Financial Performance - The company's operating revenue for 2024 was ¥5,177,853,653.17, a decrease of 13.51% compared to ¥5,986,992,992.07 in 2023[6]. - The net profit attributable to shareholders for 2024 was -¥1,224,758,451.96, representing a decline of 503.09% from -¥203,079,337.60 in 2023[6]. - The net cash flow from operating activities for 2024 was -¥331,415,614.24, which is an 85.19% decrease compared to -¥178,956,361.13 in 2023[6]. - The total assets at the end of 2024 were ¥5,184,575,479.48, down 34.07% from ¥7,863,977,821.40 at the end of 2023[6]. - The net assets attributable to shareholders decreased by 48.49% to ¥1,347,117,720.01 at the end of 2024 from ¥2,615,236,659.08 at the end of 2023[6]. - The company reported a basic and diluted earnings per share of -¥2.0261 for 2024, a decline of 503.01% from -¥0.336 in 2023[6]. - The company experienced a significant increase in non-recurring losses, with a total of ¥776,188,185.76 in 2024 compared to ¥28,668,438.47 in 2023[6]. - The company reported a consolidated revenue of 517,785.37 million yuan for 2024, a year-on-year decrease of 13.51%[55]. - The total profit for the company was -171,588.98 million yuan, representing a year-on-year decline of 500.24%[55]. - The net profit attributable to the parent company was -122,475.85 million yuan, down 503.09% year-on-year[55]. Market Outlook - The global connector market is projected to grow from $60.1 billion in 2017 to $86.5 billion in 2024, with a CAGR of 5.34%[32]. - The Chinese connector market is expected to rise from $19.1 billion in 2017 to $28 billion in 2024, with a CAGR of 5.62%[35]. - In 2024, China's automobile production and sales are projected to reach 31.28 million and 31.44 million units, respectively, with year-on-year growth of 3.7% and 4.5%[39]. - New energy vehicle (NEV) production and sales in China are expected to maintain high growth, reaching 12.89 million and 12.87 million units in 2024, representing year-on-year increases of 34.4% and 35.5%[39]. - Global NEV sales are forecasted to grow from 3.31 million units in 2020 to 18.24 million units in 2024, with a CAGR of 53.19%[37]. Business Operations - The company has a total of six wholly-owned subsidiaries and two holding subsidiaries, indicating a diversified operational structure[14]. - The company has maintained its main business operations without any changes since its listing[20]. - The company plans to expand its market presence by establishing subsidiaries or branches nationwide to enhance customer relationships[45]. - The company maintains a direct sales model to ensure rapid response to customer needs and to strengthen long-term strategic partnerships[46]. - The company has established stable procurement channels, with most raw materials sourced domestically, ensuring sufficient supply[43]. Research and Development - The company plans to continue investing in R&D to enhance product performance and meet the increasing demands for high-speed data transmission in AI and communication technologies[53]. - The company aims to strengthen its strategic partnerships with major clients, enhancing brand influence and market competitiveness[52]. - Research and development expenses decreased by 22.42% to ¥250,972,185.38, while total R&D investment was ¥408,341,237.70, down 18.95% from the previous year[64][65]. - The number of R&D personnel decreased by 44.20% from 810 in 2023 to 452 in 2024[65]. Internal Control and Governance - The company reported a significant internal control deficiency during the reporting period, which has been effectively rectified as of the report issuance date[4]. - The internal control evaluation report confirmed that the company maintained effective financial reporting internal controls in all significant aspects[149]. - The company has established a complete internal control system, with the board of directors overseeing its implementation and effectiveness[149]. - The company has revised seven fundamental management systems to enhance governance in 2024, ensuring compliance with relevant laws and regulations[108]. - The company has implemented a comprehensive internal control system covering all key business processes, ensuring timely rectification of any identified deficiencies[111]. Corporate Social Responsibility - The company emphasizes corporate social responsibility, balancing the interests of stakeholders including shareholders, employees, and suppliers[111]. - The company is committed to ESG management principles, implementing energy-saving measures and improving employee welfare, while also enhancing internal controls and risk management systems[101]. - The company is committed to environmental protection and sustainable development, achieving ISO 14001 certification and integrating carbon neutrality goals into daily operations[166]. - The company actively engages in public welfare activities and maintains good relationships with local governments and communities, contributing to social harmony[167]. Shareholder Relations - The company plans not to distribute cash dividends, issue bonus shares, or increase share capital from reserves[5]. - The annual shareholders meeting had a participation rate of 20.26% on May 30, 2024[115]. - The first extraordinary shareholders meeting in 2024 had a participation rate of 20.37 on July 29, 2024[115]. - The second extraordinary shareholders meeting in 2024 had a participation rate of 17.09% on November 14, 2024[115]. Risk Management - The company emphasizes the importance of risk awareness in its future development outlook, urging investors to consider potential investment risks[4]. - The company will implement a comprehensive risk management system covering supply chain, financial, operational, and market risks to ensure stable operations[99]. - The company is addressing market competition risks by focusing on technological innovation and product development to maintain its market position amid evolving consumer demands[103]. - The company is establishing a diversified global supplier network to mitigate supply chain risks associated with raw material price fluctuations and geopolitical tensions[104]. Executive Compensation - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 1,237.09 million[130]. - The highest remuneration was received by the Vice Chairman and CEO, totaling CNY 160.25 million[130]. - The company has a structured remuneration system based on the board's approval and assessment criteria for senior management[129]. - The total remuneration for supervisors was CNY 207.18 million, with the chairman of the supervisory board receiving CNY 96 million[130]. Legal and Compliance - The company received a notice of investigation from the China Securities Regulatory Commission on December 25, 2024, regarding suspected violations of information disclosure laws[174]. - The company faced an administrative penalty of RMB 200,000 for exceeding wastewater discharge limits, but it did not have a significant impact on operations[162]. - The company has zero financial report material defects and one non-financial report material defect as of the latest audit[156][155].

Financial Performance - The company's revenue for Q1 2025 was ¥826,994,785.21, representing an increase of 18.91% compared to ¥695,465,400.35 in the same period last year[5]. - Net profit attributable to shareholders was ¥121,447,627.68, a significant increase of 67.38% from ¥72,558,354.23 year-on-year[5]. - The net profit after deducting non-recurring gains and losses reached ¥117,667,362.35, up 107.04% from ¥56,834,191.92 in the previous year[5]. - Basic earnings per share increased by 65.38% to ¥0.86 from ¥0.52 year-on-year[5]. - Total operating revenue for the current period reached ¥826,994,785.21, an increase of 18.9% compared to ¥695,465,400.35 in the previous period[13]. - Net profit for the current period was ¥121,447,627.68, representing a 67.2% increase from ¥72,558,354.23 in the previous period[14]. - The total comprehensive income for the current period was ¥121,447,627.68, compared to ¥72,558,354.23 in the previous period, reflecting strong overall performance[15]. Cash Flow and Investment - The company's cash flow from operating activities decreased by 57.60%, amounting to ¥142,767,695.43 compared to ¥336,745,234.06 in the same period last year[5]. - Cash flow from operating activities generated a net amount of ¥142,767,695.43, down from ¥336,745,234.06 in the previous period[16]. - The net cash flow from investment activities was $97,788,452.32, compared to a negative cash flow of -$384,737,860.18 in the previous period, indicating a significant improvement[17]. - The cash inflow from investment activities amounted to $911,337,485.30, while cash outflows were $813,549,032.98, resulting in a net cash inflow of $97,788,452.32[17]. - The company reported a cash distribution of $28,097,294.00 in dividends and interest payments during the financing activities[17]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,008,552,546.77, reflecting a growth of 7.58% from ¥1,866,997,188.81 at the end of the previous year[5]. - The company's total assets as of March 31, 2025, amount to CNY 2,008,552,546.77, an increase from CNY 1,866,997,188.81 at the beginning of the period[10]. - The total current assets are CNY 1,301,874,937.80, up from CNY 1,153,147,701.14[10]. - The total non-current assets decreased to CNY 706,677,608.97 from CNY 713,849,487.67[11]. - The total current liabilities are CNY 1,263,194,168.50, slightly increased from CNY 1,256,217,119.20[11]. - Total liabilities rose to ¥1,627,227,760.24, compared to ¥1,579,022,735.96 in the previous period, reflecting a growth of 3.1%[12]. Shareholder Information - The company's total equity attributable to shareholders rose by 32.42% to ¥381,324,786.53 from ¥287,974,452.85 at the end of the previous year[5]. - The total number of common shareholders at the end of the reporting period is 4,033[9]. - The largest shareholder, Tianjin Huatu Hongyang Enterprise Management Co., Ltd., holds 51.00% of shares, totaling 71,648,100 shares, with 64,366,580 shares pledged[9]. - The company's total equity attributable to shareholders increased to ¥381,324,786.53 from ¥287,974,452.85, marking a growth of 32.4%[12]. Research and Development - Research and development expenses surged by 511.59% to ¥35,694,032.71, compared to ¥5,836,268.22 in the same period last year, mainly due to an increase in R&D personnel[8]. - Research and development expenses increased significantly to ¥35,694,032.71, up from ¥5,836,268.22, indicating a focus on innovation[13]. Taxation - The company reported a 12507.40% increase in income tax expenses, totaling ¥34,087,712.32, up from ¥270,378.59, driven by a rise in total profit[8]. Inventory and Receivables - The company reported a decrease in inventory from CNY 23,608,442.90 to CNY 13,349,794.95[10]. - Accounts receivable increased to CNY 208,936,545.33 from CNY 193,754,043.38[10]. - The company's contract liabilities rose to CNY 833,941,539.17 from CNY 779,349,814.11[11]. Audit Status - The company has not yet audited its first-quarter report for 2025, which may impact the reliability of the financial data presented[18].

Financial Performance - The company's operating revenue for 2024 reached ¥2,832,798,778, representing a 1,046.34% increase compared to ¥247,117,419 in 2023[17]. - Net profit attributable to shareholders was ¥52,992,079.60, a significant turnaround from a loss of ¥91,968,662.29 in the previous year, marking a 157.62% improvement[17]. - The net profit after deducting non-recurring gains and losses was ¥24,446,376.98, up 123.09% from a loss of ¥105,895,804.41 in 2023[17]. - The cash flow from operating activities showed a net inflow of ¥824,170,813.12, a 323.93% increase from ¥194,410,743.89 in the previous year[17]. - Basic and diluted earnings per share improved to ¥0.38, compared to a loss of ¥0.65 in 2023, reflecting a 158.46% increase[17]. - The total assets of the company at the end of 2024 were ¥1,866,997,188.81, an 82.87% increase from ¥1,020,926,050.17 in 2023[17]. - The net assets attributable to shareholders increased by 37.38% to ¥287,974,452.85 from ¥209,614,521.24 in the previous year[17]. - The weighted average return on equity improved to 20.94%, up 56.77% from -35.83% in 2023[17]. Revenue Breakdown - The company reported a quarterly revenue breakdown with Q1 at ¥695,465,400.35, Q2 at ¥810,564,516.38, Q3 at ¥624,845,702.12, and Q4 at ¥701,923,159.15[19]. - In 2024, the company's non-operating income from non-recurring transactions amounted to CNY 25,485,848.54, an increase of 90.5% compared to CNY 13,362,341.42 in 2023[23]. - The total revenue from the construction engineering design and consulting services was impacted by a 10.6% decline in national real estate development investment, totaling CNY 1,002.8 billion in 2024[27]. - The new residential sales area decreased by 12.9% year-on-year, with a total of 97,385 million square meters sold in 2024[27]. - The company has seen a 17.1% decline in new residential sales revenue, totaling CNY 967.5 billion in 2024[27]. Vocational Education Focus - The company is focusing on vocational education, which has received multiple policy supports aimed at enhancing the quality of vocational training and aligning it with national strategic needs[32]. - The government emphasized the importance of employment stability, with over 11.7 million college graduates in 2024, necessitating enhanced employment support measures[31]. - The company is committed to expanding its market presence in vocational training, supported by recent reforms aimed at improving the vocational education system[32]. - The Chinese vocational education market size grew from RMB 604.5 billion in 2018 to RMB 871.9 billion in 2022, with a CAGR of 9.6%[33]. - The non-degree vocational education market size increased from RMB 120.5 billion in 2016 to RMB 221.5 billion in 2021, achieving a CAGR of 12.9%[33]. - The number of participants in non-degree vocational education rose from 25.4 million in 2016 to 36.8 million in 2021, with a CAGR of 7.7%[33]. AI and Technology Integration - The company has established an AI department to enhance its AI strategy across various operational segments, including teaching and management[37]. - The company has developed multiple AI applications, such as AI interview and AI essay grading, significantly improving operational efficiency[37]. - The company is integrating AI technology into classroom learning assessments and feedback processes to enhance service timeliness and relevance[48]. - The company aims to leverage AI technology to improve operational efficiency and provide personalized learning services for students[121]. - The company is enhancing its technological capabilities to support new educational products and services[181]. Governance and Management - The company maintains an independent business system and does not rely on controlling shareholders or related parties[152]. - The company has a complete and independent financial accounting department, capable of making independent financial decisions[156]. - The company’s governance structure includes an independent shareholders' meeting, board of directors, supervisory board, and management team[155]. - The company’s independent directors actively participated in meetings and provided valuable insights for the company's development[148]. - The company’s governance practices align with legal and regulatory requirements, with no significant discrepancies identified[150]. - The company announced a change in leadership with the election of new board members and executives on November 14, 2024, including the appointment of Wu Zhenggao as Chairman and Yi Xiaoying as General Manager[160]. Employee and Training Initiatives - The total number of employees at the end of the reporting period is 10,425, with 98 in the parent company and 10,327 in major subsidiaries[193]. - The professional composition includes 1,235 management personnel, 864 R&D personnel, and 3,190 teaching staff[193]. - New teachers undergo a rigorous 3-month training program with a 40% elimination rate before qualifying for teaching positions[197]. - Existing teachers must participate in annual assessments with a 10% mandatory elimination rate to ensure proficiency in new products[197]. - Management training is tiered and categorized, with specific programs for potential leaders to prepare them for future roles[200]. Strategic Growth and Market Expansion - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by 2025[167]. - New product launches are expected to contribute an additional 200 million RMB in revenue over the next fiscal year[168]. - The company is actively pursuing mergers and acquisitions to bolster its market position and expand its service capabilities[181]. - The company is focusing on expanding its market presence through strategic appointments and leadership restructuring[181]. - The company plans to introduce "installment payment" courses to improve product competitiveness and meet market demand[64].

Financial Performance - The company's net profit significantly declined due to reduced demand from steel and cement customers, leading to a decrease in sales revenue[3]. - The provision for impairment increased compared to the same period last year, impacting overall financial performance[3]. - The company plans not to distribute cash dividends, issue bonus shares, or increase capital from reserves[4]. - The company's operating revenue for 2024 was ¥282,272,870.82, a decrease of 17.28% compared to ¥341,248,991.44 in 2023[16]. - The net profit attributable to shareholders for 2024 was -¥32,038,353.99, representing a decline of 204.99% from ¥30,516,567.53 in 2023[16]. - The net cash flow from operating activities improved by 24.37%, reaching -¥21,829,904.88 in 2024 compared to -¥28,865,121.81 in 2023[16]. - The total assets at the end of 2024 were ¥1,207,802,298.27, a decrease of 3.94% from ¥1,257,322,201.34 at the end of 2023[16]. - The company's basic earnings per share for 2024 was -¥0.4472, down 204.98% from ¥0.4260 in 2023[16]. - The weighted average return on equity for 2024 was -3.24%, a decline of 6.29% from 3.05% in 2023[16]. - The company reported a total of ¥1,330,564.16 in non-recurring gains and losses for 2024, compared to ¥12,049,437.83 in 2023[22]. Market and Industry Trends - The company operates in the general equipment manufacturing industry, specifically in the fan and pump manufacturing sector[25]. - The fluid segment of the industry shows significant potential for efficiency improvements, with over half of the fans operating below 70% efficiency[26]. - The industrial heating furnace technology upgrade can significantly improve energy efficiency and reduce emissions, aligning with national high-quality development goals[27]. - The new low-nitrogen burners can greatly reduce nitrogen oxide emissions while maintaining heating efficiency, supporting both energy saving and environmental protection[28]. - The permanent magnet motor market is experiencing robust growth, driven by increasing global energy efficiency and environmental requirements[30]. - The demand for permanent magnet motors is particularly strong in the new energy vehicle sector, where synchronous motors have become the mainstream drive type[30]. - The Chinese government has implemented strict energy consumption standards for fans and pumps, promoting the development of high-efficiency products in these sectors[31]. - The steel industry is undergoing a transformation with a focus on energy efficiency, leading to increased demand for energy-saving equipment like fans and pumps[32]. - The cement industry is also investing in energy-saving technologies, which will further drive the growth of energy-saving service providers[32]. Technological Advancements - The company focuses on high-tech research and development in fluid transportation, permanent magnet motors, precise combustion, and efficient heat exchange, providing customized energy-saving solutions for industrial clients[41]. - The company has enhanced its core technology capabilities in permanent magnet motor production, improving product quality and profitability[30]. - The ongoing technological advancements in energy-saving equipment are expected to create a larger market space and stronger competitiveness for the company[31]. - The high-efficiency plate heat exchanger technology has been commercialized, recovering waste heat from flue gas at temperatures of 600-800°C, with an efficiency exceeding 80% compared to traditional systems[65]. - The ultra-high temperature silicon carbide heat exchanger has been developed for flue gas recovery above 800°C, significantly improving energy utilization efficiency[66]. - The axial fuel staged burner series can reduce nitrogen oxide emissions to below 50 mg/Nm³, which is 40% lower than competing foreign products[67]. - The company has developed a complete aluminum hot-rolling heating furnace system, achieving a heat recovery efficiency exceeding 90%[69]. - The company has applied for multiple invention patents in the fields of industrial energy conservation and advanced combustion technology[63]. Research and Development - The company has a strong R&D team dedicated to optimizing permanent magnet motor design and control technology, ensuring industry-leading product performance[70]. - The company invests heavily in R&D each year to drive product iteration and upgrade, keeping pace with industry technology trends[70]. - The R&D investment amounted to ¥31,942,465.80 in 2024, representing 11.32% of operating revenue, an increase from 11.19% in 2023 and significantly higher than 7.54% in 2022[127]. - The R&D team has increased the number of PhD holders from 1 to 3, marking a 200% increase, while the number of undergraduate holders decreased by 34.41%[127]. - The company is focusing on developing a new type of burner for heating furnaces, which is expected to lead to significant economic benefits in the future[128]. Strategic Initiatives - The company aims to become a leading technical specialist in thermal energy technology, with a core technology platform established for combustion and heat transfer technologies, including a patent pool for related technologies[43]. - The company is actively pursuing market expansion through a "dual-coordinate strategy," focusing on vertical expansion of customer groups and horizontal expansion of product families[81]. - The company is focusing on new product development based on two-phase flow theory, enhancing low-temperature and high-temperature ceramic materials to address customer pain points such as wear resistance and corrosion resistance[162]. - The company aims to transition from a single equipment supplier to a comprehensive solution provider in industrial furnaces, enhancing its technological moat and ensuring sustainable revenue growth in the thermal sector[101]. - The company is committed to integrating artificial intelligence into process control models to provide intelligent and efficient comprehensive energy-saving solutions[159]. Operational Efficiency - The company has established a comprehensive quality control management system, ensuring real-time quality control across R&D, testing, procurement, and production[75]. - The company has implemented cost control measures in procurement, achieving significant cost reductions through supplier negotiations and process optimization[109]. - The company has established a unified human resources management system to support strategic development and ensure alignment with organizational goals[107]. - The company has completed the development of a new auxiliary drive structure for high-temperature environments, enhancing installation efficiency[123]. - The company has established independent labor, personnel, and compensation management systems[193]. Corporate Governance - The company ensures compliance with governance regulations, maintaining independence from its controlling shareholder in assets, personnel, finance, and operations[191]. - The company actively engages in investor relations and information disclosure, ensuring all shareholders have equal access to information[188]. - The company emphasizes the protection of stakeholders' rights and interests, promoting balanced communication among shareholders, employees, and society[190]. - The company has established an independent financial department with dedicated financial personnel, ensuring compliance with accounting regulations and independent financial decision-making[194]. - The company has a complete and independent business operation system, including procurement, production, sales, and R&D, without reliance on major shareholders[196].

Financial Performance - The company's revenue for Q1 2025 was ¥35,881,533.98, representing a slight increase of 0.59% compared to ¥35,670,707.51 in the same period last year[5] - The net loss attributable to shareholders was ¥22,315,159.44, which is a 13.66% increase from the previous year's loss of ¥19,633,756.85[5] - Basic and diluted earnings per share were both -¥0.3115, reflecting a decrease of 15.37% from -¥0.2700 in the same quarter last year[5] - Net profit for the current period was a loss of ¥23,932,371.83, compared to a loss of ¥20,389,584.98 in the previous period, reflecting a deterioration in performance[21] - Basic and diluted earnings per share for the current period were both reported at -0.3115, compared to -0.2700 in the previous period, indicating a decline in profitability[22] Cash Flow and Liquidity - The net cash flow from operating activities decreased significantly to -¥40,735,337.98, a decline of 375.90% compared to -¥8,559,600.80 in the prior year[5] - Cash flow from operating activities was reported at ¥40,854,180.11, a decrease from ¥56,067,662.61 in the previous period, suggesting reduced cash generation[24] - The company reported a total cash outflow from operating activities of $85.16 million, up from $67.64 million in the previous period, indicating increased operational expenses[25] - The total cash and cash equivalents at the end of the period were $70.97 million, down from $330.04 million at the end of the previous period[25] - The company's cash and cash equivalents decreased by 50.84% to ¥72,211,052.10, primarily due to lower-than-expected cash collections and increased procurement of raw materials[9] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,185,840,975.53, down 1.82% from ¥1,207,802,298.27 at the end of the previous year[5] - Total current liabilities decreased from ¥142,654,208.17 to ¥135,226,134.89, a reduction of about 5.2%[18] - The company's total liabilities amounted to ¥235,048,110.24, a slight decrease from ¥235,301,746.54 in the previous period[19] - The total equity attributable to shareholders decreased to ¥942,727,076.94 from ¥964,757,550.99, indicating a decline of approximately 2.29%[19] Operational Costs - Total operating costs increased to ¥57,169,812.56, up 8.67% from ¥52,515,441.75 in the previous period[20] - Management expenses rose by 33.51% to ¥11,398,549.84, mainly due to depreciation costs of equipment and buildings being included in management expenses[9] - Research and development expenses increased to ¥7,146,878.52, up 19.99% from ¥5,950,384.76 in the previous period, highlighting a focus on innovation[21] - The company reported a significant increase in tax expenses, which rose to ¥1,436,094.85 from ¥893,144.51, reflecting higher operational costs[21] Shareholder Information - Total number of common shareholders at the end of the reporting period is 4,731[12] - The largest shareholder, Chen Wandong, holds 31.00% of shares, totaling 22,207,500 shares[12] - The company has a total of 10 major shareholders, with the top 5 holding over 70% of shares[12] - There are no changes reported in the shareholding structure due to stock lending or borrowing activities among the top shareholders[13] Investments and Financial Products - The company recorded a fair value gain of ¥370,605.21 from financial products purchased during the period[9] - The company received cash inflows of ¥1,940,000.00 from minority shareholders' investments during the reporting period[10] - The company reported a significant increase in trading financial assets from ¥68,177,293.01 to ¥79,168,086.60, an increase of approximately 16.0%[17] Market Strategy - The company is exploring new strategies for market expansion and product development, although specific details were not disclosed[16] Audit Status - The first quarter report was not audited, which may affect the reliability of the financial data presented[26]

Financial Performance - The company's revenue for Q1 2025 was ¥24,727,729.71, a decrease of 64.76% compared to ¥70,169,269.47 in the same period last year[5] - The net loss attributable to shareholders was ¥50,488,242.20, representing a 21.64% increase from a loss of ¥41,505,418.10 in the previous year[5] - Basic and diluted earnings per share were both -¥0.15, down 25.00% from -¥0.12 in the same quarter last year[5] - The net loss for the current period is ¥52,841,962.44, compared to a net loss of ¥47,058,177.66 in the previous period, reflecting an increase in losses of approximately 12.0%[19] - The total comprehensive loss for the current period is ¥52,841,871.61, compared to a loss of ¥47,058,295.70 in the previous period, an increase in comprehensive losses of approximately 12.2%[20] Cash Flow - The net cash flow from operating activities was -¥30,947,268.30, a decline of 19.01% from -¥26,003,936.20 in the prior year[5] - Cash inflows from operating activities totaled ¥29,060,305.13, down from ¥66,802,210.84 in the previous period, a decrease of about 56.5%[22] - Cash outflows for purchasing goods and services were ¥27,693,180.97, compared to ¥37,434,137.25 in the previous period, a reduction of approximately 26.2%[22] - The net cash flow from investing activities was -¥46,064.81, a significant decrease from ¥6,477,623.79 in the prior period[23] - Total cash outflow from operating activities amounted to ¥60,007,573.43, down from ¥92,806,147.04[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥677,366,699.33, a decrease of 6.72% from ¥726,148,713.14 at the end of the previous year[5] - Total current assets decreased from 379,642,733.32 to 362,937,796.04, a decline of approximately 4.5%[16] - Total liabilities decreased slightly from 92,544,890.11 to 91,925,007.56, a reduction of about 0.7%[16] - Non-current assets decreased from 346,505,979.82 to 314,428,903.29, a decline of approximately 9.2%[16] - The total liabilities decreased from ¥120,197,982.79 to ¥117,645,767.76, a reduction of about 2.9%[17] Shareholder Information - Total number of common shareholders at the end of the reporting period is 36,220[11] - The largest shareholder, Chen Chongjun, holds 22.72% of shares, with 67,170,000 shares pledged and 78,550,607 shares frozen[11] - The company has a total of 44,777,620.00 restricted shares, with 43,787,639.00 shares released during the period[13] - The company plans to release restricted shares on March 14, 2025, for 43,787,639.00 shares held by Chen Chongjun[13] Operating Costs and Expenses - Total operating costs for the current period amount to ¥39,407,591.68, down from ¥94,759,097.66 in the previous period, indicating a reduction of about 58.3%[18] - Research and development expenses for the current period were ¥5,896,233.89, down from ¥9,941,946.40 in the previous period, indicating a decrease of about 40.9%[18] - The company’s sales expenses dropped by 86.50% to ¥6,642,491.54, mainly due to the exclusion of Donggao Technology from the consolidation scope[9] - The company’s financial expenses decreased by 63.07% to -¥691,498.49, mainly influenced by exchange rate fluctuations[9] Accounting and Audit - The company did not undergo an audit for the first quarter report[24] - The company plans to implement new accounting standards starting in 2025[25]

Financial Performance - The company's revenue for Q1 2025 was CNY 114,171,644.71, a decrease of 9.24% compared to CNY 125,796,157.10 in the same period last year[7] - The net profit attributable to shareholders was a loss of CNY 2,710,733.35, representing a decline of 351.68% from a profit of CNY 1,077,064.16 in the previous year[7] - The company's net profit attributable to shareholders decreased by 351.68% to -271.07 million, primarily due to a decline in revenue and gross profit, as well as a decrease in other income[14] - The company reported a net loss of approximately ¥3.28 million, compared to a net profit of ¥182,222.80 in the previous period, indicating a significant decline in profitability[24] - The company reported an operating loss of RMB 5,653,964.36, compared to a loss of RMB 948,600.88 in the previous period[23] Cash Flow - The net cash flow from operating activities improved by 76.96%, amounting to a loss of CNY 13,436,604.37 compared to a loss of CNY 58,325,070.94 in the same period last year[7] - Cash flow from operating activities improved by 76.96%, with a net cash outflow of -1,343.66 million compared to -5,832.51 million in the previous year[14] - The net cash flow from operating activities was negative at approximately ¥13.44 million, an improvement from a negative cash flow of ¥58.33 million in the prior period[26] - The company experienced a net cash outflow from investing activities of approximately ¥226.03 million, compared to a net inflow of ¥45.12 million in the prior period[27] - The company’s cash flow from financing activities was negative at approximately ¥4.55 million, an improvement from a negative cash flow of ¥13.98 million in the prior period[27] Assets and Liabilities - Total assets at the end of Q1 2025 were CNY 1,695,283,651.17, a decrease of 4.12% from CNY 1,768,166,172.08 at the end of the previous year[7] - The total assets as of March 31, 2025, are RMB 1,695,283,651.17, down from RMB 1,768,166,172.08 at the beginning of the period[22] - The total liabilities decreased to RMB 430,712,776.52 from RMB 497,896,153.40, indicating a reduction of 13.5%[22] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 18,895[16] - The largest shareholder, Miao Guodong, holds 25.83% of the shares, totaling 65,573,550 shares[16] - The company repurchased a total of 4,949,540 shares, representing 1.9497% of the total share capital, at an average price of RMB 9.21 per share[18] - The company plans to use between RMB 40 million and RMB 60 million for share repurchase to support employee stock ownership plans[18] Investment Activities - Long-term equity investments increased by 51.53% to 1,321.69 million, mainly due to investments in Hunan Anzhi Network Technology Co., Ltd.[14] - The company’s long-term equity investments rose to RMB 13,216,901.42 from RMB 8,722,099.45, an increase of 51.4%[21] - The company received cash inflows from investment activities totaling approximately ¥102.27 million, down from ¥393.25 million in the prior period[27] Other Financial Metrics - The company's gross profit margin for the period was 41.70%, down by 0.8 percentage points year-on-year, primarily due to intense market competition and declining prices of main products[11] - Total operating costs for the current period amount to RMB 121,384,826.20, down from RMB 136,492,597.25, reflecting a reduction of 11.1%[23] - Other income dropped by 85.26% to 157.50 million, primarily due to a decrease in government subsidies compared to the previous year[14] - Basic and diluted earnings per share were both reported at -0.0107, a decrease from 0.0043 in the previous period[24] - The company paid approximately ¥61.68 million in employee compensation, a decrease from ¥75.62 million in the previous period[26]

Financial Performance - The company's revenue for Q1 2025 was ¥37,912,797.39, a decrease of 20.13% compared to ¥47,468,456.47 in the same period last year[8] - The net loss attributable to shareholders was ¥5,168,408.69, an improvement of 44.54% from a loss of ¥9,319,390.73 in the previous year[8] - Basic earnings per share were -¥0.0801, showing a 44.53% improvement from -¥0.1444 in the previous year[8] - Total operating revenue decreased to ¥37,912,797.39 from ¥47,468,456.47, representing a decline of approximately 20.4% year-over-year[24] - Net profit for the period was a loss of ¥6,428,750.63, compared to a loss of ¥10,032,105.18 in the previous period, showing an improvement of approximately 35.5%[26] - The company reported a total comprehensive loss of ¥6,284,413.69, compared to a loss of ¥10,030,457.38 in the previous period, an improvement of approximately 37.3%[26] Cash Flow - The net cash flow from operating activities improved to -¥25,012,917.44, a 33.79% increase compared to -¥37,778,592.85 in the same period last year[8] - Cash flow from operating activities was ¥50,778,515.75, compared to ¥60,173,310.38 in the previous period, indicating a decrease of about 15.5%[28] - Net cash flow from operating activities was -$25.01 million, an improvement from -$37.78 million year-over-year[29] - Net cash flow from investment activities was ¥19,315,013.80, a decrease of 36.45% compared to ¥30,395,175.66 in the previous year[14] - Total cash inflow from investment activities was $195.30 million, compared to $239.63 million in the previous period[29] - Cash outflow from investment activities totaled $175.99 million, down from $209.23 million year-over-year[29] - Net cash flow from financing activities was -$4.12 million, worsening from -$2.91 million in the previous period[30] - The ending cash and cash equivalents balance was $64.22 million, down from $76.11 million year-over-year[30] Assets and Liabilities - Total assets decreased by 5.00% to ¥910,367,172.86 from ¥958,274,315.91 at the end of the previous year[8] - Current assets decreased to CNY 474,664,634.14 from CNY 522,033,595.49, reflecting a decline of about 9.1%[21] - Cash and cash equivalents stood at CNY 210,434,834.73, slightly down from CNY 213,825,047.54, a decrease of approximately 1.1%[20] - The company’s total liabilities decreased to ¥151,066,968.18 from ¥183,580,971.58, a reduction of about 17.7%[22] - The total equity attributable to shareholders decreased to ¥764,919,618.39 from ¥779,163,822.91, a decline of approximately 1.8%[22] - The company’s long-term borrowings decreased to ¥29,439,647.94 from ¥32,303,807.34, a reduction of about 8.6%[22] Accounts Receivable and Inventory - The company reported a significant increase in accounts receivable, rising by 362.84% to ¥1,010,745.10 due to an increase in commercial acceptance bills received[12] - Accounts receivable decreased to CNY 42,024,336.84 from CNY 54,338,433.30, representing a decline of about 22.7%[21] - Inventory increased to CNY 65,403,093.58 from CNY 60,676,825.75, showing an increase of approximately 7.5%[21] Research and Development - Research and development expenses decreased by 32.98% to ¥3,793,359.80, reflecting reduced investment in the industrial energy storage business[13] - Research and development expenses were ¥3,793,359.80, down from ¥5,660,188.06, a decrease of approximately 33.0% year-over-year[25] Shareholder Structure - The company has a significant shareholder structure, with the largest shareholder holding 25.73% of the shares[18] - The company’s employee stock ownership platform is managed by a significant shareholder, indicating a focus on employee engagement[18] - There were no changes reported in the number of preferred shareholders or restricted shares during the period[19] Other Income - The company recorded a significant increase in other income, which rose by 1212.23% to ¥18,560.38, attributed to an increase in non-recurring income[13] Audit Status - The company did not undergo an audit for the first quarter report[31]

Financial Performance - In 2024, the company achieved operating revenue of CNY 719.59 million, a decrease of 18.58% compared to the previous year[14]. - The net profit attributable to shareholders was CNY -12.89 million, representing a decline of 112.60% year-on-year[14]. - The company reported a net loss of CNY -37.16 million after deducting non-recurring gains and losses, a decrease of 151.37% compared to the previous year[14]. - The company increased its impairment losses on various assets to CNY 73.15 million, up 73.13% year-on-year[15]. - The company's net profit attributable to shareholders is negative due to adverse changes in gross profit, asset impairment, R&D expenditure, and other income, leading to a decline in various profit indicators for 2024[16]. - The net cash flow from operating activities for 2024 is -¥11,256,557.63, down 106.23% from ¥180,667,689.12 in 2023[37]. - Basic earnings per share for 2024 is -¥0.05, a decline of 112.20% from ¥0.41 in 2023[37]. - The total assets at the end of 2024 amount to ¥1,768,166,172.08, a decrease of 9.88% from ¥1,961,924,421.97 at the end of 2023[37]. - The net assets attributable to shareholders at the end of 2024 are ¥1,268,821,138.71, down 9.86% from ¥1,407,627,098.07 at the end of 2023[37]. - The weighted average return on net assets for 2024 is -0.97%, a decrease of 8.45% from 7.48% in 2023[37]. Strategic Focus and Future Plans - In 2025, the company plans to focus on "innovation-driven and transformation upgrades," emphasizing digital transformation and intelligent upgrades[9]. - The company aims to explore new business models and markets, particularly in the fields of brainwave interaction and health industries[9]. - The company intends to establish overseas offices or joint ventures in key regions such as North America, Europe, the Middle East, and Asia-Pacific to enhance its international market presence[10]. - The company plans not to distribute cash dividends, issue bonus shares, or increase share capital from reserves[18]. Market Trends and Opportunities - The company is focusing on the development of smart community security devices and applications in smart hospitals, aligning with industry trends in digital economy and technology integration[47]. - The government has emphasized the importance of technological innovation and industry development, which aligns with the company's strategic focus on smart city solutions[49]. - The company has identified opportunities in the digital economy as a key driver for future growth, aiming to enhance urban living standards through smart technologies[51]. - The urbanization rate in China is projected to reach 65% by the end of 2024, with the urban population increasing by 10.83 million to 943.5 million[54]. - The per capita disposable income in China is expected to be 41,314 yuan by the end of 2024, reflecting a year-on-year growth of 5.3%[57]. Smart Community and Technology Integration - The smart community industry is evolving through four main stages: digitalization, grid-based management, intelligence, and wisdom[53]. - The integration of AIoT technologies is driving the development of smart security and property management solutions[53]. - The demand for smart community solutions is expected to rise due to the increasing disposable income and the pursuit of high-quality living standards[57]. - The smart community sector is experiencing a shift towards personalized services through big data analysis[53]. - The construction of smart communities is seen as a key pathway to achieving the national strategic goal of improving residents' quality of life[59]. Real Estate Market Dynamics - In 2024, the real estate policy is gradually loosening, focusing on destocking and expanding financing channels for real estate companies, which boosts market confidence[75]. - The real estate market is transitioning from a high-debt, high-leverage model to a more refined and diversified growth approach, responding to significant changes in supply and demand dynamics[76]. - The government aims to construct 50,000 old residential communities in 2024, enhancing urban livability and resilience[82]. - The People's Bank of China has implemented policies to lower the minimum down payment ratio for personal housing loans and reduce housing loan interest rates, promoting a stable and healthy real estate market[80]. - The government emphasizes the importance of affordable housing and the construction of supportive infrastructure, aiming to meet the rigid housing needs of the working population[79]. Smart Home and Healthcare Innovations - The smart home market is experiencing strong growth, driven by the integration of AI and IoT technologies, leading to a shift from single smart products to comprehensive smart home solutions[89]. - The demand for smart home products is evolving towards whole-home intelligence, providing personalized services and enhancing living quality[90]. - The aging population is driving the demand for smart home products tailored for elderly care, promoting a shift towards more convenient and safe living environments[92]. - The construction of smart hospitals is becoming a core direction for the digital transformation of the healthcare system, driven by advancements in AI, big data, and 5G technologies[103]. - The integration of AI and IoT technologies is reshaping medical service models and management systems, leading to a new healthcare ecosystem[110]. Awards and Recognition - The company has been recognized with multiple awards, including the "National Green Factory" title from the Ministry of Industry and Information Technology in January 2025[131]. - The company received the "Top 10 Preferred Suppliers" award from the China Real Estate Association in March 2025, recognizing its comprehensive strength in the construction supply chain[133]. - The company was awarded the "2024 Excellent Solution in the Smart Building Field" for its intercom system by the China Security and Prevention Products Industry Association in August 2024[134]. - The company’s Smart Home Central Control Screen Super was recognized as one of the "Top 50 Recommended Supporting Products" by the China Real Estate Association in March 2025[135]. Product Development and Technology - The company’s intercom products integrate advanced technologies such as facial recognition and voice recognition, enhancing security and efficiency in community access control[142]. - The digital intercom system is becoming a core component of smart communities, integrating cloud access control, intercom, monitoring, community shopping, information, and smart home control into a comprehensive service management platform[74]. - The AI edge computing gateway, based on the RK3588S chip, integrates a 6TOPS NPU accelerator, enabling over 250 facial recognition operations per second under FP16 conditions, and over 500 operations under INT8 conditions[149]. - The company offers a range of smart home control screens from 1.28 inches to 15.6 inches, catering to diverse user needs and ensuring ease of operation across different age groups[154]. - The smart home product line includes various interconnected devices such as curtain motors, signal transmitters, smart sockets, and security equipment, ensuring comprehensive home safety and convenience[158].

Financial Performance - The company's net profit for the reporting period was negative, primarily due to a reduction in market demand for HVLS fans, leading to a decline in revenue and net profit compared to the same period last year [7]. - The company reported a basic earnings per share of -CNY 0.16 for 2024, a decrease of 138.10% from CNY 0.42 in 2023 [21]. - The net profit attributable to shareholders for 2024 was a loss of CNY 10,530,566.16, representing a decline of 139.22% from a profit of CNY 26,851,573.61 in 2023 [21]. - The company experienced a net loss of CNY 18,126,815.73 after deducting non-recurring gains and losses in 2024, compared to a profit of CNY 17,885,722.88 in 2023, marking a 201.35% decline [21]. - The company's operating revenue for 2024 was CNY 331,191,152.88, a decrease of 10.14% compared to CNY 368,581,262.85 in 2023 [21]. - The total assets at the end of 2024 were CNY 958,274,315.91, down 8.95% from CNY 1,052,421,374.13 at the end of 2023 [21]. - The weighted average return on equity for 2024 was -1.32%, down from 3.36% in 2023, indicating a significant decline in profitability [21]. - The company's gross profit margin for the general equipment manufacturing industry was 32.73%, a decrease of 6.57% year-on-year [85]. - The company reported a significant uncertainty regarding its ability to continue as a going concern, as indicated by the negative net profit figures over the last three accounting years [21]. Strategic Focus and Business Development - The company plans to continue focusing on the HVLS fan sector while actively implementing new business strategies to enhance profitability and operational efficiency [9]. - The company is committed to enhancing its comprehensive competitiveness while maintaining steady development in its main business [7]. - The company has outlined potential risks and corresponding countermeasures in its management discussion and analysis section, urging investors to remain aware of these factors [9]. - The company emphasizes that there are no significant risks to its ongoing operations despite the current challenges [9]. - The company is actively expanding its international presence by establishing subsidiaries in India, Mexico, and Singapore to enhance its global market share [35]. - The company aims to leverage its technological innovations and market experience to further penetrate both domestic and international markets [35]. - The company is focusing on expanding its lithium battery technology applications into various sectors, including clean home appliances and electric vehicles, to provide efficient and reliable customized products and services [78]. - The company is exploring potential mergers and acquisitions to strengthen its market position [165]. Research and Development - The company focuses on independent R&D, with a professional team dedicated to HVLS fans and lithium battery applications, continuously investing in technology innovation and product upgrades [56]. - The company achieved a research and development investment of CNY 22,750,925.05 in 2024, representing a 26.51% increase compared to the previous year [98]. - The proportion of R&D investment to operating revenue rose to 6.87% in 2024, up from 4.88% in 2023 [98]. - The company has developed multiple core patented technologies, including permanent magnet synchronous motor technology and innovative blade design, positioning it as a leader in the domestic HVLS fan market [35]. - The company is committed to innovation, with a dedicated R&D department led by experienced professionals [168]. Market Trends and Industry Insights - The HVLS fan industry in China has transitioned from foreign dominance to rapid domestic growth, with significant market expansion and technology maturity since 2008 [31]. - The market for HVLS fans is projected to continue growing due to increasing domestic demand and successful international market penetration, particularly in tropical and subtropical regions [32]. - Seasonal demand peaks for HVLS fans occur in the second and third quarters, driven by hot summer temperatures, although international market expansion is mitigating this seasonality [33]. - The UPS industry is experiencing a green technology upgrade, driven by global carbon neutrality strategies and government policies supporting data center construction [41][42]. - The commercial energy storage market is experiencing rapid growth, with a projected shipment volume of 170GWh in 2024, a 146% year-on-year increase, driven by strong overseas demand [39]. Governance and Management - The company has established a market value management system to enhance quality and shareholder returns, which was approved by the board on April 25, 2025 [140]. - The company held 4 shareholder meetings during the reporting period, ensuring compliance with legal procedures and protecting shareholder rights [144]. - The board of directors consists of 6 members, including 2 independent directors, and held 8 meetings in the reporting period, adhering to legal requirements [146]. - The supervisory board has 3 members, including 1 employee representative, and conducted 5 meetings, ensuring compliance with relevant laws [147]. - The company has implemented a performance evaluation and incentive mechanism linking management compensation to operational performance [149]. - The company actively communicates with stakeholders to balance interests among shareholders, employees, and society [150]. - The company emphasizes the importance of information disclosure and investor relations management, ensuring transparency and fairness for all investors [151]. Financial Management and Capital Structure - The company plans to distribute cash dividends of 4.0 yuan per 10 shares, totaling 25,822,080 yuan, based on a total share capital of 64,555,200 shares as of December 31, 2023 [191]. - The company has not proposed any cash dividend distribution despite having positive distributable profits for the reporting period [195]. - The company has established a three-party/four-party supervision agreement for the management of fundraising, ensuring compliance and transparency [115]. - The company has a governance structure that complies with legal regulations, including a board of directors and supervisory board, ensuring independent management [157]. - The company has a total of 85,623.87 hours of outsourced labor, with total payments amounting to 1,181,430.95 yuan [189]. Employee and Talent Management - The total number of employees at the end of the reporting period is 468, with 136 in the parent company and 332 in major subsidiaries [186]. - The company has established a standardized salary management system, linking employee compensation closely to performance and company operational status [187]. - The company emphasizes internal training for new employees and external training for specific employee groups to enhance skills [188]. - The company will enhance its employee training system to improve overall team capabilities and establish a performance-based compensation management system to boost employee motivation and responsibility [129]. Future Outlook and Strategic Initiatives - The company plans to expand its production base for high-efficiency motors, with a projected output of 3.88 million units by 2024 [117]. - The company is set to launch a new service management system by September 2024, with an expected operational capacity of 3.15 million [117]. - The company aims to enhance its core competitiveness by focusing on AI applications in smart office, smart travel, and smart healthcare sectors [126]. - The company anticipates that macroeconomic fluctuations may impact market demand, and it will enhance its operational management and market development efforts to mitigate risks [134]. - The company is committed to improving operational efficiency and reducing costs in the next financial period [165].