Changyuan Donggu Industrial Co., Ltd. 2021 First Quarter Report_Main Text
Release time:
2021-06-17
Company Code: 603950 Company Abbreviation: Changyuan Donggu
Xiangyang Changyuan Donggu Industrial Co., Ltd.
2021 First Quarter Report
- The board of directors, the board of supervisors, and the directors, supervisors, and senior management personnel of the company guarantee the truthfulness, accuracy, and completeness of the content of the quarterly report, and that there are no false records, misleading statements, or major omissions, and they bear individual and joint legal liabilities.
- All directors of the company attended the board meeting to review the quarterly report.
- Li Zuoyuan, the person in charge of the company, Wang Hongyun, the person in charge of accounting work, and Peng Minghui, the person in charge of the accounting institution (accounting supervisor), guarantee the truthfulness, accuracy, and completeness of the financial statements in the quarterly report.
- This company's first quarter report is unaudited.
- Main Financial Data
Unit: Yuan Currency: RMB
Non-Recurring Gains and Losses Items and Amounts
Unit: Yuan Currency: RMB
|
Amount for the Period |
Explanation |
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|
Gains and Losses on Disposal of Non-Current Assets |
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|
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Unauthorized approval, or lack of formal approval documents, or occasional tax refunds or exemptions |
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|
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Government subsidies included in the current profit or loss, except for government subsidies that are closely related to the company's normal business operations, comply with national policies and regulations, and are continuously enjoyed according to certain standards or quantities. |
2,423,845.78 |
|
|
Charges for the use of funds collected from non-financial enterprises included in the current profit or loss |
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Income generated from the investment cost of the company's acquisition of subsidiaries, associated enterprises, and joint ventures being less than the fair value of the identifiable net assets of the investee that the company should enjoy at the time of acquisition |
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Gains and Losses on Non-Monetary Asset Exchanges |
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Gains and Losses on Assets Entrusted to Others for Investment or Management |
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Impairment provisions for various assets due to force majeure factors, such as natural disasters |
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Gains and Losses on Debt Restructuring |
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Enterprise restructuring costs, such as expenses for employee placement and integration costs |
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Gains and losses exceeding the fair value portion resulting from transactions where the transaction price is significantly unfair |
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Net profit or loss from the beginning of the period to the date of merger of subsidiaries resulting from business combinations under the same control |
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Gains and losses arising from contingent events unrelated to the company's normal business operations |
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Except for effective hedging transactions related to the company's normal business operations, gains and losses on fair value changes arising from holding trading financial assets, derivative financial assets, trading financial liabilities, and derivative financial liabilities, as well as investment income obtained from the disposal of trading financial assets, derivative financial assets, trading financial liabilities, derivative financial liabilities, and other debt investments |
-1,291,526.83 |
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Reversal of impairment provisions for receivables and contract assets that are individually tested for impairment |
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Gains and Losses on Outsourced Loans |
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Gains and losses on changes in the fair value of investment properties subsequently measured using the fair value model |
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Impact on current profit or loss due to one-time adjustments to current profit or loss in accordance with the requirements of tax, accounting, and other laws and regulations |
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Custodian fee income obtained from entrusted management |
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Other non-operating income and expenses other than the above items |
317,958.67 |
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Other gains and losses that meet the definition of non-recurring gains and losses |
|
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Impact on minority shareholders' equity (after tax) |
-510.58 |
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Impact of income tax |
-183,240.67 |
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Total |
1,266,526.37 |
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- Statement of the total number of shareholders, top ten shareholders, and top ten circulating shareholders (or shareholders without restricted conditions) as of the end of the reporting period
Unit: shares
|
17,939 |
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Top ten shareholders' holdings |
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|
Shareholder Name (Full Name) |
End-of-period holdings Quantity |
Proportion (%) |
Number of shares with restricted conditions |
Pledged or frozen status |
Shareholder nature |
||
|
Share status |
Quantity |
||||||
|
Li Zuoyuan |
92,872,828 |
40.11 |
91,451,745 |
None |
|
Overseas natural person |
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Xu Nengchen |
25,969,680 |
11.22 |
25,969,680 |
None |
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Overseas natural person |
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|
Li Xianfeng |
12,984,840 |
5.61 |
12,984,840 |
None |
|
Domestic natural person |
|
|
Li Congrong |
12,984,840 |
5.61 |
12,984,840 |
None |
|
Overseas natural person |
|
|
Xiangyang Innovation Capital Venture Capital Co., Ltd. |
7,716,960 |
3.33 |
7,716,960 |
None |
|
Domestic non-state-owned legal person |
|
|
Shenzhen Innovation Investment Group Co., Ltd. |
4,630,320 |
2.00 |
4,630,320 |
None |
|
Domestic non-state-owned legal person |
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Beijing Rongding Deyuan Equity Investment Fund Partnership (Limited Partnership) |
3,500,000 |
1.51 |
3,500,000 |
None |
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Domestic non-state-owned legal person |
|
|
Li Kewu |
2,893,860 |
1.25 |
2,893,860 |
None |
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Domestic natural person |
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Chi Yuan |
1,736,415 |
0.75 |
1,736,415 |
None |
|
Domestic natural person |
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Zheng Gang |
1,685,000 |
0.73 |
1,640,000 |
None |
|
Domestic natural person |
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Top ten shareholders without restricted conditions |
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|
Shareholder Name |
Number of shares without restricted conditions |
Type and quantity of shares |
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|
Type |
Quantity |
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|
Wang Jiancheng |
1,647,900 |
RMB ordinary shares |
1,647,900 |
||||
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Li Zuoyuan |
1,421,083 |
RMB ordinary shares |
1,421,083 |
||||
|
Wu Chang |
834,300 |
RMB ordinary shares |
834,300 |
||||
|
Wuxi Bai Fa Generator Group Co., Ltd. |
611,800 |
RMB ordinary shares |
611,800 |
||||
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Beijing Zhik Technology Industry Investment Holding Group Co., Ltd. |
550,000 |
RMB ordinary shares |
550,000 |
||||
|
Wang Luyan |
467,000 |
RMB ordinary shares |
467,000 |
||||
|
Su Mei |
383,329 |
RMB ordinary shares |
383,329 |
||||
|
Niu Airong |
350,700 |
RMB ordinary shares |
350,700 |
||||
|
Lv Jun |
320,000 |
RMB ordinary shares |
320,000 |
||||
|
Liu Fang |
307,700 |
RMB ordinary shares |
307,700 |
||||
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Explanation of the relationship or concerted action of the above shareholders |
Shareholders Li Zuoyuan and Xu Nengchen are husband and wife; shareholders Li Zuoyuan and Li Congrong are father and daughter; shareholders Li Zuoyuan and Li Xianfeng are father and son; shareholders Li Zuoyuan, Xu Nengchen, Li Congrong, and Li Xianfeng have signed a concerted action agreement and are concerted actors. Shenzhen Investment holds 26.67% of Xiangyang Innovation's equity and is the second largest shareholder of Xiangyang Innovation. It is unknown whether there is any relationship or concerted action among other shareholders. |
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Explanation of preferred shareholders whose voting rights have been restored and the number of shares held |
Not applicable |
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- Significant changes in the company's main accounting report items and financial indicators and their reasons
|
End of March 2021 / Q1 2021 |
End of 2020 / Q1 2020 |
Change Proportion |
Reasons for change |
|
|
Trading financial assets |
19,148,641.61 |
41,193,502.80 |
-54% |
Redemption of wealth management products |
|
Accounts receivable |
109,506.45 |
344,792.15 |
-68% |
Acceptance of commercial bills at maturity |
|
Short-term loan |
90,000,000.00 |
|
- |
Increase in short-term loan |
|
Operating Revenue |
508,373,463.98 |
268,245,115.46 |
90% |
On the one hand, in 2020, affected by the COVID-19 epidemic, the base of the same period was relatively low; on the other hand, in 2021, driven by various favorable macroeconomic policies and emission standard switching, the medium and heavy truck industry continued to improve. The main customers of the company, Foton Cummins, Dongfeng Cummins, and Dongfeng Commercial Vehicle, achieved sales growth. At the same time, after the successful introduction of new projects such as Guangxi Yuchai, Shangfei Hong, and Xi'an Cummins, sales showed a continuously growing trend. The company's order demand was strong, and its main business income increased significantly. |
|
Cost of goods sold |
333,107,614.11 |
193,089,418.26 |
73% |
Related to the growth of operating income |
|
Taxes and surcharges |
4,176,865.00 |
1,192,372.11 |
250% |
The increase in operating income corresponds to the increase in taxes and surcharges |
|
Selling expenses |
12,315,657.32 |
3,383,935.94 |
264% |
The growth of operating income, especially the increase in sales of customers in other regions, has led to a significant increase in transportation costs; the increase in income has led to a corresponding increase in quality claim costs based on operating income. |
|
Research and development expenses |
23,402,148.36 |
12,328,413.39 |
90% |
Increased investment in research and development due to the development of new projects |
|
Financial expenses |
4,560,241.22 |
2,662,824.40 |
71% |
Lower interest expense due to government loan interest subsidies received during the same period |
|
Other income |
2,423,854.97 |
1,627,017.91 |
49% |
500,000 yuan of handling fees for individual income tax withholding and remittance were received during the current period |
|
Investment income (losses are indicated by "-") |
2,897,234.82 |
1,230,580.32 |
135% |
Joint ventures returned to profitability, increasing investment income |
|
Fair value change income (losses are indicated by "-") |
-2,508,679.94 |
|
- |
Impact of fluctuations in securities investment prices |
|
Credit impairment losses (losses are indicated by "-") |
593,404.83 |
6,180,681.63 |
-90% |
Affected by fluctuations in accounts receivable balance |
|
Non-operating income |
498,047.19 |
1,641,970.45 |
-70% |
1.25 million yuan in government project training rewards were received during the same period |
|
Net Profit Attributable to Shareholders of the Listed Company |
102,589,501.53 |
44,245,204.28 |
131.87% |
|
|
Basic Earnings Per Share (Yuan/Share) |
0.44 |
0.25 |
76% |
Growth in operating income and enhanced profitability |
- Analysis of the progress, impact, and solutions of important matters
- Unfulfilled commitments that have expired during the reporting period
- Warnings and explanations of reasons why the cumulative net profit from the beginning of the year to the end of the next reporting period may be a loss or a significant change compared to the same period of the previous year
|
Company Name |
Xiangyang Changyuan Donggu Industrial Co., Ltd. |
|
Legal Representative |
Li Zuoyuan |
|
Date |
April 19, 2021 |
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