Financial Performance - The company's operating revenue for Q1 2025 was CNY 367.30 million, a 1.20% increase compared to CNY 362.94 million in the same period last year[8]. - Net profit attributable to shareholders decreased by 18.21% to CNY 44.89 million from CNY 54.89 million year-on-year[8]. - Total operating revenue for Q1 2025 was CNY 367,302,485.85, a slight increase from CNY 362,943,937.70 in Q1 2024, representing a growth of approximately 0.99%[30]. - Net profit for Q1 2025 was CNY 44,790,585.69, down from CNY 54,860,753.26 in Q1 2024, reflecting a decrease of approximately 18.38%[31]. - The company’s total comprehensive income for Q1 2025 was CNY 44,790,585.69, compared to CNY 54,860,753.26 in Q1 2024, indicating a decline of approximately 18.38%[32]. - Basic and diluted earnings per share for Q1 2025 were both CNY 0.37, compared to CNY 0.46 in Q1 2024, showing a decline of about 19.57%[32]. Research and Development - R&D investment totaled CNY 45.77 million, representing a 53.59% increase from CNY 29.80 million in the previous year, accounting for 12.46% of operating revenue[8]. - Research and development expenses increased significantly to CNY 45,773,489.73 in Q1 2025 from CNY 29,801,566.22 in Q1 2024, marking a rise of approximately 53.54%[30]. - The company launched several new chip series, including the BT897X and BT891X, which feature advanced audio capabilities and low power consumption, enhancing market competitiveness[10]. - The company plans to expand its product lines from eight to ten, including new categories such as AIoT chips and video chips, to enhance market presence[11]. Cash Flow and Investments - The net cash flow from operating activities was negative CNY 115.68 million, a significant decrease of 1,186.25% compared to a positive CNY 10.65 million in the same period last year[8][16]. - Cash inflow from investment activities in Q1 2025 was $1.01 billion, compared to $83.34 million in Q1 2024, indicating a substantial increase[37]. - The total cash and cash equivalents at the end of Q1 2025 amounted to $157.21 million, a decrease from $1.20 billion at the end of Q1 2024[37]. - Total cash outflow from investment activities in Q1 2025 was $1.04 billion, compared to $528.85 million in Q1 2024, reflecting increased investment expenditures[37]. - The cash flow from operating activities was impacted by a total cash outflow of $517.22 million in Q1 2025, compared to $398.22 million in Q1 2024[36]. Assets and Liabilities - Total assets increased by 1.99% to CNY 4.63 billion from CNY 4.54 billion at the end of the previous year[10]. - Total current assets as of March 31, 2025, amount to ¥4,149,380,196.01, a decrease from ¥4,223,067,522.18 as of December 31, 2024[24]. - Total liabilities as of the reporting date were CNY 579,640,630.96, compared to CNY 535,765,470.73 in the previous period, an increase of about 8.19%[27]. - Total equity increased to CNY 4,049,471,813.55 from CNY 4,002,827,348.04, reflecting a growth of approximately 1.16%[27]. - The company has a long-term equity investment of ¥50,500,000.00, unchanged from the previous period[25]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 14,987[18]. - The largest shareholder, Huang Zhiqiang, holds 31,643,214 shares, accounting for 26.30% of total shares[18]. - Zhuhai Zhongke Lanyun Technology Partnership holds 15,068,197 shares, representing 12.52% of total shares[18].

Financial Performance - The company's operating revenue for Q1 2025 was ¥191,951,815.38, representing a 4.94% increase compared to ¥182,922,481.69 in the same period last year[4] - The net profit attributable to shareholders was -¥115,452,483.95, a decrease of 71.41% from -¥67,353,495.40 year-over-year[4] - The basic and diluted earnings per share were both -¥0.57, a decline of 72.73% compared to -¥0.33 in the same period last year[4] - The weighted average return on equity was -1.75%, down from -0.91% year-over-year[4] - Net loss for Q1 2025 was CNY 120,770,122.94, compared to a net loss of CNY 69,955,283.74 in Q1 2024, representing an increase in loss of 72.6%[20] - Operating profit for Q1 2025 was CNY -123,486,375.38, worsening from CNY -67,454,742.43 in Q1 2024[19] - The company reported a total comprehensive loss of CNY -128,591,327.44 for Q1 2025, compared to CNY -78,308,185.85 in Q1 2024[20] Cash Flow - The net cash flow from operating activities improved by 74.38%, reaching -¥54,288,610.17, compared to -¥211,864,976.91 in the previous year[4] - Operating cash inflow totaled $276,022,567.96, an increase from $228,718,943.11 in the previous period, reflecting a growth of approximately 20.8%[24] - Cash inflow from investment activities reached $1,466,438,459.32, significantly higher than $539,083,927.86 in the prior period, marking an increase of about 172.6%[25] - Cash inflow from financing activities amounted to $239,000,000.00, up from $105,960,000.00, representing an increase of approximately 125%[25] - The ending cash and cash equivalents balance was $1,038,630,348.81, down from $2,595,292,577.44 year-over-year[25] Assets and Liabilities - Total assets decreased by 4.14% to ¥7,759,161,951.63 from ¥8,094,580,246.54 at the end of the previous year[5] - The company reported a total current assets of RMB 3,583,909,471.49 as of March 31, 2025, down from RMB 3,978,764,707.92 at the end of 2024, representing a decrease of approximately 9.9%[14] - Total liabilities decreased to CNY 1,094,430,122.43 in Q1 2025 from CNY 1,303,147,089.90 in Q1 2024, a decline of 15.9%[16] - The company's total equity decreased to CNY 6,664,731,829.20 in Q1 2025 from CNY 6,791,433,156.64 in Q1 2024, a decrease of 1.9%[16] Research and Development - Research and development expenses totaled ¥58,725,780.47, accounting for 30.59% of operating revenue, down from 39.34% in the previous year[5] - Research and development expenses for Q1 2025 were CNY 58,725,780.47, down 18.3% from CNY 71,964,517.95 in Q1 2024[19] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 13,778[9] - The top three shareholders collectively hold 48.56% of the company's shares, with Anji Fulanglai holding 19.5%, Fangs Holdings Limited at 18.75%, and Anji Yongwei at 10.31%[11] - The company has not reported any changes in the participation of major shareholders in margin trading or securities lending activities[12] Legal Matters - The company is currently facing a lawsuit from FS Medical Supplies, LLC, claiming damages not less than USD 1 billion, along with additional compensatory damages of at least USD 250 million[12] - The company has engaged legal counsel to respond to the lawsuit and is also pursuing legal action against FS Medical Supplies, LLC in China[13] - As of the report date, the lawsuit has not impacted the company's financial results for the reporting period[13] Inventory and Receivables - Cash and cash equivalents decreased to RMB 2,604,809,193.17 from RMB 3,081,496,804.80, reflecting a decline of about 15.4%[14] - Accounts receivable decreased to RMB 191,096,239.50 from RMB 228,082,280.19, a reduction of about 16.2%[14] - Inventory decreased slightly to RMB 296,948,644.63 from RMB 308,960,712.66, indicating a decrease of around 3.9%[14]

Financial Performance - The company reported a negative cumulative undistributed profit for the year 2024, thus no cash dividends or stock bonuses will be distributed [6]. - The company’s operating revenue for 2024 was approximately ¥948.57 million, a decrease of 0.60% compared to ¥954.27 million in 2023 [25]. - The net profit attributable to shareholders of the listed company for 2024 was approximately -¥726.50 million, representing a decline of 193.37% from -¥247.64 million in 2023 [26]. - The basic earnings per share for 2024 was -¥4.58, a decrease of 148.91% compared to -¥1.84 in 2023 [27]. - The company's total assets at the end of 2024 were approximately ¥2.89 billion, a decrease of 26.36% from ¥3.92 billion at the end of 2023 [26]. - The net cash flow from operating activities for 2024 was approximately -¥505.54 million, a significant decrease compared to ¥148.13 million in 2023 [26]. - The company’s gross profit margin decreased due to market environment changes, intensified industry competition, and increased depreciation expenses from newly completed projects [77]. - The company reported a significant increase in revenue, reaching 1.2 billion CNY, representing a 25% year-over-year growth [17]. - The company achieved operating revenue of 948.57 million yuan, a year-on-year decrease of 0.60% [93]. - The company reported a revenue increase of 15% year-over-year, reaching 1.2 billion RMB in the last quarter [144]. Operational Challenges - The company faces risks of declining gross margins and potential continuous losses due to market environment changes and raw material price fluctuations [4]. - The company has not achieved profitability since its listing, which raises concerns for investors [4]. - The company experienced a decline in gross margin due to falling average selling prices and increased inventory impairment provisions [27]. - The company faced increased competition and inventory destocking, impacting its financial performance negatively [27]. - The company has a high level of accounts receivable, which poses a risk of bad debts if major customers face financial difficulties [86]. - The company has a significant amount of inventory, which may lead to losses if market prices decline [86]. - The company is exposed to intensified market competition in the precursor materials sector, which may adversely affect market share and profitability [88]. - The company faces risks of continuous losses due to intensified market competition and fluctuations in raw material prices [78]. Research and Development - The company is investing heavily in R&D, with a budget increase of 15% to enhance battery technology [16]. - Research and development expenses accounted for 8.85% of operating revenue in 2024, an increase of 3.53 percentage points from 5.32% in 2023 [27]. - Research and development expenses increased by 65.34% year-on-year, totaling 83.94 million yuan, with 17 new invention patents granted during the reporting period [40]. - The company has established a research and development system that emphasizes independent innovation and collaboration with academic institutions to drive technological advancements in battery materials [42]. - The company’s R&D strategy includes a three-tier system: basic research, small-scale testing, and pilot testing, aimed at transforming research outcomes into market-ready products [44]. - The company is focusing on high-end power battery development trends, particularly in single crystal, high nickel, and high voltage ternary materials [55]. - The company has developed a controllable technology for lithium-ion diffusion rate, enhancing cycle stability and rate performance of the materials [61]. - The company has successfully completed small-scale tests for multiple oxide solid-state electrolytes and is advancing the development of lithium supplement agents and sulfide solid-state electrolytes [61]. Market Expansion and Strategy - The company plans to expand its production capacity with projects including a 25,000-ton ternary precursor project and a 15,000-ton ternary precursor project in Zhejiang [14]. - Market expansion plans include entering two new international markets by Q3 2024 [17]. - The company is exploring potential acquisitions to strengthen its supply chain, targeting a deal valued at approximately 500 million CNY [17]. - The company aims to increase production capacity by 40% to meet rising demand for electric vehicles [17]. - The company is actively pursuing market expansion by deepening cooperation with existing customers and capturing market opportunities related to popular vehicle models [38]. - The company aims to enhance its market share in high-end products by leveraging its existing advantages in single crystal materials and expanding production capacity [127]. - The company is exploring potential acquisitions to enhance its product portfolio, with a budget of $100 million allocated for this purpose [149]. Governance and Compliance - The company has held a total of 5 shareholder meetings and 8 board meetings during the reporting period, ensuring compliance with governance regulations [134]. - The company has established specialized committees within the board to leverage expertise in major decision-making processes [135]. - The company maintains independent operations and decision-making capabilities, ensuring compliance with relevant laws and regulations [136]. - The company has been under scrutiny from regulatory bodies, which may impact its market reputation and operations moving forward [159]. - The internal control audit report received a negative opinion, indicating areas for improvement in governance and compliance [186]. - The company’s independent directors have fulfilled their responsibilities and ensured the protection of minority shareholders' rights [179]. Environmental and Social Responsibility - The company is committed to ESG principles, focusing on sustainable development and environmental protection in its operations [187]. - The company has established a professional environmental and safety team to oversee compliance with environmental regulations and enhance resource utilization efficiency [187]. - The company has made significant investments in clean production and resource utilization projects to enhance sustainability [196]. - The company has implemented a comprehensive environmental monitoring plan with third-party services to ensure compliance [198]. - The company has established an environmental protection mechanism and invested 6,536,840.06 yuan in environmental protection during the reporting period [191]. - The company emphasizes investor relations and aims to protect the rights of minority shareholders while implementing a dividend policy to share growth with investors [187]. Shareholder and Management Information - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to 6.4771 million RMB [156]. - The total remuneration for core technical personnel at the end of the reporting period was 0.7110 million RMB [156]. - The company has established a remuneration and assessment committee to review the remuneration proposals for directors and senior management [156]. - The company has a total of 381 employees, with 204 in production, 87 in technical roles, and 74 in administrative positions [172]. - The company has a total of 2,856,000 shares held by its directors and senior management, with no changes in shareholding during the reporting period [141].

Financial Performance - The company reported a revenue of 1.2 billion RMB for the fiscal year 2023, representing a year-over-year growth of 15%[24]. - The company's operating revenue for 2024 reached ¥1,112,249,605.01, representing a year-on-year increase of 20.35% compared to ¥924,162,219.59 in 2023[25]. - Net profit attributable to shareholders for 2024 was ¥172,012,580.70, up 28.49% from ¥133,867,215.83 in 2023[25]. - The total profit for the period was 192.66 million RMB, up 27.89% compared to the previous year[39]. - The overall gross margin increased by 2.03 percentage points, driven by high capacity utilization and an improved product mix[40]. - The gross margin for the last quarter was reported at 40%, an improvement from 35% in the previous quarter[24]. - The company achieved a revenue of 500 million in the latest quarter, reflecting a growth of 15% year-over-year[98]. - The company reported total revenue of 7,590.00 million RMB for the current period, an increase from 5,322.77 million RMB in the previous period[101]. Research and Development - The company is investing 100 million RMB in R&D for AI chip technology, aiming to capture the growing demand in the AI sector[24]. - The R&D expenditure as a percentage of operating revenue decreased to 4.89% in 2024 from 5.30% in 2023, reflecting a reduction of 0.41 percentage points[26]. - The company’s R&D investment reached CNY 54.34 million, an increase of 11.00% year-on-year, accounting for 4.89% of total revenue[90]. - The company applied for 14 invention patents, 23 utility model patents, and 6 software copyrights during the reporting period, with 22 new intellectual property rights granted[91]. - The company is focusing on R&D investment to fill the technological gap in PSM products and gradually achieve domestic substitution of high-end masks, which is beneficial for long-term development[106]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a market share increase of 10% within the next two years[24]. - A strategic acquisition of a local semiconductor firm is in progress, which is anticipated to add 200 million RMB in annual revenue[24]. - The company is exploring partnerships with tech firms to enhance its product offerings and expand its technological capabilities[98]. - The company is actively pursuing mergers and acquisitions to strengthen its market position and diversify its portfolio[176]. - The company plans to enhance its marketing strategy by maintaining close communication with major clients and expanding its customer base in both flat panel display and semiconductor sectors[157]. Corporate Governance - The board of directors and supervisory board members have confirmed the authenticity, accuracy, and completeness of the annual report[3]. - The company has not violated decision-making procedures for providing guarantees[11]. - The company has established a governance structure including a board of directors, supervisory board, and management team to enhance decision-making efficiency and professionalism[161]. - All proposals at the recent shareholder meetings were approved without any objections, indicating strong shareholder support[163]. - The company has maintained compliance with all relevant corporate governance regulations without any significant discrepancies[161]. Financial Management - The company plans to distribute a cash dividend of RMB 1.70 per 10 shares, totaling RMB 53,223,018.77, which accounts for 30.94% of the net profit attributable to the parent company for 2024[7]. - The total debt-to-equity ratio improved to 0.5, indicating a stronger financial position compared to the previous quarter[172]. - The company has established a cash dividend policy that considers reasonable returns to investors and aims for continuity and stability in profit distribution[200]. - The company has not faced any penalties from securities regulatory agencies in the past three years[181]. Operational Efficiency - The company is enhancing its operational efficiency by integrating resources between Shenzhen Qingyi and Hefei Qingyi, focusing on the flat panel display mask plate market[48]. - The implementation of a remote control system in the production line has improved operational efficiency by 25%[99]. - The company is focused on optimizing its talent structure and attracting high-level professionals to support its strategic development[158]. - The company is committed to reducing raw material costs and improving product quality by expanding its upstream supply chain capabilities[156]. Risk Management - The company faces risks related to high financial leverage, which could impact its debt repayment ability and increase operational risks if market conditions change[113]. - The company is exposed to risks from market competition and potential changes in the downstream flat panel display industry, which could affect demand for its products[114]. - The company is actively addressing the rising costs of raw materials due to currency fluctuations and is working closely with customers to manage price increases[47]. - The company is exposed to potential risks from U.S. export controls on semiconductor technology impacting its market development[116]. Product Development - New product development includes the launch of a next-generation photomask technology, expected to enhance production efficiency by 30%[24]. - The company has achieved mass production of 180nm process node semiconductor mask plates and small-scale production of 150nm process node mask plates, while actively developing PSM and OPC mask plates for 130nm to 65nm process nodes[51]. - The company is actively pursuing new product development, including high-precision mask technologies for advanced semiconductor processes[83]. - The company plans to enhance its production capacity for AMOLED and HTM mask plates, focusing on high-end product development[46].

Financial Performance - The company's revenue for 2024 was CNY 510,900,037.23, a decrease of 6.74% compared to CNY 547,836,199.48 in 2023[22]. - The net profit attributable to shareholders for 2024 was CNY -191,004,566.74, representing a significant decline of 760.40% from CNY 28,922,432.95 in 2023[22]. - The net cash flow from operating activities for 2024 was CNY -37,162,581.27, an improvement of 23.43% compared to CNY -48,531,914.50 in 2023[22]. - The total assets at the end of 2024 were CNY 3,325,861,626.00, down 6.88% from CNY 3,571,517,927.61 at the end of 2023[23]. - The basic earnings per share for 2024 was CNY -2.12, a decrease of 742.42% from CNY 0.33 in 2023[23]. - The gross profit margin for 2024 was 55.36%, a decrease of 1.77 percentage points compared to 2023[175]. - The company reported a net loss of CNY 150.37 million in Q4 2024, with a total revenue of CNY 124.74 million for the same quarter[29]. - The company achieved operating revenue of 510.90 million yuan, a year-on-year decrease of 6.74%[171]. - The net profit attributable to the parent company was CNY -191.00 million, a year-on-year decline of 760.40%[171]. Research and Development - The company invested a total of 113.31 million yuan in R&D for 2024, accounting for 22.18% of its revenue[51]. - The R&D expenditure as a percentage of revenue for 2024 was 22.18%, a decrease of 2.08 percentage points from 24.26% in 2023[23]. - The company has developed a proprietary GlyExo-Capture® platform for liquid biopsy, achieving significant breakthroughs in glycan chain abnormal protein capture and exosome detection technologies, with international and domestic patents obtained[140]. - The company has established the "X-Gen AI Drug Discovery and Design Research Center" to accelerate drug development using advanced AI technologies[50]. - The company has undertaken a total of 12 new and ongoing research projects, including 5 national key R&D projects under the "14th Five-Year Plan"[55]. - The company has published over 20 original research papers in top-tier journals like Nature and Cell, showcasing its leading position in the in vitro diagnostics industry[152]. - The company has developed a breakthrough liver-targeted delivery technology platform, which is expected to provide broader treatment strategies for liver-targeted diseases[151]. Market and Competitive Landscape - The company operates in a highly competitive in vitro diagnostic industry, where rapid technological advancements and product updates pose risks to maintaining market competitiveness[166]. - The in vitro diagnostic industry is experiencing intensified competition, with both domestic and international players vying for market share, which could negatively impact the company's market position and profitability[168]. - The global in vitro diagnostic (IVD) market is projected to reach $118 billion in 2024, with the non-COVID IVD market growing at a rate of 6.2%[86]. - The domestic IVD industry is undergoing structural changes, with the localization rate of upstream raw materials increasing to 35%[87]. - The company is focusing on innovative drug development, leveraging AI to enhance the efficiency of antibody and nucleic acid drug pipelines[81]. Corporate Governance and Compliance - The company has not faced any non-operational fund occupation by controlling shareholders or related parties[8]. - There are no violations of decision-making procedures regarding external guarantees[9]. - The board of directors and supervisory board members have confirmed the accuracy and completeness of the annual report[3]. - The company has not achieved profitability since its listing[3]. - The company has committed to improving internal governance and control systems, ensuring timely and accurate information disclosure to investors[60]. Risks and Challenges - The company faces risks related to the failure of innovative drug development, particularly during clinical trials, which could significantly impact future growth and investment expectations[161]. - The pricing of diagnostic products is subject to government policies and market competition, which may lead to price declines if the company fails to innovate and introduce new products[165]. - The company must continuously upgrade its products to meet market demands; failure to do so could adversely affect future revenue growth and profitability[162]. - Future R&D investments are expected to increase further due to the acceleration of clinical projects in associated companies, which may lead to additional investment losses for the company[160]. Product Development and Innovations - The company has developed a liver cancer risk warning model (C-GALAD) that outperforms two major international models, aiding in early liver cancer diagnosis[41]. - The company has established a digital intelligent diagnosis model for liver disease risk warning, integrating clinical data with AI algorithms[67]. - The company has launched the "GlyExo-Capture® exosome rapid separation system" and the "EXO-01 exosome microRNA automatic detection instrument," marking significant advancements in exosome extraction automation[115]. - The company has received clinical trial approvals for the SGC001 project from both the FDA and the CDE, aimed at treating acute myocardial infarction patients[113]. - The company has developed a comprehensive STAT testing solution for emergency diagnostics, achieving a new breakthrough in chemiluminescence testing with a throughput of 600 tests per hour[42]. Financial Health and Investments - The company's total foreign assets amounted to 9,059,558.81 RMB, representing 0.27% of the total assets[200]. - The company's undistributed profits decreased to 2,737,758,221.52 RMB, reflecting a decline of 7.07% compared to the previous period[200]. - The company incurred an investment loss of CNY 43.61 million from its joint ventures, which increased R&D spending in innovative drug and early cancer screening fields[25]. - The company recognized impairment losses of CNY 83.12 million during the reporting period due to intensified competition in the industry[25].

Revenue Performance - Revenue for Q1 2025 was CNY 63,339,962.76, a decrease of 43.13% compared to CNY 111,382,482.48 in the same period last year[4] - Total revenue for Q1 2025 was CNY 63,339,962.76, a decrease of 43.1% compared to CNY 111,382,482.48 in Q1 2024[16] - Total operating costs for Q1 2025 were CNY 62,600,628.73, down 66.7% from CNY 187,332,029.36 in Q1 2024[16] Profitability - Net profit attributable to shareholders increased by 138.55% to CNY 23,595,895.17 from CNY 9,891,496.09 year-on-year[4] - Net profit for Q1 2025 reached CNY 24,879,667.86, compared to CNY 10,697,584.09 in Q1 2024, representing an increase of 132.5%[17] - Basic and diluted earnings per share rose to CNY 0.08, reflecting a 166.67% increase from CNY 0.03 in the previous year[4] - Basic and diluted earnings per share for Q1 2025 were both CNY 0.08, up from CNY 0.03 in Q1 2024[17] Cash Flow - The net cash flow from operating activities improved significantly, with a net outflow of CNY 17,526,663.30 compared to CNY 49,777,576.25 in the same period last year[4] - Cash inflow from operating activities for Q1 2025 was $75,151,358.63, down 57.5% from $177,134,783.83 in Q1 2024[19] - Net cash flow from operating activities was -$17,526,663.30, an improvement from -$49,777,576.25 in the previous year[20] - Cash inflow from investment activities totaled $357,990,518.55, significantly up from $110,285,578.84 in Q1 2024[20] - Net cash flow from investment activities was $252,010,726.19, compared to -$202,907,913.28 in the same quarter last year[20] - Cash inflow from financing activities was $141,806,960.84, down 66.4% from $422,050,000.00 in Q1 2024[20] - Net cash flow from financing activities was -$67,554,922.68, a decline from $110,329,154.84 in the previous year[20] - The net increase in cash and cash equivalents for Q1 2025 was $166,929,140.21, compared to a decrease of $142,356,334.69 in Q1 2024[21] - The ending balance of cash and cash equivalents was $266,710,285.87, slightly down from $270,573,241.18 in the previous year[21] Assets and Liabilities - Total assets decreased by 60.25% to CNY 1,257,717,677.11 from CNY 3,164,052,059.39 at the end of the previous year[5] - Total assets decreased to CNY 1,257,717,677.11 as of March 31, 2025, down from CNY 3,164,052,059.39 at the end of 2024[13] - Total liabilities decreased to CNY 428,139,147.95 as of March 31, 2025, compared to CNY 2,359,264,396.45 at the end of 2024[14] Operational Efficiency - The weighted average return on equity improved to 2.91%, an increase of 2.01 percentage points from 0.90%[5] - The company reported a significant reduction in research and development expenses to CNY 6,851,435.86 in Q1 2025 from CNY 15,448,941.63 in Q1 2024, a decrease of 55.7%[16] - The company is focusing on improving operational efficiency and reducing costs in response to the significant decline in revenue[16] Business Strategy - The company successfully exited the photovoltaic business in January 2025, which significantly improved profitability in its core medical business[7] - The company reported a significant reduction in cash outflows related to operating activities following the disposal of the photovoltaic subsidiary[7] - The company has ongoing projects in data resource development, with capitalized development expenditures of CNY 107,931,887.36 as of March 31, 2025[12] - The company has not disclosed any new product developments or market expansion strategies in this report[11] Accounting Standards - The company did not apply new accounting standards for the year 2025[22]

Revenue and Profitability - Revenue for Q1 2025 reached ¥149,496,795.19, an increase of 29.02% compared to ¥115,874,580.90 in the same period last year[4] - Net profit attributable to shareholders was a loss of ¥15,992,072.74, an improvement from a loss of ¥23,558,978.49 year-on-year[4] - Total operating revenue for Q1 2025 reached ¥149,496,795.19, a 29.0% increase from ¥115,874,580.90 in Q1 2024[18] - Net loss for Q1 2025 was ¥16,019,043.08, an improvement from a net loss of ¥24,948,683.53 in Q1 2024[19] - The total comprehensive loss for Q1 2025 was ¥15,967,321.13, an improvement from a loss of ¥24,549,913.32 in Q1 2024[19] - The company reported a basic and diluted earnings per share of -¥0.04 for Q1 2025, compared to -¥0.06 in Q1 2024[19] Cash Flow and Investments - Operating cash flow decreased by 36.76% to ¥15,764,454.78 from ¥24,929,911.36 in the previous year[4] - Cash flow from operating activities generated ¥15,764,454.78 in Q1 2025, down from ¥24,929,911.36 in Q1 2024[21] - Cash flow from investing activities showed a net outflow of ¥90,123,637.57 in Q1 2025, compared to a net outflow of ¥182,875,917.07 in Q1 2024[22] - Cash flow from financing activities generated a net inflow of ¥68,411,055.55 in Q1 2025, down from ¥118,568,697.04 in Q1 2024[22] - The ending cash and cash equivalents balance for Q1 2025 was ¥86,488,506.08, slightly up from ¥85,372,651.19 in Q1 2024[22] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,050,703,579.19, a slight increase of 0.40% from ¥3,038,469,699.24 at the end of the previous year[5] - The company's current assets decreased to RMB 373,431,863.24 from RMB 412,152,468.02, representing a decline of about 9.4%[13] - The total liabilities increased to RMB 1,660,845,944.59 from RMB 1,641,867,096.02, indicating a rise of approximately 1.3%[15] - The company's cash and cash equivalents decreased significantly from RMB 142,333,629.28 to RMB 87,163,687.70, a drop of around 38.8%[13] - Accounts receivable increased to RMB 105,396,966.50 from RMB 99,383,271.74, showing an increase of about 6.4%[13] - Inventory levels rose slightly to RMB 103,781,021.16 from RMB 101,720,926.68, marking an increase of approximately 2.0%[13] - The company's long-term borrowings decreased to RMB 516,848,520.19 from RMB 531,511,526.05, a reduction of about 2.8%[15] - The total equity attributable to the parent company decreased to RMB 1,352,882,867.74 from RMB 1,359,982,454.52, reflecting a decline of approximately 0.5%[15] - The company's short-term borrowings increased to RMB 267,365,726.45 from RMB 213,935,738.87, an increase of about 25.0%[15] - The company reported a decrease in retained earnings to RMB 62,656,797.85 from RMB 78,648,870.59, a decline of approximately 20.3%[15] Research and Development - R&D investment totaled ¥31,569,364.47, representing 21.12% of revenue, a decrease from 21.85% in the previous year[5] - Research and development expenses increased to ¥31,569,364.47 in Q1 2025, up from ¥25,321,434.65 in Q1 2024[18] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 10,191[10] - The largest shareholder, Hangzhou Meidike Self-owned Capital Investment Partnership, holds 40.61% of the shares[10] Other Financial Highlights - The company reported a non-recurring gain of ¥116,297.52 after tax, primarily from government subsidies and other non-operating income[6] - The increase in revenue was mainly driven by sales growth in optoelectronic and semiconductor packaging products[7] - The weighted average return on equity improved to -1.18% from -1.62% year-on-year[5]

Financial Performance - The company's total revenue for 2024 reached CNY 11.21 billion, representing a 49.82% increase compared to CNY 7.48 billion in 2023[26]. - Net profit attributable to shareholders for 2024 was CNY 2.96 billion, a 65.29% increase from CNY 1.79 billion in 2023[26]. - The basic earnings per share for 2024 was CNY 4.76, up 59.73% from CNY 2.98 in 2023[27]. - The company's net assets increased by 80.72% to CNY 9.45 billion at the end of 2024, compared to CNY 5.23 billion at the end of 2023[26]. - Operating cash flow for 2024 was CNY 3.37 billion, reflecting a 61.78% increase from CNY 2.08 billion in 2023[26]. - The total cash dividend for the year, including interim distributions, amounts to RMB 2,453,832,192.40[6]. - The cumulative cash dividend over the last three fiscal years amounts to 3,196,848,424.54 RMB, with an average cash dividend ratio of 152.99% of the average annual net profit[169]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 2.6 per share, totaling RMB 1,679,500,669.60 (including tax), which represents 82.89% of the net profit attributable to shareholders for the year[6]. - For the 2023 fiscal year, the cash dividend is proposed at 2.1 RMB per share, amounting to 903,169,766.10 RMB, with a capital reserve increase of 0.4 shares per share[162]. - The cash dividend for the 2022 fiscal year was set at 2.26 RMB per share, totaling 539,990,388 RMB distributed, along with a capital reserve increase of 0.8 shares per share[161]. Market Expansion and Product Development - The company plans to accelerate product technology updates and enhance customer loyalty through a global after-sales service system[37]. - The company experienced significant growth in its inverter business, driven by the demand for energy storage products, particularly in overseas markets[28]. - The company plans to ship 540,600 energy storage inverters, 410,600 string inverters, and 420,300 microinverters in 2024[50]. - The company is actively pursuing market expansion in Southeast Asia, with plans to establish two new distribution centers by the end of 2024[138]. - A strategic acquisition of a local competitor is in progress, which is expected to increase market share by 5% within the next year[139]. Research and Development - Research and development expenses rose to ¥548,898,863.86, an increase of 25.78% year-on-year, reflecting a focus on new product development[75]. - The R&D department has successfully developed three new energy-efficient products, expected to launch in Q2 2024, which are anticipated to enhance market competitiveness[137]. - The company plans to enhance its R&D capabilities, focusing on product updates and differentiation to meet diverse market needs[110]. Risk Management - The company emphasizes that forward-looking statements do not constitute substantive commitments to investors, highlighting potential investment risks[8]. - The company has detailed potential risks in the report, urging investors to review the relevant sections[10]. - The company faces risks related to technological upgrades, including the need for continuous innovation in the rapidly evolving renewable energy sector[111]. - Fluctuations in raw material prices, especially for key components like copper and aluminum, pose a risk to cost management and profitability[114]. Corporate Governance - The company has established four specialized committees under the board of directors, with independent directors holding a majority in the audit, nomination, and remuneration committees[123]. - The company has not experienced any significant differences in governance compared to the regulations set by the China Securities Regulatory Commission[125]. - The company has implemented measures to ensure the independence of its assets, personnel, and operations[126]. Employee Engagement and Compensation - The company has implemented a training plan tailored to departmental needs, ensuring employee development aligns with company goals[159]. - The total remuneration for all directors, supervisors, and senior management reached CNY 35.06 million[141]. - The company has established a salary system for senior management, which includes a fixed annual salary, annual bonuses linked to performance, and special rewards for significant achievements[182]. Environmental Responsibility - The company invested 1.5312 million yuan in environmental protection during the reporting period[187]. - The company has implemented a series of environmental management systems to ensure compliance and enhance environmental responsibility[188]. - The company has adopted low-carbon measures, including increasing the use of clean energy in its production processes[191]. Financial Audit and Reporting - The company has received a standard unqualified audit report from Lixin Certified Public Accountants[5]. - The company completed 4 regular reports and disclosed 92 temporary announcements during the reporting period[125]. - The audit committee convened 4 meetings during the reporting period, reviewing key financial reports including the 2023 annual financial report and the 2024 first quarter report[149].

Financial Performance - The net profit attributable to the parent company for 2024 was -101,845,842.42 RMB, while the net profit for the parent company was -4,947,767.23 RMB[5]. - The company plans not to distribute cash dividends, issue bonus shares, or increase capital reserves due to the losses incurred in 2024[5]. - The company is currently not profitable and has not achieved profitability since its listing[3]. - The net profit attributable to shareholders of the listed company was CNY -101.85 million, compared to CNY -84.45 million in 2023[21]. - The net cash flow from operating activities decreased by 40.14% to CNY 76.73 million[21]. - The company reported a basic earnings per share of CNY -0.26 for 2024, compared to CNY -0.21 in 2023[22]. - The company reported a non-recurring loss of approximately ¥8.76 billion in 2024, compared to a loss of ¥9.29 billion in 2023[29]. - The total amount of trading financial liabilities decreased from approximately ¥10.93 million at the beginning of the period to zero at the end of the period[31]. - The company’s cash dividend amount for the last three fiscal years is recorded as 0, indicating no cash dividends were distributed[186]. - The company’s cash buyback amount included in cash dividends for the last fiscal year was 5,789,664.80 RMB[184]. Revenue and Growth - The company achieved operating revenue of CNY 485.51 million in 2024, a year-on-year increase of 51.38%[21]. - The company’s operating revenue for the reporting period was 485.51 million yuan, an increase of 51.38% compared to the same period last year[106]. - Semiconductor optoelectronics revenue grew by 181.45% year-on-year, driven by the mass production of the 12-inch ultrasonic fingerprint recognition chip[110]. - Micro-nano electronics revenue surged by 585.19% year-on-year, mainly due to the ramp-up of production capacity for RF filter chips[112]. - The revenue from semiconductor packaging increased by 194.55% year-on-year, reflecting significant growth in the production of RF chip packaging and ultrasonic fingerprint recognition chip packaging[112]. - The company reported a revenue of 1,182.57 million for the TC-SAW micro circuit technology, with a growth of 349.53% compared to the previous period[84]. Research and Development - The company invested a total of 107.72 million yuan in R&D, accounting for 22.19% of its sales revenue, with 150 dedicated R&D personnel, representing 13.49% of the total workforce[39]. - Cumulative R&D investment over the last three fiscal years amounted to 265,570,166.92 RMB, representing 21.77% of total cumulative revenue[186]. - The company has applied for a total of 354 patents domestically and internationally, with 245 granted and 215 valid patents as of the end of the reporting period[39]. - The company has developed core technologies in precision optics, semiconductor acousto-optics, semiconductor micro-nano circuits (mainly MEMS), semiconductor packaging, and micro-nano optics[75]. - The company is focusing on R&D that aligns with customer needs and market trends, ensuring timely feedback and response[96]. Market and Strategic Focus - The company plans to focus on the optical optoelectronics and semiconductor industries, leveraging existing core technologies and high-quality customer resources to seize opportunities from technological trends such as AI, smart cars, 5G, and the metaverse[144]. - By 2025, the company aims to enhance its business expansion efforts, emphasizing innovation in processes, technology, and management, while developing new technologies, products, and businesses[145]. - The company intends to optimize its product structure and enhance profitability by focusing on differentiated product strategies and expanding its presence in the semiconductor acousto-optics and MEMS markets[146]. - Key investments will be made in semiconductor wafer manufacturing and packaging projects to optimize product structure and enhance core competitiveness[148]. Risk Management - The company has detailed various risks and countermeasures in the report, which can be found in the "Management Discussion and Analysis" section[3]. - The company faces risks related to rapid product technology iteration and potential loss of core personnel[98]. - The company is exposed to macroeconomic risks, including global economic fluctuations and international trade tensions[105]. Corporate Governance and Compliance - The company has established a robust internal control system and governance structure to ensure compliance with relevant laws and regulations, thereby protecting shareholder interests[150]. - The company has implemented key performance indicators across various operational areas to ensure continuous improvement[95]. - The company has no reported risks or dissenting opinions from the Supervisory Board[173]. Employee and Management Structure - The company reported a total of 1,112 employees, with 208 in the parent company and 904 in major subsidiaries[173]. - The company has a structured approach to remuneration that complies with relevant laws and regulations, ensuring no adverse impact on shareholder interests[162]. - The company has implemented a stock option and restricted stock incentive plan for 2024, linking executive performance to company performance[200]. - The total number of shares granted under the 2024 stock option and restricted stock incentive plan represents 2.17% of the total shares outstanding, which is 406,737,698 shares[188]. Future Outlook - The company provided an optimistic outlook for Q4 2023, projecting a revenue growth of 20% compared to Q3 2023[156]. - New product launches are expected to contribute an additional 100 million RMB in revenue in the next quarter[156]. - The management team emphasized a commitment to sustainability, aiming for a 30% reduction in carbon emissions by 2025[156].

Financial Performance - The company's revenue for Q1 2025 was ¥94,281,135.17, representing a 79.63% increase compared to ¥52,487,248.31 in the same period last year[3] - Total operating revenue for Q1 2025 reached ¥94,281,135.17, a significant increase of 79.8% compared to ¥52,487,248.31 in Q1 2024[18] - The company's operating revenue for Q1 2025 reached ¥96,838,589.25, a significant increase from ¥54,064,752.08 in Q1 2024, representing an increase of approximately 79.5%[29] - The net profit attributable to shareholders was -¥7,499,282.76, an improvement from -¥19,450,089.89 year-over-year[3] - Net loss for Q1 2025 was ¥7,036,442.89, an improvement from a net loss of ¥19,074,212.02 in Q1 2024[20] - The company reported a total comprehensive income for the period of -CNY 6,329,551.85, compared to -CNY 19,070,731.19 in the previous year[31] Cash Flow - The net cash flow from operating activities was -¥27,757,095.06, a decline of 398.31% compared to ¥9,304,856.57 in the previous year[3] - Operating cash flow for Q1 2025 showed a net outflow of ¥27,757,095.06, compared to a net inflow of ¥9,304,856.57 in Q1 2024[23] - The company reported a net cash outflow from investing activities of ¥186,761,532.11 for the period[24] - The company’s financing activities generated a net cash inflow of ¥12,332,888.89 in Q1 2025, compared to ¥50,089,044.07 in Q1 2024, showing a decrease of about 75.5%[24] - The company reported a cash outflow of CNY 92,757,180.47 related to operating activities, a significant increase from CNY 13,035,618.32 in Q1 2024[31] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,312,137,441.08, a slight increase of 0.30% from ¥3,302,078,019.35 at the end of the previous year[5] - Total current assets as of March 31, 2025, amount to ¥1,738,599,546.82, an increase from ¥1,633,139,116.05 as of December 31, 2024[13] - Total liabilities as of March 31, 2025, are ¥280,304,788.25, compared to ¥260,216,820.06 at the end of 2024[14] - The total liabilities increased to ¥328,985,973.63 in the latest report, up from ¥309,726,459.75 in the previous period[15] - The total equity attributable to shareholders decreased to ¥2,976,277,070.78 from ¥2,985,940,002.80[15] Research and Development - Research and development expenses totaled ¥27,494,801.96, accounting for 29.16% of revenue, down from 55.80% in the same period last year, a decrease of 26.64 percentage points[5] - Research and development expenses for Q1 2025 were ¥27,494,801.96, slightly down from ¥29,285,482.42 in Q1 2024[19] - The company’s R&D expenses for Q1 2025 were ¥25,966,190.35, slightly down from ¥27,394,608.54 in Q1 2024, indicating a decrease of about 5.2%[30] Shareholder Information - Total number of common shareholders at the end of the reporting period is 13,278[9] - The largest shareholder, Suzhou Huafeng Investment Center, holds 32,409,000 shares, representing 18.38% of total shares[9] Market and Operational Insights - The increase in revenue was attributed to successful market expansion and recognition of high-power products by end customers, leading to increased sales volume[7] - The company did not receive any tax refunds this quarter, impacting cash flow negatively compared to the previous year[7] - There are no applicable reminders for investors regarding the company's operational situation during the reporting period[11] - The company has not reported any significant changes in shareholder relationships or actions during the reporting period[10]