Stock Code: 000581, 200581 Public Notice No: 2019-023Short Form of the Stock: Weifu High- Tech, Su Weifu-B
Weifu High-Technology Group Co., Ltd.
Summary of Semi-Annual Report 2019
I. Important NoticeThe summary is abstract from full-text of semi-annual report, for more details of operating results, financialcondition and future development plan of the Company; investors should found in the full-text that published onmedia appointed by CSRC.Whole directors of the Company attend the Board Meeting for report deliberation.Prompt of non-standard audit opinion
□ Applicable √ Not applicable
Profit distribution pre-plan of common stock or capitalizing of common reserves pre-plan deliberated by theBoard in the reporting period
□ Applicable √ Not applicable
There is no plan of cash bonus, dividend distribution and capitalizing of common reserves carried out by theCompanyProfit distribution pre-plan of preferred stock deliberated and approved by the Board in the reporting period
□ Applicable √ Not applicable
II. Company profile
1. Company Profile
| Short form of the stock | Weifu High- Tech, Su Weifu-B | Stock code | 000581, 200581 | |
| Stock exchange for listing | Shenzhen Stock Exchange | |||
| Person/Way to contact | Secretary of the Board | Rep. of security affairs | ||
| Name | Zhou Weixing | Yan Guohong | ||
| Office add. | No.5, Huashan Road, Xinwu District, Wuxi City | No.5, Huashan Road, Xinwu District, Wuxi City | ||
| Tel. | 0510-80505999 | 0510-80505999 | ||
| wfjt@public1.wx.js.cn | wfjt@public1.wx.js.cn | |||
2. Main financial data and indexes
Whether it has retroactive adjustment or re-statement on previous accounting data
□Yes √ No
| Current period | Same period of last year | Changes over last year | |
| Operating income (RMB) | 4,403,444,346.05 | 4,960,801,890.99 | -11.24% |
| Net profit attributable to shareholders of the listed company (RMB) | 1,256,661,577.09 | 1,545,242,704.92 | -18.68% |
| Net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses (RMB) | 1,114,094,824.74 | 1,378,865,501.57 | -19.20% |
| Net cash flow arising from operating activities (RMB) | 690,323,908.25 | 378,923,690.48 | 82.18% |
| Basic earnings per share (RMB/Share) | 1.25 | 1.53 | -18.30% |
| Diluted earnings per share (RMB/Share) | 1.25 | 1.53 | -18.30% |
| Weighted average ROE | 7.60% | 9.92% | -2.32% |
| Current period-end | period-end of last year | Changes over end of last year | |
| Total assets (RMB) | 22,334,489,303.82 | 20,892,041,460.30 | 6.90% |
| Net assets attributable to shareholder of listed company (RMB) | 15,997,076,128.08 | 15,913,828,778.82 | 0.52% |
3. Number of shares and share-holding
In Share
| Total common stock shareholders in reporting period-end | 60,037 | Total preference shareholders with voting rights recovered at end of reporting period (if applicable) | 0 | ||||
| Top ten shareholders | |||||||
| Full name of Shareholders | Nature of shareholder | Proportion of shares held | Amount of shares held | Amount of restricted shares held | Number of shares pledged/frozen | ||
| State of share | Amount | ||||||
| Wuxi Industry Development Group Co., Ltd. | State-owned corporate | 20.22% | 204,059,398 | ||||
| ROBERT BOSCH GMBH | Foreign corporate | 14.16% | 142,841,400 | ||||
| Hong Kong Securities Clearing Company Ltd. (HKSCC) | Foreign corporate | 5.73% | 57,857,357 | ||||
| BBH BOS S/A FIDELITY FD - CHINA FOCUS FD | Foreign corporate | 1.84% | 18,530,315 | ||||
| Bank of Communication – HSBC Jixin Double Core Strategy Mixed Securities Investment Fund | Other | 1.82% | 18,331,307 | |||
| Central Huijin Assets Management Co., Ltd. | State-owned corporate | 1.27% | 12,811,200 | |||
| China Life Insurance - traditional - general insurance products - 005L-CT001 Shen | Other | 1.21% | 12,238,898 | |||
| China Life Insurance- Bonus -Individual bonus - -005L-FH002 Shen | Other | 1.14% | 11,459,033 | |||
| Tianda Assets Management Co., Ltd. - Tianda Global Strategy Fund - All China equity fund (Exchange) | Foreign corporate | 0.97% | 9,802,559 | |||
| Agricultural Bank of China - CS 500 ETF | Other | 0.69% | 7,007,675 | |||
| Explanation on associated relationship among the aforesaid shareholders | Among the top ten shareholders, there has no associated relationship between Wuxi Industry Development Croup Co., Ltd. and other shareholders, the first largest shareholder of the Company; and they do not belong to the consistent actionist regulated by the Management Measure of Information Disclosure on Change of Shareholding for Listed Company. | |||||
4. Changes of controlling shareholders or actual controller
Controlling shareholder changed in the Period
□ Applicable √ Not applicable
Controlling shareholders had no change in reporting period.Actual controller changed in the Period
□ Applicable √ Not applicable
Actual controller had no change in reporting period.
5. Total preferred shareholders and top 10 shares held by preferred shareholders
□ Applicable √ Not applicable
The Company has no preferred shareholders
6. Corporate bond
Whether the Company has a corporation bonds that issuance publicly and listed on stock exchange and withoutdue on the date when semi-annual report approved for released or fail to cash in full on due:
No
III. Discussion and analysis of operation
1. Operation status in the period
In the first half of 2019, the auto market was generally running at a low level, with a double-digit decline in thefirst half of the year. In the face of severe market conditions, the company faced difficulties and strived to seizemarket opportunities, took advantage of the trend, strengthened internal management, paid attention to riskmanagement and control, and strive to ensure the stability of the company's overall economic operation. Duringthe period, the Company achieved an operation revenue of 4.4 billion Yuan with a y-o-y decrease of 11.24%;profit amounted to 1.356 billion Yuan, a decrease of 19.3% from a year earlier; the net profit attributable toowners of parent company amounted as 1.257 billion Yuan, a decrease of 18.68% over same period of last year.Main work in the first half of the year
1. Figure out the situation, face difficulties, seek opportunities, strive to open up markets, focus on production anddelivery, strive to maintain market share of key products, and ensure the continuous stability of related productmarkets. In the first half of the year, the production and sales volume of common rail pumps exceeded 900,000units;
2. Focus on management quality, make full use of interconnection technologies, strengthen data interconnection andinteroperability, and further enhance the abilities of data collection, analysis and prediction. Continuously improvemanufacturing process management, strengthen flexible and agile production, and realize intelligent deploymentcapability of manufacturing process; continuously promote internal management of the company, sort outmanagement duties, upgrade and optimize standardization of system processes, and optimize organization;strengthen the group information system security construction, continuously promote the construction of businessproject information management platform, and promote the financial sharing center construction, the procurementsharing platform project construction and the human resources management system platform construction.Constantly enhance the foundation of the company's development.
3. In order to accelerate the cultivation of the company's new business growth point and accelerate thetransformation and upgrading of the company, the company established SPV (a wholly-owned subsidiary) inDenmark to acquire a 66% stake in Danish IRD Fuel Cells A/S held by FCCT ApS, equivalent to 7.26 millioneuros. By acquiring the equity of IRD, the company achieved the control of IRD, which is conducive to enhancingthe company's competitiveness in the new energy business market and in line with the company's developmentstrategy, and lays a good foundation for the company's sustainable, rapid and healthy development andtransformation and upgrading.
2. Matters relevant to financial report
(1) Particulars about the changes in aspect of accounting policy, estimates and calculation methodcompared with the accounting period of last year
√Applicable □Not applicable
In 2017, the Ministry of Finance revised and issued the Accounting Standards for Business Enterprises No. 22 -Recognition and Measurement of Financial Instruments and Accounting Standards for Business Enterprises No.23 - Transfer of Financial Assets , Accounting Standards for Business Enterprises No. 24 - Hedge Accounting, andthe Accounting Standards for Business Enterprises No. 37 – Financial Instruments Presentation, and the domesticlisted companies are required to put the relevant accounting standards of new financial instruments into force fromJanuary 1, 2019. The Company implement the above mentioned four accounting standards since 1 Jan. 2019
On April 2019, the Ministry of Finance issued No. 6 Document 2019-“Notice on Amending the 2019 AnnualFinancial Statements of General Enterprises”, which revised the financial statement format of general enterprisesin light of the relevant situation in the implementation of enterprise accounting standards.
(2) Particulars about retroactive restatement on major correction for accounting errors in reporting period
□ Applicable √ Not applicable
The company had no particulars about retroactive restatement on major correction for accounting errors in thereporting period.
(3) Particulars about the change of consolidation range compared with the accounting period of last year
√Applicable □Not applicable
| Company Name | The method of obtaining and handling subsidiaries during the report period | The influence to the whole production and performance |
| SPV | Establishment | No change |
| IRD Fuel Cells A/S | Acquisition | No change |
Board of Directors of
Weifu High-Technology Group Co., Ltd.
27 August 2019