Financial Performance - In Q1 2025, the company achieved operating revenue of CNY 11.09 billion, an increase of 8.70% compared to the same period last year[6]. - The net profit attributable to shareholders of the listed company was a loss of CNY 13.67 million, significantly reduced from a loss of CNY 141.31 million in the previous year[4]. - Basic and diluted earnings per share were both CNY -0.01, reflecting a decrease in profitability compared to the previous year[5]. - Total operating revenue for Q1 2025 reached ¥11,086,183,159.38, an increase of 8.69% compared to ¥10,198,575,490.23 in Q1 2024[20]. - The net profit for Q1 2025 was ¥484,914.28, a significant recovery from a net loss of ¥137,420,420.66 in Q1 2024[21]. - Total comprehensive income for Q1 2025 was -202.65 million RMB, compared to -138.73 million RMB in Q1 2024, indicating a significant decline[22]. Cash Flow - The net cash flow from operating activities was negative at CNY -385.01 million, primarily due to increased procurement needs in the supply chain operations[6]. - Cash inflow from operating activities totaled 14.21 billion RMB in Q1 2025, up from 12.57 billion RMB in Q1 2024, reflecting a growth of approximately 13%[23]. - Cash outflow from operating activities increased to 14.60 billion RMB in Q1 2025, compared to 12.85 billion RMB in Q1 2024, representing a rise of about 13.5%[23]. - Cash flow from investing activities showed a net outflow of 10.40 million RMB in Q1 2025, contrasting with a net inflow of 73.25 million RMB in Q1 2024[23]. - Cash inflow from financing activities was 2.05 billion RMB in Q1 2025, down from 2.70 billion RMB in Q1 2024, indicating a decrease of approximately 24%[23]. - The net increase in cash and cash equivalents for Q1 2025 was 293.35 million RMB, slightly lower than 303.68 million RMB in Q1 2024[23]. - The ending balance of cash and cash equivalents as of Q1 2025 was 3.56 billion RMB, compared to 3.49 billion RMB at the end of Q1 2024[23]. Assets and Liabilities - Total assets increased by 5.01% to CNY 27.08 billion compared to the end of the previous year, driven by higher procurement prepayments and inventory[5]. - Total current assets as of March 31, 2025, amount to ¥22,332,694,775.44, an increase from ¥20,991,672,449.15 as of December 31, 2024[15]. - Total assets reached ¥27,076,919,068.92, up from ¥25,785,517,477.66, marking an increase of about 5.00%[15]. - The company’s total liabilities as of March 31, 2025, amounted to ¥21,390,600,839.37, compared to ¥20,088,069,036.67 at the end of 2024, indicating a growth of 6.49%[17]. - The total equity attributable to shareholders was ¥5,028,137,308.73 as of March 31, 2025, slightly down from ¥5,042,305,124.03 at the end of 2024[17]. - The total liabilities increased, with contract liabilities rising to ¥3,417,597,388.97 from ¥2,563,583,392.12, an increase of approximately 33.43%[15]. Shareholder Information - The largest shareholder, Jiangsu Suhao Holding Group Co., Ltd., holds 1,511,591,011 shares, accounting for 67.41% of the total shares[12]. - There are no significant changes in the shareholder structure or any related party transactions reported[12]. - The company has not disclosed any changes in the participation of major shareholders in margin trading or securities lending[13]. Operational Efficiency - The weighted average return on net assets increased by 2.38 percentage points, indicating improved efficiency despite negative net profit[9]. - The company reported a significant reduction in losses from financial assets due to market price fluctuations in the previous year[6]. - The company is focusing on supply chain integration and has seen continuous growth in its core supply chain business, particularly in import operations[6]. Expenses - Total operating costs for Q1 2025 were ¥11,098,275,125.31, up from ¥10,207,590,836.15 in Q1 2024, reflecting a year-over-year increase of 8.69%[20]. - The company reported a significant decrease in sales expenses, which fell to ¥125,534,741.29 in Q1 2025 from ¥162,059,891.39 in Q1 2024, a reduction of 22.67%[20]. - Research and development expenses decreased to ¥4,953,794.23 in Q1 2025 from ¥7,782,533.96 in Q1 2024, a decline of 36.29%[20]. Other Financial Metrics - Non-recurring gains and losses totaled CNY 20.25 million, influenced by various financial asset valuations and government subsidies[8]. - The company reported an investment loss of ¥26,664,584.20 in Q1 2025, compared to a loss of ¥16,334,126.51 in Q1 2024[21]. - The company’s deferred income tax liabilities increased to ¥415,749,379.72 as of March 31, 2025, from ¥391,352,434.07 at the end of 2024, an increase of 6.24%[17]. - The company is undergoing asset swaps with its controlling shareholder, which may impact future financial performance and asset structure[6]. - The company did not apply new accounting standards for the first time in 2025[24].

Financial Performance - The company's operating revenue for 2024 reached ¥827,835,584.15, representing a 17.49% increase compared to ¥704,589,752.32 in 2023 [24]. - The net profit attributable to shareholders was -¥24,724,855.97, a significant reduction in losses by 73.70% from -¥94,027,610.86 in 2023 [24]. - The basic earnings per share for 2024 was -¥0.16, improving from -¥0.63 in 2023 [25]. - The consolidated revenue for the reporting period was 134,732.34 million, with a cash flow of 6,452.42 million [180]. - The consolidated net profit attributable to shareholders was a loss of RMB 24.72 million, a decrease in loss by 73.70% year-on-year [65]. - The gross margin for the integrated circuit segment was 34.01%, an increase of 3.40 percentage points year-on-year [71]. - The operating costs increased to RMB 546.25 million, up 11.72% compared to the previous year, primarily due to increased sales revenue [67]. - Research and development expenses decreased by 8.65% to RMB 273.10 million, reflecting a reduction in related salaries and material costs [67]. - The company reported a significant increase in cash flow from financing activities, amounting to RMB 594.41 million, a 439.57% increase year-on-year [67]. Research and Development - The company has made progress in R&D for new products, including Wi-Fi and Bluetooth chips, which are expected to contribute to future revenue [36]. - The company invested CNY 27.31 million in R&D in 2024, accounting for 32.99% of its revenue, emphasizing market-oriented R&D planning [44]. - The company has a total of 244 R&D personnel, representing 86.52% of its workforce, and has implemented a competitive compensation policy to enhance team efficiency [45]. - The company has established a comprehensive R&D management process to mitigate risks associated with new product development [100]. - The company has successfully mass-produced several AIoT chip products, with applications in AI glasses and toys, and plans to release an AI smart kit in collaboration with Aodubi in 2024 [38]. - The company has launched multiple new Wi-Fi chips, including the world's first Wi-Fi 6 IoT chip and the smallest Wi-Fi MCU chip in the industry, and has initiated the development of Wi-Fi 7 chips [37]. Market Position and Strategy - The company focused on upgrading products and expanding market reach, particularly in Wi-Fi and automotive chips [26]. - The company aims to enhance its competitive edge by continuously upgrading its product lineup to meet market demands [36]. - The company has successfully entered the automotive market with its ETC SoC chip, which has received automotive-grade certification [43]. - The company has established a strong supply chain management system, collaborating closely with suppliers like SMIC and JCET to ensure stable production capacity [46]. - The company is positioned to capitalize on the ongoing shift of the integrated circuit industry from developed countries to developing regions, including China [97]. - The company plans to expand into smart transportation and smart IoT markets, leveraging its existing customer base in emerging markets [63]. Governance and Compliance - The company has implemented various governance measures to ensure compliance with laws and regulations, maintaining the independence of its operations [107]. - The board of directors consists of 5 members, including 2 independent directors, and has established three specialized committees to enhance decision-making and oversight [106]. - The company has not reported any significant differences in governance practices compared to regulatory requirements [107]. - The company has established a comprehensive internal control and risk management system to identify and manage significant risks, ensuring effective response to uncertainties [143]. - The company has committed to maintaining fair practices in related party transactions and protecting shareholder interests [156]. Shareholder and Management Information - The total number of shares held by directors and senior management decreased from 26,711,305 at the beginning of the year to 26,488,220 at the end of the year, a reduction of 223,085 shares [110]. - The total pre-tax remuneration for all directors and senior management amounted to 758.67 million yuan for the year [110]. - The company has appointed two new independent directors, Lu Kuncai and Zhang Yi, with a remuneration of 15.00 million yuan each [110]. - The company’s management team consists of experienced professionals with diverse backgrounds in technology and finance, enhancing its strategic capabilities [113]. - The company has a well-defined training program to develop professional talent in product R&D and management [130]. Risks and Challenges - The company recognizes the risk of rapid technological changes and the need for continuous innovation to maintain market position [100]. - The company faces significant competition risks from international chip design firms like Qualcomm and MediaTek, which have superior asset scales and risk resistance capabilities [102]. - The domestic IC design industry is rapidly developing, leading to increased competition and potential market share loss for the company if competitors invest more in promotion and adopt aggressive pricing strategies [102]. - The company relies heavily on technical personnel in the chip design industry, and there is a risk of talent loss to competitors offering better compensation, which could negatively impact new product development and technical capabilities [102]. Future Outlook - The company provided guidance for the next quarter, expecting revenue to be between $1.6 billion and $1.7 billion, indicating a potential growth of 7% to 13% [114]. - New product launches are anticipated, including a next-generation device expected to contribute an additional $200 million in revenue over the next year [114]. - The company is investing in R&D, allocating $100 million towards the development of new technologies aimed at enhancing product performance [114]. - The company plans to improve the technology and performance of Wi-Fi, Bluetooth, and ETC products, while actively expanding into international markets [99]. Accounting and Financial Reporting - The company will adhere to the new accounting standards and guidelines issued by the Ministry of Finance, effective from October 25, 2023 [157]. - The company will implement the new accounting interpretation regarding the classification of liabilities starting from January 1, 2024, which is not expected to have a significant impact on its financial position and operating results [158]. - The company has not reported any major changes in its accounting policies that would require board or shareholder approval, adhering to regulatory requirements [164]. - The company has not disclosed any major related party transactions during the reporting period, indicating a lack of significant financial dealings with related parties [169].

Financial Performance - The company reported a net profit attributable to shareholders of -151.07 million RMB for the year 2024, with cumulative distributable profits amounting to 510.65 million RMB[4]. - The parent company achieved a net profit of 1.92 million RMB for 2024, with cumulative distributable profits of 542.81 million RMB[4]. - The company's operating revenue for 2024 was CNY 364,183,996.69, a decrease of 35.22% compared to CNY 562,215,686.66 in 2023[25]. - The net profit attributable to shareholders for 2024 was CNY -151,066,578.60, representing a decline of 240.49% from CNY 107,528,739.71 in 2023[25]. - The cash flow from operating activities for 2024 was CNY 104,772,089.47, down 70.25% from CNY 352,172,958.47 in 2023[25]. - The basic earnings per share for 2024 was CNY -0.66, a decrease of 240.43% compared to CNY 0.47 in 2023[26]. - The total assets at the end of 2024 were CNY 1,615,279,766.09, a decrease of 3.44% from CNY 1,672,859,840.04 at the end of 2023[25]. - The weighted average return on equity for 2024 was -13.01%, a decrease of 22.45 percentage points from 9.44% in 2023[26]. - The company reported a net profit of CNY -167,366,125.67 in Q4 2024, following a profit of CNY 21,356,109.45 in Q2 2024[28]. - The company recorded non-operating income of CNY 372,820.81 from the disposal of non-current assets in 2024[30]. Dividend Policy - A cash dividend of 0.56 RMB per 10 shares is proposed, totaling 13.10 million RMB to be distributed to shareholders[4]. - The company plans to maintain the distribution ratio per share unchanged, adjusting the total distribution amount if the total share capital changes before the dividend distribution date[4]. - The cash dividend amount represents 32.92% of the average net profit over the last three accounting years, which is RMB 39,795,909.81[178]. - The company has a cash dividend policy that mandates a minimum of 20% of the distributable profits to be distributed in cash if conditions are met[168]. - The company can opt not to distribute cash dividends if the per-share distributable profit is below 0.10 yuan or if significant investment plans arise[169]. Governance and Compliance - The company’s board of directors and supervisory board confirmed the authenticity and completeness of the annual report[3]. - The company has established a governance structure that complies with legal requirements, ensuring the protection of shareholder rights and independent operation of the board and management[139]. - The company has implemented a registration management system for insider information to enhance transparency and protect shareholders' rights[141]. - The company has established a system for information disclosure management to ensure timely and accurate reporting to shareholders[141]. - The company has not experienced significant changes in competition or business operations that would affect its independence[141]. - The company has held 1 annual general meeting and 2 extraordinary general meetings during the reporting period, with a total of 12 proposals submitted and all approved[143]. Market and Industry Trends - The precision manufacturing segment focuses on lithium battery equipment and has established stable partnerships with leading companies in the lithium battery industry[39]. - The total output value of the lithium battery industry in China is projected to exceed 1.2 trillion yuan in 2024[44]. - The domestic lithium battery equipment market is experiencing rapid growth, driven by the increasing demand from the new energy vehicle sector[49]. - The company is actively involved in the development of new products for core clients, enhancing its role as a key supplier in the lithium battery cutting mold sector[48]. - The precision automation segment is projected to grow, with the Chinese reducer industry market size reaching approximately 138.7 billion yuan in 2023, expected to rise to about 144.8 billion yuan in 2024[121]. Strategic Acquisitions and Investments - The company acquired 51% equity in Anhui Hamps for 152.49 million yuan, becoming its controlling shareholder[41]. - The company acquired 51% of Anhui Hamps Precision Transmission Co., Ltd. for a total investment of RMB 152.49 million, which will be consolidated into the company's financial statements[106]. - Anhui Hamps reported total assets of RMB 168.72 million and net profit of RMB 30.43 million for the current year[112]. - The company is considering strategic acquisitions to bolster its market position, with a budget of $100 million allocated for potential deals[145]. Research and Development - The company is investing $50 million in R&D for new technologies aimed at enhancing product efficiency[145]. - The company has a total of 1,546 retired employees for which it bears costs[164]. - The number of R&D personnel is 90, accounting for 10.92% of the total workforce[94]. - The company has a strong patent portfolio and has been recognized as a national high-tech enterprise, indicating its commitment to innovation and technology development[76]. Risk Management - The company faces risks from market competition and economic policy changes, which could impact profit margins and overall performance if not addressed through innovation and cost management[131]. - The company has a high proportion of accounts receivable, which poses a risk of bad debts affecting financial performance, necessitating improved management and risk prevention measures[132]. - The company recognizes the risk of product obsolescence due to emerging technologies and will increase R&D investment to enhance product competitiveness[134]. - The rapid expansion of the company's operations presents management challenges, requiring the enhancement of governance structures and operational efficiency[135]. Employee Management - The total number of employees in the parent company is 225, while the main subsidiaries have 599 employees, totaling 824 employees[164]. - The company has established a scientific and efficient compensation assessment system, linking employee income to responsibilities, risks, and company performance[166]. - The company has a salary management system for senior management based on economic performance and individual work quality assessments[181]. Environmental and Social Responsibility - The company reported zero investment in environmental protection during the reporting period[185]. - The company did not implement any carbon reduction measures, resulting in zero reduction of CO2 equivalent emissions[186]. - The company has committed to providing accurate and complete information regarding its transactions, with a commitment date of February 2021[189].

Financial Performance - The company's operating revenue for 2024 was CNY 35.85 billion, a decrease of 16.89% compared to CNY 43.14 billion in 2023[20]. - The net profit attributable to shareholders for 2024 was CNY 2.45 billion, down 69.08% from CNY 7.92 billion in 2023[20]. - Basic earnings per share for 2024 were CNY 0.82, reflecting a decline of 69.06% from CNY 2.65 in 2023[21]. - The weighted average return on equity decreased to 5.20% in 2024, down 11.17 percentage points from 16.37% in 2023[21]. - The net cash flow from operating activities for 2024 was CNY 4.96 billion, a decrease of 43.92% compared to CNY 8.85 billion in 2023[20]. - Total assets at the end of 2024 were CNY 80.28 billion, down 7.47% from CNY 86.76 billion at the end of 2023[20]. - The net assets attributable to shareholders decreased by 3.86% to CNY 46.20 billion at the end of 2024 from CNY 48.06 billion at the end of 2023[20]. - The company reported non-recurring gains of CNY 65.24 million in 2024, compared to CNY 32.27 million in 2023[25]. - The company experienced a significant decline in quarterly net profit, with a loss of CNY 348.84 million in Q4 2024[23]. Production and Sales - In 2024, the company achieved a raw coal production of 57.57 million tons and a sales volume of 52.25 million tons, generating operating revenue of 35.85 billion yuan and a total profit of 4.107 billion yuan, with earnings per share of 0.82 yuan[30]. - The average selling price of commodity coal was 645.64 RMB per ton, reflecting a decrease due to lower market prices and reduced sales volume[43]. - The company's total operating revenue decreased by 16.89% year-on-year to approximately 35.85 billion RMB, primarily due to the decline in commodity coal prices and sales volume[44]. - The company achieved a coal chemical industry consumption growth of 8.3% year-on-year, driven by increased demand and favorable policies[39]. - The total operating revenue for the coal mining sector was approximately CNY 33.73 billion, a decrease of 15.68% year-on-year, with a gross margin of 39.48%[47]. - The total operating revenue for the coking industry was approximately CNY 1.66 billion, a decrease of 40.77% year-on-year, with a gross margin of -18.72%[47]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of 0.41 CNY per share (including tax) based on a total share capital of 2,991,409,200 shares as of December 31, 2024[6]. - The total cash dividend amount for the recent fiscal year is CNY 1,226,477,772, which represents 50.07% of the net profit attributable to ordinary shareholders[113]. - Over the last three fiscal years, the cumulative cash dividend amount is CNY 14,505,343,210.80, with a cash dividend ratio of 177.28% relative to the average annual net profit of CNY 8,181,963,889.94[115]. Governance and Compliance - The company has received a standard unqualified audit report from Lixin Certified Public Accountants[5]. - The company has confirmed that all board members attended the board meeting, ensuring accountability for the report's accuracy[4]. - The company has not reported any instances where more than half of the board members could not guarantee the report's authenticity[7]. - The company has established a management system for subsidiaries to ensure compliance with corporate governance and financial management standards[118]. - The company is committed to improving internal control and governance systems to enhance operational efficiency and protect investor interests[82]. Environmental and Social Responsibility - The company has invested CNY 38,500,000 in environmental protection during the reporting period[120]. - The company actively fulfilled its social responsibilities, hiring 2,482 new employees and donating 30.94 million yuan to local economic development[37]. - The company implemented carbon reduction measures that resulted in a total reduction of 280,499 tons of CO2 equivalent emissions through the use of clean energy and carbon reduction technologies[140]. - Total investment in social responsibility projects amounted to 70.69 million yuan, including 30.94 million yuan in cash donations and 39.75 million yuan in material assistance[142]. Future Outlook and Strategy - The company aims to maintain coal production at a scale of 50 million tons and achieve operating revenue exceeding 30 billion yuan in 2025[69]. - The company plans to implement a "variety coal expansion and market expansion" strategy to increase the proportion of high-efficiency coal and enhance its market position[69]. - The company is focusing on green development by applying new green mining technologies and promoting comprehensive utilization of coal mine gas[71]. - The company is committed to zero safety production accidents and minimizing environmental pollution risks in its operations[69]. Risks and Challenges - The company acknowledges potential uncertainties in achieving its 2025 operational targets due to coal industry policies and supply-demand factors[7]. - The company faces risks related to industry cycles and market fluctuations, with a high dependency on coal prices impacting revenue and profit margins[79]. - The company acknowledges safety production and environmental policy risks, which could increase operational costs and affect coal production[80].

Financial Performance - The company's operating revenue for Q1 2025 was CNY 1,026,176,214.11, representing a 2.55% increase compared to CNY 1,000,650,375.76 in the same period last year[4] - The net profit attributable to shareholders was a loss of CNY 468,952,958.90, an improvement of 9.10% from a loss of CNY 515,915,343.05 in the previous year[4] - The basic and diluted earnings per share were both CNY -0.14, showing a 12.50% improvement from CNY -0.16 in the previous year[4] - The net loss for Q1 2025 was a loss of $591,646,714.10, compared to a loss of $643,559,088.27 in Q1 2024, indicating an improvement of approximately 8.06%[22] - The total comprehensive loss for Q1 2025 was $674,315,424.80, compared to a loss of $637,229,943.20 in Q1 2024[23] Cash Flow and Assets - The net cash flow from operating activities was a negative CNY 315,161,733.63, which is a decline of 11.58% compared to a negative CNY 282,442,386.93 in the same period last year[4] - The company's cash and cash equivalents decreased to approximately 712.60 million RMB from 739.47 million RMB at the end of 2024[15] - The company's current assets totaled approximately 19.06 billion RMB, an increase from 18.89 billion RMB at the end of 2024, driven by an increase in inventory[16] - The total liabilities as of March 31, 2025, were approximately 39.51 billion RMB, compared to 38.88 billion RMB at the end of 2024, indicating a rise in short-term borrowings[17] - Cash and cash equivalents at the end of Q1 2025 were $208,683,001.46, down from $234,186,154.81 at the end of Q1 2024[26] - The company reported a net cash outflow from operating activities of $315,161,733.63 in Q1 2025, compared to an outflow of $282,442,386.93 in Q1 2024[26] Equity and Shareholder Information - The weighted average return on equity decreased to -18.42%, down 9.04 percentage points from -9.38% in the previous year[5] - Shareholders' equity attributable to shareholders decreased by 20.07% to CNY 2,222,667,052.15 from CNY 2,780,761,093.86 at the end of the previous year[5] - The company’s equity attributable to shareholders decreased to approximately 2.22 billion RMB from 2.78 billion RMB at the end of 2024[18] Investments and Subsidiaries - The company completed the transfer of equity in Jiangsu Weikail Medical Technology Co., Ltd., with the necessary registration procedures finalized[11] - A proposal to establish a subsidiary of Jilin Yatai Construction Engineering Co., Ltd. was approved in the fourth executive meeting of the company on January 20, 2025[11] - The company established a joint venture named "Yatai Jinchuan (Dalian) Construction Engineering Co., Ltd." with a registered capital of 10 million RMB, where Jilin Yatai Construction Engineering Co., Ltd. contributed 3 million RMB (30%) and Dalian Jinhui Navigation Co., Ltd. contributed 4.9 million RMB (49%)[12] - The company approved the establishment of a wholly-owned subsidiary, "Jilin Yatai Group Environmental Technology Co., Ltd.," with a registered capital of 20 million RMB, focusing on cement production and sales, among other activities[13] Operating Costs and Expenses - Total operating costs rose to $1,734,625,516.81 in Q1 2025 from $1,700,488,725.15 in Q1 2024, marking an increase of about 2.01%[21] - Research and development expenses increased to $16,532,351.27 in Q1 2025 from $12,238,232.70 in Q1 2024, reflecting a growth of approximately 35.4%[21]

Financial Performance - The company achieved a net profit of ¥5,055,483.51 in 2024, a significant recovery from a net loss of ¥15,739,188.29 in 2023[19] - Operating revenue for 2024 was ¥65,235,700.07, representing a 23.10% increase compared to ¥52,995,074.05 in 2023[19] - The net cash flow from operating activities increased by 14.02% to ¥24,401,430.35 in 2024, up from ¥21,401,396.67 in 2023[19] - The company reported a net profit of ¥4,152,803.27 after deducting non-recurring gains and losses, compared to a loss of ¥20,542,512.04 in 2023[19] - The net profit attributable to shareholders increased due to a rise in operating income and a reduction in expenses, with a net profit of CNY 505.55 million for the reporting period, up 23.10% year-on-year[34] - The total operating income for the company reached CNY 65.24 million, reflecting a 23.10% increase compared to the previous year[34] - The company reported a basic earnings per share of CNY 0.009 for 2024, compared to a loss of CNY 0.028 in 2023, marking a significant recovery[22] - The weighted average return on equity improved to 0.65% in 2024 from -2.10% in 2023, indicating enhanced profitability[22] Assets and Liabilities - The total assets of the company rose to ¥885,127,023.62 in 2024, marking an 11.93% increase from ¥790,820,033.59 in 2023[21] - The company's net assets attributable to shareholders decreased slightly by 0.47% to ¥770,493,703.75 at the end of 2024[21] - The total cash and cash equivalents at the end of the period decreased by 3.60% to CNY 526,627,407.45[60] - Accounts receivable increased by 85.01% to CNY 35,960,603.27 due to changes in the consolidation scope[63] - The company reported a significant increase in goodwill to CNY 25,482,023.91 as a result of acquisition investments[63] Revenue and Sales - The revenue from core business activities, after excluding unrelated income, was ¥64,860,407.64, reflecting a 23.44% increase from ¥52,542,693.19 in 2023[19] - The market for buses over 6 meters saw sales of 126,000 units in 2024, a year-on-year increase of 33.39%, indicating a recovering market[34] - The sales of new energy buses over 6 meters reached 57,000 units in 2024, representing a 43.16% increase year-on-year, driven by global demand for new energy vehicles[34] - The sales volume of CAN bus products increased by 34.39% compared to the previous year, with a production volume increase of 29.05%[50] - The domestic market for large and medium-sized buses saw a 33.39% increase in sales, totaling 126,000 units[66] Research and Development - Research and development expenses accounted for 16.92% of total revenue, with a focus on new products like full LCD instruments and intelligent cockpit systems[38] - The total R&D expenditure for the period was CNY 11,039,128.69, accounting for 16.92% of operating revenue[57] - The number of R&D personnel is 40, representing 16.26% of the total workforce[57] - The company aims to enhance its product chain by continuously investing in R&D and upgrading products to meet market demands[79] Strategic Acquisitions and Investments - The company completed the acquisition of 51% of Anhui Alpha Silicon New Energy Research Institute, expanding into the passenger vehicle sector[40] - The company plans to acquire 51% of the equity in Anhui Alpha Silicon New Energy Common Technology Research Institute Co., Ltd., enhancing its control over the subsidiary[53] - The acquisition aims to leverage Afa Silicon's technological development and market resources to expand cooperation opportunities in the automotive sector and increase market share in passenger vehicles[67] - The company has conducted 5 shareholder meetings and 9 board meetings during the reporting period, ensuring compliance with legal and regulatory requirements[88][89] Corporate Governance - The company maintains independence from its controlling shareholder in terms of assets, personnel, finance, and operations, ensuring no interference in decision-making[91] - The company is committed to transparency in its fundraising and usage reports for the year 2023[95] - The company has established a remuneration and assessment committee to determine the compensation for directors and senior management based on performance evaluations[107] - The company is committed to enhancing compliance with securities laws and regulations following recent violations by its executives[111] Risks and Challenges - The company has outlined potential risks in its operational development, which are detailed in the management discussion and analysis section[6] - The company faces risks from changes in industrial policies that could impact its production and profitability in the automotive electronics sector[84] - Financial risks are present due to potential adverse effects on various financial indicators from operational, investment, and financing activities[84] - The acquisition of Alpha Silicon may lead to goodwill impairment risks if the company's performance does not meet expectations[86] Employee and Social Responsibility - The company has implemented a training program focusing on professional skills, general skills, certification courses, and new employee training[129] - Employee rights are prioritized, with regular training and activities to promote professional development and team cohesion[146] - The company has actively engaged in social responsibility initiatives, including donations to support disadvantaged communities[147] Future Outlook - The company plans to achieve a revenue of 350 million in 2025, with a positive net profit attributable to shareholders, although this is subject to various uncertainties[81] - The company expects a 44% year-on-year increase in truck instrument sales in 2024, leveraging its established supply platform[78] - The company aims to expand its business scope and enhance sustainable development and profitability[161] - The company plans to conduct daily related transactions with an estimated amount between CNY 129.21 million and CNY 145.42 million for the year 2025[165]

Financial Performance - The company's operating revenue for Q1 2025 was ¥2,536,386,897.59, representing a year-on-year increase of 5.13% compared to ¥2,412,701,599.30 in the same period last year[4] - Net profit attributable to shareholders decreased by 38.80% to ¥276,543,001.67 from ¥451,845,572.59 in the previous year[4] - Basic and diluted earnings per share decreased by 38.71% to ¥0.19 from ¥0.31 in the previous year[4] - Net profit for Q1 2025 was ¥360,107,991.88, a decrease of 44.4% from ¥647,257,944.06 in Q1 2024[19] - Operating profit for Q1 2025 was ¥456,087,675.13, down 41.5% from ¥780,675,513.73 in Q1 2024[19] Cash Flow - The net cash flow from operating activities fell by 46.15%, amounting to ¥703,649,965.19, down from ¥1,306,748,430.96 in the same period last year[4] - Cash flow from operating activities for Q1 2025 was ¥703,649,965.19, a decline of 46.1% compared to ¥1,306,748,430.96 in Q1 2024[23] - The net cash flow from financing activities for Q1 2025 was ¥18,108,057.78, a significant improvement compared to a net outflow of ¥1,235,865,886.38 in Q1 2024[23] Assets and Liabilities - Total assets increased by 2.49% to ¥29,163,359,472.62 from ¥28,455,977,030.37 at the end of the previous year[4] - The company's total liabilities stood at RMB 13,626,200,944.28, up from RMB 13,432,798,776.86, marking an increase of about 1.44%[15] - The company's total current liabilities were RMB 4,523,689,431.31, showing a marginal decrease from RMB 4,531,140,781.12, a reduction of about 0.16%[15] - The company's total liabilities increased to CNY 1,239,209,121.61 as of March 31, 2025, compared to CNY 1,235,704,219.60 at the end of 2024[26] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 39,611[9] - The largest shareholder, Beijing Energy Group Co., Ltd., holds 63.31% of the shares, totaling 911,613,544 shares[9] Inventory and Receivables - The company's inventory decreased to RMB 186,961,758.00 from RMB 224,998,116.12, showing a decline of about 16.88%[13] - Accounts receivable rose significantly to RMB 186,682,775.56 from RMB 94,965,629.66, indicating an increase of approximately 96.59%[13] Costs and Expenses - Total operating costs rose significantly to ¥2,084,819,940.53 in Q1 2025, up 27.5% from ¥1,633,890,669.52 in Q1 2024[18] - The company incurred sales expenses of ¥32,115,530.35 in Q1 2025, a decrease of 18.5% from ¥39,407,304.09 in Q1 2024[19] - Management expenses decreased to CNY 39,684,149.22 in the first quarter of 2025 from CNY 45,427,968.73 in the first quarter of 2024[28] Non-Recurring Items - The company reported a non-recurring gain of ¥3,179,978.13, which includes a loss from non-current asset disposal of ¥4,967,877.74[7] Cash and Cash Equivalents - The company's cash and cash equivalents increased to RMB 4,718,959,772.06 from RMB 4,163,578,591.59, representing a growth of about 13.33%[13] - Cash and cash equivalents at the end of Q1 2025 totaled ¥4,405,997,714.46, down from ¥4,645,115,761.15 at the end of Q1 2024[23] Other Financial Metrics - The weighted average return on equity decreased by 1.66 percentage points to 2.28% from 3.94% in the previous year[4] - The total non-current assets amounted to RMB 23,570,306,252.79, a slight decrease from RMB 23,664,405,235.69, indicating a decline of approximately 0.40%[14] - The company's long-term borrowings increased to RMB 5,688,320,000.00 from RMB 5,553,320,000.00, reflecting an increase of about 2.39%[15] - The total equity of the company as of March 31, 2025, was CNY 9,537,865,975.21, a slight decrease from CNY 9,562,108,039.09 at the end of 2024[27] Accounting Standards - The company did not apply new accounting standards starting from 2025[32]

Financial Performance - The company's revenue for 2024 reached ¥958,126,136.62, representing a 71.53% increase compared to ¥558,570,814.06 in 2023[22]. - The net profit attributable to shareholders decreased by 32.12% to ¥17,279,483.78 in 2024 from ¥25,457,149.46 in 2023[22]. - The net profit after deducting non-recurring gains and losses increased by 63.81% to ¥12,717,698.58 in 2024 from ¥7,763,682.75 in 2023[22]. - The net cash flow from operating activities dropped by 79.49% to ¥13,616,943.72 in 2024 from ¥66,390,283.89 in 2023[22]. - Basic earnings per share decreased by 30.00% to ¥0.14 in 2024 from ¥0.20 in 2023[23]. - Total assets increased by 23.19% to ¥1,245,836,206.72 at the end of 2024 from ¥1,011,330,809.52 at the end of 2023[23]. - The net assets attributable to shareholders decreased by 1.96% to ¥602,041,472.69 at the end of 2024 from ¥614,087,905.40 at the end of 2023[23]. - The company reported a diluted earnings per share of ¥0.14 in 2024, down from ¥0.20 in 2023, indicating a decline in profitability[23]. - The company achieved a total operating revenue of 958.13 million yuan in 2024, an increase of 71.53% compared to the previous year[49]. - The net profit attributable to shareholders of the listed company was 17.28 million yuan, a decrease of 32.12% year-on-year[49]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 0.8 RMB per 10 shares to all shareholders, based on a total of 126,431,804 shares[4]. - The company has not proposed any bonus shares for the current financial year, indicating a focus on cash dividends[4]. - The company distributed cash dividends of 1 RMB per 10 shares, totaling 12,643,180.40 RMB (including tax) based on a total share capital of 126,431,804 shares for the fiscal year 2023[166]. - The company approved a cash dividend distribution plan of 0.8 RMB per 10 shares, totaling 12,643,180.40 RMB (including tax) for the fiscal year 2023[171]. - The company will ensure that the cash dividend plan is approved at the shareholders' meeting, adhering to legal regulations and company articles[195]. Governance and Compliance - The board of directors has confirmed that all members attended the meeting to review the annual report, ensuring accountability for the report's accuracy and completeness[3]. - The financial report is guaranteed to be true, accurate, and complete by the company's responsible personnel, including the CEO and accounting head[3]. - The company has a comprehensive governance structure, including a board of directors and a supervisory board, to oversee its operations[4]. - The company ensures independent operation from its controlling shareholder, maintaining autonomy in business and financial decisions[121]. - The company conducts shareholder meetings with a combination of on-site and online voting, ensuring minority shareholders' rights are respected[120]. - The company has established a robust audit committee to ensure compliance with regulatory standards and internal governance[160]. - The company has implemented a "Quality and Return Dual Improvement" action plan[117]. - The company has a complete and independent business system, capable of conducting operations without reliance on controlling shareholders[126]. - The company actively engages with stakeholders to balance the interests of shareholders, employees, and society, promoting sustainable development[124]. Risk Management and Future Outlook - The company emphasizes that forward-looking statements regarding future plans are subject to uncertainties and depend on various factors, including market conditions[4]. - The company has outlined potential risks and countermeasures in the management discussion and analysis section of the report[4]. - The report includes a detailed description of the company's future development outlook and associated risks[4]. - The company has indicated uncertainty regarding its ability to continue as a going concern due to negative net profits in recent years[23]. - The company acknowledges risks related to rapid industry changes, raw material price fluctuations, and the challenges of integrating acquired entities[115]. Research and Development - The company has a strong focus on R&D, with its subsidiaries recognized as high-tech enterprises and possessing leading core technologies in the industry[46]. - The company has applied for 50 patents related to core technologies and has a strong technical accumulation in the industry[39]. - The R&D investment amounted to ¥46,433,168.39 in 2024, representing 4.85% of operating revenue, a decrease from 7.70% in 2023[81]. - The number of R&D personnel increased by 20.90% to 162 in 2024, with a significant rise in the number of personnel under 30 years old, which increased by 138.89%[81]. - The company is focusing on expanding its product range in the new energy sector, including waterproof products for photovoltaic and energy storage applications[80]. Market and Industry Trends - The company is positioned to benefit from the stable growth of downstream industries such as telecommunications, electricity, and automotive, which are critical for its product applications[31]. - The production and sales of new energy vehicles in China reached 12.888 million and 12.866 million units in 2024, representing a year-on-year increase of 34.4% and 35.5% respectively[35]. - The company’s polymer materials business is significantly influenced by raw material prices, which directly affect production costs and product sales prices[31]. - The company is actively pursuing technology innovation and market expansion in the thermal management systems sector, particularly for new energy vehicles and AI applications[54]. Employee and Talent Management - The company emphasizes a strong talent management system to attract and retain skilled professionals, enhancing its competitive advantage[47]. - The company has a comprehensive training system in place to enhance employee skills and align with organizational development needs[165]. - The company has implemented a performance-based compensation system to motivate employees and align with strategic goals[164]. - The company has 14 employees with master's degrees or higher, and 114 with bachelor's degrees, indicating a diverse educational background among staff[162]. Environmental and Social Responsibility - The report includes a section dedicated to environmental and social responsibility, highlighting the company's commitment to sustainable practices[5]. - The company has committed to sustainable development and environmental protection in its operations[182]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[181]. - The company conducts regular health check-ups for employees and promotes a healthy work-life balance through various activities[184]. Strategic Initiatives - The company plans to invest 90 million yuan in a new project for large-area cooling liquid cold plates to meet the demand from major clients like CATL[58]. - The company plans to adopt a dual-driven model of collaborative manufacturing and independent production and sales by 2025 to enhance sustainable growth[60]. - The company aims to enhance operational management capabilities and optimize procurement strategies to reduce raw material costs while ensuring timely product delivery[113]. - The company is pursuing an acquisition of Dongguan Zhaoke Electronic Materials Technology Co., Ltd., which is expected to enhance resource allocation and operational synergy upon completion[114].

Financial Performance - The company's revenue for Q1 2025 reached ¥252,303,104.42, an increase of 86.39% compared to ¥135,364,616.53 in the same period last year[5]. - Net profit attributable to shareholders was ¥10,076,941.42, representing a significant increase of 839.66% from ¥1,072,404.17 year-on-year[5]. - The net profit after deducting non-recurring gains and losses was ¥7,613,206.23, up 1,371.38% from ¥517,419.08 in the previous year[5]. - Basic and diluted earnings per share both increased to ¥0.08, a 700.00% rise from ¥0.01 in the previous year[5]. - Total revenue for Q1 2025 reached ¥11,864,135.55, a significant increase of 2025.94% compared to ¥558,066.63 in Q1 2024, driven by rapid growth in the new energy vehicle battery cooling plate business and overseas communication services[11]. - Net profit for Q1 2025 was ¥10,391,308.29, marking a remarkable increase of 3083.06% from a loss of ¥348,344.04 in Q1 2024, attributed to improved profitability in key business segments[11]. - The company reported a significant increase in total profit before tax, which rose to ¥11,864,135.55, reflecting strong operational performance in the new energy sector[11]. - Operating profit for the current period was ¥12,057,212.66, compared to ¥562,924.57 in the previous period, indicating a substantial improvement[25]. - The company reported a total comprehensive income of ¥10,402,942.87, compared to a loss of ¥300,364.72 in the previous period, showcasing a strong recovery[25]. Cash Flow - The company's operating cash flow improved to ¥7,944,521.53, a turnaround from a negative cash flow of -¥4,839,240.26 in the same quarter last year, marking a 264.17% increase[5]. - Cash flow from operating activities generated ¥7,944,521.53 in Q1 2025, a turnaround from a negative cash flow of ¥4,839,240.26 in Q1 2024, reflecting a 264.17% increase[11]. - Investment activities generated a net cash flow of ¥23,512,789.69 in Q1 2025, a 306.88% increase from a negative cash flow of ¥11,365,698.03 in Q1 2024, due to reduced equipment payments and cash recovery from large deposits[11]. - The net increase in cash and cash equivalents for Q1 2025 was ¥25,998,758.11, representing a 232.37% increase from ¥7,822,346.73 in Q1 2024[11]. - Cash inflow from operating activities totaled ¥208,296,108.06, compared to ¥150,253,939.14 in the prior period, reflecting a growth of approximately 38.6%[28]. - Cash outflow from operating activities was ¥200,351,586.53, up from ¥155,093,179.40, indicating an increase of about 29.1%[28]. - Investment activities generated a net cash flow of ¥23,512,789.69, a recovery from the previous period's net cash flow of -¥11,365,698.03[29]. - Cash inflow from investment activities amounted to ¥32,517,704.12, compared to ¥28,136,692.88 in the prior period, marking an increase of approximately 15.9%[29]. - Cash outflow from investment activities decreased to ¥9,004,914.43 from ¥39,502,390.91, a reduction of about 77.2%[29]. - Financing activities resulted in a net cash flow of -¥5,448,598.34, down from ¥23,942,917.43 in the previous period[29]. - Total cash and cash equivalents at the end of the period were ¥141,734,230.52, a decrease from ¥166,005,070.57 in the prior period[29]. - The company received ¥36,810,000.00 in cash from borrowings, down from ¥79,870,000.00 in the previous period, reflecting a decrease of approximately 54.0%[29]. - The company reported a cash inflow of ¥1,293,155.36 from tax refunds, significantly higher than the previous period's ¥12,463.13[28]. Assets and Liabilities - Total assets at the end of Q1 2025 were ¥1,238,739,231.15, a slight decrease of 0.57% from ¥1,245,836,206.72 at the end of the previous year[5]. - Total liabilities decreased from ¥582,515,237.29 to ¥565,015,318.85, a reduction of approximately 3.0%[24]. - The equity attributable to shareholders of the parent company increased from ¥602,041,472.69 to ¥612,130,048.69, reflecting a growth of about 1.8%[24]. - The company’s total current assets amounted to ¥712,205,564.25, slightly down from ¥718,441,074.59, indicating a decrease of approximately 0.3%[22]. - The company’s fixed assets decreased to ¥144,891,708.89 from ¥147,917,648.39, a reduction of about 2%[22]. - The company’s long-term equity investments remained stable at ¥20,733,437.13, slightly down from ¥20,829,660.51[22]. - The company’s inventory decreased to ¥141,707,210.94 from ¥146,559,489.89, reflecting a decline of approximately 3.3%[22]. - Accounts receivable decreased to ¥292,276,165.42 from ¥339,688,942.65, a decline of about 14%[22]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 15,112, with no preferred shareholders having restored voting rights[13]. - The top shareholder, Shenzhen Kechuang Xinhua Technology Co., Ltd., holds 17.48% of shares, amounting to 22,100,000 shares, with 17,506,500 shares pledged[13]. - The second-largest shareholder, Zhou Dong, owns 6.59% of shares, totaling 8,325,620 shares, with 6,920,000 shares pledged[13]. - The controlling shareholder and related parties pledged a total of 24,426,500 shares, accounting for 19.32% of the total share capital[18]. Government and Regulatory Matters - The company received government subsidies amounting to ¥3,259,813.62, which positively impacted its financial performance[6]. - The company received administrative regulatory measures from the Shenzhen Securities Regulatory Bureau, emphasizing the need for improved compliance and internal controls[19]. Future Plans - The company plans to continue expanding its new energy vehicle battery cooling plate business and overseas communication services to sustain growth momentum[11]. - The company plans to provide a guarantee of up to ¥90 million for its subsidiaries to support their daily operations and business development[19]. Research and Development - Research and development expenses rose to ¥11,466,883.83 from ¥9,961,671.52, an increase of approximately 15.1%[24].

Financial Performance - The company reported a revenue of ¥685,172,711.11 for Q1 2025, representing a year-on-year increase of 15.40% compared to ¥593,713,825.36 in the same period last year[5]. - Net profit attributable to shareholders decreased by 13.74% to ¥24,767,635.73 from ¥28,711,530.39 in the previous year[5]. - The company reported a basic earnings per share of ¥0.09, down 18.18% from ¥0.11 in the same period last year[5]. - Net profit for the current period was ¥22,812,567.43, a decrease of 27.8% from ¥31,533,311.08 in the previous period[24]. - The total comprehensive income for the current period was ¥22,810,166.29, compared to ¥31,533,272.48 in the previous period, a decline of 27.8%[25]. Cash Flow and Assets - The net cash flow from operating activities improved significantly, reaching ¥96,284,785.54, a 166.00% increase from a negative cash flow of ¥145,882,860.47 in the same period last year[5]. - Cash inflow from operating activities was ¥829,997,679.56, compared to ¥716,995,405.04 in the previous period, representing a growth of 15.7%[27]. - The net cash flow from operating activities was $96,284,785.54, a significant improvement compared to a net outflow of $145,882,860.47 in the previous period[28]. - The total assets of the company decreased by 8.11% to ¥2,222,018,049.04 from ¥2,418,225,621.54 at the end of the previous year[5]. - Current assets total 1,796,257,496.04 RMB, a decrease from 1,984,683,550.94 RMB at the beginning of the period[20]. - Cash and cash equivalents at the end of the reporting period are 549,846,401.05 RMB, down from 612,433,254.76 RMB[19]. Liabilities and Equity - The total liabilities increased to ¥1,061,799,169.53, compared to ¥828,537,878.87 in the previous period, reflecting a growth of 28.1%[21]. - The total equity attributable to shareholders of the parent company rose to ¥1,376,452,708.49, up from ¥1,337,443,922.03, marking an increase of 2.9%[21]. - The largest shareholder, Yuanlong Yatu (Beijing) Investment Co., Ltd., holds 32.46% of shares, amounting to 85,027,553 shares, with 7,640,000 shares pledged[15]. Business Operations and Strategy - The company's marketing services, including promotional products and new media marketing, generated a total revenue of ¥664 million, a 13.03% increase year-on-year, despite a 19.60% decline in gross profit[8][9]. - The licensed souvenir business achieved revenue of ¥19,119,500, marking a substantial growth of 267.07% year-on-year, primarily driven by the Harbin Winter Games[8]. - The company is expanding its "Big IP + Technology" strategy, focusing on the development of cultural and creative products and channel expansion, with significant sales momentum in new product lines[10]. - The company has secured exclusive licensing rights for the 2025 Harbin Winter Games and is actively developing products for the Chengdu World Games and the Greater Bay Area Games[11]. - The company is exploring new models for scene-based IP operations, including VR immersive experiences and digital IP operations, to enhance its market presence[10]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 43,555[15]. - The employee stock ownership plan has acquired a total of 884,600 shares, representing 0.3377% of the total share capital, with a total transaction amount of 13,515,385.00 RMB at an average price of 15.28 RMB per share[17]. - The company plans to continue its employee stock ownership plan as approved in the recent board meetings[16]. Research and Development - Research and development expenses decreased to ¥22,732,552.43 from ¥26,829,105.01, a reduction of 15.3%[24]. Audit Information - The company did not undergo an audit for the first quarter report[29].