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StockCode:688516Abbreviation:ATW
WuxiAutowellTechnologyCo.,Ltd.
2024InterimReport
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ImportantNoticeI.TheBoardofDirectors,BoardofSupervisorsandDirectors,Supervisors,andSeniorManagementoftheCompanyUndertakeThattheInformationinthisReportContainsNoFalseRecord,MisleadingStatementofMaterialOmission,andAssumeIndividualandJointandSeveralLiabilityfortheAuthenticity,AccuracyandCompletenessoftheInformationinThisReport.II.NoticeofMaterialRisksTheCompanyhaselaboratedintheReportonallsortsofrisksthatitmayfaceinoperationsandcountermeasures.Fordetails,pleasereferto“V.RiskFactors”inSectionIII“ManagementDiscussionandAnalysis”.III.AllDirectorsoftheCompanyAttendedtheBoardMeeting.IV.ThisInterimReportisUnaudited.V.Mr.GeZhiyong,theCompany’sChairman,Mr.YinZhe,thePersoninChargeofAccounting,andMr.LiKai,theHeadoftheAccountingDepartment(ChiefAccountant)HerebyWarranttheAuthenticity,Accuracy,andCompletenessoftheFinancialStatementsinthisReport.VI.TheProfitDistributionPlanorthePlanonConvertingCapitalReservestoShareCapitalinThisReportingPeriodAdoptedbytheBoardofDirectors.TheCompanyintendstodistributeatotalcashdividendofRMB270.41MilliontoallshareholdersattherateofRMB8.6(taxinclusive)per10sharesonthebasisof314,433,169sharesasthetotalcapitalsharefromthedateofthenoticeonconveningtheboardmeeting(August11,2024).TheCompanyplansneithertodistributebonusshares,nortoconvertreservefundintoitssharecapitalpriortotheregistrationdateforshareseligiblefortheplanneddistribution.IntheeventofanychangeintheCompany’stotalsharecapitalstemmingfromdebt-to-equityswap,sharerepurchase,buybackandcancellationofsharesusedforequityincentives,buybackandcancellationofsharesarisingfromreorganizationofmajorassets,etc.,theCompanyplanstoadjustthecashdividendpersharetokeepthetotalamountofdistributionunchanged,andwillannounceseparatelythedetailsoftheadjustment.
VII.ExistenceofSuchSignificantEventsasSpecialArrangementsonCorporateGovernance?Applicable√N/AVIII.Forward-LookingStatementsonRisks
√Applicable?N/A
Forward-lookingstatementssuchasfutureplansmentionedinthisReportdonotconstituteactualcommitmentsoftheCompanytotheinvestors.Theinvestorsandrelatedpartiesshouldbefullyawareoftherisks.
IX.ExistenceofFundOccupiedbyControllingShareholdersandOtherRelatedPartiesforNon-operationalPurposesNo
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X.ExistenceofExternalGuaranteeProvidedinViolationoftheCompany’sDecision-makingProceduresNoXI.ExistenceofaCaseWhereMoreThanHalfoftheDirectorsFailtoEnsuretheAuthenticity,Accuracy,andCompletenessofThisInterimReportDisclosedbytheCompanyNoXII.Others√Applicable?N/AIn case of any discrepancies between the Chinese version and the report, the Chinese version shall prevail.
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TableofContents
Listofdocumentsfor
referenc
SECTIONIDEFINITIONS ...... 6
SECTIONIICOMPANYPROFILEANDMAJORFINANCIALINDICATORS ...... 12
SECTIONIIIMANAGEMENTDISCUSSIONANDANALYSIS ...... 19
SECTIONIVCORPORATEGOVERNANCE ...... 63
SECTIONVENVIRONMENTALANDSOCIALRESPONSIBILITIES ...... 69
SECTIONVISIGNIFICANTEVENTS ...... 72
SECTIONVIICHANGESINSHARESANDPARTICULARSOFSHAREHOLDERS ...... 114SECTIONVIIIPREFERREDSHARES............................................................................................130.SECTIONIXBONDS ...... 131
SECTIONXFINANCIALSTATEMENTS ...... 138
e
FinancialstatementsbearingthesignaturesandsealsoftheCompany’schairman,thepersoninchargeofaccounting,andtheheadoftheaccountingdepartment(chiefaccountant)OriginalsofallcorporatedocumentsandannouncementsdisclosedbytheCompanyonwebsitesdesignatedbytheChinaSecuritiesRegulatoryCommission(CSRC)duringthereportingperiod
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SectionIDefinitionsInthisReport,unlessthecontextotherwiserequires,thefollowingtermsshallconveythemeaningsassetoutbelow:
| Definitionsoffrequentlyusedterms | ||
| Company,theCompany,joint-stockcompany,Autowell,AutowellCo.,Ltd. | Refersto | WuxiAutowellTechnologyCo.,Ltd.,ajoint-stockcompanychangedfromWuxiAutowellTechnologyCorporationasawhole. |
| IntelligentEquipment | Refersto | WuxiAutowellIntelligentEquipmentCo.,Ltd.,asubsidiarycontrolledbytheCompany |
| SupplyChainCompany | Refersto | WuxiAutowellSupplyChainManagementCo.,Ltd.,awholly-ownedsubsidiaryoftheCompany |
| OpticsApplication | Refersto | WuxiAutowellOpticsApplicationCo.,Ltd.,asubsidiarycontrolledbytheCompany |
| SCEC | Refersto | WuxiSongciElectromechanicalCo.,Ltd.,asubsidiarycontrolledbytheCompany |
| CoshinTechnology | Refersto | WuxiAutowellCoshinSemiconductorTechnologyCo.,Ltd.,asubsidiarycontrolledbytheCompany |
| XuRiTechnology | Refersto | WuxiAutowellXuRiTechnologyCo.,Ltd.,asubsidiarycontrolledbytheCompany |
| LeddoTechnology | Refersto | WuxiLeddoTechnologyCo.,Ltd.,asubsidiarycontrolledbytheCompany |
| WuxiZhiyuan | Refersto | WuxiAutowellZhiyuanEquipmentCo.,Ltd.,asubsidiarycontrolledbytheCompany |
| JiexinTechnology | Refersto | WuxiAutowellJiexinTechnologyCo.,Ltd.,asubsidiarycontrolledbytheCompany |
| PolarNewEnergy | Refersto | PolarNewEnergy(Bengbu)Co.,Ltd.,awholly-ownedsubsidiaryoftheCompany |
| WuxiPolar | Refersto | WuxiPolarNewEnergyCo.,Ltd.,asubsidiarycontrolledbytheCompany |
| AUTOWELLJapan | Refersto | AUTOWELLJapanCorporation,awholly-ownedsubsidiaryoftheCompany |
| Autowell(Singapore) | Refersto | Autowell(Singapore)PTE.LTD.,awholly-ownedsubsidiaryoftheCompany |
| QinhuangdaoZhiyuan | Refersto | QinhuangdaoAutowellZhiyuanEquipmentCo.,Ltd,aholdingsub-subsidiarycontrolledbytheCompany |
| Autowell(Malaysia) | Refersto | AUTOWELL(MALAYSIA)SDN.,BHD.,aholdingsub-subsidiarycontrolledbytheCompany |
| SongyuTechnology | Refersto | WuxiSongyuTechnologyCo.,Ltd.,acompanyheldbytheCompany |
| Optech | Refersto | ShanghaiOptechScienceandTechnologyCo.,Ltd.,acompanyheldbytheCompany |
| Greenstone | Refersto | WuxiGreenstoneAutomationEquipmentCo.,Ltd.,acompanyheldbytheCompany |
| I-TEKOptoElectronics | Refersto | HefeiI-TEKOptoElectronicsCo.,Ltd.acompanyheldbytheCompany |
| ActualController | Refersto | Personsactinginconcert,namely,GeZhiyongandLiWen |
| WuxiWoshine | Refersto | WuxiWoshineSafetyEquipmentCo.,Ltd.,acompanycontrolledorsignificantlyinfluencedbytheCompany’sdirectors,supervisors,orsenior |
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| management | ||
| WuxiAochuang | Refersto | WuxiAochuangInvestmentPartnership(L.P.),ashareholdingplatformfortheCompany’semployees |
| WuxiAoli | Refersto | WuxiAoliInvestmentPartnership(L.P.),ashareholdingplatformfortheCompany’semployees |
| A-shares | Refersto | RMBordinaryshareslistedinChinesemainland |
| Shareholders’GeneralMeeting | Refersto | Shareholders’generalmeetingofWuxiAutowellTechnologyCo.,Ltd. |
| BoardofDirectors | Refersto | BoardofDirectorsofWuxiAutowellTechnologyCo.,Ltd. |
| BoardofSupervisors | Refersto | BoardofSupervisorsofWuxiAutowellTechnologyCo.,Ltd. |
| ArticlesofAssociation | Refersto | ArticlesofAssociationofWuxiAutowellTechnologyCo.,Ltd. |
| ReportingPeriod | Refersto | TheperiodfromJanuary1,2024toJune30,2024 |
| Yuan,millionYuan | Refersto | RMB,RMBmillion |
| CSRC | Refersto | ChinaSecuritiesRegulatoryCommission |
| SSE | Refersto | ShanghaiStockExchange(SSE) |
| Stringer | Refersto | Amachineusedforstringsoldering,includingconventionalstringersandMBBPVCellones. |
| MBBPVCellSolderingStringer | Refersto | AmachineusedforsolderingMBBPVcellswithmorethansixbusbars |
| LaserCuttingMachine | Refersto | Acuttingmachineusedtocutfull-sizedcellsintohalf-cutorsmaller(like1/3-cutand1/4-cut)cells.ItcanbeusedtogetherwiththeCompany’ssolderingstringer,orindividually.Itisappliedtohalf-cutcellsoldering,smallercellsoldering,negativespacingsoldering,etc. |
| WaferInspectionSystem | Refersto | AsystemusedforsortingwafersintheproductionofPVwafers,providedwithintelligentfunctionsincludingdeeplearning,machinevision,andfaultpre-warning. |
| PVCellFiringandPassivationFurnace(LightInduced) | Refersto | Afurnaceseamlesslyconnectingthelightinducedzonetothefiringzonebasedontheexistingfiringtechnologysoastoreducethefootprintandenegryconsumptionofthemachine,whileimprovingtheefficiencyofN-typecell.ItmayadjusttheFermilevel,controlthetotalamountandvalencestateofhydrogen,andenhancethehydrogenpassivation,tosuppresstheLID&LeTIDeffectofP-typecellsorincreasetheconversionefficiencyofN-typecells. |
| MonocrystalGrowthFurnace | Refersto | Amachineusedtoproducemonosiliconingotsrequiredintheproductionofcells.Itisanautomatedmachinethatcanmeltthesiliconmaterialsviathegraphiteresistanceheaterinaninertatmosphereandthengrowdislocation-freemonocrystalsiliconingotsthroughtheCZmethodautomatically. |
| SemiconductorWireBonder/AluminumWireBonder | Refersto | Machinesemployedintheback-endassemblyandtestingprocessesintheproductionofsemiconductors,andaluminumwires,gold,silver,andcopperwiresoraluminumstripsareusedtoconnectPadwithleadwiresviasoldering. |
| ScreenPrintingLine | Refersto | Aprintingsectionwheremetalizedbusbarsareprintedontobluewafers,coveringbluewaferfeed,printing,drying,firingandlight-inducedannealing,inspection,andsorting,thusensuringthatthefinalcellscan |
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| generatepowerinahigh-efficiencyway.Moreover,cellsaresortedandinspectedaccordingtotheirperformanceindicators,soastoprovideenergycarriersforthesubsequentmoduleassembly. | ||
| ESSModule/PACKAssemblyLine | Refersto | Aproductionlinethatassemblesmultipleindividualcellsintoaspecificbatterymodulesviaseries-parallelconnectionaccordingtospecificrequirements,whichisintendedfortheESSmarket,andaproductionlinethatassemblesaspecificbatterypackwithmultiplebatterymodulesviaseries-parallelconnectionasperspecificrequirements.EachoftheSSEModuleAssemblyLineandthePACKAssemblyLinecanbesoldseparatelyorincombination. |
| LEM | Refersto | AmachinedesignedtosignificantlyimprovetheefficiencyofTOPconcellsbyenhancingthecontactbetweentheirmetalfingersandsiliconafterfiringandlight-inducedannealing. |
| AOIMachine | Refersto | AmachineusedtodetectqualitydefectsintheprocessofDieBonding(DB),WireBonding(WB)andPininsertionduringICassemblyandtesting,aswellasvisualanddimensionaldefectsofdie,wire,bond,andDBC.Itismainlyappliedtotheinspectionofframeworkandmodule-basedproducts. |
| SemiconductorDicingSaw | Refersto | Amachineusedforfullyautomateddicinginsectorssuchassemiconductorwafers,integratedcircuits,opticalcommunicationsdevices,andLED.Itisprimarilyusedtodicesiliconwafers,lithiumniobate,ceramics,glass,quartz,aluminumoxide,andPCBboardsandothermaterials. |
| DieBonder | Refersto | Amachineusedfordiebondingintheprocessofsemiconductordeviceassembly,wheredieispastedontoleadframesorsubstrates.Itismainlyappliedtointegratedcircuitsandpowerdevices. |
| CMPMachine | Refersto | Amachineusedintheplanarizationofwafers.Bothmechanicalfrictionandchemicalcorrosionareemployedtoremoveinahigh-efficiencywayexcessmaterialsonthesurfaceofwaferssothatnanoscaleplanarizationcanbeachievedoverall. |
| BCAdhesivePrintingMachine | Refersto | AmachineusedforpretreatmentunitspriortotheweldingofBCmodules,employingtheprintingtechnologytoprintinsulatingandconductiveadhesivesontocellstomakeweldingreliable. |
| BCPrintingLine | Refersto | AprocessusedformetalizationintheproductionofBCcells,includingcellprinting,firing,andsorting,toensurecellsarepreparedinametalizedmanner. |
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SectionIICompanyProfileandMajorFinancialIndicators
I.CompanyProfile
| ChinesenameoftheCompany | 无锡奥特维科技股份有限公司 |
| ChineseabbreviationoftheCompany | 奥特维 |
| EnglishnameoftheCompany | WuxiAutowellTechnologyCo.,Ltd. |
| EnglishabbreviationoftheCompany | Autowell |
| LegalrepresentativeoftheCompany | GeZhiyong |
| Registeredaddress | No.3,XinhuaRoad,XinwuDistrict,Wuxi |
| ChangesintheCompany’sregisteredaddress | ModifiedfromNo.25,ZhujiangRoad,WuxitoNo.3,XinhuaRoad,XinwuDistrict,WuxiinSeptember,2022 |
| Officeaddress | No.3,XinhuaRoad,XinwuDistrict,Wuxi |
| Postcodeofofficeaddress | 214000 |
| Corporatewebsite | http://www.wxautowell.com/ |
| investor@wxautowell.com |
II.ContactPersonsandContactDetails
| Boardsecretary(domesticrepresentativeforinformationdisclosure) | Securitiesaffairsrepresentative | |
| Name | ZhouYongxiu | LiCuifen |
| Contactaddress | No.3,XinhuaRoad,XinwuDistrict,Wuxi | No.3,XinhuaRoad,XinwuDistrict,Wuxi |
| Tel | 0510-82255998 | 0510-82255998 |
| Fax | 0510-81816158 | 0510-81816158 |
| investor@wxautowell.com | investor@wxautowell.com |
III.InformationDisclosureandFilingPlace
| NewspaperschosenbytheCompanyforinformationdisclosure | ChinaSecuritiesJournal,ShanghaiSecuritiesNews,SecuritiesDaily,andSecuritiesTimes |
| Websiteforpublicationoftheinterimreport | www.sse.com.cn |
| PlaceoffilingoftheCompany’sinterimreport | OfficeoftheCompany’sBoardofDirectors |
IV.ProfileofCorporateStock/DepositoryReceipts
(i)Profileofcorporatestock
√Applicable?N/A
| Profileofcorporatestock | ||||
| Stockclass | Stockexchangeandsector | Shortname | Stockcode | Pre-modificationshortname |
| A-share | SSESTARMarket | ATW | 688516 | N/A |
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(ii)Profileofcorporatedepositoryreceipts?Applicable√N/AV.OtherInformation?Applicable√N/AVI.MajorAccountingDataandFinancialIndicators
(i)Majoraccountingdata
Unit:Yuan,Currency:RMBMajoraccountingdata
Thisreporting
period(January-June)
Thesameperiodof
thepreviousyear
YoYincrease/decreaseinthereportingperiod(%)Operatingincome4,417,698,117.262,517,486,369.8675.48Netprofitattributabletoshareholdersofthelistedcom
an
| y |
769,082,688.50522,523,778.9947.19Netprofitattributabletoshareholdersofthelistedcompanyafterdeductionofnon-recurringprofitorloss
772,461,286.17502,569,575.7353.70Netcashflowsfromoperatingactivities
-9,711,098.51268,896,252.11N/ATheendofthereportingperiod
Theendofthepreviousyear
YoYincrease/decreaseattheperiodend(%)Netassetsattributabletoshareholdersofthelistedcompan
4,044,277,936.803,664,156,771.2910.37Totalassets14,947,288,228.5415,617,486,444.78-4.29
Majorfinancialindicators
Thisreporting
perio(ii)Majorfinancialindicators
d(January-June)
Thesameperiodofthepreviousyear
YoYincrease/decrease
inthereporting
period(%)Basicearningspershare(Yuan/share)2.451.6647.59Dilutedearningspershare(Yuan/share)
2.351.6641.57Basicearningspershareafterdeductionofnon-recurringprofitorloss(Yuan/share)
2.461.6053.70Weightedaveragereturnonnetassets(%)
19.2318.95
Upby0.28percenta
yg
epoint
Weightedaveragereturnonnetassets
afterdeductionofnon-recurringprofit
orloss(%)
19.3218.23
Upby1.09percentagepoint
RatioofR&Dexpensestooperatingincome(%)
4.035.16
Downby1.13percentagepointsNote:Theearningspershareinthesameperiodofthepreviousyeararerecalculatedbasedonthesharecapitalbytheendofthisreportingperiod.
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ExplanatorynotesontheCompany’smajoraccountingdataandfinancialindicators
√Applicable?N/A
1.Operatingincomeincreasedby75.48%yearonyear,mainlyattributabletosteadygrowthinsalesthankstocontinuousacceptanceinspectionsforordersinhand,continuedcompetitiveedgesofcoreproductsandimprovedoperatingefficiency.
2.Netprofitattributabletoshareholdersofthelistedcompanygained47.19%yearonyear,mainly
attributabletogrowthinnetprofitasaresultofmoreoperatingincome.
3.Netprofitattributabletoshareholdersofthelistedcompanyafterdeductionofnon-recurringprofit
orlossadded53.70%fromthepreviousyear,mainlyattributabletogrowthinnetprofitasaresultofmoreoperatingincome,andlessnon-recurringprofitorloss.
4.Netcashflowsfromoperatingactivitiessawasharpdeclinefromthepreviousyear,mainly
attributabletothefactthatgrowthinsalesincomeactuallyreceivedwasoutnumberedbytheincreaseinpurchasepaymentsandpayrolls.VII.AccountingDataDifferenceUnderChineseandForeignAccountingStandards?Applicable√N/AVIII.Non-recurringProfitandLossItemsandAmounts
√Applicable?N/A
Unit:Yuan,Currency:RMB
| Non-recurringprofitandlossitems | Amount | Note(ifapplicable) |
| Profitorlossarisingfromthedisposalofilliquidassets,includingwrite-offofprovisionforassetimpairment | -164,407.40 | |
| Governmentsubsidiesincludedinthecurrentprofitorloss(exceptforthosethatarecloselyrelatedtotheCompany’snormalbusinessoperations,asrequiredbynationalpolicies,entitledinaccordancewithestablishedstandards,andhaveasustainedimpactontheCompany'sprofitorloss) | 5,397,451.34 | |
| ApartfromhedginginstrumentsrelatingtothenormaloperationsoftheCompany,profitorlossfromchangeinfairvalueoffinancialassetsandfinancialliabilitiesheldbynon-financialenterprisesandinvestmentincomefromdisposaloffinancialassetsandfinancialliabilities | -20,540,182.44 | |
| Capitaloccupationfeeschargedtonon-financialenterprises,includedinthecurrentprofitorloss | ||
| Profitorlossfromentrustedinvestmentsorassets | ||
| Profitorlossfromconsignmentloans | ||
| Lossofassetsarisingfromforcemajeuresuchasnaturalcalamities | ||
| Reversalofimpairmentprovisionforreceivablessubjecttoaseparateimpairmenttest | 12,627,272.33 | |
| Profitarisingfrominvestmentcostsfortheacquisitionofsubsidiaries,associatesandjointventureslessthantherevenuegeneratedfromtheiridentifiablenetassetsoftheinvestedentityatfairvalueatthetimeofacquisition | ||
| Currentnetprofitorlossofsubsidiariesresultingfromthemergerofenterprisesundercommoncontrolfromthebeginningoftheperiodtothedateofthemerger |
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| Profitorlossfromnon-monetaryassetswap | |
| Profitorlossfromdebtrestructuring | 1,134,950.39 |
| Non-recurringfeesresultingfromhaltedoperations,suchasemployeeplacement | |
| One-offimpactofadjustmentsoflawsandregulationsontaxationandaccountingonthecurrentprofitorloss | |
| One-offshare-basedpaymentarisingfromcancellationormodificationofequityincentives | |
| Profitorlossfromchangesinfairvalueofpayrollpayableaftervestingdateforshare-basedpaymentincash | |
| Profitorlossfromchangesinfairvalueofinvestmentpropertiesusingthefairvaluemodelforsubsequentmeasurement | |
| Profitfromtheexcessoverthefairvalueinatransactionatanobviouslyunfairprice | |
| ProfitorlossfromcontingenciesirrelevanttothenormaloperationsoftheCompany | |
| Custodianfeeincomefromentrustedoperations | |
| Othernon-operatingincomeandexpensesbeyondtheaforesaiditems | -382,006.17 |
| Otherprofitorlossitemsfallingwithinthedefinitionofnon-recurringprofitorloss | |
| Deduction:effectofincometax | -263,166.53 |
| Impactonminorityinterests(aftertax) | 1,714,842.25 |
| Total | -3,378,597.67 |
AnexplanationshallbemadewithregardtotheCompany'sconsiderationsforclassifyingitemsnotincludedintheExplanatoryAnnouncementonInformationDisclosurebyCompaniesOfferingSecuritiestothePublicNo.1—Non-RecurringProfitsandLossesasnon-recurringprofitandlossitemsinvolvinglargeamounts,andnon-recurringprofitandlossitemsincludedintheaboveAnnouncementasrecurringprofitandlossitems.?Applicable√N/AIX.ExplanatoryNotesonPerformanceIndicatorsUnderNon-generallyAcceptedAccountingPrinciples?Applicable√N/A
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SectionIIIManagementDiscussionandAnalysis
I.IntroductiontotheCompany’sIndustryandMainBusinessintheReportingPeriod
(i)Mainbusiness,majorproductsorservices
1.MainbusinessTheCompanyspecializesinR&D,manufacturingandsalesofhigh-endequipment.Itisanewandhigh-techenterprisewithindependentR&Dandsustainableinnovationcapacity,committingtoprovidingitsclientswithhigh-performanceandcost-effectivehigh-endequipmentandsolutions.
2.MajorproductsandservicesTheCompany’sproductsareprimarilyusedinPV,lithium-ionbattery/energystorageindustriesandsemiconductorassemblyandtesting.ItsmainproductsconsistofPVequipmentsuchaslarge,ultra-speedPVCellMBBSolderingStringer(includingOBB/BCSolderingStringer),large,ultra-speedWaferInspectionSystem,BCAdhesivePrintingMachine,BCPrintingLine,ScreenPrintingLine,PVCellLightInducedAnnealingFurnace,LowOxygenMonocrystalGrowthFurnace,power/ESSModule,PACKLine,aswellasPVCellCuttingMachineforsemiconductorassemblyandtesting,AluminumWireBonderandAOIMachine,etc.
Moreover,theCompanyalsorefits,upgrades,andprovidessparepartsforitsclients’existingequipment.
(ii)Mainbusinessmodel
1.Profit-makingmodel
TheCompanymainlymakesaprofitfromincomefromsalesofequipment(mainlyPVequipment,lithium-ionbattery/ESSequipment,semiconductorassemblyandtestingequipmentinthereportingperiod)andancillaryandsparepartsaswellasequipmenttransformationamongothertechnicalservices,afterdeductionofcostsandexpenses.
2.R&Dmodel
Afterunremittingexploration,theCompanycurrentlyhasputinplaceasoundproject-basedR&Dmodel,whichisbrieflysetforthinthefollowingdiagram:
TechnologicalR&DTechnologicaldevelopment
Technologicaldevelopment
Platformdevelopment
Platformdevelopment
Productoptimization
Productoptimization
Corporate
strategy
| Corporatestrategy | Productplanning | IndependentR&D | Projectmanagement |
Salescontract
| Salescontract | Customization |
ProductR&D
TheCompany’sR&DactivitiesinvolveproductR&Dandtechnologicaldevelopment.ProductR&DactivitiesintheCompanycompriseproductplanning,productoptimizationandclientcontract-basedindependentR&D,R&Dforimprovementandcustomization.Technological
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developmentincludesforward-lookingtechnologyR&D(fortechnicalreserveandproofofprinciples,andplatform-baseddevelopmenttargetingmodules/typesthatcanbewidelyapplied.
3.Purchasingmodel
TheCompanypurchasesrawmaterialsinaccordancewithmaterialrequirementsplanninggeneratedfromthemasterproductionschedule(MPS)thatisformedbasedonsalesorders/preliminaryapplications.
AsproductionintheCompanyinvolvesawidevarietyofrawmaterials,theyaredividedintopurchasedpartsandprocessedparts.
TheCompany’spurchasingdivisionissplitintothePurchaseStrategyDepartmentandthePurchaseImplementationDepartment.Theformerisresponsibleforsupplierdevelopment,management,maintenance,andpricenegotiationwhilethelatteristaskedwithfulfillmentofpurchaseplansandmaterialtracking.TheCompanyhassetupalogisticsdepartmenttotakechargeofthestorage,issue,andreceiptofmaterials.
Furthermore,theCompanyhaslaiddownsuchregulationsandproceduresasproceduresforSupplierDevelopmentandApproval,MaterialPlanning,ImplementationofPurchases,AdministrationforMaterialReceipt,andMaterialIssue,toregulateinastrictmannertheimplementationofeverypurchasingprocedure.
4.Productionmodel
(1)In-houseproduction
Inthereportingperiod,theCompanymanufacturesproductsbasedonbothsalesvolumeandsalesforecast.Ingeneralcases,theCompanydeterminesitspurchaseplanandproductionscheduleinaccordancewithordersplacedbyclients.Incircumstanceswhereordersfromsomeclientsarelargeandinvolveshortleadtime,givenacertainperiodoftimeisrequiredforpurchase,production,anddeliveryofequipmentproducts,thecompanymay,afterreceiptofapproval,implementsomesortofproductionofrelativelystandardizedproductsbasedonforecastswithanaimtomaintainthecontinuityandscaleofproduction.
ThemainprocessofproductionintheCompanyisasfollows:itgeneratestheMPSinaccordancewithordersorforecast-basedapplicationsaswellasproductdeliveryplanningandmaterialsupplyscheduling,andfollowstheMPStoworkoutproductionscheduling,materialrequirementsplanningandoutsourcingplanning;theproductiondepartmentistaskedtofinishinstallation,debugging,inspectionoffinishedproductsandproductreceipt;atthetimeofdelivery,tomaketransportationeasier,theCompany’sproductsmaybesplitintosmallermoduleswhicharethenassembledandtestedafterarrivalatclientsites.
(2)Outsourcing
TheCompany’sproductsareprimarilymadebyitself.Toarrangeproductionschedulinginamoreflexiblemanner,andimproveproductionefficiency,theCompanyfollowstheMPStoworkoutoutsourcingplanning,accordingtowhichpartofworksuchaselectricalassemblyisoutsourcedafterpricecomparisonandotherproceduresarefulfilled.
5.Salesmodel
DomesticsalesbytheCompanyareachievedmainlythroughdirectsales,whileoverseassalesarethroughbothdirectsalesanddistribution.TheproceduresofdirectsalesintheCompanymainlycompriseordertaking,production,shipment(includingcustomsclearanceforexports),on-siteinstallationandcommissioning,equipmentinspectionforacceptance,qualityassurance,etc.
Distributionexperiencesthefollowingprocedures.Afterproduction,theCompanytransportsequipmenttothedomesticaddressasstipulatedinthecontract.Thenthedistributoristaskedtofinishcustomsclearanceforexportsandarrangesubsequenttransportation.Afterthearrivalofequipmentattheclientsite,theCompanyisresponsibleforon-siteinstallationandcommissioning,equipmentinspectionforacceptance,andqualityassurance(somedistributorsmayofferassistance).(iii)Industrylandscape
1.Industrialdevelopmentstage,basicfeaturesandmajortechnicalthresholds
1.1PVequipmentindustry
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(1)ThedevelopmentofPVequipmentindustryinrecentyearsCountriesacrosstheworldattachgreatimportancetothedevelopmentofthePVindustry,whichisatoppriorityinthetransformationoftheglobalenergymix.ChinahasledtheworldformanyyearsinarowinnewlyinstalledcapacityofPVpower.DatafromChina’sNationalEnergyAdministrationshowthatfromJanuarytoJune2024,China’snewlyinstalledcapacityofPVincreasedby30.7%year-on-yearto102.48GW,andthefigureinJunealoneamountedto23.33GW,upby35.6%yearonyearand22.5%monthonmonth.Despitetheincreasinginstalledcapacity,thePVindustrycurrentlyfacesastarkchallengefromexcesscapacity.ThePVindustryinthefirsthalfof2024presentedamixedpicture.WhilecapacityinthePVsectorcontinuedtoratchetup,relatedproductssufferedpricedeclines.Poly-Siandwaferpriceshaveshedover40%,comparedwithamorethan15%declineincellandmoduleprices.Thevalueofoutput(excludinginverters)acrosstheindustrychaindeclined36.5%fromthepreviousyearwhiletheexportamountdropped35.4%yearonyear.Stillandall,thePVindustryisexpectedtohaveapromisingfutureinthelongrun.Withcontinuingtechnologicaladvancesanddecliningcosts,PVenergywillbewidelypromotedandapplied,anditsleadershipincleanenergysolutionswillbefurthercemented.
A.IntroductiontoPVequipmentindustryIncreasedinstalledcapacityinthePVsectorhasledtoproductionexpansionacrosstheindustrychain.Furthermore,continuoustechnologicalprogressinallPVproceduresacceleratesproductioncapacityreplacement.Marketdemandforequipmentderivesfromtheneedforproductionexpansionandreplacement.SincethePVindustryfacesoverproductionforthetimebeing,demandforPVequipmentissubduedinsomeway.Whiletechnologicaliterationcantriggernewdemandforequipmentinsomeprocedures,demandforequipmenthasshrunkmoderately,asequipmenttechnologicaliterationfortheaboveequipmentusuallyconsumesalongtime.
B.TheeffectoftechnologicaladvancesonthePVequipmentindustryThedevelopmentofChina’sPVequipmentindustryiscloselyrelatedtotechnologicalprogress.TomakeprogressinthePVindustry,itisalwayscrucialtoimprovephotoelectricconversionefficiencyandcutproductioncosts.In2024,LECO/LIF,whichperformswellinefficiencyimprovement,isuniversallyappliedintheproductionofTOPCON;cell-andmodule-sideSMBB/OBBhavebeenfurtherpromotedandused;anumberofcompanieshaverolledoutBCcellsovertime;perovskiteandperovskitelaminationtechnologyhavegarneredgrowingattention.Newtechnologiesandprocessescanmatureandbepopularizedrapidly.Awell-developednewtechnologyorprocesscanseeincreasingpenetrationinashorttime.Therefore,PVequipmentsuppliersneedtolaunchnewproductsinlinewithprevalenttechnologiesinthePVindustrytomaketechnologicalprogress.
(2)TrendsoftechnologicalinnovationinthePVequipmentindustry
Improvingphotoelectricconversionefficiencyandcuttingproductioncostsisnotonlyatechnicalpriority,butalsoanapproachtofuturedevelopmentinthePVindustry.Likewise,newproductsshouldbelaunchedonacontinualbasisinthePVequipmentindustrysoastocatertotheneedfortechnologicaladvancesinthePVindustry.Inyearstocome,technologicalinnovationsinthePVindustrywillbemainlyhallmarkedbythefollowingtrends:
A.N-typecellsandcorrespondingequipmentwilldrawmarketattentionovertime
AccordingtotheforecastofCPIAonchangesinaverageconversionefficiencyofcelltechnologiesofallkindsfrom2021to2030,asPERCcells’conversionefficiencycontinuestoimproveanddrawsneartothetheoreticallimit,N-typecelltechnology,whichexcelsinefficiency,willbeprioritizedamongothertechnologies.N-typecellsmainlycompriseTOPConMono-SiCell,HJTCell,andXBCCell.
B.Cellprocessingmethodswillco-exist,withPVcellefficiencyequipmentbeingthefocus
Duetomarketrequirementsforcostreductionandefficiencyimprovement,newequipmentaimedatefficiencyimprovementwillemergeasPVtechnologycontinuestoevolve.Suchequipmentfailedtoworkunderoutdatedtechnology,whilewithtechnologicaladvancesinthePVindustry,suchequipmentwillstarttoplayaroleinhelpingN-typetechnologybecomemoreefficient,anddemandforsuchequipmentintheindustrywillbeboosted.
C.Busbarprintingtechnologywillcontinuetoprogress,andnewprintingtechnologieswill
emerge
Currently,almostallmetalliccellbusbarsarepreparedthroughscreenprinting,whichwillremainthemainstreamtechniqueintheyearstocome.Busbarmanufacturersandequipmentmakershavebeguntodevelopothermetallicprintingtechnologiessuchasstencilprinting,electroplating,lasertransfer
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printingandinkjetprinting.Ascostreductionandefficiencyimprovementarepursuedintheindustry,demandformorecompetitivetypeswithhighaspectratiossuchasOBBwillcontinuetopickup,andnewtechnologiestopreparecellbusbarswillemerge.
1.2Lithium-ionbattery/ESSModule/PACKlineindustryDuetotheacceleratedtransformationofrenewableenergyacrosstheworld,ESSpolicies,andabettermarketenvironment,ESSmarketdemandcontinuestoriseglobally.GGIIforecaststhattheshipmentoflithium-ionbatteriesforenergystoragefor2024isexpectedtosurpass240GWh,withelectricalenergystoragetobethelargestdriverfor2024growth.Inthedomesticmarket,theinstalledcapacityofwindandPVpowersustainedahighgrowth.AccordingtodatafromtheNationalEnergyAdministration,China’snewlyinstalledcapacityofwindandPVpowerfromJanuarytoJune2024gained26.5%yearonyearto128.3GW.AsshowninthestatisticsbyChinaEnergyStorageAlliance(CESA),China’snewlyinstalledcapacityofnewtypesofenergystoragefromJanuarytoJune2024hit
26.4GWh,upby48.5%yearonyear.Inoverseasmarkets,theUSAacceleratesthepaceofenergystorageprojectsandseesrobustgrowthinlarge-sizedinstallationsthankstotheimprovedeconomicalperformanceandhigherdemandforrenewableenergy.Europeisnowoneofthefastest-growingmarketsasmanycountrieshaverolledoutsupportpoliciesandafewGWh-levellargeenergystorageprojectsareunderway.
1.3DomesticsemiconductorassemblyandtestingequipmentindustryAccordingtotheSEMIreport,theback-endequipmentsectorisexpectedtorecoverinthesecondhalfof2024followingtwoyearsofcontractionstemmingfromweaksemiconductordemand.Thesalesofsemiconductortestingequipmentin2024areestimatedtoincreaseby7.4%toUSD6.7billion,whilethefigureforassemblyequipmentisprojectedtoriseby10.0%toUSD4.4billion.Additionally,back-endnichemarketsareexpectedtogainmomentumin2025whenthesalesoftestingequipmentandassemblyequipmentwillsurgeby30.3%and34.9%,respectively.Growthinthesenichemarketswillbebolsteredbytheincreasingcomplexityofsemiconductordevicesusedforhigh-performancecomputingaswellasanticipatedrecoveryindemandfromend-usemarketssuchasautomobile,industryandconsumerelectronics.Theglobalsalesofsemiconductormanufacturingequipmentin2024areestimatedtohitUSD109billion,edgingupby3.4%yearonyear.In2024,thesemiconductorassemblyequipmentindustryseesintensifyingcompetitionasthemarketsizegetsbigger.Intheprocess,largeinternationalcompanies,whichnowenjoycompetitiveadvantages,willfacerivalryfromChina’slocalplayers.China’sassemblyequipmentcompaniesarestillreliantonimportsformanufacturingequipmentsuchasbonders,cutters,diebondersandAOI,sotheimportedequipmentremainstobereplacedbydomesticproducts.
2.AnalysisoftheCompany’sindustrypositionanditschanges
1.MarketpositionoftheCompany’sPVequipmentproductsTheCompanyisanichemarketleaderinthePVequipmentindustry.Itsmajorproductsinthereportingperiodcomprisedthelarge,ultra-speedPVCellMBBSolderingStringers,thelarge,ultra-speedWaferInspectionSystem,theScreenPrintingLine,theLaser-assistedFiringFurnace,theBCAdhesivePrintingMachine,theBCPrintingLine,thePVCellLightInducedAnnealingFurnace,theLowOxygenMonocrystalGrowthFurnaceamongotherPVequipment.Amongthem,large,ultra-speedPVCellSolderingStringerandWaferInspectionSystem,twoflagshipproducts,boastremarkablecompetitiveadvantagesinseparatenichemarkets,LowOxygenMonocrystalGrowthFurnacebeginstostandoutinmarketcompetition,andScreenPrintingLinesecuresanincreasingmarketshare.
(1)MarketpositionoftheCompany’sSolderingStringerSolderingstringerisanessentialpieceofequipmentintheproductionofPVmodules.Withamarketshareofover60%,theCompanyisamarketleaderthathassuppliedsolderingstringersformorethan600productionbasesacrosstheworld.AlltheglobaltoptensuppliersofPVmodulesweretheCompany’sclientsinthereportingperiod.
(2)MarketpositionoftheCompany’sWaferInspectionSystemTosatisfythevariedneedsofclients,theCompanyneverceasestopursueinnovationinitsWaferInspectionSystem,whoseoutstandingperformanceisrecognizedbyclientsacrosstheworld.AllmajorwafermanufacturersgloballysuchasLONGi,GokinSolarandHYSolarbuywaferinspectionsystemsfromtheCompany.
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2.MarketpositionoftheCompany’sLithium-ionbattery/ESSModule/PACKLineTheCompany’smodule/PACKlineforlithium-ionbatteryenergystoragehasbeenboughtbyCRRCZhuzhouInstitute,HyperStrong,Highstar(US),etc.
3.MarketpositionoftheCompany’ssemiconductorassemblyandtestingequipmentAsforAluminumWireBonderandAOI,inthefirsthalfof2024,theCompanycontinuedtoreceivebulkorders,andsawaremarkableriseinordersandincreasingrepeatedpurchases.
3.Developmentofnewtechnologies,sectors,businesstypes,andmodelsinthereportingperiodandfuturetrends
3.1NewtechnologiesAgainstthebackdropofacceleratingadvancesinthePVcelltechnology,theCompanyprioritizesthedevelopmentofOBBandBCtechniquesforN-typecellsaswellasthelaser-assistedfiringtechniquethatcanhelpimproveconversionefficiency.TheapplicationofsuchtechniqueshaspavedasolidtechnicalfoundationfortheCompanytodevelopnewproducts.
3.2Developmentofnewsectors,businesstypesandmodels,andfuturetrendsAftermorethanadecadeofdevelopment,thePVindustryhasemergedasoneofthefewstrategicindustriesthatboastinternationalcompetitiveadvantagesandend-to-endautonomouscontrol,andwillhopefullyleadthehigh-qualitydevelopmentdrive.Furthermore,thesectorplaysanimportantroleinacceleratingChina’senergytransformation.China’sPVindustrycurrentlyranksamongthetopintheworldintermsofmanufacturingscale,industrializationtechnology,applicationexpansion,andbuildingofindustrialsystems.
Asforproductefficiency,theconversionefficiencyofprevalentN-typecellshastopped25.0%.Withthereductioninproductioncostsandyieldenhancementinthefuture,theN-typecelltechnologywillbeprioritizedamongothertechnologies,andefficiencywillbeimprovedrapidly.Inregardtotechnicalroutes,thetechnologyaimedatminimizing/stoppingtheuseofsilverpastewillbefurtherpromoted,andthelabefficiencyofperovskite/perovskitelaminatedcellswillbeimproved.II.CoreTechnologyandR&DProgress
1.Coretechnologiesandtheiradvancednature,andchangesinthereportingperiod
TheCompany,anR&D-drivencompany,haschanneledenormousresourcesintoR&DonacontinualbasistoputinplaceanR&Dsystem,whichiscomposedoffourcorefundamentaltechnologiesandeightcoreappliedtechnologies.ThesetechnologiesareappliedtomakeseveralcoreproductsintheCompany’smainbusiness,helpingshapethesystemofitscoreproductsonPVwafers,cells,andmodules.Tokeepitscoretechnologiesadvanced,theCompanyworksunremittinglytofollow
technologicaldynamicsacrosssuchindustrychainsasPV,electrochemicalenergystorage,andsemiconductorassemblyandtesting,andfocusonnewtechnologiesindownstreamapplicationindustries.AfteryearsofcontinuousR&Dinputandtechnologyaccumulation,theCompanyhasestablishedcoretechnologysystemsonseriesweldingforPVmodules,lasercutting,PVcellprocessing,precisioninspectionforwafers,Mono-Siingotgrowth,lithium-ionbattery/ESSmoduleassembly,visualinspectionforcell,semi-conductorwirebondingtechnology,etc.TheCompany’scoretechnologiesaresetoutinthefollowingtable:
CorefundamentaltechnologiesappliedApplicationsectorsSourcesof
coretechnologiesLow-stresshigh-speedclosed-loopinfraredwelding
technology
self-developed
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| AdvancedPVcellsolderingtechnologies | Precisionliquidspraying | PVmoduleequipment | self-developed |
| Precisionmechanicaldesigntechnologyforintelligentequipment | self-developed | ||
| Multi-axishigh-speedmotioncontroltechnology | self-developed | ||
| Intelligentinspectionandpositioningtechnologyformachinevisionthatappliestospecifiedtargets | self-developed | ||
| Thetechnologyofhigh-speedtransferbyrobotsthatappliestospecialmaterials | self-developed | ||
| Industrialsensorapplicationtechnologyforspecifiedscenarios | self-developed | ||
| PrecisionlaserweldingtechnologyforPVmodules | self-developed | ||
| LasertransferandcodingtechnologyforPVglasssurface | self-developed | ||
| Self-adaptiveresonancehigh-frequencyinductionweldingtechnology | self-developed | ||
| Negativespacingsolderingtechnologies | Micron-levelhigh-precisionlaser-cuttingtechnology | PVmodulelaminationequipment | self-developed |
| Precisionliquidsprayingtechnology | self-developed | ||
| Low-stresshigh-speedclosed-loopinfraredweldingtechnology | self-developed | ||
| Precisionmechanicaldesigntechnologyforintelligentequipment | self-developed | ||
| Multi-axishigh-speedmotioncontroltechnology | self-developed | ||
| Intelligentinspectionandpositioningtechnologyformachinevisionthatappliestospecifiedtargets | self-developed | ||
| Thetechnologyofhigh-speedtransferbyrobotsthatappliestospecialmaterials | self-developed | ||
| Industrialsensorapplicationtechnologyforspecifiedscenarios | self-developed | ||
| Industrialsoftwaredesigntechnologyforintelligentequipmentoperationsurveillance | self-developed | ||
| High-speedandmulti-protocolindustrialcommunicationapplicationtechnology | self-developed | ||
| PVcelllasercuttingtechnology | Micron-levelhigh-precisionlaser-cuttingtechnology | PVcellequipment | self-developed |
| Precisionmechanicaldesigntechnologyforintelligentequipment | self-developed | ||
| Multiaxishigh-speedmotioncontroltechnology | self-developed | ||
| Intelligentinspectionandpositioningtechnologyformachinevisionthatappliestospecifiedtargets | self-developed | ||
| Industrialsensorapplicationtechnologyforspecifiedscenarios | self-developed | ||
| Thetechnologyofprecisionsplittingwithlaser-inducedthermalstress | self-developed | ||
| AdvancedPVcellprocessingtechnologies | Precisionmechanicaldesigntechnologyforintelligentequipment | self-developed | |
| Multi-axishigh-speedmotioncontroltechnology | self-developed | ||
| Industrialsensorapplicationtechnologyforspecifiedscenarios | self-developed | ||
| Industrialsoftwaredesigntechnologyforintelligentequipmentoperationsurveillance | self-developed | ||
| Low-invasiveornon-destructivelaserscoringtechnology | self-developed | ||
| Low-invasiveornon-destructivelaserdopingtechnology | self-developed | ||
| High-precisiondualgalvanometerscanningcontroltechnology | self-developed | ||
| Mono-SiingotgrowthtechnologiesthroughCZmethod | Imageanalysisandprocessingtechnologyformachinevisual | PVwaferequipment | self-developed |
| Mono-SigrowthtechnologyunderPIDtemperature | self-developed |
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TheCompanycontinuestodevelopmoreadvancedandnewertechnologiesonthebackoftheabovetechnologies,hashightechnicalthresholds,andmaintainsitstechnicalstrength.Inaddition,thesecoretechnologiesdidn’texperienceunfavorablechangesinthereportingperiod.WhethertheCompanyhasreceivedanynationalscienceandtechnologyawards??Applicable√N/AWhethertheCompanyhasbeenratedasanational-levelLittleGiantEnterpriseofSRDIoranenterpriseleadinganindividualfieldofthemanufacturingindustry??Applicable√N/A
2.R&Dachievementsinthereportingperiod
Inthefirsthalfof2024,theCompanyobtained193piecesofintellectualpropertyincluding100inventionpatents,74utilitymodelpatents,and11softwarecopyrights.ByJune30,2024,theCompany
| control | |||
| Thermalanalysistechnologyforfluids | |||
| Industrialsoftwaredesignforintelligentequipmentoperationsurveillance | self-developed | ||
| Intelligentfeedingtechnology | self-developed | ||
| PVwaferprecisioninspectiontechnology | High-speedprecisionopticalandelectricalinspectiontechnology | PVwaferequipment | self-developed |
| High-speedflyinglasercodingtechnology | self-developed | ||
| Lithium-ionbattery/ESSmodule | Multipleself-adaptiveprecisionlaserweldingtechnology | Lithium-ionbattery/ESSequipment | self-developed |
| Dual-waveformmulti-pointhigh-speedresistanceweldingtechnology | self-developed | ||
| High-speedprecisionopticalandelectricalinspectiontechnology | self-developed | ||
| Precisionmechanicaldesigntechnologyforintelligentequipment | self-developed | ||
| Multi-axishigh-speedmotioncontroltechnology | self-developed | ||
| Intelligentinspectionandpositioningtechnologyformachinevisionthatappliestospecifiedtargets | self-developed | ||
| Thetechnologyofhigh-speedtransferbyrobotsthatappliestospecialmaterials | self-developed | ||
| Industrialsensorapplicationtechnologyforspecifiedscenarios | self-developed | ||
| Industrialsoftwaredesigntechnologyforintelligentequipmentoperationsurveillance | self-developed | ||
| High-speedandmulti-protocolindustrialcommunicationapplicationtechnology | self-developed | ||
| Li-ionbatteryappearanceinspectiontechnologies | High-speedprecisionopticalandelectricalinspectiontechnology | self-developed | |
| Semi-conductorwirebondingtechnologies | High-speedandhigh-frequencyultrasonicweldingtechnology | Semiconductorequipment | self-developed |
| Precisionelectricalinspectiontechnologyforcomplicatedindustrialenvironment | self-developed | ||
| Precisionmechanicaldesigntechnologyforintelligentequipment | self-developed | ||
| Multiaxishigh-speedmotioncontroltechnology | self-developed | ||
| Intelligentinspectionandpositioningtechnologyformachinevisionthatappliestospecifiedtargets | self-developed | ||
| Industrialsensorapplicationtechnologyforspecifiedscenarios | self-developed | ||
| Industrialsoftwaredesigntechnologyforintelligentequipmentoperationsurveillance | self-developed |
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hasbeengrantedacumulativetotalof1,808piecesofintellectualpropertyincluding211inventionpatents,1,296utilitymodelpatents,117softwarecopyrights,and3industrialdesignpatents.Statisticsofintellectualpropertyobtainedinthereportingperiod
| Additionsinthereportingperiod | Cumulativetotal | |||
| Numberofapplications | Numberofratifications | Numberofapplications | Numberofratifications | |
| Inventionpatents | 65 | 100 | 611 | 211 |
| PCTinternationalstage | 2 | 0 | 10 | 0 |
| Utilitymodelpatents | 219 | 74 | 1,597 | 1,296 |
| Industrialdesignpatents | 1 | 0 | 9 | 3 |
| Softwarecopyrights | 13 | 11 | 120 | 117 |
| Others | 13 | 8 | 194 | 181 |
| Total | 313 | 193 | 2,541 | 1,808 |
3.StatisticsofR&Dinputs
Unit:Yuan
| Amountinthereportingperiod | Amountinthesameperiodofthepreviousyear | Rateofchange(%) | |
| R&Dexpenses | 178,114,245.75 | 130,002,217.29 | 37.01 |
| CapitalizedR&Dinput | 0 | 0 | 0 |
| TotalR&Dinputs | 178,114,245.75 | 130,002,217.29 | 37.01 |
| RatiooftotalR&Dinputtooperatingincome(%) | 4.03% | 5.16% | Downby1.13percentagepoints |
| ShareofcapitalizedR&Dinput(%) | 0 | 0 | 0 |
AnyreasonbehindadrasticchangeintotalR&Dinputscomparedwiththepreviousyear?
√Applicable?N/ATheCompany’sR&Dinputsawayear-on-yearincreaseof37.01%inthefirsthalfof2024,mainlyattributabletotheCompany’sdecisiontostepupR&Dinputandintroducehigh-levelR&Dpersonnel,theincreaseinthenumberofR&Dpersonnelfrom777to922,andtheriseintheremunerationofR&DpersonnelfromRMB84.15milliontoRMB125.88million,gainingRMB41.73millionorupby49.58%fromthepreviousyear.AnyreasonbehindadrasticchangeintheshareofcapitalizedR&Dinputandjustification??Applicable√N/A
4.DetailsofprojectsunderongoingR&D
√Applicable?N/A
Unit:millionYuan
| No. | Project | Est.totalinves | Investmentinthe | Cumulativeinvest | Progressoroutcom | Intendedtargets | Technologicalcompetence | Prospectiveapplicatio |
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| tment | reportingperiod | mentamount | es | n | ||||
| 1 | LargecellSolderingStringer | 3.30 | 0.33 | 0.33 | Prototypebeingontrial | 1.Fullcellsproductioncapacity:10,800half-cutcells/hour2.Compatiblecells:PERC,TOPConandHJT3.Cellspec:158–230mm,rectangular4.Numberofbusbars:6–24BB | 1.Fullcellsproductioncapacity:>10,800half-cutcells/hour2.Applicablecells:PERC,TOPConandHJT3.Cellspec:158–230mm,rectangular4.Numberofbusbars:6–24BB | PVmodulesoldering |
| 2 | PVBackContactCellStringer | 24.62 | 3.54 | 18.99 | Prototypebeingontrial | 1.Fullcellsproductioncapacity:7,200fullcells/hour/dual-line2.Compatiblecells:P-typeandN-typeBCcells3.Crackratio:≤0.1%4.Cellspec:163–230mm,compatiblewithrectangularcells5.Numberofbusbars:6–24BB | 1.Fullcellsproductioncapacity:6500fullcells/hour/dual-line2.Compatiblecells:P-typeandN-typeBCcells3.Crackratio:≤0.1%4.Cellspec:163–230mm,compatiblewithrectangularcells5.Numberofbusbars:6–24BB | PVmodulesoldering |
| 3 | AutomaticPVStringRepairMachine | 3.52 | 0.65 | 0.65 | Massproduction | 1.Repairtempo≤40S/piece2.Repairyield≥95%3.Compatiblecellspec:156–230mm4.Compatiblecellthickness≥110μm | 1.Repairtempo≤40S/piece2.Repairyield≥95%3.Compatiblecellspec:156–230mm4.Compatiblecellthickness≥110μm | PVstringrepair |
| 4 | CellLineEquipment | 63.19 | 6.20 | 35.28 | Stageofverification | 1.CT≤0.80s2.Printingaccuracy:≤±6um3.Maximumprintingspeed:≤700mm/s4.Crackratio:GradeAMono-Si≤0.05% | 1.CT≤0.80s2.Printingaccuracy:≤±6um3.Maximumprintingspeed:≤600mm/s4.Crackratio:GradeAMono-Si≤0.1% | Printingequipmentforcellsofallkinds |
| 5 | CellScreenPrintingLineEquipment | 27.85 | 4.64 | 5.46 | Stageofverification | 1.CT≤0.8s2.Crackratio≤0.08%3.Uptime>98% | 1.CT≤0.85S2.Crackratio≤0.1%3.Uptime>98% | Printingandadhesiveprintingscenariosforcellsofallkinds |
| 6 | CellAnnealin | 17.83 | 2.14 | 13.44 | Application | 1.Production | 1.Production | Metalizationand |
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| gEquipment | expansion | capacity:≥9600Pcs/h@1822.Uptime≥99%3.Crackratio≤0.01%@1824.Efficiencygain≥0.2% | capacity:≥9200Pcs/h@1822.Uptime≥99%3.Crackratio≤0.01%@1824.Efficiencygain≥0.2% | efficiencyincreaseforN-typecells | ||||
| 7 | MetalizedandAdvancedLaserProcessingEquipment | 9.42 | 4.39 | 7.81 | Stageofverification | 1.CT≤0.75s2.Efficiencygain≥0.35% | 1.CT≤0.75s2.Efficiencygain≥0.3% | MetalizationandefficiencyincreaseforN-typecells |
| 8 | WireBonder | 14.72 | 3.10 | 3.88 | Stageofdevelopment | 1.UPH:11K2.Wirebondingarea:80*100mm3.Wirebondingaccuracy:3μm@3sigma4.Wirebondingmaterial:4–20milaluminumwire,80*10milaluminumtape,and5–20milcopperwire | 1.UPH:≥11K2.Bondingarea:80*100mm3.Bondingmaterial:4–20milaluminumwire,80*10milaluminumtapeand5–20milcopperwire | Semiconductorbonding |
| 9 | SemiconductorDieBonder | 29.49 | 0.99 | 4.03 | Stageofdevelopment | 1.UPH:16k2.Wafer:8/12inch3.Chipsize:0.5*0.5mm-10*10mm | 1.UPH:14k2.Wafer:8/12inch3.Chipsize:1*1mm-10*10mm | Semiconductorassembly |
| 10 | SemiconductorInspectionSystem | 17.54 | 1.97 | 7.06 | Massproduction | 1.UPH:2D≥2000mm?/S3D≥500mm?/S2.Itemsforinspection:dieposition,dieappearance,solderdefects,bodingwiredefectsandsubstratedefects3.Inspectionprecision:±5μm@3σ | 1.UPH:2D≥2000mm?/S3D≥500mm?/S2.Itemsforinspection:dieposition,dieappearance,solderdefects,bodingwiredefectsandsubstratedefects3.Inspectionprecision:±5μm@3σ | Semiconductorassemblyinspection |
| 11 | SemiconductorCuttingMachine | 14.36 | 3.09 | 6.70 | Prototypebeingontrial | 1.Processedwafersize310mmmroundshaped2.Y-axisvisualaccuracy≤1um3.X-axisstraightnessaccuracy≤3um4.Y-axisaccuracy≤2um | 1.Processedwafersize300mmmroundshaped2.Y-axisvisualaccuracy≤1um3.X-axisstraightnessaccuracy≤3um4.Y-axisaccuracy≤2um | Semiconductorcutting |
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| 5.Compatiblewith12-inchandsmallerwafers | 5.Compatiblewith12-inchandsmallerwafers | |||||||
| 12 | SemiconductorCMPEquipment | 47.50 | 9.19 | 15.60 | Prototypedevelopment | 1.Removalafterprocessing:300–500nm2.Variationintotalthickness:-25–+40nm3.Siteflatness:-10–+15nm4.Edgecrimpness:-100–+105.Nanotopography(0.5×0.5):≤46.Metalresidue:<1E9 | 1.Removalafterprocessing:300–500nm2.Variationintotalthickness:-25–+40nm3.Siteflatness:-10–+15nm4.Edgecrimpness:-100–+105.Nanotopography(0.5×0.5):≤46.Metalresidue:<1E9 | Finalpolishingfor12-inchsiliconsubstrates |
| 13 | CuttingandFoldingAll-in-oneMachine | 50.00 | 7.41 | 22.67 | Stageofverification | 1.Polarpieceprocessingcapacity≤0.15s/p2.Centralalignmentmetricsforlaminatedpolepieces≤±0.5mm | 1.Polarpieceprocessingcapacity≤0.16s/p2.Centralalignmentmetricsforlaminatedpolepieces≤±0.5mm | Laminationforpositiveandnegativepolarpieces |
| 14 | MonocrystalGrowthFurnace | 74.48 | 8.70 | 34.75 | Applicationexpansion | 1.Averageisometricpullingrate:12-inchrod≥1.7mm/min,10-inchrod≥2.0mm/min2.Compatiblewithhotzone32–40inches3.Thediameterofcompatiblerodscanbeextendedto350mm4.Roddiameterfluctuationrange:±0.5mm5.Oxygencontentreduction≤6ppm | 1.Averageisometricpullingrate:12-inchrod≥1.6mm/min,10-inchrod≥1.9mm/min2.Compatiblewithhotzone32–40inches3.Thediameterofcompatiblerodscanbeextendedto350mm4.Roddiameterfluctuationrange:±0.5mm5.Oxygencontentreduction≤7ppm | PVMono-Sirod |
| 15 | ContinuousLoder | 6.42 | 0.29 | 0.47 | Stageofdevelopment | 1.Loadingvolume800kgforstandardtypes,customizationacceptable2.Loadingspeed:350g/min,±10g/min3.One-to-onesettingwithMono-SiFurnace,automaticloadingcanbeachievedin | 1.Loadingvolume600kgforcustomizedtypes2.One-to-onesettingwithMono-SiFurnace,automaticloadingcanbeachievedintheprocessofcrystalgrowth3.Loadingofgranularsiliconcanbemet | RealtimeloadingintheprocessofcrystalgrowththroughMono-SiFurnace |
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| theprocessofcrystalgrowth4.Loadingofgranularsiliconcanbemet | ||||||||
| 16 | SemiconductorMono-SiFurnace | 27.32 | 1.19 | 6.23 | Stageofdevelopment | Siliconcarbidecrystalgrowth:1.Siliconcarbidegrowthsize:8inch2.Pullingrange≥350mm3.Requiredpullingspeed:0.01-30mm/hSemiconductorcrystalgrowth:4.Magneticallypulledrod:Φ360-Φ600mm,length≥3,300mm | Siliconcarbidecrystalgrowth:1.Siliconcarbidegrowthsize:6inch2.Pullingrange≥350mm3.Requiredpullingspeed:0.01-20mm/hSemiconductorcrystalgrowth:4.Magneticallypulledrod:Φ360-Φ600mm,length≥3,000mm | Siliconcarbidecrystalgrowthforthethirdgenerationofsemiconductors |
| Total | / | 431.55 | 57.82 | 183,36 | / | / | / | / |
5.DetailsofR&Dpersonnel
Unit:millionYuan,Currency:RMB
| Basicinformation | ||
| Amountinthecurrentperiod | Amountinthesameperiodlastyear | |
| NumberofR&DpersonnelintheCompany | 922 | 777 |
| ShareofR&Dpersonnelintotalheadcount(%) | 18.85 | 17.17 |
| TotalremunerationofR&Dpersonnel | 125.88 | 84.15 |
| AverageremunerationofR&Dpersonnel | 0.14 | 0.12 |
Educationalbackground
| Educationalbackground | ||
| Degrees | Number | Percentage(%) |
| Doctor’sdegree | 6 | 0.65% |
| Master’sdegree | 170 | 18.44% |
| Bachelor’sdegree | 576 | 62.47% |
| Juniorcollegeeducation | 167 | 18.11% |
| Belowjuniorcollegeeducation(excludingjuniorcollegeeducation) | 3 | 0.33% |
| Total | 922 | 100.00% |
| Agecomposition | ||
| Agerange | Number | Percentage(%) |
| Agedbelow30(excluding30) | 344 | 37.31% |
| Aged30-40(including30,excluding40) | 526 | 57.05% |
| Aged40-50(including40,excluding50) | 40 | 4.34% |
| Aged50-60(including50,excluding60) | 8 | 0.87% |
| Agedover60 | 4 | 0.43% |
| Total | 922 | 100.00% |
6.Othernotes?Applicable√N/A
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III.AnalysisofCoreCompetitivenessintheReportingPeriod(i)Analysisofcorecompetitiveness
√Applicable?N/A
1.Technologicalstrength
(1)TheCompanyhasscoredabundanttechnologicalachievementsTheCompany,whichisanewandhigh-techenterprisespecializinginR&D,production,andsalesofhigh-endintelligentequipmentandhighlyvaluesR&Dinputandtechnologicalinnovation,hassetupalargeR&Dteamcomposedofexperiencedpersonnelandreapednumeroustechnologicalachievementswithproprietaryintellectualpropertyrights.ByJune30,2024,theCompanyhad922R&Dstaffmembers,representing18.85%ofthetotalnumberofemployees.ByJune30,2024,theCompanyhasbeengrantedacumulativetotalof1,808piecesofintellectualpropertyincluding211inventionpatents,1,296utilitymodelpatents,117softwarecopyrights,and3industrialdesignpatents.
(2)TheCompanyistechnicallycompetenttohaveexistingproductsquicklyiteratedandlaunchnewproductsinaforward-lookingmannerPursuing“highproductioncapacity,highaccuracy,highcompatibility,andhighstability”duringitsR&Dandleveragingitsprofoundtechnicalaccumulation,theCompanyhasachievedquickiterationandforward-lookingplanningfortechnologiesbymakingpromptresponsestorealisticandpotentialneedsfromclientsandcontinuingwithintensiveR&Dinput.Firstly,theCompanyhasupgradeditsexistingproductstoimproveproductionperformance.Beyondconventionaltypes,itsSolderingStringer,WaferInspectionSystem,LowOxygenMono-SiFurnace,etc.haveallseenasubstantialimprovementinperformance,accuracy,andefficiency.
Secondly,theCompanyhasworkedhardtodevelopnewequipmentaimedatcostreductionandefficiencyincrease.Inthefirsthalfofthisyear,theCompanylaunchedOBBSolderingStringer,whichconsumes10%lesssilverpaste,thusprovidinganewoptionforclientstocutcostsandimproveefficiency.
Thirdly,theCompanyhasrolledoutmorecoreequipmentforsemiconductorassemblyandtestingtomeetclientneedsforfulllines.TheCompanydevelopedthe12-inchWaferLaserCutterandthe12-inchEpoxyDieBonderin2023tobroadentherangeofitsassemblyandtestingproductsandmeetclientdemandforfullassemblyandtestinglines.
Throughquickiterationofexistingproductsandforward-lookingplanningfornewproducts,theCompanyhasnotonlybecomemorecompetitiveinthemarketbutalsohelpeditsclientscreateaddedvalue,thusfacilitatingtechnologicaladvancesinthedownstreamindustry.
2.Productstrength
(1)TheCompany’sproductsexcelinperformance
TheCompanycontinuesitseffortstodevelopcutting-edgetechnologies,prioritizeshighoutput,highyield,applicationofintelligenttechnologyandcompatibilitytopursueinnovationinacompleterangeofproducts,andenjoysoveralltechnicalleadershipintheindustry.TheCompany’sproductsarecharacterizedbyhighproductioncapacitypermachine,highyield,andmoreintelligentoperation.TheCompany’slatestMBBSolderingStringerisconsistentlyabletoprocess10,800half-cutwafers/h(calculatedinaccordancewithwelding210-inchwafersaftercutintohalves).Furthermore,ithasrolledoutproductsthatintegratecutting,layup,andstackinginordertoaccomplishhighyieldapartfromhighproductioncapacity.Withacapacityof18,000pieces/h(calculatedinaccordancewith182mmwafers),theWaferInspectionSystemisprovidedwiththesmartabilitytoanalyzeinasystemicwayshutdowntime,maldistribution,downtime,etc.TheLowOxygenMono-SiFurnace,whosepullingratehashit
1.6mm/min(calculatedbasedon12-inchrods),canattainoxygencontentat6-7ppmtoimprovethequalityofcrystalsandenableone-clickcrystalgrowth.Boastingacapacityof15-20PPM,theESSModule/PACKLinepridesitselfonanautomationrateof95%.TheCompany’sproducts,whichfeaturestableperformanceandhighyield,canmeetclientrequirementsforhighproductioncapacityandquality,andhelpitsclientstoreduceproductioncosts.
(2)TheCompany’sproductsperformwellincompatibilityandallowquickswitchover.
Takingintofullconsiderationtrendsintechnologicaldevelopmentandspecialapplicationscenariosthatclientsmayface,theCompany’sproductdesignsareveryflexibleandcompatible,
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allowingquickswitchoverbetweentechnologiesofdifferentkinds.Meanwhile,innovativestudiesoftheconformityofOBBtechnologyaremadeontheexistingtechnicalplatforms.TheWaferInspectionSystem,whoseinspectionmodulescanbeassembledindifferentwaysdependingonwhattechnologyaclientuses,canapplytobothfullandhalf-cutwadersthroughtesting,soastosatisfysomespecialclientrequirements.TheCompany’sstandardModulePACKLinecanrealizerapidchangeoverwithintwohours,therebycontributingtoproductionramp-upandefficiencyimprovementintheESSsector.
3.StrengthincomprehensiveglobalservicesMachinesmanufacturedbytheCompanyarekeyassetsthatitsclientsrelyoninproductionandoperation.Ifthesemachinesbreakdown,clientsmaysufferhaltsacrossallproductionlines.Howtheyperformhassignificanteffectsonclientproductionandoperation.Upgradesinclients’productsarealsosignificantlysubjecttofast-pacedtechnologicaliterationandtherateofapplyingnewcrafts,materials,andtechnologiesinthePVsector.Therefore,clientsmainlyconsiderservicecapability,transformationability,andresponsetimewhenchoosingasupplier.TheCompanyneverceasestoimproveitssalesservicesforoldclients.Aimedatservingmorethan600productionbasesitsclientshavelocatedinover40countriesandregions,theCompanysendsengineerstoclientsitesforequipmentinstallationandcommissioning.Givenvariedclientsituations,theCompanyalsoarrangesforengineerstooffertechnicalservicessuchasremoteinstruction,on-siteinspection,operationandmaintenance,andprofessionaltraining.Furthermore,theCompanyalsoprovidesequipmenttransformationservicestohelpitsclientstoadapttotechnologicalprogress.Inthisconnection,theCompanyhasbuiltahighlyskilledteamofengineers,thenumberofwhombyJune30,2024reached1,476,representing30%ofitsheadcount.Intheprocessofprovidingcomprehensiveservicestoclients,theCompanycannotonlymakeclientsmoreengagedandsatisfied,butalsoacquaintitselfwithmarketdemandandtechnicaltrendstospurproductR&Dandupgrades.
4.Strengthinclientrelations
TheCompanyhasestablishedlong-termpartnershipswithdomesticallyandinternationallyknownPVcompaniesincludingJinkoSolar,TongweiCo.,Ltd.,TrinaSolar,LONGi,JASolar,HanwhaGroup,POLY-GCL,CanadianSolarInc.,DASSolar,ADANIGroupandSilfabSolar.SoundpartnershipshavebeenbuiltbetweentheCompanyandfamousenergystorageplayerssuchasCRRCZhuzhouInstitute,HyperStrong,andHigh-StarCorporation.Asitssemiconductorequipmentcontinuestoimprove,theCompanyhasbeefedupeffortstoexpandbusinesswithsemiconductorclients.Toexplorethesemiconductorassemblyequipmentmarket,theCompanycooperatedwithsmallclientspriortoreceivingbulkordersfrommediumandlargeclients.Inthefirsthalfof2024,theCompanysecuredordersfromandestablishedfriendlycooperationwithIGBTandAOIclientssuchasNcepower,FMSuperchip,andChippacking.
(ii)Impactanalysisandresponses:eventsunderminingtheCompany’scorecompetitivenessinthereportingperiod?Applicable√N/AIV.OperationalDiscussionandAnalysis
(i)Businessperformanceinthereportingperiod:
Inthefirsthalfof2024,theCompany’scoreproducts,includingthelarge,ultra-speedMBBSolderingStringer,theWaferInspectionSystem,theScreenPrintingLine,theBCAdhesivePrintingMachine,andtheBCPrintingLineamongotherPVequipment,wonhighrecognitionfromclients;theESSModulePACKLinereceivedacontinuousstreamoforders;theSemiconductorWireBonderandtheAOIMachinesawasharpriseintheorderquantity,andthefirstbatchofordersforSemiconductorCuttingMachinewastaken.
(ii)Operatingresultsinthereportingperiod:
1.Mainoperatingresults
Inthereportingperiod,theCompanygeneratedRMB4,417.70millioninoperatingincome,surging
75.48%fromthepreviousyear,RMB769.08millioninnetprofitattributabletoshareholdersoftheparentcompany,upby47.19%yearonyear,withtheearningspershareamountingtoRMB2.45,a
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year-on-yearriseof47.59%.Bytheendofthereportingperiod,theCompany’stotalassetswereRMB14,947.29milliondecliningby4.29%fromthebeginningoftheyear,whiletheequityattributabletoshareholdersoftheparentcompanygained10.37%fromthebeginningoftheyeartoRMB4,044.28million.ExpensesincurredbytheCompanyinthereportingperiodincreased.Tobespecific,administrativeexpensesamountedtoRMB157.71million,increasingbyRMB48.23millionor44.05%yearonyear;R&DexpensesreachedRMB178.11million,addingbyRMB48.11millionor37.01%yearonyear;salesexpensesdeclinedbyRMB5.93millionor7.02%yearonyeartoRMB78.52million;andfinancialexpensessurgedbyRMB7.10millionor135.04%yearonyeartoRMB12.36million.
2.MajorbusinessperformanceInthereportingperiod,allbusinessareasoftheCompanysustainedpropergrowth.Asitsproductsfindenormousfavorwithclients,theCompanysignedRMB6.285billion(taxinclusive)worthofnewordersfromJanuarytoJune2024,risingby8.74%yearonyear.AsofJune30,2024,theCompany’sordersinhandwereworthRMB14.341billion(taxinclusive),upby41.11%fromthesameperiodofthepreviousyear.
3.IntensifiedR&DeffortsstrengthenscorecompetitivenessInthereportingperiod,theCompanyspentRMB178.11milliononR&D,increasingbyRMB48.11millionor37.01%fromthesameperiodlastyear.Withafocusonclientrequirements,theCompanyworkedharderoncoreequipmentinthePVindustrychaintowidenproductcategories,andtookfulladvantageofcoretechnologicalR&DplatformstointegrateresourcesandimproveR&Defficiency.TheCompanycoordinatedR&Deffortsacrossboththeupstreamanddownstreamsectorstodeepencooperationontheindustrychain.Asaconsequence,itscorecompetitivenesscontinuedtoimprove.
Inthereportingperiod,theCompanyscoredplentifulR&Dachievements.AsofJune30,2024,theCompanyhad16ongoingprojectsunderR&D.TheCompanyhasbecomemorecompetitiveinwaferfabricationequipment,thankstotheoutstandingclient-sideperformanceofitsLowoxygenMono-SiFurnace.SemiconductorBonderandAOIMachinewereupgradedcontinuouslyinperformancethroughclient-sideverifiableandtrialtests.TheCompany’sWireBonderandAOIMachinehavecontinuedtoreceivebulkordersfromclients,withasharpriseinordersinthefirsthalfof2024.Majoroperationalchangesandeventsthathavesignificanteffectsonoperatingresultsinthereportingperiodorareexpectedtoexertsignificanteffectsinthefuture?Applicable√N/AV.RiskFactors
√Applicable?N/A
(i)Risksforcorecompetitiveness
1.Technicalrisks
(1)RisksofmisalignmentbetweenR&Dplanninganddownstreamindustrialtrends
TheCompany’sdownstreamsectorsareexperiencingrapidtechnologicaliteration.Therefore,priortoR&Dandtechnicalreserve,theCompanyneedstochannelenormousresourcestowardstechnologyandmarketstudiestargetingthedownstreamsectors.IncaseofmisalignmentbetweenR&Dplanninganddevelopmenttrendsinthedownstreamsectors,theCompanymaywasteR&Dresourcesandmissopportunitiesfordevelopment,orevenfaceadversecircumstancessuchaslossofitsleadershipinnichemarkets.AlltheseconsequencescouldunderminetheCompany’scompetitivenessandsustainedprofitability.
(2)RisksofprojectR&DfailureorunsuccessfulcommercializationofR&Dresults
TheCompanyspendsheavilyonR&D,theexpensesofwhichfromJanuarytoJune2024amountedtoRMB178.11million,representing4.03%oftheoperatingincomeoverthesameperiod.TheaboveR&Dexpensescontributedsignificantlytoimprovingtheperformanceofexistingproductsand
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developingnewproducts,R&DfailuresandunsuccessfulcommercializationofR&Dresultsalsotookplace.TheCompanywillcontinuetospendgenerouslyonR&Dofinnovativetechnologies.IftheCompanyexperiencesalotofR&DfailuresorunsuccessfulcommercializationofR&Dachievementsresultingfromhightechnicalthresholds,technicaleconomy,demandshift,orotherfactors,theCompanymaynotonlyseemoreperiodexpensesandreportweakerprofitability,butalsosufferadverseeffectsinvaryingdegreesonitsprospects.
(3)RisksofcorepersonnelturnoverandlossoftechnicalconfidentialityTheCompany,whichwasratedasanationalnewandhigh-techenterpriseasearlyas2015,hasaccumulatedalotoftechnologies.TheaccumulationiscriticalfortheCompanytosustainitsoperations.CoretechnologiesoftheCompanyareprimarilydevelopedbyitsR&Dteam,inwhichkeytechnicalpersonnelplayapivotalrole.Incaseofcorepersonnelturnoverorlossoftechnicalconfidentiality,theoperatingresultsoftheCompanymaybesubjecttoadverseeffects.
(4)RisksoftechnicalinfringementsThroughproductR&Defforts,theCompanyhasaccumulatedsomecoretechnologiesthathavebeensuccessfullyapplied.AsofJune30,2024,theCompanyhasbeengrantedacumulativetotalof1,808piecesofintellectualpropertyincluding211inventionpatents,1,296utilitymodelpatents,117softwarecopyrights,and3industrialdesignpatents.IntheeventthattheabovepatentsandotherintellectualpropertyrightsheldbytheCompanyaredeemedvoid,orcompetentauthoritiesdeclaretheCompanyinfringesonpatentsortechnologies,orothercompaniesfilelawsuitsontheintellectualpropertyagainsttheCompanyasabusinessstrategy,theCompanymaynotonlyinvolveitselfinlitigationordisputesbutalsosufferadverseeffectsonitsoperatingresultsduetoaffectedproductsales.
(ii)Operatingrisks
(1)RisksofunfavorablechangesinmajorclientsTheCompanyderivesthelion’sshareofincomefromtheproductionofwafers,cells,andmodulesinthePVindustrychain.Thesenichemarketsarehighlyconcentrated.Likewise,theCompany’ssalesrevenuewasalsohighlyconcentratedfromJanuarytoJune2024,withthetopfiveclientsaccountingfor
46.37%ofthetotalincome.DuetolowerprofitabilityacrossthemainPVindustrychain,someclientsoftheCompanyexperiencedadversechangesinoperatingperformanceandfinancialpositionandbecameloss-makingfromJanuarytoJunethisyear.IfthePVindustryfailstorecoverintheshortterm,someclientsmaygobankrupt.SuchcircumstancesmayadverselyimpacttheCompany’soperatingresults.
(2)RisksoffluctuationsingrossmarginofproductsOverrecentyears,grossmarginsoftheCompany’sPVequipmentandlithium-ionbatteryequipmenthavebeenfluctuatinginsomewayduetomarketcompetition,industrialpolicies,technicallevel,etc.Notably,againstthebackdropoflowerprofitabilityacrossthemainPVindustrychain,itisnotpossibletoexcludesuchcircumstanceswheremajorproductsoftheCompanyexperiencecuttingprices,risingcosts,anddeclininggrossmarginduetopricenegotiationswithdownstreamclients,industrycompetitionandadversechangesinsupportpolicies,thuscausingadverseeffectstotheCompany’sresults.
(3)Risksofmanagerialdecision-makingmistakesManagerialdecision-makingintheCompanyissusceptibletotrendsintechnologicaldevelopment,policychanges,marketcompetitionenvironment,macroeconomicfluctuations,etc.AstheCompany’sproductsareprimarilyappliedinemergingindustriessuchasPVandNEVs,whereindustrydevelopmentchangesrapidlybecauseofinstability,itisdifficultfortheCompanytomakemanagerialdecisions.
BycooperatingwithotherfirmsthroughstrategicinvestmentandjointR&D,theCompanycanswiftlyseizemarketopportunitiestobolsteritscorecompetitivenessandsustainitscompetitivenessinthemidtolongterm.However,suchcorporatebehaviorsasstrategicinvestmentandjointR&Drequirebettermanagerialdecision-making.
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Therefore,whiletheCompanyhastakenmanymeasurestomakedecisionsinawell-conceivedmanner,itcannotexcludethepossibilityofmistakesinmanagerialdecision-making,whichmaycausesignificantadverseeffects.
(4)Risksofcontractcomplianceandexecution
AsofJune30,2024,theCompanyhadRMB14.341(taxinclusive)worthofordersinhand.Incasesofslower-than-expectedcontractexecution,orevensuspensionofcontractperformanceorcontractcancellationduetofluctuationsinthedownstreamsectors,significantunfavorableoperationalchangesofmajorclientswhocontributeordersinhand,etc.,theCompany’sbusinessreservesandoperatingresultsmaybeexposedtoadverseeffects.
(iii)Financialrisks
(1)Risksofinventorypricedeclines
TheCompanyhasalargesumofinventory,whosebookvaluebytheendofJune2024amountedtoRMB7,340.25million.Productsshippedintransitoccupiedalargeproportion.Bytheendofthereportingperiod,thebookvalueofproductsshippedintransitreachedRMB6,147.07million,representing83.74%ofthetotalinventory,mainlyattributabletothelongperiodoftimerequiredforinstallation,commissioning,andtrialoperationoftheCompany’sequipmentproductsfromdeliverytoclientacceptance.WhiletheCompanyhasmadeprovisionsforthedropininventorypricesinaccordancewithaccountingpoliciesandreality,thepossibilityoffailedsalesofinventoriesorasharpdeclineininventorypricesduetomarketchangesorotherunforeseeablereasonscannotbeexcluded,thusexposingtheCompanytorisksfromadropininventoryvalue.
(2)Risksofalengthycyclefrominventorydeliverytoclientacceptance
Inthefirsthalfof2024,theCompanyprimarilyderivedincomefromsalesofequipmentproducts.Suchproductsinvolvealongperiodoftimefromdeliverytoclientacceptance.Ifclientsdon’tacceptproductsshippedbytheCompanyinatimelymanner,incomevolatilityoftheCompanywillrisebecauseofaffectedconfirmationofsalesincome,andinventorieswilloccupyfundslongerandcollectionofpaymentsforproductswillbepostponed,thusmountingliquidityrisks.
(3)Risksofcollectionofreceivables
TheCompanyhasalargesumofreceivables,thebookvalueofwhichbytheendofthereportingperiodamountedtoRMB2,197.03million,comprising14.70%ofthetotalassets.Inthereportingperiod,thefailureofsomedownstreamclientstopayforproductsaccordingtocontractualtermsledtoafewoverduereceivables.AsanincreasingnumberofcompaniesinthePVsectorsufferfromlosses,andoperationsincorporateclientsworsen,theCompanyislikelytoseeafurtherriseinreceivablesandoverduereceivables.Ifreceivablescannotbecollectedtimelyinfullorevennonecanbereclaimed,theCompanywillfaceadverseeffectsintermsofoperatingresultsandcashflows.
(4)RisksoftheCompanyderivingthelion’sshareofincomefromPVequipmentproducts
Inthereportingperiod,PVequipmentproductscontributedmorethan90%oftheCompany’soperatingincome.PVcompanieswerehardhitbyseverelossesinthereportingperiod.Ifthissituationpersistsorworsens,theCompany’sresultsmaybesubjecttosignificantadverseeffects.
(5)Risksofpreferentialtax
EquipmentmadebytheCompanyisoperatedorcontrolledbyindependentlydevelopedordesignedsoftware.AsofJune30,2024,theCompanyhasobtained117copyrightsofcomputersoftwareandlaunched63softwareproductsinregardtothesepiecesofsoftware.InaccordancewiththeNoticeoftheMinistryofFinanceandtheStateAdministrationofTaxationontheVATPoliciesforSoftwareProducts(FinanceNo.100[2011])andotherdocuments,independentlydevelopedoperatingsystemsoftware,thatisinstalledintheCompany’sequipmentforsale,isentitledtoenjoythereal-timeVATrebatepolicyasanembeddedsoftwareproduct.
TheCompanywasratedasanewandhigh-techenterpriseasearlyas2015andretainedthetitlethroughthere-inspectionin2021(certificatenumber:GR202132005383).AsstipulatedintheAdministrativeMeasuresfortheIdentificationofNewandHigh-techEnterprises,thecertificateisvalid
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forthreeyearsfromthedateofissuing,andcertificateholdersshouldfileanapplicationforre-inspectionbeforetheexpirydatetohavethecertificateextendedbyanothertermofthreeyearsoncepassingthere-inspection.Inaccordancewithpreferentialtaxpoliciesfornewandhigh-techenterprises,theabovequalifiedcompaniescanenjoypreferentialbusinessincometaxattherateof15%inspecifiedperiods.
Iftheabovepreferentialtaxpoliciesareabolishedorbecomelessfavorable,ortheCompany’stitleasanewandhigh-techenterpriseexperiencessignificantunwelcomechanges,theCompany’soperatingresultswillsufferadverseeffects.
(6)Risksofmountingcosts
TheCompanyislikelytofaceincreasingrawmaterialandtransportationcosts.Overrecentyears,thecostoflaborinChinahasclimbedatafastpaceovertheseyears,duetoeconomicgrowthanddemographicshifts.Tocutproductioncosts,clientsinthedownstreamsectorsrequireequipmentmanufacturerstoimproveproductperformanceandcapacity.Thismaydriveuptheper-unitcostthatequipmentmanufacturershavetobear.Iftheabovecostsrise,theCompanymaybeexposedtoadverseeffectsintermsofproductcost,grossmargin,andoperatingresults.
(iv)Industryrisks
1.Risksofweakermarketdemand
Inthereportingperiod,theCompany’sclientsmostlyengageinPVandenergystoragebatterysectors.Ifindustrialpoliciesandinternationaltradepoliciesexperiencedrasticunfavorablechanges,sectorssuchasPVandNEVsmaybeexposedtoadverseeffects,thentheCompany’ssalesandoperatingresultswillbeaffectednegatively.Therefore,intheeventofunfavorablefluctuationssuchasslidingdemandinthesesectors,particularlythePVindustry,productionandoperationsintheCompanywillfacesignificantadverseeffects.
2.Risksofdrasticchangesinkeytechnologiesortechnicalroutesinthedownstreamsectors
TheCompanyspecializesintheR&D,design,production,andsalesofhigh-endintelligentequipmentthatmainlytargetssuchdownstreamsectorsascrystallinesiliconPV,electrochemicalenergystorage,andsemiconductorassemblingandtesting.Keytechnologiesortechnicalroutesinthesedownstreamsectorsarepronetodrasticchanges.
Intheeventofdrasticchangesinkeytechnologiesortechnicalroutesinthedownstreamsectors,supply-demandrelationsforcurrentproductsarelikelytochange,thusaffectingorradicallychangingproductionandoperationsintheCompany.
3.Risksoffast-growingproductioncapacityinthedownstreamsectors
ThePVindustry,amaindownstreamsectorfortheCompany,hasseenrapidcapacityramp-upinrecentyears,leadingtoperiodicovercapacityandlowcapacityutilization.IfthePVindustrialtechnologiesstagnateorifnewdemandsdrivenbytechnologicaladvancesandtheneedtoupgradeexistingcapacityshrink,theCompanywillbeexposedtosignificantadverseeffectsinregardtoproductmarketsizeandsales.(v)Macroenvironmentalrisks
1.Risksofcyclicalfluctuationsinthemacroeconomy
TheCompanyfallsintothespecial-purposeequipmentmanufacturingsector,inwhichtheinterplaybetweensupplyanddemandiscloselyrelatedtofixedassetinvestmentscaleandgrowthinthedownstreamsectors.Susceptibletochangesinnationalmacroeconomyandindustrialpolicies,demandforfixedassetinvestmentinthedownstreamsectorsshowsamoderatelevelofvolatility.ThismayaffectdemandforthecoreproductsoftheCompany.
2.Risksofexchangeratefluctuations
TheCompanynotonlyengagesinproductexport,butalsobuysrawmaterialsandpartsfromoverseas.SuchtypesofbusinessaremainlypricedandsettledinUSD.AsvariousfactorsmayaffecttheRMBexchangerate,itsfluctuationsfaceuncertaintiesinsomeway.Ifexchangeratesexperienceunwelcomechanges,theCompany’sexportsandoperatingresultswillbeaffectednegatively.
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3.RisksofforcemajeureNaturalcalamitiessuchasearthquakes,typhoons,andtsunamisaswellaspublicemergencyeventscancausedamagetotheCompany’spropertyandcasualtiesanddisruptnormalproductionandoperations,thusleadingtodirecteconomiclossordeclinesinprofitability.VI.BusinessPerformanceintheReportingPeriod
Pleasereferto“I.IntroductiontotheCompany’sindustryandmainbusinessinthereportingperiod”inSectionIIIabove.
(i)Analysisofmainbusiness
1.Analysisofmainitemsinfinancialstatements
Unit:millionYuan,Currency:RMB
| Item | Amountinthecurrentperiod | Amountinthesameperiodlastyear | Change(%) |
| Operatingincome | 4,417,698,117.26 | 2,517,486,369.86 | 75.48 |
| Operatingcosts | 2,924,028,824.33 | 1,595,013,807.86 | 83.32 |
| Sellingexpenses | 78,521,303.44 | 84,452,859.24 | -7.02 |
| Administrativeexpenses | 157,714,200.42 | 109,488,543.37 | 44.05 |
| Financialexpenses | 12,363,463.19 | 5,260,176.11 | 135.04 |
| R&Dexpenses | 178,114,245.75 | 130,002,217.29 | 37.01 |
| Netcashflowsfromoperatingactivities | -9,711,098.51 | 268,896,252.11 | N/A |
| Netcashflowsfrominvestmentactivities | 375,734,820.11 | 136,359,005.73 | 175.55 |
| Netcashflowsfromfinancingactivities | -216,097,289.58 | -443,974,089.04 | 51.33 |
Explanationofreasonsforchangesinoperatingincome:itsawayear-on-yearincreaseof75.48%,mainlyduetoasteadyriseinsalesincomeresultingfromcontinuousacceptanceofordersinhandandsustainedcompetitiveadvantagesincoreproducts.Explanationofreasonsforchangesinoperatingcosts:itsawayear-on-yearincreaseof83.32%,mainlyduetohighercostsfromsalesgrowth,andthetransferofcurrent-periodqualityassurancedepositsfromsellingexpensestooperatingcostsinaccordancewiththe2024ApplicationGuidesforEnterpriseAccountingStandards.Explanationofreasonsforchangesinadministrativeexpenses:itsawayear-on-yearincreaseof
44.05%,mainlyduetorisesintheremunerationofmanagementanddepreciationandamortization.Explanationofreasonsforchangesinfinancialexpenses:itsawayear-on-yearsurgeof135.04%,mainlyduetoincreasesincurrent-periodlong-termborrowingsandshort-termborrowings,andaccruedinterestforitsconvertiblebonds.ExplanationofreasonsforchangesinR&Dexpenses:itsawayear-on-yearincreaseof37.01%,mainlyduetoramped-upR&DeffortsandariseintheremunerationofR&Dpersonnel.Explanationofreasonsforchangesinnetcashflowsfromoperatingactivities:itdeclinedyearonyear,mainlyduetoincreasesinpaymentsforpurchasingandremuneration.Explanationofreasonsforchangesinnetcashflowsfrominvestmentactivities:itsawayear-on-yearsurgeof175.55%,mainlyduetoreducedpurchasesofwealthmanagementproducts.Explanationofreasonsforchangesinnetcashflowsfromfinancingactivities:itsawayear-on-yearincreaseof51.33%,mainlyduetoincreasedborrowings.
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2.DetailedexplanationsoftheCompany’ssignificantchangesinbusinesstypes,profitcomposition,orsourcesofprofitinthisperiod?Applicable√N/A
(ii)Explanationofdrasticchangesinprofitfromnon-mainbusiness?Applicable√N/A
(iii)Analysisofassetsandliabilities
√Applicable?N/A
1.Detailsofassetsandliabilities
Unit:Yuan
| Item | Amountattheperiodend | Percentageofamountattheperiodendintotalassets(%) | Amountatthelastperiodend | Percentageofamountatthelastperiodendintotalassets(%) | YoYchangeofamountattheperiodend | Notes |
| Tradablefinancialassets | 220,055,388.89 | 1.47 | 1,013,130,849.65 | 6.49 | -78.28 | |
| Receivables | 2,197,025,477.43 | 14.70 | 1,591,755,715.37 | 10.19 | 38.03 | |
| Receivablesfinancing | 593,758,687.62 | 3.97 | 1,399,734,854.14 | 8.96 | -57.58 | |
| Othercurrentassets | 118,975,380.81 | 0.80 | 78,299,342.53 | 0.50 | 51.95 | |
| Projectsinprogress | 593,113,483.75 | 3.97 | 152,486,136.51 | 0.98 | 288.96 | |
| Othercurrentliabilities | 8,569,188.87 | 0.06 | 4,333,632.85 | 0.03 | 97.74 | |
| Long-termborrowings | 319,027,747.75 | 2.13 | 141,007,258.34 | 0.90 | 126.25 | |
| Est.liabilities | 32,355,137.07 | 0.22 | 20,642,029.65 | 0.13 | 56.74 |
Otherremarks
1.Tradablefinancialassetsdecreasedby78.28%fromtheendofthelastyear,mainlyduetoreducedpurchasesofwealthmanagementproducts.
2.Receivablesincreasedby38.03%fromtheendofthelastyear,mainlyduetoincomeincreases.
3.Receivablesfinancingdecreasedby57.58%fromtheendofthelastyear,mainlyduetothereceiptoffewernotes.
4.Othercurrentassetsroseby51.95%fromtheendofthepreviousyear,mainlyduetomoreinputVATtobedeductible.
5.Projectsinprogresssurgedby288.96%fromtheendofthelastyear,mainlyduetocontinuousspendingonnewfactorybuildings.
6.Othercurrentliabilitiesgrewby97.74%fromtheendofthelastyear,mainlyduetomoreoutputtaxtobetransferred.
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7.Long-termborrowingsgained126.25%fromtheendofthelastyear,mainlyduetonewborrowings.
8.Estimatedliabilitiesincreasedby56.74%fromtheendofthelastyear,mainlyduetomoreaccruedqualityassuranceexpensesonaccountofhigherincome.
2.Detailsofoverseasassets
√Applicable?N/A
(1)Assetsize
Amongthem,overseasassetsamountedtoRMB25,708,194.94,comprising0.17%oftotalassets.
(2)Explanationofahighproportionofoverseasassets?Applicable√N/AOtherremarksNo
3.Detailsofrestrictedassetsasoftheendofthereportingperiod
√Applicable?N/AAsoftheendofthecurrentperiod,RMB304.60millioninbookvalueofrestrictedmonetarycapitalandRMB596.04millioninbookvalueofrestrictednotesreceivabletotaledRMB900.64million.TheaboverestrictionswereattributabletoL/Cguaranteedeposits,depositsforbankacceptancebills,notesreceivableusedascollateral,andunconfirmedendorsednotesorimmaturenotesondiscounts.
4.Otherremarks?Applicable√N/A
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(iv)AnalysisofinvestmentdetailsAggregateanalysisofexternalequityinvestment
√Applicable?N/A
Unit:millionYuan,Currency:RMB
| Investmentinthereportingperiod(millionYuan) | Investmentinthesameperiodlastyear(millionYuan) | Change |
| 30.47 | 64.00 | -52.40% |
1.Significantequityinvestments?Applicable√N/A
2.Significantnon-equityinvestments?Applicable√N/A
3.Financialassetsmeasuredatfairvalue
√Applicable?N/A
Unit:millionYuan,Currency:RMB
| Assetclass | Amountattheperiodbeginning | Profitorlossonfairvaluechangesduringtheperiod | Cumulativefairvaluechangesrecordedinequity | Provisionimpairmentduringtheperiod | Purchaseamountduringtheperiod | Sales/redemptionamountduringtheperiod | Otherchanges | Amountattheperiodend |
| Others | 1,013.13 | 0.13 | 0 | 0 | 2,074.00 | 2,866.00 | -1.20 | 220.06 |
| Others | 1,399.73 | 0 | 0 | 0 | 2,274.93 | 2,954.25 | 0 | 720.42 |
| Others | 185.27 | -24.14 | 0 | 0 | 0 | 0 | 0 | 161.13 |
| Total | 2,598.14 | -24.01 | 0 | 0 | 4,348.93 | 5,820.25 | -1.20 | 1,101.60 |
Detailsofportfolioinvestment
√Applicable?N/A
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Unit:millionYuan,Currency:RMB
| Types | Code | Shortname | Initialinvestmentcost | Sourceoffunds | Bookvalueatperiodbeginning | Profitorlossonfairvaluechangesduringtheperiod | Cumulativefairvaluechangesrecordedinequity | Purchasedduringtheperiod | Soldduringtheperiod | Profitandlossondisposal | Bookvalueattheperiodend | Accountingitems |
| Chineseandforeignstocks | 836414 | Optech | 14.00 | Ownfunds | 24.36 | -14.16 | 0 | 0 | 0 | 0 | 10.20 | Othernon-currentfinancialassets |
| Chineseandforeignstocks | 873860 | Greenstone | 10.02 | Ownfunds | 10.02 | 0 | 0 | 0 | 0 | 0 | 10.02 | Othernon-currentfinancialassets |
| Chineseandforeignstocks | 688610 | I-TEKOptoElectronics | 40.00 | Ownfunds | 28.32 | -9.98 | 0 | 0 | 0 | 0 | 18.34 | Othernon-currentfinancialassets |
| Total | / | / | 64.02 | / | 62.70 | -24.14 | 0 | 0 | 0 | 0 | 38.56 | / |
Investmentinderivatives?Applicable√N/A
4.Detailsofprivateequity(PE)fundinvestment
√Applicable?N/A
Unit:millionYuan,Currency:RMB
| Name | Agreementsigningdate | Investmentpurpose | Totalintendedinvestm | Investmentinthereportin | Paid-ininvestmentatthe | Identityinparticipation | Ratioofinvestmentatthe | WhethertheCompany | Accountingitems | Whethercorrelation | Underlyingassetsforthe | Impactonprofitinthe | Impactonaccumulatedprofit |
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| ent | gperiod | periodend | periodend(%) | controlsthefundorcanexertsignificantinfluence | exists | fund | reportingperiod | |||||||
| XiamenFuhaiXincaiThirdPhaseVentureCapitalInvestmentPartnership(limitedpartnership) | February26,2021 | Industryvalueandinvestmentreturns | 20.00 | 0 | 20.00 | Limitedpartner | 1.96 | No | Othernon-currentfinancialassets | No | Industrialinvestment | 0 | 0.97 | |
| Total | / | / | 20.00 | 0 | 20.00 | / | 1.96 | / | / | / | / | 0 | 0.97 |
OtherremarksNo
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(v)Salesofmaterialassetsandequity?Applicable√N/A(vi)Analysisofmajorcontrolledsubsidiariesandinvestedcompanies
√Applicable?N/A
| Companyname | Mainbusiness | Shareholdingpercentage | Registeredcapital(millionYuan) | Totalassets(millionYuan) | Netassets(millionYuan) |
| IntelligentEquipment | R&D,manufacturing,salesoflithium-ionbatteryequipment,andtechnicalservices | 82.37% | 36.42 | 703.81 | -113.04 |
| SupplyChainCompany | Supplychainmanagementservices | 100% | 10.00 | 1,492.68 | 98.97 |
| OpticsApplication | Technicaldevelopmentandservices | 76.92% | 13.00 | 79.53 | -45.17 |
| XuRiTechnology | ManufacturingandsalesofPVequipmentandcomponents | 72.00% | 30.00 | 2,065.20 | -94.54 |
| CoshinTechnology | Manufacturingandsalesofdedicatedequipmentforsemiconductordevices | 71.50% | 20.00 | 151.44 | 0.62 |
| SCEC | R&D,manufacturing,andsalesofelectromechanicalequipmentsuchasMonocrystalGrowthFurnace | 40.63% | 20.86 | 2,927.73 | 204.08 |
| WuxiZhiyuan | Electricmachineryandequipmentmanufacturing | 70% | 20.00 | 109.35 | 13.23 |
| LeddoTechnology | R&D,manufacturing,andsalesofsemiconductordicingsaw | 70.55% | 25.28 | 44.97 | 37.45 |
| PolarNewEnergy | Electricmachineryandequipmentmanufacturing | 100% | 154.43 | 389.59 | 243.04 |
| WuxiPolar | Electricmachineryandequipmentmanufacturing | 61% | 50.00 | 62.58 | 24.52 |
| JiexinTechnology | R&D,manufacturing,andsalesof | 62% | 25.00 | 36.96 | 36.57 |
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| chemical-mechanicalpolishingmachinesforsemiconductorwafers | |||||
| AUTOWELL(Japan) | R&DandsalesofPVandsemiconductorequipmentandauxiliarymaterials | 100% | 14.66 | 13.25 | 13.22 |
| Autowell(Singapore) | Trading,administration,andservicesrelatedtoautomationequipmentandcorrelatedprojects | 100% | 109.50 | 12.46 | 11.30 |
| SongyuTechnology | ProfessionalequipmentincludingPVequipmentandsemiconductortechnologyequipment | 6.78% | 32.21 | 2,208.70 | 331.90 |
| Optech | R&DandsalesofPVequipment | 2.10% | 66.67 | 375.03 | 311.20 |
| Greenstone | R&D,design,manufacturing,andsalesofautomationequipment | 4.70% | 77.22 | 488.98 | 225.55 |
| I-TEKOptoElectronics | Design,R&D,manufacturing,andsalesofindustrialmachinevisionimagingcomponents | 0.80% | 68.00 | 1,542.53 | 1,472.46 |
Notes:1.DataonSongyuwerenotaudited.
2.DataonOptechcamefromitsfirstquarterlyreportdatedApril26,2024,andwerenotaudited.SharecapitalinOptechincreasedto79,748,171sharesasconverteditscapitalreserveintosharecapitalatarateof2sharesforevery10sharesinanequitydistribution.Fordetails,pleaserefertotheAnnouncementofImplementationMethodsfor2023AnnualEquityDistribution(No.2024-043).However,theindustrialandcommercialregistrationofchangeswasnotconcludedinthereportingperiod.
3.DataonI-TEKOptoElectronicscamefromitsfirstquarterlyreportdatedApril19,2024,andwerenotaudited.
4.DataonGreenstonederivedfromitsfirstquarterlyreportandwerenotaudited.
5.TheregisteredcapitalofAUTOWELL(Japan)andAutowell(Singapore)isJPY300millionandUSD15million,respectively.(vii)StructuredentitiescontrolledbytheCompany?Applicable√N/AVII.Otherinformationrequiredfordisclosures?Applicable√N/A
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SectionIVCorporateGovernanceI.ProfileofShareholders’GeneralMeeting
| Session | Dateofmeeting | Specifiedwebsiteforresolutionpublishing | Dateofdisclosureforresolutionpublishing | Resolution |
| Thefirstextraordinaryshareholders’generalmeetingin2024 | January26,2024 | WebsiteofShanghaiStockExchange(SSE)(www.sse.com.cn) | January27,2024 | TheResolutiononRevisingtheRulesforIndependentDirectorsofWuxiAutowellTechnologyCo.,Ltd.,theResolutiononRevisingRulesandRegulationsinWuxiAutowellTechnologyCo.,Ltd.,theResolutiononRevisingtheArticlesofAssociationofWuxiAutowellTechnologyCo.,Ltd.,andtheResolutiononChangingtheUseofRepurchasedShares,andCancelingandReducingRegisteredCapitalweredeliberatedandadoptedinthemeeting. |
| The2023annualshareholders’generalmeeting | April16,2024 | WebsiteofShanghaiStockExchange(SSE)(www.sse.com.cn) | April17,2024 | Thefollowingresolutionsweredeliberatedandadoptedinthemeeting,includingtheResolutionontheCompany’s2023AnnualReportanditsSummary,theResolutionon2023ReportofBoardofDirectors,theResolutionon |
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Anyrequestfromholdersofpreferredshareswithrestoredrightstoconveneanextraordinaryshareholders’generalmeeting?Applicable√N/ANotesondetailsofshareholders’generalmeeting
√Applicable?N/AInthereportingperiod,theCompanyheldtwoshareholders’generalmeetings,includinganannualshareholders’generalmeeting,andanextraordinarymeeting.Intheabovemeetings,allresolutionssubmittedwereadopted,andnoneofthemwerevetoed.Theconvening,proposals,notifications,
attendance,deliberation,voting,resolutions,andminutespertainingtotheaboveshareholders’meetingswereallperformedinaccordancewithlaws,regulations,andstipulationsintheArticlesofAssociationandtheRulesofProceduresforShareholders’GeneralMeetings.Allresolutionsadoptedinthe
meetingswerelegalandvalid.II.ChangesintheCompany’sDirectors,Supervisors,SeniorManagement,andCoreTechnicalPersonnel?Applicable√N/ADetailsofchangesintheCompany’sdirectors,supervisors,seniormanagementandcoretechnicalpersonnel?Applicable√N/ADetailedwaystoidentifycoretechnicalpersonnel?Applicable√N/AIII.ProposedPlanforProfitDistributionorCapitalReserveConversionProposedsemi-annualplanforprofitdistributionandcapitalreserveconversion
GeneralMeetingtoAuthorizeBoardofDirectorstoIssueSharestoSpecifiedRecipientsinSummaryProcedures.Whetherdistributedorconverted
| Whetherdistributedorconverted | Yes |
| Numberofbonussharesper10shares(shares) | 0 |
| Dividendpayoutper10shares(RMB)(taxinclusive) | 8.6 |
| Numberofsharesconvertedper10shares(shares) | 0 |
| Anyremarksontheproposedplanforprofitdistributionorcapitalreserveconversion | |
| No | |
IV.ImplementationoftheCompany’sEquityIncentivePlan,EmployeeStockOwnershipPlan(ESOP),orOtherEmployeeIncentiveMeasuresandTheirEffects(i)Anyequityincentive-relatedmattersthathavebeendisclosedinprovisionalannouncementsandsubjecttonosubsequentdevelopmentorchanges?Applicable√N/A
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(ii)AnyincentivesundisclosedinprovisionalannouncementsorsubjecttosubsequentdevelopmentDetailsofequityincentive?Applicable√N/AOtherremarks?Applicable√N/ADetailsofemployeestockownershipplan(ESOP)?Applicable√N/AOtherincentives?Applicable√N/A
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SectionVEnvironmentalandSocialResponsibilitiesI.EnvironmentalInformation
| Whetheramechanismforenvironmentalprotectionhasbeenputinplace | Yes |
| Fundsearmarkedforenvironmentalprotectioninthereportingperiod(millionYuan) | 5.78 |
(i)Detailsofenvironmentalprotectioneffortsincompaniesandtheirmainsubsidiarieswhicharedesignatedaskeypollutersbycompetentenvironmentalprotectionauthorities?Applicable√N/A(ii)Detailsofenvironmentalprotectioneffortsincompaniesthatarenotkeypolluters
√Applicable?N/A
1.Administrativepenaltiesforenvironmentalpollution?Applicable√N/A
2.Referencetootherenvironmentalinformationdisclosedbykeypolluters
√Applicable?N/ANeithertheCompanynoritssubsidiariesengageinheavilypollutingsectorsandgenerategravepollutantsinallbusinessprocedures.HazardouswastesgeneratedbytheCompanyinproductionaresetoutinthefollowingtable.
| Solidwaste | Property | Waste-generatingprocedure | Form | Hazardouscharacteristics | Category | Code | Est.output | Disposal |
| Cuttingfluidwaste | Hazardouswaste | Manufacturing | Liquid | T | 900-006-09 | HW09 | 8t | Tohirequalifiedorganizationsforthedisposal |
Toreduceandpreventenvironmentalrisks,theCompanyhasdrawnupacontingencyplanforenvironmentalemergencies,whichstipulatespreventivemeasuresforpotentialaccidentsandcriticalsituationsandhasbeenfiledwithcompetentauthorities(filingNo.:320-214-2023-038-L).
Inaccordancewithlawsandregulationsonenvironmentalprotection,theCompanyinthereportingperiodneitherexperiencedanyenvironmentalpollutionaccidentinoperationsnorreceivedanypenaltyfromcompetentadministrativedepartmentsduetoviolationsofenvironmentallawsandregulations.
3.Reasonsfornotdisclosingotherenvironmentalinformation?Applicable√N/A(iii)Subsequentdevelopmentorchangesinenvironmentalinformationdisclosedinthereportingperiod?Applicable√N/A
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(iv)Contributiontoecologicalconservation,pollutioncontrolandprevention,andenvironmentalresponsibility
√Applicable?N/AAsrequiredbytheWuxiMunicipalBureauofEcologicalEnvironment,theCompanyinsuresitselfagainstenvironmentalpollutionliabilities,andworkshardertoscreenoutandaddresslatentperilsintheenvironment.TheCompanyinsistsonusingnon-toxicandinnocuousorlow-toxicityandlow-hazard,degradableorrecyclablematerials,continuestoimprovedesigns,usescleanenergyandmaterials,adoptsadvancedtechnologiesandequipment,improvesitsmanagementthroughholisticutilizationofmaterials,andemployspollutioncontrolandpreventiontechnologiestomeetnationalstandardsfordischargeofpollutantsandtargetsfortotalpollutantdischargecontrol.(v)Measuresforcarbonemissionreductioninthereportingperiodandtheireffects
| Whethermeasuresforcarbonemissionreductionhavebeentaken | Yes |
| Carbondioxideequivalenceofreducedemissions(Unit:100milliontons) | 2.59 |
| Measuresforcarbonemissionreduction(powergenerationbycleanenergy,adoptionofcarbonemission-reducingtechnologyinproduction,R&D,andproductionofnewproductsthatcanfacilitatecarbonemissionreduction,etc.) | TheCompany,whosemainproductscontributetocarbonemissionreduction,hascurrentlyputinplacemeasurestocarbonemissionsinproductionandlife. |
Specificremarks
√Applicable?N/AKeepingafootholdinPV,lithium-ionbatteries/ESS,andsemiconductorsectors,theCompanyproducesequipmenttobolsterthenewenergyindustry,andstayscommittedtotechnologicaladvances,costreduction,andefficiencyimprovement,thusplayinganimportantroleinhelpingachieveChina’sgoalofpeakingcarbonemissionsby2030andreachingcarbonneutralityby2060.TheCompanyboastsarationallydesignedpowersupplyanddistributionsystem,prefersenergy-efficienttransformers,andachievesaneconomicalloadratio.Toreducetheconsumptionofelectricenergy,solarstreetlampsareinstalledinfactories,andnewenergy-efficientlightingproductsareusedinoffices.SolarPVpowerstationsarebuiltatoproofsinfactoriestomakeenergyutilizationmoreefficientandreducetheuseofelectricity.AllouterwallsoftheCompany’sself-builtworkshopsareinsulatedtoachieveaneconomicaluseofenergy.Topreventthewasteoftimbersandreducetheuseofwoodresources,theCompanyrentedallauxiliarywoodenmaterialsforthebuildingofnewworkshops,whichwouldberecycledbythelessorafteruse.Inthereportingperiod,theCompanyopenedmorethantenshuttlelinesforemployeecommutingandadvocatedlessuseofprivatecarstohelpreducecarbonemissions.II.BuildingonAchievementsofPovertyAlleviationandRuralRevitalization?Applicable√N/A
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SectionVISignificantEventsI.PerformanceofCommitments(i)Commitmentsthathavebeencompletedbypartiesconcernedsuchastheactualcontrollers,shareholders,relatedparties,andacquirersoftheCompanyandtheCompanyduringthereportingperiodorwerestillunderwaybeforetheendofthereportingperiod
√Applicable?N/A
| Commitment | Typeofcommitment | Madeby | Content | Date | Existenceofterm | Termofcommitment | Strictlyfulfilledontime | Reasonsifcommitmentnotfulfilled | Anyplans,ifcommitmentnottimelyfulfilled |
| IPO-relatedcommitment | Dividend | TheCompany | Note1 | 2020.05.21 | Yes | Longstanding | Yes | N/A | N/A |
| Dividend | ActualcontrollersGeZhiyongandLiWen | Note2 | 2020.05.21 | Yes | Longstanding | Yes | N/A | N/A | |
| Addressinghorizontalcompetition | ActualcontrollersGeZhiyongandLiWen | Note3 | 2020.05.21 | Yes | Longstanding | Yes | N/A | N/A | |
| Addressinghorizontalcompetition | ActualcontrollersGeZhiyongandLiWen | Note4 | 2020.05.21 | Yes | Longstanding | Yes | N/A | N/A | |
| Others | ActualcontrollersanddirectorsGEZhiyongandLiWen | Note5 | 2020.05.21 | Yes | Longstanding | Yes | N/A | N/A | |
| Others | TheshareholderWuxiAoliandpartiesactinginconcertofactualcontrollers | Note6 | 2020.05.21 | Yes | Longstanding | Yes | N/A | N/A | |
| Others | TheCompany,actualcontrollers,directors(excludingindependentdirectors),andseniormanagement | Note7 | 2020.05.21 | Yes | Longstanding | Yes | N/A | N/A |
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| Others | TheCompanyandactualcontrollersGeZhiyongandLiWen | Note8 | 2020.05.21 | Yes | Longstanding | Yes | N/A | N/A | |
| Others | TheCompany | Note9 | 2020.05.21 | Yes | Longstanding | Yes | N/A | N/A | |
| Others | ActualcontrollersGeZhiyongandLiWen | Note10 | 2020.05.21 | Yes | Longstanding | Yes | N/A | N/A | |
| Others | Alldirectorsandseniormanagement | Note11 | 2020.05.21 | Yes | Longstanding | Yes | N/A | N/A | |
| Others | TheCompany | Note12 | 2020.05.21 | Yes | Longstanding | Yes | N/A | N/A | |
| Others | ActualcontrollersGeZhiyongandLiWen | Note13 | 2020.05.21 | Yes | Longstanding | Yes | N/A | N/A | |
| Others | Alldirectors,supervisors,andseniormanagement | Note14 | 2020.05.21 | Yes | Longstanding | Yes | N/A | N/A | |
| Others | TheCompany | Note15 | 2020.05.21 | Yes | Longstanding | Yes | N/A | N/A | |
| Others | ActualcontrollersGeZhiyongandLiWen | Note16 | 2020.05.21 | Yes | Longstanding | Yes | N/A | N/A | |
| Others | Alldirectors,supervisors,andseniormanagement | Note17 | 2020.05.21 | Yes | Longstanding | Yes | N/A | N/A | |
| Others | Allcoretechnicalpersonnel | Note18 | 2020.05.21 | Yes | Longstanding | Yes | N/A | N/A | |
| Others | RenJun,indirectshareholderandrelativeofactualcontrollerLiWen | Note19 | 2020.05.21 | Yes | Longstanding | Yes | N/A | N/A | |
| Refinancing-relatedcommitment | Lock-upperiod | GeZhiyongandpartyactinginconcertLiWen,WuxiAoli,and | Note20 | 2022.8.21 | Yes | 18monthsfromthecompletionoftheoffering | Yes | N/A | N/A |
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| WuxiAochuang | |||||||||
| Lock-upperiod | GeZhiyong,targetofoffering | Note21 | 2022.8.21 | Yes | 36monthsfromthecompletionoftheoffering | Yes | N/A | N/A | |
| Others | ZhangHongandWangHuaiqian,lendersofsubscriptionfund | Note22 | 2022.8.21 | Yes | Longstanding | Yes | N/A | N/A | |
| Others | GeZhiyong,targetofoffering | Note23 | 2022.8.21 | Yes | Longstanding | Yes | N/A | N/A | |
| Others | BoardofDirectorsoftheissuer | Note24 | 2022.8.21 | Yes | Longstanding | Yes | N/A | N/A | |
| Others | TheCompany’sdirectors,seniormanagement,andactualcontrollers | Note25 | 2023.8.10 | Yes | Longstanding | Yes | N/A | N/A | |
| Others | Shareholders,directors,supervisors,andseniormanagementholdingover5%stakeintheCompany | Note26 | 2023.8.10 | Yes | Longstanding | Yes | N/A | N/A | |
| Othercommitment | Others | ActualcontrollersGeZhiyongandLiWen | Note27 | 2024.6.21 | Yes | BetweenJune21,2024andDecember31,2024 | Yes | N/A | N/A |
Note1:
Toprotecttheinterestsofsmallandmediuminvestors,theCompanywilladheretotherelevantdecision-makingproceduresanddistributeprofitsbystrictlyfollowingthepolicies(includingcashdividendpolicies)specifiedintheArticlesofAssociationofWuxiAutowellTechnologyCo.,Ltd.andrelatedregulations.
Note2:
AsanactualcontrolleroftheCompany,Iherebycommittovotingonprofitdistributiondecisionsatshareholders’generalmeetingsfromtheperspectiveofprotectingtheinterestsofsmallandmediuminvestors,inaccordancewiththeprofitdistributionpolicies(includingcashdividendpolicies)specifiedintheArticles
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ofAssociationofWuxiAutowellTechnologyCo.,Ltd.andrelatedregulations.IwillalsosupervisetheCompanyinprofitdistributionbasedonrelevantrulesandregulations.Note3:
Intheeventthatproductsproducedorbusinessesengagedinbymywholly-owned,controlled,oraffiliatedenterprisesinthefuturemightcompetewithorconstitutecompetitionagainsttheCompany,Iherebycommittotakingthefollowingmeasurestoavoidhorizontalcompetition:(1)Ceasetheproductionofproductsthatconstitutecompetitionorstopengaginginbusinessactivitiesthatconstitutecompetition;(2)UpontheCompany’srequest,Iherebycommittotransferringallofmyinvestmentorequityintheaforementionedenterprises.IalsocommittograntingtheCompanytherightoffirstrefusalonsuchinvestmentorequityandwillmakeeveryefforttoensurethatthepriceoftherelevanttransactionisdeterminedbasedonfairandreasonableterms,andissimilartothoseinnormalcommercialtransactionswithindependentthirdparties.If,inthefuture,thebusinessopportunitiesobtainedbymyselfortheenterprisesIinvestincompetewithormaypotentiallycompetewiththemainbusinessactivitiesoftheCompanyoritscontrolledenterprises,IwillimmediatelynotifytheCompanyandmakeeveryefforttoensurethatmyinvestedenterprisesprioritizeofferingsuchbusinessopportunitiestotheCompanyoritscontrolledenterprisesonopenandreasonableterms,toensurethattheinterestsoftheCompanyanditsshareholdersarenotjeopardized.IfanylossisincurredbytheCompanyduetomyviolationofthisLetterofCommitment,IagreetobearallthelossescausedtotheCompanyasaresult.Note4:
(1)Exceptforrelated-partytransactionsthathavebeendisclosedinwritingtotherelevantintermediaryagencies,therearenootherrelated-partytransactionsbetweenmeaswellasotherenterprisesundermycontrolandtheCompanyaswellasitscontrolledenterprises,which,accordingtolaws,regulations,ortherelevantrulesoftheCSRCortheSSE,shallbedisclosedbuthavenotbeendisclosed.
(2)Iwillstrivetominimizeandregulaterelated-partytransactionswiththeCompanyanditscontrolledenterprises.Forrelated-partytransactionsthatarenecessaryandunavoidable,otherenterprisesundermycontrolandIwill,onthebasisofequalityandvoluntariness,signrelevantagreementswiththeCompanyoritscontrolledenterprisesinaccordancewiththeprinciplesoffairness,impartiality,andcompensationforequalvalue.Iwillfollowthetransactiondecision-makingproceduresandfulfillinformationdisclosureobligations.Iwillnotrequest,norwillIaccept,anyconditionsfromtheCompanyoritscontrolledenterprisesthataremorefavorablethanthoseofferedtothirdpartiesinanymarkettransactions.
(3)IwillstrictlycomplywiththerelevantprovisionsoftheArticlesofAssociationtoavoidappropriatingtheCompany’sfundsorrequestingtheCompanytoprovideguaranteesillegally.IwillalsourgetheCompany’sshareholdersanddirectorstoexercisetheirrightsasshareholdersanddirectorsinaccordancewiththelaw,andtoabstainfromvotingonrelated-partytransactionsatshareholders’generalmeetingsandBoardofDirectors.
(4)Iherebycommitnottoleveragingrelated-partytransactionstotransferordivertprofits,andwillnotleveragemypositionastheactualcontrolleroftheCompanytojeopardizethelegitimaterightsandinterestsoftheCompanyandothershareholdersthroughrelated-partytransactions.
(5)IguaranteethattheabovementioneddeclarationsandcommitmentsmadeduringmytenureastheactualcontrolleroftheCompanyareirrevocable.IfotherenterprisesundermycontrolandIviolatethesedeclarationsandcommitments,Iwillimmediatelyceaserelated-partytransactionswiththeCompanyandtakenecessarycorrectivemeasures.Atthesametime,otherenterprisesundermycontrolandIshallbeliableforcompensatingtheCompanyforallthelossesandconsequencesresultingfromtheviolationofthesecommitments.
Note5:
A.Iwillcomplywiththelock-upperiodrequirementsspecifiedintheCompany’sinitialpublicoffering(IPO)prospectusandvariouscommitmentsmadebyme,andstrictlyadheretorelevantlawsandregulationsbynotreducingmyholdingsoftheCompany’sstockduringthelock-upperiod.
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B.IfIintendtoreducemyholdingsoftheCompany’sstock,IwillreportthistotheCompanytwotradingdaysbeforethereductionandannouncethereductionplanonthewebsiteoftheSSE.Thereductionwillbeconductedwithinsixmonthsaftertheannouncementthroughrelevantsecuritiesexchangesinblocktrades,auctiontrading,orothermethodsrecognizedbytheCSRC.C.WhenreducingmyholdingsoftheCompany’sstock,IwillannouncethespecificreductionplaninaccordancewithChina’sSecuritiesLaw,China’smeasuresfortheadministrationoftheacquisitionoflistedcompanies,provisionsonsharereductionbyshareholders,directors,supervisors,andseniormanagementoflistedcompanies(CSRCAnnouncement[2017]No.9),SSE’simplementationrulesforsharereductionbyshareholders,directors,supervisors,andseniormanagementoflistedcompaniesontheSSE(ShangZhenFa[2017]No.24),SSE’sstocklistingrulesfortheSSESTARMarket(ShangZhenFa[2019]No.22),andotherrelevantlaws,regulations,andnormativedocuments,andensurethatthereductioncomplieswiththeregulationsoftheCSRCandtheSSEregardingreductionmethods,reductionratio,reductionprice,andinformationdisclosure.D.IfIdonotfulfilltheabovecommitments,theproceedsfromthereductionoftheCompany’sshareswillbelongtotheCompany.E.IftheCSRCortheSSEissuesnewregulationsordifferentopinionsregardingthereductionofshareholders’shares,Iagreetoreviseandimplementthereduction-relatedcommitmentsaccordingtothenewregulationsoropinionsissuedbytheCSRCortheSSE.Note6:
A.Iwillcomplywiththelock-upperiodrequirementsspecifiedintheCompany’sIPOprospectusandvariouscommitmentsmadebyme,andstrictlyadheretorelevantlawsandregulationsbynotreducingmyholdingsoftheCompany’sstockduringthelock-upperiod.
B.IfIintendtoreducemyholdingsoftheCompany’sstock,IwillreportthistotheCompanytwotradingdaysbeforethereductionandannouncethereductionplanonthewebsiteoftheSSE.Thereductionwillbeconductedwithinsixmonthsaftertheannouncementthroughrelevantsecuritiesexchangesinblocktrades,auctiontrading,orothermethodsrecognizedbytheCSRC.
C.WhenreducingmyholdingsoftheCompany’sstock,thisCompanywillannouncethespecificreductionplaninaccordancewithChina’sSecuritiesLaw,China’smeasuresfortheadministrationoftheacquisitionoflistedcompanies,provisionsonsharereductionbyshareholders,directors,supervisors,andseniormanagementoflistedcompanies(CSRCAnnouncement[2017]No.9),SSE’simplementationrulesforsharereductionbyshareholders,directors,supervisors,andseniormanagementoflistedcompaniesontheSSE(ShangZhenFa[2017]No.24),SSE’sstocklistingrulesfortheSSESTARMarket(ShangZhenFa[2019]No.
22),andotherrelevantlaws,regulations,andnormativedocuments,andensurethatthereductioncomplieswiththeregulationsoftheCSRCandtheSSEregardingreductionmethods,reductionratio,reductionprice,andinformationdisclosure.
D.IfthisCompanydoesnotfulfilltheabovecommitments,theproceedsfromthereductionoftheCompany’sshareswillbelongtotheCompany.
E.IftheCSRCortheSSEissuesnewregulationsordifferentopinionsregardingthereductionofshareholdershares,thisCompanyagreestoreviseandimplementthereduction-relatedcommitmentsaccordingtothenewregulationsoropinionsissuedbytheCSRCortheSSE.
Note7:
WhentheconditionsforstabilizingtheCompany’sstockpricearemet,iftheCompany,actualcontrollers,directors(excludingindependentdirectors),andseniormanagementdonottakespecificmeasurestostabilizethestockprice,theyagreetothefollowingrestrictivemeasures:
(1)TheCompany,actualcontrollers,directors,andseniormanagementwillpubliclyexplainthespecificreasonsfornottakingtheabove-mentionedmeasurestostabilizethestockpriceattheCompany’sshareholders’generalmeetingandonthedisclosuremediadesignatedbytheSSEortheCSRC,andapologizetotheCompany’sshareholdersandpublicinvestors.
(2)TheactualcontrollersoftheCompanycommitthatiftheconditionsforstabilizingthestockpricearemetandtheactualcontrollersdonottaketheabove-mentionedmeasures,theCompanyhastherighttowithholdordeductdividendspayabletotheactualcontrollerstofulfillthecommitmentofincreasing
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holdings,withthedeductedamountnotexceedingtheupperlimitofthecommittedincrease.Atthesametime,theactualcontrollers’sharesintheCompanycannotbetransferreduntilthecorrespondingstockpricestabilizationmeasuresaretakenandcompletedaccordingtotheplan.
(3)Directors(excludingindependentdirectors)andseniormanagementcommitthatiftheconditionsforstabilizingthestockpricearemetandtheydonottakethespecificmeasures,theCompanyhastherighttodeducttheirsalariesorallowancestofulfillthecommitmentofincreasingholdings,withthedeductedamountnotexceedingtheupperlimitofthecommittedincrease.Atthesametime,theirsharesintheCompanycannotbetransferreduntilthecorrespondingstockpricestabilizationmeasuresaretakenandcompletedaccordingtotheplan.
(4)IfthelistingrulesorothersecuritiesregulationsregardingtheminimumholdingratioforpublicshareholderspreventtheCompany,actualcontrollers,directors(excludingindependentdirectors),orseniormanagementfromfulfillingtheirstockpricestabilizationobligationswithinacertainperiod,therelevantresponsiblepartiesmaybeexemptfromtheaboverestrictivemeasures,buttheyshouldproactivelytakeotherreasonableandfeasiblemeasurestostabilizethestockprice.
Note8:
TheCompany’sIPOandlistingontheSSESTARMarketdonotinvolveanyfraudulentcircumstances.
IftheCompanyfailstomeettheissuanceandlistingconditionsandfraudulentlyobtainedtheissuanceapprovalandhasalreadybeenlisted,theCompanywillinitiateasharerepurchaseprocedurewithinfiveworkingdaysaftertheCSRCorothercompetentauthoritiesconfirmthefraudulentissuance,soastorepurchaseallthenewlyissuedshares.
Note9:
Toensureeffectiveuseandpreventdilutionofimmediatereturnswhileimprovingfuturereturns,theissuercommitstothefollowingmeasures:
(1)Strengtheningthemanagementofraisedfundsandacceleratingtheimplementationoffundedprojects
TheCompanywillfollowinternalrulesandrelevantlawsandregulationstostandardizetheuseandmanagementofraisedfunds,ensurethatthefundsareusedspecificallyfortheirintendedpurposes,promptlydeposittheraisedfundsintodesignatedaccounts,andstrictlyusethefundstoensuretheyarefullyandeffectivelyutilizedasoriginallyintended.TheprojectsfundedbytheraisedproceedswillfocusontheCompany’smainbusiness,whichwillhelpenhanceprofitability.Afterthefundsareinplace,theCompanywillacceleratetheconstructionofthefundedprojectstorealizetheexpectedbenefitsassoonaspossible.
(2)EnhancingtheCompany’sR&Dcapabilitiesandimprovingproductcompetitiveness
R&DinnovationrepresentsthecorecompetitivenessoftheCompany.TheCompanywillleveragetheraisedfundstofurtherimproveitsR&Dcapabilities,andenhanceproductperformanceandcompetitiveness.TheCompanywillcontinuetoinnovateitsproductsbasedonmarketdemandsandimproveproductionprocessesandtechnologiestoreduceproductioncoststhroughcontinuoustechnologicalinnovation,thusenhancingoveralltechnicalcapabilitiesandoperationalefficiencyonthebackofstrongerR&D.
(3)Enhancingmarketexpansioncapabilitiesandincreasingmarketshare
TheCompanyisleadingtheindustrywithitsstrongcompetitiveadvantagesinproductR&D,technologies,branding,andcustomerresources.TheCompanywillstrengthenbrandbuildingforitsproductsandservices,furtherimproveitsmarketexpansioncapabilities,andincreasecustomerrecognitionofitsproductsandservices.Whilecementingcooperationwithexistingcustomers,theCompanywillcontinuouslyexpandnewcustomerstofurtherincreaseitsmarketshare.
(4)ImprovingtheCompany’sdividenddistributionpolicyandenhancinginvestorreturnsandprotection
TheCompanywillfurtherimproveitsdividenddistributionpolicyandmakeinstitutionalarrangementsindocumentssuchastheArticlesofAssociation(Draft)applicableaftergoingpublictospecifytheconditions,ratio,andformofdividenddistribution,thusestablishingawell-conceived,sustainable,andstableshareholderreturnmechanismtoensurethetimelinessandcontinuityofshareholderreturnsandprotectinvestorinterests.
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Note10:
(1)IherebycommitnottooversteppingmyauthorityintheCompany’smanagementactivitiesandwillnotinfringeontheCompany’sinterests.
(2)IherebycommittofaithfullyfulfillingtheCompany’sdilutionmitigationmeasuresandmyassociatedcommitments.IfIviolatethesecommitmentsorrefusetofulfillthem,Iwillpubliclyexplainandapologizeattheshareholders’generalmeetingoftheCompanyandinthenewspaperdesignatedbytheSSEortheCSRC.IfthiscauseslossestotheCompanyorshareholders,IwillbearthelegalresponsibilityforcompensatingtheCompanyorshareholders.Note11:
(1)Iherebycommitnottotransferringbenefitstootherunitsorindividualsgratuitouslyorunderunfairconditions,norjeopardizingtheCompany’sinterestsbyothermeans.
(2)IwillfullysupportandcooperatewiththeCompany’seffortstoregulatetheconsumptionbehaviorsofdirectorsandseniormanagement.Anyofmywork-relatedconsumptionwilltakeplacewithinthenecessaryscopeoffulfillingmyresponsibilitiestotheCompany.IwilladheretotheCompany’ssupervisionandmanagementtoavoidwasteorexcessivespending.
(3)Iwillstrictlyadheretorelevantlaws,regulations,andrequirementsfromtheCSRCandtheSSEaswellastheregulationsontheconductofdirectorsandtheseniormanagementoftheCompany.Iwillnotusecompanyassetsforinvestmentsorconsumptionactivitiesunrelatedtomyduties.
(4)IwilldiligentlyensurethatthecompensationsystemformulatedbytheBoardofDirectorsortheCompensationCommitteeislinkedtotheCompany’sperformancemeasures,andwillvoteinfavorofthecompensationsystemproposalwhenitisreviewedbytheBoardofDirectorsandshareholders’generalmeeting.
(5)IftheCompanywouldprovideequityincentivesforitsemployeesinthefuture,IwillfullysupportthecouplingoftheexerciseconditionsofsuchincentiveswiththeimplementationoftheCompany’scompensationmeasures,andwillvoteinfavoroftheemployeeequityincentiveproposalwhenreviewedbytheBoardofDirectorsorshareholders’generalmeeting(ifIhavevotingrights).
(6)IfIviolatetheabovecommitments,Iwillpubliclyexplainandapologizeattheshareholders’generalmeetingoftheCompanyandinthenewspaperdesignatedbytheSSEortheCSRC.Ivoluntarilyacceptself-disciplinarymeasuresimposedbytheSSEandtheindustrialassociationsgoverninglistedcompanies.IfmyviolationcauseslossestotheCompanyorshareholders,Iwillbearthelegalresponsibilityforcompensation.
Note12:
TheCompany’sIPOprospectusandotherdisclosurematerialsforlistingontheSSESTARMarketdonotcontainfalserecords,misleadingstatements,ormajoromissions.TheCompanyassumesbothindividualandjointlegalresponsibilityfortheirtruthfulness,accuracy,andcompleteness.
IftheIPOprospectusandotherdisclosurematerialscontainfalserecords,misleadingstatements,ormajoromissionsthatcauseinvestorstosufferlossesinsecuritiestradingoftheCompany’sstock,theCompanywillcompensatetheinvestorsfortheirlossesaccordingtothelaw.Thespecificmeasuresare:afterCSRCissuesaformaladministrativepenaltydecisionandconfirmstheCompany’sviolationoftheaboveregulations,theCompanywillregisterpublicinvestorswhomakeclaimsandwillpromptlypaycompensationafterverifyingtheirqualificationsandamountofloss.
IftheShanghaiStockExchange,securitiesregulatoryauthorities,orothercompetentauthoritiesdeterminethattheIPOprospectusandotherdisclosurematerialscontainfalserecords,misleadingstatements,ormajoromissions,andsuchcircumstancessignificantlyandsubstantiallyaffectthedeterminationofwhethertheCompanymeetstheconditionsfortheIPOandlistingasprescribedbylaws,regulations,andnormativedocuments,theCompanycommitstorepurchasingallnewlyissuedsharesfromtheCompany’sIPOinaccordancewiththelawthroughthefollowingmeasures:
(1)Underlegallypermittedcircumstances,iftheabovesituationsoccurduringtheperiodbetweenthecompletionoftheissuanceoftheCompany’snewsharesinitsinitialpublicofferingandtheirlistingfortrading,andareconfirmedbytheSSE,CSRC,orothercompetentauthorities,theCompanywill,within30working
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daysfromthedateofsuchconfirmation,repurchaseallnewlyissuedsharesoftheIPOfromonlineandofflineinvestorsattheissuepriceplusinterestatbankdepositratesforthesameperiod.
(2)Underlegallypermittedcircumstances,iftheabovesituationsoccurafterthenewlyissuedshareshavebeenlistedfortrading,andareconfirmedbytheSSE,CSRC,orothercompetentauthorities,theCompanywill,withinfiveworkingdaysfromthedateofsuchconfirmation,formulateasharerepurchaseplanandsubmititforapprovalattheshareholders’generalmeeting.TherepurchasewillbeimplementedthroughtheSSEtradingsystematapricebasedontheissuepriceandadjustedaccordingtorelevantmarketfactors.Anydividenddistributions,bonusshares,capitalizedcapitalreserves,orsimilaradjustmentsafterthelistingwillbereflectedintheissueprice.Whenimplementingthesharerepurchase,ifthereareotherlegal,regulatory,ornormativeprovisions,thoseprovisionsshallprevail.Note13:
TheprospectusandotherdisclosurematerialsrelatedtotheIPOandlistingofWuxiAutowellTechnologyCo.,Ltd.ontheSSESTARMarketdonotcontainanyfalserecords,misleadingstatements,ormajoromissions.Iassumecorrespondinglegalresponsibilityforthetruthfulness,accuracy,andcompletenessofthecontentintheprospectusandotherdisclosurematerials.
IftheSSE,CSRC,orothercompetentdepartmentsdeterminethattheIPOprospectusandotherdisclosurematerialscontainfalserecords,misleadingstatements,ormajoromissions,andsuchcircumstancessignificantlyandsubstantiallyaffectthedeterminationofwhethertheCompanymeetstheconditionsfortheIPOandlistingasprescribedbylaws,IherebycommittomakingeveryefforttoensuretheCompanyrepurchasesallitsnewlyissuedsharesinaccordancewiththelaw.
IftheIPOprospectusandotherdisclosurematerialscontainfalserecords,misleadingstatements,ormajoromissionsthatcauseinvestorstosufferlossesinsecuritiestradingoftheCompany'sstock,Iwillcompensatetheinvestorsfortheirlossesaccordingtothelaw.
Note14:
TheprospectusandotherdisclosurematerialsrelatedtotheIPOandlistingofWuxiAutowellTechnologyCo.,Ltd.ontheSSESTARMarketdonotcontainanyfalserecords,misleadingstatements,ormajoromissions.Iassumecorrespondinglegalresponsibilityforthetruthfulness,accuracy,andcompletenessofthecontentintheprospectusandotherdisclosurematerials.
IftheShanghaiStockExchange,CSRC,orothercompetentdepartmentsdeterminethattheIPOprospectusandotherdisclosurematerialscontainfalserecords,misleadingstatements,ormajoromissions,andsuchcircumstancessignificantlyandsubstantiallyaffectthedeterminationofwhethertheCompanymeetstheconditionsfortheIPOandlistingasprescribedbylaws,IherebycommittomakingeveryefforttoensuretheCompanyrepurchasesallitsnewlyissuedsharesinaccordancewiththelaw.
IftheIPOprospectusandotherdisclosurematerialscontainfalserecords,misleadingstatements,ormajoromissionsthatcauseinvestorstosufferlossesinsecuritiestradingoftheCompany’sstock,Iwillcompensatetheinvestorsfortheirlossesaccordingtothelaw.
Note15:
Inthethirdextraordinaryshareholders’generalmeetingin2019,theCompanypassedaresolutionontheproposalfortheCompanytoissuerelatedlettersofcommitmentandproposecorrespondingrestrictivemeasuresinrelationtoitsinitialpublicofferingofordinaryshares(A-shares)andlistingontheSSESTARMarket.TofullyprotecttheinterestsoftheCompany’sshareholders,iftheCompanyfailstofulfill,isunabletofulfill,orisunabletofulfillontimethecommitmentsitmade(exceptforsituationscausedbyuncontrollableobjectivereasonssuchaschangesinrelevantlaws,regulations,policies,naturaldisasters,andotherforcemajeureevents),theCompanyvoluntarilyassumesthecorrespondinglegalconsequencesandcivilcompensationresponsibilities.TheCompanymakesthefollowingcommitmentsregardingtherestrictivemeasuresfornotfulfillingthecommitmentsmadeduringthelistingprocess:
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(1)TheCompanywillstrictlyfulfillallobligationsandresponsibilitiesrelatedtothepubliccommitmentsmadeduringtheIPOandlistingontheSSESTARMarket.
(2)TheCompanywillpromptlyandfullydisclosethespecificreasonsforanyfailuretofulfill,inabilitytofulfill,ordelayinfulfillingthecommitments.
(3)IftheCompanyfailstofulfillitsobligationsorresponsibilitiesinthecommitments,theCompanywillpubliclyexplainandapologizetoshareholdersandpublicinvestorsinshareholders’generalmeetingsandinnewspapersdesignatedbytheCSRC.TheCompanywilldisclosethereasonsforthefailuretofulfillthecommitments,proposesupplementaryoralternativecommitments,andassumerelevantlegalresponsibilities,includingcompensationamount.ShareholdersandpublicinvestorshavetherighttorequestthroughlegalmeansthattheCompanyfulfillitscommitments.
(4)TheCompanyshallnotincreasethesalariesorallowancesofdirectors,supervisors,andseniormanagementinanyformuntilalladverseeffectsoftheunfulfilledcommitmentshavebeencompletelyeliminated.
Note16:
IwillstrictlyfulfillallobligationsandresponsibilitiesrelatedtoallthepubliccommitmentsmadeduringtheinitialpublicofferingofsharesandlistingofWuxiAutowellTechnologyCo.,Ltd.(hereinafterreferredtoas“theCompany”)ontheSSESTARMarket.
IfIfailtofullyandeffectivelyfulfilltheobligationsorresponsibilitiesrelatedtotheaforementionedcommitmentsduetoreasonsotherthanforcemajeure,Iherebycommittotakingthefollowingmeasuresdependingonthespecificcircumstances:
(1)Iwillpubliclyexplainthereasonsforfailingtofullyandeffectivelyfulfillthecommitmentsandapologizetoshareholdersandpublicinvestorsatthe
Company’sshareholders’generalmeetingandinmediadesignatedbytheSSEortheCSRC.
(2)Iwillcompensatepublicinvestorswithmyowncapitalfordirectlossesincurredduetorelianceonthecommitmentsfortrading.Thecompensationamountwillbedeterminedthroughnegotiationwiththeinvestorsorasdecidedbysecuritiesregulatoryauthoritiesorjudicialbodies.
(3)Thelock-upperiodforsharesIholddirectlyorindirectlyintheCompanywillbeautomaticallyextendeduntilalladverseeffectsresultingfrommyfailuretofulfilltherelevantcommitmentsarecompletelyeliminated,exceptincasesofmandatorytransferduetoenforcement,corporaterestructuring,orcommitmentstoprotectinvestorinterests.
(4)IwillnotreceiveanydividendsorbonussharesdistributedbytheCompany,directlyorindirectly,untilalladverseeffectsresultingfrommyfailuretofulfilltherelevantcommitmentsarecompletelyeliminated.
(5)AnygainsobtainedbymeduetofailuretofullyandeffectivelyfulfillthecommitmentswillbelongtotheCompany.IshallpaysuchgainstotheCompany’sdesignatedaccountwithinfiveworkingdaysfromthedateofreceipt.
IfIfailtofullyandeffectivelyfulfillthepubliccommitmentsduetoforcemajeure,aftertheforcemajeureeventceasestoexist,IwillpubliclyexplainthespecificcircumstancesoftheforcemajeureeventthatcausedthefailuretofulfillthecommitmentsandapologizetotheCompany’sshareholdersandpublicinvestorsattheCompany’sshareholders’generalmeetingandinmediadesignatedbytheSSEortheCSRC.Additionally,IwillpromptlyseeksolutionstominimizeinvestorlossesandprotecttheinterestsoftheCompanyanditsinvestors.Iwillalsoclarifywhethertheoriginalcommitmentswillcontinueaftertheforcemajeureceasestoexist.Ifnot,Iwillproposenewcommitmentsbasedontheactualsituation.
Note17:
IwillstrictlyfulfillallobligationsandresponsibilitiesrelatedtoallthepubliccommitmentsmadeduringtheinitialpublicofferingofsharesandlistingofWuxiAutowellTechnologyCo.,Ltd.(hereinafterreferredtoas“theCompany”)ontheSSESTARMarket.
IfIfailtofullyandeffectivelyfulfilltheobligationsorresponsibilitiesrelatedtotheaforementionedcommitmentsduetoreasonsotherthanforcemajeure,Iherebycommittotakingthefollowingmeasuresdependingonthespecificcircumstances:
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(1)IwillpubliclyexplainthereasonsforfailingtofullyandeffectivelyfulfillthecommitmentsandapologizetoshareholdersandpublicinvestorsattheCompany’sshareholders’generalmeetingandinmediadesignatedbytheSSEortheCSRC.
(2)Iwillcompensatepublicinvestorswithmyowncapitalfordirectlossesincurredduetorelianceonthecommitmentsfortrading.Thecompensationamountwillbedeterminedthroughnegotiationwiththeinvestorsorasdecidedbysecuritiesregulatoryauthoritiesorjudicialbodies.
(3)Thelock-upperiodforsharesIholddirectlyorindirectlyintheCompanywillbeautomaticallyextendeduntilalladverseeffectsresultingfrommyfailuretofulfilltherelevantcommitmentsarecompletelyeliminated,exceptincasesofmandatorytransferduetoenforcement,corporaterestructuring,orcommitmentstoprotectinvestorinterests.
(4)IwillnotreceiveanydividendsorbonussharesdistributedbytheCompany,directlyorindirectly,untilalladverseeffectsresultingfrommyfailuretofulfilltherelevantcommitmentsarecompletelyeliminated.
(5)AnygainsobtainedbymeduetofailuretofullyandeffectivelyfulfillthecommitmentswillbelongtotheCompany.IshallpaysuchgainstotheCompany'sdesignatedaccountwithinfiveworkingdaysfromthedateofreceipt.
IfIfailtofullyandeffectivelyfulfillthepubliccommitmentsduetoforcemajeure,aftertheforcemajeureeventceasestoexist,IwillpubliclyexplainthespecificcircumstancesoftheforcemajeureeventthatcausedthefailuretofulfillthecommitmentsandapologizetotheCompany’sshareholdersandpublicinvestorsattheCompany’sshareholders’generalmeetingandinmediadesignatedbytheSSEortheCSRC.Additionally,IwillpromptlyseeksolutionstominimizeinvestorlossesandprotecttheinterestsoftheCompanyanditsinvestors.Iwillalsoclarifywhethertheoriginalcommitmentswillcontinueaftertheforcemajeureceasestoexist.Ifnot,Iwillproposenewcommitmentsbasedontheactualsituation.
Note18:
IwillstrictlyfulfillallobligationsandresponsibilitiesrelatedtoallthepubliccommitmentsmadeduringtheinitialpublicofferingofsharesandlistingofWuxiAutowellTechnologyCo.,Ltd.(hereinafterreferredtoas“theCompany”)ontheSSESTARMarket.
IfIfailtofullyandeffectivelyfulfilltheobligationsorresponsibilitiesrelatedtotheaforementionedcommitmentsduetoreasonsotherthanforcemajeure,Iherebycommittotakingthefollowingmeasuresdependingonthespecificcircumstances:
(1)Iwillpubliclyexplainthereasonsforfailingtofullyandeffectivelyfulfillthecommitmentsandapologizetoshareholdersandpublicinvestorsatthe
Company’sshareholders’generalmeetingandinmediadesignatedbytheSSEortheCSRC.
(2)Iwillcompensatepublicinvestorswithmyowncapitalfordirectlossesincurredduetorelianceonthecommitmentsfortrading.Thecompensationamountwillbedeterminedthroughnegotiationwiththeinvestorsorasdecidedbysecuritiesregulatoryauthoritiesorjudicialbodies.
(3)Thelock-upperiodforsharesIholddirectlyorindirectlyintheCompanywillbeautomaticallyextendeduntilalladverseeffectsresultingfrommyfailuretofulfilltherelevantcommitmentsarecompletelyeliminated,exceptincasesofmandatorytransferduetoenforcement,corporaterestructuring,orcommitmentstoprotectinvestorinterests.
(4)IwillnotreceiveanydividendsorbonussharesdistributedbytheCompany,directlyorindirectly,untilalladverseeffectsresultingfrommyfailuretofulfilltherelevantcommitmentsarecompletelyeliminated.
(5)AnygainsobtainedbymeduetofailuretofullyandeffectivelyfulfillthecommitmentswillbelongtotheCompany.IshallpaysuchgainstotheCompany'sdesignatedaccountwithinfiveworkingdaysfromthedateofreceipt.
IfIfailtofullyandeffectivelyfulfillthepubliccommitmentsduetoforcemajeure,aftertheforcemajeureeventceasestoexist,IwillpubliclyexplainthespecificcircumstancesoftheforcemajeureeventthatcausedthefailuretofulfillthecommitmentsandapologizetotheCompany’sshareholdersandpublicinvestorsattheCompany’sshareholders’generalmeetingandinmediadesignatedbytheSSEortheCSRC.Additionally,Iwillpromptlyseeksolutionsto
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minimizeinvestorlossesandprotecttheinterestsoftheCompanyanditsinvestors.Iwillalsoclarifywhethertheoriginalcommitmentswillcontinueaftertheforcemajeureceasestoexist.Ifnot,Iwillproposenewcommitmentsbasedontheactualsituation.
Note19:
IwillstrictlyfulfillallobligationsandresponsibilitiesrelatedtoallthepubliccommitmentsmadeduringtheinitialpublicofferingofsharesandlistingofWuxiAutowellTechnologyCo.,Ltd.(hereinafterreferredtoas“theCompany”)ontheSSESTARMarket.IfIfailtofullyandeffectivelyfulfilltheobligationsorresponsibilitiesrelatedtotheaforementionedcommitmentsduetoreasonsotherthanforcemajeure,Iherebycommittotakingthefollowingmeasuresdependingonthespecificcircumstances:
(1)Iwillpubliclyexplainthereasonsforfailingtofullyandeffectivelyfulfillthecommitmentsandapologizetoshareholdersandpublicinvestorsatthe
Company’sshareholders’generalmeetingandinmediadesignatedbytheSSEortheCSRC.
(2)Iwillcompensatepublicinvestorswithmyowncapitalfordirectlossesincurredduetorelianceonthecommitmentsfortrading.Thecompensationamountwillbedeterminedthroughnegotiationwiththeinvestorsorasdecidedbysecuritiesregulatoryauthoritiesorjudicialbodies.
(3)Thelock-upperiodforsharesIholddirectlyorindirectlyintheCompanywillbeautomaticallyextendeduntilalladverseeffectsresultingfrommyfailuretofulfilltherelevantcommitmentsarecompletelyeliminated,exceptincasesofmandatorytransferduetoenforcement,corporaterestructuring,orcommitmentstoprotectinvestorinterests.
(4)IwillnotreceiveanydividendsorbonussharesdistributedbytheCompany,directlyorindirectly,untilalladverseeffectsresultingfrommyfailuretofulfilltherelevantcommitmentsarecompletelyeliminated.
(5)AnygainsobtainedbymeduetofailuretofullyandeffectivelyfulfillthecommitmentswillbelongtotheCompany.IshallpaysuchgainstotheCompany'sdesignatedaccountwithinfiveworkingdaysfromthedateofreceipt.
IfIfailtofullyandeffectivelyfulfillthepubliccommitmentsduetoforcemajeure,aftertheforcemajeureeventceasestoexist,IwillpubliclyexplainthespecificcircumstancesoftheforcemajeureeventthatcausedthefailuretofulfillthecommitmentsandapologizetotheCompany’sshareholdersandpublicinvestorsattheCompany’sshareholders’generalmeetingandinmediadesignatedbytheSSEortheCSRC.Additionally,IwillpromptlyseeksolutionstominimizeinvestorlossesandprotecttheinterestsoftheCompanyanditsinvestors.Iwillalsoclarifywhethertheoriginalcommitmentswillcontinueaftertheforcemajeureceasestoexist.Ifnot,Iwillproposenewcommitmentsbasedontheactualsituation.
Note20:
GeZhiyongandhisconcertedparties,LiWen,WuxiAoli,andWuxiAochuang,commitnottotransferringtheirsharesheldbeforethisissuanceforaperiodof18monthsstartingfromtheendoftheissuance.
Note21:
Thesharessubscribedthroughthisissuanceshallnotbetransferredforaperiodofthirty-sixmonthsfromtheendoftheissuance.SharesacquiredbyGeZhiyongfromthisissuanceduetostockdividends,capitalizedcapitalreserves,orothersimilarmethodsmustalsocomplywiththeabovelock-uparrangement.
GeZhiyongagreestoalock-upcommitmentforthesharessubscribedthroughthisissuanceinaccordancewithrelevantlaws,regulations,theCSRC,theSSE,andthecompany’srequirements,andhandlestherelevantsharelock-upmatters.Iflawsandregulationsspecifyadifferentlock-upperiod,thoseprovisionsshallapply.Transfersafterthelock-upperiodwillbesubjecttotherelevantregulationsoftheCSRCandSSE.
Note22:
IamawarethatthefundsbeinglentareforGeZhiyongtosubscribeforthesharesissuedbyATW.Thislendingoffundsindeedconstitutesaloan,andIwilladheretothetermsandinterestratespecifiedintheLoanCooperationAgreementofIntent,SupplementaryAgreementtotheLoanCooperationAgreementofIntent,
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andSupplementaryAgreementtotheLoanCooperationAgreementofIntent(II),whichstateatermof24months,andthatonemonthbeforethetermexpires,GeZhiyongmayrequestinwritingtoextendthetermbysixmonthsunderthesameconditionsbeforetheoriginaltermexpires,andwithmyconsent,anadditionalsix-monthextensionmaybegranted.Theinterestrateis9%perannum(simpleinterest).IdonothaveanyarrangementsforentrustedshareholdingorotherinterestswiththeborrowerGeZhiyong,andtherelatedpartiesunderhiscontrol.Iamwillingtoacceptrelevantregulatoryinspectionsregardingtheabovecommitments.Ifthesecommitmentsareviolated,anyrelatedbenefitsfromtheviolationswillbelongtoATW.Note23:
Thefundslentindeedconstitutealoan.NeitherInortherelatedpartiesundermycontrolhaveanyarrangementsforentrustedshareholding,compensation,promisedreturns,orotherinterestswiththelender.Iamwillingtoacceptrelevantregulatoryinspectionsregardingtheabovecommitments.Ifthesecommitmentsareviolated,anyrelatedbenefitsfromtheviolationswillbelongtothelistedcompany.Note24:
1.Specificmeasuresforfillingthegapinreturns
Toprotecttheinterestsofinvestors,reducetheriskofimmediatereturndilution,andenhanceshareholders’returns,theCompanyplanstotakevariousmeasurestoaddressthegap.However,theCompanyemphasizesthatthemeasuresoutlineddonotguaranteefutureprofits.
(1)Strengthenmanagementtoensureproperandeffectiveuseofthefundsraised
AccordingtoChina’sCompanyLaw,SecuritiesLaw,theregulationsonthemanagementanduseoffundsraisedbylistedcompanieslaidoutbyCSRC,SSE’sstocklistingrulesfortheSSESTARMarket(ShangZhenFa[2019]No.22),andotherrelevantlawsandregulations,theCompanyhasestablishedareality-basedfundmanagementsystem.Thissystemoutlinesclearregulationsondedicatedaccountmanagement,includingitsusageandpurposechanges,aswellasthesupervisionofraisedfunds.Afterthefundsraisedfromthisissuanceareputinplace,theCompany’sBoardofDirectorswillcontinuouslysupervisethededicatedmanagementofthesefunds,ensuretheirusefordesignatedinvestmentprojects,conductregularinternalaudits,andcooperatewithregulators,banks,andsponsorsforinspectionsandsupervisiontoensureproperandcompliantuse.
(2)Enhancebusinessmanagementandimproveoperationalefficiency
Afterthefundsfromthisissuanceareinplace,theCompanywillcontinuetoimproveinternaloperationalmanagement,optimizebusinessprocessesandinternalcontrols,reduceoperationalcosts,andenhanceassetutilizationefficiency.Additionally,theCompanywilladvanceitstalentdevelopmentsystem,optimizeincentivemechanisms,andworktoimprovethemotivationandcreativityofallemployees.Thesemeasuresaimtoenhanceoperationalefficiency,reducecosts,andboostoverallbusinessperformance.
(3)Furtherrefineprofitdistributionpoliciestooptimizeinvestorreturns
TheCompanywillimproveitsprofitdistributionsysteminaccordancewiththeCSRC’sregulationsandguidelinesoncashdividendsoflistedcompanies.Thiswillstrengthentheinvestorreturnmechanismtoensuretheprotectionofshareholders’interests,especiallyminorityshareholders.TheCompanyhasdevelopedaneffectivemechanismrepresentedbyitsThree-YearPlanforShareholderDividendPoliciesofWuxiAutowellTechnologyCo.,Ltd.,2021–2023.Theplanemphasizesreasonablereturnstoinvestorsandmaintainsthestabilityandcontinuityofprofitdistributionpolicies.Afterissuingsharestospecificinvestors,theCompanywillstrictlyadheretorelevantlawsandtheshareholderreturnplantoprotectinvestors’interests.
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2.Commitmentstomitigateimmediatereturndilutionfromshareissuancetospecificinvestors
(1)CommitmentsfromtheCompany’sdirectorsandseniormanagementA.Iherebycommitnottotransferringbenefitstootherunitsorindividualsgratuitouslyorunderunfairconditions,norjeopardizingtheCompany’sinterestsbyothermeans.B.Iwillimposerestrictionsontheofficialspendingbehaviorsofdirectors,includingmyself,andtheseniormanagement.C.Iwillstrictlyadheretorelevantlaws,regulations,andrequirementsfromtheCSRCandtheSSEaswellastheregulationsontheconductofdirectorsandtheseniormanagementoftheCompany.Iwillnotusecompanyassetsforinvestmentsorconsumptionactivitiesunrelatedtomyduties.D.IwilldiligentlyensurethatthecompensationsystemformulatedbytheBoardofDirectorsortheCompensationandEvaluationCommitteeislinkedtotheimplementationoftheCompany’sdilutionmitigationmeasures,andwillvoteinfavorofsuchcompensationproposalsattheBoardofDirectorsandshareholders’generalmeeting.E.IftheCompanywouldprovideequityincentivesforitsemployeesinthefuture,IwillfullysupportthecouplingoftheexerciseconditionsofsuchincentiveswiththeimplementationoftheCompany’scompensationmeasures,andwillvoteinfavoroftheemployeeequityincentiveproposalwhenreviewedbytheBoardofDirectorsorshareholders’generalmeeting(ifIhavevotingrights).F.IfIviolatetheabovecommitments,Iwillpubliclyexplainandapologizeattheshareholders’generalmeetingoftheCompanyandinthenewspaperdesignatedbytheSSEortheCSRC.Ivoluntarilyacceptself-disciplinarymeasuresimposedbytheSSEandtheindustrialassociationsgoverninglistedcompanies.IfmyviolationcauseslossestotheCompanyorshareholders,Iwillbearthelegalresponsibilityforcompensation.
(2)CommitmentsfromtheCompany’sactualcontrollersA.IherebycommitnottointerferingwiththeCompany’smanagementactivitiesbeyondmyauthorityandnottoencroachingupontheCompany’sinterests.B.IherebycommittofaithfullyfulfillingtheCompany’sdilutionmitigationmeasuresandmyassociatedcommitments.IfIviolatethesecommitmentsorrefusetofulfillthem,Iwillpubliclyexplainandapologizeattheshareholders’generalmeetingoftheCompanyandinthenewspaperdesignatedbytheSSEortheCSRC.IfthiscauseslossestotheCompanyorshareholders,IwillbearthelegalresponsibilityforcompensatingtheCompanyorshareholders.
Note25:
(1)CommitmentsfromtheCompany’sdirectorsandseniormanagementA.Iherebycommitnottotransferringbenefitstootherunitsorindividualsgratuitouslyorunderunfairconditions,norjeopardizingtheCompany’sinterestsbyothermeans.B.Iwillimposerestrictionsontheofficialspendingbehaviorsofdirectors,includingmyself,andtheseniormanagement.C.Iwillstrictlyadheretorelevantlaws,regulations,andrequirementsfromtheCSRCandtheSSEaswellastheregulationsontheconductofdirectorsandtheseniormanagementoftheCompany.Iwillnotusecompanyassetsforinvestmentsorconsumptionactivitiesunrelatedtomyduties.
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D.IwilldiligentlyensurethatthecompensationsystemformulatedbytheBoardofDirectorsortheCompensationandEvaluationCommitteeislinkedtotheimplementationoftheCompany’sdilutionmitigationmeasures,andwillvoteinfavorofsuchcompensationproposalsattheBoardofDirectorsandshareholders’generalmeeting.E.IftheCompanywouldprovideequityincentivesforitsemployeesinthefuture,IwillfullysupportthecouplingoftheexerciseconditionsofsuchincentiveswiththeimplementationoftheCompany’scompensationmeasures,andwillvoteinfavoroftheemployeeequityincentiveproposalwhenreviewedbytheBoardofDirectorsorshareholders’generalmeeting(ifIhavevotingrights).F.IfIviolatetheabovecommitments,Iwillpubliclyexplainandapologizeattheshareholders’generalmeetingoftheCompanyandinthenewspaperdesignatedbytheSSEortheCSRC.Ivoluntarilyacceptself-disciplinarymeasuresimposedbytheSSEandtheindustrialassociationsgoverninglistedcompanies.IfmyviolationcauseslossestotheCompanyorshareholders,Iwillbearthelegalresponsibilityforcompensation.
(2)CommitmentsfromtheCompany’sactualcontrollers
A.IherebycommitnottointerferingwiththeCompany’smanagementactivitiesbeyondmyauthorityandnottoencroachingupontheCompany’sinterests.
B.IherebycommittofaithfullyfulfillingtheCompany’sdilutionmitigationmeasuresandmyassociatedcommitments.IfIviolatethesecommitmentsorrefusetofulfillthem,Iwillpubliclyexplainandapologizeattheshareholders’generalmeetingoftheCompanyandinthenewspaperdesignatedbytheSSEortheCSRC.IfthiscauseslossestotheCompanyorshareholders,IwillbearthelegalresponsibilityforcompensatingtheCompanyorshareholders.
Note26:
(1)Commitmentsfromshareholdersholdingmorethan5%stake,directors(excludingindependentdirectors),supervisors,andseniormanagement
①IwilldecidewhethertoparticipateinthesubscriptionoftheCompany'sconvertiblebonds(CBs)basedonrelevantregulationssuchasChina’sSecuritiesLawandtheCSRC’sAdministrativeMeasuresforConvertibleCorporateBonds,aswellasthemarketconditionsatthetimeofissuance.Iwillstrictlyfulfillthecorrespondinginformationdisclosureobligations.
②IftheintervalbetweenthedateoftheissuanceoftheCompany’sconvertiblebondandthelastdateonwhichI,myspouse,parents,orchildrenreducedourholdingsintheCompany’sstockislessthansixmonths(inclusive),neitherInormyspouse,parents,orchildrenwillparticipateinthesubscriptionoftheCompany’sconvertiblebonds.
③IfI,myspouse,parents,orchildrenparticipateintheCompany’sconvertiblebondissuance,wewillnotreduceourholdingsintheCompany’sstockortheissuedconvertiblebondsinanywaywithinsixmonthsfromthecompletionofthesubscription.
④IwillstrictlyadheretotherelevantregulationsofChina’sSecuritiesLawregardingthetradingoflistedcompanystocksandconvertiblebonds,andwillnotengageinanybehaviorthatviolatesArticle44oftheSecuritiesLaw,includingtradingthroughauctiontrading,blocktrading,ornegotiatedtransfer,norwillIengageindirectorindirectshort-termtradingorotherillegalactivities.
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⑤IvoluntarilymaketheabovecommitmentsandagreetobeboundbythisLetterofCommitment.IfI,myspouse,parents,orchildrenviolatethesecommitmentsbyreducingholdingsoftheCompany’sstockorconvertiblebonds,allgainsfromsuchreductionswillbelongtotheCompany,andIwillbearthelegalresponsibilitiesarisingfromthisaccordingtothelaw.
(2)Commitmentsfromindependentdirectors
①IherebycommitthatneitherI,myspouse,parents,norchildrenwillparticipateinthesubscriptionoftheCompany’sconvertiblebondsissuedtounspecifiedparties,norwillweentrustotherstoparticipateinthesubscription.
②Iguaranteethatmyspouse,parents,andchildrenwillstrictlycomplywiththeregulationsonshort-termtradingandwillbearthelegalresponsibilitiesarisingfromthis.
③IfIviolatetheabovecommitments,Iwillbearthelegalresponsibilitiesarisingfromthisaccordingtothelaw.
Note27:
FromJune21,2024,toDecember31,2024,theCompany’sactualcontrollers,Mr.GeZhiyongandMr.LiWen,willnotreducetheirdirectlyheldsharesinanyform.Duringthiscommitmentperiod,ifthereareanycircumstancesthatresultintheissuanceofadditionalsharesduetocapitalizedcapitalreserves,stockdividends,orrightsissues,thisnon-reductioncommitmentwillalsoapply.Iftheaforementionedpartiesviolatethiscommitment,allgainsobtainedfromthereductionofshareswillbelongtotheCompany.II.AppropriationofFundsforNon-operatingPurposesbyControllingShareholdersandOtherRelatedParties?Applicable√N/AIII.IllegalExternalGuarantees?Applicable√N/A
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IV.AuditofInterimReports?Applicable√N/AV.ChangesandHandlingofIssuesRelatedtoNon-standardAuditOpinionsintheAnnualReport2023?Applicable√N/AVI.BankruptcyandReorganization?Applicable√N/AVII.MaterialLegalProceedingsandArbitrations?TheCompanywasinvolvedinmateriallegalproceedingsorarbitrationsduringthereportingperiod.
√TheCompanywasnotinvolvedinanymaterialproceedingsorarbitrationsduringthereportingperiod.VIII.AllegedViolations,Penalties,AndRectificationMeasuresInvolvingtheListedCompany,ItsDirectors,Supervisors,SeniorManagement,ControllingShareholders,andActualControllers
□Applicable√N/AIX.IntegrityoftheCompany,ItsControllingShareholderandActualControllerintheReportingPeriod
□Applicable√N/AX.SignificantRelatedPartyTransactions(i)Relatedpartytransactionsindailyoperations
1.Mattersdisclosedininterimannouncementsthathavenotshownanyprogressorchangessubsequently
□Applicable√N/A
2.Mattersdisclosedininterimannouncementsthathavehadsubsequentprogressorchangesinimplementation
□Applicable√N/A
3.Mattersnotdisclosedininterimannouncements
□Applicable√N/A(ii)Relatedpartytransactionsregardingtheacquisitionorsalesofassetsorequity
1.Mattersdisclosedininterimannouncementsthathavenotshownanyprogressorchangessubsequently
□Applicable√N/A
2.Mattersdisclosedininterimannouncementsthathavehadsubsequentprogressorchangesinimplementation
□Applicable√N/A
3.Mattersnotdisclosedininterimannouncements
□Applicable√N/A
4.Formattersinvolvingperformancecommitments,theachievementofperformanceduringthereportingperiodshouldbedisclosed
□Applicable√N/A(iii)Relatedpartytransactionsarisingfromjointinvestmentsinexternalparties
1.Mattersdisclosedininterimannouncementsthathavenotshownanyprogressorchangessubsequently
□Applicable√N/A
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2.Mattersdisclosedininterimannouncementsthathavehadsubsequentprogressorchangesinimplementation
□Applicable√N/A
3.Mattersnotdisclosedininterimannouncements
□Applicable√N/A(iv)Relatedcreditor’srightsanddebts
1.Mattersdisclosedininterimannouncementsthathavenotshownanyprogressorchangessubsequently
□Applicable√N/A
2.Mattersdisclosedininterimannouncementsthathavehadsubsequentprogressorchangesinimplementation
□Applicable√N/A
3.Mattersnotdisclosedininterimannouncements
□Applicable√N/A(v)FinancialtransactionsbetweentheCompanyandrelatedfinancialcompanies,aswellasbetweenthefinancialcompaniesundertheCompany’scontrolandtheirrelatedparties
□Applicable√N/A(vi)Othersignificantrelatedpartytransactions
□Applicable√N/A(vii)Others
□Applicable√N/AXI.MajorContractsandFulfillment(i)Trusteeship,contractingandleasing
□Applicable√N/A
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(ii)Majorguaranteesperformedandongoingduringthereportingperiod
√Applicable?N/A
Unit:millionYuan,Currency:RMB
| ExternalguaranteesbytheCompany(excludingguaranteestosubsidiaries) | |||||||||||||||
| Guarantor | Relationshipwithlistedcompany | Guaranteedparty | Amount | Contractualdate | Startdate | Enddate | Type | Majordebts | Collateral(ifapplicable) | Completionstatus | Overdue | Overdueamount | Counterguarantee | Guaranteeforrelatedparty | Relationship |
Totalguaranteeamountduringthereportingperiod(excludingthoseforsubsidiaries)
| Totalguaranteeamountduringthereportingperiod(excludingthoseforsubsidiaries) | |||||||||||||
| Balanceofguaranteeamountattheperiodend(A)(excludingthoseforsubsidiaries) | |||||||||||||
| GuaranteesprovidedbytheCompanyanditssubsidiariesforsubsidiaries | |||||||||||||
| Guarantor | Relationshipbetweentheguarantorandlistedcompany | Guaranteedparty | Relationshipbetweentheguaranteedpartyandlistedcompany | Amount | Contractualdate | Startdate | Enddate | Type | Completionstatus | Overdue | Overdueamount | Existenceofcounterguarantee | |
| TheCompany | Headquarters | SongciElectromechanical | Controlledsubsidiary | 404.58 | April4,2023 | April4,2023 | September17,2024 | Jointliability | No | No | - | Yes | |
| TheCompany | Headquarters | XuruiTechnology | Controlledsubsidiary | 296.19 | July17,2023 | July17,2023 | March19,2025 | Jointliability | No | No | - | Yes | |
| TheCompany | Headquarters | CoshinTechnology | Controlledsubsidiary | 2.82 | December19,2023 | December19,2023 | November16,2024 | Jointliability | No | No | - | Yes | |
| TheCompany | Headquarters | AutowellIntelligentEquipment | Controlledsubsidiary | 18.49 | November15,2023 | November15,2023 | September26,2024 | Jointliability | No | No | - | No | |
| Totalguaranteeamountforsubsidiariesduringthereportingperiod | 586.19 | ||||||||||||
| Balanceofguaranteeamountforsubsidiariesattheperiodend(B) | 722.08 | ||||||||||||
| TotalguaranteesprovidedbytheCompany(includingthoseforsubsidiaries) | |||||||||||||
| Totalguaranteeamount(A+B) | 722.08 | ||||||||||||
| TotalguaranteeamountasapercentageoftheCompany’snetassets(%) | 17.34 | ||||||||||||
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| Ofwhich: | |
| Amountofguaranteesprovidedforshareholders,actualcontrollers,andtheirrelatedparties(C) | |
| Amountofdebtguaranteesprovideddirectlyorindirectlyforentitieswithaliability-to-assetratioover70%(D) | 722.08 |
| Portionofthetotalguaranteeamountinexcessof50%ofnetassets(E) | 0 |
| Totalamountofthethreekindsofguaranteesabove(C+D+E) | 722.08 |
| Jointresponsibilitiespossiblyborneforundueguarantees | |
| Explanationofguarantees | |
(iii)Othersignificantcontracts
√Applicable□N/A
1.TheCompanyhassignedacontractwithTrinaSolarCo.,Ltd.forthesupplyofPVcellsolderingstringer.Additionally,theCompany’swholly-ownedsubsidiary,WuxiAutowellSupplyChainManagementCo.,Ltd.,hassignedacontractwithTrinaSolar’swholly-ownedsubsidiary,TrinaSolarUSManufacturingModule1,LLC,forthesamestringer.Asofthedateofthisreport,theproductsarebeingdeliveredgradually(theCompanypubliclydisclosedtheimportantcontractonJanuary4,2024).
2.TheCompanyhassignedaprocurementcontractforPVcellsolderingstringerandotherequipmentwithaleadingphotovoltaicenterprise.Asofthedateofthisreport,theproductshavebeendeliveredandarependingacceptance(theCompanypubliclydisclosedtheimportantcontractonJanuary18,2024).
3.TheCompanyanditscontrolledsubsidiary,XuruiTechnology,havesignedacontractwithLONGiGreenEnergyTechnologyCo.,Ltd.forthesupplyofPVcellsolderingstringerandBCadhesiveprintingmachine.Asofthedateofthisreport,theproductsarebeingdeliveredgradually(theCompanypubliclydisclosedthebid-winningonFebruary23,2024).
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XII.ProgressReportontheUseofRaisedFunds
√Applicable?N/A(i)Overalluseofraisedfunds
√Applicable□N/A
Unit:millionYuan,Currency:RMB
| Sourceofraisedfunds | Timeforreceiptoffunds | Totalamount | Netamountafterdeductionofissuancefees(1) | Promisedinvestmentamountintheprospectus(2) | Excessiveamountraised(3)=(1)-(2) | Amountofraisedfundsinvestedasoftheperiodend(4) | Ofwhich:Amountofexcessivelyraisedfundsinvestedasoftheperiodend(5) | Progressofraisedfundsinvestedasoftheperiodend(%)(6)=(4)/(1) | Progressofexcessivelyraisedfundsinvestedasoftheperiodend(%)(7)=(5)/(3) | Annualinvestment | Annualinvestment(%)(9)=(8)/(1) | Amountofraisedfundswithachangedpurpose | |
| Stockissuancetospecifictargets | August22,2022 | 530.00 | 524.47 | 524.47 | - | 285.95 | - | 54.52% | - | 20.46 | 3.90% | - | |
| Issuanceofconvertiblebonds | August16,2023 | 1,140.00 | 1,132.91 | 1,132.91 | - | 212.37 | - | 18.75% | - | 161.79 | 14.28% | - | |
| Total | / | 1,670.00 | 1,657.38 | 1,657.38 | 498.32 | / | / | 182.25 | / |
(ii)Detailsofprojectsfundedbyraisedfunds
√Applicable□N/A
1.Detailedbreakdownoftheuseofraisedfunds
√Applicable□N/A
Unit:millionYuan,Currency:RMB
| Sourceofraised | Projectname | Projecttype | Projectspromisedin | Changeininvestm | Plannedinvestment | Annualinvestment | Cumulativeinvestm | Progressofcumulat | Expecteddate | Completionstatus | Progressinline | Reasonsfor | Benefitsinthis | BenefitsorR&D | Majorchangein | Surplusamoun |
/
| funds | prospectus | ent | amount(1) | amount | entamountasoftheperiodend(2) | iveinvestment(%)(3)=(2)/(1) | forreachingusablecondition | withplan | delay | year | resultsrealized | feasibility;reasonsifany | t | |||
| Stockissuancetospecifictargets | R&Dandindustrializationofadvancedintelligentequipment | R&D | Yes | No | 290.00 | 18.46 | 79.48 | 27.41% | No | Yes | ||||||
| Stockissuancetospecifictargets | Technologyreservefunds | Others | Yes | No | 150.00 | 2.00 | 122.00 | 81.33% | No | Yes | ||||||
| Stockissuancetospecifictargets | Replenishmentofworkingcapital | Others | Yes | No | 84.47 | - | 84.47 | 100.00% | No | Yes | ||||||
| IssuanceofCBs | Platform-basedadvancedintelligentequipmentandsmartfactories | Production&construction | Yes | No | 1,032.91 | 159.29 | 209.71 | 20.30% | No | Yes | ||||||
| IssuanceofCBs | LabforadvancedmetalizationtechnologyandequipmentforPVcells | R&D | Yes | No | 60.00 | 1.70 | 1.86 | 3.09% | No | Yes | ||||||
| IssuanceofCBs | R&Dandindustrializationofopticalinspection | R&D | Yes | No | 40.00 | 0.80 | 0.80 | 2.01% | No | Yes |
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| equipmentforadvancedsemiconductorpackaging | |||||||||||||||
| Total | / | / | / | / | 1,657.38 | 182.25 | 498.32 | / | / | / | / | / | / | / |
Note:1.TheprogressoftheR&Dandindustrializationoftheadvancedintelligentequipmentprojectisslightlybehindschedule,mainlydueto:
(1)TOPConbatteryequipmentproject:TheTOPContechnologyhasundergonerapidprogressinrecentyears.TheCompanyplanstoevaluatetheadditionofnewtechnologicalmodulesandequipmentproductsforR&DontopoftheoriginalinvestmentplanforTOPConbatteryequipment.
(2)Coresemiconductorpackagingandtestingequipmentproject:Asthesemiconductormarketentersanewgrowthcycle,thereisemergingdemandforrelatedproducts.TheCompanyplanstoexploretheapplicationoftheseproductsinpowerdevicesontopoftheoriginalR&Dplan.Additionally,theCompanyintendstofurtheradjusttheproductperformancespecificationsinthedesignoftheprojectplantobetteralignwithmarketconditionsandimprovetheoverallprojectplanning.
2.TheCompanyiscontinuingrefiningtheR&DplansforlabsofadvancedmetalizationtechnologyandequipmentforPVcellsandR&Dandindustrializationofopticalinspectionequipmentforadvancedsemiconductorpackaging.TheCompanyplanstoincreaseinvestmentgraduallyastheprojectsadvance.
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2.Breakdownoftheuseoffundsraisedabovethequota
□Applicable√N/A(iii)Changesorterminationofprojectsinvestedbyraisedfundsduringthereportingperiod
□Applicable√N/A(iv)Otherusesofraisedfundsduringthereportingperiod
1.Advanceinvestmentinfundedprojects,andreplacementofsuchinvestment
□Applicable√N/A
2.Temporaryreplenishmentofworkingcapitalwithidleraisedfunds
√Applicable□N/AOnMarch25,2024,atthe50thmeetingofthethirdBoardofDirectorsandthe44thmeetingofthethirdBoardofSupervisors,theCompanyreviewedandapprovedtheProposalonUsingaPortionofIdleRaisedFundstoTemporarilyReplenishWorkingCapital.TheboardsagreedtouseuptoRMB600millionofidleraisedfundstotemporarilyreplenishworkingcapital,solelyforproductionandoperationsrelatedtotheCompany’smainbusiness.ThetermisnomorethanninemonthsfromthedateoftheBoardofDirectors’approval.AsofJune30,2024,RMB200millionoftheidleraisedfundshadbeenusedtoreplenishworkingcapital.
3.Cashmanagementandinvestmentinrelatedproductsusingidleraisedfunds
√Applicable□N/A
Unit:millionYuan,Currency:RMB
| DateofreviewbyBoardofDirectors | Effectiveamountofraisedfundsapprovedforcashmanagement | Beginningdate | Enddate | Balanceofcashmanagementamountattheperiodend | Balanceexceedingtheapprovedquotaduringthereportingperiod |
| November8,2023 | 13 | November8,2023 | November7,2024 | 220 | No |
OnNovember8,2023,theCompanyhelditsfourthextraordinaryshareholders’generalmeetingof2023,andapprovedtheproposalontheCashManagementUsingIdleRaisedFunds.TheCompanyisauthorizedtouseuptoRMB1.3billionoftemporarilyidleraisedfundsforcashmanagement,providedthatthisdoesnotaffectthenormalprogressoftheoriginalinvestmentplans.Thefundsaretobeinvestedinlow-riskproductsthatmeetprincipalprotectionrequirementsandoffergoodliquidity,includingbutnotlimitedtoprincipal-protectedfinancialproducts,structureddeposits,negotiatedcertificatesofdeposit,timedeposits,andcalldeposits.Thetermis12monthsfromthedateoftheapprovaloftheshareholders’generalmeeting.Withintheapprovedamountandterm,fundscanbereused.Fordetailedinformation,pleaserefertotheCompany’sannouncementtitledAnnouncementonCahManagementUsingTemporarilyIdleRaisedFunds(AnnouncementNo.:2023-103)disclosedonOctober20,2023ontheShanghaiStockExchangewebsite(www.sse.com.cn)andotherdesignatedmedia.
AsofJune30,2024,theCompanyhadRMB220millionofidleraisedfundsinvestedinfinancialproductsthathavenotyetmatured.
1.Others
□Applicable√N/AXIII.OtherSignificantEvents
□Applicable√N/A
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SectionVIIChangesinSharesandParticularsofShareholders
I.ChangesinEquity(i)Anoverviewofchangesinshares
1.Statementofchangesinshares
Unit:Share
| Before | Increase/decreaseinthereportingperiod(+/-) | After | |||||||
| Shares | (%) | Newissues | Bonusshares | Conversionfromcapitalreserve | Others | Subtotal | Shares | (%) | |
| I.Restrictedshares | 115,616,780 | 51.43 | 0 | 0 | 6,912,090 | -98,336,555 | -91,424,465 | 24,192,315 | 7.69 |
| 1.State-ownedshares | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| 2.Sharesheldbystate-ownedentities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| 3.Sharesheldbyotherdomesticinvestors | 115,616,780 | 51.43 | 0 | 0 | 6,912,090 | -98,336,555 | -91,424,465 | 24,192,315 | 7.69 |
| Includingsharesheldbydomesticnon-state-ownedcorporations | 14,128,800 | 6.28 | 0 | 0 | 0 | -14,128,800 | -14,128,800 | 0 | 0 |
| Sharesheldbydomesticnaturalpersons | 101,487,980 | 45.14 | 0 | 0 | 6,912,090 | -84,207,755 | -77,295,665 | 24,192,315 | 7.69 |
| 4.Sharesheldbyforeigninvestors | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Includingsharesheldbyforeignlegalpersons | 0 | 0 | 0 | 0 | 0 | ||||
| Sharesheldbyforeignnaturalpersons | 0 | 0 | 0 | 0 | 0 | ||||
| II.Non-restrictedshares | 109,194,460 | 48.57 | 584,290 | 0 | 82,925,936 | 97,536,089 | 181,046,315 | 290,240,775 | 92.31 |
| 1.RMB-denominatedordinaryshares | 109,194,460 | 48.57 | 584,290 | 0 | 82,925,936 | 97,536,089 | 181,046,315 | 290,240,775 | 92.31 |
| 2.Domesticallylistedforeignshares | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 3.Overseaslistedforeignshares | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 4.Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| III.Totalnumberofshares | 224,811,240 | 100 | 584,290 | 0 | 89,838,026 | -800,466 | 89,621,850 | 314,433,090 | 100 |
2.Reasonsforchangesinshares
√Applicable□N/A
/
1.OnJanuary5,2024,theCompanyissuedtheATWAnnouncementontheResultsoftheSecondVestingPeriodoftheReservedGrantofthe2021RestrictedStockIncentivePlan,theFirstVestingPeriodoftheReservedGrantofthe2022RestrictedStockPlan,andtheListingofShares(AnnouncementNo.:2024-003).Followingthisvesting,thenumberoftheCompany’stotalsharecapitalincreasedfrom224,811,240to224,892,432.
2.OnMarch15,2024,theCompanyissuedtheATWAnnouncementontheRepurchaseandCancellationofSharesandChangesinShareCapital(AnnouncementNo.:2024-024).Afterthecompletionofthisrepurchaseandcancellation,thenumberoftheCompany’stotalsharecapitaldecreasedfrom224,892,432to224,092,126.
3.OnApril3,2024,theCompanyissuedtheAnnouncementontheResultsofConvertibleBondConversionandChangesinShareCapital(AnnouncementNo.:2024-042).Aftertheconversionofconvertiblebonds,thenumberoftheCompany’stotalsharecapitalincreasedfrom224,092,126to224,092,158.
4.OnApril20,2024,theCompanyissuedtheATWAnnouncementontheResultsoftheSecondVestingPeriodoftheInitialGrantofthe2022RestrictedStockIncentivePlanandtheListingofShares(AnnouncementNo.:2024-046).Followingthisvesting,thenumberoftheCompany’stotalsharecapitalincreasedfrom224,092,158to224,595,064.
5.OnMay14,2024,theCompanyissuedtheAnnouncementontheImplementationofthe2023AnnualEquityDistribution(AnnouncementNo.:2024-054).ThenewunrestrictedtradableshareswerelistedonMay20,2024.Afterthisequitydistribution,thenumberoftheCompany’stotalsharecapitalincreasedfrom224,595,064to314,433,090.
3.Impacts(ifapplicable)ofchangesinsharesonearningspershare,netassetspershareoftheCompany,andotherfinancialindicatorsbetweentheendofthereportingperiodandthedisclosuredateoftheinterimreport
□Applicable√N/A
4.OtherinformationdisclosuredeemednecessarybytheCompanyorrequiredbysecuritiesregulatoryauthorities
□Applicable√N/A(ii)Changesinrestrictedshares
√Applicable□N/A
Unit:Share
| Nameofshareholders | Balanceofrestrictedsharesattheperiodbeginning | Restrictedsharesrelievedinreportingperiod | Increaseofrestrictedsharesinreportingperiod | Balanceofrestrictedsharesattheperiodend | Reasonsforlock-up | Dateofrelieve |
| GeZhiyong | 60,566,841 | 44,367,902 | 6,479,576 | 22,678,515 | Issuanceofsharestospecificindividualswithrestrictionsandcapitalizationofreserves | September1,2025 |
| LiWen | 39,839,853 | 39,839,853 | 0 | 0 | - | |
| WuxiAochuangInvestmentLLP | 9,461,250 | 9,461,250 | 0 | 0 | - | |
| WuxiAoliInvestmentLLP | 4,667,550 | 4,667,550 | 0 | 0 | - | |
| Targetsof | 1,081,286 | 0 | 432,514 | 1,513,800 | Equity | August29, |
/
| 2023equityincentiveplan | incentiveswithlock-uprestrictionsandcapitalizationofreserves | 2024August29,2025August29,2026 | ||||
| Total | 115,616,780 | 98,336,555 | 6,912,090 | 24,192,315 | / | / |
II.Shareholders(i)Totalnumberofshareholders
| Totalnumberofordinaryshareholdersattheperiodend | 13,479 |
| Totalnumberofpreferredshareholderswithrestoredvotingrightsattheperiodend | 0 |
| Totalnumberofshareholdersholdingshareswithspecialvotingrightsattheperiodend | 0 |
Numberofdepositaryreceiptholders
□Applicable√N/A(ii)TableofthetoptenshareholdersandtoptenshareholderswithunrestrictedsharesattheperiodendToptenshareholdersthatholdsharesthroughbothregularsecuritiesaccountsandmargintradingaccounts
√Applicable□N/A
Unit:Share
| Holdingsofthetoptenshareholders(excludingshareslentthroughsecuritiesfinancingtransactions) | ||||||||
| Nameofshareholders(fullname) | Increaseordecreaseofsharesduringthereportingperiod | Holdingattheperiodend | Shareholdingratio | Numberofrestrictedshares | Numberofshareslent | Sharespledged,markedorfrozen | Typeofshareholders | |
| Status | Number | |||||||
| GeZhiyong | 24,376,812 | 85,318,840 | 27.13 | 22,678,515 | 0 | No | 0 | Domesticnaturalpersons |
| LiWen | 15,964,921 | 55,877,225 | 17.77 | 0 | 0 | No | 0 | Domesticnaturalpersons |
| WuxiAochuangInvestmentLLP | 3,784,500 | 13,245,750 | 4.21 | 0 | 0 | No | 0 | Others |
| ZhuXionghui | 2,038,388 | 7,187,558 | 2.29 | 0 | 0 | No | 0 | Domesticnaturalpersons |
| HongKongSecuritiesClearingCompanyLimited | 2,853,927 | 6,562,705 | 2.09 | 0 | 0 | No | 0 | Others |
| WuxiAoli | 1,867,020 | 6,534,570 | 2.08 | 0 | 0 | No | 0 | Others |
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| InvestmentLLP | |||||||||
| ChinaMerchantsBankCo.,Ltd.–ForesightGrowthValueHybridSecuritiesInvestmentFund | 2,729,579 | 5,460,213 | 1.74 | 0 | 0 | No | 0 | Others | |
| ChinaConstructionBankCorporation–EFundInnovation-DrivenFlexibleAllocationHybridSecuritiesInvestmentFund | 557,188 | 3,133,025 | 1.00 | 0 | 0 | No | 0 | Others | |
| TianjinHuarenInvestmentManagementCo.,Ltd.–HuarenHuachengNo.2PrivateSecuritiesInvestmentFund | 747,481 | 2,616,183 | 0.83 | 0 | 0 | No | 0 | Others | |
| AgriculturalBankofChinaLimited–CSI500Exchange-TradedOpen-EndIndexSecuritiesInvestmentFund | 1,206,541 | 1,730,421 | 0.55 | 0 | 0 | No | 0 | Others | |
| Holdingsofthetoptenshareholderswithunrestrictedshares(excludingshareslentthroughsecuritiesfinancingtransactions) | |||||||||
| Nameofshareholders | Numberof | Typeandnumberofshares | |||||||
/
| unrestrictedsharesheld | Type | Number | |
| GeZhiyong | 62,640,325 | Renminbiordinaryshares | 62,640,325 |
| LiWen | 55,877,225 | Renminbiordinaryshares | 55,877,225 |
| WuxiAochuangInvestmentLLP | 13,245,750 | Renminbiordinaryshares | 13,245,750 |
| ZhuXionghui | 7,187,558 | Renminbiordinaryshares | 7,187,558 |
| HongKongSecuritiesClearingCompanyLimited | 6,562,705 | Renminbiordinaryshares | 6,562,705 |
| WuxiAoliInvestmentLLP | 6,534,570 | Renminbiordinaryshares | 6,534,570 |
| ChinaMerchantsBankCo.,Ltd.–ForesightGrowthValueHybridSecuritiesInvestmentFund | 5,460,213 | Renminbiordinaryshares | 5,460,213 |
| ChinaConstructionBankCorporation–EFundInnovation-DrivenFlexibleAllocationHybridSecuritiesInvestmentFund | 3,133,025 | Renminbiordinaryshares | 3,133,025 |
| TianjinHuarenInvestmentManagementCo.,Ltd.–HuarenHuachengNo.2PrivateSecuritiesInvestmentFund | 2,616,183 | Renminbiordinaryshares | 2,616,183 |
| AgriculturalBankofChinaLimited–CSI500Exchange-TradedOpen-EndIndexSecuritiesInvestmentFund | 1,730,421 | Renminbiordinaryshares | 1,730,421 |
| Dedicatedaccountsforsharebuybackamongtop10shareholders | N/A | ||
| Explainifanyoftheshareholdersaboveareinvolvedinentrusting/beingentrustedwithvotingrightsorwaivingvotingrights | N/A | ||
| Relatedpartiesorpartiesactinginconcertamongtheshareholdersabove | GeZhiyongandLiWenarepartiesactinginconcert.GeZhiyongisthegeneralpartnerandexecutivemanagingpartnerofWuxiAochuangandWuxiAoli.Apartfromthese,theCompanyisunawareofanyrelatedpartyrelationshipsamongtheaforementionedshareholders,orwhethertheaforementionedshareholdersareactinginconcertasdefinedbyChina’smeasuresfortheadministrationoftheacquisitionoflistedcompanies. | ||
| Preferredshareholderswithrestoredvotingrights,andtheirshareholdingvolume | N/A | ||
Securitieslendingthroughsecuritiesfinancingtransactionsbyshareholdersholding5%ormore,top10shareholders,andtop10shareholdersoftradableshares
□Applicable√N/AChangesinthetop10shareholdersandtop10shareholdersoftradablesharescomparedwiththepreviousperiodduetosecuritieslendingthroughfinancingtransactionsorreturnoflentsecurities
□Applicable√N/ATop10shareholderswithrestrictedshares,thenumberofsharesheld,andlock-upconditions
√Applicable□N/A
Unit:Share
| No. | Nameofshareholderswithrestrictedshares | Numberofrestrictedshares | Tradingstatusofrestrictedshares | Lock-upconditions | |
| Tradingeligibilitydate | Numberofshareseligiblefortrading | ||||
/
| 1 | GeZhiyong | 22,678,515 | September1,2025 | 0 | 36monthsfromthecompletionoftheprivateplacement |
| Relatedpartiesorpartiesactinginconcert | GeZhiyongandLiWenarepartiesactinginconcert.GeZhiyongisthegeneralpartnerandexecutivemanagingpartnerofWuxiAochuangandWuxiAoli. | ||||
Tableofthetoptendomesticdepositoryreceiptholdersattheperiodend
□Applicable√N/ASecuritieslendingthroughsecuritiesfinancingtransactionsbyholdersof5%ormoredepositoryreceipts,top10depositoryreceiptholders,andtop10holdersoftradabledepositoryreceipts
□Applicable√N/AChangesinthetop10holdersofdepositoryreceiptsandtop10holdersoftradabledepositoryreceiptscomparedwiththepreviousperiodduetosecuritieslendingorreturnthroughsecuritiesfinancingtransactions
□Applicable√N/ATop10holderswithrestricteddepositoryreceipts,thenumberofdepositoryreceiptsheld,andlock-upconditions
□Applicable√N/A(iii)Toptenshareholdersbyvotingrightsattheperiodend
□Applicable√N/A(iv)Strategicinvestorsorgenerallegalentitiesbecomingtoptenshareholdersduetonewshares/depositoryreceipts
□Applicable√N/AIII.BoardofDirectors,Supervisors,SeniorManagementandCoreTechnicalPersonnel(i)Changesinshareholdingofcurrentandformerdirectors,supervisors,seniormanagement,andcoretechnicalpersonnelduringthereportingperiod
√Applicable□N/A
Unit:Share
| Name | Position | Sharesheldattheperiodbeginning | Sharesheldattheperiodend | Changesinnumberofsharesduringtheperiod | Reasonsforthechange |
| GeZhiyong | Chairmanandgeneralmanager | 60,942,028 | 85,318,840 | 24,376,812 | Capitalizedcapitalreserves |
| LiWen | Directoranddeputygeneralmanager | 39,912,304 | 55,877,225 | 15,964,921 | Capitalizedcapitalreserves |
| YinZhe | Directorandfinancialdirector | 17,219 | 37,352 | 20,133 | Capitalizedcapitalreserves/vestingofTypeIIrestrictedshares |
| ZhouYongxiu | DirectorandSecretaryoftheBoardofDirectors | 25,194 | 48,517 | 23,323 | Capitalizedcapitalreserves/vestingofTypeIIrestrictedshares |
| LiuShiting | Director | 10,911 | 19,691 | 8,780 | Capitalizedcapitalreserves/vestingofTypeIIrestrictedshares |
/
| JiaYinghua | Director | 0 | 0 | 0 | N/A |
| SunXinwei | Independentdirector | 0 | 0 | 0 | N/A |
| BoYuming | Independentdirector | 0 | 0 | 0 | N/A |
| YangJianhong | Independentdirector | 0 | 0 | 0 | N/A |
| LiuHantang | Deputygeneralmanager | 17,219 | 37,352 | 20,133 | Capitalizedcapitalreserves/vestingofTypeIIrestrictedshares |
| ChenXia | ChairmanofBoardofSupervisors | 0 | 0 | 0 | N/A |
| LvJie | Supervisor | 0 | 0 | 0 | N/A |
| XuZhongqiu | Supervisor | 0 | 0 | 0 | N/A |
| JiBinbin | Coretechnicalpersonnel | 11,201 | 20,097 | 8,896 | Capitalizedcapitalreserves/vestingofTypeIIrestrictedshares |
| LiuWei | Coretechnicalpersonnel | 6,497 | 10,065 | 3,568 | Capitalizedcapitalreserves/vestingofTypeIIrestrictedshares/secondarymarkettrading |
| MaHongwei | Coretechnicalpersonnel | 6,207 | 9,939 | 3,732 | Capitalizedcapitalreserves/vestingofTypeIIrestrictedshares/secondarymarkettrading |
| ZhuYouwei | Coretechnicalpersonnel | 6,207 | 11,339 | 5,132 | Capitalizedcapitalreserves/vestingofTypeIIrestrictedshares |
| JiangXuan | Coretechnicalpersonnel | 1,160 | 5,717 | 4,557 | Capitalizedcapitalreserves/vestingofTypeIIrestrictedshares/secondarymarkettrading |
| XieZhijun | Coretechnicalpersonnel | 3,342 | 2,030 | -1,312 | Capitalizedcapitalreserves/vestingofTypeIIrestrictedshares/secondarymarkettrading |
| TangZhaoji | Coretechnicalpersonnel | 5797 | 9,505 | 3,708 | Capitalizedcapitalreserves/vestingofTypeIIrestrictedshares/secondarymarkettrading |
| YinQinghui | Coretechnicalpersonnel | 10,476 | 19,082 | 8,606 | Capitalizedcapitalreserves/vestingofTypeIIrestrictedshares |
| WangMei | Coretechnicalpersonnel | 6,371 | 11,392 | 5,021 | Capitalizedcapitalreserves/vestingofTypeIIrestrictedshares |
| JiangWeiguang | Coretechnicalpersonnel | 6,371 | 11,392 | 5,021 | Capitalizedcapitalreserves/vestingofTypeIIrestrictedshares |
| JiangXiaolong | Coretechnicalpersonnel | 5,108 | 8,814 | 3,706 | Capitalizedcapitalreserves/vestingofTypeIIrestrictedshares/secondarymarkettrading |
Otherdisclosures?Applicable√N/A
/
(ii)Equityincentivesgrantedtodirectors,supervisors,seniormanagement,andcoretechnicalpersonnelduringthereportingperiod
1.Stockoptions?Applicable√N/A
2.TypeIrestrictedshares?Applicable√N/A
3.TypeIIrestrictedshares?Applicable√N/A(iii)Otherremarks?Applicable√N/AIV.ChangesofControllingShareholdersorActualControllers?Applicable√N/AV.ImplementationandChangesinDepositaryReceiptArrangementsDuringtheReportingPeriod?Applicable√N/AVI.ShareswithSpecialVotingRights?Applicable√N/A
/
SectionVIIIPreferredShares?Applicable√N/A
/
SectionIXBondsI.CorporateBonds(IncludingEnterpriseBonds)andNon-financialCorporateDebtFinancingInstruments?Applicable√N/AII.ConvertibleBonds
√Applicable?N/A(i)IssuanceofconvertiblebondsOnJuly22,2023,theCompanyreleasedanannouncementtorequestapprovalfromtheCSRCfortheissuanceofconvertiblebondstounspecificinvestors,andthenreceivedtheapprovalfromtheCSRC,whichwasdisclosedinanotherannouncement–CSRCApprovalNo.[2023]1523.OnAugust10,2023,theCompanyreleasedtheIndicativeAnnouncementontheIssuanceofConvertibleBondstoUnspecificInvestorsbyWuxiAutowellTechnologyCo.,Ltd.OnAugust10,2023,theCompanyissued11.4millionconvertiblebondstounspecificinvestors,withanominalvalueofRMB100perbondandtotalingRMB1.14billion.Aftertheapprovalwasgrantedintheself-disciplinarydecisiondocumentfromtheSSE[2023]No.196,theCompany’sconvertiblebonds,totalingRMB1.14billionwerelistedfortradingontheSSEstartingSeptember1,2023,underthebondname“AutowellConvertibleBond”andbondcode“118042”.(ii)Holdersandguarantorsofconvertiblebondsduringthereportingperiod
| Nameofconvertiblebonds | AutowellConvertibleBond | |
| NumberofCBholdersattheperiodend | 8,972 | |
| GuarantorsofCBs | N/A | |
| Significantchangesintheguarantor'sprofitability,assets,andcreditconditions | N/A | |
| ToptenCBholders | ||
| CBholders | Bondsheldattheperiodend（Yuan） | Ratio(%) |
| GeZhiyong | 161,473,000 | 14.16 |
| LiWen | 112,223,000 | 9.84 |
| NorthwestInvestmentManagement(HK)Limited–NorthwestFeilongFundLimited | 54,912,000 | 4.82 |
| WuxiAochuangInvestmentLLP | 48,278,000 | 4.24 |
| ChinaMinshengBankCo.,Ltd.–EssenceStableGrowthFlexibleAllocationHybridSecuritiesInvestmentFund | 40,202,000 | 3.53 |
| UBSAG | 36,776,000 | 3.23 |
| DKMSFPI(Cayman)Ltd.–QFII | 34,821,000 | 3.05 |
| ChinaConstructionBankCorporation–EFundDoubleBondEnhancedBondSecuritiesInvestmentFund | 33,244,000 | 2.92 |
| AgriculturalBankofChinaLimited–PenghuaConvertibleBondSecuritiesInvestmentFund | 31,205,000 | 2.74 |
| HuanengGuichengTrustCo.,Ltd.–HuanengTrustXiyuanYuexiangNo.1CollectiveInvestmentTrustPlan | 25,999,000 | 2.28 |
(iii)Changesinconvertiblebondsduringthereportingperiod
Unit:Yuan,Currency:RMB
| NameofCBs | Beforethechange | Changes | Afterthechange | ||
| Conversion | Redemption | Repurchase | |||
| AutowellConvertibleBond | 1,140,000,000 | 24,000 | 0 | 0 | 1,139,976,000 |
/
(iv)CumulativeconversionofCBsduringthereportingperiod
| NamesofCBs | AutowellConvertibleBond |
| Valueofbondsconvertedduringthereportingperiod(RMB) | 24,000 |
| Numberofsharesconvertedduringthereportingperiod | 269 |
| Cumulativenumberofsharesconverted | 269 |
| Cumulativeconversionasapercentageofthetotalnumberofsharesissuedbeforetheconversion(%) | 0.000085% |
| Unconvertedamount(RMB) | 1,139,976,000 |
| UnconvertedCBsasapercentageoftotalissuance(%) | 99.997895 |
(v)Adjustmentsinconversionprices
Unit:Yuan,Currency:RMB
| NamesofCBs | AutowellConvertibleBond | ||||
| Date | Adjustedconversionprice | Disclosuredate | Disclosuremedia | Explanation | |
| November2,2023 | 180.74 | November2,2023 | http://www.sse.com.cn | OnOctober31,2023,theCompanycompletedtheregistrationofsharesforthesecondvestingperiodoftheinitialgrantunderthe2021RestrictedStockIncentivePlanandthefirstvestingperiodofthesecondreservedgrant.ThisledtoanincreaseintheCompany’stotalsharecapitalfrom154,827,261to155,045,493.StartingfromNovember2,2023,theconversionpricewasadjustedfromRMB180.90persharetoRMB180.74pershare. | |
| November17,2023 | 124.65 | November17,2023 | http://www.sse.com.cn | TheCompany’splanforconvertingcapitalreserveintosharesinthefirsthalfof2023isasfollows.Basedonthetotalsharecapitalrecordedontheequitydistributionregistrationdateandexcludingsharesheldintherepurchasespecialaccount,theCompanyplanstoincreaseitscapitalby4.5sharesforevery10sharesheldbyallshareholders.TheequityregistrationdateforthedistributionisNovember16,2023,andtheex-rightsandex-dividenddateisNovember17,2023.Duetothiscapitalincreaseinvolvingdifferentiatedallotment,theproportionofchangeincirculatingsharesiscalculatedas0.44997afteradjustingforthetotalsharecapitaldilution.StartingfromNovember17,2023,theconversionpricewasadjustedfromRMB180.74persharetoRMB124.65pershare. | |
| January9,2024 | 124.62 | January9,2024 | http://www.sse.com.cn | AstheCompanycompletedtheregistrationofsharesforthesecondvestingperiodofthefirstreserved | |
/
| grantandthefirstvestingperiodofthereservedgrantunderthe2022RestrictedStockPlanonJanuary4,2024,theCompany’ssharecapitalincreasedfrom224,811,240sharesto224,892,432shares.StartingfromJanuary9,2024,theconversionpricewasadjustedfromRMB124.65persharetoRMB124.62pershare. | ||||
| March19,2024 | 124.75 | March16,2024 | http://www.sse.com.cn | TheCompanychangedtheusageofthe800,466sharesheldintherepurchasespecialaccountandcanceledthem.Afterthiscancellationwascompleted,theCompany’stotalsharecapitaldecreasedfrom224,892,592sharesto224,092,126shares.StartingfromMarch19,2024,theconversionpricewasadjustedfromRMB124.62persharetoRMB124.75pershare. |
| May20,2024 | 87.56 | May14,2024 | http://www.sse.com.cn | AstheCompanycompletedtheregistrationofsharesforthesecondvestingperiodoftheinitialgrantunderthe2022RestrictedStockIncentivePlanonApril18,2024,theCompany’stotalsharecapitalincreasedfrom224,092,158sharesto224,595,064shares.InlightoftheCompany’simplementationofthe2023annualequitydistributionplan,theCompanycapitalizeditscapitalreservesbasedonthetotalsharecapitalrecordedontheequitydistributionrecorddate.StartingfromMay20,2024,theconversionpricewasadjustedfromRMB124.75persharetoRMB87.56pershare. |
| Latestconversionpriceasofthereportingperiod | 87.56 | |||
(vi)TheCompany’sdebts,creditchanges,andcasharrangementsforfuturedebtrepayment
1.DebtsAsoftheendofthereportingperiod,theCompany’stotalassetwasRMB14,947.29million,totalliabilitywasRMB10,781.85million,andthedebt-to-assetratiowas72.13%.
2.ChangesincreditBasedonacomprehensiveanalysisandassessmentoftheCompany’soperatingconditionsandrelatedindustrialperformance,CSCIPengyuanCreditRatingLimitedissuedthe2024RatingTrackingReportfor2023WuxiAutowellTechnologyCo.,Ltd.ConvertibleBond(RatingTrackingReportNo.[2024]TrackingNo.[390]01)onJune24,2024.Theratingresultsareasfollows.TheCompany’screditratingwasAA-,withastableoutlook.TheratingfortheAutowellConvertibleBondswasalsoAA-.Therewasnochangeintheratingresultscomparedwiththepreviousassessment.
3.Casharrangementsforfuturedebtrepayment
Inthefuture,thefundsforrepayingtheprincipalandinterestoftheseconvertiblebondswillmainlycomefromthecashflowsgeneratedbytheCompany’soperatingactivities.Currently,thecompanyisoperatingnormallywitharelativelyreasonableassetstructure,andfaceslowfinancialpressureoverallwithnorepaymentrisk.
/
(vii)OtherdisclosurefortheconvertiblebondsOnMay28,2024,theCompanyreleasedtheAnnouncementofWuxiAutowellTechnologyCo.,Ltd.RegardingNotLoweringtheConversionPriceofAutowellConvertibleBonds.AsofMay27,2024,theCompany’sstockpricehadtriggeredthedownwardadjustmentclausefortheconversionpriceofthe“AutowellConvertibleBonds”.AfterdeliberationbytheCompany’sthirdBoardofDirectorsatits53rdmeeting,theboarddecidednottolowertheconversionpriceofthe“AutowellConvertibleBonds”atthistime.Additionally,withinthenextsixmonths(fromthedateofthisannouncementuntilNovember27,2024),iftheconditionsforadownwardadjustmentoftheconversionpricearemetagain,noadjustmentproposalwillbemade.
/
SectionXFinancialReport
I.AuditReport?Applicable√N/AII.FinancialStatements
ConsolidatedBalanceSheet
June30,2024Preparedby无锡奥特维科技股份有限公司
Unit:Yuan,Currency:RMB
| Item | Note | June30,2024 | December31,2023 |
| Currentassets: | |||
| Cashandcashequivalents | VII.1 | 1,986,152,007.20 | 1,831,908,759.02 |
| Settlementprovisions | |||
| Placementswithbanksandotherfinancialinstitutions | |||
| Tradingfinancialassets | VII.2 | 220,055,388.89 | 1,013,130,849.65 |
| Derivativefinancialassets | |||
| Notesreceivable | |||
| Accountsreceivable | VII.5 | 2,197,025,477.43 | 1,591,755,715.37 |
| Accountsreceivablefinancing | VII.7 | 593,758,687.62 | 1,399,734,854.14 |
| Advancestosuppliers | VII.8 | 168,103,926.36 | 148,511,350.80 |
| Premiumreceivable | |||
| Reinsurancereceivable | |||
| Reservesreceivableunderreinsurancecontracts | |||
| Otherreceivables | VII.9 | 49,474,649.42 | 66,611,598.53 |
| Ofwhich:Interestreceivable | |||
| Dividendsreceivable | |||
| Financialassetsunderresaleagreements | |||
| Inventories | VII.10 | 7,340,248,121.92 | 7,629,583,282.50 |
| Ofwhich:Dataresources | |||
| Contractassets | |||
| Assetsheldforsale | |||
| Non-currentassetsduewithinoneyear | |||
| Othercurrentassets | VII.13 | 118,975,380.81 | 78,299,342.53 |
| Totalcurrentassets | 12,673,793,639.65 | 13,759,535,752.54 | |
| Non-currentassets: | |||
| Issuingofloansandadvances | |||
| Debtinvestments | |||
| Otherdebtinvestments | |||
| Long-termreceivables | |||
| Long-termequityinvestments | VII.17 | 3,336,396.44 | 3,340,670.41 |
| Otherequityinvestments | |||
| Othernon-currentfinancialassets | VII.19 | 161,131,813.17 | 185,271,024.08 |
| Investmentproperty | |||
/
| Fixedassets | VII.21 | 915,271,218.04 | 942,742,926.56 |
| Constructioninprogress | VII.22 | 593,113,483.75 | 152,486,136.51 |
| Productivebiologicalassets | |||
| Oilandgasassets | |||
| Right-of-useassets | VII.25 | 98,971,710.54 | 111,527,510.58 |
| Intangibleassets | VII.26 | 179,488,910.12 | 183,348,881.80 |
| Ofwhich:Dataresources | |||
| Developmentexpenditure | |||
| Ofwhich:Dataresources | |||
| Goodwill | VII.27 | 63,617,712.01 | 63,617,712.01 |
| Long-termdeferredexpenses | VII.28 | 70,240,619.89 | 65,333,228.01 |
| Deferredincometaxassets | VII.29 | 137,826,831.79 | 109,367,225.11 |
| Othernon-currentassets | VII.30 | 50,495,893.14 | 40,915,377.17 |
| Totalnon-currentassets | 2,273,494,588.89 | 1,857,950,692.24 | |
| Totalassets | 14,947,288,228.54 | 15,617,486,444.78 | |
| Currentliabilities: | |||
| Short-termborrowings | VII.32 | 664,740,197.66 | 519,737,547.82 |
| Borrowingsfromthecentralbank | |||
| Placementsfrombanksandotherfinancialinstitutions | |||
| Tradingfinancialliabilities | |||
| Derivativefinancialliabilities | |||
| Notespayable | VII.35 | 1,636,788,317.21 | 2,333,742,472.90 |
| Accountspayable | VII.36 | 3,235,214,998.79 | 3,243,847,123.75 |
| Advancesfromcustomers | |||
| Contractliabilities | VII.38 | 3,261,471,207.28 | 3,906,972,602.22 |
| Financialassetssoldunderrepurchaseagreements | |||
| Duetocustomersandbanks | |||
| Customerbrokeragedeposits | |||
| Securitiesunderwritingbrokeragedeposits | |||
| Employeebenefitspayable | VII.39 | 140,291,789.18 | 184,008,109.90 |
| Taxespayable | VII.40 | 144,798,157.22 | 155,412,912.46 |
| Otherpayables | VII.41 | 91,318,741.58 | 116,701,241.64 |
| Ofwhich:Interestpayable | |||
| Dividendspayable | 2,300,000.00 | ||
| Feesandcommissionspayable | |||
| Reinsurancepayables | |||
| Liabilitiesheldforsale | |||
| Non-currentliabilitiesduewithinoneyear | VII.43 | 129,549,089.73 | 145,205,892.87 |
| Othercurrentliabilities | 8,569,188.87 | 4,333,632.85 | |
| Totalcurrentliabilities | 9,312,741,687.52 | 10,609,961,536.41 | |
| Non-currentliabilities: | |||
| Insurancecontractreserves | |||
| Long-termborrowings | VII.45 | 319,027,747.75 | 141,007,258.34 |
| Bondspayable | VII.46 | 998,084,628.12 | 969,066,247.00 |
| Ofwhich:Preferredshares | |||
| Perpetualbonds | |||
| Leaseliabilities | VII.47 | 47,729,397.47 | 55,020,903.15 |
/
| Long-termpayables | |||
| Long-termemployeebenefitspayable | |||
| Provisions | VII.50 | 32,355,137.07 | 20,642,029.65 |
| Deferredincome | VII.51 | 1,728,852.96 | 1,974,389.69 |
| Deferredincometaxliabilities | VII.29 | 70,179,374.41 | 75,825,231.59 |
| Othernon-currentliabilities | |||
| Totalnon-currentliabilities | 1,469,105,137.78 | 1,263,536,059.42 | |
| Totalliabilities | 10,781,846,825.30 | 11,873,497,595.83 | |
| Owners’equity(orshareholders’equity): | |||
| Paid-incapital(orsharecapital) | VII.53 | 314,433,090.00 | 224,811,240.00 |
| Otherequityinstruments | VII.54 | 155,721,138.64 | 155,724,995.61 |
| Ofwhich:Preferredshares | |||
| Perpetualbonds | |||
| Capitalreserves | VII.55 | 1,307,482,433.37 | 1,408,941,067.90 |
| Less:Treasuryshares | VII.56 | 74,571,400.00 | 143,163,605.08 |
| Othercomprehensiveincome | VII.57 | -1,442,470.28 | 401,818.53 |
| Specialreserves | VII.58 | 12,858,441.36 | 8,543,300.96 |
| Surplusreserves | VII.59 | 157,216,545.00 | 112,405,620.00 |
| Provisionsforgeneralrisks | |||
| Undistributedprofits | VII.60 | 2,172,580,158.71 | 1,896,492,333.37 |
| Totalequityattributabletoequityholdersoftheparentcompany(orshareholders’equityattributabletotheparentcompany) | 4,044,277,936.80 | 3,664,156,771.29 | |
| Non-controllinginterests | 121,163,466.44 | 79,832,077.66 | |
| Totalowners’equity(orshareholders’equity) | 4,165,441,403.24 | 3,743,988,848.95 | |
| Totalliabilitiesandowners’equity(orshareholders’equity) | 14,947,288,228.54 | 15,617,486,444.78 | |
Companyrepresentative:葛志勇Chiefaccountant:殷哲Headoftheaccountingdepartment:李锴
BalanceSheetoftheParentCompany
June30,2024Preparedby无锡奥特维科技股份有限公司
Unit:Yuan,Currency:RMB
| Item | Note | June30,2024 | December31,2023 |
| Currentassets: | |||
| Cashandcashequivalents | 1,231,141,661.71 | 985,319,543.87 | |
| Tradingfinancialassets | 220,055,388.89 | 1,001,099,444.44 | |
| Derivativefinancialassets | |||
| Notesreceivable | |||
| Accountsreceivable | XIX.1 | 1,595,643,642.63 | 1,184,707,353.14 |
| Accountsreceivablefinancing | 355,600,402.08 | 835,453,200.46 | |
| Advancestosuppliers | 55,441,374.74 | 27,245,799.70 | |
| Otherreceivables | XIX.2 | 1,503,138,972.94 | 1,169,349,500.49 |
/
| Ofwhich:Interestreceivable | |||
| Dividendsreceivable | |||
| Inventories | 3,008,607,384.30 | 3,845,809,410.02 | |
| Ofwhich:Dataresources | |||
| Contractassets | |||
| Assetsheldforsale | |||
| Non-currentassetsduewithinoneyear | |||
| Othercurrentassets | 1,269,854.05 | ||
| Totalcurrentassets | 7,970,898,681.34 | 9,048,984,252.12 | |
| Non-currentassets: | |||
| Debtinvestments | |||
| Otherdebtinvestments | |||
| Long-termreceivables | |||
| Long-termequityinvestments | XIX.3 | 590,082,131.95 | 523,401,796.42 |
| Otherequityinvestments | |||
| Othernon-currentfinancialassets | 161,131,813.17 | 185,271,024.08 | |
| Investmentproperty | |||
| Fixedassets | 807,174,727.85 | 827,915,209.08 | |
| Constructioninprogress | 587,492,228.86 | 146,864,008.79 | |
| Productivebiologicalassets | |||
| Oilandgasassets | |||
| Right-of-useassets | 51,760,450.72 | 64,564,617.48 | |
| Intangibleassets | 129,443,656.48 | 131,385,467.65 | |
| Ofwhich:Dataresources | |||
| Developmentexpenditure | |||
| Ofwhich:Dataresources | |||
| Goodwill | |||
| Long-termdeferredexpenses | 31,645,833.15 | 27,308,498.16 | |
| Deferredincometaxassets | 54,832,616.02 | 48,399,593.58 | |
| Othernon-currentassets | 25,930,014.79 | 27,438,193.77 | |
| Totalnon-currentassets | 2,439,493,472.99 | 1,982,548,409.01 | |
| Totalassets | 10,410,392,154.33 | 11,031,532,661.13 | |
| Currentliabilities: | |||
| Short-termborrowings | 378,149,483.57 | 312,851,615.95 | |
| Tradingfinancialliabilities | |||
| Derivativefinancialliabilities | |||
| Notespayable | 960,588,488.48 | 1,409,662,258.54 | |
| Accountspayable | 1,456,826,750.56 | 1,733,125,929.44 | |
| Advancesfromcustomers | |||
| Contractliabilities | 1,512,764,123.29 | 1,992,068,329.33 | |
| Employeebenefitspayable | 81,146,668.28 | 110,988,159.37 | |
| Taxespayable | 118,886,284.90 | 135,719,986.12 | |
| Otherpayables | 124,160,897.95 | 119,030,837.35 | |
| Ofwhich:Interestpayable | |||
| Dividendspayable | |||
| Liabilitiesheldforsale | |||
| Non-currentliabilitiesduewithinoneyear | 86,912,619.87 | 113,839,333.42 | |
| Othercurrentliabilities | |||
| Totalcurrentliabilities | 4,719,435,316.90 | 5,927,286,449.52 | |
| Non-currentliabilities: | |||
/
| Long-termborrowings | 319,027,747.75 | 141,007,258.34 | |
| Bondspayable | 998,084,628.12 | 969,066,247.00 | |
| Ofwhich:Preferredshares | |||
| Perpetualbonds | |||
| Leaseliabilities | 29,881,843.03 | 33,555,099.76 | |
| Long-termpayables | |||
| Long-termemployeebenefitspayable | |||
| Provisions | 22,286,981.29 | 15,405,188.20 | |
| Deferredincome | 635,840.46 | 881,377.19 | |
| Deferredincometaxliabilities | 53,387,900.75 | 61,234,880.67 | |
| Othernon-currentliabilities | |||
| Totalnon-currentliabilities | 1,423,304,941.40 | 1,221,150,051.16 | |
| Totalliabilities | 6,142,740,258.30 | 7,148,436,500.68 | |
| Owners’equity(orshareholders’equity): | |||
| Paid-incapital(orsharecapital) | 314,433,090.00 | 224,811,240.00 | |
| Otherequityinstruments | 155,721,138.64 | 155,724,995.61 | |
| Ofwhich:Preferredshares | |||
| Perpetualbonds | |||
| Capitalreserves | 1,263,854,468.61 | 1,365,266,540.25 | |
| Less:Treasuryshares | 74,571,400.00 | 143,163,605.08 | |
| Othercomprehensiveincome | |||
| Specialreserves | 8,332,298.36 | 5,835,898.59 | |
| Surplusreserves | 157,216,545.00 | 112,405,620.00 | |
| Undistributedprofits | 2,442,665,755.42 | 2,162,215,471.08 | |
| Totalowners’equity(orshareholders’equity) | 4,267,651,896.03 | 3,883,096,160.45 | |
| Totalliabilitiesandowners’equity(orshareholders’equity) | 10,410,392,154.33 | 11,031,532,661.13 | |
Companyrepresentative:葛志勇Chiefaccountant:殷哲Headoftheaccountingdepartment:李锴
ConsolidatedIncomeStatement
January–June2024
Unit:Yuan,Currency:RMB
| Item | Note | Semi-Annual2024 | Semi-Annual2023 |
| Ⅰ.Totaloperatingincome | 4,417,698,117.26 | 2,517,486,369.86 | |
| Ofwhich:Operatingincome | VII.61 | 4,417,698,117.26 | 2,517,486,369.86 |
| Interestincome | |||
| Earnedpremiums | |||
| Incomefromfeesandcommissions | |||
| Ⅱ.Totaloperatingcosts | 3,381,419,367.38 | 1,955,254,543.88 | |
| Ofwhich:Operatingcosts | VII.61 | 2,924,028,824.33 | 1,595,013,807.86 |
| Interestexpenditure | |||
| Expenditureoffeesandcommissions | |||
| Refundedpremiums | |||
| Netclaimspaid |
/
| Netprovisionforinsuranceliabilityreserves | |||
| Policyholderdividendspaid | |||
| Reinsuranceexpenses | |||
| Taxesandsurcharges | VII.62 | 30,677,330.25 | 31,036,940.01 |
| Sellingexpenses | VII.63 | 78,521,303.44 | 84,452,859.24 |
| Administrativeexpenses | VII.64 | 157,714,200.42 | 109,488,543.37 |
| R&Dexpenses | VII.65 | 178,114,245.75 | 130,002,217.29 |
| Financialexpenses | VII.66 | 12,363,463.19 | 5,260,176.11 |
| Ofwhich:Interestexpenses | 22,306,651.86 | 10,825,832.63 | |
| Interestincome | 6,806,134.18 | 3,442,183.96 | |
| Add:Otherincome | VII.67 | 97,792,783.11 | 72,288,115.01 |
| Investmentincome(lossesindicatedby“-”) | VII.68 | 4,604,756.63 | 10,261,424.43 |
| Ofwhich:Shareofprofitsofassociatesandjointventures | |||
| Gainsonderecognitionoffinancialassetsmeasuredatamortizedcost(lossesindicatedby“-”) | |||
| Foreignexchangegains(lossesindicatedby“-”) | |||
| Nethedginggains(lossesindicatedby“-”) | |||
| Gainsonfairvaluechanges(lossesindicatedby“-”) | VII.70 | -24,009,988.68 | 3,541,871.52 |
| Creditimpairmentlosses(lossesindicatedby“-”) | VII.72 | -79,917,190.37 | -19,165,340.18 |
| Assetimpairmentlosses(lossesindicatedby“-”) | VII.73 | -86,934,706.66 | -26,919,530.72 |
| Gainsondisposalofassets(lossesindicatedby“-”) | VII.71 | -154,897.44 | |
| Ⅲ.Operatingprofit(lossesindicatedby“-”) | 947,659,506.47 | 602,238,366.04 | |
| Add:Non-operatingincome | VII.74 | 795,790.15 | 795,498.02 |
| Less:Non-operatingexpenditure | VII.75 | 1,187,306.29 | 7,853,480.51 |
| Ⅳ.Totalprofit(totallossindicatedby“-”) | 947,267,990.33 | 595,180,383.55 | |
| Less:Incometaxexpenses | VII.76 | 143,679,306.72 | 80,142,101.93 |
| Ⅴ.Netprofit(netlossindicatedby“-”) | 803,588,683.61 | 515,038,281.62 | |
| (i)Classifiedbycontinuityofoperations | |||
| 1.Netprofitfromcontinuingoperations(netlossindicatedby“-”) | 803,588,683.61 | 515,038,281.62 | |
| 2.Netprofitfromdiscontinuedoperations(netlossindicatedby“-”) | |||
| (ii)Classifiedbyownership | |||
| 1.Netprofitattributabletoshareholdersoftheparentcompany(netlossindicatedby“-”) | 769,082,688.50 | 522,523,778.99 | |
| 2.Profitorlossattributabletonon-controllinginterests(netlossindicatedby“-”) | 34,505,995.11 | -7,485,497.37 | |
| Ⅵ.Othercomprehensiveincome,netoftax | |||
/
| (i)Othercomprehensiveincomeattributabletoequityholdersoftheparentcompany,netoftax | VII.57 | 1,442,470.28 | |
| 1.Othercomprehensiveincomethatcannotbereclassifiedtoprofitorloss | |||
| (1)Changesinremeasurementsofdefinedbenefitplans | |||
| (2)Othercomprehensiveincomeunderequitymethodthatcannotbereclassifiedtoprofitorloss | |||
| (3)Changesinfairvalueofotherequityinvestments | |||
| (4)Changesinfairvalueduetoowncreditrisk | |||
| 2.Othercomprehensiveincomethatwillbereclassifiedtoprofitorloss | 1,442,470.28 | ||
| (1)Othercomprehensiveincomeundertheequitymethodthatcanbereclassifiedtoprofitorloss | |||
| (2)Changesinfairvalueofotherdebtinvestments | |||
| (3)Amountsrecordedunderothercomprehensiveincomeduetoreclassificationoffinancialassets | |||
| (4)Provisionforcreditimpairmentofotherdebtinvestments | |||
| (5)Cashflowhedgereserves | |||
| (6)Foreigncurrencytranslationdifferences | 1,442,470.28 | ||
| (7)Others | |||
| (ii)Othercomprehensiveincomeattributabletonon-controllinginterests,netoftax | |||
| Ⅶ.Totalcomprehensiveincome | 805,031,153.89 | 515,038,281.62 | |
| (i)Totalcomprehensiveincomeattributabletoequityholdersoftheparentcompany | 770,525,158.79 | 522,523,778.99 | |
| (ii)Totalcomprehensiveincomeattributabletonon-controllinginterests | 34,505,995.10 | -7,485,497.37 | |
| VIII.Earningspershare: | |||
| (i)Basicearningspershare(Yuan/share) | 2.45 | 1.66 | |
| (ii)Dilutedearningspershare(Yuan/share) | 2.35 | 1.66 |
Earningspershareforthehalfyearof2023representstheamountrecalculatedonthebasisofthecompany’ssharecapitalasattheendofthecurrentperiod.Inthecurrentperiod,abusinesscombinationundercommoncontroloccurred,andthenetprofitrealizedbytheacquireebeforethecombinationwasRMB0,andthenetprofitrealizedbyitinthepreviousperiodwasRMB0.Companyrepresentative:葛志勇Chiefaccountant:殷哲Headoftheaccountingdepartment:李锴
/
IncomeStatementoftheParentCompany
January–June2024
Unit:Yuan,Currency:RMB
| Item | Note | Semi-Annual2024 | Semi-Annual2023 |
| Ⅰ.Operatingincome | XIX.4 | 3,328,114,043.88 | 2,060,728,910.40 |
| Less:Operatingcosts | XIX.4 | 2,136,182,672.72 | 1,254,386,022.42 |
| Taxesandsurcharges | 21,349,151.57 | 26,717,715.20 | |
| Sellingexpenses | 47,489,784.02 | 64,541,861.72 | |
| Administrativeexpenses | 105,562,114.85 | 83,443,196.06 | |
| R&Dexpenses | 75,172,832.83 | 64,449,609.72 | |
| Financialexpenses | -8,397,017.21 | 4,935,616.67 | |
| Ofwhich:Interestexpenses | 15,437,179.12 | 6,718,438.07 | |
| Interestincome | 24,663,324.81 | 2,431,692.32 | |
| Add:Otherincome | 62,338,112.53 | 63,815,554.10 | |
| Investmentincome(lossesindicatedby“-”) | XIX.5 | 4,285,536.94 | 6,515,476.86 |
| Ofwhich:Shareofprofitsofassociatesandjointventures | |||
| Gainsonderecognitionoffinancialassetsmeasuredatamortizedcost(lossesindicatedby“-”) | |||
| Nethedginggains(lossesindicatedby“-”) | |||
| Gainsonfairvaluechanges(lossesindicatedby“-”) | -24,009,988.68 | 3,339,129.85 | |
| Creditimpairmentlosses(lossesindicatedby“-”) | -66,046,037.65 | -14,908,995.79 | |
| Assetimpairmentlosses(lossesindicatedby“-”) | -23,362,220.03 | -3,599,671.02 | |
| Gainsondisposalofassets(lossesindicatedby“-”) | -154,897.44 | ||
| II.Operatingprofit(lossesindicatedby“-”) | 903,805,010.77 | 617,416,382.61 | |
| Add:Non-operatingincome | 458,837.20 | 541,133.40 | |
| Less:Non-operatingexpenditure | 1,144,165.09 | 7,716,498.48 | |
| III.Totalprofit(totallossindicatedby“-”) | 903,119,682.88 | 610,241,017.53 | |
| Less:Incometaxexpenses | 129,674,535.38 | 88,945,265.31 | |
| IV.Netprofit(netlossindicatedby“-”) | 773,445,147.50 | 521,295,752.22 | |
| (i)Netprofitfromcontinuingoperations(netlossindicatedby“-”) | 773,445,147.50 | 521,295,752.22 | |
| (ii)Netprofitfromdiscontinuedoperations(netlossindicatedby“-”) | |||
| V.Othercomprehensiveincome,netoftax | |||
| (i)Othercomprehensiveincomethatcannotbereclassifiedtoprofitorloss | |||
| 1.Changesinremeasurementsofdefinedbenefitplans | |||
| 2.Othercomprehensiveincomeunderequitymethodthatcannotbereclassifiedtoprofitorloss |
/
| 3.Changesinfairvalueofotherequityinvestments | |||
| 4.Changesinfairvalueduetoowncreditrisk | |||
| (ii)Othercomprehensiveincomethatwillbereclassifiedtoprofitorloss | |||
| 1.Othercomprehensiveincomeundertheequitymethodthatcanbereclassifiedtoprofitorloss | |||
| 2.Changesinfairvalueofotherdebtinvestments | |||
| 3.Amountsrecordedunderothercomprehensiveincomeduetoreclassificationoffinancialassets | |||
| 4.Provisionforcreditimpairmentofotherdebtinvestments | |||
| 5.Cashflowhedgereserves | |||
| 6.Foreigncurrencytranslationdifferences | |||
| 7.Others | |||
| Ⅵ.Totalcomprehensiveincome | 773,445,147.50 | 521,295,752.22 | |
| VII.Earningspershare: | |||
| (i)Basicearningspershare(Yuan/share) | |||
| (ii)Dilutedearningspershare(Yuan/share) |
Companyrepresentative:葛志勇Chiefaccountant:殷哲Headoftheaccountingdepartment:李锴
ConsolidatedCashFlowStatement
January–June2024
Unit:Yuan,Currency:RMB
| Item | Note | Semi-Annual2024 | Semi-Annual2023 |
| Ⅰ.Cashflowsfromoperatingactivities: | |||
| Cashreceivedfromsalesofgoodsandrenderingofservices | 3,050,053,201.78 | 2,093,832,526.85 | |
| Netincreaseincustomerdepositsanddepositsfromotherbanks | |||
| Netincreaseinborrowingsfromthecentralbank | |||
| Netincreaseinplacementsfromotherfinancialinstitutions | |||
| Cashreceivedfrompremiumsunderoriginalinsurancecontracts | |||
| Netcashreceivedfromreinsurancebusiness | |||
| Netincreaseinpolicyholderdepositsandinvestments |
/
| Cashreceivedfrominterest,fees,andcommissions | |||
| Netincreaseinplacementsfrombanksandotherfinancialinstitutions | |||
| Netincreaseinproceedsfromrepurchasetransactions | |||
| Netcashreceivedfromcustomerbrokeragedeposits | |||
| Cashreceivedfromtaxrefunds | 149,664,652.21 | 98,071,947.58 | |
| Cashreceivedfromotheroperatingactivities | VII.78 | 76,996,871.33 | 56,016,037.53 |
| Subtotalofcashinflowsfromoperatingactivities | 3,276,714,725.32 | 2,247,920,511.96 | |
| Cashpaidforpurchasinggoodsandreceivingservices | 2,134,430,902.65 | 1,090,823,951.94 | |
| Netincreaseincustomerloansandadvances | |||
| Netincreaseindepositswiththecentralbankandotherbanks | |||
| Cashpaidforclaimsunderoriginalinsurancecontracts | |||
| Netincreaseinplacementwithbanksandotherfinancialinstitutions | |||
| Cashpaidforinterest,fees,andcommissions | |||
| Cashpaidforpolicyholderdividends | |||
| Cashpaidtoandforemployees | 546,187,396.25 | 404,057,565.36 | |
| Cashpaidfortaxes | 415,227,105.10 | 322,533,186.29 | |
| Cashpaidforotheroperatingactivities | VII.78 | 190,580,419.83 | 161,609,556.26 |
| Subtotalofcashoutflowsfromoperatingactivities | 3,286,425,823.83 | 1,979,024,259.85 | |
| Netcashflowsfromoperatingactivities | -9,711,098.51 | 268,896,252.11 | |
| Ⅱ.Cashflowsfrominvestingactivities: | |||
| Cashreceivedfromthedisposalofinvestments | 2,866,000,000.00 | 4,261,900,000.00 | |
| Cashreceivedfrominvestmentincome | 16,859,229.38 | 15,233,134.23 | |
| Netcashreceivedfromdisposaloffixedassets,intangibleassets,andotherlong-termassets | 6,000.00 | 33,290.00 | |
| Netcashreceivedfromthedisposalofsubsidiariesandotheroperations | |||
| Cashreceivedfromotherinvestingactivities | VII.78 | 9,695,092.03 | |
| Subtotalofcashinflowsfrominvestingactivities | 2,882,865,229.38 | 4,286,861,516.26 | |
| Cashpaidforacquisitionandconstructionoffixedassets,intangibleassets,andother | 406,367,781.11 | 320,862,510.53 |
/
| long-termassets | |||
| Cashpaidforinvestments | 2,100,762,628.16 | 3,829,640,000.00 | |
| Netincreaseinpledgedloans | |||
| Netcashpaidforacquiringsubsidiariesandotheroperations | |||
| Cashpaidforotherinvestingactivities | |||
| Subtotalofcashoutflowsfrominvestingactivities | 2,507,130,409.27 | 4,150,502,510.53 | |
| Netcashflowsfrominvestingactivities | 375,734,820.11 | 136,359,005.73 | |
| III.Cashflowsfromfinancingactivities: | |||
| Cashreceivedfromequityinvestments | 7,983,308.00 | 27,715,382.00 | |
| Ofwhich:Cashreceivedbysubsidiariesfromequityinvestmentsbynon-controllingshareholders | 6,483,308.00 | 27,715,382.00 | |
| Cashreceivedfromborrowings | 317,976,242.40 | 119,500,000.00 | |
| Cashreceivedfromotherfinancingactivities | VII.78 | 25,375,480.36 | 26,708,085.76 |
| Subtotalofcashinflowsfromfinancingactivities | 351,335,030.76 | 173,923,467.76 | |
| Cashpaidforrepaymentofdebts | 77,220,000.00 | 191,200,000.00 | |
| Cashpaidfordividends,profitdistributions,orinterestpayments | 455,240,307.66 | 251,441,204.44 | |
| Ofwhich:Dividendsandprofitspaidbysubsidiariestonon-controllingshareholders | |||
| Cashpaidforotherfinancingactivities | VII.78 | 34,972,012.68 | 175,256,352.36 |
| Subtotalofcashoutflowsfromfinancingactivities | 567,432,320.34 | 617,897,556.80 | |
| Netcashflowsfromfinancingactivities | -216,097,289.58 | -443,974,089.04 | |
| Ⅳ.Effectsofexchangeratefluctuationoncashandcashequivalents | 10,867,322.50 | 1,134,727.34 | |
| V.Netincreaseincashandcashequivalents | 160,793,754.52 | -37,584,103.86 | |
| Add:Openingbalanceofcashandcashequivalents | 1,520,761,970.93 | 597,816,992.50 | |
| Ⅵ.Closingbalanceofcashandcashequivalents | 1,681,555,725.45 | 560,232,888.64 |
Companyrepresentative:葛志勇Chiefaccountant:殷哲Headoftheaccountingdepartment:李锴
CashFlowsStatementoftheParentCompany
January–June2024
Unit:Yuan,Currency:RMB
| Item | Note | Semi-Annual2024 | Semi-Annual2023 |
| Ⅰ.Cashflowsfromoperatingactivities: |
/
| Cashreceivedfromsalesofgoodsandrenderingofservices | 2,416,515,866.24 | 1,552,869,252.19 | |
| Cashreceivedfromtaxrefunds | 51,117,053.57 | 60,713,050.02 | |
| Cashreceivedfromotheroperatingactivities | 48,425,237.05 | 81,845,396.67 | |
| Subtotalofcashinflowsfromoperatingactivities | 2,516,058,156.86 | 1,695,427,698.88 | |
| Cashpaidforpurchasinggoodsandreceivingservices | 1,311,805,982.81 | 729,314,252.80 | |
| Cashpaidtoandforemployees | 321,889,379.17 | 254,275,210.96 | |
| Cashpaidfortaxes | 317,393,554.57 | 300,388,712.12 | |
| Cashpaidforotheroperatingactivities | 114,755,520.38 | 147,738,908.87 | |
| Subtotalofcashoutflowsfromoperatingactivities | 2,065,844,436.93 | 1,431,717,084.75 | |
| Netcashflowsfromoperatingactivities | 450,213,719.93 | 263,710,614.13 | |
| Ⅱ.Cashflowsfrominvestingactivities: | |||
| Cashreceivedfromthedisposalofinvestments | 2,700,000,000.00 | 3,838,900,001.00 | |
| Cashreceivedfrominvestmentincome | 16,412,264.76 | 14,268,687.53 | |
| Netcashreceivedfromdisposaloffixedassets,intangibleassets,andotherlong-termassets | 5,325.00 | 29,270.00 | |
| Netcashreceivedfromthedisposalofsubsidiariesandotheroperations | |||
| Cashreceivedfromotherinvestingactivities | 10,000,000.00 | 66,500,000.00 | |
| Subtotalofcashinflowsfrominvestingactivities | 2,726,417,589.76 | 3,919,697,958.53 | |
| Cashpaidforacquisitionandconstructionoffixedassets,intangibleassets,andotherlong-termassets | 401,575,285.97 | 310,956,237.17 | |
| Cashpaidforinvestments | 1,977,466,754.16 | 3,437,390,000.00 | |
| Netcashpaidforacquiringsubsidiariesandotheroperations | |||
| Cashpaidforotherinvestingactivities | 256,500,000.00 | 112,000,000.00 | |
| Subtotalofcashoutflowsfrominvestingactivities | 2,635,542,040.13 | 3,860,346,237.17 | |
| Netcashflowsfrominvestingactivities | 90,875,549.63 | 59,351,721.36 | |
| III.Cashflowsfromfinancingactivities: | |||
| Cashreceivedfromequityinvestments | |||
| Cashreceivedfromborrowings | 216,276,242.40 | 69,600,000.00 | |
| Cashreceivedfromotherfinancingactivities | 25,375,480.36 | 26,708,084.76 |
/
| Subtotalofcashinflowsfromfinancingactivities | 241,651,722.76 | 96,308,084.76 | |
| Cashpaidforrepaymentofdebts | 51,300,000.00 | 128,200,000.00 | |
| Cashpaidfordividends,profitdistributions,orinterestpayments | 452,076,647.44 | 249,626,418.57 | |
| Cashpaidforotherfinancingactivities | 21,201,753.51 | 165,062,115.56 | |
| Subtotalofcashoutflowsfromfinancingactivities | 524,578,400.95 | 542,888,534.13 | |
| Netcashflowsfromfinancingactivities | -282,926,678.19 | -446,580,449.37 | |
| Ⅳ.Effectsofexchangeratefluctuationoncashandcashequivalents | 8,817.29 | 1,085.45 | |
| V.Netincreaseincashandcashequivalents | 258,171,408.66 | -123,517,028.43 | |
| Add:Openingbalanceofcashandcashequivalents | 820,719,064.27 | 487,231,217.84 | |
| Ⅵ.Closingbalanceofcashandcashequivalents | 1,078,890,472.93 | 363,714,189.41 |
Companyrepresentative:葛志勇Chiefaccountant:殷哲Headoftheaccountingdepartment:李锴
/
ConsolidatedStatementofChangesinEquity
January–June2024
Unit:Yuan,Currency:RMB
| Item | Semi-Annual2024 | ||||||||||||||
| Equityattributabletoequityholdersoftheparentcompany | Non-controllinginterests | Totalowners’equity | |||||||||||||
| Paid-incapital(orsharecapital) | Otherequityinstruments | Capitalreserves | Less:Treasuryshares | Othercomprehensiveincome | Specialreserves | Surplusreserves | Provisionsforgeneralrisks | Undistributedprofits | Others | Subtotal | |||||
| Preferredshares | Perpetualbonds | Others | |||||||||||||
| Ⅰ.Closingbalanceofthepreviousyear | 224,811,240.00 | 155,724,995.61 | 1,408,941,067.90 | 143,163,605.08 | 401,818.53 | 8,543,300.96 | 112,405,620.00 | 1,896,492,333.37 | 3,664,156,771.29 | 79,832,077.66 | 3,743,988,848.95 | ||||
| Add:Changesinaccountingpolicies | - | - | |||||||||||||
| Correctionofpriorperioderrors | - | - | |||||||||||||
| Others | - | - | |||||||||||||
| Ⅱ.Openingbalanceofthecurrentyear | 224,811,240.00 | - | - | 155,724,995.61 | 1,408,941,067.90 | 143,163,605.08 | 401,818.53 | 8,543,300.96 | 112,405,620.00 | - | 1,896,492,333.37 | - | 3,664,156,771.29 | 79,832,077.66 | 3,743,988,848.95 |
| Ⅲ.Amountofchangesduringthecurrentperiod(decreasesindicatedby“-”) | 89,621,850.00 | - | - | -3,856.97 | -101,458,634.53 | -68,592,205.08 | -1,844,288.81 | 4,315,140.40 | 44,810,925.00 | - | 276,087,825.34 | - | 380,121,165.51 | 41,331,388.78 | 421,452,554.29 |
| (i)Total | -1,844,288.8 | 769,082,68 | 767,238,3 | 34,505,995.11 | 801,744,394.80 | ||||||||||
/
| comprehensiveincome | 1 | 8.50 | 99.69 | ||||||||||||
| (ii)Capitalcontributedorwithdrawnbyowners | 584,290.00 | - | - | -3,856.97 | 59,192,562.25 | 3,021,431.70 | - | - | - | - | - | - | 56,751,563.58 | 8,038,925.21 | 64,790,488.79 |
| 1.Ordinarysharescontributedbyowners | 584,098.00 | 28,850,511.76 | 3,021,431.70 | 26,413,178.06 | 7,983,308.00 | 34,396,486.06 | |||||||||
| 2.Capitalcontributedbyholdersofotherequityinstruments | 192.00 | -3,856.97 | 23,658.81 | 19,993.84 | 19,993.84 | ||||||||||
| 3.Share-basedpaymentsrecognizedasowners’equity | 30,318,391.68 | 30,318,391.68 | 2,733,013.34 | 33,051,405.02 | |||||||||||
| 4.Others | - | -2,677,396.13 | -2,677,396.13 | ||||||||||||
| (iii)Profitdistribution | - | - | - | - | - | - | - | - | 44,810,925.00 | - | -492,994,863.16 | - | -448,183,938.16 | -2,300,000.00 | -450,483,938.16 |
| 1.Transfertosurplusreserves | 44,810,925.00 | -44,810,925.00 | - | - | |||||||||||
| 2.Transfertogeneralriskreserves | - | - | |||||||||||||
| 3.Distributionstoowners(orshareholders) | -448,183,938.16 | -448,183,938.16 | -2,300,000.00 | -450,483,938.16 | |||||||||||
| 4.Others | - | - | |||||||||||||
| (iv)Transferswithinequity | 89,037,560.00 | - | - | - | -160,651,196.78 | -71,613,636.78 | - | - | - | - | - | - | - | - | - |
| 1.Capitalreservestransferred | 89,838,026.00 | -89,838,026.00 | - | - |
/
| tocapital(orsharecapital) | |||||||||||||||
| 2.Surplusreservestransferredtocapital(orsharecapital) | - | - | |||||||||||||
| 3.Surplusreservesusedtooffsetlosses | - | - | |||||||||||||
| 4.Remeasurementsofdefinedbenefitplanstransferredtoretainedearnings | - | - | |||||||||||||
| 5.Othercomprehensiveincometransferredtoretainedearnings | - | - | |||||||||||||
| 6.Others | -800,466.00 | -70,813,170.78 | -71,613,636.78 | - | - | ||||||||||
| (v)Specialreserves | - | - | - | - | - | - | - | 4,315,140.40 | - | - | - | - | 4,315,140.40 | 1,086,468.46 | 5,401,608.86 |
| 1.Provisioninthecurrentperiod | 6,440,251.47 | 6,440,251.47 | 1,086,468.46 | 7,526,719.93 | |||||||||||
| 2.Utilizationinthecurrentperiod | -2,125,111.07 | -2,125,111.07 | -2,125,111.07 | ||||||||||||
| (vi)Others | - | - | |||||||||||||
| Ⅳ.Currentclosingbalance | 314,433,090.00 | - | - | 155,721,138.64 | 1,307,482,433.37 | 74,571,400.00 | -1,442,470.28 | 12,858,441.36 | 157,216,545.00 | - | 2,172,580,158.71 | - | 4,044,277,936.80 | 121,163,466.44 | 4,165,441,403.24 |
/
| Item | Semi-Annual2023 | ||||||||||||||
| Equityattributabletoequityholdersoftheparentcompany | Non-controllinginterests | Totalowners’equity | |||||||||||||
| Paid-incapital(orsharecapital) | Otherequityinstruments | Capitalreserves | Less:Treasuryshares | Othercomprehensiveincome | Othercomprehensiveincome | Surplusreserves | Provisionsforgeneralrisks | Undistributedprofits | Others | Subtotal | |||||
| Preferredshares | Perpetualbonds | Others | |||||||||||||
| Ⅰ.Closingbalanceofthepreviousyear | 154,470,010.00 | 1,418,290,574.80 | 77,235,005.00 | 921,352,498.22 | 2,571,348,088.02 | 17,706,809.80 | 2,589,054,897.82 | ||||||||
| Add:Changesinaccountingpolicies | 430,386.33 | 430,386.33 | 41,926.81 | 472,313.14 | |||||||||||
| Correctionofpriorperioderrors | |||||||||||||||
| Others | |||||||||||||||
| Ⅱ.Openingbalanceofthecurrentyear | 154,470,010.00 | 1,418,290,574.80 | 77,235,005.00 | 921,782,884.55 | 2,571,778,474.35 | 17,748,736.61 | 2,589,527,210.96 | ||||||||
| Ⅲ.Amountofchangesduringthecurrentperiod(decreasesindicatedby“-”) | 357,251.00 | 62,755,950.29 | 149,845,276.54 | 4,188,034.01 | 178,625.50 | 276,401,539.73 | 194,036,123.99 | 28,541,273.94 | 222,577,397.93 | ||||||
| (i)Totalcomprehensiveincome | 522,523,778.99 | 522,523,778.99 | -7,485,497.37 | 515,038,281.62 | |||||||||||
| (ii)Capitalcontributedorwithdrawnbyowners | 357,251.00 | 62,755,950.29 | 149,845,276.54 | -86,732,075.25 | 35,596,371.36 | -51,135,703.89 | |||||||||
| 1.Ordinarysharescontributedbyowners | 357,251.00 | 26,350,833.76 | 149,845,276.54 | -123,137,191.78 | 42,198,927.80 | -80,938,263.98 | |||||||||
| 2.Capitalcontributedbyholdersofotherequityinstruments | |||||||||||||||
/
| 3.Share-basedpaymentsrecognizedasowners’equity | 28,092,917.25 | 28,092,917.25 | 1,709,641.84 | 29,802,559.09 | |||||||
| 4.Others | 8,312,199.28 | 8,312,199.28 | -8,312,198.28 | 1.00 | |||||||
| (iii)Profitdistribution | 178,625.50 | -246,122,239.26 | -245,943,613.76 | -245,943,613.76 | |||||||
| 1.Transfertosurplusreserves | 178,625.50 | -178,625.50 | |||||||||
| 2.Transfertogeneralriskreserves | |||||||||||
| 3.Distributionstoowners(orshareholders) | -245,943,613.76 | -245,943,613.76 | -245,943,613.76 | ||||||||
| 4.Others | |||||||||||
| (IV)Transferswithinequity | |||||||||||
| 1.Capitalreservestransferredtocapital(orsharecapital) | |||||||||||
| 2.Surplusreservestransferredtocapital(orsharecapital) | |||||||||||
| 3.Surplusreservesusedtooffsetlosses | |||||||||||
| 4.Remeasurementsofdefinedbenefitplanstransferredtoretainedearnings | |||||||||||
| 5.Othercomprehensiveincometransferredtoretainedearnings | |||||||||||
| 6.Others | |||||||||||
| (v)Specialreserves | 4,188,034.01 | 4,188,034.01 | 430,399.95 | 4,618,433.96 | |||||||
| 1.Provisioninthecurrent | 4,188,034.01 | 4,188,034.01 | 430,399.95 | 4,618,433.96 |
/
| period | |||||||||||||
| 2.Utilizationinthecurrentperiod | |||||||||||||
| (vi)Others | |||||||||||||
| Ⅳ.Currentclosingbalance | 154,827,261.00 | 1,481,046,525.09 | 149,845,276.54 | 4,188,034.01 | 77,413,630.50 | 1,198,184,424.28 | 2,765,814,598.34 | 46,290,010.55 | 2,812,104,608.89 |
Companyrepresentative:葛志勇Chiefaccountant:殷哲Headoftheaccountingdepartment:李锴
StatementofChangesinEquityoftheParentCompany
January–June2024
Unit:Yuan,Currency:RMB
| Item | Semi-Annual2024 | ||||||||||
| Paid-incapital(orsharecapital) | Otherequityinstruments | Capitalreserves | Less:Treasuryshares | Othercomprehensiveincome | Specialreserves | Surplusreserves | Undistributedprofits | Totalowners’equity | |||
| Preferredshares | Perpetualbonds | Others | |||||||||
| Ⅰ.Closingbalanceofthepreviousyear | 224,811,240.00 | 155,724,995.61 | 1,365,266,540.25 | 143,163,605.08 | 5,835,898.59 | 112,405,620.00 | 2,162,215,471.08 | 3,883,096,160.45 | |||
| Add:Changesinaccountingpolicies | |||||||||||
| Correctionofpriorperioderrors | |||||||||||
| Others | |||||||||||
| Ⅱ.Openingbalanceofthecurrentyear | 224,811,240.00 | 155,724,995.61 | 1,365,266,540.25 | 143,163,605.08 | 5,835,898.59 | 112,405,620.00 | 2,162,215,471.08 | 3,883,096,160.45 | |||
| Ⅲ.Amountofchangesduringthecurrentperiod(decreasesindicatedby“-”) | 89,621,850.00 | -3,856.97 | -101,412,071.64 | -68,592,205.08 | 2,496,399.77 | 44,810,925.00 | 280,450,284.34 | 384,555,735.58 | |||
| (i)Totalcomprehensiveincome | 773,445,147.50 | 773,445,147.50 | |||||||||
| (ii)Capitalcontributedorwithdrawnbyowners | 584,290.00 | -3,856.97 | 59,239,125.14 | 3,021,431.70 | 56,798,126.47 | ||||||
| 1.Ordinarysharescontributedbyowners | 584,098.00 | 28,850,511.76 | 3,021,431.70 | 26,413,178.06 | |||||||
| 2.Capitalcontributedbyholdersofotherequityinstruments | 192.00 | -3,856.97 | 23,658.81 | 19,993.84 | |||||||
| 3.Sharebasedpaymentsrecognizedasowners’equity | 30,364,954.57 | 30,364,954.57 | |||||||||
| 4.Others | |||||||||||
| (iii)Profitdistribution | 44,810,925.00 | -492,994,863.16 | -448,183,938.16 | ||||||||
| 1.Transfertosurplusreserves | 44,810,925.00 | -44,810,925.00 | |||||||||
| 2.Distributionstoowners(orshareholders) | -448,183,938.16 | -448,183,938.16 | |||||||||
/
| 3.Others | ||||||||||
| (iv)Transferswithinequity | 89,037,560.00 | -160,651,196.78 | -71,613,636.78 | |||||||
| 1.Capitalreservestransferredtocapital(orsharecapital) | 89,838,026.00 | -89,838,026.00 | ||||||||
| 2.Surplusreservestransferredtocapital(orsharecapital) | ||||||||||
| 3.Surplusreservesusedtooffsetlosses | ||||||||||
| 4.Remeasurementsofdefinedbenefitplanstransferredtoretainedearnings | ||||||||||
| 5.Othercomprehensiveincometransferredtoretainedearnings | ||||||||||
| 6.Others | -800,466.00 | -70,813,170.78 | -71,613,636.78 | |||||||
| (v)Specialreserves | 2,496,399.77 | 2,496,399.77 | ||||||||
| 1.Provisioninthecurrentperiod | 3,773,853.36 | 3,773,853.36 | ||||||||
| 2.Utilizationinthecurrentperiod | -1,277,453.59 | -1,277,453.59 | ||||||||
| (vi)Others | ||||||||||
| Ⅳ.Currentclosingbalance | 314,433,090.00 | 155,721,138.64 | 1,263,854,468.61 | 74,571,400.00 | 8,332,298.36 | 157,216,545.00 | 2,442,665,755.42 | 4,267,651,896.03 |
Item
| Item | Semi-Annual2023 | ||||||||||
| Paid-incapital(orsharecapital) | Otherequityinstruments | Capitalreserves | Less:Treasuryshares | Othercomprehensiveincome | Specialreserves | Surplusreserves | Undistributedprofits | Totalowners’equity | |||
| Preferredshares | Perpetualbonds | Others | |||||||||
| Ⅰ.Closingbalanceofthepreviousyear | 154,470,010.00 | 1,410,132,725.05 | 77,235,005.00 | 1,143,151,674.39 | 2,784,989,414.44 | ||||||
| Add:Changesinaccountingpolicies | 390,323.35 | 390,323.35 | |||||||||
| Correctionofpriorperioderrors | |||||||||||
| Others | |||||||||||
| Ⅱ.Openingbalanceofthecurrentyear | 154,470,010.00 | 1,410,132,725.05 | 77,235,005.00 | 1,143,541,997.74 | 2,785,379,737.79 | ||||||
| Ⅲ.Amountofchangesduringthecurrentperiod(decreasesindicatedby“-”) | 357,251.00 | 55,077,276.23 | 149,845,276.54 | 2,917,949.30 | 178,625.50 | 275,173,512.96 | 183,859,338.45 | ||||
| (i)Totalcomprehensiveincome | 521,295,752.22 | 521,295,752.22 | |||||||||
| (ii)Capitalcontributedorwithdrawnbyowners | 357,251.00 | 55,077,276.23 | 149,845,276.54 | -94,410,749.31 | |||||||
| 1.Ordinarysharescontributedbyowners | 357,251.00 | 26,350,833.76 | 149,845,276.54 | -123,137,191.78 | |||||||
/
| 2.Capitalcontributedbyholdersofotherequityinstruments | |||||||||
| 3.Share-basedpaymentsrecognizedasowners’equity | 28,726,442.47 | 28,726,442.47 | |||||||
| 4.Others | |||||||||
| (iii)Profitdistribution | 178,625.50 | -246,122,239.26 | -245,943,613.76 | ||||||
| 1.Transfertosurplusreserves | 178,625.50 | -178,625.50 | |||||||
| 2.Distributionstoowners(orshareholders) | -245,943,613.76 | -245,943,613.76 | |||||||
| 3.Others | |||||||||
| (iv)Transferswithinequity | |||||||||
| 1.Capitalreservestransferredtocapital(orsharecapital) | |||||||||
| 2.Surplusreservestransferredtocapital(orsharecapital) | |||||||||
| 3.Surplusreservesusedtooffsetlosses | |||||||||
| 4.Remeasurementsofdefinedbenefitplanstransferredtoretainedearnings | |||||||||
| 5.Othercomprehensiveincometransferredtoretainedearnings | |||||||||
| 6.Others | |||||||||
| (v)Specialreserves | 2,917,949.30 | 2,917,949.30 | |||||||
| 1.Provisioninthecurrentperiod | 2,917,949.30 | 2,917,949.30 | |||||||
| 2.Utilizationinthecurrentperiod | |||||||||
| (vi)Others | |||||||||
| Ⅳ.Currentclosingbalance | 154,827,261.00 | 1,465,210,001.28 | 149,845,276.54 | 2,917,949.30 | 77,413,630.50 | 1,418,715,510.70 | 2,969,239,076.24 |
Companyrepresentative:葛志勇Chiefaccountant:殷哲Headoftheaccountingdepartment:李锴
/
III.BasicCorporateInformation
1.Companyprofile
√Applicable?N/A
WuxiAutowellTechnologyCo.,Ltd.(hereinafterreferredtoas“theCompany”orthe“ParentCompany,”orthe“Company”)wasestablishedonFebruary1,2010.ThelegalrepresentativeoftheCompanyisGeZhiyongTheregisteredaddressoftheCompanyisNo.3XinhuaRoad,NewDistrict,Wuxi.TheCompany’sshareswerelistedandtradedonMay21,2020ontheSTARMarket.TheCompanynowholdsabusinesslicensewithunifiedsocialcreditcode913202005502754040,andasofJune30,2024,theCompanyhasaregisteredcapitalofRMB314,433,090withatotalnumberof314,433,090shares(parvalueRMB1pershare).Amongthem,24,192,315areoutstandingsharesrestricted,while290,240,775areunrestricted.TheoperatingperiodoftheCompany:FromFebruary1,2010toanindefiniteperiodThebusinessscopeoftheCompany:R&D,manufacturing,sales,andtechnicalservicesofindustrialautomaticcontrolsystems,specialequipmentfortheelectronicsindustry,photovoltaicequipmentandcomponents;processing,manufacturing,andsalesofmechanicalparts;salesofgeneralmachineryandaccessories;softwaredevelopment;importandexportofvariouscommoditiesandtechnologies(exceptforthosethatarerestrictedorprohibitedbythegovernment)asprincipaloragent,subjecttoapprovalbycompetentauthoritiesforitemsrequiringspecificauthorization.Licenseditems:
powergeneration,transmission,anddistributionservices,subjecttoapprovalbycompetentauthoritiesforitemsrequiringspecificauthorization.Generalitems:technologicalservicesforsolarpowergeneration(Exceptforitemsrequiringgovernmentapproval,thebusinessentitymayoperatetheactivitieslistedonthebusinesslicenseatitsdiscretion.)
TheactualcontrollersoftheCompanyareGeZhiyongandLiWen.ThefinancialstatementshavebeenauthorizedforissuancebytheBoardofDirectorsonAugust22,2024.VI.BasisofPreparationoftheFinancialStatements
1.BasisofpreparationThefinancialstatementsarepreparedonthebasisofgoingconcern.
2.Goingconcern
√Applicable□N/A
TheCompanyhasadequatelyevaluateditsabilitytocontinueasagoingconcernforthe12monthsfromtheendofthereportingperiod,andtheevaluationresultsindicatethattherearenomattersthatcastsignificantdoubtonitsabilitytocontinueasagoingconcern.V.SignificantAccountingPoliciesandAccountingEstimatesNotesonspecificaccountingpoliciesandaccountingestimates:
√Applicable□N/A
/
TheCompanydeterminesaccountingpoliciesandaccountingestimatesappropriateforitsbusinesses,includingpoliciesforaccountsreceivable,accountsreceivablefinancing,valuationofinventories,depreciationoffixedassets,amortizationofintangibleassets,depreciationofright-of-useassets,thetimingofrevenuerecognition,andshare-basedpayments;aswellasaccountingestimatesforimpairmentofinventoriesandbaddebtprovisionsforreceivables.
ThefollowingdisclosurescoverspecificaccountingpoliciesandaccountingestimatesformulatedbytheCompanyinaccordancewiththeactualproductionandoperatingcharacteristics.
1.DeclarationofcompliancewiththeAccountingStandardsforBusinessEnterprises
ThefinancialstatementspreparedbytheCompanycomplywiththerequirementsoftheAccountingStandardsforBusinessEnterprisesandpresenttrueandcompleteinformationonthefinancialpositions,operatingresults,changesinequity,andcashflowsoftheCompany.
2.AccountingperiodTheCompanyadoptsthecalendaryearfromJanuary1toDecember31asitsaccountingyear.
3.Operatingcycle
√Applicable□N/ATheCompany’soperatingcycleis12months.
4.Functionalcurrency
TheCompanyadoptsRMBasitsfunctionalcurrency.TheCompany’ssubsidiariesdeterminetheirfunctionalcurrenciesbasedontheprimaryeconomicenvironmentinwhichtheyoperate,withAutowellJapanCo.,Ltd.’sfunctionalcurrencybeingtheJapaneseyen,Autowell(Singapore)PteLtd.’sfunctionalcurrencybeingtheU.S.dollar,andAutowell(Malaysia)SdnBhd’sfunctionalcurrencybeingtheringgit.ThefinancialstatementsarepresentedinRMB.
5.Methodandbasisfordeterminingthematerialitycriteria
√Applicable□N/A
| Item | Materialitycriteria |
| Materialreceivablesthatrequireprovisionforbaddebtonanindividualbasis | Itemsrepresentingmorethan0.03%oftheoriginalvalueofaccountsreceivableattheendoftheperiod |
| Materialconstructioninprogress | Itemsrepresentingmorethan1%oftheoriginalvalueoffixedassetsattheendoftheperiod |
| Materialreceivableswithanageofmorethanoneyearoroverdue | Itemsrepresentingmorethan0.1%oftheoriginalvalueoftotalassetsattheendoftheperiod |
6.Accountingtreatmentmethodforthecombinationofbusinessesunderornotunderthesamecontrol
√Applicable□N/A
Combinationofbusinessesunderthesamecontrol：Theassetsandliabilitiesacquiredbytheacquirer,includinggoodwillresultingfromtheacquisitionoftheacquireebytheultimatecontroller,aremeasuredonthebasisofthecarryingvaluesasrecordedintheultimatecontroller’consolidatedfinancialstatementsfortheacquiree’sassetsandliabilitiesonthedateofthecombination.Thedifferencebetweenthecarryingvalueofthenetassetsacquiredinthecombinationandthecarryingvalueoftheconsiderationpaidforthecombination(orthetotalfacevalueofthesharesissued)isadjustedtoequitypremiumincapitalreserves,andtheretainedearningsisadjustedtotheextentthattheequitypremiuminthecapitalsurplusisnotsufficienttoeliminatethedifference.
Combinationofbusinessesnotunderthesamecontrol：Thecostsofcombinationrefertothefairvalueoftheassetssurrendered,theliabilitiesincurredorassumed,andtheequitysecuritiesissuedbytheacquirerontheacquisitiondateforgainingcontrolovertheacquiree.Thedifferencebetweenthehigher
/
combinationcostsandtheshareoffairvalueoftheidentifiablenetassetsoftheacquireeisrecognizedasgoodwill.Ifthecombinationcostsarelessthantheshareofthefairvalueoftheacquiree’sidentifiablenetassetsobtainedfromthecombination,thedifferenceisincludedinthecurrentprofitorloss.Eachoftheidentifiableassets,liabilities,andcontingentliabilitiesoftheacquireeacquiredinthecombinationthatmeetstheconditionsforrecognitionismeasuredatfairvalueatthedateofacquisition.
Costsincurreddirectlyduetothecombinationarerecordedintocurrentprofitorlossatthetimeofoccurrence.Thetransactioncostsincurredforissuingequitysecuritiesordebtsecuritiesforthecombinationareincludedintheinitialamountrecognizedfortheequitysecuritiesordebtsecurities.
7.Criteriafordeterminingcontrolandmethodsforpreparingconsolidatedfinancialstatements
√Applicable□N/A
1.Criteriafordeterminingcontrol
TheCompanyandallitssubsidiariesareincludedintheconsolidatedfinancialstatementsbasedoncontrol.ControlreferstothecaseswheretheCompanyhaspowerovertheinvestee,hasrightstovariablereturnsfromparticipatingintherelevantactivitiesoftheinvestee,andcanusethepowerovertheinvesteetoinfluenceitsreturnamount.
2.Proceduresofconsolidation
TheCompanyregardstheentiregroupofbusinessesasoneaccountingentityandpreparesconsolidatedfinancialstatementsinaccordancewithunifiedaccountingpoliciestoreflectthefinancialposition,resultsofoperations,andcashflowsofthebusinessgroup.Theeffectsofintra-grouptransactionsbetweentheCompanyanditssubsidiaries,aswellasamongsubsidiaries,areeliminated.Whereanintra-grouptransactionindicatesanimpairmentlossofrelevantassets,thefullamountofsuchlossisrecognized.IftheaccountingpoliciesoraccountingperiodsadoptedbysubsidiariesareinconsistentwiththoseoftheCompany,necessaryadjustmentsaremadetoalignwiththeCompany’saccountingpoliciesandaccountingperiodswhenpreparingtheconsolidatedfinancialstatements.
Theportionofequity,netprofitorloss,andtotalcomprehensiveincomeattributabletonon-controllingshareholdersisseparatelypresentedundertheowners’equitysectionintheconsolidatedbalancesheetandunderthenetprofititemandtotalcomprehensiveincomeitemintheconsolidatedincomestatement.Iftheshareoflossesattributabletonon-controllingshareholdersinasubsidiaryinthecurrentperiodexceedsthenon-controllinginterestintheshareholders’equityofthesubsidiaryatthebeginningoftheperiod,theexcessischargedagainstnon-controllingshareholders’equity.
(1)Additionofsubsidiariesorbusinesses
Inthereportingperiod,ifasubsidiaryorbusinessisaddedduetoabusinesscombinationundercommoncontrol,theoperatingresultsandcashflowsofthesubsidiaryorbusinessfromthebeginningoftheperiodtotheendofthereportingperiodareincludedintheconsolidatedfinancialstatements.Additionally,theopeningbalancesandcomparativefiguresintheconsolidatedfinancialstatementsareadjustedtoreflecttheassumptionthatthereportingentity,asacombinedentity,hasbeenpartofthe
/
consolidatedgroupsincethedatewhentheultimatecontrollingpartybegantoexercisecontrol.Ifcontroloveraninvesteeundercommoncontrolisobtainedduetoadditionalinvestmentorotherreasons,anygainsorlosses,othercomprehensiveincome,andotherchangesinnetassetsrecognizedinrelationtotheequityinvestmentheldpriortogainingcontrol,fromthelaterofthedatetheoriginalequitywasacquiredorthedatetheacquirerandtheacquireewereundercommoncontroluntilthedateofthecombination,arereversedandadjustedagainsttheopeningretainedearningsorcurrentprofitorlossinthecomparativeperiodoftheconsolidatedfinancialstatements.Duringthereportingperiod,theadditionofsubsidiariesorbusinessesasaresultofanon-commoncontrolbusinesscombinationisincludedintheconsolidatedfinancialstatementsfromthedateofpurchaseonthebasisofthefairvalueofeachidentifiableasset,liability,andcontingentliabilitydeterminedatthedateofpurchase.Ifcontroloveraninvesteenotundercommoncontrolisobtainedduetoadditionalinvestmentorforotherreasons,theequityinterestheldintheacquireepriortotheacquisitiondateisremeasuredatitsfairvalueontheacquisitiondate.Thedifferencebetweenthefairvalueandthecarryingvalueisrecognizedinthecurrentperiod’sinvestmentincome.Anyothercomprehensiveincomeandotherchangesinequitythatwererecognizedinrelationtotheequityinterestheldpriortotheacquisitiondate,whichmaybereclassifiedtoprofitorlossinfutureperiods,arereclassifiedtoinvestmentincomeinthecurrentperiodasoftheacquisitiondate.
(2)Disposalofsubsidiaries
①GeneraltreatmentWhencontroloveraninvesteeislostasaresultofthedisposalofaportionoftheequityinvestmentorforotherreasons,theremainingequityinterestafterdisposalisremeasuredatitsfairvalueonthedateoflossofcontrol.Thedifferencebetweenthesumoftheconsiderationreceivedfromthedisposalandthefairvalueoftheremainingequityinterest,lesstheshareofthenetassetsoftheoriginalsubsidiaryattributabletotheproportionofequitypreviouslyheld(includinggoodwill)fromtheacquisitiondateorcombinationdate,isrecognizedasinvestmentincomeintheperiodwhencontrolislost.Anyothercomprehensiveincomeandchangesinequityrecognizedundertheequitymethodthatarerelatedtotheoriginalsubsidiary’sequityinvestmentandcanbereclassifiedintoprofitorlossinfutureperiodsarereclassifiedintocurrentperiodinvestmentincomeatthetimeoflossofcontrol.
②Stepwisedisposalofsubsidiaries
Whenasubsidiary’sequityinvestmentisdisposedofinstagesthroughmultipletransactionsuntilcontrolislost,iftheterms,conditions,andeconomicimpactofeachtransactionmeetoneormoreofthefollowingcriteria,ittypicallyindicatesthatthesetransactionsareaccountedforasasinglepackagedeal:
i.Thetransactionsareenteredintosimultaneouslyorincontemplationofoneanother;
/
ii.Thetransactionsasawholeachieveacompletecommercialresult;iii.Therealizationofonetransactiondependsontheoccurrenceofatleastoneoftheothertransactions;or
iv.Onetransactionisnoteconomicallyjustifiedwhenviewedinisolation,butiseconomicallyjustifiedwhenconsideredtogetherwithothertransactions.Ifthetransactionsareconsideredasasinglepackagedeal,theyareaccountedforasasingledisposalofthesubsidiarywhichcausesthelossofcontroloverthesubsidiary.Thedifferencebetweeneachdisposalpricebeforethelossofcontrolandtheshareofthesubsidiary’snetassetscorrespondingtothedisposedinvestmentisrecognizedinothercomprehensiveincomeintheconsolidatedfinancialstatements,anduponlossofcontrol,thiscumulativeamountisreclassifiedintoprofitorlossfortheperiodinwhichcontrolislost.
Ifthetransactionsarenotconsideredasasinglepackagedeal,eachdisposalbeforethelossofcontrolisaccountedforasapartialdisposalofthesubsidiary’sequityinvestmentwithoutlossofcontrol.Uponlossofcontrol,thegeneraltreatmentforthedisposalofsubsidiariesisapplied.
(3)Purchaseofnon-controllinginterestsinsubsidiaries
Whenadditionallong-termequityinvestmentisacquiredduetothepurchaseofnon-controllinginterests,thedifferencebetweenthenewlyacquiredlong-termequityinvestmentandtheshareofthesubsidiary’snetassetsattributabletotheproportionofnewlyacquiredshares,calculatedcumulativelyfromtheacquisitiondateorcombinationdate,isadjustedagainstthesharepremiuminthecapitalreservesintheconsolidatedbalancesheet.Ifthecapitalreservesareinsufficienttooffsetthedifference,retainedearningsareadjusted.
(4)Partialdisposalofequityinvestmentsinsubsidiarieswithoutlossofcontrol
Thedifferencebetweentheconsiderationreceivedfromthedisposalandtheshareofthesubsidiary’snetassetsattributabletothedisposedlong-termequityinvestment,calculatedcumulativelyfromtheacquisitiondateorcombinationdate,isadjustedagainstthesharepremiuminthecapitalreservesintheconsolidatedbalancesheet.Ifthecapitalreservesareinsufficienttooffsetthedifference,retainedearningsareadjusted.
8.Classificationofjointventurearrangementsandaccountingtreatmentofjointoperations
□Applicable√N/A
9.Determinationcriteriaofcashandcashequivalents
Cashequivalentsrefertoinvestmentsheldbybusinesseswithshortterm(generallyrefertoaperiodwithin3monthsfromthepurchasingdate),highlyliquid,readilyconvertibletocashwithknownamount,andwithsmallriskofvaluefluctuation.
10.Foreigncurrencytransactionsandtranslationofforeigncurrencystatements
√Applicable□N/A
/
1.ForeigncurrencytransactionsForeigncurrencytransactionsaretranslatedintoRMBusingthespotexchangerateonthedateofthetransactionforaccountingpurposes.Onthebalancesheetdate,thebalancesofforeigncurrencymonetaryitemsaretranslatedatthespotexchangerateonthatdate.Theresultingexchangedifferences,exceptforthosearisingfromforeigncurrency-specificborrowingsrelatedtotheacquisitionorconstructionofqualifyingassets,whicharetreatedbytheprinciplesofcapitalizingborrowingcosts,arerecognizedinthecurrentperiod’sprofitorloss.
2.TranslationofforeigncurrencyfinancialstatementsTheassetsandliabilitiesinthebalancesheetaretranslatedatthespotexchangerateonthebalancesheetdate.Forequityitems,otherthan“undistributedprofits,”thehistoricalexchangeratesatthetimeofthetransactionsareusedfortranslation.Incomeandexpenseitemsintheincomestatementaretranslatedusingthespotexchangerateonthedateofthetransaction.Upondisposalofaforeignoperation,thecumulativetranslationdifferencesrelatedtothatforeignoperation,whichwerepreviouslyrecognizedinequity,arereclassifiedtoprofitorlossintheperiodofdisposal.
11.Financialinstruments
√Applicable□N/ATheCompanyrecognizesafinancialasset,financialliability,orequityinstrumentwhenitbecomesapartytoafinancialinstrumentcontract.
1.ClassificationoffinancialinstrumentsBasedontheCompany’sbusinessmodelformanagingfinancialassetsandthecharacteristicsofthecontractualcashflows,financialassetsareclassifiedatinitialrecognitionasfinancialassetsmeasuredatamortizedcost,financialassetsmeasuredatfairvaluethroughothercomprehensiveincome(FVOCI),andfinancialassetsmeasuredatfairvaluethroughprofitorloss(FVTPL).
TheCompanyclassifiesfinancialassetsasmeasuredatamortizedcostifbothofthefollowingconditionsaremetandthefinancialassetsarenotdesignatedasatFVTPL:
–Thebusinessmodelaimstoholdtheassettocollectthecontractualcashflows;
–Thecontractualcashflowsaresolelypaymentsofprincipalandinterestontheprincipalamountoutstanding.
TheCompanyclassifiesfinancialassetsasatFVOCI(debtinstruments)ifbothofthefollowingconditionsaremetandthefinancialassetsarenotdesignatedasatFVTPL:
–Thebusinessmodelaimsbothtocollectcontractualcashflowsandtosellthefinancialasset;
–Thecontractualcashflowsaresolelypaymentsofprincipalandinterestontheprincipalamount
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outstanding.
Forinvestmentsinequityinstrumentsthatarenotheldfortrading,theCompanymay,atinitialrecognition,irrevocablydesignatethemasatFVOCI(equityinstruments).Thisdesignationismadeonanindividualinvestmentbasis,andtherelatedinvestmentmeetsthedefinitionofanequityinstrumentfromtheissuer’sperspective.InadditiontothefinancialassetsmeasuredatamortizedcostandFVOCImentionedabove,theCompanyclassifiesallotherfinancialassetsasatFVTPL.Atinitialrecognition,ifiteliminatesorsignificantlyreducesanaccountingmismatch,theCompanymayirrevocablydesignateafinancialassetthatwouldotherwisebeclassifiedasmeasuredatamortizedcostoratFVOCIasafinancialassetmeasuredatFVTPL.FinancialliabilitiesareclassifiedatinitialrecognitionaseitherfinancialliabilitiesatFVTPLoratamortizedcost.
AfinancialliabilitymaybedesignatedatFVTPLatinitialrecognitionifitmeetsoneofthefollowingconditions:
1)Thedesignationeliminatesorsignificantlyreducesanaccountingmismatch.
2)Thefinancialliabilityismanagedanditsperformanceisevaluatedonafairvaluebasis,followingtheCompany’sdocumentedriskmanagementorinvestmentstrategy,andinformationaboutthefinancialliabilityisprovidedinternallyonthatbasistokeymanagementpersonnel.
3)Thefinancialliabilitycontainsanembeddedderivativethatneedstobeseparated.
2.Basisforrecognizingandmeasuringfinancialinstruments
(1)Financialassetsmeasuredatamortizedcost
Financialassetsmeasuredatamortizedcostincludenotesreceivable,accountsreceivable,otherreceivables,long-termreceivables,debtinvestments,etc.Theseassetsareinitiallymeasuredatfairvalue,withrelatedtransactioncostsincludedintheinitialrecognitionamount.AccountsreceivablethatdonotcontainasignificantfinancingcomponentandthoseforwhichtheCompanyhasdecidednottoconsiderthefinancingcomponentofoneyearorlessareinitiallymeasuredatthecontractualtransactionprice.
Interestcalculatedusingtheeffectiveinterestmethodduringtheholdingperiodisrecognizedinthecurrentprofitorloss.
Uponrecoveryordisposal,thedifferencebetweentheconsiderationreceivedandthecarryingvalueofthefinancialassetisrecognizedinthecurrentprofitorloss.
(2)FinancialassetsatFVOCI(debtinstruments)
FinancialassetsmeasuredatFVOCI(debtinstruments)includeaccountsreceivablefinancing,otherdebtinvestments,etc.Theseassetsareinitiallymeasuredatfairvalue,withrelatedtransactioncostsincludedintheinitialrecognitionamount.Subsequently,thesefinancialassetsaremeasuredatfairvalue,
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withchangesinfairvalue,exceptforinterestcalculatedusingtheeffectiveinterestmethod,impairmentlossesorgains,andforeignexchangegainsorlosses,recognizedinothercomprehensiveincome.Uponderecognition,thecumulativegainsorlossespreviouslyrecognizedinothercomprehensiveincomearetransferredfromothercomprehensiveincometocurrentprofitorloss.
(3)FinancialassetsatFVOCI(equityinstruments)FinancialassetsatFVOCI(equityinstruments)includeinvestmentsinotherequityinstruments,etc.Theseassetsareinitiallymeasuredatfairvalue,withrelatedtransactioncostsincludedintheinitialrecognitionamount.Subsequently,thesefinancialassetsaremeasuredatfairvalue,withchangesinfairvaluerecognizedinothercomprehensiveincome.Dividendsreceivedarerecognizedincurrentprofitorloss.Uponderecognition,thecumulativegainsorlossespreviouslyrecognizedinothercomprehensiveincomearetransferredfromothercomprehensiveincometoretainedearnings.
(4)FinancialassetsatFVTPLFinancialassetsatFVTPLincludefinancialassetsheldfortrading,derivativefinancialassets,andothernon-currentfinancialassets.Theseassetsareinitiallymeasuredatfairvalue,withrelatedtransactioncostsrecognizedincurrentprofitorloss.Subsequently,thesefinancialassetsaremeasuredatfairvalue,withchangesinfairvaluerecognizedincurrentprofitorloss.
(5)FinancialliabilitiesatFVTPLFinancialliabilitiesatFVTPLincludefinancialliabilitiesheldfortrading,derivativefinancialliabilities,etc.Theseliabilitiesareinitiallymeasuredatfairvalue,withrelatedtransactioncostsrecognizedincurrentprofitorloss.Subsequently,thesefinancialliabilitiesaremeasuredatfairvalue,withchangesinfairvaluerecognizedincurrentprofitorloss.Uponderecognition,thedifferencebetweenthecarryingvalueandtheconsiderationpaidisrecognizedinthecurrentprofitorloss.
(6)FinancialliabilitiesmeasuredatamortizedcostFinancialliabilitiesmeasuredatamortizedcostincludeshort-termborrowings,notespayable,accountspayable,otherpayables,long-termborrowings,bondspayable,andlong-termpayables.Theseliabilitiesareinitiallymeasuredatfairvalue,withrelatedtransactioncostsincludedintheinitialrecognitionamount.Interestcalculatedusingtheeffectiveinterestmethodduringtheholdingperiodisrecognizedinthecurrentprofitorloss.
Uponderecognition,thedifferencebetweentheconsiderationpaidandthecarryingvalueofthefinancialliabilityisrecognizedinthecurrentprofitorloss.
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3.CriteriaandmeasurementmethodsforderecognitionandtransferoffinancialassetsTheCompanyderecognizesafinancialassetwhenoneofthefollowingconditionsismet:
–Thecontractualrightstothecashflowsfromthefinancialassetexpire;–Thefinancialassethasbeentransferred,andsubstantiallyalltherisksandrewardsofownershipofthefinancialassethavebeentransferredtothetransferee;–Thefinancialassethasbeentransferred,althoughtheCompanyhasneithertransferrednorretainedsubstantiallyalltherisksandrewardsofownership,ithasnotretainedcontroloverthefinancialasset.
IftheCompanyandacounterpartymodifyorrenegotiateacontractinawaythatresultsinasubstantialmodification,theoriginalfinancialassetisderecognized,andanewfinancialassetisrecognizedbasedonthemodifiedterms.If,inatransferofafinancialasset,theCompanyretainssubstantiallyalltherisksandrewardsofownershipofthefinancialasset,theassetisnotderecognized.Inassessingwhetherafinancialassettransfermeetstheabovederecognitioncriteria,theCompanyappliestheprincipleofsubstanceoverform.
TheCompanydistinguishesbetweentransfersofthefinancialassetsasawholeandtransfersofaportionofafinancialasset.Ifthetransferoffinancialassetsasawholemeetsthederecognitioncriteria,thedifferencebetweenthefollowingtwoamountsisrecognizedinprofitorlossinthecurrentperiod:
(1)Thecarryingvalueofthetransferredfinancialasset;and
(2)Thesumoftheconsiderationreceivedfromthetransferandanycumulativegainorlosspreviouslyrecognizedinothercomprehensiveincomethatisassociatedwiththetransferredfinancialasset(incaseswherethefinancialassetisadebtinstrumentmeasuredatFVOCI).
Ifthetransferofaportionofafinancialassetmeetsthederecognitioncriteria,thecarryingvalueofthefinancialassetsasawholeisallocatedbetweentheportionthatisderecognizedandtheportionthatisnotderecognized,basedontheirrelativefairvalues.Thedifferencebetweenthefollowingtwoamountsisrecognizedinprofitorlossinthecurrentperiod:
(1)Thecarryingvalueoftheportionthatisderecognized;and
(2)Thesumoftheconsiderationreceivedfortheportionthatisderecognizedandthecumulativegainorlosspreviouslyrecognizedinothercomprehensiveincomethatisassociatedwiththeportionthatisderecognized(incaseswherethefinancialassetisadebtinstrumentmeasuredatFVOCI).
Ifthetransferofafinancialassetdoesnotmeetthederecognitioncriteria,theCompanycontinuestorecognizethefinancialassetandrecognizestheconsiderationreceivedasafinancialliability.
4.Derecognitionoffinancialliabilities
Afinancialliability,orpartofit,isderecognizedwhentheobligationspecifiedinthecontractis
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discharged.IftheCompanyentersintoanagreementwithacreditortoreplaceanexistingfinancialliabilitywithanewfinancialliability,andthetermsofthenewfinancialliabilityaresubstantiallydifferentfromthoseoftheexistingfinancialliability,theexistingfinancialliabilityisderecognizedandanewfinancialliabilityisrecognized.Ifthetermsofanexistingfinancialliabilityaresubstantiallymodified,theexistingfinancialliability,orpartofit,isderecognized,andthemodifiedfinancialliabilityisrecognizedasanewfinancialliability.
Whenafinancialliabilityisfullyorpartiallyderecognized,thedifferencebetweenthecarryingvalueofthederecognizedfinancialliabilityandtheconsiderationpaid(includinganytransferrednon-cashassetsornewfinancialliabilitiesassumed)isrecognizedinprofitorlossinthecurrentperiod.
IftheCompanyrepurchasesaportionofafinancialliability,thecarryingvalueofthefinancialliabilityisallocatedontherepurchasedatebetweentheportionthatcontinuestoberecognizedandtheportionthatisderecognized,basedontheirrelativefairvalues.Thedifferencebetweenthecarryingvalueallocatedtothederecognizedportionandtheconsiderationpaid,includinganytransferrednon-cashassetsornewfinancialliabilitiesassumed,isrecognizedinprofitorlossinthecurrentperiod.
5.Methodsfordeterminingthefairvalueoffinancialassetsandfinancialliabilities
Forfinancialinstrumentswithactivemarkets,thefairvalueisdeterminedbasedonquotedpricesinthoseactivemarkets.Forfinancialinstrumentsforwhichnoactivemarketexists,fairvalueisdeterminedusingvaluationtechniques.Inapplyingvaluationtechniques,theCompanyusesvaluationmethodsthatareappropriateunderthecurrentcircumstancesandaresupportedbysufficientandreliabledataandotherrelevantinformation.Theinputsusedinthevaluationareconsistentwiththecharacteristicsoftheassetorliabilityconsideredbymarketparticipantsinthetransaction,withapreferencegiventoobservableinputswhenavailable.Unobservableinputsareusedonlywhenrelevantobservableinputsarenotavailableorareimpracticaltoobtain.
6.Impairmenttestingandaccountingtreatmentforfinancialinstruments
TheCompanyaccountsfortheimpairmentoffinancialassetsmeasuredatamortizedcost,financialassetsatFVOCI(debtinstruments),andfinancialguaranteecontractsbasedonexpectedcreditlosses.
TheCompanyconsidersreasonableandsupportableinformationaboutpastevents,currentconditions,andforecastsoffutureeconomicconditionsinassessingcreditriskandcalculatingthepresentvalueofthedifferencebetweenthecontractualcashflowsandtheexpectedcashflows.Thispresentvalueisweightedbytheprobabilityofdefaulttodeterminetheexpectedcreditloss.
ForreceivablesandcontractassetsarisingfromtransactionsgovernedbyAccountingStandardforBusinessEnterprisesNo.14—Revenue,theCompanymeasuresthelossallowancebasedontheexpectedcreditlossesovertheentirelifetimeoftheasset,regardlessofwhetherasignificantfinancingcomponent
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exists.ForleasereceivablesarisingfromtransactionsgovernedbyAccountingStandardforBusinessEnterprisesNo.21—Leases,theCompanyalsomeasuresthelossallowancebasedontheexpectedcreditlossesovertheentirelifetimeofthelease.Forotherfinancialinstruments,theCompanyassesseschangesincreditrisksinceinitialrecognitionateachbalancesheetdate.TheCompanyevaluateswhetherthecreditriskofafinancialinstrumenthassignificantlyincreasedsinceinitialrecognitionbycomparingtheriskofdefaultonthebalancesheetdatewiththeriskofdefaultatinitialrecognition,toassessrelativechangesindefaultriskovertheexpectedlifetimeofthefinancialinstrument.Generally,ifafinancialinstrumentismorethan30dayspastdue,theCompanyconsidersthatthecreditriskhasincreasedsignificantlyunlessthereisstrongevidencethatthecreditriskhasnotincreasedsignificantlysinceinitialrecognition.
Ifthecreditriskofafinancialinstrumentislowonthebalancesheetdate,theCompanyconsidersthatthecreditriskhasnotsignificantlyincreasedsinceinitialrecognition.
Ifthecreditriskofafinancialinstrumenthassignificantlyincreasedsinceinitialrecognition,theCompanymeasuresthelossallowancebasedontheexpectedcreditlossesovertheentirelifetimeofthefinancialinstrument.Ifthecreditriskhasnotsignificantlyincreased,theCompanymeasuresthelossallowancebasedontheexpectedcreditlossesforthenext12months.Theincreaseorreversalofthelossallowanceisrecognizedasimpairmentlossorgaininprofitorlossinthecurrentperiod.ForfinancialassetsmeasuredatFVOCI(debtinstruments),thelossallowanceisrecognizedinothercomprehensiveincome,andtheimpairmentlossorgainisrecognizedinprofitorlossinthecurrentperiod,withoutreducingthecarryingvalueofthefinancialassetpresentedinthebalancesheet.
Ifthereisobjectiveevidencethatareceivablehasbeencredit-impaired,theCompanyrecognizesanimpairmentlossonthatreceivableonanindividualbasis.
Forfinancialinstrumentsotherthanthereceivablesforwhichindividualimpairmenthasbeenrecognized,theCompanygroupsfinancialinstrumentsbasedoncreditriskcharacteristicsanddeterminesexpectedcreditlossesonacollectivebasis.Thecategoriesandbasisfordeterminingexpectedcreditlossesforaccountsreceivable,accountsreceivablefinancing,andotherreceivablesareasfollows:
| Item | Category | Determinationbasis |
| Accountsreceivable,otherreceivables | Agingcategory | Expectedcreditlossesarecalculatedandanagingscheduleofotherreceivablesagainstthe |
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| Item | Category | Determinationbasis |
expectedcreditlossratepreparedbyreferringtohistoricalcreditlossexperience,combinedwithcurrentconditionsandforecastsoffuture
economicconditions.
| Accountsreceivablefinancing | Notetype | Expectedcreditlossesarecalculatedandanagingscheduleofotherreceivablesagainsttheexpectedcreditlossratepreparedbyreferringtohistoricalcreditlossexperience,combinedwithcurrentconditionsandforecastsoffutureeconomicconditions. |
IftheCompanynolongerreasonablyexpectstorecoverthecontractualcashflowsofafinancialassetinfullorinpart,thecarryingamountofthefinancialassetiswrittenoffdirectly.
12.Notesreceivable
□Applicable√N/A
13.Accountsreceivable
√Applicable□N/A
Pleasereferto“11.Financialinstruments”in“V.SignificantAccountingPoliciesandAccountingEstimates”inthissection.
14.Accountsreceivablefinancing
√Applicable□N/A
Pleasereferto“11.Financialinstruments”in“V.SignificantAccountingPoliciesandAccountingEstimates”inthissection.
15.Otherreceivables
√Applicable□N/A
Pleasereferto“11.Financialinstruments”in“V.SignificantAccountingPoliciesandAccountingEstimates”inthissection.
16.Inventories
√Applicable□N/ACategoriesofinventories,inventoryvaluationmethod,inventorysystem,andamortizationmethodforlow-valueconsumablesandpackagingmaterials
√Applicable□N/A
1.Classificationandcostofinventories
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Inventoriesareclassifiedintorawmaterials,workinprogress,self-producedsemi-finishedgoods,finishedgoods,goodsdispatched,andmaterialsconsignedforprocessing.
Inventoriesareinitiallymeasuredatcost.Thecostofinventoriesincludespurchasecosts,processingcosts,andotherexpendituresincurredtobringtheinventoriestotheircurrentlocationandcondition.
2.Inventoryvaluationmethod
Inventoriesarevaluedattheweightedaveragecostmethodwhenissued.
3.Inventorysystem
Theperpetualinventorysystemisadopted.
4.Amortizationmethodforlow-valueconsumablesandpackages
(1)Low-valueconsumablesareamortizedusingtheone-timewrite-offmethod;
(2)Packagingmaterialsareamortizedusingtheone-timewrite-offmethod.Recognitioncriteriaandmethodsforprovisionforinventorywrite-downs
√Applicable□N/A
Inventoriesaremeasuredatthelowerofcostandnetrealizablevalueonthebalancesheetdate.Whenthecostofinventoriesexceedstheirnetrealizablevalue,aprovisionforinventorywrite-downsisrecognized.Netrealizablevalueistheestimatedsellingpriceintheordinarycourseofbusiness,lesstheestimatedcostsofcompletion,estimatedsellingexpenses,andrelevanttaxes.
Forfinishedgoods,merchandise,andmaterialsheldforsaledirectly,thenetrealizablevalueisdeterminedbytheestimatedsellingpricelessestimatedsellingexpensesandrelevanttaxesinthenormalproductionandoperationprocess.Formaterialsthatrequireprocessing,thenetrealizablevalueisdeterminedbytheestimatedsellingpriceofthefinishedgoodsproduced,lesstheestimatedcostsofcompletion,estimatedsellingexpenses,andrelevanttaxesinthenormalproductionandoperationprocess.Forinventoriesheldtofulfillsalescontractsorservicecontracts,thenetrealizablevalueiscalculatedbasedonthecontractprice.Ifthequantityofinventoriesheldexceedsthequantityorderedunderthesalescontract,thenetrealizablevalueoftheexcessinventoryisbasedonthegeneralsellingprice.Categoriesandcriteriaforprovisionforinventorywrite-downsbasedongroupedinventories,andthebasisfordeterminingthenetrealizablevalueofdifferenttypesofinventories
√Applicable□N/A
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| Inventorygroupingcategories | Groupingbasis | Thebasisfordeterminingthenetrealizablevalue |
| Rawmaterials-Groupedbyaging | Inventoryaging | Netrealizablevaluedeterminedbasedonaging |
| Merchandise-Groupedbyaging | Inventoryaging | Netrealizablevaluedeterminedbasedonaging |
| Self-producedsemi-finishedgoods-Groupedbyaging | Inventoryaging | Netrealizablevaluedeterminedbasedonaging |
Methodsandbasisforcalculatingthenetrealizablevalueofinventoriesgroupedbyaging
√Applicable□N/A
| Aging | Calculationmethodsforthenetrealizablevalueofinventories |
| Within2years | 100%ofthecarryingamount |
| 2–3years | 50%ofthecarryingamount |
| Over3years | 0%ofthecarryingamount |
17.Contractassets
√Applicable□N/AMethodsandcriteriaforrecognizingcontractassets
√Applicable□N/A
Contractassetsorcontractliabilitiesarepresentedinthebalancesheetbasedontherelationshipbetweenthefulfillmentofperformanceobligationsandcustomerpayments.Therighttoconsiderationforgoodsorservicestransferredtoacustomer,whichisconditionalonfactorsotherthanthepassageoftime,ispresentedasacontractasset.Contractassetsandcontractliabilitiesunderthesamecontractarepresentedonanetbasis.TheCompany’sunconditionalrighttoconsiderationfromcustomers,whichdependssolelyonthepassageoftime,ispresentedseparatelyasreceivables.Categoriesandcriteriaforprovisionforbaddebtsbasedoncreditriskcharacteristics
□Applicable√N/AMethodforcalculatingaging-basedcreditriskcharacteristicsforcontractassets
□Applicable√N/ADeterminationofindividualprovisionsforbaddebtsandcriteriaforindividualprovisions
□Applicable√N/A
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18.Non-currentassetsordisposalgroupsheldforsale
□Applicable√N/ACriteriaforclassificationandaccountingtreatmentofnon-currentassetsordisposalgroupsheldforsale
□Applicable√N/ARecognitioncriteriaandpresentationofdiscontinuedoperations
□Applicable√N/A
19.Long-termequityinvestments
√Applicable□N/A
1.CriteriafordeterminingjointcontrolandsignificantinfluenceJointcontrolreferstothesharedcontroloveranarrangementinaccordancewithrelevantagreements,wheredecisionsabouttherelevantactivitiesofthearrangementrequiretheunanimousconsentofthepartiessharingcontrol.WheretheCompanyandotherjointventurepartnersjointlycontrolaninvesteeandhaverightstotheinvestee’snetassets,theinvesteeisconsideredasajointventureoftheCompany.
Significantinfluencereferstothepowertoparticipateinthefinancialandoperatingpolicydecisionsofaninvestee,butnotcontrolorjointlycontrolwithotherpartiestheformulationofthosepolicies.IftheCompanycanexertsignificantinfluenceoveraninvestee,theinvesteeisconsideredanassociateoftheCompany.
2.Determinetheinitialinvestmentcost
(1)Long-termequityinvestmentsarisingfrombusinesscombinations
Forlong-termequityinvestmentsinsubsidiariesarisingfrombusinesscombinationsundercommoncontrol,theinitialinvestmentcostisdeterminedbasedontheshareofthecarryingvalueoftheequityoftheacquireeintheconsolidatedfinancialstatementsoftheultimatecontrollingpartyatthecombinationdate.Thedifferencebetweentheinitialinvestmentcostandthecarryingvalueoftheconsiderationpaidisadjustedagainstthesharepremiuminthecapitalreserves.Ifthesharepremiumisinsufficienttooffsetthedifference,retainedearningsareadjusted.Whencontroloveraninvesteeundercommoncontrolisobtainedduetoadditionalinvestmentorotherreasons,iftheinitialinvestmentcostofthelong-termequityinvestmentrecognizedundertheaboveprinciplesisdifferentfromthesumofthecarryingvalueofthelong-termequityinvestmentbeforethecombinationandthecarryingvalueoftheadditionalconsiderationpaidonthecombinationdate,thedifferenceisadjustedagainstthesharepremium.Ifthesharepremiumisinsufficienttooffsetthedifference,itisdeductedfromretainedearnings.
Forlong-termequityinvestmentsinsubsidiariesarisingfrombusinesscombinationsnotundercommoncontrol,theinitialinvestmentcostisdeterminedbasedontheacquisitioncostasoftheacquisitiondate.Whencontroloveraninvesteenotundercommoncontrolisobtainedduetoadditional
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investmentorforotherreasons,theinitialinvestmentcostisdeterminedbasedonthecarryingvalueofthepreviouslyheldequityinvestmentplusthecostoftheadditionalinvestment.
(2)Long-termequityinvestmentsacquiredthroughmeansotherthanbusinesscombinationsForlong-termequityinvestmentsacquiredthroughcashpayments,theinitialinvestmentcostisdeterminedbasedontheactualpurchasepricepaid.Forlong-termequityinvestmentsacquiredthroughtheissuanceofequitysecurities,theinitialinvestmentcostisdeterminedbasedonthefairvalueoftheequitysecuritiesissued.
3.Subsequentmeasurementandtherecognitionofprofitorloss
(1)Long-termequityinvestmentsaccountedforusingthecostmethodTheCompanyaccountsforlong-termequityinvestmentsinsubsidiariesusingthecostmethod,unlesstheinvestmentisclassifiedasheldforsale.Exceptfortheportionofthepurchasepriceorconsiderationpaidthatincludesdeclaredbutunpaidcashdividendsorprofitsatthetimeofacquisition,theCompanyrecognizesthecurrentinvestmentincomebasedontheshareofthedeclaredcashdividendsorprofitsdistributedbytheinvestee.
(2)Long-termequityinvestmentsaccountedforusingtheequitymethodLong-termequityinvestmentsinassociatesandjointventuresareaccountedforusingtheequitymethod.Wheretheinitialinvestmentcostexceedstheshareofthefairvalueoftheidentifiablenetassetsoftheinvesteeatthetimeoftheinvestment,theexcessisnotadjustedtotheinitialinvestmentcostofthelong-termequityinvestment.Iftheinitialinvestmentcostislessthantheshareofthefairvalueoftheidentifiablenetassetsoftheinvesteeatthetimeoftheinvestment,thedifferenceisrecognizedinprofitorlossfortheperiodandthecostofthelong-termequityinvestmentisadjustedaccordingly.TheCompanyrecognizesitsshareofthenetprofitorlossandothercomprehensiveincomeoftheinvestee,towhichitisentitledorforwhichitisresponsible,asinvestmentincomeandothercomprehensiveincome,respectively,whileadjustingthecarryingvalueofthelong-termequityinvestment.Thecarryingvalueofthelong-termequityinvestmentisreducedbytheportionofprofitsorcashdividendsdeclaredbytheinvesteethatisattributabletotheCompany.Forotherchangesintheequityoftheinvestee,asidefromnetprofitorloss,othercomprehensiveincome,andprofitdistributions(referredtoas“otherequitychanges”),thecarryingvalueofthelong-termequityinvestmentisadjustedandthechangeisrecognizedinowners’equity.
Whenrecognizingtheshareoftheinvestee’snetprofitorloss,othercomprehensiveincome,andotherequitychanges,theCompanybasestheseamountsonthefairvalueoftheidentifiablenetassetsoftheinvesteeatthetimetheinvestmentwasacquired.Adjustmentsaremadetoaligntheinvestee’snetprofitandothercomprehensiveincomewiththeCompany’saccountingpoliciesandreportingperiodsbeforerecognition.
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UnrealizedgainsandlossesfrominternaltransactionsbetweentheCompanyanditsassociatesorjointventuresareeliminatedinproportiontotheCompany’sshare,andinvestmentincomeisrecognizedonthatbasis,exceptwherethetransferredorsoldassetsconstituteabusiness.Unrealizedinternaltransactionlosseswiththeinvesteearefullyrecognizediftheyarerelatedtoassetimpairmentlosses.Iftheinvesteeincursnetlosses,theCompanyreducesthecarryingvalueofthelong-termequityinvestmentandanyotherlong-termintereststhatsubstantiallyformpartofthenetinvestmentintheinvesteeuptozero,exceptwhentheCompanyshallbearadditionallosses.Iftheassociateorjointventuresubsequentlygeneratesnetprofits,theCompanyresumesrecognizingitsshareofprofitsaftercoveringanyunrecognizedlosses.
(3)Disposaloflong-termequityinvestments
Whendisposingofalong-termequityinvestment,thedifferencebetweenitscarryingvalueandtheactualproceedsreceivedisrecognizedinprofitorlossinthecurrentperiod.
Forpartialdisposalsoflong-termequityinvestmentsaccountedforusingtheequitymethod,iftheremainingequityinterestisstillaccountedforusingtheequitymethod,theportionofothercomprehensiveincomepreviouslyrecognizedundertheequitymethodisreclassifiedproportionately,basedonthesamebasisasiftheinvesteehaddirectlydisposedofrelatedassetsorliabilities.Otherchangesinowners’equityarereclassifiedproportionatelytoprofitorlossfortheperiod.
Whenthedisposalofequityinvestmentsresultsinthelossofjointcontrolorsignificantinfluenceovertheinvestee,anyothercomprehensiveincomepreviouslyrecognizedundertheequitymethodisaccountedforbasedonthesameprinciplesasiftheinvesteehaddirectlydisposedofrelatedassetsorliabilitieswhentheequitymethodisdiscontinued.Allotherchangesinowners’equityarereclassifiedtoprofitorlossupondiscontinuationoftheequitymethod.
Whenthedisposalofaportionofanequityinvestmentresultsinthelossofcontrolovertheinvestee,andinthepreparationofindividualfinancialstatements,iftheremainingequityinterestallowstheCompanytoexertjointcontrolorsignificantinfluenceovertheinvestee,theremainingequityinterestisaccountedforusingtheequitymethod.Theremainingequityinterestisadjustedasifitwereaccountedforusingtheequitymethodfromthedateofacquisition.Theportionofothercomprehensiveincomerecognizedbeforeobtainingcontrolovertheinvesteeisreclassifiedproportionately,basedonthesamebasisasiftheinvesteehaddirectlydisposedofrelatedassetsorliabilities.Otherchangesinowners’equityrecognizedundertheequitymethodarereclassifiedproportionatelytoprofitorlossfortheperiod.IftheremainingequityinterestdoesnotallowtheCompanytoexertjointcontrolorsignificantinfluenceovertheinvestee,itisrecognizedasafinancialasset,andthedifferencebetweenitsfairvalueonthedatecontrolislostanditscarryingvalueisrecognizedinprofitorlossfortheperiod.Allothercomprehensiveincomeandchangesinowners’equityrecognizedpriortotheacquisitionof
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controlovertheinvesteearereclassifiedinfull.Whencontroloverasubsidiaryislostduetothestepwisedisposalofequityinvestmentsthroughmultipletransactions,andthesetransactionsarepartofasinglepackagedeal,allsuchtransactionsareaccountedforasasingletransactionthatresultsinthedisposalofthesubsidiary’sequityinvestmentandthelossofcontrol.Thedifferencebetweenthedisposalpriceandthecarryingvalueoftheequityinvestmentcorrespondingtoeachdisposal,priortothelossofcontrol,isrecognizedasothercomprehensiveincomeintheindividualfinancialstatements,andreclassifiedinfulltoprofitorlossintheperiodwhencontrolislost.Ifthetransactionsarenotpartofasinglepackagedeal,eachtransactionisaccountedforseparately.
20.InvestmentpropertyN/A
21.Fixedassets
(1)Recognitioncriteria
√Applicable□N/AFixedassetsrefertotangibleassetsheldforuseintheproductionofgoods,provisionofservices,rental,ormanagingoperations,withausefullifeexceedingoneaccountingperiod.Fixedassetsarerecognizedwhentheysimultaneouslymeetthefollowingcriteria:
(1)Itisprobablethattheeconomicbenefitsassociatedwiththefixedassetwillflowtotheenterprise;
(2)Thecostofthefixedassetcanbemeasuredreliably.
Fixedassetsareinitiallymeasuredatcost(takingintoaccounttheeffectofestimateddismantlingcosts).
Subsequentexpendituresrelatedtofixedassetsareincludedinthecostofthefixedassetswhenitisprobablethattheeconomicbenefitsrelatedtothemwillflowtotheenterpriseandtheircostcanbereliablymeasured;thecarryingvalueisderecognizedforthereplacedparts.Allothersubsequentexpendituresarerecognizedinprofitorlossfortheperiodinwhichtheyareincurred.
(2)Depreciationmethod
√Applicable□N/A
Fixedassetsaredepreciatedbythestraight-linemethod,classifiedaccordingtothecategoriesoffixedassets,estimatedusefullife,andestimatedresidualvalueratetodeterminethedepreciationrate.Forfixedassetsthathaverecognizedimpairmentlosses,depreciationiscalculatedinfutureperiodsbasedonthecarryingvalueafterdeductingtheimpairmentprovisionandconsideringtheremainingusefullife.Ifdifferentpartsofafixedassethavedifferentusefullivesorprovideeconomicbenefitstotheenterpriseindifferentways,differentdepreciationratesormethodsareselected,anddepreciationiscalculatedseparately.
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Thedepreciationmethods,depreciableperiod,residualvaluerates,andannualdepreciationratesforeachcategoryoffixedassetsareasfollows:
| Categories | Depreciationmethod | Depreciableperiod(year) | Residualvaluerate | Annualdepreciationrate |
| Buildingsandstructures | Straight-linemethod | 20 | 5.00 | 4.75 |
| Machineryequipment | Straight-linemethod | 10 | 5.00 | 9.50 |
| Officeequipment | Straight-linemethod | 5 | 5.00 | 19.00 |
| Transportationequipment | Straight-linemethod | 4 | 5.00 | 23.75 |
| Electronicequipment | Straight-linemethod | 3 | 5.00 | 31.67 |
| Otherequipment | Straight-linemethod | 5 | 5.00 | 19.00 |
Whenafixedassetisdisposedoforisexpectedtogeneratenofutureeconomicbenefitsfromitsuseordisposal,itisderecognized.Theamountoftheproceedsfromthesale,transfer,retirement,ordestructionofafixedasset,netofitscarryingvalueandrelatedtaxesandfees,isrecognizedinprofitorlossinthecurrentperiod.
22.Constructioninprogress
√Applicable□N/A
Constructioninprogressismeasuredatactualcosts.Theactualcostsincludeconstructioncosts,installationcosts,borrowingcoststhatqualifyforcapitalization,andothernecessaryexpendituresincurredtobringtheconstructioninprogresstotheintendedusablestate.Whenconstructioninprogressreachestheintendedusablestate,itistransferredtofixedassetsanddepreciationbeginsinthefollowingmonth.TheCompany’scriteriaandtimingfortransferringconstructioninprogresstofixedassetsareasfollows:
| Categories | Criteriaandtimingfortransfertofixedassets |
| Buildingsandstructures | (1)Themainconstructionandancillaryworkshavebeensubstantiallycompleted;(2)Theconstructionhasmettheintendeddesignrequirementsandhasbeeninspectedandacceptedbysurvey,design,construction,supervision,andotherrelevantunits;(3)Theconstructionhaspassedinspectionbyexternalpartiessuchasfiresafety,land,andplanningauthorities;(4)Iftheconstructionprojecthasreachedtheintendedusablestatebutthefinalsettlementofaccountshasnotyetbeencompleted,theactualcostoftheprojectisestimatedandtransferredtofixedassetsfromthedatetheintendedusablestateisreached. |
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| Categories | Criteriaandtimingfortransfertofixedassets |
| Machineryequipmenttobeinstalledandcommissioned | (1)Therelevantequipmentandothersupportingfacilitieshavebeenfullyinstalled;(2)Theequipmenthasbeentestedandcanoperatenormallyandstablyforaperiodoftime;(3)Theproductionequipmentcanproducequalifiedproductsconsistentlyoveraperiodoftime;(4)Theequipmenthasbeeninspectedandacceptedbyassetmanagementpersonnelandusers. |
23.Borrowingcosts
√Applicable□N/A
1.PrinciplesforrecognizingcapitalizationofborrowingcostsBorrowingcostsincurredbytheCompanythataredirectlyattributabletotheacquisition,construction,orproductionofqualifyingassetsarecapitalizedandincludedinthecostoftherelevantassets.Otherborrowingcostsarerecognizedasexpensesintheperiodinwhichtheyareincurredandareincludedinprofitorlossinthecurrentperiod.
Qualifyingassetsrefertoassetssuchasfixedassets,investmentproperties,andinventoriesthatnecessarilytakeasubstantialperiodtogetreadyfortheirintendeduseorsale.
2.Capitalizationperiodofborrowingcosts
Thecapitalizationperiodreferstothetimefromthecommencementofcapitalizationofborrowingcostsuntilthepointatwhichcapitalizationceases,excludinganyperiodduringwhichcapitalizationissuspended.
Borrowingcostsbegintobecapitalizedwhenallofthefollowingconditionsaremet:
(1)Expendituresfortheassethavebeenincurred,includingcashpayments,thetransferofnon-cashassets,ortheassumptionofinterest-bearingliabilitiesfortheacquisition,construction,orproductionofqualifyingassets;
(2)Borrowingcostshavebeenincurred;
(3)Activitiesnecessarytopreparetheassetforitsintendeduseorsaleareinprogress.
Capitalizationofborrowingcostsceaseswhenthequalifyingassetisreadyforitsintendeduseorsale.
3.Suspensionofcapitalization
Ifthereisanabnormalinterruptionintheacquisition,construction,orproductionprocessofaqualifyingasset,andtheinterruptionlastsformorethanthreeconsecutivemonths,capitalizationofborrowingcostsissuspended.Iftheinterruptionisnecessarytobringthequalifyingassettoitsintendedusableorsaleablecondition,capitalizationofborrowingcostscontinues.Borrowingcostsincurred
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duringtheinterruptionarerecognizedasprofitorlossinthecurrentperiod,andcapitalizationresumeswhentheacquisition,construction,orproductionactivitiesrecommence.
4.CalculationmethodforthecapitalizationrateandcapitalizationamountofborrowingcostsForspecificborrowingsobtainedfortheacquisition,construction,orproductionofqualifyingassets,theamountofborrowingcoststobecapitalizedisdeterminedbysubtractingtheinterestincomeearnedfromtheunusedborrowedfundsdepositedinthebankortheinvestmentincomeearnedfromtemporaryinvestments,fromtheactualborrowingcostsincurredduringtheperiod.
Forgeneralborrowingsusedfortheacquisition,construction,orproductionofqualifyingassets,theamountofborrowingcoststobecapitalizediscalculatedbyapplyingthecapitalizationratetotheweightedaverageoftheassetexpendituresthatexceedthespecificborrowings.Thecapitalizationrateisdeterminedbasedontheweightedaverageactualinterestrateofthegeneralborrowings.Duringthecapitalizationperiod,exchangedifferencesonforeigncurrency-specificborrowings,includingbothprincipalandinterest,arecapitalizedandincludedinthecostofthequalifyingassets.Exchangedifferencesontheprincipalandinterestofotherforeigncurrencyborrowings,exceptforforeigncurrency-specificborrowings,arerecognizedinprofitorlossinthecurrentperiod.
24.Biologicalassets
□Applicable√N/A
25.Oilandgasassets
□Applicable√N/A
26.Intangibleassets
Valuationmethodforintangibleassets
(1)TheCompanyinitiallymeasuresintangibleassetsatcostuponacquisition.
Thecostofpurchasedintangibleassetsincludesthepurchaseprice,relatedtaxes,andotherexpendituresdirectlyattributabletobringingtheassettoitsintendeduse.
(2)Subsequentmeasurement
Whenacquiringanintangibleasset,theCompanyassessesanddeterminesitsusefullife.
IntangibleassetswithafiniteusefullifeareamortizedovertheperiodduringwhichtheyareexpectedtogenerateeconomicbenefitsfortheCompany.IftheperiodduringwhichtheintangibleassetisexpectedtogenerateeconomicbenefitsfortheCompanycannotbereasonablyestimated,theassetisclassifiedashavinganindefiniteusefullifeandisnotamortized.
(1)Usefullifeandthebasisforitsdetermination,estimation,amortizationmethod,orreviewprocedures
√Applicable□N/A
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1.Estimationofusefullifeforintangibleassetswithafiniteusefullife
| Item | Estimatedusefullife | Amortizationmethod | Basisfordeterminingestimatedusefullife |
| Software | 5 | Straight-linemethod | Estimatedbenefitperiod |
| Land | 50 | Straight-linemethod | Estimatedbenefitperiod |
| Patents | 10 | Straight-linemethod | Estimatedbenefitperiod |
| Others | 3 | Straight-linemethod | Estimatedbenefitperiod |
| Non-patentedtechnology | 10 | Straight-linemethod | Estimatedbenefitperiod |
2.CriteriafordeterminingtheindefiniteusefullifeofintangibleassetsandproceduresforreviewingusefullifeIftheperiodduringwhichtheintangibleassetisexpectedtogenerateeconomicbenefitsfortheCompanycannotbereasonablyestimated,theassetisclassifiedashavinganindefiniteusefullifeandisnotamortized.TheCompanydoesnothaveanyintangibleassetswithanindefiniteusefullifeduringthereportingperiod.
(2)ScopeofaggregationandaccountingtreatmentforR&Dexpenditures
√Applicable□N/A
1.ScopeofaggregationforR&DexpendituresTheCompanyaggregatesallexpensesdirectlyrelatedtotheR&Dactivities,includingemployeebenefitsforR&Dpersonnel,expensesrelatedtoequityincentives,materialinputcosts,depreciationandamortizationexpenses,andcostsforoutsourcedR&Dactivities.
2.SpecificcriteriafordifferentiatingtheresearchphaseandthedevelopmentphaseExpendituresoninternalR&Dprojectsareclassifiedintoresearchphaseexpendituresanddevelopmentphaseexpenditures.
Researchphase:Thisstageinvolvesoriginalandplannedinvestigationsundertakentoacquireandunderstandnewscientificortechnicalknowledge.
Developmentphase:Thisstageinvolvesapplyingresearchfindingsorotherknowledgetoaplanor
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designfortheproductionofneworsubstantiallyimprovedmaterials,devices,products,etc.,beforecommencingcommercialproductionoruse.
3.SpecificconditionsforcapitalizingdevelopmentphaseexpendituresExpendituresduringtheresearchphaseareincludedintheprofitorlossofthecurrentperiodwhentheyoccur.Developmentphaseexpendituresarecapitalizedasintangibleassetswhenallofthefollowingconditionsaremet;otherwise,theyareincludedinthecurrentprofitorloss:
(1)Thetechnicalfeasibilityofcompletingtheintangibleassetsothatitcanbeutilizedorsoldisestablished;
(2)Thereisanintentiontocompletetheintangibleassetanduseorsellit;
(3)Thereisevidenceofhowtheintangibleassetwillgenerateeconomicbenefits,includingdemonstratingtheexistenceofamarketfortheproductsproducedusingtheintangibleassetorfortheintangibleassetitself,orifitistobeusedinternally,demonstratingitsusefulness;
(4)Thereareadequatetechnical,financial,andotherresourcesavailabletocompletethedevelopmentoftheintangibleassetandtouseorsellit;
(5)Theexpendituresattributabletothedevelopmentphaseoftheintangibleassetcanbereliablymeasured.
Ifitisnotpossibletodistinguishbetweentheexpendituresattributabletotheresearchphaseandthedevelopmentphase,allR&Dexpendituresarerecognizedinprofitorlossasincurred.
27.Impairmentoflong-termassets
√Applicable□N/A
Forlong-termassetssuchaslong-termequityinvestments,fixedassets,constructioninprogress,right-of-useassets,intangibleassetswithfiniteusefullives,andoilandgasassets,animpairmenttestisconductedifthereareindicationsofimpairmentasofthebalancesheetdate.Iftheimpairmenttestindicatesthattherecoverableamountofanassetislessthanitscarryingvalue,theimpairmentprovisionismadeaccordingtothedifferenceandincludedintheimpairmentloss.Therecoverableamountisthehigheroftheasset’snetfairvalueafterdeductingdisposalcostsorthepresentvalueoftheexpectedfuturecashflowsfromtheasset.Provisionforimpairmentiscalculatedandrecognizedonanindividualassetbasis.Ifitisdifficulttoestimatetherecoverableamountofanindividualasset,therecoverableamountoftheassetgrouptowhichtheassetbelongsisdetermined.Anassetgroupisthesmallestidentifiablegroupofassetsthatgeneratescashinflowsindependently.
Forgoodwillarisingfrombusinesscombinations,intangibleassetswithindefiniteusefullives,andintangibleassetsthatarenotyetreadyforuse,impairmenttestsareconductedatleastannually,regardlessofwhetherthereareindicationsofimpairment.
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Whenconductingagoodwillimpairmenttest,thecarryingvalueofgoodwillresultingfromthebusinesscombinationisallocatedtotherelevantassetgrouporgroupsonareasonablebasisfromtheacquisitiondate.Ifitisdifficulttoallocatethegoodwilltotherelevantassetgroup,itisallocatedtoagroupofassetgroups.Therelevantassetgrouporcombinationofassetgroupsarethosethatareexpectedtobenefitfromthesynergiesofthebusinesscombination.
Whenperforminganimpairmenttestonanassetgrouporcombinationofassetgroupsthatincludegoodwill,ifthereareindicationsofimpairmentfortheassetgrouporcombinationofassetgroupsthatareassociatedwiththegoodwill,animpairmenttestisfirstconductedontheassetgrouporcombinationofassetgroupswithoutconsideringthegoodwill.Therecoverableamountiscalculatedandcomparedwiththecarryingvalue,andanyimpairmentlossisrecognized.Theimpairmenttestisthenconductedontheassetgrouporcombinationofassetgroupsthatincludethegoodwill.Iftherecoverableamountislessthanthecarryingvalue,theimpairmentlossisfirstallocatedtoreducethecarryingvalueofthegoodwillallocatedtotheassetgrouporgroupofassetgroups.Anyremainingimpairmentlossisthenallocatedproportionallytoreducethecarryingvaluesoftheotherassetsintheassetgrouporcombinationofassetgroupsbasedontherelativecarryingvaluesofthoseassets.Onceanimpairmentlossisrecognizedfortheaboveassets,itisnotreversedinsubsequentaccountingperiods.
28.Long-termdeferredexpenses
√Applicable□N/A
Long-termdeferredexpensesrefertoexpendituresthathavealreadybeenincurredbutshouldbeamortizedoverthecurrentandsubsequentperiods,withanamortizationperiodofmorethanoneyear.
Theamortizationperiodandmethodforeachexpenseitemareasfollows:
| Item | Amortizationmethod | Amortizationperiod |
| Renovationcosts | Straight-linemethod | Estimatedbenefitperiod |
| Others | Straight-linemethod | Estimatedbenefitperiod |
29.Contractliabilities
√Applicable□N/A
Contractassetsorcontractliabilitiesarepresentedinthebalancesheetbasedontherelationsbetweenthefulfillmentofperformanceobligationsandcustomerpayments.Theobligationtotransfergoodsorprovideservicestoacustomer,forwhichconsiderationhasbeenreceivedorisreceivable,ispresentedasacontractliability.Contractassetsandcontractliabilitiesunderthesamecontractarepresentedonanetbasis.
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30.Employeebenefits
(1)Accountingtreatmentofshort-termbenefits
√Applicable□N/A
TheCompanyrecognizestheactualamountofshort-termbenefitsincurredduringtheaccountingperiodinwhichemployeesprovideservicestotheCompanyasaliabilityandincludesitinthecurrentperiod’sprofitorlossorthecostofrelevantassets.TheCompanycalculatesanddeterminestheamountofemployeebenefitsforsocialinsurancecontributionsandhousingprovidentfunds,aswellasunionfeesandemployeeeducationexpenses,basedontheprescribedaccrualbasisandprovisionratioduringtheaccountingperiodinwhichemployeesrenderservices.
EmployeewelfareexpensesincurredbytheCompanyarerecognizedinprofitorlossorthecostofrelevantassetsbasedontheactualamountincurredwhentheyoccur,withnon-monetarybenefitsmeasuredatfairvalue.
(2)Accountingtreatmentofpost-employmentbenefits
√Applicable□N/A
(1)Definedcontributionplans
TheCompanycontributestobasicpensioninsuranceandunemploymentinsuranceforemployeesfollowingtherelevantlocalgovernmentregulations.Thecontributionsarecalculatedbasedontheprescribedcontributionbaseandpercentageandarerecognizedasaliabilityandincludedinthecurrentperiod’sprofitorlossorthecostofrelevantassetsduringtheaccountingperiodinwhichemployeesrenderservices.Additionally,theCompanyparticipatesinenterpriseannuityplans/supplementarypensioninsurancefundsapprovedbytherelevantnationalauthorities.Contributionstotheannuityplans/localsocialinsuranceagencies,calculatedasapercentageoftotalemployeewages,arerecognizedasexpensesinthecurrentperiod’sprofitorlossorthecostofrelevantassets.
(2)Definedbenefitplans
TheCompanyattributesthebenefitobligationsarisingfromdefinedbenefitplanstotheperiodduringwhichemployeesrenderservicesbasedonaformuladeterminedbytheprojectedunitcreditmethodandrecognizestheexpensesinthecurrentperiod’sprofitorlossorthecostofrelevantassets.
Thepresentvalueofdefinedbenefitplanobligations,minusthefairvalueofdefinedbenefitplanassets,resultsinadeficitorsurplusthatisrecognizedasanetdefinedbenefitliabilityorasset.Ifasurplusexistsinthedefinedbenefitplan,theCompanymeasuresthenetassetofthedefinedbenefitplanatthelowerofthesurplusortheassetceiling.
Allobligationsunderdefinedbenefitplans,includingthoseexpectedtobesettledwithintwelvemonthsaftertheendoftheannualreportingperiodinwhichtheemployeesrenderservices,are
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discountedusingthemarketyieldofgovernmentbondsorhigh-qualitycorporatebondsinanactivemarketwithmaturityandcurrencythatmatchthedefinedbenefitplanobligationsasofthebalancesheetdate.Servicecostsarisingfromdefinedbenefitplansandthenetinterestonthenetdefinedbenefitliabilityorassetarerecognizedinthecurrentperiod’sprofitorlossorthecostofrelevantassets.Changesresultingfromremeasurementofthenetdefinedbenefitliabilityorassetarerecognizedinothercomprehensiveincomeandarenotreclassifiedtoprofitorlossinsubsequentaccountingperiods.Uponterminationoftheoriginaldefinedbenefitplan,amountspreviouslyrecognizedinothercomprehensiveincomearereclassifiedtoundistributedprofitswithinequity.
Whenadefinedbenefitplanissettled,thedifferencebetweenthepresentvalueofthedefinedbenefitplanobligationsasofthesettlementdateandthesettlementpriceisrecognizedasagainorlossonsettlement.
(3)Accountingtreatmentofterminationbenefits
√Applicable□N/A
WhentheCompanyprovidesterminationbenefitstoemployees,itrecognizesaliabilityforemployeebenefitsarisingfromterminationbenefitsandincludesitinthecurrentperiod’sprofitorlossattheearlierofthefollowingdates:whentheCompanyisunabletounilaterallywithdrawtheofferofterminationbenefitsduetotheterminationplanorlayoffproposal;orwhentheCompanyrecognizescostsorexpensesrelatedtorestructuringthatinvolvesthepaymentofterminationbenefits.
(4)Accountingtreatmentofotherlong-termemployeebenefits
□Applicable√N/A
31.Provisions
√Applicable□N/A
TheCompanyrecognizesaprovisionforanobligationrelatedtoacontingenteventwhenallofthefollowingconditionsaremet:
(1)TheobligationisapresentobligationassumedbytheCompany;
(2)Itisprobablethatanoutflowofeconomicbenefitswillberequiredtosettletheobligation;
(3)Theamountoftheobligationcanbereliablyestimated.
Provisionsareinitiallymeasuredatthebestestimateoftheexpenditurerequiredtosettlethepresentobligation.
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Indeterminingthebestestimate,theCompanytakesintoaccounttherisks,uncertainties,andthetimevalueofmoneyassociatedwiththecontingentevent.Wheretheeffectofthetimevalueofmoneyissignificant,thebestestimateisdeterminedbydiscountingtheexpectedfuturecashoutflows.Ifthereisacontinuousrangeofpossibleoutcomesandeachoutcomewithinthatrangeisequallylikely,thebestestimateisthemidpointoftherange;inothersituations,thebestestimateisdeterminedasfollows:
Ifthecontingencyinvolvesasingleitem,themostlikelyamountisused;
Ifthecontingencyinvolvesmultipleitems,theestimateiscalculatedbyweighingallpossibleoutcomesbytheirassociatedprobabilities.
Wheretheexpenditurerequiredtosettleaprovisionisexpectedtobereimbursed,inwholeorinpart,byathirdparty,thereimbursementisrecognizedasaseparateassetwhenitisvirtuallycertainthatthereimbursementwillbereceived.Theamountrecognizedforreimbursementdoesnotexceedthecarryingvalueoftheprovision.
TheCompanyreviewsthecarryingvalueofprovisionsateachbalancesheetdateandadjuststhemtoreflectthecurrentbestestimateifthereisevidencethatthecarryingvaluedoesnotreflectthebestestimate.
TheprovisionrecognizedbytheCompanyincludestheestimatedcostforpost-salequalitymaintenanceofproducts,whichisaccruedat1.2%ofthetotalsalesrevenueofthecompleteproducts.
32.Share-basedpayments
√Applicable□N/ATheCompanyengagesinshare-basedpaymenttransactions,grantingequityinstrumentsorincurringliabilitiesbasedonequityinstrumentsinexchangeforservicesprovidedbyemployeesorotherparties.Share-basedpaymentsareclassifiedaseitherequity-settledorcash-settled.
1.Equity-settledshare-basedpayments
Forequity-settledshare-basedpaymentsinexchangeforservicesprovidedbyemployees,thefairvalueoftheequityinstrumentsgrantedismeasuredatthegrantdate.Fortransactionswheretheequityinstrumentsarevestedimmediatelyupongranting,thecostorexpenseisrecognizedonthegrantdateatthefairvalueoftheequityinstruments,withacorrespondingincreaseincapitalreserves.Fortransactionswheretheequityinstrumentsarevestedaftercompletingaserviceperiodorachievingspecificperformanceconditionsduringthevestingperiod,theCompanyrecognizestheservicesreceivedduringthevestingperiodbasedonthebestestimateofthenumberofequityinstrumentsexpectedtovest,measuredatthefairvalueatthedateofgrant,withacorrespondingincreaseincapitalreservesateachbalancesheetdate.
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Ifthetermsofanequity-settledshare-basedpaymentaremodified,theCompanyrecognizes,ataminimum,theservicesreceivedasifthetermshadnotbeenmodified.Inaddition,anyincreaseinthefairvalueoftheequityinstrumentsresultingfromthemodification,oranymodificationthatbenefitstheemployeesasofthemodificationdate,isrecognizedasanadditionalcostoftheservicesacquired.
Ifanequity-settledshare-basedpaymentiscanceledduringthevestingperiod,theCompanyaccountsforthecancellationasanaccelerationofvesting,recognizingimmediatelytheamountthatwouldotherwisehavebeenrecognizedforservicesreceivedovertheremainderofthevestingperiod,withacorrespondingincreaseincapitalreserves.However,ifanewequityinstrumentisgrantedasareplacementforthecanceledequityinstrumentandisidentifiedasareplacementonthegrantdate,thereplacementequityinstrumentistreatedasamodificationoftheoriginalequityinstrument,andtheCompanyaccountsforitaccordingly.
2.Cash-settledshare-basedpayments
Forcash-settledshare-basedpayments,theliabilityismeasuredatthefairvalueoftheliabilityincurredbasedontheCompany’ssharesorotherequityinstruments.Fortransactionswheretheliabilityisvestedimmediatelyupongranting,theCompanyrecognizesthecostorexpenseatthegrantdate,measuredatthefairvalueoftheliability,withacorrespondingincreaseinliabilities.Fortransactionswheretheliabilityisvestedaftercompletingaserviceperiodorachievingspecificperformanceconditionsduringthevestingperiod,theCompanyrecognizestheservicesreceivedduringthevestingperiodbasedonthebestestimateofthevestedliability,measuredatthefairvalueoftheliability,withacorrespondingincreaseinliabilitiesateachbalancesheetdate.Thefairvalueoftheliabilityisremeasuredateachbalancesheetdateandonthesettlementdate,withanychangesrecognizedinprofitorlossinthecurrentperiod.
Ifthetermsandconditionsofacash-settledshare-basedpaymentaremodifiedtobecomeequity-settled,theCompanymeasurestheequity-settledshare-basedpaymentatthefairvalueoftheequityinstrumentsgrantedonthemodificationdate,regardlessofwhetherthemodificationoccursduringorafterthevestingperiod.TheCompanyrecognizestheservicesreceiveduptothemodificationdateascapitalreserves,whilederecognizingtheliabilityforthecash-settledshare-basedpaymentpreviouslyrecognizedonthemodificationdate.Thedifferencebetweenthetwoisrecognizedinprofitorlossinthecurrentperiod.Ifthevestingperiodextendsorshortensasaresultofthemodification,theCompanyaccountsforthetransactionovertherevisedvestingperiod.
33.Otherfinancialinstrumentssuchaspreferredsharesandperpetualbonds
□Applicable√N/A
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34.Revenue
(1)Disclosureofaccountingpoliciesusedforrevenuerecognitionandmeasurementbybusinesstype
√Applicable□N/A
1.AccountingpoliciesusedforrevenuerecognitionandmeasurementTheCompanyrecognizesrevenuewhenitfulfillsitsperformanceobligationsunderacontract,i.e.,whenthecustomerobtainscontroloftherelatedgoodsorservices.Thecustomerobtainscontroloftherelatedgoodsorserviceswhenitcandirecttheuseofandobtainsubstantiallyalltheeconomicbenefitsfromthegoodsorservices.
Ifacontractcontainstwoormoreperformanceobligations,theCompanyallocatesthetransactionpricetoeachperformanceobligationbasedontherelativestandalonesellingpricesofthegoodsorservicespromisedinthecontract.TheCompanymeasuresrevenuebasedonthetransactionpriceallocatedtoeachperformanceobligation.ThetransactionpriceistheamountofconsiderationtowhichtheCompanyexpectstobeentitledinexchangefortransferringgoodsorservicestoacustomer,excludingamountscollectedonbehalfofthirdpartiesandamountsexpectedtoberefundedtothecustomer.TheCompanydeterminesthetransactionpricebasedonthecontracttermsanditscustomarybusinesspractices,consideringfactorssuchasvariableconsideration,theexistenceofasignificantfinancingcomponentinthecontract,non-cashconsideration,andconsiderationpayabletothecustomer.TheCompanydeterminesthetransactionpriceincludingvariableconsiderationatanamountthatisnotexpectedtomateriallyreversecumulativerevenuerecognizedwhentheuncertaintyisresolved.Ifasignificantfinancingcomponentexistsinthecontract,theCompanydeterminesthetransactionpriceastheamountpayablebythecustomerincashatthepointintimewhenthecustomerobtainscontrolofthegoodsorservices,andthedifferencebetweenthetransactionpriceandthecontractconsiderationisamortizedoverthecontractperiodusingtheeffectiveinterestmethod.
Aperformanceobligationisfulfilledovertimeifoneofthefollowingconditionsismet;otherwise,itisfulfilledatapointintime:
?ThecustomersimultaneouslyreceivesandconsumesthebenefitsprovidedbytheCompany’sperformanceastheCompanyperforms.
?ThecustomercontrolstheassetastheCompanycreatesorenhancesit.
?TheassetbeingcreatedhasnoalternativeusetotheCompany,andtheCompanyhasanenforceablerighttopaymentforperformancecompletedtodate,cumulatively,throughoutthetermofthecontract.
Forperformanceobligationssatisfiedovertime,theCompanyrecognizesrevenuebasedontheprogresstowardcompletesatisfactionoftheperformanceobligationduringtheperiod,exceptwhenthe
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progresscannotbereasonablymeasured.TheCompanydeterminestheprogresstowardsatisfactionoftheperformanceobligationusinganoutputmethodoraninputmethod,dependingonthenatureofthegoodsorservices.Whenprogresscannotbereasonablymeasured,butcostsincurredareexpectedtoberecoverable,theCompanyrecognizesrevenuetotheextentofthecostsincurreduntilprogressisreasonablydeterminable.
Forperformanceobligationsfulfilledatapointintime,theCompanyrecognizesrevenuewhenthecustomerobtainscontroloftherelatedgoodsorservices.Indeterminingwhetheracustomerhasobtainedcontrolofthegoodsorservices,theCompanyconsidersthefollowingindicators:
?TheCompanyhasapresentrighttopaymentforthegoodsorservices,meaningthecustomerhasapresentobligationtopayforthegoodsorservices.
?TheCompanyhastransferredthelegaltitleofthegoodstothecustomer,meaningthecustomerhasobtainedlegalownershipofthegoods.
?TheCompanyhastransferredphysicalpossessionofthegoodstothecustomer,meaningthecustomerhastakenphysicalpossessionofthegoods.
?TheCompanyhastransferredthesignificantrisksandrewardsofownershipofthegoodstothecustomer,meaningthecustomerhasobtainedtheprimaryrisksandrewardsofownershipofthegoods.
?Thecustomerhasacceptedthegoodsorservices.
TheCompanydetermineswhetheritactsasaprincipaloranagentinatransactionbyassessingwhetheritcontrolsthegoodsorservicesbeforetransferringthemtothecustomer.IftheCompanycontrolsthegoodsorservicesbeforetransferringthemtothecustomer,itactsasaprincipalandrecognizesrevenuebasedonthegrossamountofconsiderationreceivedorreceivable.Otherwise,theCompanyactsasanagentandrecognizesrevenuebasedontheamountofcommissionorfeetowhichitexpectstobeentitled.
2.Disclosureofspecificrevenuerecognitionmethodsandmeasurementapproachesbybusinesstype
(1)Revenuefromthesaleofautomatedequipment
TheCompany’smainproductsareautomatedequipment.AftertheCompanysignsanequipmentsalescontractwithacustomer,theCompanydeliversthecompletedequipmenttothecustomerforacceptance.TheCompanyalsoarrangesforpersonneltoinstall,commission,andtesttheequipmentuntilitpassestrialoperation.Afterthecustomerconfirmsacceptanceontheproductacceptanceformandotherdocuments,theCompanyrecognizesthecorrespondingsalesrevenueandtransfersthecostoftheequipmentsoldandthecostoftheservicesprovided.
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(2)RevenuefromthesaleofsparepartsrelatedtoequipmentTheCompanyrecognizesrevenuefromthesaleofsparepartsrelatedtoequipmentwhenthegoodsaredeliveredtothecustomerandthecustomersignsthereceipt.
(3)RevenuefromequipmentmodificationservicesTheCompanyprovidesequipmentmodificationservices.RevenueisrecognizedbytheCompanyafterthemodificationandinstallationarecompletedandthecustomerconfirmsacceptanceonthemodificationprojectacceptanceformandotherdocuments.TheCompanyalsocarriesforwardthecostofmodificationmaterialsandthecostoftheservicesprovided.
(2)Differentrevenuerecognitionmethodsandmeasurementapproachesinvolvingdifferentoperatingmodelsforsimilarbusinessactivities
□Applicable√N/A
35.Contractcosts
□Applicable√N/A
36.Governmentgrants
√Applicable□N/A
1.Types
Governmentgrantsrefertothemonetaryornon-monetaryassetsthattheCompanyreceivesfromthegovernmentwithoutcompensation.Thesegrantsarecategorizedaseitherasset-relatedgovernmentgrantsorincome-relatedgovernmentgrants.
Asset-relatedgovernmentgrantsarethosethattheCompanyreceivestoacquire,construct,orotherwiseformlong-termassets.Income-relatedgovernmentgrantsrefertoallgovernmentgrantsotherthanthoserelatedtoassets.
Thespecificcriteriaforclassifyinggovernmentgrantsasasset-relatedareasfollows:Governmentgrantsusedtoconstructorotherwiseformlong-termassetsareclassifiedasasset-relatedgovernmentgrants.
Thespecificcriteriaforclassifyinggovernmentgrantsasincome-relatedareasfollows:Allgovernmentgrantsthatarenotasset-relatedareclassifiedasincome-relatedgovernmentgrants.
Forgovernmentgrantswherethegovernmentdocumentsdonotclearlyspecifythetarget,theCompanydetermineswhetherthegrantisasset-relatedorincome-relatedbasedonthefollowingjudgmentcriteria:
(1)Ifthegovernmentdocumentspecifiesaparticularprojectthatthegranttargets,theCompanyallocatesthegrantbasedontherelativeproportionofexpendituresthatwillformassetsversusthosethatwillbeexpensed.Thisallocationratioisreviewedateachbalancesheetdateandadjustedifnecessary.
(2)Ifthegovernmentdocumentonlygenerallystatesthepurposewithoutspecifyingaparticular
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project,thegrantisclassifiedasincome-related.
2.RecognitiontimingIncome-relatedgovernmentgrants:ForgovernmentgrantsobtainedbytheCompanybasedonafixedquota,theyaremeasuredatthereceivableamountandrecognizedwhentheCompanymeetstheattachedconditionsanditiscertainthatthegovernmentgrantwillbereceived.ForgovernmentgrantsnotobtainedbytheCompanybasedonafixedquota,theyarerecognizedwhentheCompanymeetstheattachedconditionsandactuallyreceivesthegovernmentgrantfunds.Asset-relatedgovernmentgrants:ThesearerecognizedwhentheCompanymeetstheattachedconditionsandactuallyreceivesthegovernmentgrantfunds.
3.AccountingtreatmentAsset-relatedgovernmentgrantsareeitherdeductedfromthecarryingvalueoftherelatedassetorrecognizedasdeferredincome.Ifrecognizedasdeferredincome,theamountissystematicallyamortizedintoprofitorlossovertheusefullifeoftherelatedassetusingareasonablemethod.IfthegrantisrelatedtotheCompany’snormalactivities,itisincludedinotherincome;ifunrelatedtotheCompany’snormalactivities,itisincludedinnon-operatingincome.
Ifthegrantisusedtocompensateforfuturecosts,expenses,orlossesoftheCompany,itisrecognizedasdeferredincomeandincludedinprofitorlossduringtheperiodinwhichtherelatedcosts,expenses,orlossesarerecognized.IfrelatedtotheCompany’snormalactivities,itisincludedinotherincome;ifunrelatedtotheCompany’snormalactivities,itisincludedinnon-operatingincomeorisusedtooffsettherelatedcosts,expenses,orlosses.Ifthegrantisusedtocompensateforcosts,expenses,orlossesalreadyincurredbytheCompany,itisdirectlyincludedintheprofitorlossinthecurrentperiod.IfrelatedtotheCompany’snormalactivities,itisincludedinotherincome;ifunrelatedtotheCompany’snormalactivities,itisincludedinnon-operatingincomeorisusedtooffsetagainsttherelatedcosts,expenses,orlosses.
37.Deferredincometaxassetsanddeferredincometaxliabilities
√Applicable□N/A
Incometaxincludescurrentincometaxanddeferredincometax.Exceptforincometaxarisingfrombusinesscombinationsandtransactionsoreventsdirectlyrecognizedinequity(includingothercomprehensiveincome),theCompanyrecognizescurrentincometaxanddeferredincometaxinprofitorlossfortheperiod.
Deferredincometaxassetsanddeferredincometaxliabilitiesarerecognizedbasedonthe
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differences(temporarydifferences)betweenthetaxbasesofassetsandliabilitiesandtheircarryingvalues.
Deferredincometaxassetsarerecognizedfordeductibletemporarydifferencestotheextentthatitisprobablethatfuturetaxableincomewillbeavailableagainstwhichthedeductibletemporarydifferencescanbeutilized.Deferredincometaxassetsarealsorecognizedfordeductiblelossesandtaxcreditsthatcanbecarriedforwardtofutureyears,totheextentthatitisprobablethatfuturetaxableincomewillbeavailableagainstwhichthesedeductiblelossesandtaxcreditscanbeutilized.Deferredincometaxliabilitiesarerecognizedfortaxabletemporarydifferences,exceptincertainspecificcircumstances.Specificcircumstanceswheredeferredincometaxassetsordeferredincometaxliabilitiesarenotrecognizedinclude:
?Theinitialrecognitionofgoodwill;?Transactionsoreventsthatarenotbusinesscombinationsand,atthetimeofthetransaction,donotaffectaccountingprofitortaxableincome(ordeductibleloss),anddonotresultintaxableordeductibletemporarydifferences.?Fortaxabletemporarydifferencesrelatedtoinvestmentsinsubsidiaries,associates,andjointventures,deferredincometaxliabilitiesarerecognized,exceptwhentheCompanycancontrolthetimingofthereversalofthetemporarydifferences,andprobably,thetemporarydifferenceswillnotreverseintheforeseeablefuture.Fordeductibletemporarydifferencesrelatedtoinvestmentsinsubsidiaries,associates,andjointventures,deferredincometaxassetsarerecognizedwhenthetemporarydifferenceswillprobablyreverseintheforeseeablefutureandsufficienttaxableincomewillbeavailabletoutilizethedeductibletemporarydifferences.
Atthebalancesheetdate,deferredincometaxassetsanddeferredincometaxliabilitiesaremeasuredatthetaxratesthatareexpectedtoapplyintheperiodwhentheassetisrealizedortheliabilityissettled,basedonthetaxlaws.
TheCompanyreviewsthecarryingvalueofdeferredincometaxassetsateachbalancesheetdate.Ifitisnolongerprobablethatsufficienttaxableincomewillbeavailabletoutilizethebenefitsofthedeferredincometaxassets,thecarryingvalueofthedeferredtaxassetsiswrittendownaccordingly.Thewrite-downsarereversedwhenitismorelikelythannotthatsufficienttaxableincomewillbeavailabletoallowthebenefitsofthedeferredtaxassetstobeutilized.
Whenthereisalegallyenforceablerighttooffsetcurrentincometaxassetsagainstcurrentincometaxliabilitiesandtheintentiontosettleonanetbasis,ortoacquiretheassetsandsettletheliabilitiessimultaneously,currentincometaxassetsandcurrentincometaxliabilitiesarepresentedonanetbasisafteroffsetting.
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Atthebalancesheetdate,deferredincometaxassetsanddeferredincometaxliabilitiesarepresentedonanetbasisafteroffsettingwhenthefollowingconditionsaresimultaneouslymet:
?Thetaxableentityhasalegalrighttosettlecurrentincometaxassetsagainstcurrentincometaxliabilities;?Thedeferredincometaxassetsanddeferredincometaxliabilitiesrelatetoincometaxesleviedbythesametaxationauthorityonthesametaxableentity,orondifferenttaxableentitiesthatintendtosettlecurrenttaxassetsandliabilitiesonanetbasis,ortorealizetheassetsandsettletheliabilitiessimultaneouslyineachfutureperiodwhenmaterialamountsofdeferredincometaxassetsorliabilitiesareexpectedtoreverse.
38.Leases
√Applicable□N/ASimplifiedtreatmentforshort-termleasesandlow-valueassetleasesasalessee:judgmentcriteriaandaccountingtreatment
√Applicable□N/A
(1)Right-of-useassets
Atthecommencementdateofthelease,theCompanyrecognizesright-of-useassetsforleasesotherthanshort-termleasesandlow-valueassetleases.Right-of-useassetsareinitiallymeasuredatcost.Thecostincludes:
?Theinitialmeasurementamountoftheleaseliability;
?Leasepaymentsmadeonorbeforethecommencementdate,lessanyleaseincentives
received;
?InitialdirectcostsincurredbytheCompany;
?CostsexpectedtobeincurredbytheCompanyfordismantlingandremovingtheleasedasset,
rehabilitatingthesiteonwhichtheassetislocated,orrestoringtheleasedassettotheconditionrequiredbytheleaseterms,excludingcostsincurredtoproduceinventory.
TheCompanysubsequentlydepreciatestheright-of-useassetsusingastraight-linemethodovertheleaseterm.Iftheownershipoftheleasedassetcanbereasonablydeterminedbytheendoftheleaseterm,theright-of-useassetisdepreciatedovertheremainingusefullifeoftheleasedasset;otherwise,theleasedassetisdepreciatedovertheshorteroftheleasetermortheremainingusefullifeoftheleasedasset.
TheCompanydetermineswhethertheright-of-useassethasbeenimpairedbytheprinciplessetforthin“27.Impairmentoflong-termassets”andaccountsforanyidentifiedimpairmentlossesaccordingly.
(2)Leaseliabilities
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Atthecommencementdateofthelease,theCompanyrecognizesleaseliabilitiesforleasesotherthanshort-termleasesandlow-valueassetleases.Leaseliabilitiesareinitiallymeasuredatthepresentvalueoftheleasepaymentsthathavenotyetbeenpaid.Leasepaymentsinclude:
?Fixedpayments(includingin-substancefixedpayments),netofamountsrelatedtoanylease
incentives;
?Variableleasepaymentsthatdependonanindexorrate;
?Amountsexpectedtobepayableunderresidualvalueguarantees;
?Theexercisepriceofapurchaseoption,iftheCompanyisreasonablycertaintoexercisethat
option;
?Paymentsforterminatingtheleaseprovidedtheleasetermreflectstheexerciseofa
terminationoption.
TheCompanyusestheinterestrateimplicitintheleaseasthediscountrate,orifthatratecannotbereadilydetermined,theCompanyusesitsincrementalborrowingrateasthediscountrate.
TheCompanycalculatestheinterestexpenseontheleaseliabilityovertheleasetermatafixedperiodicrateofinterestandrecognizesitinprofitorlossoraspartofthecostoftherelatedasset.
Variableleasepaymentsnotincludedinthemeasurementoftheleaseliabilityarerecognizedinprofitorlossoraspartofthecostoftherelatedassetintheperiodinwhichtheeventorconditionthattriggersthosepaymentsoccurs.
Afterthecommencementdateofthelease,theCompanyremeasurestheleaseliabilityandadjuststhecorrespondingright-of-useassetunderthefollowingcircumstances.Ifthecarryingvalueoftheright-of-useassethasbeenreducedtozeroandafurtherreductionintheleaseliabilityisrequired,thedifferenceisrecognizedinprofitorlossinthecurrentperiod:
?Whenthereisachangeintheassessmentofapurchaseoption,renewaloption,orterminationoption,orwhentheactualexerciseofsuchanoptiondiffersfromthepreviousassessment,theCompanyremeasurestheleaseliabilitybasedonthepresentvalueoftherevisedleasepaymentsusingthereviseddiscountrate.
?Whenthereisachangeintheamountofin-substancefixedpayments,theexpectedamount
payableunderaresidualvalueguarantee,ortheindexorrateusedtodetermineleasepayments,theCompanyremeasurestheleaseliabilityatthepresentvalueoftherevisedleasepaymentsusingtheoriginaldiscountrate.However,ifthechangeinleasepaymentsresultsfromachangeinafloatinginterestrate,thepresentvalueiscalculatedbasedonthereviseddiscountrate.
(3)Short-termleasesandlow-valueassetleases
TheCompanyelectsnottorecognizeright-of-useassetsandleaseliabilitiesforshort-termleases
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andlow-valueassetleases.Instead,therelatedleasepaymentsarerecognizedinprofitorlossoraspartofthecostoftherelatedassetonastraight-linebasisovertheleaseterm.Ashort-termleaseisdefinedasaleasethat,atthecommencementdate,hasaleasetermof12monthsorlessanddoesnotcontainapurchaseoption.Alow-valueassetleasereferstoaleasewherethevalueoftheunderlyingassetislowwhenitisnew.IftheCompanysubleasesorexpectstosubleasetheleasedasset,theoriginalleasedoesnotqualifyasalow-valueassetlease.
(4)LeasemodificationsIfaleasemodificationmeetsbothofthefollowingconditions,theCompanyaccountsfortheleasemodificationasaseparatelease:
?Theleasemodificationincreasesthescopeoftheleasebyaddingtherighttouseoneormore
underlyingassets;?Theincreasedconsiderationfortheleasemodificationiscomparabletothestandaloneprice
fortheincreaseinscopeadjustedtoreflectthecircumstancesofthecontract.Ifaleasemodificationisnotaccountedforasaseparatelease,theCompanyreallocatestheconsiderationinthemodifiedcontract,reassessestheleaseterm,andremeasurestheleaseliabilityatthepresentvalueoftherevisedleasepaymentsusingareviseddiscountrateasoftheeffectivedateofthemodification.Iftheleasemodificationresultsinareductioninthescopeoftheleaseorashorteningoftheleaseterm,theCompanyreducesthecarryingvalueoftheright-of-useassetandrecognizesanygainorlossrelatedtothepartialorfullterminationoftheleaseinprofitorlossinthecurrentperiod.Forotherleasemodificationsthatresultintheremeasurementoftheleaseliability,theCompanyadjuststhecarryingvalueoftheright-of-useassetaccordingly.Criteriaforleaseclassificationandaccountingtreatmentasalessor
√Applicable□N/AAtthecommencementdateofthelease,theCompanyclassifiesleasesaseitherfinanceleasesoroperatingleases.Afinanceleasereferstoaleasethattransferssubstantiallyalltherisksandrewardsincidentaltoownershipoftheleasedasset,regardlessofwhetherthetitleiseventuallytransferred.Anoperatingleasereferstoaleaseotherthanafinancelease.WhentheCompanyactsasanintermediatelessor,theclassificationofasubleaseisbasedontheright-of-useassetarisingfromtheoriginallease.
(1)AccountingtreatmentforoperatingleasesLeasepaymentsreceivedunderoperatingleasesarerecognizedasleaseincomeonastraight-linebasisovertheleaseterm.InitialdirectcostsincurredbytheCompanyrelatedtooperatingleasesarecapitalizedandapportionedtoprofitorlossonthesamebasisastheleaseincome.Variablelease
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paymentsnotincludedintheleasereceiptsarerecognizedinprofitorlosswhentheyoccur.Whenanoperatingleaseismodified,theCompanyaccountsforitasanewleasefromtheeffectivedateofthemodification.Leasereceiptsoramountsreceivablerelatedtotheleasebeforethemodificationareregardedasreceiptsunderthenewlease.
(2)AccountingtreatmentforfinanceleasesAtthecommencementdateofafinancelease,theCompanyrecognizesfinanceleasereceivablesandderecognizestheleasedasset.Wheninitiallymeasuringfinanceleasereceivables,theCompanyrecordsthematthenetinvestmentinthelease.Thenetinvestmentintheleaseisthesumofthepresentvalueoftheleasepaymentsnotyetreceivedandtheunguaranteedresidualvalueatthecommencementdateoftheleaseterm,discountedattheinterestrateimplicitinthelease.
TheCompanycalculatesandrecognizesinterestincomeovertheleasetermusingaconstantperiodicrateofreturnonthenetinvestmentinthelease.Thederecognitionandimpairmentoffinanceleasereceivablesareaccountedforinaccordancewiththeprinciplesoutlinedin“11.Financialinstruments”underthesubsection“V.SignificantAccountingPoliciesandAccountingEstimates.”Variableleasepaymentsnotincludedinthemeasurementofthenetinvestmentintheleasearerecognizedinprofitorlossintheperiodwhentheyoccur.
Ifafinanceleasemodificationmeetsbothofthefollowingconditions,theCompanyregardsthemodificationasaseparatelease:
?Themodificationincreasesthescopeoftheleasebyaddingtherighttouseoneormoreunderlyingassets;
?Theconsiderationfortheleasemodificationisequivalenttothestandalonepriceforthe
increaseinscopeadjustedtoreflectthecircumstancesofthecontract.
Ifafinanceleasemodificationisnotaccountedforasaseparatelease,theCompanyhandlesthemodifiedleaseasfollows:
?Iftheleasewouldhavebeeneffectiveandclassifiedasanoperatingleaseatthecommencementdatebasedonthemodifiedterms,theCompanyaccountsfortheleaseasanewleasefromtheeffectivedateofthemodification,usingthenetinvestmentintheleaseasthecarryingvalueoftheleasedassetasofthemodificationdate.
?Iftheleasewouldhavebeeneffectiveandclassifiedasafinanceleaseatthecommencementdatebasedonthemodifiedterms,theCompanyappliestheaccountingpoliciesforcontractmodificationsasdescribedin“11.Financialinstruments”underthesubsection“V.SignificantAccountingPoliciesandAccountingEstimates.”
Saleandleasebacktransactions
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TheCompanyevaluateswhetherthetransferofanassetinasaleandleasebacktransactionqualifiesasasalebasedontheprinciplesoutlinedin“34.Revenue”inthesenotes.
(1)Asalessee
Ifthetransferofanassetinasaleandleasebacktransactionqualifiesasasale,theCompany,asthelessee,measurestheright-of-useassetarisingfromtheleasebackattheproportionofthepreviouscarryingvalueoftheassetthatrelatestotherightofuseretainedbytheCompany.TheCompanyrecognizesonlythegainorlossrelatedtotherightstransferredtothelessor.
Ifthetransferofanassetinasaleandleasebacktransactiondoesnotqualifyasasale,theCompany,asthelessee,continuestorecognizethetransferredassetandrecognizesafinancialliabilityequaltothetransferproceeds.Theaccountingforthefinancialliabilityisdetailedin“11.Financialinstruments”underthesubsection“V.SignificantAccountingPoliciesandAccountingEstimates.”
(2)Asalessor
Ifthetransferofanassetinasaleandleasebacktransactionqualifiesasasale,theCompany,asthelessor,accountsfortheassetpurchaseinaccordancewiththepoliciesdescribedin“2.TheCompanyasalessor”andaccountsfortheleasebackinaccordancewiththeleaseclassificationcriteriaandaccountingtreatmentforleases.Ifthetransferofanassetinasaleandleasebacktransactiondoesnotqualifyasasale,theCompany,asthelessor,doesnotrecognizethetransferredassetbutinsteadrecognizesafinancialassetequaltothetransferproceeds.Theaccountingforthefinancialassetisdetailedin“11.Financialinstruments”underthesubsection“V.SignificantAccountingPoliciesandAccountingEstimates.”
39.Othersignificantaccountingpoliciesandaccountingestimates
√Applicable□N/ARepurchaseoftheCompany’sownshares:
WhentheCompanyrepurchasesitsownshares,whetherforreducingregisteredcapitalorforemployeeincentives,theamountactuallypaidforthesharesareaccountedforastreasurystockandrecordedinamemorandumaccount.Iftherepurchasedsharesaresubsequentlycanceled,thedifferencebetweenthetotalparvalueofthesharescanceled(basedonthenumberofsharesandtheirparvalue)andtheactualrepurchasepaymentisdeductedfromthecapitalreserve.Ifthecapitalreserveisinsufficienttooffsetthedifference,theremainingamountisdeductedfromretainedearnings.Iftherepurchasedsharesaregrantedtoemployeesaspartofanequity-settledshare-basedpaymentarrangement,thecostofthetreasurysharesdeliveredtotheemployeesandtheaccumulatedamountinthecapitalreserve(othercapitalreserves)duringthevestingperiodarederecognizedupontheemployeesexercisingtheirrightstopurchasetheshares.Thedifferenceisadjustedinthecapitalreserve
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(sharepremium).Debtrestructuring
TheCompanyasacreditorTheCompanyderecognizesareceivablewhenthecontractualrightstothecashflowsfromthereceivableexpire.Fordebtrestructuringinvolvingthesettlementofdebtthroughthetransferofassetsorconversionofdebtintoequityinstruments,theCompanyrecognizestherelevantassetswhentheymeetthedefinitionandrecognitioncriteria.Fordebtrestructuringintheformofsettlementofdebtthroughthetransferofnon-financialassets,theCompanyinitiallymeasurestheacquirednon-financialassetatcost.Thecostofinventoryincludesthefairvalueoftherelinquishedreceivableandanyotherdirectlyattributablecostssuchastaxes,transportationfees,loadingandunloadingfees,andinsurancecostsincurredtobringtheassettoitspresentlocationandcondition.Thecostofinvestmentsinassociatesorjointventuresincludesthefairvalueoftherelinquishedreceivableandanyotherdirectlyattributablecostssuchastaxes.Thecostofinvestmentpropertyincludesthefairvalueoftherelinquishedreceivableandanyotherdirectlyattributablecostssuchastaxes.Thecostoffixedassetsincludesthefairvalueoftherelinquishedreceivableandanydirectlyattributablecostssuchastaxes,transportationfees,loadingandunloadingfees,installationfees,andprofessionalservicefeesincurredbeforetheassetisbroughttoitsintendeduse.Thecostofbiologicalassetsincludesthefairvalueoftherelinquishedreceivableandanydirectlyattributablecostsincludingtaxes,transportationfees,andinsurancecosts.Thecostofintangibleassetsincludesthefairvalueoftherelinquishedreceivableandanydirectlyattributablecostssuchastaxesincurredtobringtheassettoitsintendeduse.Fordebtrestructuringinvolvingtheconversionofdebtintoequityinstruments,wherethecreditorconvertsthedebtintoaninvestmentinanassociateorjointventure,theCompanymeasurestheinitialinvestmentcostbasedonthefairvalueoftherelinquishedreceivableandanydirectlyattributablecostssuchastaxes.Thedifferencebetweenthefairvalueoftherelinquishedreceivableanditscarryingvalueisrecognizedinprofitorlossinthecurrentperiod.
Fordebtrestructuringinvolvingthemodificationofotherterms,theCompanyrecognizesandmeasurestherestructuredreceivableundertheprinciplessetoutin“11.Financialinstruments”underthesubsection“V.SignificantAccountingPoliciesandAccountingEstimates.”
Fordebtrestructuringinvolvingthesettlementofdebtthroughthetransferofmultipleassetsoracombinationofmethods,theCompanyfirstrecognizesandmeasurestheacquiredfinancialassetsandrestructuredreceivablesunder“11.Financialinstruments”underthesubsection“V.SignificantAccountingPoliciesandAccountingEstimates.”Then,theCompanyallocatesthenetamountofthefairvalueoftherelinquishedreceivable,afterdeductingtheamountsrecognizedfortheacquiredfinancial
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assetsandrestructuredreceivables,basedontheproportionatefairvaluesoftheotheracquiredassets,anddeterminesthecostsoftheseassetsusingtheaforementionedmethods.Thedifferencebetweenthefairvalueoftherelinquishedreceivableanditscarryingvalueisrecognizedinprofitorlossinthecurrentperiod.
TheCompanyasadebtorTheCompanyderecognizesaliabilitywhenthepresentobligationfortheliabilityisdischarged.Fordebtrestructuringintheformofthesettlementofdebtthroughthetransferofassets,theCompanyderecognizestheliabilitywhenthetransferredassetsandtheextinguisheddebtmeetthederecognitioncriteria.Thedifferencebetweenthecarryingvalueoftheextinguisheddebtandthecarryingvalueofthetransferredassetsisrecognizedinprofitorlossinthecurrentperiod.
Fordebtrestructuringintheformoftheconversionofdebtintoequityinstruments,theCompanyderecognizestheliabilitywhentheextinguisheddebtmeetsthederecognitioncriteria.TheCompanymeasurestheinitialrecognitionoftheequityinstrumentsattheirfairvalue.Ifthefairvalueoftheequityinstrumentscannotbereliablymeasured,theCompanymeasuresthematthefairvalueoftheextinguisheddebt.Thedifferencebetweenthecarryingvalueoftheextinguisheddebtandtherecognizedamountoftheequityinstrumentsisrecognizedinprofitorlossinthecurrentperiod.
Fordebtrestructuringintheformofthemodificationofotherterms,theCompanyrecognizesandmeasurestherestructureddebtinaccordancewiththeprinciplessetoutin“11.Financialinstruments”underthesubsection“V.SignificantAccountingPoliciesandAccountingEstimates.”
Fordebtrestructuringintheformofthesettlementofdebtthroughthetransferofmultipleassetsoracombinationofmethods,theCompanyrecognizesandmeasurestheequityinstrumentsandrestructureddebtfollowingthemethodsdescribedabove.Thedifferencebetweenthecarryingvalueoftheextinguisheddebtandthecarryingvalueofthetransferredassets,alongwiththerecognizedamountsoftheequityinstrumentsandrestructureddebt,isrecognizedinprofitorlossinthecurrentperiod.
40.Changesinsignificantaccountingpoliciesandaccountingestimates
(1)Changesinsignificantaccountingpolicies
□Applicable√N/A
(2)Changesinsignificantaccountingestimates
□Applicable√N/A
(3)Adjustmentofthefinancialstatementsatthebeginningoftheyearofinitialimplementationofnewaccountingstandardsorinterpretationsin2024
□Applicable√N/A
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41.Others
□Applicable√N/A
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Taxes
1.MajortaxcategoriesandtaxratesMajortaxcategoriesandtaxrates
√Applicable□N/A
| Category | Taxbase | Taxrate |
| Valueaddedtax(VAT) | Theoutputtaxiscalculatedbasedonthesalesofgoodsandtaxableserviceincomecalculatedaccordingtotaxlaws.Afterdeductingtheinputtaxthatcanbedeductedinthecurrentperiod,thedifferenceisthepayablevalue-addedtax. | 5.00%,6.00%,9.00%,13.00% |
| Urbanmaintenanceandconstructiontax | Itiscalculatedandpaidbasedontheactualvalue-addedtaxandconsumptiontaxpaid. | 7.00% |
| Corporateincometax | Itiscalculatedandpaidbasedontaxableincome | 15.00%,17.00%,20.00%,23.20%,24%,25.00% |
| Educationalsurcharge | Itiscalculatedandpaidbasedontheactualvalue-addedtaxandconsumptiontaxpaid. | 3.00% |
| Localeducationalsurcharge | Itiscalculatedandpaidbasedontheactualvalue-addedtaxandconsumptiontaxpaid | 2.00% |
√Applicable□N/A
| Taxableentity | Incometaxrate(%) |
| WuxiAutowellTechnologyCo.,Ltd. | 15.00 |
| WuxiAutowellIntelligentEquipmentCo.,Ltd. | 15.00 |
| WuxiAutowellOpticalApplicationCo.,Ltd. | 25.00 |
| WuxiAutowellSupplyChainManagementCo.,Ltd. | 25.00 |
| WuxiSongciElectromechanicalCo.,Ltd. | 15.00 |
| WuxiAutowellXuRiTechnologyCo.,Ltd. | 15.00 |
| WuxiAutowellCoshinSemiconductorTechnologyCo.,Ltd. | 25.00 |
| WuxiAutowellZhiyuanEquipmentCo.,Ltd. | 25.00 |
| QinhuangdaoAutowellZhiyuanEquipmentCo.,Ltd. | 20.00 |
| WuxiLeddoTechnologyCo.,Ltd. | 20.00 |
| WuxiAutowellJiexinTechnologyCo.,Ltd. | 20.00 |
| AUTOWELLJapanCorporation. | 23.20 |
| Autowell(Singapore)PTE.LTD. | 17.00 |
| WuxiPolarNewEnegryCo.,Ltd. | 20.00 |
| AUTOWELL(MALAYSIA)SDN.BHD. | 24.00 |
| PolarNewEnegry(Bengbu)Co.,Ltd. | 15.00 |
| WuhuPolarPhotovoltaicPowerGenerationCo.,Ltd. | 25.00 |
| BeijingLinkongPolarEnergyManagementCo.,Ltd. | 20.00 |
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| PolarNewEnegry(Foshan)Co.,Ltd. | 20.00 |
| ZhengzhouPolarNewEnegryCo.,Ltd. | 20.00 |
| AnhuiHengzhiCopper-Indium-Gallium-SeleniumTechnologyCo.,Ltd. | 15.00 |
2.Taxincentives
√Applicable□N/AAccordingtotheNoticeoftheMinistryofFinanceandtheStateAdministrationofTaxationonVATPoliciesforSoftwareProducts(CS[2011]No.100),generaltaxpayerswhoselltheirself-developedsoftwareproductsshallbesubjecttoanimmediaterefundpolicyforanyportionoftheiractualVATliabilityexceeding3%afterbeingleviedatthetimeofdeclaration.ThesoftwareproductsasmentionedinthisNoticerefertoinformationprocessingprogramsandrelateddocumentsanddata,includingcomputersoftwareproducts,informationsystems,andembeddedsoftwareproducts.Embeddedsoftwareproductsrefertothesoftwareproductsthatareembeddedincomputerhardwareandmachineryequipment,soldtogetherwiththem,andformpartofthecomputerhardwareormachineryequipment.TheembeddedsoftwareproductsproducedbytheCompanyalignwiththeabovetaxincentivepolicy.TheCompanyhasobtainedanoticeofqualificationfortaxincentivesissuedbyWuxiMunicipalTaxService,StateTaxationAdministration,andthetaxincentivepolicyhastakeneffectsinceJanuary1,2011.AccordingtotheAnnouncementonFilingfortheSecondBatchofHigh-techEnterprisesIdentifiedinJiangsuProvincein2021issuedbytheNationalLeadingGroupOfficefortheAdministrationofHigh-techEnterpriseIdentification,WuxiAutowellTechnologyCo.,Ltd.wasreviewedandapprovedasahigh-techenterprisein2021andobtainedacertificateofhigh-techenterpriseonNovember30,2021withthecertificatenumberofGR202132005383.Thequalificationisvalidforthreeyears,anditscorporateincometaxwouldbecalculatedatareducedrateof15%from2021to2023accordingtotaxprovisions.AccordingtotheAnnouncementonFilingfortheThirdBatchofHigh-techEnterprisesIdentifiedinJiangsuProvincein2022issuedbytheNationalLeadingGroupOfficefortheAdministrationofHigh-techEnterpriseIdentification,WuxiAutowellIntelligentEquipmentCo.,Ltd.wasreviewedandapprovedasahigh-techenterprisein2022andobtainedacertificateofhigh-techenterpriseonNovember18,2022withthecertificatenumberofGR202232009007.Thequalificationisvalidforthreeyears,anditscorporateincometaxisreducedby15%from2022to2024accordingtotaxprovisions.AccordingtotheAnnouncementonFilingfortheSecondBatchofHigh-techEnterprisesIdentifiedinJiangsuProvincein2023issuedbytheNationalLeadingGroupOfficefortheAdministrationof
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High-techEnterpriseIdentification,WuxiSongciElectromechanicalCo.,Ltd.wasreviewedandapprovedasahigh-techenterprisein2023,withthecertificatenumberofGR202332000273.Thequalificationisvalidforthreeyears,anditscorporateincometaxisreducedby15%from2023to2025accordingtotaxprovisions.AccordingtotheAnnouncementonFilingfortheFirstBatchofHigh-techEnterprisesIdentifiedinAnhuiProvincein2022issuedbytheNationalLeadingGroupOfficefortheAdministrationofHigh-techEnterpriseIdentification,PolarPhotovoltaics(Bengbu)Co.,Ltd.wasreviewedandapprovedasahigh-techenterprisein2022andobtainedacertificateofhigh-techenterpriseonOctober18,2022withthecertificatenumberofGR202234000834.Thequalificationisvalidforthreeyears,anditscorporateincometaxisreducedat15%from2022to2024accordingtotaxprovisions.AccordingtotheAnnouncementonFilingforHigh-techEnterprisesIdentifiedinAnhuiProvinceattheendof2022issuedbytheNationalLeadingGroupOfficefortheAdministrationofHigh-techEnterpriseIdentification,AnhuiHengzhiCopper-Indium-Gallium-SeleniumTechnologyCo.,Ltd.reviewedandapprovedasahigh-techenterprisein2022andobtainedacertificateofhigh-techenterpriseonOctober18,2022withthecertificatenumberofGR202234003486.Thequalificationisvalidforthreeyears,anditscorporateincometaxisreducedby15%from2022to2024accordingtotaxprovisions.AccordingtotheAnnouncementoftheMinistryofFinanceandtheStateAdministrationofTaxationonFurtherImplementingPreferentialPoliciesforIncomeTaxesofSmallandMicroEnterprises(AnnouncementNo.13,2022bytheMinistryofFinanceandtheStateAdministrationofTaxation),forsmalllow-profitenterpriseswithannualtaxableincomeexceedingRMB1millionbutnomorethanRMB3millionfromJanuary1,2022toDecember31,2024,theportionshallbeincludedinthetaxableincomeatareducedrateof25%,andtheircorporateincometaxshallbepaidatarateof20%.AccordingtotheAnnouncementoftheMinistryofFinanceandtheStateAdministrationofTaxationonPreferentialPoliciesforIncomeTaxesofSmallandMicroEnterprisesandIndividualBusinesses(AnnouncementNo.6,2023bytheMinistryofFinanceandtheStateAdministrationofTaxation),forsmalllow-profitenterpriseswithannualtaxableincomeofnomorethanRMB1millionfromJanuary1,2023toDecember31,2024,theportionshallbeincludedinthetaxableincomeatareducedrateof25%,andtheircorporateincometaxshallbepaidatarateof20%.ThesubsidiariesoftheCompany,includingWuxiAutowellZhiyuanEquipmentCo.,Ltd.,QinhuangdaoAutowellZhiyuanEquipmentCo.,Ltd.,WuxiLeddoTechnologyCo.,Ltd.,WuxiAutowellJiexinTechnologyCo.,Ltd.,WuxiPolarNewEnegryCo.,Ltd.,BeijingLinkongPolar
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EnergyManagementCo.,Ltd.,PolarNewEnegry(Foshan)Co.,Ltd.andZhengzhouPolarNewEnegryCo.,Ltd.,areeligibleforthepreferentialpoliciesforsmalllow-profitenterprisesin2023.FortheportionwithanannualtaxableincomenotexceedingRMB1million,itisincludedinthetaxableincomeatareducedrateof25%,andcorporateincometaxispaidattherateof20%;fortheportionwithanannualtaxableincomeexceedingRMB1millionbutnomorethanRMB3million,itisincludedinthetaxableincomeatareducedrateof25%,andcorporateincometaxispaidattherateof20%.
3.Others
□Applicable√N/AVII.NotestotheConsolidatedFinancialStatements
1.Monetaryfunds
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Closingbalance | Openingbalance |
| Cashonhand | 394,157.19 | 387,917.07 |
| Cashinbanks | 1,681,161,568.26 | 1,516,171,305.90 |
| Othermonetaryfunds | 304,596,281.75 | 315,349,536.05 |
| Depositsduefromfinancialcompanies | - | - |
| Total | 1,986,152,007.20 | 1,831,908,759.02 |
| Ofwhich:Totalamountduefromoverseasinstitutions | 13,192,742.88 | 2,348,432.99 |
OthernotesOthermonetaryfunditems:
| Item | Closingbalance | Closingbalanceoflastyear |
| Marginonbankacceptancebill | 292,606,828.41 | 260,008,526.56 |
| Cashforinvestment | - | 4,202,747.96 |
| Performancebond | 8,334,747.34 | 51,138,261.53 |
| Frozenfund | 3,654,706.00 | |
| Total | 304,596,281.75 | 315,349,536.05 |
2.Tradingfinancialassets
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Closingbalance | Openingbalance | Specifiedreasonsandbasis |
| Financialassetsatfairvaluethroughprofitorloss | / | ||
| Ofwhich: | |||
| Designatedfinancialassets | 220,055,388.89 | 1,013,130,849.65 | |
/
| measuredatfairvaluethroughprofitorlossinthecurrentperiod | |||
| Ofwhich: | |||
| Total | 220,055,388.89 | 1,013,130,849.65 | / |
Othernotes:
□Applicable√N/A
3.Derivativefinancialassets
□Applicable√N/A
4.Notesreceivable
(1)Classificationofnotesreceivable
□Applicable√N/A
(2)NotesreceivablepledgedbytheCompanyattheendoftheperiod
□Applicable√N/A
(3)NotesreceivablenotyetmaturedonthebalancesheetdatethathavebeenendorsedordiscountedbytheCompanyattheendoftheperiod
□Applicable√N/A
(4)Disclosurebybaddebtprovisionmethod
□Applicable√N/AProvisionforbaddebtsbasedonindividualitem:
□Applicable√N/AProvisionforbaddebtsbasedonthecombinationofitems:
□Applicable√N/AProvisionforbaddebtsbasedonthegeneralmodelofexpectedcreditlosses
□Applicable√N/ABasisforclassificationatdifferentphasesandprovisionratioforbaddebtsN/ANotestosignificantchangesinthecarryingamountofaccountsreceivablewithchangesinlossprovisionsinthecurrentperiod:
□Applicable√N/A
(5)Provisionforbaddebts
□Applicable√N/AOfwhich,significantamountofprovisionforbaddebtsrecoveredorreversedinthecurrentperiod:
□Applicable√N/AOthernotes:
N/A
(6)Notesreceivableactuallywrittenoffinthecurrentperiod
□Applicable√N/A
/
Ofwhich,significantnotesreceivablewrittenoff:
□Applicable√N/ANotestothewrite-offofnotesreceivable:
□Applicable√N/AOthernotes:
□Applicable√N/A
5.Accountsreceivable
(1)Disclosurebyaging
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Aging | Closingbalance | Openingbalance |
| Within1year | ||
| Ofwhich:sub-itemswithin1year | ||
| 2,170,091,311.00 | 1,583,764,305.97 | |
| Subtotalofaccountswithin1year | 2,170,091,311.00 | 1,583,764,305.97 |
| 1to2years | 203,849,637.91 | 150,428,366.49 |
| 2to3years | 67,006,098.16 | 41,321,786.08 |
| Over3years | 67,659,804.98 | 48,078,490.10 |
| Less:Provisionforbaddebts | 311,581,374.62 | 231,837,233.27 |
| Total | 2,197,025,477.43 | 1,591,755,715.37 |
(2)Disclosurebybaddebtprovisionmethod
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Type | Closingbalance | Openingbalance | ||||||||
| Carryingamount | Provisionforbaddebts | Carryingvalue | Carryingamount | Provisionforbaddebts | Carryingvalue | |||||
| Amount | Ratio(%) | Amount | Provisionratio(%) | Amount | Ratio(%) | Amount | Provisionratio(%) | |||
| Provisionforbaddebtsbasedonindividualitems | 132,740,164.67 | 5.29 | 132,740,164.67 | 100.00 | - | 100,049,103.70 | 5.49 | 100,049,103.70 | 100.00 | - |
| Ofwhich: | ||||||||||
| Provisionforbaddebtsbasedonindividualitems | 132,740,164.67 | 5.29 | 132,740,164.67 | 100.00 | - | 100,049,103.70 | 5.49 | 100,049,103.70 | 100.00 | - |
Provisionforbaddebtsbasedonthecombinationofitems
| Provisionforbaddebtsbasedonthecombinationofitems | 2,375,866,687.38 | 94.71 | 178,841,209.95 | 7.53 | 2,197,025,477.43 | 1,723,543,844.94 | 94.51 | 131,788,129.57 | 7.65 | 1,591,755,715.37 |
| Ofwhich: | ||||||||||
| Provisionforbaddebtsbasedonthecombinationofcreditriskcharacteristics | 2,375,866,687.38 | 94.71 | 178,841,209.95 | 7.53 | 2,197,025,477.43 | 1,723,543,844.94 | 94.51 | 131,788,129.57 | 7.65 | 1,591,755,715.37 |
Total
| Total | 2,508,606,852.05 | / | 311,581,374.62 | / | 2,197,025,477.43 | 1,823,592,948.64 | / | 231,837,233.27 | / | 1,591,755,715.37 |
/
Provisionforbaddebtsbasedonindividualitems:
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Name | Closingbalance | |||
| Carryingamount | Provisionforbaddebts | Provisionratio(%) | Provisionreasons | |
| Customer1 | 761,966.00 | 761,966.00 | 100.00 | Onthevergeofbankruptcy |
| Customer2 | 405,369.80 | 405,369.80 | 100.00 | Bankruptcy |
| Customer3 | 762,559.59 | 762,559.59 | 100.00 | Difficultyinpaymentcollection |
| Customer4 | 135,750.00 | 135,750.00 | 100.00 | Difficultyinpaymentcollection |
| Customer5 | 200,000.00 | 200,000.00 | 100.00 | Underprosecution |
| Customer6 | 790,959.00 | 790,959.00 | 100.00 | Underprosecution |
| Customer7 | 3,113,451.05 | 3,113,451.05 | 100.00 | Bankruptcy |
| Customer8 | 6,009,191.50 | 6,009,191.50 | 100.00 | Bankruptcy |
| Customer9 | 816,760.00 | 816,760.00 | 100.00 | Bankruptcy |
| Customer10 | 1,979,760.13 | 1,979,760.13 | 100.00 | Underprosecution |
| Customer11 | 17,987,500.00 | 17,987,500.00 | 100.00 | Bankruptcy |
| Customer12 | 1,572,512.86 | 1,572,512.86 | 100.00 | Underprosecution |
| Customer13 | 737.82 | 737.82 | 100.00 | Difficultyinpaymentcollection |
| Customer14 | 1,111,894.00 | 1,111,894.00 | 100.00 | Difficultyinpaymentcollection |
| ustomer15 | 602,000.00 | 602,000.00 | 100.00 | Difficultyinpaymentcollection |
| Customer16 | 2,273,337.06 | 2,273,337.06 | 100.00 | Bankruptcy |
| Customer17 | 1,592,000.00 | 1,592,000.00 | 100.00 | Difficultyinpaymentcollection |
| Customer18 | 1,112,000.00 | 1,112,000.00 | 100.00 | Bankruptcy |
| Customer19 | 2,514,000.00 | 2,514,000.00 | 100.00 | Underprosecution |
| Customer20 | 670,828.99 | 670,828.99 | 100.00 | Underprosecution |
| Customer21 | 15,119,600.27 | 15,119,600.27 | 100.00 | Difficultyinpaymentcollection |
| Customer22 | 5,022,400.00 | 5,022,400.00 | 100.00 | Underprosecution |
| Customer23 | 9,590,631.73 | 9,590,631.73 | 100.00 | Bankruptcy |
| Customer24 | 15,500.00 | 15,500.00 | 100.00 | Difficultyinpaymentcollection |
| Customer25 | 1,018,267.50 | 1,018,267.50 | 100.00 | Difficultyinpaymentcollection |
| Customer26 | 1,827,230.76 | 1,827,230.76 | 100.00 | Underprosecution |
| Customer27 | 640,000.00 | 640,000.00 | 100.00 | Underprosecution |
| Customer28 | 150,000.00 | 150,000.00 | 100.00 | nderprosecution |
| Customer29 | 17,385.00 | 17,385.00 | 100.00 | Difficultyinpaymentcollection |
| Customer30 | 771,000.00 | 771,000.00 | 100.00 | Bankruptcy |
| Customer31 | 6,524,000.00 | 6,524,000.00 | 100.00 | Difficultyinpaymentcollection |
| Customer32 | 1,640,000.00 | 1,640,000.00 | 100.00 | Difficultyinpayment |
/
| collection | ||||
| Customer33 | 3,000,000.00 | 3,000,000.00 | 100.00 | Underprosecution |
| Customer34 | 7,518,700.00 | 7,518,700.00 | 100.00 | Difficultyinpaymentcollection |
| Customer35 | 12,373,833.24 | 12,373,833.24 | 100.00 | Difficultyinpaymentcollection |
| Customer36 | 928,000.00 | 928,000.00 | 100.00 | Difficultyinpaymentcollection |
| Customer37 | 3,840,000.00 | 3,840,000.00 | 100.00 | Difficultyinpaymentcollection |
| Customer38 | 1,969,200.00 | 1,969,200.00 | 100.00 | Bankruptcy |
| Customer39 | 227,020.50 | 227,020.50 | 100.00 | Difficultyinpaymentcollection |
| Customer40 | 3,941,537.07 | 3,941,537.07 | 100.00 | Difficultyinpaymentcollection |
| Customer41 | 2,939,377.30 | 2,939,377.30 | 100.00 | Difficultyinpaymentcollection |
| Customer42 | 1,325,903.50 | 1,325,903.50 | 100.00 | Difficultyinpaymentcollection |
| Customer43 | 888,000.00 | 888,000.00 | 100.00 | Underprosecution |
| Customer44 | 7,040,000.00 | 7,040,000.00 | 100.00 | Difficultyinpaymentcollection |
| Total | 132,740,164.67 | 132,740,164.67 | 100.00 | / |
Notestoprovisionforbaddebtsbasedonindividualitems:
□Applicable√N/AProvisionforbaddebtsbasedonthecombinationofitems:
√Applicable□N/ACombinationprovisionitem:Provisionforbaddebtsbasedonthecombinationofcreditriskcharacteristics
Unit:Yuan,Currency:RMB
| Name | losingbalance | ||
| Accountsreceivable | Provisionforbaddebts | Provisionratio(%) | |
| Within1year | 2,127,564,460.45 | 106,085,298.72 | 5.00 |
| 1to2years | 184,379,691.69 | 26,740,810.90 | 15.00 |
| 2to3years | 35,814,869.80 | 17,907,434.90 | 50.00 |
| Over3years | 28,107,665.43 | 28,107,665.43 | 100.00 |
| Total | 2,375,866,687.38 | 178,841,209.95 | |
Notestoprovisionforbaddebtsbasedonthecombinationofitems:
□Applicable√N/AProvisionforbaddebtsbasedonthegeneralmodelofexpectedcreditlosses
□Applicable√N/ABasisforclassificationatdifferentphasesandprovisionratioforbaddebtsN/ANotestosignificantchangesinthecarryingamountofaccountsreceivablewithchangesinlossprovisionsinthecurrentperiod:
□Applicable√N/A
/
(3)Provisionforbaddebts
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Type | Openingbalance | Amountofchangefortheperiod | Closingbalance | |||
| Provision | Amountrecoveredorreversed | Amountchargedofforwrittenoff | Otherchanges | |||
| Provisionforbaddebtsbasedonindividualitems | 100,049,103.70 | 45,372,333.30 | 12,627,272.33 | 54,000.00 | 132,740,164.67 | |
| Provisionforbaddebtsbasedoncombinationofitems | 131,788,129.57 | 85,774,067.22 | 38,720,986.84 | 178,841,209.95 | ||
| Total | 231,837,233.27 | 131,146,400.52 | 51,348,259.17 | 54,000.00 | - | 311,581,374.62 |
Ofwhich,significantamountofprovisionforbaddebtsrecoveredorreversedinthecurrentperiod:
□Applicable√N/A
(4)Accountsreceivableactuallywrittenoffinthecurrentperiod
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Amountwrittenoff |
| Accountsreceivableactuallywrittenoff | 54,000.00 |
Ofwhich,significantaccountsreceivablewrittenoff
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Entityname | Natureofaccountsreceivable | Amountwrittenoff | Write-offreasons | Write-offproceduresperformed | Whetherthepaymentisgeneratedfromrelatedpartytransactions |
| JiangsuJingkeTianshengEnergyCo.,Ltd. | Paymentforgoods | 54,000.00 | AreductionofRMB54,000 | ApprovedbytheManagement | No |
| Total | / | 54,000.00 | / | / | / |
Notestothewrite-offofaccountsreceivable:
□Applicable√N/A
(5)Topfiveaccountsreceivableandcontractassetsbyclosingbalanceofdebtor
√Applicable□N/A
/
Unit:Yuan,Currency:RMB
| Entityname | Closingbalanceofaccountsreceivable | Closingbalanceofcontractassets | Closingbalanceofaccountsreceivableandcontractassets | Ratioofthetotalclosingbalanceofaccountsreceivableandcontractassets(%) | Closingbalanceofprovisionforbaddebts |
| Customer1 | 198,032,188.21 | 198,032,188.21 | 7.90 | 9,905,109.41 | |
| Customer2 | 184,356,718.17 | 184,356,718.17 | 7.35 | 9,217,835.91 | |
| Customer3 | 163,903,309.73 | 163,903,309.73 | 6.53 | 11,355,541.13 | |
| Customer4 | 146,293,522.83 | 146,293,522.83 | 5.83 | 9,627,159.13 | |
| Customer5 | 140,497,111.71 | 140,497,111.71 | 5.60 | 8,655,989.73 | |
| Total | 833,082,850.65 | - | 833,082,850.65 | 33.21 | 48,761,635.30 |
OthernotesN/AOthernotes:
□Applicable√N/A
6.Contractassets
(1)Contractassets
□Applicable√N/A
(2)Amountandreasonsforsignificantchangesincarryingvalueduringthereportingperiod
□Applicable√N/A
(3)Disclosurebybaddebtprovisionmethod
□Applicable√N/AProvisionforbaddebtsbasedonindividualitems:
□Applicable√N/ANotestoprovisionforbaddebtsbasedonindividualitems:
□Applicable√N/AProvisionforbaddebtsbasedonthecombinationofitems:
□Applicable√N/AProvisionforbaddebtsbasedonthegeneralmodelofexpectedcreditlosses
□Applicable√N/ABasisforclassificationatdifferentphasesandprovisionratioforbaddebtsNotestosignificantchangesinthecarryingamountofcontractassetswithchangesinlossprovisionsinthecurrentperiod:
□Applicable√N/A
(4)Provisionforbaddebtsoncontractassetsinthecurrentperiod
□Applicable√N/A
/
Ofwhich,significantamountofprovisionforbaddebtsrecoveredorreversedinthecurrentperiod:
□Applicable√N/AOthernotes:
N/A
(5)Contractassetsactuallywrittenoffinthecurrentperiod
□Applicable√N/AOfwhich,significantcontractassetswrittenoff
□Applicable√N/ANotestothewrite-offcontractassets:
□Applicable√N/AOthernotes:
□Applicable√N/A
7.Receivablefinancing
(1)Classificationofreceivablefinancing
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Closingbalance | Openingbalance |
| Notesreceivable | 593,758,687.62 | 1,399,734,854.14 |
| Total | 593,758,687.62 | 1,399,734,854.14 |
(2)ReceivablefinancingpledgedbytheCompanyattheendoftheperiod
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Pledgedamountattheendoftheperiod |
| Notesreceivable | 170,332,260.22 |
| Total | 170,332,260.22 |
(3)ReceivablefinancingnotyetmaturedonthebalancesheetdatethathavebeenendorsedordiscountedbytheCompanyattheendoftheperiod
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Amountderecognizedattheendoftheperiod | Amountnotyetderecognizedattheendoftheperiod |
| Notesreceivable | 217,848,735.88 | 425,709,101.20 |
| Total | 217,848,735.88 | 425,709,101.20 |
(4)Disclosurebybaddebtprovisionmethod
□Applicable√N/AProvisionforbaddebtsbasedonindividualitems:
□Applicable√N/A
/
Notestoprovisionforbaddebtsbasedonindividualitems:
□Applicable√N/AProvisionforbaddebtsbasedonthecombinationofitems:
□Applicable√N/AProvisionforbaddebtsbasedonthegeneralmodelofexpectedcreditlosses
□Applicable√N/ABasisforclassificationatdifferentphasesandprovisionratioforbaddebtsN/ANotestosignificantchangesinthecarryingamountofreceivablefinancingwithchangesinlossprovisionsinthecurrentperiod:
□Applicable√N/A
(5)Provisionforbaddebts
□Applicable√N/AOfwhich,significantamountofprovisionforbaddebtsrecoveredorreversedinthecurrentperiod:
□Applicable√N/AOthernotes:
N/A
(6)Receivablefinancingactuallywrittenoffinthecurrentperiod
□Applicable√N/AOfwhich,significantreceivablefinancingwrittenoff:
□Applicable√N/ANotestothewrite-offofreceivablefinancing:
□Applicable√N/A
(7)Changesincapitalperiodandfairvalueofaccountsreceivable:
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Asatendoflastyear | Increase | Derecognizedamount | Totalincrease | Closingbalance | Accumulatedprovisionforlossesrecognizedinothercomprehensiveincome |
| Notesreceivable | 1,399,734,854.14 | 2,148,270,507.93 | 2,954,246,674.45 | - | 593,758,687.62 | - |
| Total | 1,399,734,854.14 | 2,148,270,507.93 | 2,954,246,674.45 | - | 593,758,687.62 | - |
/
(8)Othernotes:
□Applicable√N/A
8.Prepayments
(1)Prepaymentsbyaging
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Aging | Closingbalance | Openingbalance | ||
| Amount | Ratio(%) | Amount | Ratio(%) | |
| Within1year | 157,024,220.08 | 93.40 | 143,368,856.76 | 96.53 |
| 1to2years | 9,859,926.01 | 5.87 | 3,349,468.35 | 2.26 |
| 2to3years | 1,219,292.27 | 0.73 | 1,586,850.77 | 1.07 |
| Over3years | 488.00 | 0.00 | 206,174.92 | 0.14 |
| Total | 168,103,926.36 | 100.00 | 148,511,350.80 | 100.00 |
Reasonsfordelayedsettlementofsignificantprepaymentswithanagingofover1year:
N/A
(2)Topfiveprepaymentsbyclosingbalanceofsupplier
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Entityname | Closingbalance | Ratiooftotalclosingbalanceofprepayments(%) |
| Supplier1 | 10,989,000.00 | 6.54 |
| Supplier2 | 8,171,467.30 | 4.86 |
| Supplier3 | 7,153,440.00 | 4.26 |
| Supplier4 | 6,850,095.50 | 4.07 |
| Supplier5 | 6,519,048.00 | 3.88 |
| Total | 39,683,050.80 | 23.61 |
Othernotes
□Applicable√N/A
9.OtherreceivablesItemlist
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Closingbalance | Openingbalance |
| Interestreceivable | - | - |
| Dividendsreceivable | - | - |
| Otherreceivables | 49,474,649.42 | 66,611,598.53 |
| Total | 49,474,649.42 | 66,611,598.53 |
Othernotes:
□Applicable√N/AInterestreceivable
(1)Classificationofinterestreceivable
□Applicable√N/A
/
(2)Significantoverdueinterest
□Applicable√N/A
(3)Disclosurebybaddebtprovisionmethod
□Applicable√N/AProvisionforbaddebtsbasedonindividualitems:
□Applicable√N/ANotestoprovisionforbaddebtsbasedonindividualitems:
□Applicable√N/AProvisionforbaddebtsbasedonthecombinationofitems:
□Applicable√N/AProvisionforbaddebtsbasedonthegeneralmodelofexpectedcreditlosses
□Applicable√N/A
(4)Provisionforbaddebts
□Applicable√N/AOfwhich,significantamountofprovisionforbaddebtsrecoveredorreversedinthecurrentperiod:
□Applicable√N/AOthernotes:
N/A
(5)Interestreceivableactuallywrittenoffinthecurrentperiod
□Applicable√N/AOfwhich,significantinterestreceivablewrittenoff:
□Applicable√N/ANotestothewrite-offofinterestreceivable:
□Applicable√N/AOthernotes:
□Applicable√N/ADividendsreceivable
(1)Dividendsreceivable
□Applicable√N/A
(2)Significantdividendsreceivablewithanagingofover1year
□Applicable√N/A
(3)Disclosurebybaddebtprovisionmethod
□Applicable√N/AProvisionforbaddebtsbasedonindividualitems:
/
□Applicable√N/ANotestoprovisionforbaddebtsbasedonindividualitems:
□Applicable√N/AProvisionforbaddebtsbasedonthecombinationofitems:
□Applicable√N/AProvisionforbaddebtsbasedonthegeneralmodelofexpectedcreditlosses
□Applicable√N/A
(4)Provisionforbaddebts
□Applicable√N/AOfwhich,significantamountofprovisionforbaddebtsrecoveredorreversedinthecurrentperiod:
□Applicable√N/AOthernotes:
N/A
(5)Dividendsreceivableactuallywrittenoffinthecurrentperiod
□Applicable√N/AOfwhich,significant
□Applicable√N/ANotestothewrite-offofdividendsreceivable:
□Applicable√N/AOthernotes:
□Applicable√N/AOtherreceivables
(1)Disclosurebyaging
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Aging | Closingbalance | Openingbalance |
| Within1year | ||
| Ofwhich:sub-itemswithin1year | ||
| 40,414,114.09 | 63,611,380.34 | |
| Subtotalofreceivableswithin1year | 40,414,114.09 | 63,611,380.34 |
| 1to2years | 10,508,316.20 | 5,902,447.12 |
| 2to3years | 3,780,000.00 | 3,406,518.75 |
| Over3years | 1,081,403.50 | 1,081,403.50 |
| Less:Provisionforbaddebts | 6,309,184.37 | 7,390,151.18 |
| Total | 49,474,649.42 | 66,611,598.53 |
(2)Classificationbynatureofreceivables
√Applicable□N/A
Unit:Yuan,Currency:RMB
/
| Natureofreceivables | Closingbalance | Openingbalance |
| Provisionforbaddebtsbasedonindividualitems | 859,023.95 | 859,023.95 |
| Provisionforbaddebtsbasedonthecombinationofcreditriskcharacteristics | 54,924,809.84 | 73,142,725.76 |
| Total | 55,783,833.79 | 74,001,749.71 |
(3)Provisionforbaddebts
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Provisionforbaddebts | Phase1 | Phase2 | Phase3 | Total |
| Expectedcreditlossforthenext12months | Expectedcreditlossovertheentirelifetime(withoutcreditimpairment) | Expectedcreditlossovertheentirelifetime(withcreditimpairment) | ||
| BalanceasatJanuary1,2024 | 6,531,127.23 | - | 859,023.95 | 7,390,151.18 |
| BalanceasatJanuary1,2024,inthecurrentperiod | - | - | - | - |
| --CarryovertoPhase2 | - | - | - | - |
| --CarryovertoPhase3 | - | - | - | - |
| --CarryovertoPhase2 | - | - | - | - |
| --CarryovertoPhase1 | - | - | - | - |
| Provision | 1,406,638.54 | - | - | 1,406,638.54 |
| Reversal | 2,487,605.35 | - | - | 2,487,605.35 |
| Charge-off | - | - | - | - |
| Write-off | - | - | - | - |
| Otherchange | - | - | - | - |
| BalanceasatJune30,2024 | 5,450,160.42 | - | 859,023.95 | 6,309,184.37 |
BasisforclassificationatdifferentphasesandprovisionratioforbaddebtsN/ANotestosignificantchangesinthecarryingamountofotherreceivableswithchangesinlossprovisionsinthecurrentperiod:
√Applicable□N/ATheamountofprovisionforbaddebtsinthecurrentperiodandthebasisforevaluatingwhetherthecreditriskoffinancialinstrumentshassignificantlyincreased:
□Applicable√N/A
(4)Provisionforbaddebts
√Applicable□N/A
/
Unit:Yuan,Currency:RMB
| Type | Openingbalance | Amountofchangefortheperiod | Closingbalance | |||
| Provision | Amountrecoveredorreversed | Amountchargedofforwrittenoff | Otherchanges | |||
| Provisionforbaddebtsbasedonindividualitems | 859,023.95 | - | - | - | - | 859,023.95 |
| Provisionforbaddebtsbasedoncombinationofitems | 6,531,127.23 | 1,406,638.54 | 2,487,589.52 | - | -15.83 | 5,450,160.42 |
| Total | 7,390,151.18 | 1,406,638.54 | 2,487,589.52 | - | -15.83 | 6,309,184.37 |
Ofwhich,significantamountofprovisionforbaddebtsrecoveredorreversedinthecurrentperiod:
□Applicable√N/AOthernotesN/A
(5)Otherreceivablesactuallywrittenoffinthecurrentperiod
□Applicable√N/AOfwhich,significantreceivableswrittenoff:
□Applicable√N/ANotestothewrite-offofotherreceivables:
□Applicable√N/A
(6)Topfiveotherreceivablesbyclosingbalanceofdebtor
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Entityname | Closingbalance | Ratiooftotalclosingbalanceofotherreceivables(%) | Nature | Aging | Closingbalanceofprovisionforbaddebts |
| Institution1 | 7,969,538.42 | 16.10 | Exportdrawback | Within1year | |
| Institution2 | 2,970,000.00 | 6.00 | Rentalbond | 2-3years | 1,485,000.00 |
| Institution3 | 2,020,000.00 | 4.08 | Bidbond | Within1year | 101,000.00 |
| Institution4 | 1,912,298.00 | 3.87 | Rentalbond | Within1yearto1-2years | 176,813.20 |
| Institution5 | 1,650,000.00 | 3.34 | Rentalbond | 1-2years | 247,500.00 |
| Total | 16,521,836.42 | 33.39 | / | / | 2,010,313.20 |
(7)Presentedasotherreceivablesduetocentralizedfundmanagement
□Applicable√N/AOthernotes:
□Applicable√N/A
/
10.Inventory
(1)Classificationofinventory
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Closingbalance | Openingbalance | ||||
| Carryingamount | Provisionforinventoryimpairment/provisionforimpairmentofcontractperformancecosts | Carryingvalue | Carryingamount | Provisionforinventoryimpairment/provisionforimpairmentofcontractperformancecosts | Carryingvalue | |
| Rawmaterials | 309,508,719.37 | 20,265,092.48 | 289,243,626.89 | 374,137,100.65 | 18,193,741.13 | 355,943,359.52 |
| Goodsinprogress | 686,865,440.08 | 8,201,076.25 | 678,664,363.83 | 976,796,067.52 | 6,494,578.45 | 970,301,489.07 |
| Commoditystocks | 171,436,481.34 | 11,755,072.65 | 159,681,408.69 | 68,265,331.71 | 8,887,853.40 | 59,377,478.31 |
| Goodsshippedintransit | 6,306,205,547.81 | 159,136,564.08 | 6,147,068,983.73 | 6,266,820,333.22 | 100,522,588.20 | 6,166,297,745.02 |
| Consignedprocessingmaterials | 24,658,783.31 | - | 24,658,783.31 | 48,602,221.22 | - | 48,602,221.22 |
| Self-madesemi-finishedgoods | 42,687,830.28 | 1,756,874.81 | 40,930,955.47 | 30,920,063.46 | 1,859,074.10 | 29,060,989.36 |
| Total | 7,541,362,802.19 | 201,114,680.27 | 7,340,248,121.92 | 7,765,541,117.78 | 135,957,835.28 | 7,629,583,282.50 |
(2)Dataresourcesrecognizedasinventory
□Applicable√N/A
(3)Provisionforinventoryimpairmentandprovisionforimpairmentofcontractperformancecost
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Openingbalance | Increase | Decrease | Closingbalance | ||
| Provision | Others | Amountreversedorchargedoff | Other | |||
| Rawmaterials | 18,193,741.13 | 6,203,152.23 | - | 1,359,942.88 | 2,771,858.00 | 20,265,092.48 |
| Goodsinprogress | 6,494,578.45 | 1,706,497.80 | - | - | - | 8,201,076.25 |
| Commoditystocks | 8,887,853.40 | 3,588,177.55 | - | - | 720,958.30 | 11,755,072.65 |
| Goodsshippedintransit | 100,522,588.20 | 76,556,833.34 | - | - | 17,942,857.46 | 159,136,564.08 |
| Self-made | 1,859,074.10 | -102,199.29 | - | - | - | 1,756,874.81 |
/
| semi-finishedgoods | ||||||
| Total | 135,957,835.28 | 87,952,461.63 | - | 1,359,942.88 | 21,435,673.76 | 201,114,680.27 |
Reasonsforreversalorcharge-offofprovisionforinventoryimpairmentintheperiod
□Applicable√N/AProvisionforinventoryimpairmentbasedonthecombinationofitems
□Applicable√N/ACriteriaonprovisionforinventoryimpairmentbasedonthecombinationofitems
□Applicable√N/A
(4)Capitalizedamountofborrowingcostsincludedintheclosingbalanceofinventoryanditscalculationcriteriaandbasis
□Applicable√N/A
(5)Notestoamortizedamountofcontractperformancecostintheperiod
□Applicable√N/AOthernotes:
□Applicable√N/A
11.Held-for-saleassets
□Applicable√N/A
12.Non-currentassetsduewithinoneyear
□Applicable√N/ADebtinvestmentsduewithinoneyear
□Applicable√N/AOtherdebtinvestmentsduewithinoneyear
□Applicable√N/AOthernotestonon-currentassetsduewithinoneyearN/A
13.Othercurrentassets
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Closingbalance | Openingbalance |
| Contractacquisitioncost | - | - |
| Costofreturnedgoodsreceivable | - | - |
| Withholdingincometax | 216,838.33 | 15,737.67 |
| Inputtaxtobededucted | 118,758,542.48 | 78,283,604.86 |
| Total | 118,975,380.81 | 78,299,342.53 |
Othernotes:
N/A
/
14.DebtInvestments
(1)Debtinvestments
□Applicable√N/AChangeintheprovisionforimpairmentofdebtinvestmentsintheperiod
□Applicable√N/A
(2)Significantdebtinvestmentsattheendoftheperiod
□Applicable√N/A
(3)Provisionforimpairment
□Applicable√N/ABasisforclassificationatdifferentphasesandprovisionratioforimpairment:
N/ANotestosignificantchangesinthecarryingamountofdebtinvestmentswithchangesinlossprovisionsinthecurrentperiod:
□Applicable√N/ATheamountofprovisionforimpairmentfortheperiodandthebasisforevaluatingwhetherthecreditriskoffinancialinstrumentshassignificantlyincreased:
□Applicable√N/A
(4)Debtinvestmentsactuallywrittenoffintheperiod
□Applicable√N/AOfwhich,significantdebtinvestmentswrittenoff
□Applicable√N/ANotestothewrite-offofdebtinvestments:
□Applicable√N/AOthernotes:
N/A
15.Otherdebtinvestments
(1)Otherdebtinvestments
□Applicable√N/AChangeintheprovisionforimpairmentofotherdebtinvestmentsintheperiod
□Applicable√N/A
(2)Significantotherdebtinvestmentsattheendoftheperiod
□Applicable√N/A
(3)Provisionforimpairment
□Applicable√N/A
/
(4)Otherdebtinvestmentsactuallywrittenoffintheperiod
□Applicable√N/AOfwhich,significantotherdebtinvestmentswrittenoff
□Applicable√N/ANotestothewrite-offofotherdebtinvestments:
□Applicable√N/AOthernotes:
□Applicable√N/A
16.Long-termreceivables
(1)Long-termreceivables
□Applicable√N/A
(2)Disclosurebybaddebtprovisionmethod
□Applicable√N/AProvisionforbaddebtsbasedonindividualitems:
□Applicable√N/ANotestoprovisionforbaddebtsbasedonindividualitems:
□Applicable√N/AProvisionforbaddebtsbasedonthecombinationofitems:
□Applicable√N/AProvisionforbaddebtsbasedonthegeneralmodelofexpectedcreditlosses
□Applicable√N/A
(3)Provisionforbaddebts
□Applicable√N/AOfwhich,significantamountofprovisionforbaddebtsrecoveredorreversedinthecurrentperiod:
□Applicable√N/AOthernotes:
N/A
(4)Long-termreceivablesactuallywrittenoffinthecurrentperiod
□Applicable√N/AOfwhich,significantlong-termreceivableswrittenoff:
□Applicable√N/ANotestothewrite-offoflong-termreceivables:
□Applicable√N/AOthernotes:
□Applicable√N/A
/
17.Long-termequityinvestments
(1)Long-termequityinvestments
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Theinvestedentity | Openingbalance | Increase/decrease | Closingbalance | Closingbalanceofimpairmentprovision | |||||||
| Additionalinvestment | Reducedinvestment | Investmentgainsandlossesrecognizedundertheequitymethod | Adjustmentofothercomprehensiveincome | Otherequitychanges | Declarationofdistributionofcashdividendsorprofits | Provisionforimpairment | Others | ||||
| 1.Jointventures | |||||||||||
| Subtotal | - | - | - | - | - | - | - | - | - | - | |
| 2.Affiliates | |||||||||||
| BengbuRenoVacuumTechnologyCo.,Ltd. | 3,340,670.41 | - | - | -4,273.97 | - | - | - | - | - | 3,336,396.44 | - |
| Subtotal | 3,340,670.41 | - | - | -4,273.97 | - | - | - | - | - | 3,336,396.44 | - |
| Total | 3,340,670.41 | - | - | -4,273.97 | - | - | - | - | - | 3,336,396.44 | - |
(2)Impairmenttestingoflong-termequityinvestments
□Applicable√N/AOthernotesN/A
/
18.Otherequityinvestments
(1)Otherequityinvestments
□Applicable√N/A
(2)Notestoderecognitioninthecurrentperiod
□Applicable√N/AOthernotes:
□Applicable√N/A
/
19.Othernon-currentfinancialassets
□Applicable√N/A
Unit:Yuan,Currency:RMB
| Item | Closingbalance | Openingbalance |
| Financialassetsatfairvaluethroughprofitorloss | 161,131,813.17 | 185,271,024.08 |
| Ofwhich:Debtinvestments | 20,969,754.40 | 20,969,754.40 |
| Equityinvestments | 140,162,058.77 | 164,301,269.68 |
| Total | 161,131,813.17 | 185,271,024.08 |
Othernotes:
N/A
20.InvestmentpropertiesMeasurementmodelforinvestmentpropertiesN/A
(1)Impairmenttestingofinvestmentpropertiesusingcostmeasurementmodel
□Applicable√N/AOthernotes
□Applicable√N/A
21.FixedassetsItemlist
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Closingbalance | Openingbalance |
| Fixedassets | 915,271,218.04 | 942,742,926.56 |
| Disposaloffixedassets | - | - |
| Total | 915,271,218.04 | 942,742,926.56 |
Othernotes:
N/AFixedassets
(1)Fixedassets
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Buildingsandstructures | Machineryequipment | Meansoftransport | Officeequipment | Electronicequipment | Otherequipment | Total |
| I.Originalcarryingvalue | |||||||
| 1.Openingbalance | 848,381,122.75 | 79,672,765.28 | 19,442,339.37 | 13,006,214.15 | 24,216,722.29 | 50,919,708.87 | 1,035,638,872.71 |
| 2.Increase | 5,715,544.96 | 1,007,870.84 | 718,839.82 | 76,721.54 | 2,014,752.53 | 1,247,796.60 | 10,781,526.29 |
| (1)Procurement | 5,715,544.96 | 1,007,870.84 | 718,839.82 | 76,721.54 | 2,014,752.53 | 1,247,796.60 | 10,781,526.29 |
/
| (2)Transferfromconstructioninprogress | - | - | - | - | - | - | - |
| (3)Increaseofbusinessmerger | - | - | - | - | - | - | - |
| 3.Decrease | - | 882,416.81 | - | 10,994.69 | 353,445.88 | 106,651.32 | 1,353,508.70 |
| (1)Disposalorscrapping | - | 882,416.81 | - | 10,994.69 | 353,445.88 | 106,651.32 | 1,353,508.70 |
| 4.Closingbalance | 854,096,667.71 | 79,798,219.31 | 20,161,179.19 | 13,071,941.00 | 25,878,028.94 | 52,060,854.15 | 1,045,066,890.30 |
| II.Accumulateddepreciation | - | ||||||
| 1.Openingbalance | 36,381,823.05 | 18,762,376.46 | 11,058,084.28 | 3,458,784.30 | 11,701,135.26 | 11,533,742.80 | 92,895,946.15 |
| 2.Increase | 23,320,765.70 | 2,725,397.55 | 1,487,851.91 | 1,164,518.11 | 3,725,053.96 | 4,896,108.53 | 37,319,695.76 |
| (1)Provision | 23,320,765.70 | 2,725,397.55 | 1,487,851.91 | 1,164,518.11 | 3,725,053.96 | 4,896,108.53 | 37,319,695.76 |
| 3.Decrease | 5,108.22 | 203,176.19 | - | 522.25 | 204,442.17 | 6,720.82 | 419,969.65 |
| (1)Disposalorscrapping | 5,108.22 | 203,176.19 | - | 522.25 | 204,442.17 | 6,720.82 | 419,969.65 |
| 4.Closingbalance | 59,697,480.53 | 21,284,597.82 | 12,545,936.19 | 4,622,780.16 | 15,221,747.05 | 16,423,130.51 | 129,795,672.26 |
| III.Provisionforimpairment | - | ||||||
| 1.Openingbalance | - | - | - | - | - | - | - |
| 2.Increase | - | - | - | - | - | - | - |
| (1)Provision | - | - | - | - | - | - | - |
| 3.Decrease | - | - | - | - | - | - | - |
| (1)Disposalorscrapping | - | - | - | - | - | - | - |
| 4.Closing | - | - | - | - | - | - | - |
/
| balance | |||||||
| IV.Carryingvalue | - | ||||||
| 1.Closingcarryingvalue | 794,399,187.18 | 58,513,621.49 | 7,615,243.00 | 8,449,160.84 | 10,656,281.89 | 35,637,723.64 | 915,271,218.04 |
| 2.Openingcarryingvalue | 811,999,299.70 | 60,910,388.82 | 8,384,255.09 | 9,547,429.85 | 12,515,587.03 | 39,385,966.07 | 942,742,926.56 |
(2)Temporarilyidlefixedassets
□Applicable√N/A
(3)Fixedassetsleasedunderoperatinglease
□Applicable√N/A
(4)Fixedassetswithoutcertificateoftitle
□Applicable√N/A
(5)Impairmenttestingoffixedassets
□Applicable√N/AOthernotes:
□Applicable√N/ADisposaloffixedassets
□Applicable√N/A
22.ConstructioninprogressItemlist
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Closingbalance | Openingbalance |
| Constructioninprogress | 593,113,483.75 | 152,486,136.51 |
| Constructionmaterials | - | - |
| Total | 593,113,483.75 | 152,486,136.51 |
Othernotes:
N/AConstructioninprogress
(1)Constructioninprogress
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Closingbalance | Openingbalance | ||||
| Carryingamount | Provisionforimpairment | Carryingvalue | Carryingamount | Provisionforimpairment | Carryingvalue | |
| Platform- | 209,019,558.94 | - | 209,019,558.94 | 112,705,043.63 | - | 112,705,043.63 |
/
| basedhigh-endintelligentequipmentandsmartfactory | ||||||
| SpecializedlithiumionandphotovoltaicequipmentandR&Dcenterproject | 378,472,669.92 | - | 378,472,669.92 | 34,158,965.16 | - | 34,158,965.16 |
| Othersporadicprojects | 5,621,254.89 | - | 5,621,254.89 | 5,622,127.72 | - | 5,622,127.72 |
| Total | 593,113,483.75 | - | 593,113,483.75 | 152,486,136.51 | - | 152,486,136.51 |
(2)Changesinsignificantconstructionprojectsinprogressintheperiod
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Projectname | Budget | Openingbalance | Increaseinthecurrentperiod | Fixedassetscarriedoverintheperiod | Otherdecrease | Closingbalance | Ratioofprojectinvestmentintotalbudget(%) | Progress | Accumulatedinterestcapitalization | Ofwhich:capitalizedinterestinthecurrentperiod | Interestcapitalizationratiointhecurrentperiod(%) | Sourceoffunds |
| Platform-basedhigh-endintelligentequipmentandsmartfactory | 1,059,419,000.00 | 112,705,043.63 | 209,019,558.94 | - | - | 321,724,602.57 | 30.37 | 70% | 20,657,407.91 | 15,431,086.89 | 100.00 | Capitalraisedfromothers |
| SpecializedlithiumionandphotovoltaicequipmentandR&Dcenterproject | 1,041,909,500.00 | 34,158,965.16 | 231,608,661.13 | - | - | 265,767,626.29 | 25.51 | 70% | 1,564,750.62 | 1,564,750.62 | 100.00 | Self-financing |
| Total | - | 146,864,008.79 | 440,628,220.07 | - | - | 587,492,228.86 | / | / | 22,222,158.53 | 16,995,837.51 | / | / |
(3)Provisionforimpairmentofconstructioninprogress
□Applicable√N/A
(4)Impairmenttestingofconstructioninprogress
□Applicable√N/AOthernotes
□Applicable√N/AConstructionmaterials
□Applicable√N/A
23.Productivebiologicalassets
(1)Productivebiologicalassetsusingcostmeasurementmodel
□Applicable√N/A
/
(2)Impairmenttestingofproductivebiologicalassetsusingcostmeasurementmodel
□Applicable√N/A
(3)Productivebiologicalassetsusingfair-valuemeasurementmodel
□Applicable√N/AOthernotes
□Applicable√N/A
24.Oilandgasassets
(1)Oilandgasassets
□Applicable√N/A
(2)Impairmenttestingofoilandgasassets
□Applicable√N/AOthernotes:
N/A
25.Right-of-useassets
(1)Right-of-useassets
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Buildingsandstructures | Transportationequipment | Total |
| I.Originalcarryingvalue | |||
| 1.Openingbalance | 169,560,129.16 | 802,150.79 | 170,362,279.95 |
| 2.Increase | 14,843,870.62 | - | 14,843,870.62 |
| -Newleasing | 14,843,870.62 | - | 14,843,870.62 |
| 3.Decrease | 3,717,538.62 | - | 3,717,538.62 |
| -Disposal | 3,717,538.62 | - | 3,717,538.62 |
| 4.Closingbalance | 180,686,461.16 | 802,150.79 | 181,488,611.95 |
| II.Accumulateddepreciation | |||
| 1.Openingbalance | 58,634,231.67 | 200,537.70 | 58,834,769.37 |
| 2.Increase | 27,204,636.08 | 40,137.14 | 27,244,773.22 |
| (1)Provision | 27,204,636.08 | 40,137.14 | 27,244,773.22 |
| 3.Decrease | 3,562,641.18 | - | 3,562,641.18 |
| (1)Disposal | 3,562,641.18 | - | 3,562,641.18 |
| 4.Closingbalance | 82,276,226.57 | 240,674.84 | 82,516,901.41 |
| III.Provisionforimpairment | |||
| 1.Openingbalance | - | - | - |
| 2.Increase | - | - | - |
| (1)Provision | - | - | - |
| 3.Decrease | - | - | - |
| (1)Disposal | - | - | - |
| 4.Closingbalance | - | - | - |
| IV.Carryingvalue |
/
| 1.Closingcarryingvalue | 98,410,234.59 | 561,475.95 | 98,971,710.54 |
| 2.Openingcarryingvalue | 110,925,897.49 | 601,613.09 | 111,527,510.58 |
(2)Impairmenttestingofright-of-useassets
□Applicable√N/AOthernotes:
N/A
26.Intangibleassets
(1)Intangibleassets
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Landuseright | Patents | Software | Others | Non-patentedtechnology | Total |
| I.Originalcarryingvalue | ||||||
| 1.Openingbalance | 139,156,777.58 | 31,550,208.49 | 23,282,373.11 | 311,245.61 | 11,730,000.00 | 206,030,604.79 |
| 2.Increase | - | - | 1,853,368.29 | - | - | 1,853,368.29 |
| (1)Procurement | - | - | 1,853,368.29 | - | - | 1,853,368.29 |
| (2)InternalR&D | - | - | - | - | - | - |
| (3)Increaseofbusinessmerger | - | - | - | - | - | - |
| (4)Investor'sInvestment | - | - | - | - | - | - |
| 3.Decrease | - | - | - | - | - | - |
| (1)Disposal | - | - | - | - | - | - |
| 4.Closingbalance | 139,156,777.58 | 31,550,208.49 | 25,135,741.40 | 311,245.61 | 11,730,000.00 | 207,883,973.08 |
| II.Accumulatedamortization | - | |||||
| 1.Openingbalance | 4,907,035.47 | 4,580,060.84 | 12,607,425.32 | 196,201.36 | 391,000.00 | 22,681,722.99 |
| 2.Increase | 1,565,836.99 | 1,169,955.59 | 2,044,624.71 | 34,513.28 | 898,409.40 | 5,713,339.97 |
| (1)Provision | 1,565,836.99 | 1,169,955.59 | 2,044,624.71 | 34,513.28 | 898,409.40 | 5,713,339.97 |
| 3.Decrease | - | - | - | - | - | - |
| (1) | - | - | - | - | - | - |
/
| Disposal | ||||||
| 4.Closingbalance | 6,472,872.46 | 5,750,016.43 | 14,652,050.03 | 230,714.64 | 1,289,409.40 | 28,395,062.96 |
| III.Provisionforimpairment | - | |||||
| 1.Openingbalance | - | - | - | - | - | - |
| 2.Increase | - | - | - | - | - | - |
| (1)Provision | - | - | - | - | - | - |
| 3.Decrease | - | - | - | - | - | - |
| (1)Disposal | - | - | - | - | - | - |
| 4.Closingbalance | - | - | - | - | - | - |
| IV.Carryingvalue | - | |||||
| 1.Closingcarryingvalue | 132,683,905.12 | 25,800,192.06 | 10,483,691.37 | 80,530.97 | 10,440,590.60 | 179,488,910.12 |
| 2.Openingcarryingvalue | 134,249,742.11 | 26,970,147.65 | 10,674,947.79 | 115,044.25 | 11,339,000.00 | 183,348,881.80 |
TheproportionofintangibleassetsproducedthroughtheCompany’sinternalR&Dtothebalanceofintangibleassetsis0%attheendoftheperiod
(2)Dataresourcesrecognizedasintangibleassets
□Applicable√N/A
(3)Landuserightwithoutthecertificateoftitle
□Applicable√N/A
(4)Impairmenttestingofintangibleassets
□Applicable√N/AOthernotes:
□Applicable√N/A
27.Goodwill
(1)Originalcarryingvalueofgoodwill
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Nameofthe | Opening | Increase | Decrease | Closing |
/
| investedentityorformationofgoodwill | balance | Formedduetobusinessmerger | Others | Disposal | Others | balance |
| SongciElectromechanical | 20,371,470.55 | - | - | - | - | 20,371,470.55 |
| LeddoTechnology | 19,369,760.40 | - | - | - | - | 19,369,760.40 |
| PolarNewEnegry | 33,880,285.98 | - | - | - | - | 33,880,285.98 |
| Total | 73,621,516.93 | - | - | - | - | 73,621,516.93 |
(2)Provisionforimpairmentofgoodwill
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Nameoftheinvestedentityorformationofgoodwill | Openingbalance | Increase | Decrease | Closingbalance | ||
| Provision | Others | Disposal | Others | |||
| LeddoTechnology | 9,608,936.17 | - | - | - | - | 9,608,936.17 |
| PolarNewEnegry | 394,868.75 | - | - | - | - | 394,868.75 |
| Total | 10,003,804.92 | - | - | - | - | 10,003,804.92 |
(3)Relevantinformationabouttheassetgrouporportfolioofassetgroupsthatcontainsgoodwill
√Applicable□N/A
| Name | Compositionandbasisoftheassetgrouporportfolio | Operatingdivisionandbasis | Whetheritisconsistentwithpreviousyears |
| SongciElectromechanical | Longtermassetsandgoodwill;theproductsproducedbytheassetgroupthatcontainsgoodwill,withanactivemarket,cangenerateindependentcashflows,whichcanberecognizedasaseparateassetgroup | Photovoltaicequipmentsegment | Yes |
| LeddoTechnology | Longtermassetsandgoodwill;theproductsproducedbytheassetgroupthatcontainsgoodwill,withanactivemarket,cangenerateindependentcash | Semiconductorsegment | Yes |
/
| flows,whichcanberecognizedasaseparateassetgroup | |||
| PolarNewEnegry | Longtermassetsandgoodwill;theproductsproducedbytheassetgroupthatcontainsgoodwill,withanactivemarket,cangenerateindependentcashflows,whichcanberecognizedasaseparateassetgroup | Photovoltaicequipmentsegmentandpowergenerationstation | Yes |
Changesinanassetgrouporassetgroupportfolio
□Applicable√N/AOthernotes
□Applicable√N/A
(4)SpecificmethodfordeterminingrecoverableamountTherecoverableamountisdeterminedbasedonthenetfairvalueafterdeductingdisposalexpenses
□Applicable√N/ATherecoverableamountisdeterminedbasedonthepresentvalueofexpectedfuturecashflows
□Applicable√N/AReasonsforthesignificantdifferencesbetweentheaforementionedinformationandtheinformationusedinpreviousyears'impairmenttestingorexternalinformation
□Applicable√N/AReasonsforthesignificantdiscrepancybetweentheinformationusedbytheCompanyforimpairmenttestingandtheactualsituationinthepreviousyears
□Applicable√N/A
(5)PerformancecommitmentandcorrespondingimpairmentofgoodwillWhengoodwillisformed,thereisaperformancecommitment,andthereportingperiodorthepreviousperiodiswithintheperformancecommitmentperiod
□Applicable√N/AOthernotes
□Applicable√N/A
28.Long-termdeferredexpenses
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Openingbalance | Increase | Amortizedamount | Otherdecrease | Closingbalance |
| Renovationcosts | 48,222,043.21 | 10,668,231.73 | 10,202,931.02 | 271,017.70 | 48,416,326.22 |
| Others | 17,111,184.80 | 11,317,920.00 | 6,604,811.13 | - | 21,824,293.67 |
| Total | 65,333,228.01 | 21,986,151.73 | 16,807,742.15 | 271,017.70 | 70,240,619.89 |
/
Othernotes:
N/A
29.Deferredincometaxassets/deferredincometaxliabilities
(1)Undeducteddeferredincometaxassets
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Closingbalance | Openingbalance | ||
| Deductibletemporarydifferences | Deferredincometaxassets | Deductibletemporarydifferences | Deferredincometaxassets | |
| Provisionforimpairmentofassets | 234,790,478.39 | 36,212,505.35 | 172,802,851.32 | 26,236,297.08 |
| Unrealizedprofitsfrominternaltransactions | 4,340,476.33 | 651,071.45 | 982,453.48 | 147,368.03 |
| Deductiblelosses | 188,684,692.92 | 35,117,961.83 | 132,492,161.32 | 24,075,388.04 |
| Creditimpairmentlosses | 284,106,864.29 | 44,411,285.52 | 206,156,735.64 | 33,660,930.35 |
| Estimatedliabilities | 31,260,862.31 | 4,689,129.34 | 18,750,246.20 | 2,812,536.93 |
| Deferredincome | 635,840.46 | 95,376.07 | 881,377.19 | 132,206.58 |
| Sharepayment | 6,500,915.26 | 975,137.29 | 42,764,329.03 | 6,414,649.35 |
| Leaseliabilities | 101,782,104.77 | 15,674,364.94 | 103,976,963.34 | 15,887,848.75 |
| Total | 852,102,234.74 | 137,826,831.79 | 678,807,117.52 | 109,367,225.11 |
(2)Undeducteddeferredincometaxliabilities
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Closingbalance | Openingbalance | ||
| Taxabletemporarydifferences | Deferredincometaxliabilities | Taxabletemporarydifferences | Deferredincometaxliabilities | |
| Changeinfairvalueoffinancialassets | 66,367,226.99 | 9,955,084.05 | 91,581,898.67 | 13,740,425.32 |
| Appreciationofconsolidatedassetsofdifferentcontrollingenterprisesaftervaluation | 62,647,052.58 | 9,397,057.89 | 55,137,721.47 | 8,270,658.22 |
| Accelerateddepreciationoffixedassets | 72,998,434.53 | 10,949,765.18 | 82,285,569.83 | 12,342,835.47 |
| Right-of-useassets | 91,774,070.22 | 14,152,281.99 | 101,599,597.11 | 15,518,294.13 |
| Initialmeasurementandamortizationofconvertiblebonds | 171,501,235.35 | 25,725,185.30 | 173,020,122.99 | 25,953,018.45 |
| Total | 465,288,019.67 | 70,179,374.41 | 503,624,910.07 | 75,825,231.59 |
(3)Deferredincometaxassetsorliabilitiespresentedatnetvalueafteroffsetting
□Applicable√N/A
(4)Detailsofunrecognizeddeferredincometaxassets
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Closingbalance | Openingbalance |
/
| Deductibletemporarydifferences | - | - |
| Deductiblelosses | 478,568,539.66 | 383,746,232.72 |
| Total | 478,568,539.66 | 383,746,232.72 |
(5)ThedeductiblelossesofunrecognizeddeferredIncometaxassetswillbedueinthefollowingyears
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Year | Closingbalance | Openingbalanceat | Remarks |
| 2024 | 5,242,848.48 | 5,242,848.48 | |
| 2025 | 8,130,424.71 | 8,130,424.71 | |
| 2026 | 35,808,068.44 | 35,808,068.44 | |
| 2027 | 41,231,584.82 | 41,231,584.82 | |
| 2028 | 84,143,947.70 | 84,143,947.70 | |
| 2029 | 61,572,983.56 | 11,817,613.11 | |
| 2030 | 5,173,709.05 | 5,099,027.64 | |
| 2031 | 59,852,589.14 | 59,852,589.14 | |
| 2032 | 101,380,226.72 | 102,527,871.15 | |
| 2033 | 28,795,553.11 | 29,892,257.53 | |
| 2034 | 47,236,603.93 | - | |
| Total | 478,568,539.66 | 383,746,232.72 | / |
Othernotes:
□Applicable√N/A
30.Othernon-currentassets
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Closingbalance | Openingbalance | ||||
| Carryingamount | Provisionforimpairment | Carryingvalue | Carryingamount | Provisionforimpairment | Carryingvalue | |
| Contractacquisitioncost | - | - | - | - | - | - |
| Contractperformancecost | - | - | - | - | - | - |
| Costofreturnedgoodsreceivable | - | - | - | - | - | - |
| Contractassets | - | - | - | - | - | - |
| Earnestmoneyforinvestment | 11,184,500.00 | - | 11,184,500.00 | 12,553,250.00 | - | 12,553,250.00 |
| Prepaidlong-termasset | 39,311,393.14 | - | 39,311,393.14 | 28,362,127.17 | - | 28,362,127.17 |
/
| constructionfunds | ||||||
| Total | 50,495,893.14 | - | 50,495,893.14 | 40,915,377.17 | - | 40,915,377.17 |
Othernotes:
N/A
31.Assetswithrestrictedownershiporrightofuse
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Closingbalance | Openingbalance | ||||||
| Carryingamount | Carryingvalue | Restrictiontype | Restrictions | Carryingamount | Carryingvalue | Restrictiontype | Restrictions | |
| Monetaryfunds | 304,596,281.75 | 304,596,281.75 | Others | Securitydeposit | 311,146,788.09 | 311,146,788.09 | Others | Securitydeposit |
| Receivablefinancing | 170,332,260.22 | 170,332,260.22 | Pledge | Pledge | 856,879,803.37 | 856,879,803.37 | Pledge | Pledge |
| Receivablefinancing | 425,709,101.20 | 425,709,101.20 | Others | Endorsedordiscounted | 167,409,902.56 | 167,409,902.56 | Others | Endorsedordiscounted |
| Total | 900,637,643.17 | 900,637,643.17 | / | / | 1,335,436,494.02 | 1,335,436,494.02 | / | / |
Othernotes:
N/A
32.Short-termborrowings
(1)Classificationofshort-termborrowings
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Closingbalance | Openingbalance |
| Guaranteedborrowings | 222,327,275.83 | 152,572,134.15 |
| Unsecuredborrowings | 209,862,541.67 | 199,755,511.11 |
| Receivablefinancingnotyetderecognized | 232,550,380.16 | 167,409,902.56 |
| Total | 664,740,197.66 | 519,737,547.82 |
Notestotheclassificationofshort-termborrowings:
N/A
(2)Short-termborrowingsthatareoverduebutnotyetrepaid
□Applicable√N/AOthernotes:
□Applicable√N/A
33.Tradingfinancialliabilities
□Applicable√N/AOthernotes:
□Applicable√N/A
34.Derivativefinancialliabilities
□Applicable√N/A
/
35.Notespayable
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Type | Closingbalance | Openingbalance |
| Tradeacceptance | - | - |
| Bankacceptance | 1,636,520,306.81 | 2,333,573,500.10 |
| L/C | 268,010.40 | 168,972.80 |
| Total | 1,636,788,317.21 | 2,333,742,472.90 |
Thetotalamountofunpaidnotespayableis0yuanattheendofthisperiod.
36.Accountspayable
(1)Disclosureofaccountspayable
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Closingbalance | Openingbalance |
| Within1year | 3,197,318,431.85 | 3,229,334,831.38 |
| 1-2years | 37,552,801.08 | 12,946,275.37 |
| 2-3years | 73,906.30 | 152,774.16 |
| Over3years | 269,859.56 | 1,413,242.84 |
| Total | 3,235,214,998.79 | 3,243,847,123.75 |
(2)Significantaccountspayablewithanagingofover1yearoroverdue
□Applicable√N/AOthernotes:
□Applicable√N/A
37.Advancesfromcustomers
(1)Disclosureofadvancesfromcustomers
□Applicable√N/A
(2)Significantadvancesfromcustomerswithanagingofover1year
□Applicable√N/A
(3)Amountandreasonsforsignificantchangesincarryingvalueduringthereportingperiod
□Applicable√N/AOthernotes:
□Applicable√N/A
38.Contractliabilities
(1)Contractliabilities
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Closingbalance | Openingbalance |
/
| Advancesonsales | 3,261,471,207.28 | 3,906,972,602.22 |
| Total | 3,261,471,207.28 | 3,906,972,602.22 |
(2)Significantcontractliabilitieswithanagingofover1year
□Applicable√N/A
(3)Amountandreasonsforsignificantchangesincarryingvalueduringthereportingperiod
□Applicable√N/AOthernotes:
□Applicable√N/A
39.Staffremunerationpayable
(1)Disclosureofstaffremunerationpayable
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Openingbalance | Increase | Decrease | Closingbalance |
| I.Short-termremuneration | 184,008,109.90 | 478,945,566.54 | 522,662,710.05 | 140,290,966.39 |
| II.Terminationbenefits-definedcontributionplan | - | 22,118,748.32 | 22,117,925.53 | 822.79 |
| III.Severancepay | - | 770,138.10 | 770,138.10 | - |
| IV.Otherbenefitsduewithinoneyear | - | - | - | - |
| Total | 184,008,109.90 | 501,834,452.96 | 545,550,773.68 | 140,291,789.18 |
(2)Disclosureofshort-termremuneration
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Openingbalance | Increase | Decrease | Closingbalance |
| I.Salary,bonuses,allowances,andsubsidies | 183,884,575.58 | 429,279,929.50 | 473,241,244.84 | 139,923,260.24 |
| Ⅱ.Employees’welfarebenefits | - | 16,279,904.02 | 16,279,904.02 | - |
| Ⅲ.Socialinsurance | - | 10,949,681.34 | 10,949,681.34 | - |
| Ofwhich:Medicalinsurance | - | 9,352,580.96 | 9,352,580.96 | - |
| Work-relatedinjuryinsurance | - | 608,972.55 | 608,972.55 | - |
| Maternityinsurance | - | 988,127.83 | 988,127.83 | - |
| Ⅳ.Housingprovidentfunds | - | 21,162,925.31 | 21,152,342.36 | 10,582.95 |
| Ⅴ.Tradeunionoutlaysandemployeeeducationoutlays | 123,534.32 | 1,273,126.37 | 1,039,537.49 | 357,123.20 |
| VI.Short-termpaidabsence | - | - | - | - |
| VII.Short-termprofit-sharingplan | - | - | - | - |
| Total | 184,008,109.90 | 478,945,566.54 | 522,662,710.05 | 140,290,966.39 |
/
(3)Disclosureofdefinedcontributionplans
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Openingbalance | Increase | Decrease | Closingbalance |
| 1.Basicpensioninsurance | - | 21,425,055.39 | 21,424,356.65 | 698.74 |
| 2.Unemploymentinsurance | - | 693,692.93 | 693,568.88 | 124.05 |
| 3.Annuitypayment | - | - | - | - |
| Total | - | 22,118,748.32 | 22,117,925.53 | 822.79 |
Othernotes:
□Applicable√N/A
40.Taxpayable
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Closingbalance | Openingbalance |
| VAT | 30,393,180.74 | 60,273,475.01 |
| Consumptiontax | - | - |
| Businesstax | - | - |
| Corporateincometax | 106,318,605.66 | 82,758,361.80 |
| Personalincometax | 1,437,773.58 | 1,908,417.14 |
| Urbanmaintenanceandconstructiontax | 1,977,119.84 | 3,806,546.78 |
| Urbangarbagedisposalcosts | 57,736.00 | 56,860.00 |
| Educationalsurcharge | 1,412,975.52 | 2,719,709.06 |
| Stamptax | 1,364,605.65 | 1,702,536.75 |
| Urbanlandusetax | 73,304.40 | 268,359.39 |
| Environmenttax | 111,498.42 | 206,349.12 |
| Propertytax | 1,651,357.41 | 1,704,499.33 |
| Others | - | 7,798.08 |
| Total | 144,798,157.22 | 155,412,912.46 |
Othernotes:
N/A
41.Otherpayables
(1)Itemlist
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Closingbalance | Openingbalance |
| Interestpayable | - | - |
| Dividendspayable | 2,300,000.00 | - |
| Otherpayables | 89,018,741.58 | 116,701,241.64 |
| Total | 91,318,741.58 | 116,701,241.64 |
Interestpayable
□Applicable√N/A
/
Dividendspayable
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Closingbalance | Openingbalance |
| Dividendsofordinaryshares | 2,300,000.00 | - |
| Total | 2,300,000.00 | - |
Othernotes,includingimportantdividendspayablethathavenotbeenpaidformorethanoneyear,shoulddisclosethereasonsforfailureofpayment:
N/AOtherpayables
(1)Disclosureofotherpayablesbynatureofpayment
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Closingbalance | Openingbalance |
| Obligationforrepurchaseofrestrictedshares | 74,571,400.00 | 74,571,400.00 |
| Investmentfundstobepaid | - | 27,000,000.00 |
| Engineeringretentionmoney,qualityassurancedeposit,earnestmoney,andsecuritydeposit | 9,170,568.78 | 8,830,425.82 |
| Equityincentivefundspendingcertification | - | 4,059,129.40 |
| Others | 5,276,772.80 | 2,240,286.42 |
| Total | 89,018,741.58 | 116,701,241.64 |
(2)Othersignificantpayableswithanagingofover1yearoroverdue
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Closingbalance | Reasonsfornon-repaymentorcarryover |
| Engineeringretentionmoney,qualityassurancedeposit,earnestmoney,andsecuritydeposit | 6,513,440.00 | Longtermcooperation,withextendedpaymentterm |
| Total | 6,513,440.00 | / |
Othernotes:
□Applicable√N/A
42.Held-for-saleliabilities
□Applicable√N/A
43.Non-currentliabilitiesdueinoneyear
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Closingbalance | Openingbalance |
| Long-termborrowingsduewithinoneyear | 76,830,239.17 | 93,763,615.82 |
| Bondspayableduewithinoneyear | - | - |
| Long-termpayablesduewithinoneyear | - | - |
/
| Leaseliabilitiesduewithinoneyear | 50,818,850.56 | 50,682,277.05 |
| Interestonbondspayableduewithinoneyear | 1,900,000.00 | 760,000.00 |
| Total | 129,549,089.73 | 145,205,892.87 |
Othernotes:
N/A
44.Othercurrentliabilities
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Closingbalance | Openingbalance |
| Outputtaxforchargeoff | 8,569,188.87 | 4,333,632.85 |
| Total | 8,569,188.87 | 4,333,632.85 |
Changeinshort-termbondspayable:
□Applicable√N/AOthernotes:
□Applicable√N/A
45.Long-termborrowings
(1)Classificationoflong-termborrowings
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Closingbalance | Openingbalance |
| Pledgedborrowings | - | - |
| Mortgagedborrowings | - | - |
| Guaranteedborrowings | - | - |
| Unsecuredborrowings | 319,027,747.75 | 141,007,258.34 |
| Total | 319,027,747.75 | 141,007,258.34 |
Notestotheclassificationoflong-termborrowings:
N/AOthernotes
□Applicable√N/A
46.Bondspayable
(1)Bondspayable
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Closingbalance | Openingbalance |
| Convertiblecorporatebonds | 998,084,628.12 | 969,066,247.00 |
| Total | 998,084,628.12 | 969,066,247.00 |
(2)Detailsofbondspayable:(excludingpreferredshares,perpetualbondsandotherfinancialinstrumentsclassifiedasfinancialliabilities)
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Bondname | Nominalvalue | Couponrate(%) | Dateofissue | Tenor | Amountissued | Openingbalance | Bondsissuedinthecurrentperiod | Interestaccruedatpar | Amortizationbasedonpremiu | Transfer-inofnon-current | RepaymentInthecurrentperiod | Closingbalance | Defaultornot |
/
| value | mordiscount | liabilitiesduewithinoneyear | |||||||||||
| AutowellConvertibleBonds | 100 | 0.2 | 2023/8/10 | 6年6years | 1,140,000,000.00 | 969,066,247.00 | - | 1,140,000.00 | 29,038,374.96 | -1,140,000.00 | -19,993.84 | 998,084,628.12 | 否No |
| Total | / | / | / | / | 1,140,000,000.00 | 969,066,247.00 | - | 1,140,000.00 | 29,038,374.96 | -19,993.84 | 998,084,628.12 | / |
(3)Notestoconvertiblecorporatebonds
√Applicable□N/A
| Item | Equityconversionconditions | Time. |
| WuxiAutowellTechnologyCo.,Ltd.issuesconvertiblecorporatebondstounspecifiedparties | 2.HoldersofconvertiblebondsmayexercisetherighttoconverttheconvertiblebondstosharesoftheCompanyatthecurrentpriceduringtheperiodfromthefirsttradingdayaftersixmonthsfromthedateofissuanceoftheconvertiblebondstothematuritydateoftheconvertiblebonds. | Startandenddates:fromFebruary19,2024toAugust9,2029(theoriginalstartdateofFebruary16,2024wasastatutoryholiday,butaccordingtotheProspectus,itshouldbepostponedtothefirsttradingdaythereafter,whichisFebruary19,2024). |
Basisforaccountingtreatmentandjudgmentofequityconversion
□Applicable√N/A
(4)NotestootherfinancialinstrumentsclassifiedasfinancialliabilitiesBasicinformationaboutotheroutstandingfinancialinstrumentssuchaspreferredsharesandperpetualbondsattheendoftheperiod
□Applicable√N/AChangesinoutstandingfinancialinstrumentssuchaspreferredsharesandperpetualbondsattheendoftheperiod
□Applicable√N/ANotestothebasisforclassificationofotherfinancialinstrumentsasfinancialliabilities
□Applicable√N/AOthernotes:
□Applicable√N/A
47.Leaseliabilities
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Closingbalance | Openingbalance |
| Leasingpayment | 49,110,800.96 | 57,305,281.98 |
| Less:Unrecognizedfinancingcosts | 1,381,403.49 | 2,284,378.83 |
| Total | 47,729,397.47 | 55,020,903.15 |
Othernotes:
N/A
/
48.Long-termpayablesItemlist
□Applicable√N/ALong-termpayables
□Applicable√N/ASpecialpayables
□Applicable√N/A
49.Long-termstaffremunerationpayable
□Applicable√N/A
50.Estimatedliabilities
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Openingbalance | Closingbalance | Reasonsforformation |
| Externalguarantees | - | - | |
| Pendingactions | - | - | |
| Productqualityassurance | 20,642,029.65 | 32,355,137.07 | Productqualityassurance |
| Obligationofrestructuring | - | - | |
| Loss-bearingcontractstobeexecuted | - | - | |
| Refundspayable | - | - | |
| Others | - | - | |
| Total | 20,642,029.65 | 32,355,137.07 | / |
Othernotes,includingmajorassumptions,estimatesandexplanationsrelatedtosignificantestimatedliabilities:
N/A
51.DeferredincomeDeferredincome
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Openingbalance | Increase | Decrease | Closingbalance | Reasonsforformation |
| Governmentgrants | 1,974,389.69 | - | 245,536.73 | 1,728,852.96 | Governmentgrants |
| Total | 1,974,389.69 | - | 245,536.73 | 1,728,852.96 | / |
Othernotes:
□Applicable√N/A
52.Othernon-currentliabilities
□Applicable√N/A
53.Sharecapital
□Applicable√N/A
Unit:Yuan,Currency:RMB
| Opening | Increase/decrease(+,-) | Closing |
/
| balance | Issuanceofnewshares | Bonusshares | Sharesconvertedfromsurplusreserves | Others | Subtotal | balance | |
| Totalnumberofshares | 224,811,240.00 | 584,290.00 | 89,838,026.00 | -800,466.00 | 89,621,850.00 | 314,433,090.00 |
Othernotes:
1.OnJanuary5,2024,theCompanyreleasedtheAnnouncementofWuxiAutowellTechnologyCo.,Ltd.ontheSecondAttributionPeriodoftheFirstReservedGrantofthe2021RestrictedShareIncentivePlanandtheAttributionResultsfortheFirstAttributionPeriodofthe2022RestrictedSharePlan,andtheListingofShares(AnnouncementNo.2024-003).Uponthecompletionofattributionandshareincentiveregistration,thetotalsharecapitaloftheCompanywaschangedfrom224,811,240sharesto224,892,432shares.
2.OnMarch15,2024,theCompanyreleasedtheAnnouncementofWuxiAutowellTechnologyCo.,Ltd.onImplementingShareRepurchaseCancellationandShareChanges(AnnouncementNo.2024-024).Uponthecompletionofsharerepurchasecancellation,thetotalsharecapitaloftheCompanywaschangedfrom224,892,432sharesto224,092,126shares.
3.OnApril3,2024,theCompanyreleasedtheAnnouncementofWuxiAutowellTechnologyCo.,Ltd.ontheResultsofConvertibleBondConversionandShareChanges(AnnouncementNo.2024-042).Uponthecompletionofconvertiblebondconversion,thetotalsharecapitaloftheCompanyincreasedfrom224,092,126sharesto224,092,158shares.
4.OnApril20,2024,theCompanyreleasedtheAnnouncementofWuxiAutowellTechnologyCo.,Ltd.ontheAttributionResultsfortheSecondAttributionPeriodoftheFirstGrantofthe2022RestrictedShareIncentivePlanandtheListingofShares(AnnouncementNo.2024-046).Uponthecompletionofattribution,thetotalsharecapitaloftheCompanyincreasedfrom224,092,158sharesto224,595,064shares.
5.OnMay14,2024,theCompanyreleasedtheAnnouncementofWuxiAutowellTechnologyCo.,Ltd.onImplementingthe2023AnnualEquityDistribution(AnnouncementNo.2024-054).ThelistingdateforthenewlyunrestrictednegotiableshareswouldbeMay20,2024.Afterthecompletionofequitydistribution,thetotalsharecapitaloftheCompanyincreasedfrom224,595,064sharesto314,433,090shares.
54.Otherequityinstruments
(1)Basicinformationaboutotheroutstandingfinancialinstrumentssuchaspreferredshares
andperpetualbondsattheendoftheperiod
√Applicable□N/A
TheCompanyhasissued11,400,000piecesofconvertiblecorporatebonds,eachwithaparvalueofRMB100.Duringthereportingperiod,atotalofRMB24,000bondswereconverted.AsofJune30,2024,thebalanceofconvertiblecorporatebondsreachedRMB1,139,976,000.ThechangesinotherequityinstrumentsinthecurrentperiodaredetailedinNoteVII,46BondsPayableoftheConsolidatedFinancialStatements.
(2)Changesinoutstandingfinancialinstrumentssuchaspreferredsharesandperpetual
bondsattheendoftheperiod
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Outstandingfinancialinstrume | Openingbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Closingbalance | ||||
| Number | Carryingvalue | Number | Carryingvalue | Number | Carryingvalue | Number | Carryingvalue | |
/
Changesinotherequityinstrumentsinthecurrentperiod,thereasonsforsuchchanges,andthebasisforrelevantaccountingtreatments:
√Applicable□N/ATheconvertiblecorporatebondsissuedbytheCompanyinAugust2023,attheinitialmeasurement,amountedtoRMB949,707,330.36afterdeductingthecorrespondingissuancecostsfromthefairvalueoftheliabilityportion,whichwereincludedinthebondspayable;andthefairvalueofthecorrespondingequityportion,afterdeductingthecorrespondingissuancecosts,reachedRMB183,205,877.19.Atthesametime,adeferredincometaxliabilityofRMB27,480,881.58wasrecognizedandincludedinotherequityinstrumentsofRMB155,724,995.61.TheamortizedcostoftheadjustedliabilityportionfortheperiodwasRMB29,038,374.96,calculatedbasedontheeffectiveinterestratemethod.AsofJune30,2024,atotalof269sharesofbondswereconverted,withthefairvalueofRMB24,000atthetimeofconversionwritingdownthebondspayable,theinterestadjustmentofRMB4,006.16writingdownthebondinterestpayable,andthefairvalueofRMB3,856.97ofequityinstrumentswritingdownotherequityinstruments.Othernotes:
□Applicable√N/A
55.Capitalreserve
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Openingbalance | Increase | Decrease | Closingbalance |
| Capitalpremium(equitypremium) | 1,121,820,728.38 | 55,185,710.65 | 160,651,196.78 | 1,016,355,242.25 |
| Othercapitalreserve | 287,120,339.52 | 30,364,954.57 | 26,358,102.97 | 291,127,191.12 |
| Total | 1,408,941,067.90 | 85,550,665.22 | 187,009,299.75 | 1,307,482,433.37 |
Othernotes,includingchangesinthecurrentperiodandreasonsforthechanges:
Note1:ThereasonsfortheincreaseofRMB55,185,710.65incapitalpremium(equitypremium)intheperiodareasfollows:(1)Asubsidiary(AutowellIntelligentEquipment)receivedcapitalincreasefromnon-controllingshareholders,resultinginanincreaseofRMB1,893,450.45incapitalreserve.
(2)Asubsidiary(XuRiTechnology)receivedcapitalincreasefromnon-controllingshareholders,resultinginanincreaseofRMB793,000.00incapitalreserve.
(3)Thesecondattributionforthefirstgrantofshareincentivesin2022couldmeettheprescribedconditionsforexercise,withRMB23,625,089.63transferredfromothercapitalreservetoequitypremium.
(4)Thesecondattributionforthefirstreservedgrantofshareincentivesin2021andthefirstattributionforthereservedgrantofshareincentivein2022couldmeettheprescribedconditionsforexercise,resultinginanincreaseofRMB3,977,937.40incapitalreserveduetotheexerciseofshareincentives.Thesecondattributionforthefirstgrantofshareincentivesin2022couldmeettheprescribedconditionsforexercise,resultinginanincreaseofRMB24,872,574.36incapitalreserveduetotheexerciseofshareincentives.
(5)TheconversionofconvertiblebondstosharesresultedinanincreaseofRMB23,658.81incapitalreserve.
| nts | ||||||||
| Issuanceofconvertiblebonds | 11,400,000.00 | 155,724,995.61 | 240.00 | 3,856.97 | 11,399,760.00 | 155,721,138.64 | ||
| Total | 11,400,000.00 | 155,724,995.61 | - | - | 240.00 | 3,856.97 | 11,399,760.00 | 155,721,138.64 |
/
Note2:ThereasonsforthedecreaseofthecapitalreservebyRMB160,651,196.78intheperiodarestatedasfollows:
(1)TheconversionofcapitalreservetosharecapitalintheperiodresultedinadecreaseofRMB89,838,026.00incapitalreserve.(2)Thewrite-offoftreasurysharesbytheCompanyintheperiodresultedinadecreaseofRMB70,813,170.78incapitalreserve.Note3:ThereasonsfortheincreaseofcapitalreservebyRMB30,364,954.57intheperiodarestatedasfollows:(1)TheCompany’srestrictedshareincentiveplanresultedinanincreaseofRMB30,342,541.47inothercapitalreserveduetotheinclusionofthecorrespondingserviceamountinprofitorlossbasedonthefairvalueofequityinstrumentsonthegrantdate.
(2)Itisexpectedthattherecognizedshare-basedpaymentcostsfortheperiodwouldexceedthepre-taxdeductibleshare-basedpaymentcostspursuanttotaxlaws,andthedeferredincometaxassetsrecognizedfortheexcesswouldbereversed,resultinginanincreaseofRMB22,413.10inothercapitalreserves.Note4:ThereductionofothercapitalreservebyRMB26,358,102.97intheperiodwascausedbythetransferfromothercapitalreservestosharecapitalduetotherestrictedshareincentivesmeetingtheprescribedexerciseconditions.
56.Treasuryshares
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Openingbalance | Increase | Decrease | Closingbalance |
| Sharerepurchase | 143,163,605.08 | 3,021,431.70 | 71,613,636.78 | 74,571,400.00 |
| Total | 143,163,605.08 | 3,021,431.70 | 71,613,636.78 | 74,571,400.00 |
Othernotes,includingchangesinthecurrentperiodandreasonsforthechanges:
N/A
57.Othercomprehensiveincome
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Openingbalance | Amountincurredintheperiod | Closingbalance | |||||
| Amountbeforeincometax | Less:previouslyincludedinothercomprehensiveincome,andcarriedovertoprofitorlossinthecurrentperiod | Less:previouslyincludedinothercomprehensiveincome,andtransferredtoretainedearningsinthecurrentperiod | Less:incometaxexpenses | Attributedtotheparentcompanyaftertax | Attributedtonon-controllingshareholdersaftertax | |||
| I.Othercomprehensiveincomethatcannotbereclassifiedintoprofitorloss | ||||||||
| Ofwhich:re-measuringtheamountofchangesinthedefinedbenefitplan | ||||||||
| Othercomprehensiveincomethatcannotbecarriedovertoprofitorlossundertheequitymethod | ||||||||
| Changesinfairvalueof | ||||||||
/
| investmentsotherequityinstruments | ||||||||
| Changesinfairvalueofenterprise’screditrisk | ||||||||
| II.Othercomprehensiveincomethatwillbereclassifiedintoprofitorloss | 401,818.53 | - | - | - | - | -1,844,288.81 | - | -1,442,470.28 |
| Ofwhich:othercomprehensiveincomethatcanbecarriedovertoprofitorlossundertheequitymethod | ||||||||
| Changesinfairvalueofotherdebtinvestments | ||||||||
| Amountofreclassifiedfinancialassetsincludedinothercomprehensiveincome | ||||||||
| Provisionforcreditimpairmentofotherdebtinvestments | ||||||||
| Hedgingreserveforcashflows | ||||||||
| Exchangedifferenceontranslatingforeignoperations | 401,818.53 | -1,844,288.81 | -1,442,470.28 | |||||
| Othercomprehensiveincomeintotal | 401,818.53 | - | - | - | - | -1,844,288.81 | - | -1,442,470.28 |
Othernotes,includingtheadjustmentoftheeffectiveportionofcashflowhedginggainsandlossestotheinitiallyrecognizedamountofthehedgeditem:
TheamountofothercomprehensiveincomeincurredintheperiodistheexchangeratedifferenceresultingfromthetranslationoforiginalcurrencystatementsofoverseassubsidiariesintoRMBstatements.
58.Specialreserve
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Openingbalance | Increase | Decrease | Closingbalance |
| Safeproductionexpenses | 8,543,300.96 | 6,440,251.47 | 2,125,111.07 | 12,858,441.36 |
| Total | 8,543,300.96 | 6,440,251.47 | 2,125,111.07 | 12,858,441.36 |
Othernotes,includingchangesinthecurrentperiodandreasonsforthechanges:
TheincreaseinspecialreservesisduetotheprovisionofsafeproductionexpensesduringthisperiodinaccordancewiththerelevantprovisionsofAdministrativeMeasuresforWithdrawalandUseofEnterpriseSafeProductionExpenses(CZ[2022]No.136)issuedbytheMinistryofFinance.
/
59.Surplusreserves
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Openingbalance | Increase | Decrease | Closingbalance |
| Statutorysurplusreserves | 112,405,620.00 | 44,810,925.00 | 157,216,545.00 | |
| Discretionarysurplusreserves | - | |||
| Reservefund | - | |||
| Enterprisedevelopmentfund | - | |||
| Others | - | |||
| Total | 112,405,620.00 | 44,810,925.00 | - | 157,216,545.00 |
Notestosurplusreserves,includingchangesinthecurrentperiodandreasonsforthechanges:
Statutorysurplusreserves:theincreaseisduetotheincreaseinadditionalreservesetasidebytheCompany.
60.Undistributedprofit
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinlastyear |
| Undistributedprofitattheendoflastperiodbeforeadjustment | 1,896,492,333.37 | 921,352,498.22 |
| Adjustmentoftotalundistributedprofitatthebeginningofperiod(increase+/decrease-) | 430,386.33 | |
| Undistributedprofitatthebeginningofperiodafteradjustment | 1,896,492,333.37 | 921,782,884.55 |
| Add:netprofitattributabletotheownerofparentcompany | 769,082,688.50 | 1,255,823,677.58 |
| Less:statutorysurplusreserves | 44,810,925.00 | 35,170,615.00 |
| Discretionarysurplusreserves | ||
| Generalriskreserve | ||
| Ordinarysharedividendspayable | 448,183,938.16 | 245,943,613.76 |
| Ordinarysharedividendsconvertedtosharecapital | ||
| Undistributedprofitattheendoftheperiod | 2,172,580,158.71 | 1,896,492,333.37 |
Adjustmentofundistributedprofitatthebeginningofperiod:
1.DuetotheretrospectiveadjustmentsundertheAccountingStandardsforBusinessEnterprisesandrelatednewregulations,undistributedprofitatthebeginningoftheperiodisaffectedbyRMB0.
2.Duetothechangesinaccountingpolicies,undistributedprofitatthebeginningoftheperiodisaffectedbyRMB0.
3.Duetothecorrectionofsignificantaccountingerrors,undistributedprofitatthebeginningoftheperiodisaffectedbyRMB0.
4.Duetothechangedscopeofconsolidationcausedbythesamecontrol,undistributedprofitatthebeginningoftheperiodisaffectedbyRMB0.
5.TheoverallimpactofotheradjustmentsontheundistributedprofitatthebeginningoftheperiodisRMB0.
/
61.Operatingincomeandoperatingcost
(1)Operatingincomeandoperatingcost
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinthepreviousperiod | ||
| Income | Cost | Income | Cost | |
| Mainbusiness | 4,411,838,105.04 | 2,922,360,744.33 | 2,517,107,488.04 | 1,594,808,333.75 |
| Otherbusiness | 5,860,012.22 | 1,668,080.00 | 378,881.82 | 205,474.11 |
| Total | 4,417,698,117.26 | 2,924,028,824.33 | 2,517,486,369.86 | 1,595,013,807.86 |
(2)Detailsofoperatingincomeandoperatingcost
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Contracttype | Total | |
| Operatingincome | Operatingcost | |
| Producttype | ||
| Photovoltaicequipment | 3,898,311,833.88 | 2,600,112,679.40 |
| Lithiumbattery/energystorageequipment | 131,450,792.92 | 86,653,453.25 |
| Semiconductor | 8,711,504.26 | 4,534,093.32 |
| Renovationandservices | 373,363,973.98 | 231,060,518.36 |
| Otherbusiness | 5,860,012.22 | 1,668,080.00 |
| Byoperatingarea | ||
| Domestic | 3,698,113,283.03 | 2,522,014,732.93 |
| Overseas | 719,584,834.23 | 402,014,091.40 |
| Bysaleschannels | ||
| Distribution | 275,205,534.60 | 152,408,034.26 |
| Directsales | 4,142,492,582.66 | 2,771,620,790.07 |
| Total | 4,417,698,117.26 | 2,924,028,824.33 |
Othersnotes
□Applicable√N/A
(3)Notestotheperformanceobligation
□Applicable√N/A
(4)Notestotheperformanceobligationofamortizingtotheremainder
□Applicable√N/A
(5)Majorcontractchangesorsignificanttransactionpriceadjustments
□Applicable√N/AOthersnotes:
N/A
62.Taxesandsurcharges
√Applicable□N/A
/
Unit:Yuan,Currency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinthepreviousperiod |
| Consumptiontax | ||
| Businesstax | ||
| Urbanmaintenanceandconstructiontax | 13,662,146.25 | 14,650,281.22 |
| Educationalsurcharge | 9,758,675.91 | 10,463,736.35 |
| Resourcetax | - | - |
| Propertytax | 3,531,033.92 | 2,179,317.50 |
| Landusetax | 536,718.78 | 76,024.47 |
| Vehicleandvesselusetax | 14,520.00 | 8,954.00 |
| Stamptax | 2,874,964.30 | 2,836,230.16 |
| Environmenttax | 283,456.02 | 822,396.31 |
| Others | 15,815.07 | - |
| Total | 30,677,330.25 | 31,036,940.01 |
Othersnotes:
N/A
63.Salesexpenses
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinthepreviousperiod |
| Staffremuneration | 26,997,087.31 | 17,515,182.25 |
| Equityincentiveexpenses | 2,375,367.22 | 2,452,351.74 |
| Warrantycosts | - | 27,975,501.87 |
| Businessentertainmentexpenses | 14,088,604.57 | 13,269,098.66 |
| Transportationandtravelexpenses | 4,615,612.06 | 5,279,016.06 |
| Freightandinsurance | 2,422,561.23 | 1,136,605.69 |
| Maintenanceexpensesfortrialperiod | 10,635,168.15 | 3,900,098.59 |
| Exhibitionexpenses | 5,695,581.86 | 2,930,131.73 |
| Depreciationexpenses | 409,928.72 | 370,411.57 |
| Others | 11,281,392.32 | 9,624,461.08 |
| Total | 78,521,303.44 | 84,452,859.24 |
Othersnotes:
N/A
64.Overheads
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinthepreviousperiod |
| Staffremuneration | 72,738,567.25 | 51,966,865.74 |
| Servicecharges | 17,818,243.35 | 11,264,107.23 |
| Equityincentiveexpenses | 7,897,190.12 | 9,947,272.20 |
| Leasingexpenses | 3,510,145.32 | 42,337.14 |
| Depreciationexpenses | 30,288,570.50 | 15,915,596.60 |
| Businessentertainmentexpenses | 6,208,438.61 | 6,275,931.39 |
| Transportationandtravelexpenses | 4,383,471.23 | 3,530,571.09 |
| Officeexpenses | 1,552,151.72 | 1,921,085.88 |
| Utilities | 1,375,810.95 | 1,680,039.65 |
/
| Trainingexpenses | 1,219,951.91 | 906,108.67 |
| Postalandtelecommunicationsexpenses | 555,170.33 | 501,821.43 |
| Taxes | 1,328,963.79 | 13,764.13 |
| Others | 8,837,525.34 | 5,523,042.22 |
| Total | 157,714,200.42 | 109,488,543.37 |
Othersnotes:
N/A
65.R&Dexpenses
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinthepreviousperiod |
| Staffremuneration | 125,919,520.05 | 85,365,609.11 |
| Materialconsumptioncosts | 23,816,585.64 | 24,282,011.56 |
| Equityincentiveexpenses | 6,853,244.23 | 10,395,691.50 |
| Technicalservicecosts | 3,960.40 | 209,551.82 |
| Depreciationexpenses | 13,225,315.98 | 2,980,210.48 |
| Transportationandtravelexpenses | 4,932,379.63 | 4,727,512.12 |
| Royaltiesandlicensefees | 1,468,881.29 | 1,122,208.22 |
| Others | 1,894,358.53 | 919,422.48 |
| Total | 178,114,245.75 | 130,002,217.29 |
Othersnotes:
N/A
66.Financialexpenses
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinthepreviousperiod |
| Interestexpenses | 22,306,651.86 | 10,825,832.63 |
| Ofwhich:interestexpensesonleaseliabilities | 1,704,023.13 | 2,305,215.43 |
| Less:interestincome | -6,806,134.18 | -3,442,183.96 |
| Exchangegainsorlosses | -4,457,157.60 | -4,029,387.19 |
| Others | 1,320,103.11 | 1,905,914.63 |
| Total | 12,363,463.19 | 5,260,176.11 |
Othersnotes:
N/A
67.Otherincome
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Bynature | Amountincurredinthecurrentperiod | Amountincurredinthepreviousperiod |
| Governmentgrants | 5,485,478.51 | 6,049,172.81 |
| VATrefundeduponbeinglevied | 57,538,979.77 | 66,238,942.20 |
| Value-addedtaxincentives | 34,768,324.83 | - |
| Total | 97,792,783.11 | 72,288,115.01 |
/
Othersnotes:
N/A
68.Investmentincome√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinthepreviousperiod |
| Incomefromlong-termequityinvestmentbasedonequitymethod | -4,273.97 | - |
| Investmentincomegeneratedfromdisposaloflong-termequityinvestments | - | - |
| Investmentincomefromtradingfinancialassetsduringtheholdingperiod | - | - |
| Dividendincomeobtainedfromotherequityinstrumentinvestmentsduringtheholdingperiod | - | - |
| Interestincomeobtainedfromdebtinvestmentsduringtheholdingperiod | - | - |
| Interestincomeobtainedfromotherdebtinvestmentsduringtheholdingperiod | - | - |
| Investmentincomeobtainedfromdisposaloftradingfinancialassets | - | - |
| Investmentincomeobtainedfromdisposalofotherequityinstrumentinvestments | - | - |
| Investmentincomeobtainedfromdisposalofdebtinvestments | - | - |
| Investmentincomeobtainedfromdisposalofotherdebtinvestments | - | - |
| Debtrestructuringincome | 1,134,950.39 | - |
| Investmentincomefromfinancialproducts | 2,744,796.98 | 10,219,424.43 |
| Investmentincomefromothernon-currentfinancialassetsduringtheholdingperiod | 729,283.23 | 42,000.00 |
| Total | 4,604,756.63 | 10,261,424.43 |
Othersnotes:
N/A
69.Nethedginggains
□Applicable√N/A
70.Gainsonfairvaluechanges
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Sourcesofgainsonfairvaluechanges | Amountincurredinthecurrentperiod | Amountincurredinthepreviousperiod |
| Tradingfinancialassets | 129,222.23 | 3,183,787.80 |
| Ofwhich:gainsonfairvaluechangesgeneratedbyderivativefinancialinstruments | ||
| Tradingfinancialliabilities | ||
| Investmentpropertiesmeasuredat |
/
| fairvalue | ||
| Othernon-currentfinancialassets | -24,139,210.91 | 358,083.72 |
| Total | -24,009,988.68 | 3,541,871.52 |
Othersnotes:
N/A
71.Incomefromdisposalofassets
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinthepreviousperiod |
| Gainsorlossesondisposaloffixedassets | - | |
| Gainsorlossesondisposalofright-of-useassets | -154,897.44 | |
| Total | -154,897.44 |
Othersnotes:
□Applicable√N/A
72.Creditimpairmentlosses
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinthepreviousperiod |
| Baddebtlossesonnotesreceivable | ||
| Baddebtlossesonaccountsreceivable | -80,998,141.35 | -18,739,586.91 |
| Baddebtlossesonotherreceivables | 1,080,950.98 | -425,753.27 |
| Impairmentlossesondebtinvestments | ||
| Impairmentlossesonotherdebtinvestments | ||
| Baddebtlossesonlong-termreceivables | ||
| Impairmentlossesrelatedtofinancialguarantees | ||
| Total | -79,917,190.37 | -19,165,340.18 |
Othersnotes:
N/A
73.Assetimpairmentlosses
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinthepreviousperiod |
| I.Impairmentlossesofcontractassets | ||
| II.Inventoryimpairmentlossesandcontractperformancecostimpairmentlosses | -86,934,706.66 | -26,919,530.72 |
| III.Impairmentlossesoflong-termequityinvestments |
/
| IV.Impairmentlossesofinvestmentproperties | ||
| V.Impairmentlossesoffixedassets | ||
| VI.Impairmentlossesofconstructionmaterials | ||
| VII.Impairmentlossesofconstructioninprogress | ||
| VIII.Impairmentlossesofproductivebiologicalassets | ||
| IX.Impairmentlossesofoilandgasassets | ||
| X.Impairmentlossesofintangibleassets | ||
| XI.Impairmentlossesofgoodwill | ||
| XII.Others | ||
| Total | -86,934,706.66 | -26,919,530.72 |
Othersnotes:
N/A
74.Non-operatingincome
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinthepreviousperiod | Amountincludedinnon-recurringgainsorlosses |
| Totalgainsondisposalofnon-currentassets | |||
| Ofwhich:gainsondisposaloffixedassets | |||
| Gainsondisposalofintangibleassets | |||
| Gainsondebtrestructuring | |||
| Gainsonexchangeofnon-monetaryassets | |||
| Receiptofdonations | |||
| Governmentgrants | |||
| Compensationincome | 64,645.41 | - | 64,645.41 |
| Others | 731,144.74 | 795,498.02 | 731,144.74 |
| Total | 795,790.15 | 795,498.02 | 795,790.15 |
Othersnotes:
□Applicable√N/A
75.Non-operatingexpenses
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Amountincurredinthe | Amountincurredinthe | Amountincludedin |
/
| currentperiod | previousperiod | non-recurringprofitsorlosses | |
| Totallossesondisposalofnon-currentassets | 9,509.96 | 216,908.89 | 9,509.96 |
| Ofwhich:lossesondisposaloffixedassets | 9,509.96 | - | 9,509.96 |
| Lossesondisposalofintangibleassets | - | - | - |
| Lossesondebtrestructuring | - | - | - |
| Lossesonexchangeofnon-monetaryassets | - | - | - |
| Externaldonations | 1,083,850.00 | 1,149,950.00 | 1,083,850.00 |
| Penaltyforlatepayment | 93,946.33 | 6,475,845.16 | 93,946.33 |
| Others | - | 10,776.46 | - |
| Total | 1,187,306.29 | 7,853,480.51 | 1,187,306.29 |
Othersnotes:
N/A
76.Incometaxexpenses
(1)Tableofincometaxexpenses
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinthepreviousperiod |
| Incometaxexpenses | 177,762,357.48 | 100,385,955.17 |
| Deferredincometaxexpenses | -34,083,050.76 | -20,243,853.24 |
| Total | 143,679,306.72 | 80,142,101.93 |
(2)Adjustmentprocessofaccountingprofitandincometaxexpenses
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Amountincurredinthecurrentperiod |
| Totalprofit | 947,267,990.33 |
| Incometaxexpensescalculatedatstatutory/applicabletaxrates | 142,090,198.55 |
| Impactofdifferenttaxratesonsubsidiaries | -713,885.21 |
| Impactofadjustingincometaxforpreviousperiods | - |
| Impactofnon-taxableincome | - |
| Impactofnon-deductiblecosts,expenses,andlosses | 3,646,061.22 |
| Impactofusingdeductiblelossesondeferredtaxassetsnotrecognizedpreviously | - |
| Impactofdeductibletemporarydifferencesordeductiblelossesondeferredtaxassetsunrecognizedinthecurrentperiod | 26,172,168.55 |
| TaxincentivesforR&Dexpenses | -27,515,236.39 |
/
| Incometaxexpenses | 143,679,306.72 |
Othersnotes:
□Applicable√N/A
77.Othercomprehensiveincome
√Applicable□N/APleasereferto“57.OtherComprehensiveIncome”in“VII.NotestoConsolidatedFinancialStatement”ofthisChapterfordetails.
78.Itemsoncashflowstatement
(1)CashrelatingtooperatingactivitiesOthercashreceivedrelatingtooperatingactivities
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinthepreviousperiod |
| Currentaccountsandadvances | 10,142,553.18 | 7,808,157.10 |
| Recoveryofmargin | 53,447,469.53 | 40,362,285.39 |
| Specialsubsidiesandgrants | 6,007,079.50 | 5,697,262.71 |
| Interestincome | 6,608,565.78 | 1,741,991.19 |
| Non-operatingincome | 791,203.34 | 406,341.14 |
| Total | 76,996,871.33 | 56,016,037.53 |
Notestoothercashreceivedrelatingtooperatingactivities:
N/AOthercashpaidrelatingtooperatingactivities
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinthepreviousperiod |
| Currentaccountsandadvances | 75,313,062.77 | 53,680,965.66 |
| Paymentofmargin | 14,328,400.00 | 31,417,949.21 |
| Salesexpenses | 43,477,860.91 | 35,920,501.14 |
| Overheads | 55,122,439.79 | 31,917,324.64 |
| Non-operatingexpenses | 1,090,000.00 | 7,462,483.63 |
| Bankcharges | 1,248,656.36 | 1,210,331.98 |
| Total | 190,580,419.83 | 161,609,556.26 |
Notestoothercashpaidrelatingtooperatingactivities:
N/A
(2)CashrelatingtoinvestingactivitiesSignificantcashreceivedrelatingtoinvestingactivities√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinthepreviousperiod |
| Cashandcashequivalentsofsubsidiariesonpurchasedate | - | 9,695,092.03 |
| Total | 9,695,092.03 |
Significantcashreceivedrelatingtoinvestingactivities
/
N/ASignificantcashpaidrelatingtoinvestingactivities
□Applicable√N/AOthercashreceivedrelatingtoinvestingactivities
□Applicable√N/AOthercashpaidrelatingtoinvestingactivities
□Applicable√N/A
(3)CashrelatingtofinancingactivitiesOthercashreceivedrelatingtofinancingactivities
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinthepreviousperiod |
| Shareincentivefundsreceived | 25,375,480.36 | 26,708,085.76 |
| Total | 25,375,480.36 | 26,708,085.76 |
Notestoothercashreceivedrelatingtofinancingactivities:
N/AOthercashpaidrelatingtofinancingactivities
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinthepreviousperiod |
| Paymentforsharerepurchase | 3,021,431.70 | 149,845,276.54 |
| Paymentforleaseliabilities | 31,950,580.98 | 25,411,075.82 |
| Total | 34,972,012.68 | 175,256,352.36 |
Notestoothercashpaidrelatingtofinancingactivities:
N/AChangesinvariousliabilitiesarisingfromfinancingactivities
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Openingbalance | Increaseinthecurrentperiod | Decrease | Closingbalance | ||
| Cashchange | Non-cashchange | Cashchange | Non-cashchange | |||
| Short-termborrowings | 519,737,547.82 | 156,500,000.00 | 503,291,703.32 | 75,700,000.00 | 312,432,993.75 | 791,396,257.39 |
| Long-termborrowingsandlong-termborrowingsduewithinoneyear | 234,770,874.16 | 161,476,242.40 | 1,591,994.03 | 1,520,000.00 | 461,123.67 | 395,857,986.92 |
| Bondspayable | 969,066,247.00 | 29,042,381.12 | 24,000.00 | 998,084,628.12 | ||
| Dividendspayable | - | 450,483,938.16 | 448,183,938.16 | 2,300,000.00 | ||
| Otherpayables-obligationofrestrictedsharerepurchase | 74,571,400.00 | 74,571,400.00 | ||||
/
| Leaseliabilitiesandleaseliabilitiesduewithinoneyear | 105,703,180.20 | 24,795,648.81 | 31,950,580.98 | 98,548,248.03 | ||
| Total | 1,903,849,249.18 | 317,976,242.40 | 1,009,205,665.44 | 557,354,519.14 | 312,918,117.42 | 2,360,758,520.46 |
(4)Notestocashflowspresentedonanetbasis
□Applicable√N/A
(5)Significantactivitiesandfinancialimpactsthatdonotinvolvecurrentcashinflowsandoutflowsinthecurrentperiod,butmayaffectthefinancialconditionoftheCompanyorpotentiallyimpactitsfuturecashflows
□Applicable√N/A
79.Supplementaryinformationforcashflowstatement
(1)Supplementaryinformationforcashflowstatement
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Supplementinformation | Amountincurredinthecurrentperiod | Amountincurredinthepreviousperiod |
| 1.Adjustingnetprofittocashflowsfromoperatingactivities: | ||
| Netprofit | 803,588,683.61 | 515,038,281.62 |
| Add:Provisionforimpairmentofassets | 86,934,706.66 | 26,919,530.72 |
| Creditimpairmentlosses | 79,917,190.37 | 19,165,340.18 |
| Depreciationoffixedassets,depletionofoilandgasassets,depreciationofproductivebiologicalassets | 37,319,695.76 | 17,126,663.24 |
| Amortizationofright-of-useassets | 27,244,773.22 | 21,428,971.05 |
| Amortizationofintangibleassets | 5,713,339.97 | 2,955,317.82 |
| Amortizationoflong-termdeferredexpenses | 16,807,742.15 | 6,299,173.90 |
| Lossesondisposaloffixedassets,intangibleassetsandotherlong-termassets(gainsindicatedby“-”) | 154,897.44 | - |
| Lossesonscrappingoffixedassets(gainsindicatedby“-”) | 9,509.96 | 216,908.89 |
| Lossesonchangeinfairvalue(gainsindicatedby“-”) | 24,009,988.68 | -3,541,871.52 |
| Financialexpenses(gainsindicatedby“-”) | 22,306,651.86 | 10,825,832.63 |
| Investmentlosses(gainsindicatedby“-”) | -4,604,756.63 | -10,261,424.43 |
| Decreaseofdeferredincometaxassets(increaseindicatedby“-”) | -28,459,606.68 | -23,339,938.17 |
| Increaseofdeferredincometaxliabilities(decreaseindicatedby“-”) | -5,645,857.18 | 7,028,125.38 |
| Decreaseofinventories(increaseindicatedby“-”) | 224,178,315.59 | -2,117,925,179.73 |
| Decreaseofoperatingreceivable | 181,113,828.90 | -504,254,413.69 |
/
| items(increaseindicatedby“-”) | ||
| Increaseofoperatingpayableitems(decreaseindicatedby“-”) | -1,346,852,119.57 | 2,267,480,334.68 |
| Others | -133,448,082.62 | 33,734,599.54 |
| Netcashflowsfromoperatingactivities | -9,711,098.51 | 268,896,252.11 |
| 2.Majorinvestingandfinancingactivitieswithoutinvolvingcashreceiptandpayment | ||
| Conversionofdebtstocapital | ||
| Convertiblecorporatebondsduewithinoneyear | ||
| Fixedassetsleasedunderfinanceleasing | ||
| 3.Netincrease/decreaseincashandcashequivalents: | ||
| Closingbalanceofcash | 1,681,555,725.45 | 560,232,888.64 |
| Less:openingbalanceofcash | 1,520,761,970.93 | 597,816,992.50 |
| Add:closingbalanceofcashequivalents | ||
| Less:openingbalanceofcashequivalents | ||
| Netincreaseincashandcashequivalents | 160,793,754.52 | -37,584,103.86 |
(2)Netcashpaidforacquisitionofsubsidiaryintheperiod
□Applicable√N/A
(3)Netcashreceivedfordisposalofsubsidiaryintheperiod
□Applicable√N/A
(4)Compositionofcashandcashequivalents
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Closingbalance | Openingbalance |
| I.Cash | 1,681,555,725.45 | 1,520,761,970.93 |
| Ofwhich:cashonhand | 394,157.19 | 387,917.07 |
| Bankdepositsreadyforpayment | 1,681,161,568.26 | 1,516,171,305.90 |
| Othermonetaryfundsreadyforpayment | - | 4,202,747.96 |
| Fundsduefromcentralbankavailableforpayment | ||
| Duefrombanksandotherfinancialinstitutions | ||
| Interbankborrowings | ||
| II.Cashequivalents | ||
| Ofwhich:bondinvestmentsduewithinthreemonths | ||
| III.Cashandcashequivalentsattheendoftheperiod | 1,681,555,725.45 | 1,520,761,970.93 |
| Ofwhich:cashandcashequivalentswithrestrictionsfortheparent | - | - |
/
(5)Thesituationwherethescopeofuseislimitedbutstillpresentedascashandcashequivalents
□Applicable√N/A
(6)Monetaryfundsnotclassifiedascashandcashequivalents
□Applicable√N/AOthersnotes:
□Applicable√N/A
80.Notestothestatementofchangesinowner’sequityProvidetheitemsof“others”adjustingtheclosingbalanceofthepreviousyearandtheadjustedamount:
□Applicable√N/A
81.Monetaryitemsdenominatedinforeigncurrencies
(1)Monetaryitemsdenominatedinforeigncurrencies
√Applicable□N/A
Unit:Yuan
companyorsubsidiariesoftheGroup
Item
| Item | Closingbalanceofforeigncurrencies | Exchangerate | TranslatedclosingbalanceofRMB |
| Monetaryfunds | - | - | 101,197,760.49 |
| Ofwhich:USD | 12,488,775.17 | 7.1268 | 89,005,002.90 |
| EUR | 32,749.15 | 7.6617 | 250,914.16 |
| HKD | - | 0.9127 | - |
| JPY | 43,337,821.00 | 0.044738 | 1,938,847.44 |
| SGD | 39,950.00 | 5.279 | 210,896.05 |
| MYR | 6,487,070.37 | 1.5095 | 9,792,099.94 |
| Accountsreceivable | - | - | 52,585,246.95 |
| Ofwhich:USD | 7,378,521.49 | 7.1268 | 52,585,246.95 |
| EUR | - | 7.6617 | - |
| HKD | - | 0.9127 | - |
| Otherreceivables | - | - | 1,065,994.45 |
| Ofwhich:USD | - | 7.1268 | - |
| EUR | - | 7.6617 | - |
| HKD | - | 0.9127 | - |
| MYR | 706,200.00 | 1.5095 | 1,065,994.45 |
| Accountspayable | - | - | 3,379,992.91 |
| Ofwhich:USD | 310,939.90 | 7.1268 | 2,216,006.48 |
| EUR | - | 7.6617 | - |
| HKD | - | 0.9127 | - |
| JPY | 19,440,000.00 | 0.044738 | 869,706.72 |
| MYR | 194,954.42 | 1.5095 | 294,279.71 |
| Notespayable | - | - | 230,617.17 |
| Ofwhich:USD | - | 7.1268 | - |
| EUR | 30,100.00 | 7.6617 | 230,617.17 |
| HKD | - | 0.9127 | - |
| Long-termborrowings | - | - | - |
| Ofwhich:USD | - | 7.1268 | - |
| EUR | - | 7.6617 | - |
| HKD | - | 0.9127 | - |
/
Othersnotes:
N/A
(2)Notestooverseasoperatingentities,includingdisclosureofprincipaloperatinglocation,functionalcurrency,andselectionbasisforimportantoverseasoperatingentities.Incaseofanychangeinfunctionalcurrency,thereasonsshouldalsobedisclosed
□Applicable√N/A
82.Lease
(1)Asalessee
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinthepreviousperiod |
| Interestexpensesonleaseliabilities | 1,704,023.13 | 4,579,834.34 |
| Short-termleaseexpenseswithsimplifiedtreatmentincludedinrelevantassetcostsorcurrentprofitsandlosses | 805,669.72 | 7,656,749.05 |
| Incomefromsubleasingright-of-useassets | - | 40,856.87 |
| Totalcashoutflowsrelatingtolease | 39,682,798.88 | 39,517,553.82 |
Variableleasepaymentsnotincludedinthemeasurementofleaseliabilities
□Applicable√N/ALeaseexpensesforshort-termleasesorlow-valueassetswithsimplifiedtreatment
□Applicable√N/ASale-leasebacktransactionsandjudgmentcriteria
□Applicable√N/ATotalcashoutflowsrelatingtoleasewithtotalamountofRMB39,682,798.88
(2)AsalessorOperatingleaseasalessor
□Applicable√N/AFinancingleaseasalessor
□Applicable√N/AAdjustmentstatementforundiscountedleasereceiptsandnetleaseinvestments
□Applicable√N/AUndiscountedleasereceiptsforthenextfiveyears
□Applicable√N/A
(3)Profitorlossoffinancingleasesalesrecognizedasamanufacturerordistributor
□Applicable√N/AOthersnotesN/A
/
83.Dataresource
□Applicable√N/A
84.Others
□Applicable√N/A
/
VIII.R&Dexpenses
(1)Listedbytypeofcost
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Currentamountincurred | Amountincurredinthepreviousperiod |
| Staffremuneration | 125,919,520.05 | 85,365,609.11 |
| Materialconsumptioncosts | 23,816,585.64 | 24,282,011.56 |
| Equityincentiveexpenses | 6,853,244.23 | 10,395,691.50 |
| Technicalservicecosts | 3,960.40 | 209,551.82 |
| Depreciationexpenses | 13,225,315.98 | 2,980,210.48 |
| Transportationandtravelexpenses | 4,932,379.63 | 4,727,512.12 |
| Royaltiesandlicensefees | 1,468,881.29 | 1,122,208.22 |
| Others | 1,894,358.53 | 919,422.48 |
| Total | 178,114,245.75 | 130,002,217.29 |
| Ofwhich:expensedresearch&developmentexpenses | 178,114,245.75 | 130,002,217.29 |
| Capitalizedresearch&developmentexpenses |
Othernotes:
N/A
(2)R&Dprojectdevelopmentexpensesthatmeettherequirementsforcapitalization
□Applicable√N/AImportantcapitalizedresearch&developmentprojects
□Applicable√N/AProvisionforimpairmentofdevelopmentexpenses
□Applicable√N/AOthersN/A
(3)Importantoutsourcedresearchitems
□Applicable√N/AIX.Changeinthescopeofconsolidation
1.Mergerofenterprisesnotundercommoncontrol
□Applicable√N/A
2.Mergerofenterprisesundercommoncontrol
□Applicable√N/A
3.Reversepurchase
□Applicable√N/A
/
4.DisposalofsubsidiariesIsthereanytransactionoreventinvolvingthelossofcontrolofasubsidiaryinthisperiod
□Applicable√N/AOthernotes:
□Applicable√N/AWhetherthereisacasewhereinvestmentsinsubsidiariesaredisposedofinstagesthroughmultipletransactionsandcontrolislostinthecurrentperiod
□Applicable√N/AOthernotes:
□Applicable√N/A
5.ChangesinthescopeofconsolidationduetootherreasonsNotestothechangesinthescopeofconsolidationduetootherreasons(suchastheestablishmentofnewsubsidiaries,liquidationofsubsidiaries,etc.)andtheirrelevantinformation:
□Applicable√N/A
6.Others
□Applicable√N/A
/
X.Equityinotherentities
1.Equityinsubsidiaries
(1)Compositionofenterprisegroups
√Applicable□N/A
Unit:millionYuan,Currency:RMB
| Subsidiaryname | Mainbusinesslocation | Registeredcapital | Registeredaddress | Businessnature | Shareholdingratio(%) | Acquisitionmethod | |
| Direct | Indirect | ||||||
| IntelligentEquipment | WuxiCity | 36.42 | WuxiCity | Research&development,manufacturing,sales,andtechnicalservicesoflithiumbatteryequipment | 82.37 | Acquisition | |
| OpticalApplications | WuxiCity | 13.00 | WuxiCity | Technicaldevelopmentandservices | 76.92 | Establishmentthroughinvestment | |
| SupplyChainManagement | WuxiCity | 10.00 | WuxiCity | Supplychainmanagementservices | 100.00 | Establishmentthroughinvestment | |
| SongciElectromechanical | WuxiCity | 20.86 | WuxiCity | Researchandexperimentdevelopment | 40.6258 | Acquisition | |
| XuRiTechnology | WuxiCity | 30.00 | WuxiCity | Technologypromotionandapplicationserviceindustry | 72.00 | Establishmentthroughinvestment | |
| CoshinTechnology | WuxiCity | 20.00 | WuxiCity | Researchandexperimentdevelopment | 71.50 | Establishmentthroughinvestment | |
| LeddoTechnology | WuxiCity | 25.28 | WuxiCity | Researchandexperimentdevelopment | 70.55 | Acquisition | |
| ZhiyuanEquipment | WuxiCity | 20.00 | WuxiCity | Electricalmachineryandequipmentmanufacturing | 70.00 | Establishmentthrou | |
/
| industry | ghinvestment | ||||||
| QinhuangdaoZhiyuan | QinhuangdaoCity | 20.00 | QinhuangdaoCity | Electricalmachineryandequipmentmanufacturingindustry | 70.00 | Establishmentthroughinvestment | |
| JiexinTechnology | WuxiCity | 25.00 | WuxiCity | Technologypromotionandapplicationserviceindustry | 62.00 | Establishmentthroughinvestment | |
| WuxiPolar | WuxiCity | 50.00 | WuxiCity | Manufacturingofphotovoltaicequipmentandcomponents | 61.00 | 20.00 | Establishmentthroughinvestment |
| PolarNewEnegry | BengbuCity | 154.43 | BengbuCity | Lithiumionbatterymanufacturing | 100.00 | Purchase | |
| WuhuPolarPhotovoltaicPowerGenerationCo.,Ltd. | WuhuCity | 10.00 | WuhuCity | Solarphotovoltaicpowergenerationandpowersales | 100.00 | Purchase | |
| BeijingLinkongPolarEnergyManagementCo.,Ltd. | BeijingCity | 20.00 | BeijingCity | Solarphotovoltaicpowergenerationandpowersales | 100.00 | Purchase | |
| PolarNewEnegry(Foshan)Co.,Ltd. | FoshanCity | 10.00 | FoshanCity | Research&development,manufacturing,andsystemintegrationofdistributedpowersupplyequipment | 100.00 | Purchase | |
| ZhengzhouPolarNewEnegryCo.,Ltd. | ZhengzhouCity | 5.00 | ZhengzhouCity | Engineeringandtechnicalresearchandexperimentdevelopment | 100.00 | Purchase | |
| AnhuiHengzhiCopper-Indium-Gallium-SeleniumTechnologyCo.,Ltd | BengbuCity | 40.00 | BengbuCity | Solarphotovoltaicpowergenerationandpowersales | 42.50 | Purchase | |
| AUTOWELLJapan | Japan | 14.66 | Japan | Research& | 100.00 | Establ |
/
| developmentandsalesofphotovoltaic,semiconductorequipmentandsupportingmaterials | ishmentthroughinvestment | ||||||
| Autowell(Singapore) | Singapore | 109.50 | Singapore | Trade,management,andservicesofautomatedequipmentandrelateditems | 100.00 | Establishmentthroughinvestment | |
| AUTOWELL(Malaysia) | Malaysia | 0.0030 | Malaysia | Research&development,production,andsalesofautomatedequipmentandrelatedhardwareandsoftware | 85.00 | Establishmentthroughinvestment |
Notestothedifferencebetweentheshareholdingratioandvotingrightsratioinsubsidiaries:
N/AThebasisforholdinghalforlessofthevotingrightsbutstillcontrollingtheinvestedentity,andforholdingmorethanhalfofthevotingrightsbutnotcontrollingtheinvestee:
Thenumberofdirectorsdispatchedexceeds50%ofthetotalnumberofdirectors.Forimportantstructuredentitiesincludedintheconsolidationscope,thebasisforcontrolis:
N/AThebasisfordeterminingwhetheracompanyisanagentoraprincipal:
N/AOthernotes:
AUTOWELLJapanCo.,Ltd.Registeredcapital:JPY300million;Autowell(Singapore)PTE.LTD.Registeredcapital:USD15million;AUTOWELL(MALAYSIA)SDN.BHD.Registeredcapital:MYR2,000.OnJuly24,2024,theregisteredcapitalofAUTOWELL(Malaysia)waschangedtoMYR7,626,294.
(2)Importantnon-wholly-ownedsubsidiaries
√Applicable□N/A
Unit:millionYuan,Currency:RMB
| Subsidiaryname | Shareholdingrationon-controllingshareholder(%) | Gainsandlossesattributabletonon-controllingshareholdersinthecurrentperiod | Dividendsdeclaredfordistributiontonon-controllingshareholdersinthecurrentperiod | Closingbalanceofnon-controllingshareholders’equity |
| IntelligentEquipment | 17.6265% | -1.87 | - | -19.96 |
| OpticalApplications | 23.0769% | -4.72 | - | -10.94 |
| Songci | 59.3742% | 60.21 | - | 117.68 |
/
| Electromechanical | ||||
| XuRiTechnology | 28.0000% | -12.28 | - | -28.16 |
| CoshinTechnologySemiconductor | 28.5000% | -2.70 | - | -1.22 |
| LeddoTechnology | 29.4500% | -1.32 | - | 12.23 |
| WuxiZhiyuan | 30.0000% | -0.73 | - | 3.27 |
| JiexinTechnology | 38.0000% | -4.52 | - | 13.90 |
| WuxiPolar | 81.0000% | -0.25 | - | 1.25 |
Notestothedifferencebetweentheshareholdingratioofnon-controllingshareholdersinasubsidiaryandthevotingrightsratio:
□Applicable√N/AOthernotes:
□Applicable√N/A
(3)Mainfinancialinformationofimportantnon-wholly-ownedsubsidiaries
√Applicable□N/A
Unit:millionYuan,Currency:RMB
| Subsidiaryname | Closingbalance | Openingbalance | ||||||||||
| Currentassets | Non-currentassets | Totalassets | Currentliabilities | Non-currentliabilities | Totalliabilities | Currentassets | Currentassets | Totalassets | Currentliabilities | Non-currentliabilities | Totalliabilities | |
| IntelligentEquipment | 663.12 | 40.69 | 703.81 | 806.20 | 10.66 | 816.85 | 666.47 | 50.50 | 716.97 | 812.66 | 16.34 | 829.00 |
| OpticalApplications | 76.12 | 3.40 | 79.53 | 124.69 | - | 124.69 | 83.09 | 3.39 | 86.48 | 111.63 | - | 111.63 |
| SongciElectromechanical | 2,894.99 | 32.73 | 2,927.73 | 2,706.30 | 17.34 | 2,723.65 | 2,460.98 | 21.45 | 2,482.43 | 2,375.50 | 8.39 | 2,383.89 |
| XuRiTechnology | 2,019.46 | 45.74 | 2,065.20 | 2,154.10 | 5.65 | 2,159.75 | 1,891.06 | 39.64 | 1,930.69 | 1,978.40 | 6.07 | 1,984.47 |
| CoshinTechnology | 139.98 | 11.46 | 151.44 | 150.81 | - | 150.81 | 126.23 | 7.06 | 133.28 | 124.21 | 0.00 | 124.21 |
| LeddoTechnology | 39.26 | 5.70 | 44.97 | 7.52 | - | 7.52 | 40.43 | 4.37 | 44.80 | 2.86 | 0.01 | 2.87 |
| WuxiZhiyuan | 95.35 | 14.00 | 109.35 | 94.53 | 1.59 | 96.12 | 30.24 | 10.47 | 40.71 | 22.90 | 2.15 | 25.05 |
| JiexinTechnology | 8.52 | 28.44 | 36.96 | 0.39 | - | 0.39 | 24.77 | 23.90 | 48.67 | 0.20 | - | 0.20 |
| WuxiPolar | 62.33 | 0.24 | 62.58 | 38.06 | - | 38.06 | ||||||
Subsidiary
name
| Subsidiaryname | Amountincurredinthecurrentperiod | Amountincurredinthepreviousperiod | ||||||
| Operatingincome | Netprofit | Totalcomprehensiveincome | Cashflowfromoperatingactivities | Operatingincome | Netprofit | Totalcomprehensiveincome | Cashflowfromoperatingactivities | |
| Intelligent | 143.80 | -10.60 | -10.60 | -6.86 | 184.74 | 2.37 | 2.37 | 3.17 |
/
| equipment | ||||||||
| OpticalApplications | 1.05 | -20.44 | -20.44 | -20.07 | 0.22 | -8.80 | -8.80 | 25.65 |
| SongciElectromechanical | 607.56 | 101.41 | 101.41 | -22.05 | 156.89 | -3.42 | -3.42 | 57.30 |
| XuRiTechnology | 334.72 | -43.85 | -43.85 | -119.06 | 105.41 | -14.97 | -14.97 | -39.16 |
| CoshinTechnology | 11.18 | -9.46 | -9.46 | -16.90 | 8.13 | -3.21 | -3.21 | -29.04 |
| LeddoTechnology | 0.99 | -4.48 | -4.48 | -9.08 | 0.00 | -0.37 | -0.37 | -11.14 |
| WuxiZhiyuan | 3.73 | -2.44 | -2.44 | 3.12 | - | -0.80 | -0.80 | 0.15 |
| JiexinTechnology | - | -11.90 | -11.90 | -12.52 | - | - | - | - |
| WuxiPolar | - | -1.31 | -1.31 | -1.01 | - | - | - | - |
Othernotes:
N/A
(4)Majorrestrictionsontheuseofenterprisegroupassetsandtheliquidationofenterprisegroupliabilities:
□Applicable√N/A
(5)Financialorothersupportprovidedforstructuredentitiesincludedinthescopeofconsolidatedfinancialstatements:
□Applicable√N/AOthernotes:
□Applicable√N/A
2.Transactionsinwhichtheowner'sequityshareofasubsidiarychangesandtheyarestillcontrollingthesubsidiary
□Applicable√N/A
3.Equityinjointventuresorassociates
□Applicable√N/A
4.Importantjointoperation
□Applicable√N/A
5.EquityinstructuredentitiesnotincludedinthescopeofconsolidatedfinancialstatementsNotestostructuredentitiesnotincludedinthescopeofconsolidatedfinancialstatements:
□Applicable√N/A
6.Others
□Applicable√N/AXI.Governmentgrants
1.Governmentgrantsrecognizedasaccountsreceivableattheendofthereportperiod
□Applicable√N/AReasonfornotreceivingtheexpectedamountofgovernmentgrantsattheexpectedtime
□Applicable√N/A
2.Debtprojectsinvolvinggovernmentgrants
□Applicable√N/A
3.Governmentgrantsincludedincurrentgainsandlosses
√Applicable□N/A
/
Unit:Yuan,Currency:RMB
| Type | Amountincurredinthecurrentperiod | Amountincurredinthepreviousperiod |
| Relatedtoassets | 245,536.73 | 246,731.02 |
| Relatedtoincome | 97,547,246.38 | 72,041,383.99 |
| Total | 97,792,783.11 | 72,288,115.01 |
Othernotes:
N/AXII.Risksrelatedtofinancialinstruments
1.Riskoffinancialinstruments
√Applicable□N/ATheCompanyisexposedtovariousfinancialrisksintheoperation,includingcreditrisk,marketrisk,andliquidityrisk.TheboardofdirectorsoftheCompanyisfullycommittedtoidentifyingriskmanagementobjectivesandpolicies,andbearsultimateresponsibilityforriskmanagementobjectivesandpolicies.TheinternalauditorsoftheCompanyalsoauditriskmanagementpoliciesandprocedures,andreportrelevantfindingstotheauditcommittee.
TheoverallobjectiveoftheCompany’sriskmanagementistodevelopriskmanagementpoliciesthatminimizeriskswithoutexcessivelyaffectingitscompetitivenessandadaptability.(i)Creditrisk
Creditriskreferstotheriskthatonepartyofafinancialinstrumentfailstofulfillitsobligations,resultinginfinanciallossesfortheotherparty.TheCompanymainlyfacescustomercreditriskcausedbycreditsales.Beforesigninganewcontract,itwillassessthecreditriskofnewcustomers,includingexternalcreditratingsand,insomecases,bankcreditcertificates(whenthisinformationisavailable).(ii)Liquidityrisk
Liquidityriskreferstotheriskofashortageoffundswhenanenterprisefulfillsitsobligationtosettlebydeliveringcashorotherfinancialassets.TheCompanyiscommittedtoensuringsufficientcashtorepaymaturingdebts.LiquidityriskiscentrallycontrolledbythefinancedepartmentoftheCompany.ThefinancedepartmentensuresthattheCompanyhassufficientfundstorepayitsdebtsunderallreasonablepredictionsbymonitoringcashbalances,readilyconvertiblesecurities,androllingforecastsofcashflowsforthenext12months.
AsofJune30,2024,variousfinancialliabilitiesoftheCompanyarepresentedasfollowsbasedonundiscountedcontractcashflowsandmaturitydates:
Unit:Yuan,Currency:RMB
| Item | Closingbalance | ||||
| Within1year | 1-2years | 2-5years | Over5years | Total | |
| Accountspayable | 3,235,214,998.79 | - | - | - | 3,235,214,998.79 |
| Otherpayables | 91,318,741.59 | - | - | - | 91,318,741.59 |
| Non-currentliabilitiesduewithinoneyear | 133,506,681.24 | - | - | - | 133,506,681.24 |
| Leaseliabilities | - | 47,625,117.14 | 14,346,909.39 | - | 61,972,026.53 |
| Total | 3,460,040,421.62 | 47,625,117.14 | 14,346,909.39 | - | 3,522,012,448.15 |
Item
| Item | Year-endbalanceofthepreviousyear | ||||
| Within1year | 1-2years | 2-5years | Over5years | Total | |
| Accountspayable | 3,243,847,123.75 | - | - | - | 3,243,847,123.75 |
| Otherpayables | 116,701,241.64 | - | - | - | 116,701,241.64 |
/
| Non-currentliabilitiesduewithinoneyear | 147,298,187.75 | - | - | - | 147,298,187.75 |
| Leaseliabilities | - | 63,411,824.65 | 10,144,243.16 | - | 73,556,067.81 |
| Total | 3,507,846,553.14 | 63,411,824.65 | 10,144,243.16 | - | 3,581,402,620.95 |
(iii)Marketrisk
Themarketriskoffinancialinstrumentsreferstotheriskoffluctuationsinthefairvalueorfuturecashflowsoffinancialinstrumentsduetochangesinmarketprices,includingexchangeraterisk,interestraterisk,andotherpricerisks.
1.Interestraterisk
Interestrateriskreferstotheriskoffluctuationsinthefairvalueorfuturecashflowsoffinancialinstrumentsduetochangesinmarketinterestrates.TheinterestrateriskfacingtheCompanymainlycomesfromshort-termbankloans.TheCompanyiscommittedtoidentifyingtherelativeproportionoffixedrateandfloatingratecontractsbasedonthemarketenvironmentthen.AlthoughthispolicycannotcompletelysteertheCompanyawayfromtheriskofinterestratespaymentexceedingcurrentmarketrates,norcanitcompletelyeliminatethecashflowriskassociatedwithfluctuationsininterestpayment,themanagementbelievesthatthispolicyachievesareasonablebalancebetweentheserisks.
2.Exchangeraterisk
Exchangerateriskreferstotheriskoffluctuationsinthefairvalueorfuturecashflowsoffinancialinstrumentsduetochangesinforeignexchangerates.OurCompanystrivestomatchforeigncurrencyincomewithforeigncurrencyexpensesasmuchaspossibletoreduceexchangeraterisk.Inaddition,theCompanymayalsosignforwardforeignexchangecontractsorcurrencyswapcontractstoavoidexchangeraterisks.Duringthereportingperiod,theCompanydidnotsignanyforwardforeignexchangecontractsorcurrencyswapcontracts.
TheexchangerateriskfacingtheCompanymainlycomesfromfinancialassetsandliabilitiesdenominatedinUSdollars.TheamountofforeigncurrencyfinancialassetsandliabilitiesconvertedintoRMBislistedasfollows:
| Item | Closingbalance | Year-endbalanceofthepreviousyear | ||||
| USD | Otherforeigncurrencies | Total | USD | Otherforeigncurrencies | Total | |
| Monetaryfunds | 89,005,002.90 | 12,192,757.59 | 101,197,760.49 | 301,124,050.73 | 2,380,322.76 | 303,504,373.49 |
| Accountsreceivable | 52,585,246.95 | - | 52,585,246.95 | 111,668,163.25 | - | 111,668,163.25 |
| Otherrece | - | 1,065,994.45 | 1,065,994.45 | 14,165.40 | 2,901.56 | 17,066.96 |
/
| ivables | ||||||
| accountspayable | 2,216,006.48 | 1,163,986.43 | 3,379,992.91 | 6,055,885.21 | 3,096,216.45 | 9,152,101.66 |
| Total | 139,374,243.37 | 12,094,765.61 | 151,469,008.98 | 406,750,494.17 | -712,992.13 | 406,037,502.04 |
3.Otherpricerisks
Otherpriceriskreferstotheriskoffluctuationsinthefairvalueorfuturecashflowsoffinancialinstrumentsduetomarketpricechangesotherthanexchangerateriskandinterestraterisk.
2.Hedging
(1)TheCompanyconductshedgingbusinessforriskmanagement
□Applicable√N/AOthernotes
□Applicable√N/A
(2)TheCompanyconductseligiblehedgingbusinessandapplieshedgingaccounting
□Applicable√N/AOthernotes
□Applicable√N/A
(3)TheCompanycarriesouthedgingbusinessforriskmanagementandexpectstoachieveriskmanagementgoalsbutdoesnotapplyhedgeaccounting
□Applicable√N/AOthernotes
□Applicable√N/A
3.Financialassettransfer
(1)ClassificationofTransferMethods
□Applicable√N/A
(2)Financialassetsthathavebeenderecognizedduetotransfer
□Applicable√N/A
(3)Transferoffinancialassetscontinuouslyinvolved
□Applicable√N/AOthernotes
□Applicable√N/AXIII.Disclosureoffairvalue
/
1.Closingfairvalueofassetsandliabilitiesmeasuredatfairvalue
√Applicable□N/A
Unit:millionYuan,Currency:RMB
| Item | Fairvalueattheendoftheperiod | |||
| First-levelfairvaluemeasurement | Second-levelfairvaluemeasurement | Third-levelfairvaluemeasurement | Total | |
| I.Continuousfairvaluemeasurement | ||||
| (i)Tradingfinancialassets | 0.00 | 220.06 | 0.00 | 220.06 |
| 1.Financialassetsmeasuredatfairvaluewithchangesincludedincurrentprofitsandlosses | 0.00 | 220.06 | 0.00 | 220.06 |
| (1)Debtinstrumentinvestment | 0.00 | 0.00 | 0.00 | 0.00 |
| (2)Equityinstrumentinvestment | 0.00 | 0.00 | 0.00 | 0.00 |
| (3)Derivativefinancialassets | 0.00 | 0.00 | 0.00 | 0.00 |
| (4)Others | 0.00 | 220.06 | 0.00 | 220.06 |
| 2.Designatedasfinancialliabilitiesmeasuredatfairvaluewithchangesrecognizedincurrentprofitsandlosses | 0.00 | 0.00 | 0.00 | 0.00 |
| (1)Debtinstrumentinvestment | 0.00 | 0.00 | 0.00 | 0.00 |
| (2)Equityinstrumentinvestment | 0.00 | 0.00 | 0.00 | 0.00 |
| (ii)Accountsreceivablefinancing | 0.00 | 0.00 | 593.76 | 593.76 |
| (iii)Othernon-currentfinancialassets | 28.54 | 0.00 | 132.59 | 161.13 |
| 1.Designatedasfinancialliabilitiesmeasuredatfairvaluewithchangesrecognizedincurrentprofitsandlosses | 28.54 | 0.00 | 132.59 | 161.13 |
| (1)Debtinstrumentinvestment | 0.00 | 0.00 | 20.97 | 20.97 |
| (2)Equityinstrumentinvestment | 28.54 | 0.00 | 111.62 | 140.16 |
| (iv)Otherdebtinvestments | 0.00 | 0.00 | 0.00 | 0.00 |
| (v)Otherequityinstrumentinvestments | 0.00 | 0.00 | 0.00 | 0.00 |
| (vi)Investmentproperties | 0.00 | 0.00 | 0.00 | 0.00 |
| 1.Landuserightsforrentalpurposes | 0.00 | 0.00 | 0.00 | 0.00 |
| 2.Rentedbuildings | 0.00 | 0.00 | 0.00 | 0.00 |
| 3.Landuserightsheldandpreparedfortransferafterappreciation | 0.00 | 0.00 | 0.00 | 0.00 |
| (vii)Biologicalassets | 0.00 | 0.00 | 0.00 | 0.00 |
| 1.Consumablebiologicalassets | 0.00 | 0.00 | 0.00 | 0.00 |
| 2.Productivebiologicalassets | 0.00 | 0.00 | 0.00 | 0.00 |
| Totalassetscontinuouslymeasuredatfairvalue | 28.54 | 220.06 | 726.35 | 974.95 |
| (viii)Tradingfinancialliabilities | 0.00 | 0.00 | 0.00 | 0.00 |
| 1.Financialliabilitiesmeasuredatfairvaluewithchangesincludedincurrentprofitsand | 0.00 | 0.00 | 0.00 | 0.00 |
/
| losses | ||||
| Ofwhich:Issuedtradingbonds | 0.00 | 0.00 | 0.00 | 0.00 |
| Derivativefinancialliabilities | 0.00 | 0.00 | 0.00 | 0.00 |
| Others | 0.00 | 0.00 | 0.00 | 0.00 |
| 2.Designatedasfinancialliabilitiesmeasuredatfairvaluewithchangesrecognizedincurrentprofitsandlosses | 0.00 | 0.00 | 0.00 | 0.00 |
| Totalliabilitiescontinuouslymeasuredatfairvalue | 0.00 | 0.00 | 0.00 | 0.00 |
| II.Non-continuousfairvaluemeasurement | 0.00 | 0.00 | 0.00 | 0.00 |
| (i)Holdingassetsforsale | 0.00 | 0.00 | 0.00 | 0.00 |
| Totalamountofassetsnotcontinuouslymeasuredatfairvalue | 0.00 | 0.00 | 0.00 | 0.00 |
| Totalliabilitiesnotcontinuouslymeasuredatfairvalue | 0.00 | 0.00 | 0.00 | 0.00 |
2.Basisfordeterminingthemarketvalueofcontinuousandnon-continuousfirst-levelfairvaluemeasurementitems
√Applicable□N/ATheCompany’sothernon-currentfinancialassetsarelistedcompanystocks,andtheirfairvalueistheclosingpriceonthestockexchange.
3.Thevaluationtechniquesandqualitativeandquantitativeinformationofimportantparametersadoptedinthecontinuousandnon-continuoussecond-levelfairvaluemeasurementitems
√Applicable□N/A
Unit:millionYuan,Currency:RMB
| Item | Closingfairvalue | Valuationtechniques | Importantparameters | |
| Qualitativeinformation | Quantitativeinformation | |||
| Financialproducts | 220.06 | Discountedcashflowmethod | Contractorcomparableexpectedrateofreturn | Interestrate |
4.Thevaluationtechniquesandqualitativeandquantitativeinformationofimportantparametersadoptedinthecontinuousandnon-continuousthird-levelfairvaluemeasurementitems
√Applicable□N/A
Unit:millionYuan,Currency:RMB
| Item | Closingfairvalue | Valuationtechniques | Unobservableinputvalue |
| Accountsreceivablefinancing | 593.76 | Carryingvalue | N/A |
| EquityofWuxiSongyuTechnologyCo.,Ltd. | 101.60 | RecentFinancingPriceMethod | Recentfinancingprices |
| EquityofXiamenFuhaiNewMaterialsPhaseIIIVentureCapitalPartnership | 20.97 | Netassetvalue | N/A |
/
| Enterprise(LimitedPartnership) | |||
| EquityofWuxiGreenstoneAutomationEquipmentCo.,Ltd. | 10.02 | Carryingvalue | N/A |
5.Adjustmentinformationbetweenopeningandclosingcarryingvalues,andsensitivityanalysisofunobservableparametersincontinuousthird-levelfairvaluemeasurementitems
□Applicable√N/A
6.Inthecaseofconversionbetweendifferentlevelsduringthecurrentperiod,thereasonsfortheconversionandthepolicyfordeterminingthetransitiontimepointforcontinuousfairvaluemeasurementitems
□Applicable√N/A
7.Valuationtechnologychangesthatoccurredinthecurrentperiodandthereasonsforthechanges
□Applicable√N/A
8.Fairvalueoffinancialassetsandfinancialliabilitiesnotmeasuredatfairvalue
□Applicable√N/A
9.Others
□Applicable√N/AXIV.Relatedpartiesandtransactions
1.TheinformationontheparentcompanyoftheCompany
□Applicable√N/A
2.TheinformationonthesubsidiariesoftheCompanySeethenotesfordetailsaboutthesubsidiaries
√Applicable□N/ASee“Note10:EquityinOtherEntities”forthedetailsaboutthesubsidiaries.
3.InformationonjointventuresandassociatesoftheCompanySeethenotesaboutimportantjointventuresorassociatesoftheCompany
□Applicable√N/ATheinformationonotherjointventuresorassociatesthathavehadrelatedpartytransactionswiththeCompanyinthecurrentperiod,orhaveformedbalancesfromrelatedpartytransactionswiththeCompanyinthepreviousperiod,isasfollows
□Applicable√N/A
4.Informationonotherrelatedparties
√Applicable□N/A
| Otherrelatedpartynames | RelationsbetweenotherrelatedpartiesandtheCompany |
| LiuJian | ThespouseoftheactualcontrollerGeZhiyong |
| GeZhibin | BrotherofactualcontrollerGeZhiyong |
| LiuYing | ThespouseoftheactualcontrollerLiWen |
| FengYe | ThespouseofGeZhibin(theelderbrotheroftheactualcontrollerGeZhiyong) |
| LiuZhuangzhi | TheyoungerbrotherofLiuJian(thespouseoftheactualcontrollerGeZhiyong) |
/
| LiXiao | ThebrotheroftheactualcontrollerLiWen |
| AnhuiWoshineSafetyEquipmentCo.,Ltd | Enterprisescontrolledorsignificantlyinfluencedbydirectors,supervisors,andseniormanagementoftheCompany |
| WuxiWoshineSafetyEquipmentCo.,Ltd | Acompanywhereadirectorservesasthegeneralmanager |
| WuxiSongyuTechnologyCo.,Ltd | TheCompanyholdsmorethan5%ofitsequity |
| WuxiWITDataTechnologyCo.,Ltd | TheactualcontrollerGeZhiyongholds46.087%ofitsequity,andLiWen21.7391% |
OthernotesN/A
5.Relatedpartytransactions
(1)Relatedtransactionsinvolvingthepurchaseandsaleofgoods,provisionandreceiptofservicesTableonprocurementofgoods/acceptanceoflaborservices
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Relatedparties | Contentonrelatedpartytransaction | Currentamountincurred | Approvedtransactionlimit(ifapplicable) | Whetherthetransactionlimithasbeenexceeded(ifapplicable) | Amountincurredinthepreviousperiod |
| AnhuiWoshineSafetyEquipmentCo.,Ltd. | Procurementofrawmaterials | 461,999.57 | 995,845.92 | ||
| AnhuiWoshineSafetyEquipmentCo.,Ltd. | Purchaseoffixedassets | 8,849.56 | 22,123.89 | ||
| AnhuiWoshineSafetyEquipmentCo.,Ltd. | Acceptanceoflaborservices | 8,849.56 | |||
| WuxiWoshineSafetyEquipmentCo.,Ltd. | Purchaseoflaborprotectionequipment | 259,524.37 | 269,596.47 | ||
| WuxiWITDataTechnologyCo.,Ltd. | Purchaseofrawmaterials | 707,964.60 | - |
Tableonsalesofgoods/provisionofservices
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Relatedparties | Contentonrelatedpartytransaction | Amountincurredinthecurrent | Amountincurredinthepreviousperiod |
| WuxiWITDataTechnologyCo.,Ltd | Electricitybillsettlement | 23,118.10 | 21,671.29 |
Notestorelatedtransactionsforpurchaseofgoodsoncredit,andprovisionandacceptanceoflaborservices
□Applicable√N/A
(2)Relatedentrustedmanagement/contractingandentrustedmanagement/outsourcing
/
Tableontheentrustedmanagement/contractingbytheCompany:
□Applicable√N/ANotestorelatedtrusteeship/contracting
□Applicable√N/ATableontheCompany’sentrustedmanagement/contracting
□Applicable√N/ANotestoassociationmanagement/outsourcing
□Applicable√N/A
(3)RelatedleaseTheCompanyservesasthelessor:
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Leaseholder | Typesofleasedassets | Leaseincomerecognizedinthecurrentperiod | Leaseincomerecognizedinthepreviousperiod |
| WuxiWITDataTechnologyCo.,Ltd. | Leaseofhouses | 134,174.33 | 134,174.33 |
/
TheCompanyservesasthelessee:
□Applicable√N/ANotestorelatedlease
□Applicable√N/A
/
(4)RelatedguaranteeTheCompanyservesastheguarantor
□Applicable√N/AOurCompanyservesasthesecuredparty
□Applicable√N/ANotestorelatedguarantee
□Applicable√N/A
(5)Relatedpartyfundlending
□Applicable√N/A
(6)Relatedpartyassettransferanddebtrestructuring
□Applicable√N/A
(7)Compensationforkeymanagementpersonnel
□Applicable√N/A
Unit:millionYuan,Currency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinthepreviousperiod |
| Compensationforkeymanagementpersonnel | 4.49 | 4.20 |
(8)Otherrelatedtransactions
□Applicable√N/A
6.Accountsreceivable,accountspayable,relatedpartiesandotherunsettleditems
(1)Accountsreceivable
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Relatedparties | Closingbalance | Openingbalance | ||
| Carryingamount | Provisionforbaddebts | Carryingamount | Allowanceforbaddebts | ||
| Contractliabilities | |||||
| WuxiWITDataTechnologyCo.,Ltd. | 5,904.01 | ||||
| Otherreceivables | |||||
| WuxiSongyuTechnologyCo.,Ltd. | 4,866.90 | 243.35 | |||
(2)Itemspayable
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Relatedparties | Closingbalance | Openingbalance |
| Accountspayable | |||
| WuxiWoshineSafetyEquipmentCo.,Ltd | 287,334.12 | 80,640.00 | |
| AnhuiWoshineSafety | 648,606.19 | 964,957.75 |
/
(3)Otheritems
□Applicable√N/A
7.Relatedpartycommitment
□Applicable√N/A
8.Others
□Applicable√N/AXV.Share-basedpayment
1.Variousequityinstruments
√Applicable□N/A
Quantityunit:Stockamount,Unit:Yuan,Currency:RMB
EquipmentCo.,Ltd
Grantobjecttype
| Grantobjecttype | Grantinthecurrentperiod | Exerciseinthecurrentperiod | Unlockinginthecurrentperiod | Invalidityinthecurrentperiod | ||||
| Quantity | Amount | Quantity | Amount | Quantity | Amount | Quantity | Amount | |
| Coreemployees | - | - | 584,298 | 29,434,609.53 | - | - | 47,267 | 2,382,642.92 |
| Total | - | - | 584,298 | 29,434,609.53 | - | - | 47,267 | 2,382,642.92 |
Stockoptionsorotherequityinstrumentsissuedattheendoftheperiod
√Applicable□N/A
| Grantobjecttype | Stockoptionsissuedattheendoftheperiod | Otherequityinstrumentsissuedattheendoftheperiod | ||
| RangeofexercisePrices | Remainingtermofthecontract | Rangeofexerciseprices | Remainingtermofthecontract | |
| Coreemployees | RMB33.26/share | 26months | ||
| Coreemployees | RMB34.62/share | 30months | ||
| Coreemployees | RMB47.84/share | 38months | ||
Othernotes
OnMay11,2024,theCompanydisclosedtheAnnouncementonAdjustingthe2023ProfitDistributionandCapitalReserve-to-ShareCapitalConversionPlan,whichdistributedacashdividendofRMB1.99552(includingtax)pershareandconverted0.4sharesofcapitalreservetoallshareholders
/
pershare.Theexercisepriceoftherestrictedstockincentiveplanfor2021wasadjustedtoRMB33.26,andthatoftheplanfor2022toRMB34.62.
2.Share-basedpaymentsettledinequity
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Methodfordeterminingthefairvalueofequityinstrumentsonthegrantdate | RestrictedstocksaremeasuredattheirfairvalueonthegrantdateusingtheBlackScholesOptionsModel(B-SModel) |
| Importantparametersforfairvalueofequityinstrumentsonthegrantdate | N/A |
| Basisfordeterminingthenumberoffeasibleequityinstruments | Estimationismadebasedontheperformanceevaluationcriteriaofeachattributionperiodandtheevaluationresultsofincentiveobjects |
| Reasonsforsignificantdifferencesbetweenthisestimateandthepreviousestimate | N/A |
| Accumulatedamountofshare-basedpaymentsettledinequityincludedincapitalreserves | 155,932,139.67 |
OthernotesN/A
3.Share-basedpaymentssettledincash
□Applicable√N/A
4.Share-basedpaymentexpensesinthecurrentperiod
√Applicable□N/AUnit:Yuan,Currency:RMB
| Grantobjecttype | Share-basedpaymentfeessettledinequity | Share-basedpaymentfeessettledincash |
| Corepersonnel | 27,609,528.13 | - |
| Total | 27,609,528.13 | - |
OthernotesN/A
5.Modificationandterminationofshare-basedpayment
□Applicable√N/A
6.Other
□Applicable√N/AXVI.Commitmentandcontingentevents
1.Importantcommitments
□Applicable√N/A
2.Contingentevents
(1)Importantcontingenteventsonthebalancesheetdate
□Applicable√N/A
(2)ItisrequiredtogiveexplanationsiftherearenomaterialcontingenteventsthatneedtobedisclosedfortheCompany:
□Applicable√N/A
/
3.Others
□Applicable√N/AXVII.Subsequenteventsofthebalancesheet
1.Importantnon-adjustmentevents
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Content | Theinfluencenumberonfinancialconditionsandoperatingresults | Reasonsforinabilitytoestimatetheinfluencenumber |
| Issuanceofstocksandbonds | Restrictedstockrepurchaseandwrite-off | N/A | N/A |
| Importantoutboundinvestments | |||
| Importantdebtrestructuring | |||
| Naturaldisaster | |||
| Importantchangesinforeignexchangerates |
1.OnJune24,2024,theCompanyheldthe54
th
meetingofthethirdboardofdirectorsandthe48
th
meetingofthethirdboardofsupervisors,andapprovedtheProposalonRepurchasingandCancelingSomeRestrictedStocksinthe2023RestrictedStockIncentivePlan.Thereareatotalof34,388sharestobecancelled,andtheCompany’stotalsharecapitalwillbereducedfrom314,433,090sharesto314,398,702sharesafterwrite-off.
2.TheCompanyheldthe54thmeetingofthethirdboardofdirectorsandthe48thmeetingofthethirdboardofsupervisorsonJune24,2024,andapprovedthe“ProposalontheAcquisitionandMergerofHoldingSubsidiaries”.Itisproposedtoarrangefortheholdingsubsidiary,CoshinTechnology,toacquireandmergeOpticalApplications.Asofthedisclosuredateofthisreport,thedeadlinefornotifyingcreditorstodeclaretheircreditors’rightshasexpired,andtaxandbusinessaffairsarecurrentlybeinghandledasplanned.
2.Profitdistribution
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Profitordividendstobedistributed | 270,412,525.34 |
| Profitsordividendsdeclaredfordistributionafterreviewandapproval | 270,412,525.34 |
3.Salesreturns
□Applicable√N/A
4.Notestoothersubsequenteventsofthebalancesheet
□Applicable√N/AXVIII.OtherimportanteventsCorrectionofaccountingerrorsinthepreviousperiod
(1)Retrospectiverestatementmethod
□Applicable√N/A
(2)Prospectiveapplication
□Applicable√N/A
2.Importantdebtrestructuring
/
□Applicable√N/A
3.Assetreplacement
(1)Non-monetaryassetexchange
□Applicable√N/A
(2)Otherassetreplacement
□Applicable√N/A
4.Pensionplan
□Applicable√N/A
5.Terminationofoperations
□Applicable√N/A
6.Informationonreportablesegment
(1)Basisfordeterminingreportablesegmentsandaccountingpolicies
□Applicable√N/A
(2)Financialinformationofreportablesegments
□Applicable√N/A
(3)IftheCompanyhasnoanyreportablesegmentsorcannotdisclosethetotalassetsandliabilitiesofeachreportablesegment,thereasonsshouldbeexplained
□Applicable√N/A
(4)Othernotes
□Applicable√N/A
7.Otherimportanttransactionsandeventsthathaveanimpactoninvestors’decision-making
□Applicable√N/A
8.Others
□Applicable√N/AXIX.Notestomajoritemsinthefinancialstatementsoftheparentcompany
1.Accountsreceivable
(1)Disclosurebyaging
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Aging | Closingbalance | Openingbalance |
| Within1year | ||
| Ofwhich:sub-itemswithin1year | ||
| 1,583,839,093.97 | 1,154,106,167.00 | |
| Subtotalofreceivableswithin1year | 1,583,839,093.97 | 1,154,106,167.00 |
| 1to2years | 131,675,420.46 | 147,817,265.53 |
| 2to3years | 73,671,989.75 | 17,728,108.25 |
| Over3years | 26,665,351.44 | 19,410,249.61 |
| Subtotal | ||
| Less:Provisionforbaddebts | 220,208,212.99 | 154,354,437.25 |
| Total | 1,595,643,642.63 | 1,184,707,353.14 |
(2)Disclosurebybaddebtprovisionmethod
√Applicable□N/A
/
Unit:Yuan,Currency:RMB
| Type | Closingbalance | Openingbalance | ||||||||
| Carryingamount | Provisionforbaddebts | Carryingvalue | Carryingamount | Provisionforbaddebts | Carryingvalue | |||||
| Amount | Ratio(%) | Amount | Provisionratio(%) | Amount | Ratio(%) | Amount | Provisionratio(%) | |||
| Provisionforbaddebtsbasedonindividualitems | 105,195,293.06 | 5.79 | 105,195,293.06 | 100.00 | - | 71,583,866.54 | 5.35 | 71,583,866.54 | 100.00 | - |
| Ofwhich: | ||||||||||
| Provisionforbaddebtsbasedonindividualitems | 105,195,293.06 | 5.79 | 105,195,293.06 | 100.00 | - | 71,583,866.54 | 5.35 | 71,583,866.54 | 100.00 | - |
Provisionforbaddebtsbasedonthecombinationofitems
| Provisionforbaddebtsbasedonthecombinationofitems | 1,710,656,562.56 | 94.21 | 115,012,919.93 | 6.72 | 1,595,643,642.63 | 1,267,477,923.85 | 94.65 | 82,770,570.71 | 6.53 | 1,184,707,353.14 |
| Ofwhich: | ||||||||||
| Provisionforbaddebtsbasedonthecombinationofcreditriskcharacteristics | 1,710,656,562.56 | 94.21 | 115,012,919.93 | 6.72 | 1,595,643,642.63 | 1,267,477,923.85 | 94.65 | 82,770,570.71 | 6.53 | 1,184,707,353.14 |
Total
| Total | 1,815,851,855.62 | / | 220,208,212.99 | / | 1,595,643,642.63 | 1,339,061,790.39 | / | 154,354,437.25 | / | 1,184,707,353.14 |
Provisionforbaddebtsbasedonindividualitems:
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Name | Closingbalance | |||
| Carryingamount | Provisionforbaddebts | Provisionratio(%) | Provisionreasons | |
| Customer1 | 761,966.00 | 761,966.00 | 100.00 | Onthevergeofbankruptcy |
| Customer2 | 405,369.80 | 405,369.80 | 100.00 | Bankruptcy |
| Customer3 | 762,559.59 | 762,559.59 | 100.00 | Difficultyin |
/
| paymentcollection | ||||
| Customer4 | 135,750.00 | 135,750.00 | 100.00 | Difficultyinpaymentcollection |
| Customer5 | 200,000.00 | 200,000.00 | 100.00 | Underprosecution |
| Customer6 | 790,959.00 | 790,959.00 | 100.00 | Underprosecution |
| Customer7 | 3,113,451.05 | 3,113,451.05 | 100.00 | Bankruptcy |
| Customer8 | 6,009,191.50 | 6,009,191.50 | 100.00 | Bankruptcy |
| Customer9 | 816,760.00 | 816,760.00 | 100.00 | Bankruptcy |
| Customer10 | 1,979,760.13 | 1,979,760.13 | 100.00 | Underprosecution |
| Customer11 | 17,987,500.00 | 17,987,500.00 | 100.00 | Bankruptcy |
| Customer12 | 1,572,512.86 | 1,572,512.86 | 100.00 | Underprosecution |
| Customer13 | 737.82 | 737.82 | 100.00 | Difficultyinpaymentcollection |
| Customer14 | 1,111,894.00 | 1,111,894.00 | 100.00 | Difficultyinpaymentcollection |
| Customer15 | 602,000.00 | 602,000.00 | 100.00 | Difficultyinpaymentcollection |
| Customer16 | 2,273,337.06 | 2,273,337.06 | 100.00 | Bankruptcy |
| Customer17 | 1,592,000.00 | 1,592,000.00 | 100.00 | Difficultyinpaymentcollection |
| Customer18 | 1,112,000.00 | 1,112,000.00 | 100.00 | Bankruptcy |
| Customer19 | 2,514,000.00 | 2,514,000.00 | 100.00 | Underprosecution |
| Customer20 | 670,828.99 | 670,828.99 | 100.00 | Underprosecution |
| Customer21 | 15,119,600.27 | 15,119,600.27 | 100.00 | Difficultyinpaymentcollection |
| Customer22 | 5,022,400.00 | 5,022,400.00 | 100.00 | Underprosecution |
| Customer23 | 9,590,631.73 | 9,590,631.73 | 100.00 | Bankruptcy |
| Customer24 | 15,500.00 | 15,500.00 | 100.00 | Difficultyinpaymentcollection |
| Customer25 | 1,018,267.50 | 1,018,267.50 | 100.00 | Difficultyinpaymentcollection |
| Customer26 | 1,827,230.76 | 1,827,230.76 | 100.00 | Underprosecution |
| Customer27 | 640,000.00 | 640,000.00 | 100.00 | Underprosecution |
| Customer28 | 150,000.00 | 150,000.00 | 100.00 | Underprosecution |
| Customer29 | 17,385.00 | 17,385.00 | 100.00 | Difficultyinpaymentcollection |
| Customer30 | 771,000.00 | 771,000.00 | 100.00 | Bankruptcy |
| Customer31 | 6,524,000.00 | 6,524,000.00 | 100.00 | Difficultyinpaymentcollection |
| Customer32 | 1,640,000.00 | 1,640,000.00 | 100.00 | Difficultyinpaymentcollection |
| Customer33 | 3,000,000.00 | 3,000,000.00 | 100.00 | Underprosecution |
| Customer34 | 7,518,700.00 | 7,518,700.00 | 100.00 | Difficultyinpaymentcollection |
| Customer35 | 888,000.00 | 888,000.00 | 100.00 | Difficultyinpaymentcollection |
| Customer36 | 7,040,000.00 | 7,040,000.00 | 100.00 | Difficultyinpaymentcollection |
| Total | 105,195,293.06 | 105,195,293.06 | 100.00 | / |
Notestoprovisionforbaddebtsbasedonindividualitems:
□Applicable√N/AProvisionforbaddebtsbasedonthecombinationofitems:
√Applicable□N/A
/
Combinationprovisionitem:Provisionforbaddebtsbasedonthecombinationofcreditriskcharacteristics
Unit:Yuan,Currency:RMB
| Name | Closingbalance | ||
| Accountsreceivable | Provisionforbaddebts | Provisionratio(%) | |
| Within1year | 1,504,413,913.41 | 74,995,700.53 | 5 |
| 1to2years | 95,873,347.19 | 14,121,115.83 | 15 |
| 2to3years | 30,254,298.15 | 15,127,149.07 | 50.00 |
| Over3years | 10,768,954.50 | 10,768,954.50 | 100.00 |
| Total | 1,641,310,513.25 | 115,012,919.93 | |
Notestoprovisionforbaddebtsbasedonthecombinationofitems:
□Applicable√N/AProvisionforbaddebtsbasedonthegeneralmodelofexpectedcreditlosses
□Applicable√N/ABasisforclassificationatdifferentphasesandprovisionratioforbaddebtsN/ANotestosignificantchangesinthecarryingamountofaccountsreceivablewithchangesinlossprovisionsinthecurrentperiod:
□Applicable√N/A
(3)Provisionforbaddebts
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Type | Openingbalance | Amountofchangefortheperiod | Closingbalance | |||
| Provision | Amountrecoveredorreversed | Amountchargedofforwrittenoff | Otherchanges | |||
| Provisionforbaddebtsbasedonindividualitems | 71,583,866.54 | 45,797,123.63 | 12,131,697.11 | 54,000.00 | 105,195,293.06 | |
| Provisionforbaddebtsbasedonthecombinationofitems | 82,770,570.71 | 60,057,820.16 | 27,815,470.94 | 115,012,919.93 | ||
| Total | 154,354,437.25 | 105,854,943.79 | 39,947,168.05 | 54,000.00 | - | 220,208,212.99 |
Ofwhich,significantamountofprovisionforbaddebtsrecoveredorreversedinthecurrentperiod:
□Applicable√N/AOthernotesN/A
(4)Otherreceivablesactuallywrittenoffinthecurrentperiod
/
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Amountwrittenoff |
| Accountsreceivableactuallywrittenoff | 54,000.00 |
Ofwhich,significantaccountsreceivablewrittenoff
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Entityname | Natureofaccountsreceivable | Amountwrittenoff | Write-offreasons | Write-offproceduresperformed | Whetherthepaymentisgeneratedfromrelatedpartytransactions |
| JiangsuJingkeTianshengEnergyCo.,Ltd. | Paymentforgoods | 54,000 | Reduction | ApprovedbytheManagement | No |
| Total | / | 54,000.00 | / | / | / |
Notestothewrite-offofaccountsreceivable:
□Applicable√N/A
(5)Topfiveaccountsreceivableandcontractassetsbyclosingbalanceofdebtor
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Entityname | Closingbalanceofaccountsreceivable | Closingbalanceofcontractassets | Closingbalanceofaccountsreceivableandcontractassets | Ratioofthetotalclosingbalanceofaccountsreceivableandcontractassets(%) | Closingbalanceofprovisionforbaddebts |
| Customer1 | 194,273,554.14 | - | 194,273,554.14 | 10.71 | 9,713,677.71 |
| Customer2 | 155,683,720.41 | - | 155,683,720.41 | 8.57 | 10,944,561.66 |
| Customer3 | 139,522,380.12 | - | 139,522,380.12 | 7.68 | 8,607,253.15 |
| Customer4 | 126,616,177.64 | - | 126,616,177.64 | 6.97 | 8,643,291.87 |
| Customer5 | 86,019,003.43 | - | 86,019,003.43 | 4.74 | 4,618,990.00 |
| Total | 702,114,835.75 | - | 702,114,835.74 | 38.67 | 42,527,774.39 |
OthernotesN/AOthernotes:
□Applicable√N/A
2.OtherreceivablesItemList
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Closingbalance | Openingbalance |
| Interestreceivable | ||
| Dividendsreceivable |
/
| Otherreceivables | 1,503,138,972.94 | 1,169,349,500.49 |
| Total | 1,503,138,972.94 | 1,169,349,500.49 |
Othernotes:
□Applicable√N/AInterestreceivable
(1)Classificationofinterestreceivable
□Applicable√N/A
(2)Significantoverdueinterest
□Applicable√N/A
(3)Disclosurebybaddebtprovisionmethod
□Applicable√N/AProvisionforbaddebtsbasedonindividualitems:
□Applicable√N/ANotestoprovisionforbaddebtsbasedonindividualitems:
□Applicable√N/AProvisionforbaddebtsbasedonthecombinationofitems:
□Applicable√N/AProvisionforbaddebtsbasedonthegeneralmodelofexpectedcreditlosses
□Applicable√N/A
(4)Provisionforbaddebts
□Applicable√N/AOfwhich,significantamountofprovisionforbaddebtsrecoveredorreversedinthecurrentperiod:
□Applicable√N/AOthernotes:
N/A
(5)Interestreceivableactuallywrittenoffinthecurrentperiod
□Applicable√N/AOfwhich,significantinterestreceivablewrittenoff
□Applicable√N/ANotestothewrite-offofinterestreceivable:
□Applicable√N/AOthernotes:
□Applicable√N/ADividendsreceivable
(1)Dividendsreceivable
□Applicable√N/A
/
(2)Significantdividendsreceivablewithanagingofover1year
□Applicable√N/A
(3)Disclosurebybaddebtprovisionmethod
□Applicable√N/AProvisionforbaddebtsbasedonindividualitems:
□Applicable√N/ANotestoprovisionforbaddebtsbasedonindividualitems:
□Applicable√N/AProvisionforbaddebtsbasedonthecombinationofitems:
□Applicable√N/AProvisionforbaddebtsbasedonthegeneralmodelofexpectedcreditlosses
□Applicable√N/A
(4)Provisionforbaddebts
□Applicable√N/AOfwhich,significantamountofprovisionforbaddebtsrecoveredorreversedinthecurrentperiod:
□Applicable√N/AOthernotes:
N/A
(5)Dividendsreceivableactuallywrittenoffinthecurrentperiod
□Applicable√N/AOfwhich,significantwrite-offsofdividendsreceivabletherein
□Applicable√N/ANotestothewrite-offofdividendsreceivable:
□Applicable√N/AOthernotes:
□Applicable√N/AOtherreceivables
(1)Disclosurebyaging
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Aging | Closingbalance | Openingbalance |
| Within1year | ||
| Ofwhich:sub-itemswithin1year | ||
| Within1year | 1,494,882,110.82 | 773,267,647.38 |
| Subtotalofreceivableswithin1year | 1,494,882,110.82 | 773,267,647.38 |
| 1to2years | 8,162,542.66 | 397,451,395.16 |
| 2to3years | 3,780,000.00 | 3,377,876.58 |
| Over3years | 747,408.00 | 747,408.00 |
| Subtotal | 1,507,572,061.48 | 1,174,844,327.12 |
/
| Less:Provisionforbaddebts | 4,433,088.54 | 5,494,826.63 |
| Total | 1,503,138,972.94 | 1,169,349,500.49 |
(2)Classifiedbythenatureofreceivables
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Natureofpayment | Closingbalance | Openingbalance |
| Provisionforbaddebtsbasedonindividualitems | 299,200.00 | 299,200.00 |
| Provisionforbaddebtsbasedonthecombinationofcreditriskcharacteristics | 1,507,272,861.48 | 1,174,545,127.12 |
| Total | 1,507,572,061.48 | 1,174,844,327.12 |
(3)Provisionforbaddebts
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Provisionforbaddebts | Phase1 | Phase2 | Phase3 | Total |
| Expectedcreditlossforthenext12months | Expectedcreditlossovertheentirelifetime(withoutcreditimpairment) | Expectedcreditlossovertheentirelifetime(withcreditimpairment) | ||
| BalanceasatJanuary1,2024 | 5,195,626.63 | 299,200.00 | 5,494,826.63 | |
| BalanceasatJanuary1,2024,inthecurrentperiod | - | |||
| --CarryovertoPhase3 | - | |||
| --CarryovertoPhase3 | - | |||
| --CarryovertoPhase2 | - | |||
| --CarryovertoPhase1 | - | |||
| Provisioninthecurrentperiod | 834,098.05 | 834,098.05 | ||
| Reversalinthecurrentperiod | 1,895,836.14 | 1,895,836.14 | ||
| Charge-offinthecurrentperiod | - | |||
| Write-off | - | |||
| Otherchanges | - | |||
| BalanceasatJune30,2024 | 4,133,888.54 | 299,200.00 | 4,433,088.54 |
BasisforclassificationatdifferentphasesandprovisionratioforbaddebtsN/ANotestosignificantchangesinthecarryingamountofotherreceivableswithchangesinlossprovisionsinthecurrentperiod:
□Applicable√N/A
/
Theamountofprovisionforbaddebtsinthecurrentperiodandthebasisforevaluatingwhetherthecreditriskoffinancialinstrumentshassignificantlyincreased:
□Applicable√N/A
(4)Provisionforbaddebts
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Type | Openingbalance | Amountofchangefortheperiod | Closingbalance | |||
| Provision | Amountrecoveredorreversed | Amountchargedofforwrittenoff | Otherchanges | |||
| Provisionforbaddebtsbasedonindividualitems | 299,200.00 | 299,200.00 | ||||
| Provisionforbaddebtsbasedonthecombinationofitems | 5,195,626.63 | 834,098.05 | 1,895,836.14 | 4,133,888.54 | ||
| Total | 5,494,826.63 | 834,098.05 | 1,895,836.14 | - | - | 4,433,088.54 |
Ofwhich,significantamountofprovisionforbaddebtsrecoveredorreversedinthecurrentperiod:
□Applicable√N/AOthernotesN/A
(5)Otherreceivablesactuallywrittenoffinthecurrentperiod
□Applicable√N/AOfwhich,significantreceivableswrittenoff:
□Applicable√N/ANotestothewrite-offofotherreceivables:
□Applicable√N/A
(6)Topfiveotherreceivablesbyclosingbalanceofdebtor
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Entityname | Closingbalance | Ratiointotalclosingbalanceofotherreceivables(%) | NatureofPayment | Aging | Closingbalanceofprovisionforbaddebts |
| WuxiAutowellXuRiTechnologyCo.,Ltd. | 472,235,000.57 | 31.41 | Internaltransactions | Within1year | |
| WuxiSongciElectromechanicalCo.,Ltd. | 370,555,419.73 | 24.65 | Internaltransactions | Within1year | |
| WuxiAutowellIntelligent | 333,198,656.61 | 22.17 | Internaltransactions | Within1year |
/
| EquipmentCo.,Ltd. | |||||
| WuxiAutowellCoshinSemiconductorTechnologyCo.,Ltd. | 117,685,351.83 | 7.83 | Internaltransactions | Within1year | |
| WuxiAutowellOpticalApplicationCo.,Ltd. | 107,722,841.10 | 7.17 | Internaltransactions | Within1year | |
| Total | 1,401,397,269.84 | 93.23 | / | / | - |
(7)Presentedasotherreceivablesduetocentralizedfundmanagement
□Applicable√N/AOthernotes:
□Applicable√N/A
3.Longtermequityinvestment
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Closingbalance | Openingbalance | ||||
| Carryingamount | Provisionforimpairment | Carryingvalue | Carryingamount | Provisionforimpairment | Carryingvalue | |
| Investmentinsubsidiaries | 590,082,131.95 | - | 590,082,131.95 | 523,401,796.42 | - | 523,401,796.42 |
| Investmentinjointventuresandassociates | - | - | - | - | ||
| Total | 590,082,131.95 | - | 590,082,131.95 | 523,401,796.42 | - | 523,401,796.42 |
(1)Investmentinsubsidiaries
√Applicable□N/A
Unit:millionYuan,Currency:RMB
| Theinvestedentity | Openingbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Closingbalance | Provisionforimpairmentinthecurrentperiod | Closingbalanceofimpairmentprovision |
| IntelligentEquipment | 36.42 | 4.10 | 0.00 | 40.52 | 0.00 | 0.00 |
| OpticalApplications | 10.61 | 0.42 | 0.00 | 11.03 | 0.00 | 0.00 |
| SupplyChainManagement | 11.26 | 0.16 | 0.00 | 11.42 | 0.00 | 0.00 |
| SongciElectromechanical | 50.66 | 2.07 | 0.00 | 52.73 | 0.00 | 0.00 |
| XuRiTechnology | 29.03 | 1.59 | 0.00 | 30.63 | 0.00 | 0.00 |
| CoshinSemiconductor | 19.20 | 0.84 | 0.00 | 20.04 | 0.00 | 0.00 |
| LeddoTechnology | 50.00 | 0.00 | 0.00 | 50.00 | 0.00 | 0.00 |
| ZhiyuanEquipment | 14.00 | 0.00 | 0.00 | 14.00 | 0.00 | 0.00 |
| JiexinTechnology | 44.56 | 0.00 | 0.00 | 44.56 | 0.00 | 0.00 |
/
| PolarNewEnegry | 243.00 | 27.00 | 0.00 | 270.00 | 0.00 | 0.00 |
| WuxiPolar | 0.00 | 18.33 | 0.00 | 18.33 | 0.00 | 0.00 |
| AUTOWELLJapan | 14.66 | 0.00 | 0.00 | 14.66 | 0.00 | 0.00 |
| Autowell(Singapore) | 0.00 | 12.17 | 0.00 | 12.17 | 0.00 | 0.00 |
| Total | 523.40 | 66.68 | 0.00 | 590.08 | 0.00 | 0.00 |
(2)Investmentinjointventuresandassociates
□Applicable√N/A
(3)Impairmenttestingoflong-termequityinvestments
□Applicable√N/AOthernotes:
□Applicable√N/A
4.Operatingincomeandoperatingcost
(1)Operatingincomeandoperatingcost
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinthepreviousperiod | ||
| Income | Cost | Income | Cost | |
| Mainbusiness | 3,303,172,850.50 | 2,111,925,203.31 | 2,048,527,945.02 | 1,242,289,824.67 |
| Otherbusinesses | 24,941,193.38 | 24,257,469.41 | 12,200,965.38 | 12,096,197.75 |
| Total | 3,328,114,043.88 | 2,136,182,672.72 | 2,060,728,910.40 | 1,254,386,022.42 |
(2)Informationondecompositionofoperatingincomeandoperatingcosts
√Applicable□N/A
Unit:YuanUnit:Yuan,Currency:RMB
| Contracttype | Total | |
| Operatingincome | Operatingcost | |
| Producttype | ||
| Photovoltaicequipment | 3,300,181,700.05 | 2,110,395,238.69 |
| Others | 27,932,343.83 | 25,787,434.03 |
| Total | 3,328,114,043.88 | 2,136,182,672.72 |
Othernotes
□Applicable√N/A
(3)Notestoperformanceobligation
□Applicable√N/A
(4)Notestotheperformanceobligationofamortizingtotheremainder
□Applicable√N/A
(5)Majorcontractchangesorsignificanttransactionpriceadjustments
□Applicable√N/A
/
Othernotes:
N/A
5.Investmentincome
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinthepreviousperiod |
| Incomefromlong-termequityinvestmentbasedonequitymethod | - | |
| Investmentincomegeneratedfromdisposaloflong-termequityinvestments | -2,999,999.00 | |
| Investmentincomeoftradingfinancialassetsduringtheholdingperiod | - | |
| Dividendincomeobtainedfromotherequityinstrumentinvestmentsduringtheholdingperiod | - | |
| Interestincomeobtainedfromdebtinvestmentsduringtheholdingperiod | - | |
| Interestincomeobtainedfromotherdebtinvestmentsduringtheholdingperiod | - | |
| Investmentincomeobtainedfromdisposaloftradingfinancialassets | - | |
| Investmentincomeobtainedfromdisposalofotherequityinstrumentinvestments | - | |
| Investmentincomeobtainedfromdisposalofdebtinvestments | - | |
| Investmentincomeobtainedfromdisposalofotherdebtinvestments | - | |
| Debtrestructuringincome | 1,134,950.39 | - |
| Investmentincomefromfinancialproducts | 2,421,303.32 | 9,473,475.86 |
| Investmentincomeofothernon-currentfinancialassetsduringtheholdingperiod | 729,283.23 | 42,000.00 |
| Total | 4,285,536.94 | 6,515,476.86 |
Othernotes:
N/A
6.Others
□Applicable√N/AXX.SupplementaryInformation
1.Statementofnon-recurringgainsandlossesinthecurrentperiod
√Applicable□N/A
Unit:Yuan,Currency:RMB
| Item | Amount | Note |
| Gainsandlossesfromthedisposalofnon-currentassets,includingthewrite-offportionofimpairmentprovisionsalreadymadeforassets | -164,407.40 | |
| Governmentgrantsincludedinthegainsandlossesinthecurrentperiod,exceptthosecloselyrelatedtotheCompany’snormalbusiness | 5,397,451.34 |
/
| operations,incompliancewithnationalpoliciesandregulations,enjoyedaccordingtoestablishedstandards,andhavingasustainedimpactontheCompany’sgainsandlosses | |
| Gainsandlossesfromchangesinfairvalueoffinancialassetsandliabilitiesbynon-financialenterprises’holdingfinancialassetsandliabilitiesaswellasgainsandlossesfromtheirdisposingoftheassetsandliabilities | -20,540,182.44 |
| Fundsoccupancyfeeschargedtonon-financialenterprisesincludedinthegainsandlossesinthecurrentperiod | |
| Gainsandlossesfromentrustingotherstoinvestinormanageassets | |
| Gainsandlossesobtainedfromexternalentrustedloans | |
| Lossesofvariousassetsduetoforcemajeurefactors,suchasnaturaldisasters | |
| Reversalofimpairmentprovisionforaccountsreceivableseparatelytestedforimpairment | 12,627,272.33 |
| Thegainsgeneratedfromthefairvalueoftheidentifiablenetassetsoftheinvesteetheenterpriseshouldenjoywhentheinvestmentcostofitsacquiringsubsidiaries,associates,andjointventureislessthantheinvestmentobtained | |
| Netgainsandlossesofsubsidiariesinthecurrentperiodarisingfrommergersofenterprisesundercommoncontrolfromthebeginningoftheperiodtothemergerdate | |
| Gainsandlossesfromnon-monetaryassetexchange | |
| Gainsandlossesfromdebtrestructuring | 1,134,950.39 |
| One-timecostsincurredbyenterprisesduetothediscontinuationofrelevantbusinessactivities,suchasexpensesonemployeeresettlement,etc. | |
| Theone-timeimpactofadjustmentstotax,accounting,andotherlawsandregulationsonthegainsandlossesinthecurrentperiod | |
| One-timeconfirmationofshare-basedpaymentexpensesduetowrite-offormodificationofequityincentiveplans | |
| Forcashsettledsharebasedpayments,gainsorlossesarisingfromchangesinfairvalueofstaffremunerationpayableaftertheexercisedate | |
| Gainsandlossesarisingfromchangesinfairvalueofinvestmentpropertiesmeasuredsubsequentlyviathefairvaluemodel | |
| Gainsgeneratedfromtransactionswithsignificantlyunfairtransactionprices | |
| GainsandlossesarisingfromcontingentitemsunrelatedtothenormaloperationoftheCompany’sbusiness | |
| Custodyfeeincomeobtainedfromentrustedoperation | |
| Othernon-operatingincomeandexpensesexceptthosementionedabove | -382,006.17 |
/
Othergainsandlossesitemsthatmeetthedefinitionofnon-recurringgainsandlossesLess:Amountundertheimpactofincometax-263,166.53Amountundertheimpactofnon-controllingshareholders’equity(aftertax)
1,714,842.25Total-3,378,597.67InthecasewheretheCompanyclassifiesitemsnotlistedinthe“ExplanatoryAnnouncementNo.1onInformationDisclosureofPubliclyIssuedSecuritiesCompanies—Non-recurringGainsandLosses”asitemsofnon-recurringgainsandlosseswithsignificantamounts,anddefinesitemsofnon-recurringgainsandlosseslistedintheExplanatoryAnnouncementasrecurringitemsofgainsandlosses,therelevantreasonsshouldbeexplained.
□Applicable√N/AOthernotes
□Applicable√N/A
2.Returnonequityandearningspershare
√Applicable□N/A
Profitduringthereporting
period
Weightedaveragereturnonequity(%)
EarningspershareBasicearningsper
share
Dilutedearningsper
shareNetprofitattributabletocommonshareholdersoftheCompany
19.23%2.452.35NetprofitattributabletocommonshareholdersoftheCompanyafterdeductingnon-recurringgainsandlosses
19.32%2.462.36
3.Differencesinaccountingdataundertheaccountingstandardsathomeandabroad
□Applicable√N/A
4.Others
□Applicable√N/A
Revisioninformation
□Applicable√N/
Chairman:GeZhiyongDateofsubmissionapprovedbytheBoardofDirectors:August22,2024A