Anhui Zhongding Sealing Parts Co.,Ltd. Abstract of the Semi-Annual Report 2024
Anhui Zhongding Sealing Parts Co.,Ltd.
Abstract of the Semi-Annual Report 2024
Stock Abbreviation：Zhongding Stock
Stock Code：000887
August 2024
Anhui Zhongding Sealing Parts Co.,Ltd. Abstract of the Semi-Annual Report 2024
1. Important statement
This is an abstract of the Semi-Annual Report 2024. Investors are suggested to read the complete version of the
Semi-Annual Report 2024 on the media, which is designated by the China Securities Regulatory
Commission(the "CSRC") to have a full understanding of operational results, financial statements, and future
plans of the Company.Should there be any inconsistency between the Chinese version and English version, the
Chinese version shall prevail.
All directors have attended this semi-annual report meeting of the board of directors.
Non-Standard Auditor’s Opinion
□ Applicable √ N/A
The preliminary plan for dividend distribution and converting capital reserves into share capital for common
shareholders which were considered and approved by the Board during the reporting period
□ Applicable √ N/A
The company doesn’t plan to distribute cash dividends 、stock dividend and convert capital reserves into share
capital.
The preliminary plan for dividend distribution for preferred shares in the reporting period was approved by the
Board.
□ Applicable √ N/A
2. The Basic Information of the Company
A. Company profile
Stock Abbreviation Zhongding Stock Stock Code 000887
Stock Exchange On Which the Shares of
ShenZhen Stock Exchange
the Company are listed
Contact Us Board Secretary Securities Affairs Representative
Name Jiang Weijian Wang Songyuan
Zhongding Industrial Park, Economic Zhongding Industrial Park, Economic
Address and Technological Development Zone, and Technological Development Zone,
Ningguo City, Anhui Province Ningguo City, Anhui Province
Tel. 0563-4181887 0563-4181887
Email jiangwj@zhongdinggroup.com wangsy@zhongdinggroup.com
B. The main financial data and financial indicator
Whether the Company performed a retroactive adjustment to or restatement of accounting data
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Anhui Zhongding Sealing Parts Co.,Ltd. Abstract of the Semi-Annual Report 2024
□Yes No
The same period of
The reporting period YoY(%)
last year
Operating revenue（RMB ） 9,669,195,454.94 8,188,606,870.57 18.08%
Net profit attributable to shareholders of the listed
716,233,214.33 531,210,932.73 34.83%
company (RMB)
Net Profit Attributable to Shareholders of the Listed
Company after Deducting Nonrecurring Gains and 642,098,364.57 454,172,773.72 41.38%
Losses (RMB)
Net cash flow from operating activities (RMB) 713,903,956.28 403,288,126.03 77.02%
Basic earnings per share (RMB Yuan /share) 0.54 0.40 35.00%
Diluted earnings per share (RMB Yuan /share) 0.54 0.40 35.00%
Weighted average ROE(%） 5.80% 4.72% 1.08%
As at the end of the As at the end of last
YoY(%)
reporting period year
Total assets(RMB) 23,334,397,373.47 22,844,191,495.69 2.15%
Net assets attributable to shareholders of the listed
12,458,562,369.45 12,064,199,955.89 3.27%
Company（RMB）
C. The Number and Shareholdings of the Company’s Shareholders
Unit:share
Total number of
common At the end of the report period,
Number of shareholders of
shareholders at 60,672 0
preferred stocks ofwhich
the end of the voting rights recovered(If any)
Reporting Period
Top ten common shareholders
Shareho Number of restricted Pledged or frozen shares
Total shares held at
Name of Nature of lding
the end of the shares held
Shareholders Shareholders percenta Status Number
reporting period
ge
Anhui
Zhongding Domestic non- 142,500,00
Holding state-owned 40.46% 532,701,321 Pledged
(Group) corporation 0
Co., Ltd.
Hong Kong
Securities Foreign
4.31% 56,771,086
Clearing Corporation
Co., Ltd.
National
Social Security
Others 1.74% 22,931,603
Fund 102
portfolio
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Anhui Zhongding Sealing Parts Co.,Ltd. Abstract of the Semi-Annual Report 2024
China Life
Insurance Co
Ltd.－
Traditional－
General Others 1.08% 14,264,051
insurance
product-005L-
CT001hu
Products
Ping An Bank
Co., Ltd.-
Boshi Growth
Vanguard
flexibly
Others 0.87% 11,440,863
allocates
hybrid
securities
investment
funds
Domestic
Miaosu natural 0.75% 9,808,102
person
Agricultural
Bank of China
Limited -
China
Securities 500
Others 0.72% 9,490,029
exchange-
traded Index
Securities
Investment
Fund
Shanghai
Pudong
Development
Bank Co.LTD-
Yi Fang Da
Others 0.69% 9,118,072
Yu Xiang
Return Bond
Securities
Investment
Fund
China
Construction
Bank Co., Ltd.
-China Europe
Growth
Preferred Others 0.69% 9,064,544
Return
Flexible
Allocation of
Hybrid
Initiated
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Anhui Zhongding Sealing Parts Co.,Ltd. Abstract of the Semi-Annual Report 2024
Securities
Investment
Fund
China
Construction
Bank
Corporation -
Boshi Theme
Others 0.63% 8,231,441
Industry
Mixed-Type
Securities
Investment
Fund (LOF)
Explanation of the
The company does not know whether there is an associated relationship
related relationship or between the shareholders, and whether it is a person acting in concert
concerted action of the stipulated in the "Administrative Measures for the Disclosure of Information
above shareholders on Changes in Shareholdings of Shareholders of Listed Companies".
Description of shareholders As of June 30th, 2024, one of the top 10 shareholders of the Company,
participating in Shareholder Miaosu, held 9,807,441 shares of the Company through the
marginfinancing and Customer Credit Transaction Secured Securities account of Huaxi Securities
securities lending business Co., LTD.
(if any)
Share lending by shareholders with more than 5% shareholding, top 10 shareholders and top 10 holders of
nonrestricted shares under refinancing business
Applicable N/A
Unit:share
Change of top 10 shareholders and top 10 holders of non-restricted shares during the prior period as a
result of sharelending/return under refinancing arrangement
Number of shares held in Number of lending shares Number of shares held in Number of lending shares
ordinary accounts and of the securities financing ordinary accounts and of the securities financing
credit accounts at the and not be returned yet at credit accounts at the end and not be returned yet at
Name of beginning of the period the beginning period of the period the end period
shareholder
s(Full The The The The
name) proportion proportion proportion proportion
Total Total Total Total
of the total of the total of the total of the total
quantity quantity quantity quantity
share share share share
capital capital capital capital
Agricultur
al Bank of
China
Limited -
China
Securities
500 4,058,029 0.31% 1,599,000 0.12% 9,490,029 0.72% 319,500 0.02%
exchange-
traded
Index
Securities
Investment
Fund
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Anhui Zhongding Sealing Parts Co.,Ltd. Abstract of the Semi-Annual Report 2024
Changes in the top 10 shareholders and the top 10 shareholders without selling restriction due to
securitieslending/returning transactions of refinancing business compared to the previous period
Applicable N/A
D. Changes Of The Controlling Shareholder Or The Actual Controller
Change of the controlling shareholder in the reporting period
□ Applicable √ N/A
There was no any change of the controlling shareholder of the Company in the reporting period
Change of the actual controller in the reporting period
□ Applicable √ N/A
There was no any change of the actual controller of the Company in the reporting period
E. The Table Of The Total Number Of The Company’s Preferred Shareholders And The Shareholding
Situation Of Top 10 Preferred Shareholders
□ Applicable √ N/A
There is no shareholding of preferred shareholders during the reporting period.
F. Status Of The Bonds Existing On The Date Of Approval Of The Semi-Annual Report
□ Applicable √ N/A
3. Important Items
The company continued to promote the cost control and refined management of overseas factories and it
further carried out a series of measures such as cost optimization and non-core business divestiture of overseas
enterprises, which increased the speed and certainty of overseas business recovery; through continuous
management improvement, domestic and foreign business has been fully restored and maintained a continuous
positive growth trend and the company's overall profit gradually increased. On the basis of years of mutual
adaptation with overseas enterprises, the company has gradually strengthened the strategy of management output
and cultural output, upgraded from regional management to modular management, strengthened the cost control
of overseas enterprises, promoted business integration and market expansion, at the same time, take advantage of
the Chinese engineer bonus, and further accelerate technology absorption and innovation. While maintaining the
steady growth of traditional businesses, the company continues to promote the growth of incremental businesses
of air suspension systems, lightweight chassis systems, and fluid pipeline systems. Currently, the incremental
business has a good momentum of development. The company will continue to focus on the core strategic goal of
intelligent chassis system, and promote the company's business to move towards intelligence. The company
continued to rank among the "Top 100 Global Auto Parts Industry" (ranked 89th).
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Anhui Zhongding Sealing Parts Co.,Ltd. Abstract of the Semi-Annual Report 2024
1) Intelligent Chassis system business-Air suspension system
a. Introduction of Products
Compare to coil spring suspension, air suspension system has the advantage that the Spring stiffness can be
adjusted according to different usage scenario.Base on the different road conditions and the input from the height
and acceleration sensor, the ECU of ECAS system will identify the vehicle height change, the air height of air
spring can be adjusted through the control the air compressor and valve block to realize the lift or lowering of the
vehicle body.It can make the vehicle body more stable and improve the trafficability characteristic.The application
of ECAS system can improve the comfort and the manoeuvrability of vehicle.The scope of ECAS includes air
compressor, ECU, Multiple system sensors, air springs and shock absorber etc.
b. Future Market potential
With the coming era of new energy vehicles, the appeal of new energy vehicles intelligent, while chassis
protection air suspension system is no longer the exclusive high-end models, because the new energy vehicle
chassis system stability requirements are much higher than pure fuel vehicles, air suspension system has gradually
become the mainstream configuration of the new energy vehicle platform.
Leading voice intelligent system, intelligent air suspension system and excellent automatic driving function
are the core of current automobile intelligence.Tesla, NIO, Li Auto, Xiaopeng and other new ermerging NEV
manufacturers are also equipped with these technologies and intelligent functions such as air suspension
systems.With the further improvement of air suspension system technology and the improvement of car owners'
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Anhui Zhongding Sealing Parts Co.,Ltd. Abstract of the Semi-Annual Report 2024
recognition of the ultimate experience of air suspension products, more and more cars will be equipped with air
suspension systems to improve product superiority and customer satisfaction in the future.
In addition to the passenger car, developed countries in the vast majority of medium-sized passenger cars and
light commercial vehicles are used in the air suspension system, heavy truck in addition to the engineering car
road transport vehicle almost all use air suspension in China in 2018 effective GB7258 motor vehicle operation
safety technical conditions also require:"The rear axle of Dangerous goods transport trucks with a total mass
greater than or equal to 12,000kg, all semi-trailers for transporting dangerous goods, as well as three-axle fence
type, warehouse grid type Semi-trailers should be equipped with air suspension."
At present, the air suspension system has gradually moved from high-end to popularization and has
ultimately become an indispensable part of automobiles, especially intelligent automobiles.
c. Company industry position and business promotion
AMK Germany, as a high-end supplier of air suspension system, is one of the top three leaders in the
industry. Since entering the field of air suspension system business in the 1990s, it has continuously improved the
product assembly technology, and has been deeply engaged in the industry for more than 20 years, supporting the
world's leading vehicle manufacturers such as Jaguar,Volvo, Audi, Benz, BMW etc.
The domestic air suspension market is in its infancy, and AMK China has been accelerating the improvement
of the performance and cost optimization of the air suspension system supply chain in the Chinese passenger car
market. AMK continued to develop steadily around the strategic goals of "localization promotion, technology
iteration and upgrading, and industrial strengthening and completing". AMK China has obtained orders from
many domestic new emerging manufacturers and leading vehicle manufacturers.
Dingyu Technology, a subsidiary of the company, relying on the group's core advantages in the rubber field,
focuses on the research and development and production of air spring, and will actively promote technological
breakthroughs to further improve the performance of related products. At present, the air spring and gas storage
tank products have obtained orders. At the same time, the company is also accelerating the layout of the
magnetorheological shock absorber project, we are also accelerating the construction of the project production
line.
Up to now, the comp has received orders with a total output value of 14.4billion RMB, of which the total
output value of the assembly product order is about 1.7 billion yuan. It is expected to get more orders in the future.
2) Intelligent Chassis System Business-Lightweight chassis system
a. Introduction of Products
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Anhui Zhongding Sealing Parts Co.,Ltd. Abstract of the Semi-Annual Report 2024
Automotive metal parts are widely used in automotive chassis systems, including steering systems,
suspension systems, braking systems and driving systems. The lightweight of automobiles has formed a broad
consensus in the automobile manufacturing industry. The lightweight of the chassis plays a vital role in the
performance of the whole vehicle. Lightweight chassis products such as aluminum alloy control arm assemblies
have high value per vehicle, it is a core parts of operational stability and comfortability.
b. Future market potential
Due to the needs of environmental protection and energy saving, the lightweight of automobiles has become
the trend of automobile development in the world. The lightweight of automobiles is not only suitable for
traditional fuel vehicles, for new energy electric vehicles, it is also very important to reduce body weight and
achieve vehicle lightweight, because it is related to the main battery life of new energy vehicles. Experiments
have shown that in terms of acceleration performance, it takes about 10 seconds for a 1.5-ton car to accelerate to a
speed of 60 kilometers per hour; if the weight is reduced by 25%, it can be reduced to 8 seconds.
Lightweight the chassis, the benefits in terms of fuel consumption, handling, etc. far exceed the lightweight
of other components at the same level. The mass of most components on the chassis is unsprung weight.
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Anhui Zhongding Sealing Parts Co.,Ltd. Abstract of the Semi-Annual Report 2024
Relatively speaking, the mass of the body (structural parts, reinforcements parts and coverings parts) is sprung
weight. It is generally believed that the effect of the same magnitude of unsprung weight reduction is 5-15 times
that of the sprung weight reduction. At the same time, lightening the unsprung weight increases the ratio of the
sprung mass to the unsprung weight, which is equivalent to the athlete removing the sandbag tied to the legs,
which can significantly improve the response speed and comfort of the car during acceleration, braking and
steering.
c. Company industry position and business promotion
In recent years, the company has been vigorously developing chassis lightweight system assembly products,
and the forged aluminum control arm assembly project has made breakthrough progress. At the same time, its
subsidiary Sichuan Wangjin Company, whose core technology is the ball joint assembly product, is the core safety
component and performance component of the chassis system. It has the world's leading technology and has a
very high technical threshold.
With the continuous advancement of the company's lightweight chasis system assembly business, it has
obtained orders from many traditional OEMs such as Benz, Changan, Cherry, GAC, BYD, etc. While maintaining
the steady development of the domestic lightweight business, the company is also actively laying out the overseas
lightweight market. At present, the company's lightweight factories in Slovakia and Mexico are under construction.
In Semi-Annual 2024, the company's lightweight business accumulated orders of about 4.6 billion yuan.
3) TMS system
a. Introduction of Products
German TFH, a subsidiary of the company, has been promoting R&D and production of thermal
management pipeline products. On the basis of supporting traditional thermal management pipelines, TFH
vigorously promotes the thermal management pipeline system assembly business of new energy vehicles, and
actively expands the application of new materials in products. TFH vigorously develops the application of nylon
pipes and TPV materials. Compared with traditional internal combustion engine pipes, the application of new
technologies can make products lighter in weight, lower in cost, and more flexible in assembly. In addition, it can
maintain good NVH and flexibility. With its innovative and technologically swift updating capabilities, TFH is
able to respond to changes in hybrid and fuel cell vehicles and is actively engaged in advanced development
projects with several OEMs customers.
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Anhui Zhongding Sealing Parts Co.,Ltd. Abstract of the Semi-Annual Report 2024
b. Future market potential
As the temperature control requirement for battery modules of the new energy vehicle is much higher than
those of traditional vehicles, and also because of the absorption of TFH pipeline assembly technology, The
temperature control requirements of new energy vehicle battery modules are much higher than those of traditional
vehicles. At the same time, with the company's digestion and absorption of TFH pipeline assembly technology,
the company's fluid pipeline products were priced at around 300 yuan per vehicle in traditional vehicles before.
Now, they can be priced at over 1000 yuan per vehicle in new energy vehicles, and can be priced at 1500 yuan for
extended range vehicles. At the same time, the TMS assembly can reach 5000 yuan. With the continuous
development of new energy vehicles, the rapid growth of AI algorithm, and the increasingly strict requirements
for PUE energy efficiency, the market for TMS for NEV,TMS for ESS, and TMS for IDC is also rapidly
expanding.
c. The company's industry status and business promotion
The company has been promoting the R&D and production of thermal management pipeline products for
many years, and its subsidiary German TFH is just an excellent supplier of thermal management pipeline
assembly products for engines and new energy vehicle batteries. TFH has the exclusive production technology
creatube process with independent patent and the core technology of TPV hose and nylon tube, which ranks
among the top two in the world in the industry segment. The company vigorously promotes the business of
thermal management pipeline system assembly for new energy vehicles, and currently it has been supplied to
BMW, Volkswagen,Volvo, Audi, Geely, Xiaopeng and LI and other new energy vehicle platforms.
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Anhui Zhongding Sealing Parts Co.,Ltd. Abstract of the Semi-Annual Report 2024
Anhui Zhongding Fluid System Co.,Ltd. and Zhongding Intelligent TMS Co.,Ltd. , the company’s
subsidiaries, lead the development of TMS assembly business, actively layout the research and production of
TMS assembly and core products, and have independent intellectual property rights. At present, a series of
products have been launched, such as TMS for ESS, TMS for IDC, TMS controller, PT sensor, Manifold and
other. The company is also actively promoting the implementation of more NEV TMS products. In Semi-annual
2024 , the company's TMS business has accumulated orders of approximately 5.6 billion yuan.
4) Sealing System
The company’s subsidiaries, KACO GmbH + Co. KG in Germany, Cooper in the United States, and
ACUSHNET in the United States, have the top three sealing technologies in the world. KACO actively promotes
the portfolio for NEV on behalf of the companies under the sealing system, and has successfully developed and
matched new energy motor seals of high-performance. At the same time, the company has developed the mass-
produced products for new energy battery module sealing systems and electric axle assemblies now, which are
delivered to NEV platforms of Volvo, SAIC, GAC and NIO.
The automotive sealing industry is a high-tech barrier industry with extremely high requirements for
reliability. Dynamic seal has the most difficult technology in the sealing industry, especially the high-speed oil
seal for new energy vehicle motors, which represents the most advanced technical level in the global sealing
industry. In recent years, the company has continued to increase the speed of business expansion, especially in the
American brand car and local brand customers, which has made great breakthroughs, and the industry market
share has steadily increased.
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