建车B：2021年半年度报告（英文版）.PDF

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1、Chongqing Jianshe Vehicle System Co., Ltd. The Semi-Annual Report 2021 1 Chongqing Jianshe Vehicle System Co., Ltd. The Semi-Annual Report 2021 2021-046 August 2021 Chongqing Jianshe Vehicle System Co., Ltd. The Semi-Annual Report 2021 2 I. Important Notice, Table of Contents and Definitions The Boa

2、rd of Directors，the Supervisory Committee, the directors, the supervisors, and executives of the Company guarantee that there are no significant omissions, fictitious or misleading statements carried in the Report and we will accept individual and joint responsibilities for the truthfulness, accurac

3、y and completeness of the Report. Mr.Yan Xuechuan, The Company leader, Mr. Tan Mingxian, Chief financial officer and the Ms.Niu Yanli, the person in charge of the accounting department (the person in charge of the accounting )hereby confirm the authenticity and completeness of the financial report e

4、nclosed in the semi-report. All the directors attended the board meeting for the review of this Report. Prospective statements carried in this report, such as business plans for future are not constituting any substantial commitment to the investors. Please be cautious to the risks. This report is p

5、repared both in English and Chinese. When there is any conflict in understanding, the Chinese version shall prevail. The Company has described the Companys risk factors in detail in this report, so please refer to the content of the Companys risk factors in this report. The Company will not distribu

6、te cash dividend or bonus shares, neither capitalizing of common reserves for the report period. Chongqing Jianshe Vehicle System Co., Ltd. The Semi-Annual Report 2021 3 Table of Contents I.Important Notice, Table of contents and Definitions II. Company Profile & Financial Highlights. III. Managemen

7、t Discussion & Analysis IV. Corporate Governance V. Environmental & Social Responsibility VI. Important Events VII. Change of share capital and shareholding of Principal Shareholders VIII. Situation of the Preferred Shares IX. Corporate Bond X. Financial Report Chongqing Jianshe Vehicle System Co.,

8、Ltd. The Semi-Annual Report 2021 4 Documents available for inspection I. The semi-report carrying personal signature and seal of the Chairman of the Board; II. Financial Statements with signatures of the legal representative, the financial officer, and accounting manager; III. All of the originals o

9、f the Companys documents and public notices publicized by the presses designated by China Securities Regulatory Commission in the report period. Chongqing Jianshe Vehicle System Co., Ltd. The Semi-Annual Report 2021 5 Definition Terms to be defined Refers to Definition Company, the Company, Jianmo S

10、tock, Jianshe Vehicle B Refers to Chongqing Jianshe Vehicle System Co., Ltd. Shenjianmo Refers to Shenzhen North Jianshe Motorcycle Co., Ltd. (predecessor of the Company) Jianmo B Refers to Chongqing Jianshe Motorcycle Co., Ltd. (predecessor of the Company) Military Equipment Group（Southern Group） R

11、efers to China Military Equipment Group Co., Ltd. (China Southern Industry Group Co., Ltd.) Military Finance Co. Refers to Military Equipment Group Finance Co., Ltd. Jianshe Industry Refers to Chongqing Jianshe Industry Co., Ltd. former State-owned Jianshe Machinery Factory, Jianshe Industry (Group)

12、 Co., Ltd. Jianshe Group Refers to Jianshe Industrial (Group) Co., Ltd. Jianshe Mechanical and Electric Refers to Chongqing Jianshe Mechanical and Electric Co., Ltd. HANON,KOREA HANON Refers to Korea Hanon System Co., Ltd. Jianshe HANON Refers to Chongqing Jianshe HANON Automobile Termal Management

13、System Co., Ltd. Changan Auto Refers to Chongqing Changan Automobile Co., Ltd. Vehicle air conditioner Refers to Chognqing Jianshe Automobile Air-conditioner Co., Ltd. Import & Export Co. Refers to Chongqing Northern Jianshe Import & Export Co., Ltd. Shanghai Jianshe Refers to Shanghai Jianshe Motor

14、cycle Co., Ltd. Chongqing Jianya Refers to Chongqing Jianshe YAMAHA Motorcycle Co., Ltd. Pingshan Taikai Refers to Chongqing Pingshan Taikai Carburetor Co., Ltd. South Air International Refers to South Air International Co., Ltd. Minsheng Logistics Refers to Chongqing Changan Minsheng APLL Logistics

15、 Co., Ltd. Chongqing Jianshe Vehicle System Co., Ltd. The Semi-Annual Report 2021 6 II. Company Profile & Financial Highlights. 1.Company Profile Stock ID Jianshe Vehicle B Stock Code 200054 Stock Exchange Listed in Shenzhen Stock Exchange Company Name in Chinese 重庆建设汽车系统股份有限公司 Short form of Company

16、 Name in Chinese 建车 B Company Name in English Chongqing Jianshe Vehicle System Co., Ltd Short form of Company Name in English JSVS-B Legal representative: Yan Xuechuan 2. Contact person and contact manner Secretary of the Board Representative of Stock Affairs Name Zhang Hushan Li Wenling Address No.

17、1 Jianshe Road, Huaxi Industrial Zone, Banan District, Chongqing No.1 Jianshe Road, Huaxi Industrial Zone, Banan District, Chongqing Tel. 023-66295333 023-66295333 Fax. 023-66295333 023-66295333 E-mail. 3.Other (1)Way to contact the Company Whether registrations address, offices address and codes as

18、 well as website and email of the Company changed in reporting period or not Applicable Not Applicable The registered address, office address and their postal codes, website address and email address of the Company did not change during the reporting period. The said information can be found in the

19、2020 Annual Report. （2）About information disclosure and where this report is placed Did any change occur to information disclosure media and where this report is placed during the reporting period? Applicable Not applicable Chongqing Jianshe Vehicle System Co., Ltd. The Semi-Annual Report 2021 7 The

20、 newspapers designated by the Company for information disclosure, the website designated by CSRC for disclosing this report and the location where this report is placed did not change during the reporting period. The said information can be found in the 2020Annual Report. 4.Summary of Accounting dat

21、a and Financial index May the Company make retroactive adjustment or restatement of the accounting data of the previous years Yes No Reporting period Same period of last year YOY+/-（%） Operating income（Yuan） 456,964,429.02 334,590,261.85 36.57% Net profit attributable to the shareholders of the list

22、ed company（Yuan） -7,897,586.77 -34,695,420.32 77.24% Net profit after deducting of non-recurring gain/loss attributable to the shareholders of listed company（Yuan） -10,124,040.91 -34,498,131.49 70.65% Cash flow generated by business operation, net（Yuan） 21,754,020.41 73,121,893.98 -70.25% Basic earn

23、ing per share(Yuan/Share) -0.0662 -0.2906 77.22% Diluted gains per share(Yuan/Share) -0.0662 -0.2906 77.22% Weighted average ROE(%) -4.66% -22.41% 17.75% As at the end of the reporting period As at the end of last year YOY+/-（%） Gross assets (Yuan) 1,162,184,646.39 1,186,697,453.77 -2.07% Shareholde

24、rs equity attributable to shareholders of the listed company（Yuan） 165,691,086.29 173,588,673.06 -4.55% 5. Differences between accounting data under domestic and overseas accounting standards 1. Differences of net profit and net assets disclosed in financial reports prepared under international and

25、Chinese accounting standards. Applicable Not applicable No difference. 2. Differences of net profit and net assets disclosed in financial reports prepared under overseas and Chinese accounting standards. Applicable Not applicable Chongqing Jianshe Vehicle System Co., Ltd. The Semi-Annual Report 2021

26、 8 No difference. 6.Items and amount of deducted non-current gains and losses Applicable Not applicable In RMB Items Amount Notes Non-current asset disposal gain/loss(including the write-off part for which assets impairment provision is made) 1,566,473.14 Government subsidy recognized in current gai

27、n and loss(excluding those closely related to the Companys business and granted under the states policies) 461,493.97 Other non-business income and expenditures other than the above 198,487.03 Total 2,226,454.14 - For the Companys non-recurring gain/loss items as defined in the Explanatory Announcem

28、ent No.1 on information disclosure for Compaines Offering their Securities to the Public-Non-recurring Gains and Losses and its non-recurring gain/loss items as illustrated in the Explanatory Announcement No.1 on information Disclosure for Companies offering their securities to the public-non-recurr

29、ing Gains and losses which have been defined as recurring gains and losses, it is necessary to explain the reason. Applicable Not applicable None of Non-recurring gain /loss items recorgnized as recurring gain /loss/items as defined by the information disclosure explanatory Announcement No.1- Non re

30、curring gain/loss in the report period. Chongqing Jianshe Vehicle System Co., Ltd. The Semi-Annual Report 2021 9 III. Management Discussion & Analysis .Main Business the Company is Engaged in During the Report Period The company engages mainly in production and sales of the vehicle air compressor in

31、cluding the vane iron and aluminous compressor, piston swash-plate fixed discharge rate compressor, piston swash-plate variable discharge rate compressor and motor compressor (with the discharge rate from 32cc to 480cc), has been awarded “China Famous Brand”, “High-quality Product of French Technolo

32、gical Quality Surveillance Evaluation Commission” and “China Recommended Product for Entry into WTO”, etc. for products and has the strategical cooperative partners including the leading production and sales volume in terms of finished automobile such as PEUGEOT , Great Wall Motors ,Chanan Auto, Gee

33、ly Auto and Dongfeng Nissan , etc. In the first half of the year, the Company achieved sales of 1,107,500 units of automotive air-conditioning compressors, a YOY increase of 29.56% and completed 57.7% of the annual plan. Among them, the domestic sales achieved sales of 577,700 units, a YOY increase

34、of 12.60%; the foreign trade achieved sales of 529,800 units, a YOY increase of 55.03%. Due to the increase in the Companys product sales, the Companys business revenue was increased by 36.57% YOY. Among them, the domestic market sales revenue was increased by 29.20% YOY, and the foreign market sale

35、s revenue was increased by 49.84% YOY. During the reporting period, the operating income of the Companys joint venture-Construction Hanon was increased by 265% YOY, and it turned into a profit, resulting in a YOY loss decrease by 8.98 million yuan to the Companys investment income. The increase in t

36、he Companys operating income and investment income during the reporting period was the main reason for the loss reduction of 26.8 million yuan in the current period. II. Analysis On core Competitiveness R&D capability: The Company has the largest and most complete automotive air-conditioning compres

37、sor experimental testing center in Southwest China, and it has imported more than 50 sets of advanced reliability testing, system testing, performance testing, NVH experimental testing equipment and other equipment from abroad, which is worth more than 50 million yuan. In recent years, 12 major Chon

38、gqing city new products have been approved, and more than 20 scientific and technological awards above the provincial and ministerial level have been obtained and more than 150 various types patents including 25 invention patents have been applied. The members with senior titles of the Companys R&D

39、team accounts for 18%, and the Company has a “1+3+1” technology innovation platform (National Postdoctoral Workstation + Chongqing Enterprise Technology Center, Chongqing Automotive Thermal Management System Engineering Technology Research Center, Chongqing Automotive Air Conditioner Compressor Key

40、Laboratory + Innovation Center of Jiulongpo District Chongqing City), and it has built industry-leading NVH testing and analysis capabilities, as well as formed an integrated trial-manufacturing capability from CADCAECAM. The production cycle of new product prototype only takes about 7 days. . Manuf

41、acturing capacity: it has domestic first-class high-precision parts manufacturing base, Chongqing municipal digital workshop, with an annual output of 2.5 million compressors; It has more than 40 parts machining production lines, more than 260 sets of high-precision and high-quality processing equip

42、ment, and 9 general assembly lines with equipment value of more than RMB 650 million, of which more than 80% of the equipment is imported from Japan, the United States, Germany, Switzerland, South Korea and other countries; With a machining and assembly accuracy of micron, MARPOSS is largely used fo

43、r online inspection, and the machining accuracy and assembly automation are at the leading level in China. Chongqing Jianshe Vehicle System Co., Ltd. The Semi-Annual Report 2021 10 Quality assurance ability: The company always adheres to the tenet of quality first, customer foremost, and is committe

44、d to carrying out quality work in all links of the company, and constantly improving product quality, service quality and quality-price ratio. Passed the IATF 16949 certified by the international authoritative certification organization DNV, the OHSAS18001 and ISO14001 management system certificatio

45、ns, and introduced general QSB+ quality management system, Ford Q1 system, Changan QCA system and Nissan GK on-site management concepts, and continued to improve quality assurance capabilities, and have been fully recognized by major customers such as Changan Auto and Great Wall Motor. Product pedig

46、ree: Based on the introduction of the worlds advanced technology, the Company actively carried out independent innovation. After years of development, the product series and technical system have become more and more complete. Five product platforms of rotating vane iron/aluminum, piston fixed/varia

47、ble, and electric product have been formed, covering displacements from 18CC to 480CC, which can fully meet customer needs. III. Main business analysis Refer to relevant contents of “1.Summarization” in “Discussion and Analysis of Management”. Changes in the financial data In RMB This report period

48、Same period last year YOY change（%） Cause change Operating income 456,964,429.02 334,590,261.85 36.57% Sales increase Operating cost 399,274,067.43 299,582,322.70 33.28% Sales increase Sale expenses 10,384,056.14 8,737,461.10 18.85% Administrative expenses 33,501,329.26 34,235,208.92 -2.14% Financia

49、l expenses 13,677,232.04 11,099,827.93 23.22% Financing structure changes Income tax expenses -1,279,343.82 R & D Investment 8,173,694.94 6,371,705.72 28.28% Increase investment in scientific research Cash flow generated by business operation, net 21,754,020.41 73,121,893.98 -70.25% Increase in cash

50、 payment for purchases Net cash flow generated by investment -1,583,237.10 -996,035.66 -58.95% Investment increase Net cash flow generated by financing -42,103,206.93 -60,462,986.84 30.37% Financing structure changes Net increasing of cash and cash equivalents -21,942,375.49 11,662,871.48 -288.14% I