Financial Performance - The company's revenue for Q1 2025 was ¥212,687,454.17, a decrease of 0.78% compared to ¥214,360,297.73 in the same period last year[5] - Net profit attributable to shareholders was ¥16,150,006.29, down 9.64% from ¥17,873,426.37 year-on-year[5] - Basic and diluted earnings per share decreased by 22.22% to ¥0.14 from ¥0.18 in the same period last year[5] - Total operating revenue for the current period was ¥212,687,454.17, a decrease of 0.79% compared to ¥214,360,297.73 in the previous period[20] - Net profit decreased to ¥16,150,006.29 from ¥17,873,426.37, reflecting a decline of about 9.6% compared to the previous period[22] - Total comprehensive income amounted to ¥16,214,028.67, down from ¥17,799,883.13, a decrease of approximately 8.9%[22] Cash Flow - The net cash flow from operating activities was negative at -¥33,969,610.38, a decline of 294.61% compared to ¥17,455,622.26 in the previous year[5] - Cash flow from operating activities showed a net outflow of ¥33,969,610.38, contrasting with a net inflow of ¥17,455,622.26 in the prior period[25] - Investment activities resulted in a net cash outflow of ¥55,028,612.04, compared to a net outflow of ¥46,054,657.42 in the previous period[25] - Financing activities generated a net cash inflow of ¥80,930,918.79, down from ¥381,992,035.01, a decline of approximately 78.8%[25] - Cash and cash equivalents at the end of the period were ¥265,810,509.18, down from ¥452,079,086.43, a decrease of about 41.3%[26] Assets and Liabilities - Total assets increased by 2.21% to ¥1,749,747,123.68 from ¥1,711,983,351.37 at the end of the previous year[5] - Current assets totaled ¥940,443,010.85, slightly up from ¥939,139,911.77 at the beginning of the period[17] - Total liabilities amounted to ¥808,975,956.97, up from ¥787,426,213.33, indicating an increase of approximately 2.09%[18] - Non-current assets increased to ¥809,304,112.83 from ¥772,843,439.60, representing a growth of about 4.69%[17] - Short-term borrowings rose to ¥462,733,945.50 from ¥398,727,631.60, an increase of approximately 16.06%[18] - Long-term borrowings increased to ¥105,499,460.82 from ¥96,895,640.69, a rise of approximately 8.25%[18] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 8,282[10] - The largest shareholder, New Asia Investment Limited, holds 36.01% of the shares, totaling 42,803,571 shares[10] - The top 10 unrestricted shareholders hold a total of 43,000,000 shares, with the largest shareholder, Daya Industrial Fund Management Co., holding 14,345,313 shares, representing 5.38% of total shares[11] - The company has a total of 6,400,000 shares held by Jianshi Xiboju Xin Sihao Venture Capital Partnership, also representing 5.38% of total shares[11] - Wang Zhongyuan holds 3,118,000 shares, accounting for 2.62% of total shares[11] - The total number of shares held by the top 10 unrestricted shareholders includes 1,529,655 shares from the CICC - Industrial Bank - CICC Meixin No.1 Employee Participation Strategic Placement Asset Management Plan[11] - The company has a total of 1,200,000 shares held by Ningbo Henglin Shengchuang Investment Partnership, representing 1.01% of total shares[11] Share Release Plans - The total number of restricted shares at the beginning of the period was 14,345,313, with all of them being released during the period[13] - The company plans to release 6,400,000 shares from Jianshi Xiboju Xin Sihao Venture Capital Partnership on March 13, 2025[13] - The total number of restricted shares held by Wang Zhongyuan is 3,190,000, which will also be released on March 13, 2025[13] - The company has a total of 1,160,000 shares held by Xinyu Tianda Zhiyuan Enterprise Management Partnership, which will be released on March 13, 2025[13] - The company has a total of 800,000 shares held by Huizhou Hengxin Shengwu Technology Co., which will be released on March 13, 2025[13] Operational Highlights - Revenue from sales of goods and services reached ¥196,012,467.17, up from ¥177,042,610.63, indicating an increase of approximately 10.7% year-over-year[24] - Total operating costs increased to ¥192,167,255.43 from ¥189,819,826.52, representing a rise of approximately 1.8% year-over-year[21] - The company plans to continue expanding its market presence and invest in new product development[15] Other Income - The company reported a 236.53% increase in other income to ¥181,255.39, mainly due to increased government subsidies[8] - Other receivables increased by 131.84% to ¥21,443,063.01, primarily due to increased rental deposits from overseas subsidiaries[8] Inventory and Receivables - Accounts receivable increased to ¥203,084,458.11 from ¥181,760,858.64, reflecting a growth of approximately 11.66%[17] - Inventory decreased to ¥340,157,294.78 from ¥362,111,206.42, a reduction of about 6.05%[17] Return on Equity - The weighted average return on equity was 1.73%, down from 2.49% in the same period last year, a decrease of 0.76%[5]

Financial Performance - The company's revenue for Q1 2025 reached ¥2,605,313,851.05, representing a year-over-year increase of 36.47%[4] - Net profit attributable to shareholders was ¥248,565,301.08, up 36.26% compared to the same period last year[4] - The net profit after deducting non-recurring gains and losses increased by 62.46% to ¥234,265,747.12, primarily due to a decrease in non-recurring gains and losses by 62.59%[4] - Cash received from sales of goods and services increased by 42.72% to ¥2,603,886,397.75, reflecting the growth in revenue[12] - The company achieved a total revenue of 2.61 billion yuan in Q1 2025, representing a year-over-year growth of 36.5%[19] - The net profit attributable to shareholders reached 250 million yuan, with a year-over-year increase of 36.3%, while the net profit excluding non-recurring items was 230 million yuan, up 62.5%[19] - Total operating revenue for the current period reached ¥2,603,886,397.75, an increase of 42.7% compared to ¥1,824,449,756.14 in the previous period[33] - Net profit attributable to the parent company was ¥248,565,301.08, up 36.3% from ¥182,424,811.95 year-over-year[31] - Total comprehensive income for the current period was ¥258,677,968.39, compared to ¥194,542,000.87 in the previous period, reflecting a growth of 32.9%[31] Cash Flow and Assets - The company's cash flow from operating activities showed a net outflow of ¥230,322,471.93, a decline of 40.90% year-over-year, mainly due to increased payments for accounts payable and taxes[4] - The company reported a net cash flow from operating activities of -¥230,322,471.93, worsening from -¥163,462,761.04 in the previous period[34] - Cash and cash equivalents at the end of the period were ¥1,217,526,685.94, down from ¥3,722,529,027.60 year-over-year[35] - Total assets at the end of the reporting period were ¥17,788,836,031.96, down 3.28% from the end of the previous year[4] - The company reported total assets of approximately 17.79 billion yuan as of March 31, 2025, down from 18.39 billion yuan at the beginning of the period[25][27] - The total liabilities decreased from approximately 6.52 billion yuan to 5.64 billion yuan during the same period[27] Segment Performance - The medical segment revenue grew by 46.3%, while the consumer goods segment revenue increased by 28.8%[4] - The medical segment generated 1.25 billion yuan in revenue, with a year-over-year growth of 46.3%, including 300 million yuan from the newly acquired company GRI[20] - Key product categories in the medical segment saw significant growth: surgical consumables at 370 million yuan (up 196.8%), high-end dressings at 220 million yuan (up 21.1%), and health personal care products at 120 million yuan (up 39.8%)[20] - In the consumer sector, the company reported operating revenue of 1.34 billion yuan, a year-on-year increase of 28.8%[21] - The sales revenue of the Princess Nais sanitary napkin reached 310 million yuan, growing 73.5% year-on-year, leading the development of the entire category[21] - The core categories of wet and dry cotton soft towels and adult clothing achieved operating revenues of 370 million yuan and 250 million yuan, with year-on-year growth rates of 38.6% and 23.4%, respectively[21] - E-commerce channels contributed 59.9% of the revenue for the consumer goods sector during the reporting period[21] Expenses and Investments - The company reported a significant increase in management expenses by 43.28% due to the contribution from newly acquired companies[11] - The company experienced a 68.74% decrease in investment income, primarily due to increased losses from associated enterprises[11] - Research and development expenses increased to ¥92,098,187.41, representing a rise of 21.1% from ¥75,999,859.76 in the previous period[30] - The company incurred a total tax expense of ¥72,532,819.09, which is an increase from ¥30,247,700.49 in the previous period[30] - The company’s total operating costs increased to ¥2,256,241,035.86, up 32.1% from ¥1,707,213,229.42 in the previous period[30] Shareholder Information - The total number of common shareholders at the end of the reporting period was 21,410[14] - The largest shareholder, Steady Group Limited, holds 69.83% of the shares, totaling 406,614,387 shares[14] - The company has a commitment to extend the lock-up period for its controlling shareholder's shares until September 16, 2025[18] Strategic Focus - The company maintains a strong focus on quality over profit, brand over speed, and social value over corporate value as part of its core operational principles[19] - The company emphasizes a strategy of product leadership, excellent operations, and a global perspective for sustainable growth[19] - The company plans to enhance its brand image through innovative green technology and active participation in social responsibility initiatives[22] - The company is focusing on product development and market expansion, particularly in strategic categories, to improve its industry ranking[23] Growth Channels - The company’s foreign sales channels continue to grow rapidly, contributing to overall revenue growth[20] - The company achieved operating revenue of 700 million yuan, representing a year-on-year growth of 84.1%, with C-end business (domestic pharmacies and e-commerce channels) growing over 40%[21] - Investment activities generated a net cash flow of ¥559,585,668.05, a significant improvement from -¥309,795,884.33 in the previous period[34] - Basic and diluted earnings per share were both ¥0.43, an increase from ¥0.31 in the previous period[31]

Financial Performance - Revenue for Q1 2025 was ¥421,004,187.88, a decrease of 25.99% compared to ¥568,856,745.84 in the same period last year[4] - Net profit attributable to shareholders was -¥87,732,945.81, representing a decline of 146.03% from -¥35,659,979.04 year-over-year[4] - The net cash flow from operating activities was -¥82,460,305.69, a significant drop of 419.44% compared to ¥25,813,931.15 in the previous year[4] - The basic and diluted earnings per share were both -¥0.13, a decline of 160.00% from -¥0.05 in the same period last year[4] - The weighted average return on equity was -8.68%, down 6.81% from -1.87% year-over-year[4] - Total operating revenue for the current period is ¥421,004,187.88, a decrease of 26.0% from ¥568,856,745.84 in the previous period[19] - The net profit for the current period is a loss of ¥80,072,625.44, compared to a loss of ¥28,629,807.17 in the previous period, representing an increase in loss of 179.5%[20] - The total comprehensive income for the current period is a loss of ¥80,115,222.89, compared to a loss of ¥28,625,879.70 in the previous period[20] Assets and Liabilities - Total assets at the end of the reporting period were ¥7,443,659,743.86, a decrease of 0.73% from ¥7,498,398,859.64 at the end of the previous year[4] - The company's cash and cash equivalents decreased from ¥131,741,496.06 to ¥57,521,160.42, a decline of approximately 56.4%[16] - Accounts receivable increased from ¥810,129,690.20 to ¥908,036,996.48, representing a growth of about 12.1%[16] - Inventory decreased from ¥340,919,525.62 to ¥311,394,935.92, a reduction of approximately 8.7%[16] - Total current liabilities increased from ¥5,382,016,741.51 to ¥5,777,245,299.89, an increase of about 7.3%[17] - The company's total assets decreased from ¥7,498,398,859.64 to ¥7,443,659,743.86, a decline of approximately 0.7%[17] - The total equity attributable to shareholders decreased from ¥1,054,899,213.92 to ¥967,123,670.66, a decrease of about 8.3%[18] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 50,635[10] - The largest shareholder, Guangzhou Kunlun Investment Co., Ltd., held 22.59% of the shares, totaling 149,409,921 shares[10] Government and Regulatory Matters - The company reported a government subsidy of ¥1,202,742.95 during the period[5] - The company has not yet received a formal administrative penalty decision from the regulatory authority regarding the previous non-operating fund occupation[12] Operational Changes - The company has completed the repayment of non-operating funds occupied by the controlling shareholder, totaling ¥3,679,200.00, through a debt offset arrangement[12] - The company is currently undergoing a pre-restructuring process with appointed temporary managers to oversee the proceedings[14] - The company reported a significant increase in accounts receivable financing from ¥7,747,175.19 to ¥1,089,738.65, indicating a shift in financing strategy[16] Expenses - Total operating costs for the current period are ¥484,017,651.17, down 18.1% from ¥591,588,915.65 in the previous period[19] - Research and development expenses for the current period are ¥15,977,095.47, a decrease of 7.8% from ¥17,327,643.17 in the previous period[19] - The company incurred a credit impairment loss of ¥1,241,310.64, compared to a loss of ¥568,029.24 in the previous period[20] Audit Status - The company has not yet audited the first quarter report for the current year[25]

Revenue and Profitability - The company's revenue for Q1 2025 was ¥274,480,916.28, representing a 21.28% increase compared to ¥226,323,527.36 in the same period last year[5] - Net profit attributable to shareholders decreased by 58.56% to ¥10,015,932.27 from ¥24,169,441.26 year-on-year[5] - Basic earnings per share fell by 58.32% to ¥0.1082 from ¥0.3625 in the same period last year[5] - Net profit for the period was ¥9,742,987.74, a decrease of 56.2% compared to ¥22,229,957.52 from the previous period[22] - Operating profit decreased to ¥12,460,281.96 from ¥26,251,413.53, reflecting a decline of approximately 52.6%[21] - The company reported a basic earnings per share of ¥0.1082, down from ¥0.2596 in the previous period, a decline of approximately 58.3%[22] Cash Flow and Investments - The net cash flow from operating activities was negative at -¥6,830,950.71, a decline of 121.66% compared to ¥31,539,636.58 in the previous year[5] - Cash flow from operating activities was ¥309,950,530.24, compared to ¥295,484,253.89 in the previous period, indicating an increase of about 4.6%[24] - Net cash flow from operating activities decreased to -$6.83 million from $31.54 million year-over-year[25] - Total cash inflow from investment activities increased significantly to $906.90 million from $445.71 million[25] - Cash outflow for investment activities totaled $760.88 million, up from $464.45 million in the previous period[25] - Cash received from other investment activities amounted to $906 million, a substantial increase from $443.38 million[25] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,703,715,368.38, a decrease of 1.47% from ¥1,729,098,415.20 at the end of the previous year[5] - Total current assets decreased to approximately RMB 1.19 billion from RMB 1.23 billion, a decline of 3.99%[17] - Long-term equity investments decreased to approximately RMB 40.76 million from RMB 43.90 million, a decrease of 7.67%[17] - Total liabilities decreased to ¥267,237,651.78 from ¥308,763,686.33, a reduction of about 13.5%[21] - Total equity increased to ¥1,436,477,716.60 from ¥1,420,334,728.87, showing a growth of approximately 1.1%[21] - The total liabilities to equity ratio improved to approximately 18.6% from 21.7%[21] Shareholder Information - Total number of common shareholders at the end of the reporting period is 13,376[14] - The largest shareholder, Lü Bin, holds 21.45% of shares, totaling 19,845,000 shares[14] - The top 10 shareholders hold a combined 70.36% of the shares, indicating significant ownership concentration[14] - The company has no preferred shareholders or changes in restricted shares during the reporting period[16] - There are no known related party relationships among other shareholders outside the major shareholders[15] Expenses - The company reported a significant increase in sales expenses by 51.62% to ¥80,801,203.19, primarily due to increased marketing costs in the e-commerce channel[11] - Research and development expenses were ¥10,606,259.50, down from ¥12,731,927.95, a decrease of approximately 16.7%[21] - Cash paid for employee compensation increased to $132.83 million from $114.68 million[25] - Cash paid for taxes decreased to $7.82 million from $10.74 million[25]

Financial Performance - The company's operating revenue for Q1 2025 was ¥500,923,683.64, representing a 67.74% increase compared to ¥298,630,575.04 in the same period last year[5] - The net loss attributable to shareholders was ¥43,083,225.19, a 42.24% increase from a loss of ¥30,289,147.99 in the previous year[5] - The net loss for the current period was ¥43,580,184.38, compared to a net loss of ¥31,669,691.69 in the previous period, reflecting a deterioration in profitability[20] - The company reported a total comprehensive loss of ¥42,075,254.95, compared to a loss of ¥32,159,965.16 in the prior period[21] - The basic and diluted earnings per share were both reported at -0.0252, compared to -0.0178 in the previous period, indicating a decline in earnings performance[21] Cash Flow - The net cash flow from operating activities decreased by 508.79%, amounting to -¥141,160,334.11, compared to ¥34,531,660.11 in the same period last year[5] - Cash flow from operating activities generated a net outflow of ¥141,160,334.11, contrasting with a net inflow of ¥34,531,660.11 in the previous period[22] - Net cash flow from investing activities was -$146.6 million, compared to $80.1 million in the previous period[23] - The net increase in cash and cash equivalents was -$257.6 million, contrasting with a positive increase of $159.7 million previously[23] - The ending balance of cash and cash equivalents stood at $420.7 million, compared to $321.5 million at the end of the previous period[23] Assets and Liabilities - The company's total assets at the end of the reporting period were ¥6,558,336,564.28, a decrease of 1.24% from ¥6,640,996,631.95 at the end of the previous year[5] - The total current assets decreased from CNY 2,913,807,951.00 to CNY 2,696,592,644.48, a decline of approximately 7.45%[15] - Total liabilities rose from CNY 2,252,105,665.46 to CNY 2,341,309,239.00, an increase of about 3.95%[16] - The total liabilities decreased from ¥3,127,890,259.86 to ¥3,087,395,709.96, showing a slight improvement in the company's leverage[19] - The total equity attributable to shareholders decreased from ¥3,504,821,893.73 to ¥3,463,153,335.15, reflecting the impact of the net loss on shareholder value[19] Revenue and Costs - The increase in operating revenue was primarily driven by higher sales volume of lithium salt products[9] - Total operating costs amounted to ¥554,459,045.02, up 58.5% from ¥349,748,342.71 in the prior period, with operating costs specifically rising from ¥272,656,912.06 to ¥472,465,276.95[19] - The gross profit margin declined due to a decrease in sales prices of lithium salt products, contributing to the overall profit decline[9] Financial Expenses - The financial expenses increased by 141.54% due to higher loan amounts and corresponding interest expenses[12] - The company’s financial expenses rose significantly to ¥8,115,566.43 from ¥3,359,890.62, primarily due to increased interest expenses[19] Current Assets and Liabilities - The company experienced a 582.29% increase in current liabilities due to an increase in short-term borrowings[12] - Short-term borrowings increased from CNY 786,499,375.98 to CNY 806,700,668.33, a rise of approximately 2.83%[16] - Long-term borrowings decreased from CNY 756,544,237.64 to CNY 633,680,000.00, a decline of about 16.24%[16] Other Income and Expenses - The company reported a significant increase in other income, which rose by 508.72% due to increased government subsidies[12] - Research and development expenses increased to ¥17,932,795.56, up from ¥16,176,289.97, indicating a focus on innovation[19] Inventory and Receivables - Accounts receivable increased from CNY 508,875,393.63 to CNY 522,847,370.85, showing a growth of approximately 2.14%[15] - Inventory decreased from CNY 452,143,972.41 to CNY 427,822,940.86, a reduction of about 5.37%[15] - The company reported a significant increase in prepayments from CNY 30,335,064.82 to CNY 106,921,920.99, an increase of about 252.06%[15] Audit Status - The first quarter report was not audited, indicating preliminary financial results[24]

Financial Performance - The company's operating revenue for Q1 2025 reached ¥200,492,755.86, representing a 55.76% increase compared to the same period last year[4] - The net loss attributable to shareholders decreased to ¥33,897,131.44, a reduction of 41.32% year-on-year[4] - The net cash flow from operating activities improved significantly to ¥59,064,345.02, marking a 140.58% increase from the previous year[4] - Main business revenue increased by 55.76% to ¥200,492,755.86, primarily due to an increase in project acceptance[15] - Cash received from sales increased by 56.54% to ¥518,985,176.37, mainly due to higher sales collections[18] - Tax expenses decreased by 53.59% to ¥26,907,992.43, primarily due to a reduction in corporate income tax payments[18] - The company's net profit for the current period was not explicitly stated but reflects ongoing challenges with investment losses totaling ¥-4,411,324.51[31] - The net profit for the current period is -33,078,329.67, compared to -59,165,944.18 in the previous period, showing an improvement[32] - The total comprehensive income for the current period is -31,165,868.38, compared to -59,837,506.33 in the previous period, indicating a significant reduction in losses[32] - Operating cash flow for the current period is 59,064,345.02, a turnaround from -145,541,603.92 in the previous period[35] - Revenue from sales of goods and services received cash of 518,985,176.37, compared to 331,543,134.68 in the previous period, reflecting a growth of approximately 56.5%[35] - The basic and diluted earnings per share for the current period are both -0.15, an improvement from -0.25 in the previous period[34] Assets and Liabilities - The total assets at the end of the reporting period were ¥4,175,604,112.15, a decrease of 1.39% from the end of the previous year[4] - Total operating costs amounted to ¥248,995,935.75, up from ¥208,890,832.93, indicating an increase of about 19.2%[31] - Cash and cash equivalents increased to ¥772,442,466.04 from ¥664,272,604.75, reflecting a growth of approximately 16.3%[27] - Accounts receivable decreased to ¥1,679,712,500.06 from ¥1,883,381,059.64, a reduction of about 10.8%[27] - Inventory increased to ¥413,698,890.69 from ¥386,441,969.73, showing a rise of approximately 7.0%[27] - Total liabilities decreased to ¥2,742,395,629.36 from ¥2,770,189,268.56, a reduction of approximately 1.0%[30] - The company reported a decrease in undistributed profits to ¥110,188,054.73 from ¥144,085,186.17, a decline of about 23.5%[30] Shareholder Information - The number of common shareholders at the end of the reporting period was 14,990[20] - The largest shareholder, China Telecom Group, holds 18.68% of shares, totaling 43,459,615 shares[20] - The company reported a total of 43,459,615 shares held by China Telecom Group Investment Co., accounting for 18.68% of the total shares[21] - Tianfu Qingyuan Holdings Co. holds 18,975,126 shares, representing 8.16% of the total shares[21] - The top 10 unrestricted shareholders collectively hold 118,000,000 shares, with significant contributions from various investment firms[21] - The total number of shares held by the top 10 unrestricted shareholders has not changed significantly from the previous period[21] - The company has a consistent action agreement with its major shareholders regarding significant decision-making matters[21] - The company has not reported any changes in the status of restricted shares during the current period[23] Research and Development - Research and development expenses decreased by 30.00% to ¥22,806,168.06, attributed to reduced R&D investment[15] - The company has accelerated new product development and market promotion, focusing on AI integration and public safety technology advancements[8] - The "Star·Chansi" public safety industry model has been optimized, integrating over 270 disaster simulation models and scenario simulation engines[8] - The company launched an "integrated air-ground" intelligent firefighting platform, enhancing capabilities in complex environments[8] Project and Contract Updates - The urban lifeline safety project won the first prize at the China Association for the Promotion of Industry-University-Research Cooperation Innovation Achievement Awards in March 2025[9] - The company has completed the audit settlement for the drainage and water supply contract of the Hefei Urban Lifeline Project Phase II[24] - Major contracts related to the Customs Management Information System have been largely delivered, with ongoing infrastructure installations[24] - The company has completed acceptance for several urban lifeline safety engineering projects, with audit settlements currently being organized[26] - The company is actively involved in the review process for the monitoring and early warning projects in various cities[26] Investment and Financing - Accounts receivable financing decreased by 97.01% to ¥321,559.25 due to an increase in bill endorsements transferred for collection[13] - Cash received from bank loans increased by 57.00% to ¥460,787,459.46, reflecting an increase in bank loan receipts[18] - The company incurred a credit impairment loss of 26,330,328.00, compared to 9,989,050.39 in the previous period, indicating an increase in credit risk[32] - The company reported a net cash outflow from investing activities of -1,966,862.68, compared to -21,318,897.61 in the previous period, showing a decrease in investment losses[36] - The company’s total liabilities increased, with cash received from borrowings amounting to 460,787,459.46, compared to 293,490,000.00 in the previous period[36] - The company’s other comprehensive income after tax for the current period is 1,912,461.29, compared to -671,562.15 in the previous period, indicating a positive shift[32]

Financial Performance - The net profit attributable to shareholders for 2024 is -648,953,412.48 CNY, indicating a loss [5]. - As of December 31, 2024, the company's undistributed profits stand at -15,306,093.21 CNY, which does not meet the conditions for profit distribution [5]. - The company plans to not distribute cash dividends, issue bonus shares, or increase capital reserves for the 2024 fiscal year [5]. - The company's operating revenue for 2024 was CNY 710,705,157.20, a decrease of 58.93% compared to CNY 1,730,590,304.11 in 2023 [20]. - The net profit attributable to shareholders of the listed company for 2024 was a loss of CNY 648,953,412.48, a decline of 466.85% from a profit of CNY 176,900,113.71 in 2023 [20]. - The net cash flow from operating activities for 2024 was a negative CNY 388,226,377.49, compared to a negative CNY 177,701,673.24 in 2023 [20]. - The net assets attributable to shareholders of the listed company decreased by 27.39% to CNY 1,680,415,196.46 at the end of 2024 from CNY 2,314,250,339.73 at the end of 2023 [20]. - The revenue from core business activities, after excluding non-core income, was CNY 649,674,516.66 in 2024, down 62.13% from CNY 1,715,705,436.10 in 2023 [20]. - The net profit excluding non-recurring gains and losses for 2024 was a loss of CNY 662,061,580.70, a decline of 585.83% from a profit of CNY 136,275,219.52 in 2023 [20]. - In 2024, the company's basic earnings per share decreased to -1.63 yuan, a decline of 446.81% compared to 2023 [22]. Audit and Compliance - The company has received a standard unqualified audit report from Tianjian Accounting Firm [4]. - The company is in compliance with the regulations regarding the authenticity and completeness of the annual report [3]. - The company has not violated decision-making procedures for external guarantees [7]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties [7]. - The company has not proposed any plans for special governance arrangements [7]. Risks and Challenges - The company has detailed potential risks in the report, which can be found in the section on "Risk Factors" [3]. - The future plans and strategic developments mentioned in the report do not constitute a substantive commitment to investors [6]. - The company faces risks related to product price fluctuations, with a comprehensive price decline in the photovoltaic industry impacting overall revenue and profit margins [99]. - The company anticipates a potential decline in new installations in 2025 due to market-driven changes and policy shifts [111]. - The global photovoltaic market is expected to see a growth rate of only 10% in new installations by 2025, indicating a challenging environment [111]. - The company faces risks from geopolitical tensions and trade barriers affecting the photovoltaic industry, particularly in the EU and US markets [110]. Research and Development - Research and development expenses accounted for 32.57% of operating revenue, an increase of 23.16 percentage points compared to the previous year [22]. - The company has increased R&D investment to enhance product competitiveness amid intensified industry competition [40]. - The company has developed 24 proprietary core technologies related to silicon materials and photovoltaic cell manufacturing [69]. - The company achieved a total R&D investment of approximately ¥231.49 million, representing a 42.17% increase compared to the previous year [77]. - The company is focusing on key technologies to address manufacturing challenges in photovoltaic cells, aiming for cost reduction and efficiency improvement [72]. - The company is advancing towards mass production of its newly developed components, which aim to reduce shading and silver paste usage [72]. - The company has filed 39 patents related to the new bifacial component technology, with 20 being invention patents, and is actively pursuing an additional 56 patents to strengthen its intellectual property portfolio [67]. Market Position and Strategy - The company is positioned as a photovoltaic new technology platform supplier, focusing on differentiated strategies and original technologies in the photovoltaic industry [62]. - The company has established a stable customer base and maintains a relatively high market share and good reputation for its products and services [52]. - The company aims to be a leader in technological innovation within the photovoltaic industry, focusing on original technology development and a "Blue Ocean Strategy" to create value for customers and partners [170]. - The company is currently constructing battery manufacturing equipment with a designed capacity of 190 units, expected to be operational by Q2 2026 [148]. - The company plans to invest 28,841.93 million RMB in a new crystalline silicon battery module project with a designed capacity of 1 GW, expected to commence production between 2025 and 2026 [148]. Governance and Management - The company has held 2 shareholder meetings and 9 board meetings during the reporting period, ensuring compliance with legal and regulatory requirements [176]. - The company maintained transparency in information disclosure, adhering to regulations to protect minority shareholders' rights [179]. - The company’s governance structure aligns with the requirements of the Shanghai Stock Exchange and relevant regulations, ensuring no significant discrepancies [179]. - The company’s board and supervisory board operate independently, promoting healthy development and protecting shareholder interests [178]. - The total remuneration for directors and senior management during the reporting period amounted to 971.47 million yuan [185]. Production and Operations - The company completed the construction of a 4GW project and officially launched 3GW of TOPCon silicon wafers and batteries in the second half of 2024 [42]. - The average selling price of the company's batteries decreased by 63.6% year-over-year due to overall price declines in the photovoltaic industry [42]. - The company operates a mixed production model, combining order-based and stock-based production strategies to meet customer demands efficiently [51]. - The company has established a comprehensive quality control system covering production material management, process management, and product quality inspection, certified by ISO standards [51]. - The company is focused on providing innovative technical solutions to industry challenges, leveraging its deep understanding of silicon materials and the photovoltaic production chain [65].

Financial Performance - The company's sales reached ¥512,108,285.84, representing a year-on-year increase of 26.60% compared to ¥404,497,043.91 in the same period last year[4]. - Operating revenue for the quarter was ¥475,488,325.65, up 21.62% from ¥390,946,762.39 in the previous year[4]. - Net profit attributable to shareholders was ¥91,735,483.67, reflecting a 13.22% increase from ¥81,024,703.84 year-on-year[4]. - Total revenue for Q1 2025 reached CNY 475,488,325.65, an increase of 21.6% compared to CNY 390,946,762.39 in Q1 2024[17]. - Net profit for Q1 2025 was CNY 80,633,918.47, compared to CNY 73,410,291.06 in Q1 2024, representing a growth of 9.3%[18]. - The net profit attributable to the parent company shareholders for Q1 2025 was approximately ¥91.74 million, an increase from ¥81.02 million in Q1 2024, representing a growth of 13.4%[19]. - The total comprehensive income for Q1 2025 was approximately ¥80.80 million, compared to ¥75.33 million in Q1 2024, reflecting an increase of 7.3%[19]. - The basic and diluted earnings per share for Q1 2025 were both ¥0.16, up from ¥0.14 in Q1 2024, indicating a 14.3% increase[19]. Cash Flow - The net cash flow from operating activities improved significantly, with a net outflow of ¥33,816,646.47, a 73.09% reduction compared to a net outflow of ¥125,646,118.28 in the previous year[4][7]. - Cash inflows from operating activities in Q1 2025 totaled approximately ¥384.53 million, down from ¥460.01 million in Q1 2024, a decrease of 16.4%[22]. - The net cash flow from operating activities for Q1 2025 was negative at approximately -¥33.82 million, an improvement from -¥125.65 million in Q1 2024[22]. - Cash outflows from investing activities in Q1 2025 amounted to approximately ¥843.48 million, compared to ¥762.88 million in Q1 2024, an increase of 10.6%[23]. - The net cash flow from investing activities for Q1 2025 was negative at approximately -¥587.50 million, worsening from -¥208.22 million in Q1 2024[23]. - Cash inflows from financing activities in Q1 2025 were approximately ¥823.30 million, significantly higher than ¥426.07 million in Q1 2024, marking an increase of 93.2%[23]. - The net cash flow from financing activities for Q1 2025 was approximately ¥408.14 million, slightly down from ¥421.06 million in Q1 2024[23]. - The ending cash and cash equivalents balance for Q1 2025 was approximately ¥4.26 billion, a slight increase from ¥4.25 billion in Q1 2024[23]. Assets and Liabilities - Total assets increased by 12.56% to ¥9,684,304,892.36 from ¥8,603,796,143.70 at the end of the previous year[5]. - Total assets increased to CNY 9,684,304,892.36 as of March 31, 2025, from CNY 8,603,796,143.70 at the end of 2024[15]. - Total liabilities rose to CNY 2,251,421,445.81 as of March 31, 2025, compared to CNY 1,258,010,592.97 at the end of 2024[15]. - Non-current assets totaled CNY 3,908,114,618.51 as of March 31, 2025, up from CNY 2,814,236,319.40 at the end of 2024[14]. - The company reported a significant increase in fixed assets, which rose to CNY 1,217,392,222.99 from CNY 1,091,496,466.67[14]. - The company’s long-term borrowings increased to CNY 810,162,419.18 as of March 31, 2025, compared to CNY 396,646,274.01 at the end of 2024[15]. - The company’s total equity as of March 31, 2025, was CNY 7,432,883,446.55, slightly up from CNY 7,345,785,550.73 at the end of 2024[15]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 20,629[9]. - The largest shareholder, Dai Lizhong, holds 32.83% of the shares, totaling 190,205,090 shares[10]. Research and Development - Research and development expenses totaled ¥61,266,076.45, accounting for 12.88% of operating revenue, down from 16.35% in the previous year[5]. Return on Equity - The weighted average return on equity rose to 1.26%, an increase of 0.14 percentage points from 1.12%[4]. - The company reported non-recurring gains of ¥1,237,647.73 for the period, after accounting for tax effects and minority interests[6].

Financial Performance - The company reported a significant increase in revenue for the first half of 2024, achieving a total of RMB 500 million, representing a growth of 25% year-over-year[1]. - The company achieved operating revenue of RMB 568.97 million in the first half of the year, an increase of 29.67% compared to RMB 438.77 million in the same period last year[19]. - Net profit attributable to shareholders reached RMB 69.39 million, up 291.89% from RMB 17.71 million year-on-year[22]. - The net profit after deducting non-recurring gains and losses was RMB 35.52 million, a significant increase of 5,031.13% compared to RMB 0.69 million in the previous year[22]. - Basic earnings per share were RMB 0.26, representing a 136.36% increase from RMB 0.11 in the same period last year[21]. - The gross profit margin for the reporting period was 43.62%[98]. - The total comprehensive income for the first half of 2024 was ¥69,077,430.20, compared to ¥18,571,251.05 in the same period of 2023, marking an increase of 272.5%[191]. - The company's net profit for the first half of 2024 reached ¥73,667,660.11, a significant increase from ¥10,547,014.65 in the same period of 2023, representing a growth of approximately 600%[194]. User Growth and Market Expansion - User data indicates a rise in active users to 1.2 million, up from 900,000 in the same period last year, marking a 33% increase[1]. - The company is expanding its market presence in Europe, targeting a 10% market share by the end of 2025[1]. - The company plans to implement new marketing strategies to boost brand awareness, with a budget increase of 15% for the upcoming quarter[1]. - The company is actively developing domestic alternatives for core imported components to mitigate reliance on foreign suppliers[91]. - The company is focusing on market expansion in the fields of aerospace, automotive, and medical applications for its metal additive manufacturing technology[67]. Research and Development - Research and development expenses increased to RMB 50 million, accounting for 10% of total revenue, reflecting a commitment to innovation[1]. - Research and development expenses totaled RMB 107.92 million, accounting for 18.97% of operating revenue, although this percentage decreased by 0.16 percentage points compared to the previous year[24]. - The company achieved a research and development investment of CNY 107.92 million in the current period, representing a 28.60% increase compared to CNY 83.93 million in the same period last year[59]. - The company has filed 616 patents, with 343 granted, including 98 invention patents, showcasing its strong independent innovation capabilities[45]. - The company has developed new titanium alloy powders TC4, TA15, and TC11 for DED applications, enhancing its material offerings[54]. Strategic Acquisitions and Investments - The company has completed a strategic acquisition of a smaller tech firm for RMB 100 million, aimed at enhancing its technological capabilities[1]. - The company is considering strategic acquisitions to bolster its product portfolio, with a budget of $300 million earmarked for potential deals[138]. - The company has invested a total of RMB 360,606.51 million in various projects, with specific allocations for metal additive manufacturing smart factories and large-scale production bases[147]. Environmental and Compliance - The company has established an environmental protection mechanism and invested 1.528 million yuan in environmental protection funds during the reporting period[120]. - The company reported that the dust emission concentration from its operations is approximately 1.4 mg/m³, significantly below the standard limit of 120 mg/m³[122]. - The company has implemented a rainwater and sewage diversion system to ensure compliance with environmental requirements[123]. - The company is not classified as a heavy polluter and generates minimal pollutants during its operations[121]. Shareholder and Equity Information - The company will strictly adhere to the restrictions on the circulation of shares and voluntary lock-up commitments made regarding its holdings[131]. - The company reported a 12-month lock-up period for shareholders post-IPO, during which no shares can be transferred or managed by others[134]. - The total number of shareholders reached 7,345 by the end of the reporting period[162]. - The largest shareholder, Zhe Shengyang, holds 45,041,825 shares, accounting for 16.57% of the total shares[164]. - The company implemented a capital reserve conversion into share capital in May 2024, impacting the shareholding structure and equity incentives[175].

Financial Performance - The company achieved a net profit attributable to shareholders of RMB 141,593,578.57 for the year 2023, with a proposed cash dividend of RMB 1.46 per 10 shares, totaling RMB 28,341,540.44[4] - The company's operating revenue for 2023 reached CNY 1,152,447,774.07, representing a year-on-year increase of 25.53%[19] - Net profit attributable to shareholders of the listed company was CNY 110,237,424.28, a growth of 38.67% compared to the previous year[19] - The net profit after deducting non-recurring gains and losses was CNY 74,288,039.56, reflecting a significant increase of 149.68% year-on-year[19] - The company's total assets at the end of 2023 amounted to CNY 6,525,692,550.87, up 115.26% from the previous year[19] - The net assets attributable to shareholders of the listed company increased to CNY 4,738,283,926.65, a rise of 209.82% year-on-year[21] - Basic earnings per share for 2023 were CNY 0.69, a slight decrease of 1.43% compared to the previous year[20] - The company's gross profit margin decreased due to a 45.81% increase in operating costs, which amounted to CNY 608.44 million[107] - The company reported a significant increase in financing activities, with net cash inflow of CNY 3,270.48 million, primarily from a targeted stock issuance[108] Research and Development - The company's R&D investment accounted for 15.92% of operating revenue, a decrease of 1.79 percentage points from the previous year[22] - Total R&D investment for 2023 amounted to 183.47 million yuan, representing 15.92% of total revenue[29] - R&D investment totaled ¥183.47 million, an increase of 12.86% compared to the previous year, with a proportion of 15.92% of operating income[69] - The company has filed a total of 542 patents, with 309 valid patents including 91 inventions, demonstrating strong independent innovation capabilities[47] - The company has developed a technology for support-free printing, allowing for the production of parts with overhang angles below 30°, expanding the application range of SLM technology[51] - The company has achieved significant progress in developing additive manufacturing processes for brittle materials, with successful trials eliminating internal micro-cracks[72] - The company is enhancing its R&D capabilities by addressing technical bottlenecks and meeting mass production requirements across multiple sectors[79] Operational Risks and Governance - The company has outlined various operational risks in its annual report, which investors are advised to review carefully[3] - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[6] - The company has not violated any decision-making procedures regarding external guarantees[6] - The company is committed to transparency and has ensured that all board members can guarantee the authenticity of the annual report[6] - The company has not disclosed any special arrangements for corporate governance[6] - The company has not reported any changes in voting rights or governance structure during the reporting period[153] - The company has not disclosed any new product developments or technological advancements in the recent reports[156] Market and Industry Position - The company operates in the manufacturing sector, specifically in the additive manufacturing equipment manufacturing industry, which is experiencing rapid growth[40] - The global 3D printing industry is dominated by the US, while China is advancing in additive manufacturing technology, particularly in high-value sectors like aerospace[41] - The demand for metal additive manufacturing materials has significantly increased due to the expansion of application fields, including energy, transportation, and medical sectors[43] - The company has become the largest domestic enterprise in metal additive manufacturing, covering the entire industry chain including raw materials, equipment, and customized products, with significant applications in aerospace, industrial machinery, and medical research[45] Employee and Management Structure - As of December 31, 2023, the company employed 1,720 people, with approximately 30% in R&D, and has accumulated over 440 additive manufacturing equipment and 1,610 laser units, making it the largest industrial base for metal additive manufacturing in China[47] - The company has established a performance management system and a robust compensation policy to enhance employee efficiency and satisfaction[187] - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to 7.6534 million RMB[173] - The total remuneration for core technical personnel at the end of the reporting period was 1.9591 million RMB[173] Strategic Plans and Future Outlook - The company aims to expand its 3D printing market from ¥40 billion in 2023 to ¥100 billion by 2027, reflecting a growth potential of 150%[137] - The company plans to enhance its international market presence by providing localized services to overseas clients[140] - The company is committed to continuous innovation in new product development and market expansion strategies to maintain its competitive edge[79] - The company is actively pursuing the development of key core technologies to transform innovative scientific achievements into new productive forces[139] - The company plans to implement lean production techniques to reduce costs and improve efficiency through new technologies and optimized processes[142] Shareholder Engagement and Capital Management - The company held 3 shareholder meetings during the reporting period, ensuring compliance with legal and regulatory requirements[146] - The company has implemented a capital reserve increase in May 2023, resulting in a share increase for shareholders[157] - The company reported a total pre-tax remuneration of 161.50 million yuan for Chairman Xue Lei in the reporting period[155] - The company has established a special account for funds raised from the issuance of A-shares in 2022[177] Financial Health and Cash Flow - The net cash flow from operating activities was CNY -130.64 million, and the net cash flow from investing activities was CNY -240.77 million[125] - Cash and cash equivalents at the end of the period amounted to 3.16 billion RMB, representing 48.44% of total assets, a significant increase from 262.11 million RMB (8.65%) in the previous period[127] - The company's total liabilities increased, with short-term borrowings rising by 47.98% to 609.92 million RMB due to operational funding needs[128] - The capital reserve increased by 260.24% to 4.19 billion RMB, primarily due to funds raised from a targeted stock issuance[129]