StockCode:601689Abbr.:TuopuGroup
NingboTuopuGroupCo.,Ltd.
AnnualReport2024
April2025
ImportantNotes
I.TheBoardofDirectors,BoardofSupervisors,Directors,SupervisorsandSeniorManagementofNingboTuopuGroupCo.,Ltd.herebyguaranteethattheinformationpresentedinthisreportshallbetrue,accurateandcompleteandfreeofanyfalserecords,misleadingstatementsormaterialomissions,andtheywillbearjointandseveralliabilityforsuchinformation.II.AlldirectorsattendedthemeetingoftheBoardofDirectors.
III.BDOChinaShuLunPanCertifiedPublicAccountantsLLP(SpecialGeneralPartnership)issuedastandardandunqualifiedauditreportfortheCompany.IV.WuJianshu,apersoninchargeoftheCompany,HongTieyang,anofficerinchargeof
accountingworkandaccountinginstitution(AccountingOfficer)herebydeclareandwarrantthatthefinancialstatementsintheannualreportareauthentic,accurate,andcomplete.V.ProfitDistributionPlanorCapitalReserveConvertedtoAdditionalSharesPlanApproved
bytheBoardduringtheReportingPeriodAsauditedbyBDOChinaShuLunPanCertifiedPublicAccountantsLLP(SpecialGeneralPartnership),NingboTuopuGroupCo.,Ltd.(“TheParentCompany”)realizedanetprofitatRMB1,151,054,641.35in2024,afterastatutorysurplusreserveatRMB115,105,464.14iswithdrawnat10%oftherealizednetprofit,theprofitavailablefordistributionintheyearisRMB1,035,949,177.21;withtheundistributedprofitatthebeginningoftheyearatRMB3,981,561,695.41added,andthecashdividendsatRMB646,503,426.53distributedin2024deducted,thecumulativeprofitavailablefordistributionattheendof2024isRMB4,370,987,446.09.
Accordingtotheresolutionpassedatthe21stmeetingofthefifthBoardofDirectorsoftheCompany,theprofitdistributionplanlaiddownfor2024wouldbe:withthenumberofsharesregisteredontheequityregistrationdatefortheimplementationofequitydistributionasthebasenumber,RMB
5.19(taxincluded)per10shareswillbedistributedtoallshareholdersascashdividends.
Asat31December2024,thetotalnumberofsharesofthecompanyis1,686,025,655shares.On14March2025,theCompanycompletedtheredemptionoftheTuopuconvertiblebonds.Intheprocessofredemption,alargenumberofconvertiblebondholdersconvertedtheir“TuopuConvertibleBonds”intocompanyshareswithinthestatutorytimelimit.Afterthecompletionoftheredemption,accordingtothedataoftheShanghaiBranchofChinaSecuritiesDepository&ClearingCorporation,thetotalnumberofsharesoftheCompanywas1,737,835,580.Basedonthelatesttotalnumberof1,737,835,580sharesoftheCompanyaftertheredemptionoftheconvertiblebondsasmentionedabove,atotalcashdividendofRMB901,936,666.02(withtaxincluded)isproposedtobedistributed,representing30.06%ofthenet
profitattributabletotheordinaryshareholdersofthelistedcompanyintheconsolidatedstatementofaccountsfortheyear,andtheremainingundistributedprofitwillberolledovertothenextyear.Ifthereisachangeinthesaidtotalsharesintheperiodfromthedateoftheannouncementofprofitdistributionplantotherecorddatefordistribution,theCompanyintendstomaintaintheabove-mentionedcashdividendofRMB5.19(withtaxincluded)per10shares,andadjustthetotalcashdividendasappropriate.TheaboveprofitdistributionplanisprospectivelysubmittedtothegeneralmeetingoftheCompanyforconsideration.VI.Riskstatementofforward-lookingstatements
√Applicable□Non-applicableTheforward-lookingdescriptionofthefuturedevelopmentstrategy,businessplan,performanceforecastandotheraspectsinrelationtotheCompanyascontainedhereinwillnotconstituteasubstantialcommitmenttoinvestors.AllinvestorsoftheCompanyareadvisedtobecautiousabouttheinvestmentrisks.VII.Whetherthereisanynon-operatingcapitaloccupationbythecontrollingshareholderanditsaffiliatesNo
VIII.Whetherthereisanyexternalguaranteeprovidedinviolationoftheprescribeddecision
proceduresNo
IX.Whethertherearemorethanhalfofthedirectorswhocannotguaranteetheannualreport
disclosedbytheCompanyastoitsauthenticity,accuracyandcompletenessNo
X.Significantriskstatement
TheCompanyhasdescribedthesignificantrisksthatmayadverselyaffectthefuturedevelopmentoftheCompanyandtherealizationofitsbusinessobjectivesherein.Referto“Section3DiscussionandAnalysisofOperationConditions”XI.Others
√Applicable□Non-applicable
On14March2025,theCompanycompletedtheredemptionoftheTuopuconvertiblebonds.Intheprocessofredemption,alargenumberofconvertiblebondholdersconvertedtheir“TuopuConvertibleBonds”intocompanyshareswithinthestatutorytimelimit.Afterthecompletionoftheredemption,accordingtothedataoftheShanghaiBranchofChinaSecuritiesDepository&ClearingCorporation,thetotalnumberofsharesoftheCompanywas1,737,835,580.
Formoredetailsrefertothe"AnnouncementontheResultsoftheIssueofSharesbyTuopuGrouptoSpecificTargetsandChangesinShareCapital"publishedbytheCompanyontheShanghaiStockExchangewebsiteon15March2025.
Contents
Section1Definitions ...... 5
Section2CompanyProfileandKeyFinancialIndicators ...... 5
Section3ManagementDiscussionandAnalysis ...... 11
Section4CorporateGovernance ...... 42
Section5EnvironmentalandSocialResponsibility ...... 63
Section6SignificantEvents ...... 74
Section7ChangesinSharesandShareholders ...... 114
Section8InformationaboutPreferenceShares ...... 125
Section9InformationofCorporateBonds ...... 126
Section10FinancialReport ...... 128
| DirectoryofDocumentsAvailableforReference | FinancialstatementsaffixedwiththesignaturesandsealsofthelegalrepresentativeoftheCompany,theofficerinchargeofaccountingworkandaccountinginstitution. |
| OriginalauditreportaffixedwiththesealoftheaccountingfirmandthesignatureandsealofCPAs. | |
| AlloriginalcompanydocumentsandannouncementsdisclosedonthewebsitedesignatedbyCSRCduringthereportingperiod. |
Section1Definitions
I.DefinitionsInthisreport,unlessthecontextrequiresotherwise,thefollowingwordsandtermsshallbeconstruedas:
| Commontermsanddefinitions | ||
| TheCompany,issuer,Tuopu | Refersto | NingboTuopuGroupCo.,Ltd. |
| MECCAHK | Refersto | MECCAINTERNATIONALHOLDING(HK)LIMITED,thecontrollingshareholderoftheCompany |
| NingboZhuyue | Refersto | Thewholly-ownedsub-subsidiaryofthecontrollingshareholder,MECCAINTERNATIONALHOLDING(HK)LIMITED |
| PaisheProperty | Refersto | Thewholly-ownedsub-subsidiaryofthecontrollingshareholder,MECCAINTERNATIONALHOLDING(HK)LIMITED |
| ReportingPeriod | Refersto | FromJanuary1,2024toDecember31,2024 |
| BoardofDirectors,BoardofSupervisors,GeneralMeetingofShareholders | Refersto | BoardofDirectors,BoardofSupervisors,GeneralMeetingofShareholdersofNingboTuopuGroupCo.,Ltd. |
| 1.00Yuan,10,000Yuan,100millionYuan | Refersto | ?1.00,?10,000.00,?100,000,000.00 |
| Convertiblebonds | Refersto | Convertiblecorporatebonds |
| CSRC | Refersto | ChinaSecuritiesRegulatoryCommission |
| SSE | Refersto | ShanghaiStockExchange |
Section2CompanyProfileandKeyFinancialIndicators
I.CompanyInformation
| CompanyNameinChinese | NingboTuopuGroupCo.,Ltd. |
| CompanyAbbreviationinChinese | 拓普集团 |
| CompanyNameinEnglish | NingboTuopuGroupCo.,Ltd. |
| CompanyAbbreviationinEnglish | TuopuGroup |
| LegalRepresentativeoftheCompany | WuJianshu |
II.ContactPersonandContactInformation
| SecurityoftheBoard | RepresentativeofSecuritiesAffairs | |
| Name | WangMingzhen | GongYuchao |
| ContactAddress | 268YuwangshanRd,BeilunDistrict,Ningbo,Zhejiang | 268YuwangshanRd,BeilunDistrict,Ningbo,Zhejiang |
| Tel. | 0574-86800850 | 0574-86800850 |
| Fax | 0574-86800877 | 0574-86800877 |
| wmz@tuopu.com | gyc@tuopu.com |
III.GeneralInformationSummary
| RegisteredAddressoftheCompany | 268YuwangshanRd,DaqiStreet,BeilunDistrict,Ningbo,Zhejiang |
| ChangeHistoryofRegisteredAddressoftheCompany | OnJune16,2020,changedfrom"No.215HuangshanWestRoad,BeilunDistrict,Ningbo,Zhejiang"to"268 |
| YuwangshanRd,DaqiStreet,BeilunDistrict,Ningbo,Zhejiang" | |
| OfficeAddressoftheCompany | 268YuwangshanRd,DaqiStreet,BeilunDistrict,Ningbo,Zhejiang |
| PostalCodeofOfficeAddress | 315806 |
| Website | www.tuopu.com |
| tuopu@tuopu.com |
IV.InformationDisclosureandLocation
| MediaNameandWebsitewhereTheCompanyDisclosesitsAnnualReport | SecuritiesTimes |
| StockExchangeWebsitewhereTheCompanyDisclosesitsAnnualReport | SSEwebsite(www.sse.com.cn) |
| LocationforAnnualReportoftheCompany | OfficeofBoardSecretary |
V.OverviewofStockInformation
| OverviewofStockInformation | ||||
| StockType | StockExchange | StockAbbreviation | StockCode | StockAbbreviationBeforeChange |
| A-share | ShanghaiStockExchange | TuopuGroup | 601689 | - |
VI.OtherRelatedInformation
| AccountingfirmappointedbytheCompany(domestic) | Name | BDOChinaShuLunPanCertifiedPublicAccountantsLLP(SpecialGeneralPartnership) |
| OfficeAddress | 5/F,61EastNanjingRd,Shanghai | |
| NameofUndersignedAccountants | YuWeiying,TangWei | |
| Thesponsorinstitutionhiredbythecompanytoperformthecontinuoussupervisioninthereportingperiod | Name | ChinaMerchantsSecuritiesCo.Ltd |
| OfficeAddress | 111FuhuaFirstRd,FutianStreet,FutianDistrict,Shenzhen,Guangdong | |
| Nameofundersignedsponsor’srepresentatives | XiaoYan,TanGuotai | |
| Periodofcontinuoussupervision | FromJuly26,2016tothedateofusinguptheraisedfunds |
VII.KeyAccountingDataandFinancialIndicatorsoverthePastThreeYears
(1)KeyAccountingData
Unit：YuanCurrency：RMB
| KeyAccountingData | 2024 | 2023 | Increase/decreasecomparedwithpreviousyear(%) | 2022 | ||
| Afterchange | Beforechange | Afterchange | Beforechange | |||
| Operatingincome | 26,600,328,450.94 | 19,700,560,430.00 | 19,700,560,430.00 | 35.02 | 15,992,821,677.50 | 15,992,821,677.50 |
| Netprofitattributabletoshareholdersofthe | 3,000,605,982.24 | 2,150,642,258.47 | 2,150,642,258.47 | 39.52 | 1,700,208,711.12 | 1,700,208,711.12 |
| listedCompany | ||||||
| Netprofitattributabletoshareholdersofthelistedcompanyafterdeductingnon-recurringgainsandlosses | 2,728,318,259.04 | 2,021,006,456.66 | 2,021,006,456.66 | 35.00 | 1,655,627,050.66 | 1,655,627,050.66 |
| Netcashflowgeneratedbyoperationalactivities | 3,236,068,686.84 | 3,365,629,276.74 | 3,365,629,276.74 | -3.85 | 2,284,020,088.40 | 2,284,020,088.40 |
| Attheyearendof2024 | Attheyearendof2023 | Increase/decreasecomparedwithpreviousyear(%) | Attheyearendof2022 | |||
| Afterchange | Beforechange | Afterchange | Beforechange | |||
| Netassetsattributabletoshareholdersofthelistedcompany | 19,550,263,949.66 | 13,784,379,600.93 | 13,784,379,600.93 | 41.83 | 12,129,700,520.61 | 12,129,700,520.61 |
| Totalassets | 37,543,871,905.42 | 30,769,771,206.88 | 30,769,771,206.88 | 22.02 | 27,510,550,218.89 | 27,510,550,218.89 |
(2)KeyFinancialIndicators
| KeyFinancialIndicators | 2024 | 2023 | Increase/decreasecomparedwithpreviousyear(%) | 2022 | ||
| Afterchange | Beforechange | Afterchange | Beforechange | |||
| BasicEarningsperShare(RMB/Share) | 1.79 | 1.35 | 1.95 | 32.59 | 1.06 | 1.54 |
| DilutedEarningsperShare(RMB/Share) | 1.78 | 1.35 | 1.95 | 31.85 | 1.06 | 1.54 |
| BasicEarningsperShareafterdeductingnon-recurringgainsandlosses(RMB/Share) | 1.62 | 1.26 | 1.83 | 28.57 | 1.04 | 1.50 |
| WeightedAverageROE | 16.56 | 16.61 | 16.61 | Decreaseby0.05% | 15.02 | 15.02 |
| WeightedAverageROEafterdeductingnon-recurringgainsandlosses(%) | 15.05 | 15.61 | 15.61 | Decreaseby0.56% | 14.65 | 14.65 |
Notestothekeyaccountingdataandfinancialindicatorsoverthepreviousthreeyearsattheendofthereportingperiod
□Applicable√Non-applicableFollowingtheapprovalofthe2023AnnualGeneralMeeting,theCompany'sproposalforprofitdistributionandcapitalizationfor2023isoutlinedasfollows:basedonthetotalsharecapitalof1,162,775,947sharespriortotheproposal'sexecution,acashdividendofRMB0.556pershare(withtaxincluded)willbedistributed,alongsideatransferof0.45sharestoallshareholdersfromthecapitalreserve.ThisresultsinatotalcashdividendofRMB646,503,426.53andatransferof523,249,176shares.Consequently,thetotalsharecapitaloftheCompanypost-conversionwillbe1,686,025,109shares.Theex-rightsdateforthisequitydistributionplanissetforJuly18,2024,withthelistingdatefortheadditionalsharesarisingfromthecapitalizationoftheprovidentfundonJuly19,2024.IncompliancewithASBENo.34-EarningsperShare,theCompanyhasrecalculatedtheearningspersharefor2023and2022toensureconsistencyinaccountingmetricsacrosstheyears,factoringinthesharesconvertedfromthecapitalizationofthecapitalsurplus.
Ⅷ.DifferencesinAccountingDataunderChineseandInternationalAccountingStandards
(1)DifferencesinnetprofitandnetassetsattributabletoshareholdersoflistedcompanyinthefinancialreportsdisclosedunderinternationalaccountingstandardsandChineseaccountingstandards
□Applicable√Non-applicable
(2)DifferencesinnetprofitandnetassetsattributabletoshareholdersoflistedcompanyinthefinancialreportdisclosedunderinternationalaccountingstandardsandChineseaccountingstandards
□Applicable√Non-applicable
(3)NotestodifferencesbetweeninternationalandChineseaccountingstandards:
□Applicable√Non-applicableIX.Keyfinancialdataof2024byquarter
Unit：YuanCurrency：RMB
| Q1(FromJanuarytoMarch) | Q2(FromApriltoJune) | Q3(FromJulytoSeptember) | Q4(FromOctobertoDecember) | |
| Operatingincome | 5,688,211,871.16 | 6,533,608,365.27 | 7,130,174,754.48 | 7,248,333,460.03 |
| Netprofitattributabletoshareholdersofthelistedcompany | 645,401,996.29 | 810,843,682.32 | 777,809,789.85 | 766,550,513.78 |
| Netprofitattributabletoshareholdersofthelistedcompanyafterdeductingnon-recurringgainsandlosses | 596,005,077.10 | 699,763,314.41 | 727,491,996.89 | 705,057,870.64 |
| Netcashflowgeneratedbyoperatingactivities | 458,453,066.99 | 579,944,954.57 | 100,436,117.18 | 2,097,234,548.10 |
Notestodifferencesbetweenquarterlydataanddisclosedperiodicreportdata
□Applicable√Non-applicable
X.Non-recurringGainsandLossesItemsandAmounts
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Non-recurringGainsandLossesItems | Amountin2024 | Note(ifapplicable) | Amountin2023 | Amountin2022 |
| Gainsandlossesondisposalofnon-currentassets,includingthewrite-offofthereservesforassetimpairment | -19,860,458.72 | -8,196,144.37 | -8,160,326.70 | |
| Governmentgrantsrecognizedinprofitorlossforthecurrentperiod,exceptforgovernmentgrantsthatarecloselyrelatedtotheCompany'snormalbusinessoperations,incompliancewithnationalpoliciesandinaccordancewithdefinedcriteria,andthathaveacontinuousimpactontheCompany'sprofitorloss | 275,800,172.93 | Section10,XI | 154,398,450.86 | 62,111,199.70 |
| Gainsandlossesarisingfromchangesinthefairvalueoffinancialassetsandfinancialliabilitiesheldbynon-financialenterprisesandgainsandlossesarisingfromthedisposaloffinancialassetsandfinancialliabilities,exceptforeffectivehedgingbusinessrelatedtotheCompany'snormaloperatingbusiness | 39,525,563.52 | 5,949,475.57 | 10,324,869.65 | |
| Capitaloccupancyfeeschargedtonon-financialenterprisesrecognizedascurrentprofitorlossGainsandlossesonentrustedinvestmentorassetmanagement | ||||
| Gainsandlossesonentrustedinvestmentorassetmanagement | ||||
| Gainsandlossesonentrustedexternalloans | ||||
| Lossesonassetsduetoforcemajeurefactors,suchasnaturaldisasters | ||||
| Reversalofprovisionforimpairmentofreceivablesindividuallytestedforimpairment | ||||
| Gainarisingfromtheexcessofthecostofinvestmentinsubsidiaries,associatesandjointventuresoverthefairvalueoftheinvestee'sidentifiablenetassetsatthetimeofinvestment | 21,901,496.20 |
acquisition
Netprofitorlossofsubsidiariesfortheperiodfromthebeginningoftheperiodtothedateofconsolidationarisingfromabusinesscombinationunderthesamecontrol
| Gainorlossonexchangeofnon-monetaryassets |
| Gainsorlossesondebtrestructuring |
| One-timecostsincurredbytheenterpriseduetothefactthattherelevantbusinessactivitiesarenolongercontinuing,suchasexpendituresfortherelocationofemployees |
| One-timeimpactoncurrentprofitorlossduetoadjustmentsintax,accountingandotherlawsandregulations |
| One-timerecognitionofshare-basedpaymentexpensesduetothecancellationormodificationoftheshareincentiveplan |
Forcash-settledshare-basedpayments,gainsorlossesarisingfromchangesinthefairvalueofemployeecompensationpayableafterthefeasibledateofentitlement
| Gainsorlossesarisingfromchangesinthefairvalueofinvestmentpropertiessubsequentlymeasuredusingthefairvaluemodel | ||||
| Gainsorlossesarisingfromtransactionswherethetransactionpriceissignificantlylessthanfairvalue | ||||
| GainsorlossesarisingfromcontingenciesnotrelatedtotheCompany'snormalbusinessoperations | ||||
| Custodyfeeincomefromentrustedoperations | ||||
| Non-operatingincomeandexpensesotherthantheabove | 696,245.94 | 1,538,566.49 | -9,377,752.06 | |
| Othergainsandlossesitemsthatfitthedefinitionofnon-recurringgainsandlosses | ||||
| Less：Impactofincometax | 45,731,889.540 | 24,244,688.81 | 10,896,170.83 | |
| Amountofinfluenceofminorityshareholders'equity(aftertax) | 43,407.13 | -190,142.07 | -579,840.70 |
| Total | 272,287,723.20 | 129,635,801.81 | 44,581,660.46 |
Fortheitemsrecognizedasmaterialnon-recurringprofitandlossitemsandamountnotlistedinthe"InterpretiveAnnouncementNo.1onInformationDisclosureofCompaniesOfferingSecuritiestothePublic-Non-recurringGainsandLosses",andthenon-recurringprofitandlossitemsdefinedbythecompanyinaccordancewiththe"InterpretiveAnnouncementNo.1onInformationDisclosureofCompaniesOfferingSecuritiestothePublic-Non-recurringGainsandLosses",andthenon-recurringgainsandlossesasenumeratedinthe"InterpretiveAnnouncementNo.1onInformationDisclosureofCompaniesOfferingSecuritiestothePublic-Non-recurringGainsandLosses"aredefinedasrecurringprofitandlossitemswiththereasonsstated.
□Applicable√Non-applicableXI.ItemsMeasuredbyFairValue
√Applicable□Non-applicable
Unit：YuanCurrency：RMB
| Item | OpeningBalance | EndingBalance | ChangesinCurrentPeriod | ImpactonCurrentProfit |
| Equityinstrumentinvestments | 872,066.52 | 0.00 | -872,066.52 | 1,084,311.90 |
| Short-termfinancialproducts | 300,000,000.00 | 1,050,000,000.00 | 750,000,000.00 | 38,441,251.62 |
| ReceivablesFinancing | 1,039,933,314.87 | 2,659,789,309.01 | 1,619,855,994.14 | 208,778.83 |
| Total | 1,340,805,381.39 | 3,709,789,309.01 | 2,368,983,927.62 | 39,734,342.35 |
XII.Other
□Applicable√Non-applicable
Section3ManagementDiscussionandAnalysis
Ⅰ.DiscussionandAnalysisofOperatingConditions
Throughoutthereportingperiod,theCompanysuccessfullynavigatedeconomicfluctuationsand
industrychallenges,consistentlyenhancingitsoperationalefficiencyandbusinessperformance.
Leveragingtheadvantagesofitsdiverseproductofferingsintheintelligentelectricvehiclesector,along
withrobustresearchanddevelopmentcapabilitiesandaninnovativebusinessmodel,theCompany
experiencedsignificantgrowthinsalesrevenueandprofitduringtheReportingPeriod.Furthermore,all
operationalandmanagementactivitiesdemonstratedpositiveprogress,asoutlinedbelow:
(1)Marketingandsales.TheinnovativeTier0.5businessmodeladoptedbythecompanyhasgarneredwidespread
acceptanceandrecognitionfromcustomers,leadingtoanotableincreaseinthenumberofancillary
productsandtheirassociatedvalues.ThismodelhasenhancedthequalityofQSTPproductsand
servicesofferedtocustomers,consistentlygeneratingvalueandachievingexemplarysuccessinits
cooperativeapproach.Thecompanyupholdsacooperationphilosophycenteredon“quickresponseand
all-outcooperation”,whichhasreceivedhighpraisefromstrategicclientsandpresentssignificant
opportunitiesforfuturebusinessexpansion.Domestically,thecompanyhasbeenstrengtheningits
partnershipswithautomotiveenterprisessuchasHuawe-Seres,LiAuto,NIO,Chery,GreatWall,
Xiaomi,BYD,Geely,andXiaopeng,resultinginacontinuousriseintheamountpervehicle.
Internationally,thecompanyhasinitiatedextensivecollaborationsinthenewenergyvehiclesectorwith
innovativeAmericanautomotivefirmslikeA-CustomerandRIVIAN,aswellasestablishedcompanies
suchasFORD,GM,STELLANTIS,BMW,andMERCEDES-BENZ.
Thestrategyofproductplatformizationisprogressingsteadily.Leveragingresearchanddevelopmentinnovationalongsidedigitalintelligencemanufacturingcapabilities,thecompany'scompetitivenessininteriorfunctionalparts,lightweightchassis,andthermalmanagementcontinuestoenhance,withsalesrevenueshowingconsistentgrowth.Ordersforautomotiveelectronicproductsarebeginningtomaterialize,andprojectssuchasairsuspension,cabincomfortactuator,IBS,andEPSaregraduallyenteringmassproduction,particularlytheairsuspensionproject,whichisexperiencingrapidgrowthandestablishingasolidfoundationforthecompany'slong-termdevelopment.Thecompanyhasimplementedanacceleratedstrategyforinternationalmarketexpansion.TheinitialphaseoftheprojectinMexicoisnowfullyoperational,andpreparationsforthesubsequentphaseareunderway.Similarly,theplanningforthesecondphaseofthefacilityinPolandisinprogress,whichwillfacilitateanincreaseinordersfromEurope.Concurrently,thecompanyisactivelydevelopingitspresenceintheSoutheastAsianmarket,withexpeditedplanningandpreparationforaproductionbaseinThailand.Thisinitiativeaimstoenhancetheinternationalgeographicaldistributionofthecompanyandestablishacomprehensiveoverseasproductline,enablingaflexibleresponsetotheevolvinginternationaltradelandscapeandmitigatingrisks.Additionally,itseekstobroadentheinternationalcustomerbaseandexpandtheoverseasautomotivebusiness,whileleveragingcostadvantagestoimproveeconomicefficiency.Furthermore,thecompanyhascommencedtheacquisitionofWuhuChangpengAutoPartsCo.,Ltd.withtheobjectiveofincreasingitsmarketshareininteriorproductsandsolidifyingitsleadershippositionwithintheindustry.Byutilizingitsestablishedoperationalandmanagementexpertise,alongwithrobustverticalintegrationcapabilities,thecompanyanticipatesasignificantboostinprofitabilityandthealleviationofsupplychaincapacityconstraintsforitscustomers.
(2)R&Dandinnovation.
Duringthereportingperiod,theCompanyhascontinuedtoinvestinR&DandallocateresourcestomaintainitsleadingpositioninR&D.TheR&DexpensesfortheyearreachedRMB1224million.AsaresultofcontinuousR&Dinvestment,theCompanyhassuccessfullymass-produceditsairsuspensionsystem,cabincomfortactuator,IBS,EPS,electricdrivesystemandotherprojects.Theproductlineisexpandingsteadily.
Asafundamentalelementwithasignificanttechnicalthresholdinthechassissuspensionsystem,theballjointplaysacrucialroleintheoverallhandlingstabilityofthevehicle.Itsintricatedesignmustendurehigh-intensityimpactsundervariouscomplexoperationalconditions,includingsteeringandbraking.Aftertwodecadesofdedicatedresearchanddevelopment,thecompanyhassuccessfullyconductedarangeofrigoroustestsandvalidations,establishingitselfasthefirstdomesticsupplierofglobalcontrolarmscertifiedbyclients.Thecompanyhasindependentlydevelopedforgedaluminumballhingecontrolarmproductsthatnotonlyfulfillthestringentlow-torqueperformancerequirementsofcustomersbutalsodemonstrateexceptionaldurability,achievingzerofailuresin6millionwearandteartests,thusmeetingthedemandingtechnicalstandardssetbyclients.
Duringthereportingperiod,thecompanyalsoachievedsignificantmilestonesinautomotiveelectronics.ItbecamethefirstenterpriseinChinatoachievelarge-scalemassproductionandsupplyofClosedAirSuspension(C-ECAS),resultinginasteadyincreaseinneworders.TheintelligentdoordrivesystemdevelopedbythecompanyhasbeenimplementedinmodelssuchastheAITOM9,effectivelyreducingoperationalnoiseandsignificantlyoptimizinginteriorspace,therebyenhancingtheoveralldrivingexperienceforusers.
Furthermore,theIntelligentBrakeSystem(IBS)hasmadenotableadvancements,withseveralprojectsenteringmassproduction.TheHongqiNEV,equippedwiththeadvancedIBSbrakingsystem,achievedanimpressivebrakingdistanceof29.68metersina100kmbrakingdistancetest,thankstothecompany'sself-developedcorecomponentsandthemeticuloussoftwarealgorithmscraftedbyateamofhundredsofsoftwareengineers.Tofurtherenhanceproductcompetitiveness,thecompanyhasinitiatedtheresearchanddevelopmentoftheIBS2.0version,whichaimstoprovideimprovedcost-effectiveness.
Regardingproductqualityandindustrycertifications,thecompany'sintelligentbrakingsystem,whichfeaturesredundantbrakingunits,hassuccessfullyobtainedISO26262-ASILDfunctionalsafetycertification,ASPICE-LEVEL2certification,andIATF16949qualitymanagementsystemcertification,andisintheprocessofachievingISO26262-ASILBfunctionalsafetycertification.Intherealmoftechnologydevelopmentandintellectualproperty,thecompanyholds31softwarecopyrightsalongwithseveralinventionandutilitymodelpatents.
(3)SetupofElectricDriveDivision
Withtheswiftadvancementofscienceandtechnology,theconceptofembodiedintelligenceinroboticsistransitioningfromasciencefictionideaintoatangiblereality,emergingasasignificantcatalystforthetransformationofvariousindustries.In2025,embodiedintelligenceinroboticswasofficiallyincludedinthe“GovernmentWorkReport”forthefirsttime,signifyingitsanticipatedcrucialroleinthefuturedevelopmentoftheindustry.Roboticsisahighlypromisingemergingindustryintoday'ssociety,withapplicationsinintelligentmanufacturing,medicalcare,andservices.Ithasthepotentialtoliberatelaborandimprovethequalityofhumanlife.Basedonpredictionsfrominstitutions,itisanticipatedthatrobotswillreplacehundredsofmillionsofjobsworldwideinthefuture.Theglobalroboticsindustryhasthepotentialtoreachacapacityofuptoonehundredtrilliondollars,indicatingavastmarketspaceandexemplifyinganeweraofproductivity.WiththerapidadvancementofAIandotherinnovativetechnologies,alongwithanagingpopulation,theroboticsindustryisexperiencingaperiodofrapidgrowth.ThecompanyhasresearchedanddevelopedtheIBSproject,focusingontheintelligentbrakesystem.Asaresult,theyhaveacquiredaprofoundtechnicalexpertiseinvariousareassuchasmachinery,decelerationmechanism,motor,electriccontrol,andsoftware.Thishasallowedthemtoexpandtheirbusinesshorizontallyintootherareassuchasthermalmanagementsystem,intelligentsteeringsystem,airsuspensionsystem,cabincomfortactuator,androboticelectricactuator.Roboticactuators,whichconsistoflinearactuatorsandrotaryactuators,arecrucialcomponentsofrobots.Theseactuatorsneedtomeetspecifictechnicalrequirementssuchaslightweight,miniaturization,andlow-powerconsumptioninordertosimulatehumanmotionsandachieveMDOFflexibility.However,attainingthesegoalsrequiresovercomingnumerousengineeringdesignlimitationsandintegratingvariouscomponentssuchasmotors,reductionmechanisms,sensors,encoders,drives,controllers,andcommunicationsystems.Consequently,thestructureandtechnologyinvolvedinroboticactuatorsarecomplexandintense.
Thecompany'scorestrengthsintherobotactuatorbusinesslieinseveralkeyareas.Firstly,theypossessthecapabilitytoindependentlydevelopvarioustypesofmotors,includingpermanentmagnetservomotorsandframelessmotors.Secondly,theyhaveexperienceinintegratingmotors,gearheads,andcontrollers.Thirdly,theyhaveprecisionmachiningcapabilities.Lastly,theyhavetheabilitytosynergizedifferentresearchanddevelopmentresourcesaswellastestingresources.Thesecorestrengthsenhancethecompany'sstrongcompetitivenessinthefield,enablingthemtosecurealargermarketshare.
Thecompanyandthecustomercommencedtheircollaborationonthelinearactuator,leveragingthecompany'sextensiveR&DexperienceinIBS,whichquicklygarneredpositivefeedbackfromthecustomer.Subsequently,thedevelopmentofrotaryactuatorswasinitiated,followedbythecreationofdexteroushandmotorsandotherrelatedproducts.Thecompanyhasrepeatedlysentsamplesofitselectricdriveactuatorsandrotaryactuatorsforrobotstocustomers,whichinturngivesitrecognitionandpraise.Thishasledtorapidprogressintheproject.
Tosimulatehumanmovement,eachrobotrequiresnumerousmotionactuators,eachvaluedattensofthousandsofRMB.Themarketpotentialfortheseactuatorsisimmense.Recognizingtheopportunityintherobotindustry,thecompanyhasstrategicallydecidedtosetuptheElectricDriveDivision.Thisdivisionwilloperateindependentlywithitsownmanagementstructureandaskilledprofessionalteam.Additionally,thecompanywillintegratevariousadvantageousresourcestocreatefavorableconditionsforthedivision'srapiddevelopment.
ThesetupoftheElectricDriveDivisionreflectsthecompany'sdynamicadjustmentandimplementationofitsstrategy.Byleveragingadvantageousresourcesandassemblingatalentedteam,thecompanyaimstofocusonitscorebusinessandprovidestrategicprotectionforitsdevelopment.
Whiledevelopingeightproductlinesforintelligentelectricvehicles,thecompanyiscapitalizingontherapidgrowthoftherobotindustry.Itisprioritizingandexpandingkeyproductsandcoretechnologieswithintherobotindustrychain.Thisapproachallowsforsynergisticdevelopmentbetweenthebusinessofintelligentautomobilecomponentsandthebusinessofrobotcomponents.Ultimately,thislaysasolidfoundationforthecompany'ssustainedrapidgrowth.
(4)Full-onenhancementoftheR&Dandmanufacturingcapacityofthermalmanagementsystem
ThecompanyhascomprehensivelybuiltuptheR&Dandmanufacturingcapacityofthermalmanagementsystemmodulesandcomponents.Wehavedevelopedvarioustypesofmulti-wayvalves,electronicexpansionvalves,electronicwaterpumps,valveplates,radiators,gas-liquidseparatorsandotherproducts.
Thenewgenerationofnine-wayelectronicwatervalveisthecorecomponentofthermalmanagement.Throughinnovativedesignandintegrationofintelligentdiagnosticfunctions,itrealizesthecouplingandprecisedistributionofenergyinmultiplescenarios,helpingtoincreasethevehicle'swinterrangebymorethan20%,whilethesystemreducescostsbymorethan30%.Thecompanyhasbuiltanindustry-leadingelectronicwatervalveproductmatrix(2-wayto9-way),whichcomprehensivelycoversthediversifiedthermalmanagementneedsofnewenergyvehiclesandprovidescustomerswithcost-effectivesystemsolutions.ElectronicExpansionValve(EEV)isthecorecomponentofthermalmanagement.Thecompanyhascompletedafullrangeofproductlayout,coveringlarge,mediumandsmallcaliberspecifications.Theflexiblecombinationofcoilandspoolisrealizedthroughmodulardesign,whichsignificantlyshortensthedevelopmentcyclebymorethan30%andreducesthecomprehensivecostbyabout25%.Nowwehaveformedthethreecoretechnologyadvantagesof“fastresponse,preciseregulation,reliableperformance”,offeringefficientsolutionsforthermalmanagementsystem.RelyingonitsstrongR&Dstrength,thecompanyhassuccessfullyrealizedtheself-researchofthecoresub-componentsofthethermalmanagementsystemversion2.0module.Thisachievementnotonlyhighlightsthecompany'stechnologicaladvantagesinthefieldofthermalmanagement,butalsobringssignificantvalueenhancementtousersthroughoptimizingthesystemdesign:
1.Rangeupgrade:throughintelligentregulation,thesystemcanincreasetherangebymorethan20%underextremeworkingconditionssuchaswinter,whichsignificantlyimprovestheefficiencyofthevehicle.
2.Lightweightdesign:adoptingnewmaterialsandstructuraloptimization,thesystemachievesanoverallweightreductionof25%,whichreducesenergyconsumptionandimprovesthehandlingperformanceofthevehicleatthesametime.
3.Intelligentcontrol:Thethermalmanagementcontrolleradoptsintegrateddesign,cansupportOTAremoteupgrade,andcanadaptivelyadjustenergyconsumptionaccordingtodifferentworkingconditions,providinguserswithamoreconvenientandefficientexperience.
4.Enhancedreliability:Byoptimizingthesystemlayoutandreducing30%ofrefrigerantandcoolantpiping,iteffectivelyreducestheriskofleakageandimprovesthestabilityandreliabilityofthesystem.
5.Quietoptimization:theuseofadvancedvibrationisolationtechnology,modulevibrationisolationrateofmorethan20dB,significantlyimprovingthevehicle'sNVHperformance,creatingaquieterandmorecomfortabledrivingenvironmentforusers.
Furthermore,thelatestgenerationoffullyintegratedmodulesandR290refrigerantsystemmoduleshasachievedsignificanttechnicaladvancements.Thecompany'sexpertiseinthermalmanagementsystemshasnowreachedunprecedentedlevels,enablingtheprovisionofsuperiorqualityandmorecomprehensivesolutionstocustomers.
IntherealmofDigitalIntelligentManufacturing,byeffectivelyutilizingvarioussystemsimulationsoftwarealongsidethecompany'sextensiveexperienceinautomotiveelectronics,thefirstelectronicheatpumpproductionlinewasestablishedwithinamerefourmonths,earningcustomerapprovalinareassuchasautomation,visualinspection,producttraceability,andqualitycontrol.Additionally,thecompanylauncheditsinauguralfullyautomateddigitalizedflexibleproductionlineforelectronicexpansionvalves,capableofproducingadiverserangeofelectronicexpansionvalveproducts,whichsuccessfullydeliveredover500,000unitswithinthesameyearofoperation.Tofurtherenhanceproductioncapacity,thecompanyhasestablishedthermalmanagementproductionfacilitiesinMexico,Poland,andThailand.
(5)Capacitylandscaping.
Basedontherecentdirectivesfromthecompany,alongwiththeanticipatedincreaseinthepenetrationofNEVs,thecompanyispersistentlyexecutingcapacitylayoutandconstructioninitiatives.Throughoutthereportingperiod,thedevelopmentofHangzhouBayPhasesVIIIandIX,alongwithfacilitiesinJinan,Henan,andMexico,isadvancingsteadily.
Intheshortrun,theinvestmentandconstructionofthesefactoriesareexpectedtoimposeacertaincostpressure.InthetimesofNEVrapiddevelopment,eventhoughcarmakershavesomecapacityavailable,thesupplychainofpartshasnotyetkeptupwiththepace.Inthisconcern,thecapacityboosthasbeenweighedanddecidedasappropriatewithimpressiveforward-lookingcharacter.
(6)Costcontrol.
Duringthereportingperiod,rawmaterialsfluctuateddrasticallyandlaborcostsincreasedsignificantly.TheCompanyscaleduppurchasing,rantechnologicalinnovation,andperformedstrict
budgetcontrolinordertohavecostundercontrol.Thankstotheseefforts,thecompanyconsistentlyadvocatesforcostreductioninitiativesandefficiencyimprovements,andenhancesoperationalperformance.Withnewfactoriesbuilteveryyear,theoverheadandmanufacturingexpensesarehigherintheprocessofproductionramp-upandtrialproduction,theaveragecostofafacoryisaroundtensofmillionsofyuan.Asanewfactoryreachestheinitialproductioncapacityandcomesatthebreak-evenpoint,itwouldmakeagreatercontributiontothegroup’sprofit.
ManyresearchprojectsinprocessandalargenumberoftechnicaltalentsledtorapidincreaseofR&Dexpenses.Thedemandforcapacityboostresultedinasharpincreaseofcapitalexpendituresandhigherratiosofdepreciationandamortization.Infuture,thevolumeproductionandsalesgrowthareexpectedtospreadR&Dcost,capitalexpendituresandmiscellaneouscost,andthereismoreroomforgrossmargin.
Asthecompanyhasmoreprojectsinresearchanddevelopmentandhasbroughtinalargenumberoftechnicaltalents,theR&Dexpenseswereelevatedfaster.Inaddition,duetothecompany'scapacityexpansionneeds,capitalexpenditureshaverisensharply,anddepreciationandamortizationratioishigh.Inthefuture,withthemassproductionofproductsandsalesgrowth,willbedilutedR&Dcostsanddepreciationandamortizationandothercosts,grossmarginlevelhascontinuedtoimprovethespace.
(7)Manufacturingupgrade.
TheCompanyproceedsdigitalfactory,implementsMESmanagementsystem,enableseffectivemanagementinrespectofqualitycontrol,producttraceability,leanproduction,equipmentmanagement,andpromotestheinterconnectivitybetweenthecompany-widedataandcustomerdata,inordertobuildansmartfactoryaccreditedwithIndustry4.0.
NewsfactoriesleveragevirtualsimulationDFMtoconductfull-scalesimulationsonquality,traceability,automation,visualinspection,energyutilization,carbonemissionstoensurethehighestlevelofproductqualityandcost,andreducethedurationofvolumeproductiontotheextentpossible.
(8)Sustainabledevelopment.
Thecompany'smanagementplacessignificantemphasisontheestablishmentofanESGsystem,prioritizingthedevelopmentofasustainablemanagementframeworkforESG.ToupholditscorporateESGresponsibilities,thecompanyiscommittedtoadvancinggreenandlow-carbonproductionpractices,therebyfulfillingitssocialobligationsrelatedtoenergyconservation,lowcarbonemissions,andenvironmentalprotection.Thecompanyhasconsistentlyexpandeditsphotovoltaicinstalledcapacity,resultinginasteadyincreaseinannualpowergeneration.In2024,thenewlyinstalledphotovoltaiccapacityisprojectedtobe14.45MW,bringingthetotalcapacityto142MW,withanannualpowergenerationcapacityof145,160,000kWh,whichisexpectedtoleadtoareductionof144,731tonsinannualcarbondioxideemissions.
Thecompanywillpersistinitseffortstopromotegreendevelopment,embeddingtheprinciplesofsustainabledevelopmentthroughoutitsoperations,activelytakingaleadershiproleintechnologicalinnovation,andcontinuouslyimplementingmeasurestolowercarbonemissions,withtheultimateaimofachievingzero-carbonfactories,contributingtothegoalsofcarbonpeakandcarbonneutrality.
(9)Refinancing.
TheCompany'srefinancinginitiativewasfinalizedinJanuary2024,yieldingnetproceedsofapproximatelyRMB3,498million.ThisissuanceisexpectedtobolstertheCompany'sfinancialstability,enablingittocapitalizeontheburgeoningmarketforintelligentelectricvehiclesandtosupporttheswiftadvancementofvariousprojects.Inthefirstquarterof2025,theCompanyexecutedtheconversionandredemptionofconvertiblebondsincompliancewithapplicableregulations,therebyfurtherstrengtheningitspositionandloweringthegearingratio.AstheCompany'ssalesandprofitsexperiencesignificantgrowth,thenetoperatingcashflowisanticipatedtograduallymeetandsurpasscapitalexpenditures,leadingtoadecreaseintheneedforexternalfinancing.II.Industrylandscapingduringthereportingperiod
In2024,itisprojectedthatworldwidesalesofpassengercarswillreacharound74.602millionunits,reflectingayear-on-yearincreaseof2.5%.InChina,salesareexpectedtobeapproximately
27.535millionunits,markinga5.9%risecomparedtothepreviousyear.Furthermore,globalsalesofnewenergypassengervehiclesareanticipatedtobeabout16.934millionunits,representingasignificantyear-on-yeargrowthof24.4%,whichwillconstitute22.7%ofthetotalglobalsales.Withinthissegment,China'snewenergypassengervehiclesalesareestimatedtobearound12.260millionunits,
showingaremarkableyear-on-yearincreaseof36.6%,andaccountingfor44.5%ofthedomesticmarket.III.BusinessoperationsengagedbytheCompanyduringthereportingperiod
1.MainoperationsTheCompanyspecializesintheresearchanddevelopment,productionandsalesofautoparts.ThemainproductsincludeAutomobileVibrationControlSystem,Interior&ExteriorSystem,BodyLightweightProducts,CabinComfortSystem,ThermalManagementSystem,ChassisSystem,AirSuspension,IntelligentBrakingSystem.ThemajorcustomersitservesincludeinternationalanddomesticsmartelectriccarmakersandtraditionalOEMcarmakersathomeandabroad.Furthermore,thecreationoftheElectricDriveDivisiontoventureintotheembodiedintelligentroboticssectorrepresentsasignificantstrategicinitiativeforthecompany.Thisdomainofembodiedintelligentroboticsholdsvastpotentialfordevelopment,therebybroadeningtheroboticsbusinessandestablishinganewtrajectoryforgrowthwithinthecompany.Inlinewiththebusinessphilosophyofcreatingvalueforcustomers,theCompanyadherestoR&Dandinnovation,boostsgloballandscaping,enhancesoverallcompetitiveness,andstrivestobeamoretrustedpartnerforcarmakers.
2.Businessprocessandoperationpattern
IV.Analysisofcorecompetitivenessduringthereportingperiod
√Applicable□Non-applicableInthecourseof40yearsafterfounding,theCompanyhasbeenconsistentlyenhancingoverallcompetitiveness,raisedthecompetitionthresholdandshapedamoat.
1.Strengthofproductplatform.Keepingupwiththetrendofindustrydevelopment,theCompanymakesaprospectivedistributionofNEVstrack,expandsitsproductlines,andformsaplatform-basedcorporation.Nowitowns8productlines:AutomobileVibrationControlSystem,Interior&ExteriorSystem,BodyLightweightProducts,CabinComfortSystem,ThermalManagementSystem,ChassisSystem,AirSuspensionSystem,IntelligentBrakingSystem.Theunitpriceofcomponentspervehicleisabout30,000andthereissomeroomtoexpandtheproductline.
Thecompanyisalsolayingoutproductssuchaselectricdriveactuatorsforrobots,whichholdsasignificantpotentialforthemulti-billion-dollartrackofmankind'sfuture,offeringbroaddevelopmentprospects.TheCompanyhasawiderangeofproductlineswhichcanprovidecustomerswithone-stop,system-gradeandmodularizedproductsandservices,andsomeproductsarescarceandhardlybenchmarkedintheglobalmarketofautomobileparts.Intheeraofindustrialtransformationandbusinessmodelinnovation,laborcollaborationwithcustomerscaninturnenhancecustomersatisfactionandpavethewayforgettingbiggerandstronger.
TheCompanyhasawidearrayofproductlinessuchassuspensionsystem,IBSandEPS,impressivechassistuningcapabilities,andrequisitefactorstointegratedrive-by-wirechassisandskateboardchassis.Drive-by-wirechassisisanessentialconditiontorealizehigh-levelautopiloting.Incontrast,skateboardchassiscancreateanewcar-makingmodelfeaturingfasterspeedofmakingandlowercost.Withaprovenabilitytorenderfurtherservicestocustomers,theCompanyishighlyresponsivetothetechnologydevelopmenttrendofvehicleE/Econtrolarchitectureandsub-domaincontrolandthecreativecar-makingmodelthatmayappear.
Theproductlinesarebrieflydescribedhere:1.VibrationControlSystem,comprisingpowertrainmountsupport,drivemotordamper,cylindersupport,torsionaldamper,sub-framesupport,andhydraulicbushing;2.Interior&ExteriorSystem,comprisingautomobiledoorpanel,roof,maincarpet,coatrack,heatandsoundinsulationcomponents,luggageinsulationcomponents,andexteriortrimproductssuchassealingstripsanddecorativestrips;3.BodyLightweightProducts,comprisingone-piecefrontandrearfloorpanels,bodystructuralpart,doorstructuralpart,andbatterypackstructuralpart;4.CabinComfortSystem,comprisingrotaryscreencontroller,electrictailgate,electricslidingdoor,andseatcomfortsystem;5.ThermalManagementSystem,comprisingintegratedheatpumpassembly,multi-portvalve,electronicwaterpump,andelectronicexpansionvalve;6.ChassisSystem,comprisingfrontandrearsub-frames,aluminumsub-frame,controlarms,rods,andsteeringknuckles;7.AirSuspensionSystem,comprisingintegratedairsupplyunit,airsuspension,andheightsensor;8.IntelligentBrakingSystem,comprisingIBS,EPS,andpower-adjustablesteeringcolumns.
Inthedomainofrobotics,thisencompasseslinearactuators,rotaryactuators,motorsfordexteroushands,sensors,structuralcomponentsofthecarapace,footshockabsorbers,andelectronicflexibleskin.
2.StrengthofforwardR&Dandcross-domaincapabilitybuilding.
Theenhancementofresearchanddevelopment(R&D)andinnovationcapabilitiesisessentialforbecomingaworld-classautopartsmanufacturer.ThecompanyhasconsistentlyprioritizedR&Dandinnovation,havingpioneeredtheforwardR&Ddevelopmentstrategyintheindustrytwodecadesago.Withyearsoftechnologicaladvancement,thecompanynowpossessesthecapabilitytosynchronizeforwardR&Dacrossallproductlinesatasystemiclevel,integratingmaterials,machinery,electroniccontrol,andsoftware.Thishasresultedinasignificantportfolioofinventionpatentsandotherformsofindependentintellectualproperty.Thecompanyremainscommittedtoinvestinginsystemdevelopment,talentacquisition,andexperimentalcapabilities,withannualR&Dexpendituresaveragingaround5%ofoperatingincome.ThisongoinginvestmentenhancesR&Dcompetitivenessandsupportstheexpansionoftheproductline,layingthegroundworkforachievingtechnologicalexcellenceatTuopu.
TheestablishmentofR&DcentersinNorthAmerica,Europe,Shenzhen,andNingboenablesthecompanytobetterserveglobalclientsandattracttop-tiertalentfrombothdomesticandinternationalmarkets,culminatinginaresearchteamofover4,000individuals,includingnearly200withadvanceddegrees.
ByleveragingitsproactiveR&Dphilosophiesandpractices,thecompanycontinuouslydevelopscross-domaincapabilitiesandstrengthensitscompetitiveedge.
(1)Thecompanyhasdevelopedacomprehensivecapabilityinmaterials,machinery,motors,solenoidvalves,andelectronichardwareandsoftware.Followingyearsofresearchanddevelopment,ithasevolvedfrombasicmaterialandmechanicalR&Dtoencompassessentialcomponentssuchasmotorsandsolenoidvalves,ultimatelyachievingproficiencyinelectronichardwareandsoftwaredevelopment.Intherealmofmaterials,thecompanyinitiateditseffortswithfundamentalresearch,focusingonthedevelopmentofvariouslightweight,eco-friendlyinteriormaterials,high-performancerubberformulations,andlightweightalloymaterials.Itemploysaging,quenching,andotherheattreatmentprocessestoenhancematerialperformance.Formechanicalproductdesign,thecompanyutilizesarangeofdesignsoftware,includingfiniteelementanalysisandkinematicssimulationtools,tocreatestructuraldesignsforvariousproductsandmolds.Additionally,itconductselectromagneticfieldanalysisforcorecomponentslikemotorsandsolenoidvalves,ensuringtheirreliableoperationacrossdiverseenvironmentsthroughrigoroustestingofsoftandhardmagneticmaterials,aswellasflowandtemperaturefieldanalysis.ThedevelopmentofelectronichardwareandsoftwareadherestoISO26262andASPICEstandards,employingV-typedesignmethodologiesandALMsoftwareforprojectmanagement.ThecompanyhasachievedISO26262certificationforfunctionalsafetyandASPICEprocesscertification,withnumerousproductsreceivingASILDfunctionalsafetycertificatesandASPICELevel2productcertifications.
(2)Ongoingdiversificationofproductofferings.Leveragingthecompany'srobustresearchanddevelopmentcapabilities,itconsistentlybroadensitsproductrange,establishingeightprimaryproductlineswithintheautomotivepartssector,withpotentialforfurtherexpansion.Intheroboticssector,thecompanysimilarlycontinuestoenhanceitsproductofferingsinalignmentwithitsplatform-basedproductstrategy.
(3)Additionally,thecompanypossessescomprehensiveexpertiseinvariousmanufacturingtechnologies,encompassingrubberinjectionmolding,multi-componentfibermolding,hydroentanglement,needle-punchingfabricmolding,injectionmolding,watercutting,forging,andvariouscastingtechniques,aswellasstamping,welding,electrophoresis,high-precisionCNCmachining,SMTassembly,packagingtesting,end-of-lineheliuminspection,andnumerousautomatedassemblyprocesses.
(4)Theorganizationhasestablishedapremierexperimentalcenterglobally,featuringadvancedfour-wheeldrumtestingfacilities,anEMClaboratory,andotherstate-of-the-artequipment.Itpossessestestingandvalidationcapabilitiesatthematerial,product,system,andvehiclelevels,certifiedundertheISO/IEC17025standardbyCNAS.Consequently,numerousautomotivemanufacturershaveentrustedtheorganizationwithconductingvehicle-levelexperiments.
(5)Additionally,thecompanyboastsself-sufficientresearchandmanufacturingcapabilitiesforavarietyofmoldsandequipment.Themoldsthatcanbedesignedandproducedin-houseencompassrubberinjectionmolds,plasticinjectionmolds,interiormoldingandplasticabsorbingmolds,stampingmolds,forgingmolds,andvariousdie-castingandsandcastingmolds.Furthermore,thecompanyhasdevelopedandmanufacturedanarrayofproductionlines,includingIBSautomatedproductionlines,EPSautomatedproductionlines,airsuspensionautomatedproductionlines,andballhingeautomatedproductionlines,therebysignificantlyenhancingitscompetitiveedge.
3.Strengthofcustomergroupandbusinesspattern.
Byassumingtheresponsibilityofdeliveringvaluetocustomers,thecompanyhasgarneredsignificantrecognitionduringitscollaborativeefforts,leadingtoanincreaseinthepopularityandreputationoftheTuopubrand,aswellasenhancedcustomerloyalty.Intheeraofintelligentelectrification,leveragingthecorecompetenciesdevelopedthroughthecompany'sQSTP,ithasforgedstablepartnershipswithbothinternationalanddomesticinnovativeautomotivefirms,aswellasmajortraditionalOEMs.
ThecompanyadoptsaTier0.5cooperationmodel,establishingstrategicallianceswithitsclients.Thisinnovativesupplychaincollaborationframeworkenhancesefficiencyandreducescostsforautomotiveenterprises,aligningwiththecurrentdevelopmentaldemandsoftheautomotivesectorandpresentingasubstantialcompetitivebarrier.Thecompanyoffers“quickresponseandall-outcooperation”servicestoitsstrategicpartners,whichhavebeenacknowledgedandcommendedbyclients,therebyestablishingafoundationforachievingsupportcooperationatthelevelofmillionsofvehicles.
4.Strengthofplantlayoutandcapacity.
TheCompanyhassetupmanufacturingbasesinNingbo,Chongqing,WuhanandotherplacesencirclingmajorautomobileindustryclustersinChina.Torenderbetterservicestoglobalcustomers,theCompanyhasestablishedmanufacturingplantsintheUnitedStates,BrazilandMalaysia,Poland,MexicoandThailand.Underthisplantlayout,theCompanyisabletorenderfasterandmoreefficientservicestoitscustomersandguaranteethebusinessdevelopmentonglobalplatforms.
ThepenetrationrateofNEVsfeaturesbyarapidincrease,justastheindustryparticipantsexperience,buttheindustrialchaincapacityofNEVsisobviouslyinsufficient,globalautopartmakersareunderaheavyburdenoftransformation,theirinvestmentwillingnessisweak,andtheinvestmentlevelandrateofhomeautopartmakersarenotenough.Accordingtothecompany-specificcapacityrequirementandfutureforecasts,theCompanyisexpectedtobuildupcapacityinordertomaintainitsleadingedgeinproductioncapacity,technology,andequipment.
Inaddition,theautomobileindustryrequiresalarge-suminvestmentintheplantlayout,theconstructionperiodislongandthecomplexequipmentandprocessareinvolved,soitcanhardlybereplacedlikethecellphoneindustrychain.
5.Strengthofintelligentmanufacturing.
Relyingontheintelligentmanufacturingstrategyandpinpointingthegoalofbuildingalighthousefactory,theCompanyenhancesthedigitalizationofthefactory,andfabricatesasmartfactory.
LeveragingDFMvirtualsimulationtechnology,theCompanysimulatesfactorylayout,productionlinedesign,productionprocess,parametercontrol,visualinspection,takttime,distributionandwarehousing,energysavingandconsumptionreductioninthestageofproductsupplyingandR&D,whichinturnsharplyreducesthedurationofvolumeproduction,improvesqualityandreducescost.
TheCompanyhassetupanequipmentautomationdivisiontoenhancetheproductionautomation,strengthensqualityassurancecapabilities,increasetheoutputpercapita,andpreparesforbenchmarkingtheinternationallevel.
Theavailabilityofproductionautomation,coupledwithAIvisualinspection,AGVautomaticlogistics,intelligentwarehousingandRFIDbarcodeandtraceabilitysystem,isdrivenbyAI,bigdataanalysis,and5Gtoimproveintelligentmanufacturingcapabilities,ensurequalityandreducecosts.
6.Strengthofmanagement.UndertheIATF16949qualitysystemandstickingtotheintelligentmanagementconcept,theCompanyhasestablishedaspecificmanagementsystemwithtypicalfeaturesthroughyearsofinnovationefforts.
Formanagementstructure,thedivision-basedmanagementstructureislaiddownforthegroup,whichcanrelievethestressofmanagement,highlightthebusinessoperations,improvetheefficiencyofoperation,andleadtorelativecompetition;divisionsaresubjecttothehorizontalflatmanagementwithsalesactivitiesstandinginthecore,formarket-orientedconstructionoftheorganization,poolresourcesandmakequickresponse;underthepyramidorganization,businessunitsenforcestandardprocessestoimproveefficiencyandreducecost.Formanagementsystem,theCompanyhasestablishedafullsetofstandardprocesses,managementsystemsandassessmentindicatorsasdirectedbyprocess,information,standardization,andleanproduction,andisleveragingsomeinformationtoolssuchasSAP,PLM,OA,andMEStoimplementexactprocesses,bringdigitalizedoperationintopractice,therebyimprovingmanagement,decision-makingefficiencyandbusinessperformance.Forincentivemechanism,theorganizationestablishesacareerplatformforitsemployees,grantingthemfullautonomy,encouragingexperimentation,andexhibitingalenientattitudetowardsmistakeswhilealsoaddressingerrorswithcourage.Itpromotestheexplorationofnewmethodsandideaswithinasupportiveenvironment.Thecompanyimplementsinternaltrainingandafairselectionprocessforpersonneltoensureclearpathwaysforadvancement,aligningwithitsdevelopmentstrategytocreateapositivefeedbackloopbetweenbusinessgrowthandemployeedevelopment.
7.Strengthoftalents.
TheCompanyputsthescreeningandtrainingoftalentsinpriority.Thepost-doctoralworkstationwithintheCompanysolicitsandrecruitstechnicalspecialistsglobally.Adheringtotheconceptof“recruitingandpromotingmembersontheirmerits”,andpursuingthespiritof“benchmarkingagainstthebestandstrivingonourowninitiative”,theCompanyiscommittedtobuildingacompetitivemanagementteam.TheCompanyhasestablishedanintegrated,specificandopenfinancialindicatorsystemtotransformofficersfrommanagerstooperatorsandentrepreneurs.
TheCompanyencouragesfortheformationofalearningorganizationthatisfullyauthorized,andforgesayoungandexperiencedinternationalteamspecializedinsales,R&DactivitiesandproductionwhocanpavethewayforleapfrogdevelopmentoftheCompany.
8.Strengthofculture.
TheCompanyundertakesthemissionstatementof“makingourcustomers,employees,shareholders,thecommunityandpartnerssatisfied,andbecomesacorporatecitizenofexcellence.
Aligningwiththebusinessphilosophyofservingthecountrywithindustrialachievements,theCompanystandsattheindustryfront,getsimmersedinR&Dandinnovation,goesallouttosolve“bottlenecking”technicalissues,andcontributionstotheindustrysafetyanddevelopment.Adheringtotheoperationconceptoflegalcompliance,theCompanyundertakessocialresponsibilityandiscommittedtoinfusingpositiveenergyintosocialdevelopment.
TheCompanygivesitsemployeesanaccesstocomfortableworkplace,equalinterpersonalrelationships,appealingsalaryandbenefits,andanextraordinarycareerdevelopmentplatform,inorder
totapintothepotentialsofallemployees.TheCompanyhasestablishedpartnershipswithsuppliers,respectedthebusinessphilosophyofseekingequalityandwin-winresults,anddriventhecommondevelopmentofthesupplychain.TheCompanyprioritizesandsafeguardstheinterestsofitsinvestors,adheresrigorouslytolegalandregulatoryrequirementsincludingthoserelatedtoinformationdisclosure,maintainsaninvestor-centricapproach,andconsistentlyupholdstheprinciplesof"respecting,protecting,andrewardinginvestors".Furthermore,itremainscommittedtodistributingdividendsasameansofrewardinginvestorsamidstongoingincreasesincapitalexpenditures.
9.Strengthofequitystructure.TheCompanyisrunandoperatedbyfounder,whichinturnmaintainstheprudenceofmajordecisions,valueslong-termbenefitsanddevelopment,makesquickdecisionsandassuresgoodexecution.Thefounderholdsahigherpercentageofshares,keepsaclearequitystructure,andexerciseslongstandingcontrolontheCompanyfromthetop-leveldesign,inordertokeeptheCompanyrunningsteadilyforalongtimeandhaveanamplepotentialforcapitalexpansion.ThemembersoftheBoardofDirectorsledbythechairmandemonstrateimpressiveexperience,havecleardivisionofwork,keepalowprofile,keepambitiousandenergetic,andusetheirbestendeavorstodrivetheCompanytotheforefrontoftheindustryintherightway.
10.Strengthofriskcontrol.TheCompanykeepsthedebt-to-equityratioatlowlevelandhasanabundantcashflow.Thewell-establishedfinancialsystemandthestrictriskcontrolsystemcaninturnguaranteetheimplementationofstrategicplanandinvestmentplan,orallowittoseekmergersandexpansionwheneverappropriate,orreducetheriskexposuretobusinessoperation,andmaintainitslong-terminvestmentvalue.V.Conditionofmainoperationsduringthereportingperiod
Duringthereportingperiod,theCompanyearnedanoperatingincomeofRMB26.6billion,anincreaseof35.02%overthepreviousperiod;totalprofitwasRMB3.421billion,anincreaseof38.95%overthepreviousperiod;thenetprofitattributabletoshareholdersofthelistedcompanywasRMB
3.001billion,anincreaseof39.52%overthepreviousperiod.
Inaccordancewithaccountingstandards,theCompanyinitiallyandsubsequentlymeasuredtheconvertiblebondsheldatamortizedcost,andrecognizedfinancecostsofRMB89,545,000andactualinterestexpensespayableofRMB12,368,600forthereportingperiod,which,afterdeductingtheeffectofcorporateincometax,reducedtheprofitoftheperiodbyRMB65,599,900.
Throughoutthereportingperiod,theCompanygeneratedanetcashflowofRMB3.236billionfromoperatingactivities.Additionally,therewasacashoutflowofRMB7.646billionfrominvestingactivities,withRMB3.146billionallocatedtowardsthepurchaseandconstructionoffixedassetsandotherlong-termassets.ThisstrategicallocationaimedtoadequatelypreparetheCompanyfortherapidgrowthofthenewenergyautomobilemarketandenhanceitscompetitivebarriers.
Asoftheendofthisreport,theCompany'stotalassetsreachedRMB37.544billion,reflectingan
22.02%increasecomparedtothepreviousyear-end.Furthermore,totalliabilitiesamountedtoRMB
17.961billion,indicatinga5.93%increasecomparedtotheendoflastyear.Theasset-liabilityratiostoodat47.84%,whiletheowner'sequityattributabletotheparentcompanyamountedtoRMB19.550billion,representinga41.83%increasecomparedtotheendoflastyear.
(1)Analysisofmainbusinessoperations
1.AnalysisofchangesinrelateditemsintheincomestatementandcashflowstatementUnit：YuanCurrency：RMB
| Subject | Amountinthecurrentperiod | Amountinpreviousperiod | Changeaspercentage(%) |
| Operatingincome | 26,600,328,450.94 | 19,700,560,430.00 | 35.02 |
| Operatingcost | 21,066,746,134.44 | 15,189,359,712.02 | 38.69 |
| Costofsales | 274,039,830.25 | 232,582,825.17 | 17.82 |
| Overheadexpenses | 620,867,938.38 | 543,720,741.04 | 14.19 |
| Financialexpenses | 165,684,128.98 | 85,748,537.01 | 93.22 |
| R&Dcost | 1,224,242,543.46 | 986,403,005.39 | 24.11 |
| Netcashflowfromoperatingactivities | 3,236,068,686.84 | 3,365,629,276.74 | -3.85 |
| Netcashflowsfrominvestingactivities | -3,727,762,109.68 | -3,410,258,600.39 | NA |
| Netcashflowfromfinancingactivities | 2,187,197,505.72 | -71,428,358.13 | NA |
Notetothereasonforchangesinoperatingincome:attributedtolargevolumeofordersplacedbydomesticandforeignvaluedcustomerssolicitedbytheCompanyinthecurrentperiodNotetothereasonforchangesinoperatingcost:attributedtoanincreaseofoperatingincomeinthecurrentperiodoverthepreviousperiodNotetothereasonforchangesincostofsales:attributedtoanincreaseinsalesservicefeesandbusinessentertainmentexpensesinthecurrentperiodNotetothereasonforchangesinoverheadexpenses:attributedtoanincreaseofthenumberofmanagementstaff,salarypaidtothem,anddepreciationandamortizationinthecurrentperiodNotetothereasonforchangesinfinancialexpenses:attributedtoadecreaseinexchangegainsinthecurrentperiodNotetothereasonforchangesinR&Dexpenses:attributedtoacontinuousintensificationofR&DandinnovationeffortsandofR&DinvestmentsinthecurrentperiodNotetothereasonforchangesinnetcashflowfromoperatingactivities:attributedtotheincreaseinbankacceptancesreceivedduringtheperiodNotetothereasonforchangesinnetcashflowsfrominvestmentactivities:mainlyattributabletotheincreaseinthepurchaseofstructureddepositsduringtheperiodNotetothereasonforthechangeinnetcashflowfromfinancingactivities:mainlyattributedtotheissuanceofnewsharesduringtheperiodParticularsofmajorchangesinthebusinesstype,profitcompositionorsourceofprofitoftheCompanyduringthecurrentperiod
□Applicable√Non-applicable
2.Analysisofrevenueandcost
√Applicable□Non-applicableTherevenueandcostoftheCompanyin2024canbesummarizedas:
(1).Conditionofmainbusinessoperationsbyindustry,product,regionandsellingpattern
Unit:YuanCurrency:RMB
| Mainbusinessoperationsbyindustry | ||||||
| Byindustry | Operatingincome | Operatingcost | Grossprofitrate | Increase/Decreaseofoperatingincomeovertheprevious | Increase/Decreaseofoperatingcostoverthepreviousyear | Increase/Decreaseofgrossprofitrateoverthepreviousyear |
| (%) | year(%) | (%) | (%) | |||
| Automobileparts | 25,011,816,206.41 | 20,153,411,036.89 | 19.42 | 33.55 | 37.64 | Decreaseby2.40% |
| Mainbusinessoperationsbyproduct | ||||||
| Byindustry | Operatingincome | Operatingcost | Grossprofitrate(%) | Increase/Decreaseofoperatingincomeoverthepreviousyear(%) | Increase/Decreaseofoperatingcostoverthepreviousyear(%) | Increase/Decreaseofgrossprofitrateoverthepreviousyear(%) |
| Vibrationcontrolparts | 4,402,383,937.42 | 3,473,522,334.82 | 21.10 | 2.40 | 6.42 | Decreaseby2.98% |
| Trimmingsystem | 8,433,566,585.15 | 6,905,404,319.92 | 18.12 | 28.24 | 31.11 | Decreaseby1.79% |
| ChassisSystem | 8,202,682,256.25 | 6,527,694,539.52 | 20.42 | 33.98 | 38.55 | Decreaseby2.62% |
| Mechatronicsystem | 1,820,105,263.90 | 1,466,640,821.65 | 19.42 | 907.63 | 935.95 | Decreaseby2.20% |
| Thermalmanagementsystem | 2,139,650,790.86 | 1,773,556,540.54 | 17.11 | 38.24 | 40.98 | Decreaseby1.61% |
| Electivedrivesystem | 13,427,372.83 | 6,592,480.44 | 50.90 | 624.11 | 1,796.10 | Decreaseby30.35% |
| Mainbusinessoperationsbyregion | ||||||
| Byregion | Operatingincome | Operatingcost | Grossprofitrate(%) | Increase/Decreaseofoperatingincomeoverthepreviousyear(%) | Increase/Decreaseofoperatingcostoverthepreviousyear(%) | Increase/Decreaseofgrossprofitrateoverthepreviousyear(%) |
| Domestic | 18,797,274,855.33 | 15,307,933,145.45 | 18.56 | 45.10 | 49.72 | Decreaseby2.51% |
| Overseas | 6,214,541,351.08 | 4,845,477,891.44 | 22.03 | 7.65 | 9.68 | Decreaseby1.44% |
| Conditionofmainbusinessoperationsbysellingpattern | ||||||
| Sellingpattern | Operatingincome | Operatingcost | Grossprofitrate(%) | Increase/Decreaseofoperatingincomeoverthepreviousyear(%) | Increase/Decreaseofoperatingcostoverthepreviousyear(%) | Increase/Decreaseofgrossprofitrateoverthepreviousyear(%) |
| Directselling | 25,011,816,206.41 | 20,153,411,036.89 | 19.42 | 33.55 | 37.64 | Decreaseby2.40% |
(2).Analysisofproductionoutputandquantitysold
√Applicable□Non-applicable
| Mainproduct | Unit | Productionoutput | Quantitysold | Quantityofinventories | Increase/Decreaseofproductionoutputoverthepreviousyear(%) | Increase/Decreaseofquantitysoldoverthepreviousyear(%) | Increase/Decreaseofinventoriesoverthepreviousyear(%) |
| Vibration | In | 952.30 | 932.71 | 233.96 | 2.66 | 1.75 | 9.14 |
| controlparts | 10,000sets | ||||||
| Trimmingsystem | In10,000sets | 959.52 | 952.95 | 18.55 | 22.14 | 21.14 | 54.86 |
| ChassisSystem | In10,000sets | 743.71 | 729.13 | 60.13 | 31.44 | 30.41 | 32.01 |
| Mechatronicsystem | In10,000sets | 49.40 | 48.02 | 7.80 | -26.01 | -26.10 | 21.48 |
| Thermalmanagementsystem | In10,000sets | 90.81 | 88.42 | 7.82 | 42.56 | 42.82 | 44.01 |
| Electricdrivesystem | In10,000sets | 0.02 | 0.02 | 0.00 | NA | NA | NA |
Note:Duringthereportingperiod,theproductstructureoftheautomotiveelectronicssegmentchangedsignificantly.Unlikepreviousyearswhenelectronicvacuumpumpswerethecoreproducts,theproductmatrixhasbeenupgradedatthisstagetobedominatedbyhighvalue-addedproductssuchasairsuspension,poweradjustablesteeringcolumns,intelligentdoorcontrolsystemsandrotaryscreencontrollers.Thenumberofproductshasbeenreduced,andtheoveralltotalvalueofproductshasincreasedsignificantly,withasubstantialincreaseintheaverageunitprice.
(3)Performanceconditionofmajorpurchaseandsalescontracts
□Applicable√Non-applicable
(4).Costanalysis
Unit：Yuan
| Summarybyindustry | |||||||
| Byindustry | Costbreakdown | Amountinthecurrentperiod | Asapercentageoftotalcostinthecurrentperiod(%) | Amountinpreviousyear | Asapercentageoftotalcostinpreviousyear | Changeintheamountinthecurrentperiodasapercentageofpreviousperiod(%) | Remark |
| Automobileparts | Directcostofmaterial | 15,975,047,011.03 | 79.27 | 11,337,952,508.94 | 77.57 | 40.90 | |
| Automobileparts | Directcostoflaborservice | 1,225,578,994.11 | 6.08 | 932,656,152.87 | 6.38 | 31.41 | |
| Automobileparts | Manufacturingexpenses | 2,952,785,031.75 | 14.65 | 2,345,509,604.09 | 16.05 | 25.89 | |
| Summarybyproduct | |||||||
| Byproduct | Constructionofcost | Amountinthecurrentperiod | Asapercenta | Amountinpreviousyear | Asapercenta | Changeinthe | Remark |
| geoftotalcostinthecurrentperiod(%) | geoftotalcostinpreviousyear | amountinthecurrentperiodasapercentageofpreviousperiod(%) | ||||
| Vibrationcontrolparts | Directcostofmaterial | 2,608,999,802.46 | 12.95 | 2,401,209,569.29 | 16.43 | 8.65 |
| Vibrationcontrolparts | Directcostoflaborservice | 259,218,875.14 | 1.29 | 275,227,808.84 | 1.88 | -5.82 |
| Vibrationcontrolparts | Manufacturingexpenses | 605,303,657.22 | 3.00 | 579,784,837.74 | 3.97 | 4.40 |
| Trimmingsystem | Directcostofmaterial | 5,531,576,323.20 | 27.45 | 4,099,137,227.19 | 28.05 | 34.94 |
| Trimmingsystem | Directcostoflaborservice | 360,113,293.19 | 1.79 | 284,105,131.10 | 1.94 | 26.75 |
| Trimmingsystem | Manufacturingexpenses | 1,013,714,703.53 | 5.02 | 879,694,369.59 | 6.02 | 15.23 |
| ChassisSystem | Directcostofmaterial | 5,049,571,196.95 | 25.05 | 3,618,234,791.20 | 24.75 | 39.56 |
| ChassisSystem | Directcostoflaborservice | 438,843,500.71 | 2.18 | 329,987,910.74 | 2.26 | 32.99 |
| ChassisSystem | Manufacturingexpenses | 1,039,279,841.86 | 5.15 | 752,216,973.78 | 5.14 | 38.16 |
| Mechatronicsystem | Directcostofmaterial | 1,294,458,863.69 | 6.42 | 122,595,279.76 | 0.84 | 955.88 |
| Mechatronicsystem | Directcostoflaborservice | 90,095,210.56 | 0.45 | 10,277,989.42 | 0.07 | 776.58 |
| Mechatronicsystem | Manufacturingexpenses | 82,086,747.40 | 0.41 | 8,239,703.58 | 0.06 | 896.23 |
| Thermalmanagementsystem | DirectcostofmaterialDirectcostofmaterial | 1,486,415,404.41 | 7.38 | 1,096,570,837.90 | 7.50 | 35.55 |
| Thermalmanagementsystem | Directcostoflaborservice | 76,171,568.15 | 0.38 | 32,966,773.25 | 0.23 | 131.06 |
| Thermalmanagementsystem | Manufacturingexpenses | 210,969,567.98 | 1.04 | 125,521,376.08 | 0.86 | 68.07 |
| Electricdrivesystem | Directcostofmaterial | 4,025,420.32 | 0.02 | 204,803.60 | - | 1,865.50 |
| Electricdrivesystem | Directcostoflaborservice | 1,136,546.36 | 0.01 | 90,539.52 | - | 1,155.30 |
| Electricdrivesystem | Manufacturingexpenses | 1,430,513.76 | 0.01 | 52,343.32 | - | 2,632.94 |
(5).Changesinthescopeofconsolidationduetochangesintheequityofmajorsubsidiariesduringthereportingperiod
□Applicable√Non-applicable
(6).Significantchangesoradjustmentstobusinessoperations,productsorservicesduringthereportingperiod
□Applicable√Non-applicable
(7).MaincustomersandmainsuppliersA.Conditionofmaincustomers
□Applicable√Non-applicableThesalesamountfromthetopfivecustomersisRMB17,845.3207million,in67.09%oftheannualsalesamount;inwhich,thesalesamountfromtherelatedpartiesofthetopfivecustomersis0,in0%oftheannualsalesamount.Duringthereportingperiod,thesalestoasinglecustomeraccountsfor50%oftotalsalesamount,therearecircumstancesinwhichtheCompanysolicitsnewcustomersorheavilyreliesonafewcustomersoutoftheTop5customers.
□Applicable√Non-applicableB.Conditionofmainsuppliers
□Applicable√Non-applicableThepurchaseamountfromthetopfivesuppliersisRMB3,645.8539million,in22.60%oftheannualpurchaseamount;inwhich,thepurchaseamountfromtherelatedpartiesofthetopfivesuppliersis0,in0%oftheannualpurchaseamount.Duringthereportingperiod,thepurchasefromasinglesupplieraccountsfor50%oftotalpurchaseamount,therearearecircumstancesinwhichtheCompanysolicitsnewsuppliersorheavilyreliesonafewsuppliesoutoftheTop5suppliers.
□Applicable√Non-applicable
3.Expenses
□Applicable√Non-applicable
Unit:Yuan
| Subject | 2024 | 2023 | ChangeasPercentage(%) | ReasonforChange |
| Costofsales | 274,039,830.25 | 232,582,825.17 | 17.82 | Attributedtoanincreaseinsalesservicefeesandbusinessentertainmentexpensesinthecurrentperiod |
| Overheadexpenses | 620,867,938.38 | 543,720,741.04 | 14.19 | Attributedtoanincreaseofthenumberofmanagementstaff,salarypaidtothem,anddepreciationandamortizationinthecurrentperiod |
| Financialexpenses | 165,684,128.98 | 85,748,537.01 | 93.22 | Attributedtoadecreaseinexchangegainsinthecurrentperiod |
| R&Dcost | 1,224,242,543.46 | 986,403,005.39 | 24.11 | AttributedtothefurtherextentofR&DinnovationandtheincreaseinR&Dcostinthecurrentperiod |
4.R&Dinvestment
(1).ParticularsofR&Dinvestment
√Applicable□Non-applicable
Unit：Yuan
| ExpendableR&Dinvestmentinthecurrentperiod | 1,224,242,543.46 |
| CapitalizedR&Dinvestmentinthecurrentperiod | 0.00 |
| TotalR&Dinvestment | 1,224,242,543.46 |
| TotalR&Dinvestmentasapercentageofoperatingincome(%) | 4.60 |
| NumberofR&DmembersintheCompany | 0.00 |
(2)ListofR&Dspecialists
√Applicable□Non-applicable
| NumberofR&Dspecialists | 4,159 |
| R&Dspecialistsasapercentageoftotalstaffmembers(%) | 18.32 |
| EducationallevelofR&Dspecialists | |
| Kindofeducationallevel | Numberofspecialistsbyacademicdegrees |
| Holdersofdoctoraldegree | 7 |
| Holdersofmasterdegree | 187 |
| Holdersofbachelordegree | 1,923 |
| Holdersofcollegedegree | 2,042 |
| Holdersofhighschooldegreeorbelow | |
| AgegroupofR&Dspecialists | |
| Kindofagegroup | Numberofspecialistsbyagegroup |
| Below30(excluding30) | 1,493 |
| 30-40(including30,excluding40) | 1,748 |
| 40-50(including40,excluding50) | 838 |
| 50-60(including50,excluding60) | 80 |
| 60andabove | |
(3).Particulars
□Applicable√Non-applicable
(4)ReasonsformajorchangesinthestructureofR&DspecialistsandtheimpactonthefuturedevelopmentoftheCompany
□Applicable√Non-applicable
5.Cashflow
□Applicable√Non-applicable
| Subject | 2024 | 2023 | Changeaspercentage(%) | Reasonforchange |
| Netcashflowfromoperatingactivities | 3,236,068,686.84 | 3,365,629,276.74 | -3.85 | Mainlyattributabletotheincreaseinbankacceptancesreceivedduringtheperiod |
| Netcashflowfrominvestingactivities | -3,727,762,109.68 | -3,410,258,600.39 | NA | Mainlyasaresultoftheincreaseinthepurchaseofstructureddepositsduringtheperiod |
| Netcashflowfromfinancingactivities | 2,187,197,505.72 | -71,428,358.13 | NA | Mainlyasaresultoftheissuanceofnewsharesduringtheperiod |
(2)Explanationofmajorchangesinprofitscausedbyoperationsotherthanmainoperations
□Applicable√Non-applicable
(3)Analysisofassetsandliabilities
√Applicable□Non-applicable
1.Assetsandliabilities
Unit：Yuan
| Item | Amountattheendofthecurrentperiod | Amountattheendofthecurrentperiodasapercentageoftotalassets(%) | Amountattheendofpreviousperiod | （%）Amountattheendofpreviousperiodasapercentageoftotalassets | （%）Changeintheamountattheendofthecurrentperiodasapercentageoftheamountattheendofpreviousperiod(%) | Remark |
| Cashandcashequivalents | 3,987,765,850.28 | 10.62 | 2,855,366,991.27 | 9.28 | 39.66 | Mainlyattributedtothereceiptofproceedsfromtheprivateofferingduringtheperiod |
| Tradingfinancialassets | 1,050,000,000.00 | 2.80 | 300,872,066.52 | 0.98 | 248.99 | Mainlyattributedtotheincreaseintheamountoffinancialproductspurchasedduringtheperiod. |
| Notesreceivable | 24,667,150.00 | 0.07 | 554,030,607.88 | 1.80 | -95.55 | Mainlyattributedtothereclassificationofthepurposeofholdingnotesreceivableto“receivablesfinancing”duringtheperiod. |
| Receivablesfinancing | 2,659,789,309.01 | 7.08 | 1,039,933,314.87 | 3.38 | 155.77 | Mainlyattributedtothereclassificationofthepurposeofholdingnotesreceivabletothisaccount. |
| Prepayments | 167,363,593.66 | 0.45 | 116,414,223.74 | 0.38 | 43.77 | Mainlyattributedtotheincreaseofprepaymentformaterialsduringtheperiod. |
| Long-termequityinvestments | 96,732,684.19 | 0.26 | 139,641,447.46 | 0.45 | -30.73 | Mainlyattributedtothedecreaseinlong-termequityinvestmentsaccountedforundertheequitymethodasaresultofthechangefrom |
| theacquisitionofjointventurestowholly-ownedsubsidiariesduringtheperiod. | ||||||
| Right-of-useAssets | 534,259,860.28 | 1.42 | 340,623,222.02 | 1.11 | 56.85 | Mainlyattributedtotheincreaseintherecognitionofright-of-useassetsinaccordancewiththe“NewLeasingStandards”duringtheperiod. |
| Non-currentliabilitiesduewithinoneyear | 2,004,964,391.44 | 5.34 | 1,290,220,025.19 | 4.19 | 55.40 | Mainlyattributedtoreclassificationoflong-termloansduewithinoneyeartothisaccount. |
| Long-termborrowings | 1,448,871,389.82 | 3.86 | 2,506,123,957.26 | 8.14 | -42.19 | Mainlyattributedtothedecreaseinlong-termloansduringtheperiod |
| Leaseliabilities | 486,054,607.63 | 1.29 | 298,078,535.61 | 0.97 | 63.06 | Mainlyattributedtotheincreaseinleaseliabilitiesrecognizedinaccordancewiththe“NewLeasingStandards”duringtheperiod. |
2024
2.OverseasassetsApplicable□Non-applicable
(1)ScaleofassetsIncluding:overseasassetsRMB3,068,333,151.39(Unit:YuanCurrency:RMB),in8.17%oftotalassets.
(2)ExplanationforthereasonwhyoverseasassetsaccountforahigherpercentageApplicable□Non-applicable
3.MajorassetrestrictionsasoftheendofthereportingperiodApplicable□Non-applicable
Unit：Yuan
| Item | Bookbalanceattheendoftheperiod | Bookvalueattheendoftheperiod | Reasonforrestricteduse |
| MonetaryFunds | 45,499,260.99 | 45,499,260.99 | Securitydeposit |
| Notesreceivable | 18,160,355.02 | 17,252,337.27 | Pledge |
| Receivablefinancing | 1,315,399,958.40 | 1,315,399,958.40 | Pledge |
| Fixedassets | 913,115,117.42 | 586,524,641.09 | Mortgage |
| IntangibleAssets | 202,898,354.01 | 157,092,497.82 | Mortgage |
| Investmentrealestate | 24,529,646.86 | 7,829,710.33 | Mortgage |
| Total | 2,519,602,692.70 | 2,129,598,405.90 |
4.OtherNotes
□Applicable√Non-applicable
(4)Analysisofindustryoperationalinformation
□Applicable√Non-applicable
2024
AnalysisofOperationalInformationinAutomobileManufacturingIndustry
1.Productioncapacity
□Applicable√Non-applicable
2.Productionoutputandquantitysoldofvehicles
□Applicable√Non-applicable
3.Productionoutputandquantitysoldofautomobileparts
□Applicable√Non-applicable
4.NEVs
□Applicable√Non-applicable
5.Automobilefinancing
□Applicable√Non-applicable
6.OtherNotes
□Applicable√Non-applicable
(5)InvestmentconditionOverallanalysisofexternalequityinvestments
□Applicable√Non-applicable
1.Significantequityinvestment
□Applicable√Non-applicable
2.Significantnon-equityinvestment
□Applicable√Non-applicableⅰ.ConditionofpurchasedlandOn28February2023,Xi’anTuopuAutomobilePartsCo.,Ltd.,awholly-ownedsubsidiary,wonthebidfortherighttouseaparcelofstate-ownedconstructionlandinXi’anforaconsiderationofRMB33.87million,theareaofthisparcelisabout120mu.ⅱ.Updatesofinvestments
| NO. | DateofSigning | Referencenumberofannouncement | Titleofannouncement | Maincontent | Updateofevent |
| 1 | December2021 | 2021-086 | TuopuGroup’sAnnouncementontheInvestmentIntentAgreementSignedwithChongqing | TheCompanyandthePeople'sGovernmentofShapingbaDistrict,Chongqingsignedthe“ProjectCooperationAgreementforTuopuNEVChassislightweightSystem-InteriorTrimSoundInsulationSystemProductionBase”,withanintentofinvestingRMB1.5billioninShapingbaDistricttoconstructtheproductionbaseforNEVproductlinesbyphase. | Putintooperation. |
| 2 | August2022 | 2022-072 | TuopuGroup’sAnnouncementontheInvestmentIntentAgreementSignedwithShouxianCounty,Anhui | TheCompanyandtheAdministrationCommitteeofXinqiaoInternationalIndustrialPark,ShouxianCounty,Anhuisignedthe"ProjectAgreement"withtheintentofinvestingRMB2.5billiontobuildaNEVcriticalpartsproductionbaseinphasesinXinqiaoInternationalIndustrialPark,ShouxianCounty. | Putintooperation. |
| 3 | September2022 | 2022-079 | TuopuGroup’sAnnouncementontheInvestmentIntentAgreementSignedwithXi’an | TheCompanyandtheAdministrationCommitteeofXi’anEconomicandTechnologicalDevelopmentZonesignedthe“AutoPartsProductionProjectLandingAgreement”withtheintentofinvestingaboutRMB3billiontobuildaNEVcriticalpartsproductionbaseinXi’anEconomicandTechnologicalDevelopmentZone. | Latephaseofequipmenttestrunandpreparedforcommissioning. |
| 4 | September2022 | 2022-081 | TuopuGroup’sAnnouncementonNewEstablishmentofaWholly-ownedSubsidiaryinMexico | TheCompanyestablishesanewwholly-ownedsubsidiaryTUOPUGROUPMEXICO,S.deR.L.deC.VinMexico,andplanstopurchaseindustriallandinMexicotobuildaproductionbaseforNEVautoparts. | Projectcontinuestoprogress. |
| 5 | September2022 | 2022-082 | TuopuGroup’sAnnouncementontheInvestmentIntentAgreementSignedwithChangxing,Huzhou | TheCompanyandtheAdministrationCommitteeofChangxingEconomicandTechnologicalDevelopmentZone,Huzhousignedthe“InvestmentAgreement”withtheintentofinvestingaboutRMB2billiontobuildaNEVcriticalpartsproductionbaseinChangxingEconomicandTechnologicalDevelopmentZone. | Putintooperation. |
| 6 | January2024 | 2024-004 | AnnouncementofTuopuGroupontheSigningofInvestmentAgreementontheProjectofR&DandProductionBaseforRobotElectricDriveSystem | TheCompanyhassignedtheInvestmentAgreementontheProjectofR&DandProductionBaseforRobotElectricDriveSystemwiththeManagementCommitteeofNingboEconomicandTechnologicalDevelopmentZone..ThecompanyintendstoinvestRMB5billion,planninglandof300mu,inNingboEconomicandTechnologicalDevelopmentZonetobuildarobotcorecomponentsproductionbase. | Inprogress. |
3.Financialassetsmeasuredatfairvalue
□Applicable√Non-applicable
Unit:yuanCurrency:RMB
| Assetcategory | Amountatbeginningofperiod | Gain/lossonfairvaluechangesduringtheperiod | Cumulativefairvaluechangesincludedinequity | Impairmentprovidedduringtheperiod | Amountspurchasedduringtheperiod | mountssold/redeemedduringtheperiod | AOtherchanges | Amountatendofperiod |
| Equityinstruments | 872,066.52 | 1,018,222.92 | 1,956,378.42 | 66,088.98 | - | |||
| Short-termfinancialproducts | 300,000,000.00 | 4,495,000,000.00 | 3,745,000,000.00 | 1,050,000,000.00 | ||||
| Receivables | 1,039,933,314.87 | 9,368,403,349.90 | 7,748,756,134.59 | 208,778.83 | 2,659,789,309.01 |
| financing | ||||||||
| Total | 1,340,805,381.39 | 1,018,222.92 | - | - | 13,863,403,349.90 | 11,495,712,513.01 | 274,867.81 | 3,709,789,309.01 |
SecuritiesInvestment
□Applicable√Non-applicableSecuritiesinvestment
□Applicable√Non-applicablePEfundinvestment
□Applicable√Non-applicableDerivativesinvestment
□Applicable√Non-applicable
4.Updatesonmajorassetreorganizationandconsolidationduringthereportingperiod
□Applicable√Non-applicable
(6)Disposalofmajorassetsandequity
□Applicable√Non-applicable
(7)Analysisofmajorcontrollingandparticipatingcompanies
√Applicable□Non-applicable
Unit：in10,000Yuan
| Companyname | Registeredcapital | Totalassetsinthereportingperiod | Totalliabilitiesinthereportingperiod | Totalnetassetsinthereportingperiod | Operatingincomeinthereportingperiod | Netprofitinthecurrentperiod |
| NINGBOTUOPUAUTOMOBILEELECTRONICSCO.,LTD. | 250,000.00 | 710,559.99 | 207,840.91 | 502,719.07 | 515,474.27 | 65,867.01 |
| TUOPUELECTRICVEHICLETHERMALMANAGEMENTSYSTEM(NINGBO)CO.,LTD. | 401,380.00 | 526,354.07 | 99,907.40 | 426,446.67 | 400,525.65 | 22,158.85 |
| NINGBOTUOPUIMP.&EXP.CORP. | 20,000.00 | 106,454.81 | 36,478.79 | 69,976.02 | 404,088.62 | 19,367.48 |
| NINGBOTUOPUAUTOMOBILEPARTSCO.,LTD. | 20,000.00 | 141,457.46 | 115,649.00 | 25,808.46 | 1,200,761.33 | 6,467.79 |
| NINGBOTUOPUVIBRO-ACOUSTICSTECHNOLOGYCO.,LTD. | 20,000.00 | 106,304.81 | 79,097.76 | 27,207.05 | 864,278.18 | 1,835.13 |
| ZHEJIANGTOWINAUTOMOBILEPARTSCO.,LTD. | 18,000.00 | 59,002.16 | 8,785.34 | 50,216.83 | 30,623.51 | 1,446.26 |
| SUININGTUOPUAUTOMOBILECHASSISSYSTEMCO.,LTD. | 15,000.00 | 48,607.50 | 11,462.07 | 37,145.43 | 61,950.25 | 7,738.29 |
| TUOPUPOLANDCO.,LTD. | 1,800.00 | 17,183.24 | 6,216.80 | 10,966.45 | 100,792.74 | 6,072.16 |
| NINGBOTUOPU | 51,490.00 | 115,920.15 | 40,112.66 | 75,807.49 | 181,113.86 | 14,309.32 |
| CHASSISSYSTEMCO.,LTD. | ||||||
| HUNANTUOPU | 72,259.00 | 124,725.17 | 32,965.69 | 91,759.47 | 145,895.58 | 16,366.88 |
| TUOPUSKATEBOARDCHASSIS（NINGBO)CO.,LTD. | 239,201.00 | 287,671.62 | 59,939.77 | 227,731.85 | 148,534.82 | -2,469.09 |
| TUOPUNORTHAMERICALIMITED | 5.00 | 5,885.38 | 6,275.35 | -389.97 | 122,327.41 | 23.27 |
| TUOPUELECTRICALAPPLIANCES | 5,000.00 | 33,656.32 | 14,282.13 | 19,374.19 | 44,109.79 | 9,539.44 |
| NINGBOBORGERS | 250,000.00 | 710,559.99 | 207,840.91 | 502,719.07 | 515,474.27 | 65,867.01 |
(8)StructuredentitiescontrolledbytheCompany
□Applicable√Non-applicableⅥ.DiscussionandAnalysisontheFutureDevelopmentoftheCompany
(1)Industrystructureandtrend
□Applicable√Non-applicableTheautomobileindustryisplacedinthesituationofdrasticchangeandfar-reachingchangesaretakingplaceinrespectofindustry,technology,businessmodel,marketingmodel,profitmodelandsupplychainmodel.
1.Ageneralconsensusastotherevolutionarytrendof"electrifying,intelligence,andnetworking"intheautomotiveindustryhasbeenreachedacrosstheglobe.Andglobalcarmakersareworkingtowardsthistrend.
2.Technology-intensivecompaniesmakecarswithinnovativecompaniesacrossborders,stirringupanewtrendintheautomotiveindustry.GreatinnovatorslikeTesla,whoaremakingcarsfromthepointofconsumers,asiftheywereusers,havemadegreatsuccess.ThepastindustrialOEMpatternhasbeenbrokendown,itistimeforcarmakerstopinpointanewidentityandrebuildcorecompetitiveness.
3.Chinaisexpectedtogetanupperhandintheelectrificationtide.Thestrategyofswappingmarketsharefortechnologyleadstosuccessinhigh-speedrailandelectricalappliance,butnotintraditionalvehicles.NowtherearesomeopportunitiesforNEVsduetothefollowingreasons:
First,theChinesegovernmenthasbeenconsistentlypromotingelectrification;second,theentrepreneurshipanddividendofengineersarenowprevailinginChina;third,Chinahastechnologicalaccumulationandprogressinrespectof5G,bigdata,artificialintelligence,andautopiloting.Ifanewroundofcutting-edgetechnologiescanbeappliedtotheautomotiveindustry,thetechnologicalmonopolyofEU,USandJapaneseold-brandcarmakerswillbebrokendown,Chinesecarmakerswillstandonthesamestartinglinewithgloballeadersandareexpectedtogetanupperhandinthenewroundofcompetition.Theyearof2025marksthebeginningofaneweraforChina'sdomesticautomobilemanufacturerstoexpandtheirreachglobally.
4.ArevolutionisprojectedforChina'sautopartsindustry,whichwillturnthepastscenariooftechnologyhollowing,smallscale,andlackofR&Dandinnovation.SomeautopartsgiantswithglobalcompetitivenessareexpectedtostandoutofChina’sautopartsindustry.
(2)Developmentstrategy
√Applicable□Non-applicable
Amidthegreatrevolutionoftheautomotiveindustry,theCompanyisdeterminedtobeatechnology-intensivelargeplatformsupplierwithextensiveindustriallandscape,intensiveproducttechnology,impressiveR&Dcapabilities,andabroadrangeofcustomergroups,establishTier0.5cooperationwithcustomers,leadtherevolutionoftherelationsbetweencarmakersandautopartssuppliers,achievetechnologicalexcellenceatTuopu,strivetobeaone-hundred-billion-levelgiantinChina’sautopartsindustryandaworld-classautopartssupplier,empowerthedevelopmentofNEVindustry,andcontributetoattainingthegoalof“CarbonPeakingandCarbonNeutrality”.Theswiftadvancementofstate-of-the-arttechnologygloballyhasacceleratedthegrowthofAI,withintelligentelectricvehiclesandroboticsemergingassignificantsectorspoisedtotransformhumanexistence,offeringextensivemarketpotential.Thecompanyoperateswithintheintelligentelectricvehicleandroboticssector,whichboastsamarketcapacityinthetrillionsofdollars,indicatingsubstantialopportunitiesformarketexpansion.Thisindustryischaracterizedbyalengthybusinesslifecycle,hightechnologicaldemands,andsignificantcapitalinvestment,necessitatingareconfigurationoftheexistingcompetitivelandscape,therebypresentingthecompanywithauniquehistoricalopportunityfortransformativegrowth.
1.Platformstrategy.NowtheCompanyowns8productlines:AutomobileVibrationControlSystem,Interior&ExteriorSystem,ChasissLightweightSystem,CabinComfortSystem,ThermalManagementSystem,ChassisSystem,AirSuspensionSystem,IntelligentBrakingSystem.TheunitpriceofcomponentspervehicleisaboutRMB30,000andtheseproductlinesareaccessibletoenormouspotentialsofexpansion.TheCompanyisalsodevelopingrobotmotionactuators,asitidentifiesanenormousmarketpotential.
2.Technologystrategy.TheCompanyadherestoR&Dandinnovation,enhancesitsR&Dcapabilitiesofmechanics,electroniccontrol,softwareandchassistuning,increasesthetechnology-intensivelevelofproducts,addressestheindustry-wide“bottlenecking”technicalissue,andmakeowncontributiontotheindustrialdevelopment.
3.Intelligentmanufacturingstrategy.TheCompanyisintensifyingtheeffortstoimplementthedigitalfactorystrategy,improvingthequalitycontrollevel,processcapability,automationandvaluestreamanalysiscapabilitythroughvirtualsimulation,andendeavoringtochangetheinternationalimpressionon“MadeinChina”.
ItsgeographicallocationinQianwanNewAreaIndustrialParkwitnessestheriseof“WisdominChina”.First,manyproducttypesessentiallycoveringallproductlines;second,awiderangeofprocessesincludingstamping,forging,HPdiecasting,LPcasting,differentialpressurecasting,extrusioncasting,injectionmolding,diepressing,precisionmachining,welding,painting,assembling;third,withstate-of-the-artequipment,manysortsofdomesticadvancedequipmentandautomatedproductionlinesaredenselydistributed;fourth,accesstoleadingmanufacturingmanagementpractice,awidearrayofadvancedmanufacturingandmanagementtoolssuchasAGVsanddigitalKanbanareputintoefficientuse;fifth,withproductstailoredforinternationalanddomesticmarkets.Despitewiththesharpriseoftariffsandinternationalfreightrates,theinternationalcompetitivenessof“MadeinChina”arehighlighted.Withsufficientorders,busyproductionactivitiesandtruckscominginandouttakeonathrivingimage,leavinganimpressionoftheriseofChinaasagreatpowerandthenationalindustryupgrade.
4.T0.5grademarketstrategy.Capitalizingonthecompositestrengthsofplatform-basedenterpriseproductline,R&DandQSTP(quality,service,technology,cost),theCompanystrivestobuildanewTier0.5businesspatternandincreasetheamountofcomponentspervehicle.
5.GlobalizationStrategy:Inresponsetoevolvingmarketconditions,wewillpersistinadvancingourglobalizationstrategy,withplanstoestablishacomprehensiveproductandfactorylayoutacrossallmajoreconomicregionsworldwide.
6.AcquisitionandMergerStrategy:Thecompanypursuesagrowthstrategythatcombinesinternaldevelopmentwithmergersandacquisitions,remainingopentoanyvalue-enhancingopportunitiesinthisareawhilefosteringinternalentrepreneurship.Particularlypost-2025,assomecompaniesmayfaceoperationalchallengesduetosluggishtransformations,weanticipatepotentialmergerandacquisitionopportunitiesthatwillenableustosustainrapidexpansion.
(3)Businessplan
√Applicable□Non-applicable
In2025,theCompanyisanticipatedtoexploitthemarket,speedupthemassproductionproject,improvethemanagementlevel,controlcost,drivetherapiddevelopment,andprepareforattainingthemedium-termstrategicgoalinalignmentwiththepredefinedstrategy.
1.Salesandmarket.
Relyingonthecompositeadvantagesoftheplatform-basedenterpriseandadheringtoTier0.5cooperation,theCompanybroadensthesphereofstrategiccooperationanddrivesonthesynchronizeddevelopmentlaneinrelianceofcoordinatedproductlines.
Currently,theglobalautomotiveindustryisundergoingatransformation,presentingnewopportunities.Thecompanywillpersistinitseffortstodeveloptheinternationalmarketthisyear.Inlightofthetrendofdomesticautomotivecompaniesexpandinginternationally,thecompanywillfurtherbroadenitsrelatedbusinessactivities.Withinthedomesticmarket,thecompanywillcontinuetoenhanceitsbusinessscopewithkeyclientsandstrivetoincreasethevolumeofindividualvehiclesales.
2.Newprojectdevelopment.
R&Deffortswillbeintensifiedtobringallproductlinesandprojectsintoreality.Inthisyear,automotiveelectronicproductsqualifiedforexperimentalverificationsandroadtests,anddrovetotheharvestingstageofvolumeproductionacrosstheboard,alongwiththeexpansionofourproductcategories.
3.Capacitylandscaping.
Thisyear,weaimtofinalizetheconstructionofthePhase9andPhase10factoriesinQianwanNewAreaandinitiatetheroboticsindustrialbaseproject,whichspansapproximately150mu
Atpresent,theadoptionrateofelectricvehiclesinNorthAmericaandEuroperemainslow.Foreignautomotivemanufacturersarehasteningtheirshifttowardsnewenergysolutions,whileinternationalpartsandcomponentssuppliersexhibitalimitedwillingnesstoinvestinthistransition.Consequently,thepaceofchangeissluggishandfailstomeetthepressingdemandsofautomotivecompaniesfornewenergytransformation.Thissituationhascreatedsignificantmarketopportunitiesinternationally,particularlyasthecompanyexperiencesanotableincreaseinneworders.Inlightoftheevolvinggloballandscape,thecompanyisproactivelystrategizingandoptimizingitsglobalindustrialfootprint.
TheinitialphaseoftheThailandfacilityspans185muandisanticipatedtocommenceproductioninearly2026.Additionally,planningforthesecondphaseoftheprojectinMexicoisunderway,andtheplantinPolandispreparingtoexpanditscapacitytofurtherenhanceproductioncapabilities.
Toattaintheprofitabilityofinternationalexpansion,theCompanyhasperformedthefollowinganalysesandpreparations:ontheonehand,theresourcesofNEVautopartsinthecurrentinternationalmarketarescarce,whichmeansreasonablepricescanbeguaranteed.Ontheotherhand,theCompanyhaspreparedwellfor:(1)makingthefacilitiesmoreautomated,increasingtheoutputpercapita,reducinglaborforcesandrelievingmanagmenetpressure;(2)forminganexpeditionteam,engaging
experiencedmanagement,processandsometechnicalspecialistsintheprojectimplementation,makingsurethattheprojectwillbeputintooperationonscheduleanddesignatedquality;(3)integratingtheindustrialchaintoaddresstheshortsupplyofproductionmaterialsintheinternationalmarket;(4)linkingandintegratingmanagementinformationsystemsforthesakeofcontrolledandcompliantactivities.
4.Costcontrol.Effortswillbemadetopromotethebudgetcontrolsystemandleanproductionsystemforcostcut-down.Specificmanagementwillbeavailablefornewfactoriestoputproductionintooperationandtransitfromlosstoprofitassoonaspracticable.
5.Intelligentmanufacturing.Effortswillbecontinuedtoboosttheconstructionofdigitalbenchmarkfactories.Andthefull-scalevolumeproductionofautomotiveelectronicswillberealized.
Inaddition,otherworksundertakenbytheCompany,includingqualitycontrol,leanproduction,systeminnovation,arepushedforward.
(4)Potentialrisks
√Applicable□Non-applicable
1.Exchangerate,tariffs,fluctuationsinmaterialprices,andpricereductionrequestedbycustomersmayexposebusinessoperationstorisk.TheCompanyintendstoresolvetheserisksbyenhancingoverallcompetitiveness.Inthecourseof40yearsafterfounding,Pullingthroughapluralityofrisksasmentionedabove,theCompanykeepsgoodbusinessperformanceanddevelopmentmomentum,andestablishesafullsetofriskcontrolsystemsbasedontheaccumulatedexperience.
2.Thecompany'snewenergyinitiativehasreceivedfullacknowledgmentandimplementationfrombothgovernmentalbodiesandindustries,indicatingasounddirectionwithsignificantfuturepotential;thus,thestrategicpathofthecompanyisdevoidofrisk.
3.Inlightoftherisksassociatedwithsignificanttariffchanges,thecompanyhasestablishedaglobalframeworktoeffectivelymanageandmitigatetheserisks.Thecapitalinvestmentrequiredforthisglobalizationprocessisacrucialassetfortheelectrificationtransitionofinternationalautomotivefirmsaswellasfordomesticautomotivecompaniesseekingtoexpandinternationally.Bybroadeningitsclientbasetoincludethesetwocategoriesofcustomers,thecompanyminimizestherisksassociatedwithinternationalinvestments.
(5)Others
□Applicable√Non-applicableVII.ExplanationonthecircumstancesandreasonswhytheCompanydidnotdiscloseunderthestandardsduetoinapplicabilityofthestandardsorspecialreasonssuchasstatesecretsandbusinesssecrets
□Applicable√Non-applicable
Section4CorporateGovernance
I.NotestoCorporateGovernance
□Applicable□Non-applicable
TheCompanyactedinstrictcompliancewiththe"CompanyLaw","SecuritiesLaw",relevantregulationsofCSRCandSSE,andtheprovisionsunderthe"ArticlesofAssociation",inordertoimprovethecorporategovernancestructure,improveinternalcontrolsystem,andoperatetheinternal
controlsystem.Generalmeeting,BoardofDirectors,BoardofSupervisors,independentdirectorsandthemanagementoperatedpreciselybyfollowingtheinternalcontrolprocedure,inordertosecurethelegitimaterightsandinterestsoftheCompanyanditsshareholders.
1.ShareholdersandGeneralMeetingTheshareholdersreviewstheeventstotheextentpermittedinthefunctionsandpowersofgeneralmeetingundertherelevantprovisions,the“ArticlesofAssociation”andthe“RulesofProceedingsofGeneralMeeting”,andappointslawyerstowitnesstheproceduresofholdingandconveningthegeneralmeetingandtomaintainthelegitimaterightsandinterestsoftheshareholders,especiallytheminorityshareholders.TheCompanyholdsthegeneralmeetingintheformofinternetvotingandpollingandtheproceduresofconveningandholdingthegeneralmeetingandvotingatthegeneralmeetingarelegalandvalid.Duringthereportingperiod,significantmattersincludingamendmentstotheArticlesofAssociation,regularreports,profitdistribution,re-appointmentofauditor,relatedpartytransactions,utilizationofproceeds,by-electionofdirectors,changesandextensionsofPEinvestmentprojects,andtheinitiationofnon-publicofferingswereconsideredanddecidedatthegeneralmeeting.
2.ControllingShareholdersandListedCompaniesThecontrollingshareholder,actualcontrollerandtherelatedpartiesoftheCompanyexercisetheirpowersandassumeobligationsundertheapplicablelawsandregulations,andthereisnoactivitythatdirectlyorindirectlyinterfereswiththebusinessoperationsbeyondthegeneralmeeting.Duringthereportingperiod,theCompanydidnotprovideaguaranteeforthecontrollingshareholderanditsaffiliates,nordidthecontrollingshareholderoccupythefundsoftheCompany.
3.DirectorsandBoardofDirectorsTheBoardofDirectorsconsistsof9directorsincluding3independentdirectors.Fourspecialcommittees,StrategyandInvestmentCommittee,AuditingCommittee,NominationCommittee,andRemunerationandAssessmentCommittee,areaffiliatedundertheBoardofDirectors.TheBoardofDirectorsandspecialcommitteeshavelaiddowntherulesofproceedings.DirectorsareabletopresentatthemeetingofBoardofDirectors,performduediligence,earnestlymaintainthelegitimaterightsandinterestsoftheCompanyandallshareholdersontimeunderthe“ArticlesofAssociation”andotherapplicablelawsandregulations.
4.SupervisorsandBoardofSupervisorsTheBoardofSupervisorsconsistsof3supervisorsincluding1supervisorasstaffrepresentative,andhaslaiddownthe“RulesofProceedingsofBoardofSupervisors”.Thesupervisorsearnestlyperformedtheirduties,andtoholdaccountableforshareholders,theyoversawsignificantmattersincludingamendmenttotheArticlesofAssociation,placementofguaranteetosubsidiaries,regularreports,majorproductionandoperationdecisions,useofproceeds,theinitiationofnon-publicofferings,andrelatedpartytransactions,andfulfilledthesupervisoryroleoftheBoardofSupervisors.
5.OfficersDuringthereportingperiod,officershaveperformedduediligenceinaccordancewiththeArticlesofAssociation,totheextentauthorizedbythegeneralmeetingandBoardofDirectorsandpermittedbytherulesandregulationsoftheCompany.
6.InformationDisclosureandTransparencyTheCompanydisclosesrelevantinformationinatrue,accurate,complete,timelyandfairmannerexactlyunderthe"GuidelinesforGovernanceofListedCompanies","RulesGoverningtheListingofSharesinShanghaiStockExchange","ArticlesofAssociation"and"InformationDisclosureManagementSystem"andotherapplicableregulations.TheportalsitedesignatedbytheCompanyforitsinformationdisclosureistheSSEwebsiteandthenewspaperdesignatedforitsinformationdisclosureisSecuritiesTimes.
7.InsiderInformationControlWiththe“InsiderRegistrationManagementSystem”available,theCompanyintensifiestheinsiderinformationmanagementpracticeandspecifiestheregistrationandfilingprocessofinsiders,whichinturnpavesthewayforproperconfidentialityofinsiderinformation.Duringthereportingperiod,the
Companycontrolstherouteandscopeoftransmittinginsiderinformation,makesurethatinformationisdisclosedfairly,andmaintainthelegitimaterightsandinterestsofinvestorsexactlyinaccordancewiththe“InsiderRegistrationManagementSystem”.Whetherthereisamaterialdifferenceconcerningcorporategovernanceprovisionsbetweencorporategovernanceandlaws,administrativeregulations,andCSRCregulationsonlistedcompanygovernance;incaseofmaterialdifference,statethereason.
□Applicable√Non-applicableII.MeasurestakenbythecontrollingshareholderandactualcontrolleroftheCompanytomaintaintheindependenceofthecompany-specificassets,persons,finance,organizationandbusiness,aswellasthesolutions,updatesonworkandfollow-upplansthatareanticipatedtoinfluenceitsindependence
□Applicable√Non-applicableConductofthesameorsimilarbusinessastheCompanybythecontrollingshareholder,actualcontrollerandotherentitiesundertheirrespectivecontrol,influenceofpeer-to-peercompetitionorthedrasticchangesofpeer-to-peercompetitionontheCompany,countermeasurestaken,updatesonsolutionandfollow-upsolutionplan.
□Applicable√Non-applicableIII.BriefInformationaboutGeneralMeetings
| Session | Dateofconvention | Thesearchindexofthespecifiedwebsitetopublishresolutions | Dateofdisclosuretopublicationofresolutions | Resolution |
| Thefirstextraordinarygeneralmeeting2024 | February19,2024 | www.sse.com.cn | February20,2024 | Moredetailsareavailablein“BulletinonResolutionsoftheFirstExtraordinaryGeneralMeeting2024ofTuopuGroup(Bulletin#:2024-024) |
| Thesecondextraordinarygeneralmeeting2024 | February23,2024 | www.sse.com.cn | February24,2024 | Moredetailsareavailablein“BulletinonResolutionsoftheSecondExtraordinaryGeneralMeeting2024ofTuopuGroup(Bulletin#:2024-026) |
| Theannualgeneralmeeting2023 | June24,2024 | www.sse.com.cn | June25,2024 | Moredetailsareavailablein“BulletinonResolutionsoftheAnnualGeneralMeeting2023ofTuopuGroup(Bulletin#:2024-053) |
| Thethirdextraordinarygeneralmeeting2024 | September2,2024 | www.sse.com.cn | September3,2024 | Moredetailsareavailablein“BulletinonResolutionsoftheThirdExtraordinaryGeneralMeeting2024ofTuopuGroup(Bulletin#:2024-077) |
Preferredshareholderswhosevotingrightshavebeenrestoredrequesttoconveneanextraordinarygeneralmeeting
□Applicable√Non-applicable
NotetoGeneralMeeting
√Applicable□Non-applicable
Duringthereportingperiod,theCompanyheldfourgeneralmeetings.Thesemeetingsareconvenedandheldundertheapplicablelaws,regulationsandthese"ArticlesofAssociation";thepersonspresentatandconveningsuchmeetingsholdlegalandvalidqualifications;thevotingprocedureisconsistentwiththeapplicablerelevantlaws,regulations,normativedocumentsandthese"ArticlesofAssociation".Thevotingresultsarelegalandvalid.
2024
IV.InformationAboutDirectors,SupervisorsandOfficers
(1)Changesinsharesheldandremunerationofcurrentandresigneddirectors,supervisorsandofficersduringthereportingperiod
√Applicable□Non-applicable
Unit：Shares
| Name | Capacity(Note) | Gender | Age | Dateoftakingoffice | Dateofleaving | Numberofsharesheldatthebeginningoftheyear | Numberofsharesheldattheendoftheyear | Increase/Decreaseinsharesintheyear | Reasonforincrease/decrease | Totalpre-taxremunerationreceivedfromtheCompanyduringthereportingperiod(in10,000Yuan) | WhetherreceiveremunerationfromrelatedpartiesoftheCompany |
| WuJianshu | President,Director | Male | 61 | 2023-10-19 | 2026-10-18 | 7,210,308 | 11,996,731 | 4,786,423 | Additionalpurchaseofsharesinthesecondarymarket,BonusIssuefromProfitAllocation | 0 | No |
| WuHaonian | VicePresident,Director | Male | 25 | 2023-10-19 | 2026-10-18 | 1,367,300 | 1,982,585 | 615,285 | BonusIssuefrom | 46.37 | No |
2024
| ProfitAllocation | |||||||||||
| WangBin | Director,President | Male | 50 | 2023-10-19 | 2026-10-18 | 330 | No | ||||
| PanXiaoyong | Director,VicePresidentofBU | Male | 45 | 2023-10-19 | 2026-10-18 | 600 | No | ||||
| WuWeifeng | Director,VicePresidentofBU | Male | 48 | 2023-10-19 | 2026-10-18 | 500 | No | ||||
| WangWeiwei | Director | Male | 42 | 2023-10-19 | 2026-10-18 | 236 | No | ||||
| ZhaoXiangqiu | Independentdirector | Female | 55 | 2023-10-19 | 2026-10-18 | 6 | No | ||||
| WangYongbin | Independentdirector | Male | 68 | 2023-10-19 | 2026-10-18 | 6 | No | ||||
| XieHuajun | Independentdirector | Female | 48 | 2023-10-19 | 2026-10-18 | 6 | No | ||||
| YanQunli | ChairmanofBoardofSupervisors,Supervisor | Male | 53 | 2023-10-19 | 2026-10-18 | 83 | No | ||||
| DuanXiaocheng | Supervisor | Male | 43 | 2023-10-19 | 2026-10-18 | 136 | No | ||||
| LiWeiguo | Staffrepresentative,supervisor | Male | 53 | 2023-10-19 | 2026-10-18 | 30 | No | ||||
| JiangKaihong | VicePresident | Male | 54 | 2023-10-19 | 2026-10-18 | 200 | No | ||||
| HongTieyang | FinancialDirector | Male | 47 | 2023-10-19 | 2026-10-18 | 78 | No | ||||
| WangMingzhen | BoardSecretary | Male | 46 | 2023-10-19 | 2026-10-18 | 75 | No | ||||
| Total | / | / | / | / | / | 8,577,608 | 13,979,316 | 5,401,708 | / | 2,332.37 | / |
2024
| Name | WorkingExperience |
| WuJianshu | Male,bornin1964,aHongkongresident,ormerlyasPresidentofNingboTuopuVibrationControlSystemCo.,Ltd.,PresidentofNingboTuopuSoundproofSystemCo.,Ltd.,PresidentofNingboTuopuCouplingCo.,Ltd.,PresidentofNingboTuopuAutomobileSpecialRubberCo.,Ltd.,PresidentofNingboTuopuBrakeSystemCo.,Ltd.CurrentlyinthecapacityofPresidentofMECCAINTERNATIONALHOLDING(HK)LIMITED,PresidentandDirectoroftheCompany. |
| WuHaonian | Male,bornin2000,aHongKongresident,graduatedfromtheUniversityofToronto,CanadaonJuly2023andwaselectedasadirectorofthefifthsessionoftheBoardofDirectorsoftheCompanyonOctober2023bytheshareholders'meetingoftheCompany.CurrentlyinthecapacityoftheVicePresidentandDirectoroftheCompany. |
| WangBin | Male,bornin1975,aChinesenational,Bachelor'sdegreewithnopermanentresidencyoutsidethecountry.FormerlyasViceGeneralManagerofNingboEconomicandTechnologicalDevelopmentZoneTuopuIndustrialCo.,Ltd.,DirectorandGeneralmanagerofNingboTuopuVibrationControlSystemCo.,Ltd.,GeneralmanagerofNingboTuopuImportandExportCo.,Ltd.,VicegeneralmanagerandDirectorofNingboTuopuBrakeSystemCo.,Ltd.CurrentlyinthecapacityofDirectorandPresident(GeneralManager)oftheCompany. |
| PanXiaoyong | Male,bornin1980,aChinesenational,Doctor’sDegreeinEngineeringwithpermanentresidencyoutsidethecountry.FormerlyasVicePresidentofNingboTuopuAcousticsVibrationTechnologyCo.,Ltd.,ManagerofSystemDevelopmentDepartmentofNingboTuopuAcousticsVibrationTechnologyCo.,Ltd.,andDirectorofNingboTuopuBrakeSystemCo.,Ltd.CurrentlyinthecapacityofPresidentofNingboUshoneElectronicChassisCo.,Ltd.andDirectorandDeputyGM(VicePresident)oftheCompany. |
| WuWeifeng | Male,bornin1977,aChinesenational,Bachelor’sdegreewithnopermanentresidencyoutsidethecountry.FormerlyasDirectorofofNingboTuopuAcousticsVibrationTechnologyCo.,Ltd.,GeneralmanagerofNingboTuopuAutomobileSpecialRubberCo.,Ltd.,GeneralmanagerofNingboBaheMouldCo.,Ltd.,VicegeneralmanagerofNingboTuopuSoundproofSystemCo.,Ltd.,VicegeneralmanagerandDirectorofNingboTuopuBrakeSystemCo.,Ltd.CurrentlyinthecapacityofDirectorandVicegeneralmanageroftheCompany. |
| WangWeiwei | Male,bornin1983,aChinesenationalwithnopermanentforeignresidency,B.S.inAutomotiveEngineeringfromTsinghuaUniversity,Ph.D.inMechanicalEngineeringfromTsinghuaUniversity.FormerlyasGeneralmanagerofIntelligentbrakingsystemandStabilityControlSystemofNingboTuopuGroupCo.,Ltd.,currentlyinthecapacityofDirectoroftheCompany,GeneralManagerofBrakeSystemofNingboUshoneElectronicChassisCo.,Ltd. |
| ZhaoXiangqiu | Female,bornin1970,aChinesenationalwithnopermanentresidenceabroad,bachelor'sdegree.FormerlyasapracticinglawyerinZhejiangFanxinLawFirm,currentlyasalawyer,partnerandexecutivedirectorofZhejiangYahuiLawFirm.CurrentlyasalawyerandpartnerofZhejiangTai’anLawFirm.CurrentlyasanindependentdirectorofJifengCo.,Ltd.(603997.SH). |
| WangYongbin | Male,bornin1957,aChinesenationalwithnopermanentresidenceoutsideChina,holderofprofessor'stitle.FormerlytaughtstudentsinZhejiangAgriculturalUniversityatNingboaftergraduation,formerlyasaprofessorofmachineryatZhejiangWanliUniversity,thefirsttutorofmastercandidates,GeneralmanageroftheInstituteofMechatronicSystemTechnology,DirectorofMechatronicSystemTechnologyLaboratory,nowretired.CurrentlyasanindependentdirectoroftheCompany,concurrentlyholdtheofficeofindependentdirectorinNingboJifengAutoPartsCo.,Ltd.(603997.SH),NBTMNewMaterialsGroupCo.,Ltd.(600114.SH),ZhejiangLERANewEnergyPowerTechnologyCo.,Ltd.,andNingboDaZhiMachineTechnologyCo.,Ltd. |
| XieHuajun | Female,bornin1977,aChinesenationalwithnorightofabodeabroad,holderofbachelordegree.hedeputydepartmentmanagerofNingboDonghaiAccountingFirm.TheindependentdirectoroftheCompany,currentlyasanindependentdirectorofJifengCo.,Ltd.(603997.SH). |
2024
| YanQunli | Male,bornin1957,aChinesenationalwithnopermanentresidenceoutsideChina.FormerlyasDirectorofMoldCenter,ProjectManagerofEngineeringDepartmentandManagerofEngineeringDepartmentofNingboNingboEconomicandTechnologicalDevelopmentZoneTuopuIndustrialCo.,Ltd.,VicegeneralmanagerofMarketingofNingboTuopuAutomobilePartsCo.,Ltd.,GeneralmanagerofVibrationControlSystemNO.1DepartmentofNingboTuopuBrakeSystemCo.,Ltd.,andDirectorandVicegeneralmanagerofNingboTuopuBrakeSystemCo.,Ltd.CurrentasthechairmanofBoardofSupervisorsoftheCompany. |
| DuanXiaocheng | Male,bornin1982,aChinesenationalwithnopermanentresidenceabroad,DoctorofEngineering.FormerlyasSystemIntegrationSectionChiefofNingboTuopuAcousticsVibrationTechnologyCo.,Ltd.,ChiefEngineerofR&DCenterofNingboTuopuGroupCo.,Ltd.,andVicePresidentofR&DCenterofNingboTuopuGroupCo.,Ltd.CurrentlyinthecapacityofPresidentofPowertrainandChassisDivisionandSupervisoroftheCompany. |
| LiWeiguo | Male,bornin1972,aChinesenationalwithnopermanentresidenceabroad,universitydegree.FormerlyasPlanningDirectorandGroupManagementRepresentativeofNingboTuopuGroupCo.,Ltd.CurrentlyasManagingDirectorofManagementDepartmentandStaffRepresentativeSupervisoroftheCompany. |
| JiangKaihong | Male,bornin1971,aChinesenationalwithnopermanentresidenceabroad,universitydegree.FormerlyasViceGeneralManagerofNingboEconomicandTechnologicalDevelopmentZoneTuopuIndustrialCo.,Ltd.,DirectoroftheR&DCenterofNingboTuopuVibrationControlSystemCo.,Ltd.,GeneralManagerofNingboTuopuAutomobilePartsCo.,Ltd.,andGeneralManageroftheElectronicSystemDivisionofNingboTuopuBrakeSystemCo.,Ltd.Currentlyinthecapacityofthevicepresident(deputygeneralmanager)oftheCompanyandtheseniorgeneralmanagerofNingboUshoneElectronicChassisCo.,Ltd. |
| HongTieyang | Male,bornin1978,aChinesenationalwithnopermanentresidenceabroad,universitydegree.FormerlyasFinancialOfficerofNingboHuazhongPlasticProductsCo.,Ltd.,ProjectManagerofNingboZhongchengTaxAccountantFirm,andFinancialManagerofNingboTuopuGroupCo.,Ltd.CurrentlyasFinancialDirectoroftheCompany. |
| WangMinfeng | Male,bornin1979,aChinesenational,nopermanentoverseasresidence,bachelordegree.HehasbeenthegeneralmanagerofNingboTuopuImp&ExpCo.,Ltd.andsupervisorofNingboTuopuGroupCo.HeisnowthesecretaryoftheBoardofDirectorsoftheCompany. |
OtherNotes
□Applicable√Non-applicable
2024
（2）Officeheldbycurrentandresigneddirectors,supervisorsandofficersduringthereportingperiod
1.Officeheldincorporateshareholder
√Applicable□Non-applicable
| Nameofpersonsinoffice | Nameofcorporateshareholder | Officeheldincorporateshareholder | Dateofofficeheld | Dateofendofoffice |
| WuJianshu | MECCAINTERNATIONALHOLDING（HK）LIMITED | Shareholder | 2008-07-21 |
Notetoofficeheldincorporateshareholder
| Notetoofficeheldincorporateshareholder | No |
2.Officeheldinotherentities
√Applicable□Non-applicable
| Nameofpersonsinoffice | Nameofotherentity | Officeheldinotherentity | Dateofofficeheld | Dateofendofoffice |
| XieHuajun | NingboJifengAutoPartsCo.,Ltd. | Independentdirector | ||
| ZhaoXiangqiu | NingboJifengAutoPartsCo.,Ltd. | Independentdirector | ||
| WangYongbin | NBTMNewMaterialsGroupCo.,Ltd. | Independentdirector | ||
| WangYongbin | NingboDaZhiMachineTechnologyCo.,Ltd. | Independentdirector | ||
| Notestoofficeheldinotherentities | No | |||
（3）RemunerationofDirectors,SupervisorsandOfficers
√Applicable□Non-applicable
| Decision-makingprocedureastotheremunerationofdirectors,supervisorsandofficers | Underthe“ArticlesofAssociation”,theremunerationofdirectorsandsupervisorsisdecidedatthegeneralmeeting;theremunerationofofficersisfixedbytheBoardofDirectors. |
| WhethertheDirectorswithdrawthemselvesfromtheBoard'sdiscussionoftheirremunerationmatters | Yes |
| ParticularsoftherecommendationsmadebytheRemunerationandEvaluationCommitteeorthespecialmeetingofindependentdirectorsinrespectoftheremunerationofDirectors,Supervisorsandofficers | TheannualcompensationforIndependentDirectorsisdeemedappropriate,consideringthegeneralaverageofthecapitalmarket,thetypicalstandardswithintheindustry,andtheprofessionalguidanceorsupportofferedbyIndependentDirectorstotheBoardduringthereportingperiod.Additionally,theremunerationframeworkforseniormanagementhasbeendevelopedwithcarefulregardtotheindustrycontext,thesizeoftheorganization,thegeographicalareaofoperation,comparablefirms,andspecificbusinessoutcomes,ensuringthattheassessmentandpaymentofremunerationalignwiththeCompany'sArticlesofAssociationanditsrelevantremunerationand |
2024
| assessmentmanagementpolicies. | |
| Basisforfixingtheremunerationofdirectors,supervisorsandofficers | Fixedaccordingtotheindustryandlocalconditions,byreferringtothecomparablestandardofsimilarlistedcompaniesandtheactualconditionoftheCompany,whereapplicable |
| Actualpaymentoftheremunerationofdirectors,supervisorsandofficers | Duringthereportingperiod,theremunerationsofdirectors,supervisorsandofficershavebeenpaid. |
| Totalremunerationreceivedbyalldirectors,supervisorsandofficersattheendofthereportingperiod | RMB23.3237million(beforetax) |
（4）Changesindirectors,supervisorsandofficers
□Applicable√Non-applicable
(5)Notestopunishmentsimposedbysecuritiesregulatoryinstitutionsoverthepastthreeyears
□Applicable√Non-applicable
(6)Others
□Applicable√Non-applicableV.InformationabouttheBoardofDirectorsheldduringthereportingperiod
| Session | Dateofconvention | Resolution |
| The5thMeetingoftheFifthSessionoftheBoardofDirectors | January29,2024 | Thefollowingproposalswereconsideredandpassed:1.“ProposalonNewAmountofIdleProceedsEntrustedtoWealthManagement”2.“ProposalontheNewAmountofSupplementaryLiquidityofIdleProceeds3.“PropsoalonConveningtheFirstExtraordinaryGeneralMeetingofShareholdersin2024 |
| The6thMeetingoftheFifthSessionoftheBoardofDirectors | February7,2024 | Thefollowingmotionswereconsideredandpassed:1.“ProposalontheAmendmenttotheArticlesofAssociation”2.“ProposalonAdjustingthePlannedAllocationAmountofRaisedFundsforInvestmentProjects”3.“ProposalonAdjustingtheImplementationScheduleofCertainRaisedFundsInvestmentProjects”4.“ProposalonNotMakingDownwardAdjustmenttotheConversionPriceof"TuopuConvertibleBonds"5.“ProposalonCapitalIncreaseinWholly-OwnedSubsidiary(HuzhouTuopu)”6.“ProposalonCapitalIncreaseinWholly-OwnedSubsidiary(TuopuChongqing)”7.“ProposalonCapitalIncreaseinWholly-OwnedSubsidiary(USHONE)”8.**ProposalonCapitalIncreaseinWholly-OwnedSubsidiary(TuopuSkateboardChassis)**9.**ProposalonConveningtheSecondExtraordinaryGeneralMeetingofShareholdersin2024** |
| The7thMeetingoftheFifthSessionoftheBoardofDirectors | February26th,2024 | Thefollowingproposalswereconsideredandpassed:1.“ProposalontheProvisionofIndustrialPlantRentalGuaranteesforOverseasSubsidiaries” |
2024
| The8thMeetingoftheFifthSessionoftheBoardofDirectors | April22nd,2024 | Thefollowingproposalswereconsideredandpassed:1.“ProposalontheReportontheWorkoftheBoardofDirectorsfortheYear2023”2.“ProposalonthePerformanceReportoftheIndependentDirectorsfortheYear2023”3.“ProposalontheReportonthePerformanceoftheAuditCommitteeoftheBoardofDirectorsfortheYear2023”4.“ProposalontheWorkReportofthePresident(GeneralManager)fortheYear2023”5.“ProposalontheReportontheFiscalYear2023FinancialResults”6.“Proposalonthe2023InternalControlEvaluationReport”7.“ProposalontheDepositandUtilizationofProceedsintheYear2023”8.“ProposalonApplicationforCreditLinefromBanksandNon-BankFinancialInstitutionsintheYear2024”9.“ProposalonConductingBillsPoolBusinessintheYear2024”10.“ResolutionontheRenewaloftheAppointmentoftheAuditOrganizationfortheYear2024”11.“ProposalonProfitDistributionfortheYear2023”12.“ProposalontheFullTextandAbstractoftheAnnualReportfortheYear2023”13.“ResolutiononConfirmationofConnectedTransactionsfortheYear2023”14.“ProposalontheProjectedDailyConnectedTransactionsfortheYear2024”15.“ProposalontheEstimatedAmountofExternalGuaranteesfortheYear2024”16.“ProposalontheUseofPartofTemporarilyIdleProceedsforEntrustedWealthManagement17.“ProposalontheUseofPartofTemporarilyIdleProceedstoSupplementLiquidity”18.“ProposalontheUseofProceedstoReplaceSelf-financingFundsPre-investedinFundraisingProjects”19.“ProposalonConfirmationoftheRemunerationofDirectorsandSeniorManagementoftheCompanyfortheYear2023”20.“ProposalontheAdjustmentoftheMembershipofSomeSpecializedCommitteesoftheFifthSessionoftheBoardofDirectorsoftheCompany”21.“Proposalon<ReturnPlanforShareholders'DividendsfortheNextThreeYears(2024-2026)”22.“ProposalontheFormulationoftheCompany'sAccountingFirmSelectionandAppointmentSystem”23.“ProposalontheFormulationoftheCompany's”WorkingSystemforSpecializedMeetingsofIndependentDirectors”24.“ProposaltoamendtheCompany'sfund-raisingmanagementsystem”25.“ProposaltoamendtheCompany'sRulesofProcedureforGeneralMeetingsofShareholders”26.“ProposaltoAmendtheCompany'sAnnualReportingSystemforIndependentDirectors”27.“ProposaltoAmendtheRulesofProcedureoftheBoardofDirectorsoftheCompany”28.“ProposaltoAmendtheRulesofProcedureoftheRemunerationandEvaluationCommitteeoftheBoardofDirectorsoftheCompany”29.“ProposaltoAmendtheRulesofProcedureoftheNomination |
2024
| CommitteeoftheBoardofDirectorsoftheCompany”30.“ProposaltoamendtheRulesofProcedureoftheAuditCommitteeoftheBoardofDirectorsoftheCompany”31.“ProposaltoProposetheConveningoftheCompany's2023AnnualGeneralMeetingofShareholders” | ||
| The9thMeetingoftheFifthSessionoftheBoardofDirectors | April26th,2024 | Thefollowingproposalswereconsideredandpassed:1.“Proposalonthe<2024FirstQuarterlyReport>” |
| The10thMeetingoftheFifthSessionoftheBoardofDirectors | June3rd,2024 | Thefollowingproposalswereconsideredandpassed:1.“ProposalonNotAmendingtheConversionPriceofTuopuConvertibleBondsDownwards”2.“ProposalontheAmendmentoftheArticlesofAssociation” |
| The11thMeetingoftheFifthSessionoftheBoardofDirectors | August16th,2024 | Thefollowingproposalswereconsideredandpassed:1.“ProposaltoIncreasetheImplementingEntity,ImplementingLocationandExtensionofPartoftheFundraisingProject”2.“ProposaltoAmendtheArticlesofAssociationoftheCompany”3.“ProposaltoconvenetheThirdExtraordinaryGeneralMeetingofShareholdersin2024” |
| The12thMeetingoftheFifthSessionoftheBoardofDirectors | August28th,2024 | Thefollowingmotionswereconsideredandpassed:1.“Proposalon<TuopuGroup's2024Half-YearlyReport>anditssummary2.“Proposalon<TuopuGroup's2024Half-YearlySpecialReportontheDepositandUtilizationofProceeds3.“ProposalontheCompany'sForeignExchangeDerivativesBusinesssuchasForwardSettlementintheYear2024”.4.“ProposalonFormulatingtheCompany's<FuturesandDerivativesTradingManagementSystem>” |
| The13thMeetingoftheFifthSessionoftheBoardofDirectors | September26th,2024 | Thefollowingproposalwasconsideredandpassed:1.“ProposalonNotAmendingtheConversionPriceof“TuopuConvertibleBonds”Downwards”2.“Proposaltoincreasetheprojectedamountofdailyconnectedtransactionsfortheyear2024” |
| The14thMeetingoftheFifthSessionoftheBoardofDirectors | October14th,2024 | Thefollowingproposalswereconsideredandpassed:1.“ProposalontheUseofBillsandOwnFundstoPayfortheFundsRequiredforFundraisingProjectsandReplaceThemwithProceedsinEqualAmounts2.“Proposalonopeningadditionalspecialaccountforfund-raisingandsigningsupervisionagreement” |
| The1stExtraordinaryMeetingoftheFifthBoardofDirectors | October18th,2024 | Thefollowingproposalwasconsideredandpassed:1.“Proposaloncancelingtheuseofownfundsforreplacementanduseofnotestopayforthefundsrequiredforthefund-raisingprojectsandreplacingthemwiththeproceedsinanequalamount” |
| The15thMeetingoftheFifthBoardofDirectors | October28th,2024 | 1.“Proposalon<ThirdQuarterlyReportof2024>” |
2024
VI.PerformanceofDutiesbyDirectors
(1)Informationaboutthepresencesofdirectorsinboardmeetingandgeneralmeeting
| Nameofdirector | Whetherasindependentdirector | Presencesinboardmeeting | Presencesingeneralmeeting | |||||
| Numberofmandatoryattendancesinboardmeetingthisyear | Numberofattendancesinperson | Numberofattendancesbycommunicationmeans | Numberofattendancesbyproxy | Numberofabsences | Whetherfailedtopresentintwoconsecutivemeetingsinperson | Numberofpresences | ||
| WuJianshu | No | 12 | 12 | 0 | 0 | 0 | No | 4 |
| WuHaonian | No | 12 | 12 | 0 | 0 | 0 | No | 1 |
| WangBin | No | 12 | 12 | 0 | 0 | 0 | No | 4 |
| PanXiaoyong | No | 12 | 12 | 0 | 0 | 0 | No | 4 |
| WuWeifeng | No | 12 | 12 | 0 | 0 | 0 | No | 4 |
| WangWeiwei | No | 12 | 12 | 0 | 0 | 0 | No | 4 |
| ZhaoXiangqiu | Yes | 12 | 12 | 0 | 0 | 0 | No | 4 |
| WangYongbin | Yes | 12 | 12 | 0 | 0 | 0 | No | 4 |
| XieHuajun | Yes | 12 | 12 | 0 | 0 | 0 | No | 4 |
| ZhouYing | Yes | 12 | 12 | 0 | 0 | 0 | No | 4 |
Notestofailuretobepresentintwoconsecutivemeetingsboardmeetings
□Applicable√Non-applicable
| Numberofboardmeetingsconvenedintheyear | 12 |
| Including:numberofon-sitemeetings | 12 |
| Numberofmeetingsconvenedbycommunicationmeans | 0 |
| Numberofmeetingsconvenedonsitebycommunicationmeans | 0 |
(2)Informationabouttheobjectionsraisedbydirectorsagainstrelatedmatters
□Applicable√Non-applicable
2024
(3)Others
□Applicable√Non-applicableVII.InformationaboutSpecialCommitteesundertheBoard
√Applicable□Non-applicable
(1).MembersofspecialcommitteesundertheBoardofDirectors
| CategoryofSpecialCommittees | NameofMember |
| AuditingCommittee | XieHuajun(ChairmanandConvener),WangYongbin,WangWeiwei |
| NominationCommittee | WangYongbin(ChairmanandConvener),ZhaoXiangqiu,WuJianshu |
| RemunerationandAssessmentCommittee | ZhaoXiangqiu(Chairperson,Convener),XieHuajun,WuJianshu |
| StrategyandInvestmentCommittee | WangBin(Chairman,Convener),PanXiaoyong,XieHuajun |
(2)FourmeetingsheldbytheAuditingCommitteeduringthereportingperiod
| Dateofconvention | Session | KeyOpinionsandSuggestions | OtherCircumstancesaboutPerformanceofDuties |
| April12th,2024 | The2ndWorkingMeetingoftheAuditCommitteeoftheFifthSessionoftheBoardofDirectors | Thefollowingmatterswerediscussedandapproved:1.“ProposalontheReportonthe2023FinancialAccounts”2.“Proposalonthe2023InternalControlEvaluationReport”3.“ProposalonRenewaloftheAuditOrganizationfortheYear2024”4.“ProposalontheFullandSummaryoftheAnnualReportfortheYear2023”5.“ResolutiononConfirmationofConnectedTransactionsfortheYear2023”6.“ProposalontheEstimationofDailyConnectedTransactionsfortheYear2024”7.“ProposaltoEstablishtheCompany's<SelectionandAppointmentSystemforAccountingFirms>” | |
| Apr.16th,2024 | The3rdWorkingMeetingoftheAuditCommitteeoftheFifthSessionoftheBoardofDirectors | Thefollowingmatterwasdiscussedandapproved:1.“Proposalon<TuopuGroup'sFirstQuarterlyReportforFY2024>” | |
| August16th,2024 | The4thWorkingMeetingoftheAuditCommitteeoftheFifthSessionoftheBoardofDirectors | Thefollowingmatterswerediscussedandapproved:1.“Proposalon<TuopuGroup's2024Semi-AnnualReport>anditssummary”2.“ProposalontheCompany'sForeignExchangeDerivativesBusiness,includingForwardSettlement,fortheYear2024” | |
| October18th,2024 | The5thworkingmeetingofthe | Thefollowingmatterwasdiscussedandapproved:1.“Proposalon<TuopuGroup's2024Q3Report>” |
2024
(3)TheNominationCommitteeheld0meetingduringthereportingperiod
(4).TheRemunerationandAssessmentCommitteeheldtwomeetingsduringthereportingperiod
AuditCommitteeoftheFifthBoardofDirectorsDateofconvention
| Dateofconvention | Session | KeyOpinionsandSuggestions | OtherCircumstancesaboutPerformanceofDuties |
| April12,2024 | Resolutionpassedatthe2ndMeetingoftheCompensationandEvaluationCommitteeoftheFifthSessionoftheBoardofDirectors | Thefollowingmatterswerediscussedandapproved:RecommendationontheRemunerationofDirectorsandSeniorManagementoftheCompanyfortheYear2023 |
(5).TheStrategyandInvestmentCommitteeheldonemeetingduringthereportingperiod
| Dateofconvention | Session | KeyOpinionsandSuggestions | OtherCircumstancesaboutPerformanceofDuties |
| April22,2024 | The2ndworkingmeetingoftheStrategyandInvestmentCommitteeoftheFifthSessionoftheBoardofDirectors | ResolutionontheAdjustmentoftheMembersoftheStrategyandInvestmentCommitteeoftheFifthSessionoftheBoardofDirectorsoftheCompany |
(6).ParticularsabouttheObjectedMatters
□Applicable√Non-applicableVIII.NotestoRisksIdentifiedbytheBoardofSupervisors
□Applicable√Non-applicableTheSupervisoryCommitteehasnoobjectiontothesupervisionmattersduringthereportingperiod.IX.EmployeesoftheParentandMajorSubsidiariesattheEndofTheReportingPeriod
(1)ParticularsofStaffmembers
| Numberofstaffmembersservingtheparentcompany | 6,113 |
| Numberofstaffmembersservingmajorsubsidiaries | 16,584 |
| Totalnumberofstaffmembersinservice | 22,697 |
| Numberofretiringemployeestowhomtheparentcompanyandothersubsidiarieshavetobearcostsandexpenses | |
| Compositionofjobpositions | |
| Categoryofjobpositions | Numberofspecialists |
| Productionstaff | 13,365 |
| Marketingstaff | 540 |
| Technicalstaff | 5,870 |
| Financialstaff | 293 |
| Administrativestaff | 2,629 |
| Total | 22,697 |
2024
| EducationBackground | |
| Categoryofeducation | Numberofmembers(persons) |
| Holdersofdoctoral,masterdegrees | 245 |
| Holdersofbachelordegrees | 2,972 |
| Graduatedfromjuniorcollege,technicalsecondaryschool | 8,111 |
| Others | 11,369 |
| Total | 22,697 |
(2)Salarypolicy
√Applicable□Non-applicableInlinewiththestrategicdevelopmentneeds,coupledwiththeindustry-widesalaryandthelocalsalarylevel,thecompanyhasdrawnupasetofincentivecompensationsystem,andthesalarydistributionismoderatelyinclinedtostrategictalents,salesforceandtechnicalR&Dspecialists.Adheringtotheconceptofsustainabledevelopment,theCompanyisworkingtoimproveemployeewelfareandtreatmentintherapiddevelopmenttosharethedeliverablesandenhanceemployees'senseofgain;itfurthercontinuestogivemorepromotionopportunitiestoyoungtalentsinservice,providethemwith"open,fairandjust"careerplatformforcompetitiveopportunities.
Thecompensationpolicyissubjecttoachangefromtimetotimeasappropriatetodevelopment,personnelsupply,andexternalindustrysalaryconditions.Inlinewiththesustainabledevelopmenttrack,itwillcontinuetosolicitmoreelitestogrowtogether.
(3)Trainingplan
√Applicable□Non-applicable
Basedonthecharacteristicsoftheautomobileindustryandthedevelopmentplan,theCompanyhasdrawnupasystematicandefficienttrainingsystem,andcontinuouslyimproveditsindependentevaluationsystemforengineersandskilledtalents,withaviewtoservingitspersonnelneedsinrespectofR&D,technology,QC,quality,production,procurement,shipping,sales,finance,ITandhumanresources.
TheCompanyprovidesstaffmemberswithvariousopportunitiesforprofessionallearning,engagementinindustrytechnicalexchangesandmanagementforums,soasbroadenglobalhorizonofspecialists,giveemployeesatdifferentlevelsanaccesstosystematictraining,acquiregoodexpertiseandskills,andimprovetheirbusinessandmanagementcapabilities.Thelong-termsustainabledevelopmenthasbuiltupastrongpooloftalents.
(4)Outsourcingoflaborservices
□Applicable√Non-applicableX.Theplanfortheprofitdistributionofcommonstocksorthetransferofcapitalreserves
(1)Preparation,executionoradjustmentofcashdividendpolicy
□Applicable√Non-applicable
1.FormulationofcashdividendpolicyOnApril22,2024,theCompanyheldtheeighthmeetingofthefifthsessionoftheBoardofDirectors,andconsideredandapprovedthe"ProposalonthePlanforShareholderDividendsandReturnsintheNextThreeYears(2024-2026)".OnJune24,2024,thecompanyheldthe2023AnnualGeneralMeetinatwhichtheaboveproposalwasconsideredandapproved.Thecashdividendpolicyascontainedinthe"ShareholderDividendReturnPlanfortheNextThreeYears(2024-2026)"isdescribedasfollows:
Factorsunderconsideration:TheCompanypinpointslong-termsustainabledevelopment.Giventhis,effortsshouldbedonetoconsidertheactualoperatingconditions,developmentgoals,externalfinancingenvironment,andtherequirementsandwillsofinvestors,especiallysmallandmediuminvestorsinallaspects,andestablishasustainable,stable,rationalreturnplanningandmechanism,makinginstitutional
2024
arrangementsfordividenddistribution,guaranteereasonablereturnsbroughttoinvestors,andensurethecontinuityandstabilityofthedividenddistributionpolicy.Drawingupprinciples:theCompanyappliesapositiveprofitdistributionpolicyandvaluesreasonableinvestmentreturnsforinvestors.TheCompanyshouldmaintainthecontinuityandstabilityoftheprofitdistributionpolicywhiletakingintoaccountthelong-terminterests,theoverallinterestsofallshareholdersandthesustainabledevelopmentoftheCompany.TheBoardofDirectors,BoardofSupervisorsandgeneralmeetingshallconsidertheopinionsofindependentdirectorsandpublicinvestorsinthedecision-makingprocessandjustificationofprofitdistributionpoliciesinallaspects.Formofprofitdistribution:IftheCompanyiseligiblefordistributionofcashdividends,theprofitdistributionmethodofcashdividendsispreferred.Profitscanbedistributedincash,stock,oracombinationofboth.Conditionsfordistributionofcashdividends:Cashdividendscanbedistributedwherethefollowingconditionsaresatisfied:
(1)ThedistributableprofitrealizedbytheCompanyintheyear(theprofitaftertaxnettingofcoveringlossesanddrawingtheprovidentfund)isapositivevalue;
(2)Theauditorissuesastandardunqualifiedauditreportontheannualfinancialreport.Withtheaboveconditionsfordividenddistributionaresatisfied,afterthecompanyhasfullyreservedthestatutoryreservefundandsurplusreservefund,ifthereisnomajorcashpaymentorotherevents,theprofitdistributedincashinayear,inprinciple,shallnotbelessthan30%ofthedistributableprofitrealizedintheyear.Significantcashexpenditurereferstooneofthefollowingcircumstances:
①Theaccumulativeexpensesoftheproposedforeigninvestment,acquisitionofassets,equityorpurchaseofequipment,landandrealestateoveracourseofthenexttwelvemonthshavereachedorexceeded30%ofthelastauditednetassets;
②Theaccumulativeexpensesoftheproposedforeigninvestment,acquisitionofassets,equityorpurchaseofequipment,landandrealestateoveracourseofthenexttwelvemonthshavereachedorexceeded20%ofthelastauditednetassets;Providedthattherearesufficientcashdividendsavailablefordistribution,theCompanymayotherwiseincreasestockdividenddistributionandcapitalreserve.IftheBoardofDirectorsfailstomakeanannualcashprofitdistributionplan,ortheannualcashprofitdistributionratioislessthan30%ofthedistributableprofitsrealizedintheyear,itisnecessarytoaccountforfollowingcircumstances:
①Inviewofthecharacteristicsoftheindustryinwhichitcurrentlyengages,thestageofdevelopment,businessmodel,profitlevel,andwhethertherearemajorcapitalexpenditurearrangements,accountforthereasonsforfailingtodistributecashdividendsordistributingcashdividendsatalowlevel;
②Thespecificuseoftheretainedundistributedprofitsandtherelevantestimatedincome;
③Theindependentopinionsexpressedbyindependentdirectorsontherationalityofnoorlowlevelofdistributionofcashdividends.Aftertheendofeachfiscalyear,theBoardofDirectorscomesupwithadividenddistributionproposalandsubmitsittothegeneralmeetingforconsideration.TheCompanyembracessuggestionsandsupervisionfromallshareholders,independentdirectors,supervisorsandpublicinvestorsonthedividenddistribution.Percentandtimeintervalofcashdividends:TheBoardofDirectorsshouldconsiderfactors,suchasthecharacteristicsoftheindustryinwhichitcurrentlyengages,thestageofdevelopment,businessmodel,profitlevel,andwhethertherearemajorcapitalexpenditurearrangements,tellthedifferencesofthefollowingcircumstances,andproposedifferentiatedcashdividendpolicyfollowingtheproceduresassetoutintheArticlesofAssociation:
(1)Ifthedevelopmentstageismatureandthereisnomajorcapitalexpenditurearrangementoveracourseofthenexttwelvemonths,atthetimeofmakingprofitdistribution,thepercentofcashdividendsinthisprofitdistributionshouldbeatleast80%;
(2)Ifthedevelopmentstageismatureandthereisnomajorcapitalexpenditurearrangementoveracourseofthenexttwelvemonths,atthetimeofmakingprofitdistribution,thepercentofcashdividendsinthisprofitdistributionshouldbeatleast40%;
(3)Ifthedevelopmentstageismatureandthereisnomajorcapitalexpenditurearrangementoveracourseofthenexttwelvemonths,atthetimeofmakingprofitdistribution,thepercentofcashdividendsinthisprofitdistributionshouldbeatleast40%;
2024
(4)Ifthedevelopmentstageismatureandthereisnomajorcapitalexpenditurearrangementoveracourseofthenexttwelvemonths,atthetimeofmakingprofitdistribution,thepercentofcashdividendsinthisprofitdistributionshouldbeatleast20%;Ifitisdifficulttoidentifythedevelopmentstagebuttherearemajorcapitalexpenditurearrangementsoveracourseofthenexttwelvemonths,theprecedingparagraphmayapply.Inprinciple,thecompanydistributescashdividendsiftherelevantplanthasbeenconsidredandapprovedbytheannualgeneralmeeting.TheBoardofDirectorscanproposethecompanytodistributeinterimcashdividendsbasedontheprofitabilityandcapitalneeds.Conditionsfordistributionofstockdividends:WheretheoperatingconditionsaregoodandtheBoardofDirectorsbelievesthatthedistributionofstockdividendsinuretotheoverallinterestsofallshareholders,itcanproposeastockdividenddistributionplanprovidedthattherearesufficientcashdividendsavailablefordistribution.Wherestockdividendsareusedforprofitdistribution,thereshouldberealandreasonablefactorssuchasthegrowthofthecompanyandthedilutionofnetassetspershare.Decisionproceduresandmechanisms:TheannualprofitdistributionplanisproposedanddrawnupbytheBoardofDirectorsincombinationwiththeprovisionsofthisproposal,profitability,capitalsupplyanddemand,andindependentdirectorsexpressindependentopinionsontheprofitdistributionplan(Inordertoimplementtherequirementsofthereformoftheindependentdirectorsystem,theindependentdirectorsarenotrequiredtoexpresstheiropinionshere.),andsubmitittothegeneralmeetingforconsiderationandapprovalfollowingproperconsiderationandapprovalbytheBoardofDirectors.Independentdirectorscanaskforopinionsfromminorityshareholders,putforwarddividendproposals,andsubmititdirectlytotheBoardofDirectorsforconsiderationandapproval.Wherethegeneralmeetingconsidersontheprofitdistributionplan,theCompanyshallprovideshareholderswithonlinevotingmethods,communicateandcommunicatewithshareholders,especiallysmallandmediumshareholdersthroughapluralityofchannels,listentotheopinionsandappealsofsmallandmediumshareholders,andpromptlyanswertheconcernsofsmallandmediumshareholders.Assoonasthearesolutionontheprofitdistributionplanisadoptedatthegeneralmeeting,theBoardofDirectorsmustcompletethedistributionofdividends(orshares)within2monthsaftertheconventionofgeneralmeeting.IftheCompanyisprofitableinthecurrentyearandqualifiesforcashdividends,buttheBoardofDirectorsfailstosubmitaprofitdistributionplantothegeneralmeetingundertheestablishedprofitdistributionpolicy,itshallgivethereasons,thepurposeandutilizationplanofthefundsnotusedfordividendsretainedinthecompanyintheregularreport,andindependentdirectorswillexpressindependentopinions.Changesinthecompany-specificprofitdistributionpolicy:TheCompanyshoulddrawuporadjustdividendreturnplansandprotocolsasappropriateandinconjunctionwiththeopinionsofshareholders(especiallypublicinvestors)andindependentdirectors.However,theCompanyshouldprocurethecurrentandfuturedividendreturnplansandprotocolsnottoviolatethefollowingprinciples:whentheCompanyisprofitableintheyearandqualifiesforcashdividends,thecompanyshoulddistributedividendsincash,andtheprofitdistributedincashmustnotbelessthan20%ofthecurrentprofitdistribution.Ifitisnecessarytoadjusttheprofitdistributionpolicyduetomajorchangesintheexternalbusinessenvironmentoritsownbusinessconditions,theprotectionofshareholders’rightsandinterestsshouldbetakenasthestartingpoint,andthereasonsshouldbedemonstratedandexplainedindetailintheproposalofthegeneralmeetingofshareholders;theadjustedprofitdistributionpolicymustnotviolatetheprovisionsoftheCSRC.Therelevantregulationsoftheboardofdirectorsandthestockexchange;theproposalonadjustingtheprofitdistributionpolicymustbesubmittedtothegeneralmeetingofshareholdersforapprovalafterbeingconsideredandapprovedbytheboardofdirectorsandtheboardofsupervisors.Independentdirectorsshouldexpressindependentopinionsontheproposal,andthegeneralmeetingofshareholdersshouldadoptonlinevotingProvideconditionsforpublicshareholderstoattendandvoteinotherways.Theprofitdistributionpolicyadjustmentplanshallbeapprovedbymorethan2/3ofthevotingrightsheldbytheshareholderspresentatthegeneralmeeting.Materialchangeintheexternalbusinessenvironmentoroperatingconditionsshallreferto:1.Materialchangesinnationallaws,regulationsandindustrypoliciescauseamajoradverseimpactontheproductionandoperation,resultingintheoperatinglosses;2.Forcemajeurefactorssuchaswarsandnaturaldisastershavecausedmajoradverseeffectsontheproductionandoperation,resultinginoperatinglossesofthecompany;4.OthermattersasstipulatedbytheChinaSecuritiesRegulatoryCommissionandthestockexchange.
2.Implementationofcashdividendpolicy
2024
TheCompany's2023annualgeneralmeeting,whichwasconvenedJune24,2024,reviewedandapprovedtheprofitdistributionproposalfor2022presentedbytheBoardofDirectors.Accordingtothisproposal,acashdividendofRMB5.56per10shares(taxincluded)willbedistributedtoallshareholdersbasedonthenumberofsharecapitalregisteredonthedateofregistrationoftheshareregisterfortheequitydistribution.Thecapitalstockwasincreasedby4.5sharesforevery10shares.ThetotalnumberofsharesoftheCompanyasofDecember31,2023,was1,102,049,773shares.AsofJanuary26,2024,theCompanyhasatotalof1,102,049,773shares.Onthisdate,theCompanyfinalizedtheissuanceof60,726,104sharestodesignatedparties,resultinginanewtotalof1,162,775,877sharesfollowingtheregistrationofthisissuance.AcashdividendofRMB646,503,387.61(taxincluded)isproposedfordistribution,representing30.06%ofthenetprofitattributabletotheordinaryshareholdersasreflectedintheconsolidatedfinancialstatementsfortheyear.Theremainingundistributedprofitwillbecarriedovertothesubsequentyear.Shouldtherebeanychangesinthetotalnumberofsharesduetotheconversionofconvertiblebondsorotherfactorsbetweentheannouncementofthisprofitdistributionproposalandtheshareregistrationdatefortheequitydistribution,theCompanyplanstoupholdthecashdividendofRMB5.56(taxincluded)per10sharesasstated,whileadjustingthetotalcashdividendamountaccordingly.Asperthe“AnnouncementontheImplementationofTuopuGroup's2023EquityDistribution”releasedbytheCompanyonJuly12,2024,thetotalnumberofsharesoftheCompanyroseto1,162,775,947priortotheexecutionoftheproposal,followingtheadoptionoftheproposalonJune24,2024,andtheshareregistrationdatefortheequitydistributiononJuly18,2024,duetotheconversionoftheCompany'sconvertiblebonds,knownas'TuopuConvertibleBonds'.Furthermore,fromJuly18,2024,totheshareregistrationdatefortheequitydistribution,thetotalnumberofsharesremainedat1,162,775,947asaresultoftheconversionofthe'TuopuConvertibleBonds'.Consequently,theprofitdistributionwascalculatedbasedontheCompany'stotalsharecapitalof1,162,775,947sharespriortotheplan'simplementation,resultinginacashdividendofRMB0.556(iwithtaxincluded)pershare,amountingtoatotalofRMB646,503,426.53.TheCompanysuccessfullycompletedthepaymentofthisdividendonJuly19,2024.
(2)Specialnotetocashdividendpolicy
√Applicable□Non-applicable
| WhetherthispolicycomplieswiththeprovisionsoftheseArticlesofAssociationortherequirementsoftheresolutionsofthegeneralmeeting | √Y□N |
| Whetherthedividendstandardandproportionaredefinitiveandclear? | √Y□N |
| Whethertherelevantdecisionproceduresandmechanismsarecomplete? | √Y□N |
| Whetherindependentdirectorshaveperformedtheirdutiesofduediligenceandfulfilleddueroles? | √Y□N |
Whethertheminorityshareholdershavethechancetofullyexpresstheiropinionsanddemands,andwhethertheirlegitimaterightsandinterestsarefullyprotected?
(3)IftheCompanyearnsprofitduringthereportingperiodandtheparent'sprofitavailabletoshareholdersfordistributionispositive,butnocashprofitdistributionplanhasbeenproposed,theCompanyisrequiredtogivetheexactreasonsandtheintendeduseandtheplanofutilizingundistributedprofits.
□Applicable√Non-applicable
(4)Profitdistributionandthecircumstandesatwhichcapitalreservesareconvertedintoadditionalsharesduringthereportingperiod
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
√Y□NNumberofbonusissues(stocks)every10shares
| Numberofbonusissues(stocks)every10shares | |
| Numberofdividendsdistributed(yuan)(withtaxincluded)every10shares | 5.19 |
| Numberofadditionalshares(stocks)every10 |
2024
| shares | |
| Amountofcashdividends(withtaxincluded) | 901,936,666.02 |
| Netprofitattributabletocommonshareholdersofpubliccompanyintheconsolidatedstatement | 3,000,605,982.24 |
| Netprofitattributabletocommonshareholdersofpubliccompanyasapercentageintheconsolidatedstatement(%) | 30.06 |
| Theamountatwhichthesharesrepurchasedincasharerecognizedascashdividends | |
| Grossamountofdividends(withtaxincluded) | 901,936,666.02 |
| Ratioofthegrossamountofdividendstothenetprofitattributabletoordinaryshareholdersofthelistedcompanyintheconsolidatedstatement(%) | 30.06 |
(5)Cashdividendsforthelastthreefiscalyears
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Cumulativecashdividendamountforthelastthreefiscalyears(withtaxincluded)(1) | 2,058,688,465.64 |
| Cumulativeamountofrepurchaseandwrite-offinthelastthreefiscalyears(2) | |
| Cumulativeamountofcashdividendsandrepurchaseandwrite-offinthelastthreefiscalyears(3)=(1)+(2) | 2,058,688,465.64 |
| Averageannualnetincomeforthelastthreefiscalyears(4) | 2,283,793,345.35 |
| Proportionofcashdividendsinthelastthreefiscalyears(%)(5)=(3)/(4) | 90.14 |
| Netprofitattributabletocommonshareholdersofthelistedcompanyintheconsolidatedstatementofincomeforthemostrecentfiscalyear | 3,000,605,982.24 |
| Undistributedprofitattheendoftheyearintheparentcompany'sstatementforthemostrecentfiscalyear | 4,370,987,446.09 |
Note:“Averageannualnetincomeforthelastthreefiscalyears”assetoutintheabovetableiscalculatedbasedonthenetincomeattributabletocommonshareholdersofthelistedcompanyforthelastthreefiscalyears.
Ⅺ.ConditionsandImpactofEquityIncentivePlan,ESOP(employeestockownershipplan)orOtherEmployeeIncentiveMeasuresoftheCompany
(1)Relatedincentiveeventshavebeendisclosedintheprovisionalannouncementandthereisnoprogressorchangeinsubsequentimplementation
□Applicable√Non-applicableIncentivesthatarenotdisclosedintheprovisionalannouncementorthereisaprogressinsubsequentimplementationConditionofequityincentives
□Applicable√Non-applicableOthernotes
□Applicable√Non-applicableESOP
2024
□Applicable√Non-applicableOtherincentives
□Applicable√Non-applicable
(2)Shareincentivesgrantedbydirectors,supervisorsandofficersduringthereportingperiod
□Applicable√Non-applicable
(3)Duringthereportingperiod,theevaluationmechanismforofficers,aswellastheconditionofestablishmentandimplementationoftheincentivemechanism
□Applicable√Non-applicableⅫ.Constructionandexecutionofinternalcontrolsystemduringthereportingperiod
□Applicable□Non-applicable
Duringthereportingperiod,theCompanyhasestablishedastrictinternalcontrolmanagementsystemexactlyasperthelawsandregulationsformulatedbyCSRCandthoseunderthe“CompanyLaw”and“ArticlesofAssociation”,continuedtomodifiedandspecifiedsuchinternalcontrolmanagementsysteminconsiderationofindustry-widecharacteristicsanditsbusinessoperations,improvedtheefficiencyofbusinessdecisions,providedsomeguaranteeforthelegalcomplianceofbusinessoperationsandmanagementandtheassetsafety,andpromotedthesteadyexecutionofcompanystrategies.
Suchinternalcontrolsystemisstructurallyreasonable,theinternalcontrolsystemframeworksuitstherequirementsoffiveministriesandcommissionsincludingtheMinistryofFinanceandtheChinaSecuritiesRegulatoryCommissionthatinternalcontrolsystemshouldbecomplete,reasonableandeffective,andmeetstheneedsofcompanymanagementanddevelopment.TheCompanyismodifyingtheinternalcontrolsystemandmakingitwork,hasattainedtheanticipatedobjectiveastointernalcontrol,andprotectedtheinterestsoftheCompanyandallshareholders.
Atthe12thmeetingoftheFifthSessionoftheBoardofDirectors,the"Proposalonthe2024InternalControlEvaluationReport"wasconsideredandpassed,andthefulltextofthe“2024InternalControlEvaluationReportofTuopuGroup”wasdisclosedontheSSEwebsiteonthesameday.Notestosignificantdeficienciesininternalcontrolduringthereportingperiod
□Applicable√Non-applicableXIII.Managementandcontrolstatusofsubsidiariesduringthereportingperiod
□Applicable□Non-applicable
Duringthereportingperiod,theCompanysubjecteditssubsidiariestototalbudgetcontrolandenhancedtheearlywarningcompetencebymodifyingtheeffectiveinternalcontrolmechanism.Withaninternalcontrolsystemdeployedfromthemanagementleveltothebusinesslevel,theCompanyfurtherstrengthenedtheabilityintotalriskcontrolbyperformingfinancialdataanalysisontheOAandERPsystems.
XIV.Notestorelevantinformationontheinternalcontrolauditreport
√Applicable□Non-applicable
TheCompanyappointedBDOChinaShuLunPanCertifiedPublicAccountantsLLP(SpecialGeneralPartnership)toaudititsinternalcontrolandissuedstandardunqualifiedauditreport.Moredetailsareavailableinthe“2024InternalControlAuditReportofNingboTuopuGroupCo.,Ltd.”asdisclosedontheSSEwebsiteonthesameday(XinKuaiBaoZi[2025]No.ZF10449).Whethertheinternalcontrolauditreporthasbeendisclosed:YesTypeofinternalcontrolauditreport：Standardandunqualifiedauditreport
2024
XV.Rectificationofself-examiningproblemsinthespecialactionastolistedcompanygovernanceNon-applicableXVI.Others
□Applicable√Non-applicable
Section5EnvironmentalandSocialResponsibility
Ⅰ.Informationaboutenvironment
| Whethertoestablishrelevantmechanismsforenvironmentalprotection | Yes |
| Fundsinvestedinenvironmentalprotectionduringthereportingperiod(unit:inRMB10,000) | 7,843.42 |
(1)Notestotheenvironmentalprotectionconditionsofcompaniesandtheirimportantsubsidiariesannouncedbytheenvironmentalprotectionauthorityaskeyemissionentities
√Applicable□Non-applicable
1.Informationaboutemissions
√Applicable□Non-applicable
| S/N | Nameofcompany/subsidiary | Dischargestatus/category |
| 1 | NingboTuopuGroupCo.,Ltd. | |
| (1)FactoryNo.36,GuanhaiRoad,BeilunDistrict | Waterenvironment,hazardouswaste | |
| (2)ChunxiaoSuspensionPlant,BeilunDistrict | Hazardouswaste,radiation | |
| (3)LongtanshanRoadFactory,BeilunDistrict | Hazardouswaste,radiation | |
| 2 | NingboTuopuChassisSystemsCo.,Ltd. | Hazardouswaste |
| 3 | NingboTuopuAutomobileElectronicsCo.,Ltd. | Hazardouswaste,radiation |
| 4 | TuopuElectricVehicleThermalManagementSystem(Ningbo)Co.,Ltd. | Hazardouswaste |
| 5 | TuopuSkateboardChassis(Ningbo)Co.,Ltd. | Hazardouswaste |
| 6 | SuiningTuopuAutomobileChassisSystemsCo.,Ltd. | EnvironmentalRisks |
| 7 | ZhejiangTuopuAutomobilePartsCo.,Ltd. | EnvironmentalRisks |
| 8 | HunanTupopuAutomobilePartsCo.,Ltd. | EnvironmentalRisks |
2.Constructionandoperationofpollutioncontrolfacilities
√Applicable□Non-applicable
| S/N | NameofCompany/Susidiary | Constructionandoperationofpollutionpreventionandcontrolfacilities |
| 1 | NingboTuopuGroupCo.,Ltd. | TheconstructionandoperationofpollutionpreventionandcontrolfacilitiesinBeilunDistrictGuanhaiRoadNo.36Factory,ChunxiaoSuspensionFactoryandLongtanshanRoadFactoryareasfollows:1.Rainwaterandsewagediversionandcleansewagediversionare |
2024
| practiced.2.Productionwastewater:theproductionwastewaterasgatheredfromtheplantareaviathepipelinetotheregulatingtankofsewagetreatmentstationaresubjecttoneutralization,flocculation,coarsesedimentation,airflotation,acidifying,aerobicbiochemistryreaction,sedimentationandregulating.Onceacceptabletothestandard,theproductionwastewaterwillbedischargedtothemunicipalsewagepipeline,anintelligentsewagetreatmentcontrolsystemthatcanpreventanyunacceptablesewagefromaccessingtothemunicipalsewagepipeline.Anautomaticmonitoringsystemisimplementedintheplantarea,whichallowstheenvironmentalprotectionauthoritytomonitorhowthesewagestationoperatesintheplantarea.3.Domesticsewage:Theoilywastewatergeneratedinthecanteenispretreatedbytheoiltrappingfacility,andthedomesticsewageistreatedbytheseptictank.OnceacceptabletothepipelineconveyancestandarddesignatedbytheSewageTreatmentPlant,thedomesticwastewaterwillbedischargedtothemunicipalsewagepipelinesystem.TheabovewastewaterandsewagesubjecttothetreatmentprocessarefinallydischargedtoChunxiaomunicipalsewagepipelinesystemviaadrainoutlet,finallytoChunxiaoSewageTreatmentplant.ThenormativestandardapplicabletosewagedischargeofChunxiaoPlant:totalzincissubjecttoGrade1standardascontainedinTable4ofthe"IntegratedWastewaterDischargeStandard"(GB8978-1996),othercontentsaresubjecttothepipelineconveyancestandardofChunxiaoSewageTreatmentPlant.Actualdataofproductionwastewatertest:totalzincis0.038mg/L,pHvalueis8.31,suspendedmatteris10mg/L,CODis55mg/L;domesticwastewatertestdata:pHvalueis7.60,suspendedmatteris97mg/L,CODItis354mg/L,alldataareacceptable.4.Intheplant,rubberscraps,non-conformingproductsinproduction,andscrapmetalgeneratedbymoldrepairareidentifiedasgeneralsolidwastes,sortedoutbycategory,thendisposedandrecycled.Wasteactivatedcarbon,wastepaintslags,picklingandphosphateslags,andwasteoilgeneratedintheproductionprocessareidentifiedashazardouswastes,ayardforstorageofhazardouswasteshasbeensetupinaccordancewiththenationalapplicableprovisions.TheapplicationfortransferofhazardouswasteshasbeensubmittedinaccordancewiththeapplicablemanagementprovisionsofNingboEcologicalEnvironmentBureau.AndtheagreementsfordisposalofhazardouswasteshavebeensignedwithNingboBeilunEnvironmentalSolidWasteDisposalCo.,Ltd.,HangzhouFuyangShennengSolidWasteEnvironmentalRecyclingCo.,Ltd.,andNingboZhendeEnvironmentalTechnologyCo.,Ltd. | ||
| 2 | NingboTuopuChassisSystemsCo.,Ltd. | 1.Thematerialscategorizedasgeneralsolidwasteincludeindustrialwastefromplants,balingtape,wasterubber,scraprubberproductscontainingironorsteel,scrapaluminum,wastemoldmaterials(suchasangleheadsandironchips),cookedironfoam,wastewood,solidcastingsand,scrapironorsteelproducts,wastecopper,wastebrassblocks,wastecardboardboxes,iron,wirebarrels,steelfroth,shotpeeningash,andsand.Thesematerialsarecollectedforunifiedexternalsalesandcomprehensiveutilization.2.Wasteplasticdrumsintheplant,wasteirondrums,wastecuttingfluid,wasteoil,sludge,aluminumashandaluminumdregsarehazardouswaste,inaccordancewiththenationalhazardouswastecollection,packaging,storage,transportation,disposalrequirementsfortheestablishmentofhazardouswasteyardsandwarehouses,andinaccordancewiththerequirementsoftheEnvironmentalProtectionBureauofthehazardouswastemanagementunifiedinthe“nationalsolidwaste |
2024
| andchemicalmanagementinformationsystem”forthetransferofhazardouswastes.“Hazardouswastetransferdeclaration.ThefactoryentrustedHongkongChengInspectionTechnology(Ningbo)Co.,Ltd.totest,andallthetestsarequalified.Thefactoryhassignedthesolidwasteandhazardouswastedisposalagreementwiththefollowingunits:ZhejiangEnvironmentalProtectionGroupBeilunShangkeEnvironmentalProtectionTechnologyCo.,Ltd.,NingboJuxinEnvironmentalProtectionProductsCo.,Ltd.，ZhejiangLvchenEnvironmentalTechnologyCo.,Ltd.，ZhejiangMeichenNewMaterialsTechnologyCo.,Ltd.，ZhejiangHuanyiResourceUtilizationCo.,Ltd.，NingboBeilunWolongEnvironmentalTechnologyCo.,Ltd.,andZhejiangHudingEnvironmentalTechnologyCo.,Ltd. | ||
| 3 | NingboTuopuAutomobilePartsCo.,Ltd. | 1.Itimplementsrainwaterandsewagediversionandcleansewagediversion.2.Productionwastewater:Aftercollectingallproductionwastewaterfromtheplanttothecollectiontankofsewagetreatmentstationthroughpipeline,itwillbedischargedintothemunicipalsewagepipelineafterpretreatment,mediation,reaction,precipitation,neutralization,hydrolysisacidification,aerobicbiochemistry,secondaryprecipitation,flocculationprecipitation,andotherprocessestofinallyreachthestandard.Eliminatenon-standardsewageintothemunicipalpipelinenetwork.3.DomesticWastewater:Theoilywastewatergeneratedbythecafeteriaispre-treatedbygreasetraps,andthedomesticwastewateristreatedbyseptictanks,andthendischargedintothemunicipalwastewaterpipelinenetworkofHangzhouBayNewAreaafterreachingthestandardofHangzhouBayNewAreaSewageTreatmentPlant.Aftertheabovewastewaterandsewagetreatment,onewayofwastewaterandwastewaterisdischargedintoHangzhouBayNewAreamunicipalsewagepipelinethrough02WS863outlet,andtheotherwayofwastewaterisdischargedintoHangzhouBayNewAreamunicipalsewagepipelineintothecitysewagetreatmentplantthrough01WS703outlet.Factorywastewaterdischargestandardsfor:GB8978-1996"ComprehensiveEmissionStandardsforSewage"inthethirdlevel,ammonianitrogenandtotalphosphorustoimplementthe"ZhejiangProvince,localstandardsforindustrialwastewaternitrogen,phosphoruspollutantsindirectdischargelimits"(DB33/887-2013)dischargedintothemunicipalwastewaternetwork,andultimatelybythewastewatertreatmentplanttreatmentofthe"urbansewagetreatmentplantpollutantemissionstandards"(GB18918-2002),andthendischargedintothemunicipalsewagepipenetwork.HangzhouBayfactorysewageaftertreatmentintothecitynetworkstandards.Actualproductionwastewatertestingdata:DischargeOutlet1:pH8.4,COD44mg/L,ammonianitrogen1.27mg/L,suspendedsolids32mg/L,petroleum0.41mg/L,totalphosphorus0.67mg/L,zinc1.09mg/L,anionicsurfactant0.24mg/L,totalnitrogen5.55mg/L,five-daybiochemicaloxygendemand4.4mg/L;DischargeOutlet2:pH6.6,COD180mg/L,suspendedsolids7mg/L,petroleum0.37mg/L,totalphosphorus0.11mg/L,anionicsurfactant0.16mg/L,five-dayBOD35.5mg/L,allofwhichmeettherequirements.4.Metaltrimmingswithinthefacility,non-compliantproductsduringproduction,maintenanceofwastemetalmolds,rubberedges,andwastepackagingareclassifiedasgeneralsolidwaste.Theseitemsaresubjecttounifiedcollection,sale,andcomprehensiveutilization.Hazardouswastesuchaswastepaintresidue,wasterubber,wastepackagingdrums,sludge, |
2024
| activatedcarbon,cleaningwasteliquid,wasteemulsion,wasteengineoil,aluminumash,andaluminumdregsmustbehandledinaccordancewithnationalregulations.HazardouswasteyardsandwarehousesshouldbeestablishedtomeettherequirementsoftheEnvironmentalProtectionBureau.Thetransferofhazardouswastedeclarationshouldbedonethroughthe"NationalSolidWasteandChemicalManagementInformationSystem"anddisposalagreementswithNingboBeilunEnvironmentalProtectionSolidWasteDisposalCo.,Ltd.,ZhejiangKaikangMetalProductsCo.,Ltd.,NingboBochuanWasteLiquidDisposalCo.,Ltd.,DongyangMasonIndustryandTradeCo.,Ltd.,NingboJuxinEnvironmentalProtectionProductsCo.,Ltd.,ZhejiangLvchenEnvironmentalProtectionScienceandTechnologyCo.,Ltd.,andZhejiangEnvironmentalProtectionGroupBeilunShankeEnvironmentalProtectionScienceandTechnologyCo.,Ltd.mustbeadheredto. | ||
| 4 | NingboElectricVehicleThermalManagementSystem(Ningbo)Co.,Ltd. | 1.Rainwaterandsewagediversionandcleansewagediversionispracticed.2.Productionwastewater:Aftercollectingallproductionwastewaterfromtheplanttothecollectiontankofsewagetreatmentstationthroughpipeline,itwillbedischargedintothemunicipalsewagepipelineafterpretreatment,mediation,reaction,precipitation,neutralization,hydrolysisacidification,aerobicbiochemistry,secondaryprecipitation,flocculationprecipitation,andotherprocessestofinallymeetthestandard.Eliminatenon-standardsewageintothemunicipalpipelinenetwork.3.DomesticWastewater:Theoilywastewatergeneratedbythecafeteriaispre-treatedbygreasetrapfacilities,andthedomesticwastewateristreatedbyseptictanks,andthendischargedintothemunicipalsewagenetworkofHangzhouBayNewAreaafterreachingthestandardofHangzhouBayNewAreaSewageTreatmentPlant.Aftertheabovewastewaterandsewagetreatment,threeofthesewageandwastewateraredischargedintoHangzhouBayNewAreamunicipalsewagepipelinethroughWS808,WS111andWS101drainageoutletsintothecitysewagetreatmentplant.ThefactoryadherestothesewagedischargestandardsoutlinedinGB8978-1996,knownasthe"comprehensivesewagedischargestandards"atthethirdlevel.Accordingtothesestandards,thefactorydischargesammonianitrogenandtotalphosphorusintothemunicipalsewagenetwork,followingthelimitssetbythelocalstandardsforindustrialwastewaternitrogenandphosphoruspollutantsindirectdischargelimitsinZhejiangProvince(DB33/887-2013).Thedischargedwastewateristhentreatedatthesewagetreatmentplanttomeetthe"municipalwastewatertreatmentplantemissionstandards"atlevel1,asspecifiedinGB18918-2002.AftermeetingtheClassAstandardofGB18918-2002,thetreatedwastewaterisdischargedintothesea.InHangzhouBay,thefactory'ssewageistreatedaccordingtothemunicipalpipelinenetworkstandards.Theactualtestingdataofthewastewaterproducedduringthefactory'sproductionprocessisasfollows:thepHvalueis7.3,CODis358mg/L,ammonianitrogenis7.58mg/L,suspendedsolidsare85mg/L,petroleumis0.21mg/L,totalphosphorusis1.06mg/L,zincis0.01mg/L,anionicsurfactantis0.66mg/L,totalnitrogenis4.57mg/L,andfive-daybiochemicaloxygendemandis156mg/L.Thesevaluesareincompliancewiththerequiredstandards.Metaltrimmingswithintheplantareusedintheproductionofsubstandardproducts,whilewastemetalmoldmaintenance,rubberedges,andwastepackagingareconsideredgeneralsolidwaste.Thesematerialsaresubjecttounifiedcollectionandsaleforcomprehensiveutilization. |
2024
| Hazardouswaste,suchaswastepaintresidue,wasterubber,wastepackagingdrums,sludge,activatedcarbon,cleaningwasteliquid,wasteemulsion,wasteengineoil,aluminumash,andaluminumdregs,mustbehandledinaccordancewithnationalregulations.Thisincludespropercollection,packaging,storage,transportation,anddisposal.Hazardouswasteyardsandwarehousesshouldbeestablishedtomeettheserequirements.Additionally,compliancewiththeEnvironmentalProtectionBureau'sguidelinesforhazardouswastemanagementisessential.Variouscompanies,includingNingboBeilunEnvironmentalProtectionSolidWasteDisposalCo.,Ltd.,ZhejiangKaikangMetalProductsCo.,Ltd.,NingboBochuanWasteLiquidDisposalCo.,Ltd.,DongyangMeichenIndustryandTradeCo.,Ltd.,NingboJuxinEnvironmentalProtectionProductsCo.,Ltd.,ZhejiangLvchenEnvironmentalProtectionTechnologyCo.,Ltd.,andZhejiangProvinceEnvironmentalProtectionGroupBeilunShangkeEnvironmentalProtectionScienceandTechnologyCo.,Ltd.,havesignedhazardouswastedisposalagreementstoensureproperhandlingofsuchmaterials. | ||
| 5 | TuopuSkateboardChassis(Ningbo)Co.,Ltd. | 1.Rainwaterandsewagediversionandcleansewagediversionareimplemented.2.Productionwastewater:Aftercollectingallproductionwastewaterfromtheplanttothecollectiontankofthewastewatertreatmentstationthroughthepipeline,itwillbedischargedintothemunicipalwastewaterpipelineafterpretreatment,mediation,reaction,precipitation,neutralization,hydrolysisandacidification,aerobicbiochemistry,secondaryprecipitation,flocculationandprecipitation,andotherprocessesthatfinallymeetthestandard.Eliminatenon-standardsewageintothemunicipalpipelinenetwork.3.DomesticWastewater:Theoilywastewatergeneratedbythecafeteriaispre-treatedbygreasetraps,andthedomesticwastewateristreatedbyseptictanks,andthendischargedintothemunicipalwastewaterpipelinenetworkofHangzhouBayNewAreaafterreachingthestandardofHangzhouBayNewAreaSewageTreatmentPlant.Aftertheabovewastewaterandsewagetreatment,onewayofwastewaterandwastewaterisdischargedintoHangzhouBayNewAreamunicipalsewagepipelinethroughWS0001outlet,andtheotherwayofwastewaterisdischargedintoHangzhouBayNewAreamunicipalsewagepipelineintothecitysewagetreatmentplantthroughWS0155outlet.ThefactoryadherestothesewagedischargestandardGB8978-1996,classifiedasthethirdlevelunderthe"ComprehensiveSewageDischargeStandard."Ammonianitrogenandtotalphosphoruswillbereleasedintothemunicipalsewagesystemfollowingthe"IndirectEmissionLimitsofNitrogenandPhosphorusPollutantsinIndustrialEnterprisesWastewater,LocalStandardofZhejiangProvince"(DB33/887-2013).Subsequently,thesesubstanceswillundergotreatmentatthewastewatertreatmentfacilitytocomplywiththe"PollutantEmissionStandardforUrbanWastewaterTreatmentPlants"(GB18918-2002)atthefirstlevel,specificallytheClassAstandard,beforebeingdischargedintothesea.ThetreatedsewagefromtheHangzhouBayfactorymeetsthemunicipalpipelinenetworkstandards.TheactualwastewatertestingresultsindicateapHof7.6mg/L,chemicaloxygendemandof62mg/L,five-daybiochemicaloxygendemandof19.4mg/L,suspendedsolidsof18mg/L,totalphosphorusof0.04mg/L,ammonianitrogenof0.948mg/L,petroleumat1.70mg/L,anionicsurfactantat0.908mg/L,totalaluminumat0.087mg/L,andtotalnitrogenat5.087mg/L.Alltheseparameterscomplywiththeestablishedrequirements. |
2024
| Industrialwasteintheplant,balingtape,wastesawblades,wasterubberedge,scraprubber-containingiron(just)products,scraprubber-containingaluminumproducts,wastemoldmaterials,(wastemoldmaterials,ironchips,cookedironfoam),scrapiron(just)products,wastecopper,wastebrass,wastecardboardboxes,iron,wirebarrels,steelfoambelongstothegeneralsolidwaste,afterthecollectionoftheunifiedoutsourcingofcomprehensiveutilization.Forwasteplasticdrums,wasteirondrums,wastecuttingfluid,wasteoil,sludge,aluminumashaluminumslagarehazardouswaste,accordingtothenationalhazardouswastecollection,packaging,storageandtransportation,disposalrequirementsfortheestablishmentofhazardouswasteyardsandwarehouses,andaccordingtotheEnvironmentalProtectionBureauofthehazardouswastemanagementrequirementsunifiedinthe"NationalSolidWasteandChemicalManagementInformationSystem".NingboChengjiePropertyManagementCo.,Ltd.,NingboYibangRenewableResourcesCo.,Ltd.,NingboBochuanWasteLiquidDisposalCo.,Ltd.,DongyangMasonIndustryandTradeCo.,Ltd.,NingboJuxinEnvironmentalProtectionProductsCo.,Ltd.,ZhejiangLvchenEnvironmentalProtectionScienceandTechnologyCo.,Ltd.,ZhejiangEnvironmentalProtectionGroupBeilunShangkeEnvironmentalProtectionTechnologyCo.,Ltd.AndsignedatechnicalserviceagreementregardingemulsionseparationwithFrankLubricationTechnology(Taizhou)Co.,Ltd. | ||
| 6 | SuiningTuopuAutomobileChassisSystemsCo.,Ltd. | 1.Diversionofrainwaterandsewage,diversionofcleanwaterandsewageispracticed.2.Productionwastewater:theproductionwastewaterasgatheredfromtheplantareaviathepipelinetotheregulatingtankofsewagetreatmentstationaresubjecttoneutralization,flocculation,coarsesedimentation,airflotation,acidifying,aerobicbiochemistryreaction,sedimentationandregulating.Onceacceptabletothestandard,theproductionwastewaterwillbedischargedtoLongyanjingSewageTreatmentPlant.Anautomaticmonitoringsystemisimplemented,whichallowstheenvironmentalprotectionauthoritiesatalllevelsinSichuantomonitorhowthesewagestationoperatesintheplantareaandtheemissionindexes.3.Domesticsewage:Theoilywastewatergeneratedinthecanteenispretreatedbytheoiltrappingfacility,theLongyanjingWastewaterTreatmentPlantreceivesdomesticsewageafterithasundergonepre-treatmentinseptictanks.Thesewageisthentreatedanddischargedinaccordancewiththesetstandards.TheabovewastewaterandsewagesubjecttothetreatmentprocessaredischargedintothemunicipalsewagepipelineofAnjuIndustrialConcentrationDevelopmentZone,finallytoLongyanjingSewageTreatmentPlant.Theimplementationstandardofsewagedischargeintheplantisthetertiarystandardof“ComprehensiveSewageDischargeStandard”GB8978-1996.Sewageaftertreatmentintothecitypipenetworkstandards.Theactualproductionwastewatertestdata:totalnickel0.016mg/L,pHvalue7.2,COD212.6mg/L,ammonianitrogen6.32mg/L,petroleum0.21mg/L.Thedomesticwastewatertestdata:pHvalue7.73,suspendedsolids1.78mg/L,COD105.3mg/L,allinlinewiththerequirements.4.Metalscrapsgeneratedinthefactory,alongwithnon-compliantproductsfromproductionandwastemetalfrommoldmaintenance,areclassifiedasgeneralsolidwaste,whichiscollectedandsoldforcomprehensiverecycling.Conversely,wastematerialssuchaspaintsludge,picklingphosphateresidues,andusedoilarecategorizedas |
2024
| hazardouswaste.Incompliancewithnationalregulationsregardingthecollection,packaging,storage,transportation,anddisposalofhazardouswaste,designatedhazardouswasteyardsandwarehousesmustbeestablished,incorporatingmeasurestopreventseepage,leaks,andspills.Additionally,hazardouswastemanagementrecordsshouldbemaintained,andajointbillofladingsystemfortransfersmustbeimplemented,adheringtotheguidelinessetforthbytheEcologicalandEnvironmentalProtectionBureauforhazardouswastetransferdeclarations.AhazardouswastedisposalagreementhasbeenestablishedbetweenSuiningTuopuandSichuanXingmaoPetrochemicalCo.,Ltd.Theplantarrangesproductionfacilitiesinareasonableway,improvesprocessesandincreasetherecyclingofwater,andreducestheemissionsofsewage.Theautomaticsewagemonitoringsystemisoperatingnormallyandconnectedtotheenvironmentalprotectionauthorityfordatatransmissioninrealtime,andtheenvironmentalprotectionauthoritiesattheprovincial,cityandcountylevelscanmonitoritinrealtime. | ||
| 7 | ZhejiangTowinAutomobilePartsCo.,Ltd. | 1.Diversionofrainwaterandsewage,diversionofcleanwaterandsewageispracticed.2.Productionwastewater:theproductionwastewaterasgatheredfromtheplantareaviathepipelinetotheregulatingtankofsewagetreatmentstationaresubjecttoneutralization,flocculation,coarsesedimentation,airflotation,acidifying,aerobicbiochemistryreaction,sedimentationandregulating.Onceacceptabletothestandard,theproductionwastewaterwillbedischargedtothemunicipalsewagepipelineoftheDevelopmentZone.Anautomaticmonitoringsystemisimplementedtopreventanyunacceptablesewagefromaccessingtothemunicipalsewagepipeline.Theenvironmentalprotectionauthoritiesatalllevelsacrossthenationcanmonitorhowthesewagestationoperatesintheplantareaandtheemissionindexes.3.Domesticsewage:Theoilywastewatergeneratedinthecanteenispretreatedbytheoiltrappingfacility,andthedomesticsewageistreatedbytheseptictank.OnceacceptabletothepipelineconveyancestandarddesignatedbyWuyiNO.1SewageTreatmentPlant,thedomesticwastewaterwillbedischargedtothemunicipalsewagepipelinesystem.TheabovewastewaterandsewagetreatmentisfinallydischargedintothemunicipalsewagepipelineofWuyiBaihuashanIndustrialParkthroughasewageoutfallandintotheWuyiFirstSewagePlantfortreatment.PlantsewagedischargestandardsforGB8978-1996“comprehensivesewagedischargestandards”inthethirdlevel,sewageaftertreatmentintothecitypipenetworkstandards.Theactualproductionofwastewatertestingdata:pHvalueof7.15,suspendedsolids28mg/L,COD42.24mg/L,five-dayBOD45.2mg/L,ammonianitrogen9.206mg/L,totalphosphorus0.092mg/L,0.55mg/L,petroleum,anionicsurfactant6.05mg/L,areinlinewiththerequirements.4、Metaltrimmingsintheplant,non-conformingproductsinproduction,moldmaintenanceofwastemetalisgeneralsolidwaste,afterunifiedcollectionandsaleofcomprehensiveutilization.Forthewastepaintslag,picklingphosphatingslag,activatedcarbon,etc.arehazardouswaste,accordingtothenationalhazardouswastecollection,packaging,storage,transportation,disposalrequirementstoestablishahazardouswasteyardandwarehouse,andinaccordancewiththeWuyiEnvironmentalProtectionBureauofhazardouswastemanagementrequirementsintheZhejiangProvinceSolidWasteSupervisionandManagementInformationSystemforthetransferofhazardouswastestodeclare,andZhejiangRedLionEnvironmentalProtectionCo.Ltd.andZhejiangYulong |
2024
| EnvironmentalProtectionTechnologyCo.,Ltd.Thefactoryhasreasonablelayoutofproductionequipment,optimizetheprocess,increasethereuseofwaterresources,reducetheamountofsewagedischarge,sewageautomaticmonitoringsystemrunningnormally,andwiththeenvironmentalprotectiondepartment,wehavesignedtheagreementonthedisposalofhazardouswastes. | ||
| 8 | HunanTowinAutomobilePartsCo.,Ltd. | 1.Rainwaterandsewagediversionispractice.2.Productionwastewater:1wastewatertreatmentstation,withatreatmentcapacityof15m3/h,treatmentprocessesinclude:fluorescentosmosissolutioncleaningwastewaterpretreatmentprocess,hydrolysisadjustmentprocess,biochemicalcontactoxidationprocess,depthtreatmentprocess,etc.;productionwastewaterisoptimizedandadjusted,and60%ofthewatertreatedbythewastewatertreatmentstationisreusedforproduction,and40%ofthewastewaterisdischargedintomunicipalwastewaterpipelinenetworkaftertreatmentuptothestandard;thewastecuttingfluid,asahazardouswaste,itwillbehandedovertothethirdpartyqualifiedunitfortreatment.3.Domesticwastewater:greasetrap(20m3/d)andseptictank(50m3/d)aredischargedintothemunicipalsewagenetworkaftertheseptictanktreatmentisuptostandard.Aftertreatment,theabovewastewaterandsewagearedischargedintoXiangtanmunicipalsewagepipelineintoJiuhuaSewagePlantthroughthefactory'stotaloutletDWO01outlet.4.Metaltrimmingsintheplant,theproductionofsubstandardproducts,moldmaintenanceofwastemetal,rubberedges,wastepackagingbelongstothegeneralsolidwaste,afterunifiedcollectionandsaleofcomprehensiveutilization.Forwasterubber,wastedrums,sludge,wasteactivatedcarbon,wasteemulsion,wasteoil,aluminumash,aluminumslag,dustcollectedbybagfilterarehazardouswaste,accordingtothenationalrequirementsforhazardouswastecollection,packaging,storageandtransportation,disposalofhazardouswastewarehousehasbeensetup,andaccordingtotherequirementsoftheEnvironmentalProtectionBureauofthemanagementofhazardouswasteunifiedinthe"NationalSolidWasteandChemicalManagementInformationSystem”,andhazardouswastedisposalagreementswereconcludedwithHunanHanyangEnvironmentalProtectionTechnologyCo.,Ltd,HunanJingyiXiangtaiEnvironmentalProtectionHi-TechCo.,Ltd,Yuanda(Hunan)RenewableFuelCo.,Ltd.,andHunanYongxinyuanEnvironmentalProtectionCo.,Ltd. |
3.EIAofconstructionprojectsandadministrativepermitsgrantedtootherenvironmentalprotection
√Applicable□Non-applicable
| S/N | Nameofcompany/Subsidiary | Administrativelicensesforenvironmentalprotection |
| 1 | NingboTuopuGroupCo.,Ltd. | 1.EmissionPermitNo.:FactoryNo.36,GuanhaiRoad:91330200761450380T001V,FactoryNo.1,LongtanshanRoad:91330200761450380T004Y,FactoryNo.59,GuanhaiRoad:91330200761450380T007Y,FactoryNo.666,WestHengshanRoad:91330200761450380T002U,FactoryNo.99,ChunxiaoAvenue:91330200761450380T006Z,FactoryNo.268,YukwangshanRoad:91330200761450380T005W,FactoryNo.339,WestBatouRoad: |
2024
| 91330200761450380T003W.2.DrainagePermitNo.:FactoryNo.36,GuanhaiRoad:ZhelunChunDaiZiNo.5004,FactoryNo.59,GuanhaiRoad:ZhelunXiaoxiaoDaiZiNo.00035,FactoryNo.99,ChunxiaoAvenue:ZhelunXiaoxiaoDaiZiNo.00023,FactoryNo.268,YuwangshanRoad:ZhelunDaiZiNo.5003.3.RadiationSafetyLicense,CertificateNo.ZhejiangEnvironmentalIrradiationCertificate[B3021]. | ||
| 2 | NingboTuopuChassisSystemsCo.,Ltd. | 1．Fixedpollutionsourcesdischargeregistrationreceipt,No.91330212MA2H69JB4K001Y.2.Wewagedischargelicense,No.:91330212MA2H69JB4K. |
| 3 | NingboTuopuAutomobilePartsCo.,Ltd. | 1．Urbansewageaccesstothedrainagenetworklicense,ZhejiNo.2416.2.SewageDischargeLicense,CertificateNo.91330201MA2833A9XR001Q.3．Radiation:SafetyLicense,CertificateNo.Spoke[B2971]. |
| 4 | NingboElectricVehicleThermalManagementSystem(Ningbo)Co.,Ltd. | 1．Urbansewageconnectedtothedrainagenetworklicense:ZhejiNo.2360,ZhejiNo.2361,ZhejiNo.2362.2.DischargePermit,CertificateNo.91330201MA2J3L9257002W,91330201MA2J3L9257001X,91330201MA2J3L9257003X.3.RadiationSafetyLicense,CertificateNo.ZHEHUANRADIATIONCERTIFICATE[B3074]. |
| 5 | TuopuSkateboardChassis(Ningbo)Co.,Ltd. | 1.Fixedpollutionsourcesdischargeregistrationreceipt,No.91330201MA7FLHGH5K002Y.2.RadiationSafetyLicense,CertificateNo.ZHEHUANRADIATIONCERTIFICATE(B1388). |
| 6 | SuiningTuopuAutomobileChassisSystemsCo.,Ltd. | 1.Sewagelicense,certificateNo.91510904071417225P001U. |
| 7 | ZhejiangTowinAutomobilePartsCo.,Ltd. | 1.Urbansewageconnectedtothedrainagenetworklicense:ZhewusewagedischargewordNo.2022085.2.Sewagelicense,certificateNo.91330723MA29PBM72F001U. |
| 8 | HunanTowinAutomobilePartsCo.,Ltd. | 1.Urbansewageintothedrainagenetworklicense,certificateNo.41111wordsNo.0319.2.DischargePermit,CertificateNo.91430300MA4PDKMY0M001Q.3.RadiationSafetyLicense,CertificateNo.:HunanEnvironmentalRadiationCertificate[C0168] |
4.Emergencyresponseforenvironmentalcontingencies
√Applicable□Non-applicable
| S/N | Nameofcompany/Subsidiary | Emergencyplandeclarationfilingnumber |
| 1 | NingboTuopuGroupCo.,Ltd. | 33026-2025-205-L |
| 2 | NingboTuopuChassisSystemsCo.,Ltd. | 330212-2024-081-L |
| 3 | NingboTuopuAutomobilePartsCo.,Ltd. | 330282（H）-2022-043L |
| 4 | NingboElectricVehicleThermalManagementSystem(Ningbo)Co.,Ltd. | 330282(H)-2024-023LforPhase3，330282(H)-2024-030LforPhase4，330282(H)-2024-032LforPhase5 |
| 5 | TuopuSkateboardChassis(Ningbo)Co.,Ltd. | TPHBDP-2024-04 |
| 6 | SuiningTuopuAutomobileChassisSystemsCo.,Ltd. | 510904-2024-14-L |
2024
| 7 | ZhejiangTowinAutomobilePartsCo.,Ltd. | 330206-2015-007-L |
| 8 | HunanTowinAutomobilePartsCo.,Ltd. | 430304-2024-036-L |
5.In-houseenvironmentalmonitoringplan
√Applicable□Non-applicableTheCompanytestswastewater,wastegas,noiseatplantboundaries,andradiationlevelsinallplantsatregularintervalseveryyear,whicharefoundtobeacceptableunderthenationalstandards;theplanfordisposalofhazardouswastesissubmittedearliereachyear.
6.Administrativepenaltiesduetoenvironmentalconcernsduringthereportingperiod
□Applicable√Non-applicable
7.Otherenvironmentalinformationthatshouldbedisclosed
□Applicable√Non-applicable
(2)Notestotheenvironmentalprotectionofthecompaniesotherthankeyemissionentities
√Applicable□Non-applicable
1.Administrativepenaltiesforenvironmentalproblems
2.Disclosureofotherenvironmentalinformationwithreferencetokeyemissionunits
□Applicable√Non-applicable
3.Reasonsfornotdisclosingotherenvironmentalinformation
□Applicable√Non-applicable
(3)Relevantinformationthatbenefitsecosystemprotection,pollutioncontrol,andfulfillmentenvironmentalresponsibilities
√Applicable□Non-applicable
Thecompany'smanagementplacessignificantemphasisondevelopinganESGsystemandisdedicatedtoestablishingasustainabledevelopmentmanagementframeworkforESG.ToupholdcorporateESGresponsibilities,weactivelyadvocateforgreenandlow-carbonproductionpractices,therebyfulfillingoursocialobligationsrelatedtoenergyconservation,lowcarbonemissions,andenvironmentalprotection.
(4)Measuresandeffectstakentoreducecarbonemissionsduringthereportingperiod
| Whethertotakecarbonreductionmeasures | Yes |
| Reductionemissionsofcarbondioxideequivalent(unit:intons) | 144,731 |
| Typesofcarbonreductionmeasures(e.g.:usingcleanenergytogenerateelectricity,usingcarbonreductiontechniqueintheproductionprocess,developingandproducingnewproductsthatcontributetoreducingcarbonemissions) | Usephotovoltaicpowerforgeneration |
Particularnotes
√Applicable□Non-applicable
TheCompanyhasconsistentlyenhanceditsinstalledphotovoltaiccapacity,withasteadyincreaseinannualelectricitygeneration.In2024,theCompanyplanstoincorporateanadditional14.45MWofphotovoltaiccapacity,resultinginatotalinstalledcapacityof142MWandanannualelectricitygenerationcapacityof145.16millionkWh,alongsideareductionofCO2emissionsby144,731tonseachyear.Furthermore,theCompanywillcontinuetoexpanditseffortsinimplementingdistributed
2024
photovoltaicpowerplantsandenergystoragesystems,whileactivelypursuingvariousinitiativestofurtherdecreasecarbonemissions,ultimatelyworkingtowardstheachievementofazero-carbonfactory.Ⅱ.Fulfillmentofsocialresponsibility
(1)Whethertodisclosesocialresponsibilityreport,sustainabledevelopmentreportorESGreportonebyone
□Applicable√Non-applicable
(2)Particularsonfulfillmentofsocialresponsibility
√Applicable□Non-applicable
| Externaldonations,publicwelfareprojects | Quantity/Content | Description |
| Totalamountdonated(yuan) | 30 | |
| Ofwhich:funds(yuan) | 30 | DonationofRMB300,000totheenvironmentalprotectioninitiative |
| Materialsandsuppliesequivalentto(inRMB10,000) | ||
| Numberofpeoplebenefited(persons) |
ParticularNotes
√Applicable□Non-applicableInMay2024,theCompanydonatedRMB300,000toNingboBeilun“Liangshan”EnvironmentalProtectionFoundation;Ⅲ.Particularsofconsolidatingandexpandingthedeliverablesofpovertyalleviation,ruralrevitalizationandothertasks
□Applicable√Non-applicableParticularNotes
□Applicable√Non-applicable
2024
Section6SignificantEvents
I.Performanceofcommitments
(1)Commitmentsmadebyactualcontrollers,shareholders,relatedparties,acquirersoftheCompany,andtheCompanyandotherrelatedpartiesmakingcommitmentsduringthereportingperiodorcontinuingtothereportingperiod
√Applicable□Non-applicable
| Backgroundofcommitment | Typeofcommitment | Committedby | Contentofcommitment | Dateanddeadlineofcommitment | Whetherthereisadeadlineforperformance | Whetherperformedstrictlyandtimely | Ifsuchcommitmentscannotbecompletedtimely,statethespecificreason | Ifsuchcommitmentscannotbecompletedtimely,statethenextplan | Backgroundofcommitment |
| CommitmentrelatedtoIPO | Horizontalcompetition | MECCAINTERNATIONALHOLDING（HK）LIMITED | 1.TheCompanydoesnothave,andwillnotbedirectlyorindirectlyengagedin,orbyanyformincludingbutnotlimitedtoholding,participatingofshares,jointventure,associatepartnership,lease,agentoperation,trustorothersimilarformengageinanyoperationoractivitythatmayhaveconstitutedorsubstantiallyconstituteacurrentorpotentialcompetitionagainsttheexistingandfutureoperationsofTuopuGroupanditsholdingsubsidiaries.2.Forcompaniesandeconomicentitiesdirectlyor | March2012 | No | Continuous | Yes | NA | NA |
2024
2024
| shallhavetherightoffirstrefusalastothetrustedmanagement(contractingoperation,leasingoperation)oracquisitioninrespectofsuchoperationsthathaveconstitutedormaypotentiallyconstitutecompetition.4.Theabovecommitmentsareunconditional,ifaviolationoftheabovecommitmentsinflictsanyfinanciallosstoTuopuGroup,theCompanywillindemnifyothershareholdersorinterestedpartiesofTuopuGroupagainstsuchlossesascomprehensive,promptandsufficient.5.ThisletterofcommitmentshallremaininforceandeffectwhenevertheCompanyandanycompanycontrolledbytheCompanyarerelatedtoTuopuGroup. | ||||||||
| Resolverelatedpartytransactions | MECCAINTERNATIONALHOLDING（HK）LIMITED | 1.TheCompanyanditscontrolledentitieswilldotheutmosttoavoidrelatedtransactionswiththeissueranditssubsidiaries.2.Ifrelatedpartytransactionsareunavoidable,bothpartiesto | March2012 | No | Continuous | Yes | NA | NA |
2024
2024
2024
| 6.ThisletterofcommitmentshallremaininforceandeffectwhenevertheCompanyanditscontrolledentitiesarerelatedtoTuopuGroup. | ||||||||
| Other | MECCAINTERNATIONALHOLDING（HK）LIMITED | Iftheissuer'sprospectuscontainsanyfalsifiedrecords,misleadingstatementsormaterialomissions,whichconstitutesasignificantandsubstantialimpactondeterminingwhethertheissuermeetstheissuanceconditionsasprescribedbylaw,theCompanywill,within30daysaftertheCSRCrulesillegalfacts,repurchasetherestrictedsharesthatareoriginallytransferred,andurgetheissuertorepurchaseallnewsharesinthispublicoffering;theCompanywillfixtherepurchasepriceatthehigheroftheissuer'sstockissuepriceandtheaveragetransactionpriceoftheissuer'sstockwithin30tradingdaysbeforetheCSRCrulesillegalfacts,andrepurchasealltheoriginalrestrictedsharesthathavebeensold.Iftheissuer'ssharesareinvolvedinthe | March2015 | No | Continuous | Yes | NA | NA |
2024
2024
| compensationfundstoactivelyindemnifytheinvestorsharmlessfromandagainstthedirecteconomiclossesenduredtherein.Thestandard,scopeofsubjectsandsumofsuchindemnityshallbesubjecttothefinalindemnificationplanprevailingintheoccurrenceoftheabovecircumstances. | ||||||||
| Others | MECCAINTERNATIONALHOLDING（HK）LIMITED | FromAugust31,2012,nothingwillprocureNingboTuopuGroupCo.,Ltd.touseanyraisedfundsfromthisissuanceandlistingforrealestatebusinessorrealestateenterprises. | August2012 | No | Continuous | Yes | NA | NA |
| Others | NingboTuopuGroupCo.,Ltd. | Iftheissuer'sprospectuscontainsanyfalsifiedrecords,misleadingstatementsormaterialomissions,whichconstitutesasignificantandsubstantialimpactondeterminingwhethertheissuermeetstheissuanceconditionsasprescribedbylaw,theCompanywill,within30daysaftertheCSRCrulesillegalfacts,repurchasetherestrictedsharesthatareoriginallytransferred,andurgetheissuertorepurchaseallnewsharesinthispublic | March2015 | No | Continuous | Yes | NA | NA |
2024
2024
| advance,maintainingtheinterestsofinvestors,especiallysmallandmediuminvestors,andinaccordancewiththemeasurableeconomiclossesdirectlyenduredbyinvestors,electtoreconcilewithinvestors,mediatewithinvestorsthroughthirdparties,orotherwiseestablishinvestorcompensationfundstoactivelyindemnifytheinvestorsharmlessfromandagainstthedirecteconomiclossesenduredtherein.Thestandard,scopeofsubjectsandsumofsuchindemnityshallbesubjecttothefinalindemnificationplanprevailingintheoccurrenceoftheabovecircumstances. | ||||||||
| Others | NingboTuopuGroupCo.,Ltd. | Ifthecompany'sstockpricefallsbelowitsauditednetassetspershareinthepreviousyearwithinthreeyearsafteritsIPOandlisting(hereinafterreferredtoas"netassetvaluepershare",totalnumberoftheordinaryshareholders'equityattributabletotheparentintheconsolidatedfinancialstatements/number | March2015 | No | Continuous | Yes | NA | NA |
2024
2024
| Others | NingboTuopuGroupCo.,Ltd. | FromAugust31,2012,nothingwillprocureNingboTuopuGroupCo.,Ltd.touseanyraisedfundsfromthisissuanceandlistingforrealestatebusinessorrealestateenterprises. | August2012 | No | Continuous | Yes | NA | NA |
| Resolverelatedpartytransactions | WuJianshu | 1.Iandcontrolledentitieswilldotheutmosttoavoidrelatedtransactionswiththeissueranditssubsidiaries.2.Ifrelatedpartytransactionsareunavoidable,bothpartiestothetransactionswillstrictlyfollowthenormalbusinesscodeofconduct.Thepricingpolicyapplicabletorelatedpartytransactionsmustfollowtheprinciplesoffairness,impartialityandopennessinthemarket,andthetransactionpriceisfixedatthepriceatwhichthetransactionareconductedwithanindependentthirdpartyinthemarket.Formajorrelatedpartytransactionswithoutmarketpriceavailableforcomparisonorpricingisrestricted,thetransactionpriceshallbefixedatthecostofthecommoditiesorlaborservicestradedin | March2012 | No | Continuous | Yes | NA | NA |
2024
2024
| 5.Theabovecommitmentsareunconditional,ifaviolationoftheabovecommitmentsinflictsanyfinanciallosstoTuopuGroup,IwillindemnifyothershareholdersorinterestedpartiesofTuopuGroupagainstsuchlossesascomprehensive,promptandsufficient.6.ThisletterofcommitmentshallremaininforceandeffectwheneverIandanycompanycontrolledbyIarerelatedtoTuopuGroup. | ||||||||
| Resolvehorizontalcompetition | WuJianshu | 1.Idoesnothave,andwillnotbedirectlyorindirectlyengagedin,orbyanyformincludingbutnotlimitedtoholding,participatingofshares,jointventure,associatepartnership,lease,agentoperation,trustorothersimilarformengageinanyoperationoractivitythatmayhaveconstitutedorsubstantiallyconstituteacurrentorpotentialcompetitionagainsttheexistingandfutureoperationsofTuopuGroupanditsholdingsubsidiaries.2.Forcompaniesandeconomicentitiesdirectlyor | March2012 | No | Continuous | Yes | NA | NA |
2024
2024
| management(contractingoperation,leasingoperation)oracquisitioninrespectofsuchoperationsthathaveconstitutedormaypotentiallyconstitutecompetition.4.Theabovecommitmentsareunconditional,ifaviolationoftheabovecommitmentsinflictsanyfinanciallosstoTuopuGroup,IwillindemnifyothershareholdersorinterestedpartiesofTuopuGroupagainstsuchlossesascomprehensive,promptandsufficient.5.ThisletterofcommitmentshallremaininforceandeffectwheneverIandanycompanycontrolledbyIarerelatedtoTuopuGroup. | ||||||||
| Others | WuJianshu | TheCompanywillindemnifytheinvestorsenduringfinanciallossesinsecuritiestransactionsduetofalserecords,misleadingstatementsormaterialomissionsintheissuer'sprospectusforthispublicofferingofstocks.Within30daysaftersuchillegalfactsareruledbyCSRC,thestockexchangeorthe | March2015 | No | Continuous | Yes | NA | NA |
2024
(2)ThereisanexpectedprofitastotheassetsorprojectsoftheCompany,andthereportingperiodstillfallsintheprofitexpectationperiod,theCompanystateswhethertheassetsorprojectsattaintheoriginalprofitexpectationandgivesthereason
□Attained□Notattained√Non-applicable
2024
(3)Thestatusofperformanceofcommitmentsanditsimpactonthegoodwillimpairmenttest
□Applicable√Non-applicableII.Whetherthereisanynon-operatingcapitaloccupationbythecontrollingshareholderanditsaffiliates
□Applicable√Non-applicableIII.Violationofguarantee
□Applicable√Non-applicable
2024
IV.NotesoftheBoardofDirectorstothe"ModifiedAuditOpinionReport"ReleasedbytheAccountingFirm
□Applicable√Non-applicableV.NotestoAnalysisoftheReasonsandImpactofChangesinAccountingPolicies,AccountingEstimatesorCorrectionsofMajorAccountingErrors
(1)NotestoanalysisoftheReasonsandImpactofChangesinAccountingPoliciesorAccountingEstimates
√Applicable□Non-applicable
(1)ImplementationofASBEInterpretationNo.17TheMinistryofFinanceissuedASBEInterpretationNo.17onOctober25,2023(Caijing[2023]No.21,hereinafterreferredtoas“InterpretationNo.17”).
①ClassificationofCurrentLiabilitiesandNon-currentLiabilitiesInterpretationNo.17setsout:
-Ifanenterprisedoesnothaveasubstantiverightatthebalancesheetdatetodefersettlementofaliabilityformorethanoneyearafterthebalancesheetdate,theliabilityshallbeclassifiedasacurrentliability.-Forliabilitiesarisingfromanenterprise'sloanarrangement,theenterprise'srighttodefersettlementoftheliabilityformorethanoneyearafterthebalancesheetdatemaydependonwhethertheenterprisehascompliedwiththeconditionsspecifiedintheloanarrangement(hereinafterreferredtoasthecontractualconditions),andtheenterpriseshallonlyconsiderthecontractualconditionsthatshouldhavebeencompliedwithatorpriortothebalancesheetdatewhendeterminingwhetheritssubstantiverighttodefersettlementoftheliabilityexists.Theenterpriseshouldonlyconsiderthecovenantconditionstobefollowedonorbeforethebalancesheetdateandshouldnotconsiderthecovenantconditionstobefollowedbytheenterpriseafterthebalancesheetdate.
-Thedischargeofaliabilitywhenclassifyingtheliquidityoftheliabilityiswhentheenterprisedischargestheliabilitybytransferringcash,othereconomicresources(suchasgoodsorservices)ortheenterprise'sownequityinstrumentstothecounterparty.Ifthetermsoftheliabilityresultintheenterprisesettlingtheliabilitybydeliveringitsownequityinstrumentsifthecounterpartysochooses,andiftheenterpriseclassifiestheaboveoptionasanequityinstrumentandrecognizesitseparatelyasanequitycomponentofacompoundfinancialinstrumentinaccordancewithASBENo.37-PresentationofFinancialInstruments,thetermsoftheliabilitydoesnotaffecttheliquidityclassificationoftheliability.
TheinterpretedprovisioniseffectivefromJanuary1,2024,andcompaniesshouldadjustthecomparableperiodinformationinaccordancewiththeinterpretedprovisionwhentheyimplementitforthefirsttime.TheCompany'simplementationofthisprovisiondidnothaveasignificantimpactontheCompany'sfinancialpositionandresultsofoperations.
②DisclosureonVendorFinancingArrangements
InterpretationNo.17requiresthatwhenmakingnotedisclosures,anenterpriseshouldsummarizeanddiscloseinformationrelatedtovendorfinancingarrangementsinamannerthatwillassistusersofthestatementsinassessingtheimpactofthesearrangementsontheenterprise'sliabilities,cashflows,andtheenterprise'sexposuretoliquidityrisk.Theimpactofvendorfinancingarrangementsshouldalsobeconsideredwhenidentifyinganddisclosinginformationaboutliquidityrisk.Thisdisclosurerequirementappliesonlytovendorfinancingarrangements.Asupplierfinancingarrangementisatransactionthathasthefollowingcharacteristics:oneormorefinanceprovidersprovidefundstomakepaymentstoanenterpriseonbehalfofitssuppliers,withanagreementthattheenterprisewillrepaythefinanceprovidersonorafterthedatethepaymentsarereceivedbyitssuppliers,inaccordancewiththetermsandconditionsofthearrangement.Thesupplierfinancearrangementextendsthepaymentperiodforthebusinessoradvancesthecollectionperiodforthebusiness'ssupplierscomparedtotheoriginalpaymentduedate.TheinterpretedprovisioniseffectiveJanuary1,2024,andcompaniesarenotrequiredtodiscloseinformationrelatedtocomparableperiodsandcertainopeninginformationwhen
2024
implementingtheinterpretedprovisionforthefirsttime.TheimplementationofthisprovisiondidnothaveasignificantimpactontheCompany'sfinancialpositionandresultsofoperations.
③AccountingforsaleandleasebacktransactionsInterpretationNo.17stipulatesthatwhenalesseesubsequentlymeasuresaleaseliabilityarisingfromasaleandleaseback,themannerinwhichitdeterminestheleasepaymentsorchangestheamountofsubsequentleasepaymentsshallnotresultintherecognitionofagainorlossrelatedtotherighttousetheleasedareaacquiredbythelessee.Whenanenterprisefirstimplementsthisprovision,itshouldretrospectivelyadjustforsaleandleasebacktransactionsthatareconductedafterthedateofinitialimplementationofASUNo.21,Leases.
TheprovisionsofthisinterpretationareeffectiveJanuary1,2024,andallowcompaniestoearlyimplementfromtheyearofissuance.TheCompanyhasimplementedthisprovisionsinceJanuary1,2024,andtheimplementationofthisprovisiondidnothaveasignificantimpactontheCompany'sfinancialpositionandresultsofoperations.
(2)ImplementationoftheInterimProvisionsonAccountingTreatmentRelatedtoEnterpriseDataResources
TheMinistryofFinance(“MOF”)issuedtheInterimProvisionsonAccountingTreatmentRelatedtoEnterpriseDataResources(“InterimProvisionsonAccountingTreatmentRelatedtoEnterpriseDataResources”)(Caihui[2023]No.11)onAugust1,2023,whichappliestodataresourcesrecognizedasassetssuchasintangibleassetsorinventoriesincompliancewiththerelevantprovisionsoftheAccountingStandardsforBusinessEnterprises(“ASBEs”),aswellasdataresourceslegallyownedorcontrolledbyanenterprisethatareexpectedtobringeconomicbenefitstotheenterprise,butdonotsatisfytheconditionsforrecognitionofanassetwithoutbeingrecognizedTherelevantaccountingtreatmentandspecificrequirementsfordisclosureofdataresources.
TheprovisioniseffectivefromJanuary1,2024,andenterprisesshouldadoptthefutureapplicationmethod,andtheexpensesrelatedtodataresourcesthathavebeenexpensedtoprofitorlossbeforetheimplementationoftheprovisionwillnotbeadjusted.TheimplementationofthisprovisiondidnothaveasignificantimpactontheCompany'sfinancialpositionandresultsofoperations.
(3)ImplementationofASBEInterpretationNo.18,“AccountingforGuaranteesofQualityAssurancethatarenotIndividualPerformanceObligations
TheMinistryofFinance(“MOF”)issuedASBEInterpretationNo.18(“ASBEInterpretationNo.18”)(Caijing[2024]No.24,hereinafterreferredtoas“ASBEInterpretationNo.18”)onDecember6,2024,whichbecameeffectiveonthedateofitsissuance,andwhichallowsanenterprisetoimplementitinadvancefromtheyearofitsissuance.
InterpretationNo.18stipulatesthatwhenaccountingforprojectedliabilitiesarisingfromguaranteesthatarenotsingleperformanceobligations,theamountofprojectedliabilitiesdeterminedinaccordancewiththerelevantprovisionsofASBENo.13-Contingenciesshallbedebitedto“Costofmainbusiness”,“Otherbusiness”,“Otherbusiness”,“Otherbusiness”,“Otherbusiness”and“Otherbusiness”.Theamountoftheestimatedliabilityshallbedebitedtotheaccountsof“Costofmainbusiness”and“Otherbusinesscosts”andcreditedtotheaccountof“Estimatedliabilities”,andshallberecordedintheaccountsof“Operatingcosts”intheincomestatementand“Othercurrentliabilities”intheassetandliabilitystatementaccordingly.Theyarecreditedtothe“projectedliabilities”accountandshownin“operatingcosts”intheincomestatementand“othercurrentliabilities”,“non-currentliabilitiesduewithinoneyear”and“projectedliabilities”inthebalancesheetaccordingly.
Whenimplementingthisinterpretationforthefirsttime,companiesshouldmakeretrospectiveadjustmentsinaccordancewiththechangeinaccountingpolicyiftheprovisionforwarranty-typequalityassurancewasoriginallyincludedin“Sellingexpenses”,etc.TheCompanyhasimplementedthisinterpretationforthefirsttimesincefiscal2024.Themaineffectsoftheimplementationofthisregulationfromfiscalyear2024onwardsaresummarizedasfollows:
| Impactedstatementitems | Consolidated | Parentcompany | ||
| 2024年度 | 2023年度 | 2024年度 | 2023年度 | |
2024
| Impactedstatementitems | Consolidated | Parentcompany | ||
| 2024年度 | 2023年度 | 2024年度 | 2023年度 | |
| Operatingcost | 49,233,094.10 | 26,241,811.67 | 9,119,106.87 | 7,033,319.17 |
| Costofsales | -49,233,094.10 | -26,241,811.67 | -9,119,106.87 | -7,033,319.17 |
(2)NotestoAnalysisoftheReasonsandImpactoftheCorrectionofMajorAccountingErrors
□Applicable√Non-applicable
(3)CommunicationwiththeFormerAccountingFirm
□Applicable√Non-applicable
(4)ApprovalprocedureandotherNotes
□Applicable√Non-applicableVI.Situationsatriskofdelisting(I)Reasonsleadingtodelistingriskwarning
□Applicable√NotapplicableVII.AppointmentandDismissalofAccountingFirm
Unit：in10,000YuanCurrency：RMB
| CurrentAccountingFirm | |
| Nameofdomesticaccountingfirm | BDOChinaShuLunPanCertifiedPublicAccountantsLLP(SpecialGeneralPartnership) |
| Remunerationpaidtodomesticaccountingfirm | 290 |
| Auditperiodofdomesticaccountingfirm | 14years |
| Nameofthecertifiedpublicaccountantofthedomesticaccountingfirm | YuWeiying,TangWei |
| LengthofconsecutiveauditservicesofCPAsofdomesticaccountingfirms | YuWeiyingwith4yearsofservice,TangWeiwith5yearsofservice |
Name
| Name | Remuneration | |
| Accountingfirmresponsibleforinternalcontrolaudit | BDOChinaShuLunPanCertifiedPublicAccountantsLLP(SpecialGeneralPartnership) | 40 |
| Sponsor | ChinaMerchantsSecuritiesCo.Ltd | NA |
Notestoappointmentanddismissalofaccountingfirm
√Applicable□Non-applicableThe2023generalmeetingconvenedbytheCompanyonJune24,2024consideredandpassedthe“ResolutiononRenewaloftheAppointmentofAuditInstitutionfor2024”,anddecidedtorenewtheappointmentofBDOChinaShuLunPanCertifiedPublicAccountantsLLP(SpecialGeneralPartnership)astheauditinstitutionof2024,whowillprovideauditandinternalcontrolauditservicesofthefinancialreportof2024ortheCompany.Notestochangeofaccountingfirmduringthereportingperiod
□Applicable√Non-applicableDescriptionoftheauditfeereductionof20%orgreater(inclusiveof20%)incomparisontotheprioryear
□Applicable√Non-applicable
2024
VII.Circumstanceofdelistingrisk
(1)Reasonsleadingtothewarningfordelistingrisk
□Applicable√Non-applicable
(2)ProposedresponsesbytheCompany
□Applicable√Non-applicable
(3)Exposuretotheriskofdelistingandthereasonbehindit
□Applicable√Non-applicableVIII.Eventsconcerningbankruptcyandreorganization
□Applicable√Non-applicableIX.SignificantLawsuitsandArbitrations
□TheCompanyisinvolvedinanysignificantlawsuitsandarbitrationsinthecurrentyear√TheCompanyisnotinvolvedinanysignificantlawsuitsandarbitrationsinthecurrentyear
X.Listedcompaniesandtheirdirectors,supervisors,officers,controllingshareholders,andactualcontrollerssuspectedofviolationsoflawsandregulationsandthesituationofpunishmentsandrectifications
□Applicable√Non-applicableXI.NotestotheCreditStandingoftheCompanyandItsControllingShareholdersandActualControllersduringtheReportingPeriod
□Applicable√Non-applicableXII.SignificantRelated-partyTransactions
(1)Related-partytransactionsrelatedtodailyoperations
1.Eventsthathavebeendisclosedintheprovisionalannouncementandthereisnoprogressorchangeinsubsequentimplementation
□Applicable√Non-applicable
2.Eventsthathavebeendisclosedintheprovisionalannouncement,butthereisnoprogressorchangeinsubsequentimplementation
□Applicable√Non-applicable
3.Eventsthatarenotdisclosedintheprovisionalannouncement
□Applicable√Non-applicable
(2)Related-partytransactionsintheacquisitionorsaleofassetsorequity
1.Eventsthathavebeendisclosedintheprovisionalannouncementandthereisnoprogressorchangesinsubsequentimplementation
□Applicable√Non-applicable
2.Eventsthathavebeendisclosedintheprovisionalannouncement,butthereisaprogressorchangeinsubsequentimplementation
□Applicable√Non-applicable
2024
3.Eventsthatarenotdisclosedintheprovisionalannouncement
□Applicable√Non-applicable
4.Wherethereisaperformanceagreementinvolved,theperformanceachievedduringthereportingperiodshallbedisclosed
□Applicable√Non-applicable
(3)Significantrelated-partytransactionsofjointexternalinvestment
1.Eventsthathavebeendisclosedintheprovisionalannouncementandthereisnoprogressorchangesinsubsequentimplementation
□Applicable√Non-applicable
2.Eventsthathavebeendisclosedintheprovisionalannouncement,butthereareprogressorchangesinsubsequentimplementation
□Applicable√Non-applicable
3.Eventsthatarenotdisclosedintheprovisionalannouncement
□Applicable√Non-applicable
(4)Relatedcreditsandliabilities
1.Eventsthathavebeendisclosedintheprovisionalannouncement,butthereisnoprogressorchangeinsubsequentimplementation
□Applicable√Non-applicable
2.Eventsthathavebeendisclosedintheprovisionalannouncement,butthereisaprogressorchangeinsubsequentimplementation
□Applicable√Non-applicable
3.Eventsthathavenotbeendisclosedintheprovisionalannouncement
□Applicable√Non-applicable
(5)FinancialbusinessbetweentheCompanyandtheassociatedfinancialcompany,theCompany'sholdingfinancialcompanyandtherelatedparty
□Applicable√Non-applicable
(6)Other
□Applicable√Non-applicableXIII.Majorcontractsandcontractperformance
1.Mattersrelatingtotrusteeship,contractingandleasing
□Applicable√Non-applicable
2.Contracting
□Applicable√Non-applicable
3.Leasing
□Applicable√Non-applicable
2024
(2)Guarantee
√Applicable□Notapplicable
Unit：YuanCurrency：RMB
| ExternalguaranteesbytheCompany(otherthanitsguaranteestosubsidiaries) | ||||||||||||||
| Guarantor | Relationbetweentheguarantorandthelistedcompany | Guaranteedparty | Guaranteedamount | Dateofguaranteeoccurred(dateofagreementexecution) | From | Until | Typeofguarantee | Maindebts | Collateral(ifany) | Whethertheguaranteehasbeenfulfilled | Whethertheguaranteeisoverdue | Guaranteeoverdueamount | Counter-guaranteesituation | Whetheritisaguaranteeforrelatedparties |
Totalamountofguaranteesduringthereportingperiod(otherthanguaranteestosubsidiaries)
| Totalamountofguaranteesduringthereportingperiod(otherthanguaranteestosubsidiaries) | 0 |
| Totalbalanceofguaranteesattheendofthereportingperiod(A)(otherthanguaranteestosubsidiaries) | 0 |
| GuaranteesbytheCompanytoitssubsidiaries | |
| Totalamountofguaranteestosubsidiariesduringthereportingperiod | 39,679,480.77 |
| Totalbalanceofguaranteestosubsidiariesattheendofthereportingperiod(B) | 466,573,512.73 |
| Totalamountofcompanyguarantees(includingitsguaranteestosubsidiaries) | |
| Totalguarantees(A+B) | 466,573,512.73 |
| TotalguaranteesasapercentageoftheCompany'snetassets(%) | 2.38 |
| Including: | |
| Amountofguaranteesprovidedforshareholders,actualcontrollersandtheirrelatedparties(C) | 0 |
| Amountofdebtguaranteeprovideddirectlyorindirectlyfortheguaranteedobjectwhoseasset-liabilityratioexceeds70%(D) | 0 |
| Amountofthetotalguaranteesexceeding50%ofthenetassets(E) | 0 |
2024
| Totaloftheabovethreeguarantees(C+D+E) | 0 |
| Notetounexpiredguaranteesthatmaybearjointliabilityforrepayment | NA |
| Statementofguarantees | (1)TuopuPolandsp.z.o.o,("TuopuPoland")isawholly-ownedsubsidiaryestablishedbyTuopuGroupinPolandinMarch2021.Itleases7RPROJEKT35Sp.z.o.o("7RProjectCompany").ThecustomizedplantwillacceptandproduceEuropeanordersandhasassignedaleaseagreementwith7RProjectCompanyonMarch15,2021.Givenbusinesspracticesandactualneeds,theCompanyprovidedperformanceguaranteeforthesaidplantleaseagreementsignedbyTuopuPoland.Thetotalliabilityoftheletterofguaranteeisupto7millioneuros(calculatedattheexchangerateonthedaybeforetheannouncementonMarch19,2021,equivalenttoRMB54.174million),andtheeffectivetermcoversthevalidityperiodofthesaidleaseagreement(84monthscountedfromMarch15,2021)andfivemonthsafteritsexpirationortermination,butnolaterthanAugust1,2029.Theaboveperformanceguaranteeshavebeenreviewedandapprovedatthe5thmeetingofthefourthBoardofDirectors.Moredetailsareavailablein“AnnouncementofTuopuGrouponProvidingPerformanceGuaranteesfortheLeaseofIndustrialPlantsforOverseasWholly-ownedSubsidiaries”disclosedbythecompanyontheportalsiteofShanghaiStockExchangeonMarch19,2021.(AnnouncementNo.2021-018).Theguaranteeiscontinuingin2022.Theaboveperformanceguaranteeshavebeenreviewedandapprovedatthe33thmeetingoftheFourthBoardofDirectors.Moredetailsareavailablein“AnnouncementofTuopuGrouponProvidingPerformanceGuaranteesforBankLoanstoWholly-ownedSub-subsidiary”disclosedbytheCompanyontheportalsiteofShanghaiStockExchangeonSeptember29,2023.(AnnouncementNo.2023-067).Theguaranteeremainedon-goingduringthereportingperiod.(2)TUOPUGROUPMEXICO,S.deR.L.deC.V(hereinafterreferredtoas“TuopuMexico”),awholly-ownedsubsidiaryofTuopuGroup,rentedlocalindustrialbuildingsasproductionworkshopsinordertoputintoproductionassoonaspossible.Accordingtothelessor'srequest,TuopuGroupprovidesrentalguaranteeforTuopuMexico.ThetotalliabilityoftheguaranteeshallnotexceedUSD14million(approximatelyRMB102.76million),andthevalidityperiodshallcovertheentirevalidityperiodoftheleaseagreement(i.e.fromNovember1,2023to |
2024
2024
(3)Entrustingotherstomanagecashassets
1.Entrustedfinancialmanagement
(1)Generalconditionsofentrustedfinancialmanagement
√Applicable□Non-applicable
Unit：in10,000YuanCurrency：RMB
credit.ThetotalamountofthetwostandbylettersofcreditisUSD5,582,293.2(approximatelyRMB39,679,480.77).ThevalidityperiodofthecontractisfromFebruary6,2024toJuly15,2029.TheaforesaidperformanceguaranteehasbeenconsideredandapprovedattheSeventhMeetingoftheFifthSessionoftheBoardofDirectorsoftheCompany.Fordetails,pleaserefertothe''AnnouncementofTuopuGroupontheProvisionofGuaranteestoSubsidiaries''(AnnouncementNo.2024-029)disclosedonthewebsiteofShanghaiStockExchangeonFebruary27,2024bytheCompany.Theguaranteeremainedon-goingduringthereportingperiod.Thefourguaranteesmentionedabove,totalingRMB466,573,512.73inaggregate.
Type
| Type | Sourceoffunds | Amountincurred | Unmaturedamount | Unrecoveredamountafterthematurity |
| Bankfinancialproducts | Raisedfunds | 4,495,000,000.00 | 1,050,000,000.00 | 0 |
OtherConditions
□Applicable√Non-applicable
(2)Individualentrustedfinancialmanagement
√Applicable□Non-applicable
2024
Unit:10000YuanCurrency:RMB
| Trustee | Typeofentrustedfinancialmanagement | Amountofentrustedfinancialmanagement | Startdateofentrustedfinancialmanagement | Enddateofentrustedfinancialmanagement | Sourceoffunds | Useoffunds | Methodoffixingreturns | Annualizedreturns | Expectedreturns(ifany) | Actualreturnsorlosses | Actualrecovery | Ifsubjecttostatutoryprocedure | Ifthereisanyentrustedfinancialmanagementplan | Extentofimpairmentprovision(ifany) | Trustee | Typeofentrustedfinancialmanagement |
| BankofNingboBeilunSub-branch | BankFinancialProduct | 25,000.00 | December4th,2024 | June4th,2025 | Fundraised | CompanyStructuredDeposit7202404630 | No | Principal-guaranteedfloatingreturn | 1.00~2.45 | 300.01 | 25,000.00 | Yes | No | |||
| HangzhouBank,NingboBeilunSub-branch | BankFinancialProduct | 20,000.00 | December4th,2024 | June6th,2025 | Fundraised | StructuredDepositProduct“TianLiBao”(TLBB202415434) | No | Principal-guaranteedfloatingreturn | 1.25~2.60 | 259.29 | 20,000.00 | Yes | No | |||
| BankofNingboBeilun | BankFinancialProduct | 20,000.00 | December25th,2024 | June25th,2025 | Fundraised | CompanyStructuredDeposit | No | Principal-guaranteedfloati | 1.00%-2.42% | 240.01 | 20,000.00 | Yes | No |
2024
| Sub-branch | 7202404931 | ngreturn | |||||||||||||
| HangzhouBank,NingboBeilunSub-branch | BankFinancialProduct | 20,000.00 | December25th,2024 | June27th,2025 | Fundraised | “TianLiBao”and”StructuredDepositProduct(TLBB202416388) | No | Principal-guaranteedfloatingreturn | 1.25%-2.65% | 264.27 | 20,000.00 | Yes | No | ||
| PudongDevelopmentBank,NingboBranch | BankFinancialProduct | 10,000.00 | December25th,2024 | June25h,2025 | Fundraised | LiduoCompanyTimely24JG7528RMBPublicStructuredDeposit | No | Principal-guaranteedfloatingreturn | 0.85%-2.45% | 120.82 | 10,000.00 | Yes | No | ||
| IndustrialBankofChinaNingboBranch | BankFinancialProduct | 10,000.00 | December25th,2024 | June25h,2025 | Fundraised | CorporateFinanceRMBStructuredDepositProduct | No | Principal-guaranteedfloatingreturn | 1.5%-2.42% | 120.01 | 10,000.00 | Yes | No |
OtherConditions
2024
□Applicable√Non-applicable
(3)Impairmentprovisionforentrustedfinancialmanagement
□Applicable√Non-applicable
2.Conditionsofentrustedloans
(1)Generalconditionsofentrustedloans
□Applicable√Non-applicableOtherconditions
□Applicable√Non-applicable
(2)Individualentrustedloans
□Applicable√Non-applicableOtherConditions
□Applicable√Non-applicable
(3)Impairmentprovisionforentrustedloans
□Applicable√Non-applicable
3.OtherConditions
□Applicable√Non-applicable
(4)OtherSignificantContracts
□Applicable√Non-applicableXIV.Notetotheupdateoftheutilizationofproceeds
√Applicable□Non-applicable
2024
(1)Overallutilizationofissueproceeds
√Applicable□Non-applicable
Unit:inRMB10,000
| Sourceofproceeds | Timeofreceiptofproceeds | Totalamountofproceeds | Netamountoffundsraised(1) | Totalcommittedinvestmentoftheproceedsintheprospectusorofferingmemorandum(2) | Totalamountofover-raisedfunds(3)=(1)-(2) | Totalamountofcumulativeinvestmentofproceedsasattheendofthereportingperiod(4) | Ofwhich:Cumulativetotalamountofover-providedfundsinvestedasattheendofthereportingperiod(5) | Progressofcumulativeinvestmentofproceedsasoftheendofthereportingperiod(%)(6)=(4)/(1) | Cumulativeprogressofinvestmentasattheendofthereportingperiod(%)(7)=(5)/(3) | Amountinvestedinthecurrentyear(8) | AmountinvestedinthecurrentyearPercentage(%)(9)=(8)/(1) | Totalamountoffund-raisingforchangeofuse |
| Issuanceofconvertiblebonds | July20,2022 | 250,000.00 | 248,897.26 | 248,897.26 | 0.00 | 184,971.26 | 0.00 | 74.32 | 0.00 | 39,023.33 | 15.68 | 0.00 |
| IssuanceofSharestospecificsubjects | January16,2024 | 351,482.69 | 349,843.78 | 349,843.78 | 0.00 | 111,421.71 | 0.00 | 31.85 | 0.00 | 111,421.71 | 31.85 | 0.00 |
| Total | / | 601,482.69 | 598,741.04 | 598,741.04 | 0.00 | 296,392.97 | 0.00 | / | / | 150,445.04 | / | 0.00 |
Othernotes
□Applicable√Notapplicable
2024
(II)Particularsabouttheissueandinvestmentprojects
√Applicable□Notapplicable
1、Detailedutilizationofissueproceeds
√Applicable□Notapplicable
| Sourceofproceedsfromraisedfunds | Projecttitle | Projectnature | Whetheritisacommittedinvestmentprojectintheprospectusorofferingprospectus | Whetheritinvolvesachangeofinvestment | Totalplannedinvestmentofproceeds(1) | Amountinvestedinthecurrentyear | Cumulativetotalamountofproceedsinvestedasattheendofthereportingperiod(2) | Cumulativeprogressofinvestmentasattheendofthereportingperiod(%)(3)=(2)/(1) | Datewhentheprojectreachestheintendedstateofuse | Whethertheprojecthasbeencompleted | Whethertheprogressofinvestmentisinlinewiththeplannedprogress | Specificreasonsfortheprogressofinvestmentfallingshortoftheplan因 | Benefitsrealizedinthecurrentyear | BenefitsrealizedorR&Dresultsoftheproject | Whetherthereisanysignificantchangeinthefeasibilityoftheproject,andifso,pleaseexplainthespecificcircumstances | Amountofsavings |
| Issuanceofconvertiblebonds | ConstructionProjectforanAnnualProductionof1.5MillionSetsofLightweightChassisSystems | Producctionandconstruction | Yes | No | 72,133.99 | 10,009.57 | 72,905.66 | 101.07 | June2024 | Yes | Yes | NA | 2,565.35 | 2,565.35 | No | |
| Issuanceofconvertiblebonds | ConstructionProjectforanAnnualProductionof3.3MillionSetsofLightweightChassisSystems | Producctionandconstruction | Yes | No | 176,763.27 | 29,013.76 | 112,065.60 | 63.40 | Underconstruction | No | Yes | NA | NA | NA | No | |
| Issueofsharestospecificsubjects | ProjectforanAnnualProductionof1.2MillionSetsofLightweight | Producctionandconstruction | Yes | No | 60,000.00 | 23,693.14 | 23,693.14 | 39.49 | Underconstruction | No | Yes | NA | NA | NA | No |
2024
| ChassisSystemsand600,000SetsofAutomotiveInteriorFunctionalComponents | |||||||||||||||
| Issueofsharestospecificsubjects | AnnualProductionof2.2MillionSetsofLightweightChassisSystems | Producctionandconstruction | Yes | No | 75,000.00 | 18,905.64 | 18,905.64 | 25.21 | Underconstruction | No | Yes | NA | NA | NA | No |
| Issueofsharestospecificsubjects | ProjectforanAnnualProductionof500,000SetsofAutomotiveInteriorFunctionalComponents | Producctionandconstruction | Yes | No | 10,000.00 | 4,755.57 | 4,755.57 | 47.56 | Underconstruction | No | Yes | NA | NA | NA | No |
| Issueofsharestospecificsubjects | ProjectforanAnnualProductionof1.1MillionSetsofAutomotiveInteriorFunctionalComponentsandanAnnualProductionof1.3MillionSetsofThermalManagementSystems | Producctionandconstruction | Yes | No | 100,000.00 | 15,257.29 | 15,257.29 | 15.26 | Underconstruction | No | Yes | NA | NA | NA | No |
| Issueofsharestospecificsubjects | ProjectforanAnnualProductionof1.6 | Producctionandconstruction | Yes | No | 50,000.00 | 8,240.48 | 8,240.48 | 16.48 | Underconstruction | No | Yes | NA | NA | NA | No |
2024
| MillionSetsofLightweightChassisSystems | |
| Issueofsharestospecificsubjects |
ProjectforanAnnualProductionof300,000
SetsofLightweight
Chassis
Systems
andan
AnnualProductionof500,000
SetsofAutomotive
InteriorFunctionalComponent
s
| Producctionandconstruction | Yes | No | 19,843.78 | 8,443.20 | 8,443.20 | 42.55 | Underconstruction | No | Yes | NA | NA | NA | No | ||
| Issueofsharestospecificsubjects | ProjectforanAnnualProductionof800,000SetsofLightweightChassisSystemsandanAnnualProductionof400,000SetsofAutomotiveInteriorFunctionalComponentSystems | Producctionandconstruction | Yes | No | 15,000.00 | 13,666.21 | 13,666.21 | 91.11 | Underconstruction | No | Yes | NA | NA | NA | No |
| Issueofsharestospecificsubjects | IntelligentDrivingResearchandDevelopmentCenterProject | Producctionandconstruction | Yes | No | 20,000.00 | 18,460.18 | 18,460.18 | 92.30 | Underconstruction | No | Yes | NA | NA | NA | No |
| Total | / | / | / | / | 598,741.04 | 150,445.04 | 296,392.97 | / | / | / | / | / | / | / |
2024
2.Detailedutilizationofover-raisedfunds
□Applicable√Notapplicable(III)Changesorterminationoffund-raisinginvestmentsduringthereportingperiod
□Applicable√Notapplicable
2024
(4)Othercircumstancesregardinguseofproceedsduringthereportingperiod
1.Upfrontcostandreplacementofissueproceedsinvestmentprojects
√Applicable□Notapplicable
AsofMarch14,2024,theCompanyhadallocatedatotalofRMB633,981,702.10towardsinvestmentprojectsusingself-financingfunds.Duringthe8
th
MeetingoftheFifthSessionoftheBoardofDirectorsandthe8thMeetingoftheFifthSessionoftheSupervisoryCommitteeonApril22nd,2024,the"ResolutionontheUseofProceedstoReplaceSelf-financingFundsInvestedinProceedsRaisedProjectsinAdvance"wasconsideredandapproved.Itwasresolvedtosubstitutetheself-financingfundstotalingRMB63,3981,700investedasofMarch14th,2024withtheproceeds.Thisresolutionwassupportedbytheindependentdirectors,whoprovidedtheirindividualopinions,andendorsedbythesponsoringorganizationthroughaspecialverificationopinion.Additionally,BDOChinaShuLunPanCertifiedPublicAccountantsLLP(SpecialGeneralPartnership)issued[2024]ZF10325,"SpecialAssuranceReportontheReplacementofProceedsbyNingboTuopuGroupCo.,Ltd"
AsofMarch14th,2024,theactualself-financingfundsinvestedintheproceedsinvestmentprojectstobereplacedbytheCompanyareasfollows:
Unit:inRMB10,000
| Projecttitle | Amountprospectivelyinvestedbyissueproceeds | Amountinvestedinadvancebyself-financingfunds |
| ChongqingProjectforanAnnualProductionof1.2MillionSetsofLightweightChassisSystemsand600,000SetsofAutomotiveInteriorFunctionalComponents | 60,000.00 | 18,578.90 |
| NingboQianwanProjectforanAnnualProductionof2.2MillionSetsofLightweightChassisSystems | 75,000.00 | 7,382.47 |
| NingboQianwanProjectforanAnnualProductionof500,000SetsofAutomotiveInteriorFunctionalComponents | 10,000.00 | 3,507.14 |
| NingboQianwanProjectforanAnnualProductionof1.1MillionSetsofAutomotiveInteriorFunctionalComponentsandanAnnualProductionof1.3MillionSetsofThermalManagementSystems | 100,000.00 | 4,604.99 |
| NingboQianwanProjectforanAnnualProductionof1.6MillionSetsofLightweightChassisSystems | 50,000.00 | 566.94 |
| AnhuiShouCountyProjectforanAnnualProductionof300,000SetsofLightweightChassisSystemsandanAnnualProductionof500,000SetsofAutomotiveInteriorFunctionalComponents | 19,843.78 | 8,161.48 |
| HuzhouChangxingProjectforanAnnualProductionof800,000SetsofLightweightChassisSystemsandanAnnual | 15,000.00 | 9,102.40 |
2024
| Productionof400,000SetsofAutomotiveInteriorFunctionalComponentSystems | ||
| IntelligentDrivingResearchandDevelopmentCenterProject | 20,000.00 | 11,493.85 |
| Total | 349,843.78 | 63,398.17 |
AsofDecember31,2024,theCompanyhasactuallyreplacedtheadvancedfundsofRMB633,981,702.10asupfrontcost.
2.Temporaryreplenishmentofworkingcapitalwithidleproceeds
√Applicable□Notapplicable
1.OnApril17,2023,theTwenty-ninthMeetingoftheFourthSessionoftheCompany'sBoardofDirectorsreviewedandapprovedthe'ProposalontheUseofPartoftheTemporarilyIdleProceedstoSupplementLiquidity.'ThisproposalinvolvedtheCompanyseekingtoenhanceitsliquiditybyutilizinganewsumoftemporarilyidleproceeds,cappedatRMB500million,withtheusageperiodcommencingonJuly1,2023,andconcludingonJune30,2024.Theindependentdirectors,theSupervisoryCommittee,andtheCompany'ssponsorallexpressedtheiragreementwiththisproposal.InJuly2023,theCompanyutilizedRMB30,000,000andsubsequentlyreturnedtheentireamountofRMB30,000,000forsupplementalworkingcapitaltothefundraisingaccountinJune2024.
2.OnJanuary29,2024,theFifthMeetingoftheFifthSessionoftheCompany'sBoardofDirectorsreviewedandapprovedthe'ProposalontheAdditionofaNewAmountofIdleProceedsforSupplementingLiquidity.'Thisproposalaimedtointroduceanadditionalsumoftemporarilyidleproceeds,notexceedingRMB80,000.00million,forthetemporaryenhancementofliquidity,effectivefromthedateofapprovalbytheshareholders'generalmeetinguntilJune30,2024.OnFebruary19,2024,theFirstExtraordinaryShareholders'GeneralMeetingof2024alsoapprovedthe'ProposalontheNewAmountofTemporarilyIdleProceedstoSupplementLiquidFunds.'TheSupervisoryCommitteeandtheSponsoringInstitutionexpressedtheiragreementwiththisproposal.However,followingtheadditionofnewidleproceedsforliquidityenhancement,theCompanydidnotutilizeanytemporarilyidleproceedsforthispurpose.
3.OnApril22,2024,theEighthMeetingoftheFifthSessionoftheCompany'sBoardofDirectorsreviewedandapprovedthe'ProposalontheUseofPartofTemporarilyIdleProceedstoSupplementLiquidFunds.'Thisproposalaimstoutilizetemporarilyidleproceeds,withamaximumlimitofRMB1,000,000.00million,toenhanceliquidfundsfortheperiodfromJuly1,2024,toJune30,2025.Thedurationforwhichthesupplementalworkingcapitalcanbeutilizedshallnotexceed12months.BoththeSupervisoryCommitteeoftheCompanyandthesponsoringinstitutionhaveexpressedtheirapprovalofthisinitiative.Furthermore,onJune24,2024,theannualgeneralmeetingoftheCompany,heldin2023,alsoapprovedthe'ProposalontheUseofPartofTemporarilyIdleProceedsforSupplementingLiquidFunds.'TheCompanyallocatedRMB60,000,000inJuly2024andRMB20,000,000inSeptember2024fromthesetemporarilyidleproceeds,whichremainclassifiedastemporarysupplementalworkingcapitalandarescheduledtobereturnedpriortotheduedate.
3.Cashmanagementofidleproceedsandinvestmentinrelatedproducts
√Applicable□Notapplicable
Unit:inRMB10,000Currency:yuan
| DateofconsiderationbytheBoardofDirectors | Effectiveconsiderationofissueproceedsforcashmanagement | Startdate | Enddate | Cashmanagementbalanceattheendofthereportingperiod | Whetherthehighestbalanceduringtheperiodexceededthe |
2024
| authorizedamount | |||||
| April17,2023 | 50,000 | July1,2023 | June30,2024 | 0 | No |
| January29,2024 | 200,000 | February19,2024 | June30,2024 | 0 | No |
| April22,2024 | 280,000 | July1,2024 | June30,2024 | 105,000 | No |
1.OnApril17,2023,theCompanyconvenedthe29thMeetingoftheFourthSessionoftheBoardofDirectorsandthe2022AnnualGeneralMeetingoftheCompanyonJune19,2023.Duringthemeeting,the"ProposalonUtilizingaPartofTemporarilyIdleProceedsforEntrustedWealthManagement"wasdeliberatedandapproved.ItwasagreedthattheCompanywouldallocateamaximumamountofRMB500millionfromthetemporarilyidleproceedsforwealthmanagementpurposes.ThisauthorizationwouldbeeffectivefromJuly1,2023,untilthedateofapproval.TheauthorizationperiodspansfromJuly1,2023,toJune30,2024.Theallocatedfundscanbeutilizedonarollingbasis.TheIndependentDirectors,SupervisoryCommittee,andsponsoringorganizationoftheCompanysharedtheirperspectivesonthismatter.
2.DuringtheFifthMeetingoftheFifthSessionoftheBoardofDirectorsonJanuary29,2024,theCompanyreviewedandapprovedthe'ProposalontheNewAmountofIdleProceedsEntrustedforWealthManagement'.ItwasresolvedthattheCompany,includingitswholly-ownedsubsidiaries,wouldallocateamaximumofRMB200,000.00millionoftemporarilyidlefundsforwealthmanagement,effectivefromthedateofapprovalbytheShareholders'GeneralMeetinguntilJune30,2024.Theallocatedfundsmaybeutilizedonarollingbasis.BoththeSupervisoryCommitteeandtheSponsorendorsedthisdecision.
3.Subsequently,onFebruary19,2024,theFirstExtraordinaryShareholders'GeneralMeetingof2024ratifiedthe'ProposalonNewIdleProceedsEntrustedforWealthManagement'.OnApril22,2024,theEighthMeetingoftheFifthSessionoftheBoardofDirectorsapprovedthe'ProposalontheUseofPartofTemporarilyIdleProceedsforEntrustedWealthManagement',allowingforamaximumofRMB280,000.00milliontobeusedforstructureddepositsorprincipal-protectedwealthmanagementproducts,withauthorizationfromJuly1,2024,toJune30,2025,andthefundsmayalsobeutilizedonarollingbasis.TheSupervisoryCommitteeandtheSponsoragreedtothisproposal,whichwassubsequentlyapprovedatthe2023AnnualGeneralMeetingonJune24,2024.
4.In2024,theCompanyengagedinthemanagementofidlecash,acquiringatotalofRMB4,495,000.00millioninrelevantfinancialproducts,whileredeemingRMB3,745,000.00millionofsuchproducts.AsofDecember31,2024,thetotalvalueoftheCompany'soutstandingwealthmanagementproductswasRMB1,050,000.00million.Detailedtransactioninformationregardingthepurchasedfinancialproductsisprovidedinthetablebelow:
Unit:inRMB10,000.Currency:Yuan
| Trustee | Nameofentrustedfinancialproducts | Amountentrusted(inRMB) | Interestcommencementdate | Maturitydate | Whetherrecoveredonmaturityonthebalancesheetdate |
| BankofChinaXindaluSub-Branch | Structureddeposits | 4,900.00 | 2024.1.2 | 2024.3.28 | Yes |
| BankofChinaXindaluSub-Branch | Structureddeposits | 5,100.00 | 2024.1.2 | 2024.3.29 | Yes |
| BankofChinaBeilunBranch | Structureddeposits | 30,000.00 | 2024.2.22 | 2024.8.30 | Yes |
2024
| PingAnBankNingboBeilunSub-Branch | Structureddeposits | 20,000.00 | 2024.2.23 | 2024.6.28 | Yes |
| ShanghaiPudongDevelopmentBankNingboBranch | Structureddeposits | 100,000.00 | 2024.2.23 | 2024.8.23 | Yes |
| ShanghaiPudongDevelopmentBankNingboBranch | Structureddeposits | 10,000.00 | 2024.3.29 | 2024.6.28 | Yes |
| BankofChinaBeilunBranch | Structureddeposits | 10,000.00 | 2024.4.1 | 2024.9.29 | Yes |
| BankofHangzhouNingboBeilunSub-Branch | Structureddeposits | 10,000.00 | 2024.6.28 | 2024.9.27 | Yes |
| BankofNingboBeilunSub-Branch | Structureddeposits | 14,000.00 | 2024.6.28 | 2024.12.27 | Yes |
| BankofChinaBeilunBranch | Structureddeposits | 23,000.00 | 2024.8.16 | 2024.12.27 | Yes |
| BankofHangzhouNingboBeilunSub-Branch | Structureddeposits | 7,400.00 | 2024.8.19 | 2024.11.19 | Yes |
| ShanghaiPudongDevelopmentBankNingboBranch | Structureddeposits | 27,100.00 | 2024.8.27 | 2024.12.25 | Yes |
| ShanghaiPudongDevelopmentBankNingboBranch | Structureddeposits | 10,000.00 | 2024.8.5 | 2024.12.31 | Yes |
| BankofNingboBeilunSub-Branch | Structureddeposits | 5,000.00 | 2024.8.6 | 2024.12.26 | Yes |
| PingAnBankNingboBeilunSub-Branch | Structureddeposits | 15,000.00 | 2024.8.6 | 2024.12.30 | Yes |
| ShanghaiPudongDevelopmentBankNingboBranch | Structureddeposits | 10,000.00 | 2024.9.5 | 2024.12.25 | Yes |
| BankofNingboBeilunSub-Branch | Structureddeposits | 3,000.00 | 2024.9.6 | 2024.12.26 | Yes |
| IndustrialBankNingboBranch | Structureddeposits | 10,000.00 | 2024.9.6 | 2024.12.30 | Yes |
| PingAnBankNingboBeilunSub-Branch | Structureddeposits | 20,000.00 | 2024.9.6 | 2024.12.31 | Yes |
| BankofHangzhouNingboBeilunSub-Branch | Structureddeposits | 10,000.00 | 2024.9.9 | 2024.12.9 | Yes |
| ShanghaiPudongDevelopmentBankNingboBranch | Structureddeposits | 10,000.00 | 2024.12.25 | 2025.6.25 | No |
| BankofNingboBeilunSub-Branch | Structureddeposits | 20,000.00 | 2024.12.26 | 2025.6.25 | No |
| IndustrialBankNingboBranch | Structureddeposits | 10,000.00 | 2024.12.26 | 2025.6.25 | No |
| BankofHangzhouNingboBeilunSub-Branch | Structureddeposits | 20,000.00 | 2024.12.27 | 2025.6.27 | No |
| BankofNingbo | Structured | 10,000.00 | 2024.12.5 | 2025.6.4 | No |
2024
| BeilunSub-Branch | deposits | ||||
| BankofNingboBeilunSub-Branch | Structureddeposits | 15,000.00 | 2024.12.5 | 2025.6.4 | No |
| BankofHangzhouNingboBeilunSub-Branch | Structureddeposits | 20,000.00 | 2024.12.6 | 2025.6.6 | No |
Note:OnDecember29,2023,theCompanytransferredRMB100,000,000fromthefundraisingspecialaccountatChinaMerchantsBanktotheWealthManagementSpecialAccountatBankofChinafortheacquisitionofstructureddeposits.ThistransactioncoincidedwiththeNewYear'sDayholiday,asthecooling-offperiodforpurchasingstructureddepositswastwenty-fourhoursfromthesigningoftheSubscriptionMandate,leadingtoasuccessfulacquisitionofthesewealthmanagementproductsonJanuary2,2024.
4.Permanentreplenishmentofworkingcapitalorreturnofbankloanswithover-raisedfunds
□Applicable√Notapplicable
5.Other
□Applicable√NotapplicableXV.Notetoothermaterialmattersthathavesignificantinfluenceoninvestors'valuejudgmentandinvestmentdecisions
□Applicable√Notapplicable
Section7ChangesinSharesandShareholdersI.Conditioninchangeofequity
(1)Conditioninchangeofshares
1.Conditioninchangeofshares
Unit:shares
| Beforechange | Increaseordecrease(+，-) | Afterchange | |||||||
| Shares | Percent(%) | Issueofnewshares | Bonusshares | Conversionofsharesfromprovidentfund | Other | Subtotal | Shares | Percent(%) | |
| I.Restrictedshares | |||||||||
| 1.Sharesheldbythestate | |||||||||
| 2.Sharesheldbystate-ownedcorporations | |||||||||
| 3、Otherdomesticshares | |||||||||
| Ofwhich:sharesheldbydomesticnon-statelegalpersons | |||||||||
| Sharesheldbydomesticnaturalpersons | |||||||||
| 4.Sharesheldbyforeigncapital | |||||||||
| Ofwhich:sharesheldbyoverseascorporates | |||||||||
| Sharesheldbyoverseasnatural | |||||||||
| persons | |||||||||
| II.Non-restrictedsharesincirculation | 1,102,049,773 | 100 | 60,726,104 | 523,249,176 | 602 | 583,975,882 | 1,686,025,655 | 100 | |
| 1.RMBcommonshares | 1,102,049,773 | 100 | 60,726,104 | 523,249,176 | 602 | 583,975,882 | 1,686,025,655 | 100 | |
| 2.Domesticlistedforeignshares | |||||||||
| 3.Overseaslistedforeignshares | |||||||||
| 4.Other | |||||||||
| III.Totalshares | 1,102,049,773 | 100 | 60,726,104 | 523,249,176 | 602 | 583,975,882 | 1,686,025,655 | 100 |
2.Changesinshares
√Applicable□Non-applicable
(1)OnJanuary26,2024,theCompanyfinalizedtheissuanceof60,726,104RMBordinaryshares(Ashares)todesignatedparties,completingthenecessaryregistration,custodianship,andrestrictionproceduresonthatsameday.
(2)OnJuly19,2024,theCompanyexecutedthe2023annualequitydistributionbytransferring523,249,176newsharesfromitsprovidentfund.
(3)Throughoutthereportingperiod,theCompany'sconvertiblebondswereconvertedintoatotalof602shares.
3.ImpactofchangesinsharesonfinancialindexessuchasEPSandnetassetspershareinthemostrecentyearandthemostrecentperiod(ifany)
√Applicable□Non-applicable
1.ThecumulativenumberofsharestobeconvertedfromtheconvertiblebondsissuedbytheCompany“TuopuConvertibleBonds”in2024is602shares,accountingforaverylowpercentageofthetotalissuedsharesoftheCompanybeforetheconversion.Therefore,theimpactoftheabovechangesinsharesduetotheconversionofconvertiblebondsonfinancialindicatorssuchasearningspershareandnetassetspershareforthelastyearandperiodisnegligible.
2.Followingthedeliberationsandapprovalofthe2023AnnualGeneralMeetingofShareholders,theCompany'sproposalforprofitdistributionandcapitalizationfortheyear2023isoutlinedasfollows:basedonthetotalsharecapitalof1,162,775,947sharespriortotheexecutionoftheproposal,acashdividendofRMB0.556pershare(inclusiveoftax)willbedistributed,alongwithanallocationof0.45sharespersharetoallshareholdersfromthecapitalreserve.ThisresultsinatotalcashdividendofRMB646,503,426.53andthetransferof523,249,176shares.Consequently,thetotalsharecapitaloftheCompanypost-conversionwillamountto1,686,025,109shares.Theex-rightsdateforthisequitydistributionplanissetforJuly18,2024,whilethelistingdateforthe
additionalsharesarisingfromthecapitalizationoftheprovidentfundisJuly19,2024.Followingtheexecutionofthestockdividendplan,theearningspersharefortheyear2024,basedonthedilutednewtotalsharecapitalof1,686,025,109shares,willbeRMB1.79,andthenetassetspersharewillbeRMB11.60.
4.OthercontentastheCompanydeemsnecessarytodiscloseorrequiredbythesecuritiesregulatoryinstitution
□Applicable√Non-applicable
(2)Changesinrestrictedsaleofshares
√Applicable□Non-applicable
Unit:shares
| Nameofshareholder | Numberofsharessubjecttosellingrestrictionsatthebeginningoftheyear | Numberofsharesreleasedfromsellingrestrictionsduringtheyear | Increaseinthenumberofsharessubjecttosellingrestrictionsduringtheyear | Numberofsharessubjecttosellingrestrictionsattheendoftheyear | Reasonforsellingrestriction | Dateofreleaseofrestrictedshares |
| J.P.MorganSecuritiesplc | 0 | 12,150,137 | 12,150,137 | 0 | Participationinthecompany'sofferingofsharestospecificsubjectsforarestrictedperiodofsixmonths | July26th,2024 |
| UBSAG | 0 | 7,390,289 | 7,390,289 | 0 | Participationinthecompany'sofferingofsharestospecificsubjectsforarestrictedperiodofsixmonths | July26th,2024 |
| NuoDeFundManagementCo.,Ltd. | 0 | 7,563,378 | 7,563,378 | 0 | Participationinthecompany'sofferingofsharestospecificsubjectsforarestrictedperiodofsixmonths | July26th,2024 |
| ChangzhouWangxiInvestmentPartnership(LimitedPartnership) | 0 | 3,006,220 | 3,006,220 | 0 | Participationinthecompany'sofferingofsharestospecificsubjectsforarestrictedperiodofsixmonths | July26th,2024 |
| CITICSecuritiesCompanyLimited | 0 | 15,206,461 | 15,206,461 | 0 | Participationinthecompany'sofferingofsharestospecificsubjectsforarestrictedperiodofsixmonths | July26th,2024 |
| GuotaiJunanSecuritiesCo.,Ltd. | 0 | 8,645,386 | 8,645,386 | 0 | Participationinthecompany'sofferingof | July26th,2024 |
| sharestospecificsubjectsforarestrictedperiodofsixmonths | ||||||
| CaitongFundManagementCo.,Ltd. | 0 | 5,030,377 | 5,030,377 | 0 | Participationinthecompany'sofferingofsharestospecificsubjectsforarestrictedperiodofsixmonths | July26th,2024 |
| CITICSecuritiesAssetManagementCo.,Ltd. | 0 | 3,081,871 | 3,081,871 | 0 | Participationinthecompany'sofferingofsharestospecificsubjectsforarestrictedperiodofsixmonths | July26th,2024 |
| GTFundManagementCo.,Ltd. | 0 | 3,281,782 | 3,281,782 | 0 | Participationinthecompany'sofferingofsharestospecificsubjectsforarestrictedperiodofsixmonths | July26th,2024 |
| ChinaAMC(ChinaAssetManagementCo.,Ltd.) | 0 | 4,759,841 | 4,759,841 | 0 | Participationinthecompany'sofferingofsharestospecificsubjectsforarestrictedperiodofsixmonths | July26th,2024 |
| PenghuaFundManagementCo.,Ltd. | 0 | 7,390,289 | 7,390,289 | 0 | Participationinthecompany'sofferingofsharestospecificsubjectsforarestrictedperiodofsixmonths | July26th,2024 |
| CPICAssetManagementCo.,Ltd. | 0 | 3,031,271 | 3,031,271 | 0 | Participationinthecompany'sofferingofsharestospecificsubjectsforarestrictedperiodofsixmonths | July26th,2024 |
| MorganStanleyInternationalLimited | 0 | 3,006,220 | 3,006,220 | 0 | Participationinthecompany'sofferingofsharestospecificsubjectsforarestrictedperiodofsixmonths | July26th,2024 |
| TiananLifeInsuranceCo.,Ltd. | 0 | 4,509,329 | 4,509,329 | 0 | Participationinthecompany'sofferingofsharestospecificsubjectsforarestrictedperiodofsixmonths | July26th,2024 |
| Total | 0 | 88,052,851 | 88,052,851 | 0 | / | / |
II.IssuanceofSecuritiesandPublicListing
(1)Issuanceofsecuritiesasofthereportingperiod
√Applicable□Non-applicable
Unit:shares.Currency:yuan
| Typeofsharesandtheirderivativesecurities | Issuedate | Issueprice(orinterestrate) | Numberofissues | Listingdate | Numberofsharesauthorizedfortrading | Dateoftradingended |
| Ordinaryshareclass | ||||||
| IssuanceofA-sharestospecificsubjects | 2024-01-26 | 57.88元/股 | 60,726,104 | 2024-07-26 | 88,052,851 | |
Explanationofsecuritiesissuanceasofthereportingperiod(forbondswithdifferentinterestratesduringthetermofexistence,pleaseexplainseparately)
√Applicable□NotapplicableOnJanuary26,2024,theCompanyfinalizedtheissuanceof60,726,104RMBordinaryshares(Ashares)todesignatedparties,subjecttoa6-monthrestrictionperiod.Subsequently,onJuly19,2024,inaccordancewiththeCompany'sannualequitydistributionfortheyear2023,atransferof0.45sharespersharewasmadetoallshareholdersfromthecapitalreserve,resultinginacorrespondingincreaseof27,326,747sharesfortheaforementioned60,726,104Asharesissuedtospecificparties.Consequently,onJuly26,2024,whentheserestrictedsharesarelistedandbecometradable,thetotalnumberofshareswillamountto88,052,851.
(2)ChangesinthetotalnumberofcapitalstockoftheCompanyandchangesinthestructureofshareholdersandchangesinthestructureofassetsandliabilities
√Applicable□Non-applicable
1.OnJanuary26,2024,theCompanyfinalizedtheissuanceof60,726,104Asharestodesignatedparties,resultinginnetproceedsofRMB3,498,437,798.43.Followingthisissuance,theCompany'stotalsharecountrosefrom1,102,049,773to1,162,775,877,leadingtoacorrespondingincreaseintheCompany'snetassets.
2.OnJuly19,2024,theCompanyexecutedthe2023annualequitydistribution,transferring523,249,176newsharesfromtheprovidentfund,whichalsocontributedtoanincreaseinthetotalnumberofshares.
3.Duringthereportingperiod,theconversionoftheCompany'sconvertiblebondsresultedintheissuanceof602newshares,furtheraugmentingthetotalsharecount.
(3)Existingemployeeshares
□Applicable√Non-applicable
III.Shareholdersandactualcontrollers
(1)Totalshareholders
| Totalnumber(accounts)ofcommonshareholdersasoftheendofthereportingperiod | 61,254 |
| Totalnumberofordinaryshareholders(accounts)asoftheendofthepreviousmonthbeforethedisclosuredateoftheannualreport | 103,949 |
| Totalnumber(accounts)ofpreferredshareholderswhosevotingrightshavebeenrestoredasoftheendofthereportingperiod | NA |
| Totalnumber(accounts)ofpreferredshareholderswhosevotingrightswererestoredattheendofthepreviousmonthpriortothedisclosureofthisannualreport | NA |
(2)Sharesheldbythetoptenshareholdersandtoptentradableshareholders(orshareholdersnotsubjecttorestrictedsale)asoftheendofthereportingperiod
Unit:Shares
| Sharesheldbythetoptenshareholders | |||||||
| NameofShareholder(FullName) | Increase/Decreaseduringthereportingperiod | Numberofsharesheldattheendoftheperiod | Percentage(%) | Numberofsharesheldsubjecttorestrictedsale | Conditionofpledge,markingorfreezing | Natureofshareholders | |
| Statusofshares | Numberofshares | ||||||
| MECCAINTERNATIONALHOLDING（HK）LIMITED | 1,005,836,000 | 59.66 | No | Overseascorporation | |||
| HongKongSecuritiesClearingCompanyLimited | 77,668,441 | 4.61 | Unknown | Unknown | |||
| WuJianshu | 11,996,731 | 0.71 | No | OverseasNaturalPerson | |||
| IndustrialandCommercialBankofChinaLimited-Huatai-PinebridgeCSI300TradedOpen-EndIndexFund | 11,672,583 | 0.69 | Unknown | Unknown | |||
| TaipingLifeInsuranceCompanyLimited-Traditional-GeneralInsuranceProduct-022L-CT001Shanghai | 10,393,461 | 0.62 | Unknown | Unknown | |||
| NewChinaLifeInsuranceCompanyLimited-Traditional-GeneralInsuranceProduct-018L-CT001Shanghai | 8,658,270 | 0.51 | Unknown | Unknown | ||||||
| ChinaConstructionBankCorporation-EfoundsCSI300Open-EndIndexInitiatedInvestmentFund | 8,035,992 | 0.48 | Unknown | Unknown | ||||||
| NingboZhuyueInvestmentManagementCo.,Ltd. | 7,841,064 | 0.47 | No | DomesticNon-State-OwnedLegalPerson | ||||||
| TaipingLifeInsuranceCo.,Ltd. | 7,084,145 | 0.42 | Unknown | Unknown | ||||||
| ChinaConstructionBankCorporation-Xin'aoNewEnergySelectionHybridSecuritiesInvestmentFund | 7,047,774 | 0.42 | Unknown | Unknown | ||||||
| Sharesheldbythetoptenshareholdersnotsubjecttorestrictedsale(excludinglendingofsharesthroughthetransferfacility) | ||||||||||
| NameofShareholder | Numberoftradablesharesheldnotsubjecttorestrictedsale | Classandnumberofshares | ||||||||
| Class | Numberofshares | |||||||||
| MECCAINTERNATIONALHOLDING（HK）LIMITED | 1,005,836,000 | RMBcommonshares | 1,005,836,000 | |||||||
| HongKongSecuritiesClearingCompanyLimited | 77,668,441 | RMBcommonshares | 77,668,441 | |||||||
| WuJianshu | 11,996,731 | RMBcommonshares | 11,996,731 | |||||||
| IndustrialandCommercialBankofChinaLimited-Huatai-PinebridgeCSI300TradedOpen-EndIndexFund | 11,672,583 | RMBcommonshares | 11,672,583 | |||||||
| TaipingLifeInsuranceCompanyLimited-Traditional-GeneralInsuranceProduct-022L-CT001Shanghai | 10,393,461 | RMBcommonshares | 10,393,461 | |||||||
| NewChinaLifeInsuranceCompanyLimited-Traditional-GeneralInsuranceProduct-018L-CT001Shanghai | 8,658,270 | RMBcommonshares | 8,658,270 | |||||||
| ChinaConstructionBankCorporation-EfoundsCSI300Open-EndIndexInitiatedInvestmentFund | 8,035,992 | RMBcommonshares | 8,035,992 | |||||||
| NingboZhuyueInvestmentManagementCo.,Ltd. | 7,841,064 | RMBcommonshares | 7,841,064 | |||||||
| TaipingLifeInsuranceCo.,Ltd. | 7,084,145 | RMBcommonshares | 7,084,145 | |||||||
| ChinaConstructionBankCorporation-Xin'aoNewEnergySelectionHybridSecuritiesInvestmentFund | 7,047,774 | RMBcommonshares | 7,047,774 | |||||||
| Descriptionoftherepurchaseofspecialaccountsamongthetoptenshareholders | NA | |||||||||
| Notestothevotingrightsentrustedbyorto,andwaivedbytheaboveshareholders | NA |
| Notestotheassociatedrelationshiporconcertedactionoftheaboveshareholders | Amongtheseshareholders:1.Mr.WuJianshuholds100%ofthesharesinMECCAINTERNATIONALHOLDING（HK）LIMITED.2.NingboZhuyueInvestmentManagementCo.,Ltd.isawholly-ownedsub-subsidiaryofMECCAINTERNATIONALHOLDING（HK）LIMITED,thecontrollingshareholderoftheCompany,andisapersonactinginconcert.Inaddition,theCompanydoesn’tknowwhetherthereisanassociatedrelationshipamongtheaboveshareholdersorwhethertheyarepartiesactinginconcert. |
| Notestothepreferredshareholderswhosevotingrightshavebeenrestoredandthenumberofsharesheld | NA |
Shareholdersholdingmorethan5%ofshares,toptenshareholdersandtoptenshareholderswithunlimitedsharesincirculationparticipatinginthelendingofsharesinthetransferandfinancingbusiness
√Applicable□Non-applicable
Unit:shares
| Shareholdersholdingmorethan5%ofshares,toptenshareholdersandtoptenshareholderswithunlimitedsharesincirculationparticipatinginthelendingofsharesinthetransferandfinancingbusiness | ||||||||
| Nameofshareholder(fullname) | Sharesheldingeneralaccountandcreditaccountatthebeginningoftheperiod | Shareslentontransferatthebeginningoftheperiodandnotyetreturned | Sharesheldingeneralaccountandcreditaccountattheendoftheperiod | Shareslentontransferattheendoftheperiodandnotyetreturned | ||||
| Totalshares | Percentage(%) | Totalshares | Percentage(%) | Totalshares | Percentage(%) | Totalshares | Percentage(%) | |
| IndustrialandCommercialBankofChinaLimited–Huatai-PineBridgeCSI300ETF | 3,324,400 | 0.30 | 18,100 | 0.0016 | 11,672,583 | 0.69 | 0 | 0 |
| ChinaConstructionBankCorporation–EFundCSI300 | 1,079,200 | 0.10 | 164,500 | 0.0149 | 8,035,992 | 0.48 | 0 | 0 |
Toptenshareholdersandtoptenshareholderswithunlimitedsharesoutstandingchangedfromthepreviousperiodduetolending/repatriationofconvertiblebonds
□Applicable√Non-applicableNumberofsharesheldbythetoptenshareholderswithlimitedsellingrightsandtheconditionsofsalerestriction
□Applicable√Non-applicable
(3)Strategicinvestorsorgenerallegalpersonsbecomingthetoptenshareholdersduetotheplacementofnewshares
□Applicable√Non-applicableIV.ControllingShareholderandActualController
(1)Informationaboutcontrollingshareholders1Corporate
□Applicable□Non-applicable
| Name | MECCAINTERNATIONALHOLDING（HK）LIMITED |
| Headorlegalrepresentative | WuJianshu |
| DateofIncorporation | July21st,2008 |
| Mainbusinessoperations | Investment |
| Shareholdingstatusofotherdomesticandoverseaslistedcompaniesthatholdorparticipateinsharesduringthereportingperiod | No |
| Othernotes | No |
2Naturalperson
□Applicable√Non-applicable3SpecialnotestonocontrollingshareholdersintheCompany
□Applicable√Non-applicable
4.NotestoChangesofControllingShareholdersduringtheReportingPeriod
□Applicable√Non-applicable5BlockdiagramoftheequityrightsandcontrolrelationsbetweentheCompanyandcontrollingshareholders
√Applicable□Non-applicable
(2)Actualcontrollers1Corporate
□Applicable√Non-applicable2Naturalperson
√Applicable□Non-applicable
| Name | WuJianshu |
| Nationality | HongKong |
| Whethertheabovepersonhasacquiredtherightofresidenceinothercountriesorregions | Yes |
| Jobsandtitles | FormerlyasPresidentofNingboTuopuVibrationControlSystemCo.,Ltd.,PresidentofNingboTuopuSoundproofSystemCo.,Ltd.,PresidentofNingboTuopuCouplingCo.,Ltd.,PresidentofNingboTuopuAutomobileSpecialRubberCo.,Ltd.,PresidentofNingboTuopuBrakeSystemCo.,Ltd.CurrentlyinthecapacityofPresidentofMECCAINTERNATIONALHOLDING(HK)LIMITED,PresidentofNingboTuopuGroupCo.,Ltd. |
| Domesticoroverseaslistedcompaniescontrolledbytheabovepersoninthepast10years | No |
3SpecialnotestonocontrollingshareholdersintheCompany
□Applicable√Non-applicable4Indexanddateofchangesincontrollingshareholdersduringthereportingperiod
□Applicable√Non-applicable3SpecialnotestonocontrollingshareholdersintheCompany
√Applicable□Non-applicable
Note:Mr.WuJianshuandMr.WuHaoNianarefatherandson.6Actualcontrollerwhocontrolsthecompanythroughtrustorotherassetmanagementmethods
□Applicable√Non-applicable
(3)Otherinformationaboutthecontrollingshareholderandactualcontroller
□Applicable√Non-applicableV.ThecontrollingshareholderorthefirstmajorityshareholderoftheCompanyanditspersonsactinginconcert,withtheaccumulativenumberofpledgedsharesaccountingformorethan80%ofthesharesheldbythem
□Applicable√Non-applicableⅥ.Othercorporateshareholdersholdingmorethan10%oftheshares
□Applicable√Non-applicableⅦ.Notestorestrictedreductionofshares
□Applicable√Non-applicableⅧ.Statusofsharerepurchasesmadeduringthereportingperiod
□Applicable√Non-applicable
Section8InformationaboutPreferenceShares
□Applicable√Non-applicable
Section9InformationofCorporateBondsI.Corporatebonds,debenturesandnon-financialcorporatedebtfinancinginstruments
□Applicable√Non-applicableII.Conditionofconvertiblecorporatebonds
√Applicable□Non-applicable
(1)Issuanceofconvertiblebonds
□Applicable√Non-applicable
(2)Bondholdersandguarantorsduringthereportingperiod
√Applicable□Non-applicable
| Nameofconvertiblecorporatebonds | TuopuConvertibleBond | ||
| Numberofbondholdersasattheendoftheperiod | 6,135 | ||
| Guarantorforcorporatebonds | NA | ||
| TheTop10convertiblebondholdersarelistedbelow: | |||
| Nameofbondholder | Numberofbondsheldasattheendoftheperiod(inRMB) | Percentofbondsheld(%) | |
| ChinaMerchantsBankCo.,Ltd.–BoseraCSIConvertibleBond&ExchangeableBondETF | 105,801,000 | 4.23 | |
| BankofChinaLimited–GFJuxinBondFund | 98,649,000 | 3.95 | |
| NorthwestInvestmentManagement(HongKong)Limited–NorthwestFlyingDragonFundLimited | 86,000,000 | 3.44 | |
| ChinaGalaxySecuritiesCo.,Ltd. | 81,939,000 | 3.28 | |
| UBSAG | 66,033,000 | 2.64 | |
| AgriculturalBankofChinaLimited–SouthernXiyuanConvertibleBondFund | 60,833,000 | 2.43 | |
| ChinaMerchantsBankCo.,Ltd.–HuabaoConvertibleBondFund | 43,000,000 | 1.72 | |
| NationalSocialSecurityFund–Portfolio111 | 41,297,000 | 1.65 | |
| IndustrialandCommercialBankofChinaLimited–SouthernGuangliBondFund | 40,359,000 | 1.61 | |
| HappyLifeInsuranceCo.,Ltd.–Dividend | 40,175,000 | 1.61 | |
(IV)Changesinconvertiblebondsduringthereportingperiod
√Applicable□Non-applicable
Unit:yuanCurrency:Renminbi
| Nameofconvertiblebonds | Beforechange | Increaseordecrease | Afterchange | ||
| Conversionofshares | Redemptionofshares | Resaleofshares | |||
| TuopuConvertibleBonds | 2,499,772,000 | 31,000 | 2,499,741,000 | ||
Cumulativeconversionofconvertiblebondsduringthereportingperiod
√Applicable□Notapplicable
| Nameofconvertiblebonds | TuopuConvertibleBonds |
| Amountofsharesconvertedinthereportingperiod(yuan) | 31,000 |
| Numberofsharesconvertedinthereportingperiod(shares) | 602 |
| Cumulativenumberofsharesconverted(shares) | 3,803 |
| Cumulativenumberofsharesconvertedaccountedforthetotalnumberofissuedsharesofthecompanybeforeconversion(%) | 0.000345 |
| Amountofsharesnotyetconverted(yuan) | 2,499,741,000 |
| Unconvertedconvertiblebondsasapercentageoftotalconvertiblebondsissued(%) | 99.989640 |
(3)Successiveadjustmentsofconversionprice
√Applicable□Notapplicable
Unit:YuanCurrency:RMB
| Nameofconvertiblebonds | TuopuConvertibleBonds | |||
| Conversionpriceadjustmentdate | Adjustedconversionprice | Disclosuretime | Disclosuremedia | Descriptionofconversionpriceadjustment |
| July17,2023 | RMB70.92/share | July10,2023 | ShanghaiStockExchangewebsite,SecuritiesTimes | AdjustmentoftheconversionpriceofTuopuConvertibleBondduetotheimplementationoftheprofitdistributionplanfortheyear2022 |
| July19,2024 | RMB48.06/share | July12,2024 | ShanghaiStockExchangewebsite,SecuritiesTimes | AdjustmentoftheconversionpriceofTuopuConvertibleBondduetotheimplementationoftheprofitdistributionplanfortheyear2023 |
| Thelatestconversionpriceasattheendofthereportingperiod, | RMB48.06/share | |||
(V)TheCompany'sindebtedness,changesincreditworthinessandcasharrangementsfordebtrepaymentinthecomingyears
√Applicable□NotapplicableThecompany'soperationsremainstable,withagearingratioof47.84%asofDecember31,2024.Followingathoroughanalysisofthecompany'soperationalandindustryconditions,NewCenturyRatingsreleasedthe'2022RegularTrackingRatingReportonPubliclyIssuedConvertibleCorporateBondsofNingboTuopuGroupCo.,Ltd.'Thereportreaffirmedthecompany'smaincreditratingat'AA+'withastableoutlook,andthecreditratingforthe'TuopuConvertibleBond'wasalsomaintainedat'AA+'.Thisratingisunchangedfromthepreviousassessment.Throughoutthereportingperiod,theCompanyhasconsistentlymetitsobligationtopayinteresttotheholdersofthe'TuopuConvertibleBonds'infullandonschedule.(VI)Descriptionofotherconditionsoftheconvertiblebonds
√Applicable□NotapplicableBetweenJanuary22,2025,andFebruary19,2025,duringaspanof30consecutivetradingdays,theclosingpricefor15ofthosedaysmustnotfallbelow130%ofthecurrentconversionpriceofthe'Tuopu
ConvertibleBonds'(whichisRMB62.48pershare).Asoutlinedinthe'TuopuGroupConvertibleBondProspectus',thisconditionhasactivatedtheredemptionclausefortheconvertiblebonds.The17thMeetingoftheFifthSessionoftheCompany'sBoardofDirectorsreviewedandapprovedtheproposalfortheearlyredemptionofthe'TuopuConvertibleBonds',therebydecidingtoexercisetheearlyredemptionoptionandredeemall'TuopuConvertibleBonds'thatareregisteredontheredemptionregistrationdate.AsofthecloseofbusinessonMarch13,2025(theredemptionregistrationdate),theoutstandingbalanceof'TuopuConvertibleBonds'wasRMB9,709,000(97,090bonds),representing0.3884%ofthetotalissuance.AccordingtodatafromtheChinaSecuritiesDepository&ClearingCorporationShanghaiBranch,thenumberof'TuopuBonds'beingredeemedis97,090,withatotalredemptionpaymentamountingtoRMB9,747,790.52(inclusiveofcurrentinterest),scheduledforpaymentonMarch14,2025,whichcoincideswiththeissuancedate.Followingtheearlyredemptionofthe'TuopuConvertibleBonds',thecompany'stotalsharecapitalwillriseto1,737,835,580shares.EffectiveMarch14,2025,the'TuopuConvertibleBonds'willberemovedfromtheShanghaiStockExchange.
Section10FinancialReport
I.Auditreport
√Applicable□Non-applicable
AuditReport
XinKuaiShiBaoZi[2025]No.ZF10448TotheshareholdersofNingboTuopuGroupCo.,Ltd:
I.OpinionWehaveauditedthefinancialstatementsofNingboTuopuGroupCo.,Ltd.(hereinafterreferredtoas“TuopuGroup”),includingtheparentcompany'sandtheconsolidatedbalancesheetdatedDecember31,2024,theparentcompany'sandtheconsolidatedincomestatement,theparentcompany'sandtheconsolidatedcashflowstatementandtheparentcompany'sandtheconsolidatedstatementofchangesinowners'equityfortheyear2024ended,aswellasthenotestorelevantfinancialstatements.
Inouropinion,theattachedfinancialstatementsareprepared,inallmaterialrespects,inaccordancewith“AccountingStandardsforBusinessEnterprises”,whichfairlyreflectedtheconsolidatedandtheparentcompany’sfinancialpositionofNingboTuopuGroupCo.,Ltd.asatDecember31,2024andtheconsolidatedandtheparentcompany’soperatingresultsandcashflowsfortheyear2024ended.
II.BasisforOurOpinion
WeconductedourauditinaccordancewiththeAuditingStandardsforCertifiedPublicAccountantsinChina.OurresponsibilitiesunderthosestandardsarefurtherdescribedintheCPA'sResponsibilitiesfortheAuditoftheFinancialStatementssectionofourreport.Accordingtothe“CodeofEthicsforChineseCertifiedPublicAccountants”,weareindependentofTuopuandhavefulfilledourotherethicalresponsibilitiesinaccordancewiththeCode.Webelievethattheauditevidencewehaveobtainedissufficientandappropriatetoprovideabasisforourauditopinions.
III.KeyAuditMatters
Keyauditmattersarethosemattersthat,inourprofessionaljudgment,wereofmostsignificanceinourauditofthefinancialstatementsofthecurrentperiod.Thesematterswereaddressedinthecontextofourauditofthefinancialstatementsasawhole,andinformingouropinionthereon,andwedonotprovideaseparateopiniononthesematters.
Thekeyauditmattersidentifiedduringtheauditaresummarizedasfollows:
| KeyAuditMatters | Howthematterwasaddressedintheaudit |
| (1)Recognitionofrevenue | |
| MoredetailsabouttheaccountingpoliciesforrevenuerecognitionandtheanalysisofrevenueareavailableintheaccountingpoliciesasreferredtoinNote(25)of“III.SignificantAccountingPoliciesandAccountingEstimates"andNote(40)of“V.NotestoItemsoftheConsolidatedFinancialStatements”.In2024,TuopuGroup’sincomefrommainbusinessoperationsisRMB25,011,816,200.BecauserevenueisoneofthekeyperformanceindexesofTuopuGroup,thereisaninherentriskofmanagementmanipulatingthetimepointofrevenuerecognitioninordertoachievespecificgoalsorexpectations.Inthisregard,we | Ourmainauditproceduresfortheabovekeyauditmattersrelatedtorecognitionofrevenueareasdescribedbelow:1.Understandtheinternalcontrolsysteminrelationtorevenuerecognitionandthedesignandimplementationofthefinancialaccountingsystem,andtesttheeffectivenessofitsoperation;2.WeunderstandandevaluatewhethertherevenuerecognitionpolicyoftheCompanyisappropriateornotbyreviewingsalescontractsandinterviewswithmanagement;3.Performananalyticalreviewofrevenueandgrossprofitbasedonproducttypesandcustomertypes,anddeterminewhetherthereareabnormalfluctuationsintheamountofrevenueduringthecurrentperiod;4.Classifysalesregions,selectsamplesfromtheincometransactionsasrecordedinrespectofthisyear,checkinvoices,salescontracts,deliveryorders,customsdeclarationforms,B/Lsandothersupportingdocuments,andevaluatewhethertherelevantrevenuerecognitioncomplieswiththerevenuerecognitionaccountingpoliciesoftheCompany;5.Conductcut-offtestontheoperatingincomerecognized |
| regardTuopuGroup'srevenuerecognitionasakeyauditmatter. | beforeandafterthebalancesheetdateinordertoevaluatewhethertheoperatingincomeisrecognizedintheappropriateperiod;6.Makeexternalconfirmationoftheaccountreceivablebalanceandsalesofmajorcustomers,andconfirmwhethertheaccountreceivablebalanceattheendoftheperiodandthecurrentincomeamountaretrueandaccurate;7.Checkiftheinformationrelatedtorevenuehasbeenproperlypresentedanddisclosedinthefinancialstatements. |
| (2)Impairmentofgoodwill | |
| ThedetailsandanalysisoftheaccountingpoliciesforimpairmentofgoodwillareavailableintheaccountingpoliciesasreferredtoinNote(20)of“III.SignificantAccountingPoliciesandAccountingEstimates"andNote(16)of“V.NotestoItemsoftheConsolidatedFinancialStatements”.AsofDecember31,2024,theoriginalbookvalueofTuopuGroup'sgoodwillisRMB287,349,900andtheamountofprovisionforimpairmentisRMB85,247,200.Themanagementconductsanimpairmenttestonthegoodwillformedbythebusinesscombinationattheendofeachyear.Theresultoftheimpairmenttestofgoodwillisfixedbytheestimationreportofrelevantassetgrouprecoverablevalueaspreparedbythemanagement.Therecoverableamountoftherelevantassetgroupiscalculatedandfixedbythepresentvalueoftheestimatedfuturecashflow.Thediscountedcashflowforecastsarepreparedbyusingmajorjudgmentsandestimates,especiallydeterminingthegrowthrateduringtheforecastperiod,perpetualgrowthrate,grossprofitmargin,discountrate.Sincetheprocessofgoodwillimpairmenttestisverycomplex,whichrelatestosignificantmanagementestimatesandjudgments,weregardtheimpairmentofgoodwillasakeyauditmatter. | Ourmainauditproceduresinrespectoftheabovekeyauditmattersrelatedtotheimpairmentofgoodwillareasfollows:1.Weevaluateandtesttheeffectivenessofthedesignandimplementationofinternalcontrolsrelatedtothegoodwillimpairmenttest,includingtheadoptionofkeyassumptionsandthereviewandapprovaloftheamountofimpairmentprovision;2.Referringtoindustrypractices,assesstheappropriatenessofthevaluationmethodusedbythemanagementforcashflowforecasts;3.Comparingkeyinputvaluessuchasrevenuegrowthrate,perpetualgrowthrateandcostincreasewithpastperformance,performprudentevaluationonthekeyassumptionsandjudgmentsusedinpreparingdiscountedcashflowforecasts;4.Discusswiththemanagementandothersaboutthereasonablenessofthemethodsusedintheprocessofgoodwillimpairmenttest,theassumptionsofkeyassessments,theselectionofparameters,theforecastoffutureincomeandthediscountrateofcashflow;5.Conductaretrospectivereviewbycomparingtheforecastofthepreviousyearwiththeperformanceofthisyeartoassessthereliabilityandhistoricalaccuracyofthemanagement'sforecastingprocess;6.Evaluatethecompetence,professionalismandobjectivityofthespecialistsappointedbythemanagement,andreachaconsensusonthecontentoftheirworks;7.Checkiftheinformationrelatedtogoodwillimpairmenthasbeenproperlypresentedanddisclosedinthefinancialstatements. |
IV.OtherInformationThemanagementofTuopuGroup(hereinafterreferredtoastheManagement)isresponsiblefortheotherinformation.TheotherinformationincludestheinformationcoveredinTuopu’sannualreportfortheyear2022ended,otherthanthefinancialstatementsandourauditreport.Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationandwedonotandwillnotexpressanyformofassuranceconclusionthereon.
Incombinationwithourauditofthefinancialstatements,ourresponsibilityistoreadtheotherinformationand,indoingso,considerwhethertheotherinformationismateriallyinconsistentwiththefinancialstatementsorourknowledgeobtainedintheaudit,orotherwiseappearstobemateriallymisstated.If,basedontheworkwehaveperformed,weconcludethatthereisamaterialmisstatementofthisotherinformation,wearerequiredtoreportthatfact.Wehavenothingtoreportinthisregard.
V.ResponsibilitiesofManagementandThoseChargedwithGovernanceforthe
FinancialStatements
TheManagementisresponsibleforpreparingthefinancialstatementsinaccordancewiththerequirementsofAccountingStandardsforBusinessEnterprisestoachieveafairpresentation,andfordesigning,implementingandmaintainingnecessaryinternalcontroltoensurethatthefinancialstatementsarefreefrommaterialmisstatements,whetherduetofraudsorerrors.
Inpreparingthefinancialstatements,theManagementisresponsibleforassessingTuopu’sabilitytocontinueoperating,disclosingmattersrelatedtocontinuousoperation(ifapplicable)andusingthehypothesisofcontinuousoperationunlessthereisaplantoliquidate,terminateoperationsornootherrealisticoptions.
ThemanagementisresponsibleforsupervisingthefinancialreportingprocessofTuopu.
VI.CPA'sResponsibilitiesfortheAuditoftheFinancialStatements
Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholearefreefrommaterialmisstatement,whetherduetofraudorerror,andtoissueanauditreportthatincludesouropinion.Reasonableassuranceisahighlevelofassurance,butisnotaguaranteethatanauditconductedinaccordancewiththeauditstandardswillalwaysdetectamaterialmisstatementwhenitexists.Misstatementscanarisefromfraudorerrorandareconsideredmaterialif,individuallyorintheaggregate,theycouldreasonablybeexpectedtoinfluencetheeconomicdecisionsofusersmadeonthebasisofthesefinancialstatements.
Aspartofanauditinaccordancewiththeauditstandards,weexerciseprofessionaljudgmentandmaintainprofessionalskepticismthroughouttheaudit.Wealso:
(1)Identifyandassesstherisksofmaterialmisstatementofthefinancialstatements,whetherduetofraudorerror,designandperformauditproceduresresponsivetothoserisks,andobtainauditevidencethatissufficientandappropriatetoprovideabasisforouropinion.Theriskofnotdetectingamaterialmisstatementresultingfromfraudishigherthanoneresultingfromerror,asfraudmayinvolvecollusion,forgery,intentionalomissions,misrepresentations,ortheoverrideofinternalcontrol.
(2)Obtainanunderstandingofinternalcontrolrelevanttotheauditinordertodesignappropriateauditprocedures,butnotforthepurposeofexpressinganopinionontheeffectivenessoftheCompany'sinternalcontrol.
(3)EvaluatetheappropriatenessofaccountingpoliciesusedandthereasonablenessofaccountingestimatesandrelateddisclosuresmadebytheManagement.
(4)ConcludeontheappropriatenessofusingthegoingconcernassumptionbytheManagement.Atthesametime,drawaconclusion,basedontheauditevidenceobtained,onwhetherthereissignificantuncertaintyinmattersorsituationsthatmaycausemajordoubtsaboutTuopu'sabilityincontinuousoperation.Ifweconcludethatamaterialuncertaintyexists,wearerequiredtodrawattentioninourauditreporttotherelateddisclosuresinthefinancialstatementsor,ifsuchdisclosuresareinadequate,tomodifyouropinion.Ourconclusionsarebasedontheinformationavailableuptothedateofourauditreport.However,futureeventsorconditionsmayresultinTuopu'sinabilitytocontinueoperating.
(5)Evaluatetheoverallpresentation(includingthedisclosures),structureandcontentofthefinancialstatements,andwhetherthefinancialstatementsfairlyreflecttherelevanttransactionsandevents.
(6)ObtainsufficientandappropriateauditevidenceregardingthefinancialinformationoftheentitiesorbusinessactivitieswithinTuoputoexpressanopiniononthefinancialstatements.Weareresponsibleforguiding,supervisingandimplementingthegroupaudit,andremainsolelyresponsibleforourauditopinion.
Wehavecommunicatedwiththosechargedwithgovernanceonsuchmattersasthescopeofauditasplanned,thescheduleandmaterialauditfindings,includingthedefectsintheinternalcontrolthatareworthpayingattentiontofoundinthisaudit.
Wehavealsoprovidedthosechargedwithgovernancewithastatementonobservingtheprofessionalethicsrelatedtoindependence,andcommunicatedwiththosechargedwithgovernanceonalltherelationshipsandothermattersthatmightbereasonablydeemedtoaffectourindependence,andrelevantpreventativemeasures(ifapplicable).
Fromthematterscommunicatedwiththosechargedwithgovernance,wedeterminethosemattersthatwereofmostsignificanceintheauditofthefinancialstatementsofthecurrentperiodandarethereforethekeyauditmatters.Wedescribethesemattersinourauditreportunlesslaworregulationprecludespublicdisclosureaboutthematterorwhen,inextremelyrarecircumstances,wedeterminethatamattershouldnotbecommunicatedinourreportbecausetheadverseconsequencesofdoingsowouldreasonablybeexpectedtooutweighthepublicinterestbenefitsofsuchcommunication.
| BDOChinaShuLunPanCertifiedPublicAccountantsLLP(SpecialGeneralPartnership)Shanghai,China | ChineseCPA:YuWeiying(ProjectPartner)ChineseCPA:TangWeiDate:April22,2025 |
II.FinancialStatements
ConsolidatedBalanceSheetAsof31December2024Preparedby:NingboTuopuGroupCo.,Ltd.
Unit:YuanCurrency:RMB
| Item | Note | 31December2024 | 31December2023 |
| Currentassets: | |||
| CashandBankBalances | VII.1 | 3,987,765,850.28 | 2,855,366,991.27 |
| DepositReservationforBalance | |||
| LoanstoBanksandOtherFinancialInstitutions | |||
| TradingFinancialAssets | VII.2 | 1,050,000,000.00 | 300,872,066.52 |
| DerivativeFinancialAssets | |||
| Notesreceivable | VII.4 | 24,667,150.00 | 554,030,607.88 |
| Accountsreceivable | VII.5 | 6,425,588,731.75 | 5,006,715,161.67 |
| ReceivablesFinancing | VII.7 | 2,659,789,309.01 | 1,039,933,314.87 |
| Prepayments | VII.8 | 167,363,593.66 | 116,414,223.74 |
| PremiumReceivable | |||
| ReinsuranceAccountsReceivable | |||
| ReinsuranceContractReservesReceivable | |||
| OtherReceivables | VII.9 | 80,413,358.88 | 89,762,378.31 |
| Including:interestreceivable | |||
| DividendsReceivable | |||
| BuyingBacktheSaleofFinancialAssets | |||
| Inventory | VII.10 | 4,000,058,158.99 | 3,244,841,805.11 |
| Including:dataresources | |||
| ContractAssets | |||
| Holdingfor-saleassets | |||
| Non-currentAssetsDuewithin1Year | |||
| OtherCurrentAssets | VII.13 | 287,567,653.75 | 283,924,859.25 |
| SubtotalofCurrentAssets | 18,683,213,806.32 | 13,491,861,408.62 | |
| Non-currentAssets: | |||
| Grantingofloansandadvances | |||
| InvestmentinCreditor'sRights | |||
| InvestmentinOtherCreditor'sRights | |||
| Long-termReceivables | |||
| Long-termEquityInvestment | VII.17 | 96,732,684.19 | 139,641,447.46 |
| InvestmentinOtherEquityInstruments | |||
| OtherNon-currentFinancialAssets | |||
| InvestmentProperty | VII.20 | 20,832,087.25 | 22,979,091.55 |
| FixedAssets | VII.21 | 13,684,596,301.61 | 11,518,327,615.38 |
| ProjectsunderConstruction | VII.22 | 2,284,619,095.64 | 2,999,617,867.21 |
| ProductiveBiologicalAssets | |||
| Oilandgasassets | |||
| Right-of-useAssets | VII.25 | 534,259,860.28 | 340,623,222.02 |
| IntangibleAssets | VII.26 | 1,369,518,780.91 | 1,390,141,202.49 |
| Including:dataresources | |||
| DevelopmentExpenditure | |||
| Including:dataresources | |||
| Goodwill | VII.27 | 202,102,686.43 | 203,183,057.72 |
| Long-termunamortizedexpenses | VII.28 | 209,595,476.57 | 169,098,529.79 |
| DeferredIncomeTaxAssets | VII.29 | 239,126,561.54 | 202,239,458.82 |
| OtherNon-currentAssets | VII.30 | 219,274,564.68 | 292,058,305.82 |
| TotalNon-currentAssets | 18,860,658,099.10 | 17,277,909,798.26 | |
| TotalAssets | 37,543,871,905.42 | 30,769,771,206.88 | |
| CurrentLiabilities: | |||
| Short-termloan | VII.32 | 930,632,816.92 | 999,798,705.09 |
| BorrowingsfromtheCentralBank | |||
| BorrowingsfromBanksandOtherFinancialInstitutions | |||
| Transactionalfinancialliabilities | |||
| DerivativeFinancialLiabilities | |||
| NotesPayable | VII.35 | 3,198,453,321.20 | 2,855,691,274.58 |
| AccountsPayable | VII.36 | 6,140,245,146.25 | 5,407,037,561.30 |
| ReceivedPrepayments | |||
| Contractliabilities | VII.38 | 24,262,437.81 | 20,090,277.73 |
| FinancialAssetsSoldforRepurchase | |||
| DepositTakingandInterbankDeposit | |||
| ReceivingfromVicariouslyTradedSecurities | |||
| ReceivingfromVicariouslySoldSecurities | |||
| Payrollpayable | VII.39 | 391,032,354.37 | 353,499,479.48 |
| TaxPayable | VII.40 | 325,243,378.19 | 271,156,762.61 |
| OtherPayables | VII.41 | 22,158,931.54 | 24,690,743.41 |
| Including:interestpayable | |||
| DividendsPayable | |||
| ServiceChargeandCommissionPayable | |||
| ReinsuranceAccountsPayable | |||
| Holdingfor-saleliabilities | |||
| Non-currentLiabilitiesDuewithin1Year | VII.43 | 2,004,964,391.44 | 1,290,220,025.19 |
| OtherCurrentLiabilities | VII.44 | 1,540,946.15 | 1,690,671.66 |
| SubtotalofCurrentLiabilities | 11,223,875,501.05 | 9,620,651,340.69 | |
| Non-currentLiabilities: | |||
| InsuranceContractReserves | |||
| Long-termloan | VII.45 | 1,448,871,389.82 | 2,506,123,957.26 |
| BondsPayable | VII.46 | 2,513,474,488.62 | 2,436,329,229.37 |
| Including:PreferredStocks | |||
| PerpetualBonds | |||
| LeaseLiabilities | VII.47 | 486,054,607.63 | 298,078,535.61 |
| Long-termPayables | |||
| Long-termpayrollpayable | |||
| ExpectedLiabilities | |||
| DeferredIncome | VII.51 | 408,021,000.71 | 424,223,057.18 |
| DeferredIncomeTaxLiabilities | VII.29 | 65,663,219.31 | 66,838,020.68 |
| OtherNon-currentLiabilities | |||
| TotalNon-currentLiabilities | 4,922,084,706.09 | 5,731,592,800.10 | |
| TotalLiabilities | 17,960,618,429.96 | 16,955,468,301.15 | |
| Owners’Equity(orShareholders'Equity): | |||
| Paid-incapital(orshareCapital) | VII.53 | 1,686,025,655.00 | 1,102,049,773.00 |
| OtherEquityInstruments | VII.54 | 143,199,396.33 | 143,201,172.16 |
| Including:PreferredStocks | |||
| PerpetualBonds | |||
| CapitalReserves | VII.55 | 8,255,524,193.88 | 5,341,029,541.42 |
| Less:TreasuryShare | |||
| OtherComprehensiveIncomes | VII.57 | -93,966,397.00 | -7,279,431.39 |
| SpecialReserves | |||
| SurplusReserves | VII.59 | 822,049,459.12 | 706,943,994.98 |
| GeneralRiskReserves | |||
| UndistributedProfits | VII.60 | 8,737,431,642.33 | 6,498,434,550.76 |
| TotalShareholders'EquityAttributabletotheParentCompany | 19,550,263,949.66 | 13,784,379,600.93 | |
| MinorityShareholders'Equity | 32,989,525.80 | 29,923,304.80 | |
| TotalShareholders'Equity | 19,583,253,475.46 | 13,814,302,905.73 | |
| TotalLiabilitiesandShareholders'Equity | 37,543,871,905.42 | 30,769,771,206.88 | |
LegalRepresentative:WuJianshuAccountingWorkOfficer:HongTieyangAccountingInstitutionOfficer:HongTieyang
BalanceSheetoftheParentCompany
Asof31December2024Preparedby:NingboTuopuGroupCo.,Ltd.
Unit:YuanCurrency:RMB
| Item | Note | 31December2024 | 31December2023 |
| CurrentAssets: | |||
| CashandBankBalances | 1,507,017,750.23 | 618,675,203.54 | |
| TradingFinancialAssets | 1,050,000,000.00 | 300,000,000.00 | |
| DerivativeFinancialAssets | |||
| Notesreceivable | |||
| Accountsreceivable | XIX.1 | 2,689,653,147.30 | 1,991,981,167.80 |
| ReceivablesFinancing | 231,979.76 | 6,020,517.09 | |
| Prepayments | 22,107,364.37 | 19,523,355.44 | |
| OtherReceivables | XIX.2 | 149,728,635.35 | 338,124,520.82 |
| Including:interestreceivable | |||
| DividendsReceivable | |||
| Inventory | 788,510,587.70 | 748,720,435.55 | |
| Including:dataresources | |||
| ContractAssets | |||
| Holdingfor-saleassets | |||
| Non-currentAssetsDuewithin1Year | |||
| OtherCurrentAssets | |||
| SubtotalofCurrentAssets | 6,207,249,464.71 | 4,023,045,200.24 | |
| Non-currentAssets: | |||
| InvestmentinCreditor'sRights | |||
| InvestmentinOtherCreditor'sRights | |||
| Long-termReceivables | |||
| Long-termEquityInvestment | XIX.3 | 15,294,612,477.05 | 12,525,007,982.83 |
| InvestmentinOtherEquityInstruments | |||
| OtherNon-currentFinancialAssets | |||
| InvestmentProperty | 20,832,087.25 | 22,979,091.55 | |
| FixedAssets | 2,436,646,584.65 | 2,437,105,520.81 | |
| ProjectsunderConstruction | 206,685,505.34 | 238,684,855.76 | |
| ProductiveBiologicalAssets | |||
| Oilandgasassets | |||
| Right-of-useAssets | |||
| IntangibleAssets | 290,277,281.84 | 290,479,090.94 | |
| Including:dataresources | |||
| DevelopmentExpenditure | |||
| Including:dataresources | |||
| Goodwill | |||
| Long-termunamortizedexpenses | 26,094,679.16 | 23,705,229.33 | |
| DeferredIncomeTaxAssets | |||
| OtherNon-currentAssets | 42,225,516.29 | 47,858,801.24 | |
| TotalNon-currentAssets | 18,317,374,131.58 | 15,585,820,572.46 | |
| TotalAssets | 24,524,623,596.29 | 19,608,865,772.70 | |
| CurrentLiabilities: | |||
| Short-termloan | 830,559,900.03 | 599,470,362.78 | |
| Transactionalfinancialliabilities | |||
| DerivativeFinancialLiabilities | |||
| NotesPayable | 760,519,054.46 | 575,433,154.97 | |
| AccountsPayable | 2,173,951,573.06 | 1,663,426,306.15 | |
| ReceivedPrepayments | |||
| Contractliabilities | 1,243,052.15 | 1,605,274.16 | |
| Payrollpayable | 135,586,062.44 | 116,634,952.50 | |
| TaxPayable | 94,979,698.50 | 81,172,711.50 | |
| OtherPayables | 6,487,199.73 | 6,018,884.90 | |
| Including:interestpayable | |||
| DividendsPayable | |||
| Holdingfor-saleliabilities | |||
| Non-currentLiabilitiesDuewithin1Year | 1,425,054,751.80 | 746,896,254.40 | |
| OtherCurrentLiabilities | 161,596.78 | 208,685.64 | |
| SubtotalofCurrentLiabilities | 5,428,542,888.95 | 3,790,866,587.00 | |
| Non-currentLiabilities: | |||
| Long-termloan | 1,197,500,000.00 | 1,970,000,000.00 | |
| BondsPayable | 2,513,474,488.62 | 2,436,329,229.37 | |
| Including:PreferredStocks | |||
| PerpetualBonds | |||
| LeaseLiabilities | |||
| Long-termPayables | |||
| Long-termpayrollpayable | |||
| ExpectedLiabilities | |||
| DeferredIncome | 106,395,921.90 | 117,125,221.06 | |
| DeferredIncomeTaxLiabilities | 924,146.40 | 19,778,558.30 | |
| OtherNon-currentLiabilities | |||
| SubtotalofNon-currentLiabilities | 3,818,294,556.92 | 4,543,233,008.73 | |
| TotalLiabilities | 9,246,837,445.87 | 8,334,099,595.73 | |
| Owners’Equity(orShareholders'Equity): | |||
| Paid-inCapital(orShareCapital) | 1,686,025,655.00 | 1,102,049,773.00 | |
| OtherEquityInstruments | 143,199,396.33 | 143,201,172.16 | |
| Including:PreferredStocks | |||
| PerpetualBonds | |||
| CapitalReserves | 8,255,524,193.88 | 5,341,029,541.42 | |
| Less:TreasuryShare | |||
| OtherComprehensiveIncomes | |||
| SpecialReserves | |||
| SurplusReserves | 822,049,459.12 | 706,943,994.98 | |
| UndistributedProfits | 4,370,987,446.09 | 3,981,541,695.41 | |
| TotalOwners’Equity(orShareholders'Equity) | 15,277,786,150.42 | 11,274,766,176.97 | |
| TotalLiabilitiesandOwners’Equity(orShareholders'Equity) | 24,524,623,596.29 | 19,608,865,772.70 | |
LegalRepresentative:WuJianshuAccountingWorkOfficer:HongTieyangAccountingInstitutionOfficer:HongTieyang
ConsolidatedIncomeStatementForthePeriodfromJanuary2024toDecember2024
Unit:YuanCurrency:RMB
| Item | Note | 2024 | 2023 |
| I.TotalOperatingRevenue | 26,600,328,450.94 | 19,700,560,430.00 | |
| Including:OperatingRevenue | VII.61 | 26,600,328,450.94 | 19,700,560,430.00 |
| InterestIncome | |||
| EarnedPremiums | |||
| ServiceChargeandCommissionIncome | |||
| II.TotalOperatingCost | 23,534,876,960.27 | 17,185,938,637.55 | |
| Including:OperatingCost | VII.61 | 21,066,746,134.44 | 15,189,359,712.02 |
| InterestExpenditures | |||
| ServiceChargeandCommissionExpenses | |||
| SurrenderValue | |||
| NetClaimsPaid | |||
| NetAmountofWithdrawnReserveforInsuranceLiabilityContract | |||
| PolicyholderDividendExpense | |||
| ReinsuranceCost | |||
| TaxesandSurcharges | VII.62 | 183,296,384.76 | 148,123,816.92 |
| SalesExpenses | VII.63 | 274,039,830.25 | 232,582,825.17 |
| Administrationexpenses | VII.64 | 620,867,938.38 | 543,720,741.04 |
| Researchanddevelopmentexpense | VII.65 | 1,224,242,543.46 | 986,403,005.39 |
| FinancialExpenses | VII.66 | 165,684,128.98 | 85,748,537.01 |
| Including:interestexpenses | 237,972,888.20 | 228,089,328.18 | |
| InterestIncome | 48,350,722.43 | 46,324,974.29 | |
| Add:Otherincome | VII.67 | 407,860,226.79 | 219,278,730.12 |
| InvestmentIncome(Mark"-"forLoss) | VII.68 | 84,364,589.22 | 3,969,018.78 |
| Including:InvestmentIncomefromAffiliatesandJointVentures | 45,857,248.62 | -2,063,278.75 | |
| ProfitsfromderecognitionofFinancialAssetsatAmortizedCost | |||
| ExchangeGains(Mark"-"forLosses) | |||
| ProfitofNetExposureHedging(Mark"-"forLoss) | |||
| Incomesfromchangesinfairvalue(lossesmarkedwith"-") | VII.70 | 1,018,222.92 | -82,821.96 |
| CreditImpairmentLosses(Mark"-"forLoss) | VII.71 | -79,776,922.89 | -196,691,064.38 |
| AssetImpairmentLosses(Mark"-"forLoss) | VII.72 | -59,338,979.48 | -71,460,814.51 |
| AssetDisposalIncome(Mark"-"forLoss) | VII.73 | 389,596.49 | 6,635,932.50 |
| III.OperatingProfit(Mark"-"forLoss) | 3,419,968,223.72 | 2,476,270,773.00 |
| Add:Non-operatingRevenues | VII.74 | 26,452,409.16 | 4,102,935.73 |
| Less:Non-operatingExpenses | VII.75 | 25,161,191.02 | 18,083,984.41 |
| IV.TotalProfit(Mark"-"forTotalLoss) | 3,421,259,441.86 | 2,462,289,724.32 | |
| Less:IncomeTaxExpense | VII.76 | 417,572,835.57 | 312,273,518.56 |
| V.NetProfit(Mark"-"forNetLoss) | 3,003,686,606.29 | 2,150,016,205.76 | |
| (1)Classifiedbyoperationcontinuity | |||
| 1.NetProfitasaGoingConcern(Mark"-"forNetLoss) | 3,003,686,606.29 | 2,150,016,205.76 | |
| 2.NetProfitofDiscontinuedOperation(Mark"-"forNetLoss) | |||
| (2).Classifiedbytheattributionofownership | |||
| 1.NetProfitAttributabletoShareholdersofParentCompany | 3,000,605,982.24 | 2,150,642,258.47 | |
| 2.MinorityShareholders'ProfitandLoss | 3,080,624.05 | -626,052.71 | |
| VI.NetAmountofOtherComprehensiveIncomesafterTax | -86,701,368.66 | 14,088,956.94 | |
| (1)NetAmountofOtherComprehensiveIncomesafterTaxAttributabletotheParentCompany'sOwner | -86,686,965.61 | 14,064,400.47 | |
| 1,OthercomprehensiveincomethatcannotbereclassifiedasP/L | |||
| (1)Re-measurethevariationofthedefinedbenefitplan | |||
| (2)OthercomprehensiveincomethatcannotbetransferredtoP/Lundertheequitymethod | |||
| (3)Changesinthefairvalueofinvestmentinotherequityinstruments | |||
| (4)Changesinthefairvalueofthecreditriskoftheenterprise | |||
| 2.OthercomprehensiveincomethatwillbereclassifiedasP/L | -86,686,965.61 | 14,064,400.47 | |
| (1)OthercomprehensiveincomethatcanbetransferredtoP/Lundertheequitymethod | |||
| (2)Changesinthefairvalueofinvestmentinothercreditor'srights | |||
| (3)Financialassetsreclassifiedintoothercomprehensiveincome | |||
| (4)Provisionsforthecreditimpairmentofinvestmentinothercreditor'srights | |||
| (5)Cashflowhedgereserves | |||
| (6)Currencytranslationdifference | -86,686,965.61 | 14,064,400.47 | |
| (7)Others | |||
| (2)NetAmountofOtherComprehensiveIncomesAfterTaxAttributabletoMinorityShareholders | -14,403.05 | 24,556.47 | |
| VII.TotalComprehensiveIncome | 2,916,985,237.63 | 2,164,105,162.70 | |
| (1)TotalComprehensiveIncomeAttributabletotheParentCompany'sOwner | 2,913,919,016.63 | 2,164,706,658.94 | |
| (2)TotalComprehensiveIncome | 3,066,221.00 | -601,496.24 | |
| AttributabletoMinorityShareholders | |||
| VIII.EarningsperShare: | |||
| (1)BasicEarningsperShare(yuanpershare) | 1.79 | 1.35 | |
| (2)DilutedEarningsperShare(yuanpershare) | 1.78 | 1.35 | |
Ifthereisabusinesscombinationunderthesamecontrolinthecurrentperiod,thenetprofitearnedbythecombinedpartybeforethecombinationis:RMB0,andthenetprofitearnedbythecombinedpartyinthepreviousperiodis:RMB0.LegalRepresentative:WuJianshuAccountingWorkOfficer:HongTieyangAccountingInstitutionOfficer:HongTieyang
IncomeStatementoftheParentCompanyForthePeriodfromJanuary2024toDecember2024
Unit:YuanCurrency:RMB
| Item | Note | 2024 | 2023 |
| I.OperatingRevenue | XIX.4 | 8,578,196,865.49 | 7,358,313,567.96 |
| Less:OperatingCost | XIX.4 | 6,468,686,480.16 | 5,625,354,690.49 |
| TaxesandSurcharges | 57,332,196.28 | 51,014,241.28 | |
| SalesExpenses | 2,401,883.32 | 46,825.47 | |
| Administrationexpenses | 243,766,062.32 | 200,480,878.28 | |
| Researchanddevelopmentexpense | 627,087,078.54 | 591,964,067.53 | |
| FinancialExpenses | 152,189,956.78 | 158,399,513.24 | |
| Including:interestexpenses | 176,913,648.32 | 191,588,472.08 | |
| InterestIncome | 34,788,229.62 | 25,187,946.12 | |
| Add:Otherincome | 216,230,803.37 | 120,968,043.79 | |
| InvestmentIncome(Mark"-"forLoss) | XIX.5 | 84,298,500.24 | 3,969,018.78 |
| Including:InvestmentIncomefromAffiliatesandJointVentures | 45,857,248.62 | -2,063,278.75 | |
| ProfitsfromDerecognitionofFinancialAssetsatAmortizedCost | |||
| ProfitofNetExposureHedging(lossin"-") | |||
| Incomesfromchangesinfairvalue(lossin"-") | |||
| CreditImpairmentLosses(lossin"-") | -53,729,920.45 | -28,586,731.03 | |
| AssetImpairmentLosses(lossin"-") | -15,652,482.39 | -29,964,582.04 | |
| AssetDisposalIncome(lossin"-") | -316,176.79 | 7,080,096.04 | |
| II.OperatingProfit(lossin"-") | 1,257,563,932.07 | 804,519,197.21 | |
| Add:Non-operatingRevenues | 1,659,822.93 | 543,752.23 | |
| Less:Non-operatingExpenses | 3,555,750.22 | 3,155,249.75 | |
| III.TotalProfit(totallossin“-“) | 1,255,668,004.78 | 801,907,699.69 | |
| Less:IncomeTaxExpense | 104,613,363.43 | 47,316,819.33 | |
| IV.NetProfit(MarkforNetLoss) | 1,151,054,641.35 | 754,590,880.36 | |
| (I)NetProfitasaGoingConcern(netlossin“-“) | 1,151,054,641.35 | 754,590,880.36 | |
| (II)NetProfitofDiscontinued |
| Operation(netlossin“-“) | |||
| V.NetAmountofOtherComprehensiveIncomesAfterTax | |||
| (1)OthercomprehensiveincomethatcannotbereclassifiedasP/L | |||
| 1.Re-measurethevariationofthedefinedbenefitplan | |||
| 2.OthercomprehensiveincomethatcannotbetransferredtoP/Lundertheequitymethod | |||
| 3.Changesinthefairvalueofinvestmentinotherequityinstruments | |||
| 4.Changesinthefairvalueofthecreditriskoftheenterprise | |||
| (2)OthercomprehensiveincomethatwillbereclassifiedasP/L | |||
| 1.OthercomprehensiveincomethatcanbetransferredtoP/Lundertheequitymethod | |||
| 2.Changesinthefairvalueofinvestmentinothercreditor'srights | |||
| 3.Financialassetsreclassifiedintoothercomprehensiveincome | |||
| 4.Provisionsforthecreditimpairmentofinvestmentinothercreditor'srights | |||
| 5.Cashflowhedgereserves | |||
| 6.Currencytranslationdifference | |||
| 7.Others | |||
| VI.TotalComprehensiveIncome | 1,151,054,641.35 | 754,590,880.36 | |
| VII.EarningsperShare: | |||
| (I)BasicEarningsperShare(yuanpershare) | 0.68 | 0.47 | |
| (II)DilutedEarningsperShare(yuanpershare) | 0.68 | 0.47 | |
LegalRepresentative:WuJianshuAccountingWorkOfficer:HongTieyangAccountingInstitutionOfficer:HongTieyang
ConsolidatedCashFlowStatementForthePeriodfromJanuary2024toDecember2024
Unit:YuanCurrency:RMB
| Item | Note | 2024 | 2023 |
| I.CashFlowGeneratedbyOperationalActivities: | |||
| CashfromSalesofMerchandiseandProvisionofServices | 21,796,575,291.59 | 19,971,831,263.03 | |
| NetIncreaseinCustomer'sBankDepositsandInterbankDeposits | |||
| NetIncreaseinBorrowingsfromtheCentralBank | |||
| NetIncreaseinBorrowingsfromOtherFinancialInstitutions | |||
| CashArisingfromReceivingPremiumsfortheOriginalInsuranceContract | |||
| NetAmountArisingfromReinsuranceBusiness | |||
| NetIncreaseinDepositsandInvestmentsfromPolicyholders | |||
| CashArisingfromInterests,ServiceChargesandCommissions | |||
| NetIncreaseinBorrowingsfromBanksandOtherFinancialInstitutions | |||
| NetIncreaseinRepurchaseBusinessFunds | |||
| NetAmountofCashReceivedfromtheVicariouslyTradedSecurities | |||
| TaxRefund | 879,005,733.81 | 785,940,216.35 | |
| OtherReceivedCashesRelatedtoOperationalActivities | VII.78 | 320,326,198.10 | 316,295,492.22 |
| Subtotalofcashinflowfromoperationalactivities | 22,995,907,223.50 | 21,074,066,971.60 | |
| CashPaidforMerchandiseandServices | 14,586,196,696.76 | 13,456,143,984.77 | |
| NetIncreaseinLoansandAdvancestoCustomers | |||
| NetIncreaseinDepositswithCentralBankandOtherFinancialInstitutions | |||
| CashPaidforOriginalInsuranceContractClaims | |||
| Netincreaseoffundslent | |||
| CashPaidforInterests,ServiceChargesandCommissions | |||
| CashPaidforPolicyDividends | |||
| CashPaidtoandforEmployees | 3,005,361,418.06 | 2,343,276,069.26 | |
| CashPaidforTaxesandSurcharges | 1,215,483,907.21 | 1,087,471,879.85 | |
| OtherPaidCashesRelatedtoOperationalActivities | VII.78 | 952,796,514.63 | 821,545,760.98 |
| Subtotalofcashoutflowfromoperationalactivities | 19,759,838,536.66 | 17,708,437,694.86 | |
| Netcashflowgeneratedbyoperatingactivities | 3,236,068,686.84 | 3,365,629,276.74 | |
| II.CashFlowfromInvestmentActivities: | |||
| CashArisingfromDisposalofInvestments | 3,785,397,630.04 | 1,016,032,297.53 | |
| CashArisingfromInvestmentIncomes | 50,000,000.00 | ||
| NetCashArisingfromDisposalofFixedAssets,IntangibleAssetsandOtherLong-termAssets | 50,606,416.50 | 19,710,578.44 | |
| NetCashArisingfromDisposalofSubsidiariesandOtherBusinessUnits | |||
| OtherReceivedCashesRelatedtoInvestmentActivities | VII.78 | 32,095,926.23 | 40,915,600.00 |
| Subtotalofcashinflowfrominvestmentactivities | 3,918,099,972.77 | 1,076,658,475.97 | |
| CashPaidforPurchaseandConstructionofFixedAssets,IntangibleAssetsandOtherLong-termAssets | 3,145,862,082.45 | 3,176,917,076.36 | |
| CashPaidforInvestments | 4,495,000,000.00 | 1,310,000,000.00 | |
| NetIncreaseinPledgeLoans | |||
| NetCashPaidforAcquisitionofSubsidiariesandOtherBusinessUnits | |||
| OtherPaidCashesRelatedtoInvestmentActivities | VII.78 | 5,000,000.00 | |
| SubtotalofCashOutflowfromInvestmentActivities | 7,645,862,082.45 | 4,486,917,076.36 | |
| Netamountofcashflowgeneratedbyinvestmentactivities | -3,727,762,109.68 | -3,410,258,600.39 | |
| III.CashFlowfromFinancingActivities: | |||
| CashArisingfromAbsorbingInvestments | 3,498,437,798.43 | ||
| Including:CashArisingfromSubsidiariesAbsorbingInvestmentsbyMinorityShareholders | |||
| CashArisingfromBorrowings | 2,842,500,000.00 | 3,565,013,356.11 | |
| OtherReceivedCashesRelatedtoFinancingActivities | VII.78 | ||
| Subtotalofcashinflowfromfinancingactivities | 6,340,937,798.43 | 3,565,013,356.11 | |
| CashPaidforDebtsRepayment | 3,295,035,690.40 | 2,780,634,391.85 | |
| CashPaidforDistributionofDividendsandProfitsorPaymentofInterests | 788,539,373.05 | 648,393,139.87 | |
| Including:DividendsandProfitsPaidtoMinorityShareholdersbySubsidiaries | |||
| OtherPaidCashesRelatedtoFinancingActivities | VII.78 | 70,165,229.26 | 207,414,182.52 |
| Subtotalofcashoutflow | 4,153,740,292.71 | 3,636,441,714.24 | |
| fromfinancingactivities | |||
| Netcashflowgeneratedbyfinancingactivities | 2,187,197,505.72 | -71,428,358.13 | |
| IV.ImpactofFluctuationinExchangeRateonCashandCashEquivalents | -67,175,426.10 | 19,783,061.01 | |
| V.NetIncreaseinCashandCashEquivalents | 1,628,328,656.78 | -96,274,620.77 | |
| Add:CashandCashEquivalentsattheCommencementofthePeriod | 2,313,937,932.51 | 2,410,212,553.28 | |
| VI.CashandCashEquivalentsattheEndofthePeriod | 3,942,266,589.29 | 2,313,937,932.51 |
LegalRepresentative:WuJianshuAccountingWorkOfficer:HongTieyangAccountingInstitutionOfficer:HongTieyang
CashFlowStatementoftheParentCompanyForthePeriodfromJanuary2024toDecember2024
Unit:YuanCurrency:RMB
| Item | Note | 2024 | 2023 |
| I.CashFlowGeneratedbyOperationalActivities: | |||
| CashfromSalesofMerchandiseandProvisionofServices | 6,854,222,269.60 | 6,981,406,717.64 | |
| TaxRefund | 6,206,122.97 | 52,500,780.95 | |
| OtherReceivedCashesRelatedtoOperationalActivities | 184,129,929.08 | 136,982,528.01 | |
| Subtotalofcashinflowfromoperationalactivities | 7,044,558,321.65 | 7,170,890,026.60 | |
| CashPaidforMerchandiseandServices | 4,139,958,007.03 | 3,477,335,286.36 | |
| CashPaidtoandforEmployees | 862,593,680.40 | 737,512,383.00 | |
| CashPaidforTaxesandSurcharges | 425,087,474.44 | 370,383,385.60 | |
| OtherPaidCashesRelatedtoOperationalActivities | 321,653,484.43 | 354,121,687.97 | |
| Subtotalofcashoutflowfromoperationalactivities | 5,749,292,646.30 | 4,939,352,742.93 | |
| Netcashflowgeneratedbyoperatingactivities | 1,295,265,675.35 | 2,231,537,283.67 | |
| II.CashFlowfromInvestmentActivities: | |||
| CashArisingfromDisposalofInvestments | 3,783,441,251.62 | 1,016,032,297.53 | |
| CashArisingfromInvestmentIncomes | 50,000,000.00 | ||
| NetCashArisingfromDisposalofFixedAssets,IntangibleAssetsandOtherLong-termAssets | 100,274,217.72 | 98,890,529.05 | |
| NetCashArisingfromDisposalofSubsidiariesandOtherBusinessUnits | |||
| OtherReceivedCashesRelatedtoInvestmentActivities | 707,706,673.72 | 197,706,727.42 | |
| Subtotalofcashinflowfrominvestmentactivities | 4,641,422,143.06 | 1,312,629,554.00 | |
| CashPaidforPurchaseandConstructionofFixedAssets,IntangibleAssetsandOtherLong-termAssets | 134,060,164.10 | 375,255,080.01 | |
| CashPaidforInvestments | 7,268,747,245.60 | 2,865,569,975.00 | |
| NetCashPaidforAcquisitionofSubsidiariesandOtherBusinessUnits | |||
| OtherPaidCashesRelatedtoInvestmentActivities | 534,770,000.00 | 332,465,000.00 | |
| SubtotalofCashOutflowfromInvestmentActivities | 7,937,577,409.70 | 3,573,290,055.01 | |
| Netamountofcashflowgeneratedbyinvestmentactivities | -3,296,155,266.64 | -2,260,660,501.01 | |
| III.CashFlowfromFinancingActivities: | |||
| CashArisingfromAbsorbingInvestments | 3,498,437,798.43 | ||
| CashArisingfromBorrowings | 2,274,000,000.00 | 2,169,000,000.00 | |
| OtherReceivedCashesRelatedtoFinancingActivities | 148,000,000.00 | 100,000,000.00 | |
| Subtotalofcashinflowfromfinancingactivities | 5,920,437,798.43 | 2,269,000,000.00 | |
| CashPaidforDebtsRepayment | 2,142,900,000.00 | 2,139,600,000.00 | |
| CashPaidforDistributionofDividendsandProfitsorPaymentofInterest | 740,592,666.49 | 618,038,572.64 | |
| OtherPaidCashesRelatedtoFinancingActivities | 148,000,467.68 | 160,232,525.08 | |
| Subtotalofcashoutflowfromfinancingactivities | 3,031,493,134.17 | 2,917,871,097.72 | |
| Netcashflowgeneratedbyfinancingactivities | 2,888,944,664.26 | -648,871,097.72 | |
| IV.ImpactofFluctuationinExchangeRateonCashandCashEquivalents | -806,653.22 | -379,127.10 | |
| V.NetIncreaseinCashandCashEquivalents | 887,248,419.75 | -678,373,442.16 | |
| Add:CashandCashEquivalentsattheCommencementofthePeriod | 600,119,330.48 | 1,278,492,772.64 | |
| VI.CashandCashEquivalentsattheEndofthePeriod | 1,487,367,750.23 | 600,119,330.48 | |
LegalRepresentative:WuJianshuAccountingWorkOfficer:HongTieyangAccountingInstitutionOfficer:HongTieyang
2024
ConsolidatedStatementofChangesinOwners'EquityForthePeriodfromJanuary2024toDecember2024
Unit:YuanCurrency:RMB
| Item | 2024 | ||||||||||||||
| Shareholders'EquityAttributabletotheParentCompany'sOwner | MinorityShareholders'Equity | TotalShareholders'Equity | |||||||||||||
| Paid-inCapital(orShareCapital) | OtherEquityInstruments | CapitalReserves | Less:TreasuryShares | OtherComprehensiveIncomes | SpecialReserves | SurplusReserves | GeneralRiskReserves | UndistributedProfits | Others | Subtotal | |||||
| PreferredStocks | PerpetualBonds | Others | |||||||||||||
| I.BalanceattheEndofLastYear | 1,102,046,572.00 | 143,214,233.30 | 5,340,798,886.81 | -21,343,831.86 | 631,484,906.94 | 4,933,499,753.42 | 12,129,700,520.61 | 30,524,801.04 | 12,160,225,321.65 | ||||||
| Add:ChangesinAccoun | |||||||||||||||
2024
| tingPolicies | ||||||||||||||
| CorrectionofErrorsinthePreviousPeriod | ||||||||||||||
| Others | ||||||||||||||
| II.BalanceattheStartofThisYear | 1,102,046,572.00 | 143,214,233.30 | 5,340,798,886.81 | -21,343,831.86 | 631,484,906.94 | 4,933,499,753.42 | 12,129,700,520.61 | 30,524,801.04 | 12,160,225,321.65 | |||||
| III.IncreasesorDecreasesinThisPeriod(Decreasesin"-") | 3,201.00 | -13,061.14 | 230,654.61 | 14,064,400.47 | 75,459,088.04 | 1,564,934,797.34 | 1,654,679,080.32 | -601,496.24 | 1,654,077,584.08 | |||||
| (I)TotalComprehensiveIncome | 14,064,400.47 | 2,150,642,258.47 | 2,164,706,658.94 | -601,496.24 | 2,164,105,162.70 | |||||||||
| (II)Shareholders'ContributionandReducti | 3,201.00 | -13,061.14 | 230,654.61 | 220,794.47 | 220,794.47 |
2024
| oninCapital | ||||||||||||
| 1.Commonstockinvestedbytheowner | ||||||||||||
| 2.CapitalInvestedbyHoldersofOtherEquityInstruments | 3,201.00 | -13,061.14 | 230,654.61 | 220,794.47 | 220,794.47 | |||||||
| 3.AmountofShare-basedPaymentsRecordedintoShareholders'Equity | ||||||||||||
| 4.Others | ||||||||||||
| (III)ProfitDistribution | 75,459,088.04 | -585,707,461.13 | -510,248,373.09 | -510,248,373.09 | ||||||||
| 1.AppropriationofSurplus | 75,459,088.04 | -75,459,088.04 |
2024
| Reserves | ||||||
| 2.AppropriationofGeneralRiskReserves | ||||||
| 3.DistributiontoOwners(orShareholders) | -510,248,373.09 | -510,248,373.09 | -510,248,373.09 | |||
| 4.Others | ||||||
| (IV)InternalCarry-forwardofShareholders'Equity | ||||||
| 1.CapitalReservesTransferredintoCapital(orShareCapital) | ||||||
| 2.SurplusReserves |
2024
| TransferredintoCapital(orShareCapital) |
| 3.SurplusReservesCoveringLosses |
| 4.Carry-forwardretainedearningsofthevariationofthedefinedbenefitplan |
| 5.OtherCarry-forwardRetainedEarningsoftheComprehensi |
2024
| veIncome | ||||||||||||||
| 6.Others | ||||||||||||||
| (V)SpecialReserves | ||||||||||||||
| 1.Withdrawalinthisperiod | ||||||||||||||
| 2.Usedinthisperiod | ||||||||||||||
| (VI)Others | ||||||||||||||
| IV.BalanceattheEndofThisPeriod | 1,102,049,773.00 | 143,201,172.16 | 5,341,029,541.42 | -7,279,431.39 | 706,943,994.98 | 6,498,434,550.76 | 13,784,379,600.93 | 29,923,304.80 | 13,814,302,905.73 |
Item
| Item | 2023 |
2024
| Shareholders'EquityAttributabletotheParentCompany'sOwner | MinorityShareholders'Equity | TotalShareholders'Equity | |||||||||||||
| Paid-inCapital(orShareCapital) | OtherEquityInstruments | CapitalReserves | Less:TreasuryShares | OtherComprehensiveIncomes | SpecialReserves | SurplusReserves | GeneralRiskReserves | UndistributedProfits | Others | Subtotal | |||||
| PreferredStocks | PerpetualBonds | Others | |||||||||||||
| I.BalanceattheEndofLastYear | 1,102,046,572.00 | 143,214,233.30 | 5,340,798,886.81 | -21,343,831.86 | 631,484,906.94 | 4,933,499,753.42 | 12,129,700,520.61 | 30,524,801.04 | 12,160,225,321.65 | ||||||
| Add:ChangesinAccountingPolicies | |||||||||||||||
| CorrectionofErrorsinthe | |||||||||||||||
2024
| PreviousPeriod | ||||||||||||||
| Others | ||||||||||||||
| II.BalanceattheStartofThisYear | 1,102,046,572.00 | 143,214,233.30 | 5,340,798,886.81 | -21,343,831.86 | 631,484,906.94 | 4,933,499,753.42 | 12,129,700,520.61 | 30,524,801.04 | 12,160,225,321.65 | |||||
| III.IncreasesorDecreasesinThisPeriod(Decreasesin"-") | 3,201.00 | -13,061.14 | 230,654.61 | 14,064,400.47 | 75,459,088.04 | 1,564,934,797.34 | 1,654,679,080.32 | -601,496.24 | 1,654,077,584.08 | |||||
| (I)TotalComprehensiveIncome | 14,064,400.47 | 2,150,642,258.47 | 2,164,706,658.94 | -601,496.24 | 2,164,105,162.70 | |||||||||
| (II)Shareholders'ContributionandReductioninCapital | 3,201.00 | -13,061.14 | 230,654.61 | 220,794.47 | 220,794.47 | |||||||||
| 1.Commonstockinvestedbythe |
2024
| owner | ||||||||||||
| 2.CapitalInvestedbyHoldersofOtherEquityInstruments | 3,201.00 | -13,061.14 | 230,654.61 | 220,794.47 | 220,794.47 | |||||||
| 3.AmountofShare-basedPaymentsRecordedintoShareholders'Equity | ||||||||||||
| 4.Others | ||||||||||||
| (III)ProfitDistribution | 75,459,088.04 | -585,707,461.13 | -510,248,373.09 | -510,248,373.09 | ||||||||
| 1.AppropriationofSurplusReserves | 75,459,088.04 | -75,459,088.04 | ||||||||||
| 2.AppropriationofGeneral |
2024
| RiskReserves | ||||||
| 3.DistributiontoOwners(orShareholders) | -510,248,373.09 | -510,248,373.09 | -510,248,373.09 | |||
| 4.Others | ||||||
| (IV)InternalCarry-forwardofShareholders'Equity | ||||||
| 1.CapitalReservesTransferredintoCapital(orShareCapital) | ||||||
| 2.SurplusReservesTransferredintoCapital(orShareCapital) |
2024
| 3.SurplusReservesCoveringLosses |
| 4.Carry-forwardretainedearningsofthevariationofthedefinedbenefitplan |
| 5.OtherCarry-forwardRetainedEarningsoftheComprehensiveIncome |
| 6.Others |
| (V) |
2024
| SpecialReserves | ||||||||||||||
| 1.Withdrawalinthisperiod | ||||||||||||||
| 2.Usedinthisperiod | ||||||||||||||
| (VI)Others | ||||||||||||||
| IV.BalanceattheEndofThisPeriod | 1,102,049,773.00 | 143,201,172.16 | 5,341,029,541.42 | -7,279,431.39 | 706,943,994.98 | 6,498,434,550.76 | 13,784,379,600.93 | 29,923,304.80 | 13,814,302,905.73 |
StatementofChangesinOwners'EquityoftheParentCompany
ForthePeriodfromJanuary2024toDecember2024
Unit:YuanCurrency:RMB
2024
| Item | 2024 | ||||||||||
| Paid-inCapital(orShareCapital) | OtherEquityInstruments | CapitalReserves | Less:TreasuryShare | OtherComprehensiveIncomes | SpecialReserves | SurplusReserves | UndistributedProfits | TotalShareholders'Equity | |||
| PreferredStocks | PerpetualBonds | Others | |||||||||
| I.BalanceattheEndofLastYear | 1,102,049,773.00 | 143,201,172.16 | 5,341,029,541.42 | 706,943,994.98 | 3,981,541,695.41 | 11,274,766,176.97 | |||||
| Add:ChangesinAccountingPolicies | |||||||||||
| CorrectionofErrorsinthePreviousPeriod | |||||||||||
| Others | |||||||||||
| II.BalanceattheStartofThisYear | 1,102,049,773.00 | 143,201,172.16 | 5,341,029,541.42 | 706,943,994.98 | 3,981,541,695.41 | 11,274,766,176.97 | |||||
| III.IncreasesorDecreasesinThisPeriod(Decreasesin“-“) | 583,975,882.00 | -1,775.83 | 2,914,494,652.46 | 115,105,464.14 | 389,445,750.68 | 4,003,019,973.45 | |||||
| (1)Totalcomprehensiveincome | 1,151,054,641.35 | 1,151,054,641.35 | |||||||||
| II)Shareholders'ContributionandReductioninCapital | 60,726,706.00 | -1,775.83 | 3,437,743,828.46 | 3,498,468,758.63 | |||||||
| 1.Commonstockinvestedbytheowner | 60,726,104.00 | 3,437,711,694.43 | 3,498,437,798.43 | ||||||||
| 2.CapitalInvestedbyHoldersofOtherEquityInstruments | 602.00 | -1,775.83 | 32,134.03 | 30,960.20 | |||||||
| 3.AmountofShare-basedPaymentsRecordedintoShareholders'Equity | |||||||||||
| 4.Others | |||||||||||
| (III)ProfitDistribution | 115,105,464.14 | -761,608,890.67 | -646,503,426.53 | ||||||||
| 1.AppropriationofSurplusReserves | 115,105,464.14 | -115,105,464.14 | |||||||||
| 2.DistributiontoOwners(orShareholders) | -646,503,426.53 | -646,503,426.53 | |||||||||
| 3.Others | |||||||||||
| (IV)InternalCarry-forwardofShareholders'Equity | 523,249,176.00 | -523,249,176.00 | |||||||||
| 1.CapitalReservesTransferredintoCapital(orShareCapital) | 523,249,176.00 | -523,249,176.00 | |||||||||
| 2.SurplusReservesTransferredintoCapital(orShareCapital) | |||||||||||
| 3.SurplusReservesCoveringLosses | |||||||||||
2024
| 4.Carry-forwardretainedearningsofthevariationofthedefinedbenefitplan | ||||||||
| 5.OtherCarry-forwardRetainedEarningsoftheComprehensiveIncome | ||||||||
| 6.Others | ||||||||
| (V)SpecialReserves | ||||||||
| 1.Withdrawalinthisperiod | ||||||||
| 2.UsedinThisPeriod | ||||||||
| (VI)Others | ||||||||
| IV.BalanceattheEndofThisPeriod | 1,686,025,655.00 | 143,199,396.33 | 8,255,524,193.88 | 822,049,459.12 | 4,370,987,446.09 | 15,277,786,150.42 |
Item
| Item | 2023 | ||||||||||
| Paid-inCapital(OrShareCapital) | OtherEquityInstruments | CapitalReserves | Less:TreasuryShare | OtherComprehensiveIncomes | SpecialReserves | SurplusReserves | UndistributedProfits | TotalShareholders'Equity | |||
| PreferredStocks | PerpetualBonds | Others | |||||||||
| I.BalanceattheEndofLastYear | 1,102,046,572.00 | 143,214,233.30 | 5,340,798,886.81 | 631,484,906.94 | 3,812,658,276.18 | 11,030,202,875.23 | |||||
| Add:ChangesinAccountingPolicies | |||||||||||
| CorrectionofErrorsinthePreviousPeriod | |||||||||||
| Others | |||||||||||
| II.BalanceattheStartofThisYear | 1,102,046,572.00 | 143,214,233.30 | 5,340,798,886.81 | 631,484,906.94 | 3,812,658,276.18 | 11,030,202,875.23 | |||||
| III.IncreasesorDecreasesinThisPeriod(Decreasesin“-“) | 3,201.00 | -13,061.14 | 230,654.61 | 75,459,088.04 | 168,883,419.23 | 244,563,301.74 | |||||
| (I)TotalComprehensiveIncome | 754,590,880.36 | 754,590,880.36 | |||||||||
| (II)Shareholders'ContributionandReductioninCapital | 3,201.00 | -13,061.14 | 230,654.61 | 220,794.47 | |||||||
| 1.Commonstockinvestedbytheowner | |||||||||||
2024
| 2.CapitalInvestedbyHoldersofOtherEquityInstruments | 3,201.00 | -13,061.14 | 230,654.61 | 220,794.47 | ||||
| 3.AmountofShare-basedPaymentsRecordedintoShareholders'Equity | ||||||||
| 4.Others | ||||||||
| (III)ProfitDistribution | 75,459,088.04 | -585,707,461.13 | -510,248,373.09 | |||||
| 1.AppropriationofSurplusReserves | 75,459,088.04 | -75,459,088.04 | ||||||
| 2.DistributiontoOwners(orShareholders) | -510,248,373.09 | -510,248,373.09 | ||||||
| 3.Others | ||||||||
| (IV)InternalCarry-forwardofShareholders'Equity | ||||||||
| 1.CapitalReservesTransferredintoCapital(orShareCapital) | ||||||||
| 2.SurplusReservesTransferredintoCapital(orShareCapital) | ||||||||
| 3.SurplusReservesCoveringLosses | ||||||||
| 4.Carry-forwardretainedearningsofthevariationofthedefinedbenefitplan | ||||||||
| 5.OtherCarry-forwardRetainedEarningsoftheComprehensiveIncome | ||||||||
| 6.Others | ||||||||
| (V)SpecialReserves | ||||||||
| 1.Withdrawalinthisperiod | ||||||||
| 2.Usedinthisperiod | ||||||||
| (VI)Others | ||||||||
| IV.BalanceattheEndofThisPeriod | 1,102,049,773.00 | 143,201,172.16 | 5,341,029,541.42 | 706,943,994.98 | 3,981,541,695.41 | 11,274,766,176.97 |
LegalRepresentative:WuJianshuAccountingWorkOfficer:HongTieyangAccountingInstitutionOfficer:HongTieyang
2024
III.BasicInformationabouttheCompany
1.CompanyProfile
√Applicable□Non-applicable
NingboTuopuGroupCo.,Ltd.(hereinafterreferredtoas"Company"or"TheCompany"),acompanylimitedbyshareschangedfromNingboTuopuBrakeSystemCo.,Ltd.,incorporatedbyMECCAINTERNATIONALHOLDING（HK）LIMITED,NingboJinlunEquityInvestmentPartnership(LimitedPartnership)andNingboJinrunEquityInvestmentPartnership(LimitedPartnership),holderoftheCorporateBusinessLicense(RegistrationNo.:91330200761450380T),listedonShanghaiStockExchange(SSE)inMarch2015,isspecializedinmanufacturing-automobilemanufacturing.
AsofDecember31,2024,theCompanyhasissuedatotalof1,686,025,655shares,witharegisteredcapitalofRMB1,686,025,655million,registeredaddress:268YuwangshanRoad,DaqiStreet,BeilunDistrict,Ningbo,Zhejiang,headquarteredin268YuwangshanRoad,DaqiStreet,BeilunDistrict,Ningbo,Zhejiang,isengagedinR&D,productionandsalesofautomobileparts.MECCAINTERNATIONALHOLDING（HK）LIMITEDistheparentcompanyoftheCompanyis,andWuJianshuistheactualcontrolleroftheCompany.
ThisfinancialstatementwasapprovedforreleasebytheBoardofDirectorsonApril22,2025.IV.BasisforPreparingtheFinancialStatement
1.Basisforthepreparation
TheCompanypreparesthefinancialstatementinaccordancewith“AccountingStandardsforBusinessEnterprises-BasicStandards”issuedbytheMinistryofFinanceandallspecificaccountingstandards,applicationguidelinesforaccountingstandardsforbusinessenterprises,explanationsontheaccountingstandardsforbusinessenterprisesandotherrelatedregulations(hereinaftercollectivelyas"AccountingStandardsforBusinessEnterprises"),andthedisclosureprovisionsinthe“PreparationRulesforInformationDisclosuresbyCompaniesOfferingSecuritiestothePublicNo.15-GeneralProvisionsonFinancialReports”issuedbyCSRC.
2.Goingconcern
√Applicable□Non-applicable
Thesefinancialstatementsofthecompanyhavebeenpreparedonagoingconcernbasis.
TheCompanyhasgoing-concernabilityforatleast12monthsfromtheendofthereportingperiod,withoutanysignificantitemaffectingthecapabilityforcontinuingasagoingconcern.V.SignificantAccountingPolicesandAccountingEstimatesNotestospecificaccountingpoliciesandaccountingestimates:
√Applicable□Non-applicable
ThefollowingdisclosurescoverthespecificaccountingpoliciesandaccountingestimatesformulatedbytheCompanyaccordingtothecharacteristicsofitsproductionandoperation.
1.StatementoncompliancewithAccountingStandardsforBusinessEnterprises
Thesefinancialstatementsareinlinewiththeprovisionsofthe“AccountingStandardsforBusinessEnterprises”asenactedbytheMinistryofFinance,andtrulyandfullyreflecttheconsolidatedandtheparent’sfinancialstandingasofDecember31,2024,aswellastheconsolidatedandtheparent’soperatingresultsandcashflowsin2024.
2.AccountingPeriod
Theperiodbeginson1stdayofJanuaryandendsonthe31stdayofDecemberintheGregoriancalendariscountedasanaccountingperiod.
2024
3.Operatingcycle
√Applicable□Non-applicableTheCompany'soperatingcycleis12months.
4.FunctionalcurrencyThefunctionalcurrencyapplicabletotheCompanyisRenminbi.
5.Methodologyfordeterminingmaterialitycriteriaandbasisforselection
√Applicable□Non-applicable
| Item | Significancecriteria |
| Significantconstructioninprogress | Individualconstructioninprogressexceeding0.5%oftotalassets |
| Significantaccountspayableagedoveroneyear | Accountspayablewheretheamountofasingleitemexceeds0.5%oftotalassets |
| Significantcontractliabilitiesagedoveroneyear | Contractliabilitieswithanamountexceeding0.5%oftotalassets |
| Significantotherpayablesagedoveroneyear | Otheraccountspayablewithanamountexceeding0.5%oftotalassets |
| Significantcashflowsfrominvestingactivities | Singlecashflowfrominvestingactivitieswithanamountexceeding10%oftotalassets |
| Significantnon-whollyownedsubsidiaries | Totalassetsofnon-whollyownedsubsidiariesexceeding10%ofthecompany'sconsolidatedtotalassetsoroperatingrevenuesexceeding5%ofthecompany'sconsolidatedoperatingrevenues |
| Significantjointventuresorassociates | Carryingvalueoflong-termequityinvestmentsinjointventuresorassociatesaccountingformorethan0.5%oftheCompany'sconsolidatednetassetsorinvestmentincomeaccountedforundertheequitymethodoflong-termequityinvestmentsaccountingformorethan10%oftheCompany'sconsolidatednetincome |
6.Theaccountingtreatmentofbusinesscombinationsinvolvingenterprisesundercommoncontrolandbusinesscombinationsnotinvolvingenterprisesundercommoncontrol
√Applicable□Non-applicableBusinesscombinationundercommoncontrol:Theassetsandliabilitiesacquiredbythemergingpartyinbusinesscombinationshallbemeasuredatthebookvalueoftheassets,liabilitiesofthemergedparty(includinggoodwillincurredintheacquisitionofthemergedpartybyultimatecontrollingparty)intheconsolidatedfinancialstatementsoftheultimatecontrollingpartyonthedateofcombination.Thedifferencebetweenthebookvalueofthenetassetsobtainedandthebookvalueoftheconsiderationpaidforthecombination(ortotalnominalvalueoftheissuedshares)isadjustedtocapitalpremiumincapitalreserve.Adjustmentsshallbemadetoretainedearningsintheeventthatthesharepremiumsinthecapitalreservesarenotsufficientforwrite-down.
Businesscombinationsinvolvingentitiesnotundercommoncontrol:Theassetspaidandliabilitiesincurredorcommittedasaconsiderationofbusinesscombinationbythemergingpartyweremeasuredatfairvalueonthedateofacquisitionandthedifferencebetweenthefairvalueanditsbookvalueshallbechargedtotheprofitorlossfortheperiod.Wherethecostofcombinationishigherthanthefairvalueoftheidentifiablenetassetsacquiredfromthemergingpartyinbusinesscombination,suchdifferenceshallberecognizedasgoodwill;wherethecostofcombinationislessthanthefairvalueoftheidentifiablenetassetsacquiredfromthemergingpartyinbusinesscombination,suchdifferenceshallbechargedtotheprofitorlossfortheperiod.Theidentifiableassets,liabilitiesandcontingentliabilitiesof
2024
themergedpartyobtainedinbusinesscombinationthatmeettherecognitionconditionsaremeasuredattheirfairvaluesonthepurchasedate.Thefeeswhicharedirectlyrelatedtothebusinesscombinationshallberecognizedastheprofitorlossintheperiodwhenthecostsareincurred;thetransactionexpensesofissuingequitysecuritiesordebtsecuritiesforbusinessmergershallbeinitiallycapitalizedforequitysecuritiesordebtsecurities.
7.Criteriafordeterminingcontrolandpreparationmethodofconsolidatedfinancialstatements
√Applicable□Non-applicable
1.CriteriafordeterminingcontrolThedeterminationofthescopeofconsolidationintheconsolidatedfinancialstatementsisbasedoncontrol.ThisscopeencompassestheCompanyaswellasallitssubsidiaries.ControlreferstotheCompany'sauthorityovertheinvestee,itsabilitytogainvariablereturnsbyparticipatingintherelevantinvestee'sactivities,anditscapacitytoutilizeitsauthoritytoinfluencetheamountofreturnsitreceives.
2.ProceduresofConsolidationTheCompanyregardstheEnterpriseGroupasanaccountingentityandpreparesconsolidatedfinancialstatementsinaccordancewithunifiedaccountingpoliciestoreflecttheoverallfinancialposition,operatingresultandcashflowoftheEnterpriseGroup.TheinfluenceofinternaltransactionsbetweentheCompanyandtheSubsidiariesandbetweentheSubsidiariesshallbeoffset.Whereinternaltransactionindicatestheoccurrenceofimpairmentlosstorelevantassets,suchlossshallberecognizedinfull.Inpreparingtheconsolidatedfinancialstatements,wheretheaccountingpoliciesandtheaccountingperiodsareinconsistentbetweentheCompanyandsubsidiaries,thefinancialstatementsofsubsidiariesareadjustedwherenecessaryinaccordancewiththeaccountingpoliciesandaccountingperiodoftheCompany.
Theowner'sequity,thenetprofitorlossandthecomprehensiveincomeattributabletominorityshareholdersofasubsidiaryofthecurrentperiodarepresentedseparatelyundertheowners'equityintheconsolidatedbalancesheet,thenetprofitandthetotalcomprehensiveincomeintheconsolidatedincomestatementrespectively.Wherelossesattributabletotheminorityshareholdersofasubsidiaryofthecurrentperiodexceedtheminorityshareholders'interestentitledintheshareholders'equityofthesubsidiaryatthebeginningoftheperiod,theexcessisallocatedagainsttheminorityshareholdersinterest.
(1)AcquisitionofsubsidiariesorBusinessForacquisitionofsubsidiariesorbusinessduetobusinesscombinationinvolvingentitiesundercommoncontrolduringthereportingperiod,theoperatingresultsandcashflowsofsuchsubsidiariesorbusinessfromthebeginningtotheendofthereportingperiodwhentheacquisitionoccursshallbeincludedintheconsolidatedfinancialstatements.Adjustmentsshallbemadetotheopeningbalanceoftheconsolidatedfinancialstatementsandtherelateditemsinthecomparativestatementssimultaneouslyasiftheconsolidatedreportingentityhasbeeninexistencesincethebeginningofthecontrolbytheultimatecontrollingparty.
Wherethecontrolovertheinvesteeundercommoncontrolismadepossibleduetoadditionalinvestmentorotherreasons,theequityinvestmentheldbeforegainingcontrolofthecombinedpartyisrecognizedasrelevantprofitorloss,othercomprehensiveincomeandchangesofothernetassetsatthelaterofthedateofacquisitionoftheoriginalequityandthedatewhenthecombiningandthecombinedpartiesareundercommoncontrol,andshallbewrittendowntotheopeningretainedearningsorcurrentprofitorlossinthecomparativereportingperiod.
Foracquisitionofsubsidiariesorbusinessduetobusinesscombinationinvolvingentitiesnotundercommoncontrolduringthereportingperiod,theidentifiableassets,liabilitiesandcontingentliabilitiesshallbeincludedintheconsolidatedfinancialstatementsbasedonthefairvaluedeterminedonthedateoftheacquisition.
Inconnectionwithimposingcontrolovertheinvesteenotunderjointcontrolduetoadditional
2024
investmentandotherreasons,theequityofacquireeheldbeforeacquisitiondateshallberemeasuredbytheCompanyatthefairvalueofsuchequityontheacquisitiondateandthedifferencebetweenfairvalueandbookvalueshallberecognizedasinvestmentincomeincurrentperiod.OthercomprehensiveincomerelatedtotheequityheldbytheAcquireebeforetheacquisitiondatewhichcanbereclassifiedintofutureprofitorloss,andotherchangesofowners’equityaccountedforunderequity
(2)DisposalofSubsidiariesorBusiness
①GeneralTreatmentWhenlosingcontroloftheinvesteeduetopartialdisposaloftheequityinvestment,oranyotherreasons,theremainingequityinvestmentisremeasuredatfairvalueatthedateinwhichcontrolislost.Thesumofconsiderationreceivedfromdisposalofequityandthefairvalueoftheremainingequity,netofthedifferencebetweenthesumoftheCompany'spreviousshareofthesubsidiary'snetassetsrecordedfromtheacquisitiondateorcombinationdateandthesumofgoodwill,isrecognizedininvestmentincomeintheperiodinwhichcontrolislost.Othercomprehensiveincomerelatedtotheequityinvestmentoftheoriginalsubsidiarythatcanbereclassifiedintofutureprofitorloss,andotherchangesofowners’equityaccountedforunderequitymethodshallberecognizedininvestmentincomeintheperiodinwhichcontrolislost.
②DisposalofSubsidiaryAchievedbyStages
Whendisposalofequityinterestsofsubsidiariesthroughmultipletransactionuntilthecontrolislost,generallytransactionsinstagesaretreatmentasapackagedealinaccountingifthetransactionterms,conditions,andeconomicimpactofdisposalofthesubsidiary'sequityinterestscomplywithoneormoreofthefollowing:
i.Thesetransactionsareachievedatthesametimeorthemutualeffectsoneachotherareconsidered;
ii.Acompletesetofcommercialresultscanbeachievedwithreferencetotheseriesoftransactionsasawhole;
iii.Achievingatransactiondependsonatleastachievingofoneoftheothertransaction;
iv.Onetransactionrecognizedseparatelyisnoteconomical,butitiseconomicalwhenconsideredtogetherwithothertransactions.
Whenlosingcontrolofasubsidiaryindisposalofequityintereststhroughmultipletransactionsisrecognizedasapackagedeal,thesetransactionsshallbeinaccountingtreatedaslosscontrolofasubsidiaryindisposalofequityinterestsachieved.However,thedifferencesbetweenpriceoneachdisposalanddisposalofinvestmentonthesubsidiary'snetassetsshallberecognizedinothercomprehensiveincomeintheconsolidatedfinancialstatements,andincludedinprofitorlossfortheperiodwhenthecontrolislost.
Whenalltransactionsindisposalofequityinterestsofsubsidiariesarenotapackagedeal,accountingtreatmentforpartialdisposalofequityinvestmentsofsubsidiarywithoutlosingcontrolshallbeappliedbeforecontrolislost.Whenthecontrolislost,generalaccountingtreatmentfordisposalofasubsidiaryshallbeused.
(3)AcquisitionofMinorityInterestofSubsidiariesTheCompanyshalladjustthesharepremiuminthecapitalreserveoftheconsolidatedbalancesheetwithrespecttoanydifferencebetweenthelong-termequityinvestmentarisingfromthepurchaseofminorityinterestandthenetassetsattributingtotheparentcompanycontinuouslycalculatedonthebasisofthenewlyincreasedshareproportionasoftheacquisitiondateordateofcombination,adjusttheretainedearningsifthesharepremiuminthecapitalreserveisinsufficientforwrite-down.
(4)PartialDisposalofEquityInvestmentinSubsidiarieswithoutLosingControlDisposalpriceanddisposaloflong-termequityinvestmentshallbeentitledtothedifferencebetweenthesharesofthenetassetsofthesubsidiariescalculatedcontinuouslyfromthedateofpurchaseoracquisition.Adjustmentsshallbemadetotheequitypremiumsinthecapitalreserveofconsolidatedbalancesheet.Whentheequitypremiumsinthecapitalreservearenotsufficientforwrite-down,theretainedearningsshallbeadjusted.
8.ClassificationofJointArrangementandAccountingTreatmentMethodsofJointOperation
√Applicable□Non-applicable
2024
Jointarrangementcanbedividedintojointoperationandjointventure.Jointoperationreferstoajointarrangementinwhichthepartieshaverightstotheassetsandobligationsfortheliabilitiesrelatingtothejointoperation.TheCompanyrecognizesthefollowingitemsrelatedtotheshareofinterestsinthejointoperation:
(1)RecognizetheassetsheldseparatelybytheCompanyandtheassetsjointlyheldinaccordancewiththeshareoftheCompany;
(2)RecognizetheliabilitiesassumedseparatelybytheCompanyandtheliabilitiesjointlyassumedinaccordancewiththeshareoftheCompany;
(3)RecognizetheincomegeneratedthroughthesaleoftheCompany'sshareoftheoutputofthejointoperation;
(4)RecognizetheincomegeneratedthroughthesaleoftheoutputofthejointoperationinaccordancewiththeshareoftheCompany；
(5)Recognizetheexpensesincurredseparately,andtheexpensesincurredinjointoperationinaccordancewiththeshareoftheCompany.TheCompany'sinvestmentinjointventureisaccountedforbytheequitymethod,asspecifiedinthenote“VII.17.Long-termEquityInvestment”.
9.Recognitioncriteriaofcashandcashequivalents
CashreferstothecashonhandoftheCompanyanddepositsthatareavailableforpaymentatanytime.CashequivalentsrefertoinvestmentsheldbytheCompanyfeaturingshortduration,strongliquidity,easyconversionintocashofknownamountandlowriskofchangesinvalue.
10.Conversionoftransactionsandfinancialstatementsdenominatedinforeigncurrencies
√Applicable□Non-applicable
1.ForeigncurrencytransactionsForeigncurrencytransactionsshallbetranslatedintoRMBatthespotexchangerateonthedaywhenthetransactionsoccurred,oratanexchangeratefixedinaccordancewithasystematicandreasonablemethodthatissimilartothespotexchangerateonthedaywhenthetransactionsoccurred.Balancesheetdateforeigncurrencymonetaryitemsshallbetranslatedusingthespotexchangerateatthebalancesheetdate.Theresultingexchangedifferencesarerecognizedinprofitorlossforthecurrentperiod,exceptforthosedifferencesrelatedtotheprincipalandinterestonaspecific-purposeborrowingdenominatedinforeigncurrencyforacquisitions,constructionorproductionofthequalifiedassets,whichshouldbecapitalizedascostoftheassets.
2.Translationofforeigncurrencyfinancialstatements
Allassetsandliabilitiesitemsinbalancesheetaretranslatedbasedonspotexchangerateonthebalancesheetdate;owners'equityitemsotherthan"undistributedprofits"aretranslatedataspotexchangeratewhenaccrued.Revenueandexpenseitemsascontainedintheincomestatementaretranslatedataspotexchangerateatthetransactionoccurrencedate.Fordisposalofoverseasoperation,thetranslationdifferenceasstatedintheforeigncurrencyfinancialstatementsrelatingtooverseasoperation,isaccountedforintheprofitandlossaccountinthecurrentperiodfromowners'equityitems.
11.Financialinstruments
√Applicable□Non-applicable
2024
TheCompanyrecognizesafinancialasset,financialliabilityorequityinstrumentwhenitbecomesapartytoafinancialinstrumentcontract.
1.ClassificationofthefinancialinstrumentsAccordingtotheCompany'sbusinessmodelformanagementofthefinancialassetsandthecontractualcashflowfeaturesofthefinancialassets,thefinancialassets,wheninitiallyrecognized,areclassifiedas:
financialassetsatamortizedcost,financialassetsatfairvaluethroughothercomprehensiveincomeandfinancialassetsatfairvaluethroughprofitorloss.
Forfinancialassetsthatmeetthefollowingconditionsandarenotdesignatedtobemeasuredatfairvaluethroughthecurrentprofitorloss,theCompanyclassifiesthemasfinancialassetsatamortizedcost:
—Thebusinessmodelisaimedatcollectingcontractcashflow;—Contractcashflowisthepaymentofprincipalandinterestbasedontheoutstandingprincipal
amount.Forfinancialassetsthatmeetthefollowingconditionsandarenotdesignatedtobemeasuredatfairvaluethroughcurrentprofitorloss,theCompanyclassifiesthemasfinancialassetsatfairvaluethroughothercomprehensiveincome(debtinstruments).
—Thebusinessmodelisaimedatbothcollectingcontractcashflowsandsellingfinancialasset;—Contractcashflowisthepaymentofprincipalandinterestbasedontheoutstandingprincipal
amount.TheCompanywill,atthetimeofinitialrecognition,irrevocablydesignatenon-tradinginvestmentsinequityinstrumentsasfinancialassetsmeasuredatfairvalueandthechangeshallbeincludedinothercomprehensiveincome(equityinstrument).Thedesignationismadeonthebasisofindependentinvestment,andtherelatedinvestmentsfitthedefinitionofanequityinstrumentfromanissuer’sperspective.Inadditiontotheaforementionedfinancialassetsatamortizedcostandatfairvaluethroughothercomprehensiveincome,theCompanyclassifiesallotherfinancialassetsasfinancialassetsatfairvaluethroughcurrentprofitorloss.Atthetimeofinitialrecognition,forfinancialassetsthatshouldhavebeenclassifiedasfinancialassetsatamortizedcostorfairvaluethroughothercomprehensiveincome,theCompanycanirrevocablydesignatethemasfinancialassetsatfairvaluethroughcurrentprofitorlossinordertoeliminateorsignificantlyreducetheaccountingmismatch.
Thefinancialliabilities,wheninitiallyrecognized,areclassifiedas:financialliabilitiesatfairvaluethroughprofitorlossandfinancialliabilitiesatamortizedcost.Financialliabilitieswhichmeetoneofthefollowingconditionswillbe,wheninitiallymeasured,designatedasfinancialliabilitiesatfairvaluethroughprofitorloss:
1)Suchdesignationmaybeabletoeliminateorsignificantlyreducetheaccountingmismatch.
2)Theportfoliooffinancialliabilitiesortheportfoliooffinancialassetsandfinancialliabilitiesshallbesubjecttomanagementandperformanceevaluationonthebasisoffairvalueaccordingtotheenterpriseriskmanagementorinvestmentstrategycontainedintheformaldocumentations,andareportshallbemadetothekeymanagementpersonnelwithintheenterpriseonthisbasis.
3)Suchfinancialliabilitiesshallcontainembeddedderivativestobesplitseparately.
2.Recognitionandmeasurementoffinancialinstruments
(1)FinancialassetsatamortizedcostFinancialassetsatamortizedcostincludenotesreceivable,accountsreceivable,otherreceivables,long-termreceivablesandcreditorsinvestment,whichshallbeinitiallymeasuredatfairvalue,andtherelevanttransactionexpensesshouldbeinitiallycapitalized;TheaccountsreceivablethatdonotcontainmaterialfinancingcompositionsandthoseforwhichtheCompanydecidestonottakeintoaccountthefinancingcompositionsofnomorethanoneyearshallbeinitiallymeasuredatthecontracttransactionprice.
Theinterestcalculatedbyeffectiveinterestmethodduringtheholdingperiodisrecordedintothe
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currentprofitandloss.Atthetimeofrecoveryordisposal,thedifferencebetweenthepriceobtainedandthebookvalueshallbeincludedinthecurrentprofitorloss.
(2)Financialassetsmeasuredatfairvalueanditschangesareincludedinothercomprehensiveincome(debtinstruments)
Financialassetsmeasuredatfairvalueanditschangesareincludedinothercomprehensiveincome(debtinstruments)includereceivablesfinancingandinvestmentsinothercreditor'srights.Theyareinitiallymeasuredatfairvalue,andthevalue,otherthantheinterest,theimpairmentlossorprofitandtheprofitorlossonforeignexchange,shallbeincludedinothercomprehensiveincome.
Uponderecognition,thecumulativeprofitsorlossespreviouslyincludedinothercomprehensiveincomeshallberemovedfromothercomprehensiveincomeandincludedintheprofitorlossfortheperiod.
(3)Financialassetsatfairvaluethroughothercomprehensiveincome(equityinstruments)Financialassetsatfairvaluethroughothercomprehensiveincome(equityinstruments)includeinvestmentinotherequityinstruments.Theyareinitiallymeasuredatfairvalue,andthetransactionexpensesshallbeinitiallycapitalized.Thesefinancialassetsaresubsequentlymeasuredatfairvalue,andthechangeinfairvalueshallbeincludedinothercomprehensiveincome.Thedividendsobtainedshallbeincludedintheprofitorlossfortheperiod.Uponderecognition,thecumulativeprofitsorlossespreviouslyincludedinothercomprehensiveincomeshallberemovedfromothercomprehensiveincomeandincludedinthecarry-forwardretainedearnings.
(4)FinancialassetsatfairvaluethroughprofitorlossinthisperiodFinancialassetsatfairvaluethroughprofitorlossincludetradingfinancialassets,derivativefinancialassetsandothernon-currentfinancialassets.Theyareinitiallymeasuredatfairvalue,andthetransactionexpensesrelatedtothemareincludedintheprofitorlossfortheperiod.Thesefinancialassetsaresubsequentlymeasuredatfairvalue,andthechangeinfairvalueshallbeincludedintheprofitorlossfortheperiod.
(5)FinancialLiabilitiesMeasuredinFairValuewithChangesRecordedintoCurrentProfitandLossFinancialliabilitiesatfairvaluethroughprofitorlossincludetradingfinancialliabilitiesandderivativefinancialliabilities.Theyareinitiallymeasuredatfairvalue,andthetransactionexpensesrelatedtothemareincludedintheprofitorlossfortheperiod.Thesefinancialliabilitiesaresubsequentlymeasuredatfairvalue,andthechangeinfairvalueshallbeincludedintheprofitorlossfortheperiod.
Uponderecognition,thedifferencebetweentheirbookvalueandtheconsiderationpaidisincludedintheprofitorlossfortheperiod.
(6)Financialliabilitiesatamortizedcost
Financialliabilitiesatamortizedcostincludeshort-termloans,notespayable,accountspayable,otherpayables,long-termloans,bondspayable,andlong-termpayables.Theyareinitiallymeasuredatfairvalue,andthetransactionexpensesshallbeinitiallycapitalized.
Theinterestcalculatedbyeffectiveinterestmethodduringtheholdingperiodisrecordedintothecurrentprofitandloss.
Uponderecognitionthedifferencebetweentheconsiderationpaidandthebookvalueofthese
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financialliabilitiesisincludedinthecurrentprofitorloss.
3.DerecognitionandtransferoffinancialassetsTheCompanyderecognizesfinancialassetswhenanyoneofthefollowingconditionsissatisfied:
-Thecontractualrighttoreceivecashflowsofthefinancialassetshasbeenterminated;
-Thefinancialassethavebeentransferredandvirtuallyalltherisksandrewardsrelatedtothe
ownershipofthefinancialassetshavebeentransferredtothetransferee;
-Thefinancialassetshavebeentransferred,andwhiletheCompanyhasneithertransferrednor
retainedvirtuallyalloftherisksandrewardsrelatedtotheownershipofthefinancialassets,ithasnotretainedcontrolofthefinancialassets.
Thefinancialassetshavebeentransferred,andwhiletheCompanyhasneithertransferrednorretainedvirtuallyalloftherisksandrewardsrelatedtotheownershipofthefinancialassets,ithasnotretainedcontrolofthefinancialassets.
Thesubstance-over-formprincipleshallbeadoptedwhilemakingjudgmentonwhetherthetransferoffinancialassetssatisfiestheaboveconditionsforterminationofrecognition.
Thetransferoffinancialassetscanbeclassifiedintoentiretransferandpartialtransfer.Ifthetransferofanentirefinancialassetsatisfiestheconditionsforterminationofrecognition,thedifferencebetweenthetwoamountsbelowshallberecordedintoprofitorlossfortheperiod:
(1)Thebookvalueofthefinancialassettransferred;
(2)Theconsiderationreceivedasaresultofthetransfer,plustheaccumulativeamountofthechangeinfairvaluepreviouslyrecordedintotheowners'equities(incaseswherethetransferredfinancialassetsarefinancialassetsatfairvaluethroughothercomprehensiveincome(debtinstruments)).
Ifthepartialtransferoffinancialassetssatisfiestheconditionsforterminationofrecognition,theoverallbookvalueofthetransferredfinancialassetshallbeapportionedaccordingtotheirrespectiverelativefairvaluebetweentherecognitionterminatedpartandtheremainingpart,andthedifferencebetweenthetwoamountsbelowshallberecordedintoprofitorlossforthecurrentperiod:
(1)Thebookvalueoftherecognitionterminatedportion;
(2)Thesumofconsiderationoftherecognitionterminatedportionandthecorrespondingportionofaccumulatedchangeinfairvaluepreviouslyrecordedintoowners'equity(incaseswherethetransferredfinancialassetsarefinancialassetsatfairvaluethroughothercomprehensiveincome(debtinstruments)).
Financialassetswillstillberecognizediftheyfailtosatisfytheconditionsforterminationofrecognition,withtheconsiderationreceivedrecognizedasafinancialliability.
4.Recognitionforterminationoffinancialliabilities
Whenthecurrentobligationunderafinancialliabilityiscompletelyorpartiallydischarged,therecognitionofthewholeorrelevantportionoftheliabilityisterminated;anagreementisenteredbetweentheCompanyandacreditortoreplacetheoriginalfinancialliabilitieswithnewfinancialliabilitieswithsubstantiallydifferentterms,terminatetherecognitionoftheoriginalfinancialliabilitiesaswellasrecognizethenewfinancialliabilities.
Ifallorpartofthecontracttermsoftheoriginalfinancialliabilitiesaresubstantiallyamended,therecognitionoftheoriginalfinancialliabilitieswillbeterminatedinfullorinpart,andthefinancialliabilitieswhosetermshavebeenamendedshallberecognizedasanewfinancialliability.
Whenrecognitionoffinancialliabilitiesisterminatedinfullorinpart,thedifferencebetweenthebookvalueofthefinancialliabilitiesterminatedandtheconsiderationpaid(includingtransferrednon-cashassetsornewfinancialliability)isrecognizedinprofitorlossforthecurrentperiod.
WheretheCompanyrepurchasespartofitsfinancialliabilities,thebookvalueofsuchfinancialliabilitieswillbeallocatedaccordingtotherelativefairvaluebetweenthecontinuedrecognizedpart
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andterminatedpartontherepurchasedate.Thedifferencebetweenthebookvalueofthefinancialliabilitiesterminatedandtheconsiderationpaid(includingtransferrednon-cashassetsornewfinancialliability)isrecognizedinprofitorlossforthecurrentperiod.
5.MethodofdeterminingthefairvaluesoffinancialassetsandliabilitiesThefairvalueofafinancialinstrumentthatistradedinanactivemarketisdeterminedatthequotedpriceintheactivemarket.Thefairvalueofafinancialinstrumentthatisnottradedinanactivemarketisdeterminedbyusingavaluationtechnique.TheCompanyusesthevaluationtechniquewhenitisapplicableundercurrentconditionsandthereareenoughavailabledataandotherinformationtosupportandthetechniqueshouldmaximizetheuseofrelevantobservable.Itchoosestheinputswhichareconsistentwiththeassetorliability'scharacteristicsconsideredbymarketparticipantsinthetransactionoftherelevantassetorliabilityandmakesthemaximumuseofrelevantobservableinputs.Unobservableinputsareusedunderthecircumstancethattherelevantobservableinputscannotbeobtainedornotfeasible.
6.Testmethodandaccountingtreatmentforimpairmentoffinancialassets
TheCompanyaccountsforimpairmentoffinancialassetscarriedatamortizedcost,financialassets(debtinstruments)atfairvaluethroughothercomprehensiveincomeandfinancialguaranteecontractsonthebasisofexpectedcreditlosses.
TheCompanyrecognizesexpectedcreditlossesbycalculatingtheprobability-weightedamountofthepresentvalueofthedifferencebetweenthecashflowsreceivableandthecashflowsexpectedtobereceivedfromacontract,takingintoaccountreasonableandsupportableinformationaboutpastevents,currentconditions,andforecastsoffutureeconomicconditions,weightedbytheriskofdefault.
Forreceivablesandcontractassetsresultingfromtransactionsgovernedby“AccountingStandardsforBusinessEnterprisesNo.14,Revenue”,theCompanyalwaysmeasuresitsallowanceforlossesatanamountequaltotheexpectedcreditlossesovertheentireduration,regardlessofwhetherornotthereisasignificantfinancingcomponent.Forleasereceivablesresultingfromtransactionsgovernedby“AccountingStandardsforBusinessEnterprisesNo.21,Leases”,theCompanyhaselectedtoalwaysmeasureitsallowanceforlossesatanamountequaltotheexpectedcreditlossesovertheentireduration.
Forotherfinancialinstruments,theCompanyassessesateachbalancesheetdatethechangesincreditriskoftherelevantfinancialinstrumentssinceinitialrecognition.
TheCompanyrecognizestherelativechangesintheriskofdefaultwithintheexpecteddurationoffinancialinstruments,andassesseswhetherthecreditriskoffinancialinstrumentshassignificantlyincreasedsincetheinitialrecognitionbycomparingtheriskofdefaultoffinancialinstrumentsonthebalancesheetdatewiththeriskofdefaultontheinitialrecognitiondate.Ifthefinancialinstrumentbecomesoverdueformorethan30days,theCompanybelievesthatthecreditriskofthisfinancialinstrumenthasbeensignificantlyincreased,unlessthereareconcreteevidencesthatthecreditriskofthisfinancialinstrumenthasnotbeensignificantlyincreaseduponinitialrecognition.
Ifthefinancialinstrumentcarrieslowcreditriskatthebalancesheetdate,theCompanybelievesthatthecreditriskofthisfinancialinstrumentisnotsignificantlyincreaseduponinitialrecognition.
Incasethecreditriskofafinancialinstrumenthassignificantlyincreasedsinceinitialrecognition,theCompanywillcalculatetheallowanceforlossesbasedontheexpectedcreditlossesovertheentirelifeofthefinancialinstrument.Conversely,ifthecreditriskhasnotsignificantlyincreasedsinceinitialrecognition,theCompanywillmeasuretheallowanceforlossesbasedontheexpectedcreditlossesofthefinancialinstrumentwithinthenext12months.Anyresultingincreaseorreversalinthelossallowancewillberecordedasanimpairmentlossorgainintheprofitorlossstatement.Forfinancialassets(debtinstruments)carriedatfairvaluethroughothercomprehensiveincome,theallowanceforlosseswillberecognizedinothercomprehensiveincome,whiletheimpairmentlossorgainwillberecognizedintheprofitorlossstatementforthecurrentperiod,withoutreducingthecarryingamountofthefinancialassetasreportedinthebalancesheet.
Ifthereisobjectiveevidencethatareceivableisimpairedforcreditpurposes,theCompanymakesanallowanceforimpairmentofthatreceivableonanindividualbasis.
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Inadditiontotheabovereceivablesthatareindividuallyprovidedforbaddebts,theCompanyclassifiestheremainingfinancialinstrumentsintoportfoliosbasedoncreditriskcharacteristicsanddeterminestheexpectedcreditlossesonaportfoliobasis.ThecategoriesofportfoliosandthebasisfordeterminingexpectedcreditlossesfortheCompany'snotesandaccountsreceivablefinancingareasfollows:
| Item | Typeofportfolio | Basisofdetermination |
| Bankacceptances | Portfolio1 | Notesreceivablewithcommercialbanksasacceptors |
| Commercialacceptance | Portfolio2 | Notesreceivablewithnon-commercialbanksasacceptors |
Thecategoriesofportfolioandthebasisfordeterminingtheexpectedcreditlossesonaccountsreceivableandotherreceivablesweresetoutbelow:
| Item | Typeofportfolio | Basisofdetermination |
| Accountsreceivable | Agingportfolio | Agingfromthepointintimewhentheaccountsreceivablearerecognized |
| Otherreceivables | Agingportfolio | Agingfromthepointofrecognitionofotherreceivables |
IftheCompanydoesnothaveareasonableanticipationanymorethatitwillrecoverthecontractualcashflowsfromafinancialasset,eitherinwholeorinpart,thecarryingamountofthefinancialassetisdirectlyreduced.
12.Notesreceivable
□Applicable√Non-applicable
13.Accountsreceivable
□Applicable√Non-applicable
14.Receivablesfinancing
□Applicable√Non-applicable
15.Otheraccountsreceivable
□Applicable√Non-applicable
16.Inventories
√Applicable□Non-applicableInventorycategories,issuevaluationmethod,inventorysystem,amortizationmethodforlowvalueconsumablesandpackages
√Applicable□Non-applicable
1.Categoryandcostofinventories
Inventoriesareclassifiedasrawmaterials,turnovermaterials,commoditystocks,productsinprogressandmaterialscommissionedforprocessing.
Inventoriesareinitiallymeasuredatcost.Inventorycostsincludeprocurementcosts,processingcosts,andotherexpensesincurredtobringtheinventorytoitscurrentlocationandcondition.
2.Determinationofcostfordeliveredinventory
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Costofinventoriesisdeterminedusingtheweightedaveragemethod.
3.InventorysystemTheperpetualinventorysystemisadopted.
4.Amortizationoflow-valueconsumablesandpackagingmaterials
(1)Low-valueconsumablesareamortizedusingtheimmediatewrite-offmethod;
(2)Packagingmaterialsareamortizedusingtheimmediatewrite-offmethod.Criteriaforrecognizationandprovisionforinventoryfallingpricereserves
√Applicable□Non-applicable
Onthebalancesheetdate,inventoriesshallbemeasuredatthelowerofcostandnetrealizablevalue.Aprovisionshallbemadeforinventorypricedropsifinventorycostsexceedthenetrealizablevalue.Netrealizablevaluereferstotheamountafterdeductingtheestimatedcoststobeincurredatthetimeofcompletion,theestimatedsellingexpensesandtaxesfromtheestimatedsalespriceofinventoriesduringdailyactivities.
Netrealizablevalueofheld-for-salecommoditystocks,suchasfinishedgoods,goods-in-stock,andheld-for-salerawmaterials,duringthenormalcourseofproductionandoperation,shallbedeterminedbytheirestimatedsaleslesstherelatedsellingexpensesandtaxes;thenetrealizablevalueofmaterialinventories,whichneedtobeprocessed,duringthenormalcourseofproductionandoperation,shallbedeterminedbytheamountafterdeductingtheestimatedcostofcompletion,estimatedsellingexpensesandrelevanttaxesfromtheestimatedsellingpriceoffinishedgoods;thenetrealizablevalueofinventoriesheldforexecutionofsalescontractsorlaborcontractsshallbecalculatedonthegroundofthecontractedprice.Ifanenterpriseholdsmoreinventoriesthanthequantitystipulatedinthesalescontract,thenetrealizablevalueoftheexceedingpartshallbecalculatedonthegroundofgeneralsellingprice.
WheretheCompanyprovidesforprovisionforinventoryfallingpricereservesonaportfoliobasis,thecategoriesofportfoliosandthebasisfordeterminingtheportfoliosaswellasthebasisfordeterminingthenetrealizablevalueofdifferentcategoriesofinventoriesaresetoutbelow:
| Categoryofinventoryportfolio | Basisfordeterminingportfolio | Basisfordeterminingnetrealizablevalue |
| Inventoryageportfolio | Inventoryage | Thenetrealizablevalueofinventorieswithanageofmorethanoneyearandcorrespondingtomodelsthathaveceasedproductioniszero;forotherinventories,thenetrealizablevalueistheestimatedsellingpricelessestimatedsellingexpensesandrelatedtaxes. |
Theinventoryfallingpricereserveswithdrawnshallbereversedwithintheamountwithdrawn,andthereversedamountshallbeincludedincurrentprofitorloss,ifthenetrealizablevalueofaninventoryishigherthanitsbookvalueafterthewithdrawalduetothedisappearanceofthefactorsthatinfluencethewriting-downofitsvalue.Categoriesandbasisfordeterminingprovisionforinventoryfallingpricereservesaccordingtoportfolios,andbasisfordeterminingnetrealizablevalueofdifferentcategoriesofinventories
□Applicable√Non-applicableCalculationmethodandbasisfordeterminingthenetrealizablevalueofinventoriesbyagegroupforthepurposeofrecognizingnetrealizablevalueofinventoriesbasedonagegroup.
□Applicable√Non-applicable
2024
17.Contractassets
√Applicable□Non-applicableRecognitionmethodsandstandardsofcontractassets
√Applicable□Non-applicable
TheCompanyshallshowthecontractassetsorcontractliabilitiesinthebalancesheetinaccordancewiththerelationshipbetweentheperformanceofthecontractobligationsandtheCustomerpayment.TheCompanyshalllistitsrighttoreceiveconsiderationduetothetransferofgoodsorservicestotheCustomer(andsuchrightsaresubjecttofactorsotherthanthepassageoftime)ascontractualassets.Contractassetsandcontractliabilitiesunderthesamecontractshallbeshownonanetbasis.TheCompany’sunconditionalright(dependingsolelyonthepassageoftime)tocollectconsiderationfromtheCustomershallbeshownseparatelyasareceivable.CategoriesandDeterminationBasisofAllowanceforCreditLossesbyCreditRiskCharacteristicGroupings
√Applicable□Non-applicable
See“V.11.5.Testingmethodsandaccountingtreatmentmethodsforimpairmentoffinancialassets”forspecifieddeterminationmethodandaccountingtreatmentfortheexpectedcreditlossofcontractassets.Categoriesofportfoliosforwhichbaddebtprovisioningismadeaccordingtothecombinationofcreditriskcharacteristicsandthebasisfordeterminingthem
□Applicable√Non-applicableAgingcalculationmethodforrecognizingcreditriskprofilegroupingsbasedonaging
□Applicable√Non-applicableDeterminationofbaddebtprovisioningbasedonindividualitemsIndividualprovisioningjudgmentcriteria
□Applicable√Non-applicable
18.Held-for-saleassets
√Applicable□Non-applicable
Anon-currentassetordisposalgroupisclassifiedasheldforsaleifitscarryingamountistoberecoveredprincipallythroughsale(includingnon-monetaryassetexchangeswithcommercialsubstance)ratherthanthroughcontinuinguse.Recognitioncriteriaandaccountingtreatmentfornon-currentassetsordisposalgroupsclassifiedasheldforsale
√Applicable□Non-applicable
TheCompanywillcategorizenon-currentassetsordisposalgroupsasheldforsaleifthefollowingconditionsaremetsimultaneously:
(1)ThesaleoftheseassetsordisposalgroupsisimminentbasedonthecurrentconditionsandtheCompany'spastpracticeofsellingsimilarassetsordisposalgroups.
(2)Itishighlylikelythatthesalewilloccurwithinoneyear.TheCompanyhasmadeadecisiontosellandhasobtainedfirmcommitmentsfrombuyers.Iftherelevantregulationsrequireapprovalfromtherelevantauthorityorregulatorybodybeforethesalecanproceed,theCompanyhasobtainedthatapproval.Fornon-currentassetsclassifiedasheldforsale(excludingfinancialassets,deferredincometaxassets,andassetsarisingfromemployeecompensation)ordisposalgroupswithacarryingvaluehigherthanthefairvaluelesscoststosell,thecarryingvalueisreducedtothefairvaluelesscoststosell.The
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amountofthereductionisrecognizedasanimpairmentlossontheasset,whichisthenrecordedintheprofitorlossstatement.Additionally,aprovisionforimpairmentofassetsheldforsaleisalsocreated.Recognitioncriteriaandpresentationofdiscontinuedoperations
√Applicable□Non-applicableDiscontinuedoperationisacomponentthatmeetsoneofthefollowingconditionsandcanbeseparatelydistinguished,andthecomponenthasbeendisposedofbytheCompanyorclassifiedasheldforsalebytheCompany:
(1)Thecomponentrepresentsaseparateprincipalbusinessoraseparateprincipaloperatingarea;
(2)Thecomponentispartofarelatedprogramofproposeddispositionsofaseparateprincipalbusinessoraseparateprincipaloperatingarea;
(3)Thecomponentisasubsidiaryacquiredexclusivelyforresale.Gainsandlossesfromcontinuingoperationsandgainsandlossesfromdiscontinuedoperationsarepresentedseparatelyintheincomestatement.Operatinggainsandlosses,suchasimpairmentlossesandreversalamountsfordiscontinuedoperations,andgainsandlossesondisposalsarepresentedasgainsandlossesfromdiscontinuedoperations.Fordiscontinuedoperationspresentedinthecurrentperiod,theCompanyrestatestheinformationoriginallypresentedasprofitorlossfromcontinuingoperationsasprofitorlossfromdiscontinuedoperationsforthecomparableaccountingperiodinthecurrentperiod'sfinancialstatements.
19.Long-termequityinvestments
√Applicable□Non-applicable
1.JointcontrolorsignificantinfluencecriteriaJointcontrolisthecontractuallyagreedsharingofcontrolofanarrangement,andexistsonlywhenrequiringtheunanimousconsentofthepartiessharingcontrolbeforemakingdecisionsabouttherelevantactivitiesofthearrangement.TheCompanytogetherwiththeotherjointventurepartiescanjointlycontrolovertheinvesteeandareentitledtotherightofthenetassetsoftheinvestee,astheinvesteeisjointventureoftheCompany.
Significantinfluencereferstothepowertoparticipateinmakingdecisionsonthefinancialandoperatingpoliciesofanenterprise,butnotthepowertocontrol,orjointlycontrol,theformulationofsuchpolicieswithotherparties.WheretheCompanycanexercisesignificantinfluenceovertheinvestee,theinvesteeisanassociateoftheCompany.
2.Determinationofinitialinvestmentcost
(1)Long-termequityinvestmentsformedthroughbusinesscombinationofentities
Forlong-termequityinvestmentinasubsidiarygeneratedduetobusinesscombinationsinvolvingentitiesundercommoncontrol,theshareofthebookvalueintheconsolidatedfinancialstatementsoftheultimatecontrollingpartyonthedateofcombinationsshallbetakenastheinitialinvestmentcostofthelong-termequityinvestments.Fordifferencebetweentheinitialcostoflong-termequityinvestmentandthebookvalueoftheconsiderationpaid,adjustmentsshallbemadetotheequitypremiumsinthecapitalreserve.Whentheequitypremiumsinthecapitalreservearenotsufficientforwrite-down,theretainedearningsshallbeadjusted.Wherecontrolovertheinvesteeundercommoncontrolisavailableduetoadditionalinvestmentorotherreasons,fordifferencebetweentheinitialcostoflong-termequityinvestmentrecognizedinaccordancewiththeaboveprinciples,andthesumofthebookvalueoflong-termequityinvestmentpriortothecombinationandthebookvalueofnewlypaidconsiderationfortheacquisitionoffurthersharesonthedateofcombination,adjustmentsshallbemadetoequitypremiums.Whentheequitypremiumsarenotsufficientforwrite-down,theretainedearningsshallbewrittendown.
Forlong-termequityinvestmentinasubsidiarygeneratedduetobusinesscombinationsinvolvingentitiesnotundercommoncontrol,thecostofthecombinationrecognizedonthedateofcombinationshallbetakenastheinitialinvestmentcostofthelong-termequityinvestments.Inrelationtoimposingcontrolovertheinvesteenotundercommoncontrolasaresultofadditionalinvestmentandother
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reasons,theinitialinvestmentshallbethesumofthebookvalueoftheequityinvestmentoriginallyheldandthenewlyincreasedinvestmentcost.
(2)Long-termequityinvestmentsacquiredbymeansotherthanbusinesscombinationTheinitialcostofalong-termequityinvestmentobtainedbycashpaymentshallbethepurchasecostsactuallypaid.Theinitialcostofinvestmentofalong-termequityinvestmentobtainedbymeansofissuanceofequitysecuritiesshallbethefairvalueoftheequitysecuritiesissued.
3.Subsequentmeasurementandrecognitionofprofitorloss
(1)Long-termequityinvestmentcalculatedbycostmethodLong-termequityinvestmentinsubsidiariesofthecompanyiscalculatedbycostmethod,unlesstheinvestmentmeetstheconditionsforholdingforsale.exceptfortheactualconsiderationpaidfortheacquisitionofinvestmentorthedeclaredbutnotyetdistributedcashdividendsorprofitswhichareincludedintheconsideration,investmentgainsarerecognizedastheCompany'sharesofthecashdividendsorprofitsdeclaredbytheinvestee.
(2)Long-termequityinvestmentaccountedforbyequitymethod
Long-termequityinvestmentsofassociatesandjointlycontrolledentitiesarecalculatedusingequitymethod.Wheretheinitialinvestmentcostexceedstheinvestment,thedifferencebetweentheshareofthefairvalueoftheinvestee’sidentifiablenetassetsshallbeenjoyedandnoadjustmentshallbemadetotheinitialinvestmentcostoflong-termequityinvestment;wheretheinitialinvestmentcostislessthantheinvestment,thedifferencebetweentheshareofthefairvalueoftheinvestee’sidentifiablenetassetsshallbeenjoyedandbeincludedincurrentprofitorloss,andadjustmentsshallbemadetotheinitialinvestmentcostoflong-termequityinvestment.TheCompanyrecognizestheinvestmentincomeandothercomprehensiveincomeaccordingtothesharesofnetprofitorlossandothercomprehensiveincomerealizedbytheinvesteewhichitshallbeentitledorsharedrespectively,andsimultaneouslymakesadjustmenttothebookvalueoflong-termequityinvestments;thebookvalueoflong-termequityinvestmentshallbereducedbyattributableshareoftheprofitorcashdividendsfordistributiondeclaredbytheinvestee;inrelationtootherchangesofowner'sequityexceptfornetprofitsandlosses,othercomprehensiveincomeandprofitdistributionsoftheinvestee(hereinafterreferredtoas"changesinotherowners'equity"),thebookvalueoflong-termequityinvestmentsshallbeadjustedandincludedinowner'sequity.Whenrecognizingtheamountofproportionofnetprofitorloss,othercomprehensiveincomeandotherchangesofowner’sequity,intheinvesteewhichitentitles,fairvalueoftheidentifiableassetsoftheinvesteeatthetimewhentheinvestmentisobtainedshallbeusedasbasis,andadjustmentshallbemadetothenetprofit,othercomprehensiveincomeandothersoftheinvesteeinaccordancewiththeaccountingpoliciesandaccountingperiodoftheCompany.
TheunrealizedprofitorlossresultingfrominternaltransactionsbetweentheCompanyanditsassociateorjointventureshallbeoffsetinportiontoitsequityinterests,basedonwhichinvestmentincomeshallberecognized,exceptwhentheassetsinvestedorsoldconstitutetransaction.Anylossesresultingfromtransactions,whichareattributabletoimpairmentofassets,shallbefullyrecognized.
TheCompanyshallbeliablefornetlossincurredbytheCompanytothejointventureorassociate,andshallwriteitdowntozerowiththebookvalueofthelong-termequityinvestmentandotherlong-termequitywhichsubstantiallyconstitutenetinvestmentinthejointventureorassociate.Whereajointventureorassociatelaterrealizesnetprofits,theCompanyshallresumerecognitionofitsshareofincomeaftertheshareofincomehasmadeupfortheunrecognizedshareofloss.
(3)Disposaloflong-termequityinvestments
Fordisposaloflong-termequityinvestment,thedifferencebetweenthebookvalueandtheconsiderationactuallyreceivedshallbeincludedinthecurrentprofitorloss.
Forlong-termequityinvestmentsaccountedbypartialequitydisposalmethod,theremainingequityisstillaccountedbytheequitymethod.Othercomprehensiveincomerecognizedbytheoriginalequitymethodshallbecarriedforwardinacorrespondingproportiononthesamebasisasthedirectdisposalofrelatedassetsorliabilitiesbytheinvestee.Changesintheinterestsoftheownersarecarriedforwardtothecurrentprofitandlossonaproratiobasis.
Whenlosingjointcontrolorsignificantinfluenceovertheinvesteeduetodisposalofequityinvestmentorotherreasons,othercomprehensiveincomeoftheoriginalequityinvestmentrecognizedaccountedbyequitymethodshallbetreatedusingthesamebasisasthedirectdisposalofrelatedassets
2024
orliabilitiesbytheinvesteeupontheterminationoftheuseofequitymethods.Otherchangesofowner’sequityshallbeconvertedtothecurrentprofitorlossupontheterminationofuseofequitymethods.Whenlosingthecontrolovertheinvesteeduetopartiallydisposalofequityinvestmentandotherreasons,theremainingequitiesafterdisposalshallbeaccountedforunderequitymethodinpreparationofindividualfinancialstatementsprovidedthatjointcontrolorsignificantinfluenceovertheinvesteecanbeimposed,andshallbeadjustedasifsuchremainingequitieshasbeenaccountedforundertheequitymethodsincetheyareobtained.Othercomprehensiveincomerecognizedpriortotheacquisitionofcontrolsovertheinvesteeshallbecarriedoverproportionallyusingthesamebasisasthedirectdisposalofrelatedassetsorliabilitiesbytheinvestee.Otherchangesofowner’sequityduetotheuseofequitymethodshallbecarriedoverintothecurrentprofitorlossproportionally.Wheretheremainingequitiesafterdisposalcannotimposejointcontrolorsignificantinfluenceovertheinvestee,itshallberecognizedasfinancialasset,andthedifferencebetweenfairvalueandthebookvalueonthedateoflosingcontrolshallbeincludedinthecurrentprofitorloss.Alltheothercomprehensiveincomesandotherchangesofowners’equityrecognizedpriortotheacquisitionofcontrolsovertheinvesteeshallbecarriedover.
Whenlosingcontroloverasubsidiaryinstep-by-stepdisposalofitsequityintereststhroughmultipletransactionsisrecognizedasapackagedeals,thesetransactionsshallbeinaccountingtreatedaslossofcontrolofasubsidiaryindisposalofequityinterests.Thedifferencesbetweenpriceoneachdisposalpriortolossofcontrolandthelong-termequityinvestmentbookvalueofthedisposedequityshallberecognizedasothercomprehensiveincomeinindividualfinancialstatements,andincludedinthecurrentprofitorlosswhenthecontrolislost.Transactionsnotrecognizedasapackagedealshallbeaccountedforseparately.
20.Investmentproperty
Investmentpropertyreferstotherealestateheldtogeneraterentalincomeorcapitalappreciation,orboth,includingleasedlanduserights,landuserightsheldfortransferafterappreciation,andleasedbuildings(includingbuildingsthatareleasedaftercompletionofself-constructionordevelopmentactivitiesandbuildingsinconstructionordevelopmentthatareusedforrentalinthefuture).Forinvestmentpropertymeasuredatcost-buildingsheldforleasingshalladoptthesamedepreciationpolicyforfixedassetsofthecompany,landuserightsheldforleasingshalladoptthesameamortizationpolicyfortheintangibleassets.
21.Fixedassets
(1).Conditionsforrecognition
√Applicable□Non-applicable
Fixedassetsaretangibleassetsthatareheldforuseintheproductionorsupplyofgoodsorservices,forrentaltoothers,orforadministrativepurposes;andhaveaservicelifeofmorethanoneaccountingyear.Fixedassetisrecognizedwhenitmeetsthefollowingconditions:
(1)Itisprobablethattheeconomicbenefitsassociatedwiththefixedassetwillflowtotheenterprise;
(2)Itscostcanbereliablymeasured.
Fixedassetsareinitiallymeasuredatcost(withtheinfluenceofexpecteddisposalcoststakenintoconsideration).
Subsequentexpendituresrelatedtofixedassetsshallbeincludedinthecostoffixedassetswhentherelevanteconomicbenefitsarelikelytoflowinandthecostcanbemeasuredreliably;thebookvalueofthereplacedpartisderecognized;othersubsequentexpendituresshallbeincludedincurrentprofitorlossatthetimeofoccurrence.
(2).Methodsfordepreciation
√Applicable□Non-applicable
| Category | DepreciationMethod | UsefulLivesofDepreciation | ResidualRatio | AnnualDepreciation |
| Housingand | Straight-line | 20 | 10 | 4.50 |
2024
| building | method | |||
| Machineryandequipment | Straight-linemethod | 5-10 | 10 | 18.00-9.00 |
| Meansoftransportation | Straight-linemethod | 5 | 10 | 18.00 |
| Officeequipmentandothers | Straight-linemethod | 5 | 10 | 18.00 |
| Buildingsforcommercialuse | Straight-linemethod | Landusecertificateindicatestheremainingyearsbutnolongerthan40years | 10 | |
| PVengineeringproject | Straight-linemethod | 20 | 10 | 4.50 |
22.Projectsunderconstruction
√Applicable□Non-applicableProjectsunderconstructionismeasuredattheactualcostsincurred.Theactualcostincludesconstructioncosts,installationcosts,borrowingcoststhatmeetthecapitalizationconditions,andothernecessaryexpendituresincurredbeforetheconstructioninprogressreachesitsintendedusestatus.Projectsunderconstructionreachingpredeterminedserviceableconditionsshallbeconvertedtofixedassetsandbegincountingfordepreciationthefollowingmonth.ThecriteriaandpointoftimeforcarryingforwardtheCompany'sconstructioninprogresstofixedassetsareasfollows:
| Category | Criteriaandtimepointforconversiontofixedassets |
| Constructionworkssuchasbuildings | (1)Themainconstructionworksandsupportingworkshavebeencompleted;(2)Iftheconstructionworkshavereachedthestateofintendedusebutthefinalaccounthasnotyetbeenfinalized,theconstructionworksshallbetransferredtofixedassetsattheestimatedvaluebasedontheactualcostoftheworksfromthedateofreachingthestateofintendeduse. |
| Installationofmachineryandequipment,etc. | (1)Relevantequipmentandotherancillaryfacilitieshavebeeninstalled;(2)theequipmentcanmaintainnormalandstableoperationforacertainperiodoftimeafterdebugging;and(3)theequipmenthasbeenacceptedbyassetmanagementpersonnelandusers. |
23.Borrowingcosts
√Applicable□Non-applicable
1.CriteriaforrecognitionofcapitalizedborrowingcostsForborrowingcostsincurredbytheCompanythataredirectlyattributabletotheacquisition,constructionorproductionofassetsqualifiedforcapitalization,thecostswillbecapitalizedandincludedinthecostsoftherelatedassets.Otherborrowingcostsshallberecognizedasexpenseintheperiodinwhichtheyareincurredandincludedinprofitorlossforthecurrentperiod.
Assetsqualifiedforcapitalizationareassets(fixedassets,investmentproperty,inventories,etc.)thatnecessarilytakeasubstantialperiodoftimeforacquisition,constructionorproductiontogetreadyfortheirintendeduseorsale.
2.Capitalizationperiodofborrowingcosts
Thecapitalizationperiodshallrefertotheperiodbetweenthecommencementandthecessationofcapitalizationofborrowingcosts,excludingtheperiodinwhichcapitalizationofborrowingcostsistemporarilysuspended.
2024
Capitalizationofborrowingcostsbeginswhenthefollowingthreeconditionsarefullysatisfied:
(1)Expendituresfortheassets(includingcashpaid,transferrednon-currencyassetsorexpenditureforholdingdebtliabilityfortheacquisition,constructionorproductionofassetsqualifiedforcapitalization)havebeenincurred;
(2)Borrowingcostshavebeenincurred;
(3)Acquisition,constructionorproductionthatarenecessarytoenabletheassetreachitsintendedusableorsalableconditionhavecommenced.Capitalizationofborrowingcostsshallbesuspendedduringperiodsinwhichthequalifyingassetunderacquisitionandconstructionorproductionreadyfortheintendeduseorsale.
3.SuspensionofcapitalizationperiodCapitalizationofborrowingcostsshallbesuspendedduringperiodsinwhichtheacquisition,constructionorproductionofaqualifyingassetisinterruptedabnormally,whentheinterruptionisforacontinuousperiodofmorethan3months;iftheinterruptionisanecessarystepformakingthequalifyingassetunderacquisitionandconstructionorproductionreadyfortheintendeduseorsale,thecapitalizationoftheborrowingcostsshallcontinue.Theborrowingcostsincurredduringsuchperiodshallberecognizedasprofitsandlossesofthecurrentperiod,borrowingcostscontinuetobecapitalizeduntiltheacquisitionandconstructionoftheassetortherecommencementofproductionactivities.
4.CalculationofcapitalizationrateandamountofborrowingcostsSpecificborrowingsfortheacquisition,constructionorproductionofassetsqualifiedforcapitalization,borrowingcostsofthespecificborrowingsactuallyincurredinthecurrentperiodminustheinterestincomeearnedontheunusedborrowingloansasadepositinthebankorasinvestmentincomeearnedfromtemporaryinvestmentwillbeusedtodeterminetheamountofborrowingcostsforcapitalization.
Generalborrowingsfortheacquisition,constructionorproductionofassetsqualifiedforcapitalization,theto-be-capitalizedamountofinterestsonthegeneralborrowingshallbecalculatedanddeterminedbymultiplyingtheweightedaverageassetdisbursementofthepartoftheaccumulativeassetdisbursementsminusthespecificallyborrowedloansbythecapitalizationrateofthegeneralborrowingused.Thecapitalizationrateshallbecalculatedanddeterminedaccordingtotheweightedaverageinterestrateofthegeneralborrowing.
Duringtheperiodofcapitalization,theexchangebalanceontheprincipalsandinterestsofspecialforeigncurrencyborrowingsshallbecapitalizedandshallbeincludedinthecostofassetseligibleforcapitalization.Theexchangebalanceontheprincipalsandinterestsofforeigncurrencyborrowingsotherthanthespecialforeigncurrencyborrowingsshallbeincludedincurrentprofitorloss.
24.Biologicalassets
□Applicable√Non-applicable
25.Oilandgasassets
□Applicable√Non-applicable
26.Intangibleassets
(1).Usefullifeandthebasisforitsdetermination,estimationstatus,amortizationmethodorreviewprocedure
√Applicable□Notapplicable
1.Intangibleassetsareinitiallymeasuredatcostuponacquisition
(1)Intangibleassetsareinitiallymeasuredatcostuponacquisition
Thecostsofanexternallypurchasedintangibleassetincludethepurchaseprice,relevanttaxesandexpensespaid,andotherexpendituresdirectlyattributabletoputtingtheassetintoconditionforitsintendeduse.
(2)Subsequentmeasurement
Theservicelifeofintangibleassetsshallbeanalyzedandjudgeduponacquisition.
2024
Asforintangibleassetswithafiniteservicelife,theyareamortizedusingthestraight-linemethodovertheterminwhicheconomicbenefitsarebroughttothefirm;Iftheterminwhicheconomicbenefitsarebroughttothefirmbyanintangibleassetcannotbeestimated,theintangibleassetshallbetakenasanintangibleassetwithindefiniteservicelife,andshallnotbeamortized.
2.Estimatedusefullivesfortheintangibleassetswithfiniteservicelife
| Item | Estimatedusefullives | AmortizationMethod | Basis |
| Landuserights | 38-50years | Straight-linemethod | Landusecertificate |
| Software | 2-10years | Straight-linemethod | Expectedbenefitedperiod |
| Emissionrights | 5years | Straight-linemethod | Emissionpermits |
3.Basisforthejudgmentofintangibleassetswithuncertainservicelifeandtheprocedureforreviewingtheirservicelife
AsofDecember31,2024,theCompanyhasnointangibleassetswithuncertainusefullife.
(2).ScopeofattributionofR&Dexpendituresandrelatedaccountingtreatment
√Applicable□Notapplicable
1.Scopeofresearchanddevelopmentexpenditure
ExpendituresincurredbytheCompanyinthecourseofconductingresearchanddevelopment(R&D)includerelevantemployeeremunerationforpersonnelengagedinR&Dactivities,consumablematerials,relevantdepreciationandamortizationexpensesandotherrelatedexpenditures,andaresummarizedinthefollowingmanner:
Employeeremunerationrelatedtopersonnelengagedinresearchanddevelopmentactivitiesmainlyreferstotheemployeeremunerationrelatedtopersonneldirectlyengagedinresearchanddevelopmentactivitiesaswellasmanagementpersonnelanddirectservicepersonnelcloselyrelatedtoresearchanddevelopmentactivities,consumablematerialsmainlyreferstotherelevantmaterialsdirectlyinvestedinresearchanddevelopmentactivities,andrelateddepreciationandamortizationexpensesmainlyreferstothedepreciationoramortizationoffixedassetsorintangibleassetsusedinresearchanddevelopmentactivities.
2.Specificcriteriaforthedivisionofresearchphaseanddevelopmentphase
TheexpensesforinternalresearchanddevelopmentprojectsoftheCompanyaredividedintoexpensesintheresearchphaseandexpensesinthedevelopmentphase.
Researchphase:Scheduledinnovativeinvestigationsandresearchactivitiestoobtainandunderstandscientificortechnologicalknowledge.
Developmentphase:Applytheresearchoutcomesorotherknowledgetoaplanordesignpriortoacommercialproductionoruseinordertoproduceneworessentially-improvedmaterials,devices,products,etc.
3.Specificconditionforcapitalizingexpenditureduringthedevelopmentphase
Expensesintheresearchphasearerecordedintotheprofitsandlossesforthecurrentperiodwhentheyoccur.Expenditureduringthedevelopmentphasethatsimultaneouslysatisfiesthefollowingconditionsshallberecognizedasintangibleassets.Otherwiseshallbeincludedincurrentprofitorloss:
(1)Itistechnicallyfeasibletocompletesuchintangibleassetsothatitwillbeavailableforuseorforsale;
(2)Thereisintentiontocompletetheintangibleassetforuseorsale;
(3)Theintangibleassetcanproduceeconomicbenefits,includingthereisevidencethattheproductsproducedusingtheintangibleassethasamarketortheintangibleassetitselfhasamarket;iftheintangibleassetisforinternaluse,thereisevidencethatthereexistsusagefortheintangibleasset;
(4)Thereissufficientsupportintermsoftechnology,financialresourcesandotherresourcesinordertocompletethedevelopmentoftheintangibleasset,andthereiscapabilitytouseorselltheintangibleasset;
2024
(5)Theexpensesattributabletothedevelopmentstageoftheintangibleassetcanbemeasuredreliably.TheR&Dexpendituresincurredshallbeincludedincurrentprofitorlossifitisimpossibletodistinguishexpenditureduringtheresearchphaseandexpenditureduringthedevelopmentphase.
27.Impairmentoflong-termassets
√Applicable□Non-applicable
Long-termassets,suchaslong-termequityinvestment,investmentproperties,fixedassetsandconstructioninprogressthatmeasuredatcost,right-of-useassets，andintangibleassetswithlimitedservicelife,aretestedforimpairmentifthereisanyindicationthatanassetmaybeimpairedonthebalancesheetdate.Iftheresultoftheimpairmenttestindicatesthattherecoverableamountoftheassetislessthanitsbookvalue,aprovisionforimpairmentandanimpairmentlossarerecognizedfortheamountbywhichtheasset'sbookvalueexceedsitsrecoverableamount.Therecoverableamountisthehigherofanasset'sfairvaluelesscoststosellandthepresentvalueofthefuturecashflowsexpectedtobederivedfromtheasset.Provisionforassetimpairmentisdeterminedandrecognizedontheindividualassetbasis.Ifitisnotpossibletoestimatetherecoverableamountofanindividualasset,therecoverableamountofagroupofassetstowhichtheassetbelongstoisdetermined.Agroupofassetsisthesmallestgroupofassetsthatisabletogeneratecashinflowsindependently.Goodwillformedduetobusinesscombination,intangibleassetswithuncertainservicelifeandintangibleassetsthathavenotyetreachedserviceableconditions,shallbetestedforimpairmentatleastattheendofeachyear,regardlessofwhetherthereisanyindicationofimpairment.
WhentheCompanycarryoutimpairmenttesttogoodwill,theCompanyshall,asofthepurchasingday,allocateonareasonablebasisthebookvalueofthegoodwillformedbymergerofenterprisestotherelevantassetgroups,orifthereisadifficultyinallocation,toallocateittothesetsofassetgroups.Therelevantassetgrouporcombinationofassetgroupsistheassetgrouporcombinationofassetgroupsthatcanbenefitfromthesynergiesofbusinesscombination.
Forthepurposeofimpairmenttestontherelevantassetgroupsorthesetsofassetgroupscontaininggoodwill,ifanyevidenceshowsthattheimpairmentofassetgroupsorsetsofassetgroupsrelatedtogoodwillispossible,animpairmenttestwillbemadefirstontheassetgroupsorsetsofassetgroupsnotcontaininggoodwill,thuscalculatingtherecoverableamountandcomparingitwiththerelevantbookvaluesoastorecognizethecorrespondingimpairmentloss.Assetgrouporcombinationofgroupassetscontaininggoodwillaretestedforimpairmentandthebookvalueandrecoverableamountshallbecompared.Iftherecoverableamountislessthanthebookvalue,theamountofimpairmentlossshallbedeductedandapportionedtothebookvalueofgoodwillinassetgrouporcombinationofassetgroups,beforedeductingtothebookvalueofallotherassetsproportionallybasedontheproportionofthebookvalueofallassetsotherthangoodwillintheassetgrouporcombinationofassetgroups.
Oncetheaboveassetimpairmentlossisrecognized,itwillnotbereversedinthesubsequentaccountingperiods.
28.Long-termprepaidexpenses
√Applicable□Non-applicable
Long-termprepaidexpensesareexpenseswhichhaveoccurredbutwillbenefitover1yearandshallbeamortizedoverthecurrentperiodandsubsequentperiods.
Theamortizationperiodandamortizationmethodforeachexpenseis:
| Item | AmortizationMethod | Amortizationperiod |
| Renovationcost | Straight-linemethod | 5years |
| Others | Straight-linemethod | 3-5years |
2024
29.Contractliabilities
√Applicable□Non-applicableTheCompanyshallshowthecontractassetsorcontractliabilitiesinthebalancesheetinaccordancewiththerelationshipbetweentheperformanceofthecontractobligationsandtheCustomerpayment.TheCompany’sobligationtotransfergoodsorprovideservicestocustomersforwhichconsiderationhasbeenreceivedorreceivablearepresentedascontractualliabilities.Contractassetsandcontractliabilitiesunderthesamecontractshallbeshownonanetbasis.
30.Employeeremuneration
(1).Accountantarrangementmethodofshort-termremuneration
√Applicable□Non-applicable
Duringtheaccountingperiodwhenthestaffprovidesservice,theCompanywillrecognizetheshort-termremunerationactuallyincurredasliabilities,andtheliabilitieswouldbechargedintocurrentprofitsandlossorcostsofassets.TheCompanywillpaysocialinsuranceandhousingfunds,andwillmakeprovisionoftradeunionfundsandstaffeducationcostsinaccordancewiththerequirements.Duringtheaccountingperiodwhenthestaffprovidesservice,theCompanywilldeterminetherelevantamountofemployeebenefitsinaccordancewiththerequiredprovisionbasisandprovisionratios.TheexpensesonemployeebenefitincurredbytheCompanyshallbeincludedinthecurrentprofitorlossorrelatedassetcostbasedontheactualamountwhenactuallyincurred,andthenon-monetarybenefitshallbemeasuredatitsfairvalue.
(2).Accountingtreatmentmethodofretirementbenefitplan
√Applicable□Non-applicable
(1)Definedcontributionplan
TheCompanywillpaybasicpensioninsuranceandunemploymentinsuranceinaccordancewiththerelevantprovisionsofthelocalgovernmentforthestaff.Duringtheaccountingperiodwhenthestaffprovidesservice,theCompanywillcalculatetheamountpayableinaccordancewiththelocalstipulatedbasisandproportionswhichwillberecognizedasliabilities,andtheliabilitieswouldbechargedintocurrentprofitsandlossorcostsofassets.
(2)Definedbenefitplan
Thewelfareresponsibilitiesgeneratedfromdefinedbenefitschemebasedontheformuladeterminedbyprojectedunitcreditmethodwouldbevestedtotheserviceperiodofthestaffandchargedintocurrentprofitsandlossorcostsofassets.
Thedeficitorsurplusformedbythepresentvalueofobligationsofthedefinedbenefitplanminusthefairvalueoftheassetsofthedefinedbenefitplanisrecognizedasanetliabilityornetassetofthedefinedbenefitplan.Ifthereisasurplusinthedefinedbenefitplan,theCompanyshallusethelowerofthesurplusofthedefinedbenefitplanandtheassetceilingtomeasurethenetassetsofthedefinedbenefitplan.
Alldefinedbenefitplanobligations,includingobligationsexpectedtobepaidwithintwelvemonthsaftertheendoftheannualreportingperiodinwhichemployeesrenderservices,arediscountedatthemarketrateofreturninrespectofthenationaldebtsmatchingthetermandcurrencyofthedefinedbenefitplan,orinrespectofhigh-qualitycorporatebondsavailableontheactivemarketonthebalancesheetdate.
Theservicecostincurredbythedefinedbenefitplanandthenetinterestofthenetliabilitiesornetassetsofthedefinedbenefitplanareincludedinthecurrentprofitandlossortherelatedassetcost;thechangesinthenetliabilitiesornetassetsofthedefinedbenefitplanarerecordedinothercomprehensiveincome,anditwillnotbereversedtoprofitorlossinthesubsequentaccountingperiod.Whentheoriginaldefinedbenefitplanisterminated,allthatoriginallyincludedinothercomprehensiveincomewillbecarriedforwardtoundistributedprofitwithinthescopeofequity.
2024
Atthesettlementofthedefinedbenefitplan,thegainorlossfromthesettlementisrecognizedbythedifferencebetweenthepresentvalueoftheobligationofthedefinedbenefitplanandthesettlementpricedeterminedonthesettlementdate.
(3).Accountantarrangementmethodofterminationbenefits
√Applicable□Non-applicable
WheretheCompanypaysterminationbenefittoemployees,theliabilitiesofemployeeremunerationgeneratedbyterminationbenefitshallberecognizedattheearlierofthefollowingdateandincludedinthecurrentprofitorloss:whenthecompanycannotunilaterallywithdrawterminationbenefitprovidedbylaborrelationshipterminationplanorlayoffproposal;whentheCompanyrecognizescostsorexpensesrelatedtoarestructuringofthepaymentofterminationbenefits.
(4).Accountantarrangementmethodofotherlong-termemployeebenefits
□Applicable√Non-applicable
31.Estimatedliabilities
√Applicable□Non-applicable
Theobligationsrelatedtocontingenciesinthesatisfactionofallofthefollowingconditionswillberecordedasestimatedliabilities:
(1)Theobligationisthecurrentobligationundertakenbythecompany;
(2)Thefulfillmentofthisobligationislikelytoresultintheoutflowofeconomicbenefitsfromthecompany;
(3)Theamountoftheobligationcanbereliablymeasured.
Estimatedliabilitiesareinitiallymeasuredbasedonthebestestimateoftheexpenditurerequiredtofulfilltherelevantcurrentobligations.
Onfixingthebestestimate,certainfactorssuchasrisks,uncertaintiesandtimevalueofmoneyinconnectionwithcontingenciesshallbeconsideredinfullaspects.Ifthetimevalueofmoneyhasasignificantimpact,thebestestimateisfixedafterdiscountingtherelevantfuturecashoutflows.
Ifthereisacontinuousrangeofrequiredexpenditures,andthelikelihoodofoccurrenceofvariousoutcomeswithinthisrangeisthesame,thebestestimateshallbefixedatthemedianvaluewithintherange;inothercircumstances,thebestestimateshallbetreatedas:
?Ifacontingencyinvolvesoneitem,itshallbefixedaccordingtothemostlikelyamount.
?Ifacontingencyinvolvesmorethanoneitems,itshallbecalculatedandfixedaccordingtovariouspossibleresultsandrelatedprobabilities.
Ifallorpartoftheexpenditurerequiredtopayofftheestimatedliabilityisexpectedtobecompensatedbyathirdparty,thecompensationamountshallberecognizedasanassetseparatelywhenvirtuallyconfirmedthatitcanbereceived,andthecompensationamountrecognizedmustnotexceedthebookvalueoftheestimatedliability.
Thecompanyshallreviewthebookvalueofestimatedliabilitiesonthebalancesheetdate.Ifthereisconclusiveevidencethatthebookvaluecannotreflectthecurrentbestestimate,thebookvalueshallbeadjustedaccordingtothecurrentbestestimate.
32.Share-basedpayment
□Applicable√Non-applicable
33.Preferenceshares,perpetualbondsandotherfinancialinstruments
□Applicable√Non-applicable
34.Revenue
(1).Disclosureofaccountingpoliciesusedforrevenuerecognitionandmeasurementbytypeofbusiness
√Applicable□Non-applicable
2024
1.AccountingpoliciesforrevenuerecognitionandmeasurementTheCompanyhasfulfilleditscontractualobligationtorecognizeincomewhentheCustomerobtainscontrolovertherelevantgoodsorservices.Obtainingcontroloverrelatedgoodsorservicesmeanstobeabletodominatetheuseofthegoodsorservicesandobtainvirtuallyalleconomicbenefitsfromit.
WheretheContractcontainstheperformanceoftwoormoreobligations,theCompanyshall,onthecommencementdateoftheContract,apportionthetransactionpricetoeachindividualperformanceobligationonthebasisoftherelativeproportionoftheindividualsellingpriceofthegoodsorservicecommittedbyeachindividualperformanceobligation.TheCompanyshallmeasureitsincomeonthebasisofthetransactionpriceapportionedtoeachindividualperformanceobligation.ThetransactionpricereferstotheamountofconsiderationtheCompanyisexpectedtobeentitledtoreceiveforthetransferofgoodsorservicestotheCustomer,excludingpaymentsreceivedonbehalfofthirdpartiesandtheamountsexpectedtoberefundedtotheCustomer.TheCompanydeterminesthetransactionpriceinaccordancewithContracttermsandbytakingintoconsiderationitspastpractices.Indeterminingthetransactionprice,ittakesintoconsiderationtheimpactofvariableconsideration,materialfinancingelementsintheContract,non-cashconsideration,considerationpayabletocustomersandotherfactors.TheCompanydeterminesthetransactionpricethatincludesthevariableconsiderationatanamountnotexceedingtheamountofaccumulatedrecognizedincomewhichisnotlikelytobemateriallyreversedwhentherelevantuncertaintyiseliminated.WherethereismaterialfinancingcomponentsintheContract,theCompanyshalldeterminethetransactionpriceonthebasisoftheamountpayablebasedontheassumptionthattheCustomerpaysincashuponobtainingcontroloverthegoodsorservices,andshallamortizethedifferencebetweenthetransactionpriceandtheContractconsiderationbyeffectiveinterestmethodduringtheContractperiod.
Itshallbedeemedasfulfillingperformanceobligationwithinacertainperiodoftimeifoneofthefollowingconditionsissatisfied.Otherwise,itshallbedeemedasfulfillingperformanceobligationatacertainpointintime:
?TheCustomerobtainsandconsumestheeconomicbenefitsarisingfromtheCompany'sperformanceofobligationsatthesametimeofthattheCompanyperformitsobligations.
?TheCustomercancontrolthegoodsunderconstructionduringtheprocessthattheCompanyperformitsobligations.
?TheproductproducedbytheCompanyduringtheperformanceofitsobligationsisirreplaceableinuse,andtheCompanyshallbeentitledtoreceivepaymentfortheaccumulatedpartoftheperformancecompletedsofarduringthewholeContractperiod.
Forobligationsperformedwithinacertainperiodoftime,theCompanyshallrecognizeincomeonthebasisoftheperformanceprogressduringthatperiod,exceptwhentheperformanceprogresscannotbereasonablydetermined.TheCompanywilladoptoutputmethodorinputmethodtodeterminetheperformanceprogressbytakingthenatureofthegoodsorservicesintoconsideration.Wheretheperformanceprogresscannotbereasonablydeterminedandthecostsincurredareexpectedtobecompensated,theCompanyshallrecognizeincomeonthebasisofthecostsincurreduntiltheperformanceprogresscanbereasonablydetermined.
Forobligationsperformedatacertainpointoftime,theCompanyrecognizesincomeatthepointwhentheCustomerobtaincontroloverrelevantgoodsorservices.TheCompanytakesthefollowingindicationsintoconsiderationwhendeterminingwhethertheCustomerhasobtainedcontroloverrelevantgoodsorservices:
?TheCompanyisentitledtocollectpaymentinrespectofthegoodsorservicesimmediately,i.e.theCustomerisobligedtomakepaymentinrespectofthegoodsorservicesimmediately
?TheCompanyhastransferredlegalownershipofthegoodstotheCustomer,i.e.theCustomerhaslegalownershipofthegoods.
?TheCompanyhasphysicallytransferredthegoodstotheCustomer,i.e.theCustomerhasphysicallypossessedthegoods.
?TheCompanyhastransferredtheprincipalrisksandrewardsintheownershipofthegoodstotheCustomer,i.e.theCustomerhasobtainedtheprincipalrisksandrewardsintheownershipofthegoods.
?TheCustomerhasreceivedthegoodsorservices,etc.
ThedeterminationoftheCompany'sstatusaseitheraprincipallyliablepersonoranagentismadewhenenteringintoatransaction,dependingonwhetheritexercisescontroloverthegoodsorservicesbeforehandingthemovertothecustomer.IftheCompanyhastheabilitytocontrolthegoodsor
2024
servicesbeforetransferringthemtothecustomer,itisconsideredtheprincipalandrecordsrevenueaccordingtothetotalconsiderationreceivedorreceivable.Ontheotherhand,iftheCompanylackscontroloverthegoodsorservicesbeforetransferringthem,itisclassifiedasanagentandrecognizesrevenuebasedontheanticipatedcommissionsorfees.
2.Disclosureofspecificrevenuerecognitionandmeasurementmethodsbybusinesstype
(1)Domesticcompany
1)DomesticsalesForsalestodomesticcarmakers,thegoodsreceivedbycustomerandthenoticeofissuinganinvoiceistreatedasthetimepointofrevenuerecognition.Fordomesticafter-salesmarketsales,thetimeofdeliveryistreatedasthetimepointofrevenuerecognition.
2)Overseassales
Forgeneraltradesales,customsdeclarationandexportaretreatedastherevenueconfirmationtimepoint.ForthesalesbasedonDDUandDDPascontainedinthesalescontract,thetimeofarrivalatthedestinationandtheacknowledgmentofreceiptbycustomeristreatedasthetimepointofrevenuerecognition.
(2)Overseascompany
Thetimeofshipmentandtheacknowledgmentofreceiptbycustomeristreatedasthetimepointofrevenuerecognition.
(2).Differentbusinessmodelsadoptedforsimilarbusinessesleadingtodifferencesinrevenuerecognitionaccountingpolicies
□Applicable√Non-applicable
35.Contractcosts
√Applicable□Non-applicable
Contractcostsincludecontractperformancecostsandcontractacquisitioncosts.
TheCompanyrecognizesthecostsincurredforperformingthecontractandthatnotfallwithinthescopeofinventories,fixedassetsorintangibleassetsasstipulatedbyrelatedstandardsasanassetwhenthefollowingconditionsaremet:
?Thecostisdirectlyrelatedtoacurrentoranticipatedcontract.
?ThecostincreasestheCompany'sfutureresourcestoperformobligations.
?Thecostisexpectedtoberecovered
TheCompanyregardstheincrementalcostincurredtoacquirethecontractandthatareexpectedtoberecoveredascontractacquisitioncosts,andrecognizesthemasanasset.
Assetsrelatedtocontractcostsshallbeamortizedusingthesamebasisasincomerecognitionofgoodsorservicesrelatedtotheasset.However,theCompanyshallincludetheamountincurrentprofitorlossiftheamortizationperiodofthecontractacquisitioncostislessthanoneyear.
TheCompanyshalldrawanimpairmentprovisionfortheexcesspartwhenthebookvalueofanassetrelatedtothecontractcostishigherthanthedifferencebetweenthefollowingtwoitems,andrecognizeitasanimpairmentlossoftheasset:
1.Theremainingconsiderationexpectedtobeobtainedduetothetransferofgoodsorservicesrelatedtotheasset;
2.Estimatedcoststobeincurredforthetransferofgoodsorservicesrelatedtotheasset.
TheCompanyshallreversetheimpairmentprovisionwithdrawnandincludeitincurrentprofitorlossiftheimpairmentfactorsofthepreviousperiodchangeandcausetheaforementioneddifferencehigherthanthebookvalueoftheasset.However,thebookvalueoftheassetafterreverseshallnotexceedthebookvalueoftheassetonthereversedateundertheassumptionthatnoprovisionfortheimpairmentiswithdrawn.
36.Governmentsubsidies
√Applicable□Non-applicable
1.Type
2024
Governmentgrantsaremonetaryassetsandnon-monetaryassetsacquiredbytheCompanyfromthegovernmentfreeofcharge.Governmentgrantsareclassifiedintogovernmentgrantsrelatedtoassetsandgovernmentgrantsrelatedtorevenue.GovernmentgrantsrelatedtoassetsrefertogovernmentgrantsacquiredbytheCompanyforthepurposeofpurchasingorconstructingorotherwiseforminglong-termassets.Governmentgrantsrelatedtorevenuerefertothegovernmentgrantsotherthanthoserelatedtoassets.Governmentgrantsareclassifiedasassets-relatedunderthefollowingcriteria:
Governmentgrantsobtainedforpurchaseandconstructionorotherformsoflong-termassetsaredefinedasgovernmentgrantsrelatedtoassets;
Governmentgrantsareclassifiedasincome-relatedunderthefollowingcriteria:
Governmentgrantsotherthanassets-relatedgovernmentgrantsaredefinedasincome-relatedgovernmentgrants;
Ifthegovernmentdocumentshavenotyetspecifiedtheintendedsubjectsofgrants,theCompanywillclassifythegovernmentgrantsasasset-relatedorincome-relatedaccordingtothefollowingcriteria:
(1)Ifthegovernmentdocumentspecifiesaitemapplicabletothegrants,itshallbedividedaccordingtotherelativeproportionoftheexpenditureamountthatwillformtheassetandtheexpenditureamountincludedintheexpenseinthebudgetofthespecificitem,andthedivisionratioshallberecheckedamongeachbalancesheetdateandsubjecttoaifnecessary;
(2)Thegovernmentdocumentonlymakesageneralstatement,andnospecificitemisspecified,itisrecordedastheincome-relatedgovernmentgrants.
2.Confirmationoftimepoint
Governmentsubsidiesareconfirmedwhenthecompanycanmeetitsattachedconditionsandcanbereceived.
3.Accountingtreatment
Governmentgrantsrelatedtoassetsshallwriteoffthebookvalueofrelevantassetsorberecognizedasdeferredincome.Whenrecognizedasdeferredincome,thegovernmentgrantrelatedtoassetswillbeperiodbyperiodcreditedtotheprofitsandlossesofthecurrentperiodinareasonableandsystematicmannerwithintheservicelifeofrelevantassets(thoserelatedtotheCompany'sdailyactivitiesshallberecognizedasotherincome;thoseunrelatedtotheCompany'sdailyactivitiesshallberecognizedasnon-operatingincome).
Therevenue-relatedgovernmentgrantsshallberecognizedasdeferredincomeiftheyareusedtocompensaterelevantexpensesorlossesinsubsequentperiods,andtheyshallbeincludedinprofitandlossofthecurrentperiod(thoserelatedtoCompany'sroutineactivitiesshallbeincludedinotherincome;thoseunrelatedtotheCompany'sroutineactivitiesshallbeincludedinnon-operatingincome)orusedtooffsetrelevantexpensesorlossesduringtherecognitionofrelatedexpensesorlosses;thegrantsusedtocompensaterelatedexpensesorlossesincurredshallbeincludedinprofitandlossofthecurrentperiod(thoserelatedtoCompany'sroutineactivitiesshallbeincludedinotherincome;thoseunrelatedtotheCompany'sroutineactivitiesshallbeincludedinnon-operatingincome)orusedtooffsetrelevantexpensesorlosses.、
37.Deferredincometaxassets/deferredincometaxliabilities
√Applicable□Non-applicable
Incometaxincludescurrentincometaxanddeferredincometax.TheCompanywillincludecurrentincometaxanddeferredincometaxinthecurrentprofitorloss,exceptforincometaxarisingfrombusinesscombinationandtransactionoreventdirectlyincludedintheowners’equity(includingothercomprehensiveincome).
Deferredincometaxassetsanddeferredincometaxliabilitiesshallbecalculatedandrecognizedonthebasisofthedifference(temporarydifference)betweenthetaxbasisoftheassetsandliabilitiesandtheirbookvalue.
Deferredincometaxassetsarerecognizedtotheextentthatitisprobablethatfuturetaxableprofitswillbeavailableagainstwhichdeductibletemporarydifferencescanbeutilized.Fordeductiblelossesandtaxcreditsthatcanbereversedinthefutureperiod,deferredtaxassetsshallberecognizedtotheextentthatitisprobablethattaxableprofitwillbeavailableinthefuturetooffsetthedeductiblelossesandtaxcredits.
2024
Saveastheexceptions,deferredincometaxliabilitiesshallberecognizedforthetaxabletemporarydifference.Specialcircumstancesinwhichdeferredincometaxassetsordeferredincometaxliabilitiesarenotrecognizedinclude:
?Initialrecognitionofgoodwill;
?Transactionoreventthatisnotabusinesscombinationandwouldnotaffectaccountingprofitandtaxableincome(ordeductibleloss)atthetimeofoccurrence.
Fortaxabletemporarydifferencesrelatedtoinvestmentsinsubsidiaries,associatesandjointventures,deferredincometaxliabilityisrecognized,unlesstheCompanycancontrolthetimingofreversalofsuchtemporarydifferencesandsuchtemporarydifferencesarenotlikelytobereversedintheforeseeablefuture.Fordeductibletemporarydifferencesrelatedtotheinvestmentsofsubsidiaries,associatesandjointventures,deferredtaxassetisrecognizedwhenthetemporarydifferencesarelikelytobereversedintheforeseeablefutureandthetaxableincomeamountusedtooffsetthedeductibletemporarydifferencesislikelytobeobtainedinthefuture.
Deferredtaxassetsanddeferredtaxliabilitiesonthebalancesheetareevaluatedbasedontheanticipatedtaxratesthatwillbeapplicableduringtheperiodwhentheassociatedassetsarerecuperatedortheassociatedliabilitiesareresolved,inaccordancewiththeprevailingtaxregulations.
Onthebalancesheetdate,theCompanyreviewsthebookvalueofthedeferredincometaxassets.Thebookvalueofthedeferredincometaxassetwillbewrittendownifsufficienttaxableincomeisnotlikelytobeobtainedtooffsetthebenefitofthedeferredincometaxassetinthefutureperiod.Thewrite-downamountwillbereversedwhensufficienttaxableincomeislikelytobeobtained.
Aftergrantedthelegalrightsofnetsettlementandwiththeintentiontousenetsettlementorobtainassetsandrepaydebtatthesametime,thenetamountafteroffsettingitscurrentincometaxassetsandcurrentincometaxliabilitiesshallberecorded.
Onthebalancesheetdate,deferredincometaxassetsanddeferredincometaxliabilitiesshallbe,asstipulatedbytaxlaw,measuredbytheapplicabletaxrateoftheperiodofexpectedrecoveryoftherelevantassetsorsettlementoftherelevantliabilities.
?Thetaxpayerhasthelegalrighttosettlethecurrentincometaxassetsandcurrentincometaxliabilitiesonanetbasis;
?Deferredincometaxassetsanddeferredtaxliabilitiesarerelatedtotheincometaxtobepaidbythesameentityliabletopaytaxtothesametaxcollectionandmanagementauthorityorrelatedtodifferententitiesliabletopaytax.Therelevantentityliabletopaytaxisintendedtoapplynetsettlementofcurrentincometaxassetsandliabilitiesor,atthesametime,obtainassetsandrepaydebtineveryfutureperiodthatdeferredincometaxassetsandliabilitieswithimportancewouldbereversed.
38.Lease
√Applicable□Non-applicableJudgementalbasisandaccountingtreatmentofshort-termleasesandleasesoflow-valueassetsasasimplifiedtreatmentforlessee
√Applicable□Non-applicable
(1)Right-of-useassets
Onthestartdateoftheleaseterm,theCompanyrecognizestheright-of-useassetforleasesotherthanshort-termleasesandlow-valueassetleases.Right-of-useassetsareinitiallymeasuredatcost,whichincludes:
Theinitialmeasurementamountoftheleaseliability;Forleasepaymentspaidonorbeforethestartoftheleaseterm,ifthereisaleaseincentive,theamountoftheleaseincentivealreadyenjoyedisdeducted;
InitialdirectexpensesincurredbytheCompany;TheCompany'sestimatedcostfordismantlingandremovingtheleasedassets,restoringthesitewheretheleasedassetsarelocated,orrestoringtheleasedassetstothestateassetoutintheleasetermsandconditions,exceptforthecostsincurredfortheproductionofinventory.
TheCompanysubsequentlyusesthestraight-linemethodtodepreciatetheright-of-useassets.Ifitcanbereasonablydeterminedthattheownershipoftheleasedassetwillbeobtainedattheendoftheleaseterm,theCompanyshalldepreciatetheleasedassetovertheremainingusefullife;otherwise,the
2024
leasedassetwillbedepreciatedovertheleasetermortheremainingusefullifeoftheleasedasset,whicheverisshorter.TheCompanydetermineswhethertheright-of-useassethasbeenimpairedundertheprinciplesassetoutin"NoteV.27.Long-termassetimpairment",andperformsaccountingtreatmentfortheidentifiedimpairmentloss.
(2)LeaseliabilitiesOnthecommencementoftheleaseterm,theCompanyrecognizesleaseliabilitiesforleasesotherthanshort-termleasesandleasesoflow-valueassets.Leaseliabilitiesareinitiallymeasuredbasedonthepresentvalueoftheunpaidleasepayments.Leasepaymentsinclude:
Fixedpayment(includingtheactualfixedpayment),ifthereisaleaseincentive,therelevantamountoftheleaseincentivewillbededucted;
Variableleasepaymentsthatdependonanindexorrate;
Theamountexpectedtobepaidbasedontheresidualvalueoftheguaranteeprovidedbythecompany;
Theexercisepriceofthepurchaseoption,providedthattheCompanyreasonablydeterminesthatitwillexercisetheoption;
Theamounttobepaidtoexercisetheoptiontoterminatethelease,providedthattheleasetermreflectsthatthecompanywillexercisetheoptiontoterminatethelease.TheCompanytakestheinterestrateimplicitintheleaseasthediscountrate,butiftheinterestrateimplicitintheleasecannotbereasonablydetermined,thecompany'sincrementalborrowinginterestrateisusedasthediscountrate.
TheCompanycalculatestheinterestexpenseoftheleaseliabilityduringeachperiodoftheleasetermaccordingtoafixedperiodicinterestrate,andincludesitinthecurrentprofitandlossorthecostofrelatedassets.Variableleasepaymentsthatarenotincludedinthemeasurementofleaseliabilitiesareincludedinthecurrentprofitandlossorthecostofrelatedassetswhentheyactuallyoccur.Afterthecommencementoftheleaseterm,inanyofthefollowingcircumstances,theCompanyre-measurestheleaseliabilityandadjuststhecorrespondingright-of-useasset.Ifthebookvalueoftheright-of-useassethasbeenreducedtozero,buttheleaseliabilitystillneedstobefurtherreduced,itwillThedifferenceisincludedinthecurrentprofitandloss:
?Whentheevaluationresultsofthepurchaseoption,therenewaloptionortheterminationoptionchange,ortheactualexerciseoftheaforementionedoptionisinconsistentwiththeoriginalevaluationresult,thecompanywilldiscounttheleasepaymentafterthechangeandthereviseddiscountThepresentvalueoftheratecalculationremeasurestheleaseliability;
?Whentheactualfixedpaymentchanges,theexpectedpayableamountoftheguaranteeresidualvaluechanges,ortheindexorratiousedtodeterminetheleasepaymentchanges,thecompanycalculatesthepresentvaluebasedonthechangedleasepaymentandtheoriginaldiscountrateRemeasuretheleaseliability.However,ifchangesinleasepaymentsoriginatefromchangesinfloatinginterestrates,thereviseddiscountrateisusedtocalculatethepresentvalue.
(3)Short-termleasesandlow-valueassetleases
2024
TheCompanyelectsnottorecognizeright-of-useassetsandleaseliabilitiesforshort-termleasesandlow-valueassetleases,andcalculatestherelevantleasepaymentsinthecurrentprofitandlossorrelatedassetcostsonastraight-linebasisineachperiodoftheleaseterm.Short-termleasereferstoaleasethatdoesnotincludepurchaseoptionsforaleaseperiodnotexceeding12monthsatthebeginningoftheleaseperiod.Low-valueassetleasingreferstoaleasewithalowervaluewhenasingleleasedassetisanewasset.IftheCompanysubleasesorexpectstosubleasetheleasedassets,theoriginalleaseisnotalow-valueassetlease.
(4)Leasechange
Iftheleaseischangedandthefollowingconditionsaremetatthesametime,thecompanyshalltreattheleasechangeasaseparateleaseforaccountingtreatment:
Theleasechangeexpandsthescopeoftheleasebyaddingoneormoreuserightstoleasedassets;
Theincreasedconsiderationisequivalenttotheamountoftheindividualpriceoftheexpandedpartoftheleasescopeadjustedaccordingtothecontractconditions.Iftheleasechangeisnotaccountedforasaseparatelease,ontheeffectivedateoftheleasechange,theCompanyreapportionstheconsiderationofthecontractafterthechange,re-determinestheleaseterm,andcalculatesthecurrentleasepaymentbasedontheleasepaymentafterthechangeandthereviseddiscountrate.Thevalueoftheleaseliabilityisremeasured.Iftheleasechangecausesthescopeoftheleasetobereducedortheleasetermisshortened,theCompanywillcorrespondinglyreducethebookvalueoftheright-of-useasset,andtherelevantgainsorlossesfromthepartialorcompleteterminationoftheleaseareincludedinthecurrentprofitandloss.Ifotherleasechangescausetheleaseliabilitytoberemeasured,thecompanyadjuststhebookvalueoftheright-of-useassetaccordingly.Criteriaforclassificationandaccountingtreatmentofleasesaslessors
√Applicable□Non-applicable
Onthecommencementdateofthelease,theCompanydividestheleaseintofinancialleaseandoperatinglease.Financeleasereferstoaleaseinwhichalmostalltherisksandrewardsrelatedtotheownershipoftheleasedassetaretransferredregardlessofwhethertheownershipisultimatelytransferred.Operatingleasesrefertoleasesotherthanfinancialleases.WhentheCompanyactsasasubleaselessor,itclassifiessubleasesbasedontheright-of-useassetsgeneratedfromtheoriginallease.
(1)AccountingtreatmentofoperatingleasesTheleasereceiptsofoperatingleasesarerecognizedasrentalincomeineachperiodoftheleasetermaccordingtothestraight-linemethod.TheCompanycapitalizestheinitialdirectcostsincurredrelatedtooperatingleases,andallocatesthemtothecurrentprofitandlossonthesamebasisastheconfirmationofrentalincomeduringtheleaseterm.Variableleasepaymentsthatarenotincludedintheleasereceiptsareincludedinthecurrentprofitandlosswhentheyactuallyoccur.Ifanoperatingleaseischanged,thecompanywillaccountforitasanewleasefromtheeffectivedateofthechange,andtheamountofadvancereceiptsorleasereceivablesrelatedtotheleasebeforethechangeshallbedeemedasthereceiptsofthenewlease.
2024
(2)AccountingtreatmentoffinancialleasingOnthecommencementdateofthelease,theCompanyrecognizesthefinancialleasereceivablesforthefinancialleaseandterminatestherecognitionofthefinancialleaseassets.WhentheCompanyinitiallymeasuresthefinancialleasereceivables,thenetleaseinvestmentistakenastheentryvalueofthefinancialleasereceivables.Thenetleaseinvestmentisthesumoftheunguaranteedresidualvalueandthepresentvalueoftheleasepaymentthathasnotbeenreceivedatthebeginningoftheleaseterm,discountedattheinterestrateimplicitinthelease.TheCompanycalculatesandrecognizestheinterestincomeforeachperiodoftheleasetermbasedonafixedperiodicinterestrate.ThederecognitionandimpairmentoffinancialleasereceivablesshallbeaccountedforinaccordancewiththisNote"III.(X).FinancialInstruments".
Variableleasepaymentsthatarenotincludedinthemeasurementofthenetleaseinvestmentareincludedinthecurrentprofitandlosswhentheyactuallyoccur.
Ifafinancialleaseischangedandthefollowingconditionsaremetatthesametime,theCompanyshalltreatthechangeasaseparateleaseforaccountingtreatment:
?Thechangeexpandsthescopeoftheleasebyaddingoneormoreuserightstoleasedassets;
?Theincreasedconsiderationisequivalenttotheamountoftheindividualpriceoftheexpandedpartoftheleasescopeadjustedaccordingtothecontractconditions.
Ifthechangeofthefinancialleaseisnotaccountedforasaseparatelease,thecompanyshalldealwiththechangedleaseinthefollowingsituations:
?Ifthechangetakeseffectontheleasestartdate,theleasewillbeclassifiedasanoperatinglease,andtheCompanywillstartaccountingforitasanewleasefromtheleasechangeeffectivedate,andusethenetleaseinvestmentbeforetheleasechangeeffectivedateasThebookvalueoftheleasedasset;
?Ifthechangetakeseffectontheleasestartdate,theleasewillbeclassifiedasafinanciallease,andthecompanywillconductaccountingtreatmentinaccordancewiththepolicyofthisnote"V.(11).FinancialInstruments"onthemodificationorrenegotiationofthecontract.
(3)SaleandLeasebackTransactions
TheCompanyassesseswhethertheassettransferinasale-and-leasebacktransactionqualifiesasasalebasedontheprinciplesdescribedinNote"V.(34),Revenue"ofthesefinancialstatements.
(1)AsaLessee
Whentheassettransferinasale-and-leasebacktransactionqualifiesasasale,theCompany,asalessee,measurestheright-of-useassetarisingfromtheleasebackusingtheportionoftheoriginalcarryingamountoftheassetthatrelatestotherightofuseretainedthroughtheleaseback.TheCompanyonlyrecognizesgainsorlossesrelatedtotherightstransferredtothelessor.
Subsequenttothecommencementdateofthelease,thesubsequentmeasurementofright-of-useassetsandleaseliabilities,aswellasleasemodifications,aredetailedin"V.(38).Leases–1.TheCompanyasaLessee"ofthesenotes.Whenperformingsubsequentmeasurementofleaseliabilitiesarisingfromsale-and-leasebacktransactions,theCompanyensuresthatthemethodofdetermininglease
2024
paymentsormodifiedleasepaymentsdoesnotresultintherecognitionofgainsorlossesrelatedtotherightofuseretainedthroughtheleaseback.
Iftheassettransferinasale-and-leasebacktransactiondoesnotqualifyasasale,theCompany,asalessee,continuestorecognizethetransferredassetandsimultaneouslyrecognizesafinancialliabilityequaltothetransferproceeds.Theaccountingtreatmentforfinancialliabilitiesisdetailedin"V.(11).FinancialInstruments"ofthesenotes.
(2)AsaLessor
Iftheassettransferinasale-and-leasebacktransactionqualifiesasasale,theCompany,asalessor,accountsforthepurchaseoftheassetandsubsequentlyaccountsfortheleaseoftheassetinaccordancewiththepoliciesoutlinedin"2.TheCompanyasaLessor"above;Iftheassettransferdoesnotqualifyasasale,theCompany,asalessor,doesnotrecognizethetransferredassetbutrecognizesafinancialassetequaltothetransferproceeds.Theaccountingtreatmentforfinancialassetsisdetailedin"V.(11).FinancialInstruments"ofthesenotes.
39.Othersignificantaccountingpoliciesandaccountingestimates
□Applicable√Non-applicable
40.Changesinsignificantaccountingpoliciesandaccountingestimates
(1).Changesinsignificantaccountingpolicies
√Applicable□Non-applicable
Unit：YuanCurrency：RMB
| ChangesinAccountingPoliciesandReasons | FinancialStatementItemsMateriallyAffected | ImpactAmount |
| ImplementationofAccountingStandardsforBusinessEnterprisesInterpretationNo.17 | None | |
| ImplementationofProvisionalRegulationsonAccountingTreatmentofEnterpriseDataResources | None | |
| ImplementationofAccountingStandardsforBusinessEnterprisesInterpretationNo.18–"AccountingTreatmentforAssurance-TypeWarrantiesNotConstitutingSeparatePerformanceObligations" | Operatingcostsandsalesexpenses |
Othernotes:
(1)ImplementationofAccountingStandardsforBusinessEnterprisesInterpretationNo.17
On25October2023,theMinistryofFinancereleasedthe"AccountingStandardsforBusinessEnterprisesInterpretationNo.17"(CaiKuai[2023]No.21,hereinafterreferredtoas"InterpretationNo.17").
ClassificationofCurrentandNon-currentLiabilities
①InterpretationNo.17Clarifies:
2024
Aliabilityshallbeclassifiedasacurrentliabilityif,atthebalancesheetdate,theentitydoesnotpossessthesubstantiverighttodefersettlementofthatliabilityformorethanoneyearafterthebalancesheetdate.Forliabilitiesarisingfromcorporateloanarrangements,theentity'srighttodefersettlementoftheliabilityformorethanoneyearafterthebalancesheetdatemaybecontingentuponcompliancewithspecifiedconditionsintheloanagreement(hereinafterreferredtoas"covenantconditions").Thesettlementofaliabilitywhenclassifyingtheliquidityoftheliabilitymeansthattheenterprisedischargestheliabilitybytransferringcash,othereconomicresources(e.g.goodsorservices)ortheenterprise'sownequityinstrumentstothecounterparty.Ifthetermsoftheliabilityresultintheenterprisesettlingtheliabilitybydeliveringitsownequityinstrumentsifthecounterpartysochooses,andiftheenterpriseclassifiestheaboveoptionasanequityinstrumentandrecognizesitseparatelyasanequitycomponentofacompoundfinancialinstrumentinaccordancewithASBENo.37-PresentationofFinancialInstruments,thetermsoftheliabilitydoesnotaffecttheliquidityclassificationoftheliability.
TheinterpretationprovisioniseffectivefromJanuary1,2024,andcompaniesshouldadjustthecomparableperiodinformationinaccordancewiththeinterpretationprovisionwhentheyimplementtheprovisionforthefirsttime.TheCompany'simplementationofthisprovisiondidnothaveasignificantimpactontheCompany'sfinancialpositionandresultsofoperations.
②DisclosuresaboutVendorFinancingArrangements
InterpretationNo.17requiresthatwhenmakingnotedisclosures,anenterpriseshouldsummarizeanddiscloseinformationrelatingtovendorfinancingarrangementsthatwillassistusersofthestatementsinassessingtheimpactofthosearrangementsontheenterprise'sliabilities,cashflows,andtheenterprise'sexposuretoliquidityrisk.Theimpactofvendorfinancingarrangementsshouldalsobeconsideredwhenidentifyinganddisclosinginformationaboutliquidityrisk.Thisdisclosurerequirementappliesonlytovendorfinancingarrangements.Asupplierfinancingarrangementisatransactionthathasthefollowingcharacteristics:oneormorefinanceprovidersprovidefundstomakepaymentstoanenterpriseonbehalfofitssuppliers,withanagreementthattheenterprisewillrepaythefinanceprovidersonorafterthedatethepaymentsarereceivedbyitssuppliers,inaccordancewiththetermsandconditionsofthearrangement.Thesupplierfinancearrangementextendsthepaymentperiodforthebusiness,oradvancesthecollectionperiodforthebusiness'ssuppliers,comparedtotheoriginalpaymentduedate.TheinterpretedprovisioniseffectiveJanuary1,2024,andcompaniesarenotrequiredtodiscloseinformationrelatedtocomparableperiodsandcertainopeninginformationwhenimplementingtheinterpretedprovisionforthefirsttime.TheimplementationofthisprovisiondidnothaveasignificantimpactontheCompany'sfinancialpositionandresultsofoperations.
③AccountingforSaleandLeasebackTransactions
InterpretationNo.17stipulatesthatwhenalesseesubsequentlymeasuresaleaseliabilityarisingfromasaleandleaseback,themannerinwhichitdeterminestheamountofleasepaymentsorchangestheamountofsubsequentleasepaymentsshallnotresultintherecognitionofagainorlossrelatedtotherightofuseacquiredbythelesseeintheleaseback.Whenanenterprisefirstimplementsthisprovision,itshouldretrospectivelyadjustforsaleandleasebacktransactionsthatareconductedafterthedateofinitialimplementationofASUNo.21,Leases.
TheprovisionsofthisinterpretationareeffectiveJanuary1,2024andallowcompaniestoearlyimplementtheprovisionsfromtheyearofissuance.TheCompanyimplementedthisprovisionfromJanuary1,2024,andtheimplementationofthisprovisiondidnothaveamaterialimpactontheCompany'sfinancialpositionandresultsofoperations.
(2)ImplementationofProvisionalRegulationsonAccountingTreatmentofEnterpriseDataResources
TheMinistryofFinance("MOF")issuedtheInterimProvisionsonAccountingTreatmentRelatedtoEnterpriseDataResources("InterimProvisionsonAccountingTreatmentRelatedtoEnterpriseDataResources")(Caihui[2023]No.11)onAugust1,2023,whichappliestothedataresourcesthatarerecognizedasassets,suchasintangibleassetsorinventoriesincompliancewiththerelevantprovisionsoftheAccountingStandardsforBusinessEnterprises("ASBEs"),aswellasdataresourceslegallyownedorcontrolledbyanenterpriseandareexpectedtobringeconomicbenefitstotheenterprise,but
2024
whichdonotsatisfytheconditionsforrecognitionofanassetwithoutrecognitionoftheTherelevantaccountingtreatmentandspecificrequirementsfordisclosureofdataresources.TheprovisioniseffectivefromJanuary1,2024,andenterprisesshouldadoptthefutureapplicationmethod,andtheexpensesrelatedtodataresourcesthathavebeenexpensedtoprofitorlossbeforetheimplementationoftheprovisionwillnotbeadjusted.TheimplementationofthisregulationdidnothaveasignificantimpactontheCompany'sfinancialpositionandresultsofoperations.
(3)ImplementationofAccountingStandardsforBusinessEnterprisesInterpretationNo.18–"AccountingTreatmentforAssurance-TypeWarrantiesNotConstitutingSeparatePerformanceObligations"TheMinistryofFinanceissuedAccountingStandardsforBusinessEnterprisesInterpretationNo.18onDecember6,2024(Caikuai[2024]No.24,hereinafterreferredtoasInterpretationNo.18),whichiseffectivefromthedateofissuanceandallowsenterprisestoimplementitinadvancefromtheyearofissuance.InterpretationNo.18stipulatesthatwhenaccountingforestimatedliabilitiesarisingfromqualityassurancethatdonotbelongtoasingleperformanceobligation,accordingtotherelevantprovisionsof"EnterpriseAccountingStandardsNo.13-Contingencies",thedeterminedestimatedliabilityamountshouldbedebitedto"mainbusinesscosts","otherbusinesscosts"andotheraccounts,andcreditedtothe"estimatedliabilities"account,andcorrespondinglylistedinthe"operatingcosts"intheincomestatementandthe"othercurrentliabilities","noncurrentliabilitiesduewithinoneyear","estimatedliabilities"andotheritemsinthebalancesheet.
Whentheenterprisefirstimplementstheinterpretation,iftheoriginalprovisionforqualityassuranceisincludedin"salesexpenses",itshouldberetrospectivelyadjustedaccordingtochangesinaccountingpolicies.Themainimpactsofimplementingthisregulationbyourcompanyfrom2024onwardsareasfollows:
Unit:yuan
| AffectedStatementItems | Consolidated | ParentCompany | ||
| 2024FiscalYear | 2023FiscalYear | 2024FiscalYear | 2023FiscalYear | |
| Operatingcosts | 49,233,094.10 | 26,241,811.67 | 9,119,106.87 | 7,033,319.17 |
| Sellingexpenses | -49,233,094.10 | -26,241,811.67 | -9,119,106.87 | -7,033,319.17 |
(2).Changesinsignificantaccountingestimates
□Applicable√Non-applicable
(3).From2024onwards,theinitialimplementationofnewaccountingstandardsorstandardinterpretationsinvolvesadjustmentstothefinancialstatementsatthebeginningofthefirstimplementationyear
□Applicable√Non-applicable
41.Others
□Applicable√Non-applicableVI.Taxes
1.MajorcategoriesoftaxesandtaxratesMaincategoriesoftaxesandtaxrates
√Applicable□Non-applicable
| TaxType | Taxationbasis | Taxrate |
| VAT | Accordingtotheprovisionsofthe | 13%、9%、6% |
2024
| taxlaw,thesalestaxshallbecalculatedonthebasisoftheincomebysellinggoodsandtaxableservices.Afterdeductingtheinputtaxthatisallowedtobedeductedfromthesalestaxinthecurrentperiod,thedifferenceshallbethevalueaddedtax | ||||
| ConsumptionTax | ||||
| BusinessTax | ||||
| UrbanMaintenanceandConstructionTax | CalculatedbasedontheactualVATpaid | 7%、5% | ||
| Enterpriseincometax | Calculatedbasedonthetaxableincome | 34%、30%、28%、27%、26.5%、25%、24%、20.6%、19%、16.5%、15% | ||
| EducationSurcharges | CalculatedbasedontheactualVATpaid | 3% | ||
| LocalEducationSurcharges | CalculatedbasedontheactualVATpaid | 2% | ||
Note1:ThesalesofgoodsaresubjecttoVATat13%oftaxableincome,technologydevelopmentservicesaresubjecttoVATat6%oftaxableincome,andrealestateleasingissubjecttoVATat9%oftaxableincome.Note2:Iftherearetaxableentitiesapplicabletodifferentcorporatecitymaintenanceandconstructiontaxrates,makeadisclosureofstatement:
| NameofTaxpayer | UrbanMaintenanceandConstructionTaxRate(%) |
| TuopuAutomobileElectronics | 5 |
| TuopuThermalManagement | 5 |
| ZhejiangTowin | 5 |
| SkateboardChassis | 5 |
| ShanghaiTuopu | 5 |
| TaizhouTuopu | 5 |
| SichuanTuopu | 5 |
| HuzhouTuopu | 5 |
| NingboQianhui | 5 |
| ShanghaiTowin | 5 |
| AnhuiTuopu | 5 |
| HenanTuopu | 5 |
| TuopuPhotovoltaicTechnology(HangzhouBay) | 5 |
| TuopuPhotovoltaicTechnology(Taizhou) | 5 |
| TuopuPhotovoltaicTechnology(Jinhua) | 5 |
| TuopuPhotovoltaicTechnology(Linshui) | 5 |
| Othercompanies | 7 |
Iftherearetaxpayersapplicabletodifferentcorporatelocaleducationsurchargerates,makeadisclosureofthedescription
√Applicable□Non-applicable
| NameofTaxpayer | IncomeTaxRate(%) |
| TheCompany | 15 |
2024
| TuopuAutomobileElectronics | 15 |
| TuopuThermalManagement | 15 |
| ZhejiangTowin | 15 |
| SuiningTuopu | 15 |
| TuopuChassis | 15 |
| HunanTuopu | 15 |
| ChongqingChassis | 15 |
| Xi’anTuopu | 15 |
| SichuanTuopu | 15 |
| LiuzhouTuopu | 15 |
| BaojiTuopu | 15 |
| NingboQianhui | 15 |
| ChongqingTuopu | 15 |
| TuopuNorthAmericaLimited | 26.50 |
| TuopuNorthAmericaUSALimited,INC | 27 |
| TuopuUSA,LLC | 28 |
| TuopuInternational | 16.50 |
| TuopuPoland | 19 |
| TuopuSweden | 20.60 |
| TuopuMalaysia | 24 |
| TUOPUDOBRASIL | 34 |
| TuopuMexico | 30 |
| Othercompanies | 25 |
1.Preferentialtaxrate
√Applicable□Non-applicable
1.Undertheprovisionsofthe“Administrativemeasuresfortheaccreditationofhi-techenterprises”(GuoKeFaHuo[2016]No.32)andthe“Guidelinesfortheaccreditationmanagementofhi-techenterprises”(GuoKeFaHuo[2016]No.195),NingboScienceandTechnologyBureau,NingboFinanceBureau,andNingboTaxService,SATissuedthecertificateofhi-techenterprise(No.GR202433102644).Assetoutinthecertificate,theCompanywasaccreditedasahi-techenterpriseandthisaccreditationisvalidfor3years.Withinthisperiodofvalidity,thepreferentialtaxrateforcorporateincometaxis15%,whichiseffectivefrom2024to2026Thecorporateincometaxratefor2024is15%
2.Undertheprovisionsofthe“Administrativemeasuresfortheaccreditationofhi-techenterprises”(GuoKeFaHuo[2016]No.32)andthe“Guidelinesfortheaccreditationmanagementofhi-techenterprises”(GuoKeFaHuo[2016]No.195),NingboScienceandTechnologyBureau,NingboFinanceBureau,andNingboTaxService,SATissuedthecertificateofhi-techenterprise(No.GR202233100803).Assetoutinthecertificate,AutomotiveElectronicswasaccreditedasahi-techenterpriseandthisaccreditationisvalidfor3years.Withinthisperiodofvalidity,thepreferentialtaxrateforcorporateincometaxis15%,whichiseffectivefrom2022to2024.ThecorporateincometaxrateapplicabletoTuopuAutomotiveElectronicsfor2024is15%.
3.Undertheprovisionsofthe“Administrativemeasuresfortheaccreditationofhi-techenterprises”(GuoKeFaHuo[2016]No.32)andthe“Guidelinesfortheaccreditationmanagementofhi-techenterprises”(GuoKeFaHuo[2016]No.195),NingboScienceandTechnologyBureau,NingboFinanceBureau,andNingboTaxService,SATissuedthecertificateofhi-techenterprise(No.GR202333103290).Assetoutinthecertificate,ZehjiangTowinwasaccreditedasahi-techenterpriseandthisaccreditationisvalidfor3years.Withinthisperiodofvalidity,thepreferentialtaxrateforcorporateincometaxis15%,whichiseffectivefrom2022to2024.ThecorporateincometaxrateapplicabletoTuopuThermalManagementfor2024is15%
4.Undertheprovisionsofthe“Administrativemeasuresfortheaccreditationofhi-techenterprises”(GuoKeFaHuo[2016]No.32)andthe“Guidelinesfortheaccreditationmanagementofhi-techenterprises”(GuoKeFaHuo[2016]No.195),NingboScienceandTechnologyBureau,NingboFinanceBureau,andNingboTaxService,SATissuedthecertificateofhi-techenterprise(No.GR202333100609).Assetoutinthecertificate,TuopuChassiswasaccreditedasahi-techenterprise
2024
andthisaccreditationisvalidfor3years.Withinthisperiodofvalidity,thepreferentialtaxrateforcorporateincometaxis15%,whichiseffectivefrom2023to2025.ThecorporateincometaxrateapplicabletoTuopuChassisfor2024is15%.
5.Undertheprovisionsofthe“Administrativemeasuresfortheaccreditationofhi-techenterprises”(GuoKeFaHuo[2016]No.32)andthe“Guidelinesfortheaccreditationmanagementofhi-techenterprises”(GuoKeFaHuo[2016]No.195),HunanDepartmentofScienceandTechnology,HunanDepartmentofFinance,StateAdministrationofTaxation,HunanProvincialTaxationBureauissuedthecertificateofhi-techenterprise(No.GR202343003469).Assetoutinthecertificate,HunanTuopuwasaccreditedasahi-techenterpriseandthisaccreditationisvalidfor3years.Withinthisperiodofvalidity,thepreferentialtaxrateforcorporateincometaxis15%,whichiseffectivefrom2023to2025.ThecorporateincometaxrateapplicabletoTuopuChassisfor2024is15%.
6.Undertheprovisionsofthe“Administrativemeasuresfortheaccreditationofhi-techenterprises”(GuoKeFaHuo[2016]No.32)andthe“Guidelinesfortheaccreditationmanagementofhi-techenterprises”(GuoKeFaHuo[2016]No.195),ZhejiangDepartmentofScienceandTechnology,ZhejiangDepartmentofFinance,StateAdministrationofTaxation,ZhejiangProvincialTaxationBureauissuedthecertificateofhi-techenterprise(No.GR202233009476).Assetoutinthecertificate,ZhejiangTowinwasaccreditedasahi-techenterpriseandthisaccreditationisvalidfor3years.Withinthisperiodofvalidity,thepreferentialtaxrateforcorporateincometaxis15%,whichiseffectivefrom2022to2024.ThecorporateincometaxrateapplicabletoTuopuChassisfor2024is15%.
7.UndertheprovisionsoftheAnnouncementonContinuingtheEnterpriseIncomeTaxPolicyforWesternDevelopment(NationalDevelopmentandReformCommissionAnnouncementNo.23of2020)andtheCatalogueofEncouragedIndustriesinWesternRegions,theDepartmentofEconomyandInformationTechnologyofSichuanProvincehasrecognizedSuiningTuopuasanencouragedindustrialenterpriseandleviedenterpriseincometaxatareducedrateof15%.ThepreferentialperiodisfromJanuary1,2021toDecember31,2030.ThecorporateincometaxrateapplicabletoSuiningTuopufor2024is15%.
8.Undertheprovisionsofthe“No.23of2020bytheMinistryofFinance,StateAdministrationofTaxation,andNationalDevelopmentandReformCommission--CircularontheContinuationoftheEnterpriseIncomeTaxPolicyfortheWesternDevelopmentStrategy”,anyenterpriseengagedinanencouragedindustryinWesternChinawillpaycorporateincometaxat15%from1January2021to31December2030.ThecorporateincometaxrateapplicabletoChongqingChassisfor2024is15%.
9.Undertheprovisionsofthe“No.23of2020bytheMinistryofFinance,StateAdministrationofTaxation,andNationalDevelopmentandReformCommission--CircularontheContinuationoftheEnterpriseIncomeTaxPolicyfortheWesternDevelopmentStrategy”,anyenterpriseengagedinanencouragedindustryinWesternChinawillpaycorporateincometaxat15%from1January2021to31December2030.ThecorporateincometaxrateapplicabletoXi’anTuopufor2024is15%.
10.Undertheprovisionsofthe“No.23of2020bytheMinistryofFinance,StateAdministrationofTaxation,andNationalDevelopmentandReformCommission--CircularontheContinuationoftheEnterpriseIncomeTaxPolicyfortheWesternDevelopmentStrategy”,anyenterpriseengagedinanencouragedindustryinWesternChinawillpaycorporateincometaxat15%from1January2021to31December2030.ThecorporateincometaxrateapplicabletoSichuanTuopufor2024is15%.
11.Undertheprovisionsofthe“No.23of2020bytheMinistryofFinance,StateAdministrationofTaxation,andNationalDevelopmentandReformCommission--CircularontheContinuationoftheEnterpriseIncomeTaxPolicyfortheWesternDevelopmentStrategy”,anyenterpriseengagedinanencouragedindustryinWesternChinawillpaycorporateincometaxat15%from1January2021to31December2030.ThecorporateincometaxrateapplicabletoLiuzhouTuopufor2024is15%.
12.Undertheprovisionsofthe“No.23of2020bytheMinistryofFinance,StateAdministrationofTaxation,andNationalDevelopmentandReformCommission--CircularontheContinuationoftheEnterpriseIncomeTaxPolicyfortheWesternDevelopmentStrategy”,anyenterpriseengagedinanencouragedindustryinWesternChinawillpaycorporateincometaxat15%from1January2021to31December2030.ThecorporateincometaxrateapplicabletoBaojiTuopufor2024is15%.
13.Undertheprovisionsofthe“Administrativemeasuresfortheaccreditationofhi-techenterprises”(GuoKeFaHuo[2016]No.32)andthe“Guidelinesfortheaccreditationmanagementofhi-techenterprises”(GuoKeFaHuo[2016]No.195),NingboScienceandTechnologyBureau,NingboFinanceBureau,andNingboTaxService,SATissuedthecertificateofhi-techenterprise(No.GR202333100329).Assetoutinthecertificate,NingboQianhuiwasaccreditedasahi-techenterpriseandthisaccreditationisvalidfor3years.Withinthisperiodofvalidity,thepreferentialtaxratefor
2024
corporateincometaxis15%,whichiseffectivefrom2023to2025.ThecorporateincometaxrateapplicabletoNingboQianhuifor2024is15%.
14.Undertheprovisionsofthe“No.23of2020bytheMinistryofFinance,StateAdministrationofTaxation,andNationalDevelopmentandReformCommission--CircularontheContinuationoftheEnterpriseIncomeTaxPolicyfortheWesternDevelopmentStrategy”,anyenterpriseengagedinanencouragedindustryinWesternChinawillpaycorporateincometaxat15%from1January2021to31December2030.ThecorporateincometaxrateapplicabletoChongqingTuopufor2024is15%.
15.Accordingtothe"TheLawofthePeople’sRepublicofChinaonEnterpriseIncomeTax"andapplicableimplementationregulations,theincomefrominvestmentandoperationofthestate-sponsoredpublicinfrastructureprojectsshallbeexemptedforcorporateincometaxfromthefirsttothethirdyear,andpaidinhalffromthefourthtothesixthyear,whichcommencesfromthetaxableyearofthefirstsumofproductionandoperationincome.TuopuPhotovoltaicTechnology(NingboBeilun)wasentitledtothethree-yeartaxexemptionandthree-yearhalftaxpaymentpolicyfrom2022onwards.
16.Accordingtothe"TheLawofthePeople’sRepublicofChinaonEnterpriseIncomeTax"andapplicableimplementationregulations,theincomefrominvestmentandoperationofthestate-sponsoredpublicinfrastructureprojectsshallbeexemptedforcorporateincometaxfromthefirsttothethirdyear,andpaidinhalffromthefourthtothesixthyear,whichcommencesfromthetaxableyearofthefirstsumofproductionandoperationincome.TuopuPhotovoltaicTechnology(HangzhouBay)wasentitledtothethree-yeartaxexemptionandthree-yearhalftaxpaymentpolicyfrom2022onwards.
17.Accordingtothe"TheLawofthePeople’sRepublicofChinaonEnterpriseIncomeTax"andapplicableimplementationregulations,theincomefrominvestmentandoperationofthestate-sponsoredpublicinfrastructureprojectsshallbeexemptedforcorporateincometaxfromthefirsttothethirdyear,andpaidinhalffromthefourthtothesixthyear,whichcommencesfromthetaxableyearofthefirstsumofproductionandoperationincome.TuopuPhotovoltaicTechnology(Pinghu)wasentitledtothethree-yeartaxexemptionandthree-yearhalftaxpaymentpolicyfrom2022onwards.
18.Accordingtothe"TheLawofthePeople’sRepublicofChinaonEnterpriseIncomeTax"andapplicableimplementationregulations,theincomefrominvestmentandoperationofthestate-sponsoredpublicinfrastructureprojectsshallbeexemptedforcorporateincometaxfromthefirsttothethirdyear,andpaidinhalffromthefourthtothesixthyear,whichcommencesfromthetaxableyearofthefirstsumofproductionandoperationincome.TuopuPhotovoltaicTechnology(Taizhou)wasentitledtothethree-yeartaxexemptionandthree-yearhalftaxpaymentpolicyfrom2023onwards.
19.Accordingtothe"TheLawofthePeople’sRepublicofChinaonEnterpriseIncomeTax"andapplicableimplementationregulations,theincomefrominvestmentandoperationofthestate-sponsoredpublicinfrastructureprojectsshallbeexemptedforcorporateincometaxfromthefirsttothethirdyear,andpaidinhalffromthefourthtothesixthyear,whichcommencesfromthetaxableyearofthefirstsumofproductionandoperationincome.TuopuPhotovoltaicTechnology(Jinhua)wasentitledtothethree-yeartaxexemptionandthree-yearhalftaxpaymentpolicyfrom2024onwards.
20.Accordingtothe"TheLawofthePeople’sRepublicofChinaonEnterpriseIncomeTax"andapplicableimplementationregulations,theincomefrominvestmentandoperationofthestate-sponsoredpublicinfrastructureprojectsshallbeexemptedforcorporateincometaxfromthefirsttothethirdyear,andpaidinhalffromthefourthtothesixthyear,whichcommencesfromthetaxableyearofthefirstsumofproductionandoperationincome.TuopuPhotovoltaicTechnology(NingboYinzhou)wasentitledtothethree-yeartaxexemptionandthree-yearhalftaxpaymentpolicyfrom2023onwards.
21.Accordingtothe"TheLawofthePeople’sRepublicofChinaonEnterpriseIncomeTax"andapplicableimplementationregulations,theincomefrominvestmentandoperationofthestate-sponsoredpublicinfrastructureprojectsshallbeexemptedforcorporateincometaxfromthefirsttothethirdyear,andpaidinhalffromthefourthtothesixthyear,whichcommencesfromthetaxableyearofthefirstsumofproductionandoperationincome.TuopuPhotovoltaicTechnology(Xiangtan)wasentitledtothethree-yeartaxexemptionandthree-yearhalftaxpaymentpolicyfrom2024onwards.
22.Accordingtothe"TheLawofthePeople’sRepublicofChinaonEnterpriseIncomeTax"andapplicableimplementationregulations,theincomefrominvestmentandoperationofthestate-sponsoredpublicinfrastructureprojectsshallbeexemptedforcorporateincometaxfromthefirsttothethirdyear,andpaidinhalffromthefourthtothesixthyear,whichcommencesfromthetaxableyearofthefirstsumofproductionandoperationincome.TuopuPhotovoltaicTechnology(Wuhan)wasentitledtothethree-yeartaxexemptionandthree-yearhalftaxpaymentpolicyfrom2024onwards.
2024
2.Others
□Applicable√Non-applicableVII.NotestotheItemsintheConsolidatedFinancialStatement
1.Cashandbankbalances
√Applicable□Non-applicable
Unit：YuanCurrency：RMB
| Item | BalanceattheEndofthePeriod | BalanceattheBeginningofthePeriod |
| CashonHand | 21,590.07 | 18,810.59 |
| BankBalance | 3,942,244,999.22 | 2,313,919,121.92 |
| OtherCashandBankBalances | 45,499,260.99 | 541,429,058.76 |
| Depositsinfinancecompany | ||
| Total | 3,987,765,850.28 | 2,855,366,991.27 |
| Including:TotalAmountDepositedinOverseasBanks | 631,022,589.96 | 228,658,843.26 |
OthernotesThedetailedcompositionofothermonetaryfundsisasfollows:
Unit：YuanCurrency：RMB
| Item | BalanceattheEndofthePeriod | PriorYear-EndBalance |
| Bankacceptancedeposit | 33,208,844.36 | 535,150,594.14 |
| Guaranteeandsecuritydeposit | 12,289,949.67 | 6,277,854.73 |
| Foreignexchangesettlementdeposit | 466.96 | 609.89 |
| Total | 45,499,260.99 | 541,429,058.76 |
2.TradingFinancialAssets
√Applicable□Non-applicable
Unit：YuanCurrency：RMB
| Item | BalanceattheEndofthePeriod | BalanceattheBeginningofthePeriod | Designatedreasonandbasis |
| Financialassetsthataremeasuredatfairvalueandwhosechangesareincludedinthecurrentprofitandloss | 1,050,000,000.00 | 300,872,066.52 | / |
| Including: | |||
| Investmentindebtinstruments | / | ||
| Investmentinequityinstruments | 872,066.52 | / | |
| DerivativeFinancialAssets | / | ||
| Short-termfinancialproducts | 1,050,000,000.00 | 300,000,000.00 | / |
2024
| Financialassetsthataredesignatedtobemeasuredatfairvalueandwhosechangesareincludedinthecurrentprofitandloss | |||
| Including: | |||
| Total | 1,050,000,000.00 | 300,872,066.52 | / |
OtherNotes
□Applicable√Non-applicable
3.DerivativeFinancialAssets
□Applicable√Non-applicable
4.NotesReceivable
(1)Notesreceivablepresentedbycategory
√Applicable□Non-applicable
Unit：YuanCurrency：RM
| Item | BalanceattheEndofthePeriod | BalanceattheBeginningofthePeriod |
| BankAcceptanceNotes | 496,868,790.84 | |
| CommercialAcceptanceNotes | 24,667,150.00 | 57,161,817.04 |
| Total | 24,667,150.00 | 554,030,607.88 |
(2).NotesreceivablepledgedbytheCompanyattheendoftheperiod
√Applicable□Non-applicable
Unit：YuanCurrency：RMB
| Item | Pledgedamountbytheendofperiod |
| BankAcceptanceNotes | |
| CommercialAcceptanceNotes | 18,160,355.02 |
| Total | 18,160,355.02 |
(3).NotesreceivablethattheCompanyhasendorsedordiscountedattheendoftheperiodandthathavenotyetexpiredonthebalancesheetdate
□Applicable√Non-applicable
2024
(4).Disclosurebyprovisionforbaddebts
√Applicable□Non-applicable
Unit：YuanCurrency：RMB
| Category | BalanceattheEndofthePeriod | BalanceattheBeginningofthePeriod | ||||||||
| BookBalance | BadDebtProvision | BookValue | BookBalance | BadDebtProvision | BookValue | |||||
| Amount | Percentage(%) | Amount | AccruedProportion(%) | Amount | Percentage(%) | Amount | AccruedProportion(%) | |||
| Baddebtprovisionaccruedbasedonsingleitem | ||||||||||
| Including: | ||||||||||
Baddebtprovisionaccruedbasedonportfolios
| Baddebtprovisionaccruedbasedonportfolios | 25,965,421.05 | 100.00 | 1,298,271.05 | 5.00 | 24,667,150.00 | 557,039,124.57 | 100.00 | 3,008,516.69 | 0.54 | 554,030,607.88 |
| Including: | ||||||||||
| Portfolio:bankacceptancenotes | 496,868,790.84 | 89.20 | 496,868,790.84 | |||||||
| Portfolio2:commercialacceptancenotes | 25,965,421.05 | 100.00 | 1,298,271.05 | 5.00 | 24,667,150.00 | 60,170,333.73 | 10.80 | 3,008,516.69 | 5.00 | 57,161,817.04 |
| Total | 25,965,421.05 | 100.00 | 1,298,271.05 | / | 24,667,150.00 | 557,039,124.57 | 100.00 | 3,008,516.69 | / | 554,030,607.88 |
2024
2024
Baddebtprovisionaccruedbasedonsingleitem
□Applicable√Non-applicableBaddebtprovisionaccruedbasedonportfolio:
√Applicable□Non-applicable
Unit：YuanCurrency：RMB
| Name | BalanceattheEndofthePeriod | ||
| Notesreceivable | BadDebtProvision | AccruedProportion(%) | |
| Portfolio1:bankacceptancenotes | |||
| Portfolio2:commercialacceptancenotes | 25,965,421.05 | 1,298,271.05 | 5.00 |
| Total | 25,965,421.05 | 1,298,271.05 | |
Notestobaddebtprovisionaccruedbasedonportfolio
□Applicable√Non-applicableProvisionforbaddebtsbasedongeneralmodelofexpectedcreditlosses
□Applicable√Non-applicableNotestosignificantchangesinthecarryingamountofnotesreceivableforwhichachangeintheallowanceforlossesoccurredduringtheperiod:
□Applicable√Non-applicable
(5).Baddebtprovision
√Applicable□Non-applicable
Unit：YuanCurrency：RMB
| Category | BalanceattheBeginningofthePeriod | AmountChangedintheCurrentPeriod | BalanceattheEndofthePeriod | |||
| Provision | WithdrawalorReversal | Write-off | OtherChanges | |||
| Portfolio1:bankacceptancenotes | ||||||
| Portfolio2:commercialacceptancenotes | 3,008,516.69 | 1,710,245.64 | 1,298,271.05 | |||
| Total | 1,314,903.47 | 1,710,245.64 | 1,298,271.05 | |||
Significantwithdrawalorreversalamountofprovisionforbaddebtsinthecurrentperiod:
□Applicable√Non-applicable
(6).Accountsreceivableactuallywrittenoffinthecurrentperiod
□Applicable√Non-applicableParticularsaboutsignificantaccountsreceivablewrittenoff:
□Applicable√Non-applicableNoteonwrite-offofnotesreceivable:
□Applicable√Non-applicable
2024
Othernotes:
□Applicable√Non-applicable
5.Accountsreceivable
(1).Disclosurebyaging
√Applicable□Non-applicable
Unit：YuanCurrency：RMB
| Aging | BookBalanceattheEndofthePeriod | BookBalanceattheBeginningofthePeriod |
| Within1year | ||
| Including:sub-itemwithin1year | ||
| Within1year | 6,750,293,260.66 | 5,358,563,151.03 |
| Subtotalwithin1year | 6,750,293,260.66 | 5,358,563,151.03 |
| 1to2years | 134,987,675.61 | 59,317,771.10 |
| 2to3years | 32,319,171.57 | 6,568,262.84 |
| Over3years | 12,702,448.48 | 10,026,871.15 |
| 3to4years | ||
| 4to5years | ||
| Over5years | 16,128,059.01 | 14,810,992.23 |
| Total | 6,946,430,615.33 | 5,449,287,048.35 |
2024
(2).Disclosurebyprovisionmethodforbaddebts
√Applicable□Non-applicable
Unit：YuanCurrency：RMB
| Category | BalanceattheEndofthePeriod | BalanceattheBeginningofthePeriod | ||||||||
| BookBalance | BadDebtProvision | BookValue | BookBalance | BadDebtProvision | BookValue | |||||
| Amount | (%)Percentage(%) | Amount | AccruedProportion(%) | Amount | Percentage(%) | Amount | AccruedProportion(%) | |||
| Baddebtprovisionaccruedbasedonsingleitem | 171,147,370.53 | 2.46 | 171,147,370.53 | 100.00 | 166,439,402.18 | 3.05 | 166,439,402.18 | 100.00 | ||
| Including: | ||||||||||
Baddebtprovisionaccruedbasedonportfolio
| Baddebtprovisionaccruedbasedonportfolio | 6,775,283,244.80 | 97.54 | 349,694,513.05 | 5.16 | 6,425,588,731.75 | 5,282,847,646.17 | 96.95 | 276,132,484.50 | 5.23 | 5,006,715,161.67 |
| Including: | ||||||||||
| Baddebtprovisionaccruedbasedonaginggroups | 6,775,283,244.80 | 97.54 | 349,694,513.05 | 5.16 | 6,425,588,731.75 | 5,282,847,646.17 | 96.95 | 276,132,484.50 | 5.23 | 5,006,715,161.67 |
2024
| Total | 6,946,430,615.33 | 100.00 | 520,841,883.58 | 6,425,588,731.75 | 5,449,287,048.35 | 100.00 | 442,571,886.68 | / | 5,006,715,161.67 |
2024
Provisionforbaddebtbasedonsingleitem:
√Applicable□Non-applicable
Unit：YuanCurrency：RMB
| Name | BalanceattheEndofthePeriod | |||
| BookBalance | BadDebtProvision | AccruedProportion(%) | ReasonforAccrual | |
| HumanHorizons(Shandong)TechnologyCo.,Ltd. | 119,871,505.86 | 119,871,505.86 | 100.00 | Expectedtobeunrecoverable |
| WilmasterNewEnergyAutoParts(Wenzhou)Co.,Ltd. | 14,768,198.95 | 14,768,198.95 | 100.00 | Expectedtobeunrecoverable |
| VMMotorPurchasing(Shanghai)Co.,Ltd. | 11,801,644.70 | 11,801,644.70 | 100.00 | Expectedtobeunrecoverable |
| HumanHorizons(Jiangsu)TechnologyCo.,Ltd. | 5,933,227.04 | 5,933,227.04 | 100.00 | Expectedtobeunrecoverable |
| ChongqingHyosowPartsCo.,Ltd. | 5,341,186.92 | 5,341,186.92 | 100.00 | Expectedtobeunrecoverable |
| HenanDongqiChenfeiRubberandPlasticCo.,Ltd. | 2,438,745.39 | 2,438,745.39 | 100.00 | Expectedtobeunrecoverable |
| JianglingHoldingsCo.,Ltd. | 1,602,562.00 | 1,602,562.00 | 100.00 | Expectedtobeunrecoverable |
| BeijingBorgwardMotorCo.,Ltd. | 1,449,066.88 | 1,449,066.88 | 100.00 | Expectedtobeunrecoverable |
| GACFiatChryslerCo.,Ltd.GuangzhouBranch | 1,415,371.81 | 1,415,371.81 | 100.00 | Expectedtobeunrecoverable |
| VMMotorTechnology(Sichuan)Co.,Ltd. | 1,365,699.92 | 1,365,699.92 | 100.00 | Expectedtobeunrecoverable |
| HycanAutomotiveTechnologyCo.,Ltd | 1,163,412.50 | 1,163,412.50 | 100.00 | Expectedtobeunrecoverable |
| HafeiMotorCo.,Ltd. | 958,585.20 | 958,585.20 | 100.00 | Expectedtobeunrecoverable |
| VMMotorTechnology(Hengyang)Co.,Ltd. | 922,148.75 | 922,148.75 | 100.00 | Expectedtobeunrecoverable |
| GACFiatChryslerCo.,Ltd. | 902,816.58 | 902,816.58 | 100.00 | Expectedtobeunrecoverable |
| ZhejiangGreenFieldMotorCo.,Ltd. | 408,702.32 | 408,702.32 | 100.00 | Expectedtobeunrecoverable |
| ShenyangXinguangHuaxiangAutomotive | 278,511.05 | 278,511.05 | 100.00 | Expectedtobe |
2024
| EngineManufacturingCo.,Ltd | unrecoverable | ||||
| BeijingBorgwardMotorCo.,Ltd.ChangpingBranch | 269,495.27 | 269,495.27 | 100.00 | Expectedtobeunrecoverable | |
| VMMotorSales(Shanghai)Co.,Ltd. | 236,489.39 | 236,489.39 | 100.00 | Expectedtobeunrecoverable | |
| MianyangHuaruiAutomobileCo.,Ltd | 20,000.00 | 20,000.00 | 100.00 | Expectedtobeunrecoverable | |
| Total | 171,147,370.53 | 171,147,370.53 | 100.00 | / | |
Notestobaddebtprovisionaccruedbasedonsingleitem:
□Applicable√Non-applicableBaddebtprovisionaccruedbasedonportfolios:
√Applicable□Non-applicableAccrueditemsbasedoncombinations:Accrueditemsbasedonaginggroup
Unit：YuanCurrency：RMB
| Name | BalanceattheEndofthePeriod | ||
| AccountsReceivable | BadDebtProvision | AccruedProportion(%) | |
| Within1year(including1year) | 6,746,925,606.95 | 337,346,280.35 | 5.00 |
| 1-2years(including2years) | 11,387,183.92 | 1,138,718.40 | 10.00 |
| 2-3years(including3years) | 5,462,518.53 | 1,638,755.55 | 30.00 |
| 3-5years(including5years) | 4,842,941.62 | 2,905,764.97 | 60.00 |
| Over5years | 6,664,993.78 | 6,664,993.78 | 100.00 |
| Total | 6,775,283,244.80 | 349,694,513.05 | |
Recognitioncriteriaforandnotestobaddebtprovisionbyportfolios:
□Applicable√Non-applicableProvisionforbaddebtsbasedongeneralmodelofexpectedcreditlosses
□Applicable√Non-applicableNotetosignificantchangesinthecarryingamountofaccountsreceivableforwhichchangesintheallowanceforlossesoccurredduringtheperiod:
□Applicable√Non-applicable
(3).Baddebtprovision
√Applicable□Non-applicable
Unit：YuanCurrency：RMB
| Category | BalanceattheBeginningofthePeriod | AmountChangedintheCurrentPeriod | BalanceattheEndofthePeriod | |||
| Provision | WithdrawalorReversal | Write-off | OtherChanges | |||
| Baddebtprovisionaccruedbasedon | 166,439,402.18 | 4,707,968.35 | 171,147,370.53 | |||
2024
| singleitem | ||||
| Baddebtprovisionaccruedbasedonportfolios | 276,132,484.50 | 73,562,028.55 | 349,694,513.05 | |
| Total | 442,571,886.68 | 78,269,996.90 | 520,841,883.58 |
Significantwithdrawalorreversalamountofprovisionforbaddebtsinthecurrentperiod:
□Applicable√Non-applicable
(4).Accountsreceivableactuallywrittenoffinthecurrentperiod
□Applicable√Non-applicable
Unit：YuanCurrency：RMBParticularsaboutsignificantaccountsreceivablewrittenoff
□Applicable√Non-applicableNotestoaccountsreceivablewrittenoff:
□Applicable√Non-applicable
(5).Accountsreceivableofthetopfiveclosingbalancescollectedbydebtors
√Applicable□Non-applicable
Unit：YuanCurrency：RMB
| NameofEntity | Endingbalanceofaccountsreceivable | Endingbalanceofcontractassets | Endingbalanceofaccountsreceivableandcontractassets | Percentageoftotalendingbalanceofaccountsreceivableandcontractassets(%) | Endingbalanceofprovisionforbaddebts |
| No.1 | 1,236,025,681.09 | 1,236,025,681.09 | 17.79 | 61,801,284.05 | |
| No.2 | 864,808,958.06 | 864,808,958.06 | 12.45 | 43,240,447.90 | |
| No.3 | 479,244,550.55 | 479,244,550.55 | 6.90 | 23,962,227.53 | |
| No.4 | 354,403,867.48 | 354,403,867.48 | 5.10 | 17,720,193.37 | |
| No.5 | 233,402,400.92 | 233,402,400.92 | 3.36 | 11,670,120.05 | |
| Total | 3,167,885,458.10 | 3,167,885,458.10 | 45.60 | 158,394,272.90 |
Othernotes:
□Applicable√Non-applicable
6.Contractassets
(1).Statusofcontractassets
□Applicable√NotApplicable
(2).Amountsandreasonsforsignificantchangesinbookvalueduringthereportingperiod
□Applicable√Notapplicable
2024
(3).Disclosurebyprovisionforbaddebt
□Applicable√NotapplicableProvisionforbaddebtsismadeonasingleitembasis:
□Applicable√NotapplicableNotetobaddebtprovisioningbyindividualitem:
□Applicable√NotapplicableProvisionforbaddebtsbyportfolio:
□Applicable√NotapplicableProvisionforbaddebtsbasedongeneralmodelofexpectedcreditlosses.
□Applicable√NotapplicableNotetosignificantchangesinthecarryingamountofcontractassetsforwhichachangeintheallowanceforlosseshasoccurredduringtheperiod:
□Applicable√NotApplicable
(4).Provisionforbaddebtsoncontractassetsforthecurrentperiod
□Applicable√NotapplicableOfwhichtheamountofbaddebtprovisionrecoveredorreversedduringtheperiodissignificant:
□Applicable√Notapplicable
(5).Contractassetsactuallywrittenoffduringtheperiod
□Applicable√NotapplicableOfwhichsignificantcontractassetswrittenoff
□Applicable√NotapplicableDescriptionofcontractassetswrittenoff:
□Applicable√NotapplicableOthernotes:
□Applicable√NotApplicable
7.Receivablesfinancing
(1).Presentationofreceivablesfinancingclassifications
√Applicable□NotApplicable
Unit：YuanCurrency：RMB
| Item | BalanceattheEndofthePeriod | BalanceattheBeginningofthePeriod |
| Notesreceivable | 2,659,789,309.01 | 1,039,933,314.87 |
| Accountsreceivable | ||
| Total | 2,659,789,309.01 | 1,039,933,314.87 |
(2).Receivablefinancingpledgedbythecompanyattheendoftheperiod
√Applicable□NotApplicable
Unit：YuanCurrency：RMB
| Item | Amountpledgedattheendoftheperiod |
2024
| BankAcceptanceNotes | 1,315,399,958.40 |
| CommercialAcceptanceNotes | |
| Total | 1,315,399,958.40 |
(3).TheCompany'sreceivablefinancingthathasbeenendorsedordiscountedandisnotdueonthe
balancesheetdateattheendoftheperiod,
√Applicable□NotApplicable
Unit：YuanCurrency：RMB
| Total | Amountsderecognizedattheendoftheperiod | Amountsnotderecognizedattheendoftheperiod |
| BankAcceptanceNotes | 2,211,234,460.82 | |
| CommercialAcceptanceNotes | ||
| Total | 2,211,234,460.82 |
NingboTuopuGrouipCo.,Ltd.AnnualReport
2024
(4).Disclosurebyprovisionforbaddebts
√Applicable□Non-applicable
Unit：YuanCurrency：RMB
| Category | BalanceattheEndofthePeriod | BalanceattheBeginningofthePeriod | ||||||||
| BookBalance | BadDebtProvision | BookValue | BookBalance | BadDebtProvision | BookValue | |||||
| Amount | (%)Percentage(%) | Amount | AccruedProportion(%) | Amount | Percentage(%) | Amount | AccruedProportion(%) | |||
| Baddebtprovisionaccruedbasedonsingleitem | ||||||||||
| Including: | ||||||||||
Baddebtprovisionaccruedbasedonportfolios
| Baddebtprovisionaccruedbasedonportfolios | 1,315,399,958.40 | 100.00 | 1,315,399,958.40 | 1,040,142,093.70 | 100.00 | 208,778.83 | 0.02 | 1,039,933,314.87 | ||
| Including | ||||||||||
| Portfolio1:bankacceptancenotes | 1,315,399,958.40 | 100.00 | 1,315,399,958.40 | 1,035,966,517.17 | 99.60 | 1,035,966,517.17 | ||||
| Portfolio2:commercialacceptancenotes | 4,175,576.53 | 0.40 | 208,778.83 | 5.00 | 3,966,797.70 | |||||
| Total | 1,315,399,958.40 | / | / | 1,315,399,958.40 | 1,040,142,093.70 | / | 208,778.83 | / | 1,039,933,314.87 | |
2024
Provisionforbaddebtsismadeonanindividualbasis:
□Applicable√NotApplicableExplanationofprovisionforbaddebtsbyindividualitem:
□Applicable√NotapplicableProvisionforbaddebtsbyportfolio:
□Applicable√NotapplicableProvisionforbaddebtsbasedongeneralmodelofexpectedcreditlosses.
□Applicable√NotapplicableNotetosignificantchangesinthecarryingamountofreceivablesfinancingforwhichchangesintheallowanceforlossesoccurredduringtheperiod:
□Applicable√NotApplicable
(5).Provisionforbaddebts
√Applicable□Notapplicable
Unit：YuanCurrency：RMB
| Category | BalanceattheBeginningofthePeriod | AmountChangedintheCurrentPeriod | BalanceattheEndofthePeriod | |||
| Provision | WithdrawalorReversal | Write-off | OtherChanges | |||
| Bankacceptancenotes | ||||||
| Commercialacceptancenotes | 208,778.83 | 208,778.83 | ||||
| Total | 208,778.83 | 208,778.83 | ||||
Ofwhichtheamountofbaddebtprovisionrecoveredorreversedduringtheperiodissignificant:
□Applicable√Notapplicable
(6).Receivablesfinancingactuallywrittenoffduringtheperiod
□Applicable√NotapplicableOfwhichsignificantwrite-offsofreceivablesfinancing:
□Applicable√NotapplicableNotetowrite-offs:
□Applicable√Notapplicable
(7).Changesinreceivablesfinancingincreaseordecreaseduringtheperiodandchangesinfairvalue:
√Applicable□Notapplicable
Unit：YuanCurrency：RMB
| Item | BalanceattheEndofPreviousYear | IncreaseintheCurrentPeriod | DerecognitionintheCurrentPeriod | OtherChanges | BalanceattheEndofthePeriod |
| BankAcceptanceNotes | 1,035,966,517.17 | 9,366,806,173.74 | 7,742,983,381.90 | 2,659,789,309.01 | |
| Commerc | 3,966,797.70 | 1,597,176.16 | 5,772,752.69 | 208,778.83 |
2024
| ialAcceptanceNotes | |||||
| Total | 1,039,933,314.87 | 9,368,403,349.90 | 7,748,756,134.59 | 208,778.83 | 2,659,789,309.01 |
(8).Othernotes:
□Applicable√Notapplicable
8.Prepayments
(1).Presentationofprepaymentsbyage
√Applicable□Non-applicable
Unit：YuanCurrency：RMB
| Age | BalanceattheEndofthePeriod | BalanceattheStartofthePeriod | ||
| Amount | Percentage(%) | Amount | Percentage(%) | |
| Within1year | 161,820,343.87 | 96.69 | 111,225,475.06 | 95.54 |
| 1-2years | 3,597,819.82 | 2.15 | 2,307,879.19 | 1.98 |
| 2-3years | 658,910.81 | 0.39 | 1,248,987.46 | 1.08 |
| Over3years | 1,286,519.16 | 0.77 | 1,631,882.03 | 1.40 |
| Total | 167,363,593.66 | 100.00 | 116,414,223.74 | 100.00 |
(2).Particularsofprepaymentsofthetopfiveclosingbalancesbyprepaymentparties
√Applicable□Non-applicable
Unit：YuanCurrency：RMB
| NameofEntity | Balanceattheendoftheperiod | Proportionintotalbalanceofprepaymentsattheendoftheperiod | |
| YunnanAluminumCo.,Ltd. | 15,569,787.62 | 9.30 | |
| NingboHangzhouBayChinaResourcesGasCo.,Ltd. | 10,859,961.08 | 6.49 | |
| StateGridZhejiangElectricPowerCo.,Ltd.NingboPowerSupplyCompany | 6,331,614.42 | 3.78 | |
| GLOBALGLORYGROUPLIMITED | 5,042,137.29 | 3.01 | |
| XiangtanDeshengEnergyElectricityDistributionandSalesCo.,Ltd. | 2,223,986.48 | 1.33 | |
| Total | 18,158,630.34 | 23.91 | |
Othernotes:
□Applicable√Non-applicable
9.OtherreceivablesPresentationofitems
√Applicable□Non-applicable
2024
Unit：YuanCurrency：RMB
| Item | Balanceattheendoftheperiod | Balanceatthebeginningoftheperiod |
| Interestreceivable | ||
| Dividendreceivable | ||
| OtherReceivables | 80,413,358.88 | 89,762,378.31 |
| Total | 80,413,358.88 | 89,762,378.31 |
OtherNotes:
□Applicable√Non-applicableInterestreceivable
(1).Classificationofinterestreceivable
□Applicable√Notapplicable
(2).Significantoverdueinterest
□Applicable√Notapplicable
(3).Disclosurebybaddebtaccrualmethod
□Applicable√NotapplicableProvisionforbaddebtsismadeonasingleitembasis:
□Applicable√NotapplicableNotetobaddebtprovisioningbyindividualitem:
□Applicable√NotapplicableProvisionforbaddebtsbyportfolio:
□Applicable√Notapplicable
(4).Provisionforbaddebtsbasedongeneralmodelofexpectedcreditlosses.
□Applicable√NotapplicableNotetosignificantchangesinthecarryingamountofinterestreceivableforwhichchangesintheallowanceforlossesoccurredduringtheperiod:
□Applicable√Notapplicable
(5).Provisionforbaddebts
□Applicable√NotapplicableOfwhichtheamountofbaddebtprovisionrecoveredorreversedduringtheperiodissignificant:
□Applicable√Notapplicable
(6).Actualwrite-offofinterestreceivableduringtheperiod
□Applicable√NotapplicableOfwhichsignificantwrite-offofinterestreceivable
□Applicable√NotapplicableNotetowrite-offs:
□Applicable√NotapplicableOthernotes:
2024
□Applicable√NotapplicableDividendsreceivable
(1).Dividendsreceivable
□Applicable√Notapplicable
(2).Significantdividendsreceivablewithanageofmorethan1year
□Applicable√Notapplicable
(3).Disclosurebybaddebtaccrualmethod
□Applicable√NotapplicableProvisionforbaddebtsismadeonasingleitembasis:
□Applicable√NotapplicableNotetobaddebtprovisionbyindividualitem:
□Applicable√NotapplicableProvisionforbaddebtsbyportfolios:
□Applicable√Notapplicable
(4).Provisionforbaddebtsbasedonthegeneralmodelofexpectedcreditlosses
□Applicable√NotapplicableNotetosignificantchangesinthecarryingamountofdividendsreceivableforwhichchangesintheallowanceforlossesoccurredduringtheperiod:
□Applicable√Notapplicable
(5).Provisionforbaddebt
□Applicable√NotapplicableOfwhichtheamountofbaddebtprovisionrecoveredorreversedduringtheperiodissignificant:
□Applicable√Notapplicable
(6).Dividendsreceivableactuallywrittenoffduringtheperiod
□Applicable√NotapplicableDividendsreceivablewrittenoffofwhichtheamountissignificant:
□Applicable√NotapplicableNotetowrite-offs:
□Applicable√NotapplicableOthernotes:
□Applicable√NotapplicableOtherreceivables
(7).Disclosurebyage
√Applicable□Notapplicable
Unit：YuanCurrency：RMB
2024
| Age | BookBalanceattheEndofthePeriod | BookBalanceattheBeginningofthePeriod |
| Within1year | ||
| Including:sub-itemwithin1year | ||
| Within1year | 52,178,692.29 | 50,731,522.57 |
| Subtotalwithin1year | 52,178,692.29 | 50,731,522.57 |
| 1to2years | 20,467,619.09 | 35,362,927.22 |
| 2to3years | 11,209,325.76 | 11,647,415.88 |
| Over3years | 11,440,540.04 | 3,969,015.68 |
| 3to4years | ||
| 4to5years | ||
| Over5years | 1,480,036.20 | 988,401.00 |
| Total | 96,776,213.38 | 102,699,282.35 |
(8).Categorizedbynatureoffunds
√Applicable□Non-applicable
Unit：YuanCurrency：RMB
| NatureofFunds | Bookbalanceattheendoftheperiod | Bookbalanceatthebeginningoftheperiod |
| Pettycashfunds | 7,448,295.52 | 6,027,386.91 |
| Securitydeposits | 74,000,178.55 | 73,765,967.01 |
| Others | 15,327,739.31 | 22,905,928.43 |
| Total | 96,776,213.38 | 102,699,282.35 |
(9).Particualrsofbaddebtprovision
√Applicable□Non-applicable
Unit：YuanCurrency：RMB
| Baddebtprovision | Phase1 | Phase2 | Phase3 | Total |
| Expectedcreditlossinthenext12months | Expectedcreditlossthroughouttheduration(nocreditimpairmentoccurred) | Expectedcreditlossthroughouttheduration(creditimpairmenthasoccurred) | ||
| BalanceonJanuary1,2024 | 12,936,904.04 | 12,936,904.04 | ||
| BalanceofthecurrentperiodonJanuary1,2024 | ||||
| --TransfertoPhase2 | ||||
| --TransfertoPhase3 | ||||
| --TransfertoPhase2 | ||||
| --TransfertoPhase1 | ||||
| Provisionmadeinthecurrentperiod | 3,425,950.46 | 3,425,950.46 | ||
| Reversalinthecurrentperiod | ||||
| Write-offinthecurrentperiod |
2024
| Write-offinthecurrentperiod | |||
| Otherchanges | |||
| BalanceonDecember31,2024 | 16,362,854.50 | 16,362,854.50 |
Notestosignificantchangesinthebookbalanceofotherreceivablesthathavechangedinthecurrentperiod:
□Applicable√Non-applicableAmountofbaddebtprovisioninthecurrentperiodandthebasisforassessingwhetherthecreditriskoffinancialinstrumentshasincreasedsignificantly:
□Applicable√Non-applicable
(10).Particualrsofbaddebtprovision
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Category | BalanceattheBeginningofthePeriod | AmountChangedintheCurrentPeriod | BalanceattheEndofthePeriod | |||
| Provision | WithdrawalorReversal | Write-off | OtherChanges | |||
| Accountsreceivablewithbaddebtaccruedbasedonagingportfolio | 12,936,904.04 | 3,425,950.46 | 16,362,854.50 | |||
| Total | 12,936,904.04 | 3,425,950.46 | 16,362,854.50 | |||
Baddebtprovisioninthecurrentperiodwithsignificantamountofwithdrawalorreversal:
□Applicable√Non-applicable
(11).Particularsofotherreceivablesactuallywrittenoffinthecurrentperiod
□Applicable√Non-applicableParticularsaboutsignificantotherreceivableswrittenoff:
□Applicable√Non-applicableNotetootherreceivableswrittenoff:
□Applicable√Non-applicable
(12).Particularsofotherreceivablesofthetopfiveclosingbalancescollectedbydebtors
√Applicable□Non-applicable
Unit：YuanCurrency：RMB
2024
| NameofUnit | Balanceattheendoftheperiod | Proportionintotalotherreceivablesattheendoftheperiod(%) | Natureoffunds | Aging | Balanceofbaddebtprovisionattheendoftheperiod |
| AvalonRiskManagementInsuranceAg | 16,533,320.00 | 17.08 | Depositsandguarantees | Note | 1,641,176.50 |
| DevelopmentandManagementAdministrationCommitteeofNingboHangzhouBayNewArea | 9,508,485.00 | 9.83 | Depositsandguarantees | 3-4years | 5,705,091.00 |
| DGE-RE7RIMMOBILIENUNTERNEHMERGESELLSCHAFT | 7,651,175.60 | 7.91 | Depositsandguarantees | 2-3years | 2,295,352.68 |
| ArcaStarSolutionsCo.,Ltd. | 7,188,400.00 | 7.43 | Depositsandguarantees | Within1year | 359,420.00 |
| WuhuCheryTechnologyCo.,Ltd. | 5,000,000.00 | 5.17 | Depositsandguarantees | Within1year | 250,000.00 |
| Total | 45,881,380.60 | 47.42 | / | / | 10,251,040.18 |
Note:Theamountwithin1yearisRMB243,110.00,theamountduewithin1-2yearsisRMB16,290,210.00.
(13).Presentedinotherreceivablesduetocentralizedmanagementoffunds
□Applicable√Non-applicableOthernotes:
□Applicable√Non-applicable
2024
10.Inventories
(1).Categoryofinventories
√Applicable□Non-applicable
Unit：YuanCurrency：RMB
| Item | BalanceattheEndofthePeriod | BalanceattheStartofthePeriod | ||||
| BookBalance | Inventorydepreciationprovisionorcontractperformancecostimpairmentprovision | BookValue | BookBalance | Inventorydepreciationprovisionorcontractperformancecostimpairmentprovision | BookValue | |
| Rawmaterials | 528,153,187.04 | 13,290,729.08 | 514,862,457.96 | 417,047,432.46 | 3,749,418.34 | 413,298,014.12 |
| WIPs | 986,169,511.05 | 6,789,984.73 | 979,379,526.32 | 873,843,603.34 | 6,041,797.88 | 867,801,805.46 |
| Finishedgoods | 1,369,856,755.92 | 49,852,983.64 | 1,320,003,772.28 | 1,274,079,073.65 | 50,752,108.46 | 1,223,326,965.19 |
| Revolvingmaterials | 26,385,075.05 | 26,385,075.05 | 28,925,666.14 | 28,925,666.14 | ||
| Consumptivebiologicalassets | ||||||
| Contractperformancecost | ||||||
| Deliveredgoods | 1,238,406,560.04 | 78,979,232.66 | 1,159,427,327.38 | 772,568,717.76 | 61,079,363.56 | 711,489,354.20 |
| Total | 4,148,971,089.10 | 148,912,930.11 | 4,000,058,158.99 | 3,366,464,493.35 | 121,622,688.24 | 3,244,841,805.11 |
(2).DataResourcesRecognizedasInventory
□Applicable√Non-applicable
Unit：YuanCurrency：RMB
| Item | BalanceattheStartofthePeriod | IncreaseintheCurrentPeriod | DecreaseintheCurrentPeriod | BalanceattheEndofthePeriod | ||
| Accrued | Others | ReversalorWrite-off | Others | |||
| Rawmaterials | 3,749,418.34 | 11,270,988.69 | 1,729,677.95 | 13,290,729.08 | ||
| WIPs | 6,041,797.88 | 3,916,273.69 | 3,168,086.84 | 6,789,984.73 | ||
| Finishedgoods | 50,752,108.46 | 17,534,600.55 | 18,433,725.37 | 49,852,983.64 | ||
2024
| Revolvingmaterials | ||||||
| Consumptivebiologicalassets | ||||||
| Contractperformancecost | ||||||
| Deliveredgoods | 61,079,363.56 | 25,536,745.26 | 7,636,876.16 | 78,979,232.66 | ||
| Total | 121,622,688.24 | 58,258,608.19 | 30,968,366.32 | 148,912,930.11 |
Reasonsforreversalorwrite-offofprovisionfordeclineinvalueofinventoriesduringtheperiod
√Applicable□NotapplicableAftertheprovisionfordeclineinvalueofinventorieshasbeenmade,ifthefactorsaffectingthepreviouswrite-downofthevalueofinventorieshavedisappeared,resultinginthenetrealizablevalueofinventoriesbeinghigherthanthebookvalue,theprovisionfordeclineinvalueofinventorieswillbereversedtotheextentoftheamountofprovisionfordeclineinvalueofinventoriesoriginallymade,andthereversalwillberecognizedinthegainorlossofthecurrentperiodProvisionfordeclineinvalueofinventoriesbyportfolio
√Applicable□Notapplicable
Unit：YuanCurrency：RMB
| Nameoftheportfolio | Endoftheperiod | Beginningoftheperiod | ||||
| Bookbalance | Fallingpricereserves | Accrualproportionoffallingpricereserves(%) | Bookbalance | Fallingpricereserves | Accrualproportionoffallingpricereserves(%) | |
| Within1year | 3,970,584,341.43 | 37,482,309.99 | 0.94 | 3,166,420,501.17 | 22,425,432.86 | 0.71 |
| Over1year | 178,386,747.67 | 111,430,620.12 | 62.47 | 200,043,992.18 | 99,197,255.38 | 49.59 |
| Total | 4,148,971,089.10 | 148,912,930.11 | 3,366,464,493.35 | 121,622,688.24 | ||
Provisioningcriteriaforprovisionfordeclineinvalueofinventoriesbyportfolio
√Applicable□NotapplicableForinventorieswithanageofmorethanoneyearandcorrespondingtotherelevantmodelsthathaveceasedproduction,thenetrealizablevalueiszero;forotherinventories,thenetrealizablevalueistheestimatedsellingpricelessestimatedsellingexpensesandrelatedtaxes.
2024
(3).Notestothebalanceattheendoftheinventoryperiodwiththecapitalizedamountofborrowingcosts
□Applicable√Non-applicable
(4).Notestotheamortizedamountinthecurrentperiodofcontractperformancecost
□Applicable√Non-applicableOtherNotes:
□Applicable√Non-applicable
11.Held-for-saleassets
□Applicable√Non-applicable
12.Non-currentassetsduewithinoneyear
□Applicable√Non-applicableDebtinvestmentsmaturingwithinoneyear
□Applicable√Non-applicableOtherdebtinvestmentsduewithinoneyear
□Applicable√Non-applicable
(1)Otherdebtinvestmentsduewithinoneyear
□Applicable√Non-applicableChangesinimpairmentprovisionsforotherdebtinvestmentsduewithinoneyear
□Applicable√Non-applicable
(2)Othersignificantdebtinvestmentsduewithinoneyearattheendoftheperiod
□Applicable√Non-applicable
(3)ImpairmentProvisionStatus
□Applicable√Non-applicableExplanationofsignificantchangesinthebookbalanceduetochangesintheprovisionforlossesinthecurrentperiod:
□Applicable√Non-applicableTheprovisionforimpairmentinthisperiodandthebasisforevaluatingwhetherthecreditriskoffinancialinstrumentshassignificantlyincreased
□Applicable√Non-applicable
(4)Actualwriteoffofotherdebtinvestmentsduewithinoneyearinthisperiod
□Applicable√Non-applicableImportantotherdebtinvestmentsduewithinoneyearandtheirwrite-offstatus
□Applicable√Non-applicableExplanationonthewriteoffofotherdebtinvestmentsduewithinoneyear:
□Applicable√Non-applicableOthernotes:
□Applicable√Non-applicable
2024
13.Othercurrentassets
√Applicable□Non-applicable
Unit：YuanCurrency：RMB
| Item | BalanceattheEndofthePeriod | BalanceattheBeginningofthePeriod |
| Contractacquisitioncost | ||
| Returncostreceivable | ||
| VATinputtaxtobededucted | 275,403,188.90 | 274,192,305.55 |
| Advancepaymentofcorporateincometax | 12,062,168.03 | 9,730,304.44 |
| Advancepaymentofothertaxes | 102,296.82 | 2,249.26 |
| Total | 287,567,653.75 | 283,924,859.25 |
14.Debtinvestments
(1).Particularsofdebtinvestments
□Applicable√NotapplicableChangesinprovisionforimpairmentofdebtinvestmentsduringtheperiod
□Applicable√Notapplicable
(2).Significantdebtinvestmentsattheendoftheperiod
□Applicable√Notapplicable
(3).Provisionforimpairment
□Applicable√NotapplicableNotetosignificantchangesinthecarryingamountofdebtinvestmentsforwhichchangesinprovisionforlossesoccurredduringtheperiod:
□Applicable√NotapplicableAmountofprovisionforimpairmentforthecurrentperiodandthebasisadoptedforassessingwhetherthereisasignificantincreaseinthecreditriskoffinancialinstruments:
□Applicable√Notapplicable
(4).Actualwrite-offofdebtinvestmentsduringtheperiod
□Applicable√NotapplicableParticulrsonwrite-offofsignificantdebtinvestments
□Applicable√NotapplicableNotetowrite-offofdebtinvestments:
□Applicable√NotapplicableOthernotes:
□Applicable√Notapplicable
15.Otherdebtinvestments
(1).Otherdebtinvestments
□Applicable√Notapplicable
2024
Changesinprovisionforimpairmentofotherdebtinvestmentsduringtheperiod
□Applicable√Notapplicable
(2).Significantotherdebtinvestmentsattheendoftheperiod
□Applicable√Notapplicable
(3).Provisionforimpairment
□Applicable√NotapplicableNotetosignificantchangesinthecarryingamountofotherdebtinvestmentsforwhichchangesinprovisionforlossesoccurredduringtheperiod:
□Applicable√NotapplicableAmountofprovisionforimpairmentforthecurrentperiodandthebasisadoptedforassessingwhetherthereisasignificantincreaseinthecreditriskofthefinancialinstruments:
□Applicable√Notapplicable
(4).Otherdebtinvestmentsactuallywrittenoffduringtheperiod
□Applicable√NotapplicableWrite-offofsignificantotherdebtinvestmentsduringtheperiod
□Applicable√NotapplicableNotetowrite-offofotherdebtinvestments:
□Applicable√NotapplicableOthernotes:
□Applicable√Notapplicable
16.Long-termreceivables
(1).Long-termreceivables
□Applicable√Notapplicable
(2).Disclosurebybaddebtaccrual
□Applicable√NotapplicableProvisionforbaddebtsismadeonasingleitembasis:
□Applicable√NotapplicableNotetobaddebtprovisioningonasingleitembasis:
□Applicable√NotapplicableProvisionforbaddebtsbyportfolio:
□Applicable√Notapplicable
(3).Provisionforbaddebtsbasedongeneralmodelofexpectedcreditlosses
□Applicable√NotapplicableNotetosignificantchangesinthecarryingamountoflong-termreceivablesforwhichchangesintheallowanceforlossesoccurredduringtheperiod:
□Applicable√NotapplicableAmountofprovisionforbaddebtsforthecurrentperiodandthebasisadoptedforassessingwhether
2024
thereisasignificantincreaseinthecreditriskoffinancialinstruments
□Applicable√Notapplicable
(4).Provisionforbaddebts
□Applicable√NotapplicableOfwhichtheamountofbaddebtprovisionrecoveryorreversalforthecurrentperiodissignificant:
□Applicable√Notapplicable
(5).Long-termreceivablesactuallywrittenoffduringtheperiod
□Applicable√NotapplicableOfwhichsignificantlong-termreceivableswrittenoff
□Applicable√NotapplicableNotetolong-termreceivableswrittenoff:
□Applicable√NotapplicableOthernotes
□Applicable√Notapplicable
2024
17.Long-termequityinvestments
(1).Particularsonlong-termequityinvestments
√Applicable□Notapplicable
Unit：YuanCurrency：RMB
| InvestedEntity | BalanceattheBeginningofthePeriod | Decrease/Increaseinthecurrentperiod | BalanceattheEndofthePeriod | Balanceofimpairmentprovisionattheendoftheperiod | |||||||
| InvestmentIncreased | InvestmentDecreased | Investmentprofitandlossrecognizedundertheequitymethod | Adjustmentonothercomprehensiveincome | Otherchangesinequity | Cashdividendsorprofitdeclaredtodistribute | Provisionforimpairmentaccrued | Others | ||||
| I.Jointventures | |||||||||||
| TuopuElectricalAppliancesCo.,Ltd. | 99,109,088.70 | 47,623,595.49 | 50,000,000.00 | 96,732,684.19 | |||||||
| NingboBorgersTuopuAutomobilePartsCo.,Ltd. | 40,532,358.76 | 19,005,379.52 | -1,766,346.87 | -57,771,391.41 | |||||||
| Subtotal | 139,641,447.46 | 19,005,379.52 | 45,857,248.62 | 50,000,000.00 | -57,771,391.41 | 96,732,684.19 | |||||
| II.Affiliates | |||||||||||
Subtotal
| Subtotal | |||||||||
| Total | 139,641,447.46 | 19,005,379.52 | 45,857,248.62 | 50,000,000.00 | -57,771,391.41 | 96,732,684.19 |
2024
(2).Particularsonimpairmenttestoflong-termequityinvestments
□Applicable√Non-applicableOthernotes:
AsofDecember31,2024,therewasnoindicationofimpairmentfortheCompany'sforeigninvestmentinjointventuresandthereforenoimpairmenttestwasperformed.Recoverableamountdeterminedasfairvaluelesscostsofdisposal
□Applicable√NotapplicableRecoverableamountdeterminedaspresentvalueofestimatedfuturecashflows
□Applicable√NotapplicableReasonsformaterialinconsistenciesbetweencurrentandprior-yearimpairmenttestAssumptionsorexternaldata
□Applicable√NotapplicableReasonsforMaterialDiscrepanciesBetweenPrior-YearImpairmentTestAssumptionsandCurrentActualConditions
□Applicable√Notapplicable
18.Otherequityinstrumentinvestments
(1).Particularsofotherequityinstrumentinvestments
□Applicable√Non-applicable
(2).Notetotheexistenceofderecognitionduringtheperiod
□Applicable√Non-applicableOthernotes
□Applicable√Non-applicable
19.Othernon-currentfinancialassetsOthernotes
□Applicable√Non-applicableOthernotes:
Othernotes
□Applicable√Non-applicable
20.InvestmentpropertyMeasurementoptionsofinvestmentproperty
(1).Investmentpropertiesmeasuredbycostmethod
Unit:YuanCurrency:RMB
| Item | Buildingsandconstructions | Landuserights | ProjectsunderConstruction | Total |
| I.Originalbookvalue | ||||
| 1.Balanceatthebeginningoftheperiod | 44,143,733.52 | 6,689,012.00 | 50,832,745.52 | |
| 2.IncreasedintheCurrentPeriod | ||||
| (1)Purchase | ||||
| (2)Transfer-inof | ||||
2024
| Inventory\Fixedassets\Constructioninprogress | ||||
| (3)Increasefrombusinesscombination | ||||
| 3.DecreasedintheCurrentPeriod | ||||
| (1)Disposal | ||||
| (2)OtherTransfer-out | ||||
| 4.Balanceattheendoftheperiod | 44,143,733.52 | 6,689,012.00 | 50,832,745.52 | |
| II.AccumulatedDepreciationandAmortization | ||||
| 1.Balanceatthebeginningoftheperiod | 24,890,821.98 | 2,962,831.99 | 27,853,653.97 | |
| 2.IncreasedintheCurrentPeriod | 1,986,468.01 | 160,536.29 | 2,147,004.30 | |
| (1)AccrualorAmortization | 1,986,468.01 | 160,536.29 | 2,147,004.30 | |
| 3.DecreasedintheCurrentPeriod | ||||
| (1)Disposal | ||||
| (2)Othertransfer-out | ||||
| 4.Balanceattheendoftheperiod | 26,877,289.99 | 3,123,368.28 | 30,000,658.27 | |
| III.ProvisionforImpairment | ||||
| 1.Balanceatthebeginningoftheperiod | ||||
| 2.IncreasedintheCurrentPeriod | ||||
| (1)Accrual | ||||
| 3.DecreasedintheCurrentPeriod | ||||
| (1)Disposal | ||||
| (2)OtherTransfer-out | ||||
| 4.Balanceattheendoftheperiod | ||||
| IV.Bookvalue | ||||
| 1.Bookvalueattheendoftheperiod | 17,266,443.53 | 3,565,643.72 | 20,832,087.25 | |
| 2.Bookvalueatthebeginningoftheperiod | 19,252,911.54 | 3,726,180.01 | 22,979,091.55 | |
(2).Particularsofinvestmentpropertywithoutthepropertyrightcertificategranted
□Applicable√Non-applicable
(3).Impairmenttestofinvestmentpropertiesusingthecostmeasurementmodel
□Applicable√Non-applicableOthernotes:
□Applicable√Non-applicableRecoverableamountdeterminedasfairvaluelesscostsofdisposal
□Applicable√Non-applicable
2024
Recoverableamountdeterminedaspresentvalueofestimatedfuturecashflows
□Applicable√Non-applicableReasonsformaterialinconsistenciesbetweencurrentandprior-yearimpairmenttestassumptionsorexternaldata
□Applicable√Non-applicableReasonsformaterialdiscrepanciesbetweenprior-yearimpairmenttestassumptionsandcurrentactualconditions
□Applicable√Non-applicableOthernotes:
□Applicable√Non-applicable
21.FixedassetsPresentationofitems
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Balanceattheendoftheperiod | Balanceatthebeginningoftheperiod |
| Fixedassets | 13,684,596,301.61 | 11,518,327,615.38 |
| Disposaloffixedassets | ||
| Total | 13,684,596,301.61 | 11,518,327,615.38 |
Othernotes:
□Applicable√Non-applicable
2024
Fixedassets
(1).Particularsonfixedassets
√Applicable□Non-applicable
Unit：YuanCurrency：RMB
| Item | Housesandbuildings | Meansoftransportation | Machineryandequipment | Officeequipmentandothers | Buildingsforcommercialuse | photovoltaicengineeringprojects | Total |
| I.Originalbookvalue: | |||||||
| 1.Balanceatthebeginningoftheperiod | 4,592,213,418.68 | 10,625,086,220.88 | 41,932,295.32 | 290,246,020.06 | 68,200,328.83 | 144,838,446.00 | 15,762,516,729.77 |
| 2.IncreasedintheCurrentPeriod | 432,811,587.98 | 2,981,608,908.93 | 10,394,892.45 | 39,571,845.60 | 237,043,936.37 | 3,701,431,171.33 | |
| （1）Purchase | 1,028,533.59 | 472,734,712.70 | 8,442,168.62 | 27,187,663.27 | 509,393,078.18 | ||
| （2）Transfer-inofprojectunderconstruction | 427,489,028.31 | 2,483,118,247.25 | 11,560,035.18 | 237,043,936.37 | 3,159,211,247.11 | ||
| （3）Increasefrombusinesscombination | 4,294,026.08 | 25,755,948.98 | 1,952,723.83 | 824,147.15 | 32,826,846.04 | ||
| 3.DecreasedamountintheCurrentPeriod | 3,670,497.48 | 110,108,100.34 | 3,448,297.40 | 6,103,675.10 | 123,330,570.32 | ||
| （1）Disposalorscrapping | 3,670,497.48 | 110,108,100.34 | 3,448,297.40 | 6,103,675.10 | 123,330,570.32 | ||
| 4.Balanceat | 5,021,354,509.18 | 13,496,587,029.47 | 48,878,890.3 | 323,714,190.56 | 68,200,328.8 | 381,882,382.37 | 19,340,617,330.78 |
2024
| theendoftheperiod | 7 | 3 | |||||
| II.AccumulatedDepreciation | |||||||
| 1.Balanceatthebeginningoftheperiod | 753,932,863.11 | 3,296,106,717.48 | 24,374,512.79 | 156,653,650.45 | 7,030,210.64 | 6,091,159.92 | 4,244,189,114.39 |
| 2.IncreasedintheCurrentPeriod | 216,691,177.83 | 1,222,323,447.91 | 8,062,046.34 | 28,714,292.02 | 1,662,622.33 | 13,218,822.58 | 1,490,672,409.01 |
| (1)Accrual | 214,906,838.47 | 1,211,306,168.45 | 6,374,053.34 | 28,101,014.99 | 1,662,622.33 | 13,218,822.58 | 1,475,569,520.16 |
| (2)BusinessCombinationIncrease | 1,784,339.36 | 11,017,279.46 | 1,687,993.00 | 613,277.03 | 15,102,888.85 | ||
| 3.DecreasedamountintheCurrentPeriod | 2,531,148.05 | 70,671,127.32 | 3,067,651.93 | 2,570,566.93 | 78,840,494.23 | ||
| （1）Disposalorscrapping | 2,531,148.05 | 70,671,127.32 | 3,067,651.93 | 2,570,566.93 | 78,840,494.23 | ||
| 4.Balanceattheendoftheperiod | 968,092,892.89 | 4,447,759,038.07 | 29,368,907.20 | 182,797,375.54 | 8,692,832.97 | 19,309,982.50 | 5,656,021,029.17 |
| III.ProvisionforImpairment | |||||||
| 1.Balanceatthebeginningoftheperiod | |||||||
| 2.IncreasedintheCurrentPeriod | |||||||
| (1)Accrual | |||||||
| 3.DecreasedintheCurrentPeriod | |||||||
| （1）Disposalorscrapping | |||||||
| 4.Balanceat | |||||||
2024
| theendoftheperiod | |||||||
| IV.Bookvalue | |||||||
| 1.Bookvalueattheendoftheperiod | 4,053,261,616.29 | 9,048,827,991.40 | 19,509,983.17 | 140,916,815.02 | 59,507,495.86 | 362,572,399.87 | 13,684,596,301.61 |
| 2.Bookvalueatthebeginningoftheperiod | 3,838,280,555.57 | 7,328,979,503.40 | 17,557,782.53 | 133,592,369.61 | 61,170,118.19 | 138,747,286.08 | 11,518,327,615.38 |
2024
(2).Particularsoftemporarilyidlefixedassets
□Applicable√Non-applicable
(3).Particularsoffixedassetsrentedunderfinancialleasing
□Applicable√Non-applicable
(4).Particularsoffixedassetswithoutpropertyrightcertificategranted
√Applicable□Non-applicable
Unit：YuanCurrency：RMB
| Item | BookValue | Reasonfornon-grantedpropertyrightcertificate |
| Housesandbuildings | 491,054,887.31 | Pending |
(5).Impairmenttestoffixedassets
□Applicable√Non-applicableOthernotes:
□Applicable√Non-applicableRecoverableamountdeterminedasfairvaluelesscostsofdisposal
□Applicable√Non-applicableRecoverableamountdeterminedaspresentvalueofestimatedfuturecashflows
□Applicable√Non-applicableReasonsformaterialinconsistenciesbetweencurrentandprior-yearimpairmenttestassumptionsorexternaldata
□Applicable√Non-applicableReasonsformaterialdiscrepanciesbetweenprior-yearimpairmenttestassumptionsandcurrentactualconditions
□Applicable√Non-applicableOthernotes:
□Applicable√Non-applicableDisposaloffixedassets
□Applicable√Non-applicable
22.ProjectunderconstructionPresentationofitems
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | BalanceattheEndofthePeriod | BalanceattheBeginningofthePeriod |
| Projectunderconstruction | 2,284,619,095.64 | 2,999,617,867.21 |
| Constructionsuppliesandmaterials | ||
| Total | 2,284,619,095.64 | 2,999,617,867.21 |
Othernotes:
□Applicable√Non-applicable
Projectunderconstruction
(1).Particularsonprojectunderconstruction
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Balanceattheendoftheperiod | Balanceatthebeginningoftheperiod | ||||
| BookBalance | Provisionfordeclineinvalue | Bookvalue | BookBalance | Provisionfordeclineinvalue | Bookvalue | |
| Equipmentandsoftwareinstallationproject | 1,204,150,356.00 | 1,204,150,356.00 | 2,243,955,143.40 | 2,243,955,143.40 | ||
| Toolsunderfabrication | 134,761,787.74 | 134,761,787.74 | 123,931,701.82 | 123,931,701.82 | ||
| HuzhouTuopuproject | 18,224,356.17 | 18,224,356.17 | 32,669,447.24 | 32,669,447.24 | ||
| SkateboardChassisProject | 257,106,919.85 | 257,106,919.85 | 55,006,264.64 | 55,006,264.64 | ||
| Parentcompanyproject | 503,244.16 | 503,244.16 | 219,377.88 | 219,377.88 | ||
| NingboQianhuiProject | 834,597.60 | 834,597.60 | ||||
| TuopuEVProject | 452,283.19 | 452,283.19 | ||||
| AnhuiTuopuproject | 100,655,085.19 | 100,655,085.19 | ||||
| TuopuPolandProject | 39,829,470.28 | 39,829,470.28 | 45,903,374.46 | 45,903,374.46 | ||
| TuopuPhotovoltaicTechnology(HangzhouBay)Project | 106,205,202.98 | 106,205,202.98 | ||||
| TuopuPhotovoltaicTechnology(Jinhua)Project | 6,413,011.85 | 6,413,011.85 | ||||
| TuopuPhotovoltaicTechnology(NingboYinzhou)Project | 29,159,790.00 | 29,159,790.00 | ||||
| TuopuPhotovoltaicTechnology(Taizhou)Project | 2,434,216.41 | 2,434,216.41 | ||||
| TuopuPhotovoltaicTechnology(Wuhan)Project | 7,450,367.54 | 7,450,367.54 | ||||
| TuopuPhotovoltaicTechnology(Xiangtan)Project | 19,784,124.40 | 19,784,124.40 | ||||
| TuopuAmericaproject | 16,776,791.11 | 16,776,791.11 | ||||
| TuopuMexicoProject | 270,811,498.02 | 270,811,498.02 | 8,528,146.96 | 8,528,146.96 | ||
| TaizhouTuopuproject | 760,550.45 | 760,550.45 | ||||
| Xi’anTuopuproject | 24,788,874.02 | 24,788,874.02 | 8,614,686.36 | 8,614,686.36 | ||
| YuxiangZhixingProject | 184,010,037.90 | 184,010,037.90 | 97,650,602.44 | 97,650,602.44 | ||
| ChongqingChassisProject | 133,655,760.39 | 133,655,760.39 | 108,989,892.40 | 108,989,892.40 | ||
| Total | 2,284,619,095.64 | 2,284,619,095.64 | 2,999,617,867.21 | 2,999,617,867.21 |
(2).Changesinsignificantconstructioninprogressduringthecurrentperiod
√Applicable□Non-applicable
| Item | Budget | BalanceattheStartofthePeriod | Increasedinthecurrentperiod | Transferamountsoffixedassetsinthisperiod | Otheramountsdecreasedincurrentperiod | BalanceattheEndofthePeriod | Projectaccumulativeinvestmentasapercentageofthebudget(%) | Projectprogress | Accumulatedcapitalizedinterestamount | Including:capitalizedinterestamountinthecurrentperiod | Capitalizationrateoftheinterestinthecurrentperiod(%) | CapitalSource |
| Equipmentandsoftwareinstallationproject | 2,243,955,143.40 | 1,431,293,776.32 | 2,331,052,210.07 | 65,780,870.21 | 1,278,415,839.44 | Underconstruction | Self-fundedorraised | |||||
| TuopuEVProject | 1,300,000,000.00 | 452,283.19 | 53,432,498.69 | 53,884,781.88 | 99.55 | Completed | Self-fundedorraised | |||||
| SkateboardChassisProject | 1,250,000,000.00 | 55,006,264.64 | 245,251,961.29 | 43,151,306.08 | 257,106,919.85 | 63.75 | Underconstruction | Self-fundedorraised | ||||
| YuxiangZhixingProject | 300,000,000.00 | 97,650,602.44 | 86,359,435.46 | 184,010,037.90 | 61.34 | Underconstruction | Self-fundedorraised |
| TuopuPolandProject | 250,000,000.00 | 45,903,374.46 | 4,240,530.90 | 10,314,435.08 | 39,829,470.28 | 87.56 | Underconstruction | Self-funded | |||
| ChongqingChassisProject | 220,000,000.00 | 108,989,892.40 | 72,633,486.83 | 176,315,590.07 | 5,307,789.16 | 82.56 | Underconstruction | Self-fundedorraised | |||
| TuopuPhotovoltaicTechnology(HangzhouBay)Project | 220,000,000.00 | 106,205,202.98 | 39,564,416.67 | 145,769,619.65 | 90.10 | Completed | Self-funded | ||||
| Xi’anTuopuproject | 130,000,000.00 | 8,614,686.36 | 70,256,675.45 | 78,871,361.81 | 60.67 | Underconstruction | Self-funded | ||||
| HuzhouTuopuproject | 150,000,000.00 | 32,669,447.24 | 60,885,218.61 | 75,330,309.68 | 18,224,356.17 | 62.37 | Underconstruction | Self-fundedorraised | |||
| AnhuiTuopuproject | 200,000,000.00 | 100,655,085.19 | 39,592,525.32 | 140,247,610.51 | 70.12 | Underconstruction | Self-fundedorraised | ||||
| TuopuMexicoProject | 500,000,000.00 | 280,465,496.16 | 9,653,998.14 | 270,811,498.02 | 56.09 | Underconstruction | Self-fundedorraised | ||||
| Total | 2,800,101,982.30 | 2,383,976,021.70 | 2,985,719,861.16 | 65,780,870.21 | 2,132,577,272.63 | / | / | / | / |
Unit:YuanCurrency:RMB
(1).Provisionforimpairmentofconstructioninprogressinthecurrentperiod
□Applicable√Non-applicable
(2).Impairmenttestofprojectunderconstruction
□Applicable√Non-applicableOthernotes:
□Applicable√Non-applicable
Recoverableamountdeterminedasfairvaluelesscostsofdisposal
□Applicable√Non-applicable
Recoverableamountdeterminedaspresentvalueofestimatedfuturecashflows
□Applicable√Non-applicableReasonsformaterialinconsistenciesbetweencurrentandprior-yearimpairmenttestassumptionsorexternaldata
□Applicable√Non-applicable
Reasonsformaterialdiscrepanciesbetweenprior-yearimpairmenttestassumptionsandcurrent
actualconditions
□Applicable√Non-applicableOthernotes:
□Applicable√Non-applicableConstructionmaterialsandsupplies
（5）.Particularsonconstructionmaterialsandsupplies
□Applicable√Non-applicable
23.Productivebiologicalassets
(1).Productivebiologicalassetsmeasuredatcost
□Applicable√Non-applicable
(2).Impairmenttestofproductivebiologicalassetsusingthecostmeasurement
□Applicable√Non-applicableRecoverableamountdeterminedasfairvaluelesscostsofdisposal
□Applicable√Non-applicableRecoverableamountdeterminedaspresentvalueofestimatedfuturecashflows
□Applicable√Non-applicableReasonsformaterialinconsistenciesbetweencurrentandprior-yearimpairmenttestassumptionsorexternaldata
□Applicable√Non-applicableReasonsformaterialdiscrepanciesbetweenprior-yearimpairmenttestassumptionsandcurrentactualconditions
□Applicable√Non-applicable
(3).Productivebiologicalassetsmeasuredatfairvalue
□Applicable√Non-applicableOthernotes
□Applicable√Non-applicable
24.Oilandgasassets
(1)Particularsonoilandgasassets
□Applicable√Non-applicable
(2)Impairmenttestofoilandgasassets
□Applicable√Non-applicableRecoverableamountdeterminedasfairvaluelesscostsofdisposal
□Applicable√Non-applicableRecoverableamountdeterminedaspresentvalueofestimatedfuturecashflows
□Applicable√Non-applicableReasonsformaterialinconsistenciesbetweencurrentandprior-yearimpairmenttestassumptionsorexternaldata
□Applicable√Non-applicableReasonsformaterialdiscrepanciesbetweenprior-yearimpairmenttestassumptionsandcurrentactualconditions
□Applicable√Non-applicable
25.Right-of-useassets
(1)Particularsonright-of-useassets
□Applicable√Non-applicable
Unit：YuanCurrency：RMB
| Item | Housesandbuildings | Total | |||
| I.Originalbookvalue | |||||
| (1).PriorYear-EndBalance | 395,609,526.26 | 395,609,526.26 | |||
| (2).IncreasedintheCurrentPeriod | 291,880,753.97 | 291,880,753.97 | |||
| --Newleases | 288,139,656.42 | 288,139,656.42 | |||
| --Other | 3,741,097.55 | 3,741,097.55 | |||
| (3)DecreasedintheCurrentPeriod | 44,232,434.28 | 44,232,434.28 | |||
| --Disposal | 38,936,749.35 | 38,936,749.35 | |||
| --Other | 5,295,684.93 | 5,295,684.93 | |||
| (4).Balanceattheendoftheperiod | 643,257,845.95 | 643,257,845.95 | |||
| II.Accumulatedamortization | |||||
| (1).PriorYear-EndBalance | 54,986,304.24 | 54,986,304.24 | |||
| (2).IncreasedintheCurrentPeriod | 82,607,799.70 | 82,607,799.70 | |||
| --Accrual | 81,976,097.14 | 81,976,097.14 | |||
| --Other | 631,702.56 | 631,702.56 | |||
| (3).DecreasedintheCurrentPeriod | 28,596,118.27 | 28,596,118.27 |
| --Disposal | 26,474,092.21 | 26,474,092.21 |
| --Other | 2,122,026.06 | 2,122,026.06 |
| 4.Balanceattheendoftheperiod | 108,997,985.67 | 108,997,985.67 |
| III.ProvisionforImpairment | ||
| 1.Balanceatthebeginningoftheperiod | ||
| 2.IncreasedintheCurrentPeriod | ||
| (1)Accrual | ||
| 3.DecreasedamountintheCurrentPeriod | ||
| (1)Disposal | ||
| 4.Balanceattheendoftheperiod | ||
| IV.Bookvalue | ||
| 1.Bookvalueattheendoftheperiod | 534,259,860.28 | 534,259,860.28 |
| 2.Bookvalueatthebeginningoftheperiod | 340,623,222.02 | 340,623,222.02 |
(2)Impairmenttestofright-of-useassets
□Applicable√Non-applicable
(3)Impairmenttestofright-of-useassets
□Applicable√Non-applicableRecoverableamountdeterminedasfairvaluelesscostsofdisposal
□Applicable√Non-applicableRecoverableamountdeterminedaspresentvalueofestimatedfuturecashflows
□Applicable√Non-applicableReasonsformaterialinconsistenciesbetweencurrentandprior-yearimpairmenttestassumptionsorexternaldata
□Applicable√Non-applicableReasonsformaterialdiscrepanciesbetweenprior-yearimpairmenttestassumptionsandcurrentactualconditions
□Applicable√Non-applicable
26.Intangibleassets
(1).Particularsonintangibleassets
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Landuserights | Softwares | Emissionrights | Total |
| I.Originalbookvalue | ||||
| 1.OpeningBalance | 1,425,142,792.01 | 156,617,424.52 | 1,600,879.51 | 1,583,361,096.04 |
| 2.IncreasedintheCurrentPeriod | 6,253,992.42 | 30,097,304.88 | 76,792.38 | 36,428,089.68 |
| (1)Purchase | 6,253,992.42 | 28,797,604.13 | 76,792.38 | 35,128,388.93 |
| (2)Increaseduetobusinesscombination | 1,299,700.75 | 1,299,700.75 | ||
| 3.DecreasedamountintheCurrentPeriod | 10,547,577.01 | 196,547.63 | 10,744,124.64 | |
| (1)Disposal | 196,547.63 | 196,547.63 | ||
| (2)Other | 10,547,577.01 | 10,547,577.01 | ||
| 4.Balanceattheendoftheperiod | 1,420,849,207.42 | 186,518,181.77 | 1,677,671.89 | 1,609,045,061.08 |
| II.Accumulatedamortization | ||||
| 1.Balanceatthebeginningoftheperiod | 130,605,213.29 | 61,064,068.30 | 1,550,611.96 | 193,219,893.55 |
| 2.IncreasedintheCurrentPeriod | 27,449,462.26 | 19,114,110.01 | 7,662.59 | 46,571,234.86 |
| (1)Accrual | 27,449,462.26 | 18,227,066.26 | 7,662.59 | 45,684,191.11 |
| (2)Increaseduetobusinesscombination | 887,043.75 | 887,043.75 | ||
| 3.DecreasedamountintheCurrentPeriod | 86,416.18 | 178,432.06 | 264,848.24 | |
| (1)Disposal | 86,416.18 | 178,432.06 | ||
| 4.Balanceattheendoftheperiod | 157,968,259.37 | 79,999,746.25 | 1,558,274.55 | 239,526,280.17 |
| III.ProvisionforImpairment | ||||
| 1.Balanceatthebeginningoftheperiod | ||||
| 2.IncreasedintheCurrentPeriod | ||||
| (1)Accrual | ||||
| 3.DecreasedintheCurrentPeriod | ||||
| (1)Disposal | ||||
| 4.Balanceattheendoftheperiod | ||||
| IV.Bookvalue | ||||
| 1.Bookvalueattheendoftheperiod | 1,262,880,948.05 | 106,518,435.52 | 119,397.34 | 1,369,518,780.91 |
| 2.Bookvalueatthebeginningoftheperiod | 1,294,537,578.72 | 95,553,356.22 | 50,267.55 | 1,390,141,202.49 |
Theproportionofintangibleassetsformedthroughin-houseresearchanddevelopmenttothebalanceofintangibleassetsattheendoftheperiodwas0
(2)Dataresourcesconfirmedasintangibleassets
□Applicable√Non-applicable
(3)Landuserightswithoutpropertyownershipcertificates
□Applicable√Non-applicable
(3)ImpairmentTestingofIntangibleAssets
□Applicable√Non-applicableOthernotes:
□Applicable√Non-applicableRecoverableamountdeterminedasfairvaluelesscostsofdisposal
□Applicable√Non-applicableRecoverableamountdeterminedaspresentvalueofestimatedfuturecashflows
□Applicable√Non-applicableReasonsformaterialinconsistenciesbetweencurrentandprior-yearimpairmenttestassumptionsorexternaldata
□Applicable√Non-applicableReasonsformaterialdiscrepanciesbetweenprior-yearimpairmenttestassumptionsandcurrentactualconditions
□Applicable√Non-applicable
28.Goodwill
(1).Originalvalueofgoodwill
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Nameofinvestedentityormatterforminggoodwill | Balanceatthebeginningoftheperiod | Increasedinthecurrentperiod | Decreasedinthecurrentperiod | Balanceattheendoftheperiod | ||
| Generatedfrombusinesscombination | Other | Disposal | Other | |||
| ZhejiangTowin,SuiningTuopu | 279,645,980.89 | 279,645,980.89 | ||||
| TuopuNorthAmericaLimited | 1,080,371.29 | 1,080,371.29 | ||||
| NingboQianhui | 6,058,537.77 | 6,058,537.77 | ||||
| ChongqingTuopu | 565,010.88 | 565,010.88 | ||||
| Total | 287,349,900.83 | 287,349,900.83 | ||||
(2).Provisionofimpairmentingoodwill
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Nameofinvestedentityormatterforminggoodwill | Balanceatthebeginningoftheperiod | Increasedinthecurrentperiod | Decreasedinthecurrentperiod | Balanceattheendoftheperiod | ||
| Accrual | Other | Disposal | Other | |||
| ZhejiangTowin、SuiningTuopu | 78,108,305.34 | 78,108,305.34 | ||||
| TuopuNorthAmericaLimited | 1,080,371.29 | 1,080,371.29 | ||||
| NingboQianhui | 6,058,537.77 | 6,058,537.77 | ||||
| ChongqingTuopu | ||||||
| Total | 84,166,843.11 | 1,080,371.29 | 85,247,214.40 | |||
(3).Informationabouttheassetgrouporcombinationofassetgroupswherethegoodwillisapart
√Applicable□Non-applicable
| Name | Compositionandbasisoftheassetgrouporportfoliotowhichitbelongs | Operatingsegmentandbasis | Whetherconsistentwithpreviousyears |
| AssetportfolioofZhejiangTowin,SuiningTuopuChassis | Long-termoperatingassetsofZhejiangTowinandSuiningTuopu,aswellasthegoodwillallocatedtothisassetgroup,baseduponthesmallest | TheoperatingsegmentsareZhejiangTowinandSuiningTuopu,basedupontheinternalorganizationalstructure | Yes |
| combinationofassetscapableofgeneratingindependentcashflows. | |||
| AssetportfolioofTuopuNorthAmericaLimited | Long-termoperatingassetsofTuopuNorthAmericaLimited,aswellasthegoodwillallocatedtothisassetgroup,baseduponthesmallestcombinationofassetscapableofgeneratingindependentcashflows. | TheoperatingsegmentsareTuopuNorthAmericaLimited,basedupontheinternalorganizationalstructure | Yes |
| AssetportfolioofNingboQianhui | Long-termoperatingassetsofNingboQianhui,aswellasthegoodwillallocatedtothisassetgroup,baseduponthesmallestcombinationofassetscapableofgeneratingindependentcashflows. | TheoperatingsegmentsareNingboQianhui,basedupontheinternalorganizationalstructure | Yes |
| AssetportfolioofChongqingTuopu | Long-termoperatingassetsofChongqingTuopu(includingitswholly-ownedsubsidiaryHangzhouTuopu),aswellasthegoodwillallocatedtothisassetgroup,baseduponthesmallestcombinationofassetscapableofgeneratingindependentcashflows. | TheoperatingsegmentsareChongqingTuopu(includingitswholly-ownedsubsidiaryHangzhouTuopu),basedupontheinternalorganizationalstructure | Yes |
Changeinassetgrouporcombinationofassetgroups
□Applicable√NotapplicableOthernotes
□Applicable√Notapplicable
(4).SpecificdeterminationofrecoverableamountDeterminationofrecoverableamountasthenetfairvaluelessdisposalcosts
□Applicable√NotapplicableDeterminationofpresentvalueofrecoverableamountasestimatedfuturecashflows
√Applicable□Notapplicable
Unit:YuanCurrency:RMB
| Item | Bookvalue | Recoverableamount | Impairmentamount | Lengthofyearsintheforecastperiod | Keyparametersintheforecastperiod(growthrates,profitmargins,etc.) | Basisfordeterminingtheparametersintheforecastperiod | Keyparametersinthestabilizationperiod(growthrates,profitmargins,discountrates,etc.) | Determinationbasisforkeyparametersinthestabilizationperiod |
| AssetportfolioofZhejiangTowin,SuiningTuopuchassisbusiness | 550,002,118.48 | 632,000,000.00 | 5 | CAGRof3.49%inoperatingincomefrom2025to2029,averagegrossmarginof18.33%,andpre-taxdiscountrateof13.22% | Keyparametersaredeterminedbasedonthemacroeconomicsituation,industrydevelopmenttrends,historicalannualoperatingconditionsandfuturedevelopmentplansoftheenterprise | Operatingincomegrowthrateof0%,grossmarginof18.83%andpre-taxdiscountrateof13.22%forthestabilizationperiod | Keyparametersaredeterminedbasedonthemacroeconomicsituation,industrydevelopmenttrends,historicalannualoperatingconditionsandfuturedevelopmentplansoftheenterprise | |
| Assetportfolioof | 4,724,670.53 | 1,136,153.92 | 1,080,371.29 | 5 | CAGRof2.17% | Keyparameters | Operating | Keyparameters |
| TuopuNorthAmericaLimited | inoperatingincomefrom2025to2029,averagegrossmarginof10.22%,andpre-taxdiscountrateof15.29% | aredeterminedbasedonthemacroeconomicsituation,industrydevelopmenttrends,historicalannualoperatingconditionsandfuturedevelopmentplansoftheenterprise | incomegrowthrateof0%,grossmarginof10.22%andpre-taxdiscountrateof15.29%forthestabilizationperiod | aredeterminedbasedonthemacroeconomicsituation,industrydevelopmenttrends,historicalannualoperatingconditionsandfuturedevelopmentplansoftheenterprise | ||||
| AssetportfolioofChongqingTuopu | 27,647,335.87 | 73,346,973.92 | 5 | CAGRof5.00%inoperatingincomefrom2025to2029,averagegrossmarginof4.67%,andpre-taxdiscountrateof13.22% | Keyparametersaredeterminedbasedonthemacroeconomicsituation,industrydevelopmenttrends,historicalannualoperatingconditionsandfuturedevelopmentplansoftheenterprise | Operatingincomegrowthrateof0%,grossmarginof4.67%andpre-taxdiscountrateof13.22%forthestabilizationperiod | Keyparametersaredeterminedbasedonthemacroeconomicsituation,industrydevelopmenttrends,historicalannualoperatingconditionsandfuturedevelopmentplansoftheenterprise | |
| Total | 582,374,124.88 | 706,483,127.84 | 1,080,371.29 | / | / | / | / | / |
Reasonsfordifferencesbetweentheforegoinginformationandinformationusedinimpairmenttestsinpreviousyearsorexternalinformationthatisclearlyinconsistentwiththeinformation
□Applicable√NotapplicableReasonsfordifferencesbetweentheinformationusedintheCompany'simpairmenttestsinpreviousyearsandtheactualsituationinthecurrentyearthatareobviouslyinconsistent
□Applicable√Notapplicable
(5).PerformancecommitmentsandcorrespondinggoodwillimpairmentPerformancecommitmentsexistedatthetimeoftheformationofgoodwillandthereportingperiodorthepreviousperiodofthereportingperiodwaswithintheperformancecommitmentperiod.
□Applicable√NotapplicableOthernotes
□Applicable√Notapplicable
28.Long-termprepaidexpenses
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Balanceatthebeginningoftheperiod | Increasedinthecurrentperiod | PrepaidExpensesinThisPeriod | OtherAmountsDecreased | BalanceattheEndofthePeriod |
| Renovationcost,etc. | 57,533,803.90 | 25,358,988.13 | 26,861,482.22 | 17,706.49 | 56,013,603.32 |
| Other | 111,564,725.89 | 126,343,833.27 | 71,984,259.45 | 12,342,426.46 | 153,581,873.25 |
| Total | 169,098,529.79 | 151,702,821.40 | 98,845,741.67 | 12,360,132.95 | 209,595,476.57 |
29.Deferredincometaxassets/deferredincometaxliabilities
(1).Deferredincometaxassetsthatarenotwrittenoff
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Balanceattheendoftheperiod | Balanceatthebeginningoftheperiod |
| Deductabletemporarydifference | Deferredtaxassets | Deductabletemporarydifference | Deferredtaxassets | ||
| Provisionforimpairmentofassets | 687,415,939.24 | 156,064,901.25 | 580,348,774.48 | 132,000,760.12 | |
| Unrealizedprofitsfrominternaltransactions | 176,190,876.23 | 48,262,422.77 | 152,661,213.35 | 37,356,680.93 | |
| Deductibleloss | |||||
| Deferredincome | 408,021,000.71 | 66,018,367.53 | 424,223,057.18 | 73,625,068.41 | |
| Transactionalfinancialassets | 383,273.84 | 57,491.08 | |||
| Leaseliabilities | 568,321,864.64 | 160,857,969.30 | 344,361,800.01 | 93,729,723.27 | |
| Temporarydifferencesinconvertiblebonds | 6,680,186.90 | 1,002,028.04 | |||
| Total | 1,846,629,867.72 | 432,205,688.89 | 1,501,978,118.86 | 336,769,723.81 | |
(2).Deferredincometaxliabilitiesthatarenotwrittenoff
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Balanceattheendoftheperiod | Balanceatthebeginningoftheperiod | ||
| Taxabletemporarydifference | DeferredIncomeTaxLiabilities | Taxabletemporarydifference | DeferredIncomeTaxLiabilities | |
| Assessedappreciationofassetsfrombusinesscombinationofthecompaniesnotunderthesamecontrol | 33,500,278.28 | 8,375,069.57 | 36,815,532.32 | 9,203,883.08 |
| Changesinthefairvalueofotherequity | ||||
| instrumentinvestments | ||||
| Changesinthefairvalueofotherdebtinvestments | ||||
| Right-of-useassets | 534,259,860.28 | 151,245,722.22 | 340,623,222.02 | 92,510,712.25 |
| Accelerateddepreciationoffixedassets | 660,810,365.80 | 99,121,554.87 | 611,948,559.17 | 91,792,283.87 |
| Temporarydifferencesinconvertiblebonds | 52,409,376.44 | 7,861,406.47 | ||
| Total | 1,228,570,504.36 | 258,742,346.66 | 1,041,796,689.95 | 201,368,285.67 |
(3).Deferredincometaxassetsorliabilitiespresentedbynetamountafteroffset
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Amountofdeferredtaxassetsandliabilitiesoffsetatendofperiod | Endingbalanceofdeferredtaxassetsorliabilitiesafteroffsetting | Amountofdeferredtaxassetsandliabilitiesoffsetatbeginningofperiod | Beginningbalanceofdeferredtaxassetsorliabilitiesafteroffsetting |
| Deferredincometaxassets | 193,079,127.35 | 239,126,561.54 | 134,530,264.99 | 202,239,458.82 |
| Deferredincometaxliabilities | 193,079,127.35 | 65,663,219.31 | 134,530,264.99 | 66,838,020.68 |
(4).Particularsonunrecognizeddeferredincometaxasset
□Applicable√Non-applicable
(5).Deductiblelossesofunrecognizeddeferredincometaxassetswillexpireinthefollowingyears
□Applicable√Non-applicableOthernotes:
□Applicable√Non-applicable
31.Othernon-currentassets
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Balanceattheendoftheperiod | Balanceatthebeginningoftheperiod |
| Bookbalance | Provisionfordeclineinvalue | Bookvalue | Bookbalance | Provisionfordeclineinvalue | Bookvalue | |
| Contractacquisitioncost | ||||||
| Contractperformancecost | ||||||
| Returncostreceivable | ||||||
| Contractassets | ||||||
| Prepaymentsorconstructionequipment | ||||||
| PrepaymentforEngineeringEquipment | 219,274,564.68 | 219,274,564.68 | 292,058,305.82 | 292,058,305.82 | ||
| Total | 219,274,564.68 | 219,274,564.68 | 292,058,305.82 | 292,058,305.82 |
31.Assetswithrestrictedownershiporrighttouse
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Endofperiod | Beginningofperiod | |||||||
| Bookbalance | Bookvalue | Typeofrestriction | Conditionofrestriction | Bookbalance | Bookvalue | Typeofrestriction | Conditionofrestriction | ||
| Monetaryfunds | 45,499,260.99 | 45,499,260.99 | Other | Securitydeposit | 541,429,058.76 | 541,429,058.76 | Other | Securitydeposit | |
| NotesReceivable | 18,160,355.02 | 17,252,337.27 | Pledge | Pledge | 482,580,085.17 | 480,750,837.88 | Pledge | Pledge | |
| Inventories | |||||||||
| Including:dataresources | |||||||||
| Fixedassets | 913,115,117.42 | 586,524,641.09 | Mortgage | Mortgage | 964,846,332.80 | 664,318,107.19 | Mortgage | Mortgage | |
| Intangibleassets | 202,898,354.01 | 157,092,497.82 | Mortgage | Mortgage | 215,968,916.82 | 167,242,044.27 | Mortgage | Mortgage | |
| Including:dataresources | |||||||||
| Investmentproperties | 24,529,646.86 | 7,829,710.33 | Mortgage | Mortgage | 24,529,646.86 | 8,501,803.54 | Mortgage | Mortgage | |
| Receivablesfinancing | 1,315,399,958.40 | 1,315,399,958.40 | Pledge | Pledge | 438,059,635.51 | 438,059,635.51 | Pledge | Pledge | |
| Total | 2,519,602,692.70 | 2,129,598,405.90 | / | / | 2,667,413,675.92 | 2,300,301,487.15 | / | / | |
32.Short-termloans
(1).Categoryofshort-termloans
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Balanceattheendoftheperiod | Balanceatthebeginningoftheperiod |
| Pledgeloan | ||
| Mortgageloan | ||
| Guaranteedloan | ||
| Creditloan | 926,000,000.00 | 999,000,000.00 |
| Unmaturedinterest | 4,632,816.92 | 798,705.09 |
| Total | 930,632,816.92 | 999,798,705.09 |
(2).Short-termloansthathavebeenlateforrepayment
□Applicable√Non-applicableSignificantshort-termloansthathavebeenlateforrepayment:
□Applicable√Non-applicableOthernotes
□Applicable√Non-applicable
33.Transactionalfinancialliabilities
□Applicable√Non-applicableOthernotes:
□Applicable√Non-applicable
34.Derivativefinancialliabilities
□Applicable√Non-applicable
35.Notespayable
(1).Presentationofnotespayable
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Category | Balanceattheendoftheperiod | Balanceatthebeginningoftheperiod |
| Commercialacceptancenotes | ||
| Bankacceptancenotes | 3,198,453,321.20 | 2,855,691,274.58 |
| Total | 3,198,453,321.20 | 2,855,691,274.58 |
36.Accountspayable
(1).Presentationofaccountspayable
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Balanceattheendoftheperiod | Balanceatthebeginningoftheperiod |
| Within1year(including1year) | 6,043,390,700.25 | 5,220,972,897.01 |
| 1-2years(including2years) | 63,042,986.41 | 156,534,365.52 |
| 2-3years(including3years) | 17,048,363.15 | 16,867,130.16 |
| Over3years | 16,763,096.44 | 12,663,168.61 |
| Total | 6,140,245,146.25 | 5,407,037,561.30 |
(2).Importantaccountspayableagedover1year
□Applicable√Non-applicableOthernotes:
□Applicable√Non-applicable
37.Advancereceipts
(1).Presentationofadvancereceipts
□Applicable√Non-applicable
(2).Importantaccountspayableagedover1year
□Applicable√Non-applicable
(3).Amountsandreasonsforsignificantchangesinbookvalueduringthereportingperiod
□Applicable√Non-applicableOthernotes:
□Applicable√Non-applicable
38.Contractliabilities
(1).Particularsoncontractliabilities
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Balanceattheendoftheperiod | Balanceatthebeginningoftheperiod |
| Within1year(including1year) | 14,991,138.57 | 11,579,301.98 |
| 1-2years(including2years) | 769,022.75 | 1,010,852.47 |
| 2-3years(including3years) | 1,002,402.76 | 1,199,952.64 |
| Over3years | 7,499,873.73 | 6,300,170.64 |
| Total | 24,262,437.81 | 20,090,277.73 |
(2).Significantcontractualliabilitiesagedover1year
□Applicable√Non-applicable
(3).Amountandreasonforsignificantchangeinthebookvalueduringthereportingperiod
□Applicable√Non-applicableOthernotes:
□Applicable√Non-applicable
39.Payrollpayable
(1).Presentationofpayrollpayable
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | BalanceattheBeginningofthePeriod | Increasedinthecurrentperiod | Decreasedinthecurrentperiod | BalanceattheEndofthePeriod |
| I.Short-termremuneration | 342,631,685.69 | 2,870,031,080.44 | 2,823,260,662.51 | 389,402,103.62 |
| II.Demissionbenefits-definedcontributionscheme | 10,867,793.79 | 173,190,012.55 | 182,427,555.59 | 1,630,250.75 |
| III.Dismissalbenefits | ||||
| IV.Otherbenefitsduewithin1year | ||||
| Total | 353,499,479.48 | 3,043,221,092.99 | 3,005,688,218.10 | 391,032,354.37 |
(2).Presentationofshort-termremuneration
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | BalanceattheBeginningofthePeriod | Increasedinthecurrentperiod | Decreasedinthecurrentperiod | BalanceattheEndofthePeriod |
| 1.Wagesorsalaries,bonuses,allowancesandsubsidies | 319,012,621.05 | 2,514,238,157.02 | 2,447,794,164.50 | 385,456,613.57 |
| 2.Staffwelfare | 18,906,419.98 | 173,940,098.49 | 192,822,601.37 | 23,917.10 |
| 3.Socialinsurancecontributions | 2,008,884.98 | 75,409,477.13 | 76,759,331.58 | 659,030.53 |
| Including:medicalinsurancepremium | 1,697,162.65 | 65,522,275.56 | 66,636,171.46 | 583,266.75 |
| Workinjuryinsurancepremium | 278,632.14 | 9,815,833.28 | 10,030,929.86 | 63,535.56 |
| Birthinsurancepremium | 33,090.19 | 71,368.29 | 92,230.26 | 12,228.22 |
| 4.Housingfunds | 315,917.50 | 88,084,061.91 | 88,242,947.01 | 157,032.40 |
| 5.Laborunionandeducationfunds | 2,387,842.18 | 18,359,285.89 | 17,641,618.05 | 3,105,510.02 |
| 6.Short-term |
| paidabsences | ||||
| 7.Short-termprofitsharingplan | ||||
| Total | 342,631,685.69 | 2,870,031,080.44 | 2,823,260,662.51 | 389,402,103.62 |
(3).Presentationofdefinedcontributionplan
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Balanceatthebeginningoftheperiod | Increasedinthecurrentperiod | Decreasedinthecurrentperiod | Balanceattheendoftheperiod |
| 1.Basicpensioninsurancepremium | 10,553,084.23 | 166,039,594.04 | 175,050,590.55 | 1,542,087.72 |
| 2.Unemploymentinsurancepremium | 314,709.56 | 7,150,418.51 | 7,376,965.04 | 88,163.03 |
| 3.Corporateannuitypayment | ||||
| Total | 10,867,793.79 | 173,190,012.55 | 182,427,555.59 | 1,630,250.75 |
Othernotes:
□Applicable√Non-applicable
40.Taxespayable
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Balanceattheendoftheperiod | Balanceatthebeginningoftheperiod | ||
| VAT | 54,603,894.75 | 52,358,919.15 | ||
| EnterpriseIncomeTax | 162,296,678.14 | 128,229,994.26 | ||
| Individualincometax | 4,853,990.51 | 3,088,818.10 | ||
| UrbanMaintenanceandConstructionTax | 3,162,976.79 | 3,514,290.88 | ||
| Educationsurcharges | 1,530,310.87 | 1,679,260.68 | ||
| Localeducationsurcharges | 1,019,692.82 | 1,118,994.07 | ||
| Propertytax | 43,349,988.87 | 34,568,143.81 | ||
| Landusetax | 20,913,930.81 | 21,857,255.01 | ||
| Environmentalprotectiontax | 11,024.71 | 777.38 | ||
| Disabledsecurityfund | 23,464,018.13 | 17,783,858.89 | ||
| Specialfundsforwaterconservancyconstruction | 126,478.48 | 80,953.70 | ||
| Stampduty | 9,892,081.00 | 6,875,496.68 | ||
| Other | 18,312.31 | |||
| Total | 325,243,378.19 | 271,156,762.61 | ||
41..Otherpayables
(1).Presentationofitems
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Balanceattheendoftheperiod | Balanceatthebeginningoftheperiod |
| InterestPayable | 2,342,465.75 | |
| DividendsPayable | ||
| Otherpayables | 22,158,931.54 | 24,690,743.41 |
| Total | 22,158,931.54 | 24,690,743.41 |
OtherNotes:
□Applicable√Non-applicable
(2).InterestpayablePresentationbycategory
□Applicable√Non-applicableSignificantinformationaboutoverduebutunpaidinterest:
□Applicable√Non-applicableOtherNotes:
□Applicable√Non-applicable
(3).DividendspayablePresentationbycategory
□Applicable√Non-applicable
(4).OtherpayablesOtherpayablespresentedbynatureoffunds
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Balanceattheendoftheperiod | Balanceatthebeginningoftheperiod |
| Interestpayable | ||
| Dividendpayable | ||
| Securitydeposits | 13,546,312.54 | 16,792,416.42 |
| Others | 8,612,619.00 | 7,898,326.99 |
| Total | 22,158,931.54 | 24,690,743.41 |
Significantotherpayablesagedover1yearoroverdue
□Applicable√Non-applicableOthernotes:
□Applicable√Non-applicable
42.Held-for-saleliabilities
□Applicable√Non-applicable
43.Non-currentliabilitiesduewithin1year
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Balanceattheendoftheperiod | Balanceatthebeginningoftheperiod |
| Long-termloansduewithin1year | 1,915,643,832.71 | 1,239,252,506.51 |
| Bondspayableduewithin1year | 7,053,301.72 | 4,684,254.27 |
| Long-termpayablesduewithin1year | ||
| Leaseliabilitiesduewithin1year | 82,267,257.01 | 46,283,264.41 |
| Total | 2,004,964,391.44 | 1,290,220,025.19 |
44.OthercurrentliabilitiesParticularsonothercurrentliabilities
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Balanceattheendoftheperiod | Balanceatthebeginningoftheperiod |
| Short-termbondspayable | ||
| Returnpaymentpayable | ||
| OutputVATtobetransferred | 1,540,946.15 | 1,690,671.66 |
| Total | 1,540,946.15 | 1,690,671.66 |
Changesinshort-termbondspayable:
□Applicable√Non-applicableOtherNotes:
□Applicable√Non-applicable
45.Long-termloans
(1).Categoryoflong-termloans
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Balanceattheendoftheperiod | Balanceatthebeginningoftheperiod |
| Pledgeloans | ||
| Mortgageloans | 1,498,000,000.00 | 1,539,000,000.00 |
| Guaranteedloans | ||
| Creditloans | 1,864,670,673.86 | 2,203,206,364.26 |
| Outstandinginterestpayable | 1,844,548.67 | 3,170,099.51 |
| Less:Long-termloansduewithinoneyear | 1,915,643,832.71 | 1,239,252,506.51 |
| Total | 1,448,871,389.82 | 2,506,123,957.26 |
Othernotes:
□Applicable√Non-applicable
46.Bondspayable
(1).Bondspayable
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Balanceattheendoftheperiod | Balanceatthebeginningoftheperiod |
| Convertiblecorporatebonds | 2,520,527,790.34 | 2,441,013,483.64 |
| Less:Bondspayableduewithinoneyear | 7,053,301.72 | 4,684,254.27 |
| Total | 2,513,474,488.62 | 2,436,329,229.37 |
(2).Changesinbondspayable:(otherthanpreferredstocks,perpetualbondsandotherfinancialinstrumentsclassifiedasfinancialliabilities)
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Bondname | Facevalue(yuan) | Statedinterestrate（%） | Issuedate | Bondduration | Issueprice | Openingbalance | Currentissues | Interestaccruedatparvalue | Amortizedatpremium/discountprice | Currentrepayment | Curentconvertedshares | Closingbalance | Defaultornot |
| TuopuConvertibleBond | 100.00 | Note | 2022/7/14 | 6years | 2,500,000,000.00 | 2,441,013,483.64 | 12,368,619.41 | 77,176,259.25 | 9,999,571.96 | 31,000.00 | 2,520,527,790.34 | No | |
| Less:Bondspayableduewithinoneyear | 4,684,254.27 | 12,368,619.41 | 9,999,571.96 | 7,053,301.72 | No | ||||||||
| Total | / | / | / | / | 2,500,000,000.00 | 2,436,329,229.37 | 77,176,259.25 | 31,000.00 | 2,513,474,488.62 | / |
PleasebeinformedthatthestatedinterestratesfortheCompany'spublicofferingofconvertiblebondsareasfollows:0.2%inthefirstyear,0.4%inthesecondyear,0.6%inthethirdyear,1.5%inthefourthyear,1.8%inthefifthyear,and2.0%inthesixthyear.Aftertheconvertiblebondsexpire,theCompanywillredeemallunconvertedbondsfrominvestorswithinfivetradingdaysatapriceof110%ofthebonds'parvalue,includingthelastannualinterest.
Notetothebondspayable:thepublicofferingofconvertiblecorporatebondsbytheCompanywasapprovedduringtheFourteenthMeetingoftheFourthSessionoftheBoardofDirectorsheldonNovember18,2021,andtheSecondExtraordinaryShareholders'GeneralMeetingof2021heldonDecember6,2021.OnApril29,2022,theChinaSecuritiesRegulatoryCommission(CSRC)grantedthe"ApprovalofthePublicOfferingofConvertibleCorporateBondsbyNingboTuopuGroupCompanyLimited"(CSRCLicense[2022]No.830).ThisapprovalallowstheCompanytoissueconvertiblecorporatebondswithatotalnominalvalueofRMB2.5billiontothepublicforatermof6years.
(3).Notetoconvertiblecorporatebond
√Applicable□Non-applicable
| Item | Conditionforconversionofshares | Dateofconversionofshares |
| TuopuConvertibleBond | Inaccordancewiththerelevantprovisionsstatedinthe“ProspectusforPublicOfferingofConvertibleBondsofNingboTuopuGroupCo.,Ltd”,the"TuopuConvertibleBonds"havebeeneligibleforconversionintosharesoftheCompanysinceJanuary20,2023.TheinitialconversionpriceoftheCompanywassetatRMB71.38pershare.However,asperthe"AnnouncementofNingboTuopuGroupCo.,Ltd.onAdjustmentofConversionPriceofConvertibleBondsduetoProfitDistributionfortheYearof2022"issuedonJuly10,2023,theconversionpricewasrevisedtoRMB70.92pershare.TheadjustmentcameintoeffectonJuly17,2023. | AsofDecember31,2024,atotalof3,803shareswereobtainedthroughtheconversionof"TuopuConvertibleBonds."Specifically,fromJanuary20,2023,toDecember31,2023,atotalof2,280"TuopuConvertibleBonds"wereconvertedinto3,201shares;fromJanuary1,2024toDecember31,2024,atotalof310"TuopuConvertibleBonds"wereconvertedinto602shares. |
Accountingtreatmentandjudgmentalbasisfortransferofequity
□Applicable√Notapplicable
(4).NotestootherfinancialinstrumentsclassifiedasfinancialliabilitiesGeneralparticularsofotherfinancialinstrumentssuchaspreferredstocksandperpetualbondsissuedattheendoftheperiod
□Applicable√Non-applicableChangesinfinancialinstrumentssuchaspreferredstocksandperpetualbondsissuedattheendoftheperiod
□Applicable√Non-applicableNotestothebasisforclassificationofotherfinancialinstrumentsasfinancialliabilities:
□Applicable√Non-applicableOthernotes:
□Applicable√Non-applicable
47.Leaseliabilities
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Balanceattheendoftheperiod | Balanceatthebeginningoftheperiod |
| Leaseliabilities | 568,321,864.64 | 344,361,800.01 |
| Less:Leaseliabilitiesduewithinoneyear | 82,267,257.01 | 46,283,264.40 |
| Total | 486,054,607.63 | 298,078,535.61 |
48.Long-termpayablesPresentationofitems
□Applicable√Non-applicableOtherNotes:
□Applicable√Non-applicableLong-termpayables
(1).Long-termpayablespresentedbythenatureofpayments
□Applicable√Non-applicable
Specialpayables
(2).Specialpayablespresentedbythenatureofpayments
□Applicable√Non-applicable
49.Long-termpayrollpayable
□Applicable√Non-applicable
(1)Longtermpayableemployeecompensationtable
□Applicable√Notapplicable
(2)ChangesinthedefinedbenefitplanSetthepresentvalueofbenefitplanobligations:
□Applicable√NotapplicablePlannedassets:
□Applicable√NotapplicableNetliabilities(netassets)ofthedefinedbenefitplan
□Applicable√NotapplicableExplanationofthecontentofthebenefitplananditsrelatedrisks,aswellastheimpactonthecompany'sfuturecashflows,timing,anduncertainty:
□Applicable√NotapplicableExplanationofMajorActuarialAssumptionsandSensitivityAnalysisResultsforSettingBenefitPlans
□Applicable√NotapplicableOthernotes:
□Applicable√Notapplicable
50.Estimatedliabilities
□Applicable√Non-applicable
51.DeferredincomeDeferredincome
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Balanceatthebeginningoftheperiod | Increasedintheperiod | Decreasedintheperiod | Balanceattheendoftheperiod | Reason |
| Governmentgrants | 424,223,057.18 | 29,291,721.00 | 45,493,777.47 | 408,021,000.71 | |
| Total | 424,223,057.18 | 29,291,721.00 | 45,493,777.47 | 408,021,000.71 | / |
Othernotes:
□Applicable√Non-applicable
52.Othernon-currentliabilities
□Applicable√Non-applicable
53.Equity
□Applicable√Non-applicable
Unit:YuanCurrency:RMB
| Balanceatthebeginningoftheperiod | Increasedordecreasedamountinthisperiod(+/-) | Balanceattheendoftheperiod | |||||
| Newissue | Bonusissue | Sharesconvertedfromcapitalreserves | Others | Subtotal | |||
| Totalshares | 1,102,049,773.00 | 60,726,104.00 | 523,249,176.00 | 602.00 | 583,975,882.00 | 1,686,025,655.00 | |
Othernotes:
1.Accordingtotheresolutionsofthe27thmeetingofthe4thboardofdirectorsheldonDecember9,2022,the3rdextraordinarygeneralmeetingofshareholdersheldonDecember28,2022,the28thmeetingofthe4thboardofdirectorsheldonFebruary22,2023,the1stextraordinarygeneralmeetingofshareholdersheldonMarch13,2023,the3rdmeetingofthe5thboardofdirectorsheldonDecember8,2023,the3rdextraordinarygeneralmeetingofshareholdersheldonDecember27,2023,andtheamendedarticlesofassociation,andwiththeapprovaloftheChinaSecuritiesRegulatoryCommission'sSecuritiesRegulatoryCommission'sSecuritiesRegulatoryLicense[2023]No.1443onapprovingNingboTuopuGroupCo.,Ltd.Theapprovaloftheregistrationfortheissuanceofsharesbyalimitedcompanytospecifictargetshasbeengranted.InJanuary2024,ourcompanywillissue60,726,104RMBordinarysharestospecifictargets,Thefacevaluepershareis1yuan,andafterthecompletionofthisissuance,theregisteredcapital(sharecapital)willbeincreasedbyRMB60,726,104.00.
2.Accordingtotheprofitdistributionplanfortheyear2023approvedatthe8thmeetingofthe5thBoardofDirectorsheldonApril22,2024,andthe2023Shareholders'MeetingheldonJune24,2024,thecompanywilldistributeacashdividendofRMB5.56(includingtax)per10sharestoallshareholdersregisteredontheequityregistrationdate,basedonthenumberofsharesregisteredontheimplementationofequitydistribution.Atthesametime,thecapitalreservewillbeconvertedintosharecapital,with4.5sharesper10shares,foratotalof523,249,176shares.Afterthecompletionofthisconversion,theregisteredcapital(sharecapital)willbeincreasedbyRMB523,249,176.00.
3.FromJanuary1,2024toDecember31,2024,thecompanyconverted602sharesof"TuopuConvertibleBonds",increasingtheregisteredcapital(sharecapital)byRMB602.00.
54.Otherequityinstruments
(1).Basicinformationofotherfinancialinstrumentssuchaspreferredstocksandperpetualbondsissuedattheendoftheperiod
□Applicable√Non-applicable
(2).Changesinfinancialinstrumentssuchaspreferredstocksandperpetualbondsissuedattheendoftheperiod
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
Othernotes:
□Applicable√Non-applicableDuringtheperiod,atotalof310"TuopuConvertibleBonds"wereconvertedinto602shares,andtheequityvalueoftheCompany'sconvertiblebondswasreducedbyRMB1,775.83.
| Outstandingfinancialinstruments | Asattheendoflastyear | Increaseinthisperiod | Decreaseinthisperiod | Asattheendofthisperiod | ||||
| Quantity | Bookvalue | Quantity | Bookvalue | Quantity | Bookvalue | Quantity | Bookvalue | |
| Equityvalueofconvertiblebonds | 24,997,720 | 143,201,172.16 | 310 | 1,775.83 | 24,997,410 | 143,199,396.33 | ||
| Total | 24,997,720 | 143,201,172.16 | 310 | 1,775.83 | 24,997,410 | 143,199,396.33 | ||
55.Capitalreserve
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Balanceatthebeginningoftheperiod | Increasedintheperiod | Decreasedintheperiod | Balanceattheendoftheperiod |
| Capitalpremium(equitypremium) | 5,341,019,192.64 | 3,437,743,828.46 | 523,249,176.00 | 8,255,513,845.10 |
| Othercapitalreserves | 10,348.78 | 10,348.78 | ||
| Total | 5,341,029,541.42 | 3,437,743,828.46 | 523,249,176.00 | 8,255,524,193.88 |
Othernotes,includingthechangesduringtheperiodandthereasonsforsuchchanges:
1.InJanuary2024,theCompanyprivatelyissued60,726,104RMBordinaryshares(Ashares)tospecificsubjectsatapriceofRMB57.88pershare,generatinggrossproceedsofRMB3,514,826,899.52.Afterdeductingnon-taxablesponsorshipandunderwritingfeesamountingtoRMB14,921,434.95,alongwithothernon-taxableissuancecostsdirectlyassociatedwiththeequitysecuritiesissuancetotalingRMB1,467,666.14,thenetproceedswillamounttoRMB3,498,437,798.43.Ofthistotal,RMB60,726,104.00willbeallocatedtoregisteredcapital(sharecapital),whileRMB3,437,711,694.43willbeassignedtocapitalpremium.
2、FromJanuary1,2024toDecember31,2024,theCompanyconverted602sharesofTuopuConvertibleBonds,increasingtheCompany'sregisteredcapital(sharecapital)byRMB3,201.00andcapitalsurplusbyRMB602.00.TheCompanyhasalsoincreaseditscapitalsurplusbyRMB32,134.03,whichisthesameasthatofTuopuConvertibleBonds.
3.Accordingtotheprofitdistributionplanfortheyear2023,whichwasapprovedduringtheEighthMeetingoftheFifthSessionoftheBoardofDirectorson22April2024andattheAnnualGeneralMeetingofShareholderson24June2024,theCompanywilldistributeacashdividendofRMB5.56pershareforevery10sharestoallshareholderslistedontheshareholdingregisterasoftheregistrationdatefortheequitydistribution.Thisdistributionwillbebasedonthenumberofsharesregisteredonthatdate(includingtax).Additionally,theCompanywillincreaseitssharecapitalby4.5sharesforevery10sharesthroughthecapitalizationofcapitalsurplus,resultinginatotalof523,249,176sharesandacorrespondingreductionincapitalsurplusbyRMB523,249,176.00.
56.Treasurybonds
□Applicable√Non-applicable
57.Othercomprehensiveincome
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Balanceatthebeginningoftheperiod | Amountincurredinthecurrentperiod | Balanceattheendoftheperiod | |||||
| Amountincurredbeforeincometaxinthecurrentperiod | Less:recordedintoothercomprehensiveincomesinpreviousperiodandtransferredtoP/Lincurrentperiod | Less:Recordedintoothercomprehensiveincomesinpreviousperiodandtransferredtoretainedincomeincurrentperiod | Less:IncomeTaxExpense | AttributabletotheCompanyaftertax | Attributabletotheminorityshareholdersaftertax | |||
| 1.Othercomprehensiveincomethatcannotbereclassifiedintoprofitandloss | ||||||||
| Including:re-measurementofchangesindefinedbenefitplans | ||||||||
| Othercomprehensiveincomethatcannotbetransferredtoprofitandlossundertheequitymethod | ||||||||
| Changesinthefairvalueofother | ||||||||
| equityinstrumentinvestments | ||||||
| Changesinfairvalueoftheenterprise'sowncreditrisk | ||||||
| 2.Othercomprehensiveincomethatwillbereclassifiedintoprofitandloss | -7,279,431.39 | -86,701,368.66 | -86,686,965.61 | -14,403.05 | -93,966,397.00 | |
| Including:othercomprehensiveincomethatcanbetransferredtoprofitorlossundertheequitymethod | ||||||
| Changesinthefairvalueofotherdebtinvestments | ||||||
| Amountoffinancialassetsreclassifiedandincludedinothercomprehensiveincome | ||||||
| Provisionforimpairme |
| ntofotherdebtinvestment | ||||||
| Cashflowhedgereserves | ||||||
| Translationdifferenceofforeigncurrencyfinancialstatements | -7,279,431.39 | -86,701,368.66 | -86,686,965.61 | -14,403.05 | -93,966,397.00 | |
| Total | -7,279,431.39 | -86,701,368.66 | -86,686,965.61 | -14,403.05 | -93,966,397.00 |
58.Specialreserves
□Applicable√Non-applicable
59.Surplusreserves
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Balanceatthebeginningoftheperiod | Increasedinthecurrentperiod | Decreasedinthecurrentperiod | Balanceattheendoftheperiod |
| Statutorysurplusreserve | 706,943,994.98 | 115,105,464.14 | 822,049,459.12 | |
| Discretionarysurplusreserve | ||||
| Reservefund | ||||
| Businessdevelopmentfund | ||||
| Others | ||||
| Total | 706,943,994.98 | 115,105,464.14 | 822,049,459.12 |
Notestothesurplusreserve,includingthechangesinthecurrentperiodandthereasonforsuchchanges:
ThestatutorysurplusreserveatRMB115,105,464.14shallbewithdrawnat10%oftheparentcompany'snetprofitin2024.
60.Undistributedprofit
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Currentperiod | Previousperiod |
| UndistributedProfitbeforeAdjustmentattheEndofPreviousPeriod | 6,498,434,550.76 | 4,933,499,753.42 |
| Adjustthetotalundistributedprofitsatthestartoftheperiod(increase+,decrease-) | ||
| UndistributedProfitafterAdjustmentattheStartofthePeriod | 6,498,434,550.76 | 4,933,499,753.42 |
| Add:netprofitattributabletoparentcompany'sownerincurrentperiod | 3,000,605,982.24 | 2,150,642,258.47 |
| Less:withdrawalofstatutorysurplusreserve | 115,105,464.14 | 75,459,088.04 |
| Withdrawalofdiscretionarysurplusreserve | ||
| Withdrawalofgeneralriskreserve | ||
| Ordinarystockdividendpayable | 646,503,426.53 | 510,248,373.09 |
| Ordinarystockdividendsconvertedintoequity | ||
| Undistributedprofitattheendoftheperiod | 8,737,431,642.33 | 6,498,434,550.76 |
Adjusttheparticularsofundistributedprofitatthebeginningoftheperiod:
1.Duetotheretrospectiveadjustmentsmadeinaccordancewiththe“AccountingStandardsforBusinessEnterprises"anditsrelatednewregulations,theunappropriatedprofitatthebeginningoftheperiodwasaffectedbyRMB0.
2.TheimpactofchangesinaccountingpoliciesonundistributedprofitatthebeginningoftheperiodisRMB0.
3.TheimpactofthecorrectionofmajoraccountingerrorsonundistributedprofitatthebeginningoftheperiodisRMB0.
4.TheimpactofchangeinthescopeofbusinesscombinationasaresultofthesamecontrolonundistributedprofitatthebeginningoftheperiodisRMB0.
5.ThegrossimpactofotheradjustmentsontheundistributedprofitatthebeginningoftheperiodisRMB0.
61.Operatingincomeandoperatingcost
(1).Particularsonoperatingincomeandoperatingcost
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinpreviousperiod | ||
| Income | Cost | Income | Cost | |
| Mainoperation | 25,011,816,206.41 | 20,153,411,036.89 | 18,728,035,198.12 | 14,642,360,077.57 |
| Otheroperations | 1,588,512,244.53 | 913,335,097.55 | 972,525,231.88 | 546,999,634.45 |
| Total | 26,600,328,450.94 | 21,066,746,134.44 | 19,700,560,430.00 | 15,189,359,712.02 |
(2).Informationaboutthebreakdownofoperatingincomeandcost
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Categoryofcontracts | Total | |
| Operatingincome | Operatingcost | |
| Producttypes | ||
| VibrationControlSystem | 4,402,383,937.42 | 3,473,522,334.82 |
| Interior&ExteriorSystem | 8,433,566,585.15 | 6,905,404,319.92 |
| ChassisSystem | 8,202,682,256.25 | 6,527,694,539.52 |
| MechatronicSystem | 1,820,105,263.90 | 1,466,640,821.65 |
| ThermalManagementSystem | 2,139,650,790.86 | 1,773,556,540.54 |
| ElectricDriveSystem | 13,427,372.83 | 6,592,480.44 |
| Total | 25,011,816,206.41 | 20,153,411,036.89 |
| Byoperationareas | ||
| Domesticsales | 18,797,274,855.33 | 15,307,933,145.45 |
| Overseassales | 6,214,541,351.08 | 4,845,477,891.44 |
| Total | 25,011,816,206.41 | 20,153,411,036.89 |
| Bytimeoftransferofproducts | ||
| Confirmedatacertaintimepoint | 25,011,816,206.41 | 20,153,411,036.89 |
| Confirmedatacertaintimepoint | ||
| Total | 25,011,816,206.41 | 20,153,411,036.89 |
Othernotes
□Applicable√Non-applicable
(3).Notetoperformanceobligations
□Applicable√Non-applicable
(4).Notetoallocationtoremainingperformance
□Applicable√Non-applicable
(5).Notetosignificantcontractchangesorsignificanttransactionprice
□Applicable√Non-applicable
62.Taxesandsurcharges
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinpreviousperiod |
| Consumptiontax | 40,035,128.88 | 33,674,216.50 |
| EducationSurcharges | 18,973,787.01 | 15,951,422.42 |
| Localeducationsurcharges | 12,651,697.67 | 10,614,181.48 |
| Propertytax | 52,938,681.92 | 39,520,270.52 |
| Landusetax | 25,442,027.53 | 25,532,242.93 |
| Vehicleandvesselusetax | 20,188.71 | 19,285.16 |
| Stampduty | 32,662,611.18 | 22,729,272.65 |
| Environmentalprotectiontax | 175,531.58 | 7,914.54 |
| Others | 396,730.28 | 75,010.72 |
| Total | 183,296,384.76 | 148,123,816.92 |
63.Salesexpense
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinpreviousperiod |
| Serviceexpense | 117,665,324.57 | 122,533,968.05 |
| Payroll | 70,175,382.50 | 55,699,998.09 |
| Businesshospitalityexpense | 61,650,189.38 | 41,870,231.40 |
| Travelexpense | 6,962,753.51 | 5,328,604.99 |
| Packagingfee | 1,142,043.94 | 210,649.13 |
| Vehiclecost | 2,677,853.02 | 2,456,824.51 |
| Exhibitionfee | 1,162,366.34 | 752,868.44 |
| Others | 12,603,916.99 | 3,729,680.56 |
| Total | 274,039,830.25 | 232,582,825.17 |
64.Overheadexpense
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinpreviousperiod |
| Payroll | 343,171,624.61 | 310,681,254.28 |
| Depreciationexpense | 70,964,113.51 | 42,089,545.63 |
| Businesshospitalityexpense | 9,609,407.30 | 8,526,971.38 |
| Vehiclecost | 6,989,114.85 | 5,991,706.83 |
| Travelexpenses | 16,674,123.46 | 9,468,340.36 |
| Amortizationofintangibleassets | 29,982,743.41 | 29,190,411.33 |
| Officeexpenses | 13,294,611.46 | 9,517,734.62 |
| Insurancepremiums | 10,460,215.53 | 10,000,339.47 |
| Intermediaryfee | 5,013,429.55 | 5,512,275.13 |
| Utilitybills | 9,512,494.54 | 10,458,759.15 |
| Servicecharge | 26,090,865.71 | 26,593,680.37 |
| Rent | 3,756,065.90 | 2,353,157.71 |
| Employmentguaranteefundforpersonswithdisabilities | 23,789,159.60 | 27,513,010.27 |
| Others | 51,559,968.95 | 45,823,554.51 |
| Total | 620,867,938.38 | 543,720,741.04 |
65.R&Dexpense
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinpreviousperiod |
| Materialexpense | 394,491,614.87 | 338,641,778.29 |
| Payroll | 565,836,978.84 | 437,826,195.71 |
| Depreciationandamortization | 122,752,314.23 | 92,867,868.03 |
| Transportationandstoragefee | 10,500,639.66 | 9,249,204.84 |
| Energyconsumptionfee | 50,960,887.77 | 44,992,055.69 |
| Travelexpense | 20,954,808.76 | 14,468,560.48 |
| Trialproductionexpense | 19,531,197.37 | 14,588,042.57 |
| Others | 39,214,101.96 | 33,769,299.78 |
| Total | 1,224,242,543.46 | 986,403,005.39 |
66.Financialexpense
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinpreviousperiod |
| Interestexpense | 237,972,888.20 | 228,089,328.18 |
| Ofwhich:Interestexpenseonleaseliabilities | 18,713,411.80 | 5,206,628.14 |
| Less:Interestincome | 48,350,722.43 | 46,324,974.29 |
| Gainandlossfromexchange | -29,540,567.70 | -100,387,968.50 |
| Handlingcharge | 5,602,530.91 | 4,372,151.62 |
| Total | 165,684,128.98 | 85,748,537.01 |
67.Otherincome
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinpreviousperiod |
| GovernmentSubsidies | 275,800,172.93 | 154,398,450.86 |
| Handlingfeeforwithholdingpersonalincometax | 922,364.88 | 511,517.31 |
| VATinputtaxcredit | 116,190,188.94 | 58,810,611.95 |
| DirectVATcreditforemploymentofkeypersons | 14,947,500.04 | 5,558,150.00 |
| Total | 407,860,226.79 | 219,278,730.12 |
68.Investmentincome
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinpreviousperiod |
| Long-termequityinvestmentincome | 45,857,248.62 | -2,063,278.75 |
| calculatedbytheequitymethod | ||
| Investmentincomefromdisposaloflong-termequityinvestments | ||
| Investmentincomeoftradingfinancialassetsduringtheholdingperiod | ||
| Dividendincomefromotherequityinstrumentinvestmentsduringtheholdingperiod | ||
| Interestincomefromdebtinvestmentduringtheholdingperiod | ||
| Interestincomefromotherdebtinvestmentsduringtheholdingperiod | ||
| Investmentincomefromdisposaloftradingfinancialassets | 66,088.98 | |
| Investmentincomefromthedisposalofotherequityinstrumentinvestments | ||
| Investmentincomefromdisposalofdebtinvestment | ||
| Investmentincomefromthedisposalofotherdebtinvestments | ||
| Incomefromdebtrestructuring | ||
| Investmentincomefromfinancialmanagementproducts | 38,441,251.62 | 6,032,297.53 |
| Total | 84,364,589.22 | 3,969,018.78 |
69.Netexposurehedgingincome
□Applicable√Non-applicable
70.Gainsfromchangesinfairvalue
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Sourcesofincomefromchangesinfairvalue | Amountincurredinthecurrentperiod | Amountincurredinpreviousperiod |
| Transactionalfinancialassets | 1,018,222.92 | -82,821.96 |
| Including:incomefromchangesinfairvaluegeneratedbyderivativefinancialinstruments | ||
| Transactionalfinancialliabilities | ||
| Investmentrealestatemeasuredatfairvalue | ||
| Total | 1,018,222.92 | -82,821.96 |
71.Creditimpairmentloss
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinpreviousperiod |
| Baddebtlossonaccountsreceivable | -1,710,245.64 | 1,693,613.22 |
| Baddebtlossonaccountsreceivable | 78,269,996.90 | 194,247,380.83 |
| Baddebtlossonotherreceivables | 3,425,950.46 | 1,916,219.58 |
| Impairmentlossofdebtinvestment | ||
| Impairmentlossofotherdebtinvestment | ||
| Baddebtlossoflong-termreceivables | ||
| Impairmentlossofcontractassets | ||
| Impairmentlossonreceivablesfinancing | -208,778.83 | -1,166,149.25 |
| Total | 79,776,922.89 | 196,691,064.38 |
72.Assetimpairmentloss
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinpreviousperiod |
| 1.Lossofbaddebts | ||
| 2.Lossofinventoryfallingpriceandlossofcontractperformancecostimpairment | 58,258,608.19 | 65,402,276.74 |
| 3.Long-termequityinvestmentimpairmentlosses | ||
| 4.Impairmentlossofinvestmentrealestate | ||
| 5.Impairmentlossoffixedassets | ||
| 6.Impairmentlossofconstructionmaterials | ||
| 7.Impairmentlossofconstructioninprogress | ||
| 8.Impairmentlossofproductivebiologicalassets | ||
| 9.Impairmentlossesofoilandgasassets | ||
| 10.Intangibleassetsimpairmentloss | ||
| 11.Goodwillimpairmentloss | 1,080,371.29 | 6,058,537.77 |
| 12.Others | ||
| Total | 59,338,979.48 | 71,460,814.51 |
73.Incomefromdisposalofassets
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinpreviousperiod |
| Incomefromdisposalofassets | 389,596.49 | 6,635,932.50 |
| Total | 389,596.49 | 6,635,932.50 |
74.Non-operatingincomeParticularsaboutnon-operatingincome
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinpreviousperiod | Amountincludedinthecurrentnon-recurringprofitandloss |
| Totalgainsfromdisposalofnon-currentassets | 723,345.87 | 338,485.87 | 723,345.87 |
| Including:gainsfromdisposaloffixedassets | 723,345.87 | 338,485.87 | 723,345.87 |
| Gainsfromdisposalofintangibleassets | |||
| Gainsfromnon-monetaryassetexchange | |||
| Capitalfromdonation | |||
| Governmentgrants | |||
| Compensationincome | 1,751,178.15 | 2,443,361.20 | 1,751,178.15 |
| Proceedsfromacquisitionofsubsidiaries | 21,901,496.20 | 21,901,496.20 | |
| Other | 2,076,388.94 | 1,321,088.66 | 2,076,388.94 |
| Total | 26,452,409.16 | 4,102,935.73 | 26,452,409.16 |
75.Non-operatingexpenses
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinpreviousperiod | Amountincludedinthecurrentnon-recurringprofitandloss |
| Totallossfromdisposalofnon-currentassets | 20,973,401.08 | 15,170,562.74 | 20,973,401.08 |
| Including:Lossondisposaloffixedassets | 20,973,401.08 | 15,170,562.74 | 20,973,401.08 |
| Lossondisposalofintangibleassets | |||
| Lossfromexchangeofnon-monetaryassets | |||
| Externaldonation | 340,000.00 | 1,300,000.00 | 340,000.00 |
| Specialfundsforwaterconservancyconstruction | 1,056,468.79 | 687,538.30 | |
| Lossfromdebtrestructuring | 2,791,321.15 | 925,883.37 | 2,791,321.15 |
| Others | 25,161,191.02 | 18,083,984.41 | 24,104,722.23 |
76.Incometaxexpense
(1).Scheduleofincometaxexpense
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinpreviousperiod |
| Incometaxexpenseinthecurrentperiod | 455,634,426.27 | 368,716,865.91 |
| Deferredincometaxexpense | -38,061,590.70 | -56,443,347.35 |
| Total | 417,572,835.57 | 312,273,518.56 |
(2).Adjustmentprocessofaccountingprofitandincometaxexpense
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Amountincurredinthecurrentperiod |
| Totalprofits | 3,421,259,441.86 |
| Incometaxexpensecalculatedatthestatutory/applicabletaxrate | 513,188,916.28 |
| Impactofdifferenttaxratesappliedtosubsidiaries | 29,744,991.59 |
| Adjustedimpactofincometaxinpriorperiods | 9,552,413.88 |
| Impactofnon-taxableincome | -6,878,587.29 |
| Impactofnon-deductiblecosts,expensesandlosses | 24,927,921.02 |
| Impactofusingdeductiblelossesofdeferredincometaxassetsthathavenotbeenrecognizedinthepreviousperiod | -28,660,993.87 |
| Impactofdeductibletemporarydifferencesordeductiblelossesonunrecognizeddeferredincometaxassetsinthecurrentperiod | 51,041,348.88 |
| Changesindeferredtaxassets/liabilitiesatthebeginningoftheperiodduetotaxrateadjustments | 7,569,994.30 |
| Impactofincometaxcreditbenefits | -14,438,230.09 |
| Impactofadditionaltaxdeductionsforenterpriseresearchanddevelopment | -168,437,480.47 |
| Impactofequipmentone-timededuction | -37,458.66 |
| Incometaxexpense | 417,572,835.57 |
OtherNotes:
□Applicable√Non-applicable
77.Othercomprehensiveincome
√Applicable□Non-applicableDetailsareavailablein“NoteVII.57.Othercomprehensiveincome”
78.Cashflowstatementitems
(1).OthercashreceivedrelatedtooperatingactivitiesOthercashreceivedrelatedtooperatingactivities
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Amountincurredinthe | Amountincurredinprevious |
| currentperiod | period | |
| Receiptoftemporaryloans | 7,759,521.08 | 54,539,013.01 |
| Interestincome | 48,350,722.43 | 46,324,974.29 |
| Governmentgrants | 259,598,116.46 | 211,467,742.60 |
| Incomefromcompensationandfines | 275,972.94 | 1,537,317.97 |
| Others | 4,341,865.19 | 2,426,444.35 |
| Total | 320,326,198.10 | 316,295,492.22 |
Othercashpaidrelatedtooperatingactivities
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinpreviousperiod |
| Paymentoftemporaryloans | 43,002,132.94 | 49,196,820.10 |
| Businesshospitalityexpense | 71,446,895.29 | 50,397,202.78 |
| R&Dspending | 534,917,401.33 | 453,253,590.22 |
| Travelexpense | 27,580,664.26 | 14,796,945.35 |
| Insurancepremium | 10,295,711.60 | 9,845,564.79 |
| Officeexpense | 13,862,147.37 | 9,716,706.76 |
| Vehicleexpense | 10,348,136.60 | 8,448,531.34 |
| Servicecharge | 143,744,107.38 | 149,127,648.42 |
| Intermediaryfee | 5,013,429.55 | 5,512,275.13 |
| Packagingfee | 1,142,043.94 | 210,649.13 |
| Utilitybill | 17,939,687.26 | 10,458,759.15 |
| Rent | 6,489,425.99 | 2,650,354.01 |
| Employmentguaranteefundforpersonswithdisabilities | 23,789,159.60 | 27,441,660.24 |
| Others | 43,225,571.52 | 30,489,053.56 |
| Total | 952,796,514.63 | 821,545,760.98 |
(2).OthercashreceivedrelatedtoinvestmentactivitiesCashreceivedrelatedtoimportantinvestingactivities
□Applicable√Non-applicableCashpaidrelatedtoimportantinvestmentactivities
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinpreviousperiod |
| Cashpaidforacquisitionofproperty,plantandequipment,intangibleassetsandotherlong-termassets | 3,145,862,082.45 | 3,176,917,076.36 |
| Cashpaidforinvestments | 4,495,000,000.00 | 1,310,000,000.00 |
| Total | 7,640,862,082.45 | 4,486,917,076.36 |
Othercashpaidrelatedtoinvestmentactivities
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinpreviousperiod |
| Performancebondrecovered | 25,765,813.00 | 40,915,600.00 |
| Netcashacquiredfromacquisitionofsubsidiaries | 6,330,113.23 | |
| Total | 32,095,926.23 | 40,915,600.00 |
Othercashpaidrelatingtoinvestingactivities
√Applicable□Notapplicable
Unit:YuanCurrency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinpreviousperiod |
| Performancebondpaid | 5,000,000.00 | |
| Total | 5,000,000.00 |
(3).CashrelatingtofinancingactivitiesOthercashreceivedrelatingtofinancingactivities
□Applicable√NotapplicableOthercashpaidinrelationtofinancingactivities
√Applicable□Notapplicable
Unit:YuanCurrency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinpreviousperiod |
| Cashpaidforleaseliabilities | 70,164,761.58 | 43,014,990.85 |
| Repaymentofloansfromfinanceleasingcompanies | 164,399,011.59 | |
| Fractionalshareforconversionofconvertiblebonds | 467.68 | 180.08 |
| Total | 70,165,229.26 | 207,414,182.52 |
Changesinliabilitiesarisingfromfinancingactivities
√Applicable□Notapplicable
Unit:YuanCurrency:RMB
| Item | Balanceatthebeginningoftheperiod | Increaseincurrentperiod | Decreaseincurrentperiod | Balanceattheendoftheperiod | ||
| Cashchanges | Non-cashchanges | Cashchanges | Non-cashchanges | |||
| Short-termloans | 999,798,705.09 | 1,126,000,000.00 | 31,198,511.27 | 1,226,364,399.44 | 930,632,816.92 | |
| Otherpayables-dividendspayable | 646,503,426.53 | 646,503,426.53 | ||||
| Long-termloans(includingthoseduewithinoneyear) | 3,745,376,463.77 | 1,716,500,000.00 | 102,882,790.28 | 2,200,244,031.52 | 3,364,515,222.53 | |
| Bondspayable(includingthoseduewithinoneyear) | 2,441,013,483.64 | 89,544,878.66 | 9,999,571.96 | 31,000.00 | 2,520,527,790.34 | |
| Leaseliabilities(includingthoseduewithinoneyear) | 344,361,800.01 | 294,124,826.20 | 70,164,761.58 | 568,321,864.63 | ||
| Total | 7,530,550,452.51 | 2,842,500,000.00 | 1,164,254,432.94 | 4,153,276,191.03 | 31,000.00 | 7,383,997,694.42 |
(4).Notetocashflowspresentedonanetbasis
□Applicable√Notapplicable
(5).Significantactivitiesandfinancialeffectsthatdonotinvolvecurrentcashreceiptsand
disbursementsbutaffecttheenterprise'sfinancialpositionormayaffecttheenterprise'scashflowsinthefuture
□Applicable√Notapplicable
79.Additionalinformationoncashflowstatement
(1).Additionalinformationoncashflowstatement
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| AdditionalInformation | Amountinthecurrentperiod | Amountinpreviousperiod |
| 1.Reconciliationofnetprofittocashflowsfromoperationalactivities: | ||
| NetProfit | 3,003,686,606.29 | 2,150,016,205.76 |
| Add:provisionforimpairmentofassets | 59,338,979.48 | 71,460,814.51 |
| Creditimpairmentprovision | 79,776,922.89 | 196,691,064.38 |
| Depreciationoffixedassets,oilandgasassets,productivebiologicalassets | 1,477,555,988.17 | 1,104,162,144.79 |
| Depreciationofright-of-useassets | 81,976,097.14 | 38,201,180.13 |
| AmortizationofIntangibleAssets | 45,844,727.40 | 41,484,734.70 |
| Amortizationoflong-termprepaidexpenses | 98,845,741.67 | 79,075,458.06 |
| Lossesondisposaloffixedassets,intangibleassetsandotherlong-termassets(incomeasin“-”) | -389,596.49 | -6,635,932.50 |
| Lossesonscrappingoffixedassets(incomeasin“-”) | 20,250,055.21 | 14,832,076.87 |
| Lossesonfairvaluechanges(incomeasin“-”) | -1,018,222.92 | 82,821.96 |
| Financialexpenses(incomeasin“-”) | 203,512,711.76 | 139,711,286.08 |
| Lossesoninvestment(incomeasin“-”) | -84,364,589.22 | -3,969,018.78 |
| Decreaseondeferredincometaxassets(increaseasin“-”) | -36,887,102.72 | -10,260,340.64 |
| Increaseondeferredincometaxliabilities(decreaseasin“-”) | -1,174,801.37 | -46,185,311.62 |
| Decreaseoninventories(increaseasin“-”) | -813,474,962.07 | -54,383,166.19 |
| Decreaseonoperationalreceivables(increaseasin“-”) | -2,524,244,554.64 | -1,306,230,020.30 |
| Increaseonoperationalpayables(decreaseasin“-”) | 1,626,834,686.26 | 957,575,279.53 |
| Others | ||
| Netcashflowgeneratedbyoperatingactivities | 3,236,068,686.84 | 3,365,629,276.74 |
| 2.Majorinvestingandfinancingactivitiesnotinvolvingcashreceiptsandpayment: | ||
| Conversionofdebtintocapital | ||
| Convertiblecorporatebondsduewithinoneyear | 7,053,301.72 | 4,684,254.27 |
| Fixedassetsunderfinancinglease | 291,880,753.97 | 294,506,856.56 |
| Fixedassetsunderfinanceleases | ||
| 3.Netchangesincashandcashequivalents: | ||
| Closingbalanceofcash | 3,942,266,589.29 | 2,313,937,932.51 |
| Less:openingbalanceofcash | 2,313,937,932.51 | 2,410,212,553.28 |
| Add:closingbalanceofcashequivalents | ||
| Less:openingbalanceofcashequivalents | ||
| Netadditionstobalanceofequivalents | 1,628,328,656.78 | -96,274,620.77 |
(2).Netcashreceiptsfromdisposalofsubsidiariesinthisperiod
□Applicable√Notapplicable
(3).Netcashreceivedfromdisposalofsubsidiariesinthecurrentperiod
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Amount | |
| Cashorcashequivalentspaidduringtheperiodforbusinesscombinationsoccurringduringtheperiod | 19,005,379.52 |
| Ofwhich:NingboBorgersTuopuAutomobilePartsCo.,Ltd. | 19,005,379.52 |
| Less:CashandcashequivalentsheldbytheCompanyonthedateofpurchase | 25,335,492.75 |
| Ofwhich:NingboBorgersTuopuAutomobilePartsCo.,Ltd. | 25,335,492.75 |
| Add:Cashorcashequivalentspaidinthecurrentperiodforbusinesscombinationsoccurringinpriorperiods | |
| Cashorcashequivalentspaidduringtheperiodforbusinesscombinationsoccurringduringtheperiod | 6,330,113.23 |
(4).Compositionofcashandcashequivalents
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Balanceattheendoftheperiod | Balanceatthebeginningoftheperiod |
| 1.Cash | 3,942,266,589.29 | 2,313,937,932.51 |
| Including:cashonhand | 21,590.07 | 18,810.59 |
| Bankdepositsthatcanbeusedforpaymentatanytime | 3,942,244,999.22 | 2,313,919,121.92 |
| Othercurrencyfundsthatcanbeusedforpaymentatanytime | ||
| Depositsinthecentralbankthatcanbeusedforpayment | ||
| DepositsinOtherFinancialInstitutions | ||
| CallloansfromOtherFinancialInstitutions | ||
| 2.Cashequivalents | ||
| Including:bondinvestmentsduewithinthreemonths |
| 3.Balanceofcashandcashequivalentsattheendoftheperiod | 3,942,266,589.29 | 2,313,937,932.51 |
| Including:cashandcashequivalentsthatarerestrictedforusbytheparentcompanyorsubsidiarywithinthegroup |
(5).Conditionofrestrictedscopeofusebutstillpresentedascashandcashequivalents
□Applicable√Notapplicable
(6).Cashandbankbalancesnotclassifiedascashandcashequivalents
√Applicable□Notapplicable
Unit:YuanCurrency:RMB
| Item | Amountincurrentperiod | Amountinpriorperiod | Reason |
| Bankacceptancedeposit | 33,208,844.36 | 535,150,594.14 | Restrictedforuse |
| Exchangesettlementdeposit | 466.96 | 609.89 | Restrictedforuse |
| Guaranteedeposit | 12,289,949.67 | 6,277,854.73 | Restrictedforuse |
| Total | 45,499,260.99 | 541,429,058.76 | / |
Othernotes:
□Applicable√Notapplicable
80.Notestoitemsinthestatementofchangesinowners'equityStatethenameoftheitem“others”adjustingthebalanceattheendofpreviousyearandtheamountofadjustment:
□Applicable√Non-applicable
81.Assetswithrestrictedownershiporuserights
(1).Assetswithrestrictedownershiporuserights
√Applicable□Non-applicable
Unit:yuan
| Item | Foreigncurrencybalanceattheendoftheperiod | Convertedexchangerate | BalanceconvertedtoRMBattheendoftheperiod |
| Cashandbankbalances | 882,529,322.52 | ||
| Including:USD | 21,010,930.18 | 7.1884 | 151,034,970.51 |
| EUR | 23,130,432.61 | 7.5257 | 174,072,696.69 |
| HKD | 3,114,863.62 | 0.9260 | 2,884,363.71 |
| CAD | 13,514,501.38 | 5.0498 | 68,245,529.07 |
| BRL | 10,372,106.94 | 1.1777 | 12,215,230.34 |
| MYR | 8,971,684.91 | 1.6199 | 14,533,232.39 |
| SEK | 1,053,557.29 | 0.6565 | 691,660.36 |
| PLN | 94,442,336.79 | 1.7597 | 166,190,180.05 |
| MXN | 836,653,686.10 | 0.3498 | 292,661,459.40 |
| Accountsreceivable | 1,007,364,164.90 | ||
| Including:USD | 73,733,155.60 | 7.1884 | 530,023,415.72 |
| EUR | 4,627,664.47 | 7.5257 | 34,826,414.50 |
| GBP | 3,931.20 | 9.0765 | 35,681.54 |
| CAD | 30,994,708.18 | 5.0498 | 156,517,077.37 |
| BRL | 12,714,781.40 | 1.1777 | 14,974,198.05 |
| MYR | 7,719,362.44 | 1.6199 | 12,504,595.22 |
| PLN | 105,952,154.29 | 1.7597 | 186,444,005.90 |
| MXN | 205,942,757.58 | 0.3498 | 72,038,776.60 |
| OtherReceivables | 54,291,913.57 | ||
| Including:USD | 3,664,295.22 | 7.1884 | 26,340,419.76 |
| CAD | 394,284.37 | 5.0498 | 1,991,057.21 |
| SEK | 2,809,775.22 | 0.6565 | 1,844,617.43 |
| PLN | 4,713,942.15 | 1.7597 | 8,295,124.00 |
| MXN | 45,227,830.68 | 0.3498 | 15,820,695.17 |
| Accountspayable | 198,076,837.80 | ||
| Including:USD | 10,897,459.15 | 7.1884 | 78,335,295.35 |
| EUR | 1,002,211.33 | 7.5257 | 7,542,341.81 |
| CAD | 12,399,641.38 | 5.0498 | 62,615,709.04 |
| BRL | 998,793.95 | 1.1777 | 1,176,279.63 |
| SEK | 428,119.60 | 0.6565 | 281,060.52 |
| PLN | 8,211,504.08 | 1.7597 | 14,449,783.73 |
| MXN | 96,273,206.74 | 0.3498 | 33,676,367.72 |
| OtherPayables | 749,093.52 | ||
| Including:USD | 27,205.41 | 7.1884 | 195,563.37 |
| MYR | 85,147.75 | 1.6199 | 137,930.84 |
| SEK | 633,053.02 | 0.6565 | 415,599.31 |
(2).Notestooverseasbusinessentities,overseasbusinesslocations,functionalcurrencyandthe
basisforselectioninrespectofimportantoverseasbusinessentitiesshouldbedisclosed;ifthereisachangeinthefunctionalcurrency,thereasonforthechangeshouldbefurtherdisclosed.
√Applicable□Non-applicable
TheCompanyhasninesubsidiariesoutsideofChina,i.e.:TuopuNorthAmericaLimited,currentlyoperatinginCanadaandwithCanadiandollarsasthefunctionalcurrency;TuopuNorthAmericaUSALimited,INC,currentlyoperatingintheUnitedStatesandwithU.S.dollarsasthefunctionalcurrency;TUOPUDOBRASIL,currentlyoperatinginBrasilandwithBrazilianRealasthefunctionalcurrency;TuopuSweden,currentlyoperatinginSwedenandwithSwedishkronaasthefunctionalcurrency;TuopuInternational,currentlyoperatinginHongKongandwithHongKongdollarasthefunctionalcurrency;TUOPU(MALAYSIA)SDN.BHD.,currentlyoperatinginMalaysiaandwithRinggitasthefunctionalcurrency;TuopuUSA,LLC,currentlyoperatingintheUnitedStatesandwithU.S.dollarsasthefunctionalcurrency;TuopuPolandsp.z.o.o,currentlyoperatinginPolandandwithPLNasthefunctionalcurrency.TuopuMexico,currentlyoperatinginMexicoandwithMexicanpesoasthefunctionalcurrency.
82.Lease
(1)Aslessee
√Applicable□NotapplicableVariableleasepaymentsnotincludedinthemeasurementofleaseliabilities
□Applicable√NotapplicableLeasepaymentsforshort-termleasesorlow-valueassetswithsimplifiedtreatment
□Applicable√NotapplicableSaleandleasebacktransactionsandbasisofjudgment
□Applicable√Notapplicable
Totalcashoutflowrelatedtolease70,164,761.58(Unit:YuanCurrency:RMB)
(2)AslessorOperatingleaseaslessor
√Applicable□Notapplicable
Unit:YuanCurrency:RMB
| Item | Leaseincome | ofwhich:Incomerelatedtovariableleasepaymentsnotincludedinleasereceipts |
| Incomefromoperatingleases | 506,880.74 | |
| Total | 506,880.74 |
Financeleaseaslessor
□Applicable√NotapplicableReconciliationofundiscountedleasereceiptstonetinvestmentinleases
□Applicable√NotapplicableUndiscountedleasereceiptsforthenextfiveyears
□Applicable√Notapplicable
(3)Recognitionofgainorlossonsalesunderfinanceleasesasamanufacturerordistributor
□Applicable√Notapplicable
83.Dataresources
□Applicable√Notapplicable
84.Others
□Applicable√NotapplicableVIII.R&Dexpense
(1).Presentationbynatureofexpense
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinpreviousperiod |
| Materialexpense | 394,491,614.87 | 338,641,778.29 |
| Payroll | 565,836,978.84 | 437,826,195.71 |
| Depreciationandamortization | 122,752,314.23 | 92,867,868.03 |
| Transportationandstoragefee | 10,500,639.66 | 9,249,204.84 |
| Energyconsumptionfee | 50,960,887.77 | 44,992,055.69 |
| Travelexpense | 20,954,808.76 | 14,468,560.48 |
| Trialproductionexpense | 19,531,197.37 | 14,588,042.57 |
| Others | 39,214,101.96 | 33,769,299.78 |
| Total | 1,224,242,543.46 | 986,403,005.39 |
| Ofwhich:ExpensedR&Dexpenditure | 1,224,242,543.46 | 986,403,005.39 |
| CapitalizedR&Dexpenditure |
(2).DevelopmentexpenditureonR&Dprojectseligibleforcapitalization
□Applicable√NotapplicableMajorcapitalizedR&Dprojects
□Applicable√NotapplicableProvisionforimpairmentofdevelopmentexpenditures
□Applicable√Notapplicable
(3).Majoroutsourcedresearchanddevelopmentprojectsinprogress
□Applicable√NotapplicableIX.Changesinthescopeofconsolidation
1.Businesscombinationnotundercommoncontrol
√Applicable□Non-applicable
(1).Businesscombinationtransactionsnotunderthesamecontroloccurringduringtheperiod
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Nameofthepurchasedparty | Pointofacquisitionofequity | Costofacquisitionofequity | Percentageofacquisitionofequity(%) | Modeofequityacquisition | Purchasedate | Basisfordeterminingthepurchasedate | Incomeearnedbythepurchasedpartyfromthepurchasedatetotheendoftheperiod | Netprofitofthepurchasedpartyfromthepurchasedatetotheendoftheperiod | Cashflowofthepurchasedpartyfromthepurchasedatetotheendoftheperiod |
| NingboBorgersTuopuAutomobilePartsCo.,Ltd.(Note) | April25th,2024 | 19,005,379.52 | 50.00 | Businesscombinationnotunderthesamecontrol | April25th,2024 | Uponacquisitionofcontrol | 236,867,617.85 | -956,477.32 | 25,430,158.77 |
Note:InJanuary2024,theCompanyenteredintoaShareTransferAgreement(the"Agreement")withJohannBorgersGmbH("Borgers"),theforeignstakeholderofthejointventureNingboBorgersTuopuAutomobilePartsCo.,Ltd.("NingboBorgers").UnderthisAgreement,theCompanycommittedtopurchasingBorgers'50%equityinterestinNingboBorgesforacashpaymentof€2,450,000.00.TheofficialindustrialandcommercialregistrationofNingboBorgerswasupdatedinFebruary2024,andtheentitywassubsequentlyrenamedNingboTuopuAutomotiveTrimCo.,Ltd.("TuopuAutomotiveTrim").TheCompanyfinalizedthepaymentforthesharetransferonApril25,2024,officiallyconcludingtheacquisitiononthatdate.
(2).Costofconsolidationandgoodwill
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Consolidatedcosts | NingboBorgersTuopuAutomobilePartsCo.,Ltd. |
| --Cash | 19,005,379.52 |
| --Fairvalueofnon-cashassets | |
| -Fairvalueofdebtissuedorassumed |
| -Fairvalueofequitysecuritiesissued | |
| -fairvalueofcontingentconsideration | |
| -Fairvalueatthedateofpurchaseofequityinterestsheldpriortothedateofpurchase | 38,766,011.89 |
| --Other | |
| Totalcostofconsolidation | 57,771,391.41 |
| Less:shareoffairvalueofidentifiablenetassetsacquired | 79,672,887.61 |
| Amountbywhichgoodwill/costofcombinationislessthanshareoffairvalueofidentifiablenetassetsacquired | -21,901,496.20 |
Methodofdeterminingfairvalueofconsolidatedcosts:
□Applicable√Non-applicableCompletionofperformancecommitments:
□Applicable√Non-applicableMainreasonsfortheformationoflargeamountofgoodwill:
□Applicable√Non-applicable
(3).Identifiableassetsandliabilitiesofthepurchasedpartyatthepurchasedate
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| NingboBorgersTuopuAutomobilePartsCo.,Ltd. | ||
| Fairvalueatdateofpurchase | Carryingvalueatdateofpurchase | |
| Assets: | 152,391,911.74 | 152,391,911.74 |
| Monetaryfunds | 25,335,492.75 | 25,335,492.75 |
| Accountsreceivable | 59,419,514.55 | 59,419,514.55 |
| Prepayments | 1,061,595.99 | 1,061,595.99 |
| Otherreceivables | 1,176,369.02 | 1,176,369.02 |
| Inventories | 24,168,195.24 | 24,168,195.24 |
| Fixedassets | 17,723,957.19 | 17,723,957.19 |
| Intangibleassets | 412,657.00 | 412,657.00 |
| Constructioninprogress | 12,251,380.59 | 12,251,380.59 |
| Long-termamortisation | 8,268,621.22 | 8,268,621.22 |
| Othercurrentassets | 2,574,128.19 | 2,574,128.19 |
Liabilities:
| Liabilities: | 72,719,024.13 | 72,719,024.13 |
| Borrowings | ||
| Payables | 71,247,206.62 | 71,247,206.62 |
| Deferredincometaxliabilities | ||
| Employeecompensationpayable | 1,433,704.32 | 1,433,704.32 |
| Other | 38,113.19 | 38,113.19 |
| receivables | ||
| Netassets | 79,672,887.61 | 79,672,887.61 |
| Less:Minorityinterests | ||
| Netassetsacquired | 79,672,887.61 | 79,672,887.61 |
(4).Gainsorlossesarisingfromtheremeasurementtofairvalueofequityinterestsheldpriorto
thedateofpurchaseWhethertherearetransactionsinwhichabusinesscombinationisachievedinstagesthroughmultipletransactionsandcontrolisobtainedduringthereportingperiod.
□Applicable√Non-applicable
(5).Notetotheinabilitytoreasonablydeterminethefairvalueoftheconsiderationforthe
combinationortheidentifiableassetsandliabilitiesoftheacquireeatthedateofpurchaseor
attheendoftheperiodofcombination.
□Applicable√Non-applicable
(6).Additionalnotes
□Applicable√Non-applicable
2.Businesscombinationundercommoncontrol
□Applicable√Non-applicable
(1).Businesscombinationunderthesamecontroloccurringinthisperiod
□Applicable√Non-applicable
(2).Costofconsolidation
□Applicable√Non-applicable
(3).Carryingvalueofassetsandliabilitiesofthepartytobeconsolidatedatthedateof
consolidation
□Applicable√Non-applicable
3.Counterpurchase
□Applicable√Non-applicable
4.DisposalofsubsidiariesWhetherthereisanytransactionsoreventsduringtheperiodinwhichcontrolofsubsidiariesislost
□Applicable√Non-applicableOthernotes:
□Applicable√Non-applicableWhetherthereisastep-by-stepdisposalofinvestmentsinsubsidiariesthroughmultipletransactionsandlossofcontrolduringtheperiod
□Applicable√Non-applicableOthernotes:
□Applicable√Non-applicable
5.ChangesinthescopeofconsolidationduetootherreasonsAccountforthechangesinthescopeofconsolidationasaresultofotherreasons(forexample,newestablishmentsofsubsidiaries,liquidationofsubsidiaries)andrelevantcircumstances:
□Applicable√Non-applicable
6.Others
□Applicable√Non-applicable
X.EquityinOtherEntities
1.EquityinSubsidiaries
(1).Compositionofthegroup
√Applicable□Non-applicable
Unit:yuanCurrency:RMB
| NameofSubsidiary | PrincipalBusinessSite | RegisteredCapital | RegisteredAddress | NatureofBusiness | PercentageofShares(%) | MethodofAcquisition | |
| Direct | Indirect | ||||||
| TuopuAutomobileElectronics | Ningbo | RMB2,500million | Ningbo | Manufacturing | 100.00 | Establishment | |
| TuopuThermalManagement | Ningbo | RMB4,500million | Ningbo | Manufacturing | 100.00 | Establishment | |
| TuopuImp&Exp | Ningbo | RMB200million | Ningbo | Trading | 100.00 | Businesscombinationundercommoncontrol | |
| TuopuAutomobileParts | Ningbo | RMB200million | Ningbo | Trading | 100.00 | Businesscombinationundercommoncontrol | |
| TUOPUVIBRO-ACOUSTICS | Ningbo | RMB200million | Ningbo | Trading | 100.00 | Businesscombinationundercommoncontrol | |
| ZhejiangTowin | Jinhua | RMB180million | Jinhua | Manufacturing | 100.00 | Businesscombinationnotundercommoncontrol | |
| SuiningTuopu | Suining | RMB150million | Suining | Manufacturing | 100.00 | Businesscombinationnotundercommoncontrol | |
| USHONEELECTRONICCHASSIS | Ningbo | RMB50million | Ningbo | Trading | 100.00 | Establishment | |
| TuopuChassis | Ningbo | RMB600million | Ningbo | Manufacturing | 100.00 | Establishment | |
| HunanTuopu | Xiangtan | RMB800million | Xiangtan | Manufacturing | 100.00 | Establishment | |
| SkateboardChassis | Ningbo | RMB4,000million | Ningbo | Manufacturing | 100.00 | Establishment | |
| TaizhouTuopu | Taizhou | RMB | Taizhou | Manufacturi | 100.0 | Establishme | |
| 100million | ng | 0 | nt | ||||
| SHANGHAITUOPUYALE | Shanghai | RMB50million | Shanghai | Manufacturing | 100.00 | Establishment | |
| PinghuTuopu | Jiaxing | RMB208million | Jiaxing | Manufacturing | 100.00 | Establishment | |
| TuopuNorthAmericaLimited | Canada | CAD10,000 | Canada | Trading | 51.00 | Businesscombinationnotundercommoncontrol | |
| TuopuUSA,LLC | USA | USD5million | USA | Trading | 100.00 | Establishment | |
| TuopuPoland | Poland | PLN10million | Poland | Manufacturing | 100.00 | Establishment | |
| Xi’anTuopu | Xi’an | RMB200million | Xi’an | Manufacturing | 100.00 | Establishment | |
| WuhanTuopu | Wuhan | RMB150million | Wuhan | Manufacturing | 100.00 | Establishment | |
| SichuanTuopu | Linshui | RMB20million | Linshui | Manufacturing | 100.00 | Establishment | |
| LiuzhouTuopu | Liuzhou | RMB100million | Liuzhou | Manufacturing | 100.00 | Businesscombinationundercommoncontrol | |
| HuzhouTuopu | Huzhou | RMB350million | Huzhou | Manufacturing | 100.00 | Establishment | |
| BaojiTuopu | Baoji | RMB50million | Baoji | Manufacturing | 100.00 | Establishment | |
| YantaiTuopu | Yantai | RMB62.80million | Yantai | Manufacturing | 100.00 | Businesscombinationundercommoncontrol | |
| NingboQianhui | Ningbo | USD3.7551million | Ningbo | Manufacturing | 51.00 | Businesscombinationnotundercommoncontrol | |
| ShenyangTuopu | Shenyang | RMB10million | Shenyang | Manufacturing | 100.00 | Establishment | |
| JinzhongTuopu | Jinzhong | RMB8million | Jinzhong | Manufacturing | 100.00 | Establishment | |
| ChongqingTuopu | Chongqing | RMB14.6422million | Chongqing | Manufacturing | 100.00 | Businesscombinationnotundercommoncontrol | |
| HangzhouTuopu | Hangzhou | RMB3million | Hangzhou | Manufacturing | 100.00 | Businesscombinationnotunder |
| commoncontrol | |||||||
| ShanghaiTowin | Shanghai | RMB121million | Shanghai | R&D | 100.00 | Establishment | |
| ShenzhenTowin | Shenzhen | RMB20million | Shenzhen | R&D | 100.00 | Establishment | |
| UshoneE-commerce | Ningbo | RMB100million | Ningbo | Service | 100.00 | Establishment | |
| UshoneTechnology | Ningbo | RMB300million | Ningbo | Manufacturing | 100.00 | Establishment | |
| TuopuInvestment | Ningbo | RMB200million | Ningbo | Investment | 100.00 | Establishment | |
| TuopuInternational | HongKong | RMB33million | HongKong | Investment | 100.00 | Establishment | |
| TuopuIndustrialAutomation | Ningbo | RMB20million | Ningbo | Manufacturing | 100.00 | Establishment | |
| TuopuNorthAmericaUSALimited,INC | USA | USD10 | USA | Service | 51.00 | Establishment | |
| TuopuSweden | Sweden | SEK50,000 | Sweden | R&D | 100.00 | Establishment | |
| TUOPUDOBRASIL | Brazil | BRL80.8095million | Brazil | Manufacturing | 99.96 | 0.04 | Establishment |
| TuopuMalaysia | Malaysia | MYR2.50million | Malaysia | Manufacturing | 100.00 | Establishment | |
| ChongqingChassis | Chongqing | RMB500million | Chongqing | Manufacturing | 100.00 | Establishment | |
| AnhuiTuopu | Huainan | RMB600million | Huainan | Manufacturing | 100.00 | Establishment | |
| TuopuMexico | Mexico | MXN245.5979million | Mexico | Manufacturing | 99.00 | 1.00 | Establishment |
| TuopuPhotovoltaicTechnology(NingboBeilun) | Ningbo | RMB50million | Ningbo | Powergenerationservice | 100.00 | Establishment | |
| TuopuPhotovoltaicTechnology(HangzhouBay) | Ningbo | RMB100million | Ningbo | Powergenerationservice | 100.00 | Establishment | |
| TuopuPhotovoltaicTechnology(Pinghu) | Jiaxing | RMB50million | Jiaxing | Powergenerationservice | 100.00 | Establishment | |
| TuopuPhotovoltaicTechnology(Taizhou) | Taizhou | RMB20million | Taizhou | Powergenerationservice | 100.00 | Establishment | |
| TuopuPhotovoltaicTechnology(Jinhua) | Jinhua | RMB10million | Jinhua | Powergenerationservice | 100.00 | Establishment | |
| HenanTuopu | Kaifeng | RMB50 | Kaifeng | Manufacturi | 100.0 | Establishme |
| million | ng | 0 | nt | ||||
| JinanTuopu | Jinan | RMB50million | Jinan | Manufacturing | 100.00 | Establishment | |
| TuopuPhotovoltaicTechnology(NingboYinzhou) | Ningbo | RMB50million | Ningbo | Powergenerationservice | 100.00 | Establishment | |
| TuopuPhotovoltaicTechnology(Xiangtan) | Xiangtan | RMB50million | Xiangtan | Powergenerationservice | 100.00 | Establishment | |
| TuopuPhotovoltaicTechnology(Wuhan) | Wuhan | RMB30million | Wuhan | Powergenerationservice | 100.00 | Establishment | |
| TuopuPhotovoltaicTechnology(Linshui) | Guang’an | RMB20million | Guang’an | Powergenerationservice | 100.00 | Establishment | |
| TuopuPhotovoltaicTechnology(Suiningn) | Suining | RMB10million | Suining | Powergenerationservice | 100.00 | Establishment | |
| TuopuPhotovoltaicTechnology(Liuzhou) | Liuzhou | RMB10million | Liuzhou | Powergenerationservice | 100.00 | Establishment | |
| TuopuPhotovoltaicTechnology(Shenyang) | Shenyang | RMB10million | Shenyang | Powergenerationservice | 100.00 | Establishment | |
| NingboAutomotiveTrim | Ningbo | RMB21million | Ningbo | Trading | 100.00 | Businesscombinationnotunderthesamecontrol | |
| LangfangTuopu | Langfang | RMB20million | Langfang | Manufacturing | 100.00 | Businesscombinationnotunderthesamecontrol | |
| ShenyangMaigaoTuopu | Shenyang | RMB35million | Shenyang | Manufacturing | 100.00 | Businesscombinationnotunderthesamecontrol |
(2).Importantnon-whollyownedsubsidiaries
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| NameofSubsidiary | Percentageofsharesheldbyminorityshareholders | Profitandlossattributabletominorityshareholdersinthecurrentperiod | Dividendsdeclaredtominorityshareholdersinthecurrentperiod | Balanceofminorityshareholders'equityattheendoftheperiod |
| TuopuNorthAmericaLimited | 49.00% | 99,599.69 | -1,910,842.79 |
Notestothepercentageofsharesheldbyminorityshareholderthatisdifferentfromthepercentageofvotingrights:
□Applicable√Non-applicable
OtherNotes:
□Applicable√Non-applicable
(3).Mainfinancialinformationofimportantnon-wholly-ownedsubsidiaries
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Nameofsubsidiary | Balanceattheendoftheperiod | Balanceatthebeginningoftheperiod | ||||||||||
| Currentassets | Non-currentassets | Totalassets | Currentliabilities | Non-currentliabilities | TotalLiabilities | Currentassets | Non-currentassets | Totalassets | Currentliabilities | Non-currentliabilities | TotalLiabilities | |
| TuopuNorthAmericaLimited | 50,940,112.73 | 7,913,725.77 | 58,853,838.50 | 62,753,517.67 | 62,753,517.67 | 56,444,244.57 | 8,948,741.10 | 65,392,985.67 | 69,495,929.50 | 69,495,929.50 | ||
NameofSubsidiary
| NameofSubsidiary | Amountincurredinthecurrentperiod | Amountincurredinpreviousperiod | ||||||
| Operatingincome | Netprofit | Totalcomprehensiveincome | Cashflowfromoperatingactivities | Operatingincome | Netprofit | Totalcomprehensiveincome | Cashflowfromoperatingactivities | |
| TuopuNorthAmericaLimited | 1,223,274,149.97 | 232,658.65 | 203,264.66 | 6,421,839.48 | 1,294,050,339.17 | 792,453.45 | 842,568.70 | -27,591,777.20 |
(4).Significantrestrictionsontheuseofgroupassetsandthesettlementofgroupdebts
□Applicable√Non-applicable
(5).Financialsupportorothersupportprovidedtostructuredentitiesincludedinthescopeofconsolidatedfinancialstatements
□Applicable√Non-applicableOthernotes:
□Applicable√Non-applicable
2.Transactionsleadingtoachangeintheshareofowner'sequityinthesubsidiaryandthecontroloverthesubsidiaryremains
□Applicable√Non-applicable
(1).Notetochangesinshareofownershipinterestsinsubsidiaries
□Applicable√Non-applicable
(2).Effectofthetransactiononminorityinterestsandequityattributabletotheparentcompany
□Applicable√Non-applicable
3.Rightsandinterestsinjointventuresorassociates
√Applicable□Non-applicable
(1).Importantjointventuresorassociates
√Applicable□Non-applicable
| Nameofjointventureorassociate | PrincipalBusinessSite | RegisteredAddress | BusinessNature | PercentageofSharesHeld(%) | Accountingtreatmentofinvestmentinjointventuresorassociate | |
| Direct | Indirect | |||||
| TuopuElectricalAppliancesCo.,Ltd.(Note) | Ningbo | Ningbo | Manufacturing | 50.00 | Equitymethod | |
Note:TuopuElectricalAppliancesCo.,Ltd.ishereinafterreferredtoas"TuopuElectricalAppliances".
(2).Mainfinancialinformationofimportantjointventures
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Balanceattheendoftheperiod/Amountincurredinthecurrentperiod | Balanceatthebeginningoftheperiod/Amountincurredinpreviousperiod | |||
| TuopuElectricalAppliances | TuopuElectricalAppliances | |||
| Currentassets | 287,030,417.44 | 281,521,077.93 | ||
| Including:cashandcashequivalents | 10,099,557.61 | 36,912,035.93 | |
| Non-currentassets | 49,532,777.32 | 46,509,479.21 | |
| Totalassets | 336,563,194.76 | 328,030,557.14 |
Currentliabilities
| Currentliabilities | 142,404,383.73 | 129,151,221.33 | |
| Non-currentliabilities | 416,951.83 | 531,850.99 | |
| Totalliabilities | 142,821,335.56 | 129,683,072.32 |
Minorityshareholders'equity
| Minorityshareholders'equity | |||
| Equityattributabletoshareholdersoftheparentcompany | 193,741,859.20 | 198,347,484.82 |
Shareofnetassetscalculatedatthepercentageofsharesheld
| Shareofnetassetscalculatedatthepercentageofsharesheld | 96,870,929.60 | 99,173,742.41 | |
| Adjustedevents | -138,245.41 | -64,653.71 | |
| --Goodwill | |||
| --Unrealizedprofitsfrominternaltransactions | -138,245.41 | -64,653.71 | |
| -Others | |||
| Bookvalueofequityinvestmentinjointventures | 96,732,684.19 | 99,109,088.70 |
Fairvalueofequityinvestmentinjointventureswithpublicoffers
FairvalueofequityinvestmentinjointventureswithpublicoffersOperatingincome
| Operatingincome | 441,097,928.46 | 342,066,211.10 | |
| Financialexpenses | -866,599.61 | 10,956.57 | |
| Incometaxexpense | 14,147,365.74 | 10,395,145.73 | |
| Netprofit | 95,394,374.38 | 72,600,262.59 | |
| Netprofitfromdiscontinuedoperations | |||
| Othercomprehensiveincome | |||
| Totalcomprehensiveincome | 95,394,374.38 | 72,600,262.59 |
Dividendsreceivedfromjointventuresinthisyear
| Dividendsreceivedfromjointventuresinthisyear | 50,000,000.00 |
(3).Mainfinancialinformationofimportantassociates
□Applicable√Non-applicable
(4).Summaryoffinancialinformationofunimportantjointventuresandassociates
□Applicable√Non-applicable
(5).NotetosignificantrestrictionsontheabilityofjointventuresorassociatestotransferfundstotheCompany
□Applicable√Non-applicable
(6).Excesslossessufferedbyjointventuresorassociates
□Applicable√Non-applicable
(7).Unconfirmedcommitmentsrelatedtojointventureinvestment
□Applicable√Non-applicable
(8).Contingentliabilitiesrelatedtoinvestmentinjointventuresorassociates
□Applicable√Non-applicable
4.Importantjointoperations
□Applicable√Non-applicable
5.EquityinstructuredentitiesnotincludedinthescopeofconsolidatedfinancialstatementsNotetostructuredentitiesnotincludedinthescopeoftheconsolidatedfinancialstatements:
□Applicable√Non-applicable
6.Others
□Applicable√Non-applicableXI.Governmentsubsidies
1.Governmentgrantsrecognizedattheendofthereportingperiodbasedonamountsreceivable
□Applicable√NotapplicableReasonsforfailingtoreceivegovernmentgrantsintheestimatedamountattheestimatedpointintime
□Applicable√Notapplicable
2.Liabilityitemsinvolvinggovernmentgrants
√Applicable□Notapplicable
Unit:YuanCurrency:RMB
| Financialstatementitems | Openingbalance | Amountofnewgrantsduringtheperiod | Amountincludedinnon-operatingincomeduringtheperiod | Transferredtootherincomeduringtheperiod | Otherchangesduringtheperiod | Closingbalance | Asset/incomerelated |
| Automobilecompositefiberproductionproject | 141,666.75 | 99,999.96 | 41,666.79 | Assetrelated | |||
| Productionandapplicationtechnologytransformationprojectoflightweightmaterialsforvehicles | 1,750,000.00 | 875,000.00 | 875,000.00 | Assetrelated | |||
| Technologicaltransformationprojectofhigh-performanceVibrationControlsystem | 4,621,219.30 | 660,174.17 | 3,961,045.13 | Assetrelated | |||
| Productionlinetransformationprojectofhigh-performanceVibrationControlsystemforcars | 1,102,476.00 | 551,238.00 | 551,238.00 | Assetrelated | |||
| Digitalworkshopprojectwithanannualcapacityof120,000setsofintelligentbrakesystems | 2,837,027.57 | 405,289.65 | 2,431,737.92 | Assetrelated | |||
| Machinesubstitution | 826,000.00 | 472,000.00 | 354,000.00 | Assetrelated |
| forhumanprojectwithanannualcapacityof700,000setsofVibrationControlproducts | ||||||
| Technologicaltransformationprojectofhigh-performanceVibrationControlsystemforautomobiles | 4,456,305.47 | 891,261.08 | 3,565,044.39 | Assetrelated | ||
| TechnologicalTransformationProjectofAutomobileInteriorandExteriorTrimParts | 4,431,366.68 | 815,466.48 | 3,615,900.20 | Assetrelated | ||
| TechnologicalTransformationProjectofAutomobileLightweightPartsProductionLine | 4,576,282.22 | 915,256.44 | 3,661,025.78 | Assetrelated | ||
| TechnologicalImprovementProjectforAutomobileLightweightChassisComponents | 8,320,980.11 | 1,081,924.14 | 7,239,055.97 | Assetrelated | ||
| Technologicaltransformationprojectofautomobilelightweightchassissystemproductionline | 201,116.20 | 108,162.16 | 92,954.04 | Assetrelated | ||
| TechnologicalTransformationProjectof | 3,831,648.88 | 875,375.13 | 2,956,273.75 | Assetrelated |
| AutomobileLightweightControlArms | |||||||
| Technologicaltransformationprojectoflightweightautoparts | 5,205,287.11 | 664,181.16 | 4,541,105.95 | Assetrelated | |||
| TuopuIntelligentAutomotiveElectronicsIndustrialParkProject | 21,666,885.46 | 1,385,714.25 | 20,281,171.21 | Assetrelated | |||
| DigitalizationWorkshopProjectofThermalManagementSystemforNewEnergyVehicleswithAnnualCapacityof250,000Sets | 16,410,256.42 | 2,051,282.05 | 14,358,974.37 | Assetrelated | |||
| TechnologyTransformationProjectforNewEnergyVehicleChassisKeyParts | 13,594,517.32 | 1,590,333.77 | 12,004,183.55 | Assetrelated | |||
| NewEnergyVehicleIntelligentBrakeSystemDigitalizationWorkshop | 6,433,159.48 | 418,651.56 | 6,014,507.92 | Assetrelated | |||
| NewEnergyVehicleElectronicChassisCriticalComponentsTechnologicalTransformationProject | 16,719,026.09 | 1,822,117.60 | 14,896,908.49 | Assetrelated | |||
| AutomotiveIndustrytoNewEnergyTransformationandUpgradingInvestmentProject | 5,000,000.00 | 45,871.56 | 4,954,128.44 | Assetrelated |
| Technologicaltransformationprojectfortheproductionlineofautomotivelightweightalloypartswithanannualcapacityof300,000sets | 5,790,289.43 | 1,000,000.20 | 4,790,289.23 | Assetrelated | ||
| TechnologicalTransformationProjectofAutomobileHigh-PerformanceVibrationControlSystem | 3,915,520.20 | 573,207.60 | 3,342,312.60 | Assetrelated | ||
| Landlevelingsubsidies | 7,313,818.90 | 154,582.32 | 7,159,236.58 | Assetrelated | ||
| AutomotivePartsProductionandIndustrialAutomationProject | 66,666,861.65 | 4,500,000.00 | 62,166,861.65 | Assetrelated | ||
| AutomobileLightweightSteeringSystemTechnologicalTransformationProject | 16,420,799.93 | 1,990,400.04 | 14,430,399.89 | Assetrelated | ||
| 2022AutomobileChassisVibrationControlSystemTechnologicalTransformationProject | 17,929,166.62 | 2,000,000.04 | 15,929,166.58 | Assetrelated | ||
| AutomobileHighPerformanceShockAbsorptionSystemProduction | 4,929,166.62 | 650,000.02 | 4,279,166.60 | Assetrelated |
| ProjectwithanAnnualCapacityof2MillionSets | ||||||
| TechnologicalTransformationProjectforAutomotiveNVHInteriorTrimParts | 2,190,900.76 | 288,910.02 | 1,901,990.74 | Assetrelated | ||
| TechnologicalTransformationProjectforAutomotiveLightweightComponents | 4,929,166.63 | 650,000.02 | 4,279,166.61 | Assetrelated | ||
| AutomotiveLightweightComponentsTechnologicalTransformationProjectwithanAnnualCapacityof3millionsets | 4,929,166.63 | 650,000.02 | 4,279,166.61 | Assetrelated | ||
| District-levelTechnologicalTransformationProjectforNewEnergyVehicleFrontandRearAxleAssembly | 1,683,333.27 | 200,000.04 | 1,483,333.23 | Assetrelated | ||
| District-levelTechnologicalTransformationProjectforLightweightSteeringSystem | 1,683,333.28 | 200,000.03 | 1,483,333.25 | Assetrelated | ||
| District-levelTechnologicalTransformationSubsidiesforAutomobileChassisVibrationControl | 1,683,333.27 | 200,000.04 | 1,483,333.23 | Assetrelated |
| System | |||||||
| TechnologicalTransformationProjectforNewEnergyVehicleFrontandRearAxleAssembly | 15,666,666.59 | 2,000,000.04 | 13,666,666.55 | Assetrelated | |||
| 2023TechnologicalTransformationSubsidiesforAutomotiveControlArmProject | 3,766,666.69 | 399,999.97 | 3,366,666.72 | Assetrelated | |||
| 2023lightweightsubframedigitalizationworkshop | 4,930,000.00 | 510,000.00 | 4,420,000.00 | Assetrelated | |||
| 2024NEVChassisStructuralPartsTechnologyReformProject | 4,000,000.00 | 33,333.33 | 3,966,666.67 | Assetrelated | |||
| HunanXiangtanAutoPartsIndustrialBaseProject | 14,226,009.67 | 399,721.00 | 811,521.95 | 13,814,208.72 | Assetrelated | ||
| TuopuNEVLightweightChassisSystemandInteriorSoundInsulationPartsSystemProductionBaseProject | 57,600,000.00 | 5,760,000.00 | 51,840,000.00 | Assetrelated | |||
| Digitalworkshopoflightweightchassissystemfornewenergypassengercars | 5,100,000.00 | 297,500.00 | 4,802,500.00 | Assetrelated | |||
| IncentivesforDomesticEquipment | 1,000,000.00 | 99,999.96 | 900,000.04 | Assetrelated |
| RenewalandUpgrading | |||||||
| TuopuChassisAutoPartsIndustrialBaseProject | 15,398,446.37 | 329,378.52 | 15,069,067.85 | Assetrelated | |||
| TechnologicalTransformationProjectforLightweightAutomobileChassisSystemProductionLinewithanAnnualCapacityof100,000Sets | 3,563,721.74 | 438,669.96 | 3,125,051.78 | Assetrelated | |||
| Productionlinetechnologyreformprojectwithanannualoutputof160,000setsofautomotiveinteriorfunctionalparts | 300,000.00 | 21,052.64 | 278,947.36 | Assetrelated | |||
| Productionlinetechnologyreformprojectwithanannualoutputof150,000setsofnewenergyautomobilechassisparts | 3,492,000.00 | 254,600.00 | 3,237,400.00 | Assetrelated | |||
| RelatedAutoPartsProductionLineProjectwithanAnnualCapacityof300,000sets | 401,147.38 | 78,814.82 | 322,332.56 | Assetrelated | |||
| AutomobileChassisComponentsProjectwithanAnnual | 4,197,999.55 | 103,229.50 | 4,094,770.05 | Assetrelated |
| Capacityof500,000sets | ||||||
| ProductionLineProjectforPassengerCarChassisSuspensionRelatedPartswithanAnnualCapacityof500,000sets | 1,398,804.64 | 326,052.96 | 1,072,751.68 | Assetrelated | ||
| Technologicaltransformationprojectforautomobilesuspensionchassisproductionlinewithanannualcapacityof500,000sets | 2,339,628.20 | 412,001.76 | 1,927,626.44 | Assetrelated | ||
| Technologicaltransformationprojectforautomobilefrontandrearaxleproductionlinewithanannualcapacityof200,000sets | 409,269.80 | 378,110.80 | 31,159.00 | Assetrelated | ||
| Technologicaltransformationprojectforautomobilesuspensionchassisproductionlinewithanannualcapacityof300,000sets | 818,520.16 | 289,187.59 | 529,332.57 | Assetrelated | ||
| PinghuTuopuAutoPartsProductionProject | 10,346,050.00 | 795,850.00 | 9,550,200.00 | Assetrelated | ||
| AutomotiveInteriorTrimPartsRelocation | 442,375.18 | 110,593.80 | 331,781.38 | Assetrelated |
| ProjectwithanAnnualOutputof300,000Sets | ||||||
| LightweightSuspensionSystemTechnologyReformProjectwithanAnnualOutputof350,000Sets | 5,188,000.00 | 1,245,183.33 | 3,942,816.67 | Assetrelated | ||
| NEVBatteryBracketTechnicalUpgradingProjectwithanAnnualOutputof200,000Sets | 5,600,000.00 | 326,666.67 | 5,273,333.33 | Assetrelated | ||
| AutomobileFabricProductionLineProject | 2,087,711.71 | 533,032.78 | 1,554,678.93 | Assetrelated | ||
| IntelligentFactoryConstructionProjectforAutomobileInteriorTrimPartswithanannualcapacityof2millionsets | 375,833.31 | 110,000.00 | 265,833.31 | Assetrelated | ||
| TechnologicaltransformationprojectforAutoRoofandCarpetAssemblySeriesInteriorTrimPartswithanannualcapacityof1.6millionsets | 495,000.00 | 165,000.00 | 330,000.00 | Assetrelated | ||
| LiudongNewAreaAutoPartsProductionProject | 1,109,674.42 | 84,279.16 | 1,025,395.26 | Assetrelated | ||
| FactoryOutdoorSupporting | 5,307,890.16 | 393,046.46 | 4,914,843.70 | Assetrelated |
| EngineeringProject | |||||||
| ShenyangTuopuAutoPartsBaseProject | 194,444.39 | - | 194,444.39 | Assetrelated | |||
| SubsidiesfortheSecondBatchofIntelligentManufacturingProjectsinBeilunDistrictin2023byBeilunDistrictEconomyandInformationBureau | 5,219,966.42 | 106,711.44 | 5,113,254.98 | Assetrelated | |||
| TuopuAnhuilandsubsidies | 5,949,152.55 | 10,000,000.00 | 293,560.48 | 15,655,592.07 | Assetrelated | ||
| Total | 424,223,057.18 | 29,291,721.00 | 45,493,777.47 | 408,021,000.71 |
3.Governmentgrantsrecognizedinprofitorlossfortheperiod
√Applicable□Notapplicable
Unit:YuanCurrency:RMB
| Type | Amountincurrentperiod | Amountinpriorperiod |
| Assetrelated | 45,493,777.47 | 35,415,808.26 |
| Incomerelated | 230,306,395.46 | 118,982,642.60 |
| Total | 275,800,172.93 | 154,398,450.86 |
Othernotes:
Governmentgrantsrelatedtoassets
Unit:YuanCurrency:RMB
| Itemspresentedinthebalancesheet | Amountsofgovernmentgrants | Amountsincludedinprofitorlossfortheperiodoroffsetagainstrelatedcostandexpenselosses | Itemsincludedinprofitorlossfortheperiodoroffsetagainstrelatedcostandexpenselosses | |
| Amountincurrentperiod | Amountinpriorperiod | |||
| Automobilecompositefiberproductionproject | 1,000,000.00 | 99,999.96 | 100,000.00 | Assetrelated |
| Productionandapplicationtechnologytransformationprojectoflightweightmaterialsforvehicles | 7,000,000.00 | 875,000.00 | 875,000.00 | Assetrelated |
| Technologicaltransformationprojectofhigh-performanceVibrationControlsystem | 5,910,700.00 | 660,174.17 | 660,174.18 | Assetrelated |
| Productionlinetransformationprojectofhigh-performanceVibrationControlsystemforcars | 4,409,904.00 | 551,238.00 | 551,238.00 | Assetrelated |
| Digitalworkshopprojectwithanannualcapacityof120,000setsofintelligentbrakesystems | 4,041,000.00 | 405,289.65 | 405,289.65 | Assetrelated |
| Machinesubstitutionforhumanprojectwithanannualcapacityof700,000setsofVibrationControlproducts | 4,720,000.00 | 472,000.00 | 472,000.00 | Assetrelated |
| Technologicaltransformationprojectofhigh-performanceVibrationControl | 8,250,992.00 | 891,261.08 | 891,261.08 | Assetrelated |
| Itemspresentedinthebalancesheet | Amountsofgovernmentgrants | Amountsincludedinprofitorlossfortheperiodoroffsetagainstrelatedcostandexpenselosses | Itemsincludedinprofitorlossfortheperiodoroffsetagainstrelatedcostandexpenselosses | |
| Amountincurrentperiod | Amountinpriorperiod | |||
| systemforautomobiles | ||||
| TechnologicalTransformationProjectofAutomobileInteriorandExteriorTrimParts | 7,794,112.00 | 815,466.48 | 815,466.48 | Assetrelated |
| TechnologicalTransformationProjectofAutomobileLightweightPartsProductionLine | 8,443,472.00 | 915,256.44 | 915,256.45 | Assetrelated |
| TechnologicalImprovementProjectforAutomobileLightweightChassisComponents | 10,458,600.00 | 1,081,924.14 | 875,375.14 | Assetrelated |
| Technologicaltransformationprojectofautomobilelightweightchassissystemproductionline | 1,000,500.00 | 108,162.16 | 664,181.16 | Assetrelated |
| TechnologicalTransformationProjectofAutomobileLightweightControlArms | 8,085,312.00 | 875,375.13 | 1,420,601.92 | Assetrelated |
| Technologicaltransformationprojectoflightweightautoparts | 6,125,420.00 | 664,181.16 | 108,162.16 | Assetrelated |
| TuopuIntelligentAutomotiveElectronicsIndustrialParkProject | 27,000,000.00 | 1,385,714.25 | 1,081,924.14 | Assetrelated |
| DigitalizationWorkshopProjectofThermalManagementSystemforNewEnergyVehicleswithAnnualCapacityof250,000Sets | 20,000,000.00 | 2,051,282.05 | 2,051,282.05 | Assetrelated |
| TechnologyTransformationProjectforNewEnergyVehicleChassisKeyParts | 15,161,900.00 | 1,590,333.77 | 1,443,211.99 | Assetrelated |
| NewEnergyVehicleIntelligentBrakeSystemDigitalizationWorkshop | 6,489,100.00 | 418,651.56 | 55,940.52 | Assetrelated |
| Itemspresentedinthebalancesheet | Amountsofgovernmentgrants | Amountsincludedinprofitorlossfortheperiodoroffsetagainstrelatedcostandexpenselosses | Itemsincludedinprofitorlossfortheperiodoroffsetagainstrelatedcostandexpenselosses | |
| Amountincurrentperiod | Amountinpriorperiod | |||
| NewEnergyVehicleElectronicChassisCriticalComponentsTechnologicalTransformationProject | 17,936,000.00 | 1,822,117.60 | 1,216,973.91 | Assetrelated |
| AutomotiveIndustrytoNewEnergyTransformationandUpgradingInvestmentProject | 5,000,000.00 | 45,871.56 | Assetrelated | |
| Technologicaltransformationprojectfortheproductionlineofautomotivelightweightalloypartswithanannualcapacityof300,000sets | 10,000,000.00 | 1,000,000.20 | 1,000,000.20 | Assetrelated |
| TechnologicalTransformationProjectofAutomobileHigh-PerformanceVibrationControlSystem | 5,713,900.00 | 573,207.60 | 573,207.60 | Assetrelated |
| Landlevelingsubsidies | 7,729,116.00 | 154,582.32 | 154,582.32 | Assetrelated |
| AutomotivePartsProductionandIndustrialAutomationProject | 90,000,000.00 | 4,500,000.00 | 4,500,000.00 | Assetrelated |
| AutomobileLightweightSteeringSystemTechnologicalTransformationProject | 19,904,000.00 | 1,990,400.04 | 1,990,400.04 | Assetrelated |
| 2022AutomobileChassisVibrationControlSystemTechnologicalTransformationProject | 20,000,000.00 | 2,000,000.04 | 1,912,500.04 | Assetrelated |
| AutomobileHighPerformanceShockAbsorptionSystemProductionProjectwithanAnnualCapacityof2MillionSets | 6,500,000.00 | 650,000.02 | 650,000.02 | Assetrelated |
| Itemspresentedinthebalancesheet | Amountsofgovernmentgrants | Amountsincludedinprofitorlossfortheperiodoroffsetagainstrelatedcostandexpenselosses | Itemsincludedinprofitorlossfortheperiodoroffsetagainstrelatedcostandexpenselosses | |
| Amountincurrentperiod | Amountinpriorperiod | |||
| TechnologicalTransformationProjectforAutomotiveNVHInteriorTrimParts | 2,889,100.00 | 288,910.02 | 288,910.02 | Assetrelated |
| TechnologicalTransformationProjectforAutomotiveLightweightComponents | 6,500,000.00 | 650,000.02 | 650,000.02 | Assetrelated |
| AutomotiveLightweightComponentsTechnologicalTransformationProjectwithanAnnualCapacityof3millionsets | 6,500,000.00 | 650,000.02 | 650,000.02 | Assetrelated |
| District-levelTechnologicalTransformationProjectforNewEnergyVehicleFrontandRearAxleAssembly | 2,000,000.00 | 200,000.04 | 200,000.04 | Assetrelated |
| District-levelTechnologicalTransformationProjectforLightweightSteeringSystem | 2,000,000.00 | 200,000.03 | 200,000.03 | Assetrelated |
| District-levelTechnologicalTransformationSubsidiesforAutomobileChassisVibrationControlSystem | 2,000,000.00 | 200,000.04 | 200,000.04 | Assetrelated |
| TechnologicalTransformationProjectforNewEnergyVehicleFrontandRearAxleAssembly | 20,000,000.00 | 2,000,000.04 | 2,000,000.04 | Assetrelated |
| 2023TechnologicalTransformationSubsidiesforAutomotiveControlArmProject | 4,000,000.00 | 399,999.97 | 233,333.31 | Assetrelated |
| 2023lightweightsubframedigitalizationworkshop | 5,100,000.00 | 510,000.00 | 170,000.00 | Assetrelated |
| Itemspresentedinthebalancesheet | Amountsofgovernmentgrants | Amountsincludedinprofitorlossfortheperiodoroffsetagainstrelatedcostandexpenselosses | Itemsincludedinprofitorlossfortheperiodoroffsetagainstrelatedcostandexpenselosses | |
| Amountincurrentperiod | Amountinpriorperiod | |||
| 2024NEVChassisStructuralPartsTechnologyReformProject | 4,000,000.00 | 33,333.33 | Assetrelated | |
| HunanXiangtanAutoPartsIndustrialBaseProject | 15,500,279.00 | 811,521.95 | 753,423.59 | Assetrelated |
| TuopuNEVLightweightChassisSystemandInteriorSoundInsulationPartsSystemProductionBaseProject | 57,600,000.00 | 5,760,000.00 | Assetrelated | |
| Digitalworkshopoflightweightchassissystemfornewenergypassengercars | 5,100,000.00 | 297,500.00 | Assetrelated | |
| IncentivesforDomesticEquipmentRenewalandUpgrading | 1,000,000.00 | 99,999.96 | Assetrelated | |
| TuopuChassisAutoPartsIndustrialBaseProject | 16,000,000.00 | 329,378.52 | 329,378.52 | Assetrelated |
| TechnologicalTransformationProjectforLightweightAutomobileChassisSystemProductionLinewithanAnnualCapacityof100,000Sets | 4,386,700.00 | 438,669.96 | 438,669.96 | Assetrelated |
| Productionlinetechnologyreformprojectwithanannualoutputof160,000setsofautomotiveinteriorfunctionalparts | 300,000.00 | 21,052.64 | Assetrelated | |
| Productionlinetechnologyreformprojectwithanannualoutputof150,000setsofnewenergyautomobilechassisparts | 3,492,000.00 | 254,600.00 | Assetrelated | |
| Itemspresentedinthebalancesheet | Amountsofgovernmentgrants | Amountsincludedinprofitorlossfortheperiodoroffsetagainstrelatedcostandexpenselosses | Itemsincludedinprofitorlossfortheperiodoroffsetagainstrelatedcostandexpenselosses | |
| Amountincurrentperiod | Amountinpriorperiod | |||
| RelatedAutoPartsProductionLineProjectwithanAnnualCapacityof300,000sets | 1,110,000.00 | 78,814.82 | 86,798.28 | Assetrelated |
| AutomobileChassisComponentsProjectwithanAnnualCapacityof500,000sets | 5,032,438.00 | 103,229.50 | 103,229.50 | Assetrelated |
| ProductionLineProjectforPassengerCarChassisSuspensionRelatedPartswithanAnnualCapacityof500,000sets | 2,539,990.00 | 326,052.96 | 326,052.96 | Assetrelated |
| Technologicaltransformationprojectforautomobilesuspensionchassisproductionlinewithanannualcapacityof500,000sets | 3,541,300.00 | 412,001.76 | 412,001.76 | Assetrelated |
| Technologicaltransformationprojectforautomobilefrontandrearaxleproductionlinewithanannualcapacityof200,000sets | 3,056,045.00 | 378,110.80 | 378,110.76 | Assetrelated |
| Technologicaltransformationprojectforautomobilesuspensionchassisproductionlinewithanannualcapacityof300,000sets | 2,582,045.00 | 289,187.59 | 289,187.22 | Assetrelated |
| PinghuTuopuAutoPartsProductionProject | 14,470,000.00 | 795,850.00 | 795,850.00 | Assetrelated |
| AutomotiveInteriorTrimPartsRelocationProjectwithanAnnualOutputof300,000Sets | 965,300.00 | 110,593.80 | 110,593.80 | Assetrelated |
| LightweightSuspensionSystemTechnologyReformProjectwithanAnnual | 5,188,000.00 | 1,245,183.33 | Assetrelated | |
| Itemspresentedinthebalancesheet | Amountsofgovernmentgrants | Amountsincludedinprofitorlossfortheperiodoroffsetagainstrelatedcostandexpenselosses | Itemsincludedinprofitorlossfortheperiodoroffsetagainstrelatedcostandexpenselosses | |
| Amountincurrentperiod | Amountinpriorperiod | |||
| Outputof350,000Sets | ||||
| NEVBatteryBracketTechnicalUpgradingProjectwithanAnnualOutputof200,000Sets | 5,600,000.00 | 326,666.67 | Assetrelated | |
| AutomobileFabricProductionLineProject | 4,104,000.00 | 533,032.78 | 533,032.78 | Assetrelated |
| IntelligentFactoryConstructionProjectforAutomobileInteriorTrimPartswithanannualcapacityof2millionsets | 1,100,000.00 | 110,000.00 | 110,000.00 | Assetrelated |
| TechnologicaltransformationprojectforAutoRoofandCarpetAssemblySeriesInteriorTrimPartswithanannualcapacityof1.6millionsets | 1,650,000.00 | 165,000.00 | 165,000.00 | Assetrelated |
| LiudongNewAreaAutoPartsProductionProject | 1,510,000.00 | 84,279.16 | 84,279.07 | Assetrelated |
| FactoryOutdoorSupportingEngineeringProject | 7,000,011.00 | 393,046.46 | 393,046.46 | Assetrelated |
| ShenyangTuopuAutoPartsBaseProject | 2,000,000.00 | Assetrelated | ||
| SubsidiesfortheSecondBatchofIntelligentManufacturingProjectsinBeilunDistrictin2023byBeilunDistrictEconomyandInformationBureau | 5,300,000.00 | 106,711.44 | 80,033.58 | Assetrelated |
| TuopuAnhuilandsubsidies | 6,000,000.00 | 293,560.48 | 50,847.45 | Assetrelated |
| Total | 559,791,236.00 | 45,493,777.47 | 35,415,808.26 | |
Governmentgrantsrelatedtoincome
Unit:YuanCurrency:RMB
| Itemsrecognizedinprofitorlossoroffsettingrelatedcostandexpenselosses | Amountofgovernmentsubsidies | Amountrecognizedinprofitorlossoroffsettingrelatedcostandexpenselosses | |
| Amountincurrentperiod | Amountinpriorperiod | ||
| Itemsrecognizedinprofitorlossoroffsettingrelatedcostandexpenselosses | Amountofgovernmentsubsidies | Amountrecognizedinprofitorlossoroffsettingrelatedcostandexpenselosses | |
| Amountincurrentperiod | Amountinpriorperiod | ||
| Industrialspecialfundsubsidies | 6,090,000.00 | 6,090,000.00 | 1,804,500.00 |
| Outputvalueuptothestandard | 1,278,000.00 | 1,278,000.00 | 950,000.00 |
| Subsidiesforrecruitmentoftalents | 1,271,468.62 | 1,271,468.62 | 1,119,299.00 |
| Rewardforreceivinggovernmentrefinancingincentive | 1,000,000.00 | ||
| Subsidiesforjobstabilization | 3,681,622.28 | 3,681,622.28 | 1,248,201.30 |
| One-timejobexpansionsubsidy | 201,000.00 | 201,000.00 | 270,640.88 |
| Enterprisecultivationincentive | 4,200.00 | 4,200.00 | 300,000.00 |
| Post-subsidyforenterpriseR&Dinvestment | 3,852,028.00 | 3,852,028.00 | 8,254,200.00 |
| Subsidiesfornewlyestablishedenterprisesinthemanufacturingindustry | 580,000.00 | 580,000.00 | 50,000.00 |
| Subsidiesforupgradingin2022 | 100,000.00 | ||
| Governmentincentivesubsidies | 4,640,786.00 | 4,640,786.00 | 16,971,159.94 |
| SubsidiesforkeygroupsintheAugustsignedbatch | 8,000.00 | ||
| Subsidiesfortheunemployed | 111,550.00 | ||
| Subsidyforoperationandmaintenanceofpollutionsourceself-controlsystem | 48,000.00 | 48,000.00 | 60,000.00 |
| Subsidiesforenterpriseassessment | 1,850,000.00 | 1,850,000.00 | 12,781,000.00 |
| Subsidyforgoingglobalstrategy | 112,800.00 | ||
| Greenfactorysubsidy | 200,000.00 | 200,000.00 | 300,000.00 |
| Orderreturnsubsidy | 1,173,200.00 | ||
| Supportsubsidies | 1,192,294.97 | 1,192,294.97 | 3,460,300.00 |
| Supplychainprojectincentive | 500,000.00 | ||
| Taxsubsidies | 50,750,000.00 | 50,750,000.00 | 64,043,990.48 |
| Incentivesforindustrialproductionandcapacity | 1,000,000.00 | ||
| Itemsrecognizedinprofitorlossoroffsettingrelatedcostandexpenselosses | Amountofgovernmentsubsidies | Amountrecognizedinprofitorlossoroffsettingrelatedcostandexpenselosses | |
| Amountincurrentperiod | Amountinpriorperiod | ||
| expansion | |||
| Awardforqualityinvestmentprojectsinthenewdistrictindustrialeconomy"RankList” | 800,000.00 | 800,000.00 | 450,000.00 |
| Subsidiesforpromotingenterprisedevelopment | 425,210.00 | ||
| Subsidiesforscienceandtechnologyrewards | 382,875.00 | ||
| Provincialindustrialdesigncenter | 250,000.00 | ||
| Technologysubsidies | 884,500.00 | 884,500.00 | 460,000.00 |
| Governmenteconomicconferencereward | 50,000.00 | ||
| Progresssubsidies | 580,000.00 | ||
| Electricitysubsidies | 764,916.00 | ||
| SubsidyforvocationalskillstrainingatPinghuEmploymentManagementCenter | 800.00 | ||
| BenchmarkingEnterpriseSubsidy | 20,000.00 | 20,000.00 | |
| InventionPatentSubsidy | 20,000.00 | 20,000.00 | |
| Housingrentalsubsidy | 331,840.00 | 331,840.00 | |
| High-techEnterpriseSubsidy | 420,000.00 | 420,000.00 | |
| CarPurchaseSubsidy | 320,000.00 | 320,000.00 | |
| Energyefficiencygrants | 439,108.00 | 439,108.00 | |
| ImportIncrementalSubsidy | 56,200.00 | 56,200.00 | |
| SubsidyforQualityDevelopmentofNEVs | 150,755,900.00 | 150,755,900.00 | |
| R&DInvestmentofScienceandTechnologyBureau | 306,400.00 | 306,400.00 | |
| GovernmentSubsidyforEnterpriseCertificationofNationalIntegrationofInformatizationandIndustrializationManagementSystem | 150,000.00 | 150,000.00 | |
| SocialSecuritySubsidy | 121,299.59 | 121,299.59 | |
| ProvincialContingencyFundsforIndustrial | 19,748.00 | 19,748.00 | |
| Itemsrecognizedinprofitorlossoroffsettingrelatedcostandexpenselosses | Amountofgovernmentsubsidies | Amountrecognizedinprofitorlossoroffsettingrelatedcostandexpenselosses | |
| Amountincurrentperiod | Amountinpriorperiod | ||
| Development | |||
| Statisticsfunding | 12,000.00 | 12,000.00 | |
| Bonusfordynamicentryofhigh-qualitydevelopmentinYuchi | 10,000.00 | 10,000.00 | |
| Total | 230,306,395.46 | 230,306,395.46 | 118,982,642.60 |
XI.Risksrelatedtofinancialinstruments
1.Risksrelatedtofinancialinstruments
√Applicable□Non-applicableTheCompanyfacesvariousfinancialrisksinthecourseofitsoperations:creditrisk,liquidityriskandmarketrisk(includingexchangeraterisk,interestrateriskandotherpricerisks).ThesaidfinancialrisksandtheriskmanagementpoliciesadoptedbytheCompanytoreducetheserisksaredescribedbelow:
TheBoardofDirectorsisresponsibleforplanningandestablishingtheriskmanagementstructureapplicabletotheCompany,layingdowntheriskmanagementpoliciesandguidelines,andsupervisingtheimplementationofriskmanagementmeasures.TheCompanyhaslaiddownsomeriskmanagementpoliciestoidentifyandanalyzetherisksexposedtoit.Theseriskmanagementpoliciesclearlyidentifyspecificrisks,rangingfrommarketrisk,creditrisktoliquidityriskmanagement.TheCompanyassessesthemarketenvironmentandchangesinitsbusinessactivitiesatregularintervalsinordertodecidewhethertoupdatetheriskmanagementpolicyandsystemornot.ItsriskmanagementiscarriedoutbytheRiskManagementCommitteeinaccordancewiththepoliciesapprovedbytheBoardofDirectors.RiskManagementCommitteewillidentify,evaluateandavoidrelatedrisksbymaintainingaclosecooperationwithotherbusinessunitswithintheCompany.Theinternalauditdivisionconductsregularauditsonriskmanagementcontrolandprocedures,andreportstheauditresultstotheAuditingCommitteeoftheCompany.
TheCompanycarriesoutthediversificationofrisksinfinancialinstrumentsthroughappropriatediversifiedinvestmentandbusinessportfolios,andpreparesappropriateriskmanagementpoliciestoreducetheriskconcentratedinasingleindustry,specificregionorspecificcounterparty.
1.CreditriskCreditriskreferstotheriskofthecompany'sfinanciallossesduetothefailureofthecounterpartytoperformitscontractualobligations.ThecreditriskexposedtotheCompanymainlyarisesfrommonetaryfunds,notesreceivable,accountsreceivable,accountsreceivablefinancing,otherreceivables,aswellasthosedebtinstrumentinvestmentsandderivativefinancialassetsthatarenotincludedinthescopeofimpairmentassessmentandaremeasuredatfairvalueandwhosechangesareincludedinthecurrentprofitandloss.Onthebalancesheetdate,thebookvalueoftheCompany'sfinancialassetshasrepresenteditsmaximumcreditriskexposure.
ThemonetaryfundsownedbytheCompanyaremainlybankdepositsdepositedinwell-reputatedstate-ownedbankswithhighcreditratingsandotherlargeandmedium-sizedlistedbanks.IntheopinionoftheCompany,thereisnosignificantcreditrisk,andtherewillbealmostnocriticallosscausedbybankdefaults.TheCompanylaysdownrelevantpoliciestocontrolcreditriskexposureinrespectofnotesreceivable,accountsreceivable,financingreceivablesandotherreceivables.TheCompanyassessesthe
creditprofileofeachcustomeranddefinesthecredittermbasedonitsfinancialstanding,thepossibilityofobtainingguaranteesfromathirdparty,creditrecordandotherfactorssuchascurrentmarketcondition.TheCompanywillmonitorthecreditrecordofeachcustomeratregularintervals.Forthosefoundwithpoorcreditrecord,theCompanywillmaintainitsoverallcreditrisktotheextentcontrollablebywrittendemand,shorteningorcancellationofcreditterm.
2.LiquidityriskLiquidityriskreferstotheriskofashortageoffundswhenanenterprisefulfillsitsobligationofsettlementbycashorotherfinancialassets.
TheCompany'spolicyistoensurethatthereissufficientcashtorepaytheliabilitiesdue.TheliquidityriskisundertheconcentratedcontroloftheCompany'sFinancialDepartment.Throughmonitoringthebalanceofcashandsecuritiescashableatanytimeandrollingforecastingthecashflowinthenext12months,theFinancialDepartmentensuresthattheCompanyhassufficientfundstorepayitsdebtsunderallreasonablepredictions.AnditwillcontinuetomonitorwhethertheCompanycomplieswiththeprovisionsoftheborrowingagreementandobtainscommitmentsfrommajorfinancialinstitutionstoprovidesufficientreservefundstomeetitsfundingneeds,whethershorttermorlongterm.
3.MarketriskThemarketriskoffinancialinstrumentsreferstotheriskoffluctuationatfairvalueoffinancialinstrumentsorfuturecashflowswiththechangeofmarketprices,includingexchangeraterisk,interestrateriskandotherpricerisks.
(1)Interestraterisk
Theinterestrateriskreferstotheriskinwhichthefairvalueorfuturecashflowoffinancialinstrumentschangesduetothechangeofmarketinterestrate.Interest-bearingfinancialinstrumentsapplicabletofixedinterestratesandfloatinginterestratesbringtheCompanyuptofairvalueinterestrateriskandcashflowinterestrateriskrespectively.TheCompanyascertainstheratiooffixedinterestratestofloatinginterestrateinstrumentsbasedonthemarketenvironment,andmaintainsanappropriateportfoliooffixedandfloatinginterestrateinstrumentsatregularintervals.Ifnecessary,theCompanywilladoptinterestrateswapinstrumentstohedgeinterestraterisk.
OnDecember31,2024,ifothervariablesremainthesame,theborrowinginterestratecalculatedbyfloatinginterestraterisesorfallsby100basepoints,theCompany'snetprofitwilldecreaseorincreasebyRMB42,886,706.74.Intheopinionofthemanagement,100basepointscanreasonablyreflectthereasonablerangeofpossiblechangesininterestratesinthenextyear.
(2)Exchangeraterisk
Exchangerateriskreferstotheriskthatthefairvalueoffinancialinstrumentsorfuturecashflowswillfluctuateduetochangesinforeignexchangerates.
TheCompanywilltryitsbesttomatchtherevenueswiththeexpensesinforeigncurrency,tolowertheexchangeraterisk.Inaddition,theCompanymayalsosignforwardforeignexchangecontractsorcurrencyswapcontractstoavoidexchangeraterisks.Inthecurrentperiodandthepreviousperiod,thecompanydidnotsignanyforwardforeignexchangecontractsorcurrencyswapcontracts.
TheexchangerateriskfacedwithbytheCompanyismainlyfromfinancialassetsandliabilitiesinUSD.TheamountsofassetsandliabilitiesinforeigncurrenciesandconvertedintoRMBarepresentedasbelow:
| Item | Balanceattheendoftheperiod | BalanceattheEndofLastYear | ||||
| USdollars | Otherforeigncurrencies | Total | USdollars | Otherforeigncurrencies | Total | |
| Cashand | 151,034,970.51 | 731,494,352.01 | 882,529,322.52 | 272,871,157.38 | 179,132,342.92 | 452,003,500.30 |
| Item | Balanceattheendoftheperiod | BalanceattheEndofLastYear | ||||
| USdollars | Otherforeigncurrencies | Total | USdollars | Otherforeigncurrencies | Total | |
| bankbalances | ||||||
| Accountsreceivable | 530,023,415.72 | 477,340,749.18 | 1,007,364,164.90 | 530,455,755.57 | 411,937,700.49 | 942,393,456.06 |
| OtherReceivables | 26,340,419.76 | 27,951,493.81 | 54,291,913.57 | 17,549,238.97 | 13,482,218.12 | 31,031,457.09 |
| Accountspayable | 78,335,295.35 | 119,741,542.45 | 198,076,837.80 | 62,456,222.83 | 113,998,603.33 | 176,454,826.16 |
| OtherPayables | 195,563.37 | 553,530.15 | 749,093.52 | 555,541.92 | 428,818.53 | 984,360.45 |
| Total | 785,929,664.71 | 1,357,081,667.60 | 2,143,011,332.31 | 883,887,916.67 | 718,979,683.39 | 1,602,867,600.06 |
OnDecember31,2024,ifallothervariablesremainthesame,iftheexchangerateofRMBagainstanyofforeigncurrencies(principallyUSD,Euro,CAD,BRL,MYR,SEK,PLN)appreciatesordepreciatesby5%,theCompanywillIncreaseordecreasethenetprofitbyRMB87,267,973.48.Intheopinionofthemanagement,5%canreasonablyreflectthereasonablerangeofpossiblechangesintheexchangerateofRMBagainstUSDinthenextyear.
(3)OtherpricerisksOtherpriceriskreferstotheriskthatthefairvalueorfuturecashflowoffinancialinstrumentswillfluctuateduetochangesinmarketpricesotherthanexchangerateriskandinterestraterisk.
OtherpricerisksexposedtotheCompanymainlyarisefrominvestmentsinvariousequityinstruments,andthereisariskofchangesinthepriceofequityinstruments.
2.Hedging
(1)Thecompanyconductshedgingbusinessforriskmanagement
□Applicable√NotapplicableOthernotes：
□Applicable√Notapplicable
(2)TheCompanyconductseligiblehedgingoperationsandapplieshedgeaccounting
□Applicable√NotapplicableOthernotes：
□Applicable√Notapplicable
(3)Thecompanyconductshedgingbusinessforriskmanagementandexpectstoachievetherisk
managementobjectives,butdoesnotapplyhedgeaccounting.
□Applicable√Notapplicable
Othernotes：
□Applicable√Notapplicable
3.Transferoffinancialassets
(1)Classificationoftransfermethods
√Applicable□Notapplicable
Unit:YuanCurrency:RMB
| Modeoftransfer | Natureoffinancialassetstransferred | Amountoffinancialassetstransferred | Derecognitionoffinancialassets | Judgmentbasisforderecognition |
| Endorsement | Outstandingbankacceptancenotesinreceivablesfinancing | 2,211,234,460.82 | Derecognition | Sincethecreditriskanddeferredpaymentriskofbankers'acceptancesinreceivablesfinancingaresmall,andtheinterestrateriskrelatedtothenoteshasbeentransferredtothebank,itcanbejudgedthatthemajorrisksandrewardsoftitleofthenoteshavebeentransferred,sotheyarederecognized. |
| Total | / | 2,211,234,460.82 | / | / |
(2)Financialassetsderecognizedduetotransfer
√Applicable□Notapplicable
Unit:YuanCurrency:RMB
| Item | Modeoftransferoffinancialassets | Amountoffinancialassetsderecognized | Gainorlossrelatedtoderecognition |
| Accountsreceivablefinancing | Endorsement | 2,211,234,460.82 | |
| Total | / | 2,211,234,460.82 |
(3)Transferredfinancialassetswithcontinuinginvolvement
□Applicable√NotapplicableOthernotes
□Applicable√NotapplicableXII.DisclosureofFairValues
1.Fairvaluesoftheassetsandliabilitiesattheendoftheperiod
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Fairvalueattheendoftheperiod | |||
| Fairvaluemeasurementatthefirst-level | Fairvaluemeasurementatthesecond-level | Fairvaluemeasurementatthethird-level | Total | |
| I.Constantmeasurementatfairvalue | ||||
| (I)TradingFinancialAssets | 1,050,000,000.00 | 1,050,000,000.00 | ||
| 1.Financialassetsatfairvaluethroughprofitorlossinthisperiod | 1,050,000,000.00 | 1,050,000,000.00 | ||
| (1)Investmentindebtinstruments | ||||
| (2)Investmentinequityinstrument | ||||
| (3)DerivativeFinancialAssets | ||||
| (4)Other | 1,050,000,000.00 | 1,050,000,000.00 | ||
| 2.Designatedfinancialassetsthataremeasuredatfairvalueandwhosechangesareincludedinthecurrentprofitandloss | ||||
| (1)Investmentindebtinstruments | ||||
| (2)Investmentinequityinstrument | ||||
| (II)InvestmentinOtherCreditor'sRights | ||||
| (III)InvestmentinOtherEquityInstruments | ||||
| (IV)InvestmentProperty | ||||
| 1.Landuserightsforlease | ||||
| 2.Rentedbuildings | ||||
| 3.Landuserightsheldandpreparedtotransferafterappreciation | ||||
| (v)Biologicalassets | ||||
| 1.Expendablebiologicalassets | ||||
| 2.Productivebiologicalassets | ||||
| (VI)Receivablesfinancing | 2,659,789,309.01 | 2,659,789,309.01 | ||
| Totalassetsmeasuredatfairvalueonanongoingbasis | 3,709,789,309.01 | 3,709,789,309.01 | ||
| (VI)Financialliabilitiesheldfor | ||||
| trading |
| 1.Financialliabilitiesthataremeasuredatfairvalueandwhosechangesareincludedinthecurrentprofitandloss |
| Including:issuedtradingbonds |
| DerivativeFinancialLiabilities |
| Others |
| 2.DesignatedFinancialLiabilitiesMeasuredinFairValuewithChangesRecordedintoCurrentProfitandLoss |
| Totalamountofliabilitiesconstantlymeasuredattheirfairvalues |
| II.Non-continuousfairvaluemeasurement |
| (1)Held-for-saleassets |
| Totalassetsthatarenotcontinuouslymeasuredatfairvalue |
| Totalliabilitiesnotcontinuouslymeasuredatfairvalue |
2.Determinationbasisforthemarketpriceofcontinuousandnon-continuousfirst-levelfairvaluemeasurementprojects
□Applicable√Non-applicable
3.Qualitativeandquantitativeinformationonthevaluationtechniquesusedandimportantparametersforcontinuousandnon-continuoussecond-levelfairvaluemeasurementitems
□Applicable√Non-applicable
4.Continuousandnon-sustainablethird-levelfairvaluemeasurementprojects,qualitativeandquantitativeinformationonvaluationtechniquesandimportantparametersused
√Applicable□Non-applicable
1.Forbankfinancialproductsincludedintradingfinancialassets,theCompanyusestheexpectedrateofreturntoforecastfuturecashflows,theunobservableestimateistheexpectedrateofreturn,andthefairvalueisdeterminedattheendoftheperiodbasedontheamountthatisexpectedtoberecoveredwithahighprobability.
2.Forreceivablesfinancing,theCompanydeterminesthefairvalueofthepromissorynotesattheendoftheperiodbasedonthefaceamount,consideringthesmalldifferencebetweenthefaceamountandthefairvalue.
5.Continuousthird-levelfairvaluemeasurementitems,adjustmentinformationbetweenthebookvalueatthebeginningoftheperiodandthatattheendoftheperiodandsensitivityanalysisofunobservableparameters
□Applicable√Non-applicable
6.Continuousfairvaluemeasurementitems,ifthereisaconversionbetweenlevelsoccurredinthecurrentperiod,thereasonsfortheconversionandthepoliciesfordeterminingthetimepointoftheconversion
□Applicable√Non-applicable
7.Changesinvaluationtechniqueinthecurrentperiodandreasonsforthechanges
□Applicable√Non-applicable
8.Thefairvalueoffinancialassetsandfinancialliabilitiesnotmeasuredatfairvalue
√Applicable□Non-applicable
TheCompany'sfinancialassetsandfinancialliabilitiesthataremeasuredatamortizedcostconsistmainlyofcashfunds,notesreceivable,accountsreceivable,otherreceivables,short-termborrowings,notespayable,accountspayable,otherpayables,non-currentliabilitiesduewithinoneyear,long-termborrowingsandbondspayable.ThedifferencesbetweenthecarryingamountsandfairvaluesoftheCompany'sfinancialassetsandliabilitiesnotmeasuredatfairvaluewereminimalandarenotdisclosedindetail.
9.Others
□Applicable√Non-applicableXIII.RelatedPartiesandRelated-partyTransactions
1.Conditionoftheparentcompany
√Applicable□Non-applicable
Unit：YuanCurrency：HKD
| Nameofparentcompany | Registeredaddress | Natureofbusiness | Registeredcapital | PercentageoftheCompany’ssharesheldbytheparentcompany(%) | PercentageoftheCompany’svotingrightsheldbytheparentcompany(%) |
| MECCAINTERNATIONALHOLDING（HK）LIMITED | HongKong | Investment | 1,000,000.00 | 59.66 | 59.66 |
TheultimatecontrollingpartyoftheCompanyisWuJianshu.
2.SubsidiariesoftheCompanyMoredetailsofthesubsidiariesoftheCompanyareavailableinthenotes.
√Applicable□Non-applicableFordetailsoftheCompany'ssubsidiaries,referto"X.Equityinotherentities"inthesenotes.
3.JointventuresandassociatesoftheCompanyMoredetailsoftheimportantjointventuresandassociatesoftheCompanyareavailableinthenote.
√Applicable□Non-applicableFordetailsoftheCompany'ssubsidiaries,referto"X.Equityinotherentities"inthesenotes.ThesituationofotherjointventuresorassociatesthathaverelatedpartytransactionswiththecompanyduringthecurrentperiodorthebalanceoftherelatedpartytransactionswiththeCompanyinthepreviousperiodislistedasfollows.
□Applicable√Non-applicableOthernotes
□Applicable√Non-applicable
4.Otherrelatedparties
√Applicable□Non-applicable
| NameofOtherRelatedParty | RelationshipbetweenOtherRelatedPartyandtheCompany |
| NinghaiJinsuoerAutoPartsCo.,Ltd.(Note1) | AcompanycontrolledbythenieceoftheactualcontrolleroftheCompany |
| NinghaiSaipuRubberandPlasticPartsFactory(Note1) | AcompanycontrolledbythenieceoftheactualcontrolleroftheCompany |
| NinghaiJinxinPackagingCo.,Ltd. | AcompanycontrolledbytheyoungsisteroftheactualcontrolleroftheCompany |
| NinghaiZhonghaoPlasticProductsCo.,Ltd. | Anofficer’sbrother-in-lawholds40%ofthesharesandservesasanexecutivedirectorofthecompany |
| NinghaiXidianQingqingPlasticFactory | Acompanycontrolledbytheeldersisterandbrother-in-lawoftheofficeroftheCompany |
| NingboHongkeAutoPartsCo.,Ltd.(Note1) | Acompanycontrolledbytheniece’shusbandoftheactualcontrolleroftheCompany |
| NingboGloyelIntelligentTechnologyCo.Ltd. | OthercompanycontrolledbytheactualcontrolleroftheCompany |
| NingboGloyelMotorTechnologyCo.,Ltd. | OthercompanycontrolledbytheactualcontrolleroftheCompany |
| GloyelElectric(Ningbo)Co.,Ltd. | OthercompanycontrolledbytheactualcontrolleroftheCompany |
| NingboGloyelNewEnergyTechnologyCo.,Ltd. | OthercompanycontrolledbytheactualcontrolleroftheCompany |
| NingboBorgersTuopuAutomobilePartsCo.,Ltd.(Note2) | Jointventure |
AdditionalNotes:
Note1:NinghaiJinsuoerAutoPartsCo.,Ltd.,NinghaiSaipuRubberandPlasticPartsFactory,andNingboHongkeAutoPartsCo.,LtdarecontrolledbytheniecesandnephewsofMr.WuJianshu,theactualcontrolleroftheCompany.Accordingtothedefinitionofconnectedpersonsforlistedcompaniesasoutlinedinsection6.3.3oftheRulesGoverningtheListingofStocksontheShanghaiStockExchange(revisedinAugust2023),theseentitiesdonotqualifyasconnectedpersonsoftheTuopuGroup.TheirroutinetransactionswiththeTuopuGrouparenotclassifiedasconnectedtransactions,andtheirtotalbusinessvolumerepresentsarelativelyminorpercentageoftheCompany'srevenue.Beginningin2024,theCompanywillceasetorecognizethesethreeentitiesasrelatedparties,andfutureregularreports,announcementsregardingdailyconnectedtransactions,andotherdocumentationwillnolongerincludedetailsabouttheamountsandbalancesoftransactionswiththem.
Note2:InJanuary2024,theCompanyenteredintoanEquityTransferAgreementwithJohannBorgersGmbH('Borgers'),theforeignstakeholderofthejointventureNingboBorgersTuopuAutomobilePartsCo.,Ltd.('Borgers').Underthisagreement,theCompanyplanstotransfera50%equitystakeinNingboBorgers,whichisheldbyBorgers,foracashpaymentofEUR2,450,000.00.ThenecessaryindustrialandcommercialmodificationsforNingboBorgerswerefinalizedinFebruary2024,andtheCompanymadetheequitytransferpaymentonApril25,2024,therebycompletingtheacquisitiononthesamedate.Consequently,NingboBorgersTuopuAutomobilePartsCo.,Ltd.wasclassifiedasajointventureoftheCompanyfromJanuarytoApril2024asindicatedintheaforementionedtable.
5.Relatedpartytransactions
(1).Purchaseandsaleofgoods,provisionandacceptanceoflaborrelatedtransactionsPurchaseofgoods/acceptanceoflabor
√Applicable□Notapplicable
Unit:YuanCurrency:RMB
| Relatedparty | Related-partytransaction | Amountincurredinthecurrentperiod | Approvedtransactionlimit(ifapplicable) | Whetherthetransactionlimitisexceeded(ifapplicable) | Amountincurredinpreviousperiod |
| TuopuElectricalAppliancesCo.,Ltd. | Material | 625,413.19 | 700,000.00 | No | 354,655.74 |
| NingboBorgersTuopuAutomobilePartsCo.,Ltd. | Material | 569,441.83 | 5,000,000.00 | No | 12,015,360.64 |
| NinghaiJinxinPackagingCo.,Ltd. | Material | 17,139,923.08 | 20,000,000.00 | No | 17,971,016.78 |
| NinghaiZhonghaoPlasticProductsCo.,Ltd. | Material | 30,470,694.18 | 32,000,000.00 | No | 21,700,109.25 |
| NinghaiXidianQingqingPlasticFactory | Material | 7,919,514.41 | 7,000,000.00 | Yes | 5,676,089.47 |
| NingboGloyelIntelligentTechnologyCo.Ltd. | Equipment | 121,657,689.25 | 120,000,000.00 | Yes | 42,785,724.15 |
| NingboGloyelMotorTechnologyCo.,Ltd. | Material,laborservices,etal. | 81,355,664.61 | 85,000,000.00 | No | 37,384,794.59 |
| GloyelElectric(Ningbo)Co.,Ltd. | Material,laborservices,etal. | 5,719,305.59 | 6,000,000.00 | No | 4,747,234.44 |
| NingboGloyelNewEnergyTechnologyCo.,Ltd. | Material,laborservices,etal. | 4,513,060.17 | 6,000,000.00 | No |
Listofsaleofgoods/renderingoflaborservices
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Relatedparty | Contentofrelatedtransaction | Amountincurredinthecurrentperiod | Amountincurredinpreviousperiod |
| TuopuElectricalAppliancesCo.,Ltd. | Goods,laborservices,etal. | 4,832,633.33 | 5,264,588.45 |
| NingboBorgersTuopuAutomobilePartsCo.,Ltd. | Goods,laborservices,etal. | 22,874,395.34 | 135,889,811.34 |
| NingboGloyelMotorTechnologyCo.,Ltd. | Goods | 1,338,213.40 | 1,359,110.64 |
Notestorelated-partytransactionsinthepurchaseandsaleofgoods,renderingandacceptanceoflaborservices
□Applicable√Non-applicable
(2).Relatedtrusteeshipmanagement/contractingandentrustedmanagement/outsourcingListoftrusteeshipmanagement/contractingoftheCompany:
□Applicable√Non-applicableRelatedtrusteeship/contracting
□Applicable√Non-applicableListofentrustedmanagement/outsourcing
□Applicable√Non-applicableRelatedmanagement/outsourcing
□Applicable√Non-applicable
(3).RelatedleasesTheCompanyaslessor:
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Nameoftenant | Kindofleaseassets | Rentalincomerecognizedinthecurrentperiod | Rentalincomerecognizedinpreviousperiod |
| NingboBorgersTuopuAutomobilePartsCo.,Ltd. | Housesandstructures | 846,238.53 | |
| NingboGloyelElectricMotorTechnologyCo.,Ltd. | Housesandstructures | 198,165.14 | 198,165.14 |
| NingboGloyelIntelligentTechnologyCo.Ltd. | Housesandstructures | 308,715.60 | 346,977.93 |
TheCompanyaslessee:
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Nameoftenant | Kindofleaseassets | Simplifiedtreatmentofrentalexpensesforshort-termleasesandleasesoflow-valueassets(ifapplicable) | Variableleasepaymentsnotincludedinthemeasurementoftheleaseliability(ifapplicable) | Rentpaid | Interestexpenseonleaseliabilityassumed | Increasedright-of-useassets | |||||
| Amountincurredinthecurrentperiod | Amountincurredinpreviousperiod | Amountincurredinthecurrentperiod | Amountincurredinpreviousperiod | Amountincurredinthecurrentperiod | Amountincurredinpreviousperiod | Amountincurredinthecurrentperiod | Amountincurredinpreviousperiod | Amountincurredinthecurrentperiod | Amountincurredinpreviousperiod | ||
| GloyelElectric(Ningbo)Co.,Ltd. | Housesandstructures | 3,129,489.91 | 3,129,489.91 | 1,184,771.24 | 141,910.04 | 363,373.85 | 8,651,758.24 | ||||
Affiliatedleases
□Applicable√Non-applicable
(4).RelatedguaranteesTheCompanyasguarantor
√Applicable□Non-applicable
Unit：in10,000YuanCurrency：RMB
| Guaranteedparty | Guaranteedamount | From | Until | Whethertheguaranteehasbeenfulfilled |
| TuopuPoland | 5,417.44 | RefertoNote(1) | RefertoNote(1) | No |
| TuopuMexico | 10,276.00 | 2023-11-1 | 2030-10-31 | No |
| TuopuMexico | 26,995.96 | 2023-11-15 | 2034-1-14 | No |
| TuopuMexico | 3,967.95 | 2024-2-6 | 2029-7-15 | No |
TheCompanyasguaranteedparty
□Applicable√Non-applicableNotestorelatedguarantees
√Applicable□Non-applicable
(1)ForsmoothconductofbusinessoperationsinEurope,TuopuPolandsp.z.o.o,("TuopuPoland")isawholly-ownedsubsidiaryestablishedbyTuopuGroupinPolandinMarch2021.Itleases7RPROJEKT35Sp.z.o.o("7RProjectCompany"),customizedindustrialplantsinPoland(includingofficeareas,productionareasandwarehouses).Accordingtobusinesspracticeandactualneeds,theCompanyprovidedperformancebondforthesaidleaseagreement,andauthorizedthechairmanorauthorizedrepresentativetosigntherelevantguarantee.Thetotalliabilityoftheletterofguaranteemustnotexceed7millioneuros(aboutRMB54.1744million),andthematurityperiodcoverstheentiretermofthesaidleaseagreementandfivemonthsafteritsexpirationortermination,butnolaterthanAugust1,2029.
(2)InordertoexpanditsbusinessinNorthAmerica,TUOPUGROUPMEXICO,S.deR.L.deC.V("TuopuMexico"),asubsidiaryoftheCompany,hashiredDavidWolbergPeia,ArmandoArturoGonzálezGutiérrez,anaturalperson,andAlbertoGonzálezGutiérrez,AdriánGonzálezGutiérrez,anaturalperson,ArturoGonzálezGutiérrez,AlbertoGonzálezGutiérrezandAdriánGonzálezGutiérrez,naturalpersons(hereinaftercollectivelyreferredtoasthe"Lessors"),andhasconcludedanagreementwiththelegalrepresentativesofthefiveaforementionedco-owners.AleaseagreementhasbeensignedwithIrmaGarzaIta,thelegalrepresentativeofthefiveco-ownersmentionedabove.TheagreementprovidesformonthlyrentpaymentsbeginningonNovember1,2023andendingafter84months(i.e.,October31,2030).Inviewofthebusinesspracticeandpracticalneeds,theCompanyprovidedguaranteefortherentagreedinthesaidleaseagreementandauthorizedtheChairmanoftheBoardofDirectorsorhisauthorizedrepresentativetosigntheguarantee.ThetotalliabilityoftheguaranteewillnotexceedUSD14million(approximatelyRMB102.76million)andthevalidityperiodoftheguaranteecoverstheentirevalidityperiodofthesaidleaseagreement.
(3)InordertocontinuetoexpanditsbusinessinNorthAmerica,TuopuMexico,asubsidiaryoftheCompany,leasedanindustrialbuildinglocatedintheStateofNuevoLeón,Mexico(hereinafterreferredtoasthe"PhaseIIBuilding")toBANCOACTINVE,S.A.INSTITUCI?NDEBANCAMULTIPLE,GRUPOFINANCIEROACTINVER,COMOFIDUCIARIODELFIDEICOMISOF/1401,alessor,foruseasthesecondphaseofTuopuMexico'splantforautomotiveparts.1401leaseditsindustrialbuildinglocatedinNuevoLeon,MexicoasthesecondphaseoftheTuopuMexicoPlant(hereinafterreferredtoasthe"secondphase")fortheproductionofautomotivepartsandenteredintoaleaseagreementwithitforatermcommencingonNovember15,2023andendingonJanuary14,2034,whichisexpectedtobecompletedbytheendoftheleaseterm.Inviewofthebusinesspracticeandpracticalneeds,TuopuUSA,LLC,awholly-ownedsubsidiaryoftheCompany,hasprovidedaguaranteefortherentalandrelatedtaxesagreedintheaforesaidleaseagreement,withthetotalguaranteeliabilitynotexceedingUSD35million(approximatelyRMB248,335,500),andthevalidityperiodoftheguaranteewillcovertheentirevalidityperiodoftheaforesaidleaseagreement.Atthesametime,theBoardagreedthattheCompanyshalldelivertotheLessorastandbyletterofcreditissuedbyacommercialbanktosecuretheleaseofthePhaseIIPlant,withastandbyletterofcreditintheamountofUSD3,047,669.86(approximatelyRMB21,624,131.96),whichisequivalenttothefirstyear'srentof
thePhaseIIPlant(includingrelevanttaxes).ThetotalamountoftheaboveguaranteesisUSD38,047,669.86(approximatelyRMB269,959,631.96).
(4)TofacilitateitsbusinessexpansioninNorthAmerica,TUOPUGROUPMEXICO,S.deR.L.deC.V(“TuopuMexico”),asubsidiaryoftheCompany,hasenteredintoaleaseagreementforanindustrialfacilitysituatedinNuevoLeón,Mexico,withthelessor,BancoMonex,S.A.,I.B.M.,MonexGrupoFinanciero,actingasTrusteeofTrustF/3485.Thisfacilitywillserveasanautomotivetrimplant(“AutomotiveTrimPlant”)fortheproductionofautomotivepartsattheTuopuMexicofacility.Theleaseagreement,executedon6February2024,spansadurationoffiveyears.Inalignmentwithbusinesspracticesandoperationalrequirements,theBoardofDirectorshasresolvedthattheCompanywillissuestandbylettersofcredittoguaranteetherentalobligationsstipulatedintheaforementionedlease.ThetotalvalueofthetwostandbylettersofcreditamountstoUSD5,582,293.2(approximatelyRMB39,679,480.77),covering24monthsofrentexclusiveoftax.Thecontractiseffectivefrom6February2024until15July2029.
(5).Borrowedfundsfromrelatedparties
□Applicable√Non-applicable
(6).Assettransferanddebtrestructuringofrelatedparties
□Applicable√Non-applicable
(7).Remunerationofkeymanagementmembers
√Applicable□Non-applicable
Unit：in10,000YuanCurrency：RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinpreviousperiod |
| Remunerationfromkeymanagementmembers | 2,332.37 | 2,116.55 |
(8).Otherrelated-partytransactions
□Applicable√Non-applicable
6.Accountsreceivableandpayableofrelatedparties
(1).Itemsofreceivable
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Relatedparty | Balanceattheendoftheperiod | Balanceatthebeginningoftheperiod | ||
| Bookbalance | Baddebtprovision | Bookbalance | Baddebtprovision | ||
| Accountsreceivable | TuopuElectricalAppliancesCo.,Ltd. | 2,273,174.26 | 113,658.71 | 2,828,883.09 | 141,444.15 |
| Accountsreceivable | NingboGloyelIntelligentTechnologyCo.Ltd. | 174,444.63 | 8,722.23 | ||
| Accountsreceivable | NingboBorgersTuopu | 40,000,051.53 | 2,000,002.58 | ||
| AutomobilePartsCo.,Ltd. | ||||
| Accountsreceivable | NingboGloyelMotorTechnologyCo.,Ltd. | 906,409.46 | 45,320.47 | |
| Othernon-currentassets | NingboGloyelIntelligentTechnologyCo.Ltd. | 1,277,000.00 | 2,387,197.00 | |
| Othernon-currentassets | NingboGloyelElectric(Ningbo)Co.,Ltd. | 504,065.41 |
(2).Itemsofpayable
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Relatedparty | Bookbalanceattheendoftheperiod | Bookbalanceatthebeginningoftheperiod |
| Accountspayable | TuopuElectricalAppliancesCo.,Ltd. | 586,818.66 | 424,128.00 |
| Accountspayable | NingboBorgersTuopuAutomobilePartsCo.,Ltd. | 2,584,443.67 | |
| Accountspayable | NinghaiJinxinPackagingCo.,Ltd. | 5,471,650.30 | 9,204,110.32 |
| Accountspayable | NinghaiZhonghaoPlasticProductsCo.,Ltd. | 14,154,856.30 | 8,604,784.92 |
| Accountspayable | NinghaiXidianQingqingPlasticFactory | 2,838,163.42 | 2,109,134.61 |
| Accountspayable | NingboGloyelMotorTechnologyCo.,Ltd. | 17,444,441.53 | 1,025,652.12 |
| Accountspayable | NingboGloyelMotorTechnologyCo.,Ltd. | 18,858,697.28 | 9,804,836.10 |
| Accountspayable | GloyelElectric(Ningbo)Co.,Ltd. | 549,037.21 | |
| Accountspayable | NingboGloyelNewEnergyTechnologyCo.,Ltd. | 580,627.77 | |
| Leaseliabilities | GloyelElectric(Ningbo)Co.,Ltd. | 7,070,413.42 | 8,651,758.24 |
(3).Otheritems
□Applicable√Non-applicable
7.Relatedpartycommitments
□Applicable√Non-applicable
8.Others
□Applicable√Non-applicableXIV.Share-basedpayment
1.Equityinstruments
□Applicable√NotapplicableStockoptionsorotherequityinstrumentsissuedandoutstandingattheendoftheperiod
□Applicable√Notapplicable
2.Equity-settledshare-basedpayments
□Applicable√Notapplicable
3.Cash-settledshare-basedpayments
□Applicable√Notapplicable
4.Share-basedpaymentexpensesfortheperiod
□Applicable√Notapplicable
5.Modificationandterminationofshare-basedpayment
□Applicable√Notapplicable
6.Others
□Applicable√NotapplicableXV.CommitmentsandContingencies
1.Importantcommitments
√Applicable□Non-applicableImportantexternalcommitments,nature,andamountonthebalancesheetdate
(1)TheCompanyenteredintoaloancontractwiththeExport-ImportBankofChina,NingboBranchon14November2023withaloanamountofRMB400million,andtheloancontractnumberis(2023)Exit-ImportBank(YongXinHe)No.1-129.Asat31December2024thebalanceofthelong-termloanunderthiscontractwasRMB400million.On13June2024,theCompanyenteredintoaloancontractwiththeExport-ImportBankofChina,NingboBranch,withaloanamountofRMB380million,andtheloancontractNo.(2024)InwardandOutwardBanking(YongXinHe)ZiNo.1-057.Asat31December2024thebalanceofthelong-termloanunderthiscontractwasRMB379million.On13June2024,theCompanyenteredintoaloancontractwiththeExport-ImportBankofChina,NingboBranch,withaloanamountofRMB120million,andtheloancontractNo.(2024)InwardandOutwardBanking(YongXinHe)ZiNo.1-058.Asat31December2024thebalanceofthelong-termloanunderthiscontractwasRMB119million.On14November2024,theCompanyenteredintoaloancontractwiththeExport-ImportBankofChina,NingboBranchwithaloanamountofRMB150millionandaloancontractNo.(2024)InwardandOutwardBanking(NingboXinhe)ZiNo.1-149.Asat31December2024thebalanceofthelong-termloanunderthiscontractwasRMB150million.On14November2024,theCompanyenteredintoaloancontractwiththeExport-ImportBankofChina,NingboBranchwithaloanamountofRMB150millionandtheloancontractNo.(2024)InwardandOutwardBanking(NingboXinhe)ZiNo.1-150.Asat31December2024thebalanceofthelong-termloanunderthiscontractwasRMB15,000.00million.On25December2024,theCompanyenteredintoaloancontractwiththeExport-ImportBankofChina,NingboBranch,withaloanamountofRMB90millionandaloancontractNo.(2024)InwardandOutwardBanking(YongXinHe)ZiNo.1-181.Asat31December2024thebalanceofthelong-termloanunderthiscontractwasRMB90.0
million.On25December2024,theCompanyenteredintoaloancontractwiththeExport-ImportBankofChina,NingboBranchwithaloanamountofRMB210millionandaloancontractNo.(2024)InwardandOutwardBanking(NingboXinhe)ZiNo.1-182.Asat31December2024thebalanceofthelong-termloanunderthecontractwasRMB210million.Theaboveborrowingsweresecuredbymortgagesofbuildingsandbuildings,andthesecuritycontractnumberswere2021InwardandOutwardBanking(YongZuiXinDi)ZiNo.1-018,(2022)InwardandOutwardBanking(甬最信抵)字No.1-001,(2022)InwardandOutwardBanking(YongZuiXinDi)ZiNo.1-003and(2024)InwardandOutwardBanking(YongZuiXinDi)ZiNo.1-003.ThepropertiesusedformortgagehadanoriginalvalueofRMB937,644,764.28andanetvalueofRMB594,354,351.42;thelandusedformortgagehadanoriginalvalueofRMB202,898,354.01andanetvalueofRMB157,092,497.82.
(2)TheCompanyhasenteredintoseveralagreementswithPingAnBankNingboBeilunSub-branch,specificallyPingAnBankNingboStrategyIIChengShenZi20240816No.006,PingAnBankNingboChengShenZi20240919No.0003,PingAnBankNingboChengShenZi20241021No.0003,PingAnBankNingboChengShenZi20241125No.0003,andPingAnBankNingboChengShenZi20241219No.0040,alongwithPingyinNingboChengShenZi20241224No.0010foraPromissoryNoteapplication.AsofDecember31,2024,theCompanyhasmadeabankacceptancedepositofRMB19,650,000.00totheaforementionedsub-branch,whichhasresultedintheissuanceofanotepayableamountingtoRMB458,043,608.51.
(3)On7September2022,theCompanyengagedinacontractualagreementwithKokusaiCo.,Ltd.toprocurea5-axisendurancetestingmachinefortheEPSsteeringsystem.Thecontract,identifiedasContractNo.10762022090702,wassuccessfullyexecuted.Subsequently,on30August2023,theCompanyestablishedaletterofcreditwithBankofNingbo,No.LC0110223A1890,infavorofKokusaiCo.,Ltd.,amountingtoUSD450,000.Asof31December2024,theremainingbalanceoftheletterofcreditstoodatUSD225,000.ThisletterofcreditstipulatesthatadraftofUSD225,000shallbeissuedtothebeneficiarywithintendaysofthecreation.
(4)IncompliancewiththeU.S.Customsbondingrequirements,theCompanyenteredintoanIrrevocableBankGuaranteewithCitibankon12September2023.Thisguarantee,identifiedasGuaranteeNo.69628907,wasestablishedinfavorofAVALONRISKMANAGEMENTINSURANCEAGENCYandisvalueduptoUSD2.8million.Theletterofguaranteewasamendedon13November2024,andtherevisedamountoftheletterofguaranteewasUSD3.5million,andthevalidityperiodoftheletterofguaranteewasfrom18November2024to15August2025,andtheletterofguaranteestipulatedthatitwouldbepaidintimeuponreceiptbyCitibankofabillofexchangeinconformitywiththetermsoftheletterofcredit,andthattheamountofthepaymentwouldnotexceedUSD3.5million.
(5)TuopuAutomobileElectronicsandPingAnBank,NingboBranchenteredintoaLetterofApplicationforPromissoryNotenumberedPingAnBankNingboChengShenZi20241121No.0016andPingAnBankNingboChengShenZi20241223No.005.Asat31December2024,theCompanyhadpaidadepositofRMB6,400,010.00tothebanksforthebankers'acceptancebills,onthebasisofwhichnotespayableamountingtoRMB126,342,849.50wereissued.
(6)TuopuAutomobileElectronicsenteredintoanaluminumingotpurchasecontractwithARZYZINDUSTRIAS,S.A.DEC.V.on22December2023undercontractno.TP20231222-01.theCompanyenteredintoanagreementwithBankofNingboinfavorofARZYZINDUSTRIAS,S.A.DEC.V.on28April2024inanLetterofCreditNo.LC1900324000217intheamountofUSD14,833.01.Asat31December2024,thebalanceoftheletterofcreditwasUSD14,833.01.
(7)SkateboardChassissignedaconstructioncontractwithNingboLongyuanShenghongEcologicalConstructionEngineeringCo.Ltd.fortwoprojects:theannualproductioncapacityof1.1millionsetsofinteriorfunctionaltrimpartsandtheannualproductioncapacityof1.3millionsetsofthermalmanagementsystemsforTuopuSkateboardChassis(Ningbo)Co.Ltd.ThecompanyalsoenteredintoaPaymentGuaranteewithBankofChinaLimitedNingboBranchon1March2023,infavorofNingboLongyuanShenghongEcologicalConstructionEngineeringCo.Ltd.TheguaranteeamountisRMB1.7152million,withGuaranteeNo.GC1900323000176.Thevalidityperiodisfromtheeffectivedateofthemaincontractto28daysafterthepaymentofthecontractsum.IfSkateboardChassisfailstopaythecontractsum,thebankwillpayontheirbehalfwithintheguaranteedamount.OnMarch22,2024,SkateboardChassisenteredintoaconstructionagreementfortheannualproductionof
1.6millionsetsofalightweightchassissystemprojectwithTuopuSkateboardChassis(Ningbo)Co.,Ltd.Subsequently,onApril3,2024,SkateboardChassisexecuteda'PaymentLetterofGuarantee'withBankofChinaLimited,NingboBranch,amountingtooverRMB2,638,600,000,designatingZhejiang
ZhongqinConstructionCompanyLimitedasthebeneficiary.Theguarantee,identifiedbynumberGC1900324000216,isvalidfromthedateofissuanceuntil28daysfollowingthepaymentofthecontractsumspecifiedinthemainagreement.Accordingtothetermsoftheguarantee,shouldSkateboardChassisdefaultonthepaymenttoZhejiangZhongqinConstructionCompanyLimitedasperthemaincontract,thebankisobligatedtocoverthepaymentwithintheguaranteedlimit.Additionally,theCompanyhasremittedRMB4,353,800toBankofChinaLimited,NingboBranch,asaguaranteedeposit,whichhasaccruedaninterestincomeofRMB8,810.56.
(8)TuopuAutomobilePartsandIndustrialBankCorporationNingboBranchenteredintoabillpoolbusinesscooperationagreementnumberedXingYinYongBillsPoolServiceZiNo.Haishu220006,andamaximumpledgecontractnumberedXingYinYongZhi(Gao)ZiNo.Haishu220007,andasof31December2024,therewerestillpledgedbankacceptancesintheamountofRMB498,525,362.67andcommercialpromissorynoteofRMB1,494,317.91,onthebasisofwhichanotepayableofRMB499,963,942.98wasissued.
(9)TuopuAutomobilePartsenteredintoanotepoolbusinesscooperationandnotepledgeagreementnumbered05101PC20188002withBeilunSub-branchofBankofNingboCo.andenteredintoasupplementalagreementtothenotepoolbusinesscooperationandnotepledgeagreementnumbered05101PC20188002on7November2018,andasat31December2024,therewerestillpledgedbankers'acceptancesofRMB285,176,106.46andcommercialacceptancesofRMB2,600,000.00,onthebasisofwhichnotespayableofRMB280,348,685.45wereissued.
(10)TuopuAutomobilePartsandCITICBankCorporationNingboBranchenteredintoanotepoolbusinesscooperationagreementnumberedFTAAssetPoolNo.20240109001andanotepledgecontractnumberedSellBankNingboHighestAmountPledgeNo.20240109001,asof31December2024,therewerestillbankers'acceptancespledgedintheamountofRMB94,617,939.58,andanotherRMB16,573,000.00waspaidtothebank.paid$16,573.65asadepositonthebankacceptances,onthebasisofwhichanotepayableof$90,528,504.87wasissued.
(11)TuopuAutomobilePartsenteredintoabusinesscooperationagreementwithZheshangBankCo.,numbered33100000ZheshangBillsPoolZi2017No.01470,aswellasanassetpoolbusinesscooperationagreement,numbered33100000ZheshangAssetPoolZi2017No.01470,andnumbered33100000ZheshangAssetPoolZi2017No.01471.TheseagreementsalsoincludetheZheshangBankAssetPoolPledgeGuaranteeContract.Asat31December2024,therewas$0.31ofinterestincomeretainedintheZCBmarginaccountopenedbyTuopuAutomobileParts.
(12)TuopuVibro-AcousticsTechnologyhasenteredintoseveralagreementswithNingboBankandBankofNingboCompanyLimited.TheseagreementsincludetheAssetPoolInvoicingStraight-ThroughAgreementNo.05100AT22BFN865,theAssetPoolBusinessCooperationandPledgeAgreementNo.0510100015480,andtheAssetPoolZi2019No.031.AsofDecember31,2024,therearestillpledgedbankacceptancebillsamountingtoRMB437,080,549.69andcommercialacceptancebillsamountingtoRMB14,066,037.11.Additionally,adepositofRMB7,097,814.91hasbeenmadetothebankforthebankacceptancebills,resultingintheissuanceofanotepayableofRMB458,123,126.12.
(13)TUOPUVIBRO-ACOUSTICSenteredintoabillpoolbusinesscooperationagreementnumbered33100000ZheshangBillsPoolZiNo.01472,2017,anassetpoolbusinesscooperationagreementnumbered33100000ZheshangAssetPoolZiNo.01472,2017andanassetpoolpledgeguaranteecontractnumbered33100000ZheshangAssetPledgeZiNo.01473,2017,withZheshangBankCo.No.01473AssetPoolPledgeGuaranteeContract,andasat31December2024,therewas$0.41ofinterestincomeretainedinthemarginaccountofZheshangBankopenedbyTUOPUVIBRO-ACOUSTICS.
(14)TUOPUVIBRO-ACOUSTICShasopenedamarginaccountwithBankofNingbowiththepurposeofpendingbillsettlementduetobusinessneeds,andasat31December2024,therewasinterestincomeintheamountofUSD31.81(RMB228.66)retainedintheaccount.
(15)TuopuImp.&Exp.hasopenedamarginaccountwithBankofNingboBeilunSub-branchwiththepurposeofpendingbillsettlementduetoitsbusinessneeds,andasatDecember31,2024,therewasinterestincomeintheamountofUSD33.15(equivalenttoRMB238.30)retainedintheaccount.
(16)TuopuPolandsignedabankguaranteewithCitibankforanamountnotexceeding2,500,000.00(PLN)onJuly19,2023,tocovercustomsdutiesrelatedtotrade,underguaranteenumberGC23-2000001.ByDecember31,2024,theCompanyhadtransferred2,500,000.00(PLN)toBankofChina(equivalenttoapproximatelyRMB4,399,250.00)asabonddeposit.
(17)TuopuUSA,LLCenteredintoabankguaranteeintheamountof449,902.24(USD)withCitibankon12December2024fortheleaseoftheAucklandplant.Asat31December2024,theCompanyhadpaidUSD449,902.24(approximatelyRMB3,234,077.26)toCitibankasdepositfortheguarantee.
(18)NingboQianhuienteredintoamaximumpledgecontractNo.06001PC20198005withNinghaiSub-branchofBankofNingboCo.,Ltd.andasat31December2024,RMB44,445.08(USD)waspaidtothebankasguaranteedepositforbanker'sacceptancebills.
(19)TuopuMalaysiaenteredintoabankguaranteewithBankofChinaLimitedon23February2024infavorofCLARION(MALAYSIA)SDNBHDinanamountnotexceedingRMB180,000ringgitforthepurchaseofautomotivepartsandcomponents,withaguaranteenumberofLG5111724000064,whichisvalidfrom23February2024to22February2025TheguaranteestipulatesthatifTuopuMalaysiafailstopaythecontractpaymenttoCLARION(MALAYSLA)SDNBHDasagreedinthemaincontract,thebankwillpayonbehalfofthecompanywithintheguaranteeamount.TheCompanyhaspaidRM180,000(approximatelyRMB294,011.85)toBankofChinaLimited,NingboBranchfortheguaranteedeposit.
2.Contigencies
(1).Importantcontingenciesexistingonthebalancesheetdate
□Applicable√Non-applicable
(2).EveniftheCompanyhasnoimportantcontingenciestobedisclosed,alsostate:
□Applicable√Non-applicable
3.Others
□Applicable√Non-applicableXVI.EventsaftertheBalanceSheetDate
1.Importantnon-adjustingevents
□Applicable√Non-applicable
2.Profitdistribution
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Proposeddistributionofprofitsordividends | 901,936,666.02 |
| Profitsordividendsdeclaredafterdeliberationandapproval |
Inaccordancewiththeprofitdistributionproposalfor2024,whichwasreviewedandapprovedduringthe21stMeetingoftheFifthSessionoftheCompany'sBoardofDirectorsonApril22,2025,theCompanyintendstoallocateacashdividendofRMB5.19(taxincluded)forevery10sharestoallshareholdersrecordedasoftheshareholdingregistrationdatefortheequitydistribution.Thisproposalisbasedonthenumberofsharesregisteredonthatdate.TheaforementionedprofitdistributionproposalispendingsubmissionforconsiderationattheCompany's2024annualgeneralmeeting.
3.Salesreturn
□Applicable√Non-applicable
4.NotestoOtherEventsaftertheBalanceSheetDate
□Applicable√Non-applicable
XVII.OtherSignificantEvents
1.Correctionofpreviousaccountingerrors
(1).Retrospectiverestatement
□Applicable√Non-applicable
(2).Prospectiveapplication
□Applicable√Non-applicable
2.Debtrestructuring
□Applicable√Non-applicable
3.Replacementofassets
(1).Exchangeofnon-monetaryassets
□Applicable√Non-applicable
(2).Exchangeofotherassets
□Applicable√Non-applicable
4.Annuityplan
□Applicable√Non-applicable
5.Discontinuingoperation
□Applicable√Non-applicable
6.Segmentinformation
(1).Determinationbasisandaccountingpoliciesofthereportablesegment
□Applicable√Non-applicable
(2).Financialinformationofthereportablesegment
□Applicable√Non-applicable
(3).IftheCompanyhasnoreportablesegmentsorcannotdisclosethetotalassetsandtotalliabilitiesofindividualreportablesegment,statethereason
√Applicable□Non-applicable
TheprimaryfocusoftheCompanyliesintheresearch,development,manufacturing,anddistributionofautomotivecomponents.TherearenoidentifiableelementswithintheCompany'sconsolidationscopethatcanofferadistinctorrelatedsetofproductsorservices,nordotheybeardifferentrisksandrewards.Intheincreasinglyglobalautomotivepartsmarket,whiletheCompanyhasestablishedproductionandsalesoperationsinseveralcountriesoutsideofthePeople'sRepublicofChina,theseforeignsubsidiariesremaincloselylinkedtodomesticentities.Consequently,therearenoidentifiablecomponentswithintheCompanycapableofdeliveringproductsorservicesindependentlyinaspecificeconomiccontext.
Therefore,itcanbeconcludedthattheCompanylacksanydistinctbusinessorgeographicalsegments.
(4).Othernotes
□Applicable√Non-applicable
7.Othersignificanttransactionsandeventthathaveanimpactoninvestors'decisions
□Applicable√Non-applicable
8.Others
□Applicable√Non-applicableXVIII.NotestotheMainItemsoftheFinancialStatementsoftheParentCompany
1.Accountsreceivable
(1).Disclosurebyage
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Age | Bookbalanceattheendoftheperiod | Bookbalanceatthebeginningoftheperiod |
| Within1year | ||
| Including:sub-itemswithin1year | ||
| Within1year | 2,645,270,095.00 | 1,945,977,497.47 |
| Subtotalwithin1year | 2,645,270,095.00 | 1,945,977,497.47 |
| 1to2years | 143,298,790.33 | 116,037,921.61 |
| 2-3years | 55,892,076.76 | 51,788,849.82 |
| Over3years | 21,382,980.04 | 6,540,552.20 |
| 3to4years | ||
| 4to5years | ||
| Over5years | 25,038,286.15 | 34,341,864.17 |
| Total | 2,890,882,228.28 | 2,154,686,685.27 |
(2).Disclosurebyprovisionforbaddebts
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Category | BalanceattheEndofthePeriod | BalanceattheBeginningofthePeriod | ||||||||
| BookBalance | BadDebtProvision | BookValue | BookBalance | BadDebtProvision | BookValue | |||||
| Amount | Percentage(%) | Amount | AccruedProportion(%) | Amount | Percentage(%) | Amount | AccruedProportion(%) | |||
| Baddebtprovisionaccruedbasedonsingleitem | ||||||||||
| Including: | ||||||||||
Baddebtprovisionaccruedbasedonportfolios
| Baddebtprovisionaccruedbasedonportfolios | 2,890,882,228.28 | 100.00 | 201,229,080.98 | 6.96 | 2,689,653,147.30 | 2,154,686,685.27 | 100.00 | 162,705,517.47 | 7.55 | 1,991,981,167.80 |
| Including: | ||||||||||
| Baddebtprovisionaccruedbasedonagingportfolios | 2,890,882,228.28 | 100.00 | 201,229,080.98 | 6.96 | 2,689,653,147.30 | 2,154,686,685.27 | 100.00 | 162,705,517.47 | 7.55 | 1,991,981,167.80 |
| Total | 2,890,882,228.28 | / | 201,229,080.98 | / | 2,689,653,147.30 | 2,154,686,685.27 | / | 162,705,517.47 | / | 1,991,981,167.80 |
Baddebtprovisionaccruedbasedonsingleitem:
□Applicable√Non-applicableBaddebtprovisionaccruedbasedoncombinations
√Applicable□Non-applicableAccrueditemsbasedoncombinations:accountsreceivablewithbaddebtprovisionbyagingportfolio
Unit:YuanCurrency:RMB
| Name | BalanceattheEndofthePeriod | ||
| AccountsReceivable | BadDebtProvision | AccruedProportion(%) | |
| Within1year | 2,645,270,095.00 | 132,263,504.75 | 5.00 |
| 1to2years | 143,298,790.33 | 14,329,879.03 | 10.00 |
| 2to3years | 55,892,076.76 | 16,767,623.03 | 30.00 |
| 3to5years | 21,382,980.04 | 12,829,788.02 | 60.00 |
| Over5years | 25,038,286.15 | 25,038,286.15 | 100.00 |
| Total | 2,890,882,228.28 | 201,229,080.98 | |
Descriptionofbaddebtprovisionbyportfolio:
□Applicable√NotApplicableProvisionforbaddebtsbasedongeneralmodelofexpectedcreditlosses
□Applicable√NotapplicableDescriptionofsignificantchangesinthecarryingamountofaccountsreceivableforwhichchangesintheallowanceforlossesoccurredduringtheperiod:
□Applicable√Notapplicable
(3).Baddebtprovision
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Category | BalanceattheBeginningofthePeriod | AmountChangedintheCurrentPeriod | BalanceattheEndofthePeriod | |||
| Provision | WithdrawalorReversal | Write-off | OtherChanges | |||
| Baddebtprovisionaccruedbasedonportfolios | 162,705,517.47 | 38,523,563.51 | 201,229,080.98 | |||
| Total | 162,705,517.47 | 38,523,563.51 | 201,229,080.98 | |||
Significantwithdrawalorreversalamountofprovisionforbaddebtsinthecurrentperiod:
□Applicable√Non-applicable
(4).Accountsreceivableactuallywrittenoffinthecurrentperiod
□Applicable√Non-applicableOfwhichsignificantaccountsreceivablewrite-offs
□Applicable√Non-applicableWrite-offofsignificantaccountsreceivable
□Applicable√Non-applicable
(5).Accountsreceivableofthetopfiveclosingbalancescollectedbydebtors
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| NameofEntity | Balanceofaccountsreceivableattheendoftheperiod | Balanceofcontractassetsattheendoftheperiod | Balanceofaccountsreceivableandcontractassetsattheendoftheperiod | Asapercentageoftotalbalanceofaccountsreceivableandcontractassetsattheendoftheperiod(%) | Balanceofbaddebtprovisionattheendoftheperiod |
| No.1 | 621,112,946.26 | 621,112,946.26 | 21.49 | 31,055,647.31 | |
| No.2 | 603,518,909.18 | 603,518,909.18 | 20.88 | 30,175,945.46 | |
| No.3 | 335,951,351.64 | 335,951,351.64 | 11.62 | 16,797,567.58 | |
| No.4 | 225,539,870.56 | 225,539,870.56 | 7.80 | 11,276,993.53 | |
| No.5 | 117,009,460.09 | 117,009,460.09 | 4.05 | 5,850,473.00 | |
| Total | 1,903,132,537.73 | 1,903,132,537.73 | 65.84 | 95,156,626.88 |
Othernotes:
□Applicable√Non-applicable
2.OtherReceivablesPresentationofitems
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Balanceattheendoftheperiod | Balanceatthebeginningoftheperiod |
| Interestreceivable | ||
| Dividendreceivable | ||
| OtherReceivables | 149,728,635.35 | 338,124,520.82 |
| Total | 149,728,635.35 | 338,124,520.82 |
OtherNotes:
□Applicable√Non-applicableInterestreceivable
(1).Categoryofinterestreceivable
□Applicable√Non-applicable
(2).Importantlatepaymentinterest
□Applicable√Non-applicable
(3)Disclosurebybaddebtaccrualmethod
□Applicable√Non-applicableProvisionforbaddebtsismadeonasingleitembasis:
□Applicable√Non-applicableNotetoprovisionforbaddebtsismadeonasingleitembasis:
□Applicable√Non-applicable
Provisionforbaddebtsbyportfolio:
□Applicable√Non-applicable
(4).Provisionforbaddebtsbasedonthegeneralmodelofexpectedcreditlosses
□Applicable√NotapplicableNotetosignificantchangesinthebookamountofinterestreceivableforwhichchangesintheallowanceforlossesoccurredduringtheperiod:
□Applicable√Notapplicable
(5)Provisionforbaddebts
□Applicable√NotapplicableOfwhichtheamountofbaddebtprovisionrecoveredorreversedduringtheperiodissignificant:
□Applicable√Notapplicable
(6)Interestreceivablewrittenoffduringtheperiod
□Applicable√NotapplicableOfwhichsignificantwrite-offofinterestreceivable
□Applicable√NotapplicableNotetowrite-offs:
□Applicable√NotapplicableOthernotes:
□Applicable√NotApplicableDividendReceivable
(7).Dividendsreceivable
□Applicable√Notapplicable
(8).Significantdividendsreceivablewithanageofmorethanoneyear
□Applicable√Notapplicable
(9).Disclosurebybaddebtaccrualmethod
□Applicable√NotapplicableProvisionforbaddebtsismadeonasingleitembasis:
□Applicable√NotapplicableNotetoprovisionforbaddebtsismadeonasingleitembasis:
□Applicable√NotapplicableNotetoprovisionforbaddebtsbyportfolio
□Applicable√Notapplicable
(10).Provisionforbaddebtsbasedonthegeneralmodelofexpectedcreditlosses.
□Applicable√NotapplicableNotetosignificantchangesinthecarryingamountofdividendsreceivableforwhichchangesinthe
allowanceforlossesoccurredduringtheperiod:
□Applicable√Notapplicable
(11).Provisionforbaddebts
□Applicable√NotapplicableOfwhichtheamountofbaddebtprovisionrecoveredorreversedduringtheperiodissignificant:
□Applicable√Notapplicable
(12).Dividendsreceivablewrittenoffduringtheperiod
□Applicable√NotapplicableDividendsreceivablewrittenoffofwhichtheamountissignificant:
□Applicable√NotapplicableNotetowrite-offs:
□Applicable√NotapplicableOthernotes:
□Applicable√NotapplicableOtherreceivables
(13).Disclosurebyaging
√Applicable□Notapplicable
Unit:YuanCurrency:RMB
| Aging | BookBalanceattheEndofthePeriod | BookBalanceattheBeginningofthePeriod |
| Within1year | ||
| Including:sub-itemwithin1year | ||
| Within1year | 31,727,480.11 | 196,727,954.35 |
| Subtotalwithin1year | 31,727,480.11 | 196,727,954.35 |
| 1to2years | 38,615,000.00 | 96,487,272.58 |
| 2to3years | 87,605,000.00 | 85,926,323.13 |
| Over3years | 58,776,323.13 | 10,614,981.71 |
| 3to4years | ||
| 4to5years | ||
| Over5years | 99,000.00 | 255,800.00 |
| Total | 216,822,803.24 | 390,012,331.77 |
(14).Disclosurebyprovisionforbaddebts
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| NatureofFunds | Bookbalanceattheendoftheperiod | Bookbalanceatthebeginningoftheperiod |
| Temporaryborrowings | 207,951,543.91 | 383,638,156.62 |
| Pettycashfunds | 1,147,700.00 | 2,545,800.00 |
| Securitydeposit | 6,209,250.00 | 1,209,250.00 |
| Others | 1,514,309.33 | 2,619,125.15 |
| Total | 216,822,803.24 | 390,012,331.77 |
(13).Provisionforbaddebts
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| BadDebtProvision | Phase1 | Phase2 | Phase3 | Total |
Expectedcreditlossinthenext12
months
| Expectedcreditlossinthenext12months | Expectedcreditlossthroughouttheduration(nocreditimpairmentoccurred) | Expectedcreditlossthroughouttheduration(creditimpairmenthasoccurred) | ||
| BalanceonJanuary1,2024 | 51,887,810.95 | 51,887,810.95 | ||
| BalanceofthecurrentperiodonJanuary1,2024 | ||||
| --TransfertoPhase2 | ||||
| --TransfertoPhase3 | ||||
| --TransfertoPhase2 | ||||
| --TransfertoPhase1 | ||||
| Provisionmadeinthecurrentperiod | 15,206,356.94 | 15,206,356.94 | ||
| Reversalinthecurrentperiod | ||||
| Write-offinthecurrentperiod | ||||
| Write-offinthecurrentperiod | ||||
| Otherchanges | ||||
| BalanceonDecember31,2024 | 67,094,167.89 | 67,094,167.89 |
Notestosignificantchangesinthebookbalanceofotherreceivablesthathavechangedinthecurrentperiod:
□Applicable√Non-applicableAmountofbaddebtprovisioninthecurrentperiodandthebasisforassessingwhetherthecreditriskoffinancialinstrumentshasincreasedsignificantly:
□Applicable√Non-applicable
(16).Particularsofbaddebtprovision
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Category | BalanceattheBeginningofthePeriod | mountChangedintheCurrentPeriod | BalanceattheEndofthePeriod | |||
| Provision | WithdrawalorReversal | Write-off | OtherChanges | |||
| Accounts | 51,887,810.95 | 15,206,356.94 | 67,094,167.89 | |||
| receivablewithbaddebtaccruedbasedonagingportfolio | ||||
| Total | 51,887,810.95 | 15,206,356.94 | 67,094,167.89 |
Baddebtprovisioninthecurrentperiodwithsignificantamountofwithdrawalorreversal:
□Applicable√Non-applicable
(17).Particularsofotherreceivablesactuallywrittenoffinthecurrentperiod
□Applicable√Non-applicableOfwhichsignificantotherreceivablesarewrittenoff:
□Applicable√NotApplicableDescriptionofotherreceivableswrittenoff:
□Applicable√Notapplicable
(18).Particularsofotherreceivablesofthetopfiveclosingbalancescollectedbydebtors
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| NameofUnit | Balanceattheendoftheperiod | Proportionintotalotherreceivablesattheendoftheperiod(%) | Natureoffunds | Aging | Balanceofbaddebtprovisionattheendoftheperiod |
| TuopuPolandsp.z.o.o | 207,951,543.91 | 95.91 | Temporaryborrowings | Note | 66,125,067.42 |
| WuhuCheryTechnologyCo.,Ltd. | 5,000,000.00 | 2.31 | DepositsandGuarantees | Within1year | 250,000.00 |
| ZhejiangHolley&FutongInvestmentCo.,Ltd. | 1,000,000.00 | 0.46 | DepositsandGuarantees | 1-2years | 300,000.00 |
| ChaiXingnan | 220,000.00 | 0.10 | Other | 1-2years | 22,000.00 |
| RenhuaiHuachiLiquorSalesCo.,Ltd. | 200,000.00 | 0.09 | DepositsandGuarantees | 2-3years | 60,000.00 |
| Total | 214,371,543.91 | 98.87 | / | / | 66,757,067.42 |
Note:Theamountforlessthan1yearisRMB24,754,470.78,for1-2yearsitisRMB38,265,000.00,for2-3yearsitisRMB86,328,000.00,andfor3-4yearsitisRMB58,604,073.13.
(19).Accountsreceivablerelatedtogovernmentsubsidies
□Applicable√Non-applicableOthernotes:
□Applicable√Non-applicable
3.Long-termequityinvestments
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Balanceattheendoftheperiod | Balanceatthebeginningoftheperiod | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
| Investmentsinsubsidiaries | 15,197,879,792.86 | 15,197,879,792.86 | 12,385,366,535.37 | 12,385,366,535.37 | ||
| Investmentsinjointventuresandassociates | 96,732,684.19 | 96,732,684.19 | 139,641,447.46 | 139,641,447.46 | ||
| Total | 15,294,612,477.05 | 15,294,612,477.05 | 12,525,007,982.83 | 12,525,007,982.83 | ||
(1).Investmentsinsubsidiaries
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| InvestedEntity | Openingbalance(bookvalue) | Openingbalanceofprovisionforimpairment | Increaseordecreaseduringtheperiod | Closingbalance(bookvalue) | Balanceattheendoftheperiodofimpairmentprovision | |||
| Additionstoinvestments | Decreaseininvestments | Provisionforimpairment | Other | |||||
| TuopuImp&Exp | 198,081,940.48 | 198,081,940.48 | ||||||
| TuopuAutomobileParts | 196,984,594.91 | 196,984,594.91 | ||||||
| TUOPUVIBRO-ACOUSTICS | 199,685,004.03 | 199,685,004.03 | ||||||
| YantaiTuopu | 62,800,000.00 | 62,800,000.00 | ||||||
| LiuzhouTuopu | 100,000,000.00 | 100,000,000.00 | ||||||
| ShenyangTuopu | 10,000,000.00 | 10,000,000.00 | ||||||
| USHONEELECTRONICCHASSIS | 20,000,000.00 | 30,000,000.00 | 50,000,000.00 | |||||
| Ningbo | 31,210,000.00 | 31,210,000.00 | ||||||
| Qianhui | |||||
| SichuanTuopu | 20,000,000.00 | 20,000,000.00 | |||
| WuhanTuopu | 150,000,000.00 | 150,000,000.00 | |||
| PinghuTuopu | 208,000,000.00 | 208,000,000.00 | |||
| ShanghaiTowin | 10,000,000.00 | 111,000,000.00 | 121,000,000.00 | ||
| TuopuIndustrialAutomation | 20,000,000.00 | 20,000,000.00 | |||
| TuopuInvestment | 129,610,000.00 | 36,190,000.00 | 165,800,000.00 | ||
| USHONEE-commerce | 4,000,000.00 | 200,000.00 | 4,200,000.00 | ||
| TuopuInternational | 7,311,546.08 | 7,311,546.08 | |||
| BaojiTuopu | 18,980,000.00 | 26,920,000.00 | 45,900,000.00 | ||
| TaizhouTuopu | 100,000,000.00 | 100,000,000.00 | |||
| TuopuAutomobileElectronics | 2,500,000,000.00 | 2,500,000,000.00 | |||
| JinzhongTuopu | 8,000,000.00 | 8,000,000.00 | |||
| ShenzhenTowin | 15,200,000.00 | 4,800,000.00 | 20,000,000.00 | ||
| TUOPUDOBRASIL | 80,776,216.50 | 80,776,216.50 | |||
| ZhejiangTowin | 571,320,000.00 | 571,320,000.00 | |||
| SuiningTuopu | 290,000,000.00 | 290,000,000.00 | |||
| HunanTuopu | 722,590,000.00 | 722,590,000.00 | |||
| TuopuUSA,LLC | 35,091,204.56 | 35,091,204.56 | |||
| TuopuChassis | 514,900,000.00 | 514,900,000.00 | |||
| TuopuThermalManagement | 3,836,000,000.00 | 177,800,000.00 | 4,013,800,000.00 | ||
| HuzhouTuopu | 50,000,000.00 | 140,000,000.00 | 190,000,000.00 | ||
| TuopuPoland | 18,000,000.00 | 18,000,000.00 | |||
| SHANGHAITUOPUYALE | 16,500,000.00 | 16,500,000.00 | |||
| Xi’anTuopu | 73,504,351.00 | 99,120,320.00 | 172,624,671.00 | ||
| NINGBOUSHONETECHNOLOGY | 50,000,000.00 | 200,000,000.00 | 250,000,000.00 | ||
| ChongqingChassis | 191,200,000.00 | 259,000,000.00 | 450,200,000.00 | ||
| Skateboard | 1,633,010,0 | 759,000,00 | 2,392,010,0 |
| Chassis | 00.00 | 0.00 | 00.00 | ||
| AnhuiTuopu | 160,200,000.00 | 109,500,000.00 | 269,700,000.00 | ||
| ChongqingTuopu | 18,583,223.89 | 18,583,223.89 | |||
| TuopuMexico | 95,040,000.00 | 792,000,000.00 | 887,040,000.00 | ||
| JinanTuopu | 18,900,000.00 | 1,900,000.00 | 20,800,000.00 | ||
| HenanTuopu | 7,200,000.00 | 7,200,000.00 | |||
| NingboAutomotiveTrim | 57,771,391.41 | 57,771,391.41 | |||
| Total | 12,385,366,535.37 | 2,812,513,257.49 | 15,197,879,792.86 |
(2).Investmentsinjointventuresandassociates
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| InvestedEntity | BalanceattheBeginningofthePeriod | Decrease/Increaseinthecurrentperiod | BalanceattheEndofthePeriod | Balanceofimpairmentprovisionattheendoftheperiod | |||||||
| InvestmentIncreased | InvestmentDecreased | Investmentprofitandlossrecognizedundertheequitymethod | Adjustmentonothercomprehensiveincome | Otherchangesinequity | Cashdividendsorprofitdeclaredtodistribute | Provisionforimpairmentaccrued | Other | ||||
| I.Jointventures | |||||||||||
| TuopuElectricalAppliances | 99,109,088.70 | 47,623,595.49 | 50,000,000.00 | 96,732,684.19 | |||||||
| NingboAutomotiveTrim | 40,532,358.76 | 19,005,379.52 | -1,766,346.87 | -57,771,391.41 | |||||||
| Subtotal | 139,641,447.46 | 19,005,379.52 | 45,857,248.62 | 50,000,000.00 | -57,771,391.41 | 96,732,684.19 | |||||
| II.Associates | |||||||||||
Subtotal
| Subtotal | |||||||||
| Total | 139,641,447.46 | 19,005,379.52 | 45,857,248.62 | 50,000,000.00 | -57,771,391.41 | 96,732,684.19 |
(3).Impairmenttestoflong-termequityinvestments
□Applicable√Notapplicable
4.Operatingincomeandoperatingcost
(1).Particularsonoperatingincomeandoperatingcost
√Applicable□Notapplicable
Unit:YuanCurrency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinpreviousperiod | ||
| Income | Cost | Income | Cost | |
| Mainbusinessoperations | 7,767,565,077.41 | 5,924,322,701.09 | 6,759,567,721.50 | 5,184,302,603.67 |
| Otherbusinessoperations | 810,631,788.08 | 544,363,779.07 | 598,745,846.46 | 441,052,086.82 |
| Total | 8,578,196,865.49 | 6,468,686,480.16 | 7,358,313,567.96 | 5,625,354,690.49 |
(2).Particularsonbreakdownofoperatingincomeandcost
□Applicable√Non-applicableOthernotes
□Applicable√Non-applicable
(3).Notestodischargeofobligations
□Applicable√Non-applicable
(4).Notestoallocationtoremainingdischargeofobligations
□Applicable√Non-applicable
(5).SignificantContractChangesorSignificantTransactionPriceAdjustments
□Applicable√Non-applicable
5.Investmentincome
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinpreviousperiod |
| Long-termequityinvestmentincomemeasuredbycostmethod | ||
| Long-termequityinvestmentincomemeasuredbyequitymethod | 45,857,248.62 | -2,063,278.75 |
| Investmentincomefromdisposaloflong-termequityinvestment | ||
| Investmentincomeoftradingfinancialassetsduringtheholdingperiod | ||
| Dividendincomefromotherequityinstrumentinvestmentsduringtheholdingperiod | ||
| Interestincomefromdebtinvestmentduringtheholdingperiod | ||
| Interestincomefromotherdebtinvestmentsduringtheholdingperiod | ||
| Investmentincomefromdisposaloftradingfinancialassets | ||
| Investmentincomefromthedisposalofotherequityinstrumentinvestments | ||
| Investmentincomefromdisposalofdebtinvestments | ||
| Investmentincomefromthedisposalofotherdebtinvestments | ||
| Incomefromdebtrestructuring | ||
| Investmentincomefromwealthmanagementproducts | 38,441,251.62 | 6,032,297.53 |
| Total | 84,298,500.24 | 3,969,018.78 |
6.Others
□Applicable√Non-applicableXIX.AdditionalData
1.Currentnon-recurringprofitandlossschedule
√Applicable□Non-applicable
Unit:YuanCurrency:RMB
| Item | Amount | Note |
| Gainsandlossesondisposalofnon-currentassets,includingtheeliminationoftheprovisionforassetimpairment. | -19,860,458.72 | |
| Governmentgrantsrecognizedinprofitorlossforthecurrentperiod,exceptforgovernmentgrantsthatarecloselyrelatedtotheCompany'snormalbusinessoperations,incompliancewithnationalpoliciesandinaccordancewithdefinedcriteria,andthathaveacontinuousimpactontheCompany'sprofitorloss | 275,800,172.93 | |
| Gainsandlossesarisingfromchangesinthefairvalueoffinancialassetsandfinancialliabilitiesheldbynon-financialenterprisesandgainsandlossesarisingfromthedisposaloffinancialassetsandfinancialliabilities,exceptforeffectivehedgingbusinessrelatedtotheCompany'snormaloperatingbusiness | 39,525,563.52 | |
| Capitaloccupancyfeeschargedtonon-financialenterprisesrecognizedascurrentprofitorloss | ||
| Gainsandlossesonentrustedinvestmentorassetmanagement | ||
| Gainsandlossesonentrustedexternalloans | ||
| Lossesonassetsduetoforcemajeurefactors,suchasnaturaldisasters | ||
| Reversalofprovisionforimpairmentofreceivablesindividuallytestedforimpairment | ||
| Gainarisingfromtheexcessofthecostofinvestmentinsubsidiaries,associatesandjointventuresoverthefairvalueoftheinvestee'sidentifiablenetassetsatthetimeofinvestmentacquisition | 21,901,496.20 |
Netprofitorlossofsubsidiariesfortheperiodfromthebeginningoftheperiodtothedateofconsolidationarisingfromabusinesscombinationunderthesamecontrol
| Gainorlossonexchangeofnon-monetaryassets |
| Gainsorlossesondebtrestructuring |
| One-timecostsincurredbytheenterpriseduetothefactthattherelevantoperatingactivitiesarenolongercontinuing,suchasexpendituresfortherelocationofemployees |
| One-timeimpactoncurrentprofitorlossduetoadjustmentsintax,accountingandotherlawsandregulations |
| One-timerecognitionofshare-basedpaymentexpensesduetocancellationormodificationofequityincentiveplans |
| Forcash-settledshare-basedpayments,gainsorlossesarisingfromchangesinthefairvalueofemployeecompensationpayableafterthefeasibledateof |
| entitlement | |
| Gainsorlossesarisingfromchangesinthefairvalueofinvestmentpropertiessubsequentlymeasuredusingthefairvaluemodel | |
| Gainsorlossesarisingfromtransactionswherethetransactionpriceissignificantlylessthanfairvalue | |
| GainsorlossesarisingfromcontingenciesunrelatedtotheCompany'snormalbusinessoperations | |
| Custodianfeeincomefromentrustedoperations | |
| Non-operatingincomeandexpensesotherthanthoselistedabove | 696,245.94 |
| Otheritemsofgainsandlossesthatmeetthedefinitionofnon-recurringgainsandlosses | |
| Less:Incometaxeffect | 45,731,889.54 |
| Minorityinterestsimpactamount(aftertax) | 43,407.13 |
| Total | 272,287,723.20 |
Fornon-recurringprofitandlossitemsthattheCompanyhasrecognizedasnon-recurringprofitandlossitemsnotlistedin"InterpretativeAnnouncementforInformationDisclosureofCompaniesIssuingSecuritiesNo.1-Non-recurringProfitandLoss"andtheamountofwhichismaterial,aswellasitemsdefinedasnon-recurringprofitandlossin"InterpretativeAnnouncementforInformationDisclosureofCompaniesIssuingSecuritiesNo.1-Non-recurringProfitandLoss",statethereasons.
□Applicable√Non-applicableOthernotes
□Applicable√Non-applicable
2.ROEandEPS
√Applicable□Non-applicable
| Profitforthereportingperiod | WeightedAverageROE(%) | EPS | |
| BasicEPS | DilutedEPS | ||
| NetprofitattributabletocommonshareholdersoftheCompany | 16.56 | 1.79 | 1.78 |
| NetprofitattributabletocommonshareholdersoftheCompanyafterdeductingnon-recurringgainsandlosses | 15.05 | 1.62 | 1.62 |
3.DifferencesbetweeninternationalandChineseaccountingstandards
□Applicable√Non-applicable
4.Others
□Applicable√Non-applicable
President:WuJianshuDateofSubmissiontoBoardofDirectors:April22,2025
Revisions
□Applicable√Non-applicable