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苏威孚B:2021年第一季度报告正文(英文版)2021-04-27  

                                                                               无锡威孚高科技集团股份有限公司 2021 年第一季度报告正文


Stock Code: 000581, 200581                                                                Notice No.: 2021-019


Short Form of the Stock: Weifu High-Tech, Su Weifu-B




                      Weifu High-Technology Group Co., Ltd.
                          Text of First Quarterly Report 2021




                                      Section I. Important Notes

Board of Directors and the Supervisory Committee of Weifu High-Technology
Group Co., Ltd. (hereinafter referred to as the Company) and its directors,
supervisors and senior executives should guarantee the reality, accuracy and
completion of the quarterly report, there are no any fictitious statements,
misleading statements or important omissions carried in this report, and shall
take legal responsibilities, individual and/or joint.
All Directors are attended the Board Meeting for Quarterly Report deliberation
Wang Xiaodong, Principal of the Company; Ou Jianbin, Person in Charge of
Accounting Works and Person in Charge of Accounting Organ (Accounting
Supervisor) hereby confirm that the Financial Report of the First Quarterly
Report is authentic, accurate and complete.




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                                                                        无锡威孚高科技集团股份有限公司 2021 年第一季度报告正文




                                            Section II. Company Profile

I. Main accounting data and financial indexes

Whether it has retroactive adjustment or re-statement on previous accounting data
□Yes √ No

                                                                                                              Changes of this period over
                                                    Current Period             Same period of last year
                                                                                                                same period of last year

Operating income (RMB)                                  4,700,158,675.54               2,772,108,717.43                             69.55%

Net profit attributable to shareholders of
                                                          861,572,997.00                 549,996,717.72                             56.65%
the listed company (RMB)

Net profit attributable to shareholders of
the listed company after deducting                        932,554,535.06                 495,225,376.36                             88.31%
non-recurring gains and losses (RMB)

Net cash flow arising from operating
                                                         -229,541,250.49                 319,204,809.86                           -171.91%
activities (RMB)

Basic earnings per share (RMB/Share)                                    0.87                           0.55                         58.18%

Diluted earnings per share (RMB/Share)                                  0.87                           0.55                         58.18%

Weighted average ROE                                               4.61%                          3.18%                                1.43%

                                                                                                              Changes of this period-end
                                                   End of this period             End of last period          over same period-end of last
                                                                                                                         year

Total assets (RMB)                                    28,619,573,993.66              27,350,695,388.21                                 4.64%

Net assets attributable to shareholder of
                                                      19,143,233,995.51              18,282,017,990.66                                 4.71%
listed company (RMB)
Items of non-recurring gains and losses
√ Applicable □ Not applicable
                                                                                                                                       In RMB

                                                                                          Amount from year-begin
                                            Item                                                                                Note
                                                                                                to period-end

Gains/losses from the disposal of non-current asset (including the write-off that
                                                                                                          1,676,181.25
accrued for impairment of assets)

Governmental subsidy reckoned into current gains/losses (not including the subsidy
enjoyed in quota or ration according to national standards, which are closely                           10,247,700.49
relevant to enterprise’s business)

Gains/losses of fair value changes from holding the transaction financial asset,
                                                                                                       -94,934,860.22
derivative financial assets, transaction financial liability and derivative financial



                                                                                                                                               2
                                                                       无锡威孚高科技集团股份有限公司 2021 年第一季度报告正文


liability and investment earnings obtained from disposing the transaction financial
asset, derivative financial assets, transaction financial liability, derivative financial
liability and other debt investment, except for the effective hedging business related
to normal operation of the Company

Other non-operating income and expenditure except for the aforementioned items                                -2,546.17

Less: impact on income tax                                                                            -12,454,718.08

        Impact on minority shareholders’ equity (post-tax)                                                422,731.49

Total                                                                                                 -70,981,538.06              --

Concerning the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure for Companies
Offering Their Securities to the Public --- Extraordinary Profit/loss, and the items defined as recurring profit (gain)/loss according to
the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their
Securities to the Public --- Extraordinary Profit/loss, explain reasons
□ Applicable √ Not applicable
In reporting period, the Company has no particular about items defined as recurring profit (gain)/loss according to the lists of
extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to
the Public --- Extraordinary Profit/loss


II. Total number of shareholders at the end of this report period and top ten shareholders

1. Common and preferred stockholders with voting rights recover and the top ten share-holding

                                                                                                                                       In Share

Total common shareholders at the end                     Total preferred stockholders with voting rights
                                                63,444                                                                                       0
of report period                                         recover at the end of report period (if applicable)

                                                           Top ten shareholders

                                                                                                                          Number of share
                                                        Proportion        Amount of         Amount of restricted          pledged/frozen
                                             Nature of
            Shareholder’s name                          of shares
                                            shareholder                   shares held           shares held
                                                           held                                                      State of
                                                                                                                                   Amount
                                                                                                                      share

Wuxi Industry Development Group Co., State-owned
                                                              20.22%        204,059,398
Ltd.                                         corporate

                                              Foreign
ROBERT BOSCH GMBH                                             14.16%        142,841,400
                                             corporate

Hong Kong Securities Clearing                 Foreign
                                                               6.36%         64,216,612
Company                                      corporate

BBH BOS S/A FIDELITY FD - CHINA               Foreign
                                                               1.60%         16,093,515
FOCUS FD                                     corporate

Central Huijin Assets Management Co., State-owned
                                                               1.27%         12,811,200
Ltd.                                         corporate

Basic Pension Insurance Fund- 1003             Other           1.09%         10,968,106


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                                                                   无锡威孚高科技集团股份有限公司 2021 年第一季度报告正文


Huatai Financial Holdings (Hong Kong)        Foreign
                                                           0.79%         7,999,998
Limited-Client fund                         corporate

FIDELITY INVMT TRT FIDELITY                  Foreign
                                                           0.73%         7,339,586
INTL SMALL CAP FUND                          corporate

Monetary Authority of Macao - own            Foreign
                                                           0.55%         5,521,441
fund                                         corporate

                                         State-owned
Haitong Securities Co., Ltd.                               0.50%         5,001,101
                                             corporate

                                         Top ten shareholders with unrestricted shares held

                                                                        Amount of                       Type of shares
                       Shareholder’s name                           unrestricted shares
                                                                                                   Type                  Amount
                                                                            held

Wuxi Industry Development Group Co., Ltd.                                    204,059,398 RMB common shares               204,059,398

                                                                                           RMB common shares             115,260,600
ROBERT BOSCH GMBH                                                            142,841,400 Domestically listed
                                                                                                                          27,580,800
                                                                                           foreign shares

Hong Kong Securities Clearing Company                                         64,216,612 RMB common shares                64,216,612

                                                                                           Domestically listed
BBH BOS S/A FIDELITY FD - CHINA FOCUS FD                                      16,093,515                                  16,093,515
                                                                                           foreign shares

Central Huijin Assets Management Co., Ltd.                                    12,811,200 RMB common shares                12,811,200

Basic Pension Insurance Fund- 1003                                            10,968,106 RMB common shares                10,968,106

Huatai Financial Holdings (Hong Kong) Limited-Client fund                     7,999,998 RMB common shares                 7,999,998

                                                                                           Domestically listed
FIDELITY INVMT TRT FIDELITY INTL SMALL CAP FUND                                7,339,586                                   7,339,586
                                                                                           foreign shares

Monetary Authority of Macao - own fund                                         5,521,441 RMB common shares                 5,521,441

Haitong Securities Co., Ltd.                                                   5,001,101 RMB common shares                 5,001,101

                                                                   Among the top ten shareholders, the Company knew there has
                                                                   no associated relationship between Wuxi Industry Development
Note of related relationship among the above shareholders and Croup Co., Ltd., the first largest shareholder of the Company,
concerted actors                                                   and other shareholders; and they do not belong to the consistent
                                                                   actionist regulated by the Management Measure of Information
                                                                   Disclosure on Change of Shareholding for Listed Company.

Whether top ten common shareholders or top ten common shareholders with un-restrict shares held have a buy-back agreement
dealing in reporting period
□ Yes √ No
The top ten common shareholders or top ten common shareholders with un-restrict shares held of the Company have no buy-back
agreement dealing in reporting period.




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                                                     无锡威孚高科技集团股份有限公司 2021 年第一季度报告正文


2. Total shareholders with preferred stock held at Period-end and shares held by top ten shareholders with
preferred stock held

□ Applicable √ Not applicable




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                                                          无锡威孚高科技集团股份有限公司 2021 年第一季度报告正文




                                     Section III. Significant Events

I. Changes in the main financial data and financial indicators during the reporting period and
the reasons

√ Applicable □ Not applicable

(i) Changes and reasons of items in balance sheet:
1. Accounts receivable in the period-end increased 1377.87 million yuan by comparing with end of last year with
48.78 percent up, mainly due to the increase in sales revenue during the reporting period;
2. Advance payment in the period-end increased 52.69 million yuan by comparing with end of last year with
34.69 percent up, mainly due to the increase in purchases during the reporting period;
3. Other receivables in the period-end decreased 18.02 million yuan by comparing with end of last year with 33.25
percent down, mainly due to the recovery of dividends receivable during the reporting period;
4. Other non-current financial assets in the period-end decreased 540.44 million yuan by comparing with end of
last year with 29.93 percent down, mainly due to the more than one year wealth management maturity during the
reporting period;
5. Deferred income tax assets in the period-end increased 78.39 million yuan by comparing with end of last year
with 39.51 percent up, mainly due to the prepayment of corporate income tax for the investment income and the
gains and losses of fair value changes during the reporting period;
6. Short-term loan in the period-end increased 433.10 million yuan by comparing with end of last year with
143.30 percent up, mainly due to the increase in bank borrowings during the reporting period;
7. Contract liabilities in the period-end decreased 39.17 million yuan by comparing with end of last year with
47.93 percent down, mainly due to the settlement of advance payment during the reporting period;
8. Wages payable in the period-end decreased 160.09 million yuan by comparing with end of last year with 48.16
percent down, mainly because paying the employee performance rewards in the reporting period;
9. Taxes payable in the period-end increased 166.03 million yuan by comparing with end of last year with 245.99
percent up, mainly due to the increase in quarterly prepayment of corporate income tax during the reporting
period;
10. Non-current liabilities due within one year in the period-end decreased 12.32 million yuan by comparing with
end of last year with 33.36 percent down, mainly because the loan repayment at maturity in the reporting period;
11. Other comprehensive income in the period-end decreased 18.89 million yuan, mainly due to the conversion
difference of foreign currency statements;

(ii) Changes and reasons of items in profit and loss statement:
1. Operating income in the period increased 1928.05 million yuan from a year earlier with 69.55 percent up,
mainly due to the rapid growth of the company’s three major system businesses;
2. Operating cost in the period increased 1604.61 million yuan from a year earlier with 71.30 percent up, mainly


                                                                                                                   6
                                                           无锡威孚高科技集团股份有限公司 2021 年第一季度报告正文


due to the rapid growth of the company’s three major system businesses;
3. R&D expenses in the period increased 44.2 million yuan from a year earlier with 59.15 percent up, mainly
because investment in research and development increased during the reporting period;
4. Investment income in the period increased 191.74 million yuan from a year earlier with 52.87 percent up,
mainly because the income from joint stock enterprise increased;
5. Gains from changes in fair value in the period decreased 86.54 million yuan from a year earlier, mainly because
the fair value of other equity investment, such as Guolian Securities etc. declined from a year earlier;
6. The total profit in the period increased 348.68 million yuan from a year earlier with 58.84 percent up, mainly
because benefiting from the boom in the automotive industry, especially the commercial vehicle market, the
company's main products are booming in production and sales;

(iii) Changes and reasons of items in cash flow statement:
1. Net cash flow arising from operation activity in the period decreased 548.75 million yuan from a year earlier,
mainly because the increase in sales revenue and the payment due date has not arrived;
2. Net cash flow arising from investment activity decreased 395.47 million yuan from a year earlier, mainly
because the wealth management business has not expired and the cash inflow declined;

3. Net cash flow arising from financing activity increased 707.17 million yuan from a year earlier, mainly due to
the payment in 2020 caused by the repurchase of A shares by means of centralized bidding and the bank
borrowings during the reporting period increased.

II. Analysis and explanation of significant events and their influence and solutions

√ Applicable □ Not applicable
Parts of the joint-stock enterprise’s equity held by the Company freeze
1. On 6 March 2017, the Company received a legal documents mail from Shenzhen Intermediate people’s Court
in Guangdong Province (hereinafter referred to as Shenzhen Intermediate Court). Pursuit to the legal documents,
the plaintiff- China Cinda Asset Management Co., Ltd. Shenzhen Branch bring a suit against eight defendants (the
Company included) and the third party-Shenzhen Hejun Venture Holding Co., Ltd. (“Hejun Company” for short)
for damaged the interests of corporate creditors, totally two cases for suits. Shenzhen Intermediate Court accepted
the case and issued the Civil Order of (2016) Yue 03 MC No.2490 and (2016) Yue 03 MC No. 2492, that is, the
property under the name of eight defendants are being seal up, detain or freeze-up, totally amounted as 217
million Yuan. Ended as the reporting period, the 4.71 million shares of Miracle and 11,739,102 shares of SDEC
held by the Company are being freeze-up. First trial are carried on 24 September 2017, and further session to be
advised from the Court.
2. The company has applied to Futian People's Court of Shenzhen for compulsory liquidation with Hejun
Company. A Civil Ruling Paper is carried by Futian People's Court of Shenzhen (2017) Yue 0304 QS No.5, that is:
implemented compulsory liquidation on Hejun Company. The Company will fully engage with the Court for
relevant liquidation works completed, guarantee legitimate interest of the Company.




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                                                                                 无锡威孚高科技集团股份有限公司 2021 年第一季度报告正文


                Overview                   Disclosure date                                  Query index for interim notice
      Parts of the joint-stock
                                        March 8, 2017            (Notice No. 2017-002) Published on Juchao Website (www.cninfo.com.cn)
      enterprise’s equity held by
      the Company freeze                December 6, 2017         (Notice No. 2017-023) Published on Juchao Website (www.cninfo.com.cn)

     Implementation progress of shares buy-back
     □ Applicable √ Not applicable
     Implementation progress of the reduction of repurchases shares by centralized bidding
     □ Applicable √ Not applicable


     III. Commitments non-performance over due in reporting period from committed parties as
     actual controller, shareholders, related party, acquirer and the Company

     □Applicable          √Not applicable
     No the above mentioned commitment occurred in the period.


     IV. Securities Investment

     √ Applicable □ Not applicable
                                                                                                                                                 In RMB

                                                                                                                    Prof
                                                                                                                     it
                                                                                                                    and
                  Shor                                                                                 Curr
                                           Accou                                           Cumulat            Curr loss
Variet Cod            t                                                                                ent
                              Initial       nting Book value at the        Current         ive fair           ent    in                                  Capita
    y of   e of form                                                                                   purc                Book value at the Accountin
                            investment     measu beginning of the      gain/loss of fair    value             sales the                                      l
securit secu       of                                                                                  hase                end of the period g subject
                               cost        rement       period         value changes       changes            amo Rep                                    Source
    ies    rities secu                                                                                 amo
                                           model                                           in equity          unt orti
                  rities                                                                               unt
                                                                                                                    ng
                                                                                                                    Peri
                                                                                                                    od

Domes
                                           Measu
tic and                                                                                                                                      Trading
           6008 SDE 199,208,000.0 red by                                                                                                                 Own
foreig                                              140,395,956.00       -7,922,436.00                                      132,473,520.00 financial
           41     C                      0 fair                                                                                                          funds
n                                                                                                                                             assets
                                           value
stocks

Domes             Mira
                                           Measu
tic and           cle                                                                                                                        Trading
           0020                            red by                                                                                                        Own
foreig            Auto 69,331,500.00                 47,712,300.00       -3,579,600.00                                        44,132,700.00 financial
           09                              fair                                                                                                          funds
n                 mati                                                                                                                        assets
                                           value
stocks            on

Domes 6014 Guol                            Measu                                                                                             Trading     Own
                           12,000,000.00            326,848,122.00 -83,432,824.22                                           243,415,297.78
tic and 56        ian                      red by                                                                                            financial   funds


                                                                                                                                                         8
                                                                         无锡威孚高科技集团股份有限公司 2021 年第一季度报告正文


foreig        Secu                        fair                                                                                assets
n             rities                      value
stocks

                        280,539,500.0
Total                                        --   514,956,378.00 -94,934,860.22      0.00 0.00 0.00 0.00    420,021,517.78      --             --
                                      0

Disclosure date of
                       March 24, 2012
securities
investment
approval by the
                       June 4, 2013
Board


    2. Derivative investment

    □ Applicable      √ Not applicable
    No derivative investment in the Period.


    V. Progress of investment projects with raised funds

    □ Applicable      √ Not applicable


    VI. Prediction of business performance from January – June 2021

    Estimation on accumulative net profit from the beginning of the year to the end of next report period to be loss probably or the
    warning of its material change compared with the corresponding period of the last year and explanation on reason
    □ Applicable      √ Not applicable


    VII. Major contracts for daily operations

    □ Applicable      √ Not applicable


    VIII. Trust financing

    √ Applicable       □ Not applicable
                                                                                                                     In 10 thousand Yuan

                           Specific type                      Sources of funds    Amount occurred    Undue balance      Overdue amount

    Financing products                                      Own funds                      65,300              65,300                  0

    Financial products of securities firms                  Own funds                      82,000              82,000                  0

    Trust financial products                                Own funds                     289,280             284,580                  0

    Other type                                              Own funds                      67,770              67,770                  0

    Total                                                                                 504,350             499,650                  0

    Details of the single major amount, or high-risk trust investment with low security, poor fluidity and non-guaranteed



                                                                                                                                           9
                                                                                  无锡威孚高科技集团股份有限公司 2021 年第一季度报告正文


√ Applicable        □ Not applicable
                                                                                                                                           In 10 thousand Yuan

                                                                                                                                            Amo
                                                                                                                                             unt
                                                                                                                                             of
                                                                                                                                                            Whe
                                                                                                                                            reser Whe               Summ
                                                                                                                                                            ther
                                                                                                                                             ve     ther             ary of
                                                                                                                                                            has
                                                                                                                                             for appr                    the
                                                                  Capita                             Anticipat                                              entru
Truste                                   Sou                                               Referen                              Actual deva oved                     items
                                                                        l                               ed          Actual                                   st
      e                                  rce                                    Criteria     ce                               collected luati by                         and
           Trustee              Amou           Start      End     invest                             income gains/los                                       finan
institut                 Type            of                                 for fixing annual                                 gains/los on legal                    related
            type                 nt            date       date     ment                                 (if         ses in                                   ce
 ion r                                   fun                                    reward     rate of                                ses in     of     proc             query
                                                                  purpos                             applicabl period                                       plan
 name                                    ds                                                return                                 period with edur                   index
                                                                        e                               e)                                                   in
                                                                                                                                            draw        e                (if
                                                                                                                                                            the
                                                                                                                                             ing    (Y/              applic
                                                                                                                                                            futur
                                                                                                                                             (if    N)               able)
                                                                                                                                                                e
                                                                                                                                            appli
                                                                                                                                            cabl
                                                                                                                                             e)

                                                                            Contractu
                     Non-gu
                                                                            al                                                Collecte
                     arantee             Ow                       Financ
                                                        May                 Performa                                          d
                     d                   ned March 2,             ial
Bank       Bank                  1,300                  26,                 nce             3.55%       10.75                0 accordin             Y       Y
                     floatin             fun 2021                 produc
                                                        2021                Benchmar                                          g to the
                     g                   d                        ts
                                                                            k                                                 contract
                     income


                     Non-gu                                       Collec Contractu
                                                                                                                              Collecte
                     arantee             Ow                       tive      al
Securit Securit                                         Septem                                                                d
                     d                   ned January              assets Performa
ies        ies                  18,000                  ber 14,                                        544.96       265.16 accordin                 Y       Y
                     floatin             fun 12, 2021             manag nce                                                                                         Notice
trader trader                                           2021                                                                  g to the
                     g                   d                        ement Benchmar 4.7%                                                                               No.:
                                                                                                                              contract
                     income                                       plan      k               -5%                                                                     2020-0

                     Non-gu                                                 Contractu                                                                               15
                                                                                                                              Collecte
                     arantee             Ow                       Collec al
                                                        January                                                               d
                     d                   ned January              tion      Performa
Trust      Trust                33,880                  29,                                          3,190.71 2,922.76 accordin                     Y       Y
                     floatin             fun 8, 2021              trust     nce
                                                        2023                                                                  g to the
                     g                   d                        plan      Benchmar 5.8%
                                                                                                                              contract
                     income                                                 k              -7.4%

                     Non-gu                                                 Contractu
                                         Ow                                                                                   Collecte
                     arantee                            Februar Fund        al
                                         ned February                                                                         d
 Other Other              d     10,000                  y 8,      produc Performa                             660   439.57                          Y       Y
                                         fun 8, 2021                                                                          accordin
                     floatin                            2023      ts        nce             6%
                                         d                                                                                    g to the
                          g                                                 Benchmar -7.5%

                                                                                                                                                                    10
                                                                        无锡威孚高科技集团股份有限公司 2021 年第一季度报告正文


                  income                                            k                                           contract

Total                       63,180 --         --       --      --        --         --    4,406.42 3,627.49        --         0 --      --        --

Entrust financial expected to be unable to recover the principal or impairment might be occurred
□ Applicable     √ Not applicable


IX. External security against the rules

□ Applicable    √ Not applicable
The Company has no external security against the rules in the Period


X. Controlling shareholders' and its related party's non-business capital occupying of the
listed company

□ Applicable    √ Not applicable
There are no controlling shareholders' and its related party's non-business capital occupying of the listed company.


XI. Registration form for receiving research, communication and interview in the report
period

√ Applicable □ Not applicable

                   Reception                       Type of                Main content and
    Date                              Method                   Object                                Index for the interview and research
                    location                       investors            information provided

                  Interactive
                                                                                                 The Company answered 55 questions for
1 Jan. 2021        platform                                             Basic condition of the
                                      Written                                                    investors   online     through   the   investor
to 31 Mar.      (http://irm.p5w                    Other      Other Company and views
                                      inquiries                                                  relations interactive platform
2021            .net/dqhd/sichua                                        on market
                                                                                                 (http://irm.p5w.net/dqhd/sichuan/)
                     n/)

1 Jan. 2021                          Telephone                          Basic condition of the
                                                                                                 Communicate with investors by telephone
to 31 Mar.         Telephone         communicat     Other      Other Company and views
                                                                                                 more than 50
2021                                    ion                             on market




                                                                                             Board of Director of
                                                                                Weifu High-Technology Group Co., Ltd.

                                                                                           27 April 2021




                                                                                                                                             11