Stock code：300450 Stock abbreviation：LEAD Statement number：2024-034
Wuxi Lead Intelligent Equipment Co., Ltd.
2023 Annual Report Summary
LEAD-2023 Annual Report Summary
SECTION I IMPORTANT NOTICE
This summary of the annual report is from the full text of the annual report. To fully understand the business performance,
financial condition and future development planning of the Company, investors should read the full text of the annual
report for details.
All members of the board of directors attended the Board meeting to review this report.
BAKER TILLY International Accounting Firm (Special General Partnership) has issued an auditor’s report with an
unqualified opinion to the Company.
Changes in accounting firms during this reporting period: The company's accounting firm for this year is still BAKER
TILLY International Accounting Firm (Special General Partnership)
Non-standard audit opinion reminder
□Applicable Not applicable
The company was not profitable at the time of its listing and is currently not generating profits
□Applicable Not applicable
Profit distribution plan or plan for converting reserve funds into share capital for the reporting period reviewed by the
board of directors
Applicable □Not applicable
The profit distribution plan approved by the board of directors this time is as follows: based on total share capital of 1,554,889,537,
a cash dividend of 3.43 yuan (including tax) will be distributed to all shareholders for every 10 shares, 0 bonus shares (including
tax) will be given, and 0 additional shares will be issued to all shareholders for every 10 shares using capital reserves.
The profit distribution plan for preferred shares approved by the board of directors during this reporting period
Applicable □Not applicable
The report is compiled in both Chinese and English. In case of any ambiguity in the understanding of the Chinese and Engl
ish versions, the Chinese version shall prevail.
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LEAD-2023 Annual Report Summary
SECTION II COMPANY PROFILE
1 Company Profile
Stock abbreviation LEAD Stock code 300450
Stock exchange Shenzhen Stock Exchange
Contact person and means of contact Secretary to the Board Securities affairs representative
Name Yao Yao Zhu Qi
No.18, Xinzhou Road, Xinwu District, Wuxi, No.18, Xinzhou Road, Xinwu District, Wuxi,
Office address
Jiangsu Province Jiangsu Province
Fax 0510-81163648 0510-81163648
Telephone 0510-81163600 0510-81163600
Mailbox yao.yao@leadintelligent.com qi.zhu@leadintelligent.com
2 Main Businesses/Products of the Company during the Reporting Period
（1）Basic industry condition
The Company specializes in R&D, manufacturing and sales of high-end non-standard intelligent equipment and is a world-
leading new energy equipment service provider. Its businesses cover lithium-ion battery intelligent equipment, photovoltaic
intelligent equipment, 3C intelligent equipment, intelligent logistics, automobile intelligent production line, hydrogen energy
equipment and laser precision processing equipment, etc. The Company belongs to Intelligent Manufacturing industry, including:
lithium-ion battery intelligent equipment manufacturing, photovoltaic intelligent equipment manufacturing, 3C equipment
manufacturing, automobile production line manufacturing, hydrogen energy equipment manufacturing and laser precision
processing equipment manufacturing industry. According to the "Guidelines for Industry Classification of Listed Companies"
issued by the China Securities Regulatory Commission (CSRC) in October 2012, the company falls under the category of "C35
Special Equipment Manufacturing Industry."
（2）Development status-quo and future development trend of different businesses of the Company
1. Lithium-ion battery equipment
The lithium-ion battery includes EV, energy storage and digital types, and lithium-ion battery equipment industry provides
special equipment to downstream lithium-ion battery manufacturers.
EV battery. In the long-term view, as a response to global climate change, different countries actively pursue and promote
green and sustainable development: the automotive industry is heading toward electrification, and new energy automotive industry
is prospering at a fast speed. According to statistics from sources such as research institute EV Tank and the China Association of
Automotive Industry, the total global sales of the new energy vehicles reached 14.653 million, a year-on-year increase by 35.4%.
EV sales in China reached 9.495 million, accounting for 64.8% of the global sales, with a year-on-year increase of 35.4% and
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LEAD-2023 Annual Report Summary
penetration rate of 31.6% (increasing by 5.9 percent compared with 2022). EV sales of US and Europe reached 2.948 million and
1.468 million, with respective increase rate of 18.3% and 48.0%. The fast growth of EV sales brings with it the stark increase of
EV battery shipment. The White Paper on the Development of China's New Energy Vehicle Power Battery Industry (2024) shows
that global EV battery shipments reached 865.2GWh in 2023, a year-on-year increase of 26.5%. EV Tank predicts that global
power battery shipments will reach 3368.8GWh by 2030, with nearly three times the growth potential compared to 2023.
In the short term, compared to the structural overcapacity problem caused by the significant expansion of domestic EV
battery factories, overseas expansion is more rational, and the expansion of overseas EV battery factories will be further
accelerated in the future. The EU is determined to reduce emissions and establish strict carbon emission standards. Major
European countries release new energy policies one after anther and they continue to promote the electrification process. In this
context, European battery manufacturers like ACC and Northvolt are increasing. Secondly, the IRA bill drives the localization of
the US electric vehicle industry chain, accelerating the construction of Japanese and Korean battery factories such as LG and SK
in the US. Moreover, vehicle manufacturers such as Volkswagen and Ford are gradually expanding their production in the
upstream battery sector, or establishing their own battery factories or joint venture factories. In general, there’s still large growth
space for Chinese equipment manufacturers with global competitiveness.
Energy storage batteries. In the context of carbon neutrality, promoting the energy revolution and building a new type of
power system dominated by new energy has become a global consensus. New energy storage (mainly including electrochemical
energy storage, compressed air energy storage, flywheel energy storage, etc.), as an important means to enhance the stability of the
power grid, is the core of achieving dynamic balance between power supply and demand. Among them, electrochemical energy
storage has the advantages of flexibility and high energy ratio, and is increasingly becoming an important way of new energy
storage, which will drive the rapid development of the energy storage battery industry. In 2023, driven by the growth of wind and
photovoltaic installed capacity and the decline in lithium carbonate prices, the demand for energy storage will continue to increase.
According to GGII statistics, the global shipment of energy storage batteries reached 225GWh in 2023, a year-on-year increase of
50%. Among them, the shipment volume of energy storage batteries in China reached 206GWh, a year-on-year increase of 58%,
accounting for 91.6% of the global shipment volume in total.
Digital battery. With the continuous expansion of the scale of consumer electronics products, the enrichment of application
environments, and the increasing penetration among average consumers, the overall market of China's consumer lithium-ion
battery industry is developing well. Generally speaking, in traditional consumer sectors such as laptops and smartphones, the
market size of lithium-ion batteries is relatively stable. The emerging electronic fields such as wearable devices, drones, Bluetooth
speakers, AR/VR devices, AIPC, MR, etc. are showing a rapid development trend. In addition, with the rise of the AI wave, major
manufacturers are actively exploring and are expected to lead a new round of product innovation cycle in consumer electronics,
thereby stimulating further growth in terminal demand and bringing more opportunities to the lithium-ion battery market.
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LEAD-2023 Annual Report Summary
According to Mordor Intelligence, the global consumer lithium-ion battery market is expected to reach $27.33 billion in 2025,
with a compound growth rate of 20.27% from 2020 to 2025.
2. Photovoltaic equipment industry
The photovoltaic equipment industry provides special equipment for the production of photovoltaic cells and modules.
Against the backdrop of the "dual carbon"(carbon neutrality and carbon peaking) goal, the world is currently in an important
stage of energy structure transformation, and countries have significantly increased their emphasis on renewable energy.
According to the net-zero emissions roadmap of the International Energy Agency (IEA), it is expected that the level of
electrification will gradually increase with the transition to green energy, and it is expected that electricity will account for more
than 50% of energy consumption by 2050. Among them, the proportion of solar wind power generation needs to reach about 70%,
and the proportion of solar energy is expected to exceed 40%. In December 2023, the President of the European Union jointly
launched the "Global Renewable Energy and Energy Efficiency Commitment" initiative with 118 countries at the COP28 World
Climate Action Summit, proposing to double the global installed capacity of renewable energy generation to at least 11000GWh
by 2030. With the rapid decline in photovoltaic costs and the development of supporting facilities, the photovoltaic industry is still
in a high growth stage, with strong market potential in the long term. According to official data from the International Renewable
Energy Agency (IRENA), the global installed capacity of new photovoltaic systems in 2023 was 345.5GW, a year-on-year
increase of 32.2%. According to data from the National Energy Administration, the installed capacity of domestic photovoltaic
power generation in 2023 was 216.88 GWh, a year-on-year increase of 148.12%. Overall, with the promotion of the global "dual
carbon" process, the photovoltaic industry has broad development space in the future. The continuous growth of terminal installed
capacity in the photovoltaic industry has driven the continuous expansion of production in the upstream and downstream of the
industry chain. At the same time, the continuous progress of photovoltaic technology in all aspects also drives the replacement of
existing production capacity. The demand for expansion and substitution constitute the market demand for photovoltaic equipment.
Driven by technological progress and continuous growth in downstream market demand, the demand for high-performance
equipment, represented by core links such as silicon wafer equipment, battery equipment, and component equipment, continues to
increase.
3. 3C equipment industry
3C equipment industry provides special equipment for the manufacturing and inspection of 3C products.
In 2023, the 3C market has fully recovered, and the demand for 3D metrology, 3D assembly, and testing equipment has been
fully initiated and invested. At the same time, the 3D appearance and 3D content of consumer electronic products have spurred the
explosive growth of new MR products. The increment of sensors and other components, as well as the gradual replacement of
traditional processes by precision dispensing technology, have given rise to the demand for multi-axis 3D precision fluid
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LEAD-2023 Annual Report Summary
equipment due to the evolution of product irregular structures. The transfer of most of the production capacity from top customers
in the consumer electronics sector to Southeast Asia has led to a significant increase in investment in non-standard equipment.
4. Automotive production line automation equipment industry
Automotive production line automation equipment industry provides special equipment to cell module assembly line, PACK
line and electric drive production line.
The automotive industry has a relatively high level of automation, and improves assembly quality and shortens production
cycles by adopting modular production. In the past few years, as the new energy vehicle industry was still at growing stage, the
automation level in the production and manufacturing of battery modules, PACK, and electric drive was relatively low. Since 2020,
the new energy vehicle industry at home and abroad has accelerated. Global leading car makers such as Volkswagen, BMW, and
Daimler have accelerated their transformation towards electrification, and the industry scale has rapidly expanded, which has put
forward higher requirements for the automation level of the entire production line. The automotive industry is building a new
modular production platform based on key links such as new energy powertrain (battery, electric drive), and the areas of battery
module production lines, PACK production lines, electric drive production lines, and equipment upgrading of existing production
line have called for more intelligent and higher automation production.
5. Hydrogen energy equipment industry
The hydrogen energy equipment industry provides special equipment to fuel cells and PEM electrolyzer.
Hydrogen energy is an important component of the energy system and will be widely applied in fields such as transportation,
industry, chemical industry, steel, and construction. It will deeply promote carbon neutrality or low-carbon transformation in
industries, build a clean, safe, and efficient new generation energy system, and help achieve the national strategy of carbon peak
and carbon neutrality. In recent years, countries including Japan, ROK, the United States, Europe, and the Middle East have all
released hydrogen energy strategic development plans. For example, ROK expects hydrogen energy to become its largest energy
source by 2050, accounting for 33% of its energy consumption; Germany expects hydrogen imports to account for 50% -70% of
the total hydrogen supply by 2030. China is also actively developing hydrogen energy. In 2022, the National Development and
Reform Commission and the National Energy Administration jointly issued the "Medium and Long Term Plan for the
Development of Hydrogen Energy Industry (2021-2035)", which formulated a long-term development strategy for hydrogen
energy. In 2023, local governments have implemented multiple policies to promote the hydrogen energy industry at the national
level. For example, in June 2023, Hebei Province issued the "Hebei Province Hydrogen Industry Safety Management Measures",
which stipulated the safety management of the production, transportation, filling, and use of hydrogen products within the
province. In September 2023, Shandong Province implemented the Notice on Carrying out Pilot Demonstration Construction of
Energy Green and Low Carbon Transformation, encouraging the development of wind power, photovoltaic power generation, and
nuclear hydrogen production. In addition to policy support, progress in material technology and production processes, as well as
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LEAD-2023 Annual Report Summary
the localization of key components, continue to drive down the cost of fuel cell systems. According to Frost&Sullivan's statistics,
the price of hydrogen fuel cell systems has decreased from 12300 yuan/kW in 2018 to 4800 yuan/kW in 2022, a compound annual
decrease of 21.0%. With policy support and industry joint efforts, the hydrogen energy industry has shown a positive development
trend, with the initial establishment of the industrial chain system, positive progress in technology research and development, and
accelerated marketization. With the expansion of industry scale, the demand for high-end hydrogen production and testing
equipment is expected to gradually release.
（3）Company status in the industry
The Company continues to focus on the development of new energy and high-end equipment. In the field of intelligent
equipment manufacturing such as lithium-ion batteries, energy storage batteries, hydrogen batteries, and photovoltaic cells for new
energy vehicles, the Company continues to focus on research and innovation to solve the bottleneck equipment problems in the
industry, actively promoting efficiency improvement, cost reduction, and high-quality rapid development of the industry.
Nowadays, the Company has become the only enterprise in the world that can provide whole line solutions for new energy
intelligent equipment, with a market share ranking first in the world for many consecutive years.
In the field of lithium-ion intelligent equipment, the Company is the world's largest high-end lithium-ion battery equipment
and turn-key solution provider, mastering core technologies such as EV, energy storage, digital lithium-ion battery cells, whole
line equipment from mixing, coating, calendering, notching, winding/stacking, assembly and formation, as well as complete sets of
intelligent manufacturing turn-key solutions. The technology and performance of lithium-ion intelligent equipment have reached
the world's advanced level. The Company has maintained good cooperative relationships with several world-class automotive and
lithium-ion battery companies around the world, including Tesla, Volkswagen, BMW, Mercedes Benz, CATL, BYD, SDI, LG, SK
on, Panasonic, ATL, NORTHVOLT, ACC, EVE, CALB, GOTION, and SVOLT, and has accumulated rich experience in the
lithium-ion battery equipment industry. The Company's performance in the front, middle, and rear stages of lithium-ion battery
equipment has reached the world-leading level, and its advantageous product categories have been further enriched and its market
share has been further expanded. According to Frost&Sullivan's statistics, based on the 2022 order value, the Company is the
largest provider of lithium-ion battery intelligent equipment in China and the world, with a market share of 24.1% in China and a
global market share of 17.5%. In addition to standalone equipment, the Company also provides comprehensive intelligent
manufacturing solutions to multiple customers at home and abroad, serving the entire life cycle of lithium-ion battery production,
and has expanded overseas markets and vehicle enterprise customers, injecting new momentum into the company's sustained
development.
In the field of photovoltaic intelligent equipment, the Company is committed to the research and development, mass
production of new processes and equipment for PV module and PV cell, and has mastered the core technology of PV module and
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LEAD-2023 Annual Report Summary
PV cell equipment. The Company can provide customers with intelligent equipment such as integrated cell cutting stringers, 0BB
stringers, XBC stringers, as well as whole line PV cell production equipment including wet process main equipment, screen
printing/sintering machine, inspection and sorting machine, and supporting automation, which all enjoy good reputation in the
industry. At present, we have established close cooperation with many leading enterprises in the photovoltaic industry, and in 2023,
we have received a large number of GW level orders in component equipment and PV cell assembly lines. The company continues
to focus on the photovoltaic field and lead in technological innovation. In terms of module equipment, the 0BB stringers released
by the company is the industry's first high-efficiency 0BB stringer for mass production. The independently developed XBC
components and PV cell equipment have exceeded industry limits in 2023 and have been highly trusted and praised by customers.
In terms of PV cell technology, the Company has developed the industry's first GW level TOPCon digital solution, leading the
industry with a high conversion efficiency of over 26.5% for the whole line. At the same time, the Company is deeply involved in
PV cell turnkey solutions of TOPCon/XBC/HJT/perovskite, and reserving technology for the next generation development. In
addition, the Company continues to deepen its cross-field business layout in new energy, promoting and achieving platform-based
and integrated industrial layout from PV to PV and energy storage, as well as PV, energy storage and hydrogen, and contributing
to global energy transformation.
In the field of 3C intelligent equipment, the Company's subsidiary LeadTech is the select service provider for global
intelligent manufacturing solutions. Its products cover visual metrology, AI defect detection, five-axis high-speed dispensing, high
flow sealing, imaging testing, electrical testing, reliability testing, and 3D assembly, focusing on the three major intelligent fields
of global intelligent vehicles, consumer electronics, and digital energy. LeadTech always uses intelligent and digital production to
respond to industrial change and the personalized needs of global customers. By integrating self-developed 3D+AI visual
algorithms, five-axis precision fluid technology, and integrated testing technology, we empower industry innovation and
breakthroughs, continuously providing customers with highly competitive products and services, and becoming strategic partners
for multiple TOP customers in the industry. LeadTech has reached a world leading level in 3D+AI vision technology and
established long-term strategic partnerships with leading domestic and foreign industry enterprises.
In the field of automation equipment in automotive production line, the Company has established an experienced R&D team,
relying on the company's strong independent R&D and manufacturing process control capabilities. The automotive production line
business has covered various fields such as full-category module intelligent production lines, PACK intelligent production lines,
electric drive intelligent production lines, EV battery charging and discharging testing solutions, containerized energy storage
solutions, and has established strategic cooperation with well-known domestic and foreign customers such as BMW, Mercedes
Benz, Audi, Volkswagen, GM, Toyota, FAW, BAIC, Xiaopeng, CATL, Gotion, Sungrow Power, Hyperstrong, Baofeng Group,
XCMG Group, and GCL Group. We have delivered to our customers numerous production lines with high automation rates (with
module automation rates exceeding 95%, PACK automation rates exceeding 50%, and an average automation rate of over 85% for
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LEAD-2023 Annual Report Summary
the entire electric drive solution from stator and rotor assembly to the production line of electric drive products), high safety,
reliability, and stability. With the continuous expansion of various production lines, the Company has further improved its digital
flexible service level on the basis of reliable equipment operation. In the future, the Company will actively participate in
comprehensive electrification and global cooperation under the vision of carbon neutrality, and will continue to assist the world in
achieving low-carbon transformation goals with efficient intelligent production lines and practical service strategies.
In the field of hydrogen intelligent equipment, the Company has officially entered the field of fuel cell intelligent equipment
since 2018, established a hydrogen equipment business unit, and formed a strong R&D team. In 2021, the subsidiary Lead
Hydrogen was officially established, committed to becoming the world's most influential hydrogen equipment enterprise,
continuously leading the technological upgrading of hydrogen equipment, promoting the global industrialization process of
hydrogen fuel cells, and leading the "carbon neutrality" development of the new energy industry with intelligent manufacturing.
Lead Hydrogen provides customers with PEM electrolyzer production line equipment, hydrogen fuel cell production line
equipment, and test bench solutions, including batching systems, mixing and coating, MEA packaging, bipolar plate production,
stack assembly, system assembly, testing platforms, and other related high-end equipment. At present, the Company has reached
international leading level in terms of technical level, team size, and business volume in the field of high-end hydrogen energy
equipment, and multiple key technologies have won national and provincial scientific research project awards. Lead Hydrogen
always adheres to innovation as its driving force. In 2023, Lead Hydrogen has developed important hydrogen production
equipment such as single cell preparation equipment, electrolytic water PEM making equipment, ALK separator making
equipment, and electrolytic water MEA making equipment. Among them, the MEA making equipment has taken the lead in
solving the uniformity of large-area catalyst decal and the bubble in packaging during the hydrogen production process,
representing its continuous support to industry development. In terms of fuel cells, Lead Hydrogen has formed long-term strategic
cooperation relationships with leading domestic and foreign enterprises. In terms of PEM electrolyzer, the company has
established cooperation with multiple well-known enterprises. It obtained the largest single order amount overseas project in the
hydrogen energy field that Chinese enterprises have received so far from a Fortune 500 customer in 2023. After four months, we
successfully delivered it to the customer. The company will continue to increase investment in technology research and
development in the field of high-end hydrogen equipment, maintain a leading advantage, further expand the hydrogen production
and testing equipment market, and support the national dual-carbon strategy.
（4）Main competitors in the industry
1. Shenzhen Yinghe Technology Co.,Ltd.
Established in 2006, it mainly provides customers with lithium-ion battery automation equipment and services, and electronic
cigarette business.
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LEAD-2023 Annual Report Summary
2. Zhejiang Hangke Technology Incorporated Company
Established in 2011, Hangke Tech is committed to the design, R&D, production and sales of downstream process system of
all types of chargeable batteries, with lithium-ion batteries in particular. It has core technologies and capabilities in the R&D and
production of downstream equipment like charging/discharging equipment and IR testes, and is able to provide downstream
process turn-key solution for lithium-ion batteries.
3. Guangdong Lyric Robot Automation Co., Ltd.
It was established in 2014 and mainly engages in R&D, production and sales of intelligent manufacturing equipment,
providing high-end equipment and digital smart factory solutions in lithium-ion battery, automotive parts, ICT, etc. for renowned
enterprises at home and abroad.
4. Shenzhen S.C New Energy Technology Corporation
Established in 2007, is a national high-tech equipment manufacturer with capabilities in R&D, manufacturing & sales of
photovoltaic cell manufacturing equipment.
5、Suzhou EMIS Technology Co.,Ltd.
Established in 2010, it is a high-end equipment manufacturer integrating mechanical design, electrical manufacturing,softwar
e algorithm development, and precision manufacturing and assembly. The main business focuses on design, R&D, manufacturin
g and sales of intelligent manufacturing equipment.
3. Major accounting data and financial indicators
（1） Major accounting data and financial indicators in the past three years
Does the Company need to retrospectively adjust or restate accounting data of previous years?
Yes □No
The reason for retrospective adjustment or restatement: changes in accounting policies
Unit: yuan
Increase or
decrease over
At the end of 2022 At the end of 2021
At the end of 2023 that of the
previous year
Before adjustment After adjustment After adjustment Before adjustment After adjustment
Total assets 35,293,330,312.84 32,906,545,902.14 32,977,103,065.35 7.02% 24,000,151,927.26 24,001,443,013.35
Net assets
attributable to
stockholders of the 11,848,337,372.87 11,123,369,629.13 11,125,213,190.76 6.50% 9,468,866,047.00 9,470,157,133.09
Company
Increase or
decrease over
2022 2021
2023 that of the
previous year
Before adjustment After adjustment After adjustment Before adjustment After adjustment
Operating income 16,628,361,009.42 13,932,352,081.34 13,932,352,081.34 19.35% 10,036,591,737.08 10,036,591,737.08
Net profit
attributable to 1,774,565,501.49 2,317,580,885.59 2,318,133,360.87 -23.45% 1,584,673,046.04 1,585,964,132.39
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LEAD-2023 Annual Report Summary
stockholders of the
Company
Net profit
attributable to
stockholders of the
Company after 1,724,509,317.18 2,255,840,396.02 2,256,392,871.30 -23.57% 1,532,389,119.95 1,533,680,206.30
deducting non-
recurring profit or
loss
Net cash flow from
the operating -862,790,560.80 1,691,030,346.50 1,691,030,346.50 -151.02% 1,343,709,630.49 1,343,709,630.49
activities
Basic earnings per
share (RMB/share) 1.1311 1.4815 1.4819 -23.67% 1.2827 1.2838
Diluted earnings per
share (RMB/share) 1.1323 1.4810 1.4813 -23.56% 1.2816 1.2827
ROE 15.31% 22.55% 22.55% -7.24% 0.21% 21.04%
Reasons for changes in accounting policies and correction of accounting errors
On November 30, 2022, the Ministry of Finance issued Interpretation No. 16 of the Accounting Standards for Enterprises
(Finance-Accounting [2022] No. 31) (hereinafter referred to as "Interpretation No. 16"), which states that "the accounting
treatment for deferred income tax related to assets and liabilities arising from individual transactions is not applicable to initial
recognition exemption" shall be implemented from January 1, 2023.
（2） Major accounting data by quarters
Unit: yuan
Q1 Q2 Q3 Q4
Operating income 3,273,527,121.48 3,812,035,920.03 6,100,513,784.55 3,442,284,183.36
Net profit attributable to
stockholders of the 563,328,825.89 637,035,938.39 1,123,242,961.34 -549,042,224.13
Company
Net profit attributable to
stockholders of the
551,047,376.95 618,257,104.63 1,113,698,760.11 -558,493,924.51
Company after deducting
non-recurring profit or loss
Net cash flow from the
-1,708,294,949.71 165,369,692.70 77,936,408.17 602,198,288.10
operating activities
Is there a significant difference between the above financial indicators or their total amount and the financial indicators related to
the disclosed quarterly and semi annual reports of the Company?
□Yes No
4. Share capital and information on shareholders
（1）Total number of holders of ordinary shares, total number of holders of preferred shares with restored voting rights,
and shareholdings of the top 10 shareholders
Unit：share
Total number of
Total number of Total number of
Total number of holders of preferred Total number
holders of ordinary holders of preferred
holders of shares with restored of holders with
shares one month shares with restored
ordinary shares 98,644 114,319 0 voting rights one 0 shares of 0
prior to the annual voting rights at the
at the end of month prior to the special voting
report disclosure end of the reporting
reporting period annual report rights (if any)
date period
disclosure date
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LEAD-2023 Annual Report Summary
Shareholdings of the top 10 shareholders (excluding shares lent through stock pledged repo transactions)
Number of Pledged, marked, or frozen
Nature of Shareholder Number of shares
Name of shareholders restricted shares
shareholders proportion held Share status Number
held
Lhasa Xindao Venture Capital Domestic non-state-
Co., Ltd 21.46% 336,039,506.00 0.00 Not applicable 0.00
owned legal person
Hong Kong Securities
Clearing Company Ltd. Overseas legal person 13.25% 207,514,476.00 0.00 Not applicable 0.00
(HKSCC)
Contemporary Amperex Domestic non-state-
Technology Co., Ltd. 7.14% 111,856,823.00 111,856,823.00 Not applicable 0.00
owned legal person
Shanghai ZhuoAo Enterprise Domestic non-state-
Management (Limited 5.88% 92,041,983.00 0.00 Not applicable 0.00
Partnership) owned legal person
Wuxi Yuxi Venture Capital Domestic non-state-
(Limited Partnership) 4.43% 69,414,157.00 0.00 Not applicable 0.00
owned legal person
Industrial and Commercial
Bank of China (ICBC) -- E
Fund Growth Enterprise Board Others 0.94% 14,672,816.00 0.00 Not applicable 0.00
Trading Open Index Securities
Investment Fund
China Construction Bank--
HuaAn ChiNext 50 Trading
Open Index Securities Others 0.55% 8,638,804.00 0.00 Not applicable 0.00
Investment Fund
ICBC－Huatai-Pinebridge CSI
300 Exchange Traded Open-
Others 0.52% 8,172,150.00 0.00 Not applicable 0.00
End Index Securities
Investment Fund
ICBC－Huitianfu China
Securities New Energy
Vehicle Industry Index Others 0.48% 7,508,016.00 0.00 Not applicable 0.00
Sponsored Securities
Investment Fund (LOF)
Bank of China－Huaxia China
Securities New Energy
Others 0.46% 7,275,819.00 0.00 Not applicable 0.00
Vehicle Trading Open Index
Securities Investment Fund
Lhasa Xindao Venture Capital Co., Ltd, Shanghai ZhuoAo Enterprise Management (Limited
Explanation of associations or actions in concert among Partnership) and Wuxi Yuxi Venture Capital (Limited Partnership) (whose name is now
the above shareholders changed to: Wuxi Yuxi Technology Company) are controlled by Wang Yanqing, the actual
controller of the Company.
The situation of the top ten shareholders participating in stock pledged repo transactions by lending their shares
Applicable □Not applicable
Unit：share
Top ten shareholders participating in stock pledged repo transactions by lending their shares
Ordinary account and
Initial ordinary Lending shares and
Initial lending shares credit account
account and credit yet not repaid at the
and yet not repaid shareholding at the end
Full name of shareholders account shareholding end of the period
of the period
Number of Percent Number of Percent Number of Percent Number Percent
shares age shares age shares age of shares age
ICBC -- E Fund Growth Enterprise Board Trading
4,920,268 0.31% 1,731,400 0.11% 14,672,816 0.94% 74,700 0.01%
Open Index Securities Investment Fund
China Construction Bank--HuaAn ChiNext 50
3,973,907 0.25% 706,100 0.05% 8,638,804 0.55% 293,200 0.02%
Trading Open Index Securities Investment Fund
ICBC－Huatai-Pinebridge CSI 300 Exchange
Traded Open-End Index Securities Investment 3,705,250 0.24% 776,000 0.05% 8,172,150 0.52% 19,500 0.00%
Fund
ICBC－Huitianfu China Securities New Energy
Vehicle Industry Index Sponsored Securities 7,120,916 0.45% 829,600 0.05% 7,508,016 0.48% 339,900 0.02%
Investment Fund (LOF)
Bank of China－Huaxia China Securities New
4,598,419 0.29% 1,319,400 0.08% 7,275,819 0.46% 94,400 0.01%
Energy Vehicle Trading Open Index Securities
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LEAD-2023 Annual Report Summary
Investment Fund
There is change in top 10 shareholders compared to the last reporting period
Applicable □Not applicable
Unit: share
Change of top 10 shareholders compared to the last reporting period
The number of shares held in the
Number of shares
ordinary account and credit
lent through re-
account of shareholders at the end
financing and yet
Entry/Exit of this of the period, as well as the shares
Full name of shareholders not repaid at the
reporting period lent through refinancing, that have
end of the period
not yet been returned
Percent Number of Percent
Number of shares
age shares age
ICBC－E Fund Active Growth Securities Investment Fund Exit 0 0.00% 0 0.00%
China Merchants Bank－Ruiyuan Growth Value Hybrid Securities
Exit 0 0.00% 0 0.00%
Investment Fund
National Social Security Fund 110 Portfolio Exit 0 0.00% 5,459,337 0.35%
BARCLAYS BANK PLC Exit 0 0.00% 2,234,699 0.14%
China Construction Bank －E Fund National Defense and Military
Exit 0 0.00% 0 0.00%
Industry Hybrid Securities Investment Fund
ICBC－E Fund ChiNext Trading Open Index Securities Investment Fund Entry 74,700 0.01% 14,747,516 0.94%
China Construction Bank--HuaAn ChiNext 50 Trading Open Index
Entry 293,200 0.02% 8,932,004 0.57%
Securities Investment Fund
ICBC－Huatai-Pinebridge CSI 300 Exchange Traded Open-End Index
Entry 19,500 0.00% 8,191,650 0.52%
Securities Investment Fund
ICBC－Huitianfu China Securities New Energy Vehicle Industry Index
Entry 339,900 0.02% 7,847,916 0.50%
Sponsored Securities Investment Fund (LOF)
Bank of China－Huaxia China Securities New Energy Vehicle Trading
Entry 94,400 0.01% 7,370,219 0.47%
Open Index Securities Investment Fund
Does the company have arrangements for differences in voting rights?
□Applicable Not applicable
（2） Total number of holders of preference shares and top ten shareholders of the Company
There’s no shareholding by holders of preference shares at the reporting period.
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LEAD-2023 Annual Report Summary
（3） Diagram of the equity and controlling relationship between the Company and the defacto controller
5. Corporate bond
□Applicable Not applicable
SECTION III IMPORTANT EVENTS
1. On May 5, 2023, the Company held the 25th meeting of the 4th Board of Directors and approved the Proposal on
Appointing the Chief Financial Officer of the Company. It was decided to appoint Ms. Guo Caixia as the chief financial officer of
the Company, with a term starting from the date of approval by the current Board of Directors and ending on the end of this term.
Please refer to the relevant announcement disclosed by the Company on May 6, 2023 on CNINF network.
2. On June 12, 2023, the Company held the 26th meeting of the 4th Board of Directors and the 25th meeting of the 4th Board
of Supervisors to review and approve the "Proposal on Repurchase of Company Shares". It was agreed that the Company would
use its own funds to repurchase the issued RMB ordinary shares (A-shares) of the Company through centralized bidding trading,
for the purpose of implementing equity incentive plans and/or employee stock ownership plans. The price for repurchasing shares
shall not exceed RMB 53 per share, and the total amount of repurchased funds shall not be less than RMB 200 million and not
exceed RMB 300 million. The specific total amount of repurchase funds shall be based on the actual total amount of funds used
when the repurchase period expires or the repurchase implementation is completed. The implementation period for repurchasing
shares shall not exceed 12 months from the date of approval of the repurchase plan by the Company's board of directors. Please
refer to the relevant announcement disclosed by the company on June 13, 2023 on CNINF network.
3. The 2022 equity distribution plan of the Company was reviewed and approved by the 24th meeting of the 4th Board of
Directors held on April 25, 2023, and the 2022 Annual Shareholders' Meeting held on May 17, 2023. On June 27, 2023, the
Company completed the distribution of equity for the year 2022. Please refer to the relevant announcement disclosed by the
Company on June 17, 2023 on CNINF network.
4. On June 28, 2023, Mr. Wang Yanqing -- the actual controller, chairman, and general manager of the Company, based on
his confidence in the future development of the Company and his recognition of the long-term investment value, combined with
his reasonable and independent judgment of the Company's stock value -- increased his holdings of 2,910,180 shares of the
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LEAD-2023 Annual Report Summary
Company through a centralized bidding method via the Shenzhen Stock Exchange trading system with his own capital, accounting
for 0.19% of the total share capital of the Company. Please refer to the relevant announcement disclosed by the company on June
28, 2023 on CNINF network.
5. On September 28, 2023, the Company held the 31st meeting of the 4th Board of Directors and the 29th meeting of the 4th
Board of Supervisors, and reviewed and approved proposals such as the "2023 Restricted Stock Incentive Plan (Draft) and its
Abstract". On October 16, 2023, the second interim general meeting of shareholders also approved that 875000 shares were
granted to 52 incentive recipients at a grant price of RMB 13.97 yuan per share. Please refer to the relevant announcement
disclosed by the Company on October 20, 2023 on CNINF network.
6. Mr. Wang Yanqing, the actual controller, chairman, and general manager of the company, planned to increase his holdings
of the Company's shares within 6 months from October 30, 2023, with a proposed increase amount of no less than RMB 150
million and no more than RMB 300 million. The required sources of funds for the increase are self owned or self raised funds.
Please refer to the relevant announcement disclosed by the company on CNINF network on October 30, 2023.
7. On December 13, 2023, the 34th meeting of the fourth board of directors of the Company was held, and the proposal to
increase the total amount of repurchased shares was reviewed and approved. Based on confidence in the Company's future
development prospects and recognition of the Company's value, safeguarding the interests of shareholders and enhancing investor
confidence, the board of directors agreed to increase the amount of repurchased shares and adjust the total amount of funds
proposed for repurchasing shares from "no less than RMB 200 million and no more than RMB 300 million" to "no less than RMB
35 million and no more than RMB 500 million". Please refer to the relevant announcement disclosed by the company on
December 14, 2023 on CNINF network.
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