[中报]建车B(200054):2022年半年度报告（英文版）
原标题:建车B:2022年半年度报告（英文版） The Semi-Annual Report 2022 August 31,2022 I. Important Notice, Table of Contents and Definitions The Board 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, accuracy 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 enclosed 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 prepared both in English and Chinese. When there is any conflict in understanding, the Chinese version shall prevail. The Company has described the Company's risk factors in detail in this report, so please refer to the content of the Company's risk factors in this report. The Company will not distribute cash dividend or bonus shares, neither capitalizing of common reserves for the report period. Table of Contents I.Important Notice, Table of contents and Definitions II. Company Profile & Financial Highlights. III. Management 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 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 of the Company’s documents and public notices publicized by the presses designated by China Securities Regulatory Commission in the report period. Definition
II. Company Profile & Financial Highlights. 1.Company Profile
(1)Way to contact the Company Whether registrations address, offices address and codes as 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 2021 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 The 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 2021Annual Report. (3) Other relevant information Did any change occur to other relevant information during the reporting period? □ Applicable √ Not applicable 4.Summary of Accounting data and Financial index May the Company make retroactive adjustment or restatement of the accounting data of the previous years □ Yes √ No
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 No difference. 6.Items and amount of deducted non-current gains and losses √ Applicable □ Not applicable In RMB
None For the Company’s non-recurring gain/loss items as defined in the Explanatory Announcement No.1 on information disclosure for Companies 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-recurring 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 –recurring gain/loss in the report period. III. Management Discussion & Analysis Ⅰ.Main Business the Company is Engaged in During the Report Period According to data from the China Association of Automobile Industry Statistics, in the first half of 2022, the production and sales of automobiles were 12.117 million units and 12.057 million units, up 28.2% and 23.8% respectively over the previous year; thereinto, the production and sales of new energy vehicles were 2.661 million units and 2.6 million units, up 133.4% and 129.2%respectively over the previous year. The Company belongs to the automobile parts manufacturing industry, mainly engages in the production and sales of automobile air-conditioning compressors, and provides supporting business for automobile OEMs. The Company’s products include rotary vane iron and aluminum compressors, piston swash plate fixed displacement compressors and electric compressors, covering 32cc to 480cc displacement. From the perspective of industry development trends, the rotary vane technology will face the ceiling, and the Company needs to speed up the digestion and introduction of new technology products such as vortex electric. In the first half of the year, affected by the epidemic at home and abroad and the shortage of the supply chain by auto OEMs, the Companyachieved sales of automobile air-conditioning compressors of 582,300 units, a YOY decrease of 47.42%, and realized the operating income of 239.13 million yuan, a YOY decrease of 47.67%. II. Analysis On core Competitiveness Product pedigree construction: On the basis of introducing the world's advanced technology, the Company actively carries out independent innovation. After years of development, the product pedigree and technical system are becoming increasingly complete; Including rotary vane compressor, swash plate fixed-displacement and variable-displacement and electric compressor with complete intellectual property rights, forming five product platforms of "rotary vane iron/aluminum, piston fixed/variable-displacement and electric compressor"; The products cover 18CC to 480CC displacement. Innovation platform construction: The Company has built a "1+3+1" scientific and technological innovation platform (national post-doctoral workstation+Chongqing Enterprise Technology Center, Chongqing Automobile Thermal Management System Engineering Technology Research Center, Chongqing Automobile Air Conditioning Compressor Key Laboratory+Chongqing Jiulongpo Innovation Center), which provides a strong platform support for the transformation and upgrading of automobile thermal management products, the development of applied basic research and innovative research on key technologies, the cultivation of scientific and technological talents, and technological industrialization. The Company has established a Industry-University- Research platform with China Automotive Engineering Research Institute, Shanghai Jiaotong University and Chongqing Jiaotong University, mainly to study the working mechanism of compressors and noise optimization of compressors, and to tackle key technical bottlenecks. R&D capacity building: The Company has the largest and most functional experimental testing center for automotive air-conditioning compressors in Southwest China. It has imported more than 50 sets of advanced equipment for reliability test, system test, performance test and NVH test from abroad, with a value of more than simulation and analysis capabilities and trial production and processing capabilities. In recent years, 12 major new products in Chongqing have been approved, more than 20 provincial and ministerial level science and technology awards have been won, and more than 200 patents have been applied for, including more than 40 invention patents. Manufacturing capacity building: it has the domestic first-class high-precision parts manufacturing base and Chongqing municipal digital workshop. It possesses more than 40 parts machining production lines, more than 260 sets high-precision and high-quality processing equipment, and 9 product assembly lines. The equipment is with a total value of more than RMB 650 million, and more than 80% of which are imported from Japan, the United States, Germany, Switzerland, South Korea and other countries. The machining and assembly accuracy are all micron-level, and MARPOSS online detection is widely used, so its machining accuracy and assembly automation degree are at the leading level in China. Quality capacity building: The Company always adheres to the tenet of "Quality first, customer oriented", and is committed to running quality work through all aspects of the Company, and constantly improving product quality, service quality and quality-price ratio. The Company has always continuously improved its management ability, actively assumed social responsibilities, passed the IATF 16949 certified by DNV, an international authoritative certification body, as well as OHSAS18001 and ISO14001 management system certification, connected with international manufacturers, and introduced the general QSB+ quality management system, Ford Q1 system, Changan QCA system and Nissan GK site management concept to continuously improve its management level. Talent team building: The Company has 118 scientific and technical personnel, including 458 R&D personnel among 10,000 employees, of which 80% have bachelor degree or above, and 11% have senior professional titles. The Company has established an academic committee of key laboratories, set up 4 company-level scientific and technological innovation teams, including basic research and experimental technology research of air- conditioning compressors, A total of 5 high-end talents have been introduced for the fields of new energy vehicle heat pump system, electric compressor and electronic control, motorcycle EFI system, etc. and 9 doctors in the national postdoctoral workstation. III. Main business analysis Refer to relevant contents of “1.Summarization” in “Discussion and Analysis of Management”. Changes in the financial data In RMB
The profit composition or sources of the Company have remained largely unchanged during the report period. Component of Business Income In RMB
with Profit over 10% √ Applicable □Not applicable In RMB
business based on latest on year’s scope of period-end. □ Applicable √Not applicable Explanation for a year-on –year change of over 30% □ Applicable √ Not applicable IV. Non-core business analysis √ Applicable □Not applicable In RMB
1.Significant changes in asset composition In RMB
□ Applicable √ Not applicable 3.Asset and Liabilities Measured by Fair Value □ Applicable √ Not applicable 4. Restricted asset rights as of the end of this Reporting Period The ending balance of monetary funds is RMB 41.70 million, which is the bank acceptance bill deposit and time deposit, and is fund with restricted use. VI. Analysis on investment Status 1. General √ Applicable □ Not applicable
3.Situation of the Significant Non-equity Investment Undergoing in the Report Period √ Applicable □ Not applicable In RMB
（1）Securities investment □ Applicable √ Not applicable No such cases in the Reporting Period （2）Investment in Derivatives □ Applicable √ Not applicable No such cases in the Reporting Period 5.Application of the raised capital □ Applicable √ Not applicable No such cases in the Reporting Period VII. Sales of major assets and equity 1. Sales of major assets √ Applicable □ Not applicable
VIII. Analysis of the Main Share Holding Companies and Share Participating Companies √ Applicable □ Not applicable Situation of Main Subsidiaries and the Joint-stock Company with over 10% net profit influencing to the Company
Description of the main holding and participating companies The wholly-owned subsidiary Construction Air Conditioning is mainly engaged in the production and sales of fixed displacement compressors for vehicle air conditioners. In the first half of the year, 582,300 automotive air-conditioning compressors were sold, a YOY decrease of 47.42%. It achieved the operating income of 200.08 million yuan, a YOY decrease of 51.02%. The net profit was -23.87 million yuan, a YOY decrease of 24.75 million yuan. The sharp drop in net profit was due to the decline in sales in the current period. Pingshan Taikai, a wholly-owned subsidiary, is mainly engaged in the production and sales of carburetors and parts for engines. In the first half of the year, it sold 170,000 carburetors, 160,000 setsEFI and components, and 330,000 auto parts, up 11%, 33% and 265%respectively compared with the same period of the previous year, and it achieved the operating income of 34.03 million yuan, a YOY increase of 19%, with a net profit of 7.38 million yuan-a YOY increase of 6.72 million yuan. The substantial increase in net profit was due to the write-off of dismissal benefits accrued in previous years The joint venture Construction Hanon is mainly engaged in the production and sales of variable displacement compressors. In the first half of the year, 245,500 units of variable displacement compressors were sold; a YOY decrease of 13.44%, and it achieved the operating income of 128.24 million yuan, a YOY decrease of 16.12%, and IX．Structured vehicle controlled by the Company □ Applicable √ Not applicable X. Risks facing the Company and countermeasures Problems or risks faced: First, the automotive air-conditioning compressor industry is facing the dilemma of high technical thresholds, large investment and many technical routes for the transformation of the new four modernizations, rapid iteration of compressor products, rising raw material prices, tightening payment terms for OEMs, and supply chain safety and other factors,which poses certain risks to the Company, and the industry competition is further intensified; second, the Company's product scale efficiency is yet not high and the profit margins are low; third, the new energy products have not yet formed in scale and are not competitive; fourth, the key core technologies still need to be vigorously tackled, and the speed of product innovation needs to be further accelerated; fifth, the structure of the talent team is not optimal, and there is a lack of high-end leading talents, yet there is a long way to go to promote the high-quality development of the Company. Measures taken: First, accelerate the high-quality development of the industry and focus on improving economies of scale. Insist on consolidating the traditional basis, dig deep into the current market for increment, （未完）  |