Revenue and Profitability - The company's revenue for Q1 2025 reached ¥2,278,166,335.81, representing a 97.30% increase compared to ¥1,154,685,836.57 in the same period last year[3] - The net profit attributable to shareholders was -¥155,847,073.58, a decline from -¥130,059,834.70 year-on-year[3] - The net loss for Q1 2025 was ¥161,740,719.96, worsening from a net loss of ¥142,557,872.36 in Q1 2024[18] - The gross profit margin for Q1 2025 was approximately -7.5%, down from a margin of -13.0% in Q1 2024[18] Cash Flow and Financial Position - The net cash flow from operating activities was -¥465,468,176.92, a significant decrease of 171.77% compared to ¥648,537,906.95 in the previous year[3] - Net cash flow from operating activities in Q1 2025 was negative at approximately -$465.47 million, compared to a positive cash flow of $648.54 million in Q1 2024[22] - The company's cash and cash equivalents increased to ¥3,650,084,028.43 from ¥2,918,703,772.52, reflecting a growth of approximately 25.1%[13] - The company's cash and cash equivalents at the end of Q1 2025 stood at approximately $818.87 million, down from $2.12 billion at the end of Q1 2024[23] Assets and Liabilities - Total assets increased by 6.42% to ¥18,810,595,808.23 from ¥17,676,221,687.15 at the end of the previous year[4] - The total liabilities increased to ¥13,386,282,012.35 in 2025 from ¥12,088,654,080.57 in 2024, marking an increase of approximately 10.7%[15] - The equity attributable to shareholders decreased to ¥5,460,148,557.22 in 2025 from ¥5,617,508,721.54 in 2024, a decline of approximately 2.8%[15] Research and Development - Research and development expenses totaled ¥65,143,066.00, accounting for 2.86% of revenue, down from 6.52% in the previous year[3] - Research and development expenses for Q1 2025 totaled ¥65,143,066.00, a decrease from ¥75,293,136.51 in Q1 2024, reflecting a reduction of about 13.5%[18] Shareholder Information - The total number of common shareholders at the end of the reporting period was 11,859[8] - The largest shareholder, Liu Shiqi, holds 29,475,240 shares, representing 23.37% of the total shares[8] - The top 10 shareholders hold a combined total of 61.56% of the company's shares[9] Inventory and Receivables - The sales volume of lithium iron phosphate increased by 138% compared to the same period last year, driving revenue growth[6] - The company experienced an increase in accounts receivable, leading to a significant rise in bank acceptance bills issued for raw material purchases[6] - The company's inventory increased to ¥1,324,904,449.64 from ¥943,677,657.71, marking a rise of approximately 40.4%[13] - The accounts receivable balance was reported at ¥2,201,910,889.58, compared to ¥2,043,167,258.18 in the previous period[13] Government Support - The company received government subsidies amounting to ¥9,195,848.86, which positively impacted its financial results[5] Share Buyback Program - The company plans to implement a share buyback program with a minimum investment of ¥8.6067 million and a maximum of ¥17.2133 million[10] - The company has not yet executed the share buyback plan through the Shanghai Stock Exchange as of the reporting date[11] - The company will continue to disclose updates regarding the share buyback plan as progress is made[11] Operating Costs - Total operating costs for Q1 2025 were ¥2,449,246,162.15, compared to ¥1,382,200,250.38 in Q1 2024, indicating an increase of about 77.4%[18]

Financial Performance - The company reported a net profit attributable to shareholders of the listed company for 2024 as negative, indicating no cash dividend distribution for the year[6]. - The board of directors has approved a proposal to not distribute profits or increase capital reserves due to the negative profit situation and current economic conditions[6]. - The company's operating revenue for 2024 was RMB 7,522,592,470, a decrease of 38.21% compared to RMB 12,174,195,086.96 in 2023[23]. - The net profit attributable to shareholders for 2024 was a loss of RMB 870,370,890.86, an improvement from a loss of RMB 1,503,629,794.50 in 2023[23]. - The cash flow from operating activities for 2024 was RMB 1,573,304,662.87, a significant increase compared to a negative cash flow of RMB -1,558,051,064.93 in 2023[23]. - The company's total assets at the end of 2024 were RMB 17,676,221,687.15, down 9.03% from RMB 19,431,769,993.78 at the end of 2023[24]. - The basic earnings per share for 2024 was -7.00 yuan, an improvement from -11.93 yuan in 2023[25]. - The company's operating profit was CNY -99,251.49 million, representing an increase in losses of CNY 72,801.13 million compared to the previous year[109]. - The net profit attributable to the parent company was CNY -87,037.09 million, a year-on-year increase in losses of CNY 63,325.89 million[109]. Revenue and Sales Growth - The company reported a significant increase in revenue, achieving a total of 1.5 billion yuan, representing a 25% year-over-year growth[13]. - User data indicates a growth in active users, reaching 3 million, which is a 15% increase compared to the previous quarter[14]. - The company provided a positive outlook for the next quarter, projecting a revenue increase of 20% based on current market trends[14]. - The cumulative shipment of lithium iron phosphate reached 228,200 tons, an increase of 39.07% year-on-year[38]. - The company produced 233,108.08 tons of lithium iron phosphate, a 50.51% increase year-on-year, while sales volume increased by 39.07% to 228,239.97 tons[117]. Research and Development - The company is investing 200 million yuan in research and development for sustainable energy solutions over the next two years[14]. - The research and development expenditure as a percentage of operating revenue was 3.42% in 2024, a slight decrease from 3.46% in 2023[25]. - The company has applied for 90 domestic invention patents and 136 international invention patents, obtaining 80 various intellectual property rights and 23 core technologies[44]. - The company has developed a new sodium-ion battery cathode composite material with a simple preparation process and good reproducibility, suitable for industrial production[72]. - The company is actively developing solid-state battery technology, which is expected to have a significant impact on the electric vehicle and energy storage markets due to its high energy density and safety features[61]. Market Expansion and Strategy - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of the fiscal year[14]. - A strategic acquisition of a local competitor was completed, which is anticipated to increase market penetration by 5%[14]. - The company is focusing on the development of lithium iron phosphate materials, which are increasingly favored in both the electric vehicle and energy storage sectors due to their cost-effectiveness and performance[54]. - The company is exploring potential mergers and acquisitions to enhance its market position and technological capabilities[180]. - The company plans to invest approximately RMB 5 billion in a research and technology center and industrialization base project in Qingshan District, Wuhan, focusing on lithium-ion, sodium-ion, solid-state batteries, and hydrogen storage materials[149]. Governance and Compliance - The company has not experienced any non-operating fund occupation by controlling shareholders or related parties[8]. - There are no special arrangements for corporate governance applicable to the company[8]. - The company has confirmed that all board members attended the board meeting, ensuring accountability for the report's accuracy[5]. - The company emphasizes strict compliance with laws and regulations regarding information disclosure, ensuring timely and accurate reporting of significant events to protect investors' rights[175]. - The company has established multiple communication channels for investor relations, enhancing transparency and maintaining good relationships with investors[175]. Operational Efficiency and Cost Management - The company implemented stronger sales management and cost control measures, contributing to a narrowing of losses in key financial metrics[26]. - The company has implemented cost reduction and efficiency enhancement measures, which have helped mitigate the impact of raw material price fluctuations on its financial performance[96]. - The company has introduced an intelligent warehousing management system to enhance inventory management and reduce risks[41]. - The company is focusing on lean production to improve efficiency and reduce costs, employing TQM to enhance product quality management[40]. - The company plans to expand its market presence and improve customer service quality through enhanced logistics and inventory management[117]. Future Outlook - Future guidance includes an expected EBITDA margin of 15% for the upcoming fiscal year, up from 12%[14]. - The company anticipates a gradual easing of the supply-demand relationship in the lithium-ion battery cathode materials industry, leading to improved capacity utilization rates[54]. - The company aims to achieve industry-leading levels in its R&D projects, focusing on enhancing product quality and performance[81]. - The company is committed to innovation and development in the lithium battery cathode materials sector, supported by favorable government policies and market demand[50]. - The company is focusing on enhancing the knowledge and skills of its R&D personnel through specialized training programs[180].

| | | | 一、审计报告……………………………………………………… 第 | 1—6 页 | | --- | --- | | 二、财务报表……………………………………………………… 第 | 7—14 页 | | （一）合并资产负债表…………………………………………… | 第 7 页 | | （二）母公司资产负债表………………………………………… | 第 8 页 | | （三）合并利润表………………………………………………… | 第 9 页 | | （四）母公司利润表………………………………………………第 | 10 页 | | （五）合并现金流量表……………………………………………第 | 11 页 | | （六）母公司现金流量表…………………………………………第 | 12 页 | | （七）合并所有者权益变动表……………………………………第 | 13 页 | | （八）母公司所有者权益变动表…………………………………第 | 14 页 | | 三、财务报表附注……………………………………………… 第 15—118 | 页 | | 四、附件…………………………………………………………第 119—123 | 页 | ...

关于湖北万润新能源科技股份有限公司 部分募投项目结项并将节余募集资金永久补充流动资金的 核查意见 东海证券股份有限公司（以下简称"东海证券"或"保荐机构"）作为湖北 万润新能源科技股份有限公司（以下简称"万润新能"或"公司"）首次公开发 行股票并上市持续督导保荐机构，根据《证券发行上市保荐业务管理办法》《上 海证券交易所科创板股票上市规则》及《上海证券交易所科创板上市公司自律监 管指引第 1 号——规范运作》等有关规定的要求，对万润新能部分募投项目结项 并将节余募集资金永久补充流动资金事项进行了核查，具体情况如下： 东海证券股份有限公司 一、募集资金基本情况 根据中国证券监督管理委员会《关于同意湖北万润新能源科技股份有限公司 首次公开发行股票注册的批复》（证监许可〔2022〕1635 号），中国证券监督 管理委员会同意公司首次公开发行股票的注册申请。经上海证券交易所同意，公 司首次向社会公开发行人民币普通股（A 股）股票 2,130.3795 万股，本次发行价 格为每股人民币 299.88 元，募集资金总额为人民币 638,858.20 万元，扣除发行 费用人民币（不含增值税）24,295.94 万元后，实际 ...

东海证券股份有限公司 （二）募集资金使用和结余情况 关于湖北万润新能源科技股份有限公司 2024 年度募集资金存放与使用情况的专项核查意见 东海证券股份有限公司（以下简称"东海证券"或"保荐机构"）作为湖北 万润新能源科技股份有限公司（以下简称"万润新能"或"公司"）首次公开发 行股票并上市持续督导保荐机构，根据《证券发行上市保荐业务管理办法》《上 市公司监管指引第 2 号——上市公司募集资金管理和使用的监管要求》《上海证 券交易所科创板股票上市规则》及《上海证券交易所科创板上市公司自律监管指 引第 1 号——规范运作》等有关规定的要求，对万润新能 2024 年度募集资金存 放与使用情况进行了核查，具体情况如下： 一、募集资金基本情况 （一）实际募集资金金额和资金到账时间 根据中国证券监督管理委员会《关于同意湖北万润新能源科技股份有限公司 首次公开发行股票注册的批复》（证监许可〔2022〕1635号），中国证券监督管 理委员会同意公司首次公开发行股票的注册申请。经上海证券交易所同意，公司 首次向社会公开发行人民币普通股（A股）股票2,130.3795万股，本次发行价格 为每股人民币299.88元，募集资金总额 ...

目 录 | 一、内部控制审计报告 …………………………………………… 第 | 1—2 | | 页 | | --- | --- | --- | --- | | 二、附件………………………………………………………………第 | | 3—7 | 页 | | （一）本所营业执照复印件…………………………………………第 | | 3 | 页 | | （二）本所执业证书复印件…………………………………………第 | | 4 | 页 | | （三）本所从事证券服务业务备案完备证明材料…………………第 | | 5 | 页 | | （四）本所签字注册会计师证书复印件…………………………第 | | 6-7 | 页 | 四、财务报告内部控制审计意见 内部控制审计报告 天健审〔2025〕9320 号 湖北万润新能源科技股份有限公司全体股东： 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求，我 们审计了湖北万润新能源科技股份有限公司（以下简称万润新能公司）2024 年 12 月 31 日的财务报告内部控制的有效性。 一、企业对内部控制的责任 按照《企业内部控制基本规范》《企业内部控制应用指引》以及《企业内部 控制评价指引》的 ...

东海证券股份有限公司 调整商品期货期权套期保值业务的核查意见 东海证券股份有限公司（以下简称"东海证券"或"保荐机构"）作为湖北 万润新能源科技股份有限公司（以下简称"万润新能"或"公司"）首次公开发 行股票并上市持续督导保荐机构，根据《证券发行上市保荐业务管理办法》及《上 海证券交易所科创板股票上市规则》《上海证券交易所上市公司自律监管指引第 5 号——交易与关联交易》等有关规定的要求，对万润新能调整商品期货期权套 期保值业务事项进行了核查，具体情况如下： 一、开展商品期货期权套期保值业务概述 （一）商品期货期权套期保值业务的目的 公司主要从事锂离子动力电池和储能电池的正极材料及其前驱体的生产，涉 及主要原材料为碳酸锂等锂盐产品，锂盐产品采购成本占生产成本比例较大，锂 盐产品的价格波动对公司成本管控造成较大影响，为应对和控制锂盐产品现货市 场价格波动给公司生产经营带来的风险和影响，综合考虑公司原材料采购规模及 套期保值业务的预期成效等因素，在保证正常生产经营的前提下，公司及子公司 开展商品期货期权套期保值业务，不以投机和套利交易为目的，通过套期保值的 避险机制有效控制原材料价格波动风险敞口，提升公司抵御原材 ...

目 录 一、非经营性资金占用及其他关联资金往来情况的专项 审计说明…………………………………………………………第 1—2 页 二、非经营性资金占用及其他关联资金往来情况汇总表………………第 3 页 | 三、附件………………………………………………………………第 | 4—8 页 | | --- | --- | | （一）本所营业执照复印件…………………………………………第 | 4 页 | | （二）本所执业证书复印件…………………………………………第 | 5 页 | | （三）本所从事证券服务业务备案完备证明材料…………………第 | 6 页 | | （四）本所签字注册会计师证书复印件…………………………第 | 7-8 页 | 非经营性资金占用及其他关联资金往来情况的 专项审计说明 天健审〔2025〕9322 号 湖北万润新能源科技股份有限公司全体股东： 我们接受委托，审计了湖北万润新能源科技股份有限公司（以下简称万润新 能公司）2024 年度财务报表，包括 2024 年 12 月 31 日的合并及母公司资产负债 表，2024 年度的合并及母公司利润表、合并及母公司现金流量表、合并及母公 司所有者权益变动表，以及 ...

东海证券股份有限公司 关于湖北万润新能源科技股份有限公司 2025 年度公司及子公司向金融机构申请综合授信及提供相 关担保的核查意见 东海证券股份有限公司（以下简称"东海证券"或"保荐机构"）作为湖北 万润新能源科技股份有限公司（以下简称"万润新能"或"公司"）首次公开发 行股票并上市持续督导保荐机构，根据《证券发行上市保荐业务管理办法》《上 海证券交易所科创板股票上市规则》及《上海证券交易所科创板上市公司自律监 管指引第 1 号——规范运作》等有关规定的要求，对万润新能 2025 年度公司及 子公司向金融机构申请综合授信及提供相关担保事项进行了核查，具体情况如下： 一、申请综合授信及相关担保事项概述 为满足公司日常生产经营和业务发展的资金需求，确保公司持续发展，公司 及合并报表范围的子公司（含授权期限内新设立或纳入合并范围的全资子公司、 控股子公司）拟向银行等金融机构申请总额不超过人民币 1,051,000 万元的综合 授信额度（不包括低风险业务额度），授信形式包括但不限于本外币借款、信用 证、银行承兑汇票、保理、保函、融资租赁等授信业务。本次授信额度的有效期 自公司2024年年度股东大会审议通过之日起至2 ...