallshareholdersonthefollowingthreetrends:
First,theconsumptiontrendofelectrictwo-wheelersisshowingaK-shapeddivergence,wheretheupwardstrokerepresentsproductsdevelopedbasedonconsumerdemandandusagescenarios,whichfeaturedifferentiation,high-endquality,andintelligence,enjoyinghighergrossmarginsandconsumerpreference.Thedownwardstrokerepresentsproductsofoff-the-shelf,homogenized,basicfunctionaldevelopedbymanufacturerslackingoriginalresearchcapabilities,havenotbecomemorefavoreddespitepricereductions.Thisdivergencehasqualitativelychangedtheexistingcompetitivelandscapeoftheindustry,formingtwocompetinggroups:oneamongenterpriseswithoriginalresearchandinnovationcapabilitiesandanotheramonghomogeneous,off-the-shelfenterprises.Theevolutionofcompetitionwithinthesetwogroupswilllikelyleadtoinnovativeenterprisescontinuouslyerodingthemarketshareofthefollowerenterprises.TheunderlyinglogicbehindtheK-shapeddivergenceisthatconsumersneedbetterandmoresuitableproducts.
Second,theAIGCtechnologyrevolutionrepresentedbyChatGPTisprofoundlyimpactingourlivesandworkinunprecedentedways,movingfintelligentinformationintothephysicalandbiologicalworlds.AIGCbringsmorethanjustspeechrecognition,facialrecognition,andimagerecognition;moreimportantly,ithasthecapabilitytocreateandgenerate,notonlygeneratingtexts,images,andvideosbutalsocodes,drugs,formulas,andequations.WewillsoonwitnesssignificanttechnologicalandparadigmshiftsbroughtaboutbyAIGC.Meanwhile,wewillalsoseemoreapplicationscenariosofAIGC,includingapplicationsinregulatory,social,consumer,industry,andenterprisedomains.Thisisatechnologicaltrendwecannotignore.Third,followingland,labor,capital,andtechnology,dataisemergingasthefifthmajorfactorofproduction.Fromthe“Data20Articles”fortheconstructionofbasicdatamanagementsystemstotheassetizationofdataelements,Chinahasfundamentallyestablishedthebasicframeworkfordataresourceconfirmation,valuation,utilization,circulation,andtrading,anddatawillbecomeacorestrategicresourceforenterprises.Fromtheperspectiveofoperatingperformance,theassetizationofdatawillbecomeanewgrowthpointforenterprises;fromabusinesscompetitionperspective,theuseofdataassetswillbecomeakeytowinningincorporatecompetition;fromamanagementefficiencyperspective,theeffectiveuseofdataelementswillsignificantlyenhanceproductionandoperationalefficiency;fromanR&Dinnovationperspective,therapidflowandsharingofdatawillprovideenterpriseswithopportunitiesforproductinnovation,serviceinnovation,andbusinessmodelinnovation;fromanindustrialdevelopmentperspective,leveragingdataelementstoachievedigitaltransformationwillenhanceindustrialaddedvalueandcompetitiveness,therebypromotingindustrialupgrading.Thesethreetrendswillbringtremendousimaginationtothedevelopmentandrestructuringoftheindustry,andwewillcontinuetofocusonourmainbusiness,embraceinnovation,actinaccordancewiththesituation,andrisewiththetrends.
Astheelectrictwo-wheelerindustryincreasinglybecomesaprominentpartoftheglobaltransportationsystemanddual-carbonindustrychain,theindustryfacesbothopportunitiesforcapacityexpansionandchallengesfromdemandandregulatoryaspects,suchasproductlifecyclemanagementandregulatorypolicies,thelawfulacquisitionofroadrightsforinnovativeproductcategories,andtheglobalmarketpromotionandstandardcompatibilityofproducts.Inresponse,theCompany,asaleadingindustryplayer,iswillingtoassumeindustryresponsibilities,takingtheleadoractivelyparticipatingintheestablishmentofindustrystandards,organizingindustrysocialresponsibilityseminars,andfacilitatingindustryproblem-solving.TheCompanywillunitecloselywithsuppliers,dealers,employees,andotherstakeholderstobuildaharmoniousindustryecosystemandpromotethehealthydevelopmentoftheindustry.
AimaTechnologyhasbeenadheringtolong-termismsinceitsinception,focusingononethingandexcellinginoneindustry,andwehavealwaysmaintainedaprudentandsteadyattitudeinchoosingstrategicdirections.In2023,AimaTechnologyalsohadayearofconsolidation,basedonamplein-depthresearch,westrategicallydeliberatedandassessedimportantissuesconcerningindustryanddevelopmentoftheCompany.Webelievethat,first,regardingtheindustrycapacitylimit:fromalong-termperspective,electrictwo-wheelersandthree-wheelerswillbetheidealchoiceforshortandmedium-distancetravelforresidentsbothdomesticallyandabroad,whicharethefundamentaldrivingfactorsforindustrydevelopment,andtheconceptoflow-carbontravelwillincreasinglyenhancetheindustry’sdevelopment.Thus,thereisstillroomformarketcapacityexpansionaftertheeraofreplacementpurchases.Second,consumerrationalityandhigh-endproducts:theconsumerrationalityof"canbuyexpensive,butnotoverpriced"isgraduallybecomingmainstream.Highpricesmustmatchtheproductvalueandcost-effectiveness.Currently,theindustry'shigh-endproductsaremainlymarketedwithextendedrangeastheirmainsellingpoint,whichisstillinitsinitialstages,withgreatpotentialforfuturedevelopment.Fashionable,uniquedesignandintelligentfunctionsshouldbethemaindirectionstoenhanceproductvalue.Third,AItechnologyisdevelopingataspeedsurpassinganypreviousindustry,andasitscommercializationprogresses,AIwillnotonlybecomeatoolforenterprisestoenhanceoperationalefficiencyandinnovationcapabilitiesbutwillalsoprovidemoredevelopmentopportunitiesforvariousindustries,includingthedevelopmentoftheelectrictwo-wheelerindustryecosystem.Basedonconfidenceinindustrydevelopmentandself-awareness,AimaTechnologywillstaytruetoitsoriginalaspirations,continuetofocusonitsmainbusiness,andcloselyrevolvearoundtheelectrictwo-wheelerindustryecosystem,activelyexploringnewbusinessmodelswithfourmajortransformationsasthedirectionandfocus:transitioningfromsolelysellingvehiclestoprovidingtravelsolutions,fromaleaderintravelproductstoaleaderinthetravelecosystem,fromadomesticbrandtoaninternationalbrand,andfromamanufacturing-orientedcompanytoatechnology-orientedcompany.Todate,AimaTechnologyhasanorganizationalscaleofnearlytenthousandpeople.Weareacutelyawarethatlargecompaniesarepronetoformalismandbureaucracy.Therefore,forAimaTechnologytobecomeacentury-oldenterprise,itmustmaintainorganizationalvitalityandcohesionwhileexpandingitsorganizationalscale.Tothisend,intermsofcorporateculture,weuseastrongsenseofcrisisanddeterminationforexcellencetostimulateself-drive,continuouslypromotingself-awarenessupgradingandtransformation,andadoptinganopenandknowledge-seekingattitudetoactivelyembracenewtrends,newconcepts,andnewtechnologies.Intermsofbusinessmanagement,weoptimizeprocessesanddriveinnovationthroughdigitalreengineering,makingtheCompanya"dancingelephant"thatcansensitivelyandefficientlyperceiveandrespondtochangesinexternalsituationsandmarketdemands.Intermsoftalentcohesion,weadheretothephilosophyof"showingrespectforourstaff,improvingtheircompetenceandmakingthemhappy”,viewingtheCompanyasacarrierforemployeestorealizetheirlifevalue,makingeveryefforttoprovideeachemployeewithdecentremuneration,apleasantandharmoniousworkenvironment,andcleargrowthopportunities.Atthesametime,employeesareenabledtosharethefruitsoftheCompany'sdevelopmentthroughequityincentives,firmlywalkingthepathtocommonprosperity.In2023,focusingonlong-termcapacitybuilding,weconductedaseriesoforganizationalreforms,processoptimizations,andcadreadjustmentmechanismsaroundproductlifecyclemanagement,whichfurtherenhancedorganizationalefficiencyandthecomprehensiveoperationalefficiencyof
"fromuserdemandinsighttouserdemandsatisfaction”.Meanwhile,theCompanylaunchedanequityincentiveprogram,covering324coreemployees,furtherimprovingtheCompany'smediumandlong-termincentivesystemCreatinglong-termvalueforshareholdersisourunwaveringcommitment,justas"UsersFirst"hasbeenourvaluepropositionforover20years.Torepayourshareholders,basedontheCompany's2023operatingperformanceandoverallfinancialcondition,fullyconsideringtheCompany'sfuturedevelopmentandreasonablereturnsforshareholders,theBoardofDirectorsproposesaprofitdistributionplanfor2023:basedonthetotalsharecapitalregisteredasoftherecorddateforthedistributionofequity,minusthesharesheldintherepurchasespecialsecuritiesaccount,itisproposedtodistributeacashdividendof5.34yuan(includingtax)per10sharestoallshareholdersoftheCompany.ThismatterisstillsubjecttoapprovalbytheCompany's2023annualgeneralmeetingofshareholders.Wefeelgratefulfortheconstantcompany,supportandtrustfromourshareholders,customers,suppliersandallwalksoflife!Andwelookforwardtocontinuingtogohandinhandwithallshareholders.Optimistswinthefuture,pessimistswinthemoment;andwepossessbothanoptimisticattitudeandapessimisticoutlook.
ChairmanoftheBoard:
April15,2024
ImportantNotice
I.TheBoardofDirectors,theBoardofSupervisors,thedirectors,thesupervisorsandseniormanagementoftheCompanywarrantthattherearenofalserepresentationsormisleadingstatementscontainedin,ormaterialomissionsfromthisreport;andjointlyandseverallyacceptfullresponsibilityforthetruthfulness,accuracyandcompletenessoftheinformationcontainedinthisreport.II.AllmembersoftheBoardofDirectorsattendedtheBoardMeeting.III.Ernst&YoungHuaMingLLP(SpecialGeneralPartnership)hasissuedanunqualifiedstandardauditreportfortheCompany.IV.ThepersoninchargeoftheCompany,ZhangJian,thepersonresponsibleforaccountingwork,ZhengHui,andtheheadoftheaccountinginstitution(accountingsupervisor),ZhengHui,declare:theyguaranteethetruthfulness,accuracy,andcompletenessofthefinancialreportintheannualreport.V.TheBoardofDirectors'resolutionontheprofitdistributionproposalforthisreportingperiodortheproposalforcapitalizationofcapitalreserve.AuditedbyErnst&YoungHuaMingLLP(specialgeneralpartnership),thenetprofitattributabletoshareholdersofthelistedcompanyfor2023was1,881,115,782.35yuan,andtheparentcompany'snetprofitwas1,774,577,731.31yuan.AsofDecember31,2023,theaccumulatedprofitsdistributabletoshareholdersoftheparentcompanyamountedto2,727,682,959.95yuan.Fortheyear2023,itisproposedtodistributeprofitsbasedonthetotalsharecapitalrecordedontheequitydistributionrecorddate,deductingsharesintherepurchasespecialsecuritiesaccount.Theprofitdistributionplanistodistributeacashdividendof5.34yuan(taxincluded)per10sharestoallshareholders.AsofDecember31,2023,thetotalsharecapitaloftheCompanyis861,925,007shares;deducting14,130,524sharesintheCompany'srepurchasespecialsecuritiesaccount,thebaseforcalculationis847,794,483shares,resultinginatotalproposedcashdividenddistributionof452,722,253.92yuan(taxincluded).Theratioofcashdividendsforthisyear(includingthecashdividendof299,949,780.29yuandistributedinthemid-yearof2023)is40.01%.Ifthereisachangeinthetotalsharecapitalorthenumberofsharesintherepurchasespecialsecuritiesaccountduetoconvertiblebondsconvertingintoshares,sharerepurchases,grantingrestrictedsharesunderstockincentiveplans,cancellationofsharesunderstockincentives,orcancellationofsharesforsignificantassetrestructuring,theCompanyplanstomaintainthesameper-sharedistributionratio,adjustingthetotaldistributionamountaccordingly.VI.Riskstatementconcerningforward-lookingstatements
√Applicable?NotapplicableIfthereareforward-lookingdescriptionssuchasfutureplansanddevelopmentstrategiesinthisreport,theydonotconstitutesubstantivecommitmentstoinvestorsbytheCompany.Investorsshouldmaintainadequateriskawarenessandshouldunderstandthedifferencesbetweenplans,forecasts,andcommitments,payingattentiontoinvestmentrisks.VII.Whetherthereisnon-operationalfundoccupationbythecontrollingshareholderandotherrelatedpartiesNoVIII.Whetherthereisanysituationofprovidingexternalguaranteesinviolationofdecision-makingproceduresNo
IX.Whetheroverhalfofboardmemberscannotguaranteethetruthfulness,accuracyandcompletenessoftheannualreportdeclaredbytheCompanyNoX.SignificantriskwarningsDuringthereportingperiod,therewerenosignificantrisksthatmateriallyimpactedthecompany'sproductionandoperations.TheCompanyhasdetailedthepotentialrisksthatmaybefacedintheproductionandoperationprocessinthisreport.Forspecificcontent,pleaserefertoSection3VI.(IV)PossibleRisksofthereport.XI.Others?Applicable√Notapplicable
TableofContents
Section1Definition ...... 9
Section2CompanyProfileandKeyFinancialIndexes ...... 13
Section3DiscussionandAnalysisoftheManagement ...... 18
Section4CorporateGovernance ...... 62
Section5EnvironmentalandSocialResponsibilities ...... 82
Section6SignificantEvents ...... 87
Section7ChangesinSharesandInformationaboutShareholders ...... 111
Section8PreferredShares ...... 120
Section9Bond-relatedInformation ...... 121
Section10Financialreport ...... 124
| DocumentsAvailableforReference | (I)FulltextandAbstractoftheCompany’sAnnualReportsignedbythelegalrepresentativeoftheCompanyandstampedbytheCompany; |
| (II)Financialstatementssignedbythelegalrepresentative,theFinancialController,andtheheadoftheaccountingdepartment(accountingsupervisor)andstampedbytheCompany; | |
| (III)TheoriginalsofalltheCompany’sdocumentsandannouncementsdisclosedonnewspapersdesignedbyChinaSecuritiesRegulatoryCommissionduringthereportingperiod. |
Section1Definition
I.DefinitionInthisreport,unlessotherwisestatedinthecontext,thefollowingtermshavethefollowingmeanings:
| AimaTechnology/Aima/Company/theCompany/theGroup | refersto | AimaTechnologyGroupCo.,LTD. |
| YanchengDingai | refersto | YanchengDingaiVentureCapitalPartnership(LimitedPartnership) |
| GuangdongVehicle | refersto | GuangdongAimaVehicleTechnologyCo.,Ltd,awhollyownedsubsidiaryofAimaTechnology |
| JiangsuVehicle | refersto | JiangsuAimaVehicleTechnologyCo.,Ltd,awhollyownedsubsidiaryofAimaTechnology |
| TianjinVehicle | refersto | TianjinAimaVehicleTechnologyCo.,Ltd.,awhollyownedsubsidiaryofAimaTechnology |
| ZhejiangVehicle | refersto | ZhejiangAimaVehicleTechnologyCo.,Ltd.,awhollyownedsubsidiaryofAimaTechnology |
| HenanVehicle | refersto | HenanAimaVehicleCo.,Ltd.,awhollyownedsubsidiaryofAimaTechnology |
| TianjinSports | refersto | TianjinAimaSportsGoodsCo.,Ltd.,awhollyownedsubsidiaryofAimaTechnology |
| GuangxiVehicle | refersto | GuangxiAimaVehicleCo.,Ltd.,awhollyownedsubsidiaryofAimaTechnology |
| Suiwanwan | refersto | TianjinSuiwanwanCulturalCommunicationCo.,Ltd.,awhollyownedsubsidiaryofAimaTechnology |
| XiaopaElectric | refersto | XiaopaElectricTechnology(Shanghai)Co.,Ltd.,awhollyownedsubsidiaryofAimaTechnology |
| Spozman | refersto | TianjinAimaSharedTechnologyServicesCo.,Ltd.,awhollyownedsubsidiaryofAimaTechnology,Renamedas"TianjinSpozmanTechnologyCo.,Ltd”. |
| XiaomaNetwork | refersto | ChongqingXiaomaNetworkTechnologyCo.,Ltd.,awhollyownedsubsidiaryofAimaTechnology |
| TianjinTianli | refersto | TianjinTianliElectricBicycleCo.,Ltd.,awhollyownedsubsidiaryofAimaTechnology |
| AimaChongqing | refersto | AimaTechnology(Chongqing)Co.,Ltd.,awhollyownedsubsidiaryofAimaTechnology |
| ChongqingVehicle | refersto | ChongqingAimaVehicleTechnologyCo.,Ltd.,awhollyownedsubsidiaryofAimaTechnology |
| ZhejiangSales | refersto | AimaTechnology(Zhejiang)Co.,Ltd.,awhollyownedsubsidiaryofAimaTechnology |
| TaizhouManufacture | refers | TaizhouAimaVehicleManufactureCo.,Ltd.,awholly |
| to | ownedsubsidiaryofAimaTechnology | |
| AimaTaizhou | refersto | AimaTechnology(Taizhou)Co.,Ltd.,awhollyownedsubsidiaryofAimaTechnology |
| AimaVentureCapital | refersto | AimaGrowthVentureCapital(Ningbo)Co.,Ltd.,awhollyownedsubsidiaryofAimaTechnology |
| LishuiVehicle | refersto | LishuiAimaVehicleTechnologyCo.,Ltd.,awhollyownedsubsidiaryofAimaTechnology |
| SuotengTechnology | refersto | SuotengTechnologyHongKongCo.,Ltd.,awhollyownedsubsidiaryofAimaTechnology |
| GelingNewEnergy | refersto | GelingNewEnergyTechnology(Shandong)Co.,Ltd.,acontrolledsubsidiaryofAimaTechnology |
| Aiska | refersto | ZhejiangAiskaTechnologyCo.,Ltd.,acontrolledsubsidiaryofAimaTechnology |
| XiaomaIntelligent | refersto | ChongqingXiaomaIntelligentTechnologyCo.,Ltd.,awhollyownedsubsidiaryofAimaTechnology |
| TianjinXiaoma | refersto | TianjinXiaomaIntelligentTechnologyCo.,Ltd.,awhollyownedsubsidiaryofAimaTechnology |
| GuangxiXiaoma | refersto | GuangxiXiaomaIntelligentTechnologyCo.,Ltd.,acontrolledsubsidiaryofAimaTechnology |
| WanningXiaoma | refersto | WanningXiaomaIntelligentTechnologyCo.,Ltd.,awhollyownedsubsidiaryofAimaTechnology |
| TaizhouXiaoma | refersto | TaizhouXiaomaIntelligentTechnologyCo.,Ltd.,awhollyownedsubsidiaryofAimaTechnology |
| YangjiangXiaoma | refersto | YangjiangXiaomaIntelligentTechnologyCo.,Ltd.,awhollyownedsubsidiaryofAimaTechnology |
| ChongqingElectromechanical | refersto | ChongqingAimaElectromechanicalTechnologyCo.,Ltd.,asubsidiaryofAimaTechnology |
| AimaVehicleService | refersto | ChongqingAimaVehicleServiceTechnologyCo.,Ltd.,awhollyownedsubsidiaryofAimaTechnology |
| TianjinElectromechanical | refersto | TianjinAimaElectromechanicalTechnologyCo.,Ltd.,awholly-ownedsubsidiaryofAimaTechnology”. |
| SuperUniverse | refersto | SuperUniverse(Chongqing)VehicleIndustryTechnologyCo.,Ltd.,awhollyownedsubsidiaryofAimaTechnology |
| AimaLianxiang | refersto | TianjinAimaLianxiangTechnologyCo.,Ltd.,acontrolledsubsidiaryofAimaTechnology |
| AimaShengsituo | refersto | TianjinAimaShengsituoTechnologyCo.,Ltd.,acontrolledsubsidiaryofAimaTechnology |
| SingaporeAima | refersto | AimaTechnologySingaporePte.ltd.,awhollyownedsubsidiaryofAimaTechnology |
| VietnamAima | refersto | PowellddTechnologyCompanyLimited,awhollyownedsubsidiaryofAimaTechnology |
| IndonesiaAima | refers | PtAimaElectricVehiclesIndonesia,awhollyowned |
| to | subsidiaryofAimaTechnology | |
| AimaLogistics | refersto | ChongqingAimaZhilianLogisticsCo.,Ltd.,acontrolledsubsidiaryofAimaTechnology |
| AimaElectricDrive | refersto | AimaElectricDriveSystemsCo.,Ltd.,awhollyownedsubsidiaryofAimaTechnology |
| AimaNanfang | refersto | AimaNanfangCo.,Ltd.,awhollyownedsubsidiaryofAimaTechnology |
| TianjinJiema | refersto | TianjinJiemaElectricTechnologyCo.,Ltd.,acompanyinwhichAimaTechnologyholdsshares |
| TodaySunshine | refersto | ZhejiangTodaySunshineNewEnergyVehicleCo.,Ltd.,acompanyinwhichAimaTechnologyholdsshares |
| ChongqingXintai | refersto | ChongqingXintaiAluminumIndustryCo.,Ltd,acompanyinwhichAimaTechnologyholdsshares |
| GuangxiNingfu | refersto | GuangxiNingfuNewEnergyTechnologyCo.,Ltd,acompanyinwhichAimaTechnologyholdsshares |
| ShandongAidebang | refersto | ShandongAidebangIntelligentTechnologyCo.,Ltd.,acompanyinwhichTaizhouJinfuholdsshares |
| BeijingZhongzhong | refersto | BeijingZhongzhongTravelTechnologyCo.,Ltd.,acompanyinwhichAimaTechnologyholdsshares |
| TaizhouJinfu | refersto | TaizhouJinfuVentureCapitalPartnership(LimitedPartnership),acompanyinwhichAimaTechnologyholdsshares |
| Guigangproductionbase | refersto | AimaSmartTravelIndustrialParkproject,aproductioninitiativebyAimaTechnologyunderconstructioninGuigang,Guangxi |
| Lishuiproductionbase | refersto | AimaNewEnergySmartTravelEco-IndustrialParkproject,aproductioninitiativebyAimaTechnologyunderconstructioninLishui,Zhejiang |
| Taizhouproductionbase | refersto | TaizhouIntelligentElectricVehicleandHigh-SpeedElectricMotorcycleproject,aproductioninitiativebyAimaTechnologyunderconstructioninTaizhou,Zhejiang |
| Chongqingproductionbase | refersto | AimaSouthwestManufacturingBaseproject,aproductioninitiativebyAimaTechnologyunderconstructioninTongliang,Chongqing |
| NewNationalStandard | refersto | GB17761-2018SafetyTechnicalSpecificationforElectricBicycle |
| CRSC | Refersto | ChinaSecuritiesRegulatoryCommission |
| SSE | refersto | ShanghaiStockExchange |
| ConvertibleBonds | refersto | ConvertiblebondspubliclyissuedbytheCompanyin2023 |
| CompanyLaw | refersto | CompanyLawofthePeople’sRepublicofChina |
| SecuritiesLaw | refersto | SecuritiesLawofthePeople’sRepublicofChina |
| Yuan,tenthousandyuan | refersto | TheChinesecurrencyrenminbi(RMB)andtenthousandRMB |
| ArticlesofAssociation | refersto | ArticlesofTianjinAimaTechnologyCo.,Ltd. |
| Reportingperiod | refersto | January1,2023toDecember31,2023 |
| Sameperiodoflastyear | refersto | January1,2022toDecember31,2022 |
| Electrictwo-wheelers | refersto | Electrictwo-wheelerscontain“electricbicycles”definedaccordingtothestandard“SafetyTechnicalSpecificationforElectricBicycle”(GB17761-2018)and“electricmoped”and“electricmotorcycle”withtwowheelsdefinedaccordingto“TechnicalTermsofMotorcycleandMopedPart1:TypeofVehicle”(GB/T5359.1-2019). |
| Electrictwo-wheelmotorcycle | refersto | “Electricmoped”and“electricmotorcycle”withtwowheelsdefinedaccordingto“TechnicalTermsofMotorcycleandMopedPart1:TypeofVehicle”(GB/T5359.1-2019). |
Note:Discrepanciesbetweenthesumofindividualvaluesandthetotalfiguresinthisreportmayoccurduetoroundingadjustmentsmadeduringcalculations.
Section2CompanyProfileandKeyFinancialIndexesI.Company’sInformation
| Chinesename | 爱玛科技集团股份有限公司 |
| AbbreviationofChinesename | 爱玛科技 |
| Englishname | AimaTechnologyGroupCo.,Ltd. |
| AbbreviationofEnglishname | AIMA |
| Legalrepresentative | ZhangJian |
II.ContactInformation
| BoardSecretary | SecuritiesRepresentative | |
| Name | WangChunyan | LiXin,MaQunbo |
| Address | 22/F,GlobalFinancialCenter,No.2DaguNorthRoad,HepingDistrict,TianjinCity | 22/F,GlobalFinancialCenter,No.2DaguNorthRoad,HepingDistrict,TianjinCity |
| Tel | 022-59596888 | 022-59596888 |
| Fax | 022-59599570 | 022-59599570 |
| amkj@aimatech.com | amkj@aimatech.com |
III.GeneralCompanyInformation
| Registeredaddress | No.5AimaRoad,SouthArea,JinghaiEconomicDevelopmentArea,TianjinCity |
| Changesofregisteredaddress | Notapplicable |
| Officeaddress | No.5AimaRoad,SouthArea,JinghaiEconomicDevelopmentArea,TianjinCity |
| Zipcode | 301600 |
| Website | www.aimatech.com |
| amkj@aimatech.com |
IV.InformationDisclosureandPlaceofPreparation
| MediaandwebsiteswherethisReportisdisclosed | SecuritiesTimes,SecuritiesDaily,ChinaSecuritiesJournal,ShanghaiSecuritiesNews |
| StockexchangewebsitewherethisReportisdisclosed | http://www.sse.com.cn |
| PlacewherethisReportislodged | BoardofDirectorsOfficeoftheCompany |
V.StockProfile
| Stockprofile | ||||
| Categoryofstock | Stockexchange | Abbreviationofstock | Stockcode | Abbreviationofstockbeforechange |
| Ashare | ShanghaiStock | Aima | 603529 | Notapplicable |
| Exchange | Technology |
VI.OtherRelevantInformation
| AccountingfirmengagedbytheCompany(domestic) | Name | Ernst&YoungHuaMingLLP |
| Officeaddress | 17/FErnst&YoungBuilding,EasternSquare,No.1DongchanganStreet,DongchengDistrict,BeijingCity | |
| Nameofsigningaccountant | GuoJing,ZhaoRuiqing | |
| Sponsorthatfulfilledthecontinuoussupervisiondutiesduringthereportingperiod | Name | HuataiUnitedSecuritiesCo.,Ltd. |
| Officeaddress | 6/F,BlockA,FengmingInternationalBuilding,No.22FengshengHutong,XichengDistrict,BeijingCity | |
| Nameofsigningsponsorrepresentative | ZhaoNaiji,YangYang | |
| Durationofcontinuoussupervision | August16,2022toDecember31,2024 |
VII.MajorAccountingDataandFinancialIndexesinRecentThreeYears(I)Majoraccountingdata
Unit:Yuan(RMB)
| Majoraccountingdata | 2023 | 2022 | Yoychange(%) | 2021 |
| Revenue | 21,036,120,862.29 | 20,802,212,994.46 | 1.12 | 15,398,710,870.72 |
| Netprofitattributabletoshareholdersofthelistedcompany | 1,881,115,782.35 | 1,873,433,343.24 | 0.41 | 663,998,092.90 |
| Netprofitdeductingnon-recurringgainsorlossesattributabletoshareholdersofthelistedcompany | 1,764,467,999.39 | 1,797,357,709.42 | -1.83 | 616,214,620.89 |
| Netcashflowsfromoperatingactivities | 1,864,276,233.90 | 5,051,454,116.94 | -63.09 | 2,094,187,373.97 |
| 2023yearend | 2022yearend | Yoychange(%) | 2021yearend | |
| Netassetsattributabletoshareholdersofthelistedcompany | 7,712,038,217.61 | 6,721,176,109.98 | 14.74 | 4,974,827,390.92 |
| Totalassets | 19,892,813,618.33 | 18,471,355,153.82 | 7.7 | 13,396,944,911.18 |
(II)Majorfinancialindexes
| Majorfinancialindexes | 2023 | 2022 | Yoychange(%) | 2021 |
| Basicearningspershare(Yuan/share) | 2.2 | 3.31 | -33.53 | 1.79 |
| Dilutedearningspershare(Yuan/share) | 2.12 | 3.31 | -35.95 | 1.79 |
| Basicearningspersharedeductingnon-recurringgainsorlosses(Yuan/share) | 2.06 | 3.17 | -35.02 | 1.66 |
| Weightedaveragereturnonnetassets(%) | 25.4 | 31.15 | Decreaseof5.75percentagepoints | 17.46 |
| Weightedaveragereturnonnetassetsafterdeductingnon-recurringprofitorloss(%) | 24.01 | 30.08 | Decreaseof6.07percentagepoints | 16.31 |
DescriptionofmajoraccountingdataandfinancialindexesoftheCompanywithinthreeyearsbeforetheendofthereportingperiod?Applicable√NotapplicableVIII.DifferenceofAccountingDataunderDomesticandInternationalAccountingStandards(I)DifferencebetweennetprofitsinthefinancialreportconcurrentlydisclosedaccordingtointernationalaccountingstandardandaccountingstandardofChina,anddifferencebetweennetassetsattributabletoshareholdersofthelistedcompany?Applicable√Notapplicable(II)DifferencebetweennetprofitsinthefinancialreportconcurrentlydisclosedaccordingtooverseasaccountingstandardandaccountingstandardofChina,anddifferencebetweennetassetsattributabletoshareholdersofthelistedcompany?Applicable√Notapplicable(III)Descriptionofdifferencebetweenoverseasanddomesticaccountingstandards:
?Applicable√NotapplicableIX.MajorFinancialDatabyQuarterin2023
Unit:Yuan(RMB)
| Q1 | Q2 | Q3 | Q4 | |
| (Jan.-Mar.) | (Apr.-Jun.) | (Jul.-Sep.) | (Oct.-Dec.) | |
| Revenue | 5,441,881,320.83 | 4,774,698,099.50 | 7,239,025,069.68 | 3,580,516,372.28 |
| Netprofitattributabletoshareholdersofthelistedcompany | 477,753,704.97 | 417,036,288.22 | 662,750,522.73 | 323,575,266.43 |
| Netprofitdeductingnon-recurringgainsorlosses,attributabletoshareholdersofthelistedcompany | 468,732,144.84 | 364,906,660.17 | 613,252,615.20 | 317,576,579.18 |
| Netcashflowsfromoperatingactivities | 1,392,270,811.53 | -1,754,257,286.27 | 3,749,734,836.34 | -1,523,472,127.70 |
Descriptionofdifferencebetweenquarterlydataanddataofthedisclosedperiodicalreport?Applicable√Notapplicable
X.Non-recurringGainsorLossesItemsandAmounts
√Applicable?Notapplicable
Unit:Yuan(RMB)
| Non-recurringgainsorlosses | 2023 | 2022 | 2021 |
| Profitorlossfromdisposalofnon-currentassets,includingthewrite-offofprovisionforassetimpairment | -5,102,906.88 | -5,205,312.26 | -12,713,091.69 |
| Governmentgrantsrecognizedinduringprofitorloss(excludingthosehavingcloserelationshipwiththeCompany’snormalbusiness,conformingtothenationalpoliciesandregulationsandenjoyingongoingfixedamountorquantityaccordingtocertainstandard) | 148,273,316.15 | 91,038,555.75 | 34,294,933.55 |
| Profitorlossarisingfromchangesinfairvalueoffinancialassetsandfinancialliabilitiesheldbynon-financialentities,andprofitorlossarisingfromdisposaloffinancialassetsandfinancialliabilities,exceptforeffectivehedgingactivitiesrelatedtotheCompany’snormalbusinessoperations | -17,226,650.77 | -12,120,000.00 | 9,978,187.68 |
| Writebackoftheimpairmentprovisionforreceivablesthathavebeenindividuallytestedforimpairment | 3,439.63 | 24,164,117.84 | |
| Gainsarisingwhentheinvestmentcostinacquiringsubsidiaries,associates,andjointventureswaslessthanthefairvalueoftheidentifiablenetassetsatthetimeofinvestment. | 99,502.54 | 3,497,737.94 | |
| Non-operatingincomeorexpensesotherthantheaboveitems | 18,838,780.52 | -13,062,366.52 | 6,361,478.19 |
| Othergainorlossincompliancewiththedefinitionofnon-recurringgainorloss | 5,994,200.26 | 16,736,022.09 | 22,292,050.35 |
| Less:Amountaffectedbytheincometax | 34,159,727.30 | 25,387,754.23 | 15,927,824.01 |
| Affectedamountofminorityshareholders’equity(aftertax) | 72,171.19 | 87,628.85 | |
| Total | 116,647,782.96 | 76,075,633.82 | 47,783,472.01 |
Descriptionofclassifyingsignificantitemsnotlistedin“ExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesIssuingSecurities—Non-RecurringGainsandLosses”asnon-recurringitems,aswellasforreclassifyingitemsdesignatedasnon-recurringinthesameannouncementasrecurringprofitsandlosses.?Applicable√NotapplicableXI.ItemsMeasuredatFairValue
√Applicable?Notapplicable
Unit:Yuan(RMB)
| Nameofitem | Beginningbalance | Endingbalance | Change | Impacttotheprofitorlossofcurrentperiod |
| Financialassetsatfairvaluethroughothercomprehensiveincome-receivablesfinancing | 8,332,754.00 | 8,893,241.61 | 560,487.61 | N/A |
| Financialassetheldfortrading | 142,668,675.59 | 176,041,430.92 | 33,372,755.33 | -14,659,496.76 |
| Total | 151,001,429.59 | 184,934,672.53 | 33,933,242.94 | -14,659,496.76 |
XII.Others?Applicable√Notapplicable
Section3DiscussionandAnalysisoftheManagement
I.DiscussionandAnalysisonOperationSituation
Duringthereportingperiod,facingintensifiedindustrycompetition,extremeweatherandotheradversefactors,theCompanycloselyfollowedthestrategicaxisof“UsersFirst,ExcellentProducts,In-depthDevelopmentintheMarket,RefinedOperation”andthestrategicdirectionoftransitioningtoadigitizedtechnologycompany.Itcontinuedtofocusonitscorebusiness,namely,developmentandmanufactureofelectrictwo-wheelers,strictlyimplementedtheannualbusinessplan,andachievedcommendableoperatingresults.Duringthereportingperiod,theCompanyachievedarevenueof21,036.1209millionyuan,anincreaseof1.12%year-over-year;netprofitattributabletoshareholdersofthelistedcompanywas1,881.1158millionyuan,anincreaseof0.41%year-over-year;netprofitdeductingnon-recurringgainsorlossesattributabletoshareholdersofthelistedcompany,was1,764.4680millionyuan,adecreaseof1.83%year-over-year.ThekeyfocusareasoftheCompanyin2023wereasfollows:
(I)Improvementofproductpower
Regardingproductresearchanddevelopment,theCompanyexaminedandreviewedtheproductdevelopmentprocesswithaninvestmentmindset.Duringthereportingperiod,thedevelopmentofkeyproductswasfullyupgradedfromAimaForwardProductDevelopmentProcess(APDS)toIntegratedProductDevelopment(IPD).Intheplanningphase,comprehensivedemandmanagementwasimplemented,auserdemandresearchteamcomposedofprofessionalsinplanning,researchanddevelopment,andmarketingwasestablished.Theteamconductedsufficientmarketvisitsandregionalobservationsundertheguidanceofscientificmethodsandproducedplanningreportsfocusedonproductcommercialvalueandcompetitiveness,tothoroughlyclarifyuserdemandandproductpositioningintheearlystagesofproductdevelopment,sothattheaccuracyandsuccessrateoftheproductplanningcanbecomprehensivelyimproved.Atthedecision-makingstage,theIntegratedProjectManagementTeam(IPMT),composedofseniordecision-makersfromvariousdepartments,actedastheproductdevelopmentdecisioncommittee.Theteamreviewednewproductplanningreportsandmadedevelopmentdecisionsbasedontheconceptofinvestmentvalue,ensuringcontinuouslaunchingstrategicallysignificantflagshipproductsthatpreciselymeetmarketdemandswhilecontrollingresourceinput.Duringthedevelopmentphase,takingproductsasprojects,eachproject'sPDT(ProductDevelopmentTeam,formedbypersonnelfromvariousfunctionaldepartmentssuchasindustrialdesign,R&D,procurement,manufacturing,qualitymanagement,andmarketing)wasfullyresponsiblefortheproductdevelopmentprocess.VariousfunctionaldepartmentscollaboratedcloselytoenhancethefeasibilityofproductdesignacrossallfunctionalareasoftheCompany,andconductedpreparatoryworksuchascomponentmatching,developmentvalidation,pilotproduction,andlaunchmarketingconcurrentlyfromthestartofproductdesign,whichisconduciveto
rapidlydevelopingproductsandpromptlyrespondingtomarketdemandswhilecontrollingdevelopmentcosts.Regardingtechnologyplatformization,theCompanytreatstechnologydevelopmentasafunctionalprovideroftechnologyandprocessesforproductdevelopment.Duringthereportingperiod,theCompanycontinuedtoadvancetheconstructionofCommonBuildBlock(CBB)sharedmodules.ThetechnicaldevelopmentdepartmentnotonlyprovidesCBBsthatmeettheneedsforthecurrentstageofproductdevelopment,butalsoconductstechnologicalreservesanddevelopsCBBsthatleadtheindustry'sdevelopmentbasedontheCompany'sanalysisofmarkettrends.Intermsofpartsplatformization,theCompanyincreasedthegeneralizationrateandthemodularizationrateofcomponents,atthesametime,integratedvariouscomponentsofhighadaptabilityandexcellenceinquality,performance,andcostcontrol,thenstandardinterfaceswereusedforconnectiontoformplatforms,whichwereappliedtothedevelopmentofmultiplevehiclemodels.Throughvehicleplatformization,thevariousstagesoftheproductdevelopmentprocesscouldbecarriedoutinparallelandremotely,reducingdependenciesbetweenstages,andcouldbedirectlyalignedwithmarketdemands,therebyenhancingtheprecisionandefficiencyofproductdevelopmentandensuringthestabilityofproductqualityandperformanceaswellascostcontrollability.Regardingqualitymanagement,theCompanycontinuouslyadvancedandoptimizedtheentireprocessqualitycontrolsystem.Duringthereportingperiod,theIPDprocessforproductdevelopmentwasinitiallyintroduced,thereviewofqualityobjectivesandcompetitivenessinprojectqualityplanningwasstrengthenedintheproductdesignphase,theindicatorsystem,whichpreviouslyfocusedondeliverables,wasoptimizedtoemphasizeplanninginformationandcompetitivenessanalysis,furthershiftingqualitymanagementtowardsbeing"guidedbyuserdemands”.Meanwhiletechnicalexpertteamswereestablishedaccordingtotheattributesofcompletevehiclesandcomponents,andtookresponsibilityfordesignquality.Duringtheproductdevelopmentstage,thegradingandreviewmanagementmechanismofqualitygatedeliverableswasimplemented,executingthequalitygatepre-reviewandearlywarningmechanismtocomprehensivelyimprovetheprocessqualityofnewprojectdevelopment.Intheproductionprocess,relyingonintelligentmanufacturing,ERP(EnterpriseResourcePlanning),intelligentqualitymanagement,qualityinformationpuzzle,andotherdigitalizedoperationalsystems,theCompanyachievedcomprehensivequalitydatacollection,intelligentanalysis,smartalerts,intelligentcontrol,smartforecasting,andintelligentdecision-making,establishedaunifiedqualitymanagementsystemandcommonqualitystandards,focusingonproductissueimprovement,andbuildingarigidandcomprehensivequalitymanagementdataoperationsystem.Intermsofinspectioncapabilityenhancement,integratingtheproductdevelopmenttestingconceptsoftheautomotiveindustry,theCompanyscientificallydesignedschemesoftestplanningandverification,conductingcomponent-level,system-level,andcompletevehicle-leveltestsconcurrently,tofurtherenhanceinspectionefficiencyandeffectiveness.Duringthereportingperiod,over30setsofinspectionequipmentwereinvestedinattheproductionbases,expandinginspectioncapabilitiesinareassuchasshockabsorberdurability,
materialphotodegradation,highandlowtemperatureimpactsonelectricalcomponents,completevehiclevibrationdurability,andvehiclesteering.Anewdimensionalmeasurementroomwasadded,capableofmeasuringthelengthdimensionsandpositionaltolerancedimensionsofcriticalcomponents.
(II)Improvementofchannelcapacityandcapability
Channelconstructionandupgradewereoneofthefocalpointsduringthereportingperiod.Ononehand,theCompanycontinuedtoexpandthenumberofchannels,implementedastrategytodeepenchannelpenetration,strengthenedtheestablishmentofoutletsinurbancommunitiesandtownships,andincreasedthenumberofterminalstorefronts.Ontheotherhand,guidedbyuserdemandsandutilizingadvanceddigitalintelligencetoolstocollectandanalyzeconsumerinformationandconductscientificmarketresearch,theCompanypreciselyassessedtheconsumptioncharacteristicsandmarkettrendsofdifferentregionsandgroups,basedonwhich,theCompanystrategicallyadjustedthechannelstructureandproductcombinationstrategiesfordifferentchannels.Duringthereportingperiod,theCompanycontinuedtoenhancetherefinedmanagementofstores.TheCompanyhasconstantlyimprovedtheentirelifecyclemanagementofchannels,gradedmanagement,andincentivesystems,whichfostereddealers'enthusiasmforimprovingoperationalandmarketingcapabilities,helpingtomaintainchannelvitalityandefficiency.TheCompanygraduallystrengthenedtheimplementationoftheRetailManagerPlan,whichservesindividualstoresandreachesin-storesellers,toachievegrid-basedchannelmanagementbytheCompany.ThePlanhasestablishedasmoothandefficientinformationsharingandcommunicationmechanismbetweentheCompanyanditschannels,whichisbeneficialfortheCompanytocomprehensivelyandaccuratelygraspthespecificsofallitsdealersandstores,layingasolidfoundationforimplementinggradedmanagementandpreciseassistance,alsofacilitatingtherapidimplementationofmarketingstrategiessuchasnewproductlaunches.TheCompanycontinuedtoadvancethedigitizationofchannels,buildingaone-stopdealer’sserviceplatformtoefficientlyhandledealers’orderplacement,inventorymanagement,distributionandotherprocesses.TheCompanyconstructedaretailsystem“LingShouTong”forstorestoimprovechanneloperationalefficiencyandcollectdynamicsalesdata,bywhichtheCompanycangatherandanalyzeseasonal,cyclical,andotherpatternsinproductsalesacrossdifferentregionalmarkets,aswellasconsumerpreferences,markettrendsandotherrelevantinformation.Basedonthisinformation,theCompanyoptimizedtheproductstructure,marketingplans,andinventorystructureofeachsub-regiontoachieveprecisemarketingandenhancetheoutputofindividualstores,furthermore,channeldatacaninformproduction,enhancingtheaccuracyofitsproductionplanning.TheCompanyhasbeeninsistingonvalueintegrationoffactoryanddistributor,andhasestablishedaspecialtrainingsystemandbusinessteam.Basedontheanalysisofchanneloperationanddata,dealers,stores,andsalespersonswereclassified,andtailoredempowermentprogramsandtrainingcontentwerecustomizedforeachcategory,meanwhiledigitaltrainingsystemswereleveragedtoachievepreciseandefficientempowerment.Toenhancethee-commerceoperationcapabilitiesofdealers,theCompanyprovidedoperationaltrainingandtechnicalsupportfromtrafficacquisitionto
salesconversionfordealers,guidingmoredealerstousevariousnewtoolssuchasself-media,shortvideos,andseedingAPPsastheirregularmarketingmethods,andpromotingthedevelopmentofdealerlivebroadcastingmatrix.Inrecentyears,theCompanyhaspilotedtheoperatormodelinregionswithnumerousdealersbutsmallerscales.Inthismodel,productssoldintheregionareuniformlypurchasedanddistributedbyoperatorscollaboratingwiththeCompany.UnlikethetraditionalmodelwheretheCompanyprimarilymanagesdealersandthroughthemmanagesdistributorsandchannelstores,intheoperatormodel,operatorsmanageordersinastandardizedwholesalemarkupmanner.TheCompanydirectlyutilizesdigitalsystemstostandardizeandrefineretailmanagementatthestorelevel,strengtheningtheCompany’scontroloverterminalswhilemakinglightassetinvestments,whichfacilitatestherapidandefficientimplementationoftheCompany’sproductandmarketingpolicies.Thedatarecoveryratioofterminaldynamicsalesintheoperatormodelisalsohigher.Duringthereportingperiod,theCompanyexpandedthepilotareasfortheoperatormodelinsuitableregions,accumulatingoperationalandretailexperience.Regardinginternationalchannels,theInternationalDivisionimplementedchannelexpansionplanstailoredtotheregionalcharacteristicsandconsumerhabitsofmajormarkets.Duringthereportingperiod,theCompanyparticipatedintheChinaImportandExportFair(Guangzhou),ElectrifyLongBeachexhibition(theUSA),andtheMilanexhibitioninItaly,activelyshowcasingitsproductsandengaginginin-depthcommunicationsandnegotiationswithpotentialoverseascustomers,helpingtoexpandtheinternationalsalesnetwork.TheCompanyopenedanAlibabainternationalplatformandastandalonesite(Aima’sofficialoverseaswebsite),usingplatformoperationstoincreasebrandexposureinoverseasmarketsandexpandcustomeracquisitionchannels.ItestablishedproductsalescooperationwithbusinessesinNorthandSouthAmerica,makingsignificantprogressinlocalchannelexpansion.Duringthereportingperiod,internationalbusinessrevenuewas226.0732millionyuan,anincreaseof2.21%year-over-year.
(III)Improvementofbrandpower
TheCompanyadopted"TechnologyandFashion"asitsbrandproposition,with"RidewithAima,RidewithFashionandEase"asitsbrandslogan.Duringthereportingperiod,itundertookafull-dimensionalyouthfulupgradeofthebrand,centeredonfashion,innovation,personalization,digitization,socialparticipation,andsocialresponsibility.Intermsofproducts,theCompany'sstrengthsinfashiondesignandcolorschemeswereprominentandindustry-leading.Duringthereportingperiod,itlaunchedtheelegantlyluxurious"Egg"model,thefashionablycute"Luna"model,thetech-savvy"DreamMaker"model,themech-cool"Geek"model,andtheyouthfulandrobust"Commander"model,aimedatpreciselymeetingthesegmentedaestheticneedsofyoungconsumers.Incollaborationwitharenownedcolorinstitute,theCompanyconductedresearchonindustrycolortrends,releasedtheannualfashionablecolor"VibrantMagenta”,andactivelyappliedittovehicledesign,storedisplays,andpromotionalmaterials,conveyingabrandtoneof"sophistication,vitality,optimism,andbravery”.TheCompanycontinued
toadvanceproductinnovation,enhancingtheexperienceofintelligentfeaturestoattracttheattentionofyounggroupswiththetechnologicalcontentoftheproducts.Intermsofrefreshingthebrandimage,theCompanyusedfashionabledesignelementsandcolorstoupgradestoreimages,introducedsoftfashionterminalscenedisplays,implementingpopularfashionscenesbelovedbyyoungconsumergroupssuchas"OutdoorAdventure”,"FashionExploration”,"ReverseTourism”,"SoloLeisure”,and"Human-PetCoexistence".Theseactionscouldprovidepersonalizedandenjoyableshopping,experiences,establishingastrongconnectionbetweentheCompany'sproductsandthefashionablelifestyleinconsumerminds.TheCompanyestablishedtheindustry'sfirstfemale-exclusivecategorystorecalled"MissLadiesFashionThemeStore",decoratedwithpinktonesandpairedwithexclusivedisplaydesignstoshowcaseterminalscenesthemedaround"PunkGirl","MoonGirl",and"SweetheartGirl",Showcasingasweet,cool,andchicfashionattitudeforyoungwomen.Duringthereportingperiod,morethan50exclusivestoresweresetup.TheCompanycollaboratedwithhigh-qualityvarietyshows"RidetheWind2023"and"CallMebyFire3",signingtalentedartistsandyoungidolsasbrandfashionambassadors,andcooperatedwiththefashionmagazineELLEtoshoottheAimaShinefashionseries.ThetwohotvarietyshowshadhelpedAimabrandmaintainhighvisibilitythroughouttheyearontopfashionplatformssuchasWeiboandXiaohongshu,withexposureanddiscussionexceedingbillionsoftimes,achievingexcellentpromotionalresults.Intermsofbrandactivities,theCompanyplannedinteractivebrandeventstomeetthesocialneedsofyoungconsumersforparticipationandexperience,includinglaunchingthecollegestudent-exclusivemini-program"AimaShiningZone",recruitingcollegecampusfashionofficers,establishingAimaCreativeWorkshopsatmultipleuniversities,holdingtheAimaStarChasingMusicFestival,andcreatingbrandpromotionalIPsonBilibili.TheCompanyobtainedtheauthorizationforthegamingIPArenaofValor.andheld"AimaKingsChallenge"eventsinmultipleregions,invitingArenaofValorchampionshipteammembersforliveinteractionswithfansduringthefinals;theCompanyinvitedwell-knownbasketballstarstoparticipateintheAimaFansBasketballFestival,integratedAimamodelsintopopulardomesticonlinegamessuchas"JourneytotheWest"and"EarthRevival"asmountsforin-gamecharacters,collaboratedwithlocaloriginalIPsbelovedbyyounggeneration,launchingtheAima-LittleYellowDuckco-brandedseries.TheCompanyfullyrespectsthetrendypreferencesanddiverseculturesoftheyoungerdemographic,demonstratinganopen,equal,andinclusivebrandattitude.Regardingsocialresponsibility,theCompanycontinuouslypromotedgreenoperationsandbuiltgreenfactories.Duringthereportingperiod,itinitiatedanESGcampaignatanindustryforumforthefirsttime,ledtheindustryinpracticingsustainabledevelopmentconcepts,activelyrespondingtoyoungconsumers'environmentalprotectionconcerns,andbuildingresonanceandemotionalconnections.(IV)ImprovementoftechnologicalpowerTheCompanyhasalwaysregardedindependentR&Dasthefoundationforimprovingproductperformance,competitiveness,andachievinglong-termdevelopment.Ithas
continuouslyincreasedinvestmentsinR&D,withR&Dexpensesduringthereportingperiodamountingto589,467.2thousandyuan,anincreaseof16.34%year-over-year.Duringthereportingperiod,theCompany,incollaborationwiththeChinaNationalInstituteofStandardization,introducedtheindustry'sfirstenduranceteststandardbasedonactualuserdrivingconditionsforelectricmotorcycles,titled“TestMethodsforEnergyConsumptionRateandRangeofElectricMotorcyclesunderUserDrivingConditions”.Thisstandardbreaksawayfromtheconventionalconstantspeedmileagetestmethodandinsteadevaluatestherangeofelectricmotorcyclesbasedonactualuserdrivingconditions,includingurban,rural,andcomprehensivedrivingconditions,coveringvariousreal-worldusagescenarios,therebythetestresultscloselyreflecttheactualenduranceperformance,facilitatingindustrytechnologicalinnovationandtheenhancementofstandards,therebyenhancingconsumertrust.Basedontheresultsoftestscoveringtensofthousandsofkilometersundervariousconditions,theCompanylaunchedanewgenerationofenginetechnologysystemsduringthereportingperiod—Engine5,focusingonperformanceenhancementsinthetriple-electricsystemandsmartapplications:
developingthreetypesofhigh-efficiencymotorswithdifferentperformancefocusestailoredtovariousterrainsandlandscapes,andutilizingin-housedevelopedcontrollersthatexcelinarchitecturestability,compatibility,andprecisecontrol,furtherenhancingtheefficiencyofthepowersystem.TheCompany’sintelligentecosystemwasfullyintegrated,achievinganinterconnectedapplicationof"Human-Vehicle-Device-Helmet-APP-Cloud”.Intermsofcoretechnologyresearchintheindustry,theCompanycontinuedtoadvancetheR&Doftechnologiessuchasmotors,controllers,batteries,newmaterialsapplications,havingmademultipleaccomplishments.Inmotordevelopment,theCompanydevelopedhigh-efficiencyultra-quietbread-shapedhubmotorsandhigh-efficiencysalientpolemotors;theformerusesinnovativetechnologiesandprocessessuchaspatentedbread-shapedmagneticsteeldesigns,unequalairgapdesigns,anduniqueadhesiveformulastoachievehighefficiency,highquality,andlownoise.Thelatter'sdesignphilosophyandprocessesdrawfromthecharacteristicsoftheautomotiveindustry'sreluctance-assistedpermanentmagnetsynchronousmotors,usingfewerpolepairstoreduceironlossesinthemotor,enhancinghigh-speeddemagnetizationcapabilitytoreducedemagnetizingcurrents,therebysignificantlyimprovingenergyefficiencywhileconsideringthereluctancetorqueproducedbythesalientpoleeffect,whichenhancesthemotor'smaximumoutputtorque,improvingvehiclepowerperformanceandridingexperience.TheCompany'sin-housedevelopedmotorshavebeenproducedinternallyandappliedinitsproducts,withnearly4millionunitsusedduringthereportingperiod.Intermsofcontrollers,theCompanydevelopedtheAzureController,utilizingAUTOSARsoftwarearchitecture,torquecontrolstrategyarchitecture,andanintegratedthree-in-onedomaincontrolsystem(MCU&VCU&DCDC),offeringmultipledrivingmodestomeetusers'needsforvarioususagescenarios.TheAzureControllerhasbeenmass-producedandappliedtotheCompany’sproducts.Regardingbatteries,theCompanyactivelymonitoredthedevelopmentofcutting-edgetechnologiesinthebatterysector,continuouslyadvancingtheR&Dofsodiumbatteryapplications,makingsignificantprogressduringthereportingperiod.Additionally,theCompanymaintainedR&D
investmentsinhigh-glosscolorABSandcoverlightingprocesses,newintelligentsensors,environmentallyfriendlywater-basedcoatings,andotherfields.Intermsofcoretechnologicalresearchintheindustry,theCompanyiscommittedtobuildinganall-encompassingsmartecosystemof"Human-Vehicle-Phone-Helmet-APP-Cloud”,throughanintegratedecosystemcoveringsoftwareapplicationlayerAPPs,cloudplatforms,smartcentralcontrols,andsmarthelmets,equippedwithlight,medium,orfullsmarttechnologyplatformstoachievevaryingdegreesofinteractionandconnectivityamongthevehicleandmobilephone,user,Aimacloud,andbackenddata.Onthevehicleend,advancedelectronicandelectricalarchitecturesareusedwithintegratedinstrumentsasthesmartcentralcontrol,optimizingperformanceundervariousroadconditions,enhancingridingsafetyandcomfort.OntheAPPend,itfacilitatesvehicleaccessandcontrolofsmartfeatures.Onthehumanend,throughperipheralslikeAimasmarthelmets,itachievesinterconnectivitybetweenthevehicle,mobilephone,anduser,allowingvoicecontroloverphonecalls,musicplayback,mapnavigation,andone-touchSOSthroughwearingtheAimasmarthelmet.Onthecloudend,theAimaOS(OperatingSystem)middlewareandbackendprovidereal-timedataservicestousers.ThesmartfeaturesloadedontheCompany’sproductsareresponsiveandprecise,earningconsumerrecognition,andduringthereportingperiod,salesofsmartmodelsincreasedsignificantly.(V)ImprovementofproductivityDuringthereportingperiod,theCompany'smanufacturingsystemfocusedonimprovingtherapidscalabilityofnewproducts,ensuringmanufacturingquality,andcostreductionandefficiencyimprovement,whichisconducivetoenhancingtheCompany'soverallmanufacturingcapabilitiestobetterimplementitsbusinessstrategywithinthemanufacturingsystem.TheimplementationoftheIntegratedProductDevelopment(IPD)processinthemanufacturingsysteminvolveddeepparticipationinthenewproductdesignanddevelopmentprocess,withmanufacturabilityandproductconsistencyasthemaincriteriaforparticipatinginthedatareviewandengineeringprototypereviewfornewproductdevelopment.Thesupportingproductionpreparationworkwasadvanced,includingcapacitymatching,identificationofcommoncomponentsandinitiatingthetoolinginadvanceandmaterialpreparationbasedonnewproductplans,enhancingtheCompany'sabilitytoquicklyscaleupnewproducts.TheCompanycontinuedtoadvancetheautomationoftheproductionprocess,duringthereportingperiod,automationprojectswerelaunchedattheproductionbasesasneeded,includingautomatedweldingofhandlebars,roboticpowdercoatingofframes,roboticpaintingofplasticparts,automaticlockingequipmentfordiscbrakes,automaticloadingandunloadingfortireremovalmachines,andautomaticscanningoffinishedgoodsinandoutofstorage,whichhelpimproveproductionefficiencyandensureproductquality.Intermsofinformatization,duringthereportingperiodthecomprehensiveuseofinformatizedproductionreportsatallproductionbaseswasprioritized,coveringattendancepatterns,teamsettings,efficiencymonitoring,productiondashboards,andotherinformation.Byautomaticallycollecting,summarizing,andpresentingdataonpeople,machines,materials,methods,andinformationthroughouttheproductionprocess,theCompanyachievedvisibility
acrosstheentiremanufacturingchain,earlywarningofanomalies,andguidanceforimprovementsattheproductionsite,ensuringtheconsistencyandstabilityofhigh-qualityproductoutput.TheCompanycontinuedtoadvanceitscapabilitytoproducecorecomponentsin-house,aimingtoenhancethequalityandsupplyspeedofcorecomponentswhilereducingcosts.Duringthereportingperiod,in-housedevelopedandproducedmotorswereappliedincompletevehiclemanufacturing,meanwhile,effortsweremadetolayouttheproductionofessentialcomponentssuchaselectroniccontrols,handlebars,andfrontforks.Duringthereportingperiod,theCompanycontinuedtoadvancetheconstructionofnewbases,creatingfactoriesthatareautomatedinproduction,intelligentinlogistics,andinformatizedinmanagement,whicharealsoenergy-efficientandenvironmentallyfriendly.TheCompanyhasalsobeenfocusingonpromotingthedevelopmentofindustrialclustersaroundnewbases.In-depthresearchintotheconsumptionneedsandbusinessenvironmentsofmajoroverseasmarketsledtotheinitiationofpreparationsforestablishingaproductionbaseinSoutheastAsia,acceleratingthebrand'sinternationalexpansionandadvancingthelocalizationofproduction.(VI)ImprovementofoperationcapacityDuringthereportingperiod,theCompanyconductedanin-depthreviewoftheentirebusinessprocessandindustrialvaluechain,incorporatedadvancedbusinessconceptsandmethodologies,andestablishedaproductstrategyof"scalingupuponmarketlaunchforstrategicproducts",whichissupportedbytheIPMSprocess(IntegratedProductMarketing&Sales).ThecoreofthisapproachistointegratetheIntegratedProductDevelopment(IPD)processwithpost-productlaunchsalesandserviceprocesses.Asustainableandreplicableoperationalcapabilityforproductmanagementhasbeencultivated,characterizedbydirectaccessfromheadquarterstodistributorstores,deepcoordinationamongvariousfunctionswithintheCompany,andadualfocusonproductsalesandbrandbuilding.Guidedby"userdemandinsightandsatisfaction”,thisapproachemploysaninvestmentphilosophytoguidetheentirelifecyclemanagementofproducts,maximizingtheinvestmentvalue.Duringthereportingperiod,theCompanyactivelypracticed"improvingquality,consolidatingquantity,andreducingcosts”,withafocusonsupplyassurancetocontinuouslybuildasupplychainsystemthatisstableinqualityandhighlycost-effective.Intermsofqualityimprovement,itimplementedasuppliergradingmanagementsystembasedontheprincipleofsurvivalofthefittest,withsupplyqualityastheprimaryindicatorforsupplierperformanceratings,establishingrigidityinquality;theCompanycontinuedtoadvancesupplierempowermentprograms(includingsuppliermonthlyqualitymeetings,benchmarklearning),specialqualitymeetingswithkeysuppliersandotherqualityinitiatives,aimingtocontinuouslystrengthenthequalityfoundationofitssupplychain.Regardingquantityconsolidation,theCompanyfocusedexternallyonexcellentsupplierresources,increasedthesupplyproportionofhighlyratedsuppliers,andcontinuedtoextendthesupplychainvertically,integratingsuppliers'rawmaterialdemandsandorganizingcentralizedprocurement;internally,throughplatformizationofcomponents,
SKUsimplification,andmaterialstandardization,itreducedthevarietyofcomponentstoincreasethepurchasevolumeofsinglecategories,therebyenhancingtheefficiencyofthesupplychain;consolidatingquantityalsohelpsensureincomingmaterialqualityandreducepurchasingcosts.Intermsofcostreduction,inadditiontoconsolidation-drivencostreduction,theCompanyalsofocusedonR&Dcostreductionandguidanceforcostreduction,providingtechnicalandprocessimprovementsupporttosuppliersbasedontheiractualconditions,reducingsupplierresourcewastagewhileensuringquality,andenhancingsupplierproductionefficiency.Simultaneously,theCompanycontinuouslypushedforwardthelocalizationofthesupplychain,ononehand,itencouragedexcellentsupplierstoestablishfactories,offices,orthird-partytransferwarehousesatorneartheCompany'sexistingproductionbasestoshortenthesupplyradius;ontheotherhand,itplannedforlocalizedsupplierresourcesinadvancewhenplanningnewbases.localizationhelpsreducethetransportationcostsofcomponentsandbetterensuressupplycapability.Duringthereportingperiod,theCompanycontinuedtoadvancetheconstructionofthesmartlogisticssystem.Intermsofvehiclesaleslogistics,ithasfullytakenoverthetransportationbusinessoffinishedvehiclesfromthemainproductionbases;theshippingefficiencyimprovedfromthepreviousmanagementstandardofT(ordercompletionday)+3toT+2,withasignificantincreaseintheproportionofT+1shipments,effectivelyenhancingtheinventorymanagementefficiency.Basedontheshippingmileageoforders,itestablishedstandardizeddeliveryleadtime,effectivelymanagingtheproductdeliveryprocessandsupportingdealersinreasonablyarrangingtheirinventorystructure.Regardingcomponenttransportation,itgraduallyarrangedcomponentprocurementlogisticsoperationswithinthethreemajorindustrialclustersinChinanamelyTianjin,Wuxi,andTaizhou,thesystemhastakenovertheremotetransportationofmajorcomponents.Underthecentralizedpurchasingmodel,transportationdemandswereintegratedandtheplacementandstorageofcomponentswerepre-organizedaccordingtothecorrespondingpartsrequirementsoftheproductionplans,enablingdirectuseinproductionuponarrivalwithouttheneedforpost-arrivalinventorysorting,significantlyimprovingtheefficiencyofcomponentwarehouseunloadingandstorage,andgreatlyenhancingtheefficiencyofcomponentinventorymanagement.Additionally,theCompanyimplementedacomprehensivesetoflogisticsdeliverystandards,enforcingqualitymanagementthroughouttheentiredeliveryprocesstoensurethequalityofdeliveries.
II.IndustryOverviewoftheCompanyDuringtheReportingPeriod
1.IndustryclassificationAccordingtothe“IndustrialClassificationforNationalEconomicActivities”,theindustryinwhichtheCompanyoperatesis"C377-C3770MopedManufacture"(GroupandClass)of"C37ManufactureofRailway,Ship,AerospaceandOtherTransportEquipment”(Division).
2.Industrydevelopment
Thefirstelectrictwo-wheelerinChinadebutedin1995.Afterrapiddevelopmentandregulatoryexplorationformorethan20years,electrictwo-wheelershaveevolvedintothe
importanttransportationandproductiontoolsofshort-distancetravelforChineseresidents.Beforetheimplementationofthe"NewNationalStandard"in2019,theindustryhadalreadyestablishedacompleteindustrialchainsystemandabroadmarketbase.Thesocialstockofelectricbicycleshadexceeded250millionunits,withanannualproductionandsalesvolumemaintainingaround35millionunitsformanyyears,characterizedbyfiercemarketcompetitionandlowindustryconcentration.The2019"NewNationalStandard"regulatedtheresearchanddevelopment,production,sales,circulation,andusageofelectricbicycles,presentingtheindustrywithanopportunityforregulateddevelopment.Atthesametime,variouslocalitiessetdifferenttransitionperiodsfortheimplementationofthe"NewNationalStandard",whichisexpectedtoendbythecloseof2024.Afterthetransitionperiod,modelsthatdonotmeettherequirementsofthe"NewNationalStandard"willnotbeallowedtorunonroads.,andtheresultantreplacementdemandwillcreatenewgrowthopportunitiesinmarketcapacity.Underpinnedbyregulateddevelopmentandreplacementdemandduringthetransitionperiod,theindustryhasonceagainenteredaperiodofrapiddevelopment.Inthisphase,marketsharetendstoconcentratetowardslarge-scaleenterprises,industrygiants,andbrandedcompanies,acceleratingtheoptimizationofindustryorderandcontinuouslyincreasingmarketconcentration.Againstthebackdropofeconomictransformation,informationtechnology,anddual-carbonpolicies,theconsumermarketforelectrictwo-wheelersisgraduallyexhibitingthreetrends:consumptionupgradingandpersonalizedconsumerdemand,raisingconsumerenvironmentalawareness,andthepursuitofconvenienceandintelligencebyconsumers.Additionally,duetoincreasingdemandintheinternationalmarket,theelectrictwo-wheelerindustry,whichoriginatedandthrivedlocally,ismovingfurtherabroad,acceleratingitspathtointernationalization.Therefore,thefutureoftheelectrictwo-wheelerindustrywilllikelytrendtowardsdifferentiation,high-endproducts,intelligence,andinternationalization.Within-depthconsumerinsightsandcustomizedproductdevelopment,continuousapplicationofinternettechnology,smarttechnology,andnewenergytechnologyintheelectrictwo-wheelerindustry,alongwiththeongoingdevelopmentandexpansionofglobalbusiness,thesefactorswillbecomethemaindriversofindustrydevelopmentaftertheendofthe"NewNationalStandard"transitionperiod,propellingtheindustryintoanewphaseofrapidgrowth.
TableDevelopmentstagesofelectrictwo-wheelerindustry
| Industrydevelopmentstage | Period | Developmentcharacteristics | Industryfeaturesandstructure |
| Generationandrapiddevelopment | From1995to“NewNationalStandard”takingeffect | Rapiddevelopmentfromzero | Manymanufacturers,seriousproducthomogenizationandfragmentedmarketshare |
| Transitiontoorderly | From“NewNationalStandard” | Increaseinmarketcapacity | Numeroussmallenterprisesexitthecompetition,market |
| development | takingeffecttoexpiryoftransitionperiod | ImprovedregulatoryframeworkStandardizationofindustryorderIncreasedmarketconcentration: | shareofleadingenterprisesincreases,resourcesconcentratetowardsleadingenterprises |
| FutureandTransformationalDevelopment | Fromexpiryoftransitionperiodof“NewNationalStandard”onwards | MarketshiftsfromprimarilydomestictoequallyprioritizingbothdomesticandinternationalmarketsIndustrytransitionsfrommanufacturingandsellingvehiclestoprovidinguser-basedservices | Industrydevelopmentcharacterizedbydifferentiation,high-end,intelligence,andinternationalization |
III.DescriptionofTheCompany’sBusinessesintheReportingPeriod(I)MainbusinessoftheCompany
TheCompanywasestablishedin1999andenteredtheelectrictwo-wheelerindustryin2004,becomingoneoftheearliestelectrictwo-wheelermanufacturersinChina.Themainbusinessincludestheresearch,development,manufacturing,andsalesofelectricbicycle,electricmopedandelectricmotorcycle.Overtheyears,theCompanyhascontinuouslyenhanceditscorecompetitiveness,becomingoneoftheleadingenterprisesintheelectrictwo-wheelerindustry.
(II)MajorproductsoftheCompany
1.Electrictwo-wheelers
| Classification | Electricbicycle | Electrictwo-wheelmotorcycle | |
| Electricmoped | Electricmotorcycle | ||
| Nature | Non-motorvehicle | Motorvehicle | Motorvehicle |
| Pedalridingability | Mandatory | None | None |
| MaximumSpeed | ≤25km/h | ≤50km/h | ＞50km/h |
| Wholemass | Shallnotexceed55kg | Canexceed55kg | Canexceed55kg |
| BatteryVoltage | ≤48V | Norestriction | Norestriction |
| Productionqualification | None | Required | Required |
| Productqualification | 3Ccertification | 3CCertificationandinclusionintheMinistryofIndustryandInformationTechnology(MIIT)directory | 3CCertificationandinclusionintheMIITdirectory |
| Ridingqualification | None | Motorcycledriver’slicense | Motorcycledriver’slicense |
2.Electrictricycle
TheCompany'selectrictricycleproductsmainlyincludeleisureelectrictricycles,aswellascanopyelectrictricyclesandfreightelectrictricycles.TheCompany'sleisureelectrictricycleproductsnotonlymeetthediversetravelneedsofconsumersacrossvariousscenariosbutalsofurthershowcaseafashionablebrandpropositionthroughtheirdesignandcolorschemes.Intermsoffunctionalityandconfiguration,theyarebettertailoredtotheleisuretravelandschoolcommuteneedsofconsumergroupssuchasmothersandthemiddle-agedandelderly,garneringstrongconsumerappreciation.Thecanopyelectrictricyclesadoptautomotive-grademanufacturingprocessesinvehicledesignandproduction,offeringfunctionalityandstyle,furthersatisfyingconsumers'needsforcomfortandtravelundervariousweatherconditions.Thefreightelectrictricycles,whilebeingdurable,incorporatestylishelementstomeetthediverseneedsofconsumersacrossvariousapplicationscenarios.Inadditiontothemainproductsofelectrictwo-wheelersandtricycles,theCompanyalsoproduceslow-speedelectricfour-wheelers,bicycles,electric-assistedbicyclesandotherproducts.TheCompanyisalsocommittedtothedevelopmentofnewproductsandtheexplorationofnewbusinesses,focusingonthegreenshort-distancetravelecosystem.(III)OperationmodelTheCompanycentersitsbusinessaroundusers,continuouslydriveschangeandtransformation,andimplementscategoryinnovationandtechnologicalinnovation,strivingtobecomeaplatform-basedtechnologycompanythatprovidesgreenandconvenienttravelsolutions.Inrecentyears,theCompanyhascomprehensivelyupgradeditsproductlifecyclemanagementsystemthroughinformationtechnologyandadvancedmanagementtechniques,buildinganefficientdigitalproductimplementationchain,productdeliverychain,anduserservicechain,therebyenhancingtheCompany'soverallstrength.Intheproductdesignanddevelopmentsegment,theCompanysetsupvariousR&Dfunctionaldepartmentsorientedtowardsuserneeds.TheProductPlanningCenterisresponsibleforinsightintoconsumerdemandsandmarketresearch,deliveringproductconcepts;theTechnologyR&DHeadquarterscomprisesaProductManagementCenterandanEngineeringTechnologyDevelopmentCenter,theformertransformsproductconceptsintoproductstrategiesandmanagesproductsthroughouttheirlifecycletoensurecompetitivenessandachievebusinessgoals;Thelatteristhetechnicalimplementerofproductdevelopment,supportingthecommercialsuccessofproducts,andsimultaneouslyresponsiblefortheCompany'stechnologicalcapacitybuilding.Inrecentyears,theCompanyhasformedspecializedR&DteamsandestablishedanElectricalDevelopmentCenterundertheEngineeringTechnologyDevelopmentCenter,engagingintheR&Dandverificationofcoreandcutting-edgetechnologiesintheindustrysuchastriple-electricsystems,drivestheimplementationofR&Dprojectssuchastheupgradingandapplicationofintelligenttechnology,consumer-endsoftwareforvehiclenetworking,andnetworkedintelligenthardware.
Inthecomponentprocurementsegment,theCompanystrivestobuildanintegrated,adaptablesupplychainmanagementsystem.ItsetsupaSupplyChainManagementCenterandaBusinessUnitProcurementCenter,toselecthigh-qualitysuppliersandestablishcloseandfriendlylong-termsupplyrelationships.Inmanufacturingsegment,theCompanypossessesstrongcomprehensivemanufacturingandprocessdesigncapabilities.Currently,ithaseightproductionbaseslocatedinTianjin,Henan,Guangdong,Guangxi,Jiangsu,Chongqing,Zhejiang,andShandong,allofwhichhavesuccessivelyobtainedthe"WorldManufacturerIdentifier"certificatefromtheNationalDevelopmentandReformCommission.NewbasesinChongqing,Taizhou,Lishui,andGuigangareunderconstruction,andnewbasesinSoutheastAsiaareinpreparation.Thesenewbasesareplannedwithhighstartingpoints,withautomationandindustrialclusterconstructionasstandardconfigurations,whichareconducivetofurtherenhancingitscomprehensiveproductioncapacity.Buildinguponitsvehiclemanufacturingcapabilities,theCompanyalsopossessescapabilitiesforproducingand/ordevelopingseveralkeycomponents,includingchassis,spray-paintedparts,motors,andelectroniccontrols.Additionally,ithasestablisheditspresenceinfieldssuchasbatteries,handlebars,andfrontforks.Inthesalessegment,theCompanycarriesoutmarketingbasedonthedistributionmodel,underwhich,itinsistsonthevalueintegrationoffactoryanddealer.DealersarenotonlydirectcustomersoftheCompanybutalsoimportantwindowsthroughwhichtheCompanysellsproductstoconsumers,providesservices,andshowcasesitsbrandimage,makingthemimportantpartnersoftheCompany.TheCompanyhasestablishedacomprehensivedealermanagementsystem,empoweringdealersthroughoperationalsupport,trainingoutputs,specialservicesfromretailmanagers,precisepushofnewretailorderinformationandothers.Salestodealersgenerallyfollowapayment-before-deliverymodel.Inrecentyears,theCompanyhasactivelyexploredinnovativemanagementmodelfordealersandchannels,suchasimplementingtheoperatormodel,whereintheCompanydirectlymanagesitsretailoutlets.Next,theCompanyplanstopilotequitycooperationwithdealerstoenhancethemotivationeffectsondealers.Inthelogisticssegment,theCompanyhassetupadedicatedsmartlogisticscompany,focusingonimprovingdeliveryefficiency,logisticsquality,andservicequality.ThelogisticscompanyhascompletedtheintegrationoflogisticsresourcesfortheCompany'ssevenmajorproductionbasesandthreemajorcomponentindustryclusters,undertakingmostoftheCompany'svehicletransportationandcomponenttransportationservices,usingself-developedintelligentsystemstolinkthemainvaluechainsegmentsincludingsupply,manufacturing,sales,andservice.TheCompanyconnectsprocurement,manufacturing,andmarketingordersthroughitslogisticsmanagementsystem,establishingend-to-endvaluechainmanagementfromsupplierstofactoriestocustomers.Leveragingitsprimaryproductionbasesandthecomponentindustryclusters,theCompanyconstructsadomesticlogisticsnetworklayouttofurtherenhanceitscorecompetitiveness.
Intheservicesegment,tomeetthechangingneedsofuserstransitioningfromthe'eraofpurchasingvehicles'tothe'eraofusingvehicles',theCompanyhasestablishedadedicatedservicecompany,committedtocreatingafulllifecycleservicesystemincludingsales,maintenance,vehiclereplacement,inspection,leasing,andbatteryswapping.Relyingondistributionchannels,itsetsupstandardizedservicestores,providinguserswithefficientandhigh-qualityservices.Inthesharedoperationbusiness,theCompanyactivelyexploresandexpandsbusinessandoperatingmodelsrelatedtothegreenshort-to-mediumdistancetravelecosystem.Byleveragingitsstrengthsandresourcesinintegrateddesignandmanufacturing,informationsystems,channelnetworks,andoperationalplatforms,theCompanyhaslaunchedthedeploymentandoperationofsharedelectricbicycles,includingclosedandopenapplicationscenarios.
IV.AnalysisonCoreCompetitiveAdvantagesintheReportingPeriod
√Applicable?Notapplicable(I)Precisionproductdevelopmentandinnovationpositionedas"technologyandfashion"TheCompanyupholds"TechnologyandFashion"asitsbrandproposition,consideringtechnologicaladvancementandproductinnovationasthemainmeanstoenhanceitscorecompetitivenessandachievelong-termdevelopment.Intermsofproductdevelopment,centeringarounduserdemandsandprioritizingthecommercialvalueofproductsastheprimaryevaluationcriterion,theCompanyhasestablishedanintegratedproductdevelopmentprocesswithstrategicindividualproductsorproductlinesasprojectunits.Thisprocessinvolvesclosecollaborationandmutualinfluenceamongplanning,design,R&D,procurement,production,qualitymanagement,andmarketingfunctions.Itallowsforpreciseassessmentofuserdemandsandproductpositioning,andefficientlyandaccuratelycompletesproductrealization,deliveringmodelsthatpreciselymeetthetargetusergroup'sneedsunderthepredefinedquality,time,andcostconstraints.TheCompany'sindependentlydevelopedinnovativemodelshavewonseveralprestigiousawards,includingthe"AnnualInnovativeModel"and"AnnualFashionModel"fromtheChinaMotorcycleAnnualModelSelectionCommittee,andtheGoldMUSEAwardfromtheInternationalAwardsAssociate(IAA)intheUnitedStates.Intermsoftechnologyandcraftsmanship,theCompanyhasconsistentlyincreaseditsinvestmentinindependentR&Doffoundational,cutting-edge,andengineeringtechnologieswithintheindustry.Ithasbeencontinuouslyintroducingnewtechnologiesandmaterials,improvingexistingproductiontechnologiesandprocesses,therebyenhancingproductperformanceandaddedvalue.ThisstrategyservesasthecornerstonefortheCompanytomaintainitsleadingtechnologicalandproductcapabilities.Overtheyears,theCompanyhasdevelopedahighlyprofessionalandinfluentialR&Dteamwithintheindustry.AsofDecember31,2023,theCompanyhadover1,900patents,andseveralofitssubsidiarieshavebeencertifiedashigh-techenterprises.
Regardingfashionabledesign,theCompanyhasalwaysbeenatrendsetterintheindustryintermsofvehiclebodystyling,colorcoordination,andpainttexture.Itpossessesdiversecapabilitiesforfashiondesigninnovation,offeringawidevarietyofmodelsthatcatertodifferentconsumergroups'pursuitoffashionablelifestylesandpersonalexpression.Notably,theCompanyexcelsinfashioncolorinnovation;ithasestablishedanindustry-leadingelectrictwo-wheelerpopularcolorR&DbaseincollaborationwiththeauthoritativeChineseFashionColorAssociation,achievingvariousoriginaldesignresults.Italsohascollaboratedwithrenownedinternationalcolorinstitutionstostudyindustrycolortrendsandanalyzethecolorstoriesofitsproducts.Additionally,theCompanyactivelyassumesindustryresponsibilitiesandleveragesitsadvantagesinR&Dandtechnologytopromotethestandardizationofindustrytechnology.Ithaseitherledorparticipatedindraftingmorethanthirtynationalandindustrystandards,includingTechnicalRequirementsof“ChargerinElectricBicycle”,“MotorPerformanceTestingMethodsforElectricMotorcycleandElectricMoped”,“SafetyRequirementsofElectricMotorcycleandElectricMoped”and"TestMethodsforEnergyConsumptionRateandRangeofElectricMotorcyclesunderUserConditions”.Andithasbeenhonoredwiththe"AdvancedUnitinIndustryStandardizationWork"awardbytheNationalBicycleStandardizationTechnicalCommittee'sElectricBicycleSubcommittee.(II)AdvancedQualityControlSystemandSolidProductionTechnology,EnsuringStable,High-QualityProductOutputTheCompanyhasalwaysregardedtechnologicalresearchanddevelopmentandproductqualityasthecornerstone,continuouslyadvancingandoptimizingtheentirequalitycontrolsystem.Utilizingadvancedproductdevelopmentprocesses,theCompanyidentifiesqualityissuesandoptimizesdesignsthroughvirtualsimulationsanddatamodelingduringthedesignphase.Intheproductdevelopmentstage,theCompanyimplementsaclosed-loopqualitymanagementsystemfornewproducts,conductingstrictreviewsofeachqualitycheckpointaccordingtoitsstandards,andstrictlyprohibitsanymodelswithissuesfromenteringthemassproductionstage.TheCompanyenhancesreviewstandardsandrevisesandreplaytechniquestoimproveR&Defficiency.Inthecomponentconfigurationstage,theCompanyselectsleadingbrandsuppliersforcooperation,andconductsreasonablesupervisionofsupplierproductionprocessesthroughincomingmaterialinspection;throughprovidingtechnicalconsultationandmanagementassistance,theCompanycontinuouslyimprovesthequalitymanagementlevelsofitssuppliers.Intermsofmanufacturing,theCompanyimplementscomprehensive,real-timedynamicqualitymanagementthroughouttheentireprocess;italsoestablishesamarketqualitymanagementsystem,includingmechanismsforearlywarningofmarketfeedbackinformationandauditingofmarketqualityissues,whichallowsforpreciseandrapidfeedbackandimprovementofqualityissues.Forqualityinspections,theCompanyemploysa"five-inspectionsystem"consistingofinitialinspection,self-inspection,mutualinspection,spotinspection,andspecialinspectiononcompletevehicles;itcontinuouslyenhancestheself-testingcapabilitiesofcomponentsandthetestingcapabilitiesduringtheproductionprocess,implementingacombinationofpreventiveandinspectionmeasures.
TheCompany'sproductiontechnologyisrobust,inframeproduction,ithasintroducedadvancedCNCpipebendingmachines,fullyautomaticCNCmulti-functionallasercuttingequipment,andweldingrobots,enhancingproductionefficiency,framecuttingprecision,weldingquality,andproductquality.Intermsofpaintingtechnology,theCompanyhasestablishedadust-freepaintingworkshop;andutilizingtop-notchelectrophoretictechnologyandhigh-qualitypaintmaterials,andadoptinginternalandexternaldouble-layerpainting,theframestructurecanbeeffectivelycovered,enhancingitsresistancetoaging,corrosion,andotherpropertieswhileensuringproductaesthetics.Intermsofassemblyprocesses,theCompanyhasbeenutilizingfullyautomaticvisualpress-fitmachinesthatemployvisionrecognitiontechnologytocollectdataonthefirstprocedureonline,automaticallyrecognizingtheframenumbertobeusedasadatacarrierforonsitecirculationandtraceability.Atcriticalprocessesformotorsandcontrollers,datacollectionpointsandinformationdisplaypointshavebeenestablishedtoguidecorrecton-siteproductionoperationsstrictlyfollowingthe3Ccontrolstandards.Aftercompletevehiclespassthefinalinspectionpoints,barcodeinformationautomaticallycollectedbyindustrialbarcodereadersispushedtothecertificateprintingstation,triggeringtheautomaticprintingofcertificatesofconformity,consistencycertificates,andexternalboxcodes,reducinghumaninterventionandenhancingon-siteoperationalcapabilities.Drawinginspirationfromproductdevelopmenttestingmodelsintheautomotiveindustry,theCompanyhascreatedatestingprocessthathighlyalignswithitsproductdevelopmentflowandmanufacturingsystem,conductingcomprehensivetestingoncomponents,systems,andcompletevehiclestoensurethestableoutputofproductquality.TheCompanyhasestablishedwell-equippedtestingdepartmentsatvariousproductionbases,possessingover400typesoftestinginstrumentsandequipment,withover40technicianswhohaveundergoneISO/IECprofessionaltrainingandobtainedcertifications.Ninespecializeddepartmentshavebeensetup,includingageometricaldimensiontestingroom,completevehicleperformancetestlab,roaddurabilityroom,environmentaltestlab,materialsanalysisroom,electronicsandelectricaltestlab,mechanicalperformancetestlab,andcoretechnologytestlabsfor"fourelectrics"(battery,motor,electroniccontrol,andcharger)andanintelligenttestinglab.theCompanyhasthecapabilitiestotestelectrictwo-wheelers,three-wheelers,andsomelow-speedelectricfour-wheelers,andTestingTechnologyCenterofAimaTechnologyhasreceivedanaccreditationcertificatefromtheChinaNationalAccreditationServiceforConformityAssessment(CNAS).TheCompany’sproductshavebeensoldinthemarketforyears,continuouslyreceivingauthoritativerecognitionandhonorsforproductquality,includingthe"NationalQualityIntegrityBenchmarkEnterprise"awardedbytheChinaQualityInspectionAssociationandthe"AAAGradeEnterpriseCreditRatingCertificate"awardedbytheChinaUrbanTransportationAssociation.(III)BroadCoverageandHigh-EfficiencySalesChannelSystem
Intermsofofflinechannels,theCompanyactivelyimplementsaconsumerdemandorientedmarketingstrategy.Seizingthedevelopmentopportunitiesoftheelectrictwo-wheelermarketandleveragingthebrandinfluence,theCompanyhasvigorously
expandeditsdistributionchannels,forminganationwideofflinesalesnetworkthatachieveseconomiesofscaleandrapidexpansion.Adheringtothevalueintegrationofmanufactureranddealer,theCompanyhascontinuouslyrefineditsdistributormanagementsystemandframework,attractinghighlymarket-sharedandinfluentialdistributorsindistrict/countymarketstoestablishlong-termstrategicpartnerships.Throughyearsofongoingaccumulation,ithasbuiltaflatmarketingchannelsystembasedondistricts/counties,achievingbroadcoverageandhigh-efficiencyrelativecompetitiveadvantages.Intermsofonlinechannels,theCompanyhasdevelopedamulti-platformonlinechannelsystem,includingmajore-commerceplatformslikeTmall,JD.com,Douyin,Xiaohongshu,andKuaishou.Leveragingadigitalempowermentplatformandanationwideservicenetwork,theCompanyprovidescomprehensiveandconvenientshoppingexperiencesforonlineconsumersatalltimes.Additionally,incoordinationwithitsmarketingmeasures,onlinechannelsplayacriticalroleindrivingtrafficandacquiringnewcustomers.
(IV)High-Quality,High-Efficiency,andBroad-CoverageServiceNetwork
Afteryearsofoperationandaccumulation,theCompanyhasestablishedacomprehensiveservicenetworksystem,comprisingnationwideserviceoutlets,anefficientworkorderdispatchsystem,industry-leadingservicetimelinessandstandards,anefficientsparepartsstorageanddistributionsystem,aperformanceevaluationsystemquantifiedbyservicesatisfaction,andaprofessionalserviceteamwithclearlydefinedroles.Thehigh-qualityandefficientserviceiswell-receivedbyconsumersandhasalsogarneredhighrecognitionfromauthoritativeinstitutions,theNationalCommodityAfter-SalesServiceRatingCertificationReviewCommitteehasawardedtheCompanyafive-starratingforitstechnicalsupportandrepairservices”,andtheChinaCustomerContactCenterawardeditthe"CustomerWordofMouthAward”.Additionally,theCompanyparticipatedindraftingindustryself-regulatorynormssuchas"After-salesServiceSpecificationsforElectricBicycles"andledthedraftingof"After-salesServiceTimelinessSpecificationsforElectricBicycles",leadingthestandardizeddevelopmentofservicesintheindustry.
(V)YouthfulBrandingwithLeadingIndustryInfluence
With"TechnologyandFashion"asitsbrandproposition,basedonfashionable,tech-oriented,andhigh-qualityproducts,theCompanyconductsdeep-seatedbrandbuildingnationwide.Overyearsofoperation,accumulation,andinteraction,theAimabrandhasgainedwidespreadrecognitionandahighreputation,leadinginbrandinfluence.Inrecentyears,theCompanyhastakenaseriesofbrandactionstoaligntheAimabrandwiththeneeds,values,andlifestylesofyoungconsumers,creatingabrandimageandexperiencecloselyconnectedwiththem.Tomeettheconsumptiondemandsofyounggroupsforfashionable,innovativeproducts,theCompanyhaslaunchedvarioustrendymodelsandenhancedtheintelligentfunctionsofproducts.Ithasrefreshedthebrandinlinewithyoungpeople’saestheticandtastepreferences,includingbutnotlimitedtocollaboratingwiththeinternationallyrenowneddesignerRobJanoff(designeroftheApple
logo)forahigh-endupgradeofthebrandlogo,launchingthebrandslogan"FashionableAima,ComfortableTravel”,upgradingterminalstoreswithastylishtouchandopeningwomen-exclusivefashionstores,andworkingwithwell-knowninternationalcolorinstitutionsforcolorempowermentofproducts.TheCompanyrespectsthepopularculturebelovedbyyounggroupsandhasplanedbrandandmarketingactivitiesaroundthistheme:sponsoringpopularvarietyshows,signingyoungidolsasbrandfashionambassadors,collaboratingwithfashion-influentialmagazinesforbigshootsofAimamodels,andconductingcross-brandcollaborationswithpopularIPs,hotgames,andwell-knownbrands,creatinganAimapromotionalmatrixonsocialmediaplatformsfavoredbyyounguserslikeBilibiliandXiaohongshu.InteractivebrandactivitieshavebeenconductednotonlytomotivateyoungconsumergroupstoparticipateinpromotingtheAimabrandbutalsotointegratetheAimabrandintothelifestyleofyoungconsumers:
organizingtheAimaStar-ChasingMusicFestival,organizingeventsrelatedtoesportsandanimeinuniversities,holdingDIYcreativecontestsoncampuses,etc.TheCompanyhasbeenimplementingtheconceptofenvironmentalprotectionandsustainabledevelopment,demonstratingitsbrandresponsibilityandgainingtheapprovalandemotionalresonanceofyoungpeopleforcollectiveeffortstoprotectourplanet.ThequalificationsandhonorsobtainedbytheCompanyinbrandbuildingincludeChinaWell-knownTrademarkcertification,toppingtheChinaBrandPowerIndex(C-BPI)forelectricbicyclesformorethantenconsecutiveyearspublishedbyChnbrand.Inrecentyears,theCompany'seffortsinyouthfulbrandinghavebeenremarkablysuccessful,gainingwidespreadrecognitionandwinningseveralawardsforfashionbrandinnovation,suchastheFashionLeadershipEnterpriseAwardandtheFashionBrandInnovationAwardatthe2023InternationalScienceandInnovationFestival,multipleintegratedmarketingawardsatthe30thChinaInternationalAdvertisingFestival,andseveralawardsatthe13thand14thTigerRoaringFestivalforitsinnovativemarketingsolutions.(VI)LeanManagementforCostAdvantages
TheCompanyhasestablishedanend-to-endcostmanagementsystem,fullytappingintocost-savingandefficiency-enhancingopportunitiesacrossallaspectsofthebusinessoperations,includingresearch,supply,manufacturing,sales,andservices.Ithasbeenexecutingsystematic,detailedmanagementacrossallbusinessprocessesandextendingthisapproachintotheverticalindustrialchaintoachievecomprehensivevalueenhancement.Byimplementingaproduct-focusedstrategy,theCompanyhassuccessfullyreducedproductSKUsandresourceusagethroughprecisedevelopment,therebyboostingthereturnoninvestmentforvehiclemodelsandtheefficiencyofindividualproducts.Utilizingdigitaltools,theCompanyenablesinformationsharingthroughouttheindustrialchain,accuratelyassessescustomerdemandsandmarkettrendstoimprovethesuccessrateofproductdevelopmentandtheaccuracyofsalesplanning,whichoptimizesresourceallocationandminimizesthewasteofresourcescausedbyunsoldinventory.TheCompanyconsolidatesprocurementvolumesthroughintegratedproductionplanningandcentralizedprocurement,whilesimultaneouslyenhancingtheprocurementvolumeofstandardandcommonpartsthroughcomponentplatformizationandmodularization,thuselevatingsupplychainefficiencythroughscaling
andimprovingqualitywhilereducingcosts.Itguidestheentireindustrychaintoimplementautomationandinformatizationupgrades,applynewmaterials,newprocesses,oroperatenewsystems,forenhancingtheproductionefficiencyoftheentireindustrychain.Anefficientintelligentlogisticsplatformhasbeenestablished,integratingresourcesandeffectivelyreducingthetransportationcostsoftheCompany’scompletevehiclesandcomponentsprocurement.Throughfull-processclosed-loopleanmanagementinitsoperations,theCompanyhasdevelopedastrongcompetitiveadvantageintermsofcost.
(VII)Digitalandsmartmanagementsystemwithfullempowermentandefficiencyimprovement
TheCompanyhasimplementedthe"361DigitalizationProject"strategy,leadingtheCompany'sdigitaltransformationandconstructingadigitalmanagementsystemthathighlyalignswithitsorganizationalstructureandbusinessprocesses,therebyfullyempoweringallbusinessareas.TheCompanyhasdevelopedadigitalmarketingsystemcenteredaroundretailandcoveringtheentiremarketingworkflow,achievingseamlessintegrationfromtheenterprisemarketingsystemtothedealerstoreterminals,facilitatingcomprehensiveonlineoperationsfordealers,fosteringefficientcollaboration.Leveragingdata,models,andalgorithms,theCompanyhasenhancedpredictivecapabilities,guidingdealerorderingplansandinternalproductionschedules,significantlyimprovingefficiency.Additionally,theCompanyhasestablishedanAima-ownedtrafficpool,advancingauser-centricoperationalframework.Withplanningasaguidingprincipleandleveragingdatainsights,theCompanyhascomprehensivelybeenanalyzingbusinessexecution,drivingintegratedresearch,production,supply,marketing,andservices.Throughuseranalysisandresearch,preciseplanning,forwarddevelopment,leanmanufacturing,andintegratedlogistics,customerneedscouldbemetpromptly.Byrefiningoperations,integratingbusinessandfinance,andcontrollingbudgetscomprehensively,theCompanyhasestablishedcoreindicatorsandperformancesystemsacrossallareas,enablingtimelyandefficientoperationalreviewsanddata-drivendecision-making,reducingcostsandenhancingefficiency,whichmarksthepreliminaryrealizationoftheCompany'sglobalinformatization,operationaldigitization,executionautomation,andintelligentdecision-making.
(VIII)TalentTeamwithHighLoyaltyandProfessionalism
Upholdingthetalentmanagementphilosophyof"showingrespectforourstaff,improvingtheircompetenceandmakingthemhappy”,theCompanyhasestablishedahumanresourcesmanagementsystemcenteredontalentdevelopmentandtheenhancementofhumancapital.Thissystemincludesanattractivecompensationandincentivescheme,multifacetedcareeradvancementpathways,aprofessionaltalenttrainingsystem,comprehensiveemployeewelfareprograms,andaninclusiveandcreativecorporateculture,makingtheCompanyaplatformforthedevelopmentofmotivatedindividuals.Focusedonthetalentexperience,ithasbeencontinuouslyenhancingemployees'happiness,senseofbelonging,professionalskills,andcareerethics,creatingateamcharacterizedbyhighloyaltyandprofessionalism.
Adheringtothephilosophyof"effortandbenefitfromthesamesource”,basedonmedium-tolong-termstrategicobjectivesandanchoredonvaluecreation,theCompanyhassetperformanceevaluationindicators,valuedistributionmechanisms,promotionsystems,andtrainingframeworksthatalignwithvaluecreation,strengtheningtheroleoforganizationaldevelopmentandpersonalgrowthinperformanceassessmentsandvaluedistribution.Ithasbeencontinuallyrefiningtheshortterm,medium-and-longtermincentivemodelsandhonorsystemsforemployeesatalllevels.Forcoremanagement,technical,andbusinesstalents,ithasestablishedacompetitive,scientificallyrationalcompensationmanagementsystemandincentivemeasures,includingmulti-level,normalizedstockincentivemechanisms,maximallyaligningtheinterestsofshareholders,theCompany,andthecoreteam.Currently,therestrictedstockincentiveplanfor2021hascompletedthereleaseofrestrictionsfortheinitialphase,andthestockincentiveeffortsfor2023and2024areproceedingsmoothly.V.MajorOperationSituationDuringtheReportingPeriodInthereportingperiod,theCompanyrecordedrevenueofRMB21,036.1209million,representingayear-on-yearincreaseof1.12%,thenetprofitattributabletoshareholdersofthelistedcompanyofRMB1,881.1158million,representingayear-on-yearincreaseof
0.41%,andthenetprofitdeductingnon-recurringgainsorlossesattributabletoshareholdersofthelistedcompanyofRMB1,764.4680million,representingayear-on-yeardecreaseof1.83%.(I)Analysisonprincipalbusiness
1.Analysistableofchangesinprofitandlossstatementandcashflowstatementaccounts
Unit:Yuan(RMB)
| Items | Amountofthecurrentyear | Amountoflastyear | Change(%) |
| Revenue | 21,036,120,862.29 | 20,802,212,994.46 | 1.12 |
| Costofsales | 17,562,865,946.73 | 17,398,502,632.36 | 0.94 |
| Sellingexpenses | 641,208,788.04 | 587,315,848.35 | 9.18 |
| Administrativeexpenses | 474,276,849.74 | 432,777,222.67 | 9.59 |
| Financialexpenses | -410,276,786.83 | -382,697,297.50 | N/A |
| R&Dexpenses | 589,467,221.52 | 506,685,038.01 | 16.34 |
| Netcashflowsfromoperatingactivities | 1,864,276,233.90 | 5,051,454,116.94 | -63.09 |
| Netcashflowsfrominvestingactivities | -1,910,192,713.51 | -2,178,319,161.48 | N/A |
| Netcashflowsfromfinancingactivities | 544,548,901.86 | -182,243,777.55 | N/A |
Reasonsforthechangesinrevenue:ThiswasprimarilyduetotheCompany'sfocusonitscorebusinessandcontinuousexploitationofitsbrandadvantages,whichledtoaslightincreaseinoperationalperformance.
Reasonsforthechangesincostofsales:Theincreasewasmainlyattributedtochangesinthescaleofsales,whichgrewintandem.Reasonsforthechangesinsellingexpenses:Thiswasprimarilyduetomarketcompetition,promptingtheCompanytoexpanditssalesteamandincreasemarketingandpromotionalinvestments.Reasonsforthechangesinadministrativeexpenses:Theincreasewasmainlyduetohigherexpendituresonprofessionalconsultingservicesandanincreaseintheamortizationofinformationsystemsduringthereportingperiod.Reasonsforthechangesinfinancialexpenses:ThiswasprimarilyduetoanincreaseintheaveragescaleoffundsmanagedbytheCompanyduringthereportingperiod,resultinginincreasedinterestincome.ReasonsforthechangesinR&Dexpenses:ThiswasmainlyduetotheexpansionoftheR&Dteam,increasedinvestmentinR&D,andhigherdepreciationandamortizationofR&Dequipment.Reasonsforthechangesinnetcashflowsfromoperatingactivities:Thechangewasmainlyduetotheeffectsofsettlementcyclesandmethods,withpaymentsforpurchasesfromthepreviousyearincreasingyear-on-yearduringthereportingperiod.Reasonsforthechangesinnetcashflowsfrominvestingactivities:Thechangewasprimarilyduetoayear-on-yeardecreaseinthenetamountoflow-riskfinancialproductspurchasedandredeemedduringthereportingperiod.Additionally,therewasanincreaseinthepurchaseoflandfortheconstructionofproductionbasesinTaizhou,Lishui,andChongqing,aswellasincreasedinvestmentintheconstructionoftheseproductionbases.Reasonsforthechangesinnetcashflowsfromfinancingactivities:ThechangewasprimarilyduetotheCompanyraisingfundsthroughtheissuanceofconvertiblebondsduringthereportingperiod.Therewasalsoanincreaseincashdividendpayoutsundertheequitydistributionforthefiscalyear2022andthefirsthalfof2023.Furthermore,theCompanyrepurchasedsharesusingcashasconsiderationthroughcentralizedcompetitivebidding.DetaileddescriptionofmajorchangesoftheCompanyinbusinesstype,profitmakeuporprofitsource?Applicable√Notapplicable
2.Analysisonrevenueandcostofsales
√Applicable?NotapplicableInthereportingperiod,theCompanyrecordedrevenueofRMB21,036.1209million,representingayear-on-yearincreaseof1.12%,andcostofsalesofRMB17,562.8659million,representingayear-on-yearincreaseof0.94%,astheCompanyachievedperformancegrowthbyfocusingonitscorebusiness,andcontinuallyleveragingitsbrandadvantages.
(1)Principleoperatingactivitiesbyindustry,product,regionandsalesmodel
Unit:Yuan(RMB)
| Principaloperatingactivitiesbyindustry | ||||||
| Byindustry | Revenue | Costofsales | Grossprofitmargin(%) | Revenueincreased/decreasedyoy(%) | Costofsalesincreased/decreasedyoy(%) | Grossprofitmarginincreased/decreasedyoy(%) |
| Railway,ship,aerospaceandothertransportequipmentmanufactureindustries | 20,873,852,542.77 | 17,455,112,116.87 | 16.38 | 1.01 | 0.82 | Increasedby0.16percentagepoints |
| Principaloperatingactivitiesbyproduct | ||||||
| ByProduct | Revenue | Costofsales | Grossprofitmargin(%) | Revenueincreased/decreasedyoy(%) | Costofsalesincreased/decreasedyoy(%) | Grossprofitmarginincreased/decreasedyoy(%) |
| Electricbicycles | 12,845,051,545.51 | 10,716,325,781.16 | 16.57 | 5.85 | 6.44 | Decreasedby0.46percentagepoints |
| Electrictwo-wheelmotorcycles | 5,805,939,521.09 | 4,949,033,049.25 | 14.76 | -18.72 | -18.38 | Decreasedby0.35percentagepoints |
| Electrictricycles | 1,434,642,114.17 | 1,124,810,467.69 | 21.6 | 79.9 | 69.12 | Increasedby5percentagepoints |
| Saleofparts | 647,500,389.13 | 546,135,523.69 | 15.65 | 10.44 | 6.59 | Increasedby3.05percentagepoints |
| Others | 140,718,972.87 | 118,807,295.08 | 15.57 | 4,288.41 | 4,006.55 | / |
| Principaloperatingactivitiesbyregion | ||||||
| Byregion | Revenue | Costofsales | Grossprofitmargin(%) | Revenueincreased/decreasedyoy(%) | Costofsalesincreased/decreasedyoy(%) | Grossprofitmarginincreased/decreasedyoy(%) |
| NortheastChina | 482,866,250.03 | 402,386,119.43 | 16.67 | -6.64 | -8.61 | Increasedby1.8percentagepoints |
| EastChina | 7,540,385,944.82 | 6,272,969,613.19 | 16.81 | -9.66 | -9.3 | Decreasedby0.33percentagepoints |
| NorthChina | 2,419,855,674.03 | 2,053,560,786.87 | 15.14 | -10.74 | -10.55 | Decreasedby0.17percentagepoints |
| CentralChina | 3,448,516,766.05 | 2,865,686,574.69 | 16.9 | 15.66 | 13.25 | Increasedby1.77percentagepoints |
| SouthChina | 3,322,441,009.23 | 2,836,707,004.72 | 14.62 | -4.74 | -2.55 | Decreasedby1.92percentagepoints |
| SouthwestChina | 1,890,904,494.15 | 1,559,442,029.99 | 17.53 | 27.75 | 23.6 | Increasedby2.77percentagepoints |
| NorthwestChina | 1,476,370,151.18 | 1,229,102,090.86 | 16.75 | 83.15 | 81.4 | Increasedby0.81percentagepoints |
| Overseas | 226,073,213.37 | 181,322,394.70 | 19.79 | 2.21 | 3.85 | Decreasedby1.27percentagepoints |
| Undefinedregion | 66,439,039.91 | 53,935,502.42 | 18.84 | -41.43 | -48.67 | Increasedby11.45percentagepoints |
| Principaloperatingactivitiesbysalesmode | ||||||
| Salesmodel | Revenue | Costofsales | Grossprofitmargin(%) | Changeofrevenuecomparedwithlastyear(%) | Changeofcostofsalescomparedwithlastyear(%) | Changeofgrossprofitmargincomparedwithlastyear(%) |
| Distribution | 20,193,471,412.47 | 16,882,068,262.53 | 16.4 | 1.25 | 1.2 | Increasedby0.04percentagepoints |
| Directsales | 680,381,130.30 | 573,043,854.34 | 15.78 | -5.58 | -9.13 | Increasedby3.30percentagepoints |
Descriptionofprincipaloperationbyindustry,product,region,salesmodel
①Descriptionofrevenueandcostofsalesofprincipaloperationbyindustry:Duringthereportingperiod,theCompanyfocusedonitscorebusinessandcontinuouslyleverageditsbrandadvantages,resultinginaslightincreaseinoperationalperformance.
②Descriptionofprincipaloperationbyproduct:Duringthereportingperiod,salesoftheCompany'smainproduct,electricbicycles,experiencedaslightincrease;however,salesofelectrictwo-wheelmotorcyclesdeclinedyear-on-yearduetomarketcompetitionandconsumerhabits.Demandforelectrictricyclesshowedatrendofacceleratedgrowth;duetotheacquisitionofGelingNewEnergy,thecombinedrevenuefromtheothershort-distancetransportationproductssignificantlyincreased.
③Descriptionofprincipaloperationbyregion:TheCompanyactivelyexpandeditsbusinesschannelsandadjustedthebalanceofitsmaindomesticsalesregions.
④Descriptionofprincipaloperationbysalesmodel:TheCompanyprimarilyoperatesthroughadealershipmodel,whichhasledtoaslightincreaseinoperationalperformance.
(2)ProductionandSalesAnalysisTable
√Applicable?Notapplicable
| Mainproduct | Unit | Productionvolume | Salesvolume | Inventory | Productionvolumeincreased/decreasedyoy(%) | Salesvolumeincreased/decreasedyoy(%) | Inventoryincreased/decreasedyoy(%) |
| Electricbicycles | Set | 7,529,192 | 7,603,011 | 206,420 | 3.73 | 5.06 | -26.34 |
| Electrictwo-wheelmotorcycles | Set | 2,673,154 | 2,686,623 | 63,499 | -17.86 | -17.83 | -17.5 |
| Electrictricycles | Set | 429,377 | 426,727 | 16,974 | 62.97 | 63.22 | 18.5 |
| Others | Set | 26,242 | 25,108 | 1,803 | 1,178.85 | 428.03 | 29,950.00 |
| Total | Set | 10,657,965 | 10,741,469 | 288,696 | -1.12 | -0.29 | -22.3 |
DescriptionofproductionandsalesvolumesDuringthereportingperiod,theCompanysawaslightyear-on-yearincreaseinelectricbicyclesales;electrictwo-wheelmotorcyclesexperiencedadeclineduetomarketcompetitionandconsumerhabits;electrictricyclessawstrongmarketdemandandgoodsales;duetotheacquisitionofGelingNewEnergy,therewasasignificantincreaseinthecombinedproduction,sales,andinventoryoftheothershort-distancetransportationproducts.TheCompanymaintainedstableproductionandinventorylevelsandadjustedamongdifferentproductcategoriesbasedonmarketorders.
(3)Performanceofmajorpurchasingcontracts,majorsalescontracts?Applicable√Notapplicable
(4)CostAnalysisTable
Unit:Yuan
| Byindustry | ||||||
| Byindustry | Costcomponents | Currentperiodamount | Percentageoftotalcoststhisperiod(%) | Amountinsameperiodlastyear | Percentageoftotalcostslastyear(%) | Changeinamountcomparedtosameperiodlastyear(%) |
| Railway,ship,aerospaceandothertransportequipmentmanufactureindustries | Directmaterials | 16,586,622,787.13 | 95.02 | 16,498,119,094.70 | 95.3 | 0.54 |
| Directlaborandmanufactureexpenses | 868,489,329.74 | 4.98 | 814,505,577.87 | 4.7 | 6.63 | |
| Total | 17,455,112,116.87 | 100 | 17,312,624,672.57 | 100 | 0.91 | |
| Byproduct | ||||||
| Byproduct | Costcomponents | Currentperiodamount | Percentageoftotalcoststhisperiod(%) | Amountinsameperiodlastyear | Percentageoftotalcostslastyear(%) | Changeinamountcomparedtosameperiodlastyear(%) |
| Electricbicycle | Directmaterials | 10,082,063,221.06 | 57.76 | 9,482,221,123.11 | 54.77 | 6.33 |
| Directlaborandmanufactureexpenses | 634,262,560.11 | 3.63 | 586,195,389.63 | 3.39 | 8.2 | |
| Sub-total | 10,716,325,781.17 | 61.39 | 10,068,416,512.74 | 58.16 | 6.44 | |
| Electrictwo-wheelmotorcycle | Directmaterials | 4,817,702,122.37 | 27.6 | 5,888,168,560.03 | 34.01 | -18.18 |
| Directlaborandmanufactureexpenses | 131,330,926.88 | 0.75 | 175,662,117.65 | 1.01 | -25.24 | |
| Sub-total | 4,949,033,049.25 | 28.35 | 6,063,830,677.68 | 35.03 | -18.38 | |
| Electrictricycle | Directmaterials | 1,032,422,131.34 | 5.91 | 612,745,321.52 | 3.54 | 68.49 |
| Directlaborandmanufactureexpenses | 92,388,336.35 | 0.53 | 52,362,529.15 | 0.3 | 76.44 | |
| Sub-total | 1,124,810,467.69 | 6.44 | 665,107,850.67 | 3.84 | 69.12 | |
| Others | Directmaterials | 108,299,788.67 | 0.62 | 2,607,577.70 | 0.02 | 4,053.27 |
| Directlaborandmanufactureexpenses | 10,507,506.40 | 0.06 | 285,541.45 | 0 | 3,579.85 | |
| Sub-total | 118,807,295.07 | 0.68 | 2,893,119.15 | 0.02 | 4,006.55 | |
| Saleofparts | Directmaterials | 546,135,523.69 | 3.14 | 512,376,512.33 | 2.96 | 6.59 |
| Total | 17,455,112,116.87 | 100 | 17,312,624,672.57 | 100 | 0.82 | |
Descriptionofothersituationsincostanalysis
Duringthereportingperiod,theoverallcoststructureoftheCompany'smainproductsremainedstable,withnosignificantchanges.
(5)Changesinthescopeofconsolidationduetochangesinshareholdingsofmajorsubsidiariesduringthereportingperiod?Applicable√Notapplicable
(6)MajorchangesintheCompany'sbusiness,products,orservicesduringthereportingperiod,oranyrelevantadjustments?Applicable√Notapplicable
(7)MajorcustomersandmajorsuppliersA.MajorcustomersoftheCompany
√Applicable?NotapplicableThetotalsalesamounttothetopfivecustomerswasRMB1,399.6965million,accountingfor6.65%oftheannualsalesamount.Amongthesalestothetopfivecustomers,theamountofsalestotherelatedpartieswasnil,accountingfor0%oftheannualsalesamount.Inthereportingperiod,thecircumstancethatsalesratiotosinglecustomerexceeded50%oftotalamount,therewerenewcustomersintopfivecustomersoritseriouslyreliedonminoritycustomers?Applicable√NotapplicableB.MajorsuppliersoftheCompany
√Applicable?NotapplicableThetotalpurchasingamountfromthetopfivesupplierswasRMB6,124.1322million,accountingfor37.45%oftheannualpurchasingamount.Amongthepurchasefromthetopfivesuppliers,theamountofpurchasefromtherelatedpartieswasnil,accountingfor0%oftheannualpurchases.Inthereportingperiod,thecircumstancethatpurchasingratiofromsinglesupplierexceeded50%oftotalamount,therewerenewsuppliersintopfivesuppliersoritseriouslyreliedonminoritysuppliers?Applicable√Notapplicable
3.Expenses
√Applicable?Notapplicable
| Expenseitem | Currentyear | Prioryear | Change(%) | Reasonsforchanges |
| Sellingexpenses | 641,208,788.04 | 587,315,848.35 | 9.18 | Mainlyduetomarketcompetition,theCompanyexpandeditssalesteamandincreasedinvestmentinmarketingandpromotion. |
| Administrativeexpenses | 474,276,849.74 | 432,777,222.67 | 9.59 | Mainlyduetoincreasesinprofessionalconsultingserviceexpensesandamortizationofinformationsystemsduringthereportingperiod. |
| Financialexpenses | -410,276,786.83 | -382,697,297.50 | N/A | MainlyduetotheincreaseintheaveragefundsizemanagedbytheCompanyduringthereportingperiod,resultinginhigherinterestincome. |
| R&Dexpenses | 589,467,221.52 | 506,685,038.01 | 16.34 | MainlybecausetheCompanyexpandeditsR&Dteam,increasedR&Dinvestments,andsawhigherdepreciationandamortizationofR&Dequipment |
4.R&Dexpenditure
(1).TableofR&Dexpenditure
√Applicable?Notapplicable
Unit:Yuan
| Researchanddevelopmentinputexpensedincurrentperiod | 589,467,221.52 |
| Researchanddevelopmentinputcapitalizedincurrentperiod | 0 |
| Totalofresearchanddevelopmentinput | 589,467,221.52 |
| RatiooftotalR&Dinputinrevenue(%) | 2.8 |
| RatioofcapitalizationofR&Dinput(%) | 0 |
(2).TableofR&DPersonnel
√Applicable?Notapplicable
| QuantityofR&DpersonneloftheCompany | 1,089 |
| RatioofR&DpersonnelinstaffoftheCompany(%) | 11.49 |
| EducationalstructureofR&Dpersonnel | |
| Categoryofeducationalstructure | Peopleineducationalstructure |
| Doctorate | 3 |
| Masterdegree | 21 |
| University | 429 |
| Juniorcollege | 364 |
| Highschoolandbelow | 272 |
| AgestructureofR&Dpersonnel | |
| Categoryofagestructure | Peopleinagestructure |
| Below30(exclusive) | 346 |
| 30-40(inclusive30,exclusive40) | 545 |
| 40-50(inclusive40,exclusive50) | 159 |
| 50-60(inclusive50,exclusive60) | 39 |
| Above60 | 0 |
(3).Descriptionofsituation?Applicable√Notapplicable
(4).ReasonsofmajorchangeaboutR&DpersonnelstructureandimpactonfuturedevelopmentoftheCompany?Applicable√Notapplicable
5.Cashflows
√Applicable?Notapplicable
| Cashflowitem | Currentyear | Prioryear | Change(%) | Descriptionofchangereasons |
| Netcashflowsfromoperatingactivities | 1,864,276,233.90 | 5,051,454,116.94 | -63.09 | Primarilyduetotheimpactofthesettlementcycleandmethod,paymentsforlastyear'sprocurementincreasedyear-on-yearduringthereportingperiod. |
| Netcashflowsfrominvestingactivities | -1,910,192,713.51 | -2,178,319,161.48 | N/A | Duringthereportingperiod,thedecreaseintheyear-on-yeardifferenceinpurchasingandredeeminglow-riskfinancialproductsandincreasedinvestmentsinlandandconstructionfortheTaizhou,Lishui,andChongqingproductionbasesweretheprimaryfactors. |
| Netcashflowsfromfinancingactivities | 544,548,901.86 | -182,243,777.55 | N/A | Duringthereportingperiod,theCompanyraisedfundsbyissuingconvertiblebonds,increasedcashdividendpayoutsforthe2022annualand2023interimequitydistributions,andrepurchasedsharesthroughcentralizedbiddingusingcash. |
(II)Descriptionofmajorchangesinprofitcausedbynon-principalbusinesses?Applicable√Notapplicable(III)Analysisonassetsandliabilities
√Applicable?Notapplicable
1.Assetsandliabilities
Unit:Yuan
| Item | Closingbalanceofcurrentyear | Percentageofclosingbalanceofcurrentyearintotalassets(%) | Closingbalanceoflastyear | Percentageofclosingbalanceoflastyearintotalassets(%) | Year-on-yearChange(%) | Descriptionofchange |
| Prepayments | 36,627,883.96 | 0.18 | 17,554,574.37 | 0.10 | 108.65 | Theprimaryreasonwastheincreaseinprepaidadvertisingexpenses. |
| Otherreceivables | 15,687,906.27 | 0.08 | 28,051,920.26 | 0.15 | -44.08 | Thiswasmainlyduetoadecreaseinreceivablesforsupplierwarrantiesandanincreaseinproceedsfromthedisposaloffixedassets. |
| Othercurrentassets | 119,888,220.69 | 0.60 | 77,023,491.16 | 0.42 | 55.65 | ThisstemmedfromanincreaseintheinputtaxcreditduetotheCompany'spurchaseoffixedassets. |
| Non-currentassetsduewithinoneyear | 1,628,460,684.93 | 8.19 | 3,524,708,328.77 | 19.08 | -53.80 | Theprimaryreasonwastherecoveryoftimedepositsduetomaturewithinayearattheperiod'send. |
| Constructioninprogress | 992,205,279.91 | 4.99 | 86,011,318.10 | 0.47 | 1,053.58 | ThiswasmainlyduetoincreasedinvestmentintheconstructionoftheTaizhou,Guangxi,Lishui,andChongqingproductionbasesduringthereportingperiod. |
| Intangibleassets | 715,925,849.18 | 3.60 | 457,986,772.95 | 2.48 | 56.32 | ThiswasprimarilyduetothepurchaseofconstructionlandfortheTaizhou,Lishui,andChongqingproductionbases. |
| Deferredtaxassets | 167,938,840.75 | 0.84 | 84,023,263.65 | 0.45 | 99.87 | Thiswasmainlybecausethetaxdiscrepancyfromtheearningsonfinancialproductsdecreasedattheendofthereportingperiod. |
| Othernon-currentassets | 5,762,625,958.57 | 28.97 | 3,809,089,833.43 | 20.62 | 51.29 | ThisresultedfromtheCompany'sadditionalpurchasesofthree-yeartermdepositsduringthereportingperiod. |
| Short-termborrowings | 511,250,000.00 | 2.77 | -100 | Thiswasduetotherepaymentofmatureddiscountnoteloansduringthereportingperiod. | ||
| Non-currentliabilitiesduewithinoneyear | 17,568,122.60 | 0.09 | 5,682,224.67 | 0.03 | 209.18 | Thiswasduetoanincreaseinbondspayableandleaseliabilitiesmaturingwithinayear. |
| Bonds | 1,644,65 | 8.27 | N/A | Thisstemmedfromthe |
| payable | 0,128.51 | issuanceofconvertiblebondsduringthereportingperiod. | ||||
| Deferredincome | 292,432,400.56 | 1.47 | 198,066,664.29 | 1.07 | 47.64 | Thiswasduetoanincreaseingovernmentgrantsrelatedtoassetsreceivedduringthereportingperiod. |
| Equity | 861,925,007.00 | 4.33 | 574,700,004.00 | 3.11 | 49.98 | ThemainreasonwastheCompany'scapitalreservebeingconvertedtoincreasedsharecapitalduringthereportingperiod. |
| Otherequityinstruments | 432,645,369.56 | 2.17 | N/A | Thiswasbecauseofanincreaseintheequityportionofconvertiblebondsissuedduringthereportingperiod. | ||
| Treasurystock | 481,505,173.88 | 2.42 | 134,953,200.00 | 0.73 | 256.79 | ThisresultedfromtheCompany'ssharerepurchaseduringthereportingperiod. |
| Surplusreserves | 430,962,503.50 | 2.17 | 290,784,296.91 | 1.57 | 48.21 | Thiswasduetotheparentcompany'ssustainedprofitabilityandtheincreasedprovisionforsurplusreserves. |
| Othercomprehensiveincome | 268.34 | 0.000001 | N/A | Thiswasbecauseofincreasedforeigncurrencytranslationdifferencesforoverseassubsidiariesattheendofthereportingperiod. | ||
| Minorityshareholders'equity | 68,034,244.29 | 0.34 | 13,145,608.02 | 0.07 | 417.54 | ThiswasduetotheinclusionofGelingNewEnergywithintheconsolidationscope,increasingminorityinterestandprofitsofthesubsidiaryAimaLogistics. |
2.Informationofoverseasassets
√Applicable?Notapplicable
(1)AssetScaleAmongthem,overseasassetsamountto57,463,879.61yuan(unit:RMB),accountingfor
0.29%ofthetotalassets.
(2)Explanationofhighproportionofoverseasassets
□Applicable√NotApplicable
3.Restrictionsonmajorassetsasoftheendofreportingperiod
√Applicable?Notapplicable
| Item | Closingbookvalue | Restrictionreason |
| Currencyfunds | 628,724,982.33 | Pledgedasbillguaranteedeposits |
| Othernon-currentassets | 4,831,970,833.33 | Pledgedforissuingbankacceptancebills |
| Non-currentassetsduewithinoneyear | 1,500,000,000.00 | Pledgedforissuingbankacceptancebills |
| Total | 6,960,695,815.66 | / |
4.Otherdescriptions?Applicable√Notapplicable(IV)Analysisonindustrialoperationinformation?Applicable√Notapplicable(V)AnalysisoninvestmentstatusOverallanalysisonexternalequityinvestment
√Applicable?NotapplicableAsofDecember31,2023,thebalanceoftheCompany'slong-termequityinvestmentswas127,264,000RMB,withthebalanceatthebeginningofthisreportingperiodbeing128,152,100RMB,achangeratioof-0.69%duringthereportingperiod.Themainchangesinexternalequityinvestmentsduringthereportingperiodareasfollows:①TheCompanysubscribedtoaportionoftheequityofGuangxiNingfubycontributing51,785,700RMBasanincreaseincapital,owning1.97%ofGuangxiNingfu'sequityasoftheendofthereportingperiod.②TheCompanyinvested17,500,000RMBtogetherwithTianjinShengyuanInvestmentGroupCo.,Ltd.toestablishChongqingXintai,holdinga35.00%equitystake.③TheCompanypurchasedan11.00%equitystakeinGelingNewEnergyfromTaizhouYuanpingziElectromechanicalTechnologyCo.,Ltd.for9,554,800RMB.Aftertheacquisition,theCompanyhelda60.01%equitystake,andGelingNewEnergywasincludedintheconsolidationscope.
1.Majorequityinvestments?Applicable√Notapplicable
2.Majornon-equityinvestments
√Applicable?Notapplicable
(1)GuigangProductionBaseInJuly2022,theCompanyheldthe28thMeetingoftheFourthBoardofDirectors,whichapprovedtheproposaltosignanInvestmentAgreementwiththeGuigangMunicipalPeople'sGovernment.TheCompanyagreedtoatotalinvestmentofapproximately1.15
billionRMBfortheconstructionoftheAimaSmartTravelIndustrialParkinGuigang,implementedbythewholly-ownedsubsidiaryGuangxiVehicle.Asoftheendofthereportingperiod,GuangxiVehiclehadobtainedtheconstructionandbuildingpermits,andtheGuigangproductionbaseprojectisunderconstruction.
(2)LishuiProductionBaseInNovember2021,theCompanyheldtheSecondExtraordinaryGeneralMeetingof2021,whichapprovedtheproposaltosignanInvestmentAgreementwiththeQingtianCountyPeople'sGovernmentofLishuiCity.TheCompanyagreedtoatotalinvestmentofapproximately2billionRMBfortheconstructionoftheAimaNewEnergySmartTravelEco-IndustrialParkprojectinQingtianCounty,Lishui,implementedbythewholly-ownedsubsidiaryLishuiVehicle.LishuiVehiclehasobtainedthenecessaryconstructionandbuildingpermits,andtheLishuiproductionbaseprojectisunderconstruction.
(3)TaizhouProductionBaseInSeptember2021,theCompanyheldthe21stMeetingoftheFourthBoardofDirectors,whichapprovedtheproposaltosigntheTaizhouIntelligentElectricVehicleandHigh-SpeedElectricMotorcycleProjectInvestmentAgreement.TheCompanyagreedtoatotalinvestmentofapproximately1billionRMBfortheconstructionoftheTaizhouIntelligentElectricVehicleandHigh-SpeedElectricMotorcycleprojectinHuangyanDistrict,Taizhou,implementedbythewholly-ownedsubsidiaryTaizhouManufacture.Asoftheendofthereportingperiod,theTaizhouproductionbasehadobtainedallnecessaryconstructionpermits,andtheprojectisunderconstruction.
(4)ChongqingProductionBaseInAugust2021,theCompanyheldthe1stExtraordinaryGeneralMeetingof2021,whichapprovedtheproposaltosignaProjectAgreementwiththeManagementCommitteeoftheTongliangHigh-techIndustrialDevelopmentZoneinChongqing.TheCompanyagreedtoaninvestmentplanofapproximately2billionRMBtobuildtheAimaSouthwestManufacturingBaseintheTongliangDistrictofChongqing,implementedbythewholly-ownedsubsidiaryChongqingVehicle.ThefirstphaseoftheChongqingproductionbasehasofficiallycommencedproduction.Asoftheendofthereportingperiod,thesecondphaseoftheChongqingproductionbasehadobtainedtheconstructionandbuildingpermits,andtheprojectisunderconstruction.
3.Financialassetsmeasuredatfairvalue
√Applicable?Notapplicable
| Assetcategory | Beginningbalance | Fairvaluechangeduringtheperiod | Accumulatedfairvaluechangerecognizedinequity | Impairmentprovisionfortheperiod | Purchasesduringtheperiod | Sales/redemptionsduringtheperiod | otherChanges | Endingbalance |
| Stocks | 7,348.00 | -1,764.00 | 5,584.00 | ||||
| OtherEquityInvestmentInstruments | 5,000.00 | -5,000.00 | 0 | ||||
| FinancialProducts | 6,918.87 | 41.33 | 42,702.62 | -37,642.68 | 12,020.14 | ||
| ReceivablesFinancing | 833.28 | 56.05 | 889.32 | ||||
| Total | 15,100.15 | -1,722.67 | 47,702.62 | -42,586.63 | 18,493.46 |
Duringthereportingperiod,theCompanysubscribedtoaportionoftheequityofGuangxiNingfubycontributingadditionalcapital.Sincetheshareholdingratiodidnotexceed5%,theCompanydidnothaveasignificantinfluenceoverGuangxiNingfuandaccountedforthisinvestmentasafinancialinstrumentmeasuredatfairvaluethroughothercomprehensiveincome.FollowingtheresolutionofGuangxiNingfu’sshareholders’meetingonJune30,2023,whichapprovedtheadditionoftheCompany'sChairmanZhangJianasadirectorofGuangxiNingfu,theCompanyobtainedsignificantinfluenceoverGuangxiNingfu.Therefore,duringthereportingperiod,itreclassifiedthisinvestmentasalong-termequityinvestmentaccountedforusingtheequitymethod,nolongermeasuredatfairvalue.Securitiesinvestment
√Applicable?Notapplicable
Unit:TenThousandYuan(RMB)
| Categoryofsecurity | Codeofsecurity | Abbreviation | Initialinvestmentcost | Sourceoffunding | Openingbookvalue | Gainsorlossesarisingfromchangesinfairvalue | Accumulativechangesinfairvaluerecognizedinequity | Purchasesduringtheperiod | Soldamountduringtheperiod | Gainorlossoninvestments | Closingbookvalue | Accountingcategory |
| Stock | 688819.SH | TiannengShare | 8,399.79 | Self-ownedfunds | 7,348.00 | -1,764.00 | -1,764.00 | 5,584.00 | Financialassetsheldfortrading |
DescriptionofSecuritiesInvestmentSituation
√Applicable?NotapplicableOnDecember1,2020,theCompanyconvenedthe12thMeetingoftheFourthBoardofDirectors,whichapprovedtheproposalonSigningaStrategicPlacementSubscription
AgreementwithTiannengBatteryGroupCo.,Ltd.TheCompanyagreedtoparticipateasastrategicinvestorinthestrategicplacementofTiannengBatteryGroupCo.,Ltd.,usingitsownfundsnotexceeding100millionRMB.TheinvestmenttransactionwascompletedinJanuary2021.Asoftheendofthereportingperiod,theCompanyhadnotreduceditsholdingsintherelatedstocks.Privateequityinvestment?Applicable√NotapplicableDerivativesinvestment?Applicable√Notapplicable
4.Concreteprogressofrestructuringandintegrationofmajorassetsinthereportingperiod?Applicable√Notapplicable(VI)Saleofmajorassetsandequity?Applicable√Notapplicable(VII)AnalysisonmajorsubsidiariesandInvestees
√Applicable?Notapplicable
Unit:TenThousandYuan(RMB)
| Nameofcompany | Controlrelationship | Mainbusiness | Registeredcapital | Totalassets | Netassets | Revenue | Netprofit |
| AimaChongqing | Wholly-ownedsubsidiary | Development,manufactureandsaleofelectricbicycle,electricmoped,electricmotorcycle | 1,000 | 499,075.24 | 200,688.83 | 1,078,806.66 | 150,593.67 |
| TianjinVehicle | Wholly-ownedsubsidiary | Development,manufactureandsaleofelectricbicycle,electricmoped,electricmotorcycle,electrictricycle | 10,000 | 270,681.85 | 60,890.74 | 631,296.10 | 44,327.41 |
| JiangsuVehicle | Wholly-ownedsubsidiary | Development,manufactureandsaleofelectricbicycle,electricmoped,electricmotorcycle | 44,000 | 153,142.82 | 40,832.01 | 533,656.95 | 22,227.47 |
| GuangdongVehicle | Wholly-ownedsubsidiary | Development,manufactureandsaleofelectricbicycle,electricmoped,electricmotorcycle | 10,000 | 66,257.05 | 35,034.02 | 229,625.28 | 20,117.35 |
Inthereportingperiod,netprofitrealizedbytheabovemajorwholly-fundedsubsidiariescamefromtheproductionandsalesofmajorproductsincludingelectrictwo-wheelers,electrictricycles.OthersubsidiariesandassociatesoftheCompanywereinnormaloperation,andtheirprofitandlosssituationhadlittleimpacttotheCompany.(VIII)StructuredentitiescontrolledbytheCompany?Applicable√NotapplicableVI.DiscussionandAnalysisoftheCompanyonItsFutureDevelopment(I)Industrialstructureandtrend
√Applicable?Notapplicable
1.Competitionsituationofindustry
Atthecurrentstage,asthe"NewNationalStandard"reachesitsendphase,consumerdemandisshowingtrendsofdiversification,High-end,smartintegration,andinternationalization.Theindustryparticipantsaretransitioningfromtheoriginal"manufactureandsell"modeltoa"productandserviceprovision"modelbasedonsatisfyingconsumerdemands.Alargenumberofcompanieslackingtheabilitytoperceiveconsumerneedsandtofulfillthem,withlowstandardization,smallscale,andpooroveralloperationalefficiency,havebeeneliminatedorshutdown,resultinginacontinuousincreaseinindustryconcentration.Fromtheperspectiveofcorporatecharacteristics,industryparticipantsmainlyincludetwotypesofenterprises:Thefirsttypeisinnovativebrandenterprises,whichfocusoncontinuousinnovationandR&D,andstrivetoleadindustrydevelopment.oftenbeingabletokeenlyperceivetrendsinuserdemandsandswiftlyintroduceinnovativeproductsbasedontheseinsights,therebygainingacompetitiveedgeinthemarket.Theyholdnumerouspatentsandinnovativeproducts,demonstratingarobustabilitytoadapttomarketchanges,whichallowsthemtoflexiblyrespondtochallengesfromcompetitors.Thesecondtypeofbusinessisthefollowerbrand,whichhasweakercapabilitiesininnovation.Thesecompaniesoftenfacetechnologicalbarriers,producthomogeneity,andapassivefollowingofmarkettrends,placingthematadisadvantageincompetition.
TableMarketcompetitionlandscapeofelectrictwo-wheelers
| Marketparticipant | Originalresearchandinnovationcapability | Userdemandinsightcapability | Userdemandfulfillmentcapability | Comprehensiveoperationalefficiency | Competitivecapability |
| Innovativebrandenterprises | Strong | Strong | Strong | High | Strong |
| Followerbrandenterprises | Weak | Weak | Weak | Low | Weak |
2.IndustryDrivingFactors
(1)Policy
Policiesareincreasinglyrefiningtheregulatoryframework.Theimplementationofthe“NewNationalStandard”,alongwithotherindustrypolicies,hasstandardizedindustrydevelopmentandcreatedopportunitiesforleadingcompanies.
1)“NewNationalStandard”Implementationof“NewNationalStandard”bringschangesincompetitionorderandmarketvolume.TheinspectionrulesofOldNationalStandardaredividedintothreecategories,vetoitems,importantitemsandcommonitems.Theelectricbicycle,meetingallvetoitems,atleast15onesin18importantitemsandatleast9itemsin13commonitems,aredeemedasqualifiedininspectionconclusion.The“NewNationalStandard”doesnotdistinguishtheinspectionrulesofelectricbicycle,alltechnicalparametersaremandatoryandremphasizethenon-motorizedvehiclestatusofelectricbicycles,suchasamaximumspeedlimitof25km/h,andincludestechnologicalmeasuresagainsttamperingwithspeed.Withimplementationof“NewNationalStandard”,inordertofurtherstrengthentransportationsafetymanagement,theadministrativedepartmentsimplementtransitionperiodmanagementpolicyfortheexistingelectricbicyclesthatexceedthestandard,andeachlocalgovernmentsetthetransitionperiod.Afterthetransitionperiodexpires,theelectricbicyclesexceedingthestandardwillnotbeallowedtorunontheroadagain.Localgovernmentspromulgatedthemanagementpoliciesforelectricbicyclesthatexceedthestandard,andsetdifferenttransitionperiods(generally5years,i.e.closingbeforetheendof2024).Andalsotheystrictlyexecutedthe“NewNationalStandard”,andthedigitalandsmarttransportmonitoringequipmentandexecutiontoolsgreatlyreducedexecutiondifficulty,therefore,theimplementationeffectofthe“NewNationalStandard”wasgood,andthereplacementdemandincreasingeveryyearextendedtheindustry’smarketvolume.Afterimplementationofthe“NewNationalStandard”,thedemandforelectricmopedsandelectricmotorcyclessignificantlyincreased,manymanufacturershadtopassstrictentryexaminationinordertoobtainproductionandmanagementqualification.Inaddition,allelectrictwo-wheelersmustpass3Cauthenticationbeforesaleinthemarket,andtheauthenticationwouldgeneratecertainexpenses.Thesemeasureshavesignificantlyraisedindustrialentrybarrierandtheoperatingcostsofwholevehiclemanufacturers,acceleratedsurvivalofthefittestintheindustry,andhadactivepromotionactionforregulatingdevelopmentandcompetitionorderofelectrictwo-wheelervehicleindustry.Inviewofimplementationeffectof“NewNationalStandard”inrecenttwoyears,integrationshowedaccelerationtrendintheindustry,andthemarketsharewouldbeconcentratedtotheleadingenterprises.
2)OtherimportantindustrypoliciesTheindustrysupervisionandadministrationpoliciespromulgatedandimplementedinrecentyearsweremainlyrelatedtosafety(includingridingsafetyandfiresafety).Benefitingfromdigitalandsmarttransportationmonitoringequipmentandexecutiontools,
theexecutionstrengthandeffectivenesscontinuetoincrease,andthesafeuseofelectrictwo-wheelersandindustrialorderarestrictlyregulatedfromproduction,sales,anduserends.InJuly2021,theStateTaxationAdministration,MinistryofIndustryandInformationTechnology,andMinistryofPublicSecurityjointlyreleasedtheMeasuresforthe“UseofMotorVehicleInvoices”.Enterpriseswhichmanufactureandsellmotorvehiclesshallissueunifiedinvoicesforthemotorvehicleswhichtheyhavesoldaccordingtotheprincipleof“oneinvoiceforonevehicle”,andanyelectricmotorcyclesandelectricmopedsnotissuedwithinvoicescannotobtainlicenseplatesandrunontheroad.The'oneinvoiceforonevehicle'policyfacilitatesafter-saleclaimsbyconsumersandeffectivelyeliminatesasymmetricalcompetitionintheindustry.Inaddition,occurrenceofpublicsafetyaccidentsarisingfromelectrictwo-wheelersonfirecatchesmoresocialattentioninrecentyears.Executionoftherule“electricvehiclesshallnotbeupstairs”isstricter,safecharginghasbecomeafocalpointinconsumptionandanimportantissueaffectingthedevelopmentoftheindustry,andgeneratedahugepotentialdemandmarket,andalsoprovidedroomforbusinessexpansionandperformancegrowth.
(2)SocietyThecommonviewof“lowcarbonemissionandgreentransport”andworsetrafficjamtocommutehabitmademoreuserstoacceptelectrictwo-wheelers.Inrecentyears,environmentalprotectionhasbecomeaglobalconsensus.Inresponsetotheincreasinglyevidentclimaterisksandtheseriesofissuestheyprecipitate,governmentsworldwidehavetakenaction.Chinahassetforththe"DualCarbon"goals(carbonpeakby2030andcarbonneutralityby2060)andcontinuouslyrefineditslegalandregulatoryframeworkforlow-carbonemissionsreduction,activelyadvocatingforgreen,environmentallyfriendlyconcepts.Undersuchcircumstances,thenotionof"low-carbongreentravel"hasgraduallybecomeasocialconsensus.Electrictwo-wheelers,withtheirenvironmentallyfriendlyandeconomicalcharacteristics,alignperfectlywiththeconsumerdemandsofgreentravel.Concurrently,asurbantrafficcongestionworsens,manyfamiliesandindividuals,despiteowningcars,areoptingforelectrictwo-wheelersasaflexibleandconvenientmodeoftransportationforshortandmediumdistancesduetotheirmaneuverabilityandeaseofparking.
(3)EconomyThemediumandshort-distancetraveldemandofresidentsisbasic,transportcostadvantagemakeselectrictwo-wheelerasmajorselectionformediumandshort-distancetravel;theriseoftake-outdistributionandotheremergingbusinessesremarkablyextendtheusescenariosofelectrictwo-wheelers.Witheconomicdevelopmentandurbanizationprogress,thetravelradiusofresidents(includingurbanandruralresidents)continuallyincreases,andthemediumandshort-distancetraveldemandisincreasing.Comparedwithothermediumandshort-distancevehicles,electrictwo-wheelerhasthefollowingadvantages:economical,convenient,time-savingandlabor-saving,andthetransportationcostadvantageiseven
moreobvious,thishighlymeetsthedemandofresidentsanditbecomesthemajorselectionofresidentsformediumandshort-distancetravel.Thisisthebasicdrivefactorofindustrydevelopment.Furthermore,whenconsumptionawarenessofresidentsimprovesandthe“Internet+”servicemodelisbecomingmatureinChina,variousdoor-to-doorserviceshavebecomemainstreamofnewconsumption,take-outservicesdrivenunderO2O(online/offline)modelandexpressservicesdrivenundere-commercehavebecomethenewconsumptionscenariosofelectrictwo-wheeler,whichbenefitstheexpansionofindustrycapacity.
(4)TechnologyIn-depthresearchonthedesign,technology,andprocessesofelectrictwo-wheelers,alongwiththeongoingintegrationofnetworkingandintelligence,drivestheindustry'stechnologicaldevelopment.Industrytechnologiesaredevelopedmainlyintwopaths,oneisinnovationandimprovementoftheinherenttechnologysystemoftheindustry(includingmaterial,processandstructure),includingperformanceimprovementofcorehardwaresuchasbattery,applicationofnewenvironment-friendlymaterialsandnewtechnologies,improvementofvehiclebodystructure.Theotheristechnicalapplicationcrossingindustries,networkingandsmarttechnicalapplicationistheR&Dfieldofcurrentimportantcross-industrytechnicalapplication.Bothofthemjointlypromotetechnologydevelopmentoftheindustry,improvementofproductperformanceandfunctionexpansion,anditisbeneficialthattheproductsintheindustryobtainwidermarketrecognition.AftertheleadingenterpriseswithstrengthinR&Dinvestmentacquireeconomicinterestfromresearchanddevelopment,theywillfurtherincreaseinputinR&Danddesign,sothatitcangenerategoodcycleofR&D-design-manufacture-sale,andpromoteimprovementofindustryconcentrationandwholeupgradingofindustry.
(5)InternationaldemandCarbonemissionreductionisanimportantstrategicconsensusformedonaglobalscale.Againstthebackdropofcontinuousimplementationofcarbonreductionpoliciesworldwide,theinternationalmarketforelectrictwo-wheelersisshowingagrowingtrend.Sinceelectrictwo-wheelersemerged,thedomesticmarkethasbeentheprimaryconsumptionmarket,whiledemandforelectrictwo-wheelersintheinternationalmarkethasbeenlow.Comparedwithelectrictwo-wheelers,motorcyclesandelectricassistanceproductswithleisureandfitnessfunctionsaregreatlyacceptedbyoverseascustomers.Whileenvironmentalprotectionawarenessisbeingstrengthenedintheworld,manycountriespromulgaterelevantpoliciesfor“prohibitingmotorcycle”orencouraging“replacingoilwithelectricity”,andthedemandforelectrictwo-wheelersintheinternationalmarketshowsincreasingtrend,andthisprovidesanotherhugedevelopmentspacefortheindustry.
3.Industrydevelopmenttrend
Economictransformationandconsumptionupgrading,applicationofnetworkingandsmarttechnologies,alongwiththeriseininternationaldemandduetocarbonpeakingandcarbonneutralitygoals,willdrivetheelectrictwo-wheelerindustrytowardsdifferentiation,high-end,smart,andinternationaldirections.
(1)DifferentiationElectrictwo-wheelersinearlydaysmainlymettheshort-distancetraveldemandofthepublic,andtheproductsfocusedatridingfunctionandcostperformance,theyhadsimplefunctionsandarehomogeneous.Withtheimprovementofresidents'livingstandardsandthetrendtowardsconsumptionupgrading,theconsumptiondemandforelectrictwo-wheelerschangestothedirectionofquality,function,personalityandexperience,includingcolor,vehiclemodelandstyle(suchasbusiness,fashionandsports),drivingmileage,smartinteraction,ridingcomfort,brakesafety,stability,etc.Inthetrendofconsumptiondemandtransformationandconsumptionupgrading,electrictwo-wheelerswillshowdifferentialtrend,namely,manufacturerscarryoutpreciseidentificationanddeepresearchtosegmentingconsumptiondemand,andorganizecustomizedproductionaccordingtodifferentpersonaldemands.
(2)High-endWithmoreintensivecompetitionintheindustry,restructuringofindustryorderandchangeofconsumptiondemand,high-endwillbethenecessaryoptionofelectrictwo-wheelerindustry,andisalsoonlywayofbrandenterprises.High-endtrendoftheindustryincludesthreeaspects:first,productfunctionupgradingandexpansion,second,brandre-positioningandextension,third,overallhigh-endtransformation.Overallhigh-endtransformationmainlyreferstoinnovation,evolutionandupgradingoftheexistingindustrialpatternunderthenetworking,smartanddigitaltrend.
(3)SmartnessConsumptionupgradingandcross-industrytechnicalapplicationprovideopportunitiesforsmartdevelopmentoftheindustry,includingdevelopmentandapplicationofautomaticdriving,automaticparking,smartnavigation,automaticunlocking,healthtesting,remotefailurediagnosis,anti-theftwarningandothersmartmodules.Especially,GenZpeople,whohavebeenoneofthemajorconsumptiongroups,paymoreattentiontosmartunlocking,human-vehicleinterconnectionandothersmartfunctions.WithcontinualdevelopmentofInternetofvehicles,smartfunctionishopefultobethestandardfunctionconfiguration.Atthattime,electrictwo-wheelerswillnotbelimitedtobeshort-distancetransportvehicle,andtheywillbecomeanimportantpartofresidents'smartnetworkingmediasystemsandasignificantsourceofsocialnetworkingdata.
(4)InternationalizationWithformationofinternationalcommonviewoncarbonemissionreductionandunderstandingofoverseasusersaboutgreenandconvenientcharacteristicsofelectrictwo-wheeler,internationalmarketfacesdevelopmentopportunity,electrictwo-wheelerindustrywillgraduallymovefromdomesticmarkettoglobalmarket.Atpresent,many
domesticmanufacturersinChinaareintensifyingtheireffortstoexpandintotheinternationalmarket.Despitetheobstaclesposedbytradeprotectionismduringinternationalization,theuniqueadvantagesoftheelectrictwo-wheelerindustryandtheinternationalstrategiesofleadingenterpriseswillhelpelectrictwo-wheelersentertheoverseasmarket,andthiswillbecometheimportantdevelopmenttrendofthisindustry.(II)DevelopmentstrategyoftheCompany
√Applicable?NotapplicableTheCompanyconsistentlyadherestothestrategicdevelopmentaxisof"UsersFirst,ExcellentProducts,In-depthDevelopmentintheMarket,RefinedOperation"continuouslyfocusingonthefieldofconvenientshort-distancetransportation.Specializingintheinnovation,researchanddevelopment,andmanufacturingofelectrictwo-wheelers,theCompanyhasbuiltanend-to-endqualitymanagementsystemtoprovideconsumerswithcompetitiveproductsandtravelsolutions.Facingfuturemarketdevelopmenttrendstowardyouthfulness,fashion,intelligence,andlowcarbon,theCompanymaintainsandpromotesthetransformationfromasinglevehiclesellertoatravelsolutionsprovider,fromaleaderintravelproductstoaleaderinthetravelecosystem,fromadomesticbrandtoaninternationalbrand,andfromamanufacturing-basedcompanytoatechnology-basedcompany.Committedtobecomingaplatform-basedtechnologyfashioncompanythatprovidesgreenandconvenienttravelsolutions,theCompanycontinuestocreatevalueforshareholders,society,customers,andpartners.(III)Businessplan
√Applicable?Notapplicable
1.ProductdevelopmentandqualitymanagementCenteringonuserneeds,theCompanyadvancestheintegrateddevelopmentprocessofproductsandthestrategicprojectofcreatingmajorproducts,achievingboththedevelopmentoftherightproductsandtheircorrectdevelopment.Simultaneously,bypreciselyjudginguserneedsandmarkettrends,theCompanycontinuestoinvestincoreindustrytechnologies,implementationofintelligentfunctions,andtheapplicationofnewtechnologiesandprocesses,constantlyenhancingthefull-processqualitycontrolsystemtoensurethecontinuousdeliveryofadvancedperformanceandstablequalityproductsthatpreciselymeetthetargetusergroup'sdemands.
2.ChannelsandservicesTheCompanyfirmlyadherestothedirectionofintegratedmanufacturerandvendorvalue,continuouslyadvancingchannelexpansion.Byutilizinganefficientinformationsystem,theCompanyrefineschannelmanagementandempowersdealers,enhancingtheoperationalcapabilitiesandoutputofindividualstores.Simultaneously,itactivelyexploresinnovativechannelmodelstoimprovechanneloperationalefficiencyandeffectiveness.Relyingondealerchannels,theCompanypromotestheexpansionofspecializedservicestorestobuildaservicesystemthatcoverstheentireproductlifecycle,providinguserswithefficientandhigh-qualityservices.TheCompanyintensifiesexplorationofonline
channelstoattracttrafficandacquirenewcustomers,promotingthecoordinateddevelopmentofofflineandonlinechannels.
3.SupplychainTobuildasupplychainthatensuressupplysecurity,stablequality,andcost-effectiveness,theCompanyfocuseson"improvingquality,concentratingvolume,andreducingcosts”.Itcontinuouslyadvancessuppliertiermanagementandpreciseempowerment,creatingahigh-qualitysupplierbase.CollaborativelyadvancingR&D,qualitymanagement,andproduction,theCompanydeeplyinvolveskeysuppliersintheR&Dandproductionprocesses,advocatingtheuseofnewmaterials,technologies,andprocessestoachievecostreductionswhileensuringcomponentquality.TheCompanycontinuouslystrengthensthelocalizationofthesupplychaintoenhancesupplysecurityandspeed.
4.BrandbuildingandmarketingCenteringontherejuvenationandfashionrenewalofthebrand,theCompanyplansandconductscorrespondingbrandandmarketingactivities.Simultaneously,adjustingtheproductstructureasamarketingfocus,theCompanyintensifiesmarketingeffortsonpopularmodels.
5.ProductionFocusingonachievinggoalsinquality(Quality),cost(Cost),anddeliverytime(Delivery),theCompanyundertakesrelevantworkinautomation,informatizationconstruction,leanproduction,andtheapplicationofnewtechnologiesandprocesses.
6.DigitalintelligenceengineeringTheCompanycontinuouslypromotestheconstructionofdigitalintelligenceengineering,empoweringvariousbusinessunits,andcontinuallyenhancingtheCompany’scapabilitiesin"datanurturing,datamanagement,anddatautilization”,establishingadata-drivenmanagementcapability.
7.InternationalmarketexpansionIncreasinginvestment,theCompanysteadfastlyadoptsalocalizationstrategytoexpandintointernationalmarkets,focusingonkeymarketstoachievesynergisticdevelopmentofOEMlargecustomersandindependentbrandbusiness;buildingcorecompetitivenessfortheglobalmarket.
8.HumanresourcesFurtheroptimizingorganizationallevels,clarifyingfunctionalresponsibilities,andcomprehensivelyimplementingperformanceoutcomesintalentcultivation,selection,andincentivemechanisms;enhancingthecultivationofskilledtalents,improvingthetraininganddevelopmentsystemforskilledtalents,andestablishingaprofessionaldevelopmentchannelforskilledtalentslinkedwithsalarydistribution;intensifyingtheintroductionofstrategictalentstoprovidelong-termstablegrowthfortheCompany.(IV)Potentialrisks
√Applicable?Notapplicable
1.MoreintensivecompetitionintheindustryCompetitionintheelectrictwo-wheelerindustryisincreasinglyintensive.Inrecentyears,withregulatorydevelopmentofindustryandoptimizationofcompetitionorder,manysmallenterpriseswithdrawfromthemarket,andindustrycompetitionmainlyexistsbetweenleadingenterprises.Thisnewsituationseestheseenterprisescontinuallyreducingsalespriceswhileimprovingproductperformanceandexpandingservicecoverage,whichsignificantlyincreasesthedifficultyofcompetition.Ifamanufacturerfailstopromptlylaunchhigh-costperformanceproductsandofferhigh-qualityservicesaccordingtomarketdemand,itmayloseoriginalcompetitionadvantageandindustrialposition.Atpresent,theCompanyhasmaintainedaleadingpositionintheindustrybyvirtueofitscapabilitiesofstrongproductdevelopment,technologicalinnovation,excellentcostcontrolandqualitymanagement,goodbrandimageanduserreputation,nationwidemarketingchannelsandservicenetworksandothercompetitiveadvantages.TheCompanywillcontinuallyfocusonusers’demand,carryoutdifferentialcompetition,realizesmartandhigh-endproductsbyapplicationofInternetofvehiclestechnologies,developmentofindustrialcorehardware,improveproductionefficiencyanddefinedoperationthroughdigitalandsmartupgrading,developmentandcostreductionandraiseitscostcompetitionadvantage.
2.ProductR&DrisksWiththeimprovementofconsumers'consumptionawarenessandthetrendofconsumptionupgradingbecomingmoreandmoreobvious,consumers'demandforelectrictwo-wheeledvehiclespresentsthecharacteristicsoffashion,intelligenceandnetworking,whichrequireselectrictwo-wheeledvehiclemanufacturerstocontinuouslyresearchandpredictthetrendofconsumerdemand,continuetocarryoutproductinnovationandtechnologyresearchanddevelopment,andlaunchnewmodelswithnewshapesandnewfunctionstomeettheconstantlyupgradedconsumerneedsofusers.Failuretomeetconsumptionexpectationswillhaveanegativeimpactonperformance.Inaddition,theR&Dofnewmodelsrequiresacertainperiodoftime.Ifamanufacturertakestheleadindevelopingsimilarproductsandlockstherelevantpatents,itmayputpressureontheR&Dofothermanufacturers.TheCompanyalwaysregardsR&Dandproductinnovationasthemainmeanstoenhanceitsproductcompetitivenessandachievelong-termdevelopment.Startingfromtheneedsofusers,afteryearsofcontinuousR&Dinvestmentandexploration,ithasacquiredtherelevantcapabilitiesofaccurateuserdemandpositioning,excellenttechnologyandinnovation,whichmakesitsproductspopularamongconsumers.TheCompanywillcontinuetoimprovetheAPDSprocesswithauser-centeredR&Dstrategy,andenhancetheCompany'stechnologicalcapabilitiestoreduceR&Drisks.
3.ManagementriskstodealersThemainsalesmodeloftheCompany'sproductsisdistribution.DealersarenotonlytheCompany'sdirectcustomers,butalsoimportantwindowsfortheCompanytoshowits
brandimageandenhanceitsbrandreputationtoconsumersinitsdistributionareas.Theoperatingcapabilities,riskappetiteandwillingnesstoworkhardofthedealershaveagreaterimpactonthesalesoftheCompany'sproductsintherelevantdistributionareas.Ifthedealer'soperationmethodandservicequalityarecontrarytotheCompany'sbusinesspurposeorthedealer'sunderstandingoftheCompany'smanagementphilosophydeviates,itmayhaveanadverseimpactontheCompany'sbusinessperformanceandbrandimage.Inthisregard,theCompanycontinuouslyimprovesthedealermanagementsystem,strictlyimplementsthemanagementstandardsfordealeraccess,training,assessmentandexit,etc.,andestablishesascorecardsanddynamicchannelmanagementsystemto“retainwinnersandphaseoutlosers”,tostimulatethedealer’workingenthusiasm,improvetheiroperationcapabilitiesandensurethevitalityandhealthydevelopmentoftheCompany'schannelsystem.
4.MaterialpricefluctuationrisksThepurchasepriceofrawmaterialsintheindustryisaffectedbyfactorssuchasmacrotrendsandindustrialpolicies,andthereisthepossibilityoffluctuations,whichincreasesthedifficultyofcontrollingpurchasecostsandmayhaveacertainimpactontheoperatingperformanceofproductionenterprises.Inthisregard,theCompanyhasbuiltandwillcontinuetoimproveahigh-qualityandefficientsupplychainsystem,andhassetupanSQE(SupplierQualityEngineer)department,andselectandintegrateglobalsupplychainresources.TheCompanyinvestedinkeypartssupplierstoensurethesafetyofthesupplyofkeyparts;atthesametime,forproductswithaclearpriceincrease,theCompanyadoptsthemethodoflockingthepriceinadvanceandlockingthepurchasevolumetoavoidoperatingriskscausedbysharppriceincreases.TheCompanyhasestablishedclosestrategiccooperativerelationswithmajorpartssuppliers,whichisconducivetoachievingsufficientsupplyofrawmaterialsandstableprices.Atthesametime,theCompanyupgradesandoptimizesthesupplychainplatformthroughtheconstructionofdigitalintelligence,realizesthedeepsynergybetweentheCompany'smanufacturingprocessandthesupplychainsystem,andhedgesthecostcontrolpressurecausedbyrisingrawmaterialswiththeimprovementofproductionefficiency.
5.RisksofnewprojectsfallingshortofexpectationsInrecentyears,astheindustry'smarketcapacitycontinuouslyexpandsandtheCompany'sproductsalesgraduallyincrease,theCompanyhasdecidedtobuildnewproductionbasestoexpandcapacityandenhanceoverallproductioncapabilitiesafterthoroughresearchandvalidation.ThesenewprojectsincludetheTaizhouIntelligentElectricVehicleandHigh-SpeedElectricMotorcycleprojectinZhejiang,theAimaNewEnergyIntelligentTravelEcologicalIndustrialParkprojectinZhejiangLishui,theAimaIntelligentTravelIndustrialParkprojectinGuangxiGuigang,thesecondphaseoftheAimaSouthwestManufacturingBaseinChongqing,andanoverseasproductionbaseinSoutheastAsia.Theconstructionofnewbasesgenerallytakesalongtime,andcoupledwithchangesinpolicies,constructionconditions,andotherfactors,thereisariskthattheconstructionandproductionofnewprojectsmaynotprogressasexpected.AlthoughtheseprojectshavebeenthoroughlyvalidatedbytheCompanybasedonscientific
predictionsofnationalindustrialpolicies,industrytrends,andmarketdemands,significantadversechangesinpolicies,industrytrends,ormarketenvironmentsafterthenewbasesstartproductioncouldimpacttheprofitabilityoftheprojects.Additionally,theimplementationofnewprojectswillleadtoanincreaseintheCompany'sfixedassetdepreciationexpenses,whichmayadverselyaffectshort-termperformance.Inresponse,theCompanywillcloselymonitorpolicyandmarketenvironmentchanges,accelerateprojectconstructionandproductionramp-up,andcontinuouslyenhanceitstechnologicalstrengthandproductcompetitivenesstoaccuratelymeetconsumerdemands,therebyincreasingthemarketshareofitsproductsandtheprofitabilityofnewprojects.(VI)Others?Applicable√NotapplicableVII.ExplanationforNon-disclosureinAccordancewithTheAccountingStandardduetoBeingNotApplicabletoTheProvisionsoftheStandardorStateSecretandBusinessSecreteandOtherSpecialReasons?Applicable√Notapplicable
Section4CorporateGovernanceI.RelatedInformationaboutCorporateGovernance
√Applicable?NotapplicableInaccordancewiththeCompanyLaw,SecuritiesLaw,CodeofCorporateGovernanceforListedCompanies,RulesGoverningtheListingofStocksonShanghaiStockExchangeandotherlawsandregulations,andbasedonitsactualsituation,theCompanyhasconstantlyimproveditscorporategovernancestructureandinternalcontrolsystemtofurtherenhanceitsgovernancelevel.TheGeneralMeetingofShareholders,BoardofDirectors,BoardofSupervisorsandmanagershavetheirrespectiveclearrightsandresponsibilities,andtheyoperateinaregulatedmanner.FourspecializedcommitteesincludingtheStrategyandESGCommittee,AuditCommittee,NominationCommittee,RemunerationandAppraisalCommitteehavebeensetupundertheBoardofDirectors,andeachspecificcommitteedoesitsworkaccordingtoitsduties.In2023,theCompanyheld4generalmeetingsofShareholders,13meetingsofboardofdirectorsand10meetingsofboardofsupervisors,reviewingtheimportantmatterssuchasexternalguarantees,relatedpartytransactions,convertiblebonds,stockoptions,sharebuy-backs.TheCompanyhasupdatedtheindependentdirectorsysteminaccordancewiththelatestlegalandregulatoryrequirements.Theindependentdirectorsrigorouslyfulfilltheirresponsibilitiesasmandatedbyrelevantlaws,regulations,andtheCompany’sArticlesofAssociation,expressindependentopinionsonrelatedmatters,convenespecialmeetingsfordeliberation,andeffectivelysafeguardthelegalrightsandinterestsofallshareholders.Concurrently,theCompanycontinuestoamendandimproverelevantregulations,whichareeffectivelyexecuted;TheCompanyhasestablishedimpartial,transparentperformanceevaluationstandardandincentiveandrestrictionmechanismsforseniormanagement,andhasmadecomprehensiveevaluationwithreferencetotheoperationtargetsoftheCompanyanditsbusinessunits,individualabilityandperformanceexamination.TheCompanyccontinuouslyenhancesthequalityofitsinformationdisclosuresaccordingtotheprovisionsoftheArticlesofAssociation,ManagementMethodonInformationDisclosureandotherrules.TheCompanyinsistsoncombinationofstatutoryinformationdisclosureandvoluntaryinformationdisclosureandensurethatallshareholdersandotherstakeholderscouldobtaintheCompany’sinformationequally.Duringthereportingperiod,theCompanydisclosed107temporaryreportsand4regularreports,allannouncementsandfilingdocumentsarestoredintheCompany'ssecuritiesaffairsmanagementdepartmentforinvestorstoaccess.TheCompanyalsostrictlyexecutedtheInsiderRegistrationandFilingSystemtoenhancetheconfidentialityofinsiderinformation,maintaintheopenness,fairnessandjustnessofinformationdisclosureandprotectthelegitimaterightsandinterestsofinvestors.
TheCompanyplaceshighimportanceoninvestorrelationsmanagement.ThroughvariouschannelssuchastheShanghaiStockExchange"e-Interaction"platform,dedicatedinvestorhotline,email,websitecolumn,onlinemeetings,andon-sitereception,theCompanymaintainscontinuouscontactwithalltypesofinvestorsandindustryresearchers.Thisfacilitatestimelyaccesstocorporateinformationforinvestorsandbuildsaneffectivecommunicationbridgebetweeninvestorsandthelistedcompany.ItalsoallowstheCompanytounderstandthedemandsandexpectationsofinvestors,guidingandstandardizingfurtherimprovementsininvestorrelationsmanagementtoenhancecorporatequality.Duringthereportingperiod,theCompanyorganizedmultipleperformancebriefingsandinvestorresearchactivities,andactivelyparticipatedinbrokeragestrategymeetings,conductingavarietyofinvestorcommunicationactivitiesinaccordancewithlawsandregulations.Indicatewhethertherewasanymaterialincompliancewiththeapplicablelawsandregulations,aswellastheCSRC’srequirementsincorporategovernance.Ifyes,pleaseexplain
√Applicable?NotapplicableII.SpecificMeasuresTakenbytheControllingShareholderandActualControllertoGuaranteetheAsset,Personnel,Financial,OrganizationalandBusinessIndependenceoftheCompany,aswellasSolutions,ProgressandSubsequentPlanswhentheCompany’sIndependenceIsIntervened
√Applicable?NotapplicableTheCompanyhasbeenoperatingstrictlyinaccordancewiththeCompanyLaw,ArticlesofAssociationandotherrelevantregulations.TheCompanymaintainsindependencefromitscontrollingshareholder,theactualcontrollerandotherenterprisesunderitscontrolinassets,personnel,finance,organization,business,etc.TheCompanyhasacompletebusinesssystemandtheabilitytooperateindependentlyinthemarket.Theconcretesituationisasfollows:
(I)IndependentassetsTheCompanyhasanindependentandcompleteproduction,procurementandsalessystemandsupportingfacilitiesforproductionandoperation,andlegallyownsfixedassets(e.g.,plantsandequipment)andintangibleassets(e.g.,landuserights,trademarksandpatents)relatedtoproductionandoperation.TherearenoinstancesofillegaluseoftheCompany’sfunds,assets,orotherresourcesbythecontrollingshareholderoritsaffiliates,andtherearenounclearpropertyrightsinthebusinesssystemsandmajorassetsrelatedtooperation.(II)IndependentpersonnelTheCompanyhassetupanindependenthumanresourcedepartment,andhasformulatedtherulesrelatedtolabor,personnelandsalary.AlloftheCompany’sseniormanagement,holdfull-timepositionsinandreceiveremunerationsfromtheCompany,andnoneofthemholdapositionotherthandirectorandsupervisorinthecontrolling
shareholderoractualcontrolleroftheCompanyoranyotherenterpriseundercontrolthereof.TheCompanyisabsolutelyindependentfromitscontrollingshareholderandactualcontroller,andotherenterprisesundertheircontrolintermsoflabor,personnelandsalarymanagement.(III)IndependentfinanceTheCompanyhassetupanindependentfinancedepartment,andestablishedasetofindependent,completeandnormativefinancialaccountingsystem,accountingmanagementsystemandinternalcontrolsystem.TheCompanyindependentlyopensbankingaccounts,paystaxinaccordancewiththelaw,anddoesnotuseanyjointaccountwiththecontrollingshareholder,actualcontrollerandotherenterprisesundercontrolthereof.(IV)IndependentorganizationTheCompanyhasindependentproduction,operationandofficeplaces.Accordingtolaw,theCompanyhassetthegeneralmeetingofshareholdersasthehighestauthority,theboardofdirectorsasthedecision-makingbodyandtheboardofsupervisorsasthesupervisorybody,builtanindependentorganizationalstructuresuitableforitsowndevelopment,andformulatedreasonableandcompletepositiondutiesandinternalmanagementrules.Eachdepartmentindependentlyoperatesaccordingtothestatedresponsibilities.ThereisnoshareholderentityoranyotherentityorindividualthatinterfereswiththeestablishmentoftheCompany’sorganization,andtheCompanyiscompletelyindependentofthecontrollingshareholder,actualcontrollerandotherenterprisesundercontrolthereof.(V)IndependentbusinessTheCompanyownsindependentandcompletepurchasing,production,salesandbusinesssystems,andhasindependentmanagementdecision-makingrights,independentlyorganizesitsproductionandmanagementaccordingtooperationplans,independentlycarriesoutbusiness,whichisindependentwiththecontrollingshareholder,actualcontrollerandotherenterprisesundercontrolthereof.TheCompanydoesnothavepeercompetitionorunconscionablerelatedtransactionwiththecontrollingshareholder,actualcontrollerandotherenterprisesundercontrolthereof.Indicatewhetherthecontrollingshareholder,theactualcontroller,oranyentityundertheircontrolisengagedinthesameorsimilarbusinesswiththeCompany.ExplaintheimpactofpeercompetitionoranysignificantchangetopeercompetitionontheCompany,solutionstaken,progressandsubsequentplans.?Applicable√NotapplicableIII.IntroductiontoGeneralMeetingsofShareholders
| Meetingsession | Dateofmeeti | Indexforresolutionsearchonthedesignated | Dateofdisclosureof | Meetingresolutions |
| ng | website | resolution | ||
| The1stExtraordinaryGeneralMeetingofShareholdersin2023 | April14,2023 | www.sse.com.cn | April15,2023 | Reviewedandadoptedthe<2023StockOptionIncentivePlan(Draft)>anditssummary,theProposalonthe<2023StockOptionIncentivePlanImplementationAssessmentManagementMeasures>,andtheProposalonSubmittingtotheGeneralMeetingofShareholderstheAuthorizationfortheBoardofDirectorstoHandleMattersRelatedtoEquityIncentives. |
| TheAnnualGeneralMeetingofShareholdersin2022 | May5,2023 | www.sse.com.cn | May6,2023 | ReviewedandadoptedtheProposalonthe2022WorkReportoftheBoardofDirectors,theProposalontheWorkReportoftheBoardofSupervisorsin2022,theProposalontheFinalFinancialReportof2022,theProposalonthePlanforProfitDistributionandCapitalizationofCapitalReservesin2022,theProposalontheAnnualReportof2022anditsSummary,theProposalonProvidingCreditGuaranteesforCertainSubsidiaries,theProposalonApplyingforComprehensiveCreditLinetoBankin2023,theProposalontheWorkReportofIndependentDirectorsin2022,theProposalRegardingDirectorCompensationfortheFifthBoardofDirectorsMeeting,theProposalRegardingSupervisorCompensationfortheFifthBoardofSupervisorsMeeting,theProposalfortheReappointmentoftheFinancialAuditFirmandInternalControlAuditFirmfortheFiscalYear2023,theProposalforPurchasingLiabilityInsurancefortheCompanyandDirectors,Supervisors,andSeniorManagementPersonnel. |
| The2ndExtraordinaryGeneralMeetingofShareholdersin2023 | June5,2023 | www.sse.com.cn | June6,2023 | ReviewedandadoptedtheProposalRegardingChangingtheCompany'sRegisteredCapitalandAmendingthe<CompanyArticlesofAssociation>. |
| The3rdExtraordinaryGeneralMeetingofShareholders | September7,2023 | www.sse.com.cn | September8,2023 | ReviewedandadoptedtheProposalRegardingthe<2023InterimProfitDistributionPlan>. |
Extraordinarygeneralmeetingsofshareholdersconvenedattherequestofpreferenceshareholderswithresumedvotingrights:
Applicable√NotapplicableDescriptionofgeneralmeetingsofshareholdersApplicable√Notapplicable
IV.SituationofDirectors,SupervisorsandSeniorManagement(I)Shareholdingchangesandremunerationsofincumbentdirectors,supervisorsandseniormanagementandthosewhoresignedbeforetheendoftheirtenuresduringthereportingperiod
√Applicable?Notapplicable
| Name | Officetitle | Gender | Age | Startoftenure | Endoftenure | Beginningofyearshareholding | Endofyearshareholding | Changeinshareholdinginthereportingperiod | Reasonforchange | Pre-taxcompensationreceivedfromtheCompanyduringthereportingperiod(intenthousandRMB) | WhetheracquiringremunerationfromrelatedpartiesoftheCompany |
| ZhangJian | ChairmanoftheBoard,GM | M | 54 | September27,1999 | September8,2025 | 395,243,800 | 592,865,700 | 197,621,900 | Capitalizationofcapitalreserves | 321.37 | No |
| DuanHua | ViceChairmanoftheBoard,viceGM | F | 55 | September13,2013 | September8,2025 | 308.23 | No | ||||
| ZhangGege | Director | F | 30 | September13,2013 | September8,2025 | 50.72 | No | ||||
| PengWei | Director | M | 53 | August26,2009 | September8,2025 | 4,147,840 | 6,221,760 | 2,073,920 | Capitalizationofcapitalreserves | 67.42 | No |
| GaoHui | Director,viceGM | M | 45 | September9,2022 | September8,2025 | 1,680,000 | 2,520,000 | 840,000 | Capitalizationofcapitalreserves | 283.71 | No |
| WangChunyan | Director,viceGM,secretaryofboardofdirector | M | 44 | January24,2018 | September8,2025 | 151.29 | No | ||||
| SunMinggui | Independentdirector | M | 60 | September9,2022 | September8,2025 | 10.67 | No | ||||
| LiuJunfeng | Independentdirector | M | 55 | September9,2022 | September8,2025 | 10.67 | No | ||||
| MaJunsheng | Independentdirector | M | 48 | September9,2022 | September8,2025 | 10.67 | No | ||||
| XuPeng | Chairmanofboardofsupervisors | M | 34 | September13,2016 | September8,2025 | 30.37 | No | ||||
| LiYan | Employeesupervisor | F | 40 | May7,2018 | September8,2025 | 69.02 | No | ||||
| LiuTingxu | Supervisor | F | 42 | September9,2022 | September8,2025 | 92.60 | No | ||||
| LiYubao | ViceGM | M | 48 | January24,2018 | September8,2025 | 313.08 | No | ||||
| Zheng | ViceGM, | F | 42 | July21, | Septembe | 560,000 | 840,000 | 280,000 | Capitalization | 222.80 | No |
| Hui | ChiefFinancialOfficer | 2021 | r8,2025 | ofcapitalreserves | ||||||||
| LuoQingyi | ViceGM | M | 44 | September9,2022 | September8,2025 | 840,000 | 1,260,000 | 420,000 | Capitalizationofcapitalreserves | 326.92 | No | |
| Name | Mainworkingexperience | |||||||||||
| ZhangJian | FormerExecutiveDirectorofTianjinQiyuInteractiveTechnologyCo.,Ltd.,andDirectorofTianjinSanshangInvestmentManagementCo.,Ltd.CurrentlyservesastheChairmanandGeneralManageroftheCompany. | |||||||||||
| DuanHua | FormerViceGeneralManageratAimaTechnology.CurrentlytheViceChairmanandViceGeneralManageroftheCompany. | |||||||||||
| ZhangGege | FormerAssistantGeneralManagerandSecretarytotheChairmanattheCompany.CurrentlyaDirectorattheCompany,ExecutiveDirectorandGeneralManageratSuiwanwan,andExecutivePartneratYanchengDingai. | |||||||||||
| PengWei | FormerGeneralManagerofTianjinBondFushidaElectricVehicleCo.,Ltd.,andGeneralManageratTianjinSports.CurrentlyaDirectoroftheCompany. | |||||||||||
| GaoHui | FormerPresidentofthespecialandinternationalbusinessdivisionattheCompany.CurrentlyaDirector,ViceGeneralManager,Presidentoftheelectricvehicledivision,andGeneralManagerofdomesticbusinessattheCompany. | |||||||||||
| WangChunyan | FormerChairmanandPresidentofTianjinSanshangInvestmentManagementCo.,Ltd.CurrentlyaDirector,ViceGeneralManager,andSecretaryoftheBoardofDirectorsattheCompany. | |||||||||||
| SunMinggui | Formerteachingassistant,lecturer,associateprofessorandprofessorofLanzhouUniversity.CurrentlyanIndependentDirectoroftheCompany,andprofessoranddoctoralsupervisorofGloriousSunSchoolofBusinessandManagementatDonghuaUniversity. | |||||||||||
| LiuJunfeng | FormerViceGeneralManagerandSecretaryoftheBoardofTaslyPharmaceuticalGroupCo.,Ltd.,ViceGeneralManagerandSecretaryoftheBoardatTianjinChangrongTechnologyGroupCo.,Ltd.,andFull-timeViceChairmanandSecretary-GeneraloftheTianjinAssociationforPublicCompanies.CurrentlyanIndependentDirectoroftheCompanyandaConsultantatStock(Tianjin)EngineeringTechnologyCo.,Ltd. | |||||||||||
| MaJunsheng | FormertrainingpartneratShandongParamountAccountingFirm.CurrentlyanIndependentDirectoroftheCompany,directoroftheFinancialResearchInstituteattheShanghaiPudongFinancialPromotionAssociation,researcherattheIntelligentFinanceResearchInstituteofthe | |||||||||||
| ShanghaiNationalAccountingInstitute,IndependentDirectoratShanghaiGuohuiEnvironmentalTechnologyCo.,Ltd.,IndependentDirectoratShanghaiCNScienceandTechnologyCo.,Ltd.,ExternalDirectoratShanghaiYangpuTrading(Group)Co.,Ltd.,andIndependentDirectoratHuarongTechnologyCo.,Ltd. | |
| XuPeng | FormerChairmanoftheBoardatTianjinBondFushidaElectricVehicleCo.,Ltd.,andassistantgeneralmanageratTianjinSanshangInvestmentManagementCo.,Ltd.CurrentlytheChairmanoftheBoardofSupervisorsoftheCompany. |
| LiYan | FormersectionchiefofsuppliermanagementattheCompany'sprocurementdepartment,secretarytotheViceChairman,directoroftheimprovementofficeatthebrandmanagementventer,anddirectoroftheOfficeoftheViceChairman.CurrentlyanEmployeeSupervisorandproductmanageroftheR&DdepartmentattheCompany. |
| LiuTingxu | FormersectionchiefoftheprocurementdepartmentanddeputydirectorofthebrandcenterattheCompany.CurrentlyaSupervisorandSecretarytotheDeputyChairmanattheCompany. |
| LiYubao | FormerdirectoroftheprocurementdepartmentatTianjinNewTimesVehicleIndustryCo.,Ltd.,directoroftheprocurementdepartmentatTianjinTaimeiBicycleCo.,Ltd.,anddirectorofprocurementattheCompany.CurrentlytheViceGeneralManageroftheCompany. |
| ZhengHui | FormerFinancialManageratMideaGroupCo.,Ltd.ProductCompany,ViceGeneralManagerandChiefFinancialOfficeratMeizhiOptoelectronicsTechnologyCo.,Ltd.,ViceGeneralManageratFoshanHangeE-commerceTechnologyCo.,Ltd.,SeniorFinancialDirectoratFoshanYunmiElectricTechnologyCo.,Ltd.,andSeniorFinancialDirectorattheCompany.CurrentlytheViceGeneralManagerandChiefFinancialOfficeroftheCompany. |
| LuoQingyi | FormerAdministrativeViceGeneralManageratNingboGeelyRoyalEngineComponentsCo.,Ltd.CurrentlytheViceGeneralManageroftheCompany. |
DescriptionofothersituationApplicable√Notapplicable
(II)Incumbencyofcurrentandresigneddirectors,supervisorsandseniormanagementduringthereportingperiod
1.Positionattheshareholderentity?Applicable√Notapplicable
2.Statementofthepositionheldinotherentities
√Applicable?Notapplicable
| Nameofin-servicestaff | Nameofotherentities | Positionheldinotherentities | Startingdateoftenure | Endingdateoftenure |
| ZhangJian | TianjinJiemaElectricTechnologyCo.,Ltd. | Director | January2019 | |
| ZhangJian | ZhejiangTodaySunshineNewEnergyVehicleCo.,Ltd. | Director | May2022 | |
| ZhangJian | NanjingZhidouNewEnergyVehicleCo.,Ltd. | Director | May2023 | |
| ZhangJian | GuangxiNingfuNewEnergyTechnologyCo.,Ltd | Director | June2023 | |
| ZhangGege | YanchengDingaiVentureCapitalPartnership(LimitedPartnership) | Managingpartner | December2017 | |
| GaoHui | WuxiLyulingElectricTechnologyCo.,Ltd. | Executivedirector | May2015 | |
| LiuJunfeng | TianjinAssociationforPublicCompanies | Full-timevicepresidentandsecretarygeneral | August2021 | June2023 |
| SunMinggui | GloriousSunSchoolofBusinessandManagement,DonghuaUniversity | Professor,doctoralsupervisor | February2004 | |
| MaJunsheng | ShanghaiZhongyinCultureCommunicationCo.,Ltd | Independentdirector | September2022 | August2023 |
| MaJunsheng | ShanghaiGuohuiEnvironmentalTechnologyCo.,Ltd. | Independentdirector | October2020 | |
| MaJunsheng | ShanghaiXienTechnologyCo.,Ltd. | Independentdirector | February2022 | |
| MaJunsheng | ShanghaiYangpuCommerce&Trade(Group)Co.,Ltd. | Externaldirector | January2022 | |
| MaJunsheng | HuarongTechnologyCo.,Ltd. | Independentdirector | September2022 | |
| LuoQingyi | NingboHengaiEnterpriseManagementPartnership(LimitedPartnership) | Executivepartner | December2021 | May2023 |
| Descriptionoftakingofficeinotherorganizations | Asoftheendofthereportingperiod,MaJunshengservedasanindependentdirectorinnomorethanthreedomesticlistedcompanies,incompliancewiththerelevantprovisionsoftheGuidelinesforIndependentDirectorsofListedCompanies. | |||
(III)Remunerationsofdirectors,supervisorsandseniormanagement
√Applicable?Notapplicable
| Decision-makingprocessfortheremunerationofdirectors,supervisorsandseniormanagement | Theboardofdirectorsdecidesontheremunerationofseniormanagement,whilethegeneralmeetingofshareholdersdecidesontheremunerationofdirectorsandsupervisors. |
| DirectorsabstainfromdiscussionsontheirremunerationattheBoardofDirectors | Yes. |
| TheRemunerationandAssessmentCommitteeorspecialmeetingofindependentdirectorsprovided | Referringtoindustryandregionalstandards,andconsideringtheactualsituationoftheCompany,theremunerationfordirectors,supervisors,andseniormanagementisdetermined. |
| recommendationoncompensationofDirectors,SupervisorsandSeniorManagement | |
| Basisfordecidingtheremunerationofdirectors,supervisorsandseniormanagement | TheremunerationoftheCompany'sdirectors,supervisors,andseniormanagementisdeterminedbasedontheCompany'scompensationdistributionsystemandassessmentmethods.TheremunerationofindependentdirectorsisdeterminedaccordingtotheactualworktheyperformfortheCompany. |
| Actualpaymentofremunerationfordirectors,supervisorsandseniormanagement | Fordetails,pleaserefertoSectionIV,(I)Shareholdingchangesandremunerationsofincumbentdirectors,supervisorsandseniormanagementandthosewhoresignedduringthereportingperiod. |
| Totalremunerationactuallyobtainedbyalldirectors,supervisorsandseniormanagementattheendofreportingperiod | RMB22.6954million. |
(IV)Changesindirectors,supervisorsandseniormanagement?Applicable√Notapplicable
(V)Punishmentsimposedbysecuritiesregulatorsinthepastthreeyears?Applicable√Notapplicable
(VI)Others?Applicable√NotapplicableV.BoardMeetingsConvenedduringtheReportingPeriod
| Meetingsession | DateofMeeting | MeetingResolutions |
| The4thMeetingoftheFifthBoardofDirectors | February20,2023 | ReviewedandadoptedtheProposalonClarifyingthePublicIssuancePlanofConvertibleCorporateBonds,ProposalonthePublicIssuanceandListingofConvertibleCorporateBonds,ProposalonEstablishingSpecialAccountsforRaisedFundsandSigningSupervisionAgreements. |
| The5thMeetingoftheFifthBoardofDirectors | March20,2023 | ReviewedandadoptedtheProposalonUsingPartialFundsRaisedthroughConvertibleCorporateBondstoProvideLoanstoaWholly-OwnedSubsidiaryforImplementationofFund-raisingProjects,theProposalonthe<2023StockOptionIncentivePlan(Draft)>andItsSummary,theProposalonthe<2023StockOptionIncentivePlanImplementationandAssessmentManagementMethods,theProposaltoRequesttheGeneralMeetingofShareholderstoAuthorizetheBoardofDirectorstoHandleMattersRelatedtoStockIncentives,theProposalonConveningtheFirstExtraordinaryGeneralMeetingofShareholdersoftheCompanyin2023. |
| The6thMeetingoftheFifthBoardofDirectors | April14,2023 | ReviewedandadoptedtheProposalonthe2022WorkReportoftheBoardofDirectors,theProposalontheWorkReportoftheGeneralManagerin2022,theProposalontheFinalFinancialReportof2022,theProposalonthePlanforProfitDistributionandCapitalizationofCapitalReservesin2022,theProposalontheAnnualReportof2022anditsSummary,theProposalon2022EnvironmentalSocialandGovernance(ESG)Report,theProposalontheSpecialReportonDepositandUseofRaisedFundsin2022,theProposalon2022AnnualInternalControlEvaluationReport,theProposalonUseofIdleSelf-ownedFundforCashManagement,theProposalonProvidingCreditGuaranteesforCertainSubsidiaries,theProposalonApplyingforComprehensiveCreditLinetoBankin2023,theProposalontheWorkReportofIndependentDirectorsin2022,theProposalon |
| thePerformanceReportoftheAuditCommitteeoftheBoardofDirectorsfor2022,theProposalonAllowancefortheDirectorsoftheFifthBoardofDirectors,theProposalontheRemunerationofSeniorManagementin2022andRemunerationProgramfor2023,theProposalontheReappointmentoftheAccountingFirm,theProposalontheDepositofPartoftheRaisedFundsthroughDemandDeposits,NegotiableDeposits,andOtherFormsofCurrentAccountDeposits,theProposalonPurchasingLiabilityInsurancefortheCompanyanditsDirectors,SupervisorsandSeniorManagement,theProposalonAdjustingtheListofIncentiveRecipientsandtheNumberofSharesGrantedunderthe2023StockOptionIncentivePlan,theProposalonGrantingStockOptionstoIncentiveRecipients,theProposalonConveningtheAnnualGeneralMeetingofShareholdersin2022. | ||
| The7thMeetingoftheFifthBoardofDirectors | April26,2023 | ReviewedandadoptedtheProposalontheFirstQuarterReportof2023,theProposalonUsingBank-AcceptedBillstoPayforFundraisingInvestmentProjectsandReplacingwithanEquivalentAmountofRaisedFunds |
| The8thMeetingoftheFifthBoardofDirectors | May19,2023 | ReviewedandadoptedtheProposalonAdjustingtheNumberofSharesGrantedandtheRepurchasePriceunderthe2021RestrictedStockIncentivePlan,theProposalontheRepurchaseandCancellationoftheFirstGrantofRestrictedSharesunderthe2021RestrictedStockIncentivePlan,theProposalontheAchievementoftheUnlockingConditionsfortheFirstUnlockingPeriodoftheFirstGrantunderthe2021RestrictedStockIncentivePlan,theProposalonRenamingtheBoardofDirectors'StrategicCommittee,theProposalonChangingtheCompany’sRegisteredCapitalandAmendingtheArticlesofAssociation,andtheProposalonConveningtheSecondExtraordinaryGeneralMeetingofShareholdersin2023. |
| The9thMeetingoftheFifthBoardofDirectors | June15,2023 | ReviewedandadoptedtheProposalonUsingFundsRaisedthroughConvertibleCorporateBondstoReplaceSelf-raisedFundsPre-investedinFundraisingProjectsandPaidIssuanceExpenses,theProposalonFormulatingtheWorkingRulesfortheBoardofDirectors'StrategicandESGCommittee,andtheProposalonAddingMemberstotheBoardofDirectors'StrategicandESGCommittee. |
| The10thMeetingoftheFifthBoardofDirectors | June30,2023 | ReviewedandadoptedtheProposalonTemporarilyNotAdjustingtheConversionPriceoftheAimaCBintoShares. |
| The11thMeetingoftheFifthBoardofDirectors | August11,2023 | ReviewedandadoptedtheProposalonExtendingtheInvestmentPeriodforCertainProjectsFundedbytheInitialPublicOfferingProceeds. |
| The12thMeetingoftheFifthBoardofDirectors | August21,2023 | ReviewedandadoptedtheProposalontheSemi-annualReportof2023anditsSummary,theProposalontheSpecialReportonDepositandUseofRaisedFundsintheFirstHalfof2023,theProposalontheProfitDistributionPlanfortheFirstHalfof2023,theProposalonAdjustingtheNumberofSharesGrantedandtheExercisePriceunderthe2023StockOptionIncentivePlan,theProposalontheAchievementoftheConditionsforLiftingtheFirstRestrictionPeriodforReservedSharesunderthe2021RestrictedStockIncentivePlan,andtheProposalonConveningtheThirdExtraordinaryGeneralMeetingofShareholdersin2023. |
| The13thMeetingoftheFifthBoardofDirectors | August28,2023 | ReviewedandadoptedtheProposalonRepurchasingCompanySharesthroughCentralizedBidding. |
| The14thMeetingoftheFifthBoardofDirectors | October23,2023 | ReviewedandadoptedtheProposalontheThirdQuarterReportof2023. |
| The15thMeetingoftheFifthBoardofDirectors | October27,2023 | ReviewedandadoptedtheProposalonTemporarilyNotAdjustingtheConversionPriceoftheAimaCBintoShares. |
| The16thMeetingofthe | December | ReviewedandadoptedtheProposalonEstimatedDailyRelated |
| FifthBoardofDirectors | 27,2023 | TransactionsoftheCompanyanditsSubsidiariesin2023,theProposalonAmendingtheWorkingRulesforIndependentDirectorsandtheProposalonAdjustingtheMembersoftheBoardofDirectors'AuditCommittee. |
VI.PerformanceofDutybyDirectors(I)Attendanceofboardmeetingsandgeneralmeetingsbydirectors
| Nameofdirector | Independentdirectorornot | Attendanceatboardmeetings | AttendancesatGeneralmeetings | |||||
| RequiredattendancesofBoardmeetings | Attendanceinperson | Attendancebytelecommunication | Attendancebyproxy | Absence | Absencefromtwoconsecutivemeetingsinpersonornot | Numberofattendanceofgeneralmeetings | ||
| ZhangJian | No | 13 | 13 | 11 | 0 | 0 | No | 4 |
| DuanHua | No | 13 | 13 | 11 | 0 | 0 | No | 4 |
| ZhangGege | No | 13 | 13 | 11 | 0 | 0 | No | 4 |
| PengWei | No | 13 | 13 | 11 | 0 | 0 | No | 4 |
| GaoHui | No | 13 | 13 | 11 | 0 | 0 | No | 4 |
| WangChunyan | No | 13 | 13 | 11 | 0 | 0 | No | 4 |
| SunMinggui | Yes | 13 | 13 | 13 | 0 | 0 | No | 4 |
| MaJunsheng | Yes | 13 | 13 | 13 | 0 | 0 | No | 4 |
| LiuJunfeng | Yes | 13 | 13 | 12 | 0 | 0 | No | 4 |
ExplanationforabsencefromtwoconsecutiveBoardmeetingsinperson.?Applicable√Notapplicable
| NumberofBoardmeetingsheldintheyear | 13 |
| Ofwhich:Numberofon-sitemeetings | 0 |
| Numberofmeetingsheldbytelecommunication | 11 |
| Numberofmeetingsheldbothonsiteandbytelecommunication | 2 |
(II)ObjectionsraisedbydirectorsonmattersoftheCompany?Applicable√Notapplicable(III)Others?Applicable√NotapplicableVII.SpecializedCommitteesundertheBoardofDirectors?Applicable√Notapplicable
(1)Membersofthespecializedcommittees
| Specializedcommittees | Members |
| AuditCommittee | MaJunsheng,SunMinggui,LiuJunfeng |
| NominationCommittee | LiuJunfeng,ZhangJian,MaJunsheng |
| RemunerationandAppraisalCommittee | SunMinggui,DuanHua,LiuJunfeng |
| StrategyandESGCommittee | ZhangJian,SunMinggui,LiuJunfeng,MaJunsheng,WangChunyan |
(2)TheAuditCommitteeheldfourmeetingsduringthereportingperiod.
| Conveningdate | Contentofmeeting | Importantcommentsandsuggestions | Otherperformanceofduties |
| April7,2023 | ReviewedtheProposalontheAnnualReportof2022 | Agreedtosubmitfor | Nil |
| anditsSummary,theProposalonthePlanforProfitDistributionandCapitalizationofCapitalReservesin2022,theProposalontheFinalFinancialReportof2022,theProposalontheSpecialReportonDepositandUseofRaisedFundsin2022,theProposalonthe2022InternalControlEvaluationReport,theProposalonReappointingtheFinancialAuditFirmandInternalControlAuditFirmfor2023. | BoardofDirectors'review | ||
| April26,2023 | ReviewedtheProposalontheFirstQuarterReportof2023. | AgreedtosubmitforBoardofDirectors'review | Nil |
| August21,2023 |
ReviewedtheProposalontheSemi-annualReportof2023anditsSummary,andtheProposalontheSpecialReportonDepositandUseofRaisedFundsintheFirstHalfof2023.
| AgreedtosubmitforBoardofDirectors'review | Nil | ||
| October23,2023 | ReviewedtheProposalontheThirdQuarterReportof2023. | AgreedtosubmitforBoardofDirectors'review | Nil |
(3)TheRemunerationandAppraisalCommitteeheldfourmeetingduringthereportingperiod
| Conveningdate | Contentofmeeting | Importantcommentsandsuggestions | Otherperformanceofduties |
| March20,2023 | ReviewedtheProposalonthe2023StockOptionIncentivePlan(Draft)andItsSummary,andtheProposalontheAssessmentandManagementMeasuresfortheImplementationofthe2023StockOptionIncentivePlan. | AgreedtosubmitforBoardofDirectors'review | Nil |
| April14,2023 | ReviewedtheProposalontheRemunerationofSeniorManagementin2022andRemunerationProgramfor2023,theProposalontheAllowancefortheDirectorsoftheFifthBoardofDirectors,theProposalonAdjustingtheListofIncentiveRecipientsandtheNumberofSharesGrantedunderthe2023StockOptionIncentivePlan,andtheProposalonGrantingStockOptionstoIncentiveRecipients. | AgreedtosubmitforBoardofDirectors'review | Nil |
| May19,2023 | ReviewedtheProposalonAdjustingtheNumberofSharesGrantedandtheRepurchasePriceunderthe2021RestrictedStockIncentivePlan,theProposalontheRepurchaseandCancellationoftheFirstGrantofRestrictedSharesunderthe2021RestrictedStockIncentivePlan,andtheProposalontheAchievementoftheUnlockingConditionsfortheFirstUnlockingPeriodoftheFirstGrantunderthe2021RestrictedStockIncentivePlan. | AgreedtosubmitforBoardofDirectors'review | Nil |
| August21,2023 | ReviewedtheProposalonAdjustingtheNumberofSharesGrantedandtheExercisePriceunderthe2023StockOptionIncentivePlan,andtheProposalontheAchievementoftheConditionsforLiftingtheFirstRestrictionPeriodforReservedSharesunderthe2021RestrictedStockIncentivePlan. | AgreedtosubmitforBoardofDirectors'review | Nil |
(4)StrategyandESGCommitteeheldtwomeetingsduringthereportingperiod.
| Conveningdate | Contentofmeeting | Importantcommentsandsuggestions | Otherperformanceofduties |
| February20,2023 | ReviewedtheProposalonFinalizingthePublicIssuancePlanforConvertibleCorporateBonds,theProposalonListingConvertibleCorporateBonds,and | AgreedtosubmitforBoardofDirectors'review | Nil |
| theProposalonOpeningSpecialAccountsforRaisedFundsandSigningSupervisoryAgreements. | |||
| April14,2023 | ReviewedtheProposalontheCompany’sStrategyandDevelopmentPlanning. | AgreedtosubmitforBoardofDirectors'review | Nil |
(5)SpecificationofObjections?Applicable√NotapplicableVIII.RisksDetectedbytheBoardofSupervisors?Applicable√NotapplicableIX.EmployeesoftheCompanyastheParentandItsPrincipalSubsidiariesatthePeriod-end(I)Employees
| Numberofin-serviceemployeesoftheCompanyastheparent | 1,671 |
| Numberofin-serviceemployeesofprincipalsubsidiaries | 7,808 |
| Totalnumberofin-serviceemployees | 9,479 |
| NumberofretireestowhomtheCompanyastheparentoritsprincipalsubsidiariesneedtopayretirementpensions | 0 |
| BreakdownbyFunction | |
| Function | Number |
| Production | 5,537 |
| Sales | 1,352 |
| Technical | 1,089 |
| Financial | 185 |
| Administrative | 1,316 |
| Total | 9,479 |
| BreakdownbyEducationBackground | |
| Education | Number(person) |
| Doctor | 5 |
| Master | 79 |
| Undergraduate | 1,487 |
| JuniorCollegeandTechnicalsecondaryschool | 1,789 |
| Highschoolandbelow | 6,119 |
| Total | 9,479 |
(II)Remunerationpolicy
√Applicable?NotapplicableTheCompanyhasestablishedanassessmentmechanismorientedtowardsresponsibilityoutcomesandacontribution-basedcompensationandbenefitssystem,implementingarelativelyfairinternalandcompetitiveexternalcompensationpolicy.TheformsofvaluedistributionwithintheCompanyincludeopportunities,authority,honors,salaries,bonuses,medicalinsurance,equity,dividends,andotherbenefits.(III)Trainingplans
√Applicable?NotapplicableTheCompanyprioritizestheappreciationofhumancapital,continuouslyconductingcustomizedprofessionalempowermenttrainingandimprovingtheorganizationalmechanismofprofessionalstudygroups,therebyadvancingthedevelopmentofaninternaltrainerteam.Inalignmentwithstrategicgoals,jobrequirements,andoperationalchallenges,theCompanyhasdevelopedtrainingprogramsthatmeetstrategicandbusinessneedsandconsistentlytracks
thepracticalapplicationoftheoreticalknowledge.TheCompanyhasestablishedathree-tiertrainingsystem,providingcomprehensiveprofessionalsupporttailoredtodifferentfunctionalareassuchasleadership,innovation,newretail,andservices.In2023,theCompanyconductedover700internalandexternaltrainingsessions,enhancingtheprofessionalskillsofmorethan500employees.(IV)Laboroutsourcing
√Applicable?Notapplicable
| Totalremunerationpaidforlaboroutsourcing | RMB149,292,977 |
X.PlanonProfitDistributionorConversionofCapitalReserve(I)Formulation,implementationoradjustmentofthecashdividendpolicy
√Applicable?Notapplicable
1、FormulationoftheCashDividendPolicyTheCompanyhasclearlystipulatedtheprinciples,decision-makingmechanisms,distributionstandards,andratiosforprofitdistributionintheArticlesofAssociationandtheShareholderReturnPlan.Theseprovisionscomplywithrelevantregulatorydocuments,includingtheGuidelinesfortheSupervisionofListedCompaniesNo.3-CashDividendsofListedCompanies(revisedin2023)andtheSelf-RegulatorySupervisionGuidelinesforListedCompaniesNo.5-EquityDistribution(revisedinFebruary2023).
2、ImplementationoftheCashDividendPolicy
（1）TheCompany's2023Semi-AnnualProfitDistributionPlanwasreviewedandapprovedatthe12thmeetingoftheFifthBoardofDirectors.Inthefirsthalfof2023,basedonthetotalsharecapitalof861,924,656sharesbeforetheimplementationoftheplan,theCompanydistributedacashdividendof3.48yuan(inclusiveoftax)per10sharestoallshareholders,totaling299,949,780.29yuanincashdividends.
（2）Duringthereportingperiod,theCompanyrepurchasedsharesusingitsownfundsthroughcentralizedbidding,withthetotalamountreaching399,920,800.87yuan(excludingtransactioncommissionsandotherfees).
（3）TheCompany's2023AnnualProfitDistributionPlanwasreviewedandapprovedatthe21stmeetingoftheFifthBoardofDirectors.In2023,theCompanyplanstodistributeacashdividendof5.34yuan(inclusiveoftax)per10sharestoallshareholders.AsofDecember31,2023,theCompany’stotalsharecapitalis861,925,007shares.Afterdeductingthe14,130,524sharesintheCompany’ssharerepurchaseaccount,thebasisfordistributionis847,794,483shares,resultinginatotalproposedcashdividendof452,722,253.92yuan(inclusiveoftax).Fortheyear,theCompany’scashdividend(including299,949,780.29yuancashdividendalreadydistributedforthefirsthalfof2023)accountsfor40.01%ofthetotal.FromthedateofdisclosureofthisReporttotheequityregistrationdatefortheimplementationofequitydistribution,Duetochangesinthetotalsharecapitalorthenumberofsharesinthesharerepurchaseaccountresultingfromtheconversionofconvertiblebonds,sharerepurchases,theuseofrepurchasedsharesforgrantingrestrictedstockunderequityincentives,therepurchaseandcancellationofsharesgrantedunderequityincentives,andtherepurchaseandcancellationofsharesrelatedtosignificantassetrestructurings,theCompanyintendstomaintaintheratioofdistributionandconversionunchanged,andcorrespondinglyadjusttheamountofprofitdistributionandcapitalreservecapitalization.Thismatterneedstobesubmittedtothe2023annualgeneralmeetingoftheCompanyforconsideration.(II)Specialdescriptionofcashdividendpolicy
√Applicable?Notapplicable
| WhetherincompliancewithregulationsoftheArticlesofAssociationand | √Yes□No |
| requirementsoftheresolutionsofthegeneralmeeting | |
| Whetherthestandardandratioofdividendswereclear | √Yes□No |
| Whetherrelevantproceduresandmechanismsfordecision-makingwereCompleteandcomprehensive | √Yes□No |
| Whetherindependentdirectorsperformedtheirdutiesandresponsibilities | √Yes□No |
Whetherminorityshareholdersweregiventheopportunitytofullyexpresstheirviewsanddemands,andwhethertheirlegitimateinterestswereadequatelyprotected
(III)If,duringthereportingperiod,theCompanywasprofitableandtheparentCompany'sprofitsavailablefordistributiontoshareholderswerepositive,butnocashdividenddistributionplanwasproposed,theCompanyshouldprovideadetaileddisclosureofthereasonsandtheintendedusesandplansfortheundistributedprofits.?Applicable√Notapplicable(IV)ProfitDistributionandCapitalizationofCapitalReservesduringthereportingperiod
√Applicable?Notapplicable
√Yes□NoNumberofbonussharesforevery10shares
| Numberofbonussharesforevery10shares | 0 |
| Dividendsforevery10shares(RMB)(tax-inclusive) | 8.82 |
| Numberofsharesconvertedfromcapitalreservesforevery10shares | 0 |
| Amountofcashdividends(tax-inclusive) | 752,672,034.21 |
| NetprofitattributabletocommonshareholdersoftheCompanyintheannualconsolidatedstatementofdividends | 1,881,115,782.35 |
| PercentageofthenetprofitattributabletocommonshareholdersoftheCompanyintheconsolidatedstatements(%) | 40.01 |
| Sharesrepurchasedincashwhicharerecognizedascashdividends | 399,920,800.87 |
| Totalamountofdividends(tax-inclusive) | 1,152,592,835.08 |
| PercentageoftotaldividendsinthenetprofitattributabletocommonshareholdersoftheCompanyintheconsolidatedstatements(%) | 61.27 |
XI.StatusandImpactofShareIncentiveSchemes,EmployeeShareholdingPlanorOtherIncentiveMeasuresforEmployees(I)Relevantincentivemattersdisclosedintemporaryannouncementwithnosubsequentprogressorchange
√Applicable?Notapplicable
| Overview | Indextothedisclosedinformation | |
| 2023StockOptionIncentivePlan | OnMarch20,2023,the5thMeetingoftheFifthBoardofDirectorsdecidedtoimplementthe2023StockOptionIncentivePlan,proposingtogrant4.812millionstockoptionstoincentiverecipientsatagrantpriceof48.07yuanperoption. | SeetherelevantannouncementsdisclosedonthewebsiteofShanghaiStockExchangeonMarch21,2023fordetails. |
| OnApril3,2023,afterthepublicannouncementperiodforthelistofincentiverecipients,2proposedincentiverecipientsresigned,reducingthenumberofincentiverecipientsfrom328to326. | SeetherelevantannouncementsdisclosedonthewebsiteofShanghaiStockExchangeonApril7,2023fordetails. | |
| OnApril14,2023,theFirstExtraordinaryGeneralMeetingofShareholdersin2023approvedtheimplementationofthe2023StockOptionIncentivePlanandauthorizedtheboardofdirectorstohandlerelatedmatters.The6thMeetingoftheFifthBoardofDirectorsapprovedtheadjustmentofthelistofincentiverecipientsandthenumberofstockoptionsgrantedunderthe2023StockOptionIncentivePlan,anddecidedtogrant4.776 | SeetherelevantannouncementsdisclosedonthewebsiteofShanghaiStockExchangeonApril15,2023fordetails. |
| millionstockoptionsto324incentiverecipients,withthegrantdatesetasApril14,2023. | ||
| OnApril19,2023,theCompanycompletedthestockoptionincentiveplanof2023withChinaSecuritiesDepositoryandClearingCorporationLimitedShanghaiBranch. | SeetherelevantannouncementsdisclosedonthewebsiteofShanghaiStockExchangeonApril21,2023fordetails. | |
| OnAugust21,2023,the12thMeetingoftheFifthBoardofDirectorsapprovedtheadjustmentofthenumberofstockoptionsgrantedandtheexercisepriceunderthe2023StockOptionIncentivePlanduetotheimplementationofequitydistribution.Theadjustednumberofstockoptionsgrantedis7.164million,andtheexercisepriceis31.18yuanperoption. | SeetherelevantannouncementsdisclosedonthewebsiteofShanghaiStockExchangeonAugust22,2023fordetails. | |
| 2021RestrictedStockIncentivePlan | OnMay19,2023,the8thMeetingoftheFifthBoardofDirectorsapprovedtheadjustmentofthenumberofsharesgrantedandtherepurchasepriceunderthe2021RestrictedStockIncentivePlanduetotheimplementationofequitydistribution.Theadjustednumberofsharesgrantedis14.364million,andtherepurchasepriceis8.53yuanpershare.Additionally,themeetingapprovedtherepurchaseandcancellationof126,000restrictedsharesheldby4incentiverecipientswhonolongerqualifyduetoresignation.Themeetingalsoconfirmedtheachievementoftheconditionsforliftingtherestrictionsonthefirstbatchofrestrictedsharesgrantedunderthe2021RestrictedStockIncentivePlan,allowing97incentiverecipientstounlockatotalof4.158millionshares. | SeetherelevantannouncementsdisclosedonthewebsiteofShanghaiStockExchangeonMay20,2023fordetails. |
| OnJune1,2023,thefirstbatchof4.158millionsharesgrantedunderthe2021RestrictedStockIncentivePlanwereunlockedandmadeavailablefortrading. | SeetherelevantannouncementsdisclosedonthewebsiteofShanghaiStockExchangeonMay26,2023fordetails. | |
| OnJuly27,2023,theCompanycompletedtherepurchaseandcancellationof126,000restrictedsharesheldby4incentiverecipientswhonolongerqualifiedduetoresignation. | SeetherelevantannouncementsdisclosedonthewebsiteofShanghaiStockExchangeonJuly25,2023fordetails. | |
| OnAugust21,2023,the12thMeetingoftheFifthBoardofDirectorsapprovedtheachievementoftheconditionsforliftingtherestrictionsonthefirstbatchofreservedsharesgrantedunderthe2021RestrictedStockIncentivePlan,allowing14incentiverecipientstounlockatotalof113,400shares.TheshareswillbeavailablefortradingonAugust28,2023. | SeetherelevantannouncementsdisclosedonthewebsiteofShanghaiStockExchangeonAugust22,2023fordetails. |
(II)IncentivesnotdisclosedintemporaryannouncementorwithsubsequentprogressEquityincentivesituation?Applicable√NotapplicableOtherdescription?Applicable√NotapplicableEmployeestockownershipplan?Applicable√NotapplicableOtherincentivemeasures?Applicable√Notapplicable
(III)Equityincentivesgrantedtodirectorsandseniormanagementduringthereportingperiod?Applicable√Notapplicable
√Applicable?NotapplicableIn:Share
| Name | Position | RestrictedSharesheldattheperiod-begin | RestrictedSharesgrantedinthereportingperiod | Grantprice(Yuan) | Unlockedshares | Sharesstillinlockup | Restrictedsharesheldattheperiod-end | Marketvalueattheendofreportingperiod(Yuan) |
| GaoHui | Director,ViceGM | 1,680,000 | 0 | / | 756,000 | 1,764,000 | 1,764,000 | 25.04 |
| LuoQingyi | ViceGM | 840,000 | 0 | / | 378,000 | 882,000 | 882,000 | 25.04 |
| ZhengHui | ViceGM,ChiefFinancialOfficer | 560,000 | 0 | / | 252,000 | 588,000 | 588,000 | 25.04 |
| Total | / | 3,080,000 | 0 | / | 1,386,000 | 3,234,000 | 3,234,000 | / |
Note:InMay2023,theCompanyimplementedthe2022annualequitydistribution,issuing5additionalsharesforevery10sharestoallshareholdersfromthecapitalreserve.Thenumberofrestrictedsharesheldbyincentiverecipientsincreasedproportionally.(IV)Formulationandimplementationofappraisalandincentivemechanismsforseniormanagementduringthereportingperiod
√Applicable?NotapplicableTheCompany'sappraisalandincentivemechanismsforseniormanagementarebasedon"developingalongsidetheorganizationandachievingorganizationalgoals".Suitableperformanceindicatorsareselectedaccordingtobusinesscharacteristics,includingfinancial,operational,qualitymetrics,keyevents,andvetoitems.TheCompanysetsreasonableshort-termandlong-termperformancetargetsforthedepartmentsorbusinessunitstheyoversee,regularlymonitorsandensurestheachievementofthesetargets,andimplementsshort-termandlong-termincentivesbasedontheassessmentoutcomesandtheachievementoforganizationalgoals.XII.EstablishmentandImplementationofInternalControlSystemintheReportingPeriod
√Applicable?NotapplicableTheCompanyhasestablishedaninternalcontrolmanagementsysteminstrictcompliancewiththeregulatoryrequirementsoftheChinaSecuritiesRegulatoryCommissionandtheShanghaiStockExchange,andhascontinuouslyrefineditinalignmentwithitsoperationalrealities.In2023,theCompanymaintainedeffectiveinternalcontrolsoverfinancialreportinginallsignificantaspectsasmandatedbythecorporateinternalcontrolstandardsandrelatedregulations,withnomajordeficienciesidentified.Fordetailedinformation,pleaserefertothe2023AnnualInternalControlEvaluationReportdisclosedonthewebsiteoftheShanghaiStockExchange.Descriptionofmajordefectsexistingininternalcontrolinthereportingperiod.?Applicable√NotapplicableXIII.ManagementandControlofSubsidiariesduringtheReportingPeriod
√Applicable?Notapplicable
TheCompanyrigorouslyadherestolaws,regulations,andnormativedocumentsfromregulatoryauthorities,usingtheSubsidiaryManagementSystemapprovedbytheBoardofDirectorsasafoundation.Iteffectivelymanagesandsupervisespersonnel,finance,operations,investmentdecisions,informationdisclosure,auditoversight,andthemanagementofarchivesandsealsacrossitssubsidiaries.Thisensuresstandardizedmanagementandriskcontrolofsubsidiaries.InlinewiththeCompany’soverallstrategicplanning,subsidiariesarerequiredtodeveloprelevantbusinessoperationplans,riskmanagementprocedures,andinternalcontrolsystems,continuallyenhancingthestandardizationoftheiroperations.XIV.InformationabouttheInternalControlAuditReport
√Applicable?NotapplicableTheCompanyengagedErnst&YoungHuaMingLLP(aspecialgeneralpartnership)toaudittheimplementationofinternalcontrolsfortheyear2023andissuedastandardunqualifiedInternalControlAuditReport.Fordetails,seetheInternalControlAuditReport2023disclosedonthesamedayastheAnnualReport.Disclosureoftheinternalcontrolauditreport:YesOpiniontypeoftheinternalcontrolauditreport:standardunqualifiedopinionsXV.RectificationofIssuesinSelf-inspectionofSpecialActionsforGovernanceoftheListedCompanyNotapplicableXVI.Others?Applicable√Notapplicable
Section5EnvironmentalandSocialResponsibilities
I.EnvironmentalInformation
| Whetherthereisanenvironmentalprotectionmechanisminplace | Yes |
| Investmentinenvironmentalprotectionduringthereportingperiod(intenthousandyuan) | 1,819.85 |
(I)EnvironmentalprotectionstatusoftheCompanyanditsmainsubsidiariesaskeypollutantdischargingentitiespublishedbytheenvironmentalprotectiondepartment
1.Informationonpollutantdischarging
√Applicable?NotapplicableAccordingtothe“AnnouncementontheListofKeyEnvironmentalSupervisionUnitsinTianjinfor2023”issuedbytheTianjinMunicipalBureauofEcologyandEnvironment,theGroup'ssubsidiaryTianjinVehiclewasdesignatedinMarch2023asakeyairpollutantemissionunit,akeywaterpollutantemissionunit,andakeyenvironmentalriskmanagementunitinTianjin.Accordingtothe“NoticeonIssuingtheListofKeyEnvironmentalSupervisionUnitsfor2023”bytheShangqiuMunicipalBureauofEcologyandEnvironment,theCompany'ssubsidiary,HenanVehicle,wasdesignatedinApril2023asakeyenvironmentalriskmanagementunitinShangqiu.TianjinVehicleandHenanVehiclecomplywiththerelevantrequirementsoflaws,regulations,andemissionpermits.TheydiscloserelevantinformationthroughtheNationalEmissionPermitManagementInformationPlatform,includingthenamesofmajorpollutants,emissionmethods,emissionconcentrations,andtotalemissions,aswellastheconstructionandoperationofpollutioncontrolfacilities,therebyallowingforpublicsupervision.
2.Constructionandoperationsituationofpollutionpreventionandcontrolfacilities
√Applicable?NotapplicableTianjinVehicleandHenanVehiclehaveconstructedvariouspollutanttreatmentfacilitiesstrictlyaccordingtoregulations,standards,environmentalimpactassessmentandapprovalrequirements,andthesepollutanttreatmentfacilitiesareoperatingwell.Theyhavestrictlyexecutednational,localdischargingstandardstoensurethatthepollutantdischargingconcentrationmeetthestandards,andthesolidwastehasbeenproperlydisposed.Detailsareasfollows:
(1)TianjinVehicleThemainairpollutantsformTianjinVehicleincludepaintsprayinganddryingexhaust,powdersprayingexhaust,powdercuringexhaust,andgascombustionexhaust.Theprimarypollutantfactorsaredust,toluene,xylene,VOCs,soot,SO2,andNOx.Allpaintingbooths,levelingrooms,anddryingroomsofeachproductionlinearesealed.Theorganicexhaustgasisprimarilypurifiedthrougha"dryfiltercotton+zeoliterotoradsorption+RTO"systemandthendischargedthroughexhauststacks.Themainexhaustoutletsofthecoatingworkshopareequippedwithonlinemonitoringinstruments,whichareconnectedtotheTianjinMunicipalBureauofEcologyandEnvironment,enablingreal-timemonitoringofairpollutantemissions.TheCompany'sexhaustgastreatmentfacilitiesareoperatingwell,andtheemissionlevelsoftoluene,xylene,VOCs,particulatematter,soot,SO2,andNOxmeettheemissionstandards.ThewastewaterdischargedbyTianjinVehicleincludesproductionwastewateranddomesticsewage,withafocusonmonitoringpaintingwastewater.ThemainpollutantfactorsincludepH,COD,BOD5,SS,ammonianitrogen,totalphosphorus,totalnitrogen,andpetroleumsubstances.Theplanthasasewagetreatmentstationwithacapacityof500m?/d,whichtreatsproductionwastewater,includingpaintingwastewater.Thetreatmentprocessinvolves"flocculationsedimentation+micro-electrolysis+Fenton+biologicalcontactoxidation".The
treatedwatermeetstheClassIIIstandardofthe"IntegratedWastewaterDischargeStandard"(DB12/356-2018)andisthendischargedintotheTianyuSewageTreatmentPlantoftheZiyaEconomicandTechnologicalDevelopmentZoneHigh-TechIndustrialParkthroughthepark'ssewagepipelinenetworkforfurthertreatment.Additionally,theplantimplementsaseparationsystemforrainwaterandsewage,withflowdirectionsmarkedonthesewageandrainwaterpipelines.Productionwastewater,domesticsewage,andrainwateraredischargedseparately.Thetreatedwastewaterflowsthroughthemunicipalpipelinenetworktoaspecializedsewagetreatmentplant.Theplant'ssewagetreatmentfacilitiesareoperatingwell,andthedischargelevelsofvariouspollutantfactorsmeetthestandards.Themainsewagedischargeoutletoftheplantisequippedwithonlinemonitoringinstruments,whichareconnectedtotheTianjinMunicipalBureauofEcologyandEnvironment,enablingreal-timemonitoringofthecomplianceofexternalwastewaterdischarge.TianjinVehiclehasfacilitiessuchasahazardouswastetemporarystorageroomandageneralsolidwasterecyclingarea.Theconstructionofthehazardouswastetemporarystorageroomcomplieswiththestandardsofthe“PollutionControlStandardforHazardousWasteStorage”.Generalindustrialsolidwasteissorted,withrecyclablematerialshandedovertothird-partyprofessionalagenciesforrecycling.Productionanddomesticwastearecollectedandperiodicallyremovedbysanitationdepartments,whilehazardouswasteissafelydisposedofbyqualifiedprofessionalcompanies.In2023,allhazardouswastegeneratedbyTianjinVehiclewastransferredanddisposedofincompliancewithlegalrequirements.Inadditiontotheaforementionedenvironmentalprotectionmeasures,TianjinVehiclehasalsoimplementedcorrespondingmeasurestocontrolnoise,ensuringcompliancewithnationalandlocalenvironmentalprotectionrequirements.
(2)HenanVehicleThemainpollutantfactorsinthewastewaterdischargedbyHenanVehicleincludepH,COD,ammonianitrogen,SS,andtotalphosphorus.Theplanthasawastewatertreatmentstationwithacapacityof100m?/dtotreatproductionwastewater,usingaprocessof"pretreatment+physicochemicalreaction+filtration+biochemicaltreatment".Thetreatedproductionanddomesticwastewateraredischargedintoaspecializedmunicipalsewagetreatmentplant.Theplant'ssewagetreatmentfacilitiesareoperatingwell,andthedischargelevelsofvariouspollutantfactorsmeetthestandards；HenanVehiclehasfacilitiessuchasahazardouswastetemporarystorageroomandageneralsolidwasterecyclingarea.Theconstructionofthehazardouswastetemporarystorageroomcomplieswiththestandardsofthe"PollutionControlStandardforHazardousWasteStorage”.Generalindustrialsolidwasteissorted,withrecyclablematerialshandedovertoqualifiedunitsforrecycling.Productionanddomesticwasteiscollectedandperiodicallyremovedbysanitationdepartments,whilehazardouswasteissafelydisposedofbyqualifiedprofessionalcompanies.In2023,allhazardouswastegeneratedbyHenanVehiclewastransferredanddisposedofincompliancewithlegalrequirements.Inadditiontotheaforementionedenvironmentalprotectionmeasures,HenanVehiclehasalsoimplementedcorrespondingmeasurestocontrolexhaustgasandnoise,ensuringcompliancewithnationalandlocalenvironmentalprotectionrequirements.
3.Environmentalimpactassessmentofconstructionprojectandotheradministrativelicensesforenvironmentalprotection
√Applicable?NotapplicableStrictlyaccordingtotherequirementsoflawsandregulations,theCompanypreparesenvironmentalimpactassessment(EIA)documentsandobtainsEIAapprovalfornewandexpandingprojectsrequiringenvironmentalprotocols,constructingstrictlyinaccordancewithlegalandregulatoryrequirements.TheCompanyperformsthecompletionandacceptanceproceduresofenvironmentalprotectionaccordingtolawsandregulationsafterthecompletionoftheconstruction.
4.Emergencyplanforenvironmentalaccident
√Applicable?NotapplicableTianjinVehicleandHenanVehiclefiledtheircontingencyplansforenvironmentalemergenciesinlocalenvironmentalprotectionadministrationsinAugust2021andAugust2022respectivelyandreceivedthecorrespondingfilingreceipt.Theyfurtherinspectedrisksourcesandtookrelevantcorrectivemeasurestoimproveenvironmentalriskpreventionmechanism,andreducethepossibilityofenvironmentalriskaccidents.TianjinVehicleandHenanVehiclehaveorganizedrelevantpersonneleveryyeartocarryoutemergencydrillsforenvironmentalriskaccidentsinordertoimproveemergencyresponsecapacities.
5.Environmentalself-monitoringprogram
√Applicable?NotapplicableTianjinVehicleandHenanVehiclehaveonlinemonitoringsystemsinstalledatthemainwastegasandwastewaterdischargingportsforreal-timemonitoringofprincipalpollutants,andmonitoringdataisdirectlyuploadedtoenvironmentalprotectiondataplatform,variouspollutantsaredischargedinconformitywithrelevantstandards.TianjinVehicleandHenanVehiclemaintainoperationandmaintenancerecordsforwastegasandwastewatertreatmentfacilities,aswellassolidandhazardouswaste,indailyproduction.TianjinVehicleandHenanVehicleentrustsqualifiedtestinginstitutionstoregularlymonitorwastewater,wastegasandnoisestrictlyinaccordancewith“Self-MonitoringTechnicalGuidanceforPollutantDischargingEntities”andotherstandards,aswellasmonitoringfrequencyrequirementofenvironmentalimpactevaluationdocumentsandpollutantdischarginglicense.Thetestingreportisuploadedtothepollutionsourcemonitoringdatamanagementandinformationsharingplatform.
6.Administrativepenaltyduetoenvironmentalissuesinthereportingperiod?Applicable√Notapplicable
7.Otherenvironmentalinformationthatshouldbedisclosed?Applicable√Notapplicable(II)Descriptionofenvironmentalprotectionsituationofcompaniesotherthanthosedefinedaskeypollutant-dischargingentities
√Applicable?Notapplicable
1.Administrativepenaltyduetoenvironmentalissues?Applicable√Notapplicable
2.Otherenvironmentalinformationdisclosedwithreferencetokeypollutant-dischargingentities
√Applicable?NotapplicableTheCompanyupholdstheconceptofgreenandhigh-qualitydevelopment,prioritizinggreenproduction.Itthoroughlyimplementstheprinciplesofsustainabledevelopment,environmentalprotection,andgreenlow-carbonpracticesinallbusinessactivities.TheCompanyhasestablishedacomprehensivegreenmanagementsystem,integratingitintoallaspectsofproductionoperationsandenvironmentaldevelopment.Thisapproachaimstocreateamodernproductionenterprisecharacterizedbygreenproducts,cleanproduction,beautifulenvironment,andscientificmanagement.TheCompanyanditssubsidiariescontinuouslyimprovetheenvironmentalmanagementsystemtopromotehigh-qualitydevelopment.Severalsubsidiarieshavealreadyobtainedenvironmentalmanagementsystemcertification.TheCompanyanditssubsidiariesstrictlyabidebyrelevantlaws,regulationsandstandards.Allnew,reconstructionandexpansionprojectshavegonethroughtheEIAprocedures,withtheirconstructioncontentsconsistentwiththeEIAapproval,andhavepassedthecompletionacceptanceofenvironmentalprotection.Relevantsubsidiariesactivelymanagetheoperationofpollutantpreventionandcontrolfacilitiestoensuresatisfactorytreatmentcapacityofthe
facilities,strictlyimplementthemanagementregulationsofpollutantdischargelicenses,carryoutdailyandregularmonitoringofpollutants,andrealizeup-to-standarddischargeofwastegas,wastewaterandnoiseandcompliantdisposalofsolidwaste.Allrelevantsubsidiarieshavedevelopedemergencyplansforsuddenenvironmentalincidentsasrequired,andorganizedregulardrills.
3.Reasonsofnotdisclosingotherenvironmentalinformation?Applicable√Notapplicable(III)Relevantinformationfavorabletoecologicalprotection,pollutionpreventionandcontrolandenvironmentalresponsibilityfulfillment
√Applicable?NotapplicableTheCompanyintegratestheconceptofsustainabledevelopmentintoitsproductionandoperation,strengthensthegreenmanagementthroughouttheproductlifecyclebyestablishingandimprovingtheenvironmentalmanagementsystem,constantlyimprovestheutilizationefficiencyofresourcesandenergy,andactivelycreatesanefficient,clean,low-carbonandrecyclinggreenmanufacturingsystem.TheCompanyanditssubsidiariesregularlyinspectandimprovehigh-energy-consumingequipment,enhancetheanalysisofenergyconsumptionandimprovetheenergyutilizationrate;activelyselectsenergy-savingandwater-savingproducts,extensivelyusesrecyclablepackaging,andworkstoextendthelifespanofturnoverboxes,inanefforttoreducetheconsumptionofresourcesandenergy.(IV)Measurestakenduringthereportingperiodtoreducecarbonemissionandtheireffectiveness
| Whethercarbonemissionreductionmeasuresweretaken | Yes |
| ReductioninCO2equivalentemissions(Unit:Ton) | 84.42 |
| Carbonreductionmeasures(e.g.,usingcleanenergyinpowergeneration,usingcarbonreductiontechnologiesinproduction,developingandproducingnewproductsforcarbonreduction) | TianjinVehiclehasaddedanewvacuumpaintsludgedryingmachine.Thismachinecanremovemorethan75%ofthewatercontentfromsolidwastepaintsludgethroughthedryingprocess.Withadailyprocessingcapacityof4,000kg,thedriedpaintsludgeisreducedtolessthan1,000kg.Thiseffectivelyreducesenergyconsumptioninsubsequentsolidwastetreatmentprocesses,significantlyloweringcarbonemissionsinthesolidwastetreatmentphase.Additionally,theentiredryingprocessforthepaintsludgeisconductedinasealedvacuumstate,andtheresultinggasesaretreatedwithspecializedequipmenttopreventenvironmentalpollution. |
Detaileddescription?Applicable√NotapplicableII.PerformanceofSocialResponsibilities(I)Whetherasocialresponsibilityreport,sustainabledevelopmentreportorESGreportwasdisclosedseparately
√Applicable?NotapplicableFordetailsabouttheCompany’sperformanceofitssocialresponsibilities,pleaserefertotheEnvironmental,SocialandGovernance(ESG)Report2023publishedonthesamedayastheAnnualReportof2023.(II)Detailsofsocialresponsibilityworks
√Applicable?Notapplicable
| Donationandpublicwelfareprojects | Quantity/Content | Descriptions |
| Totalinvestment(inTenThousandYuan) | 612.11 | Mainlyforcharitabledonations,educationdonation,etc. |
Detaileddescription?Applicable√NotapplicableIII.ParticularsontheEffortstoConsolidateandExpandItsAchievementsinPovertyAlleviationandRuralAreaInvigoration
√Applicable?Notapplicable
| Povertyalleviationandruralrevitalizationprojects | Quantity/Content |
| Totalinvestment(inTenThousandYuan) | 3.00 |
| Including:funds(inTenThousandYuan) | 3.00 |
| Formsofassistance(e.g.,povertyalleviationthroughindustrialdevelopment,povertyalleviationthroughemployment,povertyalleviationthrougheducation,etc.) | TheCompanyactivelyfulfillsitscorporatesocialresponsibility,engaginginpublicwelfareactivitiesandfocusingonruralrevitalizationandeducationaldevelopment.InAugust2023,theCompanymadeaspecialdonationthroughtheGuigangCityGangbeiCommunistYouthLeaguetosupportstudentsfromfinanciallydisadvantagedfamiliesinWuleTown,GangbeiDistrict.Thisdonationwasusedtocovertuitionfeesandlivingexpenses,contributingtotheruralrevitalizationandeducationaldevelopmentofWuleTown.InJuly2023,theCompanydonatedtothe"6.30SupportRuralRevitalization"charityeventinDongguanCity. |
Detaileddescription?Applicable√Notapplicable
Section6SignificantEvents
I.FulfillmentofCommitments(I)CommitmentsoftheCompany’sactualcontroller,shareholders,relatedparties,acquirer,aswellastheCompanyandotherrelevantentitiesduringoruptothereportingperiod
√Applicable?Notapplicable
| CommitmentBackground | CommitmentCategory | Promisor | CommitmentDescription | CommitmentDuration | Whetherthereisadeadlineforimplementation | Whetheritistimelyandstrictlyperformed | Ifitisnottimelyperformed,thespecificreasonsshouldbestated | Ifitisnottimelyperformed,theplanforthefurtherstepshouldbestated |
| CommitmentsrelatedtoIPO | Restrictedshares | ZhangJianandZhangGege | Note1 | June15,2021toJune14,2024 | Yes | Yes | N/A | N/A |
| Restrictedshares | YanchengDingaianditspartners | Note2 | June15,2021toJune14,2024 | Yes | Yes | N/A | N/A | |
| Others | ZhangJian,ZhangGege,YanchengDingaianditspartners,LiuJianxin,PengWei | Note3 | Longterm | No | Yes | N/A | N/A | |
| Others | TheCompany,ZhangJian,ZhangGege,DuanHua,LiuJianxin,PengWei,FangHao,WangQuanzhang,LiYubao,HaoHong,WangChunyan,RenYong,HuYupeng | Note4 | June15,2021toJune14,2024 | Yes | Yes | N/A | N/A | |
| Solutiontopeercompetition | ZhangJianandZhangGege | Note5 | Longterm | No | Yes | N/A | N/A |
| Solutiontorelatedpartytransactions | ZhangJianandZhangGege | Note6 | Longterm | No | Yes | N/A | N/A | |
| Commitmentsrelatedtorefinancing | Restrictedshares | ZhangJian,ZhangGege,GaoHui,PengWei,WangChunyan,ZhengHui,LiYubao,LuoQingyi,DuanHua,LiuTingxu | Note7 | February23,2023toSeptember3,2023 | Yes | Yes | N/A | N/A |
| Others | SunMinggui,LiuJunfeng,MaJunsheng,XuPeng,LiYan | Note8 | February23,2023toSeptember3,2023 | Yes | Yes | N/A | N/A | |
| Others | ZhangJian,DuanHua,ZhangGege,GaoHui,PengWei,WangChunyan,SunMinggui,LiuJunfeng,MaJunsheng,ZhengHui,LiYubao,LuoQingyi | Note9 | Longterm | No | Yes | N/A | N/A |
Note1:Commitmenttolock-upofsharesforIPOTheCompany'scontrollingshareholdersandactualcontrollers,ZhangJianandZhangGege,havemadethefollowingcommitment:
FromthedateoftheCompany'sstocklisting,IshallnottransfernorentrustthemanagementofthesharesIdirectlyorindirectlyholdthatwereissuedpriortothepublicoffering,norshallIpermittheCompanytorepurchasethosesharesheldbyme,eitherdirectlyorindirectly,foraperiodofthirty-sixmonths.Upontheexpirationofthestatedlock-upperiod,Iwillestablishsubsequentshareholdingplansbasedoncommercialinvestmentprinciples,whilestrictlyadheringtotheregulationsoftheChinaSecuritiesRegulatoryCommissionandthestockexchanges.Shouldtherebeanintendedsaleoftheissuer'sstock,Iwillnotifytheissuerandmakeanannouncementthreetradingdaysinadvance,andwillproceedinaccordancewiththe"CompanyLawofthePeople'sRepublicofChina”,the"SecuritiesLawofthePeople'sRepublicofChina”,andotherrelevantregulationsoftheCSRCandstockexchanges.Ifthesaleistobeconductedthroughcentralizedcompetitivebiddingtransactions,Iwillreportandfilethereductionplanwiththestockexchanges15tradingdaysbeforetheinitialsaleofthesharesandmakeanannouncementaccordingly.Note2:Commitmenttolock-upofsharesforIPOTheCompany'sshareholderYanchengDingaianditspartnershavemadethefollowingcommitment:
FromthedateoftheCompany'sstocklisting,foraperiodofthirty-sixmonths,Iwillnottransferorentrustthemanagementofthesharesdirectlyorindirectlyheldbymyself/ourenterprisethatwereissuedpriortothepublicoffering,norwillIallowtheCompanytorepurchasethosesharesheldbymyself/ourenterprise,eitherdirectlyorindirectly.Note3:CommitmentregardingIntentionstoholdandreducesharesafterinitialpublicofferingTheCompany'scontrollingshareholdersandactualcontrollers,ZhangJian,ZhangGege,YanchengDingaianditspartners,LiuJianxin,andPengWei,madethefollowingcommitments:
(1)WhileservingasadirectororseniormanagementoftheCompany,Iwillnottransfermorethan25%ofthesharesIdirectlyorindirectlyholdintheCompanyannually;andIwillnottransferanysharesIdirectlyorindirectlyholdintheCompanywithinsixmonthsofresignation.
(2)Icommitthatifsharesarereducedwithintwoyearsaftertheexpirationofthelock-upperiod,thereductionpricewillnotbelowerthantheissuanceprice.Shouldtherebedividends,bonusshares,capitalreservetransferstoincreasesharecapital,rightsissues,etc.,thepricewillbeadjustedaccordinglybasedontheex-dividendandex-rightsstatus.
(3)Theabovecommitmentswillnotbewaivedduetochangesinposition,resignation,orsimilarreasons.Shouldnon-compliancewiththesecommitmentsresultinlossestotheCompanyorotherinvestors,IshallbearthelegalliabilitytocompensatetheCompanyorotherinvestorsasrequiredbylaw.Note4:CommitmenttostabilizetheCompany'sstockpriceandsharerepurchase
(1)TheCompanyhasmadethefollowingcommitment:
①WithinthreeyearsfromthedateofIPO,iftheclosingpriceoftheCompany'sstocksisconsistentlybelowthenetassetvaluepershareasperthemostrecentauditedfinancialstatementfor20consecutivetradingdays(adjustedaccordinglyifex-rightsandex-dividendsareduetocashdividends,bonusshares,capitalincreases,ornewshareissuance,thesamebelow),theCompanywillinitiatestockpricestabilizationmeasures—repurchasingCompanyshares—subjecttorelevantlaws,regulations,andprovisionswithoutcausingthesharedistributiontofalloutofcompliancewithlistingrequirements.
②TheCompany'sBoardofDirectorsshallconvenewithinfivetradingdaysfromthedaytheconditionsforinitiatingstockpricestabilizationmeasuresaremettodeliberatethesharerepurchaseplan,whichshallthenbesubmittedforshareholdermeetingapproval.TheCompanyshallcommencetherepurchaseonthetradingdayfollowingtheshareholdermeeting’sapprovalofsuchplan.③Thesharerepurchasepriceshallnotexceedthenetassetvaluepershareasperthemostrecentauditedfinancialstatement.Themethodsofrepurchasemayincludecentralizedcompetitivebidding,tenderoffers,orothermethodsapprovedbythesecuritiesregulatoryauthority.UnderthepremisethatitdoesnotcausetheCompany’ssharedistributiontofailtomeetthelistingrequirements,thefundsusedforeachsharerepurchasebytheCompanyshallnotbelessthanRMB10million,andthetotalfundsusedforpricestabilizationrepurchasesinasinglefiscalyearshallnotexceed
50%ofthenetprofitattributedtotheparentcompanyshareholdersasperthemostrecentauditedfinancialstatement.ThecumulativetotalfundsusedforsharerepurchasesshallnotexceedthetotalfundsraisedintheCompany’sinitialpublicoffering.
④Ifanyconditionspecifiedinthe"AimaTechnologyGroupCo.,Ltd.Three-YearPost-IPOStockPriceStabilizationPlan"thatterminatestheimplementationofstockpricestabilizationmeasuresistriggeredbetweenthetimethestockpricestabilizationplanisinitiatedandbeforetheformalimplementationofthestabilizationmeasuresorduringtheirimplementation,theabove-mentionedstockpricestabilizationplanshallbeterminated.⑤WithinthreeyearsfromthedatetheCompany’sstocksarelisted,ifnewdirectors(excludingindependentdirectors)orseniormanagementareappointed,theCompanywillrequirethesenewlyappointeddirectorsandseniormanagementtoadheretothecommitmentsmadebydirectorsandseniormanagementatthetimeoftheCompany’slisting.
(2)TheCompany’scontrollingshareholdersandactualcontrollers,ZhangJianandZhangGege,havemadethefollowingcommitment:
①WithinthreeyearsfromthedateofIPO,iftheclosingpriceoftheCompany'sstocksisconsistentlybelowthenetassetvaluepershareasperthemostrecentauditedfinancialstatementfor20consecutivetradingdays(adjustedaccordinglyifex-rightsandex-dividendsareduetocashdividends,bonusshares,capitalincreases,ornewshareissuance,thesamebelow),Iwill,accordingtorelevantlaws,regulations,andprovisions,initiatestockpricestabilizationmeasures—acquiringadditionalCompanyshares—ensuringitdoesnotcausetheCompany'ssharedistributiontofalloutofcompliancewithlistingrequirements.
②If,followingthecompletionoftheCompany’sstockpricestabilizationmeasures(asofficiallyannounced),theclosingpriceoftheCompany'sstocksremainsbelowthenetassetvaluepersharefor10consecutivetradingdaysoriftheclosingpriceisconsistentlybelowthenetassetvaluepersharefor20consecutivetradingdayswithinthreemonthsthereafter,Iwillinitiatestockpricestabilizationmeasures.③Withinfivetradingdaysfromthedaytheconditionsforinitiatingstockpricestabilizationmeasuresaremet,IwillproposeaplantoacquireadditionalCompanyshares(includingthenumberofsharestobeacquired,pricerange,andcompletiondeadline)andnotifytheCompany.TheCompanyshallannouncetheacquisitionplanaccordingtotherelevantregulations,andIwillbeginacquiringsharesonthetradingdayfollowingtheannouncement.
④ThepriceatwhichIacquiresharesshallnotexceedthenetassetvaluepershareattheendofthelastfiscalyearasaudited.ThenumberofsharesIacquireinatwelve-monthperiodfromthedatetheconditionsforinitiatingstockpricestabilizationmeasuresaretriggeredshallnotexceed1%ofthetotalnumberofCompanyshares,andthefundsIuseforacquiringsharesshallbeatleast30%ofthetotalamountofdirectorindirectafter-taxcashdividendsandafter-taxsalariesorallowancesIreceivedfromtheCompanyinthepreviousyear.
⑤Ifanyconditionspecifiedinthe"AimaTechnologyGroupCo.,Ltd.Three-YearPost-IPOStockPriceStabilizationPlan"thatterminatestheimplementationofstockpricestabilizationmeasuresistriggeredbetweenthetimethestockpricestabilizationplanisinitiatedandbeforetheformalimplementationofthestabilizationmeasuresorduringtheirimplementation,theabove-mentionedstockpricestabilizationplanshallbeterminated.
⑥IassurethatduringtheimplementationoftheCompany'sstockpricestabilizationplan,Iwillvoteinfavorofresolutionsrelatedtotherepurchaseofshares.
(3)ThedirectorsoftheCompany—ZhangJian,ZhangGege,DuanHua,LiuJianxin,PengWei,FangHao—andseniormanagementpersonnel—WangQuanzhang,LiYubao,HaoHong,WangChunyan,RenYong,HuYupeng—havemadethefollowingcommitments:
①ForthreeyearsfromthedateoftheCompany'slisting,shouldtheclosingpriceoftheCompany'sstockfallbelowthenetassetvaluepershareasdeterminedbythemostrecentauditedfinancialstatementsfor20consecutivetradingdays(withadjustmentsmadeforex-rightsandex-dividendsduetocashdividends,bonusshares,capitalincreases,ornewshareissuance,thesamebelow),IwillinitiatemeasurestostabilizethestockpricebyacquiringadditionalsharesoftheCompany,ensuringthesemeasuresdonotcausetheCompany'sequitydistributiontofalloutofcompliancewithlistingstandards.
②If,followingthecompletionoftheCompany'sstockpricestabilizationmeasures(asofficiallyannounced),theclosingpriceoftheCompany'sstocksremainsbelowthenetassetvaluepersharefor10consecutivetradingdaysoriftheclosingpriceisconsistentlybelowthenetassetvaluepersharefor20consecutivetradingdayswithinthreemonthsthereafter,Iwillinitiatefurtherstockpricestabilizationmeasures.③Withinfivetradingdaysfromthedaytheconditionsforinitiatingstockpricestabilizationmeasuresaremet,IwillproposeaplantoacquireadditionalCompanyshares(includingthenumberofsharestobeacquired,pricerange,andcompletiondeadline)andnotifytheCompany.TheCompanyshallannouncetheacquisitionplaninaccordancewiththerelevantregulations,andIwillcommencetheacquisitiononthetradingdayfollowingtheannouncement.④ThepriceatwhichIacquiresharesshallnotexceedthenetassetvaluepershareasdeterminedattheendofthelastfiscalyearaudited.ThenumberofsharesIacquireinatwelve-monthperiodfromthedatetheconditionsforinitiatingstockpricestabilizationmeasuresaretriggeredshallnotexceed1%ofthetotalnumberofCompanyshares,andthefundsIuseforacquiringsharesshallbeatleast30%ofthetotalamountofdirectorindirectafter-taxcashdividendsandafter-taxsalariesorallowancesIreceivedfromtheCompanyinthepreviousyear.⑤Shouldanyconditionspecifiedinthe"AimaTechnologyGroupCo.,Ltd.Three-YearPost-IPOStockPriceStabilizationPlan"thatterminatestheimplementationofstockpricestabilizationmeasuresbetriggeredeitherbeforetheformalimplementationofthestabilizationmeasuresorduringtheirimplementation,theaforementionedstockpricestabilizationplanshallbeterminated.
⑥IassurethatduringtheimplementationoftheCompany'sstockpricestabilizationplan,Iwillvoteinfavorofresolutionsrelatedtotherepurchaseofshares.Note5:CommitmentregardingtheresolutionandavoidanceofpeercompetitionTheCompany'scontrollingshareholdersandactualcontrollers,ZhangJianandZhangGege,havemadethefollowingcommitments:
(1)ToprevententerprisesthatIcontrolorhavesignificantinfluenceoverfromenteringintopeercompetitionwithAimaTechnologyfollowingitspubliclisting,Iherebycommit:WhileIserveasacontrollingshareholderandactualcontrollerofAimaTechnology,enterprisesundermycontrolorsignificantinfluencewillnot,eitherdirectlyorindirectly,engageinanybusinessoractivitiesthatcompetewithAimaTechnology,withinoroutsideofChina,inanymanner(includingbutnotlimitedtosoleproprietorship,throughjointventures,orbyowningsharesorotherinterestsinanothercompanyorenterprise).Furthermore,IshallnotholdanysubstantialmanagementrolesinanyeconomicorganizationthatisinpeercompetitionwithAimaTechnology.ShouldAimaTechnologyexpanditsbusinessscope,IcommittoensuringthatenterprisesIcontrolorsignificantlyinfluencewillnotcompetewithAimaTechnology’sexpandedbusiness.IfIoranyenterprisesIcontrolorsignificantlyinfluenceencounterbusinessopportunitiesthatcouldpotentiallycompetewiththecurrentorfutureoperationsofAimaTechnology,IwilltakeallpossibleandreasonablestepstooffersuchopportunitiestoAimaTechnologyfirst.IfAimaTechnologydecidesnottopursuetheseopportunities,IandtheenterprisesIcontrolorsignificantlyinfluencewilltakefeasiblestepstotransfertheseopportunitiestounrelatedthirdpartiesbeforetheseopportunitiesmovetotheimplementationphase,orwewillwithdrawfromsuchbusinessopportunitiesortakeotherfavorableactionstosafeguardAimaTechnology'sinterestsandavoidpeercompetition.Iwillensurethatenterprisesundermycontrolorsignificantinfluencefulfilltheobligationsstatedinthiscommitmentletterbydeployingappropriateinstitutionalmechanismsandpersonnel(includingbutnotlimitedtodirectors,managers)andbymaintainingacontrollingposition.
(2)IassurethatIwillnotusemystatusasacontrollingshareholderandactualcontrollerofAimaTechnologytothedetrimentofthelegitimateinterestsofAimaTechnologyanditsminorityshareholders,norwillIleveragemypositiontogainundueadditionalbenefits.
(3)Iconfirmthateachcommitmentinthisletterisindependentlyactionable.IfIbreachanyofthesecommitments,AimaTechnologyhastherighttodemandthatIandtheenterprisesIcontrolorsignificantlyinfluenceimmediatelyceaseanycompetingactions,andmayrequiremeortheenterprisesIcontrolorsignificantlyinfluencetocompensateAimaTechnologyforanydirectorindirectfinanciallosses,claimsliabilities,andassociatedcostsincurred.
(4)IensurethatthesecommitmentswillremaineffectiveandareirrevocableduringtheperiodwhileAimaTechnologyislistedonthedomesticsecuritiesexchangeandwhileIamacontrollingshareholderandactualcontroller.Shouldtherebeanychangesinrelevantlaws,regulations,orregulatoryguidelinesduringthisperiod,Iwillupdateorsupplementthesecommitmentsaccordingly.ZhangJian,astheactualcontrolleroftheCompany,additionallycommits:
WhileIserveastheactualcontrollerofAimaTechnology,IwillensureandguaranteethatAimaTechnologyanditssubsidiarieswillnothaveanyfinancialorbusinessdealingswithenterprisescontrolledbyorsignificantlyinfluencedbytheZhangHongfamilyorZhangRufamily,norwilltheyactthroughtheseenterprisestothedetrimentofAimaTechnologyanditsshareholders(includingminorityshareholders).ShouldIviolatethiscommitment,Iamwillingtocompensatefortheresultinglosses.Note6:MeasurestakenbytheCompanytominimizerelated-partytransactionsTheCompany'scontrollingshareholdersandactualcontrollers,ZhangJianandZhangGege,havemadethefollowingcommitments:
(1)I,alongwithmycloserelativesandanyothereconomicorganizationscontrolledbymyselformycloserelatives,willendeavortoavoidorminimizerelated-partytransactionswithAimaTechnology(includingitsconsolidatedsubsidiaries).TransactionsthatAimaTechnologycanconductwithindependentthirdpartiesthroughthemarketwillbecarriedoutbetweenAimaTechnologyandsuchthirdparties.I,mycloserelatives,andtheeconomicorganizationscontrolledbyuswillstrictlyavoidlendingto,usingthefundsof,orengaginginanyactswhereAimaTechnology'sfundsareusedforadvancepaymentsordebtrepaymentsonourbehalf.
(2)Allnecessarytransactionsbetweenmyself,mycloserelatives,theeconomicorganizationscontrolledbyus,andAimaTechnologyshallstrictlyadheretomarketprinciples.Thesetransactionswillbeconductedfairlyandreasonablyonanequalandmutuallybeneficialbasis,withcompensationequivalenttovalue.Wheregovernmentpricingexists,itwillbeadheredto;wherethereisnogovernmentpricing,marketfairpriceshallapply;andintheabsenceofboth,priceswillbedeterminedbasedoncostplusareasonableprofitmargincomparabletosimilartransactions.
(3)Allrelated-partytransactionsbetweenmyself,mycloserelatives,theeconomicorganizationscontrolledbyus,andAimaTechnologywillbeclearlystipulatedthroughwrittencontractsoragreements.ThesetransactionswillstrictlyadheretothestatutesofAimaTechnology,therelated-partytransactionmanagementsystem,andotherrelevantregulations.Theywillundergothenecessarylegalprocedures,andIwillvoluntarilycomplywithlegalrecusalobligationsduringdeliberationsofrelated-partytransactionsbyAimaTechnology'sgoverningbodies.Transactionsthatrequireapprovalfromcompetentauthoritieswillonlybeexecutedaftersuchapprovalhasbeenobtained.
(4)IassurethatIwillnotobtainanyimproperbenefitsthroughrelated-partytransactionsnorimposeanyundueobligationsonAimaTechnology.ShouldanyviolationofthesecommitmentsresultinlossestoAimaTechnologyorifbenefitstoAimaTechnologyareencroacheduponthroughrelated-partytransactions,AimaTechnologyreservestherighttounilaterallyterminatesuchtransactions,withanylossesincurredtobebornebyme.
(5)Forunavoidablerelated-partytransactions,IwillensurethatAimaTechnologystrictlyfollowsthedecision-makingproceduresforrelated-partytransactions,theconflictofinterestrecusalrules,anddisclosurerequirementsassetoutintheCompany’sbylaws,toensurethatsuchtransactionsarefair,just,andequitable,therebypreventinganyharmtotheinterestsofAimaTechnologyanditsshareholders.
(6)ThesecommitmentswillremaineffectiveforaslongasIamarelatedpartytoAimaTechnology.Note7:Commitmenttosubscribeforthepublicissuanceofconvertiblecorporatebonds
(1)TheCompany'scontrollingshareholdersandactualcontrollers,ZhangJian,hasmadethefollowingcommitments:
IwillsubscribefortheconvertiblebondstobeissuedbytheCompanythistimewithmyself-ownedorself-raisedfunds.Theamountofsubscriptionwillbedeterminedaccordingtotherelevantlaws,regulationsandnormativedocuments,theplanforissuanceofconvertiblebondsandmyfinancialconditionatthattime.IfIormyspouse,parentsorchildrenreduceoursharesintheCompanywithinsixmonthsbeforethefirstdayofthisissue,Ishallnotpersonallyparticipateinthesubscriptionoftheconvertiblebondsnorentrustotherstodosoonmybehalf.
IfIsuccessfullysubscribefortheconvertiblebonds,bothIandmyspouse,parentsandchildrenshallstrictlyabidebythelegalrequirementsonshort-termtrading,thatis,wecommitnottoreduceoursharesintheCompanyandtheseconvertiblebondsfromthefirstdayofthisissuetosixmonthsafterthecompletionofthisissue.
Ivoluntarilymaketheaforesaidcommitment,andagreetobeboundbytheaforesaidcommitmentandtostrictlyabidebyrelevantlaws,regulationsandnormativedocuments.IfIormyspouse,parentsorchildrenviolatetheaforesaidcommitment,allgainsderivedfromsuchviolationshallbeforfeitedtotheCompany,andIormyspouse,parentsorchildrenshallbearthelegalliabilitiesarisingtherefromaccordingtolaw.
(2)DirectorsZhangGege,GaoHui,PengWei,WangChunyan,andseniormanagementpersonnelZhengHui,LiYubao,LuoQingyihavemadethefollowingcommitment:
IfIormyspouse,parentsorchildrenreduceoursharesintheCompanywithinsixmonthsbeforethefirstdayofthisissue,Ishallnotpersonallyparticipateinthesubscriptionoftheconvertiblebondsnorentrustotherstodosoonmybehalf.IfneitherI,myspouse,parents,norchildrenreduceoursharesintheCompanywithinsixmonthsbeforethefirstdayofthisissue,Iwilldecidewhethertoparticipateinthesubscriptionoftheconvertiblebondsaccordingtothemarketconditionsandmycapitalarrangements.IfIsuccessfullysubscribefortheconvertiblebonds,bothIandmyspouse,parentsandchildrenshallstrictlyabidebythelegalrequirementsonshort-termtrading,thatis,pledgenottosellorotherwisedisposeofoursharesintheCompanyandtheseconvertiblebondsfromthefirstdayofthisissuetosixmonthsafterthecompletionofthisissue.IfIormyspouse,parentsorchildrenreduceoursharesintheCompanyorthesubscribedconvertiblebondsinviolationoftheaforesaidcommitment,allearningsfromsuchviolationshallbelongtotheCompany,andIormyspouse,parentsorchildrenshallbearthelegalliabilitiesarisingtherefromaccordingtolaw.
(3)DirectorsDuanHuaandsupervisorLiuTingxuhavemadethefollowingcommitment:
InthisissuanceoftheCompany’sconvertiblebonds,Iwillnotparticipateinthesubscription.Ifmyspouse,parentsand/orchildrenhavethepreemptiverighttotheconvertiblebondsduetoshareholdingintheCompany,he/she/theywilldecidewhethertoparticipateinthesubscriptionoftheconvertiblebondsaccordingtothemarketconditionsandcapitalarrangements.Incaseofsuccessfulsubscriptionoftheconvertiblebonds,bothIandmyspouse,parentsand/orchildrenshallstrictlyabidebythelegalrequirementsonshort-termtrading,thatis,commitnottoreducehis/her/theirsharesintheCompany(ifany)fromthefirstdayofthisissuetosixmonthsafterthecompletionofthisissue.Exceptfortheabovecircumstances,Icommitnottoentrustotherentitiestoparticipateinthesubscriptionoftheconvertiblebonds,andnottoparticipateinthesubscriptionoftheconvertiblebondsbyusingtheaccountofmyspouse,parentsorchildrenoranyotherperson.Theabovecommitmentrevealsmygenuineintention.IfIormyspouse,parentsorchildrenviolatetheaforesaidcommitment,allearningsfromsuchviolationshallbelongtotheCompany,andIormyspouse,parentsorchildrenshallbearthelegalliabilitiesarisingtherefromaccordingtolaw.Note8:CommitmentnottoparticipateinthepublicissuanceofconvertiblecorporatebondssubscriptionDirectorsSunMinggui,LiuJunfeng,MaJunsheng,andsupervisorsXuPengandLiYanhavemadethefollowingcommitment:
IwillnotparticipateinthesubscriptionoftheconvertiblebondstobeissuedbytheCompanythistimeonmyown,orthroughmyspouse,parentsorchildrenoranyotherperson.Theabovecommitmentrevealsmygenuineintention.IfIparticipateinthesubscriptionoftheconvertiblebondsinviolationoftheabovecommitment,allearningsfromsuchviolationshallbelongtotheCompany,andIshallbearthelegalliabilitiesarisingtherefromaccordingtolaw.Note9:Commitmenttomeasurestocompensatefortheimmediatedilutionofreturnsfromthepublicissuanceofconvertiblecorporatebonds
(1)TheCompany'scontrollingshareholdersandactualcontrollers,ZhangJianandZhangGege,havemadethefollowingcommitments:
①IpledgenottooverstepmyauthorityinthemanagementoftheCompanynorencroachupontheCompany’sinterests.
②FromthedatethiscommitmentismadeuntilthecompletionofthispublicissuanceofconvertiblecorporatebondsbyAimaTechnology,shouldtherebenewregulatoryprovisionsfromtheChinaSecuritiesRegulatoryCommission(CSRC),theShanghaiStockExchange,orotherregulatorybodiesconcerningcompensationmeasuresandcommitments,andiftheexistingcommitmentsdonotmeetthesenewprovisions,Ipledgetoissuesupplementarycommitmentsinaccordancewiththelatestregulations.Asaresponsiblepartyforthecompensationmeasures,ifIviolatetheabovecommitmentsorrefusetofulfillthem,IacceptthattheCSRC,theShanghaiStockExchange,andothersecuritiesregulatoryauthoritiesmayimposerelevantpenaltiesortakemanagementmeasuresaspertheirregulationsandrules,andIamwillingtobearthecorrespondinglegalresponsibilities.
(2)DirectorsZhangJian,DuanHua,ZhangGege,GaoHui,PengWei,WangChunyan,SunMinggui,LiuJunfeng,MaJunsheng,andseniormanagementpersonnelZhengHui,LiYubao,LuoQingyihavemadethefollowingcommitments:
①Ipledgenottotransferbenefitsgratuitouslyorunderunfairconditionstootherunitsorindividuals,nortouseothermethodstoharmtheinterestsoftheCompany.
②Icommittorestrainingmyofficialexpenditures.
③IpledgenottousetheCompany’sassetsforinvestmentsorconsumptionactivitiesunrelatedtomyresponsibilities.
④IcommitthattheremunerationsystemdevelopedbytheBoardofDirectorsortheCompensationandEvaluationCommitteewillbelinkedtotheimplementationoftheCompany’scompensationmeasures.
⑤ShouldAimaTechnologylaterintroduceacompanyequityincentivepolicy,IpledgethattheproposedconditionsforexercisingequityincentiveswillbelinkedtotheimplementationoftheCompany’scompensationmeasures.
⑥Fromthedatethiscommitmentismadeuntilthecompletionofthispublicissuanceofconvertiblecorporatebonds,shouldtheCSRC,theShanghaiStockExchange,orotherregulatorybodiesissuenewregulatoryprovisionsregardingcompensationmeasuresandcommitments,andiftheexistingcommitmentsdonotmeettheseprovisions,Ipledgetoissuesupplementarycommitmentsinaccordancewiththelatestregulations.Asaresponsiblepartyforthecompensationmeasures,ifIviolatetheabovecommitmentsorrefusetofulfillthem,IacceptthattheCSRC,theShanghaiStockExchange,andothersecuritiesregulatoryauthoritiesmayimposerelevantpenaltiesortakemanagementmeasuresaspertheirregulationsandrules,andIamwillingtobearthecorrespondinglegalresponsibilities.
(II)IfthereareearningsforecastfortheassetsorprojectsoftheCompanyandthereportingperiodisstillintheearningsforecastperiod,theCompanyshouldexplainwhethertheassetorprojectreachestheoriginalearningsforecastandgivethereasons
□Alreadyreached□Notreached√Notapplicable(III)Fulfillmentofcommitmentsontheperformanceanditsimpactsongoodwillimpairmenttest
□Applicable√NotapplicableII.Non-OperationalOccupancyoftheCompany’sFundsbytheControllingShareholderanditsRelatedPartiesduringtheReportingPeriod
□Applicable√NotapplicableIII.InformationonNon-ComplianceGuarantees
□Applicable√NotapplicableIV.ExplanationoftheBoardofDirectorsinCompanyonthe“Non-standardOpinionAuditReport”IssuedbytheAccountingFirm
□Applicable√NotapplicableV.AnalysisandExplanationontheCausesandInfluencesoftheChangesintheCompany’sAccountingPolicies,AccountingEstimatesorCorrectionofMajorAccountingErrors(I)AnalysisandexplanationoftheCompanyonthecausesandinfluencesofthechangesintheaccountingpoliciesandaccountingestimates
√Applicable□Notapplicable
TheInterpretation“No.16ofAccountingStandardsforBusinessEnterprises”,issuedin2022,stipulatesthatfortransactionsthatarenotbusinesscombinations,donotaffectaccountingprofitortaxableincome(ordeductiblelosses)atthetimeofthetransaction,andresultinequaltaxabletemporarydifferencesanddeductibletemporarydifferencesduetotheinitialrecognitionofassetsandliabilities,theexemptionfrominitialrecognitionofdeferredincometaxdoesnotapply.StartingfromJanuary1,2023,theCompanyhasimplementedthisstandard.Forleasetransactionswhereleaseliabilitiesareinitiallyrecognizedandincludedinright-of-useassetsatthecommencementdateoftheleaseterm,thetaxabletemporarydifferencesanddeductibletemporarydifferencesarisingfromtheinitialrecognitionofassetsandliabilitieswillnowresultintherespectiverecognitionofdeferredincometaxliabilitiesanddeferredincometaxassets,insteadofthepreviouspracticeofnotrecognizingdeferredincometax.Accordingtothetransitionprovisions,forthetransactionsoccurringbetweenthebeginningoftheearliestperiodpresentedinthefinancialstatementsinwhichthisinterpretationisfirstappliedandthedateoftheaccountingpolicychange,theCompanyhasmadeadjustments.TheInterpretation“No.16ofAccountingStandardsforBusinessEnterprises”doesnothaveasignificantimpactonthedeferredincometaxassetsandliabilitiespresentednetintheCompany'sconsolidatedbalancesheet.
(II)AnalysisandexplanationoftheCompany’sanalysisonreasonsandeffectsofthecorrectionofmajoraccountingerrors
□Applicable√Notapplicable(III)Communicationwithformeraccountingfirm
□Applicable√Notapplicable(IV)Approvalproceduresandothernotes
□Applicable√Notapplicable
VI.Engagement/DisengagementoftheCPAs
Unit:TenThousandYuan(RMB)
| Currentappointment | |
| NameofthedomesticCPAs | Ernst&YoungHuaMingLLP |
| RemunerationtothedomesticCPAs | 320 |
| YearsofthedomesticCPAsofferingauditingservices | 11 |
| NameofCPAsofthedomesticaccountingfirm | GuoJingandZhaoRuiqing |
| YearsofCPAsofthedomesticaccountingfirmofferingauditingservices | 2year(GuoJing)and1year(ZhaoRuiqing) |
Name
| Name | Remuneration | |
| Accountingfirmforinternalcontrolaudit | Ernst&YoungHuaMingLLP | 50 |
| Sponsor | HuataiUnitedSecuritiesCo.,Ltd. | 144 |
Notetoengagement/disengagementoftheCPAs
√Applicable□Notapplicable
OnMay5,2023,theProposalonContinuingtheEmploymentoftheFinancialAuditBodyandInternalControlAuditBodyfor2023wasreviewedandadoptedatthe2022annualgeneralmeetingofshareholders.Accordingly,Ernst&YoungHuaMingLLPcontinuedtobeappointedastheCompany’sfinancialauditbodyandinternalcontrolauditbodyfor2023.NotetothereplacementoftheCPAsduringtheauditing
□Applicable√Notapplicable
Notetoauditfeesfallingbymorethan20%(inclusive)comparedwiththepreviousyear
□Applicable√NotapplicableVII.DelistingRisk
(I)Reasonsforthedelistingriskswarning
□Applicable√Notapplicable(II)SolutiontobeadoptedbytheCompany
□Applicable√Notapplicable
(III)Terminationofthelistinganditsreasons
□Applicable√NotapplicableVIII.EventsRelatedtoBankruptcyandReorganization
□Applicable√NotapplicableIX.MajorLawsuitandArbitrationIssues
□Significantlawsuitsandarbitrationsinthereportingperiod
√NosignificantlawsuitorarbitrationinthereportingperiodX.PunishmentandCorrectionontheListedCompanyaswellasitsDirectors,Supervisors,SeniorManagement,ControllingShareholdersandActualControllerduetoSuspectofLawViolations
□Applicable√Notapplicable
XI.IntegrityStatusoftheCompany,itsControllingShareholderandActualControllerduringtheReportingPeriod
√Applicable□NotapplicableDuringthereportingperiod,theCompany,itscontrollingshareholderandactualcontrollerwereallenjoyinggoodreputationinintegrity,andtherewasnofailuretoperformanyeffectivejudgmentofthecourt,orlargeamountofoutstandingduedebtsremainingunpaid.XII.SignificantRelated-PartyTransactions(I)Related-partytransactionsfromdailyoperation
1.Mattersalreadydisclosedinthetemporaryannouncementsandwithnoprogressorchangeinsubsequentimplementation
□Applicable√Notapplicable
2.Mattersalreadydisclosedinthetemporaryannouncementsandwithprogressorchangeinsubsequentimplementation
√Applicable□NotapplicableOnDecember29,2022,thethirdmeetingoftheFifthBoardofDirectorsoftheCompanypassedaresolutionwithsixvotesinfavor,noneagainst,andnoabstentions,approvingtheProposalonAnticipatedDailyRelated-partyTransactionsfortheCompanyandItsSubsidiariesfortheYear2023.RelatedDirectorsZhangJian,DuanHua,andZhangGegeabstainedfromthevote.Formoredetails,pleaseseetheannouncementpublishedontheShanghaiStockExchangewebsiteonDecember30,2022.Forthefiscalyear2023,theanticipatedandexecuteddailyrelated-partytransactionsbetweentheCompanyandrelatedpartiesareasfollows:
Unit:TenThousandYuan
3.Mattersnotdisclosedinthetemporaryannouncements
□Applicable√Notapplicable(II)Related-partytransactionsconcerningacquisitionandsalesofassetsorequity
1.Mattersdisclosedintemporaryannouncementsandwithnoprogressorchangeinsubsequentimplementation
□Applicable√Notapplicable
2.Mattersdisclosedintemporaryannouncementsandwithprogressorchangeinsubsequentimplementation
□Applicable√Notapplicable
| Tradingparty | Typesofrelated-partytransactions | Relatedparties | Anticipatedamountin2023 | Actualamountin2023 |
| TheCompanyanditssubsidiaries | Purchasinggoodsfromtherelatedparty | TianjinJiemaElectricTechnologyCo.,Ltd. | 3,000.00 | 793.07 |
| Providingservicestotherelatedparty | 15.00 | 89.73 | ||
| Leasingahousetotherelatedparty | 1,200.00 | 899.40 | ||
| Otherdailyrelated-partytransactions | 100.00 | 0.00 | ||
| Subtotal | 4,315.00 | 1,782.20 | ||
| TheCompany | Rentingahousefromtherelatedparty | DuanHua | 500.00 | 476.19 |
| Acceptingtheservicesandgoodsprovidedbytherelatedparty | ShangqiuYichongTradingCo.,Ltd. | 4,500.00 | 3,725.63 | |
| Total | 9,315.00 | 5,984.02 | ||
3.Mattersnotdisclosedinthetemporaryannouncements
√Applicable□Notapplicable
Unit:TenThousandYuan(RMB)
| Relatedparties | Relationship | Typesofrelated-partytransactions | Contentofrelated-partytransactions | Pricingprinciplesforrelated-partytransactions | Bookvalueoftransferredasset | Assessedvalueoftransferredasset | Transferprice | Settlementmethodsforrelated-partytransactions | Gainsfromtheassettransfer | ImpactoftransactionontheCompany'soperatingresultsandfinancialcondition | Reasonforsignificantdifferencebetweentransactionpriceandbookvalueorassessedvalue,marketfairvalue |
| TianjinJiemaElectricTechnologyCo.,Ltd. | AssociateCompany | Purchaseofassetsotherthangoods | PurchaseofCNCpipebendingmachine | Marketprice | Notapplicable | Notapplicable | 37.27 | Banktransfer | Notapplicable | Nosignificantimpact | Notapplicable |
| TianjinJiemaElectricTechnologyCo.,Ltd. | AssociateCompany | Saleofassetsotherthangoods | Saleofsemi-automaticpipeshrinkingmachine | Marketprice | 3.13 | Notapplicable | 2.65 | Banktransfer | -0.48 | Nosignificantimpact | Notapplicable |
Explanationofrelated-partytransactionsinvolvingassetacquisitionandsaleDuringthereportingperiod,theCompanypurchasedandsoldtheaforementionedassetstoandfromTianjinJiemaElectricTechnologyCo.,Ltd.,anassociatecompanywherethecontrollingshareholderservesasadirector,tomeetitsproductionandoperationalneeds.Sincetheamountsinvolvedintheserelated-partytransactionsweresmallanddidnotmeetthethresholdsforboardreviewandtemporaryannouncements,thetransactionsfollowedtheprinciplesoffairness,equity,andvoluntariness,anddidnotharmtheinterestsoftheCompanyoritsminorityinvestors.
4.Ifaperformanceagreementisinvolved,theachievementofperformanceduringthereportingperiodshouldbedisclosed
□Applicable√Notapplicable(III)Significantrelated-partytransactionsofjointexternalinvestment
1.Mattersdisclosedintemporaryannouncementsandwithnoprogressorchangeinsubsequentimplementation
□Applicable√Notapplicable
2.Mattersdisclosedintemporaryannouncementsandwithprogressorchangeinsubsequentimplementation
□Applicable√Notapplicable
3.Mattersnotdisclosedinthetemporaryannouncements
□Applicable√Notapplicable(IV)Creditsanddebtswithrelatedparties
1.Mattersdisclosedintemporaryannouncementsandwithnoprogressorchangeinsubsequentimplementation
□Applicable√Notapplicable
2.Mattersdisclosedintemporaryannouncementsandwithprogressorchangeinsubsequentimplementation
□Applicable√Notapplicable
3.Mattersnotdisclosedinthetemporaryannouncements
□Applicable√Notapplicable(V)FinancialtransactionsbetweentheCompanyanditsrelatedfinancecompanies,betweentheCompany'sholdingfinancecompanyandtherelatedparties
□Applicable√Notapplicable(VI)Others
□Applicable√NotapplicableXIII.SignificantContractsandTheirExecution(I)Custody,contactingandleases
1.Custody
□Applicable√Notapplicable
2.Contracting
□Applicable√Notapplicable
3.Leases
□Applicable√Notapplicable
(II)Guarantee
√Applicable□Notapplicable
Unit:Yuan(RMB)
| ExternalguaranteesprovidedbytheCompany(excludingguaranteestosubsidiaries) | |||||||||||||||
| Guarantor | RelationshipbetweentheguarantorandtheCompany | Guaranteedparty | Amountguaranteed | Dateofoccurrenceoftheguarantee(dateofagreement) | Guaranteestartdate | Guaranteeexpirydate | Typeofguarantee | Collateral(ifany) | Istheguaranteefinished | Hastheguaranteebeenoverdue | Overdueamount | Counterguaranteedetails | Guaranteetorelatedparty? | Relationship | |
| Totalamountofguaranteeoccurredduringthereportingperiod(excludingguaranteestosubsidiaries) | 0 | ||||||||||||||
| Totalbalanceofguaranteeattheendofthereportingperiod(A)(excludingguaranteestosubsidiaries) | 0 | ||||||||||||||
| GuaranteetothesubsidiariesprovidedbytheCompanyanditssubsidiaries | |||||||||||||||
| Totalamountofguaranteesforsubsidiariesoccurredduringthereportingperiod | 453,736,711.02 | ||||||||||||||
| Totalbalanceofguaranteesforsubsidiariesattheendofthereportingperiod(B) | 216,443,547.17 | ||||||||||||||
| TotalamountofguaranteesprovidedbytheCompany(includingguaranteestosubsidiaries) | |||||||||||||||
| Totalamountofguarantees(A+B) | 216,443,547.17 | ||||||||||||||
| oftotalamountofguaranteestonetassetsoftheCompany(%) | 2.81 | ||||||||||||||
| Including: | |||||||||||||||
| Amountofguaranteesofferedtotheshareholders,actualcontrolleranditsrelatedparties(C) | 0 | ||||||||||||||
| AmountofguaranteeforliabilitiesdirectlyorindirectlyofferedtotheGuaranteedpartieswiththeasset-liabilityratioexceeding70%(D) | 167,008,664.86 | ||||||||||||||
| Amountoftotalguaranteesexceeding50%ofthenetassets(E) | 0 |
| Totalamountoftheaforesaidthreeguarantees(C+D+E) | 167,008,664.86 |
| Notetopotentialjointandseveralliabilitiesforguaranteesnotyetmatured”. | N/A |
| Notetotheguarantees | The2022AnnualGeneralMeetingheldonMay5,2023reviewedandapprovedtheProposalonProvidingCreditGuaranteesforCertainSubsidiaries,andtheabove-mentionedguaranteeshavebeenreviewedandapprovedbytheCompany'sGeneralMeeting. |
(III)Entrustingotherstomanagethecashassets
1.Entrustedwealthmanagement
(1)Overallentrustedwealthmanagement
√Applicable□Notapplicable
Unit:TenThousandYuan(RMB)
| Type | Sourcesoffunds | Amountincurred | Outstandingbalance | Overdueamountunrecovered |
| Bankfinancialproduct | Self-ownedfunds | 32,780.00 | 11,928.66 | 0 |
Others
√Applicable□NotapplicableTheamountofentrustedwealthmanagementintheabovetablewasthehighestsingle-daypurchasebalanceofthistypeofwealthmanagementproduct.；Theoutstandingbalancedidnotincludeinvestmentincome.
(2)Singleentrustedwealthmanagement
□Applicable√NotapplicableOthers
√Applicable□NotapplicableDuringthereportingperiod,theCompanydidnotpurchasefixed-termwealthmanagementproductssuchassignificantsingle-amountstructureddeposits.Otheropen-endedwealthmanagementproductsarenotapplicable.
(3)Provisionsforimpairmentofentrustedwealthmanagement
□Applicable√Notapplicable
2.Entrustedloans
(1)Overallentrustedloans
□Applicable√NotapplicableOthers
□Applicable√Notapplicable
(2)Singleentrustedloans
□Applicable√NotapplicableOthers
□Applicable√Notapplicable
(3)Provisionsforimpairmentofentrustedloans
□Applicable√Notapplicable
3.Others
□Applicable√Notapplicable(IV)Otherimportantcontracts
□Applicable√NotapplicableXIV.ExplanationoftheProgressinUseofRaisedFunds
√Applicable□Notapplicable(I)Overallusageofraisedfunds
√Applicable□Notapplicable
Unit:TenThousandYuan
| Sourceofraisedfunds | Timeoffundarrival | Totalamountofraisedfunds | Including:Amountofover-raisedfunds | Netamountofraisedfundsafterdeducting | Netamountofraisedfundsafterdeducting | Netamountofraisedfundsafterdeducting | Netamountofraisedfundsafterdeducting | Netamountofraisedfundsafterdeducting | Netamountofraisedfundsafterdeducting | Netamountofraisedfundsafterdeducting | Netamountofraisedfundsafterdeducting |
| issuanceexpenses | issuanceexpenses | issuanceexpenses | issuanceexpenses | issuanceexpenses | issuanceexpenses | issuanceexpenses | issuanceexpenses | ||||
| IPO | June9,2021 | 181,090 | 0 | 168,086.38 | 168,086.38 | 168,257.49 | 167,712.27 | 99.68 | 28,826.04 | 17.13 | 7,462.35 |
| IssuanceofConvertibleBonds | March1,2023. | 200,000 | 0 | 199,379.74 | 199,379.74 | 199,379.74 | 74,974.09 | 37.60 | 74,974.09 | 37.60 | 0 |
(II)Detailsofprojectsfundedbyraisedfunds
√Applicable□Notapplicable
Unit:TenThousandYuan
| ProjectName | ProjectNature | Whetherchangedinvestmentdirectionornot | Sourceofraisedfunds | Timeoffundarrival | Useofover-raisedfunds | Totalcommittedinvestmentfromraisedfunds | Adjustedtotalinvestmentfromraisedfunds(1) | Amountinvestedthisyear | Totalamountofraisedfundsinvestedbyendofreportingperiod（2） | Investmentprogressbyendofreportingperiod(%)(3)＝(2)/(1) | Dateofprojectreachingitsplannedusablestate | Whethercompleted | Whethertheinputconformedtotheplannedprogress | Specificreasonsfornotmeetingtheplannedprogress | Benefitsrealizedthisyear | BenefitsorR&Doutcomesachievedbytheproject | Significantchangesinprojectfeasibility(specifyifapplicable) | Remainingfunds |
| TianjinVehicleElectricBicycleCompleteVehicleandAccessoriesManufacturingPhaseIProject | Productionconstruction | No | IPO | June9,2021 | No | 8,000.00 | 8,000.00 | 8,000.00 | 100.00% | August2021 | Yes | Yes | 8,708.57 | / | No | 0.6 | ||
| TianjinVehicleElectricBicycleCompleteVehicle | Productionconstructi | No | IPO | June9,2021 | No | 8,000.00 | 8,000.00 | 8,000.00 | 100.00% | August2021 | Yes | Yes |
| andAccessoriesManufacturingPhaseIIProject | on | |||||||||||||||||
| TianjinVehicleElectricBicycleCompleteVehicleandAccessoriesManufacturingPhaseIIIProject | Productionconstruction | No | IPO | June9,2021 | No | 8,000.00 | 8,000.00 | 8,000.00 | 100.00% | August2021 | Yes | Yes | ||||||
| TianjinVehicleElectricBicycleCompleteVehicleandAccessoriesManufacturingPhaseIVProject | Productionconstruction | No | IPO | June9,2021 | No | 8,000.00 | 8,000.00 | 8,000.00 | 100.00% | August2021 | Yes | Yes | ||||||
| TianjinVehicleElectricBicycleCompleteVehicleandAccessoriesManufacturingPhaseVProject | Productionconstruction | No | IPO | June9,2021 | No | 8,000.00 | 8,000.00 | 8,147.90 | 101.85% | August2021 | Yes | Yes | ||||||
| TianjinVehicleElectricBicycleCompleteVehicleandAccessoriesManufacturingPhaseVIProject | Productionconstruction | No | IPO | June9,2021 | No | 8,000.00 | 8,000.00 | 8,000.00 | 100.00% | August2021 | Yes | Yes | ||||||
| TianjinVehicleElectricBicycleProductionLineTechnologicalRenovationProject | Productionconstruction | No | IPO | June9,2021 | No | 19,341.08 | 19,341.08 | 2,086.12 | 17,016.71 | 87.98% | June2024 | No | No | Note1 | N/A | / | No | 2,579.43 |
| JiangsuVehiclePlasticPartsPaintingProductionLine | Productionconstruction | Yes | IPO | June9,2021 | No | 7,462.35 | N/A | Yes | Yes | Note2 | N/A | / | Yes | N/A |
| TechnologicalRenovationProject | ||||||||||||||||||
| TianjinVehicleR&DCenterConstructionProject | R&D | No | IPO | June9,2021 | No | 5,053.59 | 5,053.59 | 4,358.38 | 5,200.21 | 102.90% | June2024 | Yes | Yes | Note1 | N/A | / | No | 72.01 |
| JiangsuVehicleR&DCenterConstructionProject | R&D | No | IPO | June9,2021 | No | 5,047.58 | 5,047.58 | 3,231.85 | 5,288.22 | 104.77% | June2024 | Yes | Yes | Note1 | N/A | / | No | 9.01 |
| AimaTechnologyITUpgradeandBigDataPlatformConstructionProject | Operationsmanagement | No | IPO | June9,2021 | No | 8,341.03 | 8,341.03 | - | 8,377.92 | 100.44% | November2022 | Yes | Yes | N/A | / | No | 0.20 | |
| AimaTechnologyRetailMarketingNetworkUpgradeProject | Operationsmanagement | No | IPO | June9,2021 | No | 48,840.75 | 48,840.75 | 19,149.69 | 50,047.87 | 102.47% | July2023 | Yes | Yes | N/A | / | No | 5.39 | |
| SupplementaryWorkingCapitalProject | Supplementingworkingcapitalandrepayingloans | No | IPO | June9,2021 | No | 26,000.00 | 26,000.00 | - | 26,000.00 | 100.00% | N/A | Yes | Yes | N/A | / | No | ||
| JiangsuVehicleSupplementaryWorkingCapitalProject | Supplementingworkingcapitalandrepayingloans | No | IPO | June9,2021 | No | 7,633.46 | 7,633.44 | 100.00% | N/A | Yes | Yes | N/A | / | N/A | 38.90 | |||
| LishuiVehicleNewEnergySmartMobility | Productionconstructi | No | Issuingconvertible | March1,2023 | No | 149,392.96 | 149,392.96 | 24,745.45 | 24,745.45 | 16.56% | March2025 | No | No | N/A | / | No | 127,476.5 |
| Project(PhaseI) | on | bonds | 5 | |||||||||||||||
| AimaTechnologyMarketingNetworkUpgradeProject | Operationsmanagement | No | Issuingconvertiblebonds | March1,2023 | No | 49,986.78 | 49,986.78 | 50,228.64 | 50,228.64 | 100.48% | December2023 | Yes | Yes | N/A | / | No | 0 |
Note1:The"TianjinVehicleElectricBicycleProductionLineTechnologicalRenovationProject”,"TianjinVehicleR&DCenterConstructionProject”,and"JiangsuVehicleR&DCenterConstructionProject"experiencedslightdelaysintheirconstructionprogressduetoexternalenvironmentalfactorsandtheCompany'sactualoperationalsituation.Consideringtheactualinvestmentinthecapital-raisingprojectsandfutureinvestmentplans,onAugust11,2023,the11thmeetingofthefifthBoardofDirectorsandthe10thmeetingofthefifthSupervisoryBoardreviewedandapprovedthe"ProposalontheDelayofSomeInitialPublicOfferingCapitalInvestmentProjects”,decidingtopostponetheexpecteddatefortheseprojectstoreachoperationalstatustoJune2024.Note2:Duetosignificantchangesinlocalenvironmentalprotectionpolicies,the"JiangsuVehiclePlasticPartsPaintingProductionLineTechnologicalRenovationProject"adjusteditsoperationstoentrustthepaintingofplasticpartstoenterpriseswithinacentralizedpaintingcenterinthearea.ThisentrustedpaintingmeetstheCompany'sdailyoperationalneeds.Withthegradualpromotionofpaint-freetechnologyforplasticparts,thenecessitytocontinuetheoriginalprojecthassignificantlydecreased.Followingthedeliberationatthe2021annualgeneralmeetingheldonMay6,2022,theCompanydecidedtoterminatetheprojectandhastransferredtheunusedraisedfundstoJiangsuVehicle'sproprietarycapitalaccountforpermanentsupplementationofworkingcapital.
(III)Changesorterminationsoffund-raisinginvestmentprojectsduringthereportingperiod
□Applicable√Notapplicable(IV)Othersituationsregardingtheuseofraisedfundsduringthereportingperiod
1.Advanceinvestmentandreplacementoffundraisinginvestmentprojects
√Applicable□Notapplicable
(1)InitialPublicOfferingin2021OnJuly21,2021,the18thMeetingoftheFourthBoardofDirectorsandthe8thMeetingoftheFourthSupervisoryBoardreviewedandapprovedtheProposalonUsingRaisedFundstoReplaceSelf-RaisedFundsPre-investedinFundraisingProjectsandPaidIssuanceExpenses.TheCompanyagreedtouse820.1358millionRMBofthefundsraisedfromtheinitialpublicofferingtoreplacetheself-raisedfundspre-investedinfundraisingprojects,and38.9487millionRMB(excludingVAT)toreplacetheself-raisedfundsusedforpaidissuanceexpenses,totaling
859.0845millionRMB.ThereplacementamountwasreviewedandverifiedbyErnst&YoungHuaMingLLP,whoissueda"SpecialVerificationReportonthePre-investmentofRaisedFundsbyAimaTechnologyGroupCo.,Ltd.usingSelf-RaisedFunds"(Ernst&YoungHuaMing(2021)No.60968971_B09).TheCompany’sindependentdirectorsandthethen-sponsorinstitution,CITICSecuritiesCo.,Ltd.,expressedtheirindependentopinionsandverificationopinions,respectively.OnJuly30,2021,theCompanyreplacedthetotalof859.0845millionRMBofself-raisedfundspre-investedinthefundraisingprojectswiththefundsraisedfromtheinitialpublicoffering.
(2)PublicIssuanceofConvertibleCorporateBondsin2023OnJune15,2023,the9thMeetingoftheFifthBoardofDirectorsandthe9thMeetingoftheFifthSupervisoryBoardreviewedandapprovedtheProposalonUsingRaisedFundsfromConvertibleCorporateBondstoReplaceSelf-RaisedFundsPre-InvestedinFundraisingProjectsandPaidIssuanceExpenses.TheCompanyagreedtouseatotalof527.315millionRMBfromtheraisedfundsoftheconvertiblecorporatebondstoreplacetheself-raisedfundspre-investedinfundraisingprojectsandpaidissuanceexpenses.ThereplacementamountwasreviewedandverifiedbyErnst&YoungHuaMingLLP,whoissuedaVerificationReportonthePre-InvestmentofRaisedFundsbyAimaTechnologyGroupCo.,Ltd.usingSelf-RaisedFunds(Ernst&YoungHuaMing(2023)No.60968971_L10).TheCompany’sindependentdirectorsandthesponsorinstitution,HuataiUnitedSecurities,expressedtheirindependentopinionsandverificationopinions,respectively.OnJune26,2023,theCompanyreplacedthetotalof
527.315millionRMBofself-raisedfundspre-investedinthefundraisingprojectsandpaidissuanceexpenseswiththefundsraisedfromtheconvertiblecorporatebonds.
(3)UsingBankers'AcceptancesandOtherMethodstoPayFundsforFundraisingProjectsOnApril26,2023,the7thMeetingoftheFifthBoardofDirectorsandthe7thMeetingoftheFifthSupervisoryBoardreviewedandapprovedtheProposalonUsingBankers'AcceptancesandOtherMethodstoPayFundsforFundraisingProjectsandReplacingwithanEquivalentAmountofRaisedFunds.TheCompanyagreedtousebankers'acceptancesandothermethodstopayvariousexpensesinfundraisingprojects(includingthosefromtheinitialpublicofferingandthepublicissuanceofconvertiblecorporatebonds)duringtheimplementationperiod,accordingtoactualconditions,andtransferanequivalentamountoffundsfromthededicatedfundraisingaccounttotheCompany’sownaccount.TheCompany’sindependentdirectorsandthesponsorinstitution,HuataiUnitedSecurities,expressedtheirindependentopinionsandverificationopinions,respectively.
2.Temporarysupplementationofworkingcapitalwithidleraisedfunds
□Applicable√Notapplicable
3.Cashmanagementofidleraisedfundsandinvestmentinrelatedproducts
√Applicable□Notapplicable
Unit:TenThousandYuan(RMB)
| DateofBoardreview | Approvedamountforcashmanagement | Startdate | Enddate | Cashmanagementbalanceatendofreportingperiod | Whethermaximumbalanceduringperiodexceededauthorizedlimit |
| June21,2022 | 50,000 | June21,2022 | June20,2023 | No | |
| April14,2023 | 232,100 | April14,2023 | April13,2024 | 130,137.21 | No |
OthersOnJune21,2022,theCompanyheldthe27thmeetingofthefourthBoardofDirectorsandthe15thmeetingofthefourthSupervisoryBoard,atwhichthe"ProposalonContinuingtoUsePartoftheTemporarilyIdleRaisedFundsforCashManagement"wasreviewedandapproved.TheCompanyagreedtouseuptoRMB500millionoftemporarilyidlefundsraisedfromtheinitialpublicoffering(IPO)forcashmanagement,topurchasehigh-securityandhigh-liquidityinvestmentproducts.Thisauthorizationisvalidfor12monthsfromthedateofapprovalbytheBoardofDirectorsandSupervisoryBoardandcanbeusedonarollingbasiswithintheauthorizedamountandvalidityperiod.TheCompany’sindependentdirectorsandthethensponsor,CiticSecuritiesCo.,Ltd.,bothexpressedtheiragreementwiththismatter.OnApril14,2023,theCompanyheldthe6thmeetingofthefifthBoardofDirectorsandthe6thmeetingofthefifthSupervisoryBoard,atwhichthe"ProposalonDepositingPartoftheRaisedFundsinCurrentDepositFormssuchasAgreementDepositsandNoticeDeposits"wasreviewedandapproved.TheCompanyagreedtouseuptoRMB2,321millionofraisedfundstobedepositedincurrentdepositformssuchasagreementdepositsandnoticedeposits.Amongthem,theauthorizedlimitforfundsraisedfromtheIPOisuptoRMB275million,andtheauthorizedlimitforfundsraisedfromtheissuanceofconvertiblebondsisuptoRMB2,046million.Thisauthorizationisvalidfor12monthsfromthedateofapprovalbytheBoardofDirectorsandSupervisoryBoardandcanbeusedonarollingbasiswithintheauthorizedamountandvalidityperiod.TheCompany’sindependentdirectorsandthesponsor,HuataiUnitedSecurities,bothexpressedtheiragreementwiththismatter.Duringthereportingperiod,theCompanyusedtemporarilyidleraisedfundstopurchasevalue-addedservicecurrentdeposits.AsofDecember31,2023,thebalanceofcurrentdepositspurchasedwithpartoftheidleraisedfundswasRMB1,301.37million.Allthesefundsweredepositedinthededicatedraisedfundsaccounts,andtherewasnocaseofmanagingfundsoutsideofthededicatedraisedfundsaccounts.
4.Useofover-raisedfundsforpermanentsupplementationofworkingcapitalorrepaymentofbankloans
□Applicable√Notapplicable
5.Others
□Applicable√NotapplicableXV.NotetoOtherMajorEventsthatHaveSignificantImpactonInvestors'ValueJudgmentsandInvestmentDecisions
□Applicable√Notapplicable
Section7ChangesinSharesandInformationaboutShareholders
I.ChangesinSharesCapital(I)Tableofchangesinshares
1.Tableofchangesinshares
Unit:Shares
| Beforethechange | Increaseordecreaseofthechange(+,-) | Afterthechange | |||||||
| Quantity | Percentage(%) | Newsharesissued | Bonusshares | Sharesconvertedfromcapitalreserves | Others | Subtotal | Quantity | Percentage(%) | |
| I.Restrictedshares | 428,526,000 | 74.57 | 214,263,000 | -4,397,400 | 209,865,600 | 638,391,600 | 74.07 | ||
| 1.Sharesheldbythestate | |||||||||
| 2.Sharesheldbythestate-ownedlegalentities | |||||||||
| 3.Otherdomesticshares | 428,526,000 | 74.57 | 214,263,000 | -4,397,400 | 209,865,600 | 638,391,600 | 74.07 | ||
| Including:sharesheldbydomesticnon-state-ownedlegalentities | |||||||||
| Sharesheldbydomesticnon-corporateentities | 23,706,200 | 4.13 | 11,853,100 | 11,853,100 | 35,559,300 | 4.13 | |||
| Sharesheldbydomesticindividuals | 404,819,800 | 70.44 | 202,409,900 | -4,397,400 | 198,012,500 | 602,832,300 | 69.94 | ||
| 4.Sharesheldbyforeigninvestors | |||||||||
| Including:sharesheldbyforeignlegalentities | |||||||||
| Sharesheldbyforeignindividuals | |||||||||
| II.Tradableshareswithoutsellingrestrictions | 146,174,004 | 25.43 | 73,087,002 | 4,272,401 | 77,359,403 | 223,533,407 | 25.93 | ||
| 1.RMBcommonshares | 146,174,004 | 25.43 | 73,087,002 | 4,272,401 | 77,359,403 | 223,533,407 | 25.93 | ||
| 2.Domesticlistedforeignshares | |||||||||
| 3.Overseaslistedforeignshares | |||||||||
| 4.Others | |||||||||
| III.Totalshares | 574,700,004 | 100 | 287,350,002 | -124,999 | 287,225,003 | 861,925,007 | 100 | ||
2.Statementonthechangeinshares
√Applicable□Notapplicable
(1)OnMay19,2023,theCompanycompletedtheequitydistributionforthefiscalyear2022.Theprofitdistributionandcapitalincreasewerebasedonthetotalissuedcapitalof574,700,004shares,withcapitalreservesusedtodistributeanadditionalfivesharesforevery
tensharesheld,totaling287,350,002shares.
(2)OnJune1,2023,thefirsttrancheoftheCompany's2021RestrictedStockIncentivePlanwasunlocked,involving4,158,000shares,whichbecameunrestrictedandwerelistedfortrading.
(3)OnJuly27,2023,theCompanycompletedtherepurchaseandcancellationof126,000restrictedsharesfromfourincentiveparticipantswhonolongerqualifiedduetoresignation.
(4)OnAugust28,2023,anadditional113,400sharesfromthereservedgrantoftheCompany's2021RestrictedStockIncentivePlanhadtheirrestrictionsliftedandwerelistedfortrading.
(5)StartingSeptember1,2023,AimaCBcouldbeconvertedintotheCompany’sshares;duringthereportingperiod,atotalof1,001shareswerecreatedthroughconversion.
3.Effectofchangesinsharesonfinancialindicatorssuchasearningspershareandnetassetpershare(ifany)overthelastyearandthelastreportingperiod
√Applicable□NotapplicableDuringthereportingperiod,duetotheannualequitydistributionfor2022,therepurchaseandcancellationofrestrictedstock,andconvertiblebondconversion,theCompany’stotalissuedcapitalincreasedfrom574,700,004sharesto861,925,007shares.Thischangeresultedinthedilutionoffinancialmetricssuchasbasicearningspershareandnetassetspershareforthefiscalyear2023.
4.OthercontentsthattheCompanydeemsnecessaryorthesecuritiesregulatoryauthoritiesrequiredisclosing
□Applicable√Notapplicable(II)Changesinrestrictedshares
√Applicable□Notapplicable
In:Share
| Nameofshareholders | Numberofrestrictedsharesatthebeginningoftheyear | Numberofsharesreleasedfromrestrictiononsalesintheyear | Increaseinthenumberofrestrictedsharesintheyear | Numberofrestrictedsharesattheendoftheyear | Reasonforrestrictiononsales | Dateofreleasefromrestrictiononsales |
| ZhangJian | 395,243,800 | 197,621,900 | 592,865,700 | Non-tradablefor36monthsfromIPO | June17,2024 | |
| YanchengDingaiVentureCapitalPartnership(LimitedPartnership) | 23,706,200 | 11,853,100 | 35,559,300 | Non-tradablefor36monthsfromIPO | June17,2024 | |
| 2021RestrictedStockGrantRecipients | 9,576,000 | 4,271,400 | 4,788,000 | 9,966,600 | Restrictedstockgrantedin2021 | / |
| Total | 428,526,000 | 4,271,400 | 214,263,000 | 638,391,600 | / | / |
Note:Duringthereportingperiod,theCompanycompletedthe2022annualequitydistribution,issuinganadditionalfivesharesforeverytensharesheld,fundedthroughcapitalreserves,toallshareholders.Consequently,thenumberofrestrictedsharesincreasedproportionally.
II.SecuritiesIssuanceandListing(I)Issuanceofsecuritiesduringthereportingperiod
√Applicable□Notapplicable
Unit:SharesCurrency:RMB
| Typeofsharesanditsderivativesecurities | Dateofissuance | Issuingprice(orinterestrate) | Sharesissued | Dateoflisting | Quantityapprovedforbeinglistedandtraded | Expirydateoftrading |
| Convertiblebondsandconvertiblebondswithwarrants | ||||||
| Convertiblebonds | February23,2023 | 100yuanperunit | 20,000,000 | March20,2023 | 20,000,000 | February22,2029 |
| Otherderivativesecurities | ||||||
| Stockoptions | April19,2023 | 48.07yuanperunit | 4,776,000 | |||
Notetoissuanceofsecuritiesduringthereportingperiod(forthebondswithdifferentinterestratesduringtheperiod,pleaseexplainseparately):
√Applicable□Notapplicable
1.In2023,theCompany'sstockoptionincentiveplanawarded4,776,000stockoptionsto324participants.ThegrantregistrationwascompletedonApril19,2023.
2.OnFebruary23,2023,theCompanypubliclyissued20,000,000convertiblebonds,eachwithaparvalueofRMB100,foratermofsixyears.ThesebondswerelistedontheShanghaiStockExchangeonMarch20,2023,undertheabbreviation"AimaCB”.(II)ChangesintotalsharesandshareholderstructureaswellasassetsandliabilitiesstructureoftheCompany
√Applicable□NotapplicableDuringthereportingperiod,theCompanyincreaseditscapitalbyconvertingcapitalreservesinto287,350,002shares,repurchasedandcanceled126,000sharesfromdepartingincentiveparticipants,andconverted1,001sharesthroughAimaCB.Asaresult,thetotalissuedcapitaloftheCompanychangedfrom574,700,004sharesto861,925,007shares.TheaforementionedchangesinsharecapitalhadnosignificantimpactontheCompany'sassetandliabilitystructure.(III)Existingstaff-heldshares
□Applicable√NotapplicableIII.ShareholdersandActualController(I)Totalnumberofshareholders
| Totalnumberofcommonshareholdersuptotheendofthereportingperiod | 24,261 |
| Totalnumberofcommonshareholdersasattheendofthelastmonthpriortothedisclosuredayoftheannualreport | 19,329 |
| Totalnumberofpreferredshareholderswhosevotingrightshavebeenrestoredasattheendofthereportingperiod | 0 |
| Totalnumberofpreferredshareholderswhosevotingrightshavebeenrestoredasattheendofthemonthpriortothedateoftheannualreport | 0 |
(II)Tableoftop10shareholders,top10commonshares(ortradableshareswithoutsellingrestrictions)bytheendofreportingperiod
Unit:Shares
| Shareholdingsbytop10shareholders | |||||||
| NamesoftheShareholders(Fullname) | Increase/Decreaseduringthereportingperiod | Numberofsharesheldattheendofthereportingperiod | Percentage(%) | Numberofsharesheldwithsellingrestrictions | Statusofsharespledged,markedorfrozen | Natureoftheshareholder | |
| Statusoftheshares | Quantity | ||||||
| ZhangJian | 197,621,900 | 592,865,700 | 68.78 | 592,865,700 | Nil | Domesticnaturalperson | |
| YanchengDingaiVentureCapitalPartnership(LimitedPartnership) | 11,853,100 | 35,559,300 | 4.13 | 35,559,300 | Nil | Others | |
| HongKongSecuritiesClearingCompanyLtd. | -1,236,835 | 10,780,516 | 1.25 | Nil | Domesticnon-state-ownedlegalentity | ||
| HanJianhua | 2,293,050 | 6,703,050 | 0.78 | Nil | Domesticnaturalperson | ||
| InvescoGreatWallFund-ChinaLifeInsuranceCo.,Ltd.-DividendInsurance-InvescoGreatWallFundChinaLifeBalancedEquityPortfolioSingleAssetManagementPlan(AvailableforSale) | 3,771,825 | 6,339,445 | 0.74 | Nil | Domesticnaturalperson | ||
| PengWei | 2,073,920 | 6,221,760 | 0.72 | Nil | Domesticnaturalperson | ||
| LiShishuang | 2,414,571 | 6,221,692 | 0.72 | Nil | Others | ||
| QiaoBaogang | 1,813,000 | 5,590,000 | 0.65 | Nil | Others | ||
| ChinaMerchantsBankCo.,Ltd.-InvescoGreatWallCoreChinaMerchantsMixed-TypeSecuritiesInvestmentFund | 2,600,158 | 4,800,114 | 0.56 | Nil | Domesticnaturalperson | ||
| EverbrightSunLifeAssetManagement-IndustrialBank-EverbrightSunLifeAssetNo.121DirectedAssetManagementProduct | 4,654,876 | 4,654,876 | 0.54 | Nil | Domesticnaturalperson | ||
| Shareholdingsoftop10shareholdersoftradableshareswithoutsellingrestrictions | |||||||
| NamesoftheShareholders | Numberoftradableshareswithoutsellingrestrictions | Typeandquantityofshares | |
| Type | Quantity | ||
| HongKongSecuritiesClearingCompanyLtd. | 10,780,516 | RMBcommonshares | 10,780,516 |
| HanJianhua | 6,703,050 | RMBcommonshares | 6,703,050 |
| InvescoGreatWallFund-ChinaLifeInsuranceCo.,Ltd.-DividendInsurance-InvescoGreatWallFundChinaLifeBalancedEquityPortfolioSingleAssetManagementPlan(AvailableforSale) | 6,339,445 | RMBcommonshares | 6,339,445 |
| PengWei | 6,221,760 | RMBcommonshares | 6,221,760 |
| LiShishuang | 6,221,692 | RMBcommonshares | 6,221,692 |
| QiaoBaogang | 5,590,000 | RMBcommonshares | 5,590,000 |
| ChinaMerchantsBankCo.,Ltd.-InvescoGreatWallCoreChinaMerchantsMixed-TypeSecuritiesInvestmentFund | 4,800,114 | RMBcommonshares | 4,800,114 |
| EverbrightSunLifeAssetManagement-IndustrialBank-EverbrightSunLifeAssetNo.121DirectedAssetManagementProduct | 4,654,876 | RMBcommonshares | 4,654,876 |
| BankofChinaCo.,Ltd.-InvescoGreatWallCoreZhongjingOne-YearHoldingMixed-TypeSecuritiesInvestmentFund | 4,500,011 | RMBcommonshares | 4,500,011 |
| InvescoGreatWallFund-ChinaLifeInsuranceCo.,Ltd.-TraditionalInsurance-InvescoGreatWallFundChinaLifeBalancedEquityTraditionalPortfolioSingleAssetManagementPlan(AvailableforSale) | 4,155,691 | RMBcommonshares | 4,155,691 |
| Explanationonrepurchaseaccountoftop10shareholders | Asoftheendofthereportingperiod,theCompany'sdedicatedsecuritiesrepurchaseaccountheld14,130,524shares,whichwillbeusedfortheimplementationofstockincentiveplans. | ||
| Explanationondelegatedvotingrights,entrustedvotingrights,abstainedvotingrightsoftheaforesaidshareholders | Nil | ||
| Notestotherelatedrelationorconsistentactionsoftheabove-mentionedshareholders | Nil | ||
| Explanationonpreferencestockholderswithrecoveredvotingrightsandthenumberofstocksheldbythem | Nil | ||
Note:Asoftheendofthereportingperiod,ChangxingDingaiInvestmentManagementPartnership(LimitedPartnership)hasbeenrenamedtoYanchengDingaiVentureInvestmentPartnership(LimitedPartnership).Toptenshareholdersparticipatinginthelendingofsharesundertherefinancingbusiness
□Applicable√NotapplicableChangesinthetoptenshareholderscomparedwiththepreviousperiod
√Applicable□Notapplicable
Unit:Shares
| Changesinthetoptenshareholderscomparedwiththepreviousperiod | |||||
| Nameofshareholder(fullname) | Newentries/exitsthisreportingperiod | Numberofshareslentoutviasecuritieslendingnotyetreturnedatperiodend | Numberofsharesheldinordinaryandcreditaccounts,includingshareslentoutviasecuritieslendingnotyetreturnedatperiodend | ||
| Totalnumber | Percentage(%) | Totalnumber | Percentage(%) | ||
| CITICSecuritiesInvestmentCo.,Ltd. | Exit | ||||
| JinshiEntertainmentEquityInvestment(Hangzhou)Partnership(LimitedPartnership) | Exit | ||||
| InvescoGreatWallFund-ChinaLifeInsuranceCo.,Ltd.-DividendInsurance-InvescoGreatWallFundChinaLifeBalancedEquityPortfolioSingleAssetManagementPlan(AvailableforSale) | Newentry | 0 | 0 | 6,339,445 | 0.74 |
| LiuJianxin | Exit | 0 | 0 | 3,600,120 | 0.42 |
| ChinaMerchantsBankCo.,Ltd.-InvescoGreatWallCoreChinaMerchantsMixed-TypeSecuritiesInvestmentFund | Newentry | 0 | 0 | 4,800,114 | 0.56 |
| EverbrightSunLifeAssetManagement-IndustrialBank-EverbrightSunLifeAssetNo.121DirectedAssetManagementProduct | Newentry | 0 | 0 | 4,654,876 | 0.54 |
Note:CITICSecuritiesInvestmentCo.,Ltd.andJinshiEntertainmentEquityInvestment(Hangzhou)Partnership(LimitedPartnership)werenotamongthetop200holdersintheCompany'sordinaryandmargintradingcreditaccountsattheendofthereportingperiod.Numberofsharesheldbytoptenshareholderswithsellingrestrictionsandthesellingrestrictions
√Applicable□Notapplicable
Unit:Shares
| No. | Namesofshareholderswithsellingrestrictions | Numberofrestrictedshares | Restrictedsharesallowedforpublictrading | Sellingrestrictions | |
| Datewhenpublictradingisallowed | Increaseinrestrictedsharesallowedforpublictrading | ||||
| 1 | ZhangJian | 592,865,700 | June17,2024 | 592,865,700 | Non-tradablefor36monthsfromIPO |
| 2 | YanchengDingaiVentureCapitalPartnership(LimitedPartnership) | 35,559,300 | June17,2024 | 35,559,300 | Non-tradablefor36monthsfromIPO |
| 3 | RenYong | 1,764,000 | Non-tradableduetostockincentive | |
| 4 | GaoHui | 1,764,000 | Non-tradableduetostockincentive | |
| 5 | LuoQingyi | 882,000 | Non-tradableduetostockincentive | |
| 6 | ZhouSixiu | 588,000 | Non-tradableduetostockincentive | |
| 7 | YangWanli | 588,000 | Non-tradableduetostockincentive | |
| 8 | ZhengHui | 588,000 | Non-tradableduetostockincentive | |
| 9 | HuYupeng | 294,000 | Non-tradableduetostockincentive | |
| 10 | YangJunwei | 294,000 | Non-tradableduetostockincentive | |
| Notestotherelatedrelationorconsistentactionsoftheabove-mentionedshareholders | Nil | |||
Note:"RestrictedStockIncentive"referstotherestrictivestockincentiveplanreleasedbytheCompanyonNovember17,2021.Incentiverecipientswillbeeligibletoapplyforlistingandtradingoftheirsharesonlyaftertheperformancemetricsoftheincentiveplanaremet.(III)Strategicinvestorsorgenerallegalentitywhobecamethetop10shareholdersduetoplacingofnewshares
□Applicable√NotapplicableIV.ControllingShareholdersandActualControllers(I)Controllingshareholder
1.Legalentity
□Applicable√Notapplicable
2.Naturalperson
√Applicable□Notapplicable
| Name | ZhangJian |
| Nationality | China |
| Residencyinothercountriesorregions(yes/no) | No |
| Mainoccupationsandpositions | ChairmanoftheBoard&GeneralManager |
3.SpecialstatementaboutnocontrollingshareholderintheCompany
□Applicable√Notapplicable
4.Explanationonchangesincontrollingshareholdersduringthereportingperiod
□Applicable√Notapplicable
5.FrameworkoftheownershipandcontrollingrelationshipbetweentheCompanyanditscontrollingshareholder
√Applicable□Notapplicable
(II)Actualcontroller
1.Legalentity
□Applicable√Notapplicable
2.Naturalperson
√Applicable□Notapplicable
| Name | ZhangJian,ZhangGege |
| Nationality | China |
| Residencyinothercountriesorregions(yes/no) | No |
| Mainoccupationsandpositions | ZhangJianistheChairmanoftheBoardandtheGeneralManageroftheCompany;ZhangGegeisadirectoroftheCompany,theexecutivedirectorandgeneralmanagerofSuiwanwan,andtheexecutivepartnerofYanchengDingai. |
| Controllinginterestsinotherdomesticallyandoverseaslistedcompaniesinthepast10years | Notapplicable |
3.SpecialexplanationontheabsenceofcontrollingshareholdersoftheCompany
□Applicable√Notapplicable
4.ExplanationonchangesintheCompany’sControlduringthereportingperiod
□Applicable√Notapplicable
5.FrameworkofownershipandcontrollingrelationshipbetweentheCompanyandtheactualcontrollers
√Applicable□Notapplicable
6.TheactualcontrollercontrolstheCompanybywayoftrustorotherassetmanagement
□Applicable√Notapplicable(III)Otherinformationaboutcontrollingshareholdersandactualcontrollers
□Applicable√Notapplicable
V.TheCumulativeNumberofSharesPledgedbyTheCompany'sControllingShareholdersorLargestShareholderandTheirConcertPartiesExceeds80%ofTheirTotalShareholdings.
□Applicable√NotapplicableVI.OtherLegalEntityShareholderHoldingMoreThan10%
□Applicable√NotapplicableVII.RestrictionsonShareholdingReduction
□Applicable√NotapplicableVIII.SpecificImplementationofShareRepurchaseDuringtheReportingPeriod
Unit:Yuan(RMB)
| Sharerepurchaseplanname | Sharerepurchaseplanviacentralizedbiddingtransaction |
| Disclosuretimeofsharerepurchaseplan | August29,2023 |
| Plannednumberofsharestorepurchaseandpercentageoftotalsharecapital(%) | Plannedrepurchaseof4,226,542to8,453,085shares,representing0.49%to0.98%ofthetotalsharecapitalatthetimeoftheplan’sdisclosure. |
| Plannedrepurchaseamount | NotlessthanRMB200millionandnotmorethanRMB400million |
| Plannedrepurchaseperiod | NotexceedingsixmonthsfromthedateofapprovalbytheCompany'sBoardofDirectors |
| Purposeofrepurchase | Forstockincentiveoremployeeshareownershipplans |
| Numberofsharesalreadyrepurchased | 14,130,524 |
| Percentageofalreadyrepurchasedsharesrelativetothesharesinvolvedinthestockincentiveplan(%)(ifapplicable) | Notapplicable |
| Progressofsharerepurchasethroughcentralizedbiddingtransaction | Notapplicable |
Sharerepurchaseplanname
| Sharerepurchaseplanname | Repurchaseandcancellationofpartialstockincentiverestrictedshares |
| Disclosuretimeofsharerepurchaseplan | May20,2023 |
| Plannednumberofsharestorepurchaseandpercentageoftotalsharecapital(%) | Plannedrepurchaseof126,000shares,representing0.0146%ofthetotalsharecapitalatthetimeofplandisclosure |
| Plannedrepurchaseamount | RMB1,074,800(plusaccruedbankinterestforthesameperiod). |
| Plannedrepurchaseperiod | July27,2023 |
| Purposeofrepurchase | Cancellation |
| Numberofsharesalreadyrepurchased | 126,000 |
| Percentageofalreadyrepurchasedsharesrelativetothesharesinvolvedinthestockincentiveplan(%)(ifapplicable) | 0.86 |
| Progressofsharerepurchasethroughcentralizedbiddingtransaction | Notapplicable |
Section8PreferredShares
□Applicable√Notapplicable
Section9Bond-relatedInformationI.CorporateBonds,CompanyBonds,andNon-FinancialCorporateDebtFinancingInstruments
?Applicable√NotapplicableII.ConvertibleCorporateBonds
?Applicable√Notapplicable(I)Issuanceofconvertiblebonds
√Applicable?Notapplicable
ApprovedbytheChinaSecuritiesRegulatoryCommissionwiththepermitnumber[2022]3038,theCompanypubliclyissued20,000,000convertiblecorporatebondsonFebruary23,2023.Eachbondhasaparvalueof100yuan,totalinganissuanceamountof2,000,000,000yuan.ChinaSecuritiesPengyuanCreditRatingCo.,Ltd.providedacreditratingreportforthisissuancetitled2022PublicIssuanceofConvertibleCorporateBondsCreditRatingReportforAimaTechnologyGroupCo.,Ltd.TheCompany'scorporatecreditratingisAA,andthecreditratingforthisissuanceofconvertiblebondsisalsoAA.WiththeconsentoftheShanghaiStockExchangeSelf-RegulatorySupervisionDecision[2023]41,theCompany's2,000,000,000yuanconvertiblecorporatebondsbegantradingontheShanghaiStockExchangeonMarch20,2023,“underthebondabbreviation'AimaCB'andbondcode'113666'.
(II)Convertiblebondholdersandguarantorsduringthereportingperiod
√Applicable?Notapplicable
| Convertiblecorporatebondname | AimaCB | |
| Numberofbondholdersatperiod-end | 8,983 | |
| GuarantorsoftheCompany'sconvertiblebonds | N/A | |
| Toptenholdersofconvertiblebondsareasfollows： | ||
| Namesofconvertiblecorporatebondholder | Amountheldatperiod-end(inyuan) | Percentageofholdings(%) |
| ZhangJian | 825,000,000 | 41.25 |
| ChinaConstructionBankCorporation-YifangdaDual-BondEnhancedBond-TypeSecuritiesInvestmentFund | 79,542,000 | 3.98 |
| GuosenSecuritiesCo.,Ltd. | 70,826,000 | 3.54 |
| BankofChinaLimited-YifangdaSteadyIncomeBond-TypeSecuritiesInvestmentFund | 66,010,000 | 3.30 |
| ChinaMinshengBankingCorp.,Ltd.-AnxinSteadyGrowthFlexibleAllocationMixed-TypeSecuritiesInvestmentFund | 25,346,000 | 1.27 |
| PingAnFund-PingAnLifeInsuranceCompanyofChina,Ltd.-Dividend-IndividualInsuranceDividend-PingAnLife-PingAnFundFixedIncomeMandatedInvestmentNo.1SingleAssetManagementPlan | 25,022,000 | 1.25 |
| ChinaMerchantsBankCo.,Ltd.-AnxinSteadyProfitIncreaseMixed-TypeSecuritiesInvestmentFund | 19,547,000 | 0.98 |
| PICCAssetManagement-ChinaMerchantsBank-PICCAssetsAnxinProsperousWorldNo.29AssetManagementProduct | 15,650,000 | 0.78 |
| BankofCommunicationsCo.,Ltd.-XingquanStableProfitIncreaseBond-TypeSecuritiesInvestmentFund | 15,154,000 | 0.76 |
| ShanghaiPudongDevelopmentBankCo.,Ltd.- | 15,138,000 | 0.76 |
(III)Changesinconvertiblebondsduringthereportingperiod
√Applicable?Notapplicable
Unit:Yuan(RMB)
YifangdaYuxiangReturnBond-TypeSecuritiesInvestmentFundConvertiblecorporatebondnames
| Convertiblecorporatebondnames | Beforethecurrentchange | Increase/decreaseinthischange | Afterthecurrentchange | ||
| Conversion | Redemption | Repurchase | |||
| AimaCB | 2,000,000,000 | 40,000 | 1,999,960,000 | ||
AccumulatedConversionofConvertibleBondsDuringtheReportingPeriod
√Applicable?Notapplicable
| Convertiblecorporatebondname | AimaCB |
| Conversionamountduringthereportingperiod(yuan) | 40,000 |
| Numberofsharesconvertedduringthereportingperiod(shares) | 1,001 |
| Cumulativenumberofsharesconverted(shares) | 1,001 |
| Percentageofcumulativesharesconvertedrelativetothetotalnumberofsharesissuedpriortoconversion(%) | 0.000116 |
| Outstandingconversionamount(yuan) | 1,999,960,000 |
| Percentageofunconvertedconvertiblebondsrelativetothetotalissuanceofconvertiblebonds(%) | 99.999884 |
(IV)AdjustmentHistoryofConversionPrices
√Applicable?Notapplicable
Unit:Yuan(RMB)
| Convertiblecorporatebondnames | AimaCB | |||
| Conversionpriceadjustmentdate | Adjustedconversionprice | Disclosuredate | Disclosuremedia | Explanationofconversionpriceadjustment |
| May19,2023 | 39.99 | May13,2023 | ChinaSecuritiesJournal,ShanghaiSecuritiesNews,SecuritiesTimes,SecuritiesDaily | TheCompanyimplementedtheannualequitydistributionfor2022.Accordingtotheregulationsrelatedtoconvertiblebonds,theconversionpriceofAimaCBwasadjustedfrom61.29yuanpershareto39.99yuanpershare. |
| September22,2023 | 39.64 | September16,2023 | ChinaSecuritiesJournal,ShanghaiSecuritiesNews,SecuritiesTimes,SecuritiesDaily | TheCompanycarriedoutthesemi-annualequitydistributionfor2023.Accordingtotheregulationsrelatedtoconvertiblebonds,theconversionpriceofAimaCBwasadjustedfrom39.99yuanpershareto39.64yuanpershare. |
| Latestconversionpriceasoftheendofthereportingperiod | 39.64 | |||
(V)TheCompany'sliabilities,creditratingchanges,andcasharrangementsfordebtrepaymentinfutureyears
√Applicable?NotapplicableInaccordancewiththe"RegulationsontheAdministrationofSecuritiesIssuancebyListedCompanies"andthe"RegulationsontheIssuanceandTradingofCorporateBonds”,theCompanyengagedChinaSecuritiesPengyuanCreditRatingCo.,Ltd.toconductacreditratingfortheAimaCBissuedinFebruary2023.OnMay23,2023,ChinaSecuritiesPengyuanissuedthe"2023Follow-upCreditRatingReportforAimaTechnologyGroupCo.,Ltd.'sPubliclyIssued
ConvertibleCorporateBonds”.TheCompany'scorporatecreditratingwasaffirmedat"AA"witha"stable"outlook,andthecreditratingfortheAimaCBwasalso"AA”.Therehasbeennochangeintheratingoutcomescomparedtothepreviousassessment.TheCompany'soperationsremainstable,withareasonableassetstructureandnosignificantchangesinliabilities.Itscreditstatusissound.TheprimarysourcesofcashfordebtrepaymentinthecomingyearincluderevenuesfromtheCompany'snormalbusinessoperations,cashinflows,andtheliquidationofcurrentassets.(VI)OtherMattersRegardingConvertibleBonds
√Applicable?NotapplicableFromJune7toJune30,2023,theCompany'sstockpricewasbelow85%oftheconversionpriceonatleast15outof30consecutivetradingdays,triggeringthedownwardrevisionclauseoftheAimaCBconversionprice.TheCompanyconvenedthe10thmeetingofthefifthBoardofDirectorsanddecidednottoadjusttheconversionpricedownward.Furthermore,iftheCompany'sstockpricetriggersthedownwardrevisionclauseoftheAimaCBagainwithinthenextthreemonths(fromJuly1,2023,toSeptember30,2023),theCompanywillnotproposeadownwardrevision.FromOctober9toOctober27,2023,theCompany'sstockpricewasagainbelow85%oftheconversionpriceonatleast15outof30consecutivetradingdays,triggeringthedownwardrevisionclauseoftheAimaCBconversionprice.TheCompanyconvenedthe15thmeetingofthefifthBoardofDirectorsanddecidednottoadjusttheconversionpricedownward.Additionally,iftheCompany'sstockpricetriggersthedownwardrevisionclauseoftheAimaCBagaininthenextthreemonths(fromOctober28,2023,toJanuary27,2024),theCompanywillnotproposeadownwardrevisionplan.
Section10Financialreport
I.Auditor’sReport
√Applicable□Notapplicable
Ernst&YoungHuaMing(2024)ShenZiNO.70017005_L01
AimaTechnologyGroupCo,.LTD.ToallshareholdersofAimaTechnologyGroupCo,.LTD.,I.OpinionWehaveauditedthefinancialstatementsofAimaTechnologyGroupCo,.LTD.(the“Company”),whichcomprisetheconsolidatedandcompanybalancesheetsasat31December2023,andtheconsolidatedandcompanyincomestatements,theconsolidatedandcompanystatementofchangesinequityandtheconsolidatedandcompanystatementofcashflowsfortheyearthenended,andnotestothefinancialstatements.Inouropinion,theaccompanyingfinancialstatementspresentfairly,inallmaterialrespects,thefinancialpositionoftheconsolidatedandcompanyasat31December2023,andofitsfinancialperformanceandcashflowsfortheyearthenendedinaccordancewithAccountingStandardsforBusinessEnterprises(“ASBEs”).II.BasisforopinionWeconductedourauditinaccordancewithChinaStandardsonAuditing(“CSAs”).OurresponsibilitiesunderthosestandardsarefurtherdescribedintheAuditor’sresponsibilitiesfortheauditofthefinancialstatementssectionofourreport.WeareindependentoftheCompanyinaccordancewithChinaCodeofEthicsforCertifiedPublicAccountants(the“Code”),andwehavefulfilledourotherethicalresponsibilitiesinaccordancewiththeCode.Webelievethattheauditevidencewehaveobtainedissufficientandappropriatetoprovideabasisforouropinion.III.KeyauditmattersKeyauditmattersarethosemattersthat,inourprofessionaljudgement,wereofmostsignificanceinourauditofthefinancialstatementsofthecurrentperiod.Thesematterswereaddressedinthecontextofourauditofthefinancialstatementsasawhole,andinformingouropinionthereon,andwedonotprovideaseparateopiniononthesematters.Foreachmatterbelow,ourdescriptionofhowourauditaddressedthematterisprovidedinthatcontext.WehavefulfilledtheresponsibilitiesdescribedintheAuditor’sresponsibilitiesfortheauditofthefinancialstatementssectionofourreport,includinginrelationtothesematters.Accordingly,ourauditincludedtheperformanceofproceduresdesignedtorespondtoourassessmentoftherisksofmaterialmisstatementofthefinancialstatements.Theresultsofourauditprocedures,includingtheproceduresperformedtoaddressthemattersbelow,providethebasisforourauditopinionontheaccompanyingfinancialstatements.
| Keyauditmatters: | Howourauditaddressedthekeyauditmatter： |
| Salesrebatesandincentives | |
| ThebookvalueofsalesrebatesandincentivespayableintheconsolidatedfinancialstatementsonDecember31,2023wasRMB398,469,160.37,andthebookvalueofsalesrebatesandincentivespayableintheCompany'sfinancialstatementswasRMB146,780,140.33.Itisstipulatedinthedistributionagreementsignedwiththedealersthatsalesrebatesand | Ourauditproceduresperformedonsalesrebatesandincentivesmainlyinclude:1)understandtheinternalcontrolofsalesrebateandincentivesmanagement,performwalkthroughandcontroltestonidentifiedcontrols;2)checkthedistributionagreementssigned |
| otherspecificincentivesshouldbegivenbasedonthepurchasevolumetooffsetagainstrevenue.Onthebalancesheetdate,salesrebatesandincentivesareestimatedbasedonthedealers’purchasevolumeandotherrebatesandpromotionpolicies.Duetothelargenumberofdealersandthevariousformsofsalesrebatesandincentives,thepurchasevolumeofeachdealerandtheachievementofotherperformancesneedstobeconsideredinordertodeterminetheperiodofsalesrebatesandincentives.Thecalculationofsalesrebatesandincentivesdependsonthejudgmentandestimateofthemanagement. | withseveraldealersin2023andexaminetheprovisionsinthedistributionagreementsonsalesrebatesandincentives;3)selectanumberofdealerstocheckwhetherthesalesrebatesandincentivesobtainedbythemcomplywiththerelevantsalespolicies,andchecktheapplicationofthesedealers'salesrebatesandincentives;4)reviewtheyear-endrebateprovisionprocesspreparedbymanagementandselectsamplestoreviewtherelevantsupportingdocuments;5)executethesubsequentreviewproceduretocheckthesalesrebatepayablebytheCompanyattheendoftheyearandtheactualpaymentstatusthereafter.6)Reviewtheadequacyofdisclosuresrelatedtointernalcontrolofsalesrebateandincentives. |
| Baddebtprovisionofaccountsreceivable | |
| ThebookvalueofaccountsreceivableintheconsolidatedfinancialstatementsonDecember31,2023wasRMB357,840,165.19,andthebookvalueoftheaccountsreceivableintheCompany'sfinancialstatementswasRMB142,148,320.82.Themanagementconsidersthecreditriskcharacteristicsofdifferentcustomersandevaluatestheexpectedcreditlosses(“ECLs”)ofaccountsreceivablebasedontheagingportfolio.Then,onthebasisofECLs,thebaddebtprovisionismeasuredaccordingtotheECLsamountequivalenttotheentirelifetime.Themanagementconsidersreasonableandsupportableinformationaboutpastevents,currentconditionsandforecastsoffutureeconomicconditionswhenassessingECLs.Thedealers’customersarescatteredandnumerous,andtheestimationofbad-debtprovisionforaccountsreceivabledependsonthejudgmentandestimationofthemanagement. | Ourauditproceduresperformedonbaddebtprovisionforaccountsreceivablemainlyinclude:1)fortheaccountsreceivablethathavebeenindividuallyassessedforimpairment,interviewthemanagersofthesalesdepartmentandthelegaldepartment,andreviewthebasisforthemanagementtoestimatethebaddebtprovision,includingthecommunicationcorrespondencesbetweenthemanagementandtherelevantcustomers,themanagement’sassessmentoncreditrisksofthecustomersinconsiderationoftheiroperatingconditionsandhistoricalpaymentrecord,etc.;2)fortheaccountsreceivableassessedbycombination,reviewthemanagement'ssettingofthecombinationofcreditriskcharacteristics,keyinformationsuchastheaging,andwiththecombinationofcreditriskcharacteristics(i.e.agingcombination)asthebase,reviewthemanagement’sbasistoassessthecreditriskandECLsamount,includingtestinghistoricaldefaultdata,evaluatingadjustmentstohistoricallossratesbasedoncurrenteconomicconditions,andevaluatingforward-lookinginformationbyexaminingpubliclyavailablemacroeconomicfactors,andchecktheactualcreditlossesincurredduringtheyear;3)checkthesubsequentcollectionofaccountsreceivable,andconsidertheimpactofsubsequenteventsontheestimationofbaddebtprovision;4)retestthecalculationprocessofbaddebtprovisionforaccountsreceivable,andreviewtheamountofbaddebtprovision; |
IV.OtherinformationThemanagementofAimaTechnologyGroupCo,.LTD.isresponsiblefortheotherinformation.TheotherinformationcomprisestheinformationincludedintheAnnualReport,otherthanthefinancialstatementsandourauditor’sreportthereon.Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationandwedonotexpressanyformofassuranceconclusionthereon.Inconnectionwithourauditofthefinancialstatements,ourresponsibilityistoreadtheotherinformationand,indoingso,considerwhethertheotherinformationismateriallyinconsistentwiththefinancialstatementsorourknowledgeobtainedintheauditorotherwiseappearstobemateriallymisstated.If,basedontheworkwehaveperformed,weconcludethatthereisamaterialmisstatementofthisotherinformation,wearerequiredtoreportthatfact.Wehavenothingtoreportinthisregard.V.ResponsibilitiesofthemanagementandthosechargedwithgovernanceforthefinancialstatementsThemanagementoftheCompanyisresponsibleforthepreparationandfairpresentationofthefinancialstatementsinaccordancewithASBEs,andfordesigning,implementingandmaintainingsuchinternalcontrolasthemanagementdeterminesisnecessarytoenablethepreparationoffinancialstatementsthatarefreefrommaterialmisstatement,whetherduetofraudorerror.Inpreparingthefinancialstatements,themanagementisresponsibleforassessingAimaTechnologyGroupCo,.LTD.’sabilitytocontinueasagoingconcern,disclosing,asapplicable,mattersrelatedtogoingconcernandusingthegoingconcernbasisofaccountingunlesseitherintendtoliquidateAimaTechnologyGroupCo,.LTD.ortoceaseoperationsorhavenorealisticalternativebuttodoso.ThosechargedwithgovernanceisresponsibleforoverseeingAimaTechnologyGroupCo,.LTD.’sfinancialreportingprocess.VI.Auditor’sresponsibilitiesfortheauditofthefinancialstatementsOurobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholearefreefrommaterialmisstatement,whetherduetofraudorerror,andtoissueanauditor’sreportthatincludesouropinion.Reasonableassuranceisahighlevelofassurance,butisnotaguaranteethatanauditconductedinaccordancewithCSAswillalwaysdetectamaterialmisstatementwhenitexists.Misstatementscanarisefromfraudorerrorandaregenerallyconsideredmaterialif,individuallyorintheaggregate,theycouldreasonablybeexpectedtoinfluencetheeconomicdecisionsofuserstakenonthebasisofthesefinancialstatements.AspartofanauditinaccordancewithCSAs,weexerciseprofessionaljudgementandmaintainprofessionalskepticismthroughouttheaudit.Wealso:
(1)Identifyandassesstherisksofmaterialmisstatementofthefinancialstatements,whetherduetofraudorerror,designandperformauditproceduresresponsivetothoserisks,andobtainauditevidencethatissufficientandappropriatetoprovideabasisforouropinion.Theriskofnotdetectingamaterialmisstatementresultingfromfraudishigherthanforoneresultingfromerror,asfraudmayinvolvecollusion,forgery,intentionalomissions,misrepresentations,ortheoverrideofinternalcontrol.
(2)Obtainanunderstandingofinternalcontrolrelevanttotheauditinordertodesignauditproceduresthatareappropriateinthecircumstances.
(3)Evaluatetheappropriatenessofaccountingpoliciesusedandthereasonablenessof
accountingestimatesandrelateddisclosuresmadebythemanagement.
(4)Concludeontheappropriatenessofthemanagement’suseofthegoingconcernbasisofaccountingand,basedontheauditevidenceobtained,whetheramaterialuncertaintyexistsrelatedtoeventsorconditionsthatmaycastsignificantdoubtontheCompany’sabilitytocontinueasagoingconcern.Ifweconcludethatamaterialuncertaintyexists,wearerequiredtodrawattentioninourauditor’sreporttotherelateddisclosuresinthefinancialstatementsor,ifsuchdisclosuresareinadequate,tomodifyouropinion.Ourconclusionsarebasedontheauditevidenceobtaineduptothedateofourauditor’sreport.However,futureeventsorconditionsmaycausetheCompanytoceasetocontinueasagoingconcern.
(5)Evaluatetheoverallpresentation,structureandcontentofthefinancialstatements,includingthedisclosures,andwhetherthefinancialstatementsrepresenttheunderlyingtransactionsandeventsinamannerthatachievesfairpresentation.
(6)ObtainsufficientappropriateauditevidenceregardingthefinancialinformationoftheentitiesorbusinessactivitieswithintheCompanytoexpressanopiniononthefinancialstatements.Weareresponsibleforthedirection,supervisionandperformanceofthegroupaudit.Weremainsolelyresponsibleforourauditopinion.Wecommunicatewiththosechargedwithgovernanceregarding,amongothermatters,theplannedscopeandtimingoftheauditandsignificantauditfindings,includinganysignificantdeficienciesininternalcontrolthatweidentifyduringouraudit.Wealsoprovidethosechargedwithgovernancewithastatementthatwehavecompliedwithrelevantethicalrequirementsregardingindependenceandtocommunicatewiththosechargedwithgovernanceallrelationshipsandothermattersthatmayreasonablybethoughttobearonourindependence,andwhereapplicable,relatedsafeguards.Fromthematterscommunicatedwiththosechargedwithgovernance,wedeterminethosemattersthatwereofmostsignificanceintheauditofthefinancialstatementsofthecurrentperiodandarethereforethekeyauditmatters.Wedescribethesemattersinourauditor’sreportunlesslaworregulationprecludespublicdisclosureaboutthematterorwhen,inextremelyrarecircumstances,wedeterminethatamattershouldnotbecommunicatedinourreportbecausetheadverseconsequencesofdoingsowouldreasonablybeexpectedtooutweighthepublicinterestbenefitsofsuchcommunication.Ernst&YoungHuaMingLLPChineseCertifiedPublicAccountant:GuoJing
ChineseCertifiedPublicAccountant:ZhaoRuiqingBeijing,thePeople’sRepublicofChina15April2024
II.FinancialStatements
ConsolidatedBalanceSheetDecember31,2023PreparedbyAimaTechnologyGroupCo,.LTD.
Unit:Yuan(RMB)
| Items | Notes | December31,2023 | December31,2022 |
| Currentassets: | |||
| Currencyfunds | VII.1 | 6,667,258,951.18 | 6,633,455,070.29 |
| Settlementreserve | |||
| Inter-banklending | |||
| Financialassetsheldfortrading | VII.2 | 176,041,430.92 | 142,668,675.59 |
| Derivativefinancialassets | |||
| Notesreceivable | |||
| Accountsreceivable | VII.5 | 357,840,165.19 | 290,365,547.11 |
| Receivablesfinancing | VII.7 | 8,893,241.61 | 8,332,754.00 |
| Prepayments | VII.8 | 36,627,883.96 | 17,554,574.37 |
| Receivablepremium | |||
| Reinsuranceaccountsreceivable | |||
| Reserveforreinsurancecontractreceivable | |||
| Otherreceivables | VII.9 | 15,687,906.27 | 28,051,920.26 |
| Including:Interestreceivable | 1,212,339.44 | 1,160,941.82 | |
| Dividendreceivable | |||
| Redemptorymonetarycapitalforsale | |||
| Inventories | VII.10 | 575,340,281.28 | 810,511,287.32 |
| Contractassets | |||
| Assetsclassifiedasheldforsale | |||
| Currentportionofnon-currentassets | VII.12 | 1,628,460,684.93 | 3,524,708,328.77 |
| Othercurrentassets | VII.13 | 119,888,220.69 | 77,023,491.16 |
| Totalcurrentassets | 9,586,038,766.03 | 11,532,671,648.87 | |
| Non-currentassets: | |||
| Loanissuingandadvanceincash | |||
| Debtinvestments | |||
| Otherdebtinvestments | |||
| Long-termreceivables | |||
| Long-termequityinvestments | VII.17 | 127,263,995.91 | 128,152,070.40 |
| Otherequityinvestments | |||
| Othernon-currentfinancialassets | |||
| Investmentproperties | VII.20 | 283,701,850.41 | 254,380,733.64 |
| Fixedassets | VII.21 | 2,183,672,286.70 | 2,032,623,909.57 |
| Constructioninprogress | VII.22 | 992,205,279.91 | 86,011,318.10 |
| Productivebiologicalasset | |||
| OilandGasAssets | |||
| Right-of-useassets | VII.25 | 34,112,539.64 | 42,520,495.80 |
| Intangibleassets | VII.26 | 715,925,849.18 | 457,986,772.95 |
| Developmentexpenditures | |||
| Goodwill | |||
| Long-termprepaidexpenses | VII.28 | 39,328,251.23 | 43,895,107.41 |
| Deferredtaxassets | VII.29 | 167,938,840.75 | 84,023,263.65 |
| Othernon-currentassets | VII.30 | 5,762,625,958.57 | 3,809,089,833.43 |
| Totalnon-currentassets | 10,306,774,852.30 | 6,938,683,504.95 | |
| Totalassets | 19,892,813,618.33 | 18,471,355,153.82 | |
| Currentliabilities: | |||
| Short-termborrowings | VII.32 | 511,250,000.00 | |
| Borrowingsfromthecentralbank | |||
| Loansfromotherbanks | |||
| Financialliabilitiesheldfortrading | |||
| Derivativefinancialliabilities | |||
| Notespayable | VII.35 | 6,032,204,440.66 | 6,853,338,997.32 |
| Accountspayable | VII.36 | 2,459,299,045.99 | 2,535,832,081.83 |
| Receiptsinadvance | VII.37 | 19,145,352.20 | 20,619,060.26 |
| Contractliabilities | VII.38 | 625,232,267.97 | 638,429,605.04 |
| Moneyfromsaleoftherepurchasedfinancialassets | |||
| Depositstakingandinterbankplacement | |||
| Actingtradingsecurities | |||
| Incomefromsecuritiesunderwritingoncommission | |||
| Employeebenefitspayable | VII.39 | 171,544,807.08 | 162,900,880.50 |
| Taxesandsurchargespayable | VII.40 | 140,201,158.00 | 154,033,696.44 |
| Otherpayables | VII.41 | 628,111,216.14 | 564,648,489.37 |
| Including:interestpayable | |||
| Dividendspayable | |||
| Servicechargeandcommissionpayable | |||
| Payablereinsurance | |||
| Liabilitiesclassifiedasheldforsale | |||
| Currentportionofnon-currentliabilities | VII.43 | 17,568,122.60 | 5,682,224.67 |
| Othercurrentliabilities | VII.44 | 28,516,899.32 | 24,329,644.32 |
| Totalcurrentliabilities | 10,121,823,309.96 | 11,471,064,679.75 | |
| Non-currentliabilities: | |||
| Reserveforinsurancecontract | |||
| Long-termborrowings | |||
| Bondspayable | VII.46 | 1,644,650,128.51 | |
| Including:preferredshares | |||
| Perpetualbond | |||
| Leaseliabilities | VII.47 | 43,479,059.60 | 53,522,636.81 |
| Long-termpayables | |||
| Long-termemployeebenefitspayable | |||
| Provisions | |||
| Deferredincome | VII.51 | 292,432,400.56 | 198,066,664.29 |
| Deferredtaxliabilities | VII.29 | 10,356,257.80 | 14,379,454.97 |
| Othernon-currentliabilities | |||
| Totalnon-currentliabilities | 1,990,917,846.47 | 265,968,756.07 | |
| Totalliabilities | 12,112,741,156.43 | 11,737,033,435.82 | |
| Shareholders’equity： | |||
| Sharecapital | VII.53 | 861,925,007.00 | 574,700,004.00 |
| Otherequityinstruments | 432,645,369.56 | ||
| Including:preferredshares | |||
| Perpetualbond | |||
| Capitalreserves | VII.55 | 1,763,412,639.40 | 1,977,765,415.63 |
| Less:Treasurystock | VII.56 | 481,505,173.88 | 134,953,200.00 |
| Othercomprehensiveincome | 268.34 | ||
| Specialreserves | |||
| Surplusreserves | VII.59 | 430,962,503.50 | 290,784,296.91 |
| Generalrisksreserves | |||
| Retainedearnings | VII.60 | 4,704,597,603.69 | 4,012,879,593.44 |
| Totalshareholders’equityattributabletotheparentcompany | 7,712,038,217.61 | 6,721,176,109.98 | |
| Minorityshareholders’equity | 68,034,244.29 | 13,145,608.02 | |
| Totalshareholder’sequity | 7,780,072,461.90 | 6,734,321,718.00 | |
| TotalLiabilitiesandShareholder’sequity | 19,892,813,618.33 | 18,471,355,153.82 |
Legalrepresentative:ZhangJianFinancialcontroller:ZhengHuiAccountingsupervisor:ZhengHui
BalanceSheet,ParentCompany
December31,2023Preparedby:AimaTechnologyGroupCo,.LTD.
Unit:Yuan(RMB)
| Items | Notes | December31,2023 | December31,2022 |
| Currentassets: | |||
| Currencyfunds | 3,759,867,193.06 | 4,266,016,159.86 | |
| Financialassetsheldfortrading | 96,011,328.54 | 73,480,000.00 | |
| Derivativefinancialassets | |||
| Notesreceivable | |||
| Accountsreceivable | XIX.1 | 142,148,320.82 | 132,291,280.96 |
| Receivablesfinancing | 800,000.00 | ||
| Prepaidexpenses | 209,322,655.87 | 17,235,274.40 | |
| Otherreceivables | XIX.2 | 1,711,340,208.96 | 68,706,590.46 |
| Including:Interestreceivable | 415,312.11 | 350,530.03 | |
| Dividendreceivable | |||
| Inventories | 1,219,904.61 | 4,103,773.21 | |
| Contractassets | |||
| Assetsclassifiedasheldforsale | |||
| Currentportionofnon-currentassets | 982,088,082.19 | 3,306,865,479.45 | |
| Othercurrentassets | 759,959.76 | ||
| Totalcurrentassets | 6,903,557,653.81 | 7,868,698,558.34 | |
| Non-currentassets: | |||
| Debtinvestments | |||
| Otherdebtinvestments | |||
| Long-termreceivables | |||
| Long-termequityinvestments | XIX.3 | 1,110,377,202.67 | 1,141,022,337.98 |
| Otherequityinvestments | |||
| Othernon-currentfinancialassets | |||
| Investmentproperties | 364,958,228.68 | 396,853,576.99 | |
| Fixedassets | 48,328,609.98 | 53,213,577.74 | |
| Constructioninprogress | 14,009,791.48 | 21,015,488.53 | |
| Productivebiologicalasset | |||
| OilandGasAssets | |||
| Right-of-useassets | 2,197,714.93 | 6,601,760.89 | |
| Intangibleassets | 134,873,847.52 | 101,097,036.78 | |
| Developmentexpenditures | |||
| Goodwill | |||
| Long-termprepaidexpenses | 12,210,197.77 | 21,412,482.96 | |
| Deferredtaxassets | 66,307,429.84 | ||
| Othernon-currentassets | 2,641,121,253.90 | 1,402,486,388.12 | |
| Totalnon-currentassets | 4,394,384,276.77 | 3,143,702,649.99 | |
| Totalassets | 11,297,941,930.58 | 11,012,401,208.33 | |
| Currentliabilities: | |||
| Short-termborrowings | |||
| Financialliabilitiesheldfortrading | |||
| Derivativefinancialliabilities | |||
| Notespayable | 2,357,961,214.82 | 4,513,457,663.63 | |
| Accountspayable | 529,945,172.71 | 662,254,935.86 | |
| Receiptsinadvance | 19,612,420.37 | 21,964,709.66 | |
| Contractliabilities | 199,774,250.25 | 224,829,884.12 | |
| Employeebenefitspayable | 46,809,701.56 | 39,866,027.04 | |
| Taxesandsurchargespayable | 83,023,161.77 | 29,001,097.89 | |
| Otherpayables | 406,117,301.77 | 396,088,908.57 | |
| Including:interestpayable | |||
| Dividendspayable | |||
| Liabilitiesclassifiedasheldforsale | |||
| Currentportionofnon-currentliabilities | 7,353,401.71 | 4,555,680.46 | |
| Othercurrentliabilities | 6,713,755.59 | 8,375,154.72 | |
| Totalcurrentliabilities | 3,657,310,380.55 | 5,900,394,061.95 | |
| Non-currentliabilities: | |||
| Long-termborrowings | |||
| Bondspayable | 1,644,650,128.51 | ||
| Including:preferredshares | |||
| Perpetualbond | |||
| Leaseliabilities | 2,353,501.71 | ||
| Long-termpayables | |||
| Long-termemployeebenefitspayable | |||
| Provisions | |||
| Deferredincome | 67,366,822.35 | 52,366,165.75 | |
| Deferredtaxliabilities | 10,790,576.99 | ||
| Othernon-currentliabilities | |||
| Totalnon-currentliabilities | 1,712,016,950.86 | 65,510,244.45 | |
| Totalliabilities | 5,369,327,331.41 | 5,965,904,306.40 | |
| Shareholders’equity： | |||
| Sharecapital | 861,925,007.00 | 574,700,004.00 | |
| Otherequityinstruments | 432,645,369.56 | ||
| Including:preferredshares | |||
| Perpetualbond | |||
| Capitalreserves | 1,956,903,933.04 | 2,173,462,800.28 | |
| Less:Treasurystock | 481,505,173.88 | 134,953,200.00 | |
| Othercomprehensiveincome | |||
| Specialreserves | |||
| Surplusreserves | 430,962,503.50 | 290,784,296.91 | |
| Retainedearnings | 2,727,682,959.95 | 2,142,503,000.74 | |
| Totalshareholder’sequity | 5,928,614,599.17 | 5,046,496,901.93 | |
| TotalLiabilitiesandShareholder’sequity | 11,297,941,930.58 | 11,012,401,208.33 | |
Legalrepresentative:ZhangJianFinancialcontroller:ZhengHuiAccountingsupervisor:ZhengHui
ConsolidatedIncomeStatement
2023
Unit:Yuan(RMB)
| Items | Notes | 2023 | 2022 |
| I.Revenue | 21,036,120,862.29 | 20,802,212,994.46 | |
| Including:operatingrevenue | VII.61 | 21,036,120,862.29 | 20,802,212,994.46 |
| Interestincome | |||
| Earnedinsurancepremium | |||
| Servicechargeandcommissionincome | |||
| II.Totaloperatingcosts | 18,957,888,320.63 | 18,647,645,240.06 | |
| Including:costofsales | VII.61 | 17,562,865,946.73 | 17,398,502,632.36 |
| Interestpayment | |||
| Servicechargeandcommissionpayment | |||
| SurrenderValue | |||
| Compensationexpenses,net | |||
| Provisionofreserveforinsuranceliabilities,net | |||
| Paymentofpolicydividend | |||
| Reinsuranceexpenses | |||
| Taxesandsurcharges | VII.62 | 100,346,301.43 | 105,061,796.17 |
| Sellingexpenses | VII.63 | 641,208,788.04 | 587,315,848.35 |
| Administrativeexpenses | VII.64 | 474,276,849.74 | 432,777,222.67 |
| Researchanddevelopmentexpenses | VII.65 | 589,467,221.52 | 506,685,038.01 |
| Financialexpenses | VII.66 | -410,276,786.83 | -382,697,297.50 |
| Including:Interestexpenses | 24,713,122.27 | 8,693,658.65 | |
| Interestincome | 437,121,544.42 | 394,300,036.06 | |
| Add:Otherincome | VII.67 | 173,159,360.74 | 78,130,046.97 |
| Investmentincome(lossisstatedwith“-”) | VII.68 | -21,396,254.38 | -3,687,987.74 |
| Including:Incomefrominvestmentsinassociatesandjointventures | -28,590,454.64 | -21,624,009.83 | |
| Incomefromthederecognitionoffinancialassetsmeasuredatamortisedcost | |||
| Exchangeincome(lossisstatedwith“-”) | |||
| Netpositionhedginggains(lossisstated |
| with“-”) | |||
| Fairvaluegains(lossisstatedwith“-”) | VII.70 | -17,226,650.77 | -12,120,000.00 |
| Creditimpairmentlosses(lossisstatedwith“-”) | VII.71 | -15,472,032.67 | 18,855,144.03 |
| Impairmentlossesofassets(lossisstatedwith“-”) | VII.72 | -3,823,176.99 | -3,399,468.47 |
| Gainsondisposalofnon-currentassets(lossisstatedwith“-”) | VII.73 | 456,784.34 | 1,286,052.98 |
| III.Operatingprofit(lossisstatedwith“-”) | 2,193,930,571.93 | 2,233,631,542.17 | |
| Add:Non-operatingincome | VII.74 | 40,582,816.75 | 34,198,940.47 |
| Less:Non-operatingexpenses | VII.75 | 21,155,434.76 | 40,844,163.45 |
| IV.Totalprofit(totallossisstatedwith“-”) | 2,213,357,953.92 | 2,226,986,319.19 | |
| Less:Incometaxexpense | VII.76 | 317,011,002.31 | 354,443,490.41 |
| V.NetProfit(netlossisstatedwith“-”) | 1,896,346,951.61 | 1,872,542,828.78 | |
| (I)Classifiedbycontinuityofoperations | |||
| 1.Profitfromcontinuingoperations(lossisstatedwith“-”) | 1,896,346,951.61 | 1,872,542,828.78 | |
| 2.Profitfromdiscontinuedoperations(lossisstatedwith“-”) | |||
| (II)Classifiedbyownership | |||
| 1.Profitattributabletoownersoftheparent(lossisstatedwith“-”) | 1,881,115,782.35 | 1,873,433,343.24 | |
| 2.ProfitattributabletoMinorityshareholders’equity(lossisstatedwith“-”) | 15,231,169.26 | -890,514.46 | |
| VI.Othercomprehensiveincome,netoftax | 268.34 | ||
| (I)Othercomprehensiveincome,netoftax,attributabletoownersoftheparent | 268.34 | ||
| 1.Othercomprehensiveincomethatwillnotbereclassifiedtoprofitorloss | |||
| (1)Remeasurementofadefinedbenefitplan | |||
| (2)Othercomprehensiveincomeusingtheequitymethodthatwillnotbereclassifiedtoprofitorloss | |||
| (3)Changeinthefairvalueofotherequityinvestments | |||
| (4)Changeinthefairvalueoftheentity’sowncreditrisks | |||
| 2.Othercomprehensiveincomethatmaybereclassifiedtoprofitorloss | 268.34 | ||
| (1)Othercomprehensiveincomeusingtheequitymethodthatmaybereclassifiedtoprofitorloss | |||
| (2)Changeinthefairvalueofotherdebtinvestments | |||
| (3)Amountrecognizedinothercomprehensiveincomeresultingfromthereclassificationoffinancialassets | |||
| (4)Provisionforcreditimpairmentofreceivablesfinancing | |||
| (5)Cashflowhedgereserve(Effectiveportionofcashflowhedges) | |||
| (6)Exchangedifferencesontranslationofforeigncurrencyfinancialstatements | 268.34 | ||
| (7)Others | |||
| (II)Othercomprehensiveincome,netoftax,attributabletoMinorityshareholders’equity | |||
| VII.Totalcomprehensiveincome | 1,896,347,219.95 | 1,872,542,828.78 | |
| (I)Totalcomprehensiveincomeattributabletoownersoftheparent | 1,881,116,050.69 | 1,873,433,343.24 | |
| (II)TotalcomprehensiveincomeattributabletoMinorityshareholders’equity | 15,231,169.26 | -890,514.46 | |
| VIII.Earningspershare: | |||
| (I)Basicearningpershare(Yuan/share) | 2.20 | 3.31 | |
| (II)Dilutedearningpershare(Yuan/share) | 2.12 | 3.31 | |
Wherebusinesscombinationsinvolvingentitiesundercommoncontroloccurredinthecurrentperiod,thenetprofitachievedbytheacquireesbeforethecombinationswasRMB0.00,withtheamountforlastyearbeingRMB0.00.Legalrepresentative:ZhangJianFinancialcontroller:ZhengHuiAccountingsupervisor:ZhengHui
IncomeStatement,ParentCompany
2023
Unit:Yuan(RMB)
| Items | Notes | 2023 | 2022 |
| I.Operatingrevenue | XIX.4 | 8,354,752,676.28 | 8,263,777,075.64 |
| Less:costofsales | XIX.4 | 7,874,127,442.14 | 7,659,354,139.02 |
| Taxesandsurcharges | 17,617,838.74 | 20,983,232.85 | |
| Sellingexpenses | 221,248,416.20 | 229,438,863.69 | |
| Administrativeexpenses | 268,936,664.85 | 237,029,411.46 | |
| Researchanddevelopmentexpenses | 2,758,407.10 | 8,732,594.46 | |
| Financialexpenses | -241,758,174.14 | -252,311,999.65 | |
| Including:Interestexpenses | 22,365,446.32 | 426,973.01 | |
| Interestincome | 264,174,764.59 | 255,146,331.63 | |
| Add:Otherincome | 53,986,193.40 | 3,541,812.97 | |
| Investmentincome(lossisstatedwith“-”) | XIX.5 | 1,576,271,319.28 | 647,705,392.11 |
| Including:Incomefrominvestmentsinassociatesandjointventures | -38,817,295.52 | -30,086,884.58 | |
| Incomefromthederecognitionoffinancialassetsmeasuredatamortisedcost | |||
| Netpositionhedginggains(lossisstatedwith“-”) | |||
| Fairvaluegains(lossisstatedwith“-”) | -17,395,271.46 | -12,120,000.00 | |
| Creditimpairmentlosses(lossisstatedwith“-”) | -2,262,133.56 | -5,964,963.11 | |
| Impairmentlosses(lossisstatedwith“-”) | |||
| Gainsondisposalofnon-currentassets(lossisstatedwith“-”) | 366,292.26 | 149,760.98 | |
| II.OperatingProfit(lossisstatedwith“-”) | 1,822,788,481.31 | 993,862,836.76 | |
| Add:Non-operatingincome | 8,995,591.36 | 5,728,258.49 | |
| Less:Non-operatingexpenses | 7,017,560.54 | 30,327,413.42 | |
| III.Totalprofit(totallossisstatedwith“-”) | 1,824,766,512.13 | 969,263,681.83 | |
| Less:Incometaxexpense | 50,188,780.82 | 79,720,727.74 | |
| IV.NetProfit(netlossisstatedwith“-”) | 1,774,577,731.31 | 889,542,954.09 | |
| (I)Profitfromcontinuingoperations(netlossisstatedwith“-”) | 1,774,577,731.31 | 889,542,954.09 |
| (II)Profitfromadiscontinuedoperation(netlossisstatedwith“-”) | |||
| V.Othercomprehensiveincome,netoftax | |||
| (I)Othercomprehensiveincomewhichcannotbere-classifiedintothegainandloss | |||
| 1.Remeasurementofadefinedbenefitplan | |||
| 2.Othercomprehensiveincomeusingtheequitymethodthatwillnotbereclassifiedtoprofitorloss | |||
| 3.Changeinthefairvalueofotherequityinvestments | |||
| 4.Changeinthefairvalueoftheentity’sowncreditrisks | |||
| (II)Othercomprehensiveincomethatmaybereclassifiedtoprofitorloss | |||
| 1.Othercomprehensiveincomeusingtheequitymethodthatmaybereclassifiedtoprofitorloss | |||
| 2.Changeinthefairvalueofotherdebtinvestments | |||
| 3.Amountrecognisedinothercomprehensiveincomeresultingfromthereclassificationoffinancialassets | |||
| 4.Provisionforcreditimpairmentofreceivablesfinancing | |||
| 5.Cashflowhedgereserve(Effectiveportionofcashflowhedges) | |||
| 6.Exchangedifferencesontranslationofforeigncurrencyfinancialstatements | |||
| 7.Others | |||
| VI.Totalcomprehensiveincome | 1,774,577,731.31 | 889,542,954.09 | |
| VII.Earningspershare: | |||
| (I)Basicearningpershare(Yuan/share) | |||
| (II)Dilutedearningpershare(Yuan/share) | |||
Legalrepresentative:ZhangJianFinancialcontroller:ZhengHuiAccountingsupervisor:ZhengHui
ConsolidatedStatementofCashFlows
2023
Unit:Yuan(RMB)
| Items | Notes | 2023 | 2022 |
| I.Cashflowsfromoperatingactivities | |||
| Cashreceiptsfromthesaleofgoodsandtherenderingofservices | 23,896,464,921.82 | 23,380,468,973.47 | |
| Netincreaseofcustomers’depositandduefrombanks | |||
| Netincreaseofborrowingsfromthecentralbank | |||
| Netincreaseofborrowingsfromotherfinancialinstitutions | |||
| Cashreceivedfromthepremiumoftheoriginalinsurancecontract | |||
| Netcashreceivedfromthereinsurancebusiness | |||
| Netincreaseofthereservefrompolicyholdersandinvestment | |||
| Cashreceivedfrominterest,servicechargeandcommission | |||
| Netincreaseofloanfromotherbanks | |||
| Netincreaseoffundfromrepurchasebusiness | |||
| Netcashreceivedfromsecuritiestradingoncommission | |||
| Receiptsoftaxesandsurchargesrefunds | 68,378,509.66 | 116,364,189.79 | |
| Othercashreceiptsrelatingtooperatingactivities | VII.78 | 724,345,794.56 | 404,578,051.90 |
| Totalcashinflowsfromoperatingactivities | 24,689,189,226.04 | 23,901,411,215.16 | |
| Cashpaymentsforgoodsandservices | 19,878,826,053.53 | 16,219,896,063.13 | |
| Netincreaseofloansandadvancestocustomers | |||
| Netincreaseofduefromcentralbankandduefromotherbanks | |||
| Cashfrompaymentforsettlementoftheoriginalinsurancecontract | |||
| Netincreaseofthelendingcapital | |||
| Cashpaidforinterest,servicechargeandcommission | |||
| Cashforpaymentofpolicydividend | |||
| Cashpaymentstoandonbehalfofemployees | 1,287,828,119.70 | 1,225,598,702.09 | |
| Paymentsofalltypesoftaxesandsurcharges | 944,279,435.22 | 837,473,429.98 | |
| Othercashpaymentsrelatingtooperatingactivities | VII.78 | 713,979,383.69 | 566,988,903.02 |
| Totalcashoutflowsfromoperatingactivities | 22,824,912,992.14 | 18,849,957,098.22 | |
| Netcashflowsfromoperatingactivities | 1,864,276,233.90 | 5,051,454,116.94 | |
| II.Cashflowsfrominvestingactivities: | |||
| Cashreceiptsfromreturnsofinvestments | VII.78 | 3,798,013,400.00 | 1,148,910,000.00 |
| Cashreceiptsfromreturnsoninvestments | 400,454,611.75 | 20,575,165.50 | |
| Netcashreceiptsfromdisposaloffixedassets,intangibleassetsandotherlong-termassets | 19,630,741.82 | 15,787,319.61 | |
| Netcashreceiptsfromdisposalofsubsidiariesandotherbusinessunits | |||
| Netcashreceiptsfromacquisitionofsubsidiaries | VII.78 | 33,504,341.91 | |
| Othercashreceiptsrelatingtoinvestingactivities | |||
| Totalcashinflowsfrominvestingactivities | 4,251,603,095.48 | 1,185,272,485.11 | |
| Cashpaymentstoacquirefixedassets,intangibleassetsandotherlong-termassets | 1,960,197,416.09 | 842,288,846.59 | |
| Cashpaymentsforinvestments | 4,201,598,392.90 | 2,521,302,800.00 | |
| Netincreaseofthepledgedloan | |||
| Netcashpaymentsforacquisitionof | |||
| subsidiariesandotherbusinessunits | |||
| Othercashpaymentsrelatingtoinvestingactivities | |||
| Totalcashoutflowsfrominvestingactivities | 6,161,795,808.99 | 3,363,591,646.59 | |
| Netcashflowsfrominvestingactivities | -1,910,192,713.51 | -2,178,319,161.48 | |
| III.Cashflowsfromfinancingactivities: | |||
| Cashproceedsfrominvestmentsbyothers | 10,000,000.00 | 29,989,800.00 | |
| Including:CashreceiptsfromcapitalcontributionsfromMinorityshareholders’equityofsubsidiaries | 10,000,000.00 | 4,500,000.00 | |
| Cashreceiptsfromborrowing | 1,996,200,000.00 | 511,250,000.00 | |
| Othercashreceiptsrelatingtofinancingactivities | VII.78 | 511,250,000.00 | |
| Totalcashinflowsfromfinancingactivities | 2,517,450,000.00 | 541,239,800.00 | |
| Cashrepaymentsfordebts | 511,250,000.00 | ||
| Cashpaymentsfordistributionofdividendsorprofitandinterestexpenses | 1,049,358,585.51 | 206,028,719.13 | |
| Including:Dividendsorprofitpaidtominorityshareholdersofsubsidiaries | 778,717.63 | ||
| Othercashpaymentsrelatingtofinancingactivities | VII.78 | 412,292,512.63 | 517,454,858.42 |
| Totalcashoutflowsfromfinancingactivities | 1,972,901,098.14 | 723,483,577.55 | |
| Netcashflowsfromfinancingactivities | 544,548,901.86 | -182,243,777.55 | |
| IV.Effectofforeignexchangeratechangesoncashandcashequivalents | -274,612.34 | -967,800.79 | |
| V.Netincreaseincashandcashequivalents | 498,357,809.91 | 2,689,923,377.12 | |
| Add:Cashandcashequivalentsatthebeginningoftheyear | 5,536,066,687.82 | 2,846,143,310.70 | |
| VI.Cashandcashequivalentsattheendoftheyear | 6,034,424,497.73 | 5,536,066,687.82 | |
Legalrepresentative:ZhangJianFinancialcontroller:ZhengHuiAccounting
supervisor:ZhengHui
StatementofCashFlows,ParentCompany
2023
Unit:Yuan(RMB)
| Items | Notes | 2023 | 2022 |
| I.Cashflowsfromoperatingactivities | |||
| Cashreceiptsfromthesaleofgoodsandtherenderingofservices | 9,438,114,650.31 | 9,269,088,699.76 | |
| Receiptsoftaxandsurchargesrefunds | 6,299,378.62 | 6,047,760.47 | |
| Othercashreceiptsrelatingtooperatingactivities | 835,991,369.61 | 123,287,403.34 | |
| Totalcashinflowsfromoperatingactivities | 10,280,405,398.54 | 9,398,423,863.57 | |
| Cashpaymentsforgoodsandservices | 11,352,110,681.81 | 6,519,217,665.28 | |
| Cashpaymentstoandonbehalfofemployees | 244,553,401.41 | 240,801,779.74 | |
| Paymentsofalltypesoftaxesandsurcharges | 145,435,668.96 | 97,132,482.41 | |
| Othercashpaymentsrelatingtooperatingactivities | 214,734,997.84 | 673,977,904.75 | |
| Totalcashoutflowsfromoperatingactivities | 11,956,834,750.02 | 7,531,129,832.18 | |
| Netcashflowsfromoperatingactivities | -1,676,429,351.48 | 1,867,294,031.39 | |
| II.Cashflowsfrominvestingactivities: | |||
| Cashreceiptsfromreturnsofinvestments | 4,261,278,955.56 | 407,856,433.66 | |
| Cashreceiptsfromreturnsoninvestments | 1,981,835,143.07 | 685,878,871.32 | |
| Netcashreceivedfromdisposaloffixedassets,intangibleassetsandotherlong-termassets | 494,489.30 | 2,116,717.78 | |
| Netcashreceiptsfromdisposalofsubsidiariesandotherbusinessunits | |||
| Othercashreceiptsrelatingtoinvestingactivities | 78,400,000.00 | 170,000,000.00 | |
| Totalcashinflowsfrominvestingactivities | 6,322,008,587.93 | 1,265,852,022.76 | |
| Cashpaymentstoacquirefixedassets,intangibleassetsandotherlong-termassets | 139,274,868.57 | 113,428,354.80 | |
| Cashpaymentsforinvestments | 3,104,473,596.77 | 924,392,160.00 | |
| Netcashpaymentsforacquisitionofsubsidiariesandotherbusinessunits | |||
| Othercashpaymentsrelatingtootherinvestingactivities | 1,662,407,805.56 | 15,400,000.00 | |
| Totalcashoutflowsfrominvestingactivities | 4,906,156,270.90 | 1,053,220,514.80 | |
| Netcashflowsfrominvestingactivities | 1,415,852,317.03 | 212,631,507.96 | |
| III.Cashflowsfromfinancingactivities: | |||
| Cashproceedsfrominvestmentsbyothers | 28,909,800.00 | ||
| Cashreceiptsfromborrowings | 1,996,200,000.00 | ||
| Othercashreceiptsrelatingtofinancingactivities | |||
| Totalcashinflowsfromfinancingactivities | 1,996,200,000.00 | 28,909,800.00 | |
| Cashrepaymentsfordebts | |||
| Cashpaymentsfordistributionofdividendsorprofitandinterestexpenses | 1,049,358,585.51 | 205,250,001.50 | |
| Othercashpaymentsrelatingtofinancingactivities | 405,630,244.74 | 4,761,904.76 | |
| Totalcashoutflowsfromfinancingactivities | 1,454,988,830.25 | 210,011,906.26 | |
| Netcashflowsfromfinancingactivities | 541,211,169.75 | -181,102,106.26 | |
| IV.Effectofforeignexchangeratechangesoncashandcashequivalents | -81,207.07 | -713,369.57 | |
| V.Netincreaseincashandcashequivalents | 280,552,928.23 | 1,898,110,063.52 | |
| Add:Cashandcashequivalentsatthebeginningoftheyear | 3,279,300,018.25 | 1,381,189,954.73 | |
| VI.Cashandcashequivalentsattheendoftheyear | 3,559,852,946.48 | 3,279,300,018.25 | |
Legalrepresentative:ZhangJianFinancialcontroller:ZhengHuiAccountingsupervisor:ZhengHui
ConsolidatedStatementofChangesinOwner’sEquity
2023
Unit:Yuan(RMB)
| Items | 2023 | ||||||||||||||
| Owners’equityattributabletotheparentcompany | Non-controllinginterests | Totalshareholders’equity | |||||||||||||
| Sharecapital | Otherequityinstruments | Capitalreserves | Less:Treasurystock | Othercomprehensiveincome | Specialreserves | SurplusReserves | Reservesforgeneralrisks | Retainedearnings | Others | Sub-total | |||||
| Preferredshares | Perpetualbond | Others | |||||||||||||
| I.Balanceatendofprioryear | 574,700,004.00 | 1,977,765,415.63 | 134,953,200.00 | 290,784,296.91 | 4,012,879,593.44 | 6,721,176,109.98 | 13,145,608.02 | 6,734,321,718.00 | |||||||
| Add:Changesinaccountingpolicy | |||||||||||||||
| Correctionofpriorperioderrors | |||||||||||||||
| Businesscombinationinvolvingentitiesundercommoncontrol | ||||||||||||||
| Others | ||||||||||||||
| II.Balanceatthebeginningoftheyear | 574,700,004.00 | 1,977,765,415.63 | 134,953,200.00 | 290,784,296.91 | 4,012,879,593.44 | 6,721,176,109.98 | 13,145,608.02 | 6,734,321,718.00 | ||||||
| III.Changesfortheyear(decreaseisstatedwith“-”) | 287,225,003.00 | 432,645,369.56 | -214,352,776.23 | 346,551,973.88 | 268.34 | 140,178,206.59 | 691,718,010.25 | 990,862,107.63 | 54,888,636.27 | 1,045,750,743.90 | ||||
| (I)Totalcomprehensiveincome | 268.34 | 1,881,115,782.35 | 1,881,116,050.69 | 15,231,169.26 | 1,896,347,219.95 | |||||||||
| (II)Shareholders’contributionsandreductionincapital | -124,999.00 | 432,645,369. | 72,997,225.77 | 346,551,973.88 | 139,020.00 | 159,104,642.45 | 39,657,467.01 | 198,762,109.46 |
| 56 | |||||||||||||
| 1.Capitalcontributionsbyshareholders | 1,001.00 | -8,653.09 | 39,834.69 | 32,182.60 | 32,182.60 | ||||||||
| 2.Capitalcontributedbyotherequityinstrumentsholders | 432,654,022.65 | 432,654,022.65 | 432,654,022.65 | ||||||||||
| 3.Amountofshare-basedpaymentsrecognisedinequity | 70,168,931.98 | 70,168,931.98 | 70,168,931.98 | ||||||||||
| 4.Others | -126,000.00 | 2,788,459.10 | 346,551,973.88 | 139,020.00 | -343,750,494.78 | 39,657,467.01 | -304,093,027.77 | ||||||
| (III)ProfitDistribution | - | 140,178,206.59 | -1,189,536,792.10 | -1,049,358,585.51 | - | -1,049,358,585.51 | |||||||
| 1.Transfertosurplus | 140,178,2 | -140,178,20 |
| reserves | 06.59 | 6.59 | |||||||||
| 2.Transfertogeneralrisksreserves | |||||||||||
| 3.Distributiontoshareholders | -1,049,358,585.51 | -1,049,358,585.51 | -1,049,358,585.51 | ||||||||
| 4.Others | |||||||||||
| (IV)Internalcarry-overofowners’equity | 287,350,002.00 | -287,350,002.00 | |||||||||
| 1.Capitalisationofcapitalreserves | 287,350,002.00 | -287,350,002.00 | |||||||||
| 2.Capitalisationofsurplusreserves | |||||||||||
| 3.Lossmadeupby |
| surplusreserves | |||||||||||||
| 4.Transferofchangesinthedefinedbenefitplantoretainedearnings | |||||||||||||
| 5.Transferofothercomprehensiveincometoretainedearnings | |||||||||||||
| 6.Others | |||||||||||||
| (V)Specialreserves | |||||||||||||
| 1.Appropriationfortheyear | |||||||||||||
| 2.Utilizationfortheyear | |||||||||||||
| (VI)Others | |||||||||||||
| IV.Balanceatendof | 861,925,007.0 | 432,645, | 1,763,412, | 481,505, | 430,962,5 | 4,704,597,6 | 7,712,038, | 68,034,24 | 7,780,07 |
| year | 0 | 369.56 | 639.40 | 173.88 | 268.34 | 03.50 | 03.69 | 217.61 | 4.29 | 2,461.90 |
Items
| Items | 2022 | ||||||||||||||
| Owners’equityattributabletotheparentcompany | Non-controllinginterests | Totalshareholders’equity | |||||||||||||
| Sharecapital | Otherequityinstruments | Capitalreserves | Less:Treasurystock | Othercomprehensiveincome | Specialreserves | SurplusReserves | Reservesforgeneralrisks | Retainedearnings | Others | Sub-total | |||||
| Preferredshares | Perpetualbond | Others | |||||||||||||
| I.Balanceatendofprioryear | 403,660,003.00 | 1,935,686,839.31 | 201,830,001.50 | 2,433,650,547.11 | 4,974,827,390.92 | 4,940,339.11 | 4,979,767,730.03 | ||||||||
| Add:Changesinaccountingpolicy | |||||||||||||||
| Correctionofpriorperioderrors | ||||||||||||
| Others | ||||||||||||
| II.Balanceatthebeginningoftheyear | 403,660,003.00 | 1,935,686,839.31 | 201,830,001.50 | 2,433,650,547.11 | 4,974,827,390.92 | 4,940,339.11 | 4,979,767,730.03 | |||||
| III.Changesfortheyear(decreaseisstatedwith“-”) | 171,040,001.00 | 42,078,576.32 | 134,953,200.00 | 88,954,295.41 | 1,579,229,046.33 | 1,746,348,719.06 | 8,205,268.91 | 1,754,553,987.97 | ||||
| (I)Totalcomprehensiveincome | 1,873,433,343.24 | 1,873,433,343.24 | -890,514.46 | 1,872,542,828.78 | ||||||||
| (II)Shareholders’contributionsandreductionincapital | 6,840,000.00 | 212,194,107.94 | 134,953,200.00 | 84,080,907.94 | 3,958,970.38 | 88,039,878.32 | ||||||
| 1.Capitalcontributionsbyshareholders | 6,960,000.00 | 131,533,200.00 | 134,953,200.00 | 3,540,000.00 | 4,500,000.00 | 8,040,000.00 |
| 2.Capitalcontributedbyotherequityinstrumentsholders | |||||||||||
| 3.Amountofshare-basedpaymentsrecognisedinequity | 80,660,907.94 | 80,660,907.94 | 80,660,907.94 | ||||||||
| 4.Others | -120,000.00 | -120,000.00 | -541,029.62 | -661,029.62 | |||||||
| (III)ProfitDistribution | 88,954,295.41 | -294,204,296.91 | -205,250,001.50 | -778,717.63 | -206,028,719.13 | ||||||
| 1.Transfertosurplusreserves | 88,954,295.41 | -88,954,295.41 | |||||||||
| 2.Transfertogeneralriskreserves | |||||||||||
| 3.Distributionto | -205,250,0 | -205,250, | -778,717. | -206,02 |
| shareholders | 01.50 | 001.50 | 63 | 8,719.13 | |||||
| 4.Others | |||||||||
| (IV)Internalcarry-overofowners’equity | 164,200,001.00 | -170,115,531.62 | -5,915,530.62 | 5,915,530.62 | |||||
| 1.Capitalisationofcapitalreserves | 164,200,001.00 | -164,200,001.00 | |||||||
| 2.Capitalisationofsurplusreserves | |||||||||
| 3.Lossmadeupbysurplusreserves | |||||||||
| 4.Transferofchangesinthedefinedbenefitplantoretainedearnings | |||||||||
| 5.Transferofothercomprehensiveincometoretained |
| earnings | ||||||||||||
| 6.Others | -5,915,530.62 | -5,915,530.62 | 5,915,530.62 | |||||||||
| (V)Specialreserves | ||||||||||||
| 1.Appropriationfortheyear | ||||||||||||
| 2.Utilisationfortheyear | ||||||||||||
| (VI)Others | ||||||||||||
| IV.Balanceatendofyear | 574,700,004.00 | 1,977,765,415.63 | 134,953,200.00 | 290,784,296.91 | 4,012,879,593.44 | 6,721,176,109.98 | 13,145,608.02 | 6,734,321,718.00 |
Legalrepresentative:ZhangJianFinancialcontroller:ZhengHuiAccountingsupervisor:ZhengHui
StatementofChangesinOwner’sEquity,ParentCompany
2023
Unit:Yuan(RMB)
| Items | 2023 | ||||||||||
| Sharecapital | Otherequityinstruments | Capitalreserves | Less:Treasurystock | Othercomprehensiveincome | Specialreserves | SurplusReserves | Retainedearnings | Totalshareholders’equity | |||
| Preferredshares | Perpetualbond | Others | |||||||||
| I.Balanceatendofprioryear | 574,700,004.00 | 2,173,462,800.28 | 134,953,200.00 | 290,784,296.91 | 2,142,503,000.74 | 5,046,496,901.93 | |||||
| Add:Changesinaccountingpolicy | |||||||||||
| Correctionofpriorperioderrors | |||||||||||
| Others | |||||||||||
| II.Balanceatthebeginningoftheyear | 574,700,004.00 | 2,173,462,800.28 | 134,953,200.00 | 290,784,296.91 | 2,142,503,000.74 | 5,046,496,901.93 | |||||
| III.Decrease/increaseofthereportyear(decrease | 287,225,003.00 | 432,645,369. | -216,558,867.24 | 346,551,973.88 | 140,178,206. | 585,179,959.21 | 882,117,697.24 | ||||
| isstatedwith“-”) | 56 | 59 | |||||||
| (I)Totalcomprehensiveincome | 1,774,577,731.31 | 1,774,577,731.31 | |||||||
| (II)Shareholders’contributionsandreductionincapital | -124,999.00 | 432,645,369.56 | 69,120,966.67 | 346,551,973.88 | - | 139,020.00 | 155,228,383.35 | ||
| 1.Capitalcontributionsbyshareholders | 1,001.00 | -8,653.09 | 39,834.69 | 32,182.60 | |||||
| 2.Capitalcontributedbyotherequityinstrumentsholders | 432,654,022.65 | 432,654,022.65 | |||||||
| 3.Amountofpaymentforsharescountedtoshareholders’equity | 70,168,931.98 | 70,168,931.98 | |||||||
| 4.Others | -126,000.00 | -1,087,800.00 | 346,551,973.88 | 139,020.00 | -347,626,753.88 | ||||
| (III)ProfitDistribution | 140,178,206.59 | -1,189,536,7 | -1,049,358,585.5 |
| 92.10 | 1 | ||||||
| 1.Transfertosurplusreserves | 140,178,206.59 | -140,178,206.59 | - | ||||
| 2.Distributionstoshareholders | -1,049,358,585.51 | -1,049,358,585.51 | |||||
| 3.Others | - | ||||||
| (IV)Internalcarry-overofowners’equity | 287,350,002.00 | -287,350,002.00 | |||||
| 1.Capitalisationofcapitalreserves | 287,350,002.00 | -287,350,002.00 | |||||
| 2.Capitalisationofsurplusreserves | |||||||
| 3.Lossmadeupbysurplusreserves | |||||||
| 4.Transferofchangesinthedefinedbenefitplanto |
| retainedearnings | |||||||||
| 5.Transferofothercomprehensiveincometoretainedearnings | |||||||||
| 6.Others | |||||||||
| (V)Specialreserves | |||||||||
| 1.Appropriationfortheyear | |||||||||
| 2.Utilizationfortheyear | |||||||||
| (VI)Others | 1,670,168.09 | 1,670,168.09 | |||||||
| IV.Balanceatendofyear | 861,925,007.00 | 432,645,369.56 | 1,956,903,933.04 | 481,505,173.88 | 430,962,503.50 | 2,727,682,959.95 | 5,928,614,599.17 |
Items
| Items | Year2022 |
| Sharecapital | Otherequityinstruments | Capitalreserves | Less:Treasurystock | Othercomprehensiveincome | Specialreserves | SurplusReserves | Retainedearnings | Totalshareholders’equity | |||
| Preferredshares | Perpetualbond | Others | |||||||||
| I.Balanceatendofprioryear | 403,660,003.00 | 1,910,845,161.11 | 201,830,001.50 | 1,547,164,343.56 | 4,063,499,509.17 | ||||||
| Add:Changesinaccountingpolicy | |||||||||||
| Correctionofpriorperioderrors | |||||||||||
| Others | |||||||||||
| II.Balanceatthebeginningoftheyear | 403,660,003.00 | 1,910,845,161.11 | 201,830,001.50 | 1,547,164,343.56 | 4,063,499,509.17 | ||||||
| III.Decrease/increaseofthereportyear(decreaseisstatedwith“-”) | 171,040,001.00 | 262,617,639.17 | 134,953,200.00 | 88,954,295.41 | 595,338,657.18 | 982,997,392.76 | |||||
| (I)Totalcomprehensiveincome | 889,542,954.09 | 889,542,954.09 | |||||||||
| (II)Shareholders’contributionsandreduction | 6,840,000.00 | 426,817,640. | 134,953,2 | 298,704,44 | |||||||
| incapital | 17 | 00.00 | 0.17 | |||||
| 1.Capitalcontributionsbyshareholders | 6,960,000.00 | 131,533,200.00 | 134,953,200.00 | 3,540,000.00 | ||||
| 2.Capitalcontributedbyotherequityinstrumentsholders | ||||||||
| 3.Amountofpaymentforsharescountedtoshareholders’equity | 80,660,907.94 | 80,660,907.94 | ||||||
| 4.Others | -120,000.00 | 214,623,532.23 | 214,503,532.23 | |||||
| (III)ProfitDistribution | 88,954,295.41 | -294,204,296.91 | -205,250,001.50 | |||||
| 1.Transfertosurplusreserves | 88,954,295.41 | -88,954,295.41 | ||||||
| 2.Distributionstoshareholders | -205,250,001.50 | -205,250,001.50 | ||||||
| 3.Others |
| (IV)Internalcarry-overofowners’equity | 164,200,001.00 | -164,200,001.00 | |
| 1.Capitalisationofcapitalreserves | 164,200,001.00 | -164,200,001.00 | |
| 2.Capitalisationofsurplusreserves | |||
| 3.Lossmadeupbysurplusreserves | |||
| 4.Transferofchangesinthedefinedbenefitplantoretainedearnings | |||
| 5.Transferofothercomprehensiveincometoretainedearnings | |||
| 6.Others | |||
| (V)Specialreserves | |||
| 1.Appropriationfortheyear | |||
| 2.Utilizationfortheyear | |||
| (VI)Others |
| IV.Balanceatendofyear | 574,700,004.00 | 2,173,462,800.28 | 134,953,200.00 | 290,784,296.91 | 2,142,503,000.74 | 5,046,496,901.93 |
Legalrepresentative:ZhangJianFinancialcontroller:ZhengHuiAccountingsupervisor:ZhengHui
III.CompanyProfile
1.AbouttheCompany
√Applicable□NotapplicableAimaTechnologyGroupCo,.LTD.isajointstocklimitedcompanyregisteredinTianjin,People'sRepublicofChina.ItwasestablishedonSeptember27,1999.TheCompanyisheadquarteredat5AimaRoad,JinghaiEconomicDevelopmentZone,Tianjin.TheCompany'sprincipalbusinessincludesdevelopment,manufacturingandsalesofelectricbicycles,electricmopedsandelectricmotorcycles.TheCompany'scontrollingshareholderisMr.ZhangJian,anaturalperson.IV.Basisforpreparationoffinancialstatements
1.PreparationBasisThesefinancialstatementshavebeenpreparedinaccordancewithAccountingStandardsforBusinessEnterprises-BasicStandardandspecificaccountingstandards,implementationguidance,interpretationsandotherrelevantprovisionsissuedsubsequentlybytheMinistryofFinance(the“MOF”)(collectivelyreferredtoas“ASBEs”).Inaddition,thefinancialstatementsalsodiscloserelevantfinancialinformationinaccordancewiththeCompilationRulesforInformationDisclosurebyCompaniesOfferingSecuritiestothePublicNo.15-GeneralProvisionsonFinancialReporting.
2.OperationonGoingConcernBasis
√Applicable□NotapplicableThefinancialstatementsoftheCompanyhavebeenpreparedongoingconcernbasis.Thefinancialstatementshavebeenpreparedunderthehistoricalcostconvention,exceptforcertainfinancialinstruments.Iftheassetsareimpaired,correspondingprovisionsforimpairmentshallbemadeaccordingtorelevantrequirements.V.SignificantaccountingpoliciesandestimatesPresentationonspecificaccountingpoliciesandaccountingestimates
√Applicable□NotapplicableTheCompanyhasformulatedspecificaccountingpoliciesandaccountingestimatesbasedonthepracticalproductionandoperationcharacteristics,whicharemainlyreflectedinthebaddebtsofreceivables,inventoryvaluationmethods,provisionforwrite-downofinventories,depreciationandamortizationofinvestmentproperties,depreciationoffixedassets,amortizationofintangibleassets,amortizationoflong-termprepaidexpenses,recognitionandmeasurementofrevenue,etc.
1.StatementoncomplyingwiththeaccountingstandardforbusinessenterprisesTheCompanydeclaresthatthefinancialstatementspreparedbytheCompanycomply
withrequirementsoftheenterpriseaccountingstandards,trulyandcompletelyreflecttheconcernedinformation,includingtheCompany’sfinancialposition,resultsoftheiroperations,changesinshareholders'equity,cashflow,etc.oftheyearthenended.
2.AccountingperiodTheaccountingyearoftheGroupisacalendaryear,i.e.,from1Januaryto31Decemberofeachyear.
3.BusinessCycle
√Applicable□NotapplicableTheCompanytakes12monthsasabusinesscycle.
4.FunctionalcurrencyforbookkeepingTheCompany’sfunctionalcurrencyisRenminbi(“RMB”).
5.Determinationmethodandselectionbasisofmaterialitycriteria
√Applicable□Notapplicable
| Items | Materialitycriteria |
| Significantconstructioninprogress | Endingbalanceexceeds5‰ofthecompany'stotalassets |
| Significantotherpayablesagedover1year | IndividualotherpayablesgreaterthanRMB100million |
| Significantcashflowsfrominvestingactivities | IndividualcashflowsgreaterthanRMB500million |
6.Theaccountingtreatmentonbusinessconsolidationunderthecommoncontrolandnotunderthecommoncontrol
√Applicable□NotapplicableBusinesscombinationsareclassifiedintobusinesscombinationsinvolvingentitiesundercommoncontrolandbusinesscombinationsnotinvolvingentitiesundercommoncontrol.
(1)BusinesscombinationsinvolvingentitiesundercommoncontrolAbusinesscombinationinvolvingentitiesundercommoncontrolisabusinesscombinationinwhichallofthecombiningentitiesareultimatelycontrolledbythesamepartyorpartiesbothbeforeandafterthecombination,andthecontrolisnottemporary.Theassetsandliabilities(includinggoodwillarisingfromtheultimatecontrollingparty’sacquisitionoftheentitybeingabsorbed)thatareobtainedbytheabsorbingentityinabusinesscombinationinvolvingentitiesundercommoncontrolshallbemeasuredonthebasisoftheircarryingamountsinthefinancialstatementsoftheultimatecontrollingpartyatthecombinationdate.Thedifferencebetweenthecarryingamountofthenetassetsobtainedandthecarryingamountoftheconsiderationpaidforthecombinationortheaggregatefacevalueofsharesissuedasconsiderationshallbeadjustedtocapital
premiumundercapitalreserves.Ifthecapitalpremiumisnotsufficienttoabsorbthedifference,anyexcessshallbeadjustedagainstretainedearnings.
(2)BusinesscombinationsnotinvolvingentitiesundercommoncontrolAbusinesscombinationnotinvolvingentitiesundercommoncontrolisabusinesscombinationinwhichallofthecombiningentitiesarenotultimatelycontrolledbythesamepartyorpartiesbothbeforeandafterthecombination.Theacquirershallmeasuretheacquiree’sidentifiableassets,liabilitiesandcontingentliabilitiesacquiredinthebusinesscombinationattheirfairvaluesontheacquisitiondate.Goodwillisinitiallyrecognisedandmeasuredatthedifferencebetweenthecombinationcostandtheacquiree'sshareofthefairvalueoftheacquiree'sidentifiablenetassetsacquiredinthecombination.Afterinitialrecognition,goodwillismeasuredatcostlessanyaccumulatedimpairmentlosses.IfthecombinationcostislessthananyfairvalueoftheGroup’spreviouslyheldequityinterestintheacquireeislowerthantheGroup’sinterestinthefairvalueoftheacquiree’snetidentifiableassets,theGroupreassessesthemeasurementofthefairvalueoftheacquiree’sidentifiableassets,liabilitiesandcontingentliabilities.Ifafterthatreassessment,thecombinationcostisstilllowerthantheGroup’sinterestinthefairvalueoftheacquiree’snetidentifiableassets,theGrouprecognisestheremainingdifferenceinprofitorloss.
7.Judgmentstandardofcontrolandpreparationmethodofconsolidatedfinancialstatements
√Applicable□NotapplicableThescopeoftheconsolidatedfinancialstatements,whichincludethefinancialstatementsoftheCompanyandallofitssubsidiaries,isdeterminedonthebasisofcontrol.AsubsidiaryisanentitythatiscontrolledbytheCompany(suchasanenterprise,adeemedseparateentity,orastructuredentitycontrolledbytheCompany).Aninvestorcancontrolaninvesteeifandonlyiftheinvestorhasthreeelements:theinvestorhaspowerovertheinvestee;variablereturnsduetoparticipationintheinvestee'sactivities;abilitytouseitspowerovertheinvesteetoinfluencetheamountofitsreturn.WheretheaccountingpoliciesoraccountingperiodsadoptedbyasubsidiaryareinconsistentwiththoseoftheCompany,necessaryadjustmentsshallbemadetothefinancialstatementsofthesubsidiaryinaccordancewiththeaccountingpoliciesandaccountingperiodsoftheCompanywhenpreparingtheconsolidatedfinancialstatements.Allintra-groupassetsandliabilities,equity,income,expensesandcashflowsrelatingtotransactionsbetweenmembersoftheGroupareeliminatedinfullonconsolidation.WherethelossforthecurrentperiodattributabletoMinorityshareholders’equityofasubsidiaryexceedstheMinorityshareholders’equityoftheopeningbalanceofequityofthesubsidiary,theexcessshallstillbeallocatedagainsttheMinorityshareholders’equity.Forsubsidiariesacquiredthroughbusinesscombinationsnotinvolvingentitiesundercommoncontrol,thefinancialperformanceandcashflowsoftheacquireeshallbe
consolidatedfromthedateonwhichtheGroupobtainscontrol,andcontinuetobeconsolidateduntilthedatesuchcontrolceases.Whilepreparingtheconsolidatedfinancialstatements,theGroupshalladjustthesubsidiary’sfinancialstatements,onthebasisofthefairvaluesoftheidentifiableassets,liabilitiesandcontingentliabilitiesrecognisedontheacquisitiondate.Forsubsidiariesacquiredthroughbusinesscombinationsinvolvingentitiesundercommoncontrol,thefinancialperformanceandcashflowsoftheentitybeingabsorbedshallbeconsolidatedfromthebeginningoftheperiodinwhichthecombinationoccurs.Whilepreparingthecomparativefinancialstatements,adjustmentsaremadetorelateditemsinthefinancialstatementsforthepriorperiodasifthereportingentityafterthecombinationhasbeeninexistencesincethedatetheultimatecontrollingpartyfirstobtainedthecontrol.TheGroupreassesseswhetherornotitcontrolsaninvesteeifanychangeinfactsandcircumstancesindicatesthattherearechangestooneormoreofthethreeelementsofcontrol.AchangeintheMinorityshareholders’equity,withoutalossofcontrol,isaccountedforasanequitytransaction.
8.Classificationofjointarrangementandjointoperation
□Applicable√Notapplicable
9.CashandcashequivalentsCashcomprisestheGroup’scashonhandandbankdepositsthatcanbereadilywithdrawnondemand.Cashequivalentsareshort-term,highlyliquidinvestmentsthatarereadilyconvertibleintoknownamountsofcash,andaresubjecttoaninsignificantriskofchangesinvalue.
10.Foreigncurrencytransactionsandforeigncurrencytranslation
√Applicable□NotapplicableTheGrouptranslatesforeigncurrencytransactionsintoitsfunctionalcurrency.Foreigncurrencytransactionsareinitiallyrecorded,oninitialrecognitioninthefunctionalcurrencyusingaverageexchangeratesfortheperiodinwhichthetransactionsoccur.However,thecapitalinvestedbyinvestorsinforeigncurrenciesistranslatedatthespotexchangerateonthetransactiondate.Monetaryitemsdenominatedinforeigncurrenciesaretranslatedatthespotexchangeratesrulingatthebalancesheetdate.Differencesarisingonsettlementortranslationofmonetaryitemsarerecognisedinprofitorloss,withtheexceptionofthoserelatingtoforeigncurrencyborrowingsspecificallyfortheconstructionandacquisitionofqualifyingassets,whicharecapitalisedinaccordancewiththeguidanceforcapitalisationofborrowingcosts.Non-monetaryitemsthataremeasuredintermsofhistoricalcostinaforeigncurrencyaretranslatedusingtheexchangeratesoftheinitialrecognition,andtheamountdenominatedinthefunctionalcurrencyisnotchanged.Non-monetaryitemsmeasuredatfairvalueinaforeigncurrencyaretranslated
usingtheexchangeratesatthedatewhenthefairvaluewasmeasured.Theresultingexchangedifferencesarerecognisedinprofitorlossorothercomprehensiveincomedependingonthenatureofthenon-monetaryitems.Forforeignoperations,theGrouptranslatestheirfunctionalcurrencyamountsintoRMBwhenpreparingthefinancialstatementsasfollows:asatthebalancesheetdate,theassetsandliabilitiesaretranslatedusingthespotexchangerateatthebalancesheetdate,andequityitemsotherthan“unappropriatedprofit”aretranslatedatthespotexchangeratesatthedatesoftransactions;revenueandexpenseitemsinprofitorlossaretranslatedusingtheaverageexchangeratesfortheperiodduringwhichthetransactionsoccur(unlessthisisinappropriateduetoexchangeratefluctuations,inwhichcasethespotexchangeratesprevailingonthedatesofthetransactionsareused).Theresultingexchangedifferencesarerecognisedinothercomprehensiveincome.Ondisposalofaforeignoperation,thecomponentofothercomprehensiveincomerelatingtothatparticularforeignoperationisrecognisedinprofitorloss.Ifthedisposalonlyinvolvesaportionofaparticularforeignoperation,thecomponentofothercomprehensiveincomerelatingtothatparticularforeignoperationisrecognisedinprofitorlossonapro-ratabasis.Foreigncurrencycashflowsandthecashflowsofforeignsubsidiariesaretranslatedusingtheaverageexchangeratesfortheperiodduringwhichthecashflowsoccur(unlessthisisinappropriateduetoexchangeratefluctuations,inwhichcasethespotexchangeratesprevailingonthedatesofcashflowsareused).Theeffectofexchangeratechangesoncashisseparatelypresentedasanadjustmentiteminthestatementofcashflows.
11.Financialinstruments
√Applicable?NotapplicableAfinancialinstrumentisanycontractthatgivesrisetoafinancialassetofoneentityandafinancialliabilityorequityinstrumentofanotherentity.
(1)RecognitionandderecognitionTheGrouprecognisesafinancialassetorafinancialliabilitywhenitbecomesapartytothecontractualprovisionsofafinancialinstrument.Afinancialasset(or,whereapplicable,apartofafinancialassetorpartofagroupofsimilarfinancialassets)isprimarilyderecognised(i.e.,removedfromtheGroup’sconsolidatedbalancesheet)when:
①therightstoreceivecashflowsfromthefinancialassethaveexpired;
②theGrouphastransferreditsrightstoreceivecashflowsfromthefinancialasset,orhasassumedanobligationtopaythereceivedcashflowsinfullwithoutmaterialdelaytoathirdpartyundera“pass-through”arrangement;andeitherhastransferredsubstantiallyalltherisksandrewardsofthefinancialasset,orhasneithertransferrednorretained
substantiallyalltherisksandrewardsoftheasset,buthastransferredcontrolofthefinancialasset.Afinancialliabilityisderecognisedwhentheobligationundertheliabilityisdischargedorcancelled,orexpires.Whenanexistingfinancialliabilityisreplacedbyanotherfromthesamelenderonsubstantiallydifferentterms,orthetermsofanexistingliabilityaresubstantiallymodified,suchanexchangeormodificationistreatedasaderecognitionoftheoriginalliabilityandarecognitionofanewliability,andthedifferencebetweentherespectivecarryingamountsisrecognisedinprofitorloss.Regularwaypurchasesandsalesoffinancialassetsarerecognisedandderecognisedusingtradedateaccounting.Regularwaypurchasesorsalesarepurchasesorsalesoffinancialassetsthatrequiredeliverywithintheperiodgenerallyestablishedbyregulationorconventioninthemarketplaceinaccordancewithacontract.ThetradedateisthedatethattheGroupcommittedtopurchaseorsellafinancialasset.
(2)ClassificationandmeasurementoffinancialassetsTheclassificationoffinancialassetsatinitialrecognitiondependsonthefinancialasset’scontractualcashflowcharacteristicsandtheGroup’sbusinessmodelformanagingthem:
financialassetsatamortisedcost,financialassetsatfairvaluethroughothercomprehensiveincomeandfinancialassetsatfairvaluethroughprofitorloss.Financialassetsaremeasuredatfairvalueoninitialrecognition,butaccountsreceivableornotesreceivablearisingfromthesaleofgoodsorrenderingofservicesthatdonotcontainsignificantfinancingcomponentsorforwhichtheGrouphasappliedthepracticalexpedientofnotadjustingtheeffectofasignificantfinancingcomponentduewithinoneyear,areinitiallymeasuredatthetransactionprice.Forfinancialassetsatfairvaluethroughprofitorloss,relevanttransactioncostsaredirectlyrecognisedinprofitorloss,andtransactioncostsrelatingtootherfinancialassetsareincludedintheinitialrecognitionamounts.Thesubsequentmeasurementoffinancialassetsdependsontheirclassificationasfollows:
①DebtinvestmentsmeasuredatamortisedcostTheGroupmeasuresfinancialassetsatamortisedcostifbothofthefollowingconditionsaremet:thefinancialassetisheldwithinabusinessmodelwiththeobjectivetoholdfinancialassetsinordertocollectcontractualcashflows;thecontractualtermsofthefinancialassetgiveriseonspecifieddatestocashflowsthataresolelypaymentsofprincipalandinterestontheprincipalamountoutstanding.Financialassetsatamortisedcostaresubsequentlymeasuredusingtheeffectiveinterestmethodandaresubjecttoimpairment.Gainsandlossesarerecognisedinprofitorlosswhentheassetisderecognised,modifiedorimpaired.Suchfinancialassetsmainlyincludecurrencyfunds,notesreceivable,accountsreceivableandotherreceivables.
②DebtinvestmentsatfairvaluethroughothercomprehensiveincomeTheGroupmeasuresdebtinvestmentsatfairvaluethroughothercomprehensiveincomeifbothofthefollowingconditionsaremet:thefinancialassetisheldwithinabusinessmodelwiththeobjectiveofbothholdingtocollectcontractualcashflowsandselling;thecontractualtermsofthefinancialassetgiveriseonspecifieddatestocashflowsthataresolelypaymentsofprincipalandinterestontheprincipalamountoutstanding.Interestincomeisrecognisedusingtheeffectiveinterestmethod.Theinterestincome,impairmentlossesandforeignexchangerevaluationarerecognisedinprofitorloss.Theremainingfairvaluechangesarerecognisedinothercomprehensiveincome.Uponderecognition,thecumulativefairvaluechangerecognisedinothercomprehensiveincomeisrecycledtoprofitorloss.③FinancialassetsatfairvaluethroughprofitorlossThefinancialassetsotherthantheabovefinancialassetsmeasuredatamortisedcostandfinancialassetsatfairvaluethroughothercomprehensiveincomeareclassifiedasfinancialassetsatfairvaluethroughprofitorloss.Suchfinancialassetsaresubsequentlymeasuredatfairvaluewithnetchangesinfairvaluerecognisedinprofitorloss.
(3)ClassificationandmeasurementoffinancialliabilitiesThefinancialliabilitiesoftheCompanyare,oninitialrecognition,classifiedas:financialliabilitiesmeasuredatamortisedcost.Transactioncostsrelatingtofinancialliabilitiesmeasuredatamortisedcostareincludedintheinitialrecognitionamounts.Thesubsequentmeasurementoffinancialliabilitiesdependsontheirclassification:
FinancialliabilitiesmeasuredatamortisedcostSuchfinancialliabilitiesaresubsequentlymeasuredatamortisedcostusingtheeffectiveinterestmethod.
(4)ImpairmentoffinancialinstrumentsBasedontheexpectedcreditlosses(“ECLs”),theGrouprecognisesanallowanceforECLsforthefinancialassetsmeasuredatamortisedcost,debtinvestmentsatfairvaluethroughothercomprehensiveincome.Foraccountsreceivableandcontractassetsthatdonotcontainasignificantfinancingcomponent,theGroupappliesthesimplifiedapproachtorecognisealossallowancebasedonlifetimeECLs.Exceptforfinancialassetswhichapplythesimplifiedapproachasmentionedabove,otherfinancialassets,theGroupassesseswhetherthecreditriskhasincreasedsignificantlysinceinitialrecognitionateachbalancesheetdate.Ifthecreditriskhasnotincreasedsignificantlysinceinitialrecognition(stage1),thelossallowanceismeasuredatanamountequalto12-monthECLsbytheGroupandtheinterestincomeiscalculated
accordingtothecarryingamountandtheeffectiveinterestrate;ifthecreditriskhasincreasedsignificantlysinceinitialrecognitionbutarenotcredit-impaired(stage2),thelossallowanceismeasuredatanamountequaltolifetimeECLsbytheGroupandtheinterestincomeiscalculatedaccordingtothecarryingamountandtheeffectiveinterestrate;ifsuchfinancialassetsarecredit-impairedafterinitialrecognition(stage3),thelossallowanceismeasuredatanamountequaltolifetimeECLsbytheGroupandtheinterestincomeiscalculatedaccordingtotheamortisedcostandtheeffectiveinterestrate.Forfinancialinstrumentswithlowercreditriskonthebalancesheetdate,theCompanyassumesthatitscreditriskhasnotincreasedsignificantlysincetheinitialrecognition.TheGroupassessestheexpectedcreditlossesoffinancialinstrumentsbasedonindividualitemsandportfolios.TheGrouphasconsideredthecreditriskcharacteristicsofdifferentcustomers,basedoncommonriskcharacteristicsandassessedtheexpectedcreditlossesofreceivablesbasedontheagecombination.TheGroupconsidersreasonableandsupportableinformationaboutpastevents,currentconditionsandforecastsoffutureeconomicconditionswhenassessingexpectedcreditlosses.WhentheGroupnolongerreasonablyexpectstocollectallorpartofthecontractualcashflowsofthefinancialasset,theGroupdirectlywritesdownthecarryingamountofthefinancialasset.
(5)OffsettingoffinancialinstrumentsFinancialassetsandfinancialliabilitiesareoffsetandthenetamountisreportedinthebalancesheetifthereisacurrentlyenforceablelegalrighttooffsettherecognisedamounts;andthereisanintentiontosettleonanetbasis,ortorealizetheassetsandsettletheliabilitiessimultaneously.
(6)ConvertiblebondsWhentheGroupissuesconvertiblebonds,itdetermineswhethertheycontainbothliabilityandequitycomponentsaccordingtotheterms.Iftheissuedconvertiblebondscontainbothliabilitiesandequitycomponents,theliabilitiesandequitycomponentsshallbeseparatedandtreatedseparatelyatinitialrecognition.Atthetimeofseparation,thefairvalueoftheliabilitycomponentisfirstmeasuredandusedasitsinitialrecognitionamount,andthentheinitialrecognitionamountoftheequitycomponentisdeterminedaccordingtotheamountafterdeductingtheinitialrecognitionamountoftheliabilitycomponentfromtheissuepriceoftheconvertiblebondasawhole.Transactioncostsareallocatedbetweentheliabilitycomponentandtheequitycomponentattheirrespectiverelativefairvalues.Theliabilitycomponentisdisclosedasaliabilityandsubsequentlymeasuredatamortisedcostuntilcancelled,convertedorredeemed.Theequitycomponentisdisclosedasequityandisnotsubsequentlymeasured.Convertiblebondsissuedonlyincludeliabilitycomponentsandembeddedderivatives,thatis,iftheshareconversionrighthasthecharacteristicsofembeddedderivatives,itwillbeseparatedfromtheconvertiblebondsasawhole,treatedseparatelyasaderivativefinancialinstrument,andinitiallyrecognizedatitsfairvalue.Theexcessoftheissuepriceoverinitialrecognitionas
aderivativefinancialinstrumentisrecognisedasadebtinstrument.Transactioncostsareallocatedonthebasisoftheissuepriceofdebtinstrumentsandderivativefinancialinstrumentsoninitialrecognition.Transactioncostsrelatedtodebtinstrumentsarerecognisedasliabilitiesandtransactioncostsrelatedtoderivativefinancialinstrumentsarerecognisedinprofitorlossfortheperiod.
(7)TransferofFinancialAssetsAfinancialassetisderecognisedwhentheGrouphastransferredsubstantiallyalltherisksandrewardsoftheassettothetransferee.AfinancialassetisnotderecognisedwhentheGroupretainssubstantiallyalltherisksandrewardsofthefinancialasset.WhentheGrouphasneithertransferrednorretainedsubstantiallyalltherisksandrewardsofthefinancialasset,iteither(i)derecognisesthefinancialassetandrecognisestheassetsandliabilitiescreatedinthetransferwhenithasnotretainedcontroloftheasset;or(ii)continuestorecognisethetransferredassettotheextentoftheGroup'scontinuinginvolvement,inwhichcase,theGroupalsorecognisesanassociatedliability.Continuinginvolvementthattakestheformofaguaranteeoverthetransferredfinancialassetismeasuredattheloweroftheoriginalcarryingamountofthefinancialassetandtheguaranteeamount.TheguaranteeamountisthemaximumamountofconsiderationthattheGroupcouldberequiredtorepay.
12.Notesreceivable
□Applicable√Notapplicable
13.Accountsreceivable
√Applicable□NotapplicableMethodfordeterminationandaccountingtreatmentoftheexpectedcreditlossofaccountsreceivables
√Applicable□NotapplicableFordetails,pleasereferto“11.FinancialInstruments"and"V.39.OtherImportantAccountingPoliciesandAccountingEstimates"of"V.SignificantAccountingPoliciesandAccountingEstimates"in"Section10.FinancialReport".Combinationcategoryanddeterminationbasisofprovisionforbaddebtsbasedoncreditriskcharacteristics
□Applicable√NotapplicableAgingcalculationmethodbasedonthecombinationofcreditriskcharacteristicsrecognizedbyaging
□Applicable√NotapplicableJudgmentcriteriafordeterminingindividualprovisionforbaddebts
□Applicable√Notapplicable
14.Receivablesfinancing
√Applicable□NotapplicableMethodfordeterminationandaccountingtreatmentoftheexpectedcreditlossofreceivablesfinancing
√Applicable□NotapplicableFordetails,pleasereferto“11.FinancialInstruments"and"V.39.OtherImportantAccountingPoliciesandAccountingEstimates"of"V.SignificantAccountingPoliciesandAccountingEstimates"in"Section10.FinancialReport".Combinationcategoryanddeterminationbasisofprovisionforbaddebtsbasedoncreditriskcharacteristics
□Applicable√NotapplicableAgingcalculationmethodbasedonthecombinationofcreditriskcharacteristicsrecognizedbyaging
□Applicable√NotapplicableJudgmentcriteriafordeterminingindividualprovisionforbaddebts
□Applicable√Notapplicable
15.Otherreceivables
√Applicable□NotapplicableMethodfordeterminationandaccountingtreatmentoftheexpectedcreditlossofotherreceivables
√Applicable□NotapplicableFordetails,pleasereferto“11.FinancialInstruments"and"V.39.OtherImportantAccountingPoliciesandAccountingEstimates"of"V.SignificantAccountingPoliciesandAccountingEstimates"in"Section10.FinancialReport".Combinationcategoryanddeterminationbasisofprovisionforbaddebtsbasedoncreditriskcharacteristics
□Applicable√NotapplicableAgingcalculationmethodbasedonthecombinationofcreditriskcharacteristicsrecognizedbyaging
□Applicable√NotapplicableJudgmentcriteriafordeterminingindividualprovisionforbaddebts
□Applicable√Notapplicable
16.Inventories
√Applicable□NotapplicableInventorycategory,deliveryvaluationmethod,inventorysystem,amortizationmethodoflowvalueconsumablesandpackagingmaterials.
√Applicable□NotapplicableTheCompany’sinventoriesconsistofrawmaterials,work-in-processandfinishedgoods.Inventoriesareinitiallycarriedatcost.Costofinventoriescomprisesallcostsofpurchase,costsofconversionandothercosts.Forinventoriesdelivered,theactualcostsaredeterminedontheweightedaveragebasis.Turnovermaterialsincludelowvalueconsumablesandpackingmaterials,whichareontheimmediatewrite-offbasis.TheCompanyadoptstheperpetualinventorysystem.Recognitioncriteriaandaccrualmethodofwrite-down
√Applicable□NotapplicableAtthebalancesheetdate,inventoriesarestatedatthelowerofcostandnetrealizablevalue.Theinventoriesarewrittendownbelowcosttonetrealizablevalueandthewrite-downisrecognisedinprofitorlossifthecostishigherthanthenetrealizablevalue.Netrealizablevalueistheestimatedsellingpriceintheordinarycourseofbusinesslesstheestimatedcostsofcompletionandtheestimatedcostsnecessarytomakethesaleandrelevanttaxes.Combinationcategoryanddeterminationbasisforprovisionforwrite-downbasedoncombination,anddeterminationbasisfornetrealizablevalueofdifferentcategoriesofinventories
□Applicable√NotapplicableThecalculationmethodanddeterminationbasisofthenetrealizablevalueofeachstockagecombinationforrecognizingthenetrealizablevalueofinventorybasedonthestockage
□Applicable√Notapplicable
17.Contractassets
□Applicable√Notapplicable
18.Non-currentassetsheldforsaleordisposalgroups
□Applicable√NotapplicableRecognitioncriteriaandaccountingtreatmentmethodsfornon-currentassetsheldforsaleordisposalgroups
□Applicable√Notapplicable
Recognitioncriteriaanddisclosuremethodfordiscontinuedoperations
□Applicable√Notapplicable
19.Long-termequityinvestments
√Applicable□NotapplicableLong-termequityinvestmentsincludeequityinvestmentsinsubsidiaries,jointventuresandassociates.Along-termequityinvestmentisinitiallymeasuredatitsinitialinvestmentcostonacquisition.Theinitialcostofalong-termequityinvestmentacquiredthroughabusinesscombinationinvolvingenterprisesundercommoncontrolistheCompany’sshareofthecarryingamountofthesubsidiary’sequityintheconsolidatedfinancialstatementsoftheultimatecontrollingpartyatthecombinationdate.Thedifferencebetweentheinitialinvestmentcostandthecarryingamountsoftheconsiderationgivenisadjustedtothecapitalpremiuminthecapitalreserve,withanyexcessadjustedtoretainedearnings.Foralong-termequityinvestmentacquiredthroughabusinesscombinationnotundercommoncontrol,thecombinationcostshallberecognisedastheinitialinvestmentcost(ifabusinesscombinationnotundercommoncontrolisachievedstepbystepthroughmultipletransactions,thesumofthebookvalueoftheequityinvestmentheldbytheacquireebeforetheacquisitiondateandthenewlyincreasedinvestmentcostontheacquisitiondateshallbetakenastheinitialinvestmentcost).Foralong-termequityinvestmentotherthanalong-termequityinvestmentformedbyabusinesscombination,theinitialinvestmentcostshallbedeterminedaccordingtothefollowingmethods:foralong-termequityinvestmentobtainedbypayingcash,theactualpurchasepricepaidandtheexpenses,taxesandothernecessaryexpensesdirectlyrelatedtotheacquisitionofthelong-termequityinvestmentshallberegardedastheinitialinvestmentcost;Forthoseobtainedbyissuingequitysecurities,theinitialinvestmentcostshallbethefairvalueoftheequitysecuritiesissued.Foralong-termequityinvestmentobtainedthroughabusinesscombinationnotinvolvingenterprisesundercommoncontrol,theinitialcostcomprisestheaggregateofthefairvalueofassetstransferred,liabilitiesincurredorassumed,andequitysecuritiesissuedbytheCompany,inexchangeforcontroloftheacquiree.Foralong-termequityinvestmentobtainedthroughabusinesscombinationnotinvolvingenterprisesundercommoncontrolandachievedinstages,theinitialcostcomprisesthecarryingvalueofthepreviously-heldequityinvestmentintheacquireeimmediatelybeforetheacquisitiondate,andtheadditionalinvestmentcostattheacquisitiondate.Forlong-termequityinvestmentsobtainedbymeansotherthanbusinesscombination,theinitialinvestmentcostisdeterminedaccordingtothefollowingmethod:
forthoseobtainedbypayingcash,theactualpurchasepricepaidandtheexpenses,taxesandothernecessarycostsdirectlyrelatedtotheacquisitionoflong-termequityinvestmentsshallbeused.Expensesaretakenastheinitialinvestmentcost.Forthoseobtainedbyissuingequitysecurities,thefairvalueoftheissuedequitysecuritiesistakenastheinitialinvestmentcost.Foralong-termequityinvestmentwheretheCompanycanexercisecontroloverthe
investee,thelong-terminvestmentisaccountedforusingthecostmethodintheCompany’sindividualfinancialstatements.ControlisachievedwhentheGroupisexposed,orhasrights,tovariablereturnsfromitsinvolvementwiththeinvesteeandhastheabilitytoaffectthosereturnsthroughitspowerovertheinvestee.Underthecostmethod,thelong-termequityinvestmentismeasuredatitsinitialinvestmentcost.Whenadditionalinvestmentismadeortheinvestmentisrecouped,thecostoflong-termequityinvestmentisadjustedaccordingly.Cashdividendsorprofitdistributionsdeclaredbytheinvesteearerecognisedasinvestmentincomeinprofitorloss.TheequitymethodisadoptedwhentheGrouphasjointcontrol,orexercisessignificantinfluenceovertheinvestee.Jointcontrolisthecontractuallyagreedsharingofcontrolofanarrangement,whichexistsonlywhendecisionsabouttherelevantactivitiesrequiretheunanimousconsentofthepartiessharingcontrol.Significantinfluenceisthepowertoparticipateinthefinancialandoperatingpolicydecisionsoftheinvestee,butisnotcontrolorjointcontrolwithotherpartiesoverthosepolicies.Undertheequitymethod,wheretheinitialinvestmentcostofalong-termequityinvestmentexceedstheGroup’sinterestinthefairvalueoftheinvestee’sidentifiablenetassetsattheacquisitiondate,noadjustmentismadetotheinitialinvestmentcost.WheretheinitialinvestmentcostislessthantheGroup’sinterestinthefairvaluesoftheinvestee’sidentifiablenetassetsattheacquisitiondate,thedifferenceischargedtoprofitorloss,andthecostofthelong-termequityinvestmentisadjustedaccordingly.Undertheequitymethod,afterithasacquiredalong-termequityinvestment,theGrouprecognisesitsshareoftheinvestee’sprofitorloss,aswellasitsshareoftheinvestee’sothercomprehensiveincome,asinvestmentincomeorlossandothercomprehensiveincome,andadjuststhecarryingamountoftheinvestmentaccordingly.TheGrouprecognisesitsshareoftheinvestee’sprofitorlossaftermakingappropriateadjustmentstotheinvestee’sprofitorlossbasedonthefairvalueoftheinvestee’sidentifiableassetsattheacquisitiondate,usingtheGroup’saccountingpoliciesandperiods.UnrealisedprofitsandlossesfromtransactionswithitsjointventuresandassociatesareeliminatedtotheextentoftheGroup’sinvestmentsintheassociatesorjointventures(exceptforassetsthatconstituteabusiness)(However,anylossarisingfromsuchtransactionswhichareattributabletoanimpairmentlossshallberecognisedatitsentirety).ThecarryingamountoftheinvestmentisreducedbasedontheGroup’sshareofanyprofitdistributionsorcashdividendsdeclaredbytheinvestee.TheGroup’sshareoflossesoftheinvesteeisrecognisedtotheextentthatthecarryingamountoftheinvestmenttogetherwithanylong-termintereststhatinsubstanceformpartofitsnetinvestmentintheinvesteeisreducedtozero,exceptthattheGrouphastheobligationstoassumefurtherlosses.TheGroup’sshareoftheinvestee’sequitychanges,otherthanthosearisingfromtheinvestee’sprofitorloss,othercomprehensiveincomeorprofitdistribution,isrecognisedintheGroup’sequity,andthecarryingamountofthelong-termequityinvestmentisadjustedaccordingly.
20.Investmentproperties
(1)Ifthecostmeasurementmodelisused：
DepreciationoramortizationmethodAninvestmentpropertyismeasuredinitiallyatcost.Iftheeconomicbenefitsrelatingtoaninvestmentpropertywillprobablyflowinandthecostcanbereliablymeasured,subsequentcostsincurredforthepropertyareincludedinthecostoftheinvestmentproperty.Otherwise,subsequentcostsarerecognisedinprofitorlossasincurred.TheGroupusesthecostmodelforthesubsequentmeasurementofitsinvestmentproperties.Forthedepreciationmethodofhousesandbuildingsininvestmentrealestate,pleaserefertotherelevantcontentof“Section10V.21FixedAssets”,andfortheamortizationmethodoflanduserightsininvestmentrealestate,pleasereferto“Section10V.26IntangibleAssets".
21.Fixedasset
(1)Recognitionoffixedassets
√Applicable□NotapplicableAfixedassetisrecognisedonlywhentheeconomicbenefitsassociatedwiththeassetwillprobablyflowintotheGroupandthecostoftheassetcanbemeasuredreliably.Subsequentexpendituresincurredforafixedassetthatmeetstherecognitioncriteriashallbeincludedinthecostofthefixedasset,andthecarryingamountofthecomponentofthefixedassetthatisreplacedshallbederecognised.Otherwise,suchexpendituresarerecognisedinprofitorlossasincurred.Thefixedassetsareinitiallymeasuredatthecost.Thecostofapurchasedfixedassetcomprisesthepurchaseprice,relevanttaxesandanydirectlyattributableexpenditureforbringingtheassettoworkingconditionforitsintendeduse.
(2)Depreciationmethods
√Applicable□Notapplicable
| Categories | Depreciationmethod | Usefullife(year) | Residualrate | Annualdepreciationrate |
| Buildings | Straight-linemethod | 20 | 5% | 4.75% |
| Machineryandequipment | Straight-linemethod | 10 | 5% | 9.50% |
| Officeequipment | Straight-linemethod | 5 | 5% | 19.00% |
| Vehicles | Straight-linemethod | 4 | 5% | 23.75% |
| Electronicequipment | Straight-linemethod | 3 | 5% | 31.67% |
| Productiontools | Straight-linemethod | 3 | 5% | 31.67% |
TheGroupreviewstheusefullifeandestimatednetresidualvalueofafixedassetandthedepreciationmethodappliedatleastateachyearend,andmakeadjustmentsifnecessary.
22.Constructioninprogress
√Applicable□NotapplicableThecostofconstructioninprogressisdeterminedaccordingtotheactualexpendituresincurredfortheconstruction,includingallnecessaryconstructionexpendituresincurredduringtheconstructionperiodandotherrelevantexpenditures.Whentheassetisreadyforitsintendeduse,thecriteriaforanitemofconstructioninprogressistransferredtofixedassets、intangibleassetsandlong-termdeferredexpensesareasfollows:
| Items | Criteriafortransfertofixedassets |
| Buildings | Theearlierofactualstartofuse/completionofacceptance |
| Machineryandequipment | Theearlierofactualstartofuse/completionofinstallationandacceptance |
23.Borrowingcosts
√Applicable□NotapplicableTheborrowingcoststhataredirectlyattributabletotheacquisition,constructionorproductionofaqualifyingassetarecapitalised.Theamountsofotherborrowingcostsincurredarerecognisedasanexpenseintheperiodinwhichtheyareincurred.Borrowingcostsarecapitalisedwhencapitalexpenditureandborrowingcostshavebeenincurredandtheacquisition,constructionorproductionactivitiesnecessarytobringtheassettoitsintendeduseorsalehavecommenced.Capitalisationofborrowingcostsceaseswhenthequalifyingassetbeingacquired,constructedorproducedgetsreadyforitsintendeduseorsale.Anyborrowingcostssubsequentlyincurredarerecognisedinprofitorloss.Duringthecapitalisationperiod,theamountofinteresteligibleforcapitalisationforeachaccountingperiodshallbedeterminedasfollows:wherefundsareborrowedspecificallyforthepurposeofobtainingaqualifyingasset,theamountofinteresteligibleforcapitalisationistheactualinterestcostsincurredonthatborrowingfortheperiodlessanybankinterestearnedfromdepositingtheborrowedfundsbeforebeingusedontheassetoranyinvestmentincomeonthetemporaryinvestmentofthosefunds;orwherefundsareborrowedgenerallyforthepurposeofobtainingaqualifyingasset,theamountofinteresteligibleforcapitalisationisdeterminedbyapplyingaweightedaverageinterestrateonthe
generalborrowingstotheweightedaverageoftheexcessofthecumulativeexpendituresontheassetovertheexpendituresontheassetfundedbythespecificborrowings.Capitalisationofborrowingcostsissuspendedduringperiodsinwhichtheacquisition,constructionorproductionofaqualifyingassetissuspendedabnormallybyactivitiesotherthanthosenecessarytogettheassetreadyforitsintendeduseorsale,whenthesuspensionisforacontinuousperiodofmorethan3months.Borrowingcostsincurredduringtheseperiodsarerecognisedasanexpenseinprofitorlossuntiltheacquisition,constructionorproductionisresumed.
24.Biologicalassets
□Applicable√Notapplicable
25.Oilandgasassets
□Applicable√Notapplicable
26.Intangibleassets
(1)Usefullife,determinationbasis,estimation,amortizationmethodorreviewprocedures
√Applicable□NotapplicableIntangibleassetsareamortisedonastraight-linebasisovertheirusefullivesasfollows:
| Items | UsefulLife | Determinationbasis |
| Landuserights | 50years | Theshorteroftheterm/expectedusefullifeofthelanduseright |
| Software | 5-10years | Theshorteroftheservicelife/expectedusefullifeofsoftware |
| Trademarks | 5-10years | Theshorterofvalidityperiod/expectedusefullifeoftrademarks |
(2)Collectionscopeandrelevantaccountingtreatmentmethodsofresearchanddevelopmentexpenditure
√Applicable□NotapplicableTheGroupclassifiestheexpendituresonaninternalresearchanddevelopmentprojectintoexpenditureontheresearchphaseandexpenditureonthedevelopmentphase.Expenditureontheresearchphaseisrecognisedinprofitorlossasincurred.ExpenditureonthedevelopmentphaseiscapitalisedonlywhentheGroupcandemonstrateallofthefollowing:(i)thetechnicalfeasibilityofcompletingtheintangibleassetsothatitwillbeavailableforuseorsale;(ii)theintentiontocompletetheintangibleassetanduseorsellit;(iii)howtheintangibleassetwillgenerateprobablefutureeconomicbenefits(amongotherthings,theGroupcandemonstratetheexistenceofamarketfortheoutputofthe
intangibleassetortheintangibleassetitselfor,ifitistobeusedinternally,theusefulnessoftheintangibleasset);(iv)theavailabilityofadequatetechnical,financialandotherresourcestocompletethedevelopmentandtheabilitytouseorselltheintangibleasset;and(v)theabilitytomeasurereliablytheexpenditureattributabletotheintangibleassetduringthedevelopmentphase.Expenditureonthedevelopmentphasewhichdoesnotmeettheseabovecriteriaisrecognisedinprofitorlosswhenincurred.
27.Impairmentoflong-termassets
√Applicable□NotapplicableTheGroupdeterminestheimpairmentofassetsotherthanimpairmentofinventories,deferredincometaxandfinancialassets,usingthefollowingmethods:theGroupassessesatthebalancesheetdatewhetherthereisanyindicationthatanassetmaybeimpaired.Ifanyindicationexiststhatanassetmaybeimpaired,theGroupestimatestherecoverableamountoftheassetandperformsimpairmenttesting.Goodwillarisingfromabusinesscombinationandanintangibleassetwithanindefiniteusefullifearetestedforimpairmentatleastateachyearend,irrespectiveofwhetherthereisanyindicationthattheassetmaybeimpaired.Intangibleassetsthathavenotbeenreadyfortheirintendedusearetestedforimpairmenteachyear.Therecoverableamountofanassetisthehigherofitsfairvaluelesscoststosellandthepresentvalueofthefuturecashflowsexpectedtobederivedfromtheasset.TheGroupestimatestherecoverableamountonanindividualbasisunlessitisnotpossibletoestimatetherecoverableamountoftheindividualasset,inwhichcasetherecoverableamountisdeterminedfortheassetgrouptowhichtheassetbelongs.Identificationofanassetgroupisbasedonwhethermajorcashinflowsgeneratedbytheassetgrouparelargelyindependentofthecashinflowsfromotherassetsorassetgroups.Whentherecoverableamountofanassetorassetgroupislessthanitscarryingamount,thecarryingamountisreducedtotherecoverableamountbytheGroup.Thereductioninthecarryingamountistreatedasanimpairmentlossandrecognisedinprofitorloss.Aprovisionforimpairmentlossoftheassetisrecognisedaccordingly.Oncetheaboveimpairmentlossisrecognised,itcannotbereversedinsubsequentaccountingperiods.
28.Long-termprepaidexpenses
√Applicable□NotapplicableLong-termexpensestobeapportionedareamortizedusingthestraight-linemethod,andtheamortizationperiodisasfollows:
| Items | Amortizationterm |
| Buildingdecoration | 36months |
| LeaseholdImprovement | 36months |
| Others | 24to60months |
29.Contractliabilities
√Applicable□NotapplicableTheCompanypresentscontractliabilitiesinthebalancesheetbasedontherelationshipbetweentheperformanceofthecontractobligationsandthepaymentbythecustomer.Acontractualliabilityisanobligationtotransfergoodsorservicetoacustomerforconsiderationreceivedorreceivablefromthecustomer,suchasmoneythatabusinesshasreceivedbeforetransferringthepromisedgoodsorservice.
30.EmployeebenefitsEmployeebenefitsrefertoallformsofconsiderationorcompensationotherthanshare-basedpaymentsgivenbytheGroupinexchangeforservicesrenderedbyemployeesorforterminationofemployment.Employeebenefitsincludeshort-termemployeebenefits,post-employmentbenefits,terminationbenefitsandotherlong-termemployeebenefits.
(1)Accountingtreatmentofshort-termsalaries
√Applicable□NotapplicableTheCompanyrecognizestheactualshort-termremunerationasaliabilityduringtheaccountingperiodwhenemployeesprovideservicestotheGroup,andstatedintheprofitorlossorthecostofrelatedassets.
(2)Accountingtreatmentofpost-employmentbenefits
√Applicable□NotapplicableTheemployeesoftheGroupparticipateinapensionschemeandunemploymentinsurancemanagedbythelocalgovernment,thecorrespondingexpensesshallbeincludedinthecostofrelatedassetsorprofitorloss.
(3)Dismissionbenefits
□Applicable√Notapplicable
(4)Otherlongtermemployees'benefits
□Applicable√Notapplicable
31.Provisions
√Applicable□NotapplicableAnobligationrelatedtoacontingencyshallberecognisedbytheGroupasaprovisionwhentheobligationisapresentobligationoftheGroup,anditisprobablethatanoutflowofeconomicbenefitsfromtheGroupwillberequiredtosettletheobligation.Additionally,areliableestimatecanbemadeoftheamountoftheobligation.Aprovisionisinitiallymeasuredatthebestestimateoftheexpenditurerequiredtosettletherelatedpresentobligation,takingintoaccountfactorspertainingtoacontingencysuch
astherisks,uncertaintiesandtimevalueofmoneyasawhole.
32.Share-basedpayment
√Applicable□NotapplicableAshare-basedpaymentisclassifiedaseitheranequity-settledshare-basedpaymentoracash-settledshare-basedpayment.Anequity-settledshare-basedpaymentisatransactioninwhichtheGroupreceivesservicesandusessharesorotherequityinstrumentsasconsiderationforsettlement.Anequity-settledshare-basedpaymentinexchangeforservicesreceivedfromemployeesismeasuredatthefairvalueoftheequityinstrumentsgrantedtotheemployees.Ifsuchequity-settledshare-basedpaymentcouldvestimmediately,relatedcostsorexpensesatanamountequaltothefairvalueonthegrantdatearerecognised,withacorrespondingincreaseincapitalreserves;ifsuchequity-settledshare-basedpaymentcouldnotvestuntilthecompletionofservicesforavestingperiod,oruntiltheachievementofaspecifiedperformancecondition,theGroupateachbalancesheetdateduringthevestingperiodrecognisestheservicesreceivedforthecurrentperiodasrelatedcostsandexpenses,withacorrespondingincreaseincapitalreserves,atanamountequaltothefairvalueoftheequityinstrumentsatthegrantdate,basedonthebestestimateofthenumberofequityinstrumentsexpectedtovest.Thefairvalueisdeterminedusingthemarketprice,pleasereferto"Section10XV".Wherethetermsofanequity-settledshare-basedawardaremodified,asaminimumanexpenseisrecognisedasifthetermshadnotbeenmodified.Inaddition,anexpenseisrecognisedforanymodificationthatincreasesthetotalfairvalueoftheshare-basedpayments,orisotherwisebeneficialtotheemployeeasmeasuredatthedateofmodification.Whereanequity-settledshare-basedawardiscancelled,itistreatedasifithadvestedonthedateofcancellation,andanyexpensenotyetrecognisedfortheawardisrecognisedimmediately.Thisincludesanyawardwherenon-vestingconditionswithinthecontrolofeithertheGrouportheemployeearenotmet.However,ifanewawardissubstitutedforthecancelledaward,andisdesignatedasareplacementonthedatethatitisgranted,thecancelledandnewawardsaretreatedasiftheywereamodificationoftheoriginalaward.
33.Otherfinancialinstruments,suchaspreferredshares,perpetualbonds,etc.
□Applicable√Notapplicable
34.Revenue
(1)Accountingpoliciesusedinrevenuerecognitionandmeasurementbytypesofbusiness
√Applicable□NotapplicableRevenuefromcontractswithcustomersisrecognisedwhentheGrouphasfulfilleditsperformanceobligationsinthecontracts,thatis,whenthecustomerobtainscontrolof
relevantgoodsorservices.Controlofrelevantgoodsorservicesreferstotheabilitytodirecttheuseofthegoods,ortheprovisionoftheservices,andobtainsubstantiallyalloftheremainingbenefitsfromthegoodsorservices.①ContractsforthesaleofgoodsWhentheGroupdeliversgoodssuchastwo-wheeledelectricvehiclestocustomers,revenueisgenerallyrecognizedatapointoftimebasedonthefollowingindicators,whichinclude:thetimeofgoodsleavethefactoryfornon-exportsales,thetimeofgoodsareloadedonboardforexportsales,apresentrighttopaymentforgoods,thetransferofsignificantrisksandrewardsofownershipofgoods,thetransferoflegaltitletogoods,thetransferofphysicalpossessionofgoods,thecustomer'sacceptanceofgoods,thetimeofcustomersign-offiftheGroupisresponsiblefortransportation.TheamountofconsiderationtowhichtheGroupexpectstobeentitledasaresultofthetransferofgoodstoacustomerisdeterminedasthetransactionpriceinaccordancewiththetermsofthecontractandincombinationwithpastbusinesspractices.SomecontractsoftheGroupstipulatethatwhencustomerspurchasemorethanacertainquantityofgoods,theycanenjoyacertaindiscount,whichdirectlyoffsetstheamountpayablebycustomerswhentheypurchasegoodsinthefuture.TheGroupmakesthebestestimateofthediscountbasedontheexpectedvalueorthemostlikelyamount,andthetransactionpriceafterestimatingthediscountisincludedinthetransactionpricetotheextentthatthetransactionpriceafterestimatingthediscountdoesnotexceedtheamountthatitishighlyprobablethatasignificantreversalintheamountofcumulativerevenuerecognisedwillnotoccurwhentheuncertaintyassociatedwiththevariableconsiderationissubsequentlyresolved,andreestimatesitateachbalancesheetdate.Forsaleswitharightofreturn,theGrouprecognisestherevenueintheamountofconsiderationtowhichtheGroupexpectstobeentitledinexchangefortransferringcontrolofthegoodstothecustomer,andrecognisestheamountexpectedtoberefundedasaresultofthesalesreturnasarefundliability.Atthesametime,anassetrecognisedforanentity’srighttorecovergoodsfromacustomeronsettlingarefundliabilityismeasuredbyreferencetothecarryingamountofthegoodslessanyexpectedcoststorecoverthegoods(includingpotentialdecreasesinthevalueofthereturnedgoods),thatis,right-of-returnassets,andrecognisedcostofsalesbasedonthecarryingamountofthetransferredgoodsatthetimeoftransferofthegoodslessthenetamountoftheassetcostabove.Ateachbalancesheetdate,theGroupre-estimatesthefuturesalesreturnandremeasurestheassetsandliabilitiesabove.TheGroupprovidesawarrantyinconnectionwiththesaleofagoodinaccordancewiththecontractandtherelevantlawsandregulations,etc.Forthepurposeofanassurance-typewarrantythatprovidesthecustomertheassurancethatthegoodcomplieswithagreed-uponspecifications,pleasereferto“Section10V.31”.②Contractsfortherenderingofservices
TheGroupguaranteesitsperformanceobligationsbyprovidingafter-salesservicetocustomers.BecausethecustomersimultaneouslyreceivesandconsumesthebenefitsprovidedbytheGroup'sperformanceastheGroupperforms,therevenueisrecognisedovertimeonlyiftheGroupcanreasonablymeasureitsprogresstowardsthecompletesatisfactionoftheperformanceobligation.TheCompanyusesthestraight-linemethodanddeterminestheprogressoftheservicesrenderedonthebasisofthetimeelapsed.Iftheprogresstowardsthecompletesatisfactionoftheperformanceobligationcannotbereasonablymeasured,buttheGroupexpectstorecoverthecostsincurredinsatisfyingtheperformanceobligation,therevenueisrecognisedonlytotheextentofthecostsincurreduntilsuchtimethattheGroupcanreasonablymeasuretheprogresstowardsthecompletesatisfactionoftheperformanceobligation.TheamountofconsiderationtowhichtheGroupexpectstobeentitledasaresultofthetransferofservicestoacustomerisdeterminedasthetransactionpriceinaccordancewiththetermsofthecontractandincombinationwithpastbusinesspractices.TheGroupaccountsfortheconsiderationpayabletoacustomerasareductionofthetransactionprice,andrecognisesthereductionofrevenuewhen(oras)thelateroftherecognitionofrelevantrevenueandthepayment(orpromisedpayment)oftheconsiderationtoacustomer,unlessthepaymenttothecustomerisinexchangeforadistinctgoodorservicethatthecustomertransferstotheGroup.
(2)Differentrevenuerecognitionandmeasurementmethodscausedbytheadoptionofdifferentbusinessmodelsforsimilarbusinesses
□Applicable√Notapplicable
35.Contractcostassets
√Applicable□NotapplicableTheGroup’scontractcostassetsincludethecoststoobtainandfulfilacontractandareclassifiedasinventories,othercurrentassetsandothernon-currentassetsbyliquidity.TheGrouprecognisesasanassettheincrementalcostsofobtainingacontractwithacustomeriftheGroupexpectstorecoverthosecosts,unlesstheamortisationperiodoftheassetisoneyearorless.Otherthanthecostswhicharecapitalisedasinventories,fixedassetsandintangibleassets,etc.,costsincurredtofulfilacontractwithacustomerarecapitalisedasanassetifallofthefollowingcriteriaaremet:
(1)thecostsrelatedirectlytoacontractortoananticipatedcontract,includingdirectlabor,directmaterials,overheads(orsimilarexpenses),coststhatareexplicitlychargeabletothecustomerandothercoststhatareincurredonlybecauseanentityenteredintothecontract;
(2)thecostsgenerateorenhanceresourcesoftheGroupthatwillbeusedinsatisfyingperformanceobligationsinthefuture;and
(3)thecostsareexpectedtoberecovered.
Thecontractcostassetisamortisedandchargedtoprofitorlossonasystematicbasisthatisconsistentwiththepatternoftherevenuetowhichtheassetrelatedisrecognised.TheGroupaccruesprovisionsforimpairmentandrecognisesimpairmentlossestotheextentthatthecarryingamountofacontractcostassetexceeds:
(1)theremainingamountofconsiderationthattheentityexpectstoreceiveinexchangeforthegoodsorservicestowhichtheassetrelates;less
(2)thecoststhatareexpectedtobeincurredtotransferthoserelatedgoodsorservices.
36.Governmentgrants
√Applicable□NotapplicableGovernmentgrantsarerecognisedwhenallattachingconditionswillbecompliedwith,andthegrantswillbereceived.Ifagovernmentgrantisintheformofatransferofamonetaryasset,itismeasuredattheamountreceivedorreceivable.Asset-relatedgovernmentgrantsarerecognisedwhenthegovernmentdocumentdesignatesthatthegovernmentgrantsareusedforconstructingorforminglong-termassets.Ifthegovernmentdocumentisinexplicit,theCompanyshouldmakeajudgementbasedonthebasicconditionstoobtainthegovernmentgrants,andrecognisesthemasasset-relatedgovernmentgrantsiftheconditionsaretoformlong-termassetsthroughconstructionorothermethod.Otherwise,thegovernmentgrantsshouldbeincome-related.TheCompany'sgovernmentgrantsaresubjecttothegrossmethod.Agovernmentsubsidyrelatedtoincome,whichisusedtocompensatetherelatedcostsorlossesinthefutureperiod,isrecognisedasdeferredincome,andisrecordedintotheprofitorlossortooffsettherelevantcostsduringtheperiodwhentherelatedcostsandexpensesorlossesarerecognised;costsorlossesincurredincompensationisdirectlyrecordedintotheprofitorlossoroffsettherelevantcosts.Agovernmentgrantrelatingtoanassetshallbeoffsetagainstthecarryingamountsofrelevantassets,orrecognisedasdeferredincomeandamortisedinprofitorlossovertheusefullifeoftherelatedassetbyannualinstalmentsinasystematicandrationalway(however,agovernmentgrantmeasuredatanominalamountisrecogniseddirectlyinprofitorloss).Wheretheassetsaresold,transferred,retiredordamagedbeforetheendoftheirusefullives,therestoftheremainingdeferredincomeisreleasedtoprofitorlossfortheperiodinwhichtherelevantassetsaredisposedof.
37.Deferredincometaxasset/deferredincometaxliability
√Applicable□NotapplicableFortemporarydifferencesatthebalancesheetdatebetweenthetaxbasesofassetsandliabilitiesandtheircarryingamounts,andtemporarydifferencesbetweenthecarryingamountsandthetaxbasesofitems,thetaxbasesofwhichcanbedeterminedaccordingtorelatedtaxlawsfortaxpurposes,butwhichhavenotbeenrecognisedasassetsand
liabilities,deferredtaxesareprovidedusingthebalancesheetliabilitymethod.Deferredtaxliabilitiesarerecognisedforalltaxabletemporarydifferences,except:
(1)whenthetaxabletemporarydifferencearisesfromtheinitialrecognitionofgoodwill,oranassetorliabilityinanindividualtransactionthatisnotabusinesscombinationand,atthetimeoftransaction,affectsneitheraccountingprofitnortaxableprofitorloss,andtheinitialrecognitionofassetsandliabilitiesdoesnotresultinequaltaxabletemporarydifferencesanddeductibletemporarydifferences,andtheinitialrecognitionofassetsandliabilitiesdoesnotresultinequaltaxabletemporarydifferencesanddeductibletemporarydifferences;and
(2)inrespectoftaxabletemporarydifferencesassociatedwithinvestmentsinsubsidiaries,associatesandjointventures,whenthetimingofthereversalofthetemporarydifferencescanbecontrolledanditisprobablethatthetemporarydifferenceswillnotbereversedintheforeseeablefuture.Deferredtaxassetsarerecognisedforalldeductibletemporarydifferences,andthecarryforwardofunusedtaxlossesandanyunusedtaxcredits.Deferredtaxassetsarerecognisedtotheextentthatitisprobablethattaxableprofitwillbeavailableagainstwhichthedeductibletemporarydifferences,thecarryforwardofunusedtaxlossesandunusedtaxcreditscanbeutilized,except:
(1)whenthedeductibletemporarydifferencearisesfromtheinitialrecognitionofanassetorliabilityinatransactionthatisnotabusinesscombinationand,atthetimeofthetransaction,affectsneithertheaccountingprofitnortaxableprofitorloss;and
(2)inrespectofthedeductibletemporarydifferencesassociatedwithinvestmentsinsubsidiaries,associatesandjointventures,deferredtaxassetsareonlyrecognisedtotheextentthatitisprobablethatthetemporarydifferenceswillbereversedintheforeseeablefutureandtaxableprofitwillbeavailableagainstwhichthetemporarydifferencescanbeutilizedinthefuture.Atthebalancesheetdate,deferredtaxassetsandliabilitiesaremeasuredatthetaxratesthatareexpectedtoapplytotheperiodwhentheassetisrealisedortheliabilityissettled,inaccordancewiththerequirementsoftaxlaws.ThemeasurementofdeferredtaxassetsanddeferredtaxliabilitiesreflectsthetaxconsequencesthatwouldfollowfromthemannerinwhichtheGroupexpects,atthebalancesheetdate,torecovertheassetsorsettletheliabilities.Thecarryingamountofdeferredtaxassetsisreviewedatthebalancesheetdateandreducedtotheextentthatitisnolongerprobablethatsufficienttaxableprofitwillbeavailableinfutureperiodstoallowthedeferredtaxassetstobeutilized.Unrecogniseddeferredtaxassetsarereassessedatthebalancesheetdateandarerecognisedtotheextentthatithasbecomeprobablethatsufficienttaxableprofitwillbeavailabletoallowallorpartofthedeferredtaxassettoberecovered.DeferredtaxassetsanddeferredtaxliabilitiesareoffsetifandonlyiftheGrouphasalegallyenforceablerighttosetoffcurrenttaxassetsandcurrenttaxliabilities,andthe
deferredtaxassetsanddeferredtaxliabilitiesrelatetoincometaxesleviedbythesametaxationauthorityoneitherthesametaxableentityordifferenttaxableentitieswhichintendeithertosettlecurrenttaxliabilitiesandassetsonanetbasis,ortorealizetheassetsandsettletheliabilitiessimultaneously,ineachfutureperiodinwhichsignificantamountsofdeferredtaxliabilitiesorassetsareexpectedtobesettledorrecovered.
38.Leases
√Applicable□NotapplicableJudgementbasisandaccountingmethodforlesseestosimplifyshort-termleasesandleasesoflow-valueassets
√Applicable□NotapplicableTheGroupconsidersaleasethat,atthecommencementdateofthelease,hasaleasetermof12monthsorless,anddoesnotcontainanypurchaseoptionasashort-termlease;andaleaseforwhichtheindividualunderlyingassetwithalowervaluewhenitisnewasaleaseoflow-valueassets.TheGroupdoesnotrecognizeright-of-useassetsandleaseliabilitiesforshort-termleasesandlow-valueassetleases.TheGrouprecognisesleasepaymentsonshort-termleasesandleasesoflow-valueassetsinthecostsoftherelatedassetorprofitorlossonastraight-linebasisAtinceptionofacontract,theGroupassesseswhetherthecontractis,orcontains,alease.Acontractis,orcontains,aleaseifthecontractconveystherighttocontroltheuseofanidentifiedassetforaperiodoftimeinexchangeforconsideration.AslesseeTheGrouprecognisesleaseliabilitiesandright-of-useassets,exceptforshort-termleasesandleasesoflow-valueassets.Right-of-useassetsAtthecommencementdateoftheleaseterm,theGrouprecognisesitsrighttousetheleasedassetduringtheleasetermasaright-of-useasset,initiallymeasuredatcost.Thecostofright-of-useassetsincludes:theinitialmeasurementamountofleaseliabilities;leasepaymentsmadeonorbeforethecommencementdateoftheleaseterm(netofamountsrelatingtoleaseincentivesreceived);initialdirectexpensesincurredbythelessee;thecoststhatthelesseeexpectstoincurtodismantleandremovetheleasedasset,restorethesitewheretheleasedassetislocated,orrestoretheleasedassettothestateagreedintheleaseterms.IftheGroupremeasuresleaseliabilitiesduetochangesinleasepayments,thecarryingamountofright-of-useassetsisadjustedaccordingly.TheGroupsubsequentlydepreciatesright-of-useassetsusingthestraight-linemethod.Ifitcanbereasonablydeterminedthattheownershipoftheleasedassetwillbeobtainedattheexpirationoftheleaseterm,theGroupshallmakedepreciationfortheremainingservicelifeoftheleasedasset.Ifitisimpossibletoreasonablydeterminethatownershipoftheleasedassetcanbeobtainedattheendoftheleaseterm,theGroupshallmakedepreciationduringtheshorteroftheleasetermandtheremainingusefullifeofthe
leasedasset.LeaseliabilitiesAtthecommencementdateoftheleaseterm,theGrouprecognisesthepresentvalueoftheleasepaymentsthathavenotyetbeenpaidasaleaseliability,exceptforshort-termleasesandleasesoflow-valueassets.Leasepaymentsincludefixedandsubstantiallyfixedpaymentsafterdeductingleaseincentives,variableleasepaymentsthatdependonanindexorratio,amountsexpectedtobepayablebasedonresidualvalueoftheguarantee,andalsotheexercisepriceofthepurchaseoptionortheamountpayabletoexercisetheterminationoption,providedthattheGroupisreasonablycertainthattheexerciseoftheoptionortheleasetermreflectstheexerciseoftheterminationoptionbytheGroup.Incalculatingthepresentvalueofleasepayments,theGroupusestheinterestrateimplicitintheleaseasthediscountrate;Iftheinterestrateimplicitintheleasecannotbedetermined,thelessee'sincrementalborrowingrateshallbeusedasthediscountrate.TheGroupcalculatestheinterestexpenseoftheleaseliabilityforeachperiodoftheleasetermatafixedperiodicinterestrateandincludesitinprofitorlossforthecurrentperiod,unlessotherwisespecifiedasbeingincludedinthecostofrelatedassets.Variableleasepaymentsthatarenotincludedinthemeasurementofleaseliabilitiesarerecognisedinprofitorlossfortheperiodinwhichtheyareincurred,unlessotherwisespecifiedasbeingincludedinthecostoftherelevantasset.Afterthecommencementdateoftheleaseterm,theGroupincreasesthecarryingamountoftheleaseliabilityuponrecognitionofinterestanddecreasesthecarryingamountoftheleaseliabilityuponpaymentofleasepayments.TheGroupremeasuresleaseliabilitiesatthepresentvalueofthechangedleasepaymentswhenthereisachangeintheamountofsubstantiallyfixedpayments,achangeintheamountexpectedtobepayableintheresidualvalueoftheguarantee,achangeintheindexorrateusedtodeterminetheleasepayments,achangeintheassessmentoractualexerciseofthepurchaseoption,renewaloptionorterminationoption.Classificationcriteriaandaccountingmethodforleasesaslessors
√Applicable□NotapplicableAleaseisclassifiedasafinanceleaseifittransferssubstantiallyalltherisksandrewardsincidentaltoownershipofanunderlyingasset,exceptthataleaseisclassifiedasanoperatingleaseattheinceptiondate.AsthelessorofoperatingleaseRentalincomeunderanoperatingleaseisrecognisedonastraight-linebasisovertheleaseterm,throughprofitorloss.Variableleasepaymentsthatarenotincludedinthemeasurementofleasereceivablesarechargedtoprofitorlossasincurred.Initialdirectcostsarecapitalisedandrecognisedovertheleasetermonthesamebasisasrentalincome,throughprofitorloss.
39.OtherImportantAccountingPolicyandAccountingEstimates
√Applicable□Notapplicable
1.SharerepurchaseTheconsiderationandtransactioncostspaidfortherepurchaseofitsownequityinstrumentsreduceshareholders'equity.Exceptforshare-basedpayment,theissuance(includingrefinancing),repurchase,saleorcancellationofownequityinstrumentsaretreatedaschangesinequity.
2.FairvaluemeasurementTheGroupmeasuresreceivablesfinancingatfairvalueateachbalancesheetdate.Fairvaluereferstothepricethatmarketparticipantscanreceivefromsellinganassetorpaytotransferaliabilityinanorderlytransactiononthemeasurementdate.Forassetsandliabilitiesmeasuredordisclosedatfairvalueinthefinancialstatements,theleveloffairvalueshallbedeterminedaccordingtothelowestlevelinputvaluethatisimportantforthefairvaluemeasurementasawhole:Level1inputsvalue,theunadjustedquotationintheactivemarketofthesameassetsorliabilitiesthatcanbeobtainedonthemeasurementdate;Level2inputsvalue,inputsotherthanLevel1inputsthataredirectlyorindirectlyobservablefortherelevantassetorliability;Level3inputsvalue,unobservableinputsforrelatedassetsorliabilities.Ateachbalancesheetdate,theGroupreassessestheassetsandliabilitiesrecognisedinthefinancialstatementsthataremeasuredatfairvalueonanongoingbasistodeterminewhetherthereisatransitionbetweenfairvaluemeasurementlevels.
3.Thepreparationofthefinancialstatementsrequiresmanagementtomakejudgements,estimatesandassumptionsthataffectthereportedamountsofrevenue,expenses,assetsandliabilities,andtheiraccompanyingdisclosures,andthedisclosureofcontingentliabilitiesatthebalancesheetdate.Uncertaintyabouttheseassumptionsandestimatescouldresultinoutcomesthatcouldrequireamaterialadjustmenttothecarryingamountsoftheassetsorliabilitiesaffectedinthefuture.
(1)JudgmentsInapplyingtheGroup'saccountingpolicies,managementhasmadethefollowingjudgementsthathaveasignificanteffectontheamountsrecognisedinthefinancialstatements:
1Classificationofinvestmentpropertiesandowner-occupiedproperties
TheGroupdetermineswhetherthepropertyheldmeetsthedefinitionofinvestmentpropertyandestablishesrelevantstandardsinmakingjudgments.TheGroupclassifiespropertyheldforrentalorcapitalappreciation,orboth,asinvestmentproperty.Therefore,theGroupconsiderswhetherthemannerinwhichthepropertygeneratescashflowsislargelyindependentofotherassetsheldbytheGroup.Somepropertiesarepartlyusedtoearnrentorcapitalappreciation,andtheremainderisusedtoproducegoods,provide
servicesormanageoperations.Iftheportionusedtoearnrentorcapitalappreciationcanbesoldorleasedseparately,theGroupaccountsforthatportionseparately.Ifnot,thepropertyisclassifiedasaninvestmentpropertyonlyifthepartusedfortheproductionofgoods,theprovisionofservicesortheoperationandmanagementisnotsignificant.TheGroupmakesaseparatejudgmentonanindividualpropertybasiswhendeterminingwhethertheancillaryservicesaresignificantenoughtomakethepropertyineligibleforrecognitionasaninvestmentproperty.
(2)EstimationuncertaintyThekeyassumptionsconcerningthefutureandotherkeysourcesofestimationuncertaintyatthebalancesheetdate,thathaveasignificantriskofcausingamaterialadjustmenttothecarryingamountsofassetsandliabilitieswithinthefutureaccountingperiods,aredescribedbelow.①ImpairmentoffinancialinstrumentsCommencingfromJanuary1,2019,theCompanyhasadoptedtheexpectedcreditlossmodeltoassesstheimpairmentoffinancialinstruments.TheGroupisrequiredtoperformsignificantjudgementandestimationandtakeintoaccountallreasonableandsupportableinformation,includingforward-lookinginformation.Whenmakingsuchjudgementsandestimates,theGroupinferstheexpectedchangesinthedebtor'screditriskbasedonhistoricalrepaymentdatacombinedwitheconomicpolicies,macroeconomicindicators,industryrisksandotherfactors.Thedifferentestimatesmayimpacttheimpairmentassessment,andtheprovisionforimpairmentmayalsonotberepresentativeoftheactualimpairmentlossinthefuture.②Impairmentofnon-currentassetsotherthanfinancialassets(otherthangoodwill)TheGroupassesseswhetherthereareanyindicationsofimpairmentforallnon-currentassetsotherthanfinancialassetsatthebalancesheetdate.Intangibleassetswithindefiniteusefullivesaretestedforimpairmentannuallyandatothertimeswhensuchanindicationexists.Othernon-currentassetsotherthanfinancialassetsaretestedforimpairmentwhenthereareindicationsthatthecarryingamountsmaynotberecoverable.Animpairmentexistswhenthecarryingamountofanassetorassetgroupexceedsitsrecoverableamount,whichisthehigherofitsfairvaluelesscostsofdisposalandthepresentvalueofthefuturecashflowsexpectedtobederivedfromit.Thecalculationofthefairvaluelesscostsofdisposalbasedonavailabledatafrombindingsalestransactionsinanarm’slengthtransactionofsimilarassetsorobservablemarketpriceslessincrementalcostsfordisposingoftheassets.Whenthecalculationsofthepresentvalueofthefuturecashflowsexpectedtobederivedfromanassetorassetgroupareundertaken,managementmustestimatetheexpectedfuturecashflowsfromtheassetorassetgroupandchooseasuitablediscountrateinordertocalculatethepresentvalueofthosecashflows.
③ProvisionofsalesrebatesandrewardsTheGroupappliesthesalesrebateandincentivepolicytothedealers.Accordingtotherelevantstipulationsinthedistributionagreement,withreferencetothecompletionoftheagreedassessmentindicatorsbythedealers,salesrebatesandincentivesareestimatedandaccruedattheendofeachyear.
40.Changesinsignificantaccountingpoliciesandaccountingestimates
(1)Changeinaccountingpolicies
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Contentsandreasonsforchangesinaccountingpolicies | Nameofreportingitemssignificantlyaffected | Amountaffected |
| InterpretationNo.16ofAccountingStandardsforBusinessEnterprisesissuedin2022stipulatesthattheprovisionsonexemptionfrominitialrecognitionofdeferredincometaxshallnotapplytoindividualtransactionsthatarenotbusinesscombinations,donotaffectaccountingprofitsortaxableincome(ordeductiblelosses)atthetimeoftransactions,andtheinitiallyrecognizedassetsandliabilitiesleadtoequaltaxabletemporarydifferencesanddeductibletemporarydifferences.Witheffectfrom1January2023,theGroupchangesthetaxabletemporarydifferencesanddeductibletemporarydifferencesarisingfromtheinitialrecognitionofassetsandliabilitiestothecorrespondingdeferredtaxliabilitiesanddeferredtaxassetsforleasetransactionsinitiallyrecognizedasleaseliabilitiesandincludedinright-of-useassetsatthecommencementdateoftheleaseterm.Inaccordancewiththetransitionrequirements,theGrouphasadjustedtheabovetransactionsthatoccurredbetweenthebeginningoftheearliestperiodinwhichtheinterpretationwasfirstappliedtothepresentationofthefinancialstatementsandthedateofthechangeinaccountingpolicy. | Deferredtaxassetsanddeferredtaxliabilities | - |
OthernotesNone
(2)ChangeofSignificantAccountingEstimates
□Applicable√Notapplicable
(3)First-timeimplementationofnewaccountingstandardsorinterpretationsofstandards,etc.from2023involvesadjustmentstothefinancialstatementsasofthebeginningoftheyearoffirst-timeimplementation.
□Applicable√Notapplicable
41.Others
□Applicable√NotapplicableVI.Taxes
1.TypesofmajortaxesandtaxratesTypesofmajortaxesandtaxrates
√Applicable□Notapplicable
| Typesoftaxes | Taxbasis | Taxrates |
| Value-addedtax | Differencebetweensalesamountandoutputtaxcalculatedatapplicabletaxrateafterdeductinginputtaxallowedtobededucted | 6%,9%,13% |
| Urbanmaintenanceandconstructiontax | Itispaidbasedonthevalue-addedtaxactuallypaid | 7% |
| Corporateincometax | Basedontheamountofincometaxable | 25%,22%,20%,16.5%,15% |
| EducationSurcharge | Itispaidbasedonthevalue-addedtaxactuallypaid | 3% |
| LocaleducationSurcharge | Itispaidbasedonthevalue-addedtaxactuallypaid | 2% |
Incasethereexisttaxpayerssubjecttodifferentcorporateincometaxrates,disclosetheinformation.
√Applicable□Notapplicable
| Taxpayers | Incometaxrate(%) |
| AimaTechnologyGroupCo.,Ltd. | 25 |
| TianjinAimaLianxiangTechnologyCo.,Ltd. | 25 |
| TianjinAimaShengsituoTechnologyCo.,Ltd. | 25 |
| AimaElectricDriveSystemsCo.,Ltd. | 25 |
| AimaGrowthVentureCapital(Ningbo)Co.,Ltd. | 25 |
| ZhejiangAiskaTechnologyCo.,Ltd. | 25 |
| ZhejiangAimaVehicleTechnologyCo.,Ltd. | 25 |
| JiangsuAimaVehicleTechnologyCo.,Ltd. | 25 |
| AimaTechnology(Taizhou)Co.,Ltd. | 25 |
| AimaTechnology(Zhejiang)Co.,Ltd. | 25 |
| TaizhouAimaVehicleManufactureCo.,Ltd. | 25 |
| LishuiAimaVehicleTechnologyCo.,Ltd. | 25 |
| TianjinAimaSportsGoodsCo.,Ltd. | 25 |
| TianjinAimaElectromechanicalTechnologyCo.,Ltd. | 25 |
| YangjiangXiaomaIntelligentTechnologyCo.,Ltd. | 20 |
| TianjinSuiwanwanCultureCommunicationCo.,Ltd. | 20 |
| XiaopaElectricTechnology（Shanghai）Co.,Ltd. | 20 |
| TianjinTianliElectricBicycleCo.,Ltd. | 20 |
| ChongqingXiaomaNetworkTechnologyCo.,Ltd. | 20 |
| TianjinXiaomaIntelligentTechnologyCo.,Ltd. | 20 |
| WanningXiaomaIntelligentTechnologyCo.,Ltd. | 20 |
| GuangxiXiaomaIntelligentTechnologyCo.,Ltd. | 20 |
| ChongqingXiaomaIntelligentTechnologyCo.,Ltd. | 20 |
| AimaTECHNOLOGYSINGAPOREPTE.LTD., | 17 |
| GelingNewEnergyTechnology(Shandong)Co.,Ltd. | 15 |
| TianjinAimaVehicleTechnologyCo.,Ltd. | 15 |
| GuangdongAimaVehicleTechnologyCo.,Ltd. | 15 |
| GuangxiAimaVehicleCo.,Ltd. | 15 |
| HenanAimaVehicleCo.,Ltd. | 15 |
| TianjinAimaSharedTechnologyServicesCo.,Ltd. | 15 |
| AimaTechnology(Chongqing)Co.,Ltd. | 15 |
| ChongqingAimaVehicleTechnologyCo.,Ltd. | 15 |
| ChongqingAimaVehicleServiceTechnologyCo.,Ltd. | 15 |
| ChongqingAimaElectromechanicalTechnologyCo.,Ltd. | 15 |
| SuperUniverse(Chongqing)VehicleIndustryTechnologyCo.,Ltd. | 15 |
| ChongqingAimaZhilianLogisticsCo.,Ltd. | 15 |
| SuotengTechnologyHongKongCo.,Ltd. | 16.5 |
| POWELLDDTECHNOLOGYCOMPANYLIMITED | 20 |
| PTAimaELECTRICVEHICLESINDONESIA | 22 |
2.TaxPreferences
√Applicable□NotapplicableIn2023,TianjinSuiwanwanCulturalCommunicationCo.,Ltd.,XiaopaElectricTechnology(Shanghai)Co.,Ltd.,ChongqingXiaomaIntelligentTechnologyCo.,Ltd.,TianjinTianliElectricBicycleCo.,Ltd.,ChongqingXiaomaNetworkTechnologyCo.,Ltd.,WanningXiaomaIntelligentTechnologyCo.,Ltd.,YangjiangXiaomaIntelligentTechnologyCo.,Ltd,GuangxiXiaomaIntelligentTechnologyCo.,Ltd.andTianjinXiaomaIntelligentTechnologyCo.,Ltd.enjoyedpreferentialtaxesforsmalllow-profitenterprises.In
accordancewiththeEnterpriseIncomeTaxLawofthePeople’sRepublicofChinaandtheregulationsfortheimplementation,andtheMinistryofFinanceandtheStateAdministrationofTaxationonfurtherImplementingtheInclusiveTaxDeductionandExemptionPoliciesforMicroandSmallEnterprises(CAISHUI[2022]No.13),fromJanuary1,2022toDecember31,2024,theannualtaxableincomeofasmalllow-profitenterprisethatisnotlessthanRMB1millionnormorethanRMB3millionshallbeincludedinitstaxableincomeatthereducedrateof25%,withtheapplicableenterpriseincometaxrateof20%;InaccordancewiththeAnnouncementoftheStateAdministrationofTaxationontheImplementationofPreferentialIncomeTaxPoliciesofSmallandLow-profitEnterprisesandIndividualIndustrialandCommercialHouseholds(StateAdministrationofTaxationAnnouncementNo.6[2023])andtheannualtaxableincomethatisnotmorethanRMB1million,fromJanuary1,2023toDecember31,2024,shallbeincludedinitstaxableincomeatthereducedrateof25%,withtheapplicableenterpriseincometaxrateof20%.AimaTechnology(Chongqing)Co.,Ltd.,ChongqingAimaVehicleTechnologyCo.,Ltd.,ChongqingAimaVehicleServiceTechnologyCo.,Ltd.,ChongqingAimaElectromechanicalTechnologyCo.,Ltd.,SuperUniverse(Chongqing)VehicleIndustryTechnologyCo.,Ltd.andChongqingAimaZhilianLogisticsCo.,Ltd.belongtotheencouragedindustrialcompaniesoftheWesternDevelopment,andcanenjoythetaxpreferenceof15%corporateincometaxfrom2021to2030.TianjinAimaVehicleTechnologyCo.,Ltd.,GuangdongAimaVehicleTechnologyCo.,Ltd.andGuangxiAimaVehicleCo.,Ltd.werequalifiedforhi-techenterprisein2021,andmayenjoythetaxpreferenceof15%corporateincometaxfrom2021to2023.HenanAimaVehicleCo.,Ltd.,TianjinAimaSharedTechnologyServicesCo.,Ltd.andGelingNewEnergyTechnology(Shandong)Co.,Ltd.werequalifiedforhigh-techenterprisein2022,andmayenjoythetaxpreferenceof15%corporateincometaxfrom2022to2024.
3.Others
□Applicable√NotapplicableVII.Notestoitemsofconsolidatedfinancialstatements
1.Currencyfunds
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Endingbalance | Openingbalance |
| Cash | ||
| Cashatbanks | 6,612,189,387.29 | 6,030,234,206.13 |
| Others | 55,069,563.89 | 603,220,864.16 |
| Depositsoffinancecompanies | ||
| Total | 6,667,258,951.18 | 6,633,455,070.29 |
| Where:Totalamountdepositedabroad | 57,463,879.61 | 73.46 |
Othernotes:
None
2.Financialassetsheldfortrading
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Endingbalance | Openingbalance | Reasonandbasisfordesignation |
| Financialassetsatfairvaluethroughprofitorloss | 176,041,430.92 | 142,668,675.59 | / |
| Where: | |||
| Equityinvestments | 55,840,000.00 | 73,480,000.00 | / |
| Financialproducts | 120,201,430.92 | 69,188,675.59 | / |
| Total | 176,041,430.92 | 142,668,675.59 | / |
Othernotes:
□Applicable√Notapplicable
3.Derivativefinancialassets
□Applicable√Notapplicable
4.Notesreceivable
(1)Classificationofnotesreceivable
□Applicable√Notapplicable
(2)NotesreceivablealreadypledgedbytheCompanyattheendofthereportingperiod
□Applicable√Notapplicable
(3)Endorsedordiscountednotesreceivableattheendofthereportingperiod,butnotyetdueonthebalancesheetdate
□Applicable√Notapplicable
(4)Classifieddisclosurebasedonthemethodofprovisionforbaddebt
□Applicable√NotapplicableIndividualprovisionforbaddebts:
□Applicable√NotapplicableProvisionforbadanddoubtfuldebtsbasedonportfolio:
□Applicable√Notapplicable
Iftheprovisionforbaddebtisaccruedinaccordancewiththegeneralmodelofexpectedcreditloss
□Applicable√NotapplicableClassificationbasisofeachstageandprovisionratioforbaddebtsN/ADescriptionofsignificantchangesinthebookbalanceofnotesreceivablewithchangesinlossprovisioninthecurrentperiod:
□Applicable√Notapplicable
(5)Provisionforbaddebts
□Applicable√NotapplicableAmongthem,theamountofbaddebtprovisionrecoveredorreversedinthecurrentperiodissignificant:
□Applicable√NotapplicableOthernotes:
None
(6)Notesreceivableactuallywrittenoffinthereportingperiod
□Applicable√NotapplicableSignificantwrite-offofnotesreceivable:
□Applicable√NotapplicableNotesreceivablewrite-offdescription:
□Applicable√NotapplicableOthernotes
□Applicable√Notapplicable
5.Accountsreceivable
(1)Disclosedbasedonaging
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Aging | Endingbookbalance | Openingbookbalance |
| Within1year | ||
| Where:Itemizedwithin1year | ||
| Within1year | 348,516,988.63 | 291,745,445.04 |
| Sub-totalwithin1year | 348,516,988.63 | 291,745,445.04 |
| 1to2years | 30,609,641.25 | 5,622,082.11 |
| 2to3years | 1,144,007.85 | 138,725.00 |
| Over3years | 108,695.20 | |
| Total | 380,379,332.93 | 297,506,252.15 |
(2)Classifieddisclosurebasedonthemethodofprovisionforbaddebt
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Categories | Endingbalance | Openingbalance | ||||||||
| Bookbalance | Baddebtreserve | Bookvalue | Bookbalance | Baddebtreserve | Bookvalue | |||||
| Amount | Proportion(%) | Amount | Provisionproportion(%) | Amount | Proportion(%) | Amount | Provisionproportion(%) | |||
| Assessedbaddebtprovisionindividually | 41,832,276.77 | 11.00 | 15,181,751.34 | 36.29 | 26,650,525.43 | 3,176,317.65 | 1.07 | 3,176,317.65 | 100.00 | |
| Where: | ||||||||||
| Individuallysignificantamountandseparateprovisionforbaddebts | 41,832,276.77 | 11.00 | 15,181,751.34 | 36.29 | 26,650,525.43 | 3,176,317.65 | 1.07 | 3,176,317.65 | 100.00 | |
| Assessedbaddebtprovisioninportfolio | 338,547,056.16 | 89.00 | 7,357,416.40 | 2.17 | 331,189,639.76 | 294,329,934.50 | 98.93 | 3,964,387.39 | 1.35 | 290,365,547.11 |
| Where: | ||||||||||
| Portfoliosbasedoncreditriskcharacteristics | 338,547,056.16 | 89.00 | 7,357,416.40 | 2.17 | 331,189,639.76 | 294,329,934.50 | 98.93 | 3,964,387.39 | 1.35 | 290,365,547.11 |
| Total | 380,379,332.93 | 100.00 | 22,539,167.74 | 5.93 | 357,840,165.19 | 297,506,252.15 | 100.00 | 7,140,705.04 | 2.40 | 290,365,547.11 |
Individualprovisionforbaddebts:
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Name | Endingbalance | |||
| Bookbalance | Baddebtprovision | Provisionproportion(%) | Provisionreason | |
| Company1 | 38,089,592.68 | 11,439,067.25 | 30.03 | Estimatedcollectionrisk |
| Company2 | 3,176,317.65 | 3,176,317.65 | 100.00 | Estimated |
| collectionrisk | ||||
| Company3 | 566,366.44 | 566,366.44 | 100.00 | Estimatedcollectionrisk |
| Total | 41,832,276.77 | 15,181,751.34 | 36.29 | / |
NotesforIndividualprovisionforbaddebts:
□Applicable√NotapplicableProvisionforbadanddoubtfuldebtsbasedonportfolio:
√Applicable□NotapplicableProvisionitemsonportfolio:Combinationofcreditriskcharacteristics
Unit:Yuan(RMB)
| Name | Endingbalance | ||
| Accountsreceivable | Baddebtprovision | Provisionproportion(%) | |
| Within1year | 326,218,878.17 | 4,702,709.38 | 1.44 |
| 1to2years | 11,075,474.94 | 1,983,617.56 | 17.91 |
| 2to3years | 1,144,007.85 | 562,394.26 | 49.16 |
| Over3years | 108,695.20 | 108,695.20 | 100.00 |
| Total | 338,547,056.16 | 7,357,416.40 | 2.17 |
Notetorecognitionofprovisionforbaddebtsbasedonportfolio:
□Applicable√NotapplicableIftheprovisionforbaddebtisaccruedinaccordancewiththegeneralmodelofexpectedcreditloss
□Applicable√NotapplicableClassificationbasisofeachstageandprovisionratioforbaddebtsN/ADescriptionofsignificantchangesinthebookbalanceofaccountsreceivablewithchangesinlossprovisioninthecurrentperiod:
□Applicable√Notapplicable
(3)Provisionforbaddebts
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Categories | Openingbalance | Amountofmovementduringthereportingperiod | Endingbalance | |||
| Provision | Recoveryorreversal | Charge-offorwrite-off | Otherchanges | |||
| Assessedbaddebtprovisioninportfolio | 7,140,705.04 | 16,882,991.38 | -1,426,419.08 | -58,109.60 | 22,539,167.74 | |
| Total | 7,140,705.04 | 16,882,991.38 | -1,426,419.08 | -58,109.60 | 22,539,167.74 |
Wherethesignificantamountofthereserveforbaddebtrecoveredorreversed:
□Applicable√NotapplicableOthernotes:
None
(4)Accountsreceivableactuallywrittenoffinthereportingperiod
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Writtenoffamount |
| Accountsreceivableactuallywrittenoff | 58,109.60 |
Significantwrittenoffofaccountsreceivable
□Applicable√NotapplicableDescriptionofwrittenoffofaccountsreceivable:
√Applicable□NotapplicableItisconfirmedthattheaccountsreceivableforwhichbaddebtprovisionhasbeenmadecannotberecovered.
(5)Accountsreceivableandcontractassetsowedbythetopfivedebtorsbasedontheendingbalance
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Organizationname | Endingbalanceofaccountsreceivable | Endingbalanceofcontractassets | Endingbalanceofaccountsreceivableandcontractassets | Proportionintotalendingbalanceofaccountsreceivable(%) | Endingbalanceoftheprovisionforbaddebts |
| Company1 | 38,089,592.68 | 38,089,592.68 | 10.01 | 11,439,067.25 | |
| Company2 | 15,383,284.10 | 15,383,284.10 | 4.04 | 221,519.30 | |
| Company3 | 11,275,942.82 | 11,275,942.82 | 2.96 | 162,373.58 | |
| Company4 | 10,710,300.18 | 10,710,300.18 | 2.82 | 154,228.32 | |
| Company5 | 9,768,930.86 | 9,768,930.86 | 2.57 | 140,672.60 |
| Total | 85,228,050.64 | 85,228,050.64 | 22.40 | 12,117,861.05 |
Othernotes:
NoneOthernotes:
□Applicable√Notapplicable
6.Contractassets
(1)Contractassets
□Applicable√Notapplicable
(2)Amountandreasonsforsignificantchangesinbookvalueduringthereportingperiod
□Applicable√Notapplicable
(3)Classifieddisclosurebybaddebtprovisionmethod
□Applicable√NotapplicableIndividualprovisionforbaddebts:
□Applicable√NotapplicableDescriptionofindividualprovisionforbaddebts:
□Applicable√NotapplicableProvisionforbadanddoubtfuldebtsbasedonportfolio:
□Applicable√NotapplicableIftheprovisionforbaddebtisaccruedinaccordancewiththegeneralmodelofexpectedcreditloss
□Applicable√NotapplicableClassificationbasisofeachstageandprovisionratioforbaddebtsNoneDescriptionofsignificantchangesinthebookbalanceofcontractassetswithchangesinlossprovisioninthecurrentperiod:
□Applicable√Notapplicable
(4)Provisionforbaddebts
□Applicable√NotapplicableAmongthem,theamountofbaddebtprovisionrecoveredorreversedinthecurrentperiod
issignificant:
□Applicable√NotapplicableOthernotes:
None
(5)Contractassetsactuallywrittenoffinthereportingperiod
□Applicable√NotapplicableSignificantwrite-offofcontractassets:
□Applicable√NotapplicableContractassetswrite-offdescription:
□Applicable√NotapplicableOthernotes
□Applicable√Notapplicable
7.Receivablesfinancing
(1)Classificationoffinancingreceivables
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Endingbalance | Openingbalance |
| Bankacceptancenotes | 8,893,241.61 | 8,332,754.00 |
| Total | 8,893,241.61 | 8,332,754.00 |
(2)FinancingofpledgedreceivablesoftheCompanyattheendoftheperiod
□Applicable√Notapplicable
(3)FinancingofreceivablesendorsedordiscountedbytheCompanyattheendoftheperiodandnotyetdueatthebalancesheetdate
□Applicable√Notapplicable
(4)Classifieddisclosurebybaddebtprovisionmethod
□Applicable√NotapplicableIndividualprovisionforbaddebts:
□Applicable√NotapplicableDescriptionofindividualprovisionforbaddebts:
□Applicable√NotapplicableProvisionforbadanddoubtfuldebtsbasedonportfolio:
□Applicable√NotapplicableIftheprovisionforbaddebtisaccruedinaccordancewiththegeneralmodelofexpectedcreditloss
□Applicable√NotapplicableClassificationbasisofeachstageandprovisionratioforbaddebtsN/ADescriptionofsignificantchangesinthebookbalanceofreceivablesfinancingwithchangesinlossprovisioninthecurrentperiod:
□Applicable√Notapplicable
(5)Provisionforbaddebts
□Applicable√NotapplicableAmongthem,theamountofbaddebtprovisionrecoveredorreversedinthecurrentperiodissignificant:
□Applicable√NotapplicableOthernotes:
None
(6)Receivablesfinancingactuallywrittenoffinthereportingperiod
□Applicable√NotapplicableSignificantwrite-offofreceivablesfinancing:
□Applicable√NotapplicableReceivablesfinancingwrite-offdescription:
□Applicable√Notapplicable
(7)Changeofincrease/decreaseandfairvalueofaccountsreceivablefinancinginthereportingperiod:
□Applicable√Notapplicable
(8)Othernotes:
□Applicable√Notapplicable
8.Prepayments
(1)Prepaymentsarepresentedbasedonaging
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Aging | Endingbalance | Openingbalance | ||
| Amount | Proportion(%) | Amount | Proportion(%) | |
| Within1year | 36,269,084.25 | 99.02 | 16,958,698.72 | 96.61 |
| 1to2years | 99,506.38 | 0.27 | 342,330.47 | 1.95 |
| 2to3years | 83,138.38 | 0.23 | 185,675.17 | 1.06 |
| Over3years | 176,154.95 | 0.48 | 67,870.01 | 0.38 |
| Total | 36,627,883.96 | 100.00 | 17,554,574.37 | 100.00 |
Descriptionofthereasonsfortheuntimelysettlementofprepaymentswithanageofmorethan1yearandsignificantamounts:
At31December2023,therewerenosignificantprepaymentswithanageofmorethan1year.
(2)Prepaymentstothetopfivedebtorsoftheendingbalancecollectedbasedonthedebtorsoftheprepayments
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Organizationname | Endingbalance | Proportionintotalendingbalanceofprepayments(%) |
| Supplier1 | 6,000,000.00 | 16.38 |
| Supplier2 | 5,000,000.00 | 13.65 |
| Supplier3 | 2,508,800.00 | 6.85 |
| Supplier4 | 2,400,000.00 | 6.55 |
| Supplier5 | 1,623,450.00 | 4.43 |
| Total | 17,532,250.00 | 47.86 |
Othernotes:
NoneOthernotes:
□Applicable√Notapplicable
9.OtherreceivablesItemsPresentation
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Endingbalance | Openingbalance |
| Interestreceivables | 1,212,339.44 | 1,160,941.82 |
| Otherreceivables | 14,475,566.83 | 26,890,978.44 |
| Total | 15,687,906.27 | 28,051,920.26 |
Othernotes:
□Applicable√NotapplicableInterestreceivables
(1)Classificationofinterestreceivable
√Applicable□Notapplicable
| Items | Endingbalance | Openingbalance |
| Interestofaccountsreceivable | 1,212,339.44 | 1,160,941.82 |
| Total | 1,212,339.44 | 1,160,941.82 |
(2)Significantoverdueinterest
□Applicable√Notapplicable
(3)Classifieddisclosurebybaddebtprovisionmethod
□Applicable√NotapplicableIndividualprovisionforbaddebts:
□Applicable√NotapplicableDescriptionofindividualprovisionforbaddebts:
□Applicable√NotapplicableProvisionforbadanddoubtfuldebtsbasedonportfolio:
□Applicable√Notapplicable
(4)Iftheprovisionforbaddebtisaccruedinaccordancewiththegeneralmodelofexpectedcreditloss
□Applicable√NotapplicableClassificationbasisofeachstageandprovisionratioforbaddebtsNoneDescriptionofsignificantchangesinthebookbalanceofinterestreceivableswithchangesinlossprovisioninthecurrentperiod:
□Applicable√Notapplicable
(5)Provisionforbaddebts
□Applicable√NotapplicableAmongthem,theamountofbaddebtprovisionrecoveredorreversedinthecurrentperiodissignificant:
□Applicable√NotapplicableOthernotes:
None
(6)Interestreceivablesactuallywrittenoffinthereportingperiod
□Applicable√NotapplicableSignificantwrite-offofinterestreceivables:
□Applicable√NotapplicableInterestreceivableswrite-offdescription:
□Applicable√NotapplicableOthernotes：
□Applicable√NotapplicableDividendreceivable
(1)Dividendreceivable
□Applicable√Notapplicable
(2)Significantdividendsreceivablewithageexceeding1year
□Applicable√Notapplicable
(3)Classifieddisclosurebybaddebtprovisionmethod
□Applicable√NotapplicableIndividualprovisionforbaddebts:
□Applicable√NotapplicableDescriptionofindividualprovisionforbaddebts:
□Applicable√NotapplicableProvisionforbadanddoubtfuldebtsbasedonportfolio:
□Applicable√Notapplicable
(4)Iftheprovisionforbaddebtisaccruedinaccordancewiththegeneralmodelofexpectedcreditloss
□Applicable√NotapplicableClassificationbasisofeachstageandprovisionratioforbaddebtsNoneDescriptionofsignificantchangesinthebookbalanceofdividendreceivablewithchangesinlossprovisioninthecurrentperiod:
□Applicable√Notapplicable
(5)Provisionforbaddebts
□Applicable√NotapplicableAmongthem,theamountofbaddebtprovisionrecoveredorreversedinthecurrentperiodissignificant:
□Applicable√NotapplicableOthernotes:
None
(6)Dividendreceivableactuallywrittenoffinthereportingperiod
□Applicable√NotapplicableSignificantwrite-offofdividendreceivable:
□Applicable√NotapplicableDividendreceivablewrite-offdescription:
□Applicable√NotapplicableOthernotes：
□Applicable√NotapplicableOtherreceivables
(1)Disclosedbasedonaging
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Aging | Endingbookbalance | Openingbookbalance |
| Within1year | ||
| Where:Itemizedwithin1year | ||
| Within1year | 12,908,132.59 | 25,350,872.34 |
| Sub-totalwithin1year | 12,908,132.59 | 25,350,872.34 |
| 1to2years | 383,809.71 | 205,256.89 |
| 2to3years | 127,350.00 | 82,649.15 |
| Over3years | 1,085,474.53 | 1,265,939.69 |
| Total | 14,504,766.83 | 26,904,718.07 |
(2)Classificationbasedonthenatureoffund
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Natureofthefund | Endingbookbalance | Openingbookbalance |
| Threeguarantees | 5,577,033.25 | 11,527,981.67 |
| Receivablefromdisposalof | 4,928,340.21 |
| fixedassets | ||
| Deposits | 4,670,405.87 | 1,766,722.22 |
| Advancetoemployees | 164,078.56 | 242,296.80 |
| Others | 4,093,249.15 | 8,439,377.17 |
| Total | 14,504,766.83 | 26,904,718.07 |
(3)Provisionforbaddebts
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Baddebtprovision | Stage1 | Stage2 | Stage3 | Total |
| 12-monthexpectedcreditlosses | LifetimeECLs(nocreditimpairmentincurred) | LifetimeECLs(creditimpairmentalreadyincurred) | ||
| BalanceasatJanuary1,2023 | 10,300.00 | 3,439.63 | 13,739.63 | |
| BalanceasatJanuary1,2023inthereportingperiod | ||||
| --transferredintoStage2 | ||||
| --transferredintoStage3 | ||||
| --reveredtoStage2 | ||||
| --reversedtoStage1 | ||||
| Accrual | 18,900.00 | 18,900.00 | ||
| Reversal | 3,439.63 | 3,439.63 | ||
| Transferout | ||||
| Write-off | ||||
| Otherchanges | ||||
| BalanceasatDecember31,2023 | 29,200.00 | 29,200.00 |
ClassificationbasisofeachstageandprovisionratioforbaddebtsNoneNotetothesignificantchangesinthebookbalanceofotherreceivableswithchangesinprovisionforlossinthereportingperiod:
□Applicable√NotapplicableTheamountofprovisionforbaddebtsinthereportingperiodandthebasisforassessingwhetherthecreditriskoffinancialinstrumentshasincreasedsignificantly.
□Applicable√Notapplicable
(4)Provisionforbaddebts
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Categories | Openingbalance | Amountofmovementduringthereportingperiod | Endingbalance | |||
| Provision | Recoveryorreversal | Charge-offorwrite-off | Otherchanges | |||
| Baddebtprovision | 13,739.63 | 18,900.00 | 3,439.63 | 29,200.00 | ||
| Total | 13,739.63 | 18,900.00 | 3,439.63 | 29,200.00 | ||
Whereasignificantamountofthereserveforbaddebtrecoveredorreversedduringthereportingperiod:
□Applicable√NotapplicableOthernotes:
None
(5)Otherreceivablesactuallywrittenoffinthereportingperiod
□Applicable√NotapplicableSignificantwrite-offofotherreceivables:
□Applicable√NotapplicableOtherreceivableswrite-offdescription:
□Applicable√Notapplicable
(6)Otherreceivablesowedbythetopfivedebtorsbasedontheendingbalance
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Organizationname | Endingbalance | Proportionintotalendingbalanceofotherreceivables | NatureofPayment | Aging | BaddebtreserveEndingbalance |
| Company1 | 2,102,806.68 | 14.50 | Rent | Within1year | |
| Company2 | 1,143,704.91 | 7.89 | Deposits | Within1year | |
| Company3 | 500,000.00 | 3.45 | Deposits | Over3years | |
| Company4 | 500,000.00 | 3.45 | Deposits | Within1year | |
| Company5 | 450,000.00 | 3.10 | Deposits | Over3years | |
| Total | 4,696,511.59 | 32.39 | / | / |
(7)Presentationinotherreceivablesduetocentralizedmanagementoffunds
□Applicable√Notapplicable
Othernotes:
□Applicable√Notapplicable
10.Inventories
(1)Classificationofinventories
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Endingbalance | Openingbalance | ||||
| Bookbalance | Provisionforwrite-downofinventories/impairmentofcoststofulfilacontract | Bookvalue | Bookbalance | Provisionforwrite-downofinventories/impairmentofcoststofulfilacontract | Bookvalue | |
| Rawmaterials | 199,024,553.43 | 3,823,176.99 | 195,201,376.44 | 343,462,948.77 | 63,577.07 | 343,399,371.70 |
| Finishedgoods | 380,138,904.84 | 380,138,904.84 | 467,111,915.62 | 467,111,915.62 | ||
| Total | 579,163,458.27 | 3,823,176.99 | 575,340,281.28 | 810,574,864.39 | 63,577.07 | 810,511,287.32 |
(2)Provisionforwrite-downofinventories/impairmentofcoststofulfilacontract
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Openingbalance | Amountincreasedinthereportingperiod | Decreaseinthereportingperiod | Endingbalance | ||
| Provision | Others | Reversalorwrite-off | Others | |||
| Rawmaterials | 63,577.07 | 3,823,176.99 | 63,577.07 | 3,823,176.99 | ||
| Total | 63,577.07 | 3,823,176.99 | 63,577.07 | 3,823,176.99 | ||
Reasonsforreversalorwrite-offofprovisionforwrite-downofinventoriesinthecurrentperiod
√Applicable□NotapplicableAsatDecember31,2023,thenetrealizablevalueofsomeinventorieswaslowerthanthebookvalue,andtheprovisionforwrite-downofinventorieswasRMB3,823,176.99yuanthisyear.In2023,theGrouptransferredprovisionfordeclineinvalueofinventoriesduetosalesof
RMB63,577.07yuan.Provisionforwrite-downofinventoriesbyportfolio
□Applicable√NotapplicableAccrualcriteriaforprovisionforwrite-downofinventoriesbyportfolio
□Applicable√Notapplicable
(3)Calculationstandardandbasistotheamountofcapitalizedborrowingcostsinvolvedintheendingbalanceofinventories
□Applicable√Notapplicable
(4)Notetothecurrentamortizationamountofcontractperformancecosts
□Applicable√NotapplicableOthernotes
□Applicable√Notapplicable
11.Held-for-saleassets
□Applicable√Notapplicable
12.Non-currentassetsduewithinayear
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Endingbalance | Openingbalance |
| Non-currentassetsduewithinoneyear | 1,628,460,684.93 | 3,524,708,328.77 |
| Total | 1,628,460,684.93 | 3,524,708,328.77 |
Debtinvestmentduewithinoneyear
□Applicable√NotapplicableOtherdebtinvestmentsduewithinoneyear
□Applicable√NotapplicableOthernotestonon-currentassetsduewithinoneyearAsatDecember31,2023,theCompanyissuedbankacceptancebillspledgedwithRMB1,500,000,000.00yuanofthree-yeartimecertificatesofdepositduewithin1year(December31,2022:RMB3,200,000,000.00yuan),fordetails,pleaserefertoSection10VII,31Assetsrestrictedinownershiporrightofuse.
13.Othercurrentassets
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Endingbalance | Openingbalance |
| InputVATtobecredited | 99,451,703.53 | 61,570,447.87 |
| CITpaidinadvance | 20,436,517.16 | 15,453,043.29 |
| Total | 119,888,220.69 | 77,023,491.16 |
Othernotes:
None
14.Debtinvestment
(1)Aboutdebtinvestment
□Applicable√NotapplicableChangesinprovisionforimpairmentofdebtinvestmentsinthecurrentperiod
□Applicable√Notapplicable
(2)Significantdebtinvestmentattheendofthereportingperiod
□Applicable√Notapplicable
(3)Provisionforimpairment
□Applicable√NotapplicableClassificationbasisofeachstageandprovisionratioforbaddebtsNoneDescriptionofsignificantchangesinthebookbalanceofdebtinvestmentwithchangesinlossprovisioninthecurrentperiod:
□Applicable√NotapplicableTheamountofprovisionforimpairmentinthereportingperiodandthebasisforassessingwhetherthecreditriskoffinancialinstrumentshasincreasedsignificantly.
□Applicable√Notapplicable
(4)Debtinvestmentactuallywrittenoffinthereportingperiod
□Applicable√NotapplicableSignificantwrite-offofdebtinvestment:
□Applicable√NotapplicableDebtinvestmentwrite-offdescription:
□Applicable√NotapplicableOthernotes：
□Applicable√Notapplicable
15.Otherdebtinvestment
(1)Aboutotherdebtinvestment
□Applicable√NotapplicableChangesinprovisionforimpairmentofotherdebtinvestmentsinthecurrentperiod
□Applicable√Notapplicable
(2)Significantotherdebtinvestmentattheendofthereportingperiod
□Applicable√Notapplicable
(3)Provisionforimpairment
□Applicable√NotapplicableClassificationbasisofeachstageandprovisionratioforbaddebtsNoneDescriptionofsignificantchangesinthebookbalanceofotherdebtinvestmentwithchangesinlossprovisioninthecurrentperiod:
□Applicable√NotapplicableTheamountofprovisionforimpairmentinthereportingperiodandthebasisforassessingwhetherthecreditriskoffinancialinstrumentshasincreasedsignificantly.
□Applicable√Notapplicable
(4)Otherdebtinvestmentactuallywrittenoffinthereportingperiod
□Applicable√NotapplicableSignificantwrite-offofotherdebtinvestment:
□Applicable√NotapplicableOtherdebtinvestmentwrite-offdescription:
□Applicable√NotapplicableOthernotes：
□Applicable√Notapplicable
16.Long-termreceivables
(1)Aboutlong-termreceivables
□Applicable√Notapplicable
(2)Classifieddisclosurebybaddebtprovisionmethod
□Applicable√Notapplicable
Individualprovisionforbaddebts:
□Applicable√NotapplicableDescriptionofindividualprovisionforbaddebts:
□Applicable√NotapplicableProvisionforbadanddoubtfuldebtsbasedonportfolio:
□Applicable√Notapplicable
(3)Iftheprovisionforbaddebtisaccruedinaccordancewiththegeneralmodelofexpectedcreditloss
□Applicable√NotapplicableClassificationbasisofeachstageandprovisionratioforbaddebtsNoneDescriptionofsignificantchangesinthebookbalanceoflong-termreceivableswithchangesinlossprovisioninthecurrentperiod:
□Applicable√NotapplicableTheamountofprovisionforbaddebtsinthereportingperiodandthebasisforassessingwhetherthecreditriskoffinancialinstrumentshasincreasedsignificantly.
□Applicable√Notapplicable
(4)Provisionforbaddebts
□Applicable√NotapplicableAmongthem,theamountofbaddebtprovisionrecoveredorreversedinthecurrentperiodissignificant:
□Applicable√NotapplicableOthernotes:
None
(5)Long-termreceivablesactuallywrittenoffinthereportingperiod
□Applicable√NotapplicableSignificantwrite-offoflong-termreceivables:
□Applicable√NotapplicableLong-termreceivableswrite-offdescription:
□Applicable√NotapplicableOthernotes：
□Applicable√Notapplicable
17.Long-termequityinvestments
(1)Aboutlong-termequityinvestments
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Investees | Openingbalance | Increase/Decrease(+/-)inthereportingperiod | Endingbalance | Impairmentattheendoftheyear | |||||||
| Increase | Decrease | Investmentincomeundertheequitymethod | Othercomprehensiveincome | Otherequitymovement | Cashdividenddeclared | Provisionforimpairment | Others | ||||
| I.JointVenture | |||||||||||
| Sub-total | |||||||||||
| II.Associates | |||||||||||
| TodaySunshine | 9,903,822.89 | -1,525,302.81 | 8,378,520.08 | ||||||||
| TianjinJiema | 13,610,864.77 | 11,725,908.91 | -3,200,000.00 | 22,136,773.68 | |||||||
| GelingNewEnergy | 39,329,402.77 | 9,554,782.42 | -946,082.92 | -47,938,102.27 | |||||||
| TaizhouJinfu | 38,817,295.52 | -38,817,295.52 | |||||||||
| BeijingZhongzhong | 26,490,684.45 | 172,756.83 | 26,663,441.28 | ||||||||
| ChongqingXintai | 17,500,000.00 | -1,056,733.76 | 16,443,266.24 | ||||||||
| GuangxiNingfu | 51,785,700.00 | 1,856,294.63 | 53,641,994.63 | ||||||||
| Sub-total | 128,152,070.40 | 78,840,482.42 | -28,590,454.64 | -47,938,102.27 | -3,200,000.00 | 127,263,995.91 | |||||
| Total | 128,152,070.40 | 78,840,482.42 | -28,590,454.64 | -47,938,102.27 | -3,200,000.00 | 127,263,995.91 | |||||
(2)Impairmenttestoflong-termequityinvestments
□Applicable√NotapplicableOthernotes:
None
18.Otherequityinstrumentinvestment
(1)Aboutotherequityinstrumentinvestment
□Applicable√Notapplicable
(2)Descriptionofderecognitioninthecurrentperiod
□Applicable√NotapplicableOthernotes:
√Applicable□Notapplicable
Duringthereportingperiod,theCompanysubscribedpartoftheequityofGuangxiNingfubymeansofcapitalincrease.Sincetheshareholdingratioisnotmorethan5%,whichhasnosignificantimpactonGuangxiNingfu,theCompanyaccountedfortheinitialinvestmentasafinancialassetmeasuredatfairvaluethroughothercomprehensiveincome.Accordingtotheresolutionoftheshareholders'meetingofGuangxiNingfuonJune30,2023,itwasagreedtoaddZhangJian,chairmanoftheCompany,asadirectorofGuangxiNingfu.TheCompanyhasasignificantimpactonGuangxiNingfu.Duringthereportingperiod,itwasadjustedtoalong-termequityinvestmentcalculatedbytheequitymethodandnolongermeasuredatfairvalue.Bytheendofthereportingperiod,theCompanyhadinvested51.7857millionyuanandheld1.97%oftheequityofGuangxiNingfu.
②InFebruary2023,SpozmanandYunnanXiaojiIntelligentTransportationTechnologyCo.,Ltd.jointlyestablishedKunmingMichiTransportationTechnologyCo.,Ltd.witharegisteredcapitalof1millionyuan,andSpozmansubscribedacapitalcontributionof100,000yuan,withashareholdingratioof10%.Asoftheendofthereportingperiod,Spozmanhasnotyetcompletedthepaid-in.
19.Othernon-currentfinancialassets
□Applicable√NotapplicableOthernotes:
□Applicable√Notapplicable
20.InvestmentpropertiesMeasurementmodelforinvestment-orientedrealestate
(1)Investmentpropertiesmeasuredbasedonthecostmethod
Unit:Yuan(RMB)
| Items | Buildings | Landuserights | Total |
| I.Originalbookvalue | |||
| 1.Openingbalance | 246,150,748.72 | 79,042,302.38 | 325,193,051.10 |
| 2.Amountincreasedinthereportingperiod | 96,225,288.44 | 91,822,602.04 | 188,047,890.48 |
| (1)Purchased | |||
| (2)Inventories\fixedassets/constructioninprocesstransferredin | 96,225,288.44 | 91,822,602.04 | 188,047,890.48 |
| (3)Increaseofenterpriseconsolidation | |||
| 3.Amountdecreasedinthereportingperiod | 69,462,483.75 | 34,499,601.56 | 103,962,085.31 |
| (1)Disposals | |||
| (2)Othertransferout | |||
| (3)Transferouttofixedassetsorintangibleassets | 69,462,483.75 | 34,499,601.56 | 103,962,085.31 |
| 4.Endingbalance | 272,913,553.41 | 136,365,302.86 | 409,278,856.27 |
| II.Accumulativedepreciationandaccumulativeamortization | |||
| 1.Openingbalance | 61,931,218.63 | 8,881,098.83 | 70,812,317.46 |
| 2.Amountincreasedinthereportingperiod | 63,589,224.10 | 23,658,246.96 | 87,247,471.06 |
| (1)Depreciationandamortisationprovidedduringtheyear | 19,020,727.05 | 1,833,180.49 | 20,853,907.54 |
| (2)Transfer-inofthefixedassetorintangibleassets | 44,568,497.05 | 21,825,066.47 | 66,393,563.52 |
| 3.Amountdecreasedinthereportingperiod | 26,722,401.31 | 5,760,381.35 | 32,482,782.66 |
| (1)Disposal | |||
| (2)Othertransferout | |||
| (3)Transferouttofixedassetsorintangibleassets | 26,722,401.31 | 5,760,381.35 | 32,482,782.66 |
| 4.Endingbalance | 98,798,041.42 | 26,778,964.44 | 125,577,005.86 |
| III.Provisionforimpairment | |||
| 1.Openingbalance | |||
| 2.Amountincreasedinthereportingperiod | |||
| (1)Provision | |||
| 3.Amountdecreasedinthereportingperiod | |||
| (1)Disposal | |||
| (2)Othertransferout | |||
| 4.Endingbalance | |||
| IV.Bookvalue | |||
| 1.Bookvalueattheendofthereportingperiod | 174,115,511.99 | 109,586,338.42 | 283,701,850.41 |
| 2.Bookvalueatthebeginningofthe | 184,219,530.09 | 70,161,203.55 | 254,380,733.64 |
(2)Investmentpropertywithnotitlecertificate
□Applicable√Notapplicable
(3)Impairmenttestingofinvestmentpropertiesmeasuredatcost
□Applicable√NotapplicableOthernotes
□Applicable√Notapplicable
21.FixedassetItemsPresentation
√Applicable□Notapplicable
Unit:Yuan(RMB)
reportingperiodItems
| Items | Endingbalance | Openingbalance |
| Fixedasset | 2,183,569,604.60 | 2,032,571,583.72 |
| Disposaloffixedassets | 102,682.10 | 52,325.85 |
| Total | 2,183,672,286.70 | 2,032,623,909.57 |
Othernotes:
□Applicable√NotapplicableFixedasset
(1)Aboutfixedassets
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Buildings | Machineryandequipment | Vehicles | Officeequipment | Electronicequipment | Productiontools | Total |
| I.Originalbookvalue: | |||||||
| 1.Openingbalance | 1,952,145,803.53 | 582,934,592.33 | 39,380,437.12 | 41,266,150.56 | 62,874,375.33 | 349,186,774.43 | 3,027,788,133.30 |
| 2.Amountincreasedinthereportingperiod | 105,682,266.35 | 108,477,279.46 | 2,597,277.01 | 3,429,236.45 | 14,139,971.03 | 308,513,805.90 | 542,839,836.20 |
| (1)Purchase | 10,238,028.84 | 77,477,817.62 | 1,867,912.93 | 3,116,524.08 | 8,870,246.36 | 53,253,192.65 | 154,823,722.48 |
| (2)Transfersfromconstructioninprogress | 23,319,329.71 | 22,610,185.32 | 413,120.56 | 233,869.50 | 4,748,367.91 | 234,663,033.82 | 285,987,906.82 |
| (3)Increaseofenterpriseconsolidation | 2,662,424.05 | 8,389,276.52 | 316,243.52 | 78,842.87 | 521,356.76 | 20,597,579.43 | 32,565,723.15 |
| (4)Transfersfrom | 69,462,483. | 69,462,483.7 | |||||
| investmentproperties | 75 | 5 | |||||
| 3.Amountdecreasedinthereportingperiod | 96,538,215.15 | 21,328,863.96 | 2,561,371.96 | 3,068,104.09 | 2,047,210.66 | 32,440,648.60 | 157,984,414.42 |
| (1)Disposalsorretirements | 312,926.71 | 21,328,863.96 | 2,561,371.96 | 3,068,104.09 | 2,047,210.66 | 32,440,648.60 | 61,759,125.98 |
| (2)Transferredintoinvestmentproperties | 96,225,288.44 | 96,225,288.44 | |||||
| 4.Endingbalance | 1,961,289,854.73 | 670,083,007.83 | 39,416,342.17 | 41,627,282.92 | 74,967,135.70 | 625,259,931.73 | 3,412,643,555.08 |
| II.Accumulativedepreciation | |||||||
| 1.Openingbalance | 534,878,391.75 | 221,938,579.48 | 28,239,046.66 | 23,386,440.66 | 34,988,490.30 | 149,051,446.09 | 992,482,394.94 |
| 2.Amountincreasedinthereportingperiod | 130,498,151.02 | 48,379,505.42 | 4,422,767.12 | 6,288,301.07 | 13,389,626.16 | 117,376,046.88 | 320,354,397.67 |
| (1)Depreciationprovidedduringtheyear | 103,775,749.71 | 48,379,505.42 | 4,422,767.12 | 6,288,301.07 | 13,389,626.16 | 117,376,046.88 | 293,631,996.36 |
| (2)Transfersfrominvestmentproperties | 26,722,401.31 | 26,722,401.31 | |||||
| 3.Amountdecreasedinthereportingperiod | 44,642,526.09 | 13,153,104.21 | 2,392,946.15 | 2,501,494.57 | 1,540,050.26 | 19,763,975.86 | 83,994,097.14 |
| (1)Disposalsorretirements | 74,029.04 | 13,153,104.21 | 2,392,946.15 | 2,501,494.57 | 1,540,050.26 | 19,763,975.86 | 39,425,600.09 |
| (2)Transferredintoinvestmentproperties | 44,568,497.05 | 44,568,497.05 | |||||
| 4.Endingbalance | 620,734,016.68 | 257,164,980.69 | 30,268,867.63 | 27,173,247.16 | 46,838,066.20 | 246,663,517.11 | 1,228,842,695.47 |
| III.Provisionforimpairment | |||||||
| 1.Openingbalance | 1,951,274.69 | 782,879.95 | 2,734,154.64 | ||||
| 2.Amountincreasedinthereportingperiod | |||||||
| (1)Provision | |||||||
| 3.Amountdecreasedinthereportingperiod | 1,720,019.68 | 782,879.95 | 2,502,899.63 | ||||
| (1)Disposalsorretirements | |||||||
| (2)Write-offincurrentyear | 1,720,019.68 | 782,879.95 | 2,502,899.63 | ||||
| 4.Endingbalance | 231,255.01 | 231,255.01 | |||||
| IV.Bookvalue | |||||||
| 1.Bookvalueattheendofthereportingperiod | 1,340,555,838.05 | 412,686,772.13 | 9,147,474.54 | 14,454,035.76 | 28,129,069.50 | 378,596,414.62 | 2,183,569,604.60 |
| 2.Bookvalueatthe | 1,417,267,4 | 359,044,73 | 11,141,390. | 17,879,709.9 | 27,885,885. | 199,352,448 | 2,032,571,58 |
| beginningofthereportingperiod | 11.78 | 8.16 | 46 | 0 | 03 | .39 | 3.72 |
(2)Abouttemporarilyidlefixedassets
□Applicable√Notapplicable
(3)Fixedassetsleasedthroughoperatinglease
□Applicable√Notapplicable
(4)Aboutfixedassetswithouttitlecertificate
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Bookvalue | Thereasonwhythetitlecertificatehasnotbeengranted |
| Buildings | 4,924,739.86 | Forself-builtauxiliaryfunctionhouses,itisunnecessarytoapplyfortitlecertificate. |
(5)Impairmenttestoffixedassets
□Applicable√NotapplicableOthernotes:
□Applicable√NotapplicableDisposaloffixedassets
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Endingbalance | Openingbalance |
| Disposaloffixedassets | 102,682.10 | 52,325.85 |
| Total | 102,682.10 | 52,325.85 |
Othernotes:
None
22.ConstructioninprogressItemsPresentation
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Endingbalance | Openingbalance |
| Engineeringsupplies | 973,358,340.87 | 63,522,676.76 |
| Constructioninprogress | 18,846,939.04 | 22,488,641.34 |
| Total | 992,205,279.91 | 86,011,318.10 |
Othernotes:
□Applicable√NotapplicableConstructioninprogress
(1)Aboutconstructioninprogress
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Endingbalance | Openingbalance | ||||
| Bookbalance | Impairmentreserve | Bookvalue | Bookbalance | Impairmentreserve | Bookvalue | |
| GuangxiVehicle’sfactorybuilding | 244,200,674.07 | 244,200,674.07 | ||||
| ChongqingVehicle’sfactorybuilding | 233,605,357.47 | 233,605,357.47 | 1,372,641.51 | 1,372,641.51 | ||
| TaizhouManufacture’sfactorybuilding | 233,238,245.36 | 233,238,245.36 | 17,716,240.10 | 17,716,240.10 | ||
| LishuiVehicle’sfactorybuilding | 197,574,713.52 | 197,574,713.52 | 1,660,261.97 | 1,660,261.97 | ||
| JiangsuVehicle’smoulds | 19,362,920.50 | 19,362,920.50 | 3,272,592.74 | 3,272,592.74 | ||
| TianjinVehicle’smoulds | 15,302,825.35 | 15,302,825.35 | 8,403,362.82 | 8,403,362.82 | ||
| ZhejiangVehicle’sfactorybuilding | 8,479,226.14 | 8,479,226.14 | 8,269,289.96 | 8,269,289.96 | ||
| AimaGroup’sSoftware | 3,875,330.19 | 3,875,330.19 | 10,749,759.11 | 10,749,759.11 | ||
| Others | 17,719,048.27 | 17,719,048.27 | 12,078,528.55 | 12,078,528.55 | ||
| Total | 973,358,340.87 | 973,358,340.87 | 63,522,676.76 | 63,522,676.76 | ||
(2)Movementsofimportantconstructioninprogressprojectsinthereporting
period
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Projectname | Budget | Openingbalance | Addition | Transferredto | Otherdecrea | Endingbalance | Theproportionof | ProjectProgre | Accumulated | Where:Capitalize | Interestcapitaliza | Sourceoffunds |
| thefixedassets | ses | projectsinvestmentaccountedforbudget(%) | ss | amountofinterestcapitalization | damountofinterestinthecurrentperiod | tionrateofthecurrentperiod(%) | ||||||
| GuangxiVehicle’sfactorybuilding | 575,140,000.00 | 244,200,674.07 | 244,200,674.07 | 42.00 | Ownfunds | |||||||
| TaizhouManufacture’sfactorybuilding | 487,770,000.00 | 17,716,240.10 | 215,522,005.26 | 233,238,245.36 | 48.00 | Ownfunds | ||||||
| ChongqingVehicle’sfactorybuilding | 1,435,150,000.00 | 1,372,641.51 | 234,638,791.92 | -2,406,075.96 | 233,605,357.47 | 16.00 | Ownfunds | |||||
| LishuiVehicle’sfactorybuilding | 977,320,000.00 | 1,660,261.97 | 195,914,451.55 | 197,574,713.52 | 20.00 | 39,741,699.34 | 39,741,699.34 | 3.19 | Fundsraised | |||
| Total | 3,475,380,000.00 | 20,749,143.58 | 890,275,922.80 | -2,406,075.96 | 908,618,990.42 | / | 39,741,699.34 | 39,741,699.34 | / | / |
(3)Provisionforimpairmentofconstructioninprogressinthereportingperiod
□Applicable√Notapplicable
(4)Impairmenttestofconstructioninprogress
□Applicable√NotapplicableOthernotes
□Applicable√NotapplicableEngineeringsupplies
(1)Aboutengineeringsupplies
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Endingbalance | Openingbalance | ||||
| Bookbalance | Provisionforimpairment | Bookvalue | Bookbalance | Provisionforimpairment | Bookvalue | |
| Engineeringsupplies | 18,846,939.04 | 18,846,939.04 | 22,488,641.34 | 22,488,641.34 | ||
| Total | 18,846,939.04 | 18,846,939.04 | 22,488,641.34 | 22,488,641.34 |
Othernotes:
None
23.Productivebiologicalasset
(1)Productivebiologicalassetbyusingthecostmeasurementmodel
□Applicable√Notapplicable
(2)Impairmenttestingofproductivebiologicalassetmeasuredatcost
□Applicable√Notapplicable
(3)Productivebiologicalassetbyusingthefairvaluemeasurementmodel
□Applicable√NotapplicableOthernotes
□Applicable√Notapplicable
24.OilandGasAssets
(1)Aboutoilandgasassets
□Applicable√Notapplicable
(2)Impairmenttestofoilandgasassets
□Applicable√NotapplicableOthernotes:
None
25.Right-of-useassets
(1)Aboutright-of-useassets
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Buildings | Total |
| I.Originalbookvalue: | ||
| 1.Openingbalance | 57,089,208.18 | 57,089,208.18 |
| 2.Amountincreasedinthereportingperiod | 302,179.38 | 302,179.38 |
| Newlyleased | 302,179.38 | 302,179.38 |
| 3.Amountdecreasedinthereportingperiod | 519,368.35 | 519,368.35 |
| Expirationofleasecontract | 519,368.35 | 519,368.35 |
| 4.Endingbalance | 56,872,019.21 | 56,872,019.21 |
| II.Accumulativedepreciation | ||
| 1.Openingbalance | 14,568,712.38 | 14,568,712.38 |
| 2.Amountincreasedinthereportingperiod | 8,653,838.43 | 8,653,838.43 |
| (1)Depreciationprovidedduringtheyear | 8,653,838.43 | 8,653,838.43 |
| 3.Amountdecreasedinthereportingperiod | 463,071.24 | 463,071.24 |
| (1)Disposals | 463,071.24 | 463,071.24 |
| 4.Endingbalance | 22,759,479.57 | 22,759,479.57 |
| III.Provisionforimpairment | ||
| 1.Openingbalance | ||
| 2.Amountincreasedinthereportingperiod | ||
| (1)Provision | ||
| 3.Amountdecreasedinthereportingperiod | ||
| (1)Disposal | ||
| 4.Endingbalance | ||
| IV.Bookvalue | ||
| 1.Bookvalueattheendofthereportingperiod | 34,112,539.64 | 34,112,539.64 |
| 2.Bookvalueatthebeginningofthereportingperiod | 42,520,495.80 | 42,520,495.80 |
(2)Impairmenttestingofright-of-useassets
□Applicable√NotapplicableOthernotes:
None
26.Intangibleassets
(1)Abouttheintangibleassets
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Landuserights | Patentright | Nonpatentedtechnology | Software | Trademarks | Total |
| I.Originalbookvalue: | ||||||
| 1.Openingbalance | 424,689,689.65 | 182,442,805.98 | 2,136,049.25 | 609,268,544.88 | ||
| 2.Amountincreasedinthereportingperiod | 327,811,135.70 | 46,505,135.92 | 680,141.42 | 374,996,413.04 | |
| (1)Purchase | 5,646,869.13 | 5,646,869.13 | |||
| (2)InternalR&D | |||||
| (3)Increaseduetobusinesscombinations | 125,312.69 | 680,141.42 | 805,454.11 | ||
| (4)Transfersfromconstruction-in-process | 293,311,534.14 | 40,732,954.10 | 334,044,488.24 | ||
| (5)Transferredfrominvestmentpropertiesinthereportingperiod | 34,499,601.56 | 34,499,601.56 | |||
| 3.Amountdecreasedinthereportingperiod | 91,822,602.04 | 91,822,602.04 | |||
| (1)Disposal | |||||
| (2)Transferredintoinvestmentpropertiesinthereportingperiod | 91,822,602.04 | 91,822,602.04 | |||
| 4.Endingbalance | 660,678,223.31 | 228,947,941.90 | 2,816,190.67 | 892,442,355.88 | |
| II.Accumulativeamortization | |||||
| 1.Openingbalance | 64,030,459.27 | 86,272,131.96 | 979,180.70 | 151,281,771.93 | |
| 2.Amountincreasedinthereportingperiod | 17,797,601.04 | 28,416,956.69 | 845,243.51 | 47,059,801.24 | |
| (1)Amortisationprovidedduringtheyear | 12,037,219.69 | 28,416,956.69 | 845,243.51 | 41,299,419.89 | |
| (2)Transferredfrominvestmentpropertiesinthecurrentyear | 5,760,381.35 | 5,760,381.35 | |||
| 3.Amountdecreasedinthereportingperiod | 21,825,066.47 | 21,825,066.47 | |||
| (1)Disposal | |||||
| (2)Transferredintoinvestmentproperties | 21,825,066.47 | 21,825,066.47 | |||
| 4.Endingbalance | 60,002,993.84 | 114,689,088.65 | 1,824,424.21 | 176,516,506.70 | |
| III.Provisionforimpairment | |||||
| 1.Openingbalance | |||||
| 2.Amountincreasedinthereportingperiod | |||||
| (1)Provision | |||||
| 3.Amountdecreasedinthereportingperiod | |||||
| (1)Disposal | |||||
| 4.Endingbalance | |||||
| IV.Bookvalue | |||||
| 1.Bookvalueattheendofthereportingperiod | 600,675,229.47 | 114,258,853.25 | 991,766.46 | 715,925,849.18 | |
| 2.Bookvalueatthebeginningofthereportingperiod | 360,659,230.38 | 96,170,674.02 | 1,156,868.55 | 457,986,772.95 | |
TheproportionofintangibleassetsformedthroughinternalR&Dtothebalanceofintangibleassetsattheendoftheperiodwasnil.
(2)Aboutthelanduserightswithouttitlecertificate
□Applicable√Notapplicable
(3)Impairmenttestofintangibleassets
□Applicable√NotapplicableOthernotes:
□Applicable√Notapplicable
27.Goodwill
(1)Originalbookvalueofthegoodwill
□Applicable√Notapplicable
(2)Provisionforimpairmentofthegoodwill
□Applicable√Notapplicable
(3)Relevantinformationoftheassetsgrouporportfoliooftheassetsgroupswherethegoodwillislocated
□Applicable√NotapplicableChangesinassetgroupsorportfolioofassetsgroups
□Applicable√NotapplicableOthernotes
□Applicable√Notapplicable
(4)SpecificmethodfordeterminingrecoverableamountTherecoverableamountisdeterminedatfairvaluelesscoststosell
□Applicable√NotapplicableTherecoverableamountisdeterminedatthepresentvalueoftheexpectedfuturecashflows
□Applicable√NotapplicableReasonsforthedifferencebetweentheaboveinformationandtheinformationusedinthepreviousyear'simpairmenttestorexternalinformation
□Applicable√NotapplicableReasonsforthedifferencebetweentheinformationusedintheimpairmenttestofthepreviousyearandtheactualsituationofthecurrentyear
□Applicable√Notapplicable
(5)PerformancecommitmentsandimpairmentofgoodwillThereisaperformancecommitmentwhengoodwillisformedandthereportingperiodorthepreviousperiodiswithintheperformancecommitmentperiod
□Applicable√NotapplicableOthernotes
□Applicable√Notapplicable
28.Long-termprepaidexpenses
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Openingbalance | Amountincreasedin | Amountamortizedinthereporting | Otherdecrease | Endingbalance |
| thereportingperiod | period | ||||
| Refurbishmentpayment | 10,936,811.20 | 2,640,432.34 | 6,157,920.90 | 7,419,322.64 | |
| Paymentfortheimprovementoftherentedfixedassets | 4,667,310.54 | 2,884,471.80 | 1,782,838.74 | ||
| Others | 28,290,985.67 | 15,886,084.98 | 14,050,980.80 | 30,126,089.85 | |
| Total | 43,895,107.41 | 18,526,517.32 | 23,093,373.50 | 39,328,251.23 |
Othernotes:
None
29.Deferredtaxassets/liabilities
(1)Deferredtaxassetbeforebeingoffset
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Endingbalance | Openingbalance(Restated) | ||
| Deductibletemporarydifferences | Deferredtaxassets | Deductibletemporarydifferences | DeferredtaxAssets | |
| Deductibleloss | 292,432,400.56 | 55,865,092.35 | 198,066,664.29 | 40,218,297.85 |
| Deferredincome | 22,568,367.74 | 5,337,959.51 | 7,154,444.67 | 1,598,398.96 |
| Baddebtprovision | 3,823,176.99 | 955,794.25 | 63,577.07 | 15,894.27 |
| Provisionofinventories | 8,185,782.48 | 1,936,392.39 | 15,391,982.03 | 3,846,248.38 |
| Depreciationbook-taxdifferenceoffixedassets | 79,236,526.56 | 16,766,202.41 | 37,414,598.87 | 6,262,650.43 |
| Provisionforimpairmentoffixedassets | 231,255.01 | 34,688.25 | 2,734,154.64 | 582,125.16 |
| Investmentlossesofassociates | 90,000,000.00 | 22,500,000.00 | 51,544,467.53 | 12,804,720.20 |
| Salesrebatesandrewards | 398,469,160.37 | 76,718,223.52 | 437,665,926.26 | 84,566,172.38 |
| Leaseliability | 55,424,934.33 | 8,453,886.93 | 58,542,198.47 | 9,257,505.85 |
| Share-basedpayment | 118,169,892.14 | 27,300,173.41 | 80,660,907.94 | 19,156,587.56 |
| Accruedexpenses | 11,735,395.43 | 2,462,967.14 | 11,182,837.33 | 3,983,843.20 |
| Total | 1,080,276,891.61 | 218,331,380.16 | 900,421,759.10 | 182,292,444.24 |
(2)Deferredtaxliabilitiesbeforebeingoffset
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Endingbalance | Openingbalance(Restated) | ||
| Taxabletemporarydifferences | DeferredtaxLiabilities | Taxabletemporarydifferences | DeferredtaxLiabilities | |
| Investmentincomeoffinancialproducts | 247,823,980.29 | 50,078,491.18 | 416,695,525.12 | 100,558,415.87 |
| Depreciationoffixedassets | 22,731,165.83 | 3,409,674.87 | 33,398,236.17 | 5,009,735.43 |
| Deferredinterestpaymentsonoccupancyfees | 1,212,339.44 | 231,372.12 | 1,158,116.42 | 219,920.55 |
| Profitorlossfromassociates | 6,978,295.91 | 1,744,573.98 | ||
| Right-of-useassets | 34,112,539.64 | 5,284,685.06 | 42,444,180.63 | 6,860,563.71 |
| Total | 312,858,321.11 | 60,748,797.21 | 493,696,058.34 | 112,648,635.56 |
(3)Netamountofdeferredtaxassets/liabilitiesafterbeingoffset
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Offsetamountattheendofthereportingperiod | Netamountattheendofthereportingperiod | Offsetamountatthebeginningofthereportingperiod(Restated) | Netamountatthebeginningofthereportingperiod |
| Deferredtaxassets | 50,392,539.41 | 167,938,840.75 | 98,269,180.59 | 84,023,263.65 |
| Deferredtaxliability | 50,392,539.41 | 10,356,257.80 | 98,269,180.59 | 14,379,454.97 |
(4)Detailsofunrecogniseddeferredincometaxassets
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Endingbalance | Openingbalance |
| Deductibletemporarydifferences | 48,539,293.97 |
| Deductibletaxlosses | 46,743,189.14 | 20,898,005.44 |
| Total | 46,743,189.14 | 69,437,299.41 |
(5)Unrecogniseddeferredtaxassetsarisingfromdeductibletaxlosseswillexpireinthefollowingyears
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Year | Amountattheendofthereportingperiod | Amountattheyearbeginning | Remarks |
| Toexpirein2023 | 588,361.75 | ||
| Toexpirein2024 | |||
| Toexpirein2025 | |||
| Toexpirein2026 | 10,066,688.21 | ||
| Toexpirein2027 | 6,797,513.52 | 10,242,955.48 | |
| Toexpirein2028 | 39,945,675.62 | ||
| Total | 46,743,189.14 | 20,898,005.44 | / |
Othernotes:
□Applicable√Notapplicable
30.Othernon-currentassets
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Endingbalance | Openingbalance | ||||
| Bookbalance | Provisionforimpairment | Bookvalue | Bookbalance | Provisionforimpairment | Bookvalue | |
| Three-yearfixeddepositcertificates | 5,476,081,051.13 | 5,476,081,051.13 | 3,524,838,013.71 | 3,524,838,013.71 | ||
| StoreDecoration | 238,077,253.06 | 238,077,253.06 | 150,975,384.28 | 150,975,384.28 | ||
| Prepaymentforlanduserightandequipment | 48,467,654.38 | 48,467,654.38 | 133,276,435.44 | 133,276,435.44 | ||
| Total | 5,762,625,958.57 | 5,762,625,958.57 | 3,809,089,833.43 | 3,809,089,833.43 | ||
Othernotes:
AsofDecember31,2023,theGroupissuedbankacceptancenoteswiththree-yearfixeddepositcertificatesofRMB4,831,970,833.33yuanasthepledge(December31,2022:
RMB3,230,000,000.00yuan)，Section10VII.31Assetsrestrictedinownershiporrightofusefordetails.
31.Assetsrestrictedinownershiporrightofuse
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Endingbalance | Openingbalance | ||||
| Bookbalance | Provisionforimpairment | Bookvalue | Bookbalance | Provisionforimpairment | Bookvalue | |
| Currencyfunds | 628,724,982.33 | 628,724,982.33 | 1,096,591,549.00 | 1,096,591,549.00 | ||
| Othernon-currentassets | 4,831,970,833.33 | 4,831,970,833.33 | 3,230,000,000.00 | 3,230,000,000.00 | ||
| Non-currentassetsduewithinoneyear | 1,500,000,000.00 | 1,500,000,000.00 | 3,200,000,000.00 | 3,200,000,000.00 | ||
| Total | 6,960,695,815.66 | 6,960,695,815.66 | 7,526,591,549.00 | 7,526,591,549.00 | ||
Othernotes:
1、AsofDecember31,2023,theGroupissuedbankacceptancebillswithRMB54,070,370.88yuandepositforbankacceptancebillsasthepledge(December31,2022:
602,044,463.13yuan);asofDecember31,2022,theGroupissuedbankacceptancebillswithone-yeardepositcertificatesofRMB574,654,611.45yuanasthepledge(December31,2021:470,000,000.00yuan);asofDecember31,2023,theGroupdidn′tsubscribedforfinancialproducts(December31,2022:23,600,000.00yuan);asofDecember31,2023,theGrouphadnocurrencyfundsfrozenduetolaborlitigation(December31,2022:RMB947,085.87yuan).
2、AsofDecember31,2023,theGroupissuedbankacceptancenoteswithathree-yearfixeddepositcertificateofRMB6,331,970,833.33yuanasthepledge(December31,2022:RMB6,430,000,000.00yuan).
32.Short-termborrowings
(1)Classificationofshort-termborrowings
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Endingbalance | Openingbalance |
| Pledgedloans | 511,250,000.00 | |
| Total | 511,250,000.00 |
Notestotheclassificationofshort-termborrowings:
None
(2)Short-termborrowingsoverduebutstillremainingoutstanding
□Applicable√NotapplicableShort-termborrowingsoverduebutstillremainingoutstanding
□Applicable√NotapplicableOthernotes
□Applicable√Notapplicable
33.Transactionalfinancialliabilities
□Applicable√NotapplicableOthernotes
□Applicable√Notapplicable
34.Derivativefinancialliabilities
□Applicable√Notapplicable
35.Notespayable
(1)Presentationofnotespayable
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Categories | Endingbalance | Openingbalance |
| Bankacceptancenotes | 6,032,204,440.66 | 6,853,338,997.32 |
| Total | 6,032,204,440.66 | 6,853,338,997.32 |
Notespayablethatdueandunpaidattheendoftheperiodwerenil.Thereasonfortheoverduepaymentisnone.
36.Accountspayable
(1)Presentationofaccountspayable
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Endingbalance | Openingbalance |
| Accountspayable | 2,459,299,045.99 | 2,535,832,081.83 |
| Total | 2,459,299,045.99 | 2,535,832,081.83 |
(2)Significantaccountspayablewithageexceeding1yearoroverdue
□Applicable√NotapplicableOthernotes
√Applicable□Notapplicable
AsofDecember31,2023,theCompanyhadnosignificantaccountspayableagedoveroneyear.
37.Receiptsinadvance
(1)Presentationofreceiptsinadvance
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Endingbalance | Openingbalance |
| Factorybuildingrent | 19,145,352.20 | 20,619,060.26 |
| Total | 19,145,352.20 | 20,619,060.26 |
(2)Significantreceiptsinadvancewithageexceeding1year
□Applicable√Notapplicable
(3)Amountandreasonsforsignificantchangesinbookvalueduringthereportingperiod
□Applicable√NotapplicableOthernotes
□Applicable√Notapplicable
38.Contractliabilities
(1)Aboutcontractliabilities
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Endingbalance | Openingbalance |
| Salesrebates | 398,469,160.37 | 437,665,926.26 |
| Advancesfromsalesofgoods | 224,607,522.84 | 198,486,523.06 |
| Advancesfromservice | 2,155,584.76 | 2,277,155.72 |
| Total | 625,232,267.97 | 638,429,605.04 |
Significantcontractliabilitieswithageexceeding1year
□Applicable√NotapplicableOthernotes:
√Applicable□NotapplicableAsofDecember31,2023,theCompanyhadnosignificantcontractliabilitiesagedoveroneyear.
39.Employeebenefitspayable
(1)Employeebenefitspayable
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Openingbalance | Increaseinthereportingperiod | Decreaseinthereportingperiod | Endingbalance |
| I.Short-termemployeebenefits | 162,471,954.56 | 1,208,709,124.89 | 1,199,976,927.52 | 171,204,151.93 |
| II.Post-employmentbenefits-definedcontributionplans | 428,925.94 | 87,762,921.39 | 87,851,192.18 | 340,655.15 |
| III.Dismissalcompensation | ||||
| IV.Otherbenefitduewithinayear | ||||
| Total | 162,900,880.50 | 1,296,472,046.28 | 1,287,828,119.70 | 171,544,807.08 |
(2)Presentationofshort-termremuneration
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Openingbalance | Increaseinthereportingperiod | Decreaseinthereportingperiod | Endingbalance |
| I.Wagesorsalaries,bonuses,allowancesandsubsidies | 157,884,201.76 | 1,060,428,974.33 | 1,047,957,392.29 | 170,355,783.80 |
| II.Staffwelfare | 3,661,845.20 | 61,382,270.24 | 64,920,996.19 | 123,119.25 |
| III.Socialsecuritycontributions | 318,726.86 | 51,214,707.36 | 51,340,570.54 | 192,863.68 |
| Including:Medicalinsurance | 290,422.92 | 45,152,780.08 | 45,266,838.65 | 176,364.35 |
| Workinjuryinsurance | 21,184.34 | 3,575,303.54 | 3,579,988.55 | 16,499.33 |
| Maternityinsurance | 7,119.60 | 2,486,623.74 | 2,493,743.34 | |
| IV.Housingfund | 490,870.00 | 31,349,860.78 | 31,429,161.78 | 411,569.00 |
| V.Unionrunningcostsandemployeeeducationcosts | 116,310.74 | 674,618.50 | 670,113.04 | 120,816.20 |
| VI.Short-termpaidabsencefromwork | ||||
| VII.Short-termprofit-sharingplan | ||||
| VIII.Otherinsuranceforemployees | 3,658,693.68 | 3,658,693.68 | ||
| Total | 162,471,954.56 | 1,208,709,124.89 | 1,199,976,927.52 | 171,204,151.93 |
(3)Presentationofthedefinedcontributionplan
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Openingbalance | Increaseinthereportingperiod | Decreaseinthereportingperiod | Endingbalance |
| 1.Pensioninsurance | 414,569.04 | 84,965,186.98 | 85,050,849.50 | 328,906.52 |
| 2.Unemploymentinsurance | 14,356.90 | 2,797,734.41 | 2,800,342.68 | 11,748.63 |
| 3.CorporateAnnuityContributions | ||||
| Total | 428,925.94 | 87,762,921.39 | 87,851,192.18 | 340,655.15 |
Othernotes:
□Applicable√Notapplicable
40.Payabletaxes
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Endingbalance | Openingbalance |
| Value-addedtax | 1,843,442.58 | 7,961,223.12 |
| Corporateincometax | 124,817,949.00 | 134,652,186.50 |
| Personalincometax | 4,262,371.99 | 2,867,285.91 |
| Urbanmaintenanceandconstructiontax | 329,977.27 | 586,791.60 |
| Landappreciationtax | 4,451,173.83 | 4,566,646.41 |
| Stampduty | 1,795,237.40 | 589,381.87 |
| EducationSurcharge | 236,274.94 | 419,518.73 |
| Others | 2,464,730.99 | 2,390,662.30 |
| Total | 140,201,158.00 | 154,033,696.44 |
Othernotes:
None
41.Otherpayables
(1)ItemsPresentation
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Endingbalance | Openingbalance |
| Interestpayable | ||
| Dividendspayable | ||
| Otherpayables | 628,111,216.14 | 564,648,489.37 |
| Total | 628,111,216.14 | 564,648,489.37 |
Othernotes:
□Applicable√Notapplicable
(2)InterestpayablePresentationofclassification
□Applicable√NotapplicableSignificantoverdueinterestpayable:
□Applicable√NotapplicableOthernotes:
□Applicable√Notapplicable
(3)DividendspayablePresentationofclassification
□Applicable√Notapplicable
(4)OtherpayablesOtherpayablesstatedbasedonnatureoffund
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Endingbalance | Openingbalance |
| Deposits | 370,849,646.25 | 304,954,079.97 |
| Moneyforsubscriptionofrestrictedshares | 81,505,389.60 | 134,953,200.00 |
| Expensesaccrued | 79,984,245.20 | 72,492,382.44 |
| Payableofequipment&engineeringprojects | 39,748,430.43 | 30,572,005.48 |
| Others | 56,023,504.66 | 21,676,821.48 |
| Total | 628,111,216.14 | 564,648,489.37 |
Significantotherpayableswithageexceeding1year
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Endingbalance | Causeoffailureinrepaymentorcarry-over |
| Securitydepositofsuppliers | 167,276,991.01 | Thecashpledgehasnotbeenrefundedasthecooperationisgoingon |
| Total | 167,276,991.01 | / |
Othernotes:
□Applicable√Notapplicable
42.Held-for-saleliabilities
□Applicable√Notapplicable
43.Non-currentliabilitiesduewithinayear
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Endingbalance | Openingbalance |
| Long-termborrowingsduewithinoneyear | ||
| Bondspayableduewithinoneyear | 4,999,900.00 | |
| Long-termpayablesduewithinoneyear | ||
| Leaseliabilitiesduewithinoneyear | 12,568,222.60 | 5,682,224.67 |
| Total | 17,568,122.60 | 5,682,224.67 |
Othernotes:
None
44.OthercurrentliabilitiesAboutothercurrentliabilities
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Endingbalance | Openingbalance |
| Short-termbondspayable | ||
| Refundpayables | ||
| PendingoutputVAT | 28,516,899.32 | 24,329,644.32 |
| Total | 28,516,899.32 | 24,329,644.32 |
Increase/decreaseoftheshort-termbondspayable:
□Applicable√NotapplicableOthernotes:
□Applicable√Notapplicable
45.Long-termborrowings
(1)Classificationoflong-termborrowings
□Applicable√NotapplicableOthernotes:
□Applicable√Notapplicable
46.Bondspayable
(1)Bondspayable
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Endingbalance | Openingbalance |
| Convertiblebonds | 1,644,650,128.51 | |
| Total | 1,644,650,128.51 |
(2)Detailsofbondspayable(excludingotherfinancialinstrumentsclassifiedasfinancialliabilities,suchaspreferredshares,perpetualbonds,etc.)
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Bondname | Facevalue | Couponrate（%） | Issuedate | Bondterm | Issueamounts | Openingbalance | Issuanceincurrentperiod | Accruedinterestatfacevale | Amortizationofdiscounts | Repaymentincurrentperiod | Shareconversionincurrentperiod | Endingbalance | Defaultornot |
| Convertiblebonds | 100.00 | Note | February23,2023 | Sixyears | 2,000,000,000.00 | 2,000,000,000.00 | 4,999,961.00 | -360,317,496.03 | -32,336.46 | 1,644,650,128.51 | No | ||
| Total | / | / | / | / | 2,000,000,000.00 | 2,000,000,000.00 | 4,999,961.00 | -360,317,496.03 | -32,336.46 | 1,644,650,128.51 | / |
Note:Thecouponrateofconvertiblecorporatebondsis0.3%inthefirstyear,0.5%inthesecondyear,1.0%inthethirdyear,1.5%inthefourthyear,1.8%inthefifthyearand
2.0%inthesixthyear.
(3)Notestoconvertiblecompanybonds
√Applicable□Notapplicable
| Item | Conditionsofshareconversion | Timeofshareconversion |
| Convertiblecompanybonds | Convertiblebondholdersshallconverttheconvertiblebondsfromthefirsttradingdaysixmonthsaftertheissuanceoftheconvertiblebondstothematuritydateoftheconvertiblebonds | September1,2023toFebruary22,2029 |
ApprovedbyCRSC[2022]No.3038,theCompanyissued20,000,000convertiblebondswithafacevalueofRMB100.ThebondspayinterestonFebruary22everyyearandrepaytheprincipalatmaturity.Theinitialconversionpriceofconvertiblebondsis61.29yuanpershare.On19May2023,duetotheimplementationoftheannualequitydistributionin2022,theconversionpriceoftheCompanywasadjustedfrom61.29yuanpershareto39.99yuanpershareinaccordancewiththerelevantprovisionsof
convertiblebonds.OnSeptember16,2023,theCompanyimplementedthesemi-annualequitydistributionin2023.Accordingtotherelevantprovisionsofconvertiblebonds,theconversionpriceofAimaConvertibleBondswasadjustedfrom39.99yuanpershareto
39.64yuanpershare.AstheaboveequitytransferisaderivativeoftheCompany'sexchangeofafixedamountofitsownequityinstrumentsforafixedamountofcashorotherfinancialassets,theGroupaccountsforitasequity.Thefairvalueoftheliabilitycomponentsofthesebondsisestimatedattheissuedateusingmarketinterestratesforsimilarbondswithoutwarrants,withtheremainderbeingrecognisedasthefairvalueoftheequitycomponentandincludedinotherequityinstruments.Accountingtreatmentandjudgmentbasisforequityconversion.
□Applicable√Notapplicable
(4)NotetootherfinancialinstrumentsclassifiedasfinancialliabilitiesBasicinformationontheoutstandingotherfinancialinstruments,includingpreferredshares,perpetualbonds,etc.attheendofthereportingperiod
□Applicable√NotapplicableStatementofmovementoftheoutstandingotherfinancialinstruments,includingpreferredshares,perpetualbonds,etc.attheendofthereportingperiod
□Applicable√NotapplicableNotetothebasisofotherfinancialinstrumentsclassifiedasfinancialliabilities
□Applicable√NotapplicableOthernotes:
□Applicable√Notapplicable
47.Leaseliabilities
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Endingbalance | Openingbalance |
| Leasepayments | 57,072,622.13 | 69,772,565.55 |
| Unrecognisedfinancingcosts | -13,593,562.53 | -16,249,928.74 |
| Total | 43,479,059.60 | 53,522,636.81 |
Othernotes:
None
48.Long-termaccountspayableItemsPresentation
□Applicable√NotapplicableOthernotes:
□Applicable√NotapplicableLong-termaccountspayable
(1)Longtermaccountspayablestatedbasedonthenature
□Applicable√NotapplicableSpecialaccountspayable
(1)Specialaccountspayablestatedbasedonthenature
□Applicable√Notapplicable
49.Longtermpayrollpayabletotheemployees
□Applicable√Notapplicable
50.Provision
□Applicable√Notapplicable
51.DeferredincomeAboutdeferredincome
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Openingbalance | Increaseinthereportingperiod | Decreaseinthereportingperiod | Endingbalance | Causeofformation |
| Governmentsubsidies | 198,066,664.29 | 106,434,406.51 | 12,068,670.24 | 292,432,400.56 | Relatedwithassets |
| Total | 198,066,664.29 | 106,434,406.51 | 12,068,670.24 | 292,432,400.56 | / |
Othernotes:
□Applicable√Notapplicable
52.Othernon-currentliabilities
□Applicable√Notapplicable
53.Sharecapital
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Openingbalance | Increase/Decrease(+/-) | Endingbalance | |||||
| Sharesissued | Bonusshares | Capitalreserves\surplusreservesturnedtoshares | Others | Sub-total | |||
| TotalShares | 574,700,004.00 | 287,350,002.00 | -124,999.00 | 287,225,003.00 | 861,925,007.00 | ||
Othernotes:
(1)OnApril14,2023,thesixthmeetingofthefifthboardofdirectorsoftheCompanydeliberatedandapprovedtheProposalonthePlanforProfitDistributionandConversionofCapitalReserveintoShareCapitalin2022.Basedonthetotalsharecapitalof574,700,004sharesoftheCompanyonApril14,2023,5shareswereconvertedintocapitalreserveforevery10sharestoallshareholders.Afterthisconversion,thetotalsharecapitaloftheCompanywasincreasedto862,050,006shares,withanincreaseofsharecapitalofRMB287,350,002.00yuan.
(2)OnJuly25,2023,theCompanyrepurchasedandcancelled126,000restrictedshares,whichweregrantedundertheRestrictedStockIncentivePlan2021forthefirsttime,fromfourincentiveobjectsresignedduetopersonalreasonswhowerenolongereligibleforincentives,withadecreaseofsharecapitalofRMB126,000.00yuan.
(3)SinceSeptember2023,theconvertiblebondsissuedbytheCompanycanbeconvertedintosharesoftheCompany.AsofDecember31,2023,atotalof1,001shareshavebeenconverted,increasingthesharecapitalbyRMB1,001.00yuan.
54.Otherequityinstruments
(1)Basicinformationontheoutstandingotherfinancialinstruments,includingpreferredshares,perpetualbonds,etc.attheendofthereportingperiod
√Applicable□NotapplicableThebasicinformationandchangesofthecurrentconvertiblecorporatebondsaredetailedinSection10VII.46BondsPayable.
(2)Statementofmovementoftheoutstandingotherfinancialinstruments,includingpreferredshares,perpetualbonds,etc.attheendofthereportingperiod
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Financialinstrumentsoutstanding | Opening | Increaseincurrentperiod | Decreaseincurrentperiod | Ending | ||||
| Number | Bookvalue | Number | Bookvalue | Number | Bookvalue | Number | Bookvalue | |
Notetotheirincrease/decreaseandthecause(s)oftheirmovementofotherequityinstrumentsinthereportingperiodandthebasisforthecorrespondingaccountingtreatment:
√Applicable□NotapplicableApprovedbyCRSC[2022]No.3038,theCompanyissued20,000,000convertiblebondswithafacevalueofRMB100.ThebondspayinterestonFebruary22everyyearandrepaytheprincipalatmaturity.Theinitialconversionpriceofconvertiblebondsis61.29yuanpershare.Othernotes:
□Applicable√Notapplicable
55.Capitalreserves
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Openingbalance | Increaseincurrentyear | Decreaseincurrentyear | Endingbalance |
| Capitalpremium(capitalstockpremium) | 1,977,765,415.63 | 70,515,018.52 | 288,437,802.00 | 1,759,842,632.15 |
| Othercapitalreserve | 3,570,007.25 | 3,570,007.25 | ||
| Total | 1,977,765,415.63 | 74,085,025.77 | 288,437,802.00 | 1,763,412,639.40 |
Othernotes,includingthechangesinthecurrentperiodandthereasonsforthechanges:
Changesincapitalreservefortheyearareattributableto:
1)CapitalreserveconvertedintosharecapitaldecreasedbyRMB287,350,002yuan;
2)Thisyear,126,000restrictedshareswererepurchasedandcancelled,andthecapitalreservewasreducedbyRMB1,087,800.00yuan;
3)TheCompany'scapitalreserveincreasedbyRMB70,168,931.98duetotheincreaseinamortizationofrestrictedstockexpensesandstockoptionexpenses;
4)AcquisitionofminorityinterestinTianjinAimaSharedTechnologyServiceCo.,Ltd.increasedcapitalreservebyRMB306,251.85yuan;
5)ThecapitalreserveincreasedbyRMB39,834.69yuanduetotheconversionof
| Convertiblebonds | 20,000,000 | 432,654,022.65 | 400 | 8,653.09 | 19,999,600 | 432,645,369.56 | |
| Total | 20,000,000 | 432,654,022.65 | 400 | 8,653.09 | 19,999,600 | 432,645,369.56 |
convertiblecorporatebonds;
6)Asthedeductibleamountofequityincentiveinthefutureisexpectedtoexceedthecostrecognizedinthewaitingperiod,thedeferredincometaxassetsformedinexcessaredirectlyincludedintheowner'sequity,resultinginanincreaseincapitalreserveofRMB3,570,007.25yuan.
56.Treasurystock
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Openingbalance | Increaseinthereportingperiod | Decreaseinthereportingperiod | Endingbalance |
| Share-basedPayment | 134,953,200.00 | 399,999,784.28 | 53,447,810.40 | 481,505,173.88 |
| Total | 134,953,200.00 | 399,999,784.28 | 53,447,810.40 | 481,505,173.88 |
Othernotes,includingthechangesinthecurrentperiodandthereasonsforthechanges:
ChangesinTreasurystockinthecurrentyearweredueto:1)therestrictedstockequityincentiveplanoftheCompanyin2021waspartiallyunlockeduponexpiration,andtherepurchaseobligationwasreleasedtoreduceTreasurystockbyRMB52,373,030.40yuan;2)Thisyear,126,000restrictedshareswererepurchasedandcancelled,andTreasurystockwerereducedbyRMB1,074,780.00yuan;3)Thisyear,14,130,524shareswererepurchased,andTreasurystockwereincreasedbyRMB399,999,784.28yuan.
57.Othercomprehensiveincome
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Item | Openingbalance | Amountincurredinthecurrentperiod | Endingbalance | |||||
| Amountincurredbeforeincometaxinthecurrentperiod | Less:Transferredfromothercomprehensiveincomeinthepriorperiodtoprofitorloss | Less:Transferredfromothercomprehensiveincomeinthepriorperiodtoretainedearnings | Less:Incometaxexpenses | Attributabletoparentcompanyaftertax | AttributabletoMinorityshareholders’equityaftertax | |||
| I．Othercomprehensiveincomethatcannotbereclassifiedintoprofitorloss | ||||||||
| Where:Remeasurementofadefinedbenefitplan | ||||||
| Othercomprehensiveincomeusingtheequitymethodthatwillnotbereclassifiedtoprofitorloss | ||||||
| Changeinthefairvalueofotherequityinvestments | ||||||
| Changeinthefairvalueoftheentity’sowncreditrisks | ||||||
| II.Othercomprehensiveincometobereclassifiedtoprofitorloss | 268.34 | 268.34 | 268.34 | |||
| Othercomprehensiveincomeusingtheequitymethodthatmaybereclassifiedtoprofitorloss | ||||||
| Changeinthefairvalueofotherdebtinvestments | ||||||
| Amountrecognisedinothercomprehensiveincomeresultingfrom |
| thereclassificationoffinancialassets | ||||||
| Provisionforcreditimpairmentofotherdebtinvestments | ||||||
| Cashflowhedgereserve | ||||||
| Exchangedifferencesontranslationofforeigncurrencyfinancialstatements | 268.34 | 268.34 | 268.34 | |||
| Totalothercomprehensiveincome | 268.34 | 268.34 | 268.34 |
Otherexplanations,includingtheadjustmenttotheamountinitiallyrecognizedwhentheeffectiveportionoftheprofitorlossonthecashflowhedgeistransferredtothehedgeditem:
None
58.Specialreserves
□Applicable√Notapplicable
59.Surplusreserves
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Openingbalance | Increaseinthereportingperiod | Decreaseinthereportingperiod | Endingbalance |
| Statutorysurplusreserve | 290,784,296.91 | 140,178,206.59 | 430,962,503.50 | |
| Discretionarysurplusreserves | ||||
| reservefund | ||||
| EnterpriseDevelopment |
| Fund | ||||
| Others | ||||
| Total | 290,784,296.91 | 140,178,206.59 | 430,962,503.50 |
Notestosurplusreserves,includingthechangeinthecurrentperiod,thereasonsforthechange:
InaccordancewiththeCompanyLawandtheCompany'sArticlesofAssociation,theCompanyappropriates10%oftheprofittothestatutorysurplusreserves.Wheretheaccumulatedamountofthesurplusreservesreaches50%ormoreoftheCompany’sregisteredcapital,furtherappropriationisnotrequired.Aftertheappropriationtothestatutorysurplusreserves,theCompanymayappropriatethediscretionarysurplusreserves.Whenapproved,thediscretionarysurplusreservescanbeusedtomakeupforaccumulatedlossesorconvertedtothepaid-incapital.
60.Retainedearnings
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Reportingperiod | Previousperiod |
| Retainedearningsattheendofthepreviousperiodbeforetheadjustment | 4,012,879,593.44 | 2,433,650,547.11 |
| Totalretainedearningsunderadjustmentatthebeginningofthereportingyear(adjustmentup+,adjustmentdown-) | ||
| Afteradjustment:Retainedearningsatthebeginningofthereportingperiod | 4,012,879,593.44 | 2,433,650,547.11 |
| Plus:netprofitattributabletoownersoftheparent | 1,881,115,782.35 | 1,873,433,343.24 |
| Less:Appropriationtostatutorysurplusreserves | 140,178,206.59 | 88,954,295.41 |
| Appropriationtodiscretionarysurplusreserves | ||
| Appropriationtogeneralrisksreserves | ||
| Cashdividendsdeclared | 1,049,358,585.51 | 205,250,001.50 |
| Dividendsconvertedtocapital | ||
| Cancellationofrestrictedstockcashdividends | -139,020.00 | |
| Retainedearningsattheendofthereportingperiod | 4,704,597,603.69 | 4,012,879,593.44 |
Statementofadjustmentofretainedearningsatthebeginningofthereportingperiod:
1.TheamountinvolvedintheretroactiveadjustmentaccordingtotheASBEsandtherelevantnewprovisionsinfluencingtheretainedearningsatthebeginningofthereportingperiodwasRMB0.00yuan.
2.TheamountinvolvedinchangeoftheaccountingpolicyinfluencingtheretainedearningsatthebeginningofthereportingperiodwasRMB0.00yuan.
3.TheamountinvolvedincorrectionofthesignificantaccountingerrorsinfluencingtheretainedearningsatthebeginningofthereportingperiodwasRMB0.00yuan.
4.TheamountinvolvedinchangeoftheconsolidationscopecausedbythecommoncontrolinfluencingtheretainedearningsatthebeginningofthereportingperiodwasRMB
0.00yuan.
5.ThetotalamountinvolvedinotheradjustmentsinfluencingtheretainedearningsatthebeginningofthereportingperiodwasRMB0.00yuan.Note:1.OnApril15,2023,afterdeliberationandapprovalattheannualgeneralmeetingofshareholdersin2022,basedonthetotalsharecapitalof574,700,004sharesoftheCompanybeforetheimplementationoftheplan,acashdividendofRMB13.04yuanwasdistributedforevery10shares,withatotalcashdividendofRMB749,408,805.22yuan.OnSeptember16,2023,afterdeliberationandapprovalatthethirdextraordinarygeneralmeetingofshareholders,basedonthetotalsharecapitalof861,924,656sharesoftheCompanybeforetheimplementationoftheplan,acashdividendofRMB3.48yuanwasdistributedforevery10shares,withatotalcashdividendofRMB299,949,780.29yuan.
2.OnMay19,2023,theCompanyheldtheeighthmeetingofthefifthboardofdirectorsandtheeighthmeetingofthefifthboardofsupervisors,deliberatedandapprovedtheBillonRepurchaseandCancellationofSomeRestrictedStocksFirstGrantedundertheRestrictedStockIncentivePlanin2021,repurchasingandcancelingatotalof126,000restrictedsharesheldbyfourincentiveobjectsthathavebeengrantedbuthavenotyetbeenlifted.Accordingtothe2021RestrictedStockIncentivePlanofAimaTechnologyGroupCo.,Ltd.,iftherestrictedsharescannotbelifted,theCompanyshalldeductthecashdividendsenjoyedbytheincentiveobjectwhenrepurchasingtherestrictedsharesinaccordancewiththeprovisionsoftheincentiveplan.Asoftherepurchasedate,theCompanyhascancelledthecumulativecashdividendofRMB139,020.00yuandistributedontheaboverepurchasedrestrictedshares.
61.Operatingrevenueandcostofsales
(1)Operatingrevenueandcostsofsales
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Amountincurredinthereportingperiod | Amountincurredinthepreviousperiod | ||
| Revenue | Cost | Revenue | Cost | |
| Primarybusiness | 20,894,672,459.54 | 17,470,787,478.54 | 20,665,424,894.78 | 17,312,624,672.57 |
| Otherbusinesses | 141,448,402.75 | 92,078,468.19 | 136,788,099.68 | 85,877,959.79 |
| Total | 21,036,120,862.29 | 17,562,865,946.73 | 20,802,212,994.46 | 17,398,502,632.36 |
(2)Breakdownofoperatingrevenueandcostsofsales
√Applicable□Notapplicable
Unit:Yuan(RMB)
| ClassificationofContracts | Total | |
| Operatingrevenue | Costsofsales | |
| Typesofcommodities | ||
| Revenuefromelectricbicycles,electricTricycle,bicyclesandaccessories | 20,873,852,542.77 | 17,455,112,116.87 |
| Rentalincome | 45,372,400.74 | 30,234,754.10 |
| Otherrevenue | 116,895,918.78 | 77,519,075.76 |
| Classificationbasedontheoperationregions | ||
| Domestic | 20,810,047,648.92 | 17,381,543,552.03 |
| Overseas | 226,073,213.37 | 181,322,394.70 |
| Timeclassificationbasedontransferofcommodities | ||
| Revenuerecognitionatapointintime | 20,990,741,709.85 | 17,532,631,192.63 |
| Revenuerecognitionovertime | 45,379,152.44 | 30,234,754.10 |
| Total | 21,036,120,862.29 | 17,562,865,946.73 |
Othernotes
□Applicable√Notapplicable
(3)InformationabouttheGroup’sperformanceobligations
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Item | Timingofperformanceobligations | Significantpaymentterms | ThenatureofthegoodstheCompanyundertakestotransfer | Whetheritisthemainresponsibleperson | AmountsassumedbytheCompanythatareexpectedtoberefundedtocustomers | TypesofqualityassuranceprovidedbytheCompanyandrelatedobligations |
| Salesofgoods | Thecustomerobtainscontroloftherelevant | Thecontractpriceisgenerallydueupondeliveryofthegoods | Electrictwo-wheelers,electrictricycle, | Yes | 0 | Qualityassurance |
| goods | andreceiptoftheinvoice | etc. | ||||
| Provisionofservices | Whenprovidingservices | Advancesfromcustomers | After-salesserviceextension | Yes | 0 | None |
| Total | / | / | / | / | 0 | / |
(4)Informationaboutapportioningtotheresidualperformanceobligations
√Applicable□NotapplicableInthisreportingperiod,theaggregateamountofthetransactionpriceallocatedtotheperformanceobligationsthatareunsatisfied,partiallyunsatisfied,orwithoutcontractsignedwasRMB226,763,107.60yuan,whichisexpectedtoberecognisedasrevenuein2024.
(5)Significantcontractchangesorsignificanttransactionpriceadjustments
□Applicable√NotapplicableOthernotes:
None
62.Taxesandsurcharges
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Amountincurredinthereportingperiod | Amountincurredinthepreviousperiod |
| Excisetax | ||
| Salestax | ||
| Urbanmaintenanceandconstructiontax | 26,368,432.96 | 31,536,406.84 |
| Educationsurcharge | 19,421,736.06 | 22,970,992.61 |
| Resourcetax | ||
| Realestatetax | 19,887,759.17 | 20,144,185.11 |
| Landusetax | 9,575,917.13 | 4,917,111.34 |
| Taxonusingvehicleandboat | 63,694.22 | 57,516.00 |
| Stampduty | 24,940,672.76 | 25,217,252.62 |
| Others | 88,089.13 | 218,331.65 |
| Total | 100,346,301.43 | 105,061,796.17 |
Othernotes:
None
63.Sellingexpenses
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Amountincurredinthereportingperiod | Amountincurredinthepreviousperiod |
| Employeebenefits | 356,478,756.46 | 340,972,332.90 |
| Advertisementandpropagandaexpenses | 128,252,330.13 | 100,574,326.15 |
| Businesstravelexpenses | 42,756,939.75 | 37,211,421.89 |
| Transportationexpenses | 18,883,533.99 | 32,326,093.02 |
| Consultingservice | 33,078,849.27 | 25,139,713.34 |
| Others | 61,758,378.44 | 51,091,961.05 |
| Total | 641,208,788.04 | 587,315,848.35 |
Othernotes:
None
64.Administrativeexpenses
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Amountincurredinthereportingperiod | Amountincurredinthepreviousperiod |
| Employeebenefits | 255,810,909.14 | 244,895,671.09 |
| Depreciationandamortization | 87,410,736.71 | 76,108,989.94 |
| Consultingservices | 56,896,861.55 | 33,971,119.44 |
| Others | 74,158,342.34 | 77,801,442.20 |
| Total | 474,276,849.74 | 432,777,222.67 |
Othernotes:
None
65.Researchanddevelopmentexpenses
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Amountincurredinthereportingperiod | Amountincurredinthepreviousperiod |
| Employeebenefits | 265,547,642.84 | 212,768,918.62 |
| Depreciationandamortization | 112,408,208.42 | 71,713,991.80 |
| Professionalservicefees | 163,637,390.70 | 185,359,756.90 |
| Others | 47,873,979.56 | 36,842,370.69 |
| Total | 589,467,221.52 | 506,685,038.01 |
Othernotes:
None
66.Financialexpenses
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Amountincurredinthereportingperiod | Amountincurredinthepreviousperiod |
| Interestincome | -437,121,544.42 | -394,300,036.06 |
| Interestexpenses | 24,713,122.27 | 8,693,658.65 |
| Servicechargeexpenses | 2,133,895.19 | 1,941,279.12 |
| Foreignexchangedifferences | -2,259.87 | 967,800.79 |
| Total | -410,276,786.83 | -382,697,297.50 |
Othernotes:
None
67.Otherincome
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Amountincurredinthereportingperiod | Amountincurredinthepreviousperiod |
| Governmentsubsidiesrelatedtotheordinarycourseofbusiness | 142,224,526.00 | 78,068,464.81 |
| Valueaddedtaxcredit | 29,826,884.74 | 46,432.16 |
| Others | 1,107,950.00 | 15,150.00 |
| Total | 173,159,360.74 | 78,130,046.97 |
Othernotes:
None
68.Investmentincome
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Amountincurredinthereportingperiod | Amountincurredinthepreviousperiod |
| Returnoninvestmentfromfinancialproducts | 1,367,154.01 | 16,736,022.09 |
| Long-termequityinvestmentincomeundertheequitymethod | -28,590,454.64 | -21,624,009.83 |
| Investmentincomeorlossfromdisposaloflong-termequityinvestments | ||
| Returnoninvestmentduringtheholdingoffinancialassetsheldfortrading | 1,200,000.00 | 1,200,000.00 |
| Lossesarisingfromtheacquisitionof | 4,627,046.25 |
| controlofsubsidiariesandtheremeasurementoftheoriginallong-termequityinvestmentatfairvalueonthecombinationdate | ||
| Total | -21,396,254.38 | -3,687,987.74 |
Othernotes:
None
69.Netexposurehedgeincome
□Applicable√Notapplicable
70.Fairvaluegainsorlosses
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Sourceofincomearisingfromchangeinfairvalue | Amountincurredinthereportingperiod | Amountincurredinthepreviousperiod |
| Financialassetsheldfortrading | -17,226,650.77 | -12,120,000.00 |
| Where:Gainsfromchangesinfairvalueofderivativefinancialinstruments | ||
| Total | -17,226,650.77 | -12,120,000.00 |
Othernotes:
None
71.Creditimpairmentlosses
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Amountincurredinthereportingperiod | Amountincurredinthepreviousperiod |
| Impairmentlossforaccountsreceivable | -15,456,572.30 | -7,138,208.26 |
| Impairmentlossforotherreceivables | -15,460.37 | 25,993,352.29 |
| Total | -15,472,032.67 | 18,855,144.03 |
Othernotes:
None
72.Impairmentlossesofassets
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Amountincurredinthereportingperiod | Amountincurredinthepreviousperiod |
| I.Lossforwrite-downofinventoriesandImpairmentlossforcontractassets | -3,823,176.99 | -63,577.07 |
| II.Impairmentlossforfixedassets | -3,335,891.40 | |
| Total | -3,823,176.99 | -3,399,468.47 |
Othernotes:
None
73.Gainsorlossesondisposalofnon-currentassets
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Amountincurredinthereportingperiod | Amountincurredinthepreviousperiod |
| Lossondisposaloffixedassets | 456,784.34 | 1,286,052.98 |
| Total | 456,784.34 | 1,286,052.98 |
Othernotes:
None
74.Non-operatingincomeAboutnon-operatingincome
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Amountincurredinthereportingperiod | Amountincurredinthepreviousperiod | Amountcountedtothecurrentnon-operatingprofitorloss |
| Totalgainondisposalofnon-currentassets | |||
| Including:Gainsondisposaloffixedassets | |||
| Gainsondisposalofintangibleassets | |||
| Gainonexchangeofnon-monetaryassets | |||
| Donationsaccepted | |||
| Governmentsubsidies | 6,048,790.15 | 12,908,508.78 | 6,048,790.15 |
| Penaltyincome | 16,381,376.97 | 9,760,705.37 | 16,381,376.97 |
| Accidentclaims | 4,891,549.05 | 1,409,233.00 | 4,891,549.05 |
| Others | 13,261,100.58 | 10,120,493.32 | 13,261,100.58 |
| Total | 40,582,816.75 | 34,198,940.47 | 40,582,816.75 |
Othernotes:
□Applicable√Notapplicable
75.Non-operatingexpenses
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Amountincurredinthereportingperiod | Amountincurredinthepreviousperiod | Amountcountedtothecurrentnon-operatingprofitorloss |
| Totallossesondamageandretirementofnon-currentassets | 5,640,313.40 | 6,491,365.24 | 5,640,313.40 |
| Where:Lossondisposaloffixedassets | 5,640,313.40 | 6,491,365.24 | 5,640,313.40 |
| Lossondisposalofintangibleassets | |||
| Lossonexchangeofnon-monetaryassets | |||
| Donationexpendituresforpublicinterest | 6,121,145.13 | 27,511,324.99 | 6,121,145.13 |
| Others | 9,393,976.23 | 6,841,473.22 | 9,393,976.23 |
| Total | 21,155,434.76 | 40,844,163.45 | 21,155,434.76 |
Othernotes:
None
76.Incometaxexpenses
(1)Statementofincometaxexpenses
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Amountincurredinthereportingperiod | Amountincurredinthepreviousperiod |
| Currenttax | 401,379,769.33 | 335,674,890.22 |
| Deferredtax | -84,368,767.02 | 18,768,600.19 |
| Total | 317,011,002.31 | 354,443,490.41 |
(2)Processofadjustmentofaccountingprofitandincometaxexpenses
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Amountincurredinthereportingperiod |
| Totalprofit | 2,213,357,953.92 |
| Incometaxexpenseatthestatutoryorapplicabletaxrate | 553,339,488.48 |
| Effectofdifferenttaxratesforsomesubsidiaries | -163,855,827.40 |
| Adjustmentsinrespectofcurrenttaxofpreviousperiods | 1,317,659.04 |
| Incomenotsubjecttotax | -1,908,437.13 |
| Costs,expensesandlossesnotdeductiblefortax | 4,556,855.71 |
| Theeffectofusingdeductiblelossesofdeferredincometaxassetsthathavenotbeenrecognisedinthepreviousperiod | -11,743,432.86 |
| Deductibletemporarydifferencesofdeferredincometaxassetsandtaxlossesnotrecognised | 6,403,699.03 |
| TaxpreferencessuchasR&Dexpensessuperdeduction | -70,353,207.66 |
| Effectonopeningdeferredtaxofchangeinthetaxrate | -745,794.90 |
| Incometaxexpenses | 317,011,002.31 |
Othernotes:
□Applicable√Notapplicable
77.Othercomprehensiveincome
√Applicable□NotapplicableFordetails,pleaserefertoSection10VII.57Othercomprehensiveincome
78.CashFlowStatementItems
(1)CashrelatingtooperatingactivitiesOthercashreceivedrelatingtooperatingactivities
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Amountincurredinthereportingperiod | Amountincurredinthepreviousperiod |
| Interestincome | 181,475,377.84 | 176,106,716.62 |
| Governmentsubsidy | 242,639,052.42 | 170,221,879.89 |
| Recoveryofengineeringclaims | 24,164,117.84 | |
| Liquidateddamageincome | 15,561,226.65 | 9,495,487.50 |
| Collectionofsecuritydepositandadvancepayment | 74,875,577.28 | 5,987,605.72 |
| Collectionofbilldeposits | 188,866,227.06 | |
| Others | 20,928,333.31 | 18,602,244.33 |
| Total | 724,345,794.56 | 404,578,051.90 |
Notestoothercashreceivedrelatingtooperatingactivities:
NoneOthercashpaidrelatingtooperatingactivities
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Amountincurredinthereportingperiod | Amountincurredinthepreviousperiod |
| AdministrativeexpensesandR&Dexpensespaidincash | 277,480,554.98 | 272,474,014.29 |
| Sellingexpensepaidincash | 258,934,286.79 | 201,212,849.54 |
| Paymentofbilldeposit | 150,254,422.39 | 79,544,463.13 |
| Bankservicechargepaid | 2,133,895.19 | 1,941,279.12 |
| Others | 25,176,224.34 | 11,816,296.94 |
| Total | 713,979,383.69 | 566,988,903.02 |
Notestoothercashpaidrelatingtooperatingactivities:
None
(2)CashrelatingtoinvestmentactivitiesCashreceivedrelatingtosignificantinvestingactivities
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Amountincurredinthereportingperiod | Amountincurredinthepreviousperiod |
| Recoveryfixeddepositoffinancialproducts | 3,798,013,400.00 | 1,148,910,000.00 |
| Total | 3,798,013,400.00 | 1,148,910,000.00 |
NotestocashreceivedrelatingtosignificantinvestingactivitiesNoneCashpaidrelatingtosignificantinvestingactivities
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Amountincurredinthereportingperiod | Amountincurredinthepreviousperiod |
| Purchaseoffinancialproductsandfixeddepositcertificates | 4,132,312,692.90 | 2,473,800,000.00 |
| Investmentsinassociates | 69,285,700.00 | 47,502,800.00 |
| Total | 4,201,598,392.90 | 2,521,302,800.00 |
NotestocashpaidrelatingtosignificantinvestingactivitiesNoneOthercashreceivedrelatingtoinvestingactivities
□Applicable√NotapplicableOthercashpaidrelatingtoinvestingactivities
□Applicable√Notapplicable
(3)CashrelatingtofinancingactivitiesOthercashreceivedrelatingtofinancingactivities
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Amountincurredinthereportingperiod | Amountincurredinthepreviousperiod |
| Recoveryofloandeposits | 511,250,000.00 | |
| Total | 511,250,000.00 |
Notestoothercashreceivedrelatingtofinancingactivities:
NoneOthercashpaidrelatingtofinancingactivities
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Amountincurredinthereportingperiod | Amountincurredinthepreviousperiod |
| Paymentofloandeposits | 511,250,000.00 | |
| Cashoutflowsrelatingtolongtermrentedassets | 6,080,091.35 | 6,204,858.42 |
| Repurchaseshares | 399,999,784.28 | |
| PurchaseoftheMinorityshareholders’equity | 5,137,857.00 | |
| Repurchaseofrestrictedshares | 1,074,780.00 | |
| Total | 412,292,512.63 | 517,454,858.42 |
Notestoothercashpaidrelatingtofinancingactivities:
NoneChangesinliabilitiesarisingfromfinancingactivities
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Item | Opening | Increaseincurrentperiod | Decreaseincurrentperiod | Endingbalance |
| balance | Cashchange | Non-cashchanges | Cashchange | Non-cashchanges | ||
| Short-termborrowings | 511,250,000.00 | 511,250,000.00 | 0.00 | |||
| Dividendspayable | 1,049,358,585.51 | 1,049,358,585.51 | 0.00 | |||
| Bondspayable(includingthoseduewithinoneyear) | 1,561,143,337.17 | 88,539,027.80 | 32,336.46 | 1,649,650,028.51 | ||
| Leaseliabilities(includingthoseduewithinoneyear) | 59,204,861.48 | 2,922,512.07 | 6,080,091.35 | 56,047,282.20 | ||
| Total | 570,454,861.48 | 1,561,143,337.17 | 1,140,820,125.38 | 1,566,688,676.86 | 32,336.46 | 1,705,697,310.71 |
(4)Descriptionofcashflowspresentedonanetbasis
□Applicable√Notapplicable
(5)Significantactivitiesandfinancialeffectsthatdonotinvolvecurrentcashreceiptsandpaymentsbutaffectthefinancialpositionoftheenterpriseormayaffectthecashflowoftheenterpriseinthefuture
□Applicable√Notapplicable
79.Notestothestatementofcashflows
(1)Notestothestatementofcashflows
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Supplementaryinformation | Amountinthereportingperiod | Amountinthepreviousperiod |
| 1.Reconciliationofprofittonetcashflowsfromoperatingactivities: | ||
| Netprofit | 1,896,346,951.61 | 1,872,542,828.78 |
| Plus:Provisionsforassetimpairment | 3,823,176.99 | 3,399,468.47 |
| Lossfromimpairmentofcredit | 15,472,032.67 | -18,855,144.03 |
| Depreciationoffixedassets,depletionofoilandgasasset,depreciationofproductivebiologicalasset | 293,631,996.36 | 213,431,999.00 |
| Amortizationofright-of-useassets | 8,653,838.43 | 9,032,240.71 |
| Depreciationandamortizationofinvestment | 20,853,907.54 | 15,941,635.01 |
| property | ||
| Amortizationofintangibleassets | 41,299,419.89 | 30,383,432.14 |
| Amortizationoflong-termprepaidexpenses | 23,093,373.50 | 18,353,328.15 |
| Loss(incomeisstatedin“-”)fromdisposaloffixedassets,intangibleassetsandotherlong-termassets | 5,183,529.06 | 5,584,963.80 |
| Lossonretirementsoffixedassets(profitisstatedwith“-”) | ||
| Lossfromchangeoffairvalue(profitisstatedwith“-”) | 17,226,650.77 | 12,120,000.00 |
| Financialexpenses(incomeisstatedwith“-”) | -213,832,837.26 | -196,253,286.61 |
| Investmentloss(incomeisstatedwith“-”) | 21,396,254.38 | 3,687,987.74 |
| Decreaseofthedeferredtaxasset(increaseisstatedwith“_”) | -80,345,569.85 | 4,820,369.66 |
| Increaseofdeferredtaxliability(decreaseisstatedwith“-”) | -4,023,197.17 | 13,948,230.53 |
| Decreaseofinventories(Increaseisstatedwith“-”) | 281,199,216.13 | -14,885,655.50 |
| Decreaseinreceivablesfromoperatingactivities(Increaseisstatedwith“-”) | -82,581,119.97 | 116,574,148.98 |
| Increaseinpayablesfromoperatingactivities(Decreaseisstatedwith“-”) | -550,594,554.10 | 2,846,422,709.33 |
| Share-basedpayments | 70,168,931.98 | 80,660,907.94 |
| Others | 97,304,232.94 | 34,543,952.84 |
| Netcashflowsarisingfromoperatingactivities | 1,864,276,233.90 | 5,051,454,116.94 |
| 2.Significantinvestmentandfinancingactivitieswithnocashincomeandexpensesinvolved: | ||
| Capitalconvertedfromliabilities | ||
| Convertiblecompanybondsduewithinayear | ||
| Fixedassetsunderfinancelease | ||
| 3.Netchangeincashandcashequivalents: | ||
| Endingcashbalance | 6,034,424,497.73 | 5,536,066,687.82 |
| Less:Openingbalanceofcash | 5,536,066,687.82 | 2,846,143,310.70 |
| Plus:Endingbalanceofcashequivalent | ||
| Less:Openingbalanceofcashequivalent | ||
| Netincreaseofcashandcashequivalents | 498,357,809.91 | 2,689,923,377.12 |
(2)Netcashpaidforacquisitionofsubsidiaryinthereportingperiod
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Amount | |
| Cashorcashequivalentspaidforbusinesscombinationsinthecurrentperiod | 9,554,782.42 |
| Less:CashandcashequivalentsheldbytheCompanyontheacquisitiondate | 43,059,124.33 |
| Netcashpaidtoacquiresubsidiaries | -33,504,341.91 |
Othernotes:
None
(3)Netcashreceivedfromdisposalofsubsidiaryinthereportingperiod
□Applicable√Notapplicable
(4)Compositionofcashandcashequivalents
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Endingbalance | Openingbalance |
| I.Cash | 6,034,424,497.73 | 5,536,066,687.82 |
| Including:Cashinstock | ||
| Bankdepositavailableforpaymentatanytime | 6,034,424,497.73 | 5,536,066,687.82 |
| Othermonetaryfundusedforpaymentatanytime | ||
| Duefromcentralbankavailableforpayment | ||
| Duefrombanks | ||
| Callloantobanks | ||
| II.Cashequivalents | ||
| Including:bondinvestmentduewithinthreemonths | ||
| III.Endingbalanceofcashandcashequivalents | 6,034,424,497.73 | 5,536,066,687.82 |
| Including：UseofrestrictedcashandcashequivalentsbytheparentcompanyorsubsidiarieswithintheGroup |
(5)Limitedscopeofusebutstillpresentedascashandcashequivalents
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Item | Currentamount | Reason |
| Currencyfunds | 628,724,982.33 | Pledgeforissuingbankacceptancedraft |
| Total | 628,724,982.33 | / |
(6)Currencyfundsoutofthescopeofcashandcashequivalents
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Item | Currentamount | Amountofpriorperiod | Reason |
| Billguaranteedeposits | 58,179,842.00 | 602,379,488.38 | Depositsandfrozenfundswithlongtermandweakliquidityexpectedtoexpire |
| Certificatesofdepositandinterestduewithinoneyear | 574,654,611.45 | 470,461,808.22 | |
| Judicialfrozenmonetaryfunds | 947,085.87 | ||
| Financialproductspurchased | 23,600,000.00 | ||
| Total | 632,834,453.45 | 1,097,388,382.47 | / |
Othernotes:
□Applicable√Notapplicable
80.Notestoitemsofstatementofchangeinowner’sequityNotetothedescriptionofitem“Others”andadjustedamountsforadjustingtheclosingbalanceofthepreviousyear:
□Applicable√Notapplicable
81.Foreigncurrencymonetaryitems
(1)Foreigncurrencymonetaryitems
√Applicable□Notapplicable
In:Yuan
| Item | Endingbalanceofforeigncurrency | Translationexchangerate | ClosingbalanceoftranslationinRMB |
| Currencyfunds | - | - | 57,463,879.61 |
| Including:USD | 8,113,267.20 | 7.0827 | 57,463,837.60 |
| EUR | |||
| HKD | 46.36 | 0.9062 | 42.01 |
| Tradereceivables | - | - | 57,396,204.90 |
| Including:USD | 8,024,547.55 | 7.0827 | 56,835,462.93 |
| EUR | 71,348.48 | 7.8592 | 560,741.97 |
| HKD | |||
| Otherpayables | - | - | 38,004.18 |
| Including:USD | 5,020.68 | 7.0827 | 35,559.97 |
| EUR | 311.00 | 7.8592 | 2,444.21 |
Othernotes:
None
(2)Notetooverseasoperatingentities,includingimportantoverseasoperatingentities,whichshouldbedisclosedaboutitsprincipalbusinessplace,functioncurrencyforbookkeepingandbasisforthechoice.Incaseofanychangeinfunctioncurrency,thecauseshouldbedisclosed.
□Applicable√Notapplicable
82.Leases
(1)Aslessee
√Applicable□NotapplicableVariableleasepaymentsnotincludedinthemeasurementofleaseliabilities
□Applicable√NotapplicableLeaseexpensesforshort-termleasesorlow-valueassetsthataresimplified
□Applicable√NotapplicableSaleandleasebacktransactionsandbasisofjudgment
□Applicable√NotapplicableTotalcashoutflowsrelatedtoleasesis10,024,978.61(Unit:Yuan(RMB))
(2)AslessorOperatingleasesaslessors
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Item | Rentalincome | Including:Incomerelatedtovariableleasepaymentsnotincludedinleasereceipts |
| Rentalofbuildings | 45,372,400.74 | |
| Total | 45,372,400.74 |
Financeleasesaslessors
□Applicable√NotapplicableReconciliationofundiscountedleasereceiptstonetleaseinvestments
□Applicable√NotapplicableUndiscountedleasereceiptsoverthenextfiveyears
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Item | Annualundiscountedleasereceipts | |
| Endingbalance | Openingbalance | |
| Within1year,inclusive | 38,931,449.25 | 21,123,816.81 |
| 1to2years,inclusive | 9,493,822.87 | 3,340,297.32 |
| 2to3years,inclusive | 1,870,400.00 | 675,340.00 |
| 3to4years,inclusive | 25,000.00 | 25,000.00 |
| 4to5years,inclusive | 25,000.00 | 25,000.00 |
| Over5years | 25,000.00 | |
| Totalundiscountedleasereceiptsafterfiveyears | 50,345,672.12 | 25,214,454.13 |
(3)Recogniseprofitorlossonsalesoffinanceleasesasamanufacturerordealer
□Applicable√NotapplicableOthernotes:
None
83.Others
□Applicable√Notapplicable
(1)PresentedbynatureofexpensesVIII.Researchanddevelopmentexpenditure
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Amountincurredinthereportingperiod | Amountincurredinthepreviousperiod |
| Employeebenefits | 265,547,642.84 | 212,768,918.62 |
| Depreciationandamortization | 112,408,208.42 | 71,713,991.80 |
| Professionalservicefees | 163,637,390.70 | 185,359,756.90 |
| Others | 47,873,979.56 | 36,842,370.69 |
| Total | 589,467,221.52 | 506,685,038.01 |
| Including:Expendituresforresearchanddevelopment | 589,467,221.52 | 506,685,038.01 |
| Capitalizedresearchanddevelopmentexpenditure |
Othernotes:
None
(2)Researchanddevelopmentexpenditureeligibleforcapitalization
□Applicable√NotapplicableSignificantcapitalizedresearchanddevelopmentprojects
□Applicable√Notapplicable
Provisionforimpairmentofdevelopmentexpenses
□Applicable√NotapplicableOthernotes:
None
(3)Importantoutsourcingresearchprojects
□Applicable√NotapplicableIX.Changesinscopeofconsolidation
1.Businesscombinationsnotundercommoncontrol
√Applicable□Notapplicable
(1)Businesscombinationsnotundercommoncontrolinthecurrentperiod
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Nameoftheacquire | Equityacquisitiondate | Costofequityacquisition | Equityacquisitionratio（%） | Equityacquisitionmethod | Purchasedate | Determinationbasisofpurchasedate | Revenuefromtheacquireefromtheacquisitiondatetotheendoftheperiod | Netprofitoftheacquireefromtheacquisitiondatetotheendoftheperiod | Cashflowoftheacquireefromtheacquisitiondatetotheendoftheperiod |
| GelingNewEnergy | May31,2023 | 52,565,148.52 | 60.01% | Acquisition | May31,2023 | Equitydelivery | 204,757,530.94 | 9,520,307.18 | 99,160,746.71 |
Othernotes:
InAugust2021,theCompanyacquired49.01%equityofGelingNewEnergyatRMB22,717,737.96yuan,andaccountedforitwithequitymethod.Asat31May2023,thecarryingamountofequityheldbytheGroupwasRMB38,383,319.85yuan.Onthatdate,theGroupacquired11%equityinterestinGelingNewEnergyataconsiderationofRMB9,554,782.42yuan,holdingatotalof60.01%equityinterestinGelingNewEnergy.
(2)Costofcombinationandgoodwill
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Consolidationcosts | GelingNewEnergy |
| --Cash | 9,554,782.42 |
| --Fairvalueofnon-cashassets | |
| --Fairvalueofdebtissuedorassumed | |
| --Fairvalueofequitysecuritiesissued |
| --Fairvalueofcontingentconsideration | |
| --Fairvalueofequityheldbeforetheacquisitiondateattheacquisitiondate | 43,010,366.10 |
| --Others | |
| Totalconsolidationcosts | 52,565,148.52 |
| Less:Shareoffairvalueofidentifiablenetassetsacquired | 52,664,651.06 |
| Amountofgoodwill/combinationcostlessthanfairvalueofidentifiablenetassetsacquired | -99,502.54 |
Determinationmethodoffairvalueofcombinationcost:
□Applicable√NotapplicableFulfillmentofperformancecommitments:
□Applicable√NotapplicableThemainreasonsfortheformationoflargegoodwill:
□Applicable√NotapplicableOthernotes:
None
(3)Identifiableassetsandliabilitiesoftheacquireeattheacquisitiondate
√Applicable□Notapplicable
Unit:Yuan(RMB)
| GelingNewEnergyTechnology(Shandong)Co.,Ltd. | ||
| Fairvalueatacquisitiondate | Carryingamountatacquisitiondate | |
| Assets: | ||
| Currentassets | 109,678,741.32 | 106,843,611.89 |
| Non-currentassets | 37,754,490.30 | 37,754,490.30 |
| Totalassets | 147,433,231.62 | 144,598,102.19 |
| Liabilities: | ||
| Currentliabilities | 59,667,004.70 | 59,667,004.70 |
| Totalliabilities | 59,667,004.70 | 59,667,004.70 |
| Netassets | 87,766,226.92 | 84,931,097.49 |
| Less:Minorityinterest | 35,101,575.86 | 33,967,682.85 |
| Netassetsacquired | 52,664,651.06 | 50,963,414.64 |
Determinationmethodoffairvalueofidentifiableassetsandliabilities:
Assetbasedvaluation
Contingentliabilitiesoftheacquireeassumedinabusinesscombination:
NoneOthernotes:
None
(4)GainsorlossesarisingfromremeasurementofequityheldbeforetheacquisitiondateatfairvalueWhethertherearetransactionsthatachievebusinesscombinationstepbystepthroughmultipletransactionsandobtaincontrolduringthereportingperiod
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Nameoftheacquiree | Acquisitiondateoftheoriginalequityheldbeforetheacquisitiondate | Acquisitionratiooforiginallyheldequitybeforeacquisitiondate(%) | Acquisitioncostoforiginallyheldequitybeforeacquisitiondate | Acquisitionmethodoforiginallyheldequitybeforeacquisitiondate | Bookvalueoforiginallyheldequitybeforetheacquisitiondateattheacquisitiondate | Fairvalueofpreviouslyheldequityatacquisitiondate | Gainsorlossesarisingfromremeasurementofpreviouslyheldequityatfairvaluebeforetheacquisitiondate | Determinationmethodandmainassumptionsofthefairvalueoftheoriginalequityheldbeforetheacquisitiondateontheacquisitiondate | Amountofothercomprehensiveincomerelatedtotheoriginalequityheldbeforetheacquisitiondatetransferredtoinvestmentincomeorretainedearnings |
| GelingNewEnergy | July2021 | 49% | 43,722,800.00 | Purchase | 38,383,319.85 | 43,010,366.10 | 4,627,046.25 | Assetbasedvaluation |
Othernotes:
None
(5)Descriptionofthecombinationconsiderationorfairvalueoftheacquiree'sidentifiableassetsandliabilitiesthatcannotbereasonablydeterminedontheacquisitiondateorattheendofthecurrentperiod
□Applicable√Notapplicable
(6)Othernotes
□Applicable√Notapplicable
2.Businesscombinationsundercommoncontrol
□Applicable√Notapplicable
3.ReversePurchase
□Applicable√Notapplicable
4.DisposalofsubsidiariesWhethertherearetransactionsoreventsthathavelostcontrolofsubsidiariesinthecurrentperiod
□Applicable√NotapplicableOthernotes:
□Applicable√NotapplicableWhetherthereisasituationinwhichtheinvestmentinasubsidiaryisdisposedofstepbystepthroughmultipletransactionsandthecontrolrightislostinthecurrentperiod
□Applicable√NotapplicableOthernotes:
□Applicable√Notapplicable
5.ChangesinscopeofconsolidationforotherreasonsExplainthechangesinthescopeofconsolidation(e.g.,newsubsidiaries,liquidationsubsidiaries,etc.)causedbyotherreasonsandrelevantinformation:
√Applicable□Notapplicable
| Nameofsubsidiary | Placeofregistration | Natureofbusiness | TotalshareholdingratiooftheCompany(%) | ProportionofvotingrightsenjoyedbytheCompany(%) | Reasonfornewsubsidiary |
| TianjinElectromechanical | Tianjin | manufacturingindustry | 100 | 100 | Newestablishment |
| YangjiangXiaoma | Guangdong | technicalservice | 100 | 100 | Newestablishment |
| AimaTaizhou | Zhejiang | Wholesaleandretail | 100 | 100 | Newestablishment |
| GuangxiXiaoma | Guangxi | technicalservice | 60 | 60 | Newestablishment |
| AimaElectricDrive | Zhejiang | Services | 100 | 100 | Newestablishmen |
| t | |||||
| VietnamAima | Vietnam | manufacturingindustry | 100 | 100 | Newestablishment |
| GelingNewEnergy | Shandong | manufacturingindustry | 60.01 | 60.01 | Acquisitionduringtheyear |
| Aiska | Zhejiang | Wholesaleandretail | 60.01 | 60.01 | Acquisitionduringtheyear |
| TianjinXiaoma | Tianjin | technicalservice | 100 | 100 | Newestablishment |
| WanningXiaoma | Hainan | technicalservice | 100 | 100 | Newestablishment |
| IndonesiaAima | Indonesia | manufacturingindustry | 100 | 100 | Newestablishment |
| AimaNanfang | Jiangsu | Wholesaleandretail | 100 | 100 | cancellation |
| TaizhouXiaoma | Zhejiang | technicalservice | 100 | 100 | Newestablishment |
| AimaLianxiang | Tianjin | manufacturingindustry | 51 | 51 | Newestablishment |
| AimaShengsituo | Tianjin | manufacturingindustry | 51 | 51 | Newestablishment |
Note:Aiskaisawholly-ownedsubsidiaryofGelingNewEnergy.
6.Others
□Applicable√Notapplicable
X.Interestsinotherentities
1.Interestsinsubsidiaries
(1)Compositionoftheenterprisegroup
√Applicable□Notapplicable
Unit:TenThousandYuan(RMB)
| SubsidiaryName | Principalplaceof | Registeredcapital | Placeofregistration | Natureofbusiness | Shareholdingratio(%) | ObtainMode |
| business | Direct | Indirect | |||||
| TianjinVehicle | Tianjin | 10,000.00 | Tianjin | Manufacture | 100 | Establishment | |
| HenanVehicle | Henan | 10,000.00 | Henan | Manufacture | 100 | Establishment | |
| JiangsuVehicle | Jiangsu | 44,000.00 | Jiangsu | Manufacture | 100 | Establishment | |
| GuangdongVehicle | Guangdong | 10,000.00 | Guangdong | Manufacture | 100 | Establishment | |
| ZhejiangVehicle | Zhejiang | 10,000.00 | Zhejiang | Manufacture | 100 | Establishment | |
| XiaopaElectric | Shanghai | 200.00 | Shanghai | Services | 100 | Establishment | |
| TianjinSports | Tianjin | 1,000.00 | Tianjin | Manufacture | 100 | Establishment | |
| XiaomaNetwork | Chongqing | 1,000.00 | Chongqing | Wholesaleandretail | 100 | Establishment | |
| Spozman | Tianjin | 1,000.00 | Tianjin | Manufacture | 100 | Establishment | |
| GuangxiVehicle | Guangxi | 10,000.00 | Guangxi | Manufacture | 100 | Establishment | |
| TianjinTianli | Tianjin | 500.00 | Tianjin | Manufacture | 100 | Establishment | |
| AimaChongqing | Chongqing | 1,000.00 | Chongqing | Wholesaleandretail | 100 | Establishment | |
| ChongqingVehicle | Chongqing | 10,000.00 | Chongqing | Manufacture | 100 | Establishment | |
| ZhejiangSales | Zhejiang | 1,000.00 | Zhejiang | Manufacture | 100 | Establishment | |
| TaizhouManufacture | Zhejiang | 40,000.00 | Zhejiang | Manufacture | 100 | Establishment | |
| AimaVentureCapital | Zhejiang | 3,000.00 | Zhejiang | Investmentplatform | 100 | Establishment | |
| LishuiVehicle | Zhejiang | 10,000.00 | Zhejiang | Manufacture | 100 | Establishment | |
| SuotengTechnology | HongKong | HK$63million | HongKong | Wholesaleandretail | 100 | Establishment | |
| AimaSingapore | Singapore | S$1000 | Singapore | Wholesaleandretail | 100 | Establishment | |
| ChongqingElectromechanical | Chongqing | 5,000.00 | Chongqing | Manufacture | 100 | Establishment | |
| XiaomaIntelligence | Chongqing | 5,000.00 | Chongqing | Technicalservice | 100 | Establishment | |
| AimaVehicleService | Chongqing | 5,000.00 | Chongqing | Wholesaleandretail | 100 | Establishment | |
| AimaLogistics | Chongqing | 5,000.00 | Chongqing | Logistics | 55 | Establishment | |
| SuperUniverse | Chongqing | 2,000.00 | Chongqing | Wholesaleandretail | 100 | Establishment | |
| TianjinElectromechanical | Tianjin | 5,000.00 | Tianjin | Manufacture | 100 | Establishment | |
| AimaTaizhou | Zhejiang | 1,000.00 | Zhejiang | Wholesaleandretail | 100 | Establishment | |
| GuangxiXiaoma | Guangxi | 5,000.00 | Guangxi | Technicalservice | 60 | Establishment |
| AimaElectricDrive | Zhejiang | 6,000.00 | Zhejiang | Services | 100 | Establishment | |
| VietnamAima | Vietnam | VND190,440million | Vietnam | Manufacture | 100 | Establishment | |
| GelingNewEnergy | Shandong | 8,922.00 | Shandong | Manufacture | 60.01 | Consolidationnotundercommoncontrol | |
| Aiska | Zhejiang | 1,000.00 | Zhejiang | Wholesaleandretail | 60.01 | Consolidationnotundercommoncontrol | |
| TianjinXiaoma | Tianjin | 1,000.00 | Tianjin | Technicalservice | 100 | Establishment | |
| WanningXiaoma | Hainan | 2,000.00 | Hainan | Technicalservice | 100 | Establishment | |
| IndonesiaAima | Indonesia | IDR169,543million | Indonesia | Manufacture | 100 | Establishment | |
| Suiwanwan | Tianjin | 500.00 | Tianjin | Services | 100 | Consolidationundercommoncontrol | |
| YangjiangXiaoma | Guangdong | 50.00 | Guangdong | Technicalservice | 100 | Establishment | |
| TaizhouXiaoma | Zhejiang | 700.00 | Zhejiang | Services | 100 | Establishment | |
| AimaShengsituo | Tianjin | 500.00 | Tianjin | Manufacture | 51 | Establishment | |
| AimaLianxiang | Tianjin | 1,000.00 | Tianjin | Manufacture | 51 | Establishment |
Descriptionofthedifferencebetweenshareholdingratioandvotingrightratioinsubsidiaries:
NoneThebasisforholdinghalforlessofthevotingrightsbutstillcontrollingtheinvesteeandholdingmorethanhalfofthevotingrightsbutnotcontrollingtheinvestee:
NoneForsignificantstructuredentitiesincludedinthescopeofconsolidation,thebasisofcontrolisasfollows:
NoneBasisfordeterminingwhetherthecompanyisanagentoraprincipal:
NoneOthernotes:
None
(1)Significantnon-whollyownedsubsidiaries
□Applicable√Notapplicable
(2)Keyfinancialinformationofsignificantnon-whollyownedsubsidiaries
□Applicable√Notapplicable
(3)Significantrestrictionsontheuseofenterprisegroupassetsandthesettlementofenterprisegroupdebts
□Applicable√Notapplicable
(4)Financialorothersupportprovidedtostructuredentitiesincludedinthescopeofconsolidatedfinancialstatements
□Applicable√NotapplicableOthernotes:
□Applicable√Notapplicable
2.Transactionsinwhichtheshareofowner'sequityinasubsidiarychangesandthesubsidiaryisstillcontrolled
√Applicable□Notapplicable
(1)Descriptionofchangesinowners'equityinsubsidiaries
√Applicable□NotapplicableInNovember2023,theCompanyacquired22%and5%ofSpozman'sequityfromtheminorityshareholdersZhuYuandLiYuanforatotalconsiderationofRMB5,137,857.00yuan.Uponcompletionoftheacquisition,theGroupholds100%equityinterestinSpozman.Asaresultofthistransaction,theminorityinterestintheconsolidatedfinancialstatementsdecreasedbyRMB5,444,108.84yuanandthecapitalreserveincreasedbyRMB306,251.85yuan.
(2)EffectoftransactionsonMinorityshareholders’equityandowners'equityattributabletotheparentcompany
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Spozman | |
| Acquisitioncost/disposalconsideration | 5,137,857.00 |
| --Cash | 5,137,857.00 |
| --Fairvalueofnon-cashassets | |
| Totalpurchasecost/disposalconsideration | 5,137,857.00 |
| Less:Shareofnetassetsofsubsidiariescalculatedbasedontheproportionofequity | 5,444,108.84 |
| acquired/disposed | |
| difference | -306,251.84 |
| Including:Adjustmentofcapitalreserve | 306,251.84 |
| Adjustmentofsurplusreserve | |
| Adjustedretainedearnings |
Othernotes
□Applicable√Notapplicable
3.Interestsinjointventuresorassociates
√Applicable□Notapplicable
(1)Significantjointventuresorassociates
√Applicable□Notapplicable
| Nameofjointventureorassociate | Principalplaceofbusiness | Placeofregistration | Natureofbusiness | Shareholdingratio(%) | Accountingforinvestmentsinjointventuresorassociates | |
| Direct | Indirect | |||||
| TodaySunshine | Zhejiang | Zhejiang | Manufacturingindustry | 10.42 | Equitymethod | |
| TianjinJiema | Tianjin | Tianjin | Manufacturingindustry | 40.00 | Equitymethod | |
| TaizhouJinfu | Zhejiang | Zhejiang | Venturecapital | 55.90 | Equitymethod | |
| BeijingZhongzhong | Beijing | Beijing | Services | 38.00 | Equitymethod | |
| ChongqingXintai | Chongqing | Chongqing | Manufacturingindustry | 35.00 | Equitymethod | |
| GuangxiNingfu | Guangxi | Guangxi | Manufacturingindustry | 1.97 | Equitymethod | |
Descriptionofthedifferencebetweenshareholdingratioandvotingrightratioinjointventuresorassociates:
AccordingtotheTaizhouJinfuPartnershipAgreement,asoneofthelimitedpartners,theCompanyhasnorighttounilaterallydeterminetherelevantactivitiesofthePartnership,soitdoesnotcontrolTaizhouJinfu,buthasasignificantimpactonit.Thebasisforholdinglessthan20%ofthevotingrightsbuthavingsignificantinfluence,orholding20%ormoreofthevotingrightsbutnothavingsignificantinfluence:
AccordingtoTodaySunshine'sarticlesofassociation,theCompanyhastherighttoappointdirectorstoitsboardofdirectors,andaccordinglyhastherighttoparticipateinthedecision-makingofitsfinancialandoperatingdecisions,therebyexertingsignificantinfluenceonit.
Accordingtotheresolutionoftheshareholders'meetingofGuangxiNingfu,theCompanyappointsdirectorstoitsboardofdirectors,andaccordinglyhastherighttoparticipateinthedecision-makingofitsfinancialandoperatingdecisions,thusexertingsignificantinfluenceonit.
(2)Keyfinancialinformationofsignificantjointventures
□Applicable√Notapplicable
(3)Keyfinancialinformationofsignificantassociates
□Applicable√Notapplicable
(4)Summaryfinancialinformationofinsignificantjointventuresandassociates
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Closingbalance/amountincurredinthecurrentperiod | Openingbalance/amountincurredinpriorperiod | |
| Jointventure: | ||
| Totalcarryingamountofinvestments | ||
| Totalofthefollowingitemscalculatedbyshareholdingratio | ||
| --Netprofit | ||
| --Othercomprehensiveincome | ||
| --Totalcomprehensiveincome | ||
| Associates: | ||
| Totalcarryingamountofinvestments | 127,263,995.91 | 128,152,070.40 |
| Totalofthefollowingitemscalculatedbyshareholdingratio | ||
| --Netprofit | -28,590,454.64 | -21,624,009.83 |
| --Othercomprehensiveincome | ||
| --Totalcomprehensiveincome | ||
OthernotesNone
(5)DescriptionofsignificantrestrictionsontheabilityofjointventuresorassociatestotransferfundstotheCompany
□Applicable√Notapplicable
(6)Excesslossesofjointventuresorassociates
□Applicable√Notapplicable
(7)Unrecognizedcommitmentsrelatedtoinvestmentsinjointventures
□Applicable√Notapplicable
(8)Contingentliabilitiesrelatedtoinvestmentsinjointventuresorassociates
□Applicable√Notapplicable
4.Significantjointoperations
□Applicable√Notapplicable
5.InterestsinstructuredentitiesnotincludedinthescopeofconsolidatedfinancialstatementsDescriptionofstructuredentitiesnotincludedinthescopeofconsolidatedfinancialstatements:
□Applicable√Notapplicable
6.Others
□Applicable√NotapplicableX.GovernmentGrants
1.Governmentgrantsrecognizedatamountsreceivableattheendofthereportingperiod
□Applicable√NotapplicableReasonsforfailingtoreceivetheestimatedamountofgovernmentsubsidiesattheestimatedtimepoint
□Applicable√Notapplicable
2.Liabilitiesrelatedtogovernmentgrants
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Financialstatementitems | Openingbalance | Amountofnewsubsidiesinthecurrentperiod | Amountincludedinnon-operatingincomeinthecurrentperiod | Transfertootherincomeinthecurrentperiod | Otherchangesinthecurrentperiod | Endingbalance | Relatedtoassets/income |
| Deferredincome | 198,066,664.29 | 106,434,406.51 | 12,068,670.24 | 292,432,400.56 | Asset-related | ||
| Total | 198,066,664.29 | 106,434,406.51 | 12,068,670.24 | 292,432,400.56 | / |
3.Governmentgrantsrecognizedinprofitorloss
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Type | Amountincurredinthecurrentperiod | Amountincurredinpriorperiod |
| Asset-related | 12,068,670.24 | 9,937,776.17 |
| Relatedtoincome | 130,155,855.76 | 68,130,688.64 |
| Other | 6,048,790.15 | 12,908,508.78 |
| Total | 148,273,316.15 | 90,976,973.59 |
Othernotes:
NoneXI.RisksRelatedtoFinancialInstruments
1.Risksoffinancialinstruments
√Applicable□NotapplicableTheCompanyisexposedtovariousrisksoffinancialinstrumentsinitsdailyactivities,mainlyincludingcreditrisk,liquidityriskandmarketrisk.TheCompany'smainfinancialinstrumentsincludecurrencyfunds,accountsreceivable,receivablesfinancing,notespayableandaccountspayable.TherisksassociatedwiththesefinancialinstrumentsandtheriskmanagementstrategiesadoptedbytheCompanytomitigatetheserisksaredescribedbelow.
(1)CreditriskTheCompanyonlydealswithrecognizedandreputablethirdparties.InaccordancewiththeCompany'spolicy,acreditreviewisrequiredforallcustomerswhorequirecredittransactions.Inaddition,theCompanycontinuouslymonitorsthebalanceofaccountsreceivabletoensurethattheCompanyisnotexposedtosignificantbaddebtrisks.Fortransactionsnotsettledinthefunctionalcurrencyoftherelevantbusinessunit,theCompanydoesnotprovidecredittransactionconditionsunlessspecificallyapprovedbytheCompany'screditcontroldepartment.Asthecounterpartiesofmonetaryfunds,financialassetsheldfortrading,receivablesfinancing,othernon-currentassetsandcertificatesofdepositduewithinoneyeararebankswithgoodreputationandhighcreditrating,thesefinancialinstrumentshavelowcreditrisk.TheCompany'sotherfinancialassetsincludeaccountsreceivableandotherreceivables.Thecreditriskofthesefinancialassetsarisesfromthedefaultofthecounterparty,andthemaximumriskexposureisequaltothecarryingamountoftheseinstruments.SincetheCompanyonlydealswithrecognizedandreputablethirdparties,nocollateralisrequired.Creditriskiscentrallymanagedbycustomer/counterparty,geographicalregionandindustry.ThereisnosignificantconcentrationofcreditriskwithintheCompanyasthe
Company'saccountsreceivablearewidelydispersedacrossthecustomerbase.ForthequantitativedataoftheCompany'screditriskexposurearisingfromnotesreceivable,accountsreceivableandotherreceivables,pleasereferto"SectionVII.5Accountsreceivable"and"SectionVII.9Otherreceivables".
(2)LiquidityriskTheCompany'sobjectiveistouseavarietyoffinancingmeanstomaintainthebalancebetweensustainabilityandflexibilityoffinancing.TheCompanyfinancesitsoperationsthroughfundsgeneratedfromoperationsandborrowings.Thefollowingtablesummarizesthematurityanalysisoffinancialliabilitiesbasedonundiscountedcontractualcashflows:
December31,2023
| Financialliabilities | Within1year | 1to2years | 2to3years | Over3years | Total |
| Notespayable | 6,032,204,440.66 | 6,032,204,440.66 | |||
| Tradepayables | 2,459,299,045.99 | 2,459,299,045.99 | |||
| Otherpayables | 628,111,216.14 | 628,111,216.14 | |||
| Leaseliabilities | 7,398,165.14 | 7,398,165.14 | 42,276,291.85 | 57,072,622.13 | |
| Non-currentliabilitiesduewithinoneyear | 20,179,767.71 | 20,179,767.71 | |||
| Bondspayable | 5,999,880.00 | 9,999,800.00 | 19,999,600.00 | 2,265,954,680.00 | 2,301,953,960.00 |
| Total | 9,145,794,350.50 | 17,397,965.14 | 27,397,765.14 | 2,308,230,971.85 | 11,498,821,052.63 |
(3)MarketriskTheCompanyisexposedtotransactionalexchangeraterisk.Suchrisksarisefromsalesorpurchasesmadebyanoperatingunitinacurrencyotherthanitsfunctionalcurrency.AstheamountoftheCompany'sforeigncurrencybusinessisnotsignificant,theCompanybelievesthatchangesinforeignexchangerateswillnothaveasignificantimpactontheCompany'sfinancialstatements.
2.Hedging
(1)TheCompanyconductshedgingbusinessforriskmanagement
□Applicable√NotapplicableOthernotes
□Applicable√Notapplicable
(2)TheCompanyconductsqualifyinghedgingbusinessandapplieshedgeaccounting
□Applicable√NotapplicableOthernotes
□Applicable√Notapplicable
(3)TheCompanycarriesouthedgingbusinessforriskmanagementandexpectstoachieveriskmanagementobjectivesbutdoesnotapplyhedgeaccounting
□Applicable√NotapplicableOthernotes
□Applicable√Notapplicable
3.Transferoffinancialassets
(1)TransferMethodClassification
□Applicable√Notapplicable
(2)Financialassetsderecognisedasaresultoftransfer
□Applicable√Notapplicable
(3)Transferredfinancialassetswithcontinuinginvolvement
□Applicable√NotapplicableOthernotes
□Applicable√NotapplicableXII.DisclosureofFairValue
1.Fairvalueattheendofthereportingperiodoftheassetsandliabilitiesmeasuredbasedonthefairvalue
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Fairvalueattheendofthereportingperiod | |||
| Level1fairvaluemeasurement | Level2fairvaluemeasurement | Level3fairvaluemeasurement | Total | |
| I.Continuousfairvaluemeasurement | 176,041,430.92 | 8,893,241.61 | 184,934,672.53 | |
| (I)Financialassetsheldfor | 176,041,430.92 | 176,041,430.92 | ||
| trading | ||||
| 1.Financialassetsatfairvaluethroughprofitorloss | 176,041,430.92 | 176,041,430.92 | ||
| (1)Debtinstrumentinvestment | ||||
| (2)Equityinstrumentinvestment | ||||
| (3)Derivativefinancialassets | ||||
| 2.Financialassetsdesignatedatfairvaluethroughprofitorloss | ||||
| (1)Debtinstrumentinvestment | ||||
| (2)Equityinstrumentinvestment | ||||
| (II)Otherdebtinvestment | ||||
| (III)Otherequityinstrumentinvestment | ||||
| (IV)Investmentproperties | ||||
| 1.Landuserightforleasepurpose | ||||
| 2.Leasedbuildings | ||||
| 3.Thelanduserightheldandtobeassignedafterappreciation. | ||||
| (V)Biologicalassets | ||||
| 1.Consumablebiologicalasset | ||||
| 2.Productivebiologicalasset | ||||
| (VI)Receivablesfinancing | 8,893,241.61 | 8,893,241.61 | ||
| Totalassetsmeasuredbasedonfairvalue | 176,041,430.92 | 8,893,241.61 | 184,934,672.53 | |
| (VI)Financialliabilitiesheldfortrading | ||||
| 1.Financialliabilitiesatfairvaluethroughprofitorloss | ||||
| Where:Issuedtransactionalbonds | ||||
| Derivativefinancialliabilities | ||||
| Others | ||||
| 2.Financialliabilitiesdesignatedatfairvaluethroughprofitorloss |
| Totalliabilitiescontinuouslymeasuredbasedonfairvalue |
| II.Non-continuousfairvaluemeasurement |
| (I)Held-for-saleassets |
| Totalassetsnon-continuouslymeasuredbasedonfairvalue |
| Totalliabilitiesnon-continuouslymeasuredbasedonfairvalue |
2.Basisfordeterminingthemarketpriceoftheitemsmeasuredbasedonthecontinuousandnon-continuousfirstlevelfairvalue
□Applicable√Notapplicable
3.Itemsmeasuredbasedonthecontinuousornon-continuous2ndlevelfairvalue,valuationtechniqueasused,natureofimportantparametersandquantitativeinformation
□Applicable√Notapplicable
4.Itemsmeasuredbasedonthecontinuousornon-continuous3rdlevelfairvalue,valuationtechniqueasused,natureofimportantparametersandquantitativeinformation
□Applicable√Notapplicable
5.Itemsmeasuredbasedonthecontinuous3rdlevelfairvalue,sensitivityanalysisonadjustedinformationandunobservableparametersbetweenthebookvalueatbeginningandendoftheperiod
□Applicable√Notapplicable
6.Incaseitemsmeasuredbasedonfairvalueareconvertedbetweendifferentlevelsincurredinthereportingperiod,statethecauseofconversionanddetermineconversiontimepoint
□Applicable√Notapplicable
7.Changeofvaluationtechniqueincurredinthereportingperiodandcauseofsuchchange
□Applicable√Notapplicable
8.Fairvalueoffinancialassetsandfinancialliabilitiesnotmeasuredatfairvalue
□Applicable√Notapplicable
9.Others
□Applicable√NotapplicableXIV.Relatedpartiesandtransactions
1.AbouttheParentCompany
□Applicable√Notapplicable
2.TheCompany'ssubsidiariesRefertotheNotesfordetailsoftheCompany'ssubsidiaries
√Applicable□NotapplicableFordetailsoftheCompany'ssubsidiaries,pleasereferto“Section10.1Equityinsubsidiaries”.
3.JointventuresandassociatesoftheCompanyRefertotheNotesfordetailsoftheCompany'smajorjointventuresorassociates
√Applicable□NotapplicablePleaserefertoSection10“VII.17Long-termEquityInvestments”and“X.3EquityinJointVenturesorAssociates”fortheimportantjointventuresorassociatesoftheCompany.Otherjointventuresorassociatesthathadrelated-partytransactionswiththeCompanyinthereportingperiod,orhadrelated-partytransactionswiththeCompanyinthepreviousperiodandformedabalanceareasfollows
√Applicable□Notapplicable
| Nameofjointventureorassociate | RelationshipwiththeCompany |
| BeijingZhongzhongTravelTechnologyCo.,Ltd. | Anassociate |
| TianjinJiemaElectricTechnologyCo.,Ltd. | Anassociateinwhichthecontrollingshareholderactsasadirector |
Othernotes
□Applicable√Notapplicable
4.Otherrelatedparties
√Applicable□Notapplicable
| Namesofotherrelatedparties | RelationshipbetweenotherrelatedpartiesandtheCompany |
| ShandongAidebangIntelligent | Ajointstockcompanyofanassociate |
| TechnologyCo.,Ltd. | |
| TaizhouAidebangIntelligentTechnologyCo.,Ltd. | Subsidiaryofajointstockcompanyofanassociate |
| TianjinMagicSquareTravelTechnologyCo.,Ltd. | Subsidiaryofanassociate |
| TianjinXintaiPrecisionTechnologyCo.,Ltd. | Subsidiaryofanassociate |
| ShangqiuYichongTradingCo.,Ltd. | Enterprisescontrolledbyclosefamilymembersofdirectors |
| ShandongZhidouAutomobileSalesCo.,Ltd. | Subsidiariesofcompaniesofwhichthecontrollingshareholderisadirector |
| GelingNewEnergyTechnology(Shandong)Co.,Ltd. | Originalassociates |
| DuanHua | Director、vicegeneralmanager,thecontrollingshareholder’sspouse |
Othernotes:
AsofMay31,2023,theGroupacquiredan11%equityinterestinGelingNewEnergyforRMB9,554,782.42yuan,holdingatotalof60.01%equityinterestinGelingNewEnergy,whichwastransferredfromanassociateoftheGrouptoaholdingsubsidiaryoftheGroup.
5.Related-partytransactions
(1)Related-partytransactionsofpurchaseandsaleofcommoditiesandsupplyandacceptanceoflaborservicesStatementofpurchaseofcommoditiesandacceptanceoflaborservices
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Relatedparties | Descriptionofrelated-partytransactions | Amountincurredinthereportingperiod | Amountofapprovedtransactions(ifapplicable) | Whetherthetransactionamountisexceeded(ifapplicable) | Amountincurredinthepreviousperiod |
| TianjinJiemaElectricTechnologyCo.,Ltd | Purchaseofrawmaterials、service | 7,930,676.55 | 30,000,000.00 | No | 6,917,694.49 |
| ShandongAidebangIntelligentTechnologyCo.,Ltd. | Purchaseofrawmaterials | 1,166,963.01 | N/A | 53,999,230.71 |
| TaizhouAidebangIntelligentTechnologyCo.,Ltd. | Purchaseofrawmaterials、service | 53,487,247.61 | N/A | 120,959,079.64 | |
| GelingNewEnergyTechnology(Shandong)Co.,Ltd. | Purchaseofrawmaterials | 56,846.20 | N/A | 24,803,224.66 | |
| ShangqiuYichongTradingCo.,Ltd | Purchaseofrawmaterials | 37,256,254.81 | 45,000,000.00 | No | 18,974,739.23 |
| TianjinXintaiPrecisionTechnologyCo.,Ltd | Purchaseofrawmaterials | 6,868,850.94 | N/A | ||
| Total | 106,766,839.12 | 225,653,968.73 |
Statementofsalesofgoods/supplyofservices
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Relatedparty | Descriptionofrelated-partytransactions | Amountincurredinthereportingperiod | Amountincurredinthepreviousperiod |
| TianjinJiemaElectricTechnologyCo.,Ltd | Supplyofservices | 897,280.36 | 400,633.54 |
| BeijingZhongzhongTravelTechnologyCo.,Ltd. | Salesofgoods | 5,309.73 | 3,565,572.70 |
| GelingNewEnergyTechnology(Shandong)Co.,Ltd. | Salesofgoodsandsupplyofservices | 3,886,720.43 | 30,758,228.37 |
| TianjinMagicSquareTravelTechnologyCo.,Ltd. | Salesofgoods | 10,318,512.40 | 1,653,539.83 |
| Total | 15,107,822.92 | 36,377,974.44 |
Notetorelated-partytransactionsofpurchaseandsaleofcommoditiesandsupplyandacceptanceoflaborservices
√Applicable□NotapplicableAsofDecember29,2022,thethirdmeetingofthefifthboardofdirectorsofthecompany
decidedtoconsiderandadopttheBillontheForecastofDailyRelatedPartyTransactionsoftheCompanyandSubsidiariesin2023.Fordetails,pleaserefertotherelevantannouncementdisclosedonthewebsiteofShanghaiStockExchangeonDecember30,2022.
(2)Relatedentrustedmanagement/contractedandmandatorymanagement/contractingStatementoftheCompany'sentrustedmanagement/contracting:
□Applicable√NotapplicableRelatedentrustedmanagement/contracting
□Applicable√NotapplicableStatementoftheCompany'sentrustedmanagement/outsourcing
□Applicable√NotapplicableRelatedmanagement/outsourcing
□Applicable√Notapplicable
(3)Related-partyleaseTheCompanyaslessor:
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Namesoflessee | Categoriesofleaseholdproperties | Rentalincomerecognisedinthereportingperiod | Rentalincomerecognisedinthepreviousperiod |
| TianjinJiemaElectricTechnologyCo.,Ltd. | Propertylease | 8,993,986.50 | 5,795,080.18 |
| TianjinMagicSquareTravelTechnologyCo.,Ltd. | Propertylease | 4,364.49 | |
| TianjinXintaiPrecisionTechnologyCo.,Ltd | Propertylease | 756,661.26 | |
| Total | 9,755,012.25 | 5,795,080.18 |
TheCompanyaslessee:
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Namesoflessor | Categoriesofleaseholdproperties | Rentalchargesforstreamlinedshort-termleasesandleasesoflow-valueassets(ifapplicable) | Variableleasepaymentsnotincludedinthemeasurementoftheleaseliability(ifapplicable) | Rentpaid | Interestexpenseonleaseliabilitiesassumed | Increasedright-to-useassets | |||||
| Amountincurredinthereportingperiod | Amountincurredinthepreviousperiod | Amountincurredinthereportingperiod | Amountincurredinthepreviousperiod | Amountincurredinthereportingperiod | Amountincurredinthepreviousperiod | Amountincurredinthereportingperiod | Amountincurredinthepreviousperiod | Amountincurredinthereportingperiod | Amountincurredinthepreviousperiod | ||
| DuanHua | Propertylease | 4,761,904.76 | 4,761,904.76 | 206,224.30 | 412,806.47 | ||||||
Relatedlease
□Applicable√Notapplicable
(4)RelatedguaranteeTheCompanyasaguarantor
□Applicable√NotapplicableTheCompanyasaguarantee
□Applicable√NotapplicableNotetorelatedguarantee
□Applicable√Notapplicable
(5)Borrowingsandlendingsamongrelatedparties
□Applicable√Notapplicable
(6)Assetsassignmentandliabilitiesreorganizationofrelatedparties
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Relatedparty | Descriptionofrelated-partytransactions | Amountincurredinthereportingperiod | Amountincurredinthepreviousperiod |
| TianjinJiemaElectricTechnologyCo.,Ltd | Purchaseoffixedassets | 372,721.24 | |
| TaizhouAidebangIntelligentTechnologyCo.,Ltd | Purchaseofintangibleassets | 382,300.88 | |
| TianjinJiemaElectricTechnologyCo.,Ltd | Saleoffixedassets | 26,548.67 | |
| GelingNewEnergyTechnology(Shandong)Co.,Ltd. | Saleoffixedassets | 11,277,349.19 |
(7)Remunerationtoseniorexecutives
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Amountincurredinthereportingperiod | Amountincurredinthepreviousperiod |
| Remunerationtoseniorexecutives | 39,257,367.09 | 54,784,735.46 |
In2023,thetotalremunerationofkeymanagementpersonneloftheCompany(including
monetary,physicalandotherforms)wasRMB39,257,367.09yuan(2022:RMB54,784,735.46yuan).Amongthem,therelatedexpensesofkeymanagementpersonnelcorrespondingtothetotalexpensesrecognizedthroughamortizationofshare-basedpaymentinthecurrentyearareRMB16,562,409.03yuan(2022:RMB28,497,920.00yuan).
(8)Otherrelated-partytransactions
√Applicable□NotapplicableFromJanuarytoDecember2023,theGroupreceivedatotaldividendofRMB3,200,000.00yuanfromTianjinJiemaElectricTechnologyCo.,Ltd.(FromJanuarytoDecember2022:RMB2,800,000.00yuan).
| Relatedparty | Relatedpartytransactions | Amountincurredinthereportingperiod | Amountincurredinthepreviousperiod |
| TianjinJiemaElectricTechnologyCo.,Ltd | Dividends | 3,200,000.00 | 2,800,000.00 |
6.Outstandingaccountsreceivablefromandpayabletorelatedparties
(1)Receivables
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Description | Relatedparty | Endingbalance | Openingbalance | ||
| Bookbalance | Baddebtreserve | Bookbalance | Baddebtreserve | ||
| Prepayment | TaizhouAidebangIntelligentTechnologyCo.,Ltd | 243,116.36 | |||
| Prepayment | TianjinJiemaElectricTechnologyCo.,Ltd. | 9,469.19 | |||
| Otherreceivables | TianjinJiemaElectricTechnologyCo.,Ltd. | 420,563.17 | 291,482.00 | ||
| Otherreceivables | ShandongZhidouAutomobileSalesCo.,Ltd | 23,567.11 | |||
| Other | GelingNew | 4,821,488.81 | |||
| receivables | EnergyTechnology(Shandong)Co.,Ltd. | |||
| Otherreceivables | DuanHua | 450,000.00 | 450,000.00 |
(5)Payables
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Entryname | Relatedparties | Endingbookbalance | Openingbookbalance |
| Tradepayables | TianjinJiemaElectrictechnologyCo.,Ltd. | 43,543.94 | 1,162,195.26 |
| Tradepayables | TaizhouAidebangIntelligenttechnologyCo.,Ltd. | 62,033.43 | 1,103,656.70 |
| Tradepayables | ShangqiuYichongTradingCo.,Ltd. | 8,269,086.54 | 14,031,638.68 |
| Tradepayables | ShandongAidebangIntelligentTechnologyCo.,Ltd. | 218,650.44 | 22,567.50 |
| Tradepayables | TianjinXintaiPrecisionTechnologyCo.,Ltd. | 4,533,421.33 | |
| Tradepayables | GelingNewEnergyTechnology(Shandong)Co.,Ltd. | 1,606,049.08 | |
| Contractliabilities | BeijingZhongzhongTravelTechnologyCo.,Ltd. | 2,858.22 | 8,167.96 |
| Contractliabilities | TianjinMagicSquareTravelTechnologyCo.,Ltd. | 9,192.04 | 3,729,203.54 |
| Othercurrentliabilities | BeijingZhongzhongTravelTechnologyCo.,Ltd. | 371.57 | 1,061.83 |
| Othercurrentliabilities | TianjinMagicSquareTravelTechnologyCo.,Ltd. | 1,194.96 | 484,796.46 |
| Advancesfromcustomers | TianjinJiemaElectricTechnologyCo.,Ltd | 2,929,788.26 | 2,439,875.78 |
| Advancesfromcustomers | TianjinMagicSquareTravelTechnologyCo.,Ltd. | 26,186.93 | |
| Advancesfromcustomers | TianjinXintaiPrecisionTechnologyCo.,Ltd. | 174,099.21 | |
| Otherpayables | ShangqiuYichongTradingCo.,Ltd. | 100,000.00 | 50,000.00 |
| Otherpayables | TianjinJiemaElectricTechnologyCo.,Ltd. | 1,073,649.95 | 1,297,834.33 |
| Otherpayables | TaizhouAidebangIntelligent | 1,521,356.41 | 1,000,000.00 |
| TechnologyCo.,Ltd. | |||
| Otherpayables | TianjinMagicSquareTravelTechnologyCo.,Ltd. | 8,833.33 | |
| Otherpayables | TianjinXintaiPrecisionTechnologyCo.,Ltd. | 359,050.00 | |
| Otherpayables | GelingNewEnergyTechnology(Shandong)Co.,Ltd. | 200,000.00 | |
| Leaseliabilities | DuanHua | 2,353,501.71 | |
| Non-currentliabilitiesduewithinoneyear | DuanHua | 2,353,501.71 | 4,555,680.46 |
(3)Otheritems
□Applicable√Notapplicable
7.Relatedparties’commitments
□Applicable√Notapplicable
8.Others
□Applicable√NotapplicableXV.Share-basedpayment
1.Equityinstruments
√Applicable□Notapplicable
Quantityunit:TenThousandSharesUnit:TenThousandYuan(RMB)
| GranttoCategory | Grantincurrentperiod | Currentexercise | Unlockedincurrentperiod | Expirationofcurrentperiod | ||||
| Number | Amountofmoney | Number | Amountofmoney | Number | Amountofmoney | Number | Amountofmoney | |
| 2021restrictedstock | 427.14 | 3,643.50 | 12.60 | 107.48 | ||||
| 2023stockoptions | 716.40 | 22,337.35 | ||||||
| Total | 716.40 | 22,337.35 | 427.14 | 3,643.50 | 12.60 | 107.48 | ||
Stockoptionsorotherequityinstrumentsoutstandingattheendoftheperiod
√Applicable□Notapplicable
| GranttoCategory | Outstandingstockoptionsattheendoftheperiod | Otherequityinstrumentsoutstandingattheendoftheperiod | ||
| Rangeofexerciseprice | Remainingcontractual | Rangeofexerciseprice | Remainingcontractual | |
| term | term | |||
| 2021restrictedstock | 8.53yuan/share | 40months | ||
| 2023stockoptions | 31.18yuan/share | 40months |
Othernotes
(1)2023stockoptionsThesixthmeetingofthefifthboardofdirectorsoftheCompanyreviewedandapprovedtheBillonGrantingStockOptionstoIncentiveObjectsoftheStockOptionIncentivePlanin2023,whichdeterminedthatonApril14,2023,4,776,000stockoptionsweregrantedto324incentiveobjectsatanexercisepriceof48.07yuanpershare.OnApril19,2023,thecompanycompletedthegrantregistrationofthe2023stockoptionincentiveplan.OnAugust21,2023,the12thmeetingofthefifthboardofdirectorsoftheCompanyconsideredandapprovedtheBillonAdjustingtheGrantingNumberandExercisePriceoftheStockOptionIncentivePlanin2023.Asthecompanyimplementedtheequitydistributionin2022,itdistributedacashdividendof1.304yuan(includingtax)pershare,increased0.5sharespersharewithcapitalreserve,andadjustedthenumberofsharesgrantedto7.164million(10,000shares)in2023,Theexercisepriceisadjustedto31.18yuanpershare.Bytheendofthereportingperiod,thenumberofstockoptionsgrantedbytheCompanyin2023was7164000,andtheexercisepricewas31.18yuanpershare.
(2)2021restrictedstockAtthe8thmeetingofthe5thBoardofDirectorsoftheCompany,theProposalonAdjustingtheNumberofRestrictedStockIncentivePlansGrantedandtheRepurchasePricein2021,theProposalontheAchievementsofRemovingtheRestrictionConditionsintheFirstReleasePeriodoftheFirstGrantoftheRestrictedStockIncentivePlanin2021andtheProposalonRepurchasingandCancellingtheFirstGrantofSomeRestrictedStocksintheRestrictedStockIncentivePlanin2021wereconsideredandapproved,Duetotheadjustmentofequitydistribution,thenumberofrestrictedstockincentiveplansgrantedin2021is14,364,000sharesandtherepurchasepriceis8.53yuanpershare;Confirmthattheunlockingconditionsforthefirstunlockingperiodofthefirstpartialgrantoftherestrictedstockincentiveplanin2021havebeenmet,97incentiveobjectscanbeunlocked,andthenumberofunlockedsharesis4,158,000;Itisconfirmedthat4incentiveobjectsinthefirstgrantpartoftherestrictedstockincentiveplanin2021haveresignedforpersonalreasonsandnolongerqualifyasincentiveobjects,andtheCompanywillrepurchaseandcancelthetotal126,000restrictedsharesthathavebeen
grantedbutnotyetlifted.OnJune1,2023,therestrictedstockincentiveplanin2021granted4,158,000sharesinthefirstunlockingperiodforthefirsttimetobeunlockedandlistedandcirculated.OnJuly27,2023,theCompanycompletedtherepurchaseandcancellationproceduresof126,000restrictedsharesoffourincentiveobjectsinthefirstgrantpartoftherestrictedstockincentiveplanin2021.OnAugust21,2023,thetwelfthmeetingofthefifthboardofdirectorsoftheCompanydeliberatedandapprovedtheBillontheAchievementsofUnlockingConditionsfortheFirstUnlockingPeriodoftheReservedGrantPartoftheRestrictedStockIncentivePlanin2021,confirmingthattheunlockingconditionsforthefirstunlockingperiodofthereservedgrantpartoftheRestrictedStockIncentivePlanin2021wereachieved,14incentiveobjectscouldbeunlocked,andthenumberofunlockedshareswas113,400.OnAugust28,2023,113,400sharesreservedforthefirstunlockingperiodoftherestrictedstockincentiveplanin2021wereunlockedforlistingandcirculation.Asattheendofthereportingperiod,thenumberofrestrictedsharesgrantedbytheCompanyin2021was9,966,600,ofwhich9,702,000sharesweregrantedforthefirsttimeand264,600shareswerereservedforgrant.
2.Abouttheequity-settledshare-basedpayment
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Equitysettledshare-basedpaymentobjects | 2021restrictedstock | 2023stockoptions |
| Methodofdeterminingthefairvalueofequityinstrumentsatthedateofgrant | Closingpriceongrantdate | Black-Scholesmodel,underlyingstockprice:60.00yuan/share |
| Importantparametersoffairvalueofequityinstrumentsatgrantdate | N/A | Historicalvolatility:15.8036%,15.3278%and16.3715%Risk-freeinterestrate:1.50%,2.10%,2.75% |
| Basisfordeterminingthenumberofvestedequityinstruments | Bestestimateofexpectedvestingattheendoftheyear | Bestestimateofexpectedvestingattheendoftheyear |
| Reasonsforsignificantdifferencesbetweencurrentperiodestimatesandpriorperiodestimates | N/A | N/A |
| Accumulatedamountofequity-settledshare-basedpaymentincludedincapitalreserve | 131,696,934.06 | 19,132,905.86 |
Othernotes
None
3.Aboutthecash-settledshare-basedpayment
□Applicable√Notapplicable
1、4.Share-basedpaymentexpensesofthecurrentperiod
√Applicable□Notapplicable
Unit:Yuan(RMB)
| GranttoCategory | Equitysettledshare-basedpaymentexpenses | Cashsettledshare-basedpaymentexpenses |
| Productionpersonnel | 797,204.42 | |
| Salesman | 16,533,973.00 | |
| Management | 32,460,671.66 | |
| Researchanddevelopmentpersonnel | 20,377,082.90 | |
| Total | 70,168,931.98 |
OthernotesAstheCompany'soperatingincomein2023andnetprofitattributabletoshareholdersoflistedcompaniesafterexcludingtheimpactofequityincentivesdidnotmeettheCompanylevelperformanceassessmentrequirementsinthefirstexerciseperiodsetbythe2023stockoptionequityincentiveplan,theaccruedcostofstockoptionincentivesin2023was
17.7377millionyuan.
5.Correctionandterminationofshare-basedpayment
□Applicable√Notapplicable
6.Others
√Applicable□NotapplicableOnApril15,2024,the21stmeetingofthefifthboardofdirectorsoftheCompanyconsideredandadoptedtheBillonAdjustingtheExercisePriceofthe2023StockOptionIncentivePlan.AstheCompanyimplementsthesemi-annualequitydistributionin2023,itdistributesacashdividendof0.348yuanpershare(includingtax),andtheexercisepriceofthe2023stockoptionincentiveplanisadjustedto30.83yuanpershareaccordingly.XVI.Commitmentsandcontingencies
1.Importantcommitments
√Applicable□NotapplicableImportantexternalcommitments,thenatureandtheamountexistingasatthebalancesheetdate
| Items | December31,2023 | December31,2022 |
| Capitalcommitmentswithcontract | 1,641,661,780.44 | 68,081,624.42 |
2.Contingencies
(1)Significantcontingenciesexistingasatthebalancesheetdate
□Applicable√Notapplicable
(2)TheCompanyhadnoimportantcontingenciesunnecessarytobedisclosedbutnecessarytobeexplained
□Applicable√Notapplicable
3.Others
□Applicable√NotapplicableXVII.Eventsafterthebalancesheetdate
1.Module:Significantnon-adjustmentevents
□Applicable√Notapplicable
2.Profitdistribution
√Applicable□Notapplicable
Unit:Yuan(RMB)
signedbutnotyetprovidedProfitordividendtobedistributed
| Profitordividendtobedistributed | 452,722,253.92 |
| Profitordividendannouncedtobedistributedafterreviewandapproval | 452,722,253.92 |
TheCompanyheldthe21stmeetingofthe5thBoardofDirectorsatwhichapreplanforprofitdistributionin2023wasapproved.Accordingtothepreplan,theCompanywastodistributeprofitsbasedonthetotalsharecapitalregisteredonthedateofequitydistributionandequityregistrationminusthesharesinthespecialsecuritiesaccountforrepurchase.TheprofitdistributionplanistodistributeacashdividendofRMB5.34yuan(includingtax)per10sharestoallshareholders.AsofDecember31,2023,thetotalsharecapitaloftheCompanywas861,925,007shares,andthebaseafterdeducting14,130,524sharesinthespecialsecuritiesaccountforrepurchaseoftheCompanywas847,794,483shares,soastocalculatethecashdividendtobedistributedthistimeofRMB452,722,253.92yuan(includingtax).If,fromthedateofdisclosureofthisannouncementtothedateofequitydistributionregistration,thenumberofsharesinthecompany'stotalsharecapitalorspecialsecuritiesaccountforrepurchasechangesduetoconvertiblebondconversion,sharerepurchase,useofrepurchasedsharestograntrestrictedsharesforequityincentives,repurchaseandcancellationofsharesgrantedforequityincentives,repurchaseandcancellationofsharesformajorassetrestructuring,etc.,thecompanyintendstomaintainthedistributionratiopershareunchangedandadjustthetotaldistributionaccordingly.
3.Salesreturn
□Applicable√Notapplicable
4.Noteotherpostbalancesheetevents
√Applicable□NotapplicableStockoptionincentiveplanOnFebruary29,2024,theCompanyheldthefirstextraordinarygeneralmeetingof2024toconsiderandapprovetheproposalontheStockOptionIncentivePlanfor2024(Draft)anditssummary,andtheproposalontheManagementMeasuresfortheImplementationEvaluationoftheStockOptionIncentivePlanfor2024.AccordingtotheresolutionofthegeneralmeetingoftheCompany,thetotalnumberofincentiveobjectsgrantedbytheCompanywas204,thenumberofstockoptionsgrantedwas13.70millionwiththeexercisepriceofRMB12.61yuanpershare.Theincentiveplanisvalidforamaximumof48monthsfromthedateofstockoptiongranttothedateofexerciseorcancellationofallthestockoptionsgrantedtotheincentiveobjects.XVIII.Othersignificantevents
1.Correctionoftheaccountingerrorsinthepreviousperiod
(1)Retroactiverestatement
□Applicable√Notapplicable
(2)Prospectiveapplicationmethod
□Applicable√Notapplicable
2.Significantliabilitiesrestructuring
□Applicable√Notapplicable
3.Replacementofassets
(1)Non-monetaryassetsexchange
□Applicable√Notapplicable
(2)Otherassetsexchange
□Applicable√Notapplicable
4.Annuityplan
□Applicable√Notapplicable
5.Operationtermination
□Applicable√Notapplicable
6.Segmentinformation
(1)Basisfordeterminingthereportingsegmentsandaccountingpolicy
□Applicable√Notapplicable
(2)Financialinformationofthereportingsegments
□Applicable√Notapplicable
(3)Incasethereisnoreportingsegmentorthetotalassetsandliabilitiesofthereportingsegmentscannotbedisclosed,explainthereason
√Applicable□NotapplicableTheCompanyismainlyengagedintheelectrictwo-wheelersbusiness,andtheassetsrelatedtotheservicessupplyarelocatedinChina.Intermsofinternalorganizationalstructureandmanagementrequirements,theCompanytakestheCompany'sbusinessesasawholetoreviewinternalreports,allocateresourcesandperformanceassessment.Therefore,excepttheinformationalreadypresentedinthefinancialstatements,thereisnoothersegmentinformationnecessarytobepresented.
(4)Othernotes
√Applicable□NotapplicableGeographicalinformation:ThevastmajorityoftheCompany'sforeigntransactionrevenuecomesfromdomesticsources.TheCompany'snon-currentassets(excludingfinancialassetsanddeferredincometaxassets)arealllocatedinChina.In2023,theCompanydidnotgeneratemorethan10%ofitsoperatingrevenuesfromasinglecustomer.
7.Othersignificanttransactionsandmattersthatmayaffectinvestors'decisionmaking
□Applicable√Notapplicable
8.Others
□Applicable√NotapplicableXIX.Notestotheparentcompany’sfinancialstatements
1.Accountsreceivable
(1)Disclosedbasedonaging
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Aging | Endingbookbalance | Openingbookbalance |
| Within1year | ||
| Where:Itemizedwithin1year | ||
| Within1year | 136,823,141.44 | 132,394,484.26 |
| Sub-totalwithin1year | 136,823,141.44 | 132,394,484.26 |
| 1to2years | 11,048,467.93 | 4,491,535.52 |
| 2to3years | 1,093,745.55 | 138,725.00 |
| Over3years | 108,695.20 | |
| Total | 149,074,050.12 | 137,024,744.78 |
(2)Classifieddisclosurebasedonthemethodofprovisionforbaddebt
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Categories | Endingbalance | Openingbalance | ||||||||
| Bookbalance | Baddebtreserve | Bookvalue | Bookbalance | Baddebtreserve | Bookvalue | |||||
| Amount | Proportion(%) | Amount | Provisionproportion(%) | Amount | Proportion(%) | Amount | Provisionproportion(%) | |||
| Assessedbaddebtprovisionindividually | 3,176,317.65 | 2.13 | 3,176,317.65 | 100.00 | 32,471,486.51 | 23.70 | 3,176,317.65 | 9.78 | 29,295,168.86 | |
| Where: | ||||||||||
| Individualprovisionforbaddebts | 3,176,317.65 | 2.13 | 3,176,317.65 | 100.00 | 32,471,486.51 | 23.70 | 3,176,317.65 | 9.78 | 29,295,168.86 | |
| Assessedbaddebtprovisioninportfolio | 145,897,732.47 | 97.87 | 3,749,411.65 | 2.57 | 142,148,320.82 | 104,553,258.27 | 76.30 | 1,557,146.17 | 1.49 | 102,996,112.10 |
| Where: | ||||||||||
| Portfoliosbasedoncreditriskcharacteristics | 145,897,732.47 | 97.87 | 3,749,411.65 | 2.57 | 142,148,320.82 | 104,553,258.27 | 76.30 | 1,557,146.17 | 1.49 | 102,996,112.10 |
| Total | 149,074,050.12 | 100.00 | 6,925,729.30 | / | 142,148,320.82 | 137,024,744.78 | 100.00 | 4,733,463.82 | / | 132,291,280.96 |
Individualprovisionforbaddebts:
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Name | Endingbalance | |||
| Bookbalance | Baddebtprovision | Provisionproportion | Provisionreason | |
| (%) | ||||
| SuningProcurementCenterofSuningTescoGroupCo.,Ltd. | 3,176,317.65 | 3,176,317.65 | 100.00 | Lesslikelytoberecovered |
| Total | 3,176,317.65 | 3,176,317.65 | 100.00 | / |
Notestotheprovisionforbaddebtsbyindividualitems:
□Applicable√NotapplicableProvisionforbaddebtsbasedonportfolio:
√Applicable□NotapplicableProvisionitemsonportfolio:Provisionforbaddebtsrecognisedbasedontheportfolioofcreditriskcharacteristics
Unit:Yuan(RMB)
| Name | Endingbalance | ||
| Accountsreceivable | Baddebtprovision | Provisionproportion(%) | |
| Within1year | 136,820,462.44 | 1,692,649.20 | 1.24 |
| 1to2years | 7,874,829.28 | 1,410,381.93 | 17.91 |
| 2to3years | 1,093,745.55 | 537,685.32 | 49.16 |
| Over3years | 108,695.20 | 108,695.20 | 100.00 |
| Total | 145,897,732.47 | 3,749,411.65 | 2.57 |
Notestorecognitionofprovisionforbaddebtsbasedonportfolio:
□Applicable√NotapplicableProvisionforbaddebtisaccruedinaccordancewiththegeneralmodelofexpectedcreditloss
□Applicable√NotapplicableClassificationbasisofeachstageandprovisionratioforbaddebtsN/ADescriptionofsignificantchangesinthebookbalanceofaccountsreceivablewithchangesinlossprovisioninthecurrentperiod:
□Applicable√Notapplicable
(3)Provisionforbaddebts
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Categories | Openingbalance | Amountofmovementduringthereportingperiod | Endingbalance | |||
| Provision | Recoveryorreversal | Charge-offorwrite-off | Otherchanges | |||
| Provisionforbaddebts | 4,733,463.82 | 2,633,926.15 | 390,692.59 | 50,968.08 | 6,925,729.30 | |
| Total | 4,733,463.82 | 2,633,926.15 | 390,692.59 | 50,968.08 | 6,925,729.30 | |
Wherethesignificantamountofthereserveforbaddebtrecoveredorreversed:
□Applicable√NotapplicableOthernotesNone
(4)Accountsreceivableactuallywrittenoffinthereportingperiod
□Applicable√NotapplicableWhere,theimportantaccountsreceivablewritten-off
□Applicable√NotapplicableNotestoaccountsreceivablewritten-off
□Applicable√Notapplicable
(5)Accountsreceivableandcontractassetsowedbythetopfivedebtorsbasedontheendingbalance
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Organizationname | Endingbalanceoftradereceivables | Endingbalanceofcontractassets | Endingbalanceoftradereceivablesandcontractassets | Proportionintotalendingbalanceofaccountsreceivable(%) | Endingbalanceoftheprovisionforbaddebts |
| Company1 | 10,710,300.18 | 10,710,300.18 | 7.18 | 154,228.32 | |
| Company2 | 9,768,930.86 | 9,768,930.86 | 6.55 | 140,672.60 | |
| Company3 | 8,478,929.97 | 8,478,929.97 | 5.69 | 1,798,681.54 | |
| Company4 | 8,258,026.01 | 8,258,026.01 | 5.54 | 118,915.57 | |
| Company5 | 4,168,579.22 | 4,168,579.22 | 2.80 | 60,027.54 | |
| Total | 41,384,766.24 | 41,384,766.24 | 27.76 | 2,272,525.57 |
OtherNotesNone
OtherNotes:
□Applicable√Notapplicable
2.OtherreceivablesItemsPresentation
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Endingbalance | Openingbalance |
| Interestreceivables | 415,312.11 | 350,530.03 |
| Dividendsreceivable | ||
| Otherreceivables | 1,710,924,896.85 | 68,356,060.43 |
| Total | 1,711,340,208.96 | 68,706,590.46 |
Othernotes:
□Applicable√NotapplicableInterestreceivables
(1)Classificationofinterestreceivable
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Endingbalance | Openingbalance |
| Interestofaccountsreceivable | 415,312.11 | 350,530.03 |
| Total | 415,312.11 | 350,530.03 |
(2)Significantoverdueinterest
□Applicable√Notapplicable
(3)Classifieddisclosurebybaddebtprovisionmethod
□Applicable√NotapplicableIndividualprovisionforbaddebts:
□Applicable√NotapplicableDescriptionofindividualprovisionforbaddebts:
□Applicable√NotapplicableProvisionforbadanddoubtfuldebtsbasedonportfolio:
□Applicable√Notapplicable
(4)Iftheprovisionforbaddebtisaccruedinaccordancewiththegeneralmodelofexpectedcreditloss
□Applicable√NotapplicableClassificationbasisofeachstageandprovisionratioforbaddebtsN/ADescriptionofsignificantchangesinthebookbalanceofinterestreceivableswithchangesinlossprovisioninthecurrentperiod:
□Applicable√Notapplicable
(5)Provisionforbaddebts
□Applicable√NotapplicableAmongthem,theamountofbaddebtprovisionrecoveredorreversedinthecurrentperiodissignificant:
□Applicable√NotapplicableOthernotes:
None
(6)Interestreceivablesactuallywrittenoffinthereportingperiod
□Applicable√NotapplicableSignificantwrite-offofInterestreceivables:
□Applicable√NotapplicableInterestreceivableswrite-offdescription:
□Applicable√NotapplicableOthernotes:
□Applicable√NotapplicableDividendreceivable
(1)Dividendreceivable
□Applicable√Notapplicable
(2)Significantdividendsreceivablewithageexceeding1year
□Applicable√Notapplicable
(3)Classifieddisclosurebybaddebtprovisionmethod
□Applicable√NotapplicableIndividualprovisionforbaddebts:
□Applicable√Notapplicable
Descriptionofindividualprovisionforbaddebts:
□Applicable√NotapplicableProvisionforbadanddoubtfuldebtsbasedonportfolio:
□Applicable√Notapplicable
(4)Iftheprovisionforbaddebtisaccruedinaccordancewiththegeneralmodelofexpectedcreditloss
□Applicable√NotapplicableClassificationbasisofeachstageandprovisionratioforbaddebtsNoneDescriptionofsignificantchangesinthebookbalanceofdividendreceivableswithchangesinlossprovisioninthecurrentperiod:
□Applicable√Notapplicable
(5)Provisionforbaddebts
□Applicable√NotapplicableAmongthem,theamountofbaddebtprovisionrecoveredorreversedinthecurrentperiodissignificant:
□Applicable√NotapplicableOthernotes:
None
(6)Dividendreceivablesactuallywrittenoffinthereportingperiod
□Applicable√NotapplicableSignificantwrite-offofdividendreceivables:
□Applicable√NotapplicableDividendreceivableswrite-offdescription:
□Applicable√NotapplicableOthernotes:
□Applicable√NotapplicableOtherreceivables
(1)Disclosedbasedonaging
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Aging | Endingbookbalance | Openingbookbalance |
| Within1year | ||
| Where:Itemizedwithin1year | ||
| Within1year | 1,687,264,600.01 | 67,617,489.04 |
| Sub-totalwithin1year | 1,687,264,600.01 | 67,617,489.04 |
| 1to2years | 23,157,493.30 | 137,476.89 |
| 2to3years | 10,000.00 | 32,000.00 |
| Over3years | 522,003.54 | 579,394.50 |
| Total | 1,710,954,096.85 | 68,366,360.43 |
(2)Classificationbasedonthenatureoffund
□Applicable√Notapplicable
(3)Provisionforbaddebts
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Baddebtprovision | Stage1 | Stage2 | Stage3 | Total |
| 12-monthExpectedCreditlosses | LifetimeExpectedCreditlosses(nocreditimpairmentincurred) | Lifetimeexpectedcreditlosses(creditimpairmentalreadyincurred) | ||
| BalanceasatJanuary1,2023 | 10,300.00 | 10,300.00 | ||
| BalanceasatJanuary1,2023inthereportingperiod | ||||
| --TransferredintoStage2 | ||||
| --TransferredintoStage3 | ||||
| --ReveredtoStage2 | ||||
| --ReversedtoStage1 | ||||
| Accrual | 18,900.00 | 18,900.00 | ||
| Reversal | ||||
| Transferout | ||||
| Write-off | ||||
| Otherchanges | ||||
| BalanceasatDecember31,2023 | 29,200.00 | 29,200.00 |
ClassificationbasisofeachstageandprovisionratioforbaddebtsN/ANotetothesignificantchangesinthebookbalanceofotherreceivableswithchangesinprovisionforlossinthereportingperiod:
□Applicable√NotapplicableTheamountofprovisionforbaddebtsinthereportingperiodandthebasisforassessingwhetherthecreditriskoffinancialinstrumentshasincreasedsignificantly
□Applicable√Notapplicable
(4)Provisionforbaddebts
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Categories | Openingbalance | Amountofmovementduringthereportingperiod | Endingbalance | |||
| Provision | Recoveryorreversal | Charge-offorwrite-off | Otherchanges | |||
| Baddebtprovision | 10,300.00 | 18,900.00 | 29,200.00 | |||
| Total | 10,300.00 | 18,900.00 | 29,200.00 | |||
Whereasignificantamountofthereserveforbaddebtrecoveredorreversedduringthereportingperiod:
□Applicable√NotapplicableOthernotesNone
(5)Otherreceivablesactuallywrittenoffinthereportingperiod
□Applicable√NotapplicableSignificantwrite-offofotherreceivables:
□Applicable√NotapplicableDescriptionofwrite-offofotherreceivables:
□Applicable√Notapplicable
(6)Otherreceivablesowedbythetopfivedebtorsbasedontheendingbalance
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Organizationname | Endingbalance | Proportionintotalendingbalanceofotherreceivables | NatureofPayment | Aging | ClosingbalanceofProvisionforbaddebts |
| Company1 | 1,484,812,105.66 | 86.78 | Intercompany | Within1 |
| borrowings | year | |||
| Company2 | 98,000,000.00 | 5.73 | Intercompanyborrowings | Within1yearand1to2years |
| Company3 | 83,000,000.00 | 4.85 | Intercompanyborrowings | Within1year |
| Company4 | 15,000,000.00 | 0.88 | Intercompanyborrowings | 1to2years |
| Company5 | 12,686,756.67 | 0.74 | Intercompanyaccounts | Within1year |
| Total | 1,693,498,862.33 | 98.98 | / | / |
(7)Presentationinotherreceivablesduetocentralizedmanagementoffunds
□Applicable√NotapplicableOthernotes:
□Applicable√Notapplicable
3.Long-termequityinvestments
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Endingbalance | Openingbalance | ||||
| Bookbalance | Provisionforimpairment | Bookvalue | Bookbalance | Provisionforimpairment | Bookvalue | |
| Investmentinsubsidiaries | 1,110,377,202.67 | 1,110,377,202.67 | 1,102,205,042.46 | 1,102,205,042.46 | ||
| Investmentinassociatesandjointventures | 38,817,295.52 | 38,817,295.52 | ||||
| Total | 1,110,377,202.67 | 1,110,377,202.67 | 1,141,022,337.98 | 1,141,022,337.98 | ||
(1)Investmentinsubsidiaries
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Investees | Openingbalance | Increaseinthereportingperiod | Decreaseinthereportingperiod | Endingbalance | Provisionforimpairmentinthereportingperiod | Endingbalanceoftheprovisionforimpairment |
| AimaNanfang | 100,000,000.00 | 100,000,000.00 | ||||
| AimaChongqing | 866,070,335.76 | 38,072,730.42 | 904,143,066.18 | |||
| HenanVehicle | 5,676,019.01 | - | 5,676,019.01 | |||
| GuangdongVehicle | 2,838,009.50 | - | 2,838,009.50 | |||
| GuangxiVehicle | - | 1,419,004.75 | 1,419,004.75 | |||
| ZhejiangVehicle | 2,838,009.50 | - | 2,838,009.50 | |||
| TianjinVehicle | 9,933,033.27 | - | 9,933,033.27 | |||
| AimaVentureCapital | 92,329,028.97 | 869,285.82 | 93,198,314.79 | |||
| TianjinSports | 10,356,223.96 | 1,426,723.40 | 11,782,947.36 | |||
| Suiwanwan | 2,275,022.49 | 75,685.32 | 2,350,707.81 | |||
| SuperUniverse | 9,888,260.00 | 7,998,136.36 | 17,886,396.36 | |||
| SuotengTechnology | 1,100.00 | 58,310,594.14 | 58,311,694.14 | |||
| Total | 1,102,205,042.46 | 108,172,160.21 | 100,000,000.00 | 1,110,377,202.67 |
(2)Investmentinassociatesandjointventures
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Investmentin: | Openingbalance | Increase/decrease(+/-)inthereportingperiod | Ending | Endingbalanceof | |||||||
| Incr | Dec | Investment | Other | Other | Cash | Provision | Oth | ||||
| ease | rease | Incomeundertheequitymethod | comprehensiveincome | equitymovement | dividenddeclared | forimpairment | ers | balance | theprovisionforimpairment | ||
| I.Jointventure | |||||||||||
| Sub-total | |||||||||||
| II.Associates | |||||||||||
| TaizhouJinfu | 38,817,295.52 | -38,817,295.52 | |||||||||
| Sub-total | 38,817,295.52 | -38,817,295.52 | |||||||||
| Total | 38,817,295.52 | -38,817,295.52 | |||||||||
(3)Impairmenttestoflong-termequityinvestments
□Applicable√NotapplicableOthernotes:
None
4.Operatingrevenueandcosts
(1)Operatingrevenueandcosts
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Amountincurredinthereportingperiod | Amountincurredinthepreviousperiod | ||
| Income | Cost | Income | Cost | |
| Primarybusiness | 8,141,955,276.74 | 7,696,852,769.18 | 8,032,042,197.59 | 7,464,933,212.00 |
| Otherbusinesses | 212,797,399.54 | 177,274,672.96 | 231,734,878.05 | 194,420,927.02 |
| Total | 8,354,752,676.28 | 7,874,127,442.14 | 8,263,777,075.64 | 7,659,354,139.02 |
(1).(2)Breakdownofoperatingincomeandoperatingcost
√Applicable□NotapplicableUnit:Yuan(RMB)
| Contractclassification | Total | |
| Businessincome | Operatingcosts | |
| CommodityType | ||
| Revenuefromelectrictwo-wheelers,electrictricycle,bicyclesandaccessories | 8,141,955,276.74 | 7,696,852,769.18 |
| Rentalincome | 20,839,493.37 | 17,390,429.26 |
| Otherincome | 191,957,906.17 | 159,884,243.70 |
| Classificationbyregionofoperation | ||
| ChineseMainland | 8,314,180,504.64 | 7,839,544,341.37 |
| Othercountriesorregions | 40,572,171.64 | 34,583,100.77 |
| Classificationbytimeofgoodstransfer | ||
| Transferatapointintime | 8,333,913,182.91 | 7,856,737,012.88 |
| Transferredoveraperiodoftime | 20,839,493.37 | 17,390,429.26 |
| Total | 8,354,752,676.28 | 7,874,127,442.14 |
Othernotes
□Applicable√Notapplicable
(2).(3)Notestoperformanceobligations
√Applicable□NotapplicableUnit:Yuan(RMB)
| Project | Timingofperformanceobligations | Significantpaymentterms | Thenatureofthegoodsthecompanyundertakestotransfer | Whetheritisthemainresponsibleperson | Amountsassumedbythecompanythatareexpectedtoberefundedtocustomers | Typesofqualityassuranceprovidedbythecompanyandrelatedobligations |
| Contractliabilities | Whengoodsaredeliveredtoacustomer | Thecontractpriceisgenerallydueupondeliveryofthegoodsandreceiptoftheinvoice | Electrictwo-wheelers,electrictricycle,etc. | Yes | 0 | Qualityassurance |
| Provisionofservices | Whenprovidingservices | Advancereceipts | Aftersalesextension | Yes | 0 | None |
| Total | / | / | / | / | 0 | / |
(4)Notestoapportioningtotheresidualperformanceobligations
√Applicable□NotapplicableAttheendofthereportingperiod,therevenuecorrespondingtotheperformanceobligationsthathavebeensignedbuthavenotbeenfulfilledorhavenotbeenfulfilledis52,994,109.92yuan,ofwhich:
52,994,109.92yuanisexpectedtoberecognizedasrevenuein2024
(5)Significantcontractchangesorsignificanttransactionpriceadjustments
□Applicable√NotapplicableOthernotes:
None
5.Investmentincome
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Amountincurredinthereportingperiod | Amountincurredinthepreviousperiod |
| Long-termequityinvestmentincomeunderthecostmethod | 1,613,828,214.80 | 666,500,000.00 |
| Long-termequityinvestmentincomeundertheequitymethod | -38,817,295.52 | -30,086,884.58 |
| Returnoninvestmentfromfinancialproducts | 1,260,400.00 | -54,407.60 |
| Gainsfromdisposaloflong-termequityinvestment | 11,346,684.29 | |
| Total | 1,576,271,319.28 | 647,705,392.11 |
Othernotes:
None
6.Others
□Applicable√NotapplicableXX.Supplementaryinformation
1.Statementofnon-recurringgainorlossesinthereportingperiod
√Applicable□Notapplicable
Unit:Yuan(RMB)
| Items | Amount |
| Profitorlossfromdisposalofnon-currentassets,includingthewrite-offofprovisionforassetimpairment | -5,102,906.88 |
| Governmentgrantsrecognizedinduringprofitorloss(excludingthosehavingcloserelationshipwiththeCompany’snormalbusiness,conformingtothenationalpoliciesandregulationsandenjoyingongoingfixedamountorquantityaccordingtocertainstandard) | 148,273,316.15 |
| Profitorlossarisingfromchangesinfairvalueoffinancialassetsandfinancialliabilitiesheldbynon-financialentities,andprofitorlossarisingfromdisposaloffinancialassetsandfinancialliabilities,exceptforeffectivehedgingactivitiesrelatedtotheCompany’snormal | -17,226,650.77 |
| businessoperations | |
| Writebackoftheimpairmentprovisionforreceivablesthathavebeenindividuallytestedforimpairment | 3,439.63 |
| Gainsarisingwhentheinvestmentcostinacquiringsubsidiaries,associates,andjointventureswaslessthanthefairvalueoftheidentifiablenetassetsatthetimeofinvestment | 99,502.54 |
| Non-operatingincomeorexpensesotherthantheaboveitems | 18,838,780.52 |
| Othergainorlossincompliancewiththedefinitionofnon-recurringgainorloss | 5,994,200.26 |
| Less:Amountaffectedbytheincometax | 34,159,727.30 |
| Affectedamountofminorityshareholders’equity(aftertax) | 72,171.19 |
| Total | 116,647,782.96 |
IftheCompanyidentifiesitemsnotlistedinExplanatoryAnnouncementNo.1onInformationDisclosureofCompaniesOfferingSecuritiestothePublic-Non-recurringProfitandLossasnon-recurringprofitandlossitemsandtheamountissignificant,anddefinesnon-recurringprofitandlossitemslistedinExplanatoryAnnouncementNo.1onInformationDisclosureofCompaniesOfferingSecuritiestothePublic-Non-recurringProfitandLossasrecurringprofitandlossitems,thereasonsshallbeexplained.
□Applicable√NotapplicableOthernotes
□Applicable√Notapplicable
2.ROEandEPS
√Applicable□Notapplicable
| Profitinthereportingperiod | Netreturnonequity,weightedaverage(%) | Earningspershare | |
| Basicearningspershare | Dilutedearningspershare | ||
| Netprofitattributabletoownersoftheparent | 25.40 | 2.20 | 2.12 |
| Netprofitattributabletoownersoftheparentexcludingnon-recurringgainsorlosses | 24.01 | 2.06 | 1.99 |
3.DifferenceintheAccountingDatabasedrespectivelyontheChineseAccountingStandards(CAS)andInternationalAccountingStandards(IAS)
□Applicable√Notapplicable
4.Others
□Applicable√Notapplicable
ChairmanoftheBoard:ZhangJianTheReportwasapprovedbytheBoardofDirectors.Dateofthesubmission4/15/2024Revisioninformation
□Applicable√Notapplicable