Contents 目錄 | | | 頁次 | | --- | --- | --- | | Corporate Information | 公司資料 | 2 | | Financial Summary | 財務概要 | 4 | | Chairman's Statement | 主席報告書 | 5 | | Management Discussion and Analysis | 管理層討論與分析 | 7 | | Biographical Details of Directors and Senior Management | 董事及高級管理層履歷 | 15 | | Corporate Governance Report | 企業管治報告 | 21 | | Environmental, Social and Governance Report | 環境、社會及管治報告 | 40 | | Directors' Report | 董事會報告 | 97 | | Independent Auditor's Report | 獨立核數師報告 | 109 | | Consolidated Statement of Profit ...

作者：行情君 机构评级方面，目前暂无机构对该股做出投资评级建议。 行业估值方面，汽车行业市盈率（TTM）平均值为15.94倍，行业中值7.94倍。天瑞汽车内饰市盈率 75.36倍，行业排名第31位；其他中国汽车内饰（00048.HK）为0.82倍、浦林成山（01809.HK）为3.29 倍、BRILLIANCE CHI（01114.HK）为4.02倍、郑煤机（00564.HK）为5.25倍、新晨动力（01148.HK） 为5.29倍。 资料显示，中国天瑞汽车内饰件有限公司是中国西北最大的重型卡车内饰零部件制造商,占据市场领先 地位。公司的产品主要包括重型卡车或乘用车安装用的各类汽车内饰零部件,其次包括外饰零部件。公 司按照客户对汽车内饰产品的功能规格及外观等具体要求提供定制的设计和开发解决方案。公司公司总 部及生产设施场地的总建筑面积约为30,684平方米,位于中国陕西省西安市的一幅占地面积约53,340平方 米的地块。公司于该基地共有30多条注塑成型生产线及10多条模压生产线。公司的生产能力可让公司向 客户提供广泛的产品,包括地板垫、仪表板、顶篷、高架箱、车门饰板及其他产品(如隔热垫、保险杠 芯、进气格栅及 ...

Financial Performance - Revenue for the year ended December 31, 2024, was RMB 242,902 thousand, a decrease of 1.2% compared to RMB 245,833 thousand in 2023[3] - Gross profit for the same period was RMB 43,935 thousand, down 6.8% from RMB 47,119 thousand, resulting in a gross margin of 18.1%, a decline of 1.1 percentage points[3] - Profit attributable to equity shareholders was RMB 1,966 thousand, a significant drop of 46.7% from RMB 3,746 thousand in the previous year[3] - Basic and diluted earnings per share decreased by 47.4% to RMB 0.10 from RMB 0.19[3] - Total revenue for 2024 was RMB 242,902 thousand, slightly down from RMB 245,833 thousand in 2023, representing a decrease of about 1.2%[19] - The total gross profit for the reportable segments in 2024 was RMB 43,935 thousand, down from RMB 47,119 thousand in 2023, a decline of approximately 6.5%[25] - Other income decreased to RMB 3,973 thousand in 2024 from RMB 4,101 thousand in 2023, a reduction of about 3.1%[27] - Financial costs decreased to RMB 7,473 thousand in 2024 from RMB 9,351 thousand in 2023, a decrease of approximately 20.0%[28] - Employee costs increased to RMB 41,972 thousand in 2024 from RMB 39,765 thousand in 2023, an increase of about 5.5%[29] - The company reported a pre-tax profit of RMB 1,377 thousand in 2024, down from RMB 3,316 thousand in 2023, a decline of approximately 58.5%[25] - Research and development costs for 2024 were RMB 8,581,000, down 31.5% from RMB 12,608,000 in 2023[31] Assets and Liabilities - Total assets increased to RMB 422,211 thousand in 2024 from RMB 345,782 thousand in 2023, reflecting a growth of 22.1%[6] - Trade receivables rose to RMB 204,890 thousand, up 22.7% from RMB 167,045 thousand in 2023[6] - Non-current assets increased to RMB 201,351 thousand, compared to RMB 183,151 thousand in the previous year, marking an increase of 9.3%[6] - The company reported a net cash position of RMB 142,260 thousand, up from RMB 92,603 thousand, indicating a growth of 53.6%[6] - Trade payables decreased to RMB 131,137,000 in 2024 from RMB 141,437,000 in 2023, a decline of approximately 7.3%[40] - The company has no significant liabilities related to retirement benefits beyond the defined contribution plans[30] Revenue Breakdown - Revenue from heavy truck decorative parts decreased to RMB 191,469 thousand in 2024 from RMB 224,354 thousand in 2023, a decline of approximately 14.6%[19] - Revenue from passenger car decorative parts and related molds increased to RMB 51,433 thousand in 2024 from RMB 21,479 thousand in 2023, a growth of approximately 139.9%[19] - Revenue decreased from approximately RMB 245.8 million for the year ended December 31, 2023, to approximately RMB 242.9 million for the year ended December 31, 2024, a decline of about 1.2%[49] - Revenue from heavy truck decorative parts decreased from approximately RMB 224.4 million for the year ended December 31, 2023, to approximately RMB 191.5 million for the year ended December 31, 2024, a decline of about 14.7%[46] - Revenue from passenger car decorative parts increased from approximately RMB 21.5 million for the year ended December 31, 2023, to approximately RMB 51.4 million for the year ended December 31, 2024, an increase of about 139.5%[48] Dividends and Shareholder Returns - The company did not declare a final dividend for the year, maintaining a policy of reinvestment[3] - The company did not declare any dividends for the fiscal year ending December 31, 2024, consistent with the previous year[43] - The company does not recommend the payment of a final dividend for the year ended December 31, 2024[68] Employee and Management - As of December 31, 2024, the group had a total of 321 full-time employees, a decrease from 361 in 2023, with total employee costs amounting to RMB 42.0 million, representing an increase of approximately 5.6% compared to RMB 39.8 million in 2023[69] - The average number of ordinary shares outstanding remained stable at 2,000,000,000 for both 2024 and 2023[36] - The company emphasizes employee training and competitive compensation to retain talent and enhance skills[69] - The company plans to enhance its "TES" management system to standardize group management and improve employee incentive mechanisms[72] Future Outlook - The company anticipates a stable recovery of the economy in 2025, with the heavy truck market expected to show a low-to-high demand trend throughout the year[72] - The expected sales volume for heavy trucks in 2025 is projected to be between RMB 150-180 million, accounting for approximately 40% of total sales[44] - The expected sales volume for passenger vehicles in 2025 is projected to be between RMB 200-250 million, accounting for approximately 60% of total sales[44] Corporate Governance - The company has adhered to the corporate governance code throughout the year ending December 31, 2024, with a noted deviation regarding the roles of the Chairman and CEO being held by the same individual[73] - The company will continue to review the separation of the roles of Chairman and CEO to ensure effective strategic planning[73] Audit and Compliance - The independent auditor has confirmed that the preliminary performance figures for the year ending December 31, 2024, align with the audited financial statements[75] - There are no significant post-period events affecting the company's operational and financial performance as of the announcement date[70]

Revenue Performance - Revenue from sales of heavy truck decorative components decreased from approximately RMB104.8 million for the six months ended June 30, 2023, to approximately RMB90.9 million for the six months ended June 30, 2024, representing a decrease of approximately 13.2%[12] - Revenue from sales of passenger vehicle decorative components decreased from approximately RMB11.3 million for the six months ended June 30, 2023, to approximately RMB7.5 million for the six months ended June 30, 2024, representing a decrease of approximately 33.6%[13] - Revenue decreased from approximately RMB116.2 million for the six months ended 30 June 2023 to approximately RMB98.5 million for the six months ended 30 June 2024, representing a decrease of approximately 15.2%[17] - Total revenue from contracts with customers for the six months ended June 30, 2024, was RMB 98,461,000, down from RMB 116,154,000 in the same period of 2023, representing a decline of 15.2%[92] - Revenue from sales of heavy trucks' decorative components and parts for the six months ended June 30, 2024, was RMB 90,942,000, a decrease of 13.3% compared to RMB 104,832,000 for the same period in 2023[92] - Revenue from sales of passenger vehicles' decorative components and parts for the six months ended June 30, 2024, was RMB 7,519,000, a decrease of 33.3% compared to RMB 11,322,000 for the same period in 2023[92] Profitability and Margins - Gross profit decreased from approximately RMB23.8 million for the six months ended June 30, 2023, to approximately RMB15.8 million for the six months ended June 30, 2024, representing a decrease of approximately 33.5%[14] - Overall gross profit margin decreased from approximately 20.5% for the six months ended June 30, 2023, to approximately 16.0% for the six months ended June 30, 2024[14] - Loss from operations was RMB 1,609,000, compared to a profit of RMB 1,279,000 for the same period in 2023[71] - Loss attributable to equity shareholders for the period was RMB 3,676,000, an increase of 24.4% from RMB 2,956,000 in 2023[72] - Total comprehensive income for the period ended June 30, 2024, was RMB (3,608,000), reflecting a decrease from RMB (2,645,000) in the previous year[78] Operational Challenges - The decrease in revenue was attributed to a decrease in sales volume in the heavy truck engine market and a shift of customers from outsourcing production to self-production[13][15] - The company is facing significant operational pressure amidst keen industry competition and slowed domestic consumption growth[10] - The company has not yet achieved mass production of newly developed products, impacting revenue from passenger vehicle components[13] Expenses and Cost Management - Selling and distribution expenses decreased from approximately RMB4.5 million to approximately RMB1.7 million, a decrease of approximately 62.6%[21] - Administrative expenses decreased from approximately RMB17.4 million to approximately RMB15.2 million, representing a decrease of approximately 12.6%[23] - Finance costs decreased from approximately RMB4.7 million to approximately RMB3.4 million, a decrease of approximately 27.7%[24] - Research and development costs for the six months ended June 30, 2024, were RMB 3,328,000, down from RMB 6,373,000 in 2023, indicating a reduction of 47.8%[106] - Depreciation and amortization expenses for the six months ended June 30, 2024, were RMB 16,232,000, slightly down from RMB 16,820,000 in 2023[106] Financial Position - Cash and cash equivalents as of 30 June 2024 were approximately RMB50.3 million, down from RMB67.5 million as of 31 December 2023[29] - Current assets decreased to RMB 325,441,000 from RMB 345,782,000 as of December 31, 2023[74] - Current liabilities increased to RMB 246,349,000 from RMB 264,911,000 as of December 31, 2023[75] - Net assets as of June 30, 2024, were RMB 241,838,000, down from RMB 245,446,000 as of December 31, 2023[75] - The balance of equity attributable to shareholders at June 30, 2024, was RMB 241,838,000, a decrease from RMB 245,446,000 at the beginning of the year[76] Capital Expenditures and Investments - Capital expenditures for the six months ended 30 June 2024 were approximately RMB9.23 million, compared to approximately RMB7.06 million for the same period in 2023[36] - The Group's capital commitments for properties, plants, and equipment amounted to approximately RMB 23.7 million as of June 30, 2024, compared to RMB 22.4 million as of December 31, 2023[41] - The Group had no significant investments or material acquisitions and disposals during the six months ended June 30, 2024[45] Corporate Governance and Compliance - The Group has committed to maintaining a higher standard of corporate governance and has complied with all code provisions of the Corporate Governance Code for the six months ended June 30, 2024[54] - The Company has adopted the Model Code for Securities Transactions, confirming compliance by all Directors and senior management for the six months ended June 30, 2024[57] - The audit committee reviewed the accounting principles and policies, as well as internal control and financial reporting matters for the interim results for the six months ended June 30, 2024[68] Shareholder Information - Mr. Hou Jianli holds a long position of 1,500,000,000 shares, representing 75% of the Company's shareholding[61] - H&C Group Holding Limited, controlled by Mr. Hou Jianli and Ms. Chen Bierui, has a beneficial ownership of 1,500,000,000 shares, also representing 75%[65] - The entire issued share capital of H&C Group Holding Limited is owned 60% by Mr. Hou Jianli and 40% by Ms. Chen Bierui[65] Taxation - The subsidiaries in the PRC are subject to a corporate income tax rate of 25% for the six months ended June 30, 2024, consistent with the previous year[108] - Certain subsidiaries in the PRC enjoy a preferential corporate income tax rate of 15% due to approvals received under the Third Phase of the Western Region Development Plan, applicable from 2021 to 2030[108] - The Group's subsidiary Xi'an Tianrui is qualified as a High and New Technology Enterprise, allowing it to benefit from a preferential income tax rate of 15% from 2022 to 2024[108]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對 其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內 容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （股份代號：6162） （於開曼群島註冊成立的有限公司） 中國天瑞汽車內飾件有限公司 CHINA TIANRUI AUTOMOTIVE INTERIORS CO., LTD 截至2024年6月30日止六個月 之中期業績公告 | --- | --- | --- | --- | |-----------------------------|--------------|--------------------|---------------| | | | | | | | | | | | | 截至 | 6 月 30 日止六個月 | | | | 2024 年 | 2023 年 | | | | 人民幣千元 | 人民幣千元 | 變動 | | | （未經審核） | （未經審核） | | | | | | | | 收入 | 98,461 | 116,154 | –15.23% | | 毛利 | 15,796 | 23,7 ...

Corporate Information 公司資料 DIRECTORS Executive Directors Mr. Hou Jianli (Chairman) Mr. Xu Yunhua (Resigned on 19 April 2024) Ms. Zhang Jingrong (Appointed on 19 April 2024) Independent Non-executive Directors Mr. Zhu Hongqiang Mr. Zhou Genshu Mr. Chen Geng Contents 目錄 | | | 頁次 | | --- | --- | --- | | Corporate Information | 公司資料 | 2 | | Financial Summary | 財務概要 | 4 | | Chairman's Statement | 主席報告書 | 5 | | Management Discussion and Analysis | 管理層討論及分析 | 7 | | Biographical Details of Directors and Senior Mana ...

Financial Performance - Revenue for the year ended December 31, 2023, was RMB 245,833,000, representing a 39.6% increase from RMB 176,094,000 in 2022[3] - Gross profit increased to RMB 47,119,000, a significant rise of 271.7% compared to RMB 12,675,000 in the previous year, with a gross margin of 19.2%[3] - The profit attributable to equity shareholders was RMB 3,746,000, a turnaround from a loss of RMB 26,010,000 in 2022, marking a 114.4% improvement[3] - Basic and diluted earnings per share improved to RMB 0.19 from a loss of RMB 1.30, reflecting a 114.6% increase[3] - Total revenue for the group reached RMB 245,833,000 in 2023, up from RMB 176,094,000 in 2022, marking an increase of 39%[33] - The group reported a pre-tax profit of RMB 3,316,000 in 2023, recovering from a loss of RMB 30,333,000 in 2022[35] - The company reported a profit of RMB 3,746,000 for the year ended December 31, 2023, compared to a loss of RMB 26,010,000 in 2022[47] Revenue Breakdown - Revenue from heavy truck decorative parts increased to RMB 224,354,000 in 2023 from RMB 151,582,000 in 2022, representing a growth of 48%[28] - Revenue from passenger car decorative parts decreased to RMB 21,479,000 in 2023 from RMB 24,512,000 in 2022, a decline of 12%[28] - Revenue from heavy truck decorative parts rose from approximately RMB 151.6 million in 2022 to approximately RMB 224.4 million in 2023, an increase of about 48.01%[61] Asset and Liability Management - Total assets as of December 31, 2023, were RMB 345,782,000, compared to RMB 306,075,000 in 2022, indicating a growth in asset base[9] - Trade receivables increased to RMB 167,045,000 from RMB 125,300,000, showing a 33.4% rise year-over-year[9] - Current liabilities decreased slightly to RMB 264,911,000 from RMB 255,869,000, indicating improved liquidity management[9] - Trade payables surged from RMB 97,805,000 in 2022 to RMB 141,437,000 in 2023, marking an increase of approximately 44.5%[53] Income and Expenses - Other income for the year was RMB 4,101,000, up from RMB 3,000,000 in 2022, reflecting a growth of 36.8%[5] - Financial costs for the group were RMB 9,351,000 in 2023, slightly up from RMB 9,198,000 in 2022[39] - Employee costs decreased from RMB 41,773,000 in 2022 to RMB 39,765,000 in 2023, a reduction of approximately 4.8%[40] - Research and development costs increased from RMB 12,151,000 in 2022 to RMB 12,608,000 in 2023, reflecting a growth of about 3.8%[43] - Selling expenses decreased from approximately RMB 3.8 million in 2022 to approximately RMB 2.8 million in 2023, a decline of about 26.8%[66] - Administrative expenses rose from approximately RMB 33.1 million in 2022 to approximately RMB 35.6 million in 2023, an increase of about 7.4%[67] Cash Flow and Dividends - The company did not declare a final dividend for the year, as indicated in the earnings announcement[3] - The company did not recommend any dividends for the year ended December 31, 2023, consistent with the previous year[57] - The company reported a net cash position of RMB 92,603,000, down from RMB 106,491,000 in the previous year, indicating a decrease in cash reserves[9] Market Outlook and Strategy - Looking ahead to 2024, the heavy truck market is expected to show a low start and high growth trend, while the passenger car market has significant potential supported by policies, aiding the growth of domestic brand market share and sales[87] - The company will continue to focus on both passenger and commercial vehicles to maintain market presence and explore external market opportunities[87] Governance and Compliance - The company has adopted the corporate governance code as a basis for its governance practices and has complied with it for the year ending December 31, 2023, with some deviations noted[89] - The independent auditor, KPMG, has agreed that the preliminary performance figures for the year ending December 31, 2023, align with the audited financial statements[91] Employee Management - The company emphasizes competitive compensation and employee training to retain talent and enhance skills[84] - As of December 31, 2023, the group had a total of 361 full-time employees, a decrease from 389 in 2022, resulting in total employee costs of approximately RMB 398 million, down about 4.8% from RMB 418 million in 2022[84] Other Information - The company has not engaged in the purchase, sale, or redemption of any listed securities during the reporting period[86] - There have been no significant post-period events affecting the company's operational and financial performance as of December 31, 2023[85] - The annual general meeting is scheduled for June 28, 2024, with a suspension of share transfer registration from June 25 to June 28, 2024, to determine voting rights[92][93]

Contents 目錄 | | | Pages | | --- | --- | --- | | | | 頁次 | | Corporate Information | 公司資料 | 2 | | Management Discussion and Analysis | 管理層討論及分析 | 4 | | Consolidated Statement of Profit or Loss | 綜合損益表 | 17 | | Consolidated Statement of Profit or Loss | 綜合損益及其他全面收益表 | 18 | | and Other Comprehensive Income | | | | Consolidated Statement of Financial Position | 綜合財務狀況表 | 19 | | Consolidated Statement of Changes in Equity | 綜合權益變動表 | 21 | | Consolidated Statement of Cash Flows | 綜合現金流量表 | 23 | | Notes to the Unau ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 CHINA TIANRUI AUTOMOTIVE INTERIORS CO., LTD 中國天瑞汽車內飾件有限公司 （於開曼群島註冊成立的有限公司） 6162 （股份代號： ） 2023 6 30 截 至 年 月 日 止 六 個 月 之 中 期 業 績 公 告 業績摘要 6 30 截至 月 日止六個月 2023 2022 年 年 人民幣千元 人民幣千元 變動 （未經審核） （未經審核） 116,154 78,502 47.96% 收入 23,754 11,275 110.68% 毛利 20.5% 14.4% 6.1 毛利率 個百分點 (2,956) (10,895) 72.87% 權益股東應佔虧損 每股虧損 ...

Contents 目錄 | | | Pages | | --- | --- | --- | | | | 頁次 | | Corporate Information | 公司資料 | 2 | | Financial Summary | 財務概要 | 5 | | Chairman's Statement | 主席報告書 | 6 | | Management Discussion and Analysis | 管理層討論及分析 | 8 | | Biographical Details of Directors and Senior Management | 董事及高級管理層履歷 | 16 | | Corporate Governance Report | 企業管治報告 | 22 | | Environmental, Social and Governance Report | 環境、社會及管制報告 | 41 | | Directors' Report | 董事會報告 | 102 | | Independent Auditor's Report | 獨立核數師報告 | 115 | | Consolidated Stat ...