无锡威孚高科技集团股份有限公司 2020 年年度报告全文 无锡威孚高科技集团股份有限公司 Weifu High-Technology Group Co., Ltd. ANNUAL REPORT 2020 April 2021 1 无锡威孚高科技集团股份有限公司 2020 年年度报告全文 Section I. Important Notice, Contents and Interpretation Board of Directors, Supervisory Committee, all directors, supervisors and senior executives of Weifu High-Technology Group Co., Ltd. (hereinafter referred to as the Company) hereby confirm that there are no any fictitious statements, misleading statements, or important omissions carried in this report, and shall take all responsibilities, individual and/or joint, for the reality, accuracy and completion of the whole contents. Wang Xiaodong, Principal of the Company, Ou Jianbin, person in charger of accounting works and Ou Jianbin, person in charge of accounting organ (accounting principal) hereby confirm that the Financial Report of 2020 Annual Report is authentic, accurate and complete. All directors are attend the Meeting for the Report deliberation. Concerning the forward-looking statements with future planning involved in the Report, they do not constitute a substantial commitment for investors. Investors should be cautious with investment risks. China's economy has entered a critical period of transformation, and the main theme is to reduce speed and improve quality. China's auto market has also entered a period of transformation and adjustment. In a complex economic environment, weak consumption is still the main risk point that drags down the auto market. Investors are advised to pay attention to investment risks. The profit distribution plan that deliberated and approved by the Board is: based on total share capital of 1,008,894,293, distributed 15 Yuan (tax included) bonus in cash for every 10-share hold by all shareholders, 0 share bonus issued (tax included) and no public reserve transfer into share capital either. 2 无锡威孚高科技集团股份有限公司 2020 年年度报告全文 Contents Section I Important Notice, Contents and Interpretation .............................................................. 2 Section II Company Profile and Main Finnaical Indexes ............................................................ 5 Section III Summary of Business .................................................................................................. 10 Section IV Discussion and Analysis of Operation ....................................................................... 15 Section V Material Matters ............................................................................................................. 38 Section VI Changes in shares and particular about shareholders ............................................... 52 Section VII Preferred Stock……………………………………………………………………… 60 Section VIII Convertible Bonds .....................................................................................................61 Section IX Particulars about Directors, Supervisors,SeniorExecutives and Employees........... 62 Section X Corporate Governance ................................................................................................... 73 Section XI Corporate Bond ............................................................................................................. 80 Section XII Financial Report .......................................................................................................... 81 Section XIII Documents Available for Reference ........................................................................ 253 3 无锡威孚高科技集团股份有限公司 2020 年年度报告全文 Interpretation Items Refers to Contents Company, The Company, WFHT Refers to Weifu High-Technology Group Co., Ltd. Weifu Group Refers to Wuxi Weifu Group Co., Ltd. Industry Group Refers to Wuxi Industry Development Group Co., Ltd. Robert Bosch, Robert Bosch Company Refers to Robert Bosch Co., Ltd, ROBERT BOSCH GMBH Bosch Automobile Diesel, Bosch Diesel System Refers to Bosch Automobile Diesel System Co., Ltd. Weifu Leader Refers to Wuxi Weifu Leader Catalytic Converter Co., Ltd. Weifu Jinning Refers to Nanjing Weifu Jinning Co., Ltd. Weifu Tianli Refers to Ningbo Weifu Tianli Supercharging Technique Co., Ltd. Weifu Chang’an Refers to Wuxi Weifu Chang’an Co., Ltd. Weifu Mashan Refers to Weifu Mashan Pump Glib Co., Ltd. Weifu International Trade Refers to Wuxi Weifu International Trade Co. Ltd. Weifu Schmidt Refers to Wuxi Weifu Schmidt Power System Spare Parts Co., Ltd. Weifu Autocam Refers to Wuxi Weifu Autocam Fine Machinery Co. Ltd. Weifu Electric Drive Refers to Wuxi Weifu Electric Drive Technology Co., Ltd. Autosmart Seating Refers to Wuxi Weifu Autosmart Seating System Co., Ltd. SPV Refers to Weifu Holding ApS IRD Refers to IRD Fuel Cells A/S Borit Refers to Borit NV Weifu Environment Refers to Wuxi Weifu Environment Catalyst Co., Ltd. Weifu Precision Machinery Refers to Weifu Precision Machinery Manufacturing Co., Ltd. Zhonglian Electronic Refers to Zhonglian Automobile Electronic Co., Ltd. Shinwell Automobile Refers to Shinwell Automobile Technology (Wuxi) Co., Ltd. CSRC Refers to China Securities Regulatory Commission SZSE Refers to Shenzhen Stock Exchange Gongzheng Tianye Certified Public Accountants (Special General Gongzheng Tianye Refers to Partnership) The reporting period Refers to From 1 Jan. 2020 to 31 Dec. 2020 4 无锡威孚高科技集团股份有限公司 2020 年年度报告全文 Section II Company Profile and Main Financial Indexes I. Company information Short form of the stock WFHT, Su Weifu-B Stock code 000581, 200581 Stock exchange for listing Shenzhen Stock Exchange Name of the Company (in Chinese) 无锡威孚高科技集团股份有限公司 Short form of the Company (in Chinese) 威孚高科 Foreign name of the Company (if applicable) WEIFU HIGH-TECHNOLOGY GROUP CO.,LTD. Short form of foreign name of the Company (if applicable) WFHT Legal representative Wang Xiaodong Registrations add. No.5 Huashan Road, Xinwu District, Wuxi Code for registrations add 214028 Offices add. No.5 Huashan Road, Xinwu District, Wuxi Codes for office add. 214028 Company’s Internet Web Site http://www.weifu.com.cn E-mail Web @ weifu.com.cn II. Person/Way to contact Secretary of the Board Rep. of security affairs Name Zhou Weixing Yan Guohong Contact add. No.5 Huashan Road, Xinwu District, Wuxi No.5 Huashan Road, Xinwu District, Wuxi Tel. 0510-80505999 0510-80505999 Fax. 0510-80505199 0510-80505199 E-mail [email protected] [email protected] III. Information disclosure and preparation place Newspaper appointed for information disclosure China Securities Journal; Securities Times; Hong Kong Commercial Daily Website for annual report publish appointed by CSRC http://www.cninfo.com.cn Preparation place for annual report Office of the Board of Directors 5 无锡威孚高科技集团股份有限公司 2020 年年度报告全文 IV. Registration changes of the Company Organization code 91320200250456967N Changes of main business since No change listing (if applicable) Controlling shareholder of the Company was Weifu Group before 2009. and in 2009, controlling shareholder changed to Industry Group since 31 May 2009 due to the merged of Previous changes for controlling Industry Group and Weifu Group. Both Weifu Group and Industry Group were state-owned shareholders (if applicable) companies of Wuxi State-owned Assets Supervision & Administration Commission, therefore, actual controller of the Company turns to Wuxi State-owned Assets Supervision & Administration Commission of State Council. V. Other relevant information CPA engaged by the Company Name of CPA Gongzheng Tianye Certified Public Accountants (Special General Partnership) 10/F, No.5 Building, Jiakaicheng Fortune Center, Jingrong 3rd Street, Taihu Xincheng, Binghu Offices add. for CPA District, Wuxi, Jiangsu Province Signing Accountants Bai Lingjing, Zhang Qianqian Sponsor engaged by the Company for performing continuous supervision duties in reporting period □ Applicable √ Not applicable Financial consultant engaged by the Company for performing continuous supervision duties in reporting period □ Applicable √ Not applicable VI. Main accounting data and financial indexes Whether the Company is required to retrospectively adjust or restate prior year’s accounting data □ Yes √ No Changes over last 2020 2019 2018 year (+,-) Operation revenue (RMB) 12,883,826,306.60 8,784,356,960.30 46.67% 8,721,674,671.18 Net profit attributable to shareholders of the 2,772,769,377.96 2,268,026,432.78 22.25% 2,396,077,415.21 listed company(RMB) Net profit attributable to shareholders of the listed company after deducting non-recurring 2,089,986,086.10 1,947,408,959.68 7.32% 2,014,800,714.20 gains and losses(RMB) Net cash flows arising from operating activities 781,811,234.01 1,048,670,053.23 -25.45% 874,381,526.63 (RMB) Basic earnings per share (RMB/Share) 2.79 2.25 24.00% 2.37 6 无锡威孚高科技集团股份有限公司 2020 年年度报告全文 Diluted earnings per share (RMB/Share) 2.79 2.25 24.00% 2.37 Weighted average ROE 15.78% 13.77% 2.01% 15.48% Changes over end Year-end of 2020 Year-end of 2019 Year-end of 2018 of last year (+,-) Total assets (RMB) 27,350,695,388.21 23,958,348,185.78 14.16% 20,892,041,460.30 Net assets attributable to shareholder of listed 18,282,017,990.66 16,990,405,136.62 7.60% 15,913,828,778.82 company (RMB) The lower of the company’s net profit before or after deduction of non-recurring profit (gain)/loss for the last three financial years is negative, and the audit report for the latest year indicates that there is uncertainty about the company’s ability to continue as a going concern □Yes √No The lower of the net profit before or after deduction of non-recurring profit (gain)/loss is negative □Yes √No VII. Difference of the accounting data under accounting rules in and out