腾景科技股份有限公司2025 年第一季度报告 证券代码：688195 证券简称：腾景科技 腾景科技股份有限公司 2025 年第一季度报告 第一季度财务报表是否经审计 □是 √否 一、主要财务数据 (一) 主要会计数据和财务指标 单位：元 币种：人民币 | | | 本报告期比上 | | | --- | --- | --- | --- | | 项目 | 本报告期 | 上年同期 年同期增减变 | | | | | 动幅度(%) | | | 营业收入 | 113,229,735.98 | 93,886,682.13 | 20.60 | | 归属于上市公司股东的净利润 | 13,033,979.39 | 11,254,674.78 | 15.81 | | 归属于上市公司股东的扣除非 | 11,820,800.95 | 9,633,472.31 | | | 经常性损益的净利润 | | | 22.71 | | 经营活动产生的现金流量净额 | 29,141,515.96 | -2,121,110.32 | 不适用 | | 基本每股收益（元/股） | 0.10 | 0.09 | 11.11 | | 稀释每股收益（元/股） | 0 ...

Financial Performance - The company's operating revenue for Q1 2025 was CNY 523,741,296.15, representing a 12.61% increase compared to CNY 465,097,127.38 in the same period last year[4] - Net profit attributable to shareholders for the same period was CNY 54,393,637.03, up 21.43% from CNY 45,200,782.92 year-on-year[4] - The net profit after deducting non-recurring gains and losses increased by 48.04%, reaching CNY 52,117,409.62 compared to CNY 35,612,315.29 in the previous year[4] - The basic and diluted earnings per share were both CNY 0.24, a 9.09% increase from CNY 0.22 in the same period last year[5] - Net profit for Q1 2025 was ¥54,805,394.05, representing a 23.5% increase from ¥44,385,513.33 in Q1 2024[24] - The net profit attributable to the parent company for Q1 2025 was ¥54,393,637.03, an increase from ¥44,793,635.91 in Q1 2024, representing a growth of approximately 21.5%[25] Cash Flow - The net cash flow from operating activities surged by 802.10%, amounting to CNY 85,170,746.28, compared to CNY 10,805,207.05 in the same period last year[4] - The company reported a significant increase in cash flow from operating activities due to a rise in bill acceptance and a decrease in cash payments for purchases[9] - Cash flow from operating activities for Q1 2025 was ¥85,170,746.28, significantly higher than ¥9,441,428.42 in Q1 2024, marking an increase of over 800%[28] - The total cash outflow from operating activities in Q1 2025 was ¥249,928,982.32, down from ¥322,116,947.21 in Q1 2024, indicating a reduction of approximately 22.4%[28] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,981,451,599.04, reflecting a 2.91% increase from CNY 3,866,808,217.01 at the end of the previous year[5] - The company's total assets as of March 31, 2025, amounted to ¥3,981,451,599.04, compared to ¥3,868,935,299.89 at the end of 2024, indicating a growth of 2.9%[20] - The company's total liabilities decreased to ¥1,547,717,705.59 from ¥1,771,389,681.70, a reduction of 12.6%[20] - Current assets totaled ¥2,246,086,633.08 as of March 31, 2025, an increase from ¥2,165,810,077.67 at the end of 2024, marking a rise of 3.7%[20] Shareholder Information - The total number of common shareholders at the end of the reporting period is 25,886[11] - The largest shareholder, Xu Zhongqiu, holds 40,803,236 shares, accounting for 17.00% of total shares[11] - Shareholders' equity attributable to the parent company increased by 16.04%, reaching CNY 2,412,121,407.14 compared to CNY 2,084,727,632.25 at the end of the previous year[5] - The equity attributable to shareholders increased to ¥2,412,121,407.14 as of March 31, 2025, up from ¥2,078,729,315.75 at the end of 2024, reflecting a growth of 16.0%[20] Investment and Development - The company plans to invest approximately RMB 700 million in the "Meihu Intelligent Manufacturing Western Production and R&D Base Project," with an initial investment of RMB 200 million[14] - The project will include three production lines for variable displacement pumps with an annual capacity of 1.5 million sets and one electronic pump production line with an annual capacity of 450,000 sets[14] - The company signed a share transfer agreement to acquire 69,120 shares (1.25% of total equity) in NUWA Robotics Corp.[15] - New product development focuses on electronic oil pumps and hybrid engine oil pumps for various automotive manufacturers[15] - Research and development expenses for Q1 2025 were ¥31,783,830.09, slightly higher than ¥30,945,150.23 in Q1 2024, indicating a focus on innovation[24] Financial Expenses - The company reported a financial expense of ¥8,877,063.21 in Q1 2025, compared to ¥5,891,862.53 in Q1 2024, highlighting increased borrowing costs[24] - The company raised ¥191,000,000.00 through borrowings in Q1 2025, compared to ¥407,090,000.00 in Q1 2024, reflecting a decrease of about 53%[29] - The company experienced a net cash outflow from financing activities of ¥22,355,653.20 in Q1 2025, contrasting with a net inflow of ¥61,831,026.21 in Q1 2024[29]

Financial Performance - The company's operating revenue for Q1 2025 was ¥779,363,640.91, a decrease of 11.62% compared to ¥881,820,091.85 in the same period last year[5] - Net profit attributable to shareholders increased by 5.32% to ¥276,537,819.82 from ¥262,572,246.67 year-on-year[5] - Net profit for Q1 2025 was CNY 277.41 million, an increase of 5.5% compared to CNY 262.99 million in Q1 2024[17] - Basic and diluted earnings per share increased to CNY 0.08 from CNY 0.07 year-over-year[18] - The basic earnings per share increased by 14.29% to ¥0.08 from ¥0.07 in the previous year[5] Cash Flow - The net cash flow from operating activities showed a significant decline, reporting -¥2,997,572,029.31 compared to ¥833,463,910.25 in the previous year, a decrease of 459.65%[5] - Net cash flow from operating activities was negative at CNY -2,997,572,029.31, a significant decline from CNY 833,463,910.25 in the same quarter last year[20] - Cash inflow from operating activities was CNY 5,145,442,244.68, a decrease from CNY 11,403,543,592.57 in the previous year[20] - Cash outflow for operating activities totaled CNY 8,143,014,273.99, down from CNY 10,570,079,682.32 year-over-year[20] - The company reported a net increase in cash and cash equivalents of CNY 5,147,326.43 for the quarter[21] - The company’s cash flow from financing activities showed a net increase of CNY 2,991,543,301.77, compared to CNY 627,895,413.83 in the previous year[21] Assets and Liabilities - Total assets at the end of the reporting period reached ¥75,683,958,554.87, reflecting an increase of 8.48% from ¥69,768,126,275.81 at the end of the previous year[5] - Total assets as of March 31, 2025, reached CNY 75.68 billion, up from CNY 69.77 billion at the end of 2024, representing an increase of 8.5%[14] - Total liabilities increased to CNY 57.44 billion from CNY 51.54 billion, reflecting a growth of 11.3%[14] - Shareholders' equity totaled CNY 18.24 billion, slightly up from CNY 18.22 billion, indicating a marginal increase of 0.1%[14] Investment and Income - Net interest income decreased to CNY 155.70 million from CNY 241.48 million, reflecting a decline of 35.5% year-over-year[16] - Net commission and fee income increased to CNY 215.89 million, up 25.0% from CNY 172.72 million in the previous year[16] - Investment income surged to CNY 422.72 million, a significant increase from CNY 193.00 million, marking a growth of 119.5%[16] Shareholder Information - The company reported a total of 119,603 ordinary shareholders at the end of the reporting period[10] - The top shareholder, Nanjing Zijin Investment Group, holds 25.01% of the shares, totaling 921,952,751 shares[10] Risk Management - The company's net capital decreased to ¥15,037,206,320.98 from ¥15,224,917,552.18, indicating a decline in capital adequacy[6] - The risk coverage ratio decreased to 492.33% from 545.53%, showing a reduction in the company's risk management capacity[6] - The liquidity coverage ratio also fell to 269.61% from 362.55%, indicating tighter liquidity conditions[6] Comprehensive Income - The company reported a significant decline in other comprehensive income, with a net loss of CNY 260.43 million compared to a loss of CNY 29.76 million in the previous year[17] - The total comprehensive income attributable to the parent company was CNY 16,105,142.20, compared to CNY 232,807,930.12 in the previous year[18]

Financial Performance - The company's operating revenue for Q1 2025 was ¥190,921,213.83, a decrease of 45.85% compared to ¥352,582,674.10 in the same period last year[4] - The net profit attributable to shareholders was -¥6,919,576.54, representing a decline of 128.78% from ¥24,039,198.04 year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥10,505,893.27, down 151.56% from ¥20,376,579.89 in the previous year[4] - The basic earnings per share were -¥0.06, a decrease of 128.57% compared to ¥0.21 in the same period last year[5] - The diluted earnings per share were -¥0.05, down 131.25% from ¥0.16 year-on-year[5] - The weighted average return on equity was -0.37%, a decrease of 1.56 percentage points from 1.19% at the end of the previous year[5] - Total operating revenue for Q1 2025 was ¥190,921,213.83, a decrease of 46% compared to ¥352,582,674.10 in Q1 2024[17] - Net profit for Q1 2025 was a loss of ¥6,944,904.17, compared to a profit of ¥24,039,198.04 in Q1 2024, representing a significant decline[19] - Basic earnings per share for Q1 2025 were -¥0.06, compared to ¥0.21 in Q1 2024[19] Cash Flow and Liquidity - The net cash flow from operating activities was -¥134,527,926.86, compared to -¥97,089,771.88 in the same period last year, indicating a worsening cash flow situation[4] - Cash inflow from operating activities in Q1 2025 was ¥161,648,356.28, down from ¥187,462,985.54 in Q1 2024[20] - Cash paid for purchasing goods and services in Q1 2025 was ¥211,678,832.80, an increase from ¥190,711,887.65 in Q1 2024[20] - The total cash and cash equivalents at the end of the period decreased to $238.29 million from $665.96 million, reflecting a significant reduction in liquidity[21] - The company experienced a cash outflow of $250.04 million during the period, compared to a smaller outflow of $35.00 million previously, indicating a worsening cash position[21] - Cash outflow for investment activities was $245.04 million, up from $138.97 million, suggesting aggressive investment strategies[21] - The net cash flow from operating activities was -$134.53 million, compared to -$97.09 million in the previous period, indicating a decline in operational cash generation[21] Assets and Liabilities - The total assets at the end of the reporting period were ¥3,485,834,743.46, a decrease of 1.99% from ¥3,556,607,162.74 at the end of the previous year[5] - The company's current assets totaled RMB 1,426,806,317.93, down from RMB 1,528,952,567.49, indicating a decrease of about 7%[14] - Cash and cash equivalents decreased significantly from RMB 513,176,766.27 to RMB 253,575,131.72, representing a decline of approximately 51%[13] - Total liabilities decreased from RMB 1,681,871,175.04 to RMB 1,614,992,526.30, reflecting a decline of about 4%[15] - The company's equity attributable to shareholders decreased from RMB 1,874,615,395.36 to RMB 1,870,746,952.45, a slight decline of around 0.2%[15] - The total liabilities and equity amounted to ¥3,485,834,743.46 as of the end of Q1 2025, a decrease from ¥3,556,607,162.74 in the previous year[16] Investments and Expenses - Research and development expenses for Q1 2025 were ¥23,009,005.87, up from ¥19,280,144.23 in Q1 2024, indicating increased investment in innovation[17] - The company reported a credit impairment loss of ¥3,330,066.74 in Q1 2025, compared to a gain of ¥4,848,150.68 in Q1 2024[18] - The company experienced a significant increase in management expenses, which rose to ¥43,208,414.35 in Q1 2025 from ¥40,657,303.31 in Q1 2024[17] Government Support and Market Conditions - The company received government subsidies amounting to ¥3,167,874.39, which were closely related to its normal operations[6] - The decrease in revenue was primarily due to reduced order demand from downstream customers for β-lactam antibiotics[7]

Financial Performance - The company's operating revenue for Q1 2025 was ¥99,522,698.78, a decrease of 12.32% compared to ¥113,503,266.94 in the same period last year[4] - Net profit attributable to shareholders was ¥463,584.59, down 91.82% from ¥5,663,973.03 year-over-year[4] - The net profit after deducting non-recurring gains and losses fell by 96.66%, from ¥4,191,703.05 to ¥139,850.10[4] - Basic and diluted earnings per share decreased by 91.85%, from ¥0.0405 to ¥0.0033[4] - The significant decline in net profit was primarily due to a drop in revenue, lower product prices, and reduced government subsidies[7] - The net profit for Q1 2025 was CNY 463,584.59, a decrease from CNY 5,663,973.03 in Q1 2024, reflecting a significant decline in profitability[20] - The operating profit for Q1 2025 was CNY 616,905.49, compared to CNY 6,892,695.03 in the same period last year, indicating a substantial drop in operational performance[20] - Operating profit for Q1 2025 was a loss of CNY 334,855.83, compared to a profit of CNY 4,395,287.44 in Q1 2024[29] - Net profit for Q1 2025 was a loss of CNY 335,825.64, compared to a net profit of CNY 3,550,503.40 in Q1 2024[29] Cash Flow - The net cash flow from operating activities improved to ¥10,171,760.68, compared to a negative cash flow of ¥11,221,104.11 in the previous year[4] - The net cash flow from operating activities increased by 190.65% year-over-year, indicating improved cash management[7] - The company's cash flow from operating activities increased by 190.65 million compared to the same period last year, primarily due to an increase in cash received from customers[9] - The cash flow from operating activities for Q1 2025 was CNY 10,171,760.68, a recovery from a negative cash flow of CNY -11,221,104.11 in Q1 2024[23] - The company's cash flow from operating activities for Q1 2025 was CNY 11,294,346.57, an increase from CNY 8,133,707.48 in Q1 2024[32] Assets and Liabilities - Total assets at the end of the reporting period were ¥618,303,540.38, a decrease of 1.36% from ¥626,800,454.83 at the end of the previous year[5] - Total assets as of March 31, 2025, were CNY 618,303,540.38, down from CNY 626,800,454.83 at the end of 2024, a decrease of 1.4%[17] - Total liabilities decreased to CNY 103,157,212.48 from CNY 112,117,711.52, a reduction of 8.0%[16] - Total liabilities decreased from CNY 60,991,427.76 to CNY 60,233,495.07[27] - Shareholders' equity increased slightly to CNY 515,146,327.90 from CNY 514,682,743.31, an increase of 0.1%[17] Expenses - Total operating costs for Q1 2025 were CNY 99,889,986.89, down from CNY 110,884,655.62 in Q1 2024, reflecting a reduction of 9.0%[19] - The total operating expenses in Q1 2025 were CNY 86,150,557.36, down from CNY 107,063,487.04 in the previous year, showing cost control efforts[23] - The company reported a decrease in sales expenses by 22.01 million, mainly due to reduced labor costs[8] - Research and development expenses for Q1 2025 were CNY 5,780,676.20, nearly unchanged from CNY 5,782,609.96 in Q1 2024[19] - Research and development expenses for Q1 2025 were CNY 2,884,490.86, an increase from CNY 2,547,728.39 in Q1 2024[28] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 7,774[11] - The largest shareholder, Hainan Ningsheng Tourism Group Co., Ltd., holds 41,986,000 shares, accounting for 29.99% of total shares[11] Government Subsidies - The company received government subsidies amounting to ¥367,799.33, which are expected to have a continuous impact on profits[6] Inventory and Receivables - The company's inventory decreased by 4.25 million, mainly due to a reduction in goods dispatched at the end of the period[8] - Accounts receivable decreased to CNY 109,098,708.94 from CNY 131,558,908.82, a reduction of 17.1%[14] - Inventory decreased to CNY 67,247,275.03 from CNY 70,230,949.28, a decline of 4.2%[15] Investment Activities - Total cash inflow from investment activities reached 149.14 million, an increase attributed to the maturity of bank deposit financial products[9] - The company reported cash outflows from investing activities of CNY 80,730,176.00 in Q1 2025, significantly higher than CNY 47,200,235.50 in Q1 2024, indicating increased investment activity[23]

Financial Performance - The company's operating revenue for Q1 2025 was ¥215,123,083.34, a decrease of 32.04% compared to ¥316,529,703.48 in the same period last year[3]. - Net profit attributable to shareholders was ¥33,619,483.08, down 53.16% from ¥71,770,652.32 year-on-year[3]. - Basic and diluted earnings per share were both ¥0.37, representing a decrease of 64.76% from ¥1.05 in the same period last year[3]. - The decrease in revenue and profit was primarily attributed to reduced income from major projects[6]. - Total operating revenue for Q1 2025 was ¥215,123,083.34, a decrease of 32.0% compared to ¥316,529,703.48 in Q1 2024[18]. - Net profit for Q1 2025 was ¥33,619,483.08, representing a decline of 53.1% from ¥71,770,652.32 in Q1 2024[19]. - Research and development expenses for Q1 2025 were ¥7,336,070.62, down 49.7% from ¥14,589,309.81 in Q1 2024[18]. Cash Flow - The net cash flow from operating activities was -¥27,518,118.64, a decline of 143.50% compared to ¥63,257,413.43 in the previous year[3]. - Cash inflow from operating activities in Q1 2025 was ¥177,277,303.48, down 38.7% from ¥289,542,857.20 in Q1 2024[22]. - Cash received from sales of goods and services in Q1 2025 was ¥168,043,391.62, a decrease of 39.3% compared to ¥276,786,165.95 in Q1 2024[22]. - The net cash flow from investment activities was -126,143,870.05, an improvement from -163,684,463.24, showing a reduction in losses by approximately 22.9%[23]. - Cash inflow from financing activities was 38,839,868.00, down from 110,000,000.00, reflecting a decrease of about 64.7%[23]. - The ending balance of cash and cash equivalents was 199,795,169.77, down from 212,605,250.30, representing a decrease of about 6.0%[25]. - The total cash outflow from operating activities was 204,795,422.12, compared to 226,285,443.77, showing a decrease of approximately 9.5%[23]. Assets and Liabilities - Total assets at the end of the reporting period were ¥3,011,279,911.49, a decrease of 2.04% from ¥3,074,103,174.21 at the end of the previous year[4]. - The company's current assets totaled approximately ¥1.68 billion, down from ¥1.76 billion, indicating a decrease of around 4.5%[13]. - Total liabilities decreased to ¥840,201,062.10 in the latest reporting period from ¥943,527,690.51 previously[15]. - The company's fixed assets were valued at approximately ¥432.3 million, remaining relatively stable compared to ¥434.0 million, showing a minor decrease of about 0.4%[13]. Shareholder Information - Shareholders' equity attributable to shareholders was ¥2,171,078,849.39, an increase of 1.90% from ¥2,130,575,483.70 at the end of the previous year[4]. - The total number of ordinary shareholders at the end of the reporting period was 91,000,000[8]. - The company reported a total of 50 million shares held by the largest shareholder, accounting for approximately 54.95% of total shares[9]. - The top ten shareholders collectively hold a significant portion of the company's shares, with the largest shareholder being a natural person[10]. - The company has not disclosed any significant changes in shareholder relationships or actions during the reporting period[10].

Financial Performance - The company's operating revenue for Q1 2025 was CNY 662,572,873.60, a slight increase of 0.03% compared to CNY 662,403,655.72 in the same period last year[3]. - Net profit attributable to shareholders was CNY 92,043,128.70, reflecting a year-on-year increase of 1.65% from CNY 90,549,512.46[3]. - Basic earnings per share rose to CNY 0.14, up 7.69% from CNY 0.13 in the previous year[3]. - Total operating revenue for Q1 2025 was approximately ¥662.57 million, a slight increase from ¥662.40 million in Q1 2024, representing a growth of 0.03%[16]. - Net profit for Q1 2025 was approximately ¥85.40 million, slightly down from ¥85.47 million in Q1 2024, indicating a decrease of 0.08%[17]. - The company achieved a gross profit of approximately ¥243.66 million in Q1 2025, compared to ¥227.28 million in Q1 2024, marking an increase of about 7.2%[16]. - The total comprehensive income for Q1 2025 was approximately ¥94.63 million, an increase from ¥80.41 million in Q1 2024, representing a growth of about 17.6%[17]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 12,037,085,995.27, representing a 4.20% increase from CNY 11,552,201,218.57 at the end of the previous year[4]. - The company's total current assets increased to CNY 4,033,455,176.00, up from CNY 3,742,248,497.84 as of December 31, 2024, representing a growth of approximately 7.8%[11]. - Total non-current assets reached CNY 8,003,630,819.27, compared to CNY 7,809,952,720.73, showing an increase of approximately 2.5%[12]. - The company's total liabilities increased to CNY 6,872,169,654.59 from CNY 6,484,679,283.92, representing a growth of about 6.0%[13]. - The total equity attributable to shareholders rose to CNY 4,730,973,969.30 from CNY 4,626,953,629.75, reflecting an increase of approximately 2.2%[13]. Cash Flow - The net cash flow from operating activities was negative at CNY -156,957,956.73, compared to CNY -70,703,478.23 in the same period last year, indicating a significant decline[3]. - The company reported a net cash outflow from operating activities of approximately ¥156.96 million in Q1 2025, compared to an outflow of ¥70.70 million in Q1 2024, reflecting a worsening cash flow situation[20]. - Cash and cash equivalents at the end of Q1 2025 totaled approximately ¥207.12 million, down from ¥425.26 million at the end of Q1 2024, a decrease of about 51.3%[21]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 21,374[8]. - The largest shareholder, Huoshan Yingliu Investment Management Co., Ltd., holds 27.37% of the shares, with 90,000,000 shares pledged[8]. - The company has not reported any significant changes in shareholder participation in margin financing or securities lending activities[10]. Operational Efficiency - Total operating costs decreased to approximately ¥583.91 million in Q1 2025 from ¥599.98 million in Q1 2024, a reduction of about 2.0%[16]. - Research and development expenses for Q1 2025 were approximately ¥59.59 million, down from ¥72.05 million in Q1 2024, a decrease of about 17.2%[16]. - The company incurred a credit impairment loss of approximately ¥10.19 million in Q1 2025, significantly higher than the loss of ¥1.31 million in Q1 2024[16]. Management Assurance - The company is focused on maintaining financial transparency and accuracy in its reporting, as emphasized by the management's assurance of the report's integrity[2].

Financial Performance - The company's operating revenue for Q1 2025 was CNY 1,101,529,739.31, a decrease of 25.81% compared to CNY 1,484,645,097.64 in the same period last year[4] - Net profit attributable to shareholders was CNY 181,073,505.84, down 24.24% from CNY 239,018,826.73 year-on-year[4] - Basic and diluted earnings per share were both CNY 0.2324, reflecting a decline of 25.44% from CNY 0.3117 in the prior year[4] - The company reported a significant decline in sales revenue, which primarily impacted cash flow from operating activities[7] - The net profit attributable to the parent company for Q1 2025 was CNY 181 million, down CNY 57.95 million or 24.24% compared to the same period last year[11] - The net profit for Q1 2025 was CNY 181,341,414.31, a decrease of 30.7% compared to CNY 261,710,017.71 in Q1 2024[19] - The total comprehensive income for Q1 2025 was CNY 181,329,927.20, down from CNY 261,710,359.49 in Q1 2024, reflecting a decline of 30.7%[19] Cash Flow - The net cash flow from operating activities decreased by 70.75%, amounting to CNY 117,833,639.29 compared to CNY 402,801,054.38 in the previous year[4] - Cash flow from operating activities for Q1 2025 was CNY 117,833,639.29, significantly lower than CNY 402,801,054.38 in Q1 2024, a decline of 70.8%[22] - The company reported a decrease in cash received from sales of goods and services, totaling CNY 1,282,656,506.71 in Q1 2025, down from CNY 1,663,905,483.36 in Q1 2024, a decline of 22.8%[22] - The company's total operating cash inflow for Q1 2025 was CNY 1,300,631,539.42, compared to CNY 1,679,597,423.16 in Q1 2024, reflecting a decrease of 22.5%[22] - Cash flow from investing activities generated a net inflow of CNY 25,857,147.38 in Q1 2025, compared to a net outflow of CNY 770,991.74 in Q1 2024[23] - Cash flow from financing activities resulted in a net inflow of CNY 352,773,766.91 in Q1 2025, contrasting with a net outflow of CNY 195,817,022.67 in Q1 2024[23] Assets and Liabilities - Total assets at the end of the reporting period were CNY 8,533,509,036.69, an increase of 3.60% from CNY 8,236,864,901.22 at the end of the previous year[5] - The total assets of the company as of March 31, 2025, amounted to CNY 8.53 billion, an increase from CNY 8.24 billion at the end of 2024[14] - The total liabilities increased to CNY 2.57 billion as of March 31, 2025, compared to CNY 2.47 billion at the end of 2024[15] - The company's cash and cash equivalents increased to CNY 1.19 billion from CNY 692.60 million at the end of 2024[13] Operating Costs and Expenses - The company's operating costs for Q1 2025 were CNY 904 million, down from CNY 1.20 billion in Q1 2024, reflecting a decrease of 24.66%[17] - Research and development expenses for Q1 2025 were CNY 31.54 million, down from CNY 42.64 million in the same period last year[17] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 61,033[9] - The largest shareholder, Zhongshan Torch Group Co., Ltd., held 11.02% of the shares, totaling 86,344,162 shares[9] Other Income - Non-recurring gains and losses totaled CNY 929,456.42 for the period, with significant contributions from government subsidies and investment income from time deposits[6] - The revenue from the headquarters increased by 90.87% year-on-year to CNY 15.03 million, primarily due to increased sales of commercial housing[11] - The revenue from Meiwai Xian Company decreased by 25.94% year-on-year to CNY 1.08 billion, mainly affected by the timing of the Spring Festival[11] Return on Equity - The weighted average return on equity decreased by 1.74 percentage points to 3.17% from 4.91% in the previous year[4]

Financial Performance - The company's operating revenue for Q1 2025 was CNY 668,013,586.98, representing a 1.45% increase compared to CNY 658,452,180.59 in the same period last year[4]. - Net profit attributable to shareholders decreased by 8.07% to CNY 35,866,613.96 from CNY 39,016,474.80 year-on-year[4]. - Basic and diluted earnings per share both decreased by 11.11% to CNY 0.08 from CNY 0.09 in the same period last year[4]. - Total operating revenue for Q1 2025 was CNY 668,013,586.98, a slight increase of 1.7% compared to CNY 658,452,180.59 in Q1 2024[16]. - Net profit for Q1 2025 decreased to CNY 35,866,613.96, down 8.2% from CNY 39,016,474.80 in Q1 2024[17]. Cash Flow - The net cash flow from operating activities improved significantly, with a net outflow of CNY 99,150,421.84 compared to a net outflow of CNY 203,826,234.11 in the previous year[4]. - Cash flow from operating activities for Q1 2025 was negative at CNY -99,150,421.84, an improvement from CNY -203,826,234.11 in Q1 2024[20]. - Cash flow from investing activities for Q1 2025 was negative at CNY -82,323,294.88, compared to a positive CNY 40,108,481.51 in Q1 2024[21]. - Cash flow from financing activities for Q1 2025 was positive at CNY 185,024,535.67, reversing from a negative CNY -38,297,080.92 in Q1 2024[21]. - The ending cash and cash equivalents balance for Q1 2025 was CNY 812,782,159.55, up from CNY 300,808,012.66 in Q1 2024[21]. Assets and Liabilities - Total assets at the end of the reporting period increased by 2.26% to CNY 3,436,676,547.52 from CNY 3,360,614,930.49 at the end of the previous year[5]. - The company's current assets totaled RMB 1,830,273,181.10, a decrease from RMB 1,939,094,612.22 in the previous period, indicating a decline of about 5.62%[12]. - The total liabilities of the company increased to RMB 1,561,973,576.77 from RMB 1,523,359,289.24, marking an increase of approximately 2.54%[13]. - The company's equity attributable to shareholders rose to RMB 1,874,702,970.75 from RMB 1,837,255,641.25, reflecting an increase of about 2.00%[13]. - The company's cash and cash equivalents increased to RMB 814,380,786.28 from RMB 809,911,056.20, showing a slight increase of approximately 0.58%[11]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 18,591[8]. - The largest shareholder, Shanghai Libate Investment Co., Ltd., holds 40.85% of the shares, totaling 183,454,670 shares[8]. Inventory and Receivables - The company reported a total inventory of RMB 143,574,978.29, up from RMB 137,808,406.57, indicating an increase of approximately 4.99%[12]. - Accounts receivable decreased significantly from RMB 411,891,592.87 to RMB 205,405,106.63, representing a decline of about 50.16%[11]. Research and Development - Research and development expenses for Q1 2025 were CNY 10,428,898.90, a decrease of 33.1% compared to CNY 15,606,173.66 in Q1 2024[16]. Other Comprehensive Income - Other comprehensive income after tax for Q1 2025 was CNY 99,807.19, compared to a loss of CNY -68,825.10 in Q1 2024[17]. Non-Recurring Gains and Losses - The company reported non-recurring gains and losses, including government subsidies of CNY 701,049.90 and fair value changes of financial assets amounting to CNY 2,027,790.15[6]. Equity and Return on Equity - The weighted average return on equity decreased by 0.45 percentage points to 1.93% from 2.38% year-on-year[4]. - The company held a total of 5,154,000 shares in its repurchase account, accounting for 1.15% of the total share capital[10]. Borrowings - The long-term borrowings increased significantly from RMB 183,612,944.78 to RMB 336,558,445.93, representing an increase of approximately 83.33%[13]. - The company's contract assets surged from RMB 266,798,789.75 to RMB 409,419,757.99, indicating a growth of about 53.34%[12].

Financial Performance - The company's operating revenue for Q1 2025 reached ¥528,305,638.31, representing a year-on-year increase of 33.94% compared to ¥394,420,245.84 in the same period last year[4] - Net profit attributable to shareholders was ¥46,188,475.36, up 7.45% from ¥42,984,391.78 in the previous year[4] - Net profit for Q1 2025 was ¥56,292,078.05, representing a 12.4% increase compared to ¥49,953,650.16 in Q1 2024[19] - Earnings per share for Q1 2025 were ¥0.2586, compared to ¥0.2410 in Q1 2024, reflecting a growth of 7.0%[20] - The company reported a significant increase in investment income, totaling ¥3,356,050.46 in Q1 2025, compared to ¥2,601,127.20 in Q1 2024[19] Cash Flow - The net cash flow from operating activities improved significantly to ¥18,344,196.40, compared to a negative cash flow of ¥8,463,985.39 in the same period last year[4] - Cash inflow from operating activities in Q1 2025 was ¥522,110,602.87, an increase from ¥350,794,072.14 in Q1 2024[22] - The total cash outflow from operating activities was 503,766,406.47, which increased from 359,258,057.53 in the prior period[23] - Cash inflow from financing activities amounted to 227,569,863.02, up from 99,297,098.80 in the last period, showing enhanced financing efforts[23] - The net cash flow from financing activities was 76,752,238.08, a recovery from a negative cash flow of -48,168,511.57 in the previous period[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,369,271,185.39, reflecting an 8.51% increase from ¥4,026,766,847.94 at the end of the previous year[5] - The company's current assets totaled ¥2,799,621,816.50, slightly up from ¥2,770,452,666.20, indicating a growth of about 1.1%[14] - Total liabilities increased to ¥1,856,386,693.11 from ¥1,563,311,494.21, reflecting a growth of about 19%[15] - The company's non-current assets rose to ¥1,569,649,368.89 from ¥1,256,314,181.74, indicating an increase of approximately 25%[14] - The company's equity remained stable at ¥180,953,562.00, unchanged from the previous period[15] Research and Development - Total R&D investment amounted to ¥21,681,000.34, an increase of 38.55% from ¥15,648,185.83 year-on-year, representing 4.10% of operating revenue[5] - The company plans to continue investing in R&D to support new product development and market expansion strategies[7] - Research and development expenses for Q1 2025 amounted to ¥21,681,000.34, up from ¥15,648,185.83 in Q1 2024, indicating a 38.5% increase[18] Market and Operational Insights - The company attributed the revenue growth to increased market expansion and the consolidation of new subsidiaries, with a 15.89% revenue increase when excluding the impact of new consolidations[7] - The company has strengthened accounts receivable management, leading to improved cash flow from sales[7] - The company reported a significant increase in long-term investments, with long-term equity investments rising to ¥62,991,805.62 from ¥6,146,656.56, a growth of approximately 927%[14] Other Financial Metrics - The company reported a weighted average return on equity of 2.08%, an increase of 0.05 percentage points from 2.03% in the previous year[4] - Other comprehensive income after tax for Q1 2025 was -¥402,769.68, an improvement from -¥12,456,513.45 in Q1 2024[20] - The cash paid to employees was 121,835,031.29, up from 98,214,373.86, reflecting increased labor costs[23] - The cash paid for taxes was 21,144,288.74, compared to 14,954,717.82 previously, indicating higher tax obligations[23]