Financial Performance - The company reported a significant increase in revenue, achieving a total of RMB 1.2 billion for the fiscal year 2024, representing a growth of 15% compared to the previous year[19]. - The company's operating revenue for 2024 was CNY 5,054,170,661, a decrease of 6.98% compared to CNY 5,433,429,520 in 2023[24]. - Net profit attributable to shareholders for 2024 was CNY 218,253,099, an increase of 8.81% from CNY 200,581,177 in 2023[24]. - The net profit excluding non-recurring gains and losses for 2024 was CNY 157,773,860, showing a slight increase from CNY 151,737,848 in 2023[24]. - The total assets at the end of 2024 reached CNY 8,236,109,815, reflecting a growth of 1.95% from CNY 8,078,777,399 at the end of 2023[24]. - The net assets attributable to shareholders increased by 10.59% to CNY 2,628,077,289 at the end of 2024, compared to CNY 2,376,387,832 at the end of 2023[24]. - The company reported a basic earnings per share of CNY 0.1136 for 2024, an increase of 8.92% from CNY 0.1043 in 2023[24]. - The cash flow from operating activities for 2024 was CNY 714,057,430, a decrease of 0.89% from CNY 720,476,056 in 2023[24]. - The company will not distribute cash dividends or issue bonus shares for the fiscal year 2024, focusing instead on reinvestment for growth[10]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share within the next two years[19]. - The company has set a revenue guidance for 2025, projecting an increase of 10% to reach between RMB 1.32 billion and RMB 1.32 billion[19]. - The company is actively pursuing strategic acquisitions to enhance its service offerings, with a target of completing two acquisitions by the end of 2025[19]. - The company aims to enhance its global competitiveness, targeting an export revenue of ¥65 billion through international projects[38]. - The company is focusing on technological innovation, including IoT and AI applications, to drive the high-end and intelligent upgrade of the pump industry[38]. - The company plans to optimize its business layout in environmental governance to improve profitability and asset quality[41]. Research and Development - The company has allocated RMB 200 million for research and development in 2025, focusing on innovative environmental technologies[19]. - The company invested approximately 4.86% of its annual revenue in research and development, resulting in 135 new intellectual property rights, including 11 invention patents[52]. - The company completed 68 R&D projects and 58 process improvement projects in 2024, introducing several new products to fill gaps in its product line[52]. - The company has completed the development of 5 models of high-power diesel engines with UL and FM certification, enhancing product competitiveness[73]. - The company is developing a new series of industrial valve detection technologies, which will output intellectual property results[75]. Environmental and Sustainability Initiatives - The environmental governance sector is expected to see growth opportunities due to national policies promoting water infrastructure investment[40]. - The company has implemented various environmental protection regulations and standards, including the Air Pollution Prevention Law[192]. - The company reported a total discharge of 0.09 tons of chemical oxygen demand, meeting the pollution discharge standards[193]. - The company maintains a pH discharge standard of 6-9, compliant with GB31573-2015[193]. - The company has a hazardous waste operation permit valid from April 29, 2024, to April 28, 2029[193]. Corporate Governance - The company has established a governance structure that includes a shareholders' meeting, board of directors, and supervisory board, functioning independently from the controlling shareholder[134]. - The board of directors consists of 9 members, including 3 independent directors, and held 7 meetings in 2024, adhering to all regulatory procedures[125]. - The company maintains a transparent information disclosure system, utilizing platforms like "Securities Times" and "Giant Tide Information Network" for fair access to information[128]. - The company has a performance evaluation and incentive mechanism in place, ensuring transparency in the election of directors and appointment of senior management[128]. - The company has established comprehensive internal control systems for its hedging operations[100]. Human Resources and Management - The total pre-tax remuneration for the company's directors, supervisors, and senior management is 607.33 million CNY[161]. - The company has implemented a market-oriented salary policy, linking employee compensation to performance and company development[173]. - The company plans to enhance its employee training programs focusing on professional skills and compliance awareness starting in 2025[174]. - The company has established a talent pool management project to build a talent pipeline for future development[174]. - The company has reduced its R&D personnel by 28.17% from 820 in 2023 to 589 in 2024, with a corresponding decrease in the proportion of R&D personnel from 13.10% to 9.60%[80]. Financial Management and Investment - The net cash flow from investment activities decreased by 20,227.42% year-on-year, primarily due to a reduction in cash received from the disposal of long-term assets and an increase in cash paid for the acquisition of long-term assets[81]. - The company's cash and cash equivalents increased by 156,425,931.70 yuan, a significant increase of 690.85% compared to the previous year[84]. - The company reported a credit impairment loss of -193,131,341.22 yuan, which accounted for -60.31% of total profit[85]. - The company confirmed that there were no speculative derivative investments during the reporting period[101]. - The company has not engaged in any securities investments during the reporting period[97]. Product Development and Innovation - The company is currently working on a new electric grease pump, which is compact and has superior performance, aimed at expanding market share[75]. - The company has completed the development of a new type of intelligent fire pump, obtaining 3C certification, to enter the high-end fire water supply equipment market[73]. - The company is developing a new series of self-priming pumps, increasing product range and market share[75]. - The company has successfully developed a new series of compact and aesthetically pleasing lightweight horizontal multistage pumps, addressing market needs and increasing competitiveness[74]. - The company is enhancing the production process for customized irregular castings to meet diverse customer needs, improving market competitiveness[74].

Financial Performance - The company's operating revenue for Q1 2025 was ¥1,054,453,159, representing a 2.02% increase compared to ¥1,033,588,176 in the same period last year[2] - Net profit attributable to shareholders decreased by 25.25% to ¥66,737,762 from ¥89,282,180 in the previous year[2] - The net profit after deducting non-recurring gains and losses increased by 11.25% to ¥63,321,315 from ¥56,917,952 in the same period last year[2] - Net profit for the current period was ¥75,417,019, down from ¥94,045,926 in the previous period, indicating a decline of approximately 19.7%[26] - The net profit attributable to the parent company was ¥66,737,761.64, compared to ¥89,282,180.28 in the previous period, a decrease of about 25.3%[27] - Basic and diluted earnings per share decreased to ¥0.0347 from ¥0.0465 in the previous period, a decline of approximately 25.8%[27] Cash Flow - The net cash flow from operating activities was negative at -¥96,565,753, a decline of 26.48% compared to -¥76,348,249 in the previous year[2] - The net cash inflow from operating activities was -96,565,752.85, compared to -76,348,248.92 in the previous period, indicating a decline in operational cash flow[30] - The total cash outflow from operating activities was 1,050,898,995.59, compared to 1,128,132,556.71 previously, indicating a reduction in cash outflows[30] - Cash received from sales of goods and services was ¥896,608,635.62, down from ¥999,586,443.70 in the previous period[29] - The company reported a cash inflow of 67,953,209.57 from the recovery of investments, with no prior period comparison available[30] Assets and Liabilities - Total assets at the end of Q1 2025 were ¥8,046,091,140, down 2.31% from ¥8,236,109,815 at the end of the previous year[2] - The company's current assets totaled 5.209 billion yuan, down from 5.402 billion yuan at the beginning of the period[22] - Total liabilities decreased to ¥5,134,948,551.32 from ¥5,406,128,655.83, a reduction of approximately 5%[24] - Total equity increased to ¥2,911,142,588.20 from ¥2,829,981,159.44, reflecting a growth of about 2.9%[24] Shareholder Information - Total number of common shareholders at the end of the reporting period is 49,748[10] - The largest shareholder, Wuxi Municipal Public Utility Industry Group Co., Ltd., holds 21.59% of shares, totaling 414,639,391 shares[10] - The second-largest shareholder, Shen Jinhao, holds 7.88% of shares, totaling 151,368,931 shares, with 41,550,000 shares pledged[10] - The top 10 shareholders collectively hold a significant portion of the company's equity, with Shen Jinhao and Shen Jieyong combined holding 10.01%[11] - The total number of shares held by the top 10 unrestricted shareholders is 690,000,000 shares[11] Stock and Incentive Plans - The company has a total of 17,214,935 shares under lock-up agreements, with 308,000 shares released during the reporting period[14] - The company plans to repurchase and cancel 260,000 shares of restricted stock due to the departure of three incentive plan participants[15] - The company has implemented a stock incentive plan that includes a gradual release of locked shares based on specific conditions[14] Government and Project Updates - The company received the first payment of 5 million yuan from the government as part of the repurchase agreement for the terminated PPP project[18] - As of now, the Dali Economic and Technological Development Zone Management Committee has paid 27.6488 million yuan, with a remaining unpaid amount of 28.1442 million yuan[20] - The company is actively pursuing the remaining payment from the government to protect the interests of the company and its investors[20] - The company has signed a supplementary agreement regarding the termination and repurchase of the PPP project due to financial constraints faced by the local government[19] Management and Governance - The company completed the election of the sixth board of directors and supervisory board, along with the appointment of senior management personnel on January 17, 2025[16] Research and Development - Research and development expenses rose to ¥50,182,225.24 from ¥48,026,582.36, an increase of approximately 4.5%[26] Financial Expenses - The company reported a significant decrease in financial expenses, down 148.16% to -¥2,457,514 due to reduced interest-bearing liabilities[8] - The company reported a financial expense of -¥2,457,514.01, a significant improvement compared to a financial expense of ¥5,102,439.80 in the previous period[26]

Financial Performance - The company's operating revenue for Q1 2025 was ¥594,666,085.42, representing a 12.48% increase compared to ¥528,708,548.11 in the same period last year[4] - The net profit attributable to shareholders was ¥11,167,600.26, a significant recovery from a loss of ¥5,975,250.95 in the previous year[4] - The basic earnings per share increased to ¥0.06 from a loss of ¥0.03 in the previous year[4] - The weighted average return on equity rose by 1.59 percentage points to 1.03% from -0.56%[4] - Total operating revenue for Q1 2025 reached ¥594,666,085.42, an increase of 12.5% compared to ¥528,708,548.11 in Q1 2024[18] - Net profit for Q1 2025 was ¥11,167,600.26, a significant recovery from a net loss of ¥5,975,250.95 in Q1 2024[19] - The total comprehensive income for Q1 2025 was ¥11,167,600.26, recovering from a loss of -¥5,975,250.95 in Q1 2024[19] Cash Flow - The net cash flow from operating activities was -¥45,380,829.29, a decrease of 276.99% compared to ¥25,640,069.07 in the same period last year[4] - Cash flow from operating activities for Q1 2025 was negative at -¥45,380,829.29, contrasting with a positive cash flow of ¥25,640,069.07 in Q1 2024[21] - Net cash flow from investing activities was -$27,937,230.76, a decrease from -$52,073,728.72 year-over-year[22] - Cash inflow from financing activities totaled $407,215,375.80, compared to $434,081,944.45 in the previous period[22] - Net cash flow from financing activities was $21,438,062.29, a significant improvement from -$23,221,200.11 year-over-year[22] - Cash and cash equivalents at the end of the period amounted to $256,861,736.85, down from $258,906,023.27[22] - Total cash and cash equivalents decreased by $50,020,612.48, compared to a decrease of $48,611,196.41 in the previous period[22] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,204,034,000, reflecting a 1.23% increase from ¥2,177,193,848 at the end of the previous year[5] - The company's current assets totaled RMB 955,264,520.96, up from RMB 919,091,910.18, indicating an increase of about 3.93%[14] - Total liabilities stood at RMB 1,114,997,850.35, compared to RMB 1,099,325,297.83, marking an increase of approximately 1.4%[15] - The company's current liabilities totaled RMB 1,044,296,533.77, up from RMB 1,029,228,514.02, reflecting an increase of about 1.46%[15] - The non-current assets decreased slightly to RMB 1,248,769,479.91 from RMB 1,258,101,937.91, a decline of approximately 0.4%[14] - The company's equity remained stable at RMB 1,089,036,150.52, consistent with the previous period[15] Sales and Expenses - The company experienced a 35% year-on-year increase in export sales volume, contributing to the growth in revenue and net profit[8] - The cost of raising chickens decreased by 9% year-on-year due to lower feed and chick prices, positively impacting profitability[8] - The company reported a foreign exchange gain due to the appreciation of the US dollar against the Chinese yuan, further enhancing net profit[8] - Total operating costs for Q1 2025 were ¥576,282,565.37, up from ¥529,599,075.16 in Q1 2024, reflecting a rise of 8.8%[18] - Research and development expenses increased to ¥3,346,446.63 in Q1 2025, up from ¥2,039,839.11 in Q1 2024, indicating a focus on innovation[18] - The company’s sales expenses rose to ¥17,360,532.48 in Q1 2025, compared to ¥13,199,599.13 in Q1 2024, reflecting increased marketing efforts[18] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 15,865[10] - The company reported no significant changes in the shareholder structure or participation in margin trading activities during the reporting period[12] Accounting Standards - The company plans to implement new accounting standards starting in 2025[22]

Financial Performance - The company's operating revenue for Q1 2025 was ¥1,267,762,905.47, a decrease of 8.68% compared to ¥1,388,280,493.01 in the same period last year[4] - Net profit attributable to shareholders was ¥161,516,522.43, down 28.80% from ¥226,846,968.38 year-on-year[4] - The net profit after deducting non-recurring gains and losses decreased by 32.24%, amounting to ¥145,338,647.03 compared to ¥214,496,990.94 in the previous year[4] - Basic earnings per share were ¥0.2066, down 29.87% from ¥0.2946 year-on-year[5] - Net profit for Q1 2025 was ¥164,844,408.12, a decline of 28.0% from ¥228,852,997.65 in Q1 2024[19] - Earnings per share for Q1 2025 was ¥0.2066, compared to ¥0.2946 in Q1 2024, reflecting a decrease of 29.9%[19] Cash Flow - The net cash flow from operating activities was ¥50,361,348.98, reflecting a significant decline of 88.37% from ¥432,997,978.92 in the same period last year[4] - Cash flow from operating activities for Q1 2025 was ¥50,361,348.98, significantly lower than ¥432,997,978.92 in Q1 2024[21] - The company reported a cash outflow from operating activities totaling ¥1,184,631,813.17 in Q1 2025, compared to ¥1,192,546,403.10 in Q1 2024, indicating a slight decrease[21] - Net cash flow from investment activities was -129,526,245.31, compared to 251,772,750.07 in the previous period[22] - Cash inflow from financing activities totaled 957,260,650.06, an increase from 455,581,774.65 in the prior period[22] - Net cash flow from financing activities was 525,967,613.19, up from 244,708,377.67 year-over-year[22] - The ending balance of cash and cash equivalents was 2,997,391,469.18, compared to 3,967,793,441.53 at the end of the previous period[22] - Cash and cash equivalents increased by 446,816,923.12 during the period[22] Assets and Liabilities - Total assets at the end of the reporting period increased by 7.72% to ¥10,574,731,127.33 from ¥9,816,683,641.17 at the end of the previous year[5] - The total liabilities increased to ¥3,936,815,110.93 in Q1 2025 from ¥3,359,859,580.78 in Q1 2024, indicating a growth of 17.1%[18] - Total equity attributable to shareholders increased to ¥6,231,137,047.66 in Q1 2025 from ¥6,053,372,977.34 in Q1 2024, reflecting a growth of 2.9%[18] - Short-term borrowings surged to CNY 635,091,166.67 from CNY 265,410,763.89, representing an increase of about 139%[14] - Accounts payable increased to CNY 945,068,540.11 from CNY 898,706,774.46, which is an increase of approximately 5%[14] - The company reported a significant increase in other payables, rising to CNY 362,356,561.21 from CNY 300,420,542.36, marking a growth of around 21%[14] Sales and Revenue - The decrease in net profit was primarily due to a decline in sales prices of major products and reduced operating profits compared to the same period last year[7] - The company reported a decrease in sales revenue from customers, with cash received from sales at ¥1,121,526,934.37, down 25.8% from ¥1,509,076,716.88 in Q1 2024[21] Research and Development - Research and development expenses for Q1 2025 were ¥36,108,586.08, slightly down from ¥37,572,421.75 in Q1 2024[18] - The company has no significant new product launches or technological developments reported in the current period[11] Other Financial Metrics - The weighted average return on equity decreased by 1.38 percentage points to 2.6296% from 4.0105% year-on-year[5] - Non-recurring gains and losses amounted to ¥16,177,875.40 after tax, with significant contributions from government subsidies totaling ¥19,073,754.02[6] - Total operating costs for Q1 2025 were ¥1,095,037,146.83, down 2.9% from ¥1,127,218,169.81 in Q1 2024[18] - Cash and cash equivalents rose to CNY 3,073,021,130.51, up from CNY 2,606,087,688.82, representing an increase of about 18%[13] - Accounts receivable increased significantly to CNY 365,015,311.01 from CNY 216,990,671.35, marking a growth of approximately 68%[13] - Inventory levels slightly increased to CNY 458,762,970.67 from CNY 451,764,408.07, showing a growth of about 2%[13] - Total non-current assets reached CNY 5,924,930,843.57, up from CNY 5,809,455,599.77, indicating an increase of around 2%[14] - The total assets of the company amounted to CNY 10,574,731,127.33, compared to CNY 9,816,683,641.17, reflecting an overall growth of approximately 8%[14]

R&D Investment and Innovation - R&D investment has increased from 13 million in 2017 to over 440 million, with a cumulative investment exceeding 1.5 billion over the past five years[7]. - The company has accumulated 845 patents since 2005, including 350 invention patents, and is actively seeking overseas patent protection[12]. - The company's R&D investment surged from 0.13 billion CNY in 2017 to 4.42 billion CNY in 2024, with cumulative R&D expenditures exceeding 1.5 billion CNY over the past five years[52]. - The company has applied for a total of 845 patents, with 577 granted, emphasizing its commitment to innovation and quality management[61]. - The company is committed to enhancing its innovation capabilities and has been recognized as a high-tech enterprise, with nine subsidiaries also receiving similar recognition[61]. Market Position and Performance - The company has achieved a market share of 48.8% in the domestic 12-inch wafer gas equipment market, significantly surpassing foreign competitors[8]. - The company holds a market share of 48.8% in high-purity specialty gas systems and over 30% in chemical equipment and systems for 12-inch wafer fabs in mainland China from 2016 to 2024[76]. - The company's operating revenue for 2024 reached ¥3,604,680,268.78, representing a 14.40% increase compared to ¥3,151,026,067.05 in 2023[41]. - The company has established a strong position in the domestic high-purity process system support equipment market, with a focus on improving process yield through essential support equipment[78]. - The company has successfully built a localized supply chain since 2021, ensuring business continuity and stability amid external challenges[57]. Financial Performance - The net profit attributable to shareholders for 2024 was ¥23,597,485.84, a significant decrease of 93.75% from ¥377,277,343.39 in 2023[41]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥57,406,956.30, marking a decline of 156.25% compared to ¥102,061,627.39 in 2023[41]. - The total assets increased by 13.88% to ¥13,574,302,675.76 at the end of 2024, up from ¥11,919,485,610.81 at the end of 2023[41]. - The company's basic earnings per share decreased by 94.15% to 0.062 CNY compared to the previous year[42]. - The gross margin for the semiconductor segment was 32.02%, with a year-on-year increase in operating revenue of 20.81%[98]. Strategic Goals and Future Plans - The company plans to continue its LAB2FAB® strategy, focusing on core processes and key manufacturing services[14]. - The company aims to enhance its technology level and adapt flexibly to market changes, with a focus on achieving more proud results in high-end equipment by 2025[16]. - The company expects annual new orders in the range of 5.5 to 6 billion yuan for 2025, with process equipment orders between 1.5 to 2 billion yuan[130]. - The core operational goals for 2025 include strengthening the depth and breadth of process equipment business coverage and accelerating the layout of electronic materials and core components[130]. - The company plans to enhance cash recovery capabilities and optimize resource allocation to improve profitability[130]. Supply Chain and Localization - The company has implemented a localization strategy, achieving 90% self-sufficiency in its equipment supply chain[8]. - The company has established two fully domestic 12-inch wafer gas supply systems, contributing stable cash flow for at least 15 years[8]. - The company has accelerated its layout in the electronic materials sector, successfully establishing the first fully domestically produced 12-inch wafer gas supply factory, achieving operational stability and breaking the international supplier monopoly[56]. - The company has built a production and service base of 420,000 square meters, with an additional 48,700 square meters under construction, supporting its medium to long-term strategic goals[58]. - The company has developed a modular and digital solution for high-purity systems, enhancing its competitive edge in the high-purity field[77]. Corporate Governance and Management - The company has established a governance structure that includes a board of directors and various committees to ensure effective oversight and compliance[139]. - The company has a structured remuneration management system for its directors and senior management[149]. - The company continues to expand its leadership team with new appointments to enhance governance and oversight[150]. - The company held multiple board meetings in 2024, including the election of the fifth board of directors and the appointment of senior management[152]. - The company has established a profit distribution system to ensure the fulfillment of commitments made by its directors and senior management[193]. Environmental and Social Responsibility - The company has established environmental protection management systems and has passed ISO14001 certification, ensuring compliance with environmental regulations[184]. - The company has taken measures to reduce carbon emissions, successfully decreasing carbon dioxide equivalent emissions by 2,691.9 tons through the use of self-generated photovoltaic power[185]. - The company has disclosed its corporate social responsibility report, which is available on the Shanghai Stock Exchange website[186]. - Total donations amounted to 160,700 CNY, with 100,000 CNY donated to the Song Qingling Foundation for the "Xin Gan Bao Bei Liver Transplant Project"[187]. - Material donations totaled 30,700 CNY, including 15,100 CNY for the "Chasing Light Cabin" project for underprivileged families and 15,600 CNY for a nursing home in Minhang District, Shanghai[187].

Financial Performance - The company's operating revenue for 2024 was CNY 3,907,553,145.61, a decrease of 11.16% compared to CNY 4,398,440,072.42 in 2023[23]. - The net profit attributable to shareholders for 2024 was CNY 181,372,732.58, down 61.67% from CNY 473,202,442.19 in 2023[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 163,198,596.07, a decline of 66.87% compared to CNY 492,632,801.10 in 2023[23]. - Cash flow from operating activities for 2024 was CNY 285,551,955.88, a significant drop of 70.11% from CNY 955,352,084.08 in 2023[23]. - Basic earnings per share for 2024 were 0.53 RMB, a decline of 61.87% from 1.39 RMB in 2023[24]. - The weighted average return on equity for 2024 was 5.30%, down from 14.49% in 2023, representing a decrease of 9.19 percentage points[24]. Audit and Compliance - The financial report has been audited by Zhongxinghua Accounting Firm, which issued a standard unqualified opinion[5]. - The board of directors and supervisory board members confirmed the authenticity, accuracy, and completeness of the annual report[3]. - The company has committed to ensuring the financial report's authenticity and accuracy through its responsible personnel[5]. - The internal control audit was conducted by Zhongxinghua Accounting Firm, resulting in a standard unqualified opinion report[199]. - The company has effectively implemented internal controls over its subsidiaries, with no significant deficiencies reported[198]. Risk Management - The company reported no significant risks affecting its production and operations during the reporting period[10]. - The company has outlined various risks and countermeasures in the management discussion section of the report[10]. - The company has not violated decision-making procedures for external guarantees[8]. - There were no non-operating fund occupations by controlling shareholders or related parties[8]. Market and Product Development - The company is actively expanding its international market presence and enhancing cooperation with multinational companies[31]. - New product developments include the trial production of several pesticide active ingredients, with projects entering trial production in 2024[32]. - The company has introduced several new pesticide products, including the insecticides Thiamethoxam and Acetamiprid, which are expected to enhance market competitiveness and drive revenue growth[38]. - The company’s main active ingredient products include insecticides and fungicides, with a focus on diversifying and enriching its pesticide offerings[38]. - The market for biopesticides, such as Abamectin, is expected to grow significantly, reflecting a broader trend towards environmentally friendly agricultural practices[43]. Strategic Initiatives - The company is focusing on cost reduction and efficiency improvement to enhance market competitiveness[31]. - The company plans to continue its dual-driven strategy of integrating active ingredients and formulations while expanding both domestic and international markets[64]. - The company is committed to reducing the use of chemical pesticides, targeting a coverage rate of 45% for integrated pest management in major grain crops by 2025[131]. - The company aims to achieve sales growth and cost control by 2025, while accelerating qualification construction in pesticide registration and GLP testing[143]. Governance and Management - The governance structure is continuously improved to ensure compliance with laws and protect shareholder rights, with independent oversight from the board and supervisory committee[155]. - The company maintains independence from its controlling shareholders, ensuring no interference in its operations and adherence to legal obligations[156]. - The company emphasizes transparency in information disclosure, ensuring all shareholders have equal access to relevant information[158]. - The company has established a talent training program focusing on new employees and ongoing professional development for existing staff[182]. Shareholder Returns - The profit distribution plan for 2024 proposes a cash dividend of 5 RMB per 10 shares (including tax), subject to shareholder approval[6]. - The company plans to distribute a cash dividend of 5 RMB (including tax) for every 10 shares, with a total cash dividend amounting to 169,949,168 RMB, which represents 93.7% of the net profit attributable to ordinary shareholders in the consolidated financial statements[187][191]. - Over the last three accounting years, the cumulative cash dividend amount (including tax) reached 680,182,662 RMB, with an average annual net profit of 371,528,355.75 RMB, resulting in a cash dividend ratio of 183.08%[192]. Research and Development - The company has synthesized over 6,888 new compounds and achieved three lead compounds during the reporting period[102]. - The company has submitted 104 invention patent applications and achieved 58 new patent certifications during the reporting period[102]. - The company is committed to increasing R&D investment to develop high-efficiency, low-toxicity, and environmentally friendly pesticide formulations to achieve product differentiation[149]. Financial Management - The company has approved a comprehensive credit limit application for 2024, including corresponding guarantee limits[161]. - The company has approved the use of idle funds for purchasing financial products, enhancing financial management strategies[174]. - The total remuneration for directors and senior management during the reporting period amounted to 7.03 million yuan[163].

Financial Performance - The company's operating revenue for Q1 2025 was ¥727,679,340.12, a decrease of 10.32% compared to ¥811,384,104.30 in the same period last year[4] - Net profit attributable to shareholders was ¥19,016,075.94, down 70.09% from ¥63,585,432.40 year-on-year[4] - The net profit after deducting non-recurring gains and losses was ¥10,247,586.70, reflecting an 83.64% decline from ¥62,646,791.52 in the previous year[4] - Basic and diluted earnings per share were both ¥0.027, representing a decrease of 83.73% compared to ¥0.166 in the same period last year[4] - Operating profit for Q1 2025 was ¥18,774,374.02, down 73.5% from ¥70,836,838.88 in Q1 2024[18] - Net profit for Q1 2025 was ¥888,392.08, a significant decline from ¥47,603,407.78 in Q1 2024, representing a decrease of 98.1%[19] - Total operating costs for Q1 2025 were ¥739,472,989.30, a slight decrease of 1.9% from ¥753,584,462.38 in Q1 2024[18] - Basic earnings per share for Q1 2025 were ¥0.027, down from ¥0.166 in Q1 2024[19] Cash Flow and Investments - The net cash flow from operating activities was -¥62,066,065.08, an improvement from -¥261,824,475.24 in the previous year[4] - Cash flow from operating activities for Q1 2025 was negative at -¥62,066,065.08, an improvement from -¥261,824,475.24 in Q1 2024[22] - Investment activities generated a net cash outflow of -¥82,482,321.16 in Q1 2025, compared to -¥156,934,780.24 in Q1 2024[23] - Financing activities generated a net cash inflow of ¥143,303,160.74 in Q1 2025, down from ¥216,779,267.75 in Q1 2024[23] - The company reported a significant increase of 615.36% in investment income due to receiving dividends from invested enterprises[7] Assets and Liabilities - The total assets at the end of the reporting period were ¥13,786,260,448.21, an increase of 1.56% from ¥13,574,302,675.76 at the end of the previous year[5] - The company's current assets totaled CNY 8,147,039,455.55, up from CNY 7,987,763,488.63, indicating an increase of about 1.99%[13] - Cash and cash equivalents stood at CNY 874,031,620.62, slightly up from CNY 870,474,310.42, showing a growth of approximately 0.18%[13] - Accounts receivable decreased to CNY 2,762,746,848.38 from CNY 2,834,240,451.41, representing a decline of about 2.52%[13] - Inventory increased to CNY 3,251,582,288.16 from CNY 3,118,056,613.38, marking a rise of approximately 4.27%[13] - Total liabilities reached CNY 8,906,156,286.04, compared to CNY 8,647,366,133.49, reflecting an increase of about 2.99%[15] - The company's equity attributable to shareholders was CNY 4,802,603,710.90, a slight decrease from CNY 4,830,981,596.73, indicating a decline of approximately 0.58%[15] - Short-term borrowings rose to CNY 3,313,791,149.37 from CNY 3,073,089,945.80, which is an increase of about 7.81%[15] - The company reported a total of CNY 1,249,982,320.40 in undistributed profits, up from CNY 1,230,966,244.46, reflecting an increase of approximately 1.99%[15] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 117,335[9] - The largest shareholder, Jiang Yuan, holds 22.55% of the shares, with 38,260,000 shares pledged[9] - The company has not reported any significant changes in shareholder structure or related party transactions during the reporting period[10][11] Research and Development - Research and development expenses increased to ¥52,179,672.27 in Q1 2025, up 11.0% from ¥46,737,783.36 in Q1 2024[18]

Financial Performance - The company's operating revenue for 2024 was CNY 5,343,995,157.72, a decrease of 5.95% compared to CNY 5,682,360,911.61 in 2023[22] - The net profit attributable to shareholders for 2024 was CNY 769,019,491.33, representing an increase of 4.15% from CNY 738,393,009.30 in 2023[22] - The cash flow from operating activities for 2024 was CNY 1,282,641,832.03, a slight decrease of 1.10% compared to CNY 1,296,867,377.04 in 2023[22] - The total assets at the end of 2024 were CNY 9,816,683,641.17, down 2.87% from CNY 10,106,389,189.76 at the end of 2023[22] - The net assets attributable to shareholders increased by 9.09% to CNY 6,053,372,977.34 at the end of 2024, compared to CNY 5,548,877,629.06 at the end of 2023[22] - The basic earnings per share for 2024 were CNY 0.9834, an increase of 3.13% from CNY 0.9536 in 2023[23] - The weighted average return on net assets for 2024 was 13.26%, a decrease of 0.73 percentage points from 13.99% in 2023[23] - The company achieved operating revenue of 5.344 billion RMB, a year-on-year decrease of 5.95%, and net profit attributable to shareholders of 769 million RMB, an increase of 4.15%[31] - The company's total equity attributable to the parent company increased by 5.04% to 6.053 billion RMB, with basic earnings per share at 0.9834 RMB[31] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 4.43 per 10 shares, totaling CNY 346,394,488.97, which accounts for 45.04% of the net profit attributable to shareholders[5] - The company distributed a cash dividend of 0.425 RMB per share, totaling 332,336,769.33 RMB, which represents 45.01% of the net profit attributable to shareholders in the consolidated financial statements for the year 2023[143] - The cumulative cash dividend amount over the last three accounting years is 960,326,451.14 RMB, with an average annual net profit of 770,445,162.16 RMB, resulting in a cash dividend ratio of 124.65%[148] Research and Development - Research and development investment reached 239 million RMB, a year-on-year increase of 17.90%, with 42 patent applications filed, setting a historical high[33] - Research and development expenses increased by 17.90% to CNY 239 million, reflecting the company's commitment to technological innovation[46] - The total R&D investment for the period is ¥23,903.45 million, representing 4.47% of operating revenue[57] - The company has established seven provincial-level or above R&D platforms, positioning itself as a leader in technological innovation within the industry[42] - The company has 372 R&D personnel, which constitutes 10% of the total workforce[59] Market and Sales Performance - In 2024, the company produced 8.6513 million tons of salt chemical products, a year-on-year increase of 1.25%, while sales decreased by 0.30% to 8.8225 million tons[31] - The international market export volume increased by 18.52%, and export value grew by 10.38% year-on-year[32] - The sales volume of salt products was 7.74 million tons, a slight decrease of 0.06% compared to the previous year[51] - The company maintained a high-quality marketing strategy, focusing on high-quality orders despite a decline in product prices[50] - The company's online sales revenue increased to 2,718.84 million RMB, with a gross margin of 37.81%[75] Operational Efficiency and Cost Management - The operating cost was CNY 3.44 billion, down 8.27% year-on-year, primarily due to a decrease in the prices of raw materials such as coal[46] - The gross profit margin for salt and chemical products was 35.51%, a decrease of 7.40% year-on-year[49] - The company has implemented a comprehensive budget management system to effectively control costs and stabilize operational efficiency[50] - The total cost of raw materials for the current period is ¥2,137,002,264.42, accounting for 62.76% of total costs, a decrease of 5.50% compared to the previous year[53] - The direct material costs for the chemical product segment decreased by 6.45% compared to the previous year[53] Strategic Initiatives and Future Outlook - The company is focusing on the development of technologies for energy storage and comprehensive utilization of salt caverns, enhancing its market competitiveness[60] - The company is advancing a 600 MW salt cavern compressed air energy storage project in collaboration with Guoxin Group[32] - The company is exploring potential acquisitions to enhance its product portfolio and market presence[119] - The company plans to implement new marketing strategies aimed at increasing brand awareness by 40% in the next year[118] - Future outlook includes a projected revenue growth of 10% for 2024, driven by new product launches and market expansion strategies[119] Environmental and Sustainability Efforts - The company has received the first carbon footprint label in the national salt industry for its industrial salt products, highlighting its commitment to sustainability[34] - The company invested approximately 3.1127 million yuan in environmental protection during the reporting period, focusing on desulfurization, denitrification agents, and dust removal systems[159] - The company has established an environmental management system in accordance with ISO 14001 standards, ensuring stable management practices[157] - The actual emissions for 2024 were reported as 4.01 tons of smoke dust, 10.92 tons of SO2, and 37.89 tons of NOX, all within the approved limits[159] - The company has implemented carbon reduction measures, achieving a reduction of 1,100 tons of CO2 equivalent emissions[171] Governance and Compliance - The company held 5 shareholder meetings during the reporting period, ensuring equal voting rights for all shareholders, especially minority shareholders[99] - The board of directors convened 7 meetings and reviewed 51 proposals, adhering to legal requirements and ensuring diligent decision-making[101] - The company has established an independent financial accounting system and management structure, ensuring financial independence from the controlling shareholder[109] - The company has a complete and independent human resources management system, ensuring that all employees are under labor contracts with the company[108] - The company has a robust financial management structure, with experienced professionals overseeing financial operations[120] Legal and Litigation Matters - The company faced significant litigation issues during the reporting period, with a total amount involved in disputes reaching approximately 2,185.17 million RMB[191] - The company is currently involved in ongoing litigation with China Nuclear Industry Second Construction Co., Ltd., with a claim amount of 771.78 million RMB pending resolution[191] - The company has successfully recovered part of the debt from Jiangsu Province Salt Industry Group, with ongoing enforcement actions for the remaining amounts[191] - The company reported a substantial increase in related party transactions, with procurement from Jiangsu Province Quality Safety Inspection Co., Ltd. amounting to 10,473,359.15 RMB, up from 4,267,169.82 RMB in the previous year, representing a growth of over 145%[193]

Financial Performance - The company's operating revenue for Q1 2025 was ¥124,955,396.95, representing a 4.13% increase compared to ¥119,997,881.69 in the same period last year[3] - The net profit attributable to shareholders was -¥151,280,445.14, a significant decline from -¥74,808,468.70 year-on-year[3] - Total operating revenue for Q1 2025 was CNY 124,955,396.95, an increase of 4.0% compared to CNY 119,997,881.69 in Q1 2024[16] - Net loss for Q1 2025 was CNY -151,280,445.14, compared to a net loss of CNY -74,808,468.70 in Q1 2024, representing a deterioration of 102.0%[17] - Basic and diluted earnings per share for Q1 2025 were both CNY -0.38, compared to CNY -0.19 in Q1 2024[17] Research and Development - Research and development (R&D) expenses totaled ¥134,952,519.79, marking a 35.22% increase from ¥99,803,642.73 in the previous year[3] - The ratio of R&D expenses to operating revenue increased by 24.83 percentage points to 108.00%[4] - R&D expenses in Q1 2025 reached CNY 122,346,703.13, a significant increase of 44.6% compared to CNY 84,575,382.20 in Q1 2024[16] - The company reported development expenditures of CNY 130,817,379.03, an increase from CNY 118,211,562.37, indicating a growth of approximately 11%[12] - The company continues to focus on R&D and market expansion strategies despite the financial losses reported[16] Cash Flow and Liquidity - The net cash flow from operating activities was -¥143,594,192.40, a substantial decrease from -¥8,728,297.90 in the previous year[3] - In Q1 2025, the cash inflow from operating activities was $127,233,539.39, a decrease of 46.8% compared to $239,153,280.38 in Q1 2024[19] - The net cash flow from operating activities in Q1 2025 was -$143,594,192.40, worsening from -$8,728,297.90 in Q1 2024[19] - The cash outflow from financing activities in Q1 2025 was $1,045,030.59, compared to $99,733,198.82 in Q1 2024, indicating a reduction in financing outflows[20] - The ending balance of cash and cash equivalents as of Q1 2025 was $298,335,490.02, down from $494,824,167.21 in Q1 2024[20] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,307,606,193.04, down 5.43% from ¥3,497,483,392.20 at the end of the previous year[4] - Total liabilities decreased to CNY 516,521,637.74 from CNY 561,086,316.99, a reduction of 7.9%[14] - The equity attributable to shareholders decreased by 4.95% to ¥2,791,084,555.30 from ¥2,936,397,075.21[4] - Total equity attributable to shareholders decreased to CNY 2,791,084,555.30 from CNY 2,936,397,075.21, a decline of 4.9%[14] Shareholder Information - The total number of common shareholders at the end of the reporting period was 18,322[8] - The company has no significant changes in the top 10 shareholders or their participation in margin trading[10] Operational Status - The company has not disclosed any new strategies or market expansions during the reporting period[11] - There are no significant reminders or additional important information regarding the company's operational status during the reporting period[11] - The company did not report any new product developments or market expansions during the conference call[21] Sales and Costs - Total operating costs for Q1 2025 were CNY 245,292,507.98, up 17.0% from CNY 209,571,643.10 in Q1 2024[16] - The company reported a significant decrease in cash received from sales of goods and services, totaling $104,053,571.87 in Q1 2025, compared to $140,020,130.89 in Q1 2024, a decline of 25.7%[19] - The cash paid for goods and services in Q1 2025 was $123,261,994.63, an increase from $93,026,108.47 in Q1 2024, reflecting a rise of 32.5%[19]

Financial Performance - The company's operating revenue for Q1 2025 was ¥2,294,216,877.71, a decrease of 0.85% compared to ¥2,313,981,509.90 in Q1 2024[3] - Net profit attributable to shareholders decreased by 35.85% to ¥33,525,576.37 from ¥52,259,604.68 in the same period last year[3] - Basic earnings per share fell by 35.29% to ¥0.22 from ¥0.34 in Q1 2024[4] - The net profit for Q1 2025 was CNY 33,544,104.45, a decrease of CNY 18,340,831.00 or 35.35% compared to Q1 2024[11] - The total profit for Q1 2025 was CNY 39,858,247.10, down by CNY 20,636,065.49 or 34.11% from the previous year[10] - Operating profit decreased to CNY 39,700,306.59, reflecting a decline of CNY 20,290,732.76 or 33.82% year-over-year[10] - Total operating revenue for Q1 2025 was approximately ¥2.29 billion, a slight decrease of 0.8% compared to ¥2.31 billion in Q1 2024[44] - Net profit for Q1 2025 was approximately ¥33.54 million, down 35.3% from ¥51.88 million in Q1 2024[45] - Operating profit for Q1 2025 was approximately ¥39.70 million, a decrease of 33.9% compared to ¥59.99 million in Q1 2024[45] Cash Flow and Assets - The net cash flow from operating activities increased by 78.17% to ¥180,297,093.28 compared to ¥101,194,323.06 in Q1 2024[3] - The cash flow from operating activities increased by CNY 79,102,770.22, representing a growth of 78.17% compared to the same period last year[11] - Cash and cash equivalents at the end of Q1 2025 were approximately ¥251.67 million, down from ¥353.63 million at the end of Q1 2024[49] - The company reported a net cash outflow from investing activities of approximately ¥22.72 million in Q1 2025, compared to a net outflow of ¥19.55 million in Q1 2024[49] - The company raised approximately ¥449.16 million in borrowings during Q1 2025, an increase from ¥245.48 million in Q1 2024[49] - The company experienced a net cash outflow from financing activities of approximately ¥107.99 million in Q1 2025, an improvement from a net outflow of ¥140.60 million in Q1 2024[49] - The total assets at the end of Q1 2025 were ¥10,114,515,355.63, down 4.79% from ¥10,623,265,828.75 at the end of the previous year[4] Operational Efficiency - The company's gross margin for retail pharmaceuticals improved by 2.22% due to enhanced promotional efficiency[6] - The company reported a significant reduction in expenses, with a growth rate of 4.74% compared to 19.98% in the previous year[6] - Inventory decreased by 9.67% to ¥2,825,299,981.31, indicating improved inventory turnover efficiency[9] - Inventory turnover efficiency is being improved through category planning adjustments and the introduction of high-quality private label products[37] - The company is slowing down store expansion and focusing on improving store and employee efficiency, with a strategy of "self-built + acquisition" for orderly expansion in planned areas[34] Business Strategy and Market Position - The company is accelerating its business transformation to offset the decline in medical insurance income by enhancing non-pharmaceutical business operations[6] - The company’s strategic focus remains on optimizing existing store structures and enhancing operational efficiency rather than aggressive expansion[17] - The company aims to focus on health management services and differentiate its product offerings to meet customer needs[33] - The company is actively exploring new sales channel models, including cross-border e-commerce, which generated over CNY 4 million in sales[28] - The company’s revenue from the pharmaceutical retail segment is expected to continue growing, supported by a differentiated store expansion strategy[17] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 17,350[14] - The company’s major shareholders include Shenzhen Changsi Industrial Development Co., holding 23,439,968 shares, representing a significant portion of the total shares[16] - The company’s actual controller, Lan Bo, and his spouse hold a combined 66.67% of the shares, indicating strong insider control[16] - The company’s total shareholding structure indicates a high concentration of ownership among the top shareholders, with the top 10 shareholders holding a significant portion of the total shares[16] Revenue Breakdown - Prescription drug revenue reached CNY 789,989,496.00, representing a year-on-year increase of 2.66%[25] - The online channel generated revenue of CNY 66,070.62 million, a growth of 22.13% year-on-year, accounting for 28.80% of total revenue[29] - The sales of health food increased by 14.97% compared to the previous year[26] - The company conducted 57 live broadcasts during the reporting period, achieving sales of CNY 26.31 million, a year-on-year increase of 45.8%[28] - The company’s revenue from the pharmaceutical retail segment showed a slight increase, with a total of 5,490 stores at the end of Q1 2025, reflecting a cautious expansion strategy[18]