HARBIN BOSHI AUTOMATION CO., LTD. Interim Report for
The First Quarter 2025
The Company and whole members of the Board of Directors guarantee that the information disclosedis factual, accurate and complete, and there is no false record, misleading statement or materialomission.
Important content reminder:
1.The Board of Directors, the Board of Supervisors as well as all the directors, supervisors and seniormanagers of HARBIN BOSHI AUTOMATION CO., LTD. ( hereinafter referred to as “the Company”)warrant the factuality, accuracy and completeness of this Report and there is no false record,misleading statement or material omission. And they will be severally and jointly liable for this Report.
2.The person in charge of the Company, the person in charge of accounting work of the Company, andthe person in charge of accounting department of the Company warrant that the financial informationin this Report is factual, accurate and complete.
3. Whether this First Interim Report has been audited by auditing firm or not?
□Yes √No
I. Main financial data
1. Main accounting data and financial indicators
Indicate by check mark if there is any retrospectively restated accounting data of previous years.
□Yes √No
Jan 1 to Mar 31, 2025
Jan 1 to Mar 31, 2024
Increase/Decrease over thesame period of previous year
Operating Revenue (RMB)700,025,064.80
661,556,066.08
5.81%
Net profit attributable to parent company’sshareholders (RMB)
150,060,221.43
105,613,101.50
42.08%
Net profit after deducting non-recurringprofit or loss attributable to shareholders of theparent company (RMB)
140,242,465.19
96,268,409.94
45.68%
Net cash flow from operating activities (RMB)
-40,463,557.49
-49,813,273.29
18.77%
Basic earnings per share (RMB/share)
0.1478
0.1038
42.39%
Diluted earnings per share (RMB/share)
0.1465
0.1038
41.14%
Weighted average return on equity
3.88%
2.98%
0.90%
Mar 31, 2025 Dec 31, 2024
Increase/decrease of Mar 31,
2025 over Dec 31, 2024Total assets (RMB)6,939,892,261.66
6,955,348,945.64
-0.22%
Total equity attributable to shareholders of theparent company (RMB)
3,954,219,490.31
3,790,432,312.96
4.32%
2. Non-recurring gains and losses
√ Applicable □Not applicable
Unit: RMB
Item Jan 1 to Mar 31, 2025 NoteProfit or loss from disposal of non-current assets (including the write-
off of accrued
for impairment of assets)
157.57
| off of accrued | ||
Governmental subsidy reckoned into current gains or losses (excluding the subsidyenjoyed in quota or ration according to the unified national standards, which areclosely relevant to enterprise’s business)
3,570,953.86
P
rofit or loss arising from the changes in the fair value of financial assets, financial
8,459,513.38
| rofit or loss arising from the changes in the fair value of financial assets, financial | |
Income from cash
liabilities by non-financial enterprises
disposal of financial assets and financial liabilities, except
, as well as investment income from theeffectively hedging
business related to normal business operations of company.
management
Other non-operating income and expenses other than the above
548.52
effectively hedging
Less: Impact on income tax1,532,409.63
Impact on minority shareholders’ equity (after tax)681,007.46
Total9,817,756.24
--
Other gain/loss items that qualified the definition of non-recurring profit (gains)/losses:
□ Applicable √Not applicable
The Company does not have other gain/loss items that qualified the definition of non-recurring profit(gains)/losses.
Explanation on those non-recurring gain/loss listed in the “Q&A Announcement No.1 on InformationDisclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss” defined asrecurring gain/loss.
□ Applicable √ Not applicable
The Company does not have the non-recurring gain/loss listed in the “Q&A Announcement No.1 onInformation Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss”defined as recurring gain/loss.
3. Particulars about changes in items of main accounting data and financial index and explanations ofreasons.
Consolidated Balance Sheet items
Mar 31,2025
Dec 31,2024
Change Reasons for the changes(RMB) (RMB)Cash and cash equivalent
843,036,452.35
| 843,036,452.35 | 55,996,398.59 |
1405.52%
Mainly due to cash management activities.Financial assets held for trading
1,112,186,420.04
| 1,112,186,420.04 | 1,934,953,566.81 |
-42.52%
Mainly due to cash management activitiesFinancing receivable
83,529,638.95
| 83,529,638.95 | 53,851,796.67 |
55.11%
Due to the increase in the amount of bank
acceptance bills with higher credit rating at the
period end.Advance payment
99,602,034.33
| 99,602,034.33 | 69,344,997.81 |
43.63%
The operating advance payments increased.Non-current assets due within one year
4,422,459.26
| 4,422,459.26 | 8,666,821.13 |
-48.97%
Long-term receivables due within one year
received.Construction in progress
67,061.36
| 67,061.36 | 2,023,251.20 |
-96.69%
Construction in progress transferred to fixed
assets.
Other non-current assets
| 36,787,716.68 | 72,004,147.13 |
-48.91%
The long-term product quality guaranteedecreased compared with the opening balance.Employee benefits payable
21,149,184.78
| 21,149,184.78 | 77,703,338.35 |
-72.78%
The year-end bonus accrued at the end of the2024, which was paid this period, and the balancedecreased.Non-current liabilities due within one year
| 4,287,856.32 | 3,296,253.38 |
30.08%
The interest accrued on bonds payable due withinone year increased.Deferred income
11,419,000.00
| 11,419,000.00 | 1,340,000.00 |
752.16%
Earmarked project funds were received thisperiod.
Consolidated Income Statement items from
the beginning of the year to the end of the
reporting period
Jan 1 to Mar 31,2025
| Consolidated Income Statement items from | |
Jan 1 to Mar 31, 2024
Change Reasons for the changes(RMB) (RMB)Taxes and surcharges
8,347,845.14
| 8,347,845.14 | 4,519,845.54 |
84.69%
The turnover tax payable in this period increasedyear-on-year, and the taxes and surcharges alsoincreased accordingly.Financial expenses
5,641,436.12
| 5,641,436.12 | 231,475.21 |
2337.17%
Jointly influenced by interest expenses increasedand interest income decreased.Thereof : Interest expenses
4,914,894.91
| 4,914,894.91 | 3,315,708.11 |
48.23%
Interest expenses increased year-on-year.Interest income
463,228.93
| 463,228.93 | 3,488,426.46 |
-86.72%
Interest income decreased year-on-year.Other income
5,411,503.71
| 5,411,503.71 | 30,481,463.69 |
-82.25%
The value-added tax refund
received from sales of
product with software decreased year-on-year.Investment income (loss is stated with “-”)
received from sales of
| 10,149,482.64 |
-
197.23%
| 10,438,879.79 |
Jointly influenced by the investment income
accrued in associates and income from cash
management activities this period.Thereof: Income from investment inassociates and joint ventures
-
| 4,653,079.54 | 11,058,454.75 |
142.08%
The investment income accrued in associates
increased this period.Gains from changes in fair value (loss isstated with “-”)
2,963,110.28
5,173,071.32
2,963,110.28
-42.72%
Due to cash management activities.Income tax expenses
| 24,654,890.82 | 18,568,651.77 |
32.78%
The growth of revenue and profits has led to an
increase in income tax expenses.Net profit attributable to parent company’sshareholders(loss is stated with “-”)
150,060,221.43
| 150,060,221.43 | 105,613,101.50 |
42.08%
Jointly influenced by the increase in revenue and
the improvement in the gross profit rate level for
the current periodMinority interests(loss is stated with “-”)
7,491,883.01
| 7,491,883.01 | 16,564,114.17 |
-54.77%
Mainly due to the profits of its holding
subsidiary , Boao Environment, have decreased
year-on-yearConsolidated Cash Flow Statement itemsfrom the beginning of the year to the end of
the reporting period
Jan 1 to Mar 31,2025
Jan 1 to Mar 31, 2024
Change Reasons for the changes(RMB) (RMB)Net cash flows from investing activities
| 823,366,436.16 | 370,494,696.11 |
122.23%
Mainly due to the impact of cash managementactivities.
Net cash flows from financing activities
-
| 1,484,488.32 | 82,525,837.15 |
101.80%
Due to the Company shares buy-back in the baseperiod.
II. Shareholders Information
1. Total number of common shareholders and preference shareholders with voting rights recoveredand top ten common shareholders
Unit: ShareTotal number of shareholders of commonstocks at the end of the reporting period
54,978
Total preference shareholders with
voting rights recovered at end ofreporting period
Total preference shareholders with
Top 10 shareholders(Excluding shares lent in refinancing)Name Nature Ownership
Amount of shares held
Amount ofrestrictedshares held
Pledged, marked or frozen
stocksStatus Amount
Unicom-Xinwo Venture CapitalManagement (Shanghai) Co., Ltd. -Lianchuang Weilai (Wuhan) IntelligentManufacturing Industrial InvestmentPartnership (Limited Partnership)
Others
14.20%
145,176,676
Not applicable
Deng Xijun Domestic natural person
9.41%
96,181,562
72,136,172
Not applicable
Zhang Yuchun Domestic natural person
8.09%
82,696,357
62,022,268
Not applicable
Wang Chungang Domestic natural person
5.61%
57,394,047
43,045,535
Not applicable
Cai Zhihong Domestic natural person
4.96%
50,677,029
Not applicable
Cai Hegao Domestic natural person
4.89%
50,000,000
Not applicable
Cheng Fang Domestic natural person
1.19%
12,117,896
Not applicable
Tan Jianxun Domestic natural person
1.13%
11,516,538
Not applicable
Liu Meixia Domestic natural person
1.04%
10,639,500
Not applicable
Wang Haocheng Domestic natural person
0.95%
9,750,000
Not applicable
Top 10 shareholders with unrestricted shares held(Excluding shares lent in refinancing and executive lock-in shares)Name Amount of unrestricted shares held
Type of sharesType AmountUnicom-Xinwo Venture CapitalManagement (Shanghai) Co., Ltd. -Lianchuang Weilai (Wuhan) IntelligentManufacturing Industrial InvestmentPartnership (Limited Partnership)
145,176,676
RMB ordinary shares145,176,676
Cai Zhihong50,677,029
RMB ordinary shares50,677,029
Cai Hegao50,000,000
RMB ordinary shares50,000,000
Deng Xijun24,045,390
RMB ordinary shares24,045,390
Zhang Yuchun20,674,089
RMB ordinary shares20,674,089
Wang Chungang14,348,512
RMB ordinary shares14,348,512
Cheng Fang12,117,896
RMB ordinary shares12,117,896
Tan Jianxun11,516,538
RMB ordinary shares11,516,538
Liu Meixia10,639,500
RMB ordinary shares10,639,500
Wang Haocheng9,750,000
RMB ordinary shares9,750,000
Shareholders holding more than 5% of the shares, the top 10 shareholders, and the top 10 shareholders ofunrestricted tradable shares participate in the lending of shares in the refinancing business.
□Applicable √Not applicable
The top 10 shareholders and the top 10 shareholders of unrestricted tradable shares have changed comparedwith the previous period due to the refinancing, lending/repayment.
□Applicable √Not applicable
2.The total number of preferred shareholders and the top 10 preferred shareholders’ shareholdings ofthe Company
□Applicable √Not applicable
III. Other Significant Events
□Applicable √Not applicable
IV. Quarterly Financial Statements
1. Financial statements
(1)Consolidated Balance Sheet
Prepared by HARBIN BOSHI AUTOMATION CO., LTD. Unit: RMB
Item Mar 31 ,2025 Jan 1, 2025Current assets:
Cash and cash equivalent843,036,452.35
55,996,398.59
Financial assets held for trading1,112,186,420.04
1,934,953,566.81
Derivative financial assets
Notes receivable182,619,443.40
197,170,155.60
Accounts receivable1,208,807,262.94
1,201,119,619.90
Financing receivable83,529,638.95
53,851,796.67
Advance payment99,602,034.33
69,344,997.81
Other receivables31,175,302.96
36,340,345.23
Thereof: Interest receivable
0.00
0.00
Dividend receivable2,600,701.32
8,360,557.32
Inventories2,051,243,686.74
2,072,436,762.83
Contract assets196,334,663.00
156,905,007.88
Assets held for sale
Non-current assets due within one year4,422,459.26
8,666,821.13
Other current assets14,618,805.65
20,661,815.01
Total current assets5,827,576,169.62
5,807,447,287.46
Non-current assets:
Debt investments
Other debt investments
Long-term receivable12,520,395.31
12,520,693.35
Long-term equity investment526,743,586.10
523,324,767.86
Investment in other equity instruments61,002,054.39
61,002,054.39
Other non-current financial assets
Investment real estate10,897,265.08
11,072,140.54
Fixed assets360,728,912.05
362,897,699.40
Construction in progress67,061.36
2,023,251.20
Productive biological assets
Oil and gas assets
Right-of-use assets3,492,442.78
4,223,259.80
Intangible assets52,839,839.63
54,090,016.00
Development expenditure
Goodwill401,878.10
401,878.10
Long-term deferred expenses67,559.07
75,344.58
Deferred income tax assets46,767,381.49
44,266,405.83
Other non-current assets36,787,716.68
72,004,147.13
Total non-current assets1,112,316,092.04
1,147,901,658.18
Total assets6,939,892,261.66
6,955,348,945.64
Current liabilities:
Short-term loans37,376,419.47
36,873,798.71
Financial liabilities held for trading
Derivative financial liabilities
Notes payable
Accounts payable257,728,208.44
287,672,496.07
Advance from customers70,305.00
96,750.00
Contract liabilities1,662,214,399.49
1,806,791,270.47
Employee benefits payable21,149,184.78
77,703,338.35
Taxes payable50,021,191.02
45,232,724.27
Other payables52,607,066.42
54,407,824.55
Thereof: Interest payable
0.00
0.00
Dividend payable4,900,000.00
4,900,000.00
Liabilities held for sale
Non-current liabilities due within one year4,287,856.32
3,296,253.38
Other current liabilities129,593,087.56
126,947,921.74
Total current liabilities2,215,047,718.50
2,439,022,377.54
Non-current liabilities:
Long-term loans
Bonds payable451,142,918.03
447,585,593.01
Thereof: Preferred stock
Perpetual debt
Lease liabilities324,557.16
752,611.54
Long-term payables
Long-term employee benefits payable
Estimated liabilities7,625,730.55
9,906,258.47
Deferred income11,419,000.00
1,340,000.00
Deferred income tax liability18,551,365.93
17,190,937.90
Other non-current liabilities114,414,453.39
88,916,685.57
Total non-current liabilities603,478,025.06
565,692,086.49
Total Liabilities2,818,525,743.56
3,004,714,464.03
Shareholders' equity:
Share capital1,022,560,873.00
1,022,559,197.00
Other equity instruments32,091,358.58
32,093,192.04
Thereof: Preferred stock
Perpetual debt
Capital reserve346,044,203.19
333,197,886.86
Minus: treasury shares41,777,510.20
41,777,510.20
Other comprehensive income28,610,120.61
28,344,422.67
Special reserve28,068,141.77
27,453,042.66
Surplus reserve397,185,756.08
397,185,756.08
General risk reserve
Retained earnings2,141,436,547.28
1,991,376,325.85
Total equity attributable to shareholders of parentcompany
3,954,219,490.31
3,790,432,312.96
Minority shareholder equity167,147,027.79
160,202,168.65
Total shareholders' equity4,121,366,518.10
3,950,634,481.61
Total liabilities and shareholders' equity6,939,892,261.66
6,955,348,945.64
Legal representative: Deng Xijun Director of Finance: Sun Zhiqiang Prepared by: Wang Peihua
(2)Consolidated Income Statement
Unit: RMB
Item Current period Last period
1. Total revenue
700,025,064.80
661,556,066.08
Thereof : Operating revenue700,025,064.80
661,556,066.08
2. Total cost
527,634,039.96
538,442,856.96
Thereof: Cost of sales421,565,298.88
448,452,537.86
Taxes and surcharges8,347,845.14
4,519,845.54
Selling expenses30,019,128.04
33,067,230.42
General and administrative expenses28,411,674.81
24,010,192.48
Research and development expenses33,648,656.97
28,161,575.45
Financial expenses5,641,436.12
231,475.21
Thereof : Interest expenses4,914,894.91
3,315,708.11
Interest income463,228.93
3,488,426.46
Add: Other income5,411,503.71
30,481,463.69
Investment income (loss is stated with “-”)10,149,482.64
-10,438,879.79
Thereof: Investment income from associates and jointventures
4,653,079.54
-11,058,454.75
Gain from the derecognition of the financial assets measuredat amortized cost
Exchange income (Loss is listed with “-”)
Net exposure hedging gains ("-" for losses)
Gains from changes in fair value (loss is stated with “-”)2,963,110.28
5,173,071.32
Credit impairment losses (loss is stated with “-”)-4,406,173.65
-4,023,799.88
Asset impairment losses (loss is stated with “-”)-4,302,658.65
-3,500,078.35
Gains from disposal of assets (loss is stated with “-”)
157.57
160.84
3. Operating profit (loss is stated with “-”)
182,206,446.74
140,805,146.95
Add: Non-operating income13,396.02
0.47
Less: Non-operating expenses12,847.50
59,279.98
4. Total profit (loss is stated with “-”)
182,206,995.26
140,745,867.44
Less: Income tax expenses24,654,890.82
18,568,651.77
5. Net profit (loss is stated with “-”)
157,552,104.44
122,177,215.67
(1) Classified by continuity of operations
1)Net profit from continuing operations(loss is stated with “-”)
157,552,104.44
122,177,215.67
2)Net profit from discontinued operations(loss is stated with “-”)
(2) Classified by ownership of the equity
1)Attributable to shareholders of the Parent Company
150,060,221.43
105,613,101.50
2)Minority interests
7,491,883.01
16,564,114.17
6. Other comprehensive income, net of tax
265,697.94
5,016,737.85
Other comprehensive income attributable to shareholders of theParent Company, net of tax
265,697.94
5,016,737.85
(1) Other comprehensive income items which will not be
reclassified subsequently to profit or loss
5,211,263.44
1) Changes arising from re-
| measurement of defined benefit |
plan
subsequently to profit or loss under the equity method
| 2) Other comprehensive income that will not be transferred | ||||
3) Changes in the fair value of the investment in otherequity instruments
5,211,263.44
4)Changes in the fair value of the Company’s own creditrisk
5)Others
(2) Other comprehensive income items which will be reclassifiedsubsequently to profit or loss
265,697.94
-194,525.59
1) Other comprehensive income that will be transferredsubsequently to profit or loss under the equity method
265,697.94
-194,525.59
2)Changes in the fair value of other debt investments
3)Amount of financial assets reclassified and included in
other comprehensive income
4) Credit impairment reserves for other debt investment
5) Cash flow hedging reserve
6) Translation differences arising from translation offoreign currency financial statements
7)Others
Other comprehensive income attributable to minority shareholders,net of tax
7. Total comprehensive income
157,817,802.38
127,193,953.52
Attributable to shareholders of the Parent Company150,325,919.37
110,629,839.35
Minority interests7,491,883.01
16,564,114.17
8. Earnings per share
(1) Basic earnings per share
0.1478
0.1038
(2) Diluted earnings per share
0.1465
0.1038
Legal representative: Deng Xijun Director of Finance: Sun Zhiqiang Prepared by: Wang Peihua
(3)Consolidated Cash Flow Statement
Unit: RMB
Item Current period Last period
1. Cash flows from operating activitiesCash received from sales of goods or rendering of services524,010,363.38
510,985,323.62
Refund of taxes and surcharges
24,889,930.40
Other cash receipts relating to operating activities14,791,880.68
9,526,021.45
Sub-total of cash inflows from operating activities538,802,244.06
545,401,275.47
Cash paid for goods and services286,903,029.85
336,423,772.87
Cash paid to employees and paid on behalf of employees188,696,433.60
180,222,032.08
Payments of taxes and surcharges79,036,007.24
49,622,314.14
Other cash payments relating to operating activities24,630,330.86
28,946,429.67
Sub-total of cash outflows from operating activities579,265,801.55
595,214,548.76
Net cash flows from operating activities-40,463,557.49
-49,813,273.29
2. Cash flows from investing activitiesCash received from withdrawing investments3,108,780,121.39
1,017,788,000.00
Cash received from investment income21,912,076.36
6,255,768.14
Net cash received from disposal of fixed assets, intangible assets andother long term assets
4,490.11
2,122.11
Net cash received from disposal of subsidiaries and other operatingunits
Other cash receipts relating to investing activities460,000.00
164,265.00
Sub-total of cash inflows from investing activities3,131,156,687.86
1,024,210,155.25
Cash paid to acquire fixed assets, intangible assets and otherlong-term assets
17,795,204.70
48,632,630.64
Cash paid to acquire investments2,289,240,000.00
604,740,000.00
Net increase of mortgaged loans
Net cash paid to acquire subsidiaries and other operating units
Other cash payments relating to investing activities755,047.00
342,828.50
Sub-total of cash outflows from investing activities2,307,790,251.70
653,715,459.14
Net cash flows from investing activities823,366,436.16
370,494,696.11
3. Cash flows from financing activitiesCash received from capital contributions150,000.00
100,000.00
Thereof: Cash received by subsidiaries from minority shareholders’capital contributions
150,000.00
100,000.00
Cash received from borrowings16,950,000.00
20,220,222.77
Other cash receipts from financing activities
200,000.00
Sub-total of cash inflows from financing activities17,100,000.00
20,520,222.77
Cash repayments of borrowings13,950,000.00
10,000,000.00
Distribution of dividends or profits and payments for interestexpenses
1,194,191.68
809,131.65
Thereof: Cash payments for dividends or profit to minorityshareholders by subsidiaries
1,000,000.00
612,500.00
Other cash payments relating to financing activities471,320.00
92,236,928.27
Sub-total of cash outflows from financing activities15,615,511.68
103,046,059.92
Net cash flows from financing activities1,484,488.32
-82,525,837.15
4. Effect of foreign exchange rate changes on cash and cash equivalents291,161.80
-7,797.34
5. Net increase in cash and cash equivalents
784,678,528.79
238,147,788.33
Add: Cash and cash equivalents at the beginning of period 51,529,654.30
330,325,705.08
6. Cash and cash equivalents at the end of period 836,208,183.09
568,473,493.41
2. Information about the implementation of new accounting standards for the first time to adjust therelevant items in the financial statements at the beginning of the period since 2025
□Applicable √Not applicable
3. Auditor’s report
Whether this First Interim Report has been audited by auditing firm or not?
□Yes √No
The First Interim Report has not been audited by auditing firm.
Board of Directors of HARBIN BOSHI AUTOMATION CO., LTD.
April 26
th, 2025