Financial Performance - The company's revenue for Q1 2025 was ¥416,455,198.11, a decrease of 4.10% compared to ¥434,239,654.59 in the same period last year[5] - Net profit attributable to shareholders was ¥2,313,683.63, representing a significant increase of 117.15% from a loss of ¥13,494,795.04 in the previous year[5] - The company reported a significant increase in operating income, with a net profit of ¥2,293,451.40, up 116.80% from a loss of ¥13,649,612.70 in Q1 2024[12] - Basic earnings per share rose to ¥0.0084, compared to a loss of ¥0.0490 per share in the same quarter last year, marking an increase of 117.14%[5] - Total revenue for the period was CNY 416,455,198.11, a decrease of 4.5% from CNY 434,239,654.59 in the previous period[25] - The company reported a net profit of CNY 2,293,451.40, compared to a net loss of CNY 13,649,612.70 in the previous period[25] - The net profit attributable to the parent company was CNY 2,313,683.63, compared to a net loss of CNY 13,494,795.04 in the previous period[26] - The basic and diluted earnings per share were both CNY 0.0084, recovering from a loss of CNY 0.0490 in the previous period[26] Cash Flow - The net cash flow from operating activities improved to ¥57,865,385.54, a turnaround of 116.54% from a negative cash flow of ¥349,756,023.65 in Q1 2024[5] - Cash flow from operating activities generated a net cash inflow of CNY 57,865,385.54, a significant improvement from a net outflow of CNY 349,756,023.65 in the previous period[29] - Total cash inflow from operating activities was CNY 388,125,369.84, while total cash outflow was CNY 330,259,984.30[29] - Cash flow from investing activities surged to ¥46,342,545.35, an increase of 823.98% compared to a negative cash flow of ¥6,401,085.64 in the same period last year[14] - Cash flow from investing activities resulted in a net inflow of CNY 46,342,545.35, compared to a net outflow of CNY 6,401,085.64 in the previous period[29] - Cash flow from financing activities showed a net outflow of CNY 103,594,852.96, worsening from a net outflow of CNY 35,028,992.70 in the previous period[29] Assets and Liabilities - Total assets decreased by 6.66% to ¥2,539,867,554.50 from ¥2,720,978,170.30 at the end of the previous year[5] - Total current assets decreased to CNY 1,938,936,214.30, down 7.5% from CNY 2,096,332,642.06[21] - Total liabilities decreased to CNY 2,485,135,937.15, a decline of 6.9% from CNY 2,668,540,004.35[22] - The company’s cash and cash equivalents decreased to CNY 221,816,370.78 from CNY 232,749,043.86, a decrease of 4.7%[21] - The company’s total assets decreased to CNY 2,539,867,554.50 from CNY 2,720,978,170.30, a decline of 6.6%[22] Shareholder Information - The total number of common shareholders at the end of the reporting period is 26,888[16] - The largest shareholder, Zhuhai Gree Financial Investment Management Co., holds 22.79% of shares, totaling 63,000,000 shares[16] - The second largest shareholder, Wang Guojing, holds 11.07% of shares, totaling 30,602,175 shares, with 30,493,113 shares pledged[16] - The company has a total of 10 major shareholders, with the top 10 holding significant stakes in the company[16] - The total number of restricted shares at the end of the period is 66,000,933 shares, with 30,530,775 shares released during the period[18] - The company has a total of 96,531,708 restricted shares, with 709,280 shares under other equity incentive plans[18] Future Plans - The company plans to issue up to 66,000,000 shares at a price of 7.57 RMB per share, raising a total of no more than 500 million RMB[19] - The company will use the raised funds to supplement working capital and repay debts[19] - The company plans to focus on new product development and market expansion strategies in the upcoming quarters[25] Other Information - The company experienced a 292.27% increase in credit impairment losses, amounting to ¥12,797,294.20, due to increased sales collections and recovery of bad debts[12] - The company reported a decrease in sales expenses by 30.48%, reflecting improved cost control measures[12] - The company has not reported any changes in the number of shares lent or returned through margin trading[17] - The company’s stock issuance plan has been approved by the second extraordinary general meeting of shareholders in 2025[19] - The company did not undergo an audit for the first quarter report[31]

Financial Performance - The company's revenue for Q1 2025 was ¥5,954,973,095.50, a decrease of 16.71% compared to ¥7,149,293,164.43 in the same period last year[5] - Net profit attributable to shareholders was ¥192,365,878.40, down 44.68% from ¥347,722,453.72 year-on-year[5] - Basic and diluted earnings per share decreased by 42.86% to ¥0.08 from ¥0.14 in the same period last year[5] - The company reported a decrease in net profit of 47.92% due to lower market demand and intensified industry competition, leading to reduced revenue and gross margin[9] - Net profit for the period was CNY 177,919,580.95, a decline of 47.9% from CNY 341,609,350.33 in the same period last year[26] - The total comprehensive income for the period was CNY 179,617,210.06, down from CNY 344,196,299.01 in the same period last year[26] Cash Flow and Financing - The net cash flow from operating activities improved by 56.98%, reaching -¥812,784,159.95 compared to -¥1,889,121,570.11 in the previous year[5] - The net cash flow from financing activities increased by 157.01% to ¥934,285,313.82, attributed to net increases in external financing[9] - Total cash inflow from financing activities increased to 4,891,478,051.12 compared to 2,435,165,413.00 in the prior period[28] - The company reported a net cash outflow from operating activities of 6,551,123,524.90, down from 9,331,191,726.16 in the previous period[27] Assets and Liabilities - Total assets increased by 1.14% to ¥45,223,777,457.08 from ¥44,715,448,811.80 at the end of the previous year[5] - Total liabilities rose to CNY 22,467,202,255.84, up from CNY 19,401,434,047.07[23] - The company's equity attributable to shareholders decreased by 10.11% to ¥22,412,268,596.07 from ¥24,934,259,584.77 at the end of the previous year[5] Operational Costs and Expenses - Total operating costs decreased to CNY 5,610,549,712.37, down 14.3% from CNY 6,548,229,326.83[25] - Management expenses decreased by 34.08% to ¥361,521,682.02, primarily due to reductions in employee compensation and consulting fees[9] - Research and development expenses were CNY 98,542,511.48, down 21.9% from CNY 126,125,594.35[25] - The company reported a decrease in sales expenses to CNY 540,093,126.95, down 28.2% from CNY 752,826,027.02[25] Share Repurchase - The total amount used for share repurchase has exceeded the lower limit of RMB 500 million and is within the upper limit of RMB 1 billion[14] - The company repurchased a total of 47,615,662 shares, accounting for 1.9544% of the total share capital, with a total transaction amount of RMB 599,909,104[15] - The company plans to use its own or raised funds to repurchase shares through centralized bidding, with a maximum repurchase price set at RMB 19.30 per share[14] - The company has completed the cancellation of the repurchased shares during the reporting period[15] Inventory and Receivables - Accounts receivable increased from RMB 7,340,825,504.11 to RMB 8,371,126,000.27, representing an increase of about 14.06%[21] - Inventory rose from RMB 1,827,338,699.07 to RMB 1,990,768,315.05, indicating an increase of approximately 8.93%[21] - The company's total current assets decreased from RMB 24,342,835,711.42 to RMB 23,885,502,934.34, a decline of about 1.88%[21] Other Financial Metrics - The company's cash and cash equivalents decreased from RMB 7,259,285,510.48 to RMB 6,908,787,754.57, a decline of approximately 4.82%[21] - The company's long-term equity investments slightly decreased from RMB 84,996,902.85 to RMB 83,524,290.07, a decline of about 1.73%[21] - The company’s intangible assets decreased from RMB 2,368,597,015.47 to RMB 2,244,158,804.89, representing a decrease of approximately 5.23%[21] - Other comprehensive income for the period was CNY 14,748,133.69, compared to CNY 12,883,396.81 in the previous period[23] Market and Product Development - The company did not report any significant new product developments or market expansions during the call[29]

Financial Performance - The company's operating revenue for 2024 was ¥2,122,505,121.70, a decrease of 29.92% compared to ¥3,028,811,074.37 in 2023[19]. - The net profit attributable to shareholders for 2024 was -¥191,623,150.97, showing an improvement of 63.08% from -¥519,081,912.84 in 2023[19]. - The total assets at the end of 2024 were ¥2,720,978,170.30, down 30.32% from ¥3,905,005,898.56 at the end of 2023[19]. - The basic earnings per share for 2024 was -¥0.70, a 70.71% improvement from -¥2.39 in 2023[19]. - The company reported a net cash flow from operating activities of -¥172,827,266.07 in 2024, a decline of 77.50% compared to -¥97,366,596.99 in 2023[19]. - The company’s net assets attributable to shareholders decreased by 79.68% to ¥53,408,231.49 at the end of 2024 from ¥262,833,269.05 at the end of 2023[19]. - The company achieved total operating revenue of ¥2,122,505,121.70 in 2024, a decrease of 29.92% year-on-year[62]. - The net profit attributable to shareholders was -¥191,623,150.97, representing a year-on-year reduction in losses of 63.08%[62]. - Revenue from the materials business was ¥1,257,589,942.23, accounting for 59.25% of total revenue, down 36.42% from the previous year[68]. - Revenue from the equipment business was ¥864,915,179.47, making up 40.75% of total revenue, a decrease of 17.69% year-on-year[68]. Operational Highlights - The company has a dedicated investor relations team, with contact details provided for inquiries[15]. - The annual report is available on the Shenzhen Stock Exchange website and other designated media[16]. - The company is classified under the "Electronic Special Materials Manufacturing" sector, which is part of the "Computer, Communication and Other Electronic Equipment Manufacturing" industry[28]. - The company has established a dual-driven business model focusing on new energy positive materials and intelligent equipment, becoming an important participant in the new energy industry[32]. - The company has invested in the research and industrialization of sodium-ion battery positive materials, lithium-free positive materials, and high-nickel ternary positive materials for solid-state batteries[34]. - The company’s core products include high-capacity lithium cobalt oxide and high-nickel ternary materials, with applications in electric vehicles, consumer electronics, and energy storage systems[36]. - The company’s intelligent equipment segment focuses on high-precision coating technology and integrates smart production lines, providing key equipment for lithium-ion battery production[37]. - The company has established long-term stable partnerships with major battery manufacturers through strategic cooperation and joint R&D, enhancing customer stickiness and driving new product development[52]. Research and Development - The company has invested approximately 470 million yuan in R&D over the past three years, establishing multiple research platforms, including a national postdoctoral research station and provincial engineering technology research centers[56]. - The company has received 99 effective patents in materials business and 126 in equipment business, covering core formulations and key preparation processes in new energy cathode materials and intelligent equipment design[57]. - The R&D model emphasizes technological innovation as the core driver of development, aligning with national carbon neutrality strategies[48]. - The company has established a dual-line product model combining core products led by the company and foundational products developed in collaboration with external partners[48]. - The company is actively upgrading existing products for small and medium-sized customers, further enhancing customer trust and expanding its client base[54]. Market Trends and Industry Insights - In 2024, the global penetration rate of new energy vehicles is expected to reach 20-22%, a year-on-year increase of approximately 24 percentage points, significantly lower than the average annual growth rate of 35 percentage points from 2021 to 2023[29]. - The global new energy storage capacity is projected to add 158 GWh in 2024, representing a year-on-year growth of 29%, which is considerably lower than the average annual growth rate of 65% from 2021 to 2023[29]. - The global power battery planned capacity for 2024 is expected to decrease by 45% year-on-year, indicating a structural adjustment phase focused on technological breakthroughs and cost control[30]. - The Chinese energy storage market saw a 210% year-on-year increase in new installations in the first half of 2024, although the actual grid connection rate remains below 50%[29]. - The domestic new energy vehicle market is expected to expand further, with a projected cumulative installed capacity of 548.4 GWh for power batteries in 2024, a year-on-year increase of 41.5%[55]. Corporate Governance and Management - The company completed the election of the sixth board of directors and its specialized committees, ensuring compliance with relevant regulations[123]. - The company maintains a complete and independent business system, ensuring operational independence from its controlling shareholders[125]. - The company has established a robust financial accounting system, maintaining independent financial management and tax reporting[129]. - The company has independent production and office facilities, ensuring no mixed operations with controlling shareholders[130]. - The company is focusing on enhancing its corporate governance through the election of new independent directors[136]. - The company has seen a total of 62,000 shares in stock options for the vice president, with a reduction of 600 shares due to repurchase[136]. - The company has a performance-based salary system for senior management, which includes a basic salary and performance bonuses[153]. - The company has established a management system for director and supervisor remuneration, approved by the shareholders' meeting[153]. Risk Management - The company is committed to building a modern enterprise management system and enhancing its ESG governance to support sustainable development[108]. - The company has implemented measures to mitigate raw material price volatility risks by optimizing procurement strategies and establishing long-term supply agreements with key suppliers[117]. - The company has established a raw material price warning mechanism to adjust procurement plans proactively when prices approach preset warning values[117]. - The company is enhancing its accounts receivable management system to address collection risks, particularly from clients in the new energy battery manufacturing sector[118]. - The company has formed an accounts receivable management team to conduct dynamic tracking and risk assessment of customer credit status[118]. Employee Management and Welfare - The total number of employees at the end of the reporting period is 1,215, with 399 in the parent company and 816 in major subsidiaries[164]. - The company has established a comprehensive salary system and performance evaluation system to incentivize employees based on their performance[166]. - The company provides a robust welfare policy and various activities to enhance employee satisfaction and belonging[166]. - The training plan includes management, skills, and general training to improve employee skills and overall quality[167]. - The company has a positive bonus scheme specifically for research and sales personnel to boost motivation[166]. Future Outlook and Strategic Plans - The company aims to achieve significant milestones in the next 3-5 years, including the commercialization of solid-state batteries and the scaling of sodium battery storage[31]. - The company plans to accelerate its capital increase efforts in 2025 to support business development and improve asset structure[109]. - The company will implement a "cost reduction and efficiency enhancement" strategy across all processes, targeting reductions in energy, manufacturing, and raw material costs[113]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its product portfolio[142]. - The company is focused on leveraging its financial expertise to drive growth and innovation in its business operations[143].

Financial Performance - The company's revenue for Q1 2025 was ¥30,309,373,926.52, a decrease of 17.50% compared to ¥36,738,885,261.85 in the same period last year[5] - Net profit attributable to shareholders increased by 38.19% to ¥341,165,717.89 from ¥246,888,251.61 year-on-year[5] - The net profit excluding non-recurring gains and losses surged by 239.46% to ¥292,850,923.80 compared to ¥86,270,488.25 in the previous year[5] - Total operating revenue for the current period is ¥30,309,373,926.52, a decrease of 17.5% from ¥36,738,885,261.85 in the previous period[18] - Net profit attributable to the parent company is ¥341,165,717.89, compared to ¥246,888,251.61 in the previous period, representing a 38.0% increase[19] Cash Flow - The net cash flow from operating activities was negative at -¥2,691,660,545.33, a decline of 374.38% from ¥981,011,987.36 in the same period last year[5] - Cash flow from operating activities is ¥40,080,723,863.44, slightly down from ¥40,901,138,091.25, a decrease of 2.0%[21] - The net cash flow from operating activities was -$2.69 billion, a decrease from $981 million in the previous period[22] - Cash inflow from investment activities totaled $353 million, compared to $43 million last year[22] - The net cash flow from financing activities increased to $6.33 billion, up from $5.02 billion in the previous period[22] - Cash outflow for purchasing goods and services was $38.63 billion, up from $35.90 billion in the previous period[22] - The company paid $2.56 billion in taxes, a slight decrease from $2.64 billion last year[22] - Cash inflow from other operating activities was $2.45 billion, compared to $2.40 billion previously[22] - The company reported a cash outflow of $24.57 billion for financing activities, an increase from $18.12 billion last year[22] - The impact of exchange rate changes on cash and cash equivalents was $44.53 million, compared to a negative impact of $30.44 million last year[22] Assets and Liabilities - Total assets increased by 5.14% to ¥214,805,088,726.57 from ¥204,312,488,701.89 at the end of the previous year[5] - Total liabilities rose to ¥176,503,447,788.84, up from ¥166,840,344,822.36, indicating a 8.0% increase[17] - The company's total equity increased to ¥38,301,640,937.73 from ¥37,472,143,879.53, reflecting a growth of 2.2%[17] - Total current assets reached ¥47,337,586,037.77, up from ¥36,926,353,376.68, reflecting a growth of approximately 28.5%[15] - The total amount of other current assets increased to ¥2,892,378,828.64 from ¥1,813,789,331.40, representing a growth of about 59.4%[15] Inventory and Prepayments - Prepayments increased significantly by 202.02% to ¥1,586,451,920.39, primarily due to an increase in advance payments for goods[9] - Inventory rose by 31.38% to ¥22,167,299,157.00, mainly due to an increase in raw materials and finished goods[9] - Inventory rose significantly to ¥22,167,299,157.00 from ¥16,873,219,225.01, indicating an increase of about 31.5%[15] Earnings and Returns - The company's basic earnings per share rose by 25.00% to ¥0.05 from ¥0.04 year-on-year[5] - The weighted average return on equity increased by 0.31 percentage points to 1.00% compared to 0.69% in the previous year[5] - The basic earnings per share for the current period is ¥0.05, up from ¥0.04 in the previous period, indicating a 25.0% increase[19] Research and Development - Research and development expenses decreased to ¥168,826,342.93 from ¥225,891,622.08, a reduction of 25.3%[18] - The company is focused on expanding its market presence and enhancing its product offerings through ongoing research and development initiatives[13] Other Income and Guarantees - Other income surged by 464.11% to ¥781,557,917.85, primarily due to increased VAT credit deductions[9] - The company provided a guarantee of $300 million for energy transactions related to its subsidiary, indicating a strategic move to enhance operational capabilities[13] Shareholding Structure - The company has not disclosed any changes in the shareholding structure of its top shareholders, maintaining stability in its ownership[12]

Financial Performance - The company reported a significant increase in revenue, reaching 1.2 billion CNY, representing a 15% year-over-year growth[20]. - The company's operating revenue for 2024 was approximately ¥137.67 billion, a decrease of 1.97% compared to ¥140.44 billion in 2023[22]. - The net profit attributable to shareholders for 2024 was a loss of approximately ¥2.30 billion, representing a decline of 420.33% from a profit of ¥717 million in 2023[22]. - The company reported a basic earnings per share of -¥0.35 for 2024, a decrease of 418.18% from ¥0.11 in 2023[22]. - The gross margin improved to 35%, up from 32% in the previous year, reflecting better cost management[20]. - The company's total revenue for 2024 was approximately ¥137.67 billion, a decrease of 1.97% compared to ¥140.44 billion in 2023[107]. - Revenue from the petrochemical and chemical new materials segment was ¥108.28 billion, accounting for 78.65% of total revenue, down 5.54% from ¥114.63 billion in 2023[107]. - The chemical fiber segment generated ¥27.15 billion in revenue, representing a 13.17% increase from ¥23.99 billion in the previous year[107]. - The company's gross profit margin for the petrochemical and chemical new materials segment was 8.60%, a decrease of 3.80% year-on-year[109]. Market Expansion and Development - The company is expanding its market presence in Southeast Asia, targeting a 25% increase in market share within the next year[20]. - The company has provided a positive outlook for the next quarter, projecting a revenue growth of 10% to 12%[20]. - The company is focusing on the new energy materials sector, expanding into upstream lithium battery raw materials such as battery separators and electrolyte solvents[52]. - The company is actively involved in new energy and technology sectors, with several subsidiaries focused on energy storage and new materials[191]. - The company plans to continue expanding its production capacity and technological advancements in the coming years[88]. Research and Development - Research and development investments have increased by 30%, focusing on innovative chemical fiber technologies[20]. - The company is investing $50 million in R&D for new technologies aimed at enhancing product efficiency[5]. - The company has developed the world's first complete industrial chain from carbon dioxide to polyester fiber, winning the "International Textile Federation Sustainable and Innovation Award"[100]. - The company holds a total of 640 patents, including 229 invention patents, reflecting its strong focus on technological innovation[101]. - The company is focusing on R&D and production of differentiated, low-carbon, and high-performance fiber products[88]. Sustainability Initiatives - The company plans to implement new sustainability initiatives, aiming for a 50% reduction in carbon emissions by 2025[20]. - The company has a green production system that includes the industry's first 100,000 tons/year "green methanol from carbon dioxide" production chain and approximately 600,000 tons/year recycled polyester filament production chain[82]. - The company has launched the "reocoer" carbon capture fiber, which utilizes carbon capture technology to reduce carbon emissions during production[64]. - The company is committed to green development, focusing on energy conservation, emission reduction, and the utilization of CO2 recycling projects to create a sustainable low-carbon industrial chain[155]. Strategic Partnerships and Acquisitions - A strategic acquisition of a local competitor is in progress, aimed at enhancing production capacity and operational efficiency[20]. - The company has established a new partnership with a leading technology firm to enhance its digital capabilities[20]. - The company is exploring acquisition opportunities, targeting firms with a combined revenue of $200 million[7]. - The company has formed a comprehensive chemical raw material supply platform through integrated refining and multi-product production, enhancing its resilience against market fluctuations[56]. Risk Management - The management team emphasizes the importance of risk awareness regarding forward-looking statements and potential challenges in future development[5]. - The company has established effective risk control measures for derivative investments, including annual hedging plans and thorough assessments of market risks[136]. - The company has established a dedicated HSE department to manage safety and environmental issues, implementing a series of safety production management and environmental protection systems[161]. - The company faces macroeconomic volatility risks that could impact its performance due to its ties to key industries like energy and transportation[157]. Governance and Management - The company has established a comprehensive internal control system to enhance risk prevention capabilities and improve management efficiency[83]. - The company maintains complete independence from its controlling shareholders in business, personnel, assets, institutions, and finance, ensuring autonomous operational capabilities[169]. - The company has a clear ownership and control over its assets, with no instances of fund or asset occupation by controlling shareholders[170]. - The company has conducted multiple investor communication activities, including offline and online meetings, to discuss business operations and future developments[164]. Financial Health and Investments - The net cash flow from operating activities increased by 25.55% to approximately ¥10.47 billion in 2024, compared to ¥8.34 billion in 2023[22]. - The company’s total cash and cash equivalents increased by 248.78% year-on-year, reaching ¥5,623,427,513.46[119]. - The company’s investment activities generated a net cash outflow of ¥12,098,746,295.50, a 45.12% improvement compared to the previous year[119]. - The company has reported a significant decline in overseas revenue, which fell by 47.63% to ¥6.75 billion, compared to ¥12.89 billion in 2023[107]. Leadership and Shareholder Engagement - The company held three temporary shareholder meetings in 2024, with approval rates of 67.95%, 66.53%, and 67.90% respectively[173][174][175]. - The company experienced a change in senior management, with Qiu Hairong resigning as Vice General Manager and Financial Officer on October 18, 2024, due to work adjustments[176]. - The company is preparing for its annual meeting, indicating ongoing operational and strategic planning efforts[173]. - The company’s financial reporting and shareholder meetings reflect a commitment to transparency and shareholder engagement[173].

Financial Performance - The company's operating revenue for 2024 was CNY 258,528,645.65, representing a 37.45% increase compared to CNY 188,089,722.73 in 2023[23]. - The net loss attributable to shareholders for 2024 was CNY -125,014,586.91, a slight improvement of 1.18% from CNY -126,511,280.83 in 2023[23]. - The net cash flow from operating activities was CNY 53,279,121.66, showing a significant increase of 1,681.11% compared to a net outflow of CNY -3,369,730.59 in 2023[23]. - The total assets at the end of 2024 were CNY 378,990,441.50, a decrease of 27.76% from CNY 524,661,870.82 at the end of 2023[23]. - The net assets attributable to shareholders decreased by 31.91% to CNY 257,716,774.46 at the end of 2024 from CNY 378,518,098.42 at the end of 2023[23]. - The basic earnings per share for 2024 was CNY -0.1948, a slight improvement of 1.17% from CNY -0.1971 in 2023[23]. - The company reported a government subsidy of CNY 227,511.80 in 2024, down from CNY 553,022.33 in 2023[29]. - The company experienced a non-recurring loss from the disposal of non-current assets amounting to CNY -102,836.38 in 2024[29]. - The company’s other operating income and expenses included a loss of CNY -377,467.85 in 2024, compared to a loss of CNY -2,152,516.51 in 2023[30]. Revenue Breakdown - The company's total revenue for Q1 was approximately CNY 17.35 million, Q2 was CNY 117.05 million, Q3 was CNY 69.84 million, and Q4 was CNY 54.29 million[25]. - The smart hardware business generated ¥121,958,276.50, accounting for 47.17% of total revenue, but saw a decline of 30.90% from ¥176,505,815.47 in the previous year[59]. - Digital intelligent services revenue surged by 123.10% to ¥26,421,958.19, up from ¥11,843,060.19 in 2023, representing 10.22% of total revenue[59]. - The company reported a significant increase in export revenue, which reached ¥99,264,459.03, a staggering growth of 78,947.89% compared to ¥125,575.09 in 2023[59]. - The overall revenue from the construction materials sales segment was negative at -¥395,297.11, indicating challenges in this area[59]. - Revenue from digital intelligent services increased by 123.10% year-over-year, reaching 26,421,958.1[62]. - The revenue from the digital intelligent platform surged by 873.78% year-over-year, amounting to 17,804,333.1[62]. Business Strategy and Market Position - The company is positioned to benefit from the government's push for digital infrastructure, including 5G and cloud computing, which are critical for industry growth[36]. - The construction industry's information technology investment in China is only 0.08% of total output, compared to 1% in developed countries, highlighting a substantial growth opportunity for the company[35]. - The company is aligned with national policies promoting technological innovation and digital transformation, which are expected to enhance its competitive edge[37]. - The company focuses on new digital infrastructure as a digital technology cloud service provider, aligning with national strategies such as the "14th Five-Year Plan" and "Digital China" to enhance its digital business strategy[40]. - The company has established a new business structure centered on intelligent hardware and digital intelligent services, aiming to provide comprehensive solutions for the digital transformation of downstream industries[41]. - The company signed a strategic cooperation agreement with Dongjie Intelligent Technology Group to enhance long-term stable partnerships and resource sharing[53]. - The company is focusing on national strategic core areas such as the Yangtze River Delta and the Guangdong-Hong Kong-Macao Greater Bay Area for business expansion[50]. Operational Efficiency and Management - The company aims to enhance operational efficiency through cost reduction and improved management of subsidiaries, focusing on risk control and effective fund utilization[55]. - The company plans to optimize talent management to improve per capita efficiency and revenue generation capabilities[55]. - The company is committed to complying with regulatory requirements for information disclosure, ensuring the accuracy and timeliness of financial reporting[56]. - The company has established a market value management system to enhance investment value and investor returns, with a plan approved by the board[104][105]. - The company is committed to improving operational efficiency and profitability through measures such as equity incentives and cash dividends[105]. - The company will implement refined management practices across various operational segments to improve efficiency and reduce costs, leveraging AI and digital management tools[99]. Research and Development - The company has established 169 software copyrights and 40 patents through years of investment in independent research and development[47]. - The research and development model includes a product R&D center and a project development center, focusing on core technologies and specific project requirements to reduce implementation costs[45]. - The company plans to enhance its research and development capabilities, aiming to introduce new products that meet market demands and improve core competitiveness[98]. - The company aims to establish partnerships with top universities and research institutions to foster innovation and expand its R&D team[101]. - R&D investment amounted to ¥8,450,768.97 in 2024, a decrease of 29.63% from ¥12,019,415.43 in 2023[74]. - The number of R&D personnel decreased by 40% to 18 in 2024, with a significant reduction in younger staff under 30 years old, down 83.33%[74]. Governance and Compliance - The company has a governance structure that complies with relevant laws and regulations, ensuring independent operations from its controlling shareholder[108][111]. - The company has conducted several shareholder meetings, with participation rates ranging from 0.76% to 25.66%[112]. - The company has established a robust governance structure with specialized committees overseeing various aspects of operations[131]. - The company reported significant internal control deficiencies affecting the accuracy of financial statements, with a negative opinion issued by the auditing firm[147]. - The company has recognized and included the identified major deficiencies in its internal control evaluation report[152]. - The company is responsible for establishing and maintaining effective internal controls as per regulatory guidelines[148]. Employee and Management Changes - The total number of employees at the end of the reporting period is 100, with 9 in the parent company and 91 in major subsidiaries[133]. - The company has seen a turnover of several key management personnel in the past three years, indicating potential shifts in strategy[121]. - The company experienced a board member turnover, with several directors and executives leaving due to personal reasons or term completion[116]. - The company has a structured remuneration decision-making process involving performance evaluations and board approvals[122]. - The total pre-tax remuneration for directors, supervisors, and senior management amounted to 556.92 million CNY[123]. Risks and Challenges - The company faces risks including market competition, technology risks, and goodwill impairment, which are detailed in the management discussion section[5]. - The company acknowledges management risks associated with its expanding scale and is committed to improving its internal control systems and talent management[102]. - The company is facing accounts receivable risks due to long project cycles and complex settlement procedures, which affect timely cash collection[102]. - The company will conduct annual impairment tests on goodwill arising from acquisitions to mitigate risks associated with asset impairment[101].

Financial Performance - The company's operating revenue for 2021 was ¥533,057,591.15, representing a 169.62% increase compared to ¥197,707,828.28 in 2020[19]. - The net profit attributable to shareholders for 2021 was ¥25,779,847.35, a significant recovery from a loss of ¥592,334,520.18 in 2020, marking a 104.35% improvement[19]. - The total assets at the end of 2021 amounted to ¥888,805,389.24, an 85.87% increase from ¥478,192,565.52 at the end of 2020[19]. - The net assets attributable to shareholders increased by 1,114.91% to ¥635,222,996.73 in 2021 from ¥52,285,409.72 in 2020[19]. - The basic earnings per share for 2021 was ¥0.05, recovering from a loss of ¥1.21 per share in 2020, reflecting a 104.13% improvement[19]. - The company reported a net cash flow from operating activities of -¥319,535,925.84 in 2021, worsening from -¥51,342,532.31 in 2020, indicating a 522.36% decline[19]. - The weighted average return on equity for 2021 was 8.30%, a significant recovery from -161.33% in 2020, showing a 169.63% improvement[19]. Revenue Breakdown - Hardware sales accounted for 73.37% of total revenue in 2021, amounting to CNY 391,082,841.86, marking a significant increase from previous periods[63]. - The revenue from software sales and technical services decreased by 26.69% to CNY 113,051,693.18 in 2021, down from CNY 154,204,213.72 in 2020[63]. - The engineering digital cloud service segment saw revenue of 12,433,544.97 CNY, with a gross margin of 44.63%, reflecting a 100% increase in revenue year-on-year[70]. Market and Industry Insights - The software and information technology service industry in China achieved a revenue of 94,994 billion yuan in 2021, with a year-on-year growth of 17.7%[29]. - The construction industry's information technology investment in China is only 0.08% of total output value, significantly lower than the 1% in developed countries, indicating substantial growth potential[31]. - The integration of new technologies such as AI, big data, and cloud computing is driving rapid development in the construction information technology sector[32]. Strategic Initiatives - The company aims to become a digital technology cloud service provider focused on new digital infrastructure, participating deeply in digital building and smart city construction[37]. - The company is enhancing its BIM software development capabilities and aims to increase the proportion of self-developed software in its sales[42]. - The company plans to enhance its BIM consulting services to cover the entire project lifecycle, including planning, design, construction, and operation[54]. Governance and Compliance - The company governance structure complies with relevant laws and regulations, ensuring independent operation from the controlling shareholder[119][122]. - The board consists of seven members, including three independent directors, exceeding the one-third requirement[119]. - The company has established a performance evaluation and incentive mechanism for directors and senior management, aligning with its development status[120]. Risk Management - The company faces various risks including market competition, technology risks, and potential impairment of goodwill[6]. - The company is addressing risks related to accounts receivable by implementing strict internal controls to improve cash flow[115]. - The company recognizes the risk of core personnel turnover and is focused on improving work conditions and incentive schemes to retain talent[116]. Employee and Talent Development - The company has strengthened its talent development initiatives, focusing on training and retaining high-skilled personnel to support long-term growth[60]. - The total employee compensation during the reporting period was 7,366,434.23 yuan, accounting for 1.38% of the company's operating costs[146]. - The company has a training plan aimed at enhancing employee skills and meeting operational needs[147]. Shareholder Engagement - The company conducted nearly 200 interactions with investors through various platforms, enhancing investor relations and communication[61]. - The company held multiple investor meetings throughout 2021, including a performance briefing on May 7, 2021, and several on-site investigations in November and December 2021[117][119][120]. Future Outlook - The company provided a positive outlook for the next quarter, projecting a revenue increase of 25% based on current market trends[135]. - New product launches are expected to contribute an additional 300 million yuan in revenue over the next fiscal year[135]. - The company plans to implement cost-cutting measures that are expected to save approximately 50 million yuan annually[135].

Financial Performance - The company's operating revenue for 2023 was ¥188,089,722.73, a decrease of 49.90% compared to ¥375,400,866.66 in 2022[22]. - The net loss attributable to shareholders for 2023 was ¥126,511,280.83, showing an improvement of 9.78% from a loss of ¥140,223,664.13 in 2022[22]. - The net cash flow from operating activities improved significantly, with a net outflow of ¥3,369,730.59 in 2023, a 93.49% reduction from ¥51,780,314.93 in 2022[22]. - The total assets at the end of 2023 were ¥524,661,870.82, down 27.53% from ¥723,980,616.54 at the end of 2022[22]. - The net assets attributable to shareholders decreased by 24.78% to ¥378,518,098.42 in 2023 from ¥503,245,969.73 in 2022[22]. - The company reported a total of -2,166,573.63 in non-recurring gains and losses for 2023, contrasting with a positive figure of 14,226,989.41 in 2022[30]. - The company achieved total operating revenue of 188.09 million yuan, a 43.39% increase compared to the previous year's revenue of 131.35 million yuan[52]. - The net loss attributable to shareholders decreased to approximately 124.73 million yuan from 131.32 million yuan in the previous year, indicating improved financial performance[52]. - The total operating costs decreased by 52.94% year-on-year, amounting to 161,149.29 million in 2023 compared to 342,431.64 million in 2022[68]. Revenue Breakdown - The company's total revenue for 2023 was ¥188,089,722.73, representing a 49.90% decrease compared to ¥375,400,866.66 in 2022[61]. - The smart hardware business accounted for ¥176,505,815.47, which is 93.84% of total revenue, down 47.84% from ¥338,415,051.46 in the previous year[61]. - Digital intelligent services revenue decreased by 68.18%, from ¥37,223,829.87 to ¥11,843,060.19, representing 6.30% of total revenue[62]. - The revenue from intelligent hardware products dropped by 69.88% year-on-year, totaling 69,821.20 million in 2023[69]. - The digital intelligent service segment's revenue decreased by 79.57% year-on-year, totaling 6,038.55 million in 2023[69]. - The revenue from space board sales and installation surged by 219.96% year-on-year, amounting to 824.77 million in 2023[69]. Strategic Initiatives - The company plans not to distribute cash dividends or issue bonus shares for the year[7]. - The company is focused on innovation within its industry and does not face issues such as overcapacity or technological obsolescence[4]. - The company is exploring new technologies such as artificial intelligence and cloud computing to maintain competitive advantages in the market[36]. - The company is focused on the "Shuzhengtong" project, which aims to enhance digital government services and is aligned with national strategic requirements[76]. - The company aims to launch its own brand hardware through its subsidiary, Super Cube, to strengthen its position in the terminal hardware sector[58]. - The company signed a strategic cooperation framework agreement with the Ministry of Emergency Management and Tencent Cloud to enhance digital technology services[56]. - The company is committed to providing high-quality, cost-effective digital transformation solutions for various industries[100]. Research and Development - The company holds 169 software copyrights and 40 patents, showcasing its commitment to independent innovation and technology development[47]. - The research and development structure includes a product R&D center and a project development center, focusing on core technologies and specific project requirements to optimize implementation costs[45]. - The company reported R&D expenditure of ¥12,019,415.43 in 2023, representing 6.39% of its operating revenue, an increase from 3.92% in 2022[79]. - The number of R&D personnel decreased by 45.45% from 55 in 2022 to 30 in 2023, with the proportion of R&D staff dropping from 33.13% to 24.19%[79]. - The company has shifted its R&D strategy to focus on commercially viable features, reflecting a reallocation of R&D investments[80]. Governance and Compliance - The company has established a governance structure that complies with relevant laws and regulations, ensuring independent operation from the controlling shareholder[107]. - The board consists of seven members, including three independent directors, exceeding one-third of the total[107]. - The company has a complete performance evaluation and incentive mechanism for directors and senior management, aligning with its development status[108]. - The company has conducted multiple shareholder meetings in 2023, including two temporary meetings with participation rates of 23.95% and 23.80%[111]. - The company has not faced any administrative penalties due to environmental issues during the reporting period[148]. - The company has fulfilled all commitments made by actual controllers, shareholders, and related parties as of the end of the reporting period[151]. Market Position and Opportunities - The digital economy in China has grown from 11 trillion yuan to over 45 trillion yuan from 2012 to 2021, indicating a significant market opportunity for the company[34]. - The construction industry's information technology investment in China is only 0.08% of total output, suggesting substantial growth potential for digital solutions[35]. - The company is positioned to benefit from national policies promoting technological innovation and digital economy development[37]. - The company has established a nationwide business layout, focusing on key strategic areas such as the Yangtze River Delta and the Guangdong-Hong Kong-Macao Greater Bay Area[50]. Employee and Shareholder Information - The total number of employees at the end of the reporting period is 124, with 13 in the parent company and 111 in major subsidiaries[134]. - Employee compensation totaled 879,849.09 yuan, accounting for 0.55% of the company's operating costs[135]. - The company plans to grant 13.44 million restricted stock units to senior management and key personnel of its subsidiary, aiming to enhance core team cohesion and competitiveness[139]. - The total number of shareholders at the end of the reporting period was 27,354, down from 29,059 at the end of the previous month[187]. - The largest shareholder, Hefei Lingcen Technology Consulting Partnership, holds 23.19% of the shares, totaling 148,834,450 shares[188].

Financial Performance - The company's operating revenue for Q1 2025 was ¥89,277,784.01, a decrease of 11.82% compared to ¥101,250,441.65 in the same period last year[5]. - The net loss attributable to shareholders for Q1 2025 was ¥22,114,871.36, representing a 31.60% increase in loss from ¥16,805,072.84 in the previous year[5]. - The basic and diluted earnings per share for Q1 2025 were both -¥0.0104, a decline of 33.33% from -¥0.0078 in the same period last year[5]. - The net loss for the company was ¥29,276,212.82, which is a 35.45% increase from a loss of ¥21,613,891.55 in the same period last year, attributed to decreased interest income and increased credit impairment losses[10]. - Operating profit for the current period was -¥25,695,994.02, compared to -¥16,623,167.08 in the previous period, indicating a worsening of 54.5%[28]. - Net profit for the current period was -¥29,276,212.82, compared to -¥21,613,891.55 in the previous period, representing an increase in losses of 35.5%[28]. Cash Flow and Assets - The net cash flow from operating activities decreased by 20.60% to ¥18,042,709.30 from ¥22,723,297.27 year-on-year[5]. - The net cash flow from investing activities decreased by 82.21% to -¥37,670,373.09, compared to -¥20,673,911.95 in the previous year, mainly due to increased cash payments for fixed assets and intangible assets[10]. - The company’s cash and cash equivalents increased to 2,565,530,124.91 CNY from 2,530,699,274.17 CNY, reflecting a growth of approximately 1.4%[21]. - Cash flow from operating activities generated a net cash inflow of ¥18,042,709.30, down from ¥22,723,297.27 in the previous period, a decrease of 20.5%[31]. - Cash and cash equivalents at the end of the period totaled ¥2,480,454,564.29, a slight decrease from ¥2,731,014,590.64 in the previous period[33]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 65,376[13]. - The largest shareholder, Shanghai Yueye Equity Investment Management Partnership, holds 19.13% of shares, totaling 414,138,066 shares, with 25,250,000 shares frozen[13]. - The second largest shareholder, Xinjiang Kaidi Investment Co., Ltd., holds 18.93% of shares, totaling 409,748,445 shares, with 143,000,000 shares pledged[13]. - The top three shareholders collectively hold over 47% of the company's shares[13]. - The company has a repurchase account holding 28,567,500 shares, representing 1.32% of total shares[15]. - The company is conducting multiple rounds of public auctions for shares held by major shareholders, with recent auctions resulting in the successful sale of 25,250,000 shares[16]. - The report indicates that there are no changes in the top 10 shareholders due to securities lending or borrowing activities[16]. - The company has not issued any preferred shares or disclosed any preferred shareholders[16]. Assets and Liabilities - Total assets at the end of Q1 2025 were ¥5,355,877,868.80, an increase of 0.68% from ¥5,319,833,620.49 at the end of the previous year[5]. - The company’s total liabilities increased to 220,204,515.49 CNY from 154,884,054.36 CNY, representing a significant rise of approximately 42%[23]. - The company’s long-term borrowings amounted to 40,000,000.00 CNY, which was previously zero, indicating new financing activities[23]. - The company’s inventory increased to 209,630,292.48 CNY from 197,873,887.61 CNY, showing a growth of about 5.4%[22]. - The company’s accounts receivable decreased to 217,755,087.09 CNY from 242,227,524.74 CNY, reflecting a decline of approximately 10.1%[21]. Research and Development - The company signed a strategic cooperation framework agreement with Baoshihua Pharmaceutical Technology (Beijing) Co., Ltd. to enhance its health service system[19]. - The company’s subsidiary received approval for a clinical trial for a new drug targeting HPV-related conditions, showcasing ongoing R&D efforts[19]. - Research and development expenses for the current period were ¥10,024,839.12, down from ¥10,877,646.84 in the previous period, a decrease of 7.8%[28]. Other Income and Expenses - The company reported a significant increase of 96.91% in other income to ¥2,066,921.45, primarily due to increased government subsidies[10]. - Investment losses for Q1 2025 were ¥3,976,605.05, a 124.02% increase compared to losses of ¥1,775,111.21 in the previous year, mainly due to a decline in net profits from joint ventures[10]. - Total operating costs decreased to ¥99,442,024.53 from ¥106,513,804.78, reflecting a reduction of 6.3%[27].

Corporate Governance and Compliance - The company reported a plan not to distribute cash dividends, issue bonus shares, or increase capital from reserves[5] - The company has a structured governance framework with a clear division of responsibilities among the shareholders' meeting, board of directors, supervisory board, and management[140] - The company is committed to maintaining compliance with laws and regulations regarding corporate governance and operations[141] - The company emphasizes the importance of protecting the rights of all shareholders, particularly minority shareholders, in its governance practices[139] - The company has established a market value management system to enhance its market value management practices[136] - The company has not reported any competitive conflicts with its controlling shareholder[144] - The company has a clear strategy for maintaining independence in business operations, personnel, assets, and finances[142] - The company has not implemented any employee stock ownership plans or other employee incentive measures during the reporting period[180] - The company has committed to ongoing monitoring and evaluation of risk control measures to ensure their effectiveness and compliance with established policies[183] - The company has conducted various research and communication activities with institutional investors to discuss operational conditions and R&D progress[134] Financial Performance - The company's operating revenue for 2024 was ¥466,485,016.50, a decrease of 6.34% compared to ¥498,088,171.28 in 2023[19] - The net profit attributable to shareholders for 2024 was -¥20,413,065.61, representing a decline of 124.50% from ¥83,314,246.81 in 2023[20] - The cash flow from operating activities for 2024 was -¥14,589,208.64, a significant drop of 111.41% compared to ¥127,872,780.78 in 2023[20] - The basic earnings per share for 2024 was -¥0.0095, down 124.87% from ¥0.0382 in 2023[20] - Total assets at the end of 2024 were ¥5,319,833,620.49, a decrease of 1.09% from ¥5,378,612,557.62 at the end of 2023[20] - The net assets attributable to shareholders at the end of 2024 were ¥5,158,023,472.59, down 1.53% from ¥5,237,902,679.94 at the end of 2023[20] - The company reported a negative net profit for the most recent accounting year, indicating uncertainty about its ability to continue as a going concern[21] - The company reported a net profit of -20,413,065.61 CNY for the fiscal year 2024, with an initial undistributed profit of 3,933,981,143.16 CNY[178] Research and Development - The company has a dedicated R&D platform with approximately 200 high-educated professionals, accounting for 20% of total employees, focusing on both technical improvements and new drug development[61] - R&D investment for 2024 reached CNY 78,203.1 million, a year-on-year increase of 53.05%, accounting for 16.76% of operating revenue, up 6.50 percentage points from the previous year[69] - The company is investing heavily in R&D, with a budget allocation of 200 million yuan for new technology development[161] - The company has completed three pharmacodynamic studies and two mechanism studies for the CBD project aimed at treating pulmonary hypertension[88] - The company is developing a new drug for pancreatic cancer, having secured multiple patent rights across various countries[89] - The company is on track to launch a collagen product for post-surgical recovery by 2024, with ongoing trials for other cosmetic peptides[89] Market and Sales Performance - The total market size for lipid-regulating agents in China exceeded 20 billion yuan in 2023, with a year-on-year growth of 0.10%[30] - The retail market for oral lipid-regulating agents in China grew by 12.37% year-on-year in the first three quarters of 2024, with total sales exceeding 5 billion yuan[35] - The sales of atorvastatin calcium tablets reached 6.07 billion yuan in 2023, maintaining its position as the top product in the cardiovascular drug market[38] - The company is actively enhancing its OTC market presence and collaborating with strategic partners to promote "Alo" in retail markets[55] - The company is expanding its product matrix and exploring new market opportunities to drive growth and enhance its competitive position[56] Environmental Compliance - The company is compliant with multiple environmental protection laws and regulations, including the Environmental Protection Law and the Solid Waste Pollution Prevention Law[190] - The company holds a valid pollution discharge permit effective from June 12, 2024, to June 11, 2029[191] - The company has established emergency response plans for environmental incidents, with documentation filed with local authorities[192] - The company reported emissions of nitrogen oxides at 2 units with a concentration of 80 mg/Nm3, complying with the standard of 100 mg/Nm3[193] - The company has successfully completed environmental protection acceptance for its construction projects[192] Strategic Initiatives - The company is actively exploring new business areas, including biopolypeptides and medical services, with some segments already producing end products[43] - The company aims to reshape its competitiveness through a technology innovation strategy, focusing on biopharmaceuticals and expanding into the health industry[65] - The company plans to enhance shareholder returns through a three-year shareholder return plan (2023-2025) to balance interests between the company and its shareholders[177] - The company plans to use between 200 million and 300 million RMB of its own funds for share repurchases to enhance investor returns, with ongoing repurchase activities expected in 2025 based on market conditions[179] Risk Management - The company has identified and quantified risks in financial, investment, and compliance areas, establishing a comprehensive risk prevention mechanism to support stable development[182] - The company faces risks from market and policy changes, particularly due to the ongoing reforms in drug procurement and stricter regulations[132] - Rising production costs due to raw material prices and logistics are a concern, prompting the company to optimize supplier management and production technology[132] Employee Management - The total number of employees at the end of the reporting period was 1,054, with 435 in production, 179 in sales, and 202 in technical roles[171][172] - The company has established a three-dimensional dynamic compensation system focused on value creation and performance-driven principles[173] - The training plan for 2024 includes 24 different training programs, covering areas such as GMP regulations, financial management, and quality management systems[174][175]