Financial Performance - The company's operating revenue for Q1 2025 was ¥252,251,585.41, representing a decrease of 5.88% compared to ¥268,014,443.88 in the same period last year[4] - Net profit attributable to shareholders was ¥65,528,927.40, a significant improvement from a loss of ¥9,828,319.91 in the previous year[4] - Basic and diluted earnings per share were both ¥0.1680, recovering from a loss of ¥0.0246 in the same period last year[4] - The company reported a net profit margin improvement due to reduced operating costs, although specific profit figures were not disclosed in the provided content[21] - The net profit for Q1 2025 reached ¥65,231,528.14, a significant recovery from a net loss of ¥9,977,857.79 in Q1 2024, marking a turnaround of over 700%[22] - Operating profit for the period was ¥74,390,850.62, compared to an operating loss of ¥6,359,055.75 in the same quarter last year[22] - Total revenue from operating activities increased to ¥296,561,592.10 in Q1 2025, up from ¥280,428,910.22 in Q1 2024, reflecting a growth of approximately 5.4%[26] - The total comprehensive income for Q1 2025 was ¥65,469,852.54, compared to ¥37,987.10 in Q1 2024, indicating a strong improvement in overall financial performance[23] Cash Flow and Assets - The net cash flow from operating activities was -¥32,696,451.07, worsening from -¥20,414,452.60 year-on-year[4] - Cash and cash equivalents as of March 31, 2025, amounted to CNY 909,971,443.78, an increase of 13.4% from CNY 802,275,964.57 on December 31, 2024[16] - Cash and cash equivalents at the end of Q1 2025 totaled ¥909,968,985.84, an increase from ¥751,737,654.93 at the end of Q1 2024[27] - The company generated ¥179,415,701.02 in cash inflow from investing activities in Q1 2025, compared to ¥68,355,494.82 in Q1 2024, showing a substantial increase of over 162%[26] - Financing activities resulted in a net cash outflow of -¥5,952,500.00 in Q1 2025, a significant decrease from a net inflow of ¥61,898,499.76 in Q1 2024[27] - Total assets at the end of the reporting period were ¥1,803,071,957.31, a slight increase of 0.71% from ¥1,790,370,611.73 at the end of the previous year[5] - The company's non-current assets totaled CNY 625,386,483.54 as of March 31, 2025, an increase from CNY 601,148,792.13 at the end of 2024[19] Shareholder Information - The total number of common shareholders at the end of the reporting period is 16,014[9] - Zhang Baoquan and Wu Yanfang are the controlling shareholders, holding 19.86% and 16.67% of shares respectively[10] - The top 10 shareholders hold a total of 4,000,000 shares, with the largest shareholder holding 79,425,226 shares[9] - The company has a total of 10,080,000 shares held in a repurchase account, representing 2.52% of total shares[10] - The top shareholder, Zhang Baoquan, also holds interests in multiple partnership entities related to the company[10] - The shareholder structure indicates a significant concentration of ownership among the top shareholders[9] Research and Development - Research and development expenses totaled ¥20,636,421.38, an increase of 17.84% from ¥17,511,604.68, representing 8.18% of operating revenue, up from 6.53%[5] - Research and development expenses rose to ¥20,636,421.38 in Q1 2025, compared to ¥17,511,604.68 in Q1 2024, indicating an increase of about 17.5%[22] Corporate Actions - The company plans to implement a restricted stock incentive plan in 2025, approved by the board on March 19, 2025[13] - The company approved a restricted stock incentive plan for 2025 during the first extraordinary general meeting on April 11, 2025[14] - The board approved the first grant of restricted stock to incentive objects under the 2025 plan on April 17, 2025[14] Other Information - Non-recurring gains and losses amounted to ¥5,772,090.38, with significant contributions from government subsidies and other non-operating income[6] - The company attributed the increase in net profit to favorable exchange rate movements of the Japanese yen during the reporting period[7] - The company has not reported any changes in the number of shares lent or returned compared to the previous period[12] - The company has not disclosed any other significant operational changes during the reporting period[13]

Financial Performance - In 2024, the company achieved operating revenue of CNY 699.22 million, a decrease of 18.11% compared to the previous year[21]. - The net profit attributable to shareholders was CNY 45.20 million, down 44.75% year-on-year[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 39.33 million, a decline of 37.66% compared to the previous year[21]. - Basic and diluted earnings per share for 2024 were CNY 0.38, down 44.93% from the previous year[23]. - The company reported a revenue of 699.22 million RMB, a decrease of 18.11% compared to the previous year, while the operating cost decreased by 19.81% to 528.74 million RMB[175]. - The gross profit margin for the main business was 24.11%, an increase of 1.5 percentage points compared to the same period last year, despite a decrease in main business income by 18.23% to 693.29 million RMB[176]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 1.90 per 10 shares, totaling approximately RMB 22.13 million, which represents 48.96% of the net profit attributable to shareholders for the year 2024[5]. - The total number of shares participating in the dividend distribution is 116,475,338 shares after accounting for repurchased shares[5]. - The company does not plan to issue bonus shares or convert reserves into share capital for the year 2024[5]. Audit and Governance - The company has received a standard unqualified audit report from Zhonghui Certified Public Accountants[4]. - The board of directors and management have confirmed the accuracy and completeness of the annual report[3]. - The company has a comprehensive governance structure in place, with all board members present at the meeting[4]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[7]. - There are no violations of decision-making procedures regarding external guarantees[7]. Research and Development - The company's R&D investment as a percentage of operating revenue increased to 5.96%, up 1.41 percentage points from the previous year[23]. - R&D investment totaled approximately ¥41.66 million, representing a 7.32% increase from the previous year, with R&D expenses accounting for 5.96% of total revenue, an increase of 1.41 percentage points[134]. - The company has developed five core technologies in intelligent manufacturing, including flexible lean automation line design and advanced manufacturing process integration[144]. - The company has developed advanced laser welding technologies, including laser deep melting welding and laser filling welding, successfully applied in key automotive components manufacturing[145]. - The company has developed AI-based intelligent robotic welding equipment to overcome technical bottlenecks in complex structural welding, achieving industry-leading technology[126]. Market Strategy and Expansion - The company is focusing on a "domestic stability and overseas expansion" dual-track strategy to enhance operational quality and optimize customer structure[24]. - The company is focusing on expanding its overseas market presence while leveraging its long-term industry experience in intelligent manufacturing[34]. - The company has established subsidiaries in Hong Kong, Mexico, and Germany, successfully expanding its overseas market presence[38]. - The company is actively expanding its market presence beyond the Yangtze River Delta region to mitigate risks associated with regional market concentration[163]. - The company is exploring new business opportunities in the low-altitude economy by investing in Zixiyang General Aviation, aligning with national policies[43]. Energy Storage Business - The energy storage business faced challenges due to lower-than-expected market demand and intensified competition, impacting revenue and profit contributions[24]. - The company has implemented an integrated business model in the commercial energy storage sector, covering the entire lifecycle from product design to asset operation[40]. - The energy storage industry is transitioning towards accelerated consolidation due to overcapacity and stricter regulations, with weaker companies facing potential exit[87]. - The energy storage market is driven by dual forces of policy (e.g., carbon neutrality goals) and market demand (e.g., peak-valley arbitrage) for energy management[88]. - The company is adopting an integrated contract energy management model for commercial energy storage, which reduces financial pressure on end-users while providing professional services[96]. Risks and Challenges - The company faces various risks as outlined in the report, which investors should consider[6]. - The company is facing risks in its energy storage business due to intensified market competition and potential policy changes affecting profitability, particularly in peak and valley electricity price differences[169]. - The company is experiencing risks related to insufficient order volume in its energy storage business, which may lead to financial strain and increased risk of guarantee obligations[170]. - The company is facing risks from intensified market competition in the smart manufacturing sector, which could adversely affect its performance if it fails to maintain its technological and product advantages[161]. - The company has established a contract management system to enhance legal awareness and strengthen project management, particularly in receivables management, to mitigate accounts receivable risks[168]. Customer and Supplier Dynamics - The top five customers contributed approximately 40.28% of the company's total revenue, indicating a high customer concentration risk[164]. - The top five suppliers accounted for 102.06 million yuan in purchases, representing 17.95% of the total annual purchases, with no purchases from related parties[192]. - The company has a strong customer base in the automotive sector, including major clients like Ningbo Tuopu and CATL, and has expanded its services to high-end manufacturing sectors such as aerospace and military[149]. Production and Inventory Management - The company produced 138.58 MWh of energy storage systems, with sales of 60.53 MWh, resulting in a significant inventory increase of 808.18% year-over-year[181]. - The total inventory at year-end was 168.14 MWh, with 109.22 MWh operated under a contract energy management model and planned for equity transfer[182]. - The company's inventory value at the end of the reporting period was 664.32 million, accounting for 48.37% of current assets, highlighting potential risks related to inventory losses[166]. - The company's main business cost for the reporting period was 526.13 million yuan, a decrease of approximately 130.03 million yuan or 19.82% compared to the same period last year, primarily due to a decline in main business revenue and various cost-reduction measures[186]. Financial Position and Liabilities - The company's total assets at the end of the reporting period were 1.85 billion yuan, with a decrease of 39.95% from the previous period, primarily due to loan repayments and reduced sales collections[197]. - The company's total liabilities decreased significantly, reflecting a strategic focus on reducing debt and improving cash flow management[197]. - The company's accounts receivable at the end of the reporting period amounted to 254.70 million RMB, accounting for 18.55% of current assets, indicating potential risks of overdue receivables due to increased financial pressure on downstream automotive parts manufacturers[167]. - The company's short-term borrowings decreased by 94.99%, from 139,810,386.56 RMB to 7,006,202.78 RMB, primarily due to repayments[198]. - The company's long-term borrowings increased by 170.04%, from 39,000,000.00 RMB to 105,314,626.41 RMB, mainly due to new borrowings[198].

Financial Performance - The company's operating revenue for Q1 2025 was ¥5,037,084,511.23, a decrease of 4.73% compared to ¥5,287,006,550.08 in the same period last year[3] - Net profit attributable to shareholders increased significantly by 447.56% to ¥104,439,125.64 from ¥19,073,408.11 year-on-year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses rose by 454.08% to ¥88,541,713.79 from ¥15,980,046.60 in the previous year[3] - Basic and diluted earnings per share increased by 300% to ¥0.08 from ¥0.02 year-on-year[3] - Net profit for Q1 2025 reached ¥105,486,915.19, significantly up from ¥13,287,269.17 in Q1 2024, representing an increase of 694.06%[19] - The gross profit margin for Q1 2025 improved to 2.08% from 0.04% in Q1 2024[18] - The company reported a total comprehensive income of ¥183,364,913.44 for Q1 2025, compared to a loss of ¥42,861,709.92 in Q1 2024[19] Cash Flow - The net cash flow from operating activities was negative at -¥108,731,142.70, a decline of 154.07% compared to ¥201,103,580.34 in the same period last year[3] - In Q1 2025, the net cash flow from operating activities was -108,731,142.70, a decrease from 201,103,580.34 in Q1 2024[22] - Total cash inflow from operating activities in Q1 2025 was 5,100,067,616.89, down from 5,716,926,732.55 in Q1 2024, representing a decline of approximately 10.8%[22] - Cash outflow from operating activities in Q1 2025 was 5,208,798,759.59, compared to 5,515,823,152.21 in Q1 2024, indicating a decrease of about 5.6%[22] - The net cash flow from investing activities was -77,557,199.49 in Q1 2025, an improvement from -176,313,401.20 in Q1 2024[23] - Cash inflow from investing activities in Q1 2025 totaled 472,549,815.43, significantly higher than 28,222,229.23 in Q1 2024[23] - Cash outflow from investing activities increased to 550,107,014.92 in Q1 2025 from 204,535,630.43 in Q1 2024[23] - The net cash flow from financing activities was -192,475,792.42 in Q1 2025, compared to 158,879,851.31 in Q1 2024[23] - Total cash inflow from financing activities was 646,996,631.81 in Q1 2025, down from 1,602,977,008.88 in Q1 2024[23] - The ending cash and cash equivalents balance for Q1 2025 was 1,796,060,328.30, an increase from 1,482,191,515.96 in Q1 2024[23] - The impact of exchange rate changes on cash and cash equivalents was a positive 57,848,720.24 in Q1 2025, contrasting with a negative impact of -50,122,606.33 in Q1 2024[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥20,382,852,399.95, a slight increase of 0.48% from ¥20,284,802,574.36 at the end of the previous year[5] - The total liabilities as of March 31, 2025, were ¥10,195,424,574.81, compared to ¥9,935,135,329.61 on December 31, 2024, indicating an increase of approximately 2.62%[14] - The total assets increased to ¥20,382,852,399.95 from ¥20,284,802,574.36, marking a growth of about 0.49%[14] - The company's short-term borrowings decreased to ¥1,563,528,962.78 from ¥1,656,303,237.47, a reduction of approximately 5.6%[14] - The total liabilities as of the end of the reporting period were ¥15,292,275,451.57, slightly down from ¥15,379,781,642.26[20] - Total equity increased to ¥5,090,576,948.38 from ¥4,905,020,932.10 year-over-year[20] Shareholder Equity - Shareholder equity attributable to the parent company increased by 3.92% to ¥4,830,005,355.12 from ¥4,647,988,523.65 at the end of last year[5] - The total equity of the company is not explicitly stated in the provided data, but the increase in total assets and liabilities suggests a potential growth in equity[14] Government Subsidies and Restructuring - The company recognized government subsidies amounting to ¥24,630,431.48, which are closely related to its normal business operations[6] - The significant increase in net profit is attributed to the gradual effectiveness of the company's restructuring measures and the notable performance growth of its subsidiary, Gramer[7] Current Assets - As of March 31, 2025, the total current assets amounted to ¥10,187,427,825.14, a decrease from ¥10,349,667,244.75 as of December 31, 2024, reflecting a decline of approximately 1.56%[13] - The cash and cash equivalents decreased to ¥1,879,595,879.49 from ¥2,220,000,303.05, representing a decline of about 15.4%[13] - Accounts receivable slightly increased to ¥4,592,062,688.10 from ¥4,583,780,375.01, showing a marginal increase of 0.18%[13] - The inventory level remained stable, with a slight increase to ¥1,650,158,978.93 from ¥1,641,174,624.07, reflecting a growth of about 0.10%[13] - The company's goodwill increased to ¥1,633,777,874.81 from ¥1,577,201,670.17, representing an increase of approximately 3.58%[14] Research and Development - Research and development expenses increased to ¥156,120,784.08 in Q1 2025, up 40.49% from ¥111,091,057.62 in Q1 2024[18] Shareholder Relationships - The company has not reported any significant changes in shareholder relationships or actions regarding share lending or borrowing during the reporting period[11]

Financial Performance - The company's operating revenue for 2024 reached ¥8,183,075,404.44, representing a 51.80% increase compared to ¥5,390,785,355.26 in 2023[23]. - The net profit attributable to shareholders decreased by 27.71% to ¥268,118,339.74 in 2024 from ¥370,878,301.86 in 2023[23]. - The net profit after deducting non-recurring gains and losses fell by 50.59% to ¥181,821,840.41 in 2024 compared to ¥367,959,289.51 in 2023[23]. - The basic earnings per share decreased by 37.98% to ¥1.29 in 2024 from ¥2.08 in 2023[25]. - The weighted average return on equity dropped to 9.02% in 2024, down 9.41 percentage points from 18.43% in 2023[25]. - The gross profit margin for the photovoltaic industry decreased by 5.50 percentage points to 5.22% compared to the previous year[68]. - Operating costs increased by 61.24% to ¥7,765,945,411.08 from ¥4,816,455,055.93, primarily due to increased product sales[65]. - The company reported a net cash flow from financing activities of ¥4,640,611,883.60, an increase of 81.41% from ¥2,558,122,847.09, attributed to the proceeds from the initial public offering and increased note discount financing[65]. Dividend Policy - The company plans to distribute a cash dividend of RMB 0.56 per share, totaling RMB 132,863,542.56, which represents 49.55% of the net profit attributable to shareholders for the year 2024[6]. - The company has established a cash dividend policy that prioritizes cash dividends, with a minimum cash dividend ratio of 80% for mature companies without significant capital expenditure plans[155]. - The board of directors will propose the specific dividend ratio each year based on the company's annual profit status and future funding plans[154]. - The cash dividend distribution will be completed within two months after the shareholders' meeting approval[158]. Production and Capacity Expansion - The company is expanding production capacity with the launch of new facilities in Wuhu and Vietnam, enhancing its competitive edge[27]. - The company has established five production bases in Liaoning, Jiangsu, Anhui, and Vietnam, with a total annual production capacity of 690,000 tons of photovoltaic aluminum frames once fully operational[45]. - The company is currently in the ramp-up phase of production at its Anhui Wuhu and Vietnam facilities, while the Baotou base in Inner Mongolia is under construction with an annual capacity of 100GW for photovoltaic aluminum frames[45]. - The company plans to produce 180,000 tons of photovoltaic aluminum frames annually at its Vietnam production base, enhancing supply chain localization and mitigating trade barrier risks[60]. Research and Development - The company invested 454 million RMB in R&D during the reporting period, participating in the formulation of 29 industry standards and holding a total of 173 patents[34]. - Research and development expenses rose by 44.45% to ¥96,548,144.76, up from ¥66,837,457.55, reflecting increased investment in R&D and personnel[65]. - The company aims to enhance its core competitiveness through continuous optimization of industrial layout and deepening technological innovation[36]. Market and Industry Outlook - The global photovoltaic market is expected to add approximately 530 GW of new capacity in 2024, with China contributing over 50% of this growth[41]. - In 2024, China's new photovoltaic installed capacity is projected to be 277.57 GW, a year-on-year increase of 28.3%[39]. - The company anticipates a 50% growth in demand for photovoltaic aluminum frames in emerging markets by 2025[113]. - The domestic photovoltaic market is projected to see new installations of 215-255 GW by 2025, a decrease from the historical high of 277.57 GW in 2024[112]. Environmental and Sustainability Initiatives - The company has implemented a comprehensive environmental monitoring plan, ensuring compliance with national and local pollution discharge standards[180]. - The company reduced carbon emissions by 20,937.75 tons through measures such as clean energy generation and energy management[184]. - The proportion of recycled aluminum used in raw materials reached 56% in 2024, contributing to reduced carbon emissions[186]. - The company actively invests in pollution control facilities, including bag dust collectors and alkaline spray systems, to enhance emission treatment capabilities[182]. Governance and Management - The management team has over 15-20 years of experience in the photovoltaic and aluminum extrusion industries, providing strong leadership for future development[64]. - The company has conducted multiple board meetings and shareholder meetings to ensure compliance with governance regulations and protect shareholder interests[121]. - The company emphasizes investor relations management, utilizing various communication channels to engage with investors and gather feedback[123]. - The board of directors consists of independent members with extensive industry experience, contributing to sound governance practices[130]. Risk Management - The company has established a comprehensive risk management framework for derivative trading, including strict authorization and operational procedures to mitigate various risks such as market, liquidity, and operational risks[108]. - The company effectively reduced price volatility risks through timely derivative investments, particularly in aluminum futures to hedge raw material procurement costs[108]. - The company faces risks from increasing global trade barriers, particularly from the U.S. and EU, which may adversely affect its global expansion efforts[118]. Shareholder Commitments - The company’s controlling shareholders committed to not transferring or entrusting the management of their shares for 36 months post-IPO[192]. - Shareholders are restricted from selling more than 25% of their total shares annually during their tenure as directors or senior management[194]. - The commitments made by shareholders are aimed at protecting the interests of the company and its investors[192].

Financial Performance - The company's revenue for Q1 2025 reached ¥1,201,208,116.18, representing a 45.89% increase compared to ¥823,390,813.82 in the same period last year[3] - Net profit attributable to shareholders was ¥14,520,874.78, up 42.12% from ¥10,217,565.23 year-on-year[3] - The net profit after deducting non-recurring gains and losses surged by 1027.31%, amounting to ¥14,462,884.92 compared to ¥1,282,954.42 in the previous year[3] - Basic and diluted earnings per share rose by 33.33% to ¥0.04 from ¥0.03 year-on-year[3] - Total revenue for Q1 2025 reached ¥1,201,208,116.18, a significant increase of 46% compared to ¥823,390,813.82 in Q1 2024[19] - Net profit for Q1 2025 was ¥14,520,874.78, compared to ¥10,217,565.23 in Q1 2024, representing an increase of approximately 42.5%[20] - Earnings per share for Q1 2025 were ¥0.04, up from ¥0.03 in Q1 2024, indicating a growth of 33.33%[21] - The company reported a total comprehensive income of ¥14,520,874.78 for Q1 2025, compared to ¥10,217,565.23 in Q1 2024, showing an increase of 42.5%[21] Assets and Liabilities - The company's total assets increased by 5.82% to ¥4,230,014,267.15 from ¥3,997,236,084.29 at the end of the previous year[3] - As of March 31, 2025, the company's total assets reached RMB 4,230,014,267.15, an increase from RMB 3,997,236,084.29 as of December 31, 2024, reflecting a growth of approximately 5.8%[14] - The company’s total liabilities increased to RMB 2,055,664,342.85 from RMB 1,999,215,000.00, reflecting an increase of approximately 2.8%[15] - Total liabilities increased to ¥2,093,663,293.29 in the current period from ¥1,896,788,658.32 in the previous period, reflecting an increase of approximately 10.4%[16] - Non-current liabilities rose to ¥577,628,367.00 from ¥518,071,741.60, an increase of about 11.5%[16] - Shareholders' equity totaled ¥2,136,350,973.86, up from ¥2,100,447,425.97, indicating a growth of approximately 1.7%[16] Cash Flow - Cash flow from operating activities showed an improvement, with a net cash flow of -¥59,052,105.71, an increase from -¥69,782,337.07 in the previous year[3] - Cash generated from operating activities in Q1 2025 was ¥1,278,090,462.41, compared to ¥930,015,211.31 in Q1 2024, marking a 37.4% increase[22] - The net cash flow from operating activities was -$59.05 million, an improvement from -$69.78 million in the previous period, indicating a reduction in cash outflow[23] - Total cash inflow from operating activities amounted to $1.34 billion, compared to $974.62 million last year, reflecting a 37.5% increase[23] - Cash outflow from operating activities totaled $1.40 billion, up from $1.04 billion, representing a 34.2% increase[23] Research and Development - The company reported a significant increase in research and development expenses by 40.83%, attributed to increased investment in new projects[4] - Research and development expenses for Q1 2025 were ¥35,530,121.00, compared to ¥25,229,037.52 in Q1 2024, reflecting an increase of 40.8%[20] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 20,989[8] - Major shareholders include Xu Hong, holding 30.91% of shares, and Xu Yazhi, holding 5.32%[8] Inventory and Receivables - Accounts receivable rose to RMB 1,296,554,923.95, up from RMB 1,287,635,522.38, indicating a slight increase of about 0.7%[14] - The company reported a decrease in inventory from RMB 659,198,427.49 to RMB 586,222,783.08, a reduction of approximately 11.1%[14] Share Buyback and Employee Stock Ownership - The company completed a share buyback of 5,456,828 shares, representing 1.65% of the total share capital, with an average repurchase price of RMB 6.82 per share, totaling RMB 37,193,600[11] - The company approved an employee stock ownership plan with a total funding of up to RMB 21,609,000, corresponding to a maximum of 5,456,828 shares[11] - The company plans to use self-owned funds of RMB 20 million to RMB 40 million for share repurchase to support employee stock ownership plans or equity incentives[10]

Financial Performance - The company's operating revenue for Q1 2025 was CNY 788,932,079.51, representing a 1.55% increase compared to CNY 776,873,263.88 in the same period last year[4] - The net profit attributable to shareholders was CNY 33,030,641.70, a 1.11% increase from CNY 32,666,644.93 year-on-year[4] - Total operating revenue for Q1 2025 reached ¥788,932,079.51, an increase of 1.36% compared to ¥776,873,263.88 in Q1 2024[16] - Net profit for Q1 2025 was ¥33,725,847.64, compared to ¥32,373,571.23 in Q1 2024, representing a growth of 4.19%[17] - Operating profit for Q1 2025 was ¥46,000,986.34, slightly higher than ¥44,466,146.10 in Q1 2024, indicating a year-over-year increase of 3.46%[17] Cash Flow - The net cash flow from operating activities was negative at CNY -419,951,094.43, compared to CNY -316,806,111.15 in the previous year, indicating a significant decline[4] - The net cash flow from operating activities for Q1 2025 was -419,951,094.43 CNY, compared to -316,806,111.15 CNY in Q1 2024, indicating a decline in operational cash flow[21] - Total cash inflow from operating activities decreased to 1,217,045,573.17 CNY in Q1 2025 from 1,326,272,096.15 CNY in Q1 2024, reflecting a year-over-year decrease of approximately 8.2%[21] - Cash outflow from operating activities was 1,636,996,667.60 CNY in Q1 2025, slightly down from 1,643,078,207.30 CNY in Q1 2024, showing a marginal reduction[21] - The net cash flow from investing activities was -11,799,843.85 CNY in Q1 2025, compared to -8,058,066.08 CNY in Q1 2024, indicating increased investment losses[22] - Cash inflow from financing activities increased to 304,400,000.00 CNY in Q1 2025 from 227,527,010.00 CNY in Q1 2024, representing a growth of approximately 33.8%[22] - The net cash flow from financing activities improved to 93,552,542.75 CNY in Q1 2025, up from 49,865,894.74 CNY in Q1 2024, indicating stronger financing performance[22] - The ending cash and cash equivalents balance decreased to 437,758,912.53 CNY in Q1 2025 from 885,188,904.92 CNY in Q1 2024, reflecting a significant decline of approximately 50.5%[22] Assets and Liabilities - Total assets decreased by 2.18% to CNY 9,928,692,563.15 from CNY 10,150,046,865.47 at the end of the previous year[5] - The total assets as of the reporting date were ¥9,928,692,563.15, a decrease from ¥10,150,046,865.47 in the previous period[13] - Total liabilities decreased to ¥7,460,130,646.07 from ¥7,684,621,570.00, reflecting a reduction of approximately 2.92%[13] - The company's equity increased slightly to ¥2,468,561,917.08 from ¥2,465,425,295.47, indicating a marginal growth[13] Shareholder Information - The total number of common shareholders at the end of the reporting period was 21,466[8] - The largest shareholder, Xiangyuan Holding Group Co., Ltd., holds 44.32% of the shares, with 274,293,290 shares pledged[8] Research and Development - Research and development expenses in Q1 2025 amounted to ¥2,124,648.25, significantly up from ¥360,558.45 in Q1 2024, showing an increase of 487.5%[16] Earnings Per Share - The basic and diluted earnings per share for Q1 2025 remained at ¥0.05, consistent with Q1 2024[17] Credit and Receivables - The accounts receivable increased slightly to CNY 4,556,913,003.70 from CNY 4,518,348,169.33, indicating stable receivables management[11] - The company reported a significant increase in credit impairment losses, totaling ¥22,610,639.68 in Q1 2025 compared to ¥27,355,061.79 in Q1 2024, indicating a decrease in credit risk[16]

Financial Performance - The company's operating revenue for Q1 2025 was CNY 459,160,170.98, representing a 12.73% increase compared to CNY 407,311,653.81 in the same period last year[4] - Net profit attributable to shareholders for the same period was CNY 13,670,554.95, up 22.38% from CNY 11,170,580.85 year-on-year[4] - Basic earnings per share increased by 22.26% to CNY 0.0648 from CNY 0.0530 in the previous year[4] - Operating profit for Q1 2025 was ¥10.98 million, an increase of 23.14% from ¥8.89 million in Q1 2024[18] - The company reported a total comprehensive income of ¥14.04 million in Q1 2025, compared to ¥9.99 million in Q1 2024[19] Cash Flow - The net cash flow from operating activities decreased significantly by 339.37%, resulting in a negative cash flow of CNY -35,220,983.99, compared to a positive CNY 14,714,279.24 in the previous year[7] - Cash flow from operating activities showed a net outflow of ¥35.22 million in Q1 2025, compared to a net inflow of ¥14.71 million in Q1 2024[22] - Cash flow from investing activities resulted in a net outflow of ¥101.18 million in Q1 2025, worsening from a net outflow of ¥40.99 million in Q1 2024[23] - Cash flow from financing activities generated a net inflow of ¥104.66 million in Q1 2025, compared to a net outflow of ¥2.84 million in Q1 2024[23] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,312,514,762.22, a decrease of 1.66% from CNY 2,351,536,089.18 at the end of the previous year[5] - The company's total liabilities decreased from RMB 1,047,205,332.85 to RMB 993,746,073.50, representing a reduction of about 5.1%[15] - The total equity attributable to shareholders increased from RMB 1,304,330,756.33 to RMB 1,318,768,688.72, showing a growth of approximately 1.1%[15] - Cash and cash equivalents decreased from RMB 489,628,581.61 to RMB 456,130,742.43, a decline of about 6.8%[13] - Accounts receivable decreased from RMB 566,230,439.23 to RMB 532,211,124.59, a reduction of approximately 6%[13] - Inventory decreased from RMB 257,928,295.66 to RMB 240,206,727.35, reflecting a decline of about 6.9%[13] - The company's short-term borrowings amounted to RMB 60,000,000.00 as of March 31, 2025, indicating a new liability[14] - The company's long-term borrowings increased from RMB 134,536,564.20 to RMB 181,018,043.92, an increase of approximately 34.5%[15] - The company's retained earnings increased from RMB 418,244,528.86 to RMB 431,915,083.81, reflecting a growth of about 3.3%[15] Shareholder Information - The top shareholder, Watanabe Yoichi, holds 58.53% of the shares, totaling 124,576,382 shares[9] - The total number of ordinary shareholders at the end of the reporting period was 24,374[8]

Financial Performance - The company's operating revenue for Q1 2025 was ¥77,869,532.60, a decrease of 41.95% compared to ¥134,141,876.04 in the same period last year[3] - The net profit attributable to shareholders was -¥18,994,777.56, representing a decline of 544.18% from a profit of ¥4,276,331.11 in the previous year[3] - The basic earnings per share decreased to -¥0.16, down 500.00% from ¥0.04 in the same period last year[4] - The net profit for Q1 2025 was a loss of ¥23,844,696.73, compared to a profit of ¥6,731,710.06 in Q1 2024, indicating a significant decline in profitability[15] - The total comprehensive income for the first quarter of 2025 was -23,626,227.30, compared to 6,731,710.06 in the first quarter of 2024, reflecting a substantial decrease[16] - The basic and diluted earnings per share for the first quarter of 2025 were both -0.16, compared to 0.04 in the first quarter of 2024, showing a negative shift in earnings[16] Research and Development - Research and development expenses totaled ¥11,301,804.58, an increase of 6.32% from ¥10,629,774.26, with R&D expenses accounting for 14.51% of operating revenue, up 6.59 percentage points[4] Cash Flow and Liquidity - The company reported a net cash flow from operating activities of -¥47,365,689.31, an improvement from -¥80,044,429.32 in the previous year[3] - Cash inflows from operating activities for the first quarter of 2025 totaled 160,068,331.83, slightly up from 158,228,440.78 in the first quarter of 2024[19] - The net cash flow from operating activities for the first quarter of 2025 was -47,365,689.31, an improvement from -80,044,429.32 in the same period of 2024[19] - Cash inflows from investing activities for the first quarter of 2025 were 372,355,658.00, significantly higher than 184,439,427.97 in the first quarter of 2024[19] - The net cash flow from investing activities for the first quarter of 2025 was 72,870,805.40, compared to 20,650,707.29 in the first quarter of 2024, indicating a positive trend[19] - Cash inflows from financing activities for the first quarter of 2025 were 23,102,000.00, down from 88,588,000.00 in the first quarter of 2024[20] - The net increase in cash and cash equivalents for the first quarter of 2025 was 45,300,778.91, contrasting with a decrease of -34,528,092.57 in the first quarter of 2024[20] - The ending balance of cash and cash equivalents for the first quarter of 2025 was 199,696,778.84, compared to 199,945,516.08 at the end of the first quarter of 2024, showing stability[20] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,867,971,621.76, reflecting a 3.26% increase from ¥1,808,924,637.63 at the end of the previous year[4] - Total current assets rose to ¥1,435,831,995.15 as of March 31, 2025, compared to ¥1,373,313,717.17 at the end of 2024, marking an increase of 4.5%[11] - Inventory levels increased to ¥783,112,375.55 as of March 31, 2025, up from ¥664,322,885.75 at the end of 2024, reflecting a growth of 18%[11] - Total liabilities increased to ¥951,583,712.82 as of March 31, 2025, compared to ¥868,910,501.39 at the end of 2024, indicating a rise of approximately 9.5%[13] - The company's long-term borrowings rose to ¥120,385,642.36 as of March 31, 2025, compared to ¥105,314,626.41 at the end of 2024, an increase of about 14%[13] - The company's equity attributable to shareholders decreased to ¥926,935,148.73 as of March 31, 2025, down from ¥945,711,456.86 at the end of 2024, a decline of approximately 2%[13] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 11,694, with the largest shareholder holding 18.27% of the shares[7] - The company has not disclosed any significant changes in shareholder participation in margin trading or securities lending activities[9] Strategic Outlook - The company is adopting a cautious development strategy in response to the current state of the energy storage industry, indicating potential risks in its energy storage business[9]

Financial Performance - The company's operating revenue for Q1 2025 was ¥158,955,221.78, a decrease of 26.90% compared to ¥217,434,467.16 in the same period last year[4] - Net profit attributable to shareholders was ¥20,896,750.57, down 42.68% from ¥36,458,013.28 year-on-year[4] - The net profit excluding non-recurring gains and losses decreased by 59.57%, amounting to ¥12,999,328.32 compared to ¥32,156,262.03 in the previous year[4] - The basic earnings per share were ¥0.1507, a decrease of 42.35% from ¥0.2614 in the same period last year[4] - Net profit for Q1 2025 was ¥19,811,931.38, a decline of 46% from ¥36,458,013.28 in Q1 2024[19] - Basic earnings per share for Q1 2025 were ¥0.1507, compared to ¥0.2614 in Q1 2024, indicating a 42% decrease[20] Cash Flow - The net cash flow from operating activities was -¥4,365,835.99, an improvement from -¥23,446,219.16 in the same period last year[4] - Cash received from sales in Q1 2025 was ¥141,832,858.97, down 29% from ¥199,121,680.04 in Q1 2024[22] - The total cash outflow from operating activities was $152,087,905.72, compared to $231,458,626.09 last year[23] - The ending cash and cash equivalents balance was $331,523,583.20, down from $730,561,807.31 at the end of the previous period[24] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,126,566,079.82, down 1.83% from ¥4,203,381,676.12 at the end of the previous year[5] - Total current assets as of March 31, 2025, amount to 3,109,822,730.89 RMB, a decrease from 3,257,272,662.97 RMB as of December 31, 2024[15] - Total liabilities decreased to ¥331,560,123.16 from ¥428,187,650.84, a reduction of approximately 23%[17] - The company reported a significant reduction in short-term borrowings, which decreased from ¥67,729,919.16 to ¥51,863,688.10, a decline of 23%[17] Shareholder Information - Total number of common shareholders at the end of the reporting period is 8,185[10] - The largest shareholder, Shanghai Hongyuan Investment Group Co., Ltd., holds 25,267,722 shares, accounting for 18.05% of total shares[10] Research and Development - R&D investment totaled ¥8,525,190.35, a decrease of 16.62% from ¥10,224,138.81, while the R&D investment as a percentage of operating revenue increased to 5.36%[5] Market Conditions - The decline in net profit was primarily due to intensified market competition and a decrease in product prices, along with reduced delivery volumes of distribution network equipment[8] Investment Activities - The net cash flow from investment activities was -$477,273,006.56, worsening from -$77,791,276.61 in the previous year[23] - The company received $818,500,000.00 from the recovery of investments, slightly down from $859,500,000.00 last year[23] Stock Incentive Plan - The company plans to grant 1,301,916 shares of restricted stock at a price of 14.76 RMB per share as part of its 2025 incentive plan[11] - The company approved the first grant of 1,222,216 shares of restricted stock to 29 incentive objects on April 15, 2025[12]

Financial Performance - The company's operating revenue for Q1 2025 was ¥25,484,743.02, representing a 5.91% increase compared to ¥24,062,617.68 in the same period last year[4] - Total revenue for Q1 2025 reached ¥25,484,743.02, an increase of 5.93% compared to ¥24,062,617.68 in Q1 2024[15] - The net profit attributable to shareholders was -¥375,969.36, an improvement from -¥4,387,242.52 year-over-year[4] - Net profit for Q1 2025 was reported at -¥680,205.74, an improvement from -¥4,324,485.20 in Q1 2024[16] - Operating profit for Q1 2025 was -¥41,394.58, compared to -¥4,331,106.02 in Q1 2024, indicating a significant reduction in losses[16] - The weighted average return on equity increased by 0.52 percentage points to -0.05% from -0.57% year-over-year[4] - The basic earnings per share for Q1 2025 was -¥0.01, compared to -¥0.07 in Q1 2024, indicating a slight improvement in per-share losses[17] Cash Flow - The net cash flow from operating activities was -¥35,791,922.66, compared to -¥49,189,283.73 in the previous year[4] - Cash flow from operating activities increased to ¥32,739,773.10 in Q1 2025, up from ¥20,813,263.88 in Q1 2024, marking a growth of 57.4%[20] - The total cash outflow from operating activities included $30,697,770.85 paid to employees, which increased from $29,677,075.74 in the previous period[21] - The company received $3,548,070.23 in cash related to operating activities, a significant increase from $1,594,064.75 previously[21] - The total cash outflow for taxes paid was $11,393,295.44, up from $9,437,954.06, indicating higher tax obligations[21] - The overall cash flow situation reflects challenges in operational efficiency and investment recovery, necessitating strategic adjustments moving forward[21] Assets and Liabilities - Total assets at the end of the reporting period were ¥909,981,358.15, down 4.02% from ¥948,049,975.81 at the end of the previous year[5] - The company's total assets decreased to ¥909,981,358.15 in the latest reporting period from ¥948,049,975.81 previously, a decline of 4.03%[12] - Total liabilities decreased to ¥101,263,388.21 from ¥138,651,800.13, reflecting a reduction of 26.9%[13] - The company's equity attributable to shareholders was reported at ¥805,234,393.03, slightly down from ¥805,610,362.38[13] Cash and Investments - The cash and cash equivalents decreased to ¥234,886,033.93 from ¥269,919,007.07 at the end of the previous year[11] - The cash and cash equivalents at the end of the period were $233,345,883.11, down from $269,594,295.77 at the beginning of the period, reflecting a net decrease of $36,248,412.66[23] - The company reported cash outflow from investment activities of -$456,490.00, compared to -$5,017,728.99 in the previous period, showing a decrease in investment losses[21] - Cash inflow from investment activities was minimal at $5,600.00, indicating limited investment recovery during the period[21] Shareholder Information - The company had a total of 8,421 common shareholders at the end of the reporting period[8] Research and Development - Research and development expenses for Q1 2025 were ¥1,698,853.90, down from ¥2,895,619.99 in Q1 2024, a decrease of 41.4%[16] Government Subsidies - The company received government subsidies amounting to ¥286,636.58, with a net impact of ¥243,641.09 after tax considerations[6] Inventory and Receivables - The accounts receivable decreased to ¥124,338,177.38 from ¥139,731,429.07 year-over-year[11] - The inventory increased to ¥44,818,715.23 from ¥36,994,621.86 in the previous year[11]