1. Fiscal year 2015 results: the group's main business income in 2015 was RMB 8.902 billion, up 4.13% from the same period last year; the comprehensive gross profit margin increased by 1.61% to 18.09%; the net profit attributed to shareholders of the company was 135 million yuan, down 19.31% from the same period last year; the net cash flow generated by operating activities was RMB 638 million yuan, with an increase of RMB 563 million yuan over the same period last year; and basic profit per share was 0.1359 yuan. The company pays a cash dividend of 0.41 yuan (including tax) for every 10 shares to all shareholders.

2. Agricultural machinery business: during the period, a total of 77000 units were sold, an increase of 4.2% over the same period last year, which was 3.7 percentage points higher than that of the industry. The cumulative sales of large wheel tractors were 42000, an increase of 23.5% over the same period last year, which was higher than that of the industry by 3.5%. Among them, the cumulative sales of large wheel tractors with more than 100 horsepower increased by 45% to 24000, and the sales of power shift tractors were more than 3000, an increase of more than six times. Affected by the large-scale direction of agricultural machinery subsidy funds and the upgrading of the market demand structure, China Shipping continued to decline, with total sales of 35000 units for the whole year, down 11.5% from the same period last year, but the decline was narrower than that in 2014. the sales of ferry towing continued to shrink, and the cumulative sales for the whole year fell by 47.5% year-on-year to more than 4000 units.

3. Power machinery business: during the period, thanks to the increase in sales of the company's high-power wheeled tractors and the market demand brought about by the upgrading and switching of off-road diesel engine emission standards, the company sold a total of 177000 diesel engine products, an increase of 12.6% over the same period last year. Among them, external sales reached 112000, an increase of 1.1% over the same period last year. 4. Financial and other business: the financial companies under the group can improve the efficiency of the use of funds by strengthening the centralized management of funds, and at the same time increase the rate of return on funds by carrying out appropriate investment activities, achieving a total profit of 106 million yuan for the whole year, an increase of 16.5% over the same period last year. In addition, during the period, the company continued to clean up and shrink forklifts, mining cards and other machinery business.

5. Export: during the period, the company exported more than 2400 sets of high-power tractors, an increase of 10.8% over the same period last year. Exports reached nearly 100 million US dollars, an increase of about 64 percent over the same period last year.

6. R & D team: the company's R & D team used to be the tractor research institute directly under the Ministry of first Machinery Industry, which was responsible for the design and research of power system and whole machine and the formulation of tractor industry standards. Now it is the R & D center of the company, with 450 R & D personnel. In addition, the company acquired the French company with power shift transmission technology in 2011, and the electronic control system will adjust the fuel supply of the diesel engine according to the working status of the equipment, which is also the development of software. the next development trend of the tractor is that the proportion of electronic control will be very large, the company will devote great efforts to the research and development of electronic control, and the R & D team will be about 100 people.

7. R & D expenditure: the company's annual R & D investment is about 350 million, and it will remain at this level this year.

8. Research and development direction: the company has more research and development in transmission. After the acquisition of the power shift transmission technology company, the company has now fully mastered the technology, and has fully and partially used the transmission technology on tractors with more than 90 horsepower. Last year, it sold 3400 sets and made a major breakthrough. The number of tractors using power shift technology is expected to reach 5300 this year. If the number reaches 10000 next year, the upgrading of tractor products will be completed. In the future, the company hopes that power shift technology can be used in all tractor series. In addition, in terms of power, according to national regulations, the sale of agricultural machinery of National second Power is not allowed after December 1 this year. After three years of research and development, the company's No. 3 diesel engine is at the forefront of the industry, and the agricultural machinery introduced to the market on April 1 is the third standard. The management judged that the Ministry of Environmental Protection is expected to switch to the national fourth standard diesel engine after October 1, 2018, so the company now spends a large portion of its research and development expenses on off-road diesel engines.

9. Performance forecast: with the structural changes, the sales volume of China trailer has declined, while the demand for large-scale and high-end tractors has increased. The company expects revenue to grow by about 4% in 2016, and with the increase in the proportion of high-horsepower agricultural machinery sales, the profitability of products will increase and profits will grow faster.

The production line of diesel engines with more than 10200 horsepower: the investment of the production line of heavy wheel towing is about 650 million, and the construction is basically completed by November 15. This production line has entered the production stage, with hundreds of units sold last year. The construction of the project plays an important role in improving the competitiveness of the company in the market.

11. State subsidy: the state subsidy for agricultural machinery is in the sales link, which is basically maintained at about 23 billion after 2013, and will not be increased in the future. The state encourages deep ploughing, encourages farmers to buy high-powered tractors, and subsidizes them in the direction of efficient and high-end guidance.

12. the decline of grain prices: the adjustment of planting structure is good for the industry, and the negative impact of the reduction of grain prices and farmers' income in some areas on the sales of agricultural machinery is temporary. With the optimization of the structure, the increase of farmers' income as a national priority protection item, there will still be stable and sustained growth in the future.

13. Summary and suggestions: the agricultural machinery industry is currently in a transitional period of deep adjustment, developing towards a large-scale and high-end trend as a whole, and the industry will continue to grow at a low speed in the short term. The company is at the front of the industry in product research and development, improving quality and efficiency, product structure adjustment, promoting transformation and upgrading, the competitiveness has been continuously improved, and the leading products are higher than the growth rate of the industry. Can be paid due attention to.